Document:

ex4.htm

    Exhibit
4(k)

     

    
      	 	
              Kathryn
      A. Cassidy

              Vice
      President and GE Treasurer

               

              General
      Electric Company

              3135
      Easton Turnpike

              Fairfield,
      CT 06828

            

    

    

    
 

    

      Securities
and Exchange Commission

      100
F Street, NE

      Washington,
DC 20549

       

      February
20, 2008

       

      
        	
                Subject: 

              	
                General
      Electric Company Annual Report on Form 10-K

                for
      the fiscal year ended
      December 31, 2007 – File No.
  1-35

              

      

      

      
      

      Dear
Sirs:

       

      Neither
General Electric Company (the “Company”) nor any of its consolidated
subsidiaries has outstanding any instrument with respect to its long-term debt,
other than those filed as an exhibit to the Company’s Annual Report on
Form 10-K for the fiscal year ended December 31, 2007, under
which the total amount of securities authorized exceeds 10% of the total assets
of the registrant and its subsidiaries on a consolidated basis. In accordance
with paragraph (b)(4)(iii) of Item 601 of
Regulation S-K (17 CFR Sec. 229.601), the Company
hereby agrees to furnish to the Securities and Exchange Commission, upon
request, a copy of each instrument that defines the rights of holders of such
long term debt not filed or incorporated by reference as an exhibit to the
Company’s Annual Report on Form 10-K for the fiscal year ended December
31, 2007.

       

      

      Very
truly yours,

       

      GENERAL
ELECTRIC COMPANY

       

      

       

      

       

      
        	
                /s/
      Kathryn A. Cassidy

              	 
      
	
                Kathryn
      A. Cassidy

              	 
      
	
                Vice
      President and GE Treasurercentcreditagree.htm

    AMENDED AND RESTATED CREDIT
AGREEMENT

     

    Dated as of December 13,
2007

     

    among

     

    CENTENNIAL ENERGY

    HOLDINGS, INC.,

     

    THE SEVERAL FINANCIAL
INSTITUTIONS

    FROM TIME TO TIME PARTY TO THIS
AGREEMENT,

     

    U.S. BANK NATIONAL
ASSOCIATION

    as Administrative
Agent,

     

    UNION BANK OF CALIFORNIA,
N.A.,

    as Co-Syndication
Agent,

    

    ABN AMRO BANK
N.V.,

    as Co-Syndication
Agent

     

    

     

    Arranged By

     

    U.S. BANK NATIONAL
ASSOCIATION,

    UNION BANK OF CALIFORNIA,
N.A.

    and

    ABN AMRO BANK
N.V.

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

    

    
      	
              ARTICLE I

            	
              DEFINITIONS

            

    

     

    
      	
               

            	
              1.01

            	
              Certain
      Defined Terms

            

    

     

    
      	
               

            	
              1.02

            	
              Other
      Interpretive Provisions

            

    

     

    
      	
               

            	
              1.03

            	
              Accounting
      Principles

            

    

     

    
      	
               

            	
              1.04

            	
              Amendment
      and Restatement

            

    

     

    
      	
              ARTICLE
      II

            	
              THE
      FACILITY

            

    

     

    
      	
               

            	
              2.01

            	
              The
      Facility

            

    

     

    
      	
               

            	
              2.02

            	
              Advances

            

    

     

    
      	
               

            	
              2.03

            	
              Method
      of Borrowing

            

    

     

    
      	
               

            	
              2.04

            	
              Fees;
      Changes in Aggregate Commitment

            

    

     

    
      	
               

            	
              2.05

            	
              Minimum
      Amount of Each Advance

            

    

     

    
      	
               

            	
              2.06

            	
              Optional
      Principal Payments

            

    

     

    
      	
               

            	
              2.07

            	
              Changes
      in Interest Rate, etc.

            

    

     

    
      	
               

            	
              2.08

            	
              Rates
      Applicable After Default

            

    

     

    
      	
               

            	
              2.09

            	
              Method
      of Payment

            

    

     

    
      	
               

            	
              2.10

            	
              Evidence
      of Debt; Telephonic Notices

            

    

     

    
      	
               

            	
              2.11

            	
              Interest
      Payment Dates; Interest and Fee
Basis

            

    

     

    
      	
               

            	
              2.12

            	
              Notification
      of Advances, Interest Rates, Prepayments and Commitment
      Changes

            

    

     

    
      	
               

            	
              2.13

            	
              Lending
      Installations

            

    

     

    
      	
               

            	
              2.14

            	
              Non-Receipt
      of Funds by the Administrative
Agent

            

    

     

    
      	
               

            	
              2.15

            	
              Replacement
      of Bank

            

    

     

    
      	
               

            	
              2.16

            	
              Letters
      of Credit

            

    

     

    
      	
              ARTICLE
      III

            	
               YIELD
      PROTECTION; TAXES

            

    

     

    
      	
               

            	
              3.01

            	
              Yield
      Protection

            

    

     

    
      	
               

            	
              3.02

            	
              Changes
      in Capital Adequacy Regulations

            

    

     

    
      	
               

            	
              3.03

            	
              Availability
      of Types of Advances

            

    

     

    
      	
               

            	
              3.04

            	
              Funding
      Indemnification

            

    

     

    
      	
               

            	
              3.05

            	
              Taxes

            

    

     

    
      	
               

            	
              3.06

            	
              Bank
      Statements; Survival of Indemnity

            

    

     

    
      	
              ARTICLE
      IV

            	
               CONDITIONS
      PRECEDENT

            

    

     

    
      	
               

            	
              4.01

            	
              Initial
      Credit Extension

            

    

     

    
      	
               

            	
              4.02

            	
              Each
      Credit Extension

            

    

     

    
      	
              ARTICLE
      V

            	
               REPRESENTATIONS
      AND WARRANTIES

            

    

     

    
      	
               

            	
              5.01

            	
              Existence
      and Power; Standing; Compliance With
Laws

            

    

     

    
      	
               

            	
              5.02

            	
              Corporate
      Authorization; No Contravention or
Conflict

            

    

     

    
      	
               

            	
              5.03

            	
              Governmental
      Authorization

            

    

     

    
      	
               

            	
              5.04

            	
              Validity
      and Binding Effect

            

    

     

    
      	
               

            	
              5.05

            	
              Litigation;
      Environmental Claims

            

    

     

    
      	
               

            	
              5.06

            	
              No
      Default

            

    

     

    
      	
               

            	
              5.07

            	
              ERISA
      Compliance

            

    

     

    
      	
               

            	
              5.08

            	
              Use
      of Proceeds; Margin Regulations

            

    

     

    
      	
               

            	
              5.09

            	
              Title
      to Properties

            

    

     

    
      	
               

            	
              5.10

            	
              Taxes

            

    

     

    
      	
               

            	
              5.11

            	
              Financial
      Condition

            

    

     

    
      	
               

            	
              5.12

            	
              Environmental
      Matters

            

    

     

    
      	
               

            	
              5.13

            	
              Regulated
      Entities

            

    

     

    
      	
               

            	
              5.14

            	
              Copyrights,
      Patents, Trademarks and Licenses,
etc.

            

    

     

    
      	
               

            	
              5.15

            	
              Subsidiaries

            

    

     

    
      	
               

            	
              5.16

            	
              Insurance

            

    

     

    
      	
               

            	
              5.17

            	
              Solvency

            

    

     

    
      	
               

            	
              5.18

            	
              Full
      Disclosure

            

    

     

    
      	
               

            	
              5.19

            	
              Senior
      Debt

            

    

     

    
      	
              ARTICLE
      VI 

            	
              AFFIRMATIVE
      COVENANTS

            

    

     

    
      	
               

            	
              6.01

            	
              Financial
      Statements

            

    

     

    
      	
               

            	
              6.02

            	
              Certificates;
      Other Information

            

    

     

    
      	
               

            	
              6.03

            	
              Notices

            

    

     

    
      	
               

            	
              6.04

            	
              Preservation
      of Existence

            

    

     

    
      	
               

            	
              6.05

            	
              Maintenance
      of Property

            

    

     

    
      	
               

            	
              6.06

            	
              Insurance

            

    

     

    
      	
               

            	
              6.07

            	
              Payment
      of Obligations

            

    

     

    
      	
               

            	
              6.08

            	
              Compliance
      with Laws

            

    

     

    
      	
               

            	
              6.09

            	
              Inspection
      of Property and Books and Records

            

    

     

    
      	
               

            	
              6.10

            	
              Environmental
      Laws

            

    

     

    
      	
               

            	
              6.11

            	
              Use
      of Proceeds

            

    

     

    
      	
              ARTICLE
      VII

            	
               NEGATIVE
      COVENANTS

            

    

     

    
      	
               

            	
              7.01

            	
              Limitation
      on Liens

            

    

     

    
      	
               

            	
              7.02

            	
              Disposition
      of Assets

            

    

     

    
      	
               

            	
              7.03

            	
              Consolidations
      and Mergers

            

    

     

    
      	
               

            	
              7.04

            	
              Loans
      and Investments

            

    

     

    
      	
               

            	
              7.05

            	
              Transactions
      with Affiliates

            

    

     

    
      	
               

            	
              7.06

            	
              Use
      of Proceeds

            

    

     

    
      	
               

            	
              7.07

            	
              Joint
      Ventures

            

    

     

    
      	
               

            	
              7.08

            	
              Restricted
      Payments

            

    

     

    
      	
               

            	
              7.09

            	
              Change
      in Business

            

    

     

    
      	
               

            	
              7.10

            	
              Accounting
      Changes

            

    

     

    
      	
               

            	
              7.11

            	
              Maximum
      Company Capitalization Ratio

            

    

     

    
      	
               

            	
              7.12

            	
              Limitation
      on Subsidiary Indebtedness

            

    

     

    
      	
               

            	
              7.13

            	
              Agreements
      Restricting Subsidiary Dividends

            

    

     

    
      	
               

            	
              7.14

            	
              Activities
      of International Subsidiaries

            

    

     

    
      	
              ARTICLE
      VIII

            	
               EVENTS
      OF DEFAULT

            

    

     

    
      	
               

            	
              8.01

            	
              Event
      of Default

            

    

     

    
      	
               

            	
              8.02

            	
              Remedies

            

    

     

    
      	
              ARTICLE
      IX

            	
               THE
      ADMINISTRATIVE AGENT

            

    

     

    
      	
               

            	
              9.01

            	
              Appointment;
      Nature of Relationship

            

    

     

    
      	
               

            	
              9.02

            	
              Powers

            

    

     

    
      	
               

            	
              9.03

            	
              General
      Immunity

            

    

     

    
      	
               

            	
              9.04

            	
              No
      Responsibility for Loans, Recitals,
etc.

            

    

     

    
      	
               

            	
              9.05

            	
              Action
      on Instructions of Banks

            

    

     

    
      	
               

            	
              9.06

            	
              Employment
      of Agents and Counsel

            

    

     

    
      	
               

            	
              9.07

            	
              Reliance
      on Documents; Counsel

            

    

     

    
      	
               

            	
              9.08

            	
              Administrative
      Agent’s Reimbursement and
Indemnification

            

    

     

    
      	
               

            	
              9.09

            	
              Notice
      of Default

            

    

     

    
      	
               

            	
              9.10

            	
              Rights
      as a Bank

            

    

     

    
      	
               

            	
              9.11

            	
              Bank
      Credit Decision

            

    

     

    
      	
               

            	
              9.12

            	
              Successor
      Administrative Agent

            

    

     

    
      	
               

            	
              9.13

            	
              Administrative
      Agent’s and Co-Lead Arrangers’ Fees

            

    

     

    
      	
               

            	
              9.14

            	
              Delegation
      to Affiliates

            

    

     

    
      	
               

            	
              9.15

            	
              Other
      Agents

            

    

     

    
      	
              ARTICLE
      X 

            	
              MISCELLANEOUS

            

    

     

    
      	
               

            	
              10.01
      Amendments and Waivers

            

    

     

    
      	
               

            	
              10.02
      Notices

            

    

     

    
      	
               

            	
              10.03
      No Waiver; Cumulative Remedies

            

    

     

    
      	
               

            	
              10.04
      Several Obligations; Benefits of this
Agreement

            

    

     

    
      	
               

            	
              10.05
      Expenses; Indemnification

            

    

     

    
      	
               

            	
              10.06
      Marshalling; Payments Set Aside

            

    

     

    
      	
               

            	
              10.07
      Successors and Assigns

            

    

     

    
      	
               

            	
              10.08
      Participations; Assignments, etc.

            

    

     

    
      	
               

            	
              10.09
      Confidentiality

            

    

     

    
      	
               

            	
              10.10
      Set-off; Ratable Payments

            

    

     

    
      	
               

            	
              10.11
      Automatic Debits of Fees

            

    

     

    
      	
               

            	
              10.12
      Notification of Addresses, Lending Installations,
  Etc.

            

    

     

    
      	
               

            	
              10.13
      Counterparts

            

    

     

    
      	
               

            	
              10.14
      Severability

            

    

     

    
      	
               

            	
              10.15
      GOVERNING LAW AND JURISDICTION

            

    

     

    
      	
               

            	
              10.16
      WAIVER OF JURY TRIAL

            

    

     

    
      	
               

            	
              10.17
      Entire Agreement

            

    

     

    
      	
               

            	
              10.18
      Survival of Representations

            

    

     

    
      	
               

            	
              10.19
      Governmental Regulation

            

    

     

    
      	
               

            	
              10.20
      Numbers of Documents

            

    

     

    
      	
               

            	
              10.21
      Nonliability of Banks

            

    

     

    
      	
               

            	
              10.22
      USA Patriot Act Notice

            

    

     

    

    EXHIBITS

    A                      Form
of Compliance Certificate

    B-1                   Form
of Opinion of Paul K. Sandness

    B-2                   Form
of Opinion of Thelen Reid Brown Raysman & Steiner LLP

    C                      Form
of Note

    D                      Form
of Money Transfer Instructions

    E                      RESERVED

    F                      Form
of Assignment Agreement

    G                      Form
of Increase Request

    H                      Form
of Borrowing Notice

    

    SCHEDULES

    

    2.01           -           Commitments
and Pro Rata Shares

    2.16           -           Existing
Letters of Credit

    5.15           -           Subsidiaries
and Minority Interests

    7.01           -           Certain
Permitted Liens

    7.12           -           Certain
Permitted Indebtedness

    7.13           -           Agreements
Restricting Subsidiary Dividends

    10.02         -           Lending
Installations; Addresses for Notices

     

     

    

    AMENDED AND RESTATED CREDIT
AGREEMENT

     

    This
AMENDED AND RESTATED CREDIT AGREEMENT (this “Agreement”) is
entered into as of December 13, 2007 among CENTENNIAL ENERGY HOLDINGS, INC., a
Delaware corporation (the “Company”), the
several financial institutions from time to time party to this Agreement, ABN
AMRO BANK N.V., as Co-Syndication Agent, UNION BANK OF CALIFORNIA, N.A., as
Co-Syndication Agent, and U.S. BANK NATIONAL ASSOCIATION, as administrative
agent for the Banks.

     

    WHEREAS,
the Company, various financial institutions and U.S. Bank National Association,
as administrative agent, have entered into a credit agreement dated as of August
26, 2005 (as amended, the “Existing Credit
Agreement”);

     

    WHEREAS,
the parties hereto have agreed to amend and restate the Existing Credit
Agreement pursuant to this Agreement; and

     

    WHEREAS,
the parties hereto intend that this Agreement and the documents executed in
connection herewith not effect a novation of the obligations of the Company
under the Existing Credit Agreement, but merely a restatement of and, where
applicable, an amendment to the terms governing such obligations;

     

    NOW,
THEREFORE, for good and valuable consideration, the receipt and sufficiency of
which are acknowledged hereby, the parties hereto agree as follows:

     

                                 
ARTICLE
I                                

     

    DEFINITIONS

     

    1.01  Certain Defined
Terms.  The following
terms have the following meanings:

    “Acquisition” means
any transaction or series of related transactions for the purpose of or
resulting, directly or indirectly, in (a) the acquisition of all or
substantially all of the assets of a Person, or of any business or division of a
Person, (b) the acquisition of more than 50% of the capital stock, partnership
interests, membership interests or equity of any Person, or otherwise causing
any Person to become a Subsidiary, or (c) a merger or consolidation or any other
combination with another Person (other than a Person that is a Subsidiary) provided that the
Company or the Subsidiary is the surviving entity.

     

    “Administrative Agent”
means U.S. Bank in its capacity as administrative agent for the Banks pursuant
to Article IX,
and not in its individual capacity as a Bank, and any successor administrative
agent appointed pursuant to Article
IX.

     

    “Advance” means a
borrowing hereunder (or conversion or continuation thereof) consisting of the
aggregate amount of the several Loans made on the same Borrowing Date (or date
of conversion or continuation) by the Banks to the Company at the same Rate
Option and, in the case of Eurodollar Advances, for the same Interest
Period.

     

    “Affected Bank” has
the meaning specified in Section
2.15.

     

    “Affiliate” of any
Person means any other Person directly or indirectly controlling, controlled by
or under common control with such Person.  A Person shall be deemed to
control another Person if the controlling Person owns 10% or more of any class
of voting securities (or other ownership interests) of the controlled Person or
possesses, directly or indirectly, the power to direct or cause the direction of
the management or policies of the controlled Person, whether through ownership
of stock or other equity interests, by contract or otherwise.

     

    “Agent-Related
Persons” means U.S. Bank and any successor Administrative Agent arising
under Section
9.12, together with their respective Affiliates and the officers,
directors, employees, agents and attorneys-in-fact of such Persons and
Affiliates.

     

    “Aggregate Commitment”
means the aggregate of the Commitments of all the Banks, as modified from time
to time pursuant to the terms hereof.

     

    “Aggregate Outstanding Credit
Exposure” means, at any time, the aggregate of the Outstanding Credit
Exposures of all Banks.

     

    “Agreement” - see the
preamble.

     

    “Alternate Base Rate”
means, for any day, a rate of interest per annum equal to the higher of (i) the
Prime Rate for such day and (ii) the sum of the Federal Funds Effective Rate for
such day plus 1/2% per annum.

     

    “Applicable Amount”
means, for any Pricing Period, with respect to the fees referred to below and
outstanding Advances of the Types referred to below, the per annum amount set
forth below in the corresponding column under Applicable Amount opposite the
applicable Pricing Level:

     

    
      	
              Pricing
      Level

            	
              Applicable Amount (in basis
      points per annum)

            
	 	
              Facility
    Fee

            	
              Utilization
      Fee

            	
              Eurodollar
      Advances/

              Letter of Credit
      Fee

            	
              Floating Rate
      Advances

            
	
              1

            	
              6.0

            	
              5.0

            	
              25.0

            	
              0.0

            
	
              2

            	
              7.0

            	
              5.0

            	
              30.0

            	
              0.0

            
	
              3

            	
              8.0

            	
              5.0

            	
              35.0

            	
              0.0

            
	
              4

            	
              10.0

            	
              5.0

            	
              45.0

            	
              0.0

            
	
              5

            	
              12.5

            	
              10.0

            	
              60.0

            	
              0.0

            
	
              6

            	
              20.0

            	
              10.0

            	
              75.0

            	
              0.0

            

    

     

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

     

    “Attorney Costs” means
and includes all fees and disbursements of any law firm or other external
counsel, the allocated cost of internal legal services and all disbursements of
internal counsel.

     

    “Bankruptcy Code”
means the United States Bankruptcy Code (11 U.S.C. §101, et seq.).

     

    “Banks” means the
lending institutions listed on the signature pages of this Agreement and their
respective successors and assigns.

     

    “Borrowing Date” means
a date on which an Advance is made hereunder.

     

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

     

    “Business Day” means
(i) with respect to any borrowing, payment or rate selection of Eurodollar
Advances, a day (other than a Saturday or Sunday) on which banks generally are
open in Minneapolis and New York for the conduct of substantially all of their
commercial lending activities, interbank wire transfers can be made on the
Fedwire system and dealings in United States dollars are carried on in the
London interbank market and (ii) for all other purposes, a day (other than a
Saturday or Sunday) on which banks generally are open in Minneapolis for the
conduct of substantially all of their commercial lending activities and
interbank wire transfers can be made on the Fedwire system.

     

    “Capital Adequacy
Regulation” means any guideline, request or directive of any central bank
or other Governmental Authority, or any other law, rule or regulation, whether
or not having the force of law, in each case, regarding capital adequacy of any
bank or of any corporation controlling a bank.

     

    “Capitalization Ratio”
means, with respect to any Person, the ratio of such Person’s Total Debt to such
Person’s Total Capitalization.

     

    “Centennial
International” means Centennial Energy Resources International Inc., a
Delaware corporation.

     

    “Change” has the
meaning specified in Section
3.02.

     

    “Change of Control”
means the occurrence of any event whereby MDU Resources Group, Inc. ceases to
own direct or indirect sole beneficial ownership (as defined under Rule 13d-3
under the Exchange Act as in effect on the date of this Agreement) of at least
66-2/3% of the combined voting power of the Company’s securities which are
entitled to vote generally in the election of directors of the
Company.

     

    “Code” means the
Internal Revenue Code of 1986, and regulations promulgated
thereunder.

     

    “Co-Lead Arrangers”
means U.S. Bank, ABN AMRO Bank N.V. and Union Bank of California, N.A., in their
capacity as co-lead arrangers for the credit facilities evidenced
hereby.

     

    “Commitment” means,
for each Bank, the obligation of such Bank to make Loans and to participate in
Letters of Credit in an aggregate amount not exceeding the amount set forth in
Schedule 2.01,
as it may be modified as a result of any assignment that has become effective
pursuant to Section
10.08, or as otherwise modified from time to time pursuant to the terms
hereof.

     

    “Commodity Contract”
means any agreement, device or arrangement providing for payments which are
related to fluctuations in commodity prices, including, but not limited to,
commodity swap or forward sale or purchase agreements.

     

    “Company” - see the
preamble.

     

    “Compliance
Certificate” means a certificate substantially in the form of Exhibit A properly
completed and signed by a Responsible Officer.

     

    “Consolidated Net
Worth” means, at any time, the excess of total assets of the Company and
its Subsidiaries over total liabilities of the Company and its Subsidiaries as
of the last day of the fiscal quarter most recently then ended, determined on a
consolidated basis in accordance with GAAP.

     

    “Contingent
Obligation” means, as to any Person, any direct or indirect liability of
that Person, whether or not contingent, with or without recourse, (a) with
respect to any Indebtedness, lease, dividend, letter of credit or other
obligation (the “primary obligations”)
of another Person (the “primary obligor”),
including any obligation of that Person (i) to purchase, repurchase or otherwise
acquire such primary obligations or any security therefor, (ii) to advance or
provide funds for the payment or discharge of any such primary obligation, or to
maintain working capital or equity capital of the primary obligor or otherwise
to maintain the net worth or solvency or any balance sheet item, level of income
or financial condition of the primary obligor, (iii) to purchase property,
securities or services primarily for the purpose of assuring the owner of any
such primary obligation of the ability of the primary obligor to make payment of
such primary obligation, or (iv) otherwise to assure or hold harmless the holder
of any such primary obligation against loss in respect thereof (each, a “Guaranty
Obligation”); (b) to purchase any materials, supplies or other property
from, or to obtain the services of, another Person if the relevant contract or
other related document or obligation requires that payment for such materials,
supplies or other property, or for such services, shall be made regardless of
whether delivery of such materials, supplies or other property is ever made or
tendered, or such services are ever performed or tendered, or (c) in respect of
any Swap Contract.  The amount of any Contingent Obligation shall, in
the case of Guaranty Obligations, be deemed equal to the stated or determinable
amount of the primary obligation in respect of which such Guaranty Obligation is
made or, if not stated or if indeterminable, the maximum reasonably anticipated
liability in respect thereof, and in the case of other Contingent Obligations
other than in respect of Swap Contracts, shall be equal to the maximum
reasonably anticipated liability in respect thereof and, in the case of
Contingent Obligations in respect of Swap Contracts, shall be equal to the Swap
Termination Value thereof.

     

    “Contractual
Obligation” means, as to any Person, any provision of any security issued
by such Person or of any agreement, undertaking, contract, indenture, mortgage,
deed of trust or other instrument, document or agreement to which such Person is
a party or by which it or any of its property is bound.

     

    “Covered Contracts”
means all obligations (contingent or otherwise) of the Company or any Subsidiary
existing or arising under Swap Contracts, provided that such
obligations are (or were) entered into by such Person in the ordinary course of
business for the purpose of directly mitigating interest rate, exchange rate or
price risks associated with liabilities, commitments or assets held or
reasonably anticipated by such Person and not for the purposes of financing,
speculation or taking a “market view”.

     

    “Credit Extension”
means the making of an Advance or the issuance of a Letter of
Credit.

     

    “Default” means any
event or circumstance which, with the giving of notice, the lapse of time, or
both, would (if not cured or otherwise remedied during such time) constitute an
Event of Default.

     

    “Dollars”, “dollars” and “$” each mean lawful
money of the United States.

     

    “Eligible Assignee”
means (a) a Bank, (b) an Affiliate of a Bank, (c) an Approved Fund and (d) any
other Person (other than a natural person) approved by (i) the Administrative
Agent, (ii) each Issuer and (iii) unless an Event of Default has occurred and is
continuing, the Company (each such approval not to be unreasonably withheld or
delayed); provided that,
notwithstanding the foregoing, “Eligible Assignee” shall not include the Company
or any of the Company’s Affiliates or Subsidiaries.

     

    “Environmental Claims”
means all material claims, however asserted, by any Governmental Authority or
other Person alleging potential liability or responsibility for violation of any
Environmental Law, or for release or injury to the environment.

     

    “Environmental Laws”
means all federal, state or local laws, statutes, rules, regulations, ordinances
and codes, together with all administrative orders, requests, licenses,
authorizations and permits of, and agreements with, any Governmental
Authorities, in each case relating to environmental, health, safety and land use
matters, including the Comprehensive Environmental Response, Compensation and
Liability Act of 1980, the Clean Air Act, the Federal Water Pollution Control
Act of 1972, the Solid Waste Disposal Act, the Federal Resource Conservation and
Recovery Act, the Toxic Substances Control Act, and the Emergency Planning and
Community Right-to-Know Act.

     

    “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 Company within the meaning of Section 414(b) or (c) of the Code (and
Sections 414(m) and (o) of the Code for purposes of provisions relating to
Section 412 of the Code).

     

    “ERISA Event” means
(a) a Reportable Event with respect to a Pension Plan or a Multiemployer Plan;
(b) a withdrawal by the Company 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 which is treated as such a withdrawal under Section 4062(e) of
ERISA; (c) a complete or partial withdrawal by the Company or any ERISA
Affiliate from a Multiemployer Plan or notification that a Multiemployer Plan is
in reorganization; (d) the commencement of proceedings by the PBGC to terminate
a Pension Plan or Multiemployer Plan; (e) a failure by the Company or an ERISA
Affiliate to make required contributions to a Pension Plan, Multiemployer Plan
or other Plan subject to Section 412 of the Code; (f) an event or condition
which might reasonably be expected to constitute grounds under Section 4042 of
ERISA for the termination of, or the appointment of a trustee to administer, any
Pension Plan or Multiemployer Plan; (g) the imposition of any liability under
Title IV of ERISA, other than PBGC premiums due but not delinquent under Section
4007 of ERISA, upon the Company or any ERISA Affiliate or (h) an application for
a funding waiver or an extension of any amortization period pursuant to Section
412 of the Code with respect to any Plan.

     

    “ERISA Termination
Event” means the filing of a notice of intent to terminate, or the
treatment of a Plan amendment as a termination under Section 4041 or 4041A of
ERISA of, a Pension Plan or Multiemployer Plan.

     

    “Eurodollar Advance”
means an Advance which bears interest at a Eurodollar Rate requested by the
Company pursuant to Section
2.02.

     

    “Eurodollar Base Rate”
means, with respect to a Eurodollar Advance for the relevant Interest Period,
the rate per annum equal to the rate determined by the Administrative Agent to
be the offered rate that appears on the Reuters Screen LIBOR01 page (or any
successor thereto) that displays an average British Bankers’ Association
Interest Settlement Rate for deposits in U.S. dollars (for delivery on the first
day of such Interest Period) with a term equivalent to such Interest Period,
determined as of approximately 11:00 a.m. (London time) two Business Days prior
to the first day of such Interest Period, provided that, (i) if
such Reuters Screen LIBOR01 page is not available to the Administrative Agent
for any reason, the applicable Eurodollar Base Rate for the relevant Interest
Period shall instead be the applicable British Bankers Association Interest
Settlement Rate for deposits in U.S. dollars as reported by any other generally
recognized financial information service as of 11:00 a.m. (London time) two
Business Days prior to the first day of such Interest Period, and having a
maturity equal to such Interest Period, and (ii) if no such British Bankers’
Association Interest Settlement Rate is available to the Administrative Agent,
the applicable Eurodollar Base Rate for the relevant Interest Period shall
instead be the rate determined by the Administrative Agent to be the rate at
which U.S. Bank or one of its Affiliate banks offers to place deposits in U.S.
dollars with first-class banks in the London interbank market at approximately
11:00 a.m. (London time) two Business Days prior to the first day of such
Interest Period, in the approximate amount of U.S. Bank’s relevant Eurodollar
Loan and having a maturity equal to such Interest Period.

     

    “Eurodollar Loan”
means a Loan which bears interest at a Eurodollar Rate requested by the Company
pursuant to Section
2.02.

     

    “Eurodollar Rate”
means, with respect to a Eurodollar Advance for the relevant Interest Period,
the sum of (i) the quotient of (a) the Eurodollar Base Rate applicable to such
Interest Period, divided by (b) one minus the Reserve Requirement (expressed as
a decimal) applicable to such Interest Period, plus (ii) the Applicable
Amount.

     

    “Event of Default”
means any of the events or circumstances specified in Section
8.01.

     

    “Exchange Act” means
the Securities Exchange Act of 1934.

     

    “Excluded Taxes”
means, in the case of each Bank or applicable Lending Installation and the
Administrative Agent, taxes imposed on its overall net income, and franchise
taxes imposed on it, by (i) the jurisdiction under the laws of which such Bank
or the Administrative Agent is incorporated or organized or (ii) the
jurisdiction in which the Administrative Agent’s or such Bank’s principal
executive office or such Bank’s applicable Lending Installation is
located.

     

    “Execution Date” means
the date set forth on the cover page of this Agreement.

     

    “Existing Credit
Agreement” - see the recitals.

     

    “Existing Letters of
Credit” means the letters of credit issued under the Existing Credit
Agreement that are listed on Schedule
2.16.

     

    “Federal Funds Effective
Rate” means, for any day, an interest 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 for such day (or, if such day is not a Business Day, for the
immediately preceding Business Day) by the Federal Reserve Bank of New York, or,
if such rate is not so published for any day which is a Business Day, the
average of the quotations at approximately 10:00 a.m. (Minneapolis time) on such
day on such transactions received by the Administrative Agent from three Federal
funds brokers of recognized standing selected by the Administrative Agent in its
sole discretion.

     

    “Fee Letter” means the
letter agreement referenced in Section
9.13.

     

    “Financial Contract”
means any agreement, device or arrangement providing for payments related to
fluctuations of interest rates, including, but not limited to, interest rate
swap or exchange agreements, interest rate cap or collar protection agreements
and interest rate options.

     

    “Floating Rate” means,
for any day, a rate per annum equal to (i) the Alternate Base Rate for such day
plus (ii) the Applicable Amount, in each case changing when and as the Alternate
Base Rate changes.

     

    “Floating Rate
Advance” means an Advance which bears interest at the Floating
Rate.

     

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

     

    “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” means generally
accepted accounting principles set forth from time to time in the opinions and
pronouncements of the Accounting Principles Board and the American Institute of
Certified Public Accountants and statements and pronouncements of the Financial
Accounting Standards Board (or agencies with similar functions of comparable
stature and authority within the U.S. accounting profession), which are
applicable to the circumstances as of the date of this Agreement.  The
term “consistently applied,” as used in connection therewith, means that the
accounting principles applied are consistent in all material respects with those
applied at prior dates or for prior periods.

     

    “Governmental
Authority” means any nation or government, any state or other political
subdivision thereof, any central bank (or similar monetary or regulatory
authority) thereof, any entity exercising executive, legislative, judicial,
regulatory or administrative functions of or pertaining to government, and any
corporation or other entity owned or controlled, through stock or capital
ownership or otherwise, by any of the foregoing.

     

    “Guaranty Obligation”
has the meaning specified in the definition of “Contingent
Obligation.”

     

    “Indebtedness” of any
Person means, without duplication, (a) all indebtedness for borrowed money; (b)
all redemption obligations in respect of Redeemable Preferred Stock; (c) all
obligations issued, undertaken or assumed as the deferred purchase price of
property or services (other than trade payables entered into in the ordinary
course of business on ordinary terms); (d) all reimbursement or payment
obligations (contingent or otherwise) with respect to Surety Instruments; (e)
all obligations evidenced by notes, bonds, debentures or similar instruments,
including obligations so evidenced incurred in connection with the acquisition
of property, assets or businesses; (f) all indebtedness created or arising under
any conditional sale or other title retention agreement, or incurred as
financing, in either case with respect to property acquired by the Person (even
though the rights and remedies of the seller or bank under such agreement in the
event of default are limited to repossession or sale of such property); (g) all
liabilities properly appearing on the Person’s balance sheet with respect to
capital leases; (h) net liabilities under Swap Contracts; (i) all indebtedness
referred to in clauses
(a) through (h) above secured by
(or for which the holder of such Indebtedness has an existing right, contingent
or otherwise, to be secured by) any Lien upon or in property (including accounts
and contracts rights) owned by such Person, even though such Person has not
assumed or become liable for the payment of such Indebtedness; (j) all
Securitization Obligations of such Person; and (k) all Guaranty Obligations in
respect of indebtedness or obligations of others of the kinds referred to in
clauses (a)
through (j)
above.  For all purposes of this Agreement, the Indebtedness of any
Person shall include all recourse Indebtedness of any partnership or joint
venture or limited liability company in which such Person is a general partner
or a joint venturer or a member.

     

    “Independent Auditor”
has the meaning specified in Section
6.01(a).

     

    “Insolvency
Proceeding” means, with respect to any Person, (a) any case, action or
proceeding with respect to such Person before any court or other Governmental
Authority relating to bankruptcy, reorganization, insolvency, liquidation,
receivership, dissolution, winding-up or relief of debtors, or (b) any general
assignment for the benefit of creditors, composition, marshalling of assets for
creditors, or other similar arrangement in respect of its creditors generally or
any substantial portion of its creditors undertaken under U.S. Federal, state or
foreign law, including the Bankruptcy Code.

     

    “Interest Period”
means, with respect to a Eurodollar Advance, a period of one, two, three or six
months commencing on a Business Day selected by the Company pursuant to this
Agreement.  Such Interest Period shall end on the day which
corresponds numerically to such date one, two, three or six months thereafter;
provided that
if there is no such numerically corresponding day in such next, second, third or
sixth succeeding month, such Interest Period shall end on the last Business Day
of such next, second, third or sixth succeeding month.  If an Interest
Period would otherwise end on a day which is not a Business Day, such Interest
Period shall end on the next succeeding Business Day; provided that if such
next succeeding Business Day falls in a new calendar month, such Interest Period
shall end on the immediately preceding Business Day.

     

    “International
Subsidiary” means Centennial International or any Subsidiary thereof
(other than any Project Finance Subsidiary).

     

    “IRS” means the
Internal Revenue Service, and any Governmental Authority succeeding to any of
its principal functions.

     

    “Issuer” means U.S.
Bank in its capacity as issuer of Letters of Credit hereunder and any other Bank
that may (with the consent of the Company and the Administrative Agent) issue
Letters of Credit hereunder, in each case in its capacity as issuer of a Letter
of Credit hereunder.

     

    “Joint Venture” means
a single-purpose corporation, partnership, limited liability company, joint
venture or other similar legal arrangement (whether created by contract or
conducted through a separate legal entity) now or hereafter formed by the
Company or any of its Subsidiaries with another Person in order to conduct a
common venture or enterprise with such Person.

     

    “LC Collateral
Account” has the meaning specified in Section
2.16(k).

     

    “Lending Installation”
means, with respect to a Bank or the Administrative Agent, any office, branch,
subsidiary or affiliate of such Bank or the Administrative Agent.

     

    “Lien” means any
security interest, mortgage, deed of trust, pledge, hypothecation, assignment,
charge or deposit arrangement, encumbrance, lien (statutory or other) or
preferential arrangement of any kind or nature whatsoever in respect of any
property (including those created by, arising under or evidenced by any
conditional sale or other title retention agreement, the interest of a lessor
under a capital lease, any financing lease having substantially the same
economic effect as any of the foregoing, or the filing of any financing
statement naming the owner of the asset to which such lien relates as debtor,
under the Uniform Commercial Code or any comparable law) and any contingent or
other agreement to provide any of the foregoing, but not including the interest
of a lessor under an operating lease.

     

    “Letter of Credit” has
the meaning specified in Section
2.16(a).  The term “Letter of Credit” includes each Existing
Letter of Credit.

     

    “Letter of Credit
Application” has the meaning specified in Section
2.16(c).

     

    “Letter of Credit Fee”
has the meaning specified in Section
2.16(d).

     

    “Letter of Credit
Obligations” means, at any time, the sum, without duplication, of (i) the
aggregate undrawn stated amount of all Letters of Credit at such time plus (ii)
the aggregate unpaid amount of all Reimbursement Obligations at such
time.

     

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

     

    “Loan Documents” means
this Agreement, the Notes, each Letter of Credit, each Letter of Credit
Application and the other documents and agreements contemplated
hereby.

     

    “Majority Banks” means
(a) as of any date of determination if the Commitments are then in effect, Banks
having in the aggregate in excess of 50% of the Aggregate Commitments; and (b)
as of any date of determination if the Commitments have then been terminated and
there are Loans outstanding, Banks with Outstanding Credit Exposures aggregating
in excess of 50% of the Aggregate Outstanding Credit Exposure.

     

    “Margin Stock” means
“margin stock” as such term is defined in Regulation T, U or X of the
FRB.

     

    “Material Adverse
Effect” means a material adverse effect on (i) the business, property,
condition (financial or otherwise) or results of operations of the Company and
its Subsidiaries taken as a whole, (ii) the ability of the Company to perform
its obligations under the Loan Documents, or (iii) the validity or
enforceability of any of the Loan Documents or the rights or remedies of the
Administrative Agent or the Banks thereunder.

     

    “Modification” and
“Modify” are
defined in Section
2.16(a).

     

    “Moody’s” means
Moody’s Investors Service, Inc. and any successor thereto that is a nationally
recognized rating agency (or if neither Moody’s Investors Service, Inc. nor any
such successor shall be in the business of rating long-term indebtedness, a
nationally recognized rating agency in the United States as mutually agreed
between the Majority Banks and the Company).

     

    “Multiemployer Plan”
means a “multiemployer plan” (within the meaning of Section 4001(a)(3) of ERISA)
to which the Company or any ERISA Affiliate makes, is making, or is obligated to
make contributions or, during the preceding three calendar years, has made, or
been obligated to make, contributions.

     

    “Non-U.S. Bank” has
the meaning specified in Section
3.05(d).

     

    “Note” means a
promissory note, in substantially the form of Exhibit C hereto,
duly executed by the Company and payable to the order of the applicable Bank,
including any amendment, modification, renewal or replacement of such promissory
note.

     

    “Notice of Assignment”
has the meaning specified in Section
10.08(e).

     

    “Obligations” means
all unpaid principal of and accrued and unpaid interest on the Loans, all
Reimbursement Obligations and accrued and unpaid interest thereon, all accrued
and unpaid fees and all expenses, reimbursements, indemnities and other
obligations of the Company to any Bank, any Issuer, the Administrative Agent or
any indemnified party hereunder arising under any Loan Document.

     

    “Opinions of Counsel”
means the written legal opinion of Paul K. Sandness, general counsel to the
Company and its Subsidiaries, substantially in the form of Exhibit B-1, and the
written legal opinion of Thelen Reid Brown Raysman & Steiner LLP, special
counsel to the Company and its Subsidiaries, substantially in the form of Exhibit B-2, together
with copies of all factual certificates and legal opinions upon which such
counsel has relied.

     

    “Organization
Documents” means, for any corporation or other entity, the certificate or
articles of incorporation (or similar formation document), the bylaws (or
similar governing document), any certificate of determination or instrument
relating to the rights of preferred equityholders of such Person, any
equityholder rights agreement, and all applicable resolutions of the board of
directors (or similar governing body) (or any committee thereof) of such
Person.

     

    “Other Taxes” has the
meaning specified in Section
3.05(b).

     

    “Outstanding Credit
Exposure” means, as to any Bank at any time, the sum of (a) the aggregate
principal amount of its Loans outstanding at such time, plus (b) its Pro Rata
Share of the Letter of Credit Obligations at such time.

     

    “Participant” has the
meaning specified in Section
10.08(a).

     

    “Payment Date” means
the last day of each March, June, September and December.

     

    “PBGC” means the
Pension Benefit Guaranty Corporation, or any Governmental Authority succeeding
to any of its principal functions under ERISA.

     

    “Pension Plan” means a
pension plan (as defined in Section 3(2) of ERISA) subject to Title IV of ERISA
which the Company or any ERISA Affiliate sponsors, maintains, or to which it
makes, is making, or is obligated to make contributions, or in the case of a
multiple employer plan (as described in Section 4064(a) of ERISA) has made
contributions at any time during the immediately preceding five (5) plan years
but excluding any Multiemployer Plan.

     

    “Permitted Liens” has
the meaning specified in Section
7.01.

     

    “Person” means an
individual, partnership, corporation, limited liability company, business trust,
joint stock company, trust, unincorporated association, joint venture or
Governmental Authority.

     

    “Plan” means an
employee benefit plan (as defined in Section 3(3) of ERISA) which the Company or
any ERISA Affiliate sponsors or maintains or to which the Company or any ERISA
Affiliate makes, is making, or is obligated to make contributions and includes
any Pension Plan or Multiemployer Plan.

     

    “Pricing Level” means,
for each Pricing Period, the pricing level set forth below opposite the Pricing
Rating achieved by the Company as of the first day of that Pricing Period
(subject to the provisions of the definition of “Pricing
Rating”):

     

    
      	
              Pricing
      Level

            	
              Pricing
      Rating

            
	
              1

            	
              At
      least A or A2

            
	
              2

            	
              At
      least A- or A3

            
	
              3

            	
              At
      least BBB+ or Baa1

            
	
              4

            	
              At
      least BBB or Baa2

            
	
              5

            	
              At
      least BBB- or Baa3

            
	
              6

            	
              BB+
      or Ba1 or below or not rated.

            

    

     

    “Pricing Level Change
Date” means, with respect to any change in the Pricing Level which
results in a change in the Applicable Amount, the date which is five Business
Days after the Administrative Agent has received evidence reasonably
satisfactory to it of such change.

     

    “Pricing Period” means
(a) the period commencing on the date of this Agreement and ending on the day
prior to the first Pricing Level Change Date to occur thereafter and (b) each
subsequent period commencing on each Pricing Level Change Date and ending the
day prior to the next Pricing Level Change Date.

     

    “Pricing Rating”
means, as of any date of determination of the Applicable Amount, (a) the rating
assigned by S&P or Moody’s to the outstanding senior unsecured
non-credit-enhanced long-term indebtedness of the Company or (b) if neither
S&P nor Moody’s has assigned a rating of the type described in clause (a), the
corporate rating assigned to the Company by S&P or the issuer rating
assigned to the Company by Moody’s; provided that (i) if
the Company is split-rated and the ratings differential is one Pricing Level,
the higher rating will apply, (ii) if the Company is split-rated and the ratings
differential is two Pricing Levels or more, the intermediate rating at the
midpoint will apply (or if there is no midpoint, the higher of the two
intermediate ratings will apply) and (iii) if only one of the two rating
agencies has assigned such a rating, the Pricing Level corresponding to such
rating shall apply.  For purposes hereof, the rating by each rating
agency as of any date shall be the applicable rating by such agency in effect at
the close of business on such date.

     

    “Prime Rate” means a
rate per annum equal to the prime rate of interest announced from time to time
by U.S. Bank or its parent (which is not necessarily the lowest rate charged to
any customer), changing when and as such prime rate changes.

     

    “Principal Operating
Subsidiaries” means each of (i) WBI Holdings, Inc., (ii) Fidelity
Exploration & Production Company and (iii) Knife River Corporation, and
their respective permitted successors.

     

    “Project Finance
Subsidiary” means any Subsidiary that meets each of the following
requirements: (a) it is primarily engaged, directly or indirectly, in the
ownership, operation and/or financing of independent power production and
related facilities and assets; (b) neither the Company nor any other Subsidiary
(other than another Project Finance Subsidiary) has any liability, contingent or
otherwise, for the Indebtedness or other obligations of such Subsidiary (other
than (i) non-recourse liability resulting solely from the pledge of stock of
such Subsidiary and (ii) to the extent permitted by Section 7.04); and
(c) it has Indebtedness owing to, or commitments therefor from, Persons other
than the Company and its Subsidiaries.

     

    “Pro Rata Share”
means, as to any Bank at any time, the percentage equivalent (expressed as a
decimal, rounded to the ninth decimal place) at such time of such Bank’s
Commitment divided by the Aggregate Commitment (or, if the Commitments have
terminated, of such Bank’s Outstanding Credit Exposure divided by the Aggregate
Outstanding Credit Exposure).

     

    “Purchasers” is
defined in Section
10.08(d).

     

    “Rate Option” means
the Eurodollar Rate or the Floating Rate.

     

    “Rate Option Notice”
is defined in Section
2.02(d).

     

    “Redeemable Preferred
Stock” of any Person means any equity interest of such Person that by its
terms (or by the terms of any equity interest into which it is convertible or
for which it is exchangeable), or otherwise (including on the happening of an
event), is required to be redeemed for cash or other property or is redeemable
for cash or other property at the option of the holder thereof, in whole or in
part, on or prior to the Termination Date; or is exchangeable for Indebtedness
at any time, in whole or in part, on or prior to the Termination Date; provided that
Redeemable Preferred Stock shall not include any equity interest by virtue of
the fact that it may be exchanged or converted at the option of the holder or of
the Company for equity interests of the Company having no preference as to
dividends, distributions or liquidation over any other equity interests of the
Company.

     

    “Regulation D” means
Regulation D of the FRB as from time to time in effect and any successor thereto
or other regulation or official interpretation of the FRB relating to reserve
requirements applicable to member banks of the Federal Reserve
System.

     

    “Reimbursement
Obligations” means, at any time, the aggregate of all obligations of the
Company then outstanding under Section 2.16 to
reimburse the Issuers for amounts paid by the Issuers in respect of any one or
more drawings under Letters of Credit.

     

    “Reportable Event”
means any of the events set forth in Section 4043(c) of ERISA or the regulations
thereunder, other than any such event for which the 30-day notice requirement
under ERISA has been waived in regulations issued by the PBGC.

     

    “Requirement of Law”
means, as to any Person, any law (statutory or common), treaty, rule or
regulation or determination of an arbitrator or of a Governmental Authority, in
each case applicable to or binding upon the Person or any of its property or to
which the Person or any of its property is subject.

     

    “Reserve Requirement”
means, with respect to an Interest Period, the maximum aggregate reserve
requirement (including all basic, supplemental, marginal and other reserves)
which is imposed under Regulation D on Eurocurrency liabilities during such
Interest Period.

     

    “Responsible Officer”
means the chief executive officer or the president of the Company, or any other
officer having substantially the same authority and responsibility; or, with
respect to compliance with financial covenants, the chief financial officer, the
treasurer or the assistant treasurer of the Company, or any other officer having
substantially the same authority and responsibility.  Any document or
certificate hereunder that is signed or executed by a Responsible Officer shall
be conclusively presumed to have been authorized by all necessary corporate,
partnership and/or other action on the part of the Company, and such officer
shall be conclusively presumed to have acted on behalf of the
Company.

     

    “Risk-Based Capital
Guidelines” has the meaning specified in Section
3.02.

     

    “S&P” means
Standard & Poor’s Ratings Group, a division of The McGraw-Hill Companies
Inc., and any successor thereto that is a nationally recognized rating agency
(or, if neither such division nor any successor shall be in the business of
rating long-term indebtedness, a nationally recognized rating agency in the
United States as mutually agreed between the Majority Banks and the
Company).

     

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

     

    “Securitization
Obligations” means, with respect to any Securitization Transaction, the
aggregate investment or claim held at any time by all purchasers, assignees or
transferees of (or of interests in) or holders of obligations that are supported
or secured by accounts receivable, lease receivables and other rights to payment
in connection with such Securitization Transaction.

     

    “Securitization
Transaction” means any sale, assignment or other transfer by the Company
or any Subsidiary (other than a Project Finance Subsidiary) of accounts
receivable, lease receivables or other payment obligations owing to the Company
or such Subsidiary or any interest in any of the foregoing, together in each
case with any collections and other proceeds thereof, any collection or deposit
accounts related thereto, and any collateral, guaranties or other property or
claims in favor of the Company or such Subsidiary supporting or securing payment
by the obligor thereon of, or otherwise related to, any such
receivables.

     

    “Significant
Subsidiary” means a “Significant Subsidiary” as defined in Rule 1-02(w)
of Regulation S-X of the SEC, as in effect on the date hereof.

     

    “Solvent” means, as to
any Person at any time, that (a) the fair value of the property of such Person
is greater than the amount of such Person’s liabilities (including the probable
liability of such Person on disputed, contingent and unliquidated liabilities)
as such value is established and liabilities evaluated for purposes of Section
101(32) of the Bankruptcy Code; (b) the present fair saleable value of the
property of such Person is not less than the amount that will be required to pay
the probable liability of such Person on its debts as they become absolute and
matured; (c) such Person is able to realize upon its property and pay its debts
and other liabilities (including the probable liability of such Person on
disputed, contingent and unliquidated liabilities) as they mature in the normal
course of business; (d) such Person does not intend to, and does not believe
that it will, incur debts or liabilities beyond such Person’s ability to pay as
such debts and liabilities mature; and (e) such Person is not engaged in
business or a transaction, and is not about to engage in business or a
transaction, for which such Person’s property would constitute unreasonably
small capital.

     

    “Subsidiary” of a
Person means any corporation, association, partnership, limited liability
company, joint venture or other business entity of which more than 50% of the
voting stock, membership interests or other equity interests (in the case of
Persons other than corporations), is owned or controlled directly or indirectly
by the Person, or one or more of the Subsidiaries of the Person, or a
combination thereof.  Unless the context otherwise clearly requires,
references herein to a “Subsidiary” refer to a Subsidiary of the
Company.

     

    “Surety Instruments”
means all letters of credit (including standby and commercial), banker’s
acceptances, bank guaranties, shipside bonds, surety bonds and similar
instruments.

     

    “Swap Contract” means
swap agreements (as such term is defined in Section 101(53B) of the Bankruptcy
Code) and any other agreements or arrangements designed to provide protection
against fluctuations in interest or currency exchange rates or commodity prices,
including, but not limited to, Commodity Contracts and Financial
Contracts.

     

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

     

    “Taxes” means any and
all present or future taxes, duties, levies, imposts, deductions, charges or
withholdings, and any and all liabilities with respect to the foregoing, but
excluding Excluded Taxes and Other Taxes.

     

    “Termination Date”
means December 13, 2012 or any earlier date on which the Aggregate Commitment is
reduced to zero or otherwise terminated pursuant to the terms
hereof.

     

    “Total Capitalization”
means, with respect to any Person, the sum of (a) the total consolidated
stockholders’ or owners’ equity of such Person determined in accordance with
GAAP (excluding any non-cash gain or loss with respect to Covered Contracts
resulting from the requirements of FASB Statement No. 133, “Accounting for
Derivative Instruments and Hedging Activities”) plus (b) the Total Debt of such
Person.

     

    “Total Debt” means,
with respect to any Person, the total consolidated Indebtedness of such Person,
excluding (a)
Indebtedness under Covered Contracts and (b) 80% of the amount of all contingent
reimbursement or payment obligations with respect to unsecured surety bonds
incurred in the ordinary course of business includable in the computation of
“Indebtedness” pursuant to item (d) of the definition thereof but for this
exclusion.

     

    “Transferee” is
defined in Section
10.08(f).

     

    “Type” means with
respect to any Advance, its nature as a Floating Rate Advance or a Eurodollar
Advance.

     

    “Unfunded Pension
Liability” means the excess of a Pension Plan’s benefit liabilities under
Section 302(d)(7) of ERISA, over the current value of that Plan’s assets,
determined in accordance with the assumptions used for funding the Pension Plan
pursuant to Section 412 of the Code for the applicable plan year.

     

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

     

    “U.S. Bank” means U.S.
Bank National Association.

     

    “Wholly-Owned
Subsidiary” means any entity in which (other than, in the case of a
corporation, directors’ qualifying shares required by law) 100% of the capital
stock or other equity interests of each class, if applicable, having ordinary
voting power, and 100% of the capital stock or other equity interests of every
other class, if applicable, in each case, at the time as of which any
determination is being made, is owned, beneficially and of record, by the
Company, or by one or more of the other Wholly-Owned Subsidiaries, or
both.

     

    “Williston Basin” is
defined in Section
7.05.

     

    1.02  Other Interpretive
Provisions.  (a) The meanings
of defined terms are equally applicable to the singular and plural forms of the
defined terms.

    (b)  The words
“hereof”, “herein”, “hereunder” and similar words refer to this Agreement as a
whole and not to any particular provision of this Agreement; and Section,
Schedule, Article and Exhibit references are to this Agreement unless otherwise
specified.

    (c)   (i)      The
term “documents” includes any and all instruments, documents, agreements,
certificates, indentures, notices and other writings, however
evidenced.

    (ii)  The term
“including” is not limiting and means “including without
limitation.”

    (iii)  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.”

    (iv)  The term
“property” includes any kind of property or asset, real, personal or mixed,
tangible or intangible.

    (d)  Unless
otherwise expressly provided herein, (i) references to agreements (including
this Agreement) and other contractual instruments shall be deemed to include all
subsequent amendments and other modifications thereto, but only to the extent
such amendments and other modifications are not prohibited by the terms of any
Loan Document, and (ii) references to any statute or regulation are to be
construed as including all statutory and regulatory provisions consolidating,
amending, replacing, supplementing or interpreting the statute or
regulation.

    (e)  The
captions and headings of this Agreement are for convenience of reference only
and shall not affect the interpretation of this Agreement.

    (f)  This
Agreement and other Loan Documents may use several different limitations, tests
or measurements to regulate the same or similar matters.  All such
limitations, tests and measurements are cumulative and shall each be performed
in accordance with their terms.  Unless otherwise expressly provided,
any reference to any action of the Administrative Agent or the Banks by way of
consent, approval or waiver shall be deemed modified by the phrase “in its/their
sole discretion.”

    (g)  This
Agreement and the other Loan Documents are the result of negotiations among and
have been reviewed by counsel to the Administrative Agent, the Company and the
other parties, and are the products of all parties.  Accordingly, they
shall not be construed against the Banks or the Administrative Agent merely
because of the Administrative Agent’s or Banks’ involvement in their
preparation.

     

    1.03  Accounting
Principles.  (a)  Unless the context otherwise
clearly requires, all accounting terms not expressly defined herein shall be
construed, and all financial computations required under this Agreement shall be
made, in accordance with GAAP, consistently applied.  If GAAP changes
during the term of this Agreement such that the financial covenants would then
be calculated in a different manner or with different components, (i) the
Company, the Administrative Agent and the Banks agree to amend this Agreement in
such respects as are necessary to conform those covenants as criteria for
evaluating the Company’s financial condition to substantially the same criteria
as were effective prior to such change in GAAP and (ii) the Company shall be
deemed to be in compliance with the covenants contained in the aforesaid
Sections during the 90-day period following any such change in GAAP if and to
the extent that the Company would have been in compliance therewith under GAAP
as in effect immediately prior to such change.

    (b)  References
herein to “fiscal year” and “fiscal quarter” refer to such fiscal periods of the
Company.

     

    1.04  Amendment and
Restatement.  The Company and the Banks acknowledge and
agree that (a) effective at the time at which all conditions precedent set forth
in Section 4.01
have been satisfied, this Agreement shall amend and restate in its entirety the
Existing Credit Agreement and (b) there are no outstanding Loans under the
Existing Credit Agreement.

    ARTICLE
II   

     

    THE
FACILITY

     

    2.01  The
Facility.

    (a)  Commitments of the
Banks.  Each Bank severally agrees to make revolving loans
(each a “Loan”)
to the Company, and each Issuer agrees to issue Letters of Credit for the
account of the Company (or jointly for the account of the Company and Centennial
International) in an aggregate amount not to exceed $400,000,000 (and each Bank
severally agrees to participate in each such Letter of Credit as more fully set
forth in Section
2.16), from time to time on or prior to the Termination Date; provided that (i) the
aggregate amount of the outstanding Letter of Credit Obligations shall not
exceed $75,000,000, (ii) the aggregate stated amount of Letters of Credit issued
jointly for the account of the Company and Centennial International shall not at
any time exceed $50,000,000, (iii) after giving effect to any Credit Extension
(and the use of proceeds thereof), the Company shall be in compliance with the
last sentence of Section 7.12, (iv)
the Outstanding Credit Exposure of any Bank shall not at any time exceed such
Bank’s Commitment and (v) the Aggregate Outstanding Credit Exposure shall not at
any time exceed the Aggregate Commitment.  Subject to the terms of
this Agreement, the Company may borrow, repay and reborrow Loans at any time
prior to the Termination Date.

    (b)  Repayment of
Facility.  The principal amount of each Advance and all other
unpaid Obligations shall be paid in full by the Company on the Termination
Date.

     

    2.02  Advances.

    (a)  Advances.  Each
Advance hereunder shall consist of borrowings made from the several Banks
ratably in proportion to the amounts of their respective
Commitments.  Advances shall be evidenced by the Notes.

    (b)  Advance Rate
Options.  The Advances may be Floating Rate Advances or
Eurodollar Advances, or a combination thereof, selected by the Company in
accordance with Section
2.02(c).  No Advance may mature after the Termination
Date.

    (c)  Method of Selecting Rate
Options and Interest Periods for Advances.  The Company shall
select the Rate Option and, in the case of each Eurodollar Advance, the Interest
Period applicable thereto, from time to time.  The Company shall give
the Administrative Agent irrevocable notice (a “Borrowing Notice”)
substantially in the form of Exhibit H not later
than 10:00 a.m. (Minneapolis time) at least one Business Day before the
Borrowing Date of each Floating Rate Advance and at least three Business Days
before the Borrowing Date for each Eurodollar Advance.  A Borrowing
Notice shall specify:

    (i)  the
Borrowing Date, which shall be a Business Day, of such Advance,

    (ii)  the
aggregate amount of such Advance,

    (iii)  the Rate
Option selected for such Advance, and

    (iv)  in the
case of each Eurodollar Advance, the Interest Period applicable thereto (which
may not end after the Termination Date).

    (d)  Conversion and Continuation
of Outstanding Advances.  Floating Rate Advances shall continue
as Floating Rate Advances unless and until such Floating Rate Advances are
either converted into Eurodollar Advances in accordance with this Section 2.02(d) or
are prepaid in accordance with Section
2.06.  Each Eurodollar Advance shall continue as a Eurodollar
Advance until the end of the then applicable Interest Period therefor, at which
time such Eurodollar Advance shall be automatically converted into a Floating
Rate Advance unless such Eurodollar Advance shall have been either (a) prepaid
in accordance with Section 2.06 or (b)
continued as a Eurodollar Advance for the same or another Interest Period in
accordance with this Section
2.02(d).  Subject to the terms of Section 2.05, the
Company may elect from time to time to convert and/or continue the Rate Option
applicable to all or any part of an Advance into another Rate Option; provided that any
conversion or continuation of any Eurodollar Advance shall be made on, and only
on, the last day of the Interest Period applicable thereto.  The
Company shall give the Administrative Agent irrevocable notice (a “Rate Option Notice”)
of each conversion of a Floating Rate Advance into a Eurodollar Advance, or
continuation of a Eurodollar Advance, not later than 10:00 a.m. (Minneapolis
time) at least three Business Days prior to the date of the requested conversion
or continuation, specifying:

    (i)  the
requested date, which shall be a Business Day, of such conversion or
continuation,

    (ii)  the
aggregate amount and Rate Option applicable to the Advance which is to be
converted or continued, and

    (iii)  the
amount and Rate Option(s) of Advance(s) into which such Advance is to be
converted or continued and, in the case of a conversion into or continuation of
a Eurodollar Advance, the duration of the Interest Period applicable
thereto.

     

    2.03  Method of
Borrowing.  Not later than
noon (Minneapolis time) on each Borrowing Date, each Bank shall make available
its Loan or Loans, in funds immediately available in Minneapolis to the
Administrative Agent at its address specified pursuant to Section
10.02.  The Administrative Agent will make the funds so
received from the Banks available to the Company at the Administrative Agent’s
aforesaid address.  Notwithstanding the foregoing provisions of this
Section 2.03,
to the extent that a Loan made by a Bank matures on the Borrowing Date of a
requested Loan, such Bank shall apply the proceeds of the Loan it is then making
to the repayment of principal of the maturing Loan.

     

    2.04  Fees; Changes in Aggregate
Commitment.

    (a)  Facility
Fee.  The Company agrees to pay to the Administrative Agent for
the account of each Bank a facility fee equal to the Applicable Amount on the
average daily amount of such Bank’s Commitment (whether used or unused) from the
date hereof to and including the Termination Date, payable in arrears on each
Payment Date hereafter and on the Termination Date.

    (b)  Utilization
Fee.  In addition to the foregoing, for each and any day on
which the Aggregate Outstanding Credit Exposure exceeds an amount equal to fifty
percent (50%) of the Aggregate Commitment, the Company shall pay to the
Administrative Agent for the account of each Bank a utilization fee equal to the
Applicable Amount times such Bank’s Outstanding Credit Exposure on such day,
payable in arrears on each Payment Date hereafter and on the Termination
Date.

    (c)  Changes in Aggregate
Commitment.

    (A)  The
Company may permanently reduce the Aggregate Commitment in whole, or in part
ratably among the Banks in integral multiples of $1,000,000, upon at least ten
Business Days’ written notice to the Administrative Agent, which notice shall
specify the amount of any such reduction; provided that the
amount of the Aggregate Commitment may not be reduced below the Aggregate
Outstanding Credit Exposure.  All accrued facility fees shall be
payable on the effective date of any termination of the obligations of the Banks
to make Loans hereunder.

    (B)  So long
as no Default or Event of Default exists, the Company may, from time to time, by
means of a letter delivered to the Administrative Agent substantially in the
form of Exhibit
G, request that the Aggregate Commitment be increased, by a minimum
amount of $25,000,000 and higher integral multiples of $5,000,000, to an amount
up to $450,000,000 by (a) increasing the Commitment of one or more Banks which
have agreed to such increase and/or (b) adding one or more commercial banks or
other Persons as a party hereto (each an “Additional Bank”)
with a Commitment in an amount agreed to by any such Additional Bank; provided that no
Additional Bank shall be added as a party hereto without the written consent of
the Administrative Agent (which shall not be unreasonably
withheld).  Any increase in the Aggregate Commitment pursuant to this
clause (B)
shall be effective three Business Days after the date on which the
Administrative Agent has received and accepted the applicable increase letter in
the form of Annex
I to Exhibit
G (in the case of an increase in the Commitment of an existing Bank) or
assumption letter in the form of Annex II to Exhibit G (in the
case of the addition of a commercial bank or other Person as a new
Bank).  The Administrative Agent shall promptly notify the Company and
the Banks of any increase in the amount of the Aggregate Commitment pursuant to
this clause (B)
and of the Commitment of each Bank after giving effect thereto.  The
Company acknowledges that, in order to maintain Advances in accordance with each
Bank’s pro-rata share of all outstanding Advances prior to any increase in the
Aggregate Commitment pursuant to this clause (B), a
reallocation of the Commitments as a result of a non-pro-rata increase in the
Aggregate Commitment may require prepayment of all or portions of certain
Advances on the date of such increase (and any such prepayment shall be subject
to the provisions of Section
3.04).

     

    2.05  Minimum Amount of Each
Advance.  Each Eurodollar Advance shall be in the
minimum amount of $5,000,000 (and in multiples of $1,000,000 if in excess
thereof), and each Floating Rate Advance shall be in the minimum amount of
$1,000,000 (and in multiples of $1,000,000 if in excess thereof); provided that any
Floating Rate Advance may be in the amount of the unused
Commitments.  The Company shall not request a Eurodollar Advance if,
after giving effect to the requested Eurodollar Advance, more than 10 separate
Eurodollar Advances would be outstanding.

     

    2.06  Optional Principal
Payments.  The Company may from time to time pay,
without penalty or premium, all outstanding Floating Rate Advances, or, in a
minimum aggregate amount of $1,000,000 or any integral multiple of $1,000,000 in
excess thereof, any portion of the outstanding Floating Rate Advances upon one
Business Day’s prior notice to the Administrative Agent.  The Company
may from time to time pay all (but not less than all) of a Eurodollar Advance
upon three Business Days’ prior notice to the Administrative Agent, without
penalty or premium, but subject to any funding indemnification as provided in
Section
3.04.

     

    2.07  Changes in Interest Rate,
etc.  Each Floating Rate Advance shall bear interest on
the outstanding principal amount thereof, for each day from and including the
date such Advance is made or is converted from a Eurodollar Advance into a
Floating Rate Advance pursuant to Section 2.02(d) to
but excluding the date it is paid (except as otherwise provided in Section 2.08) or is
converted into a Eurodollar Advance pursuant to Section 2.02(d), at a
rate per annum equal to the Floating Rate for such day.  Changes in
the rate of interest on that portion of any Advance maintained as a Floating
Rate Advance will take effect simultaneously with each change in the Alternate
Base Rate.  Each Eurodollar Advance shall bear interest on the
outstanding principal amount thereof from and including the first day of the
Interest Period applicable thereto to (but not including) the last day of such
Interest Period at the interest rate determined as applicable to such Eurodollar
Advance.

     

    2.08  Rates Applicable After
Default.  Notwithstanding anything to the contrary
contained in Section
2.02(c) or Section 2.02(d),
during the continuance of a Default or an Event of Default the Majority Banks
may, at their option, by notice to the Company (which notice may be revoked at
the option of the Majority Banks notwithstanding any provision of Section 10.01
requiring unanimous consent of the Banks to changes in interest rates), declare
that no Advance may be made as, converted into or continued as a Eurodollar
Advance.  If any Advance is not paid at maturity, whether by
acceleration or otherwise, the Majority Banks may, at their option, by notice to
the Company (which notice may be revoked at the option of the Majority Banks
notwithstanding any provision of Section 10.01
requiring unanimous consent of the Banks to changes in interest rates), declare
that (i) each Eurodollar Advance shall bear interest for the remainder of the
applicable Interest Period at the rate otherwise applicable to such Interest
Period plus 2% per annum, (ii) each Floating Rate Advance shall bear interest at
a rate per annum equal to the Floating Rate otherwise applicable to such
Floating Rate Advance plus 2% per annum and (iii) the rate applicable to the
Letter of Credit Fee shall be increased by 2% per
annum.  

     

    2.09  Method of
Payment.  All payments of the Obligations hereunder
shall be made, without setoff, deduction, or counterclaim, in immediately
available funds, to the Administrative Agent at the Administrative Agent’s
address specified pursuant to Section 10.02, or at
any other Lending Installation of the Administrative Agent specified in writing
by the Administrative Agent to the Company, by noon (local time) on the date
when due and shall be applied ratably by the Administrative Agent among the
Banks to the payment of all Obligations then due and payable, if any, and
otherwise to the payment of the remaining Obligations.  Each payment
delivered to the Administrative Agent for the account of any Bank shall be
delivered promptly by the Administrative Agent to such Bank in the same type of
funds that the Administrative Agent received at its address specified pursuant
to Section
10.02 or at any Lending Installation specified in a notice received by
the Administrative Agent from such Bank.  The Administrative Agent is
hereby authorized to charge the account of the Company maintained with the
Administrative Agent (and/or its Affiliates) for each payment of principal,
interest and fees as it becomes due hereunder.

     

    2.10  Evidence of Debt; Telephonic
Notices.  The Credit Extensions made by each Bank shall
be evidenced by one or more accounts or records maintained by such Bank and by
the Administrative Agent in the ordinary course of business.  The
accounts or records maintained by the Administrative Agent and each Bank shall
be conclusive absent manifest error of the amount of the Credit Extensions made
by the Banks to the Company and the interest and payments
thereon.  Any failure to so record or any error in doing so shall not,
however, limit or otherwise affect the obligation of the Company hereunder to
pay any amount owing hereunder.  In the event of any conflict between
the accounts and records maintained by any Bank and the accounts and records of
the Administrative Agent in respect of such matters, the accounts and records of
the Administrative Agent shall control in the absence of manifest
error.  Upon the request of any Bank made through the Administrative
Agent, the Company shall execute and deliver to such Bank (through the
Administrative Agent) a Note, which shall evidence such Bank’s Loans in addition
to such accounts or records.  Each Bank may attach schedules to its
Note and endorse thereon the date, Type (if applicable), amount and maturity of
its Loans and payments with respect thereto.  The Company hereby
authorizes the Banks and the Administrative Agent to extend, convert or continue
Advances, effect selections of Rate Options and transfer funds based on
telephonic notices made by any person or persons the Administrative Agent or any
Bank in good faith believes to be acting on behalf of the
Company.  The Company agrees to deliver promptly to the Administrative
Agent a written confirmation, if such confirmation is requested by the
Administrative Agent or any Bank, of each telephonic notice signed by a
Responsible Officer.  If the written confirmation differs in any
material respect from the action taken by the Administrative Agent and the
Banks, the records of the Administrative Agent and the Banks shall govern absent
manifest error.

     

    2.11  Interest Payment Dates;
Interest and Fee Basis.  Interest accrued on each
Floating Rate Advance shall be payable on each Payment Date hereafter and at
maturity.  Interest accrued on each Eurodollar Advance shall be
payable on the last day of its applicable Interest Period, on any date on which
the Eurodollar Advance is prepaid, whether by acceleration or otherwise, and at
maturity.  Interest accrued on each Eurodollar Advance having an
Interest Period longer than three months shall also be payable on the last day
of each three-month interval during such Interest Period.  Interest
and fees shall be calculated for actual days elapsed on the basis of a 360-day
year, with the exception that interest on Floating Rate Advances shall be
calculated on the basis of a 365 or 366 day year, as
appropriate.  Interest shall be payable for the day an Advance is made
but not for the day of any payment on the amount paid if payment is received
prior to noon (local time) at the place of payment.  If any payment of
principal of or interest on an Advance shall become due on a day which is not a
Business Day, such payment shall be made on the next succeeding Business Day
and, in the case of a principal payment, such extension of time shall be
included in computing interest in connection with such payment.

     

    2.12  Notification of Advances,
Interest Rates, Prepayments and Commitment
Changes.  Promptly after receipt thereof, the
Administrative Agent will notify each Bank of the contents of each Aggregate
Commitment reduction or increase notice, Borrowing Notice, Rate Option Notice
and repayment notice received by it hereunder.  The Administrative
Agent will notify each Bank of the interest rate applicable to each Eurodollar
Advance promptly upon determination of such interest rate and will give each
Bank prompt notice of each change in the Alternate Base
Rate.  

     

    2.13  Lending
Installations.  Each Bank may book its Loans at any
Lending Installation selected by such Bank and may change its Lending
Installation from time to time.  All terms of this Agreement shall
apply to any such Lending Installation and the Loans shall be deemed held by
each Bank for the benefit of such Lending Installation.  Each Bank
may, by written or telex notice to the Administrative Agent and the Company,
designate a Lending Installation through which Loans will be made by it and for
whose account Loan payments are to be made.

     

    2.14  Non-Receipt of Funds by the
Administrative Agent.  Unless the Company or a Bank, as
the case may be, notifies the Administrative Agent prior to the date on which it
is scheduled to make payment to the Administrative Agent of (i) in the case of a
Bank, the proceeds of a Loan or (ii) in the case of the Company, a payment of
principal, interest or fees to the Administrative Agent for the account of the
Banks, that it does not intend to make such payment, the Administrative Agent
may assume that such payment has been made.  The Administrative Agent
may, but shall not be obligated to, make the amount of such payment available to
the intended recipient in reliance upon such assumption.  If such Bank
or the Company, as the case may be, has not in fact made such payment to the
Administrative Agent, the recipient of such payment shall, on demand by the
Administrative Agent, repay to the Administrative Agent the amount so made
available together with interest thereon in respect of each day during the
period commencing on the date such amount was so made available by the
Administrative Agent until the date the Administrative Agent recovers such
amount at a rate per annum equal to (i) in the case of payment by a Bank, the
Federal Funds Effective Rate for such day or (ii) in the case of payment by the
Company, the interest rate applicable to the relevant Loan.

     

    2.15  Replacement of
Bank.  If the Company is required pursuant to Section 3.01, 3.02 or 3.05 to make any
additional payment to any Bank or if any Bank’s obligation to make or continue,
or to convert Floating Rate Advances into, Eurodollar Advances shall be
suspended pursuant to Section 3.03 (any
Bank so affected, an “Affected Bank”), the
Company may elect, if such amounts continue to be charged or such suspension is
still effective, to replace such Affected Bank as a Bank party to this Agreement
(unless such replacement would not reduce or eliminate such amounts or eliminate
such suspension); provided that no
Default or Event of Default shall have occurred and be continuing at the time of
such replacement and such replacement would not result in the violation of any
Requirement of Law by such Affected Bank; and provided, further, that,
concurrently with such replacement, (A) another bank or other entity which is
reasonably satisfactory to the Company and the Administrative Agent shall agree,
as of such date, to purchase for cash the Advances and other Obligations due to
such Affected Bank pursuant to an assignment substantially in the form of Exhibit F and to
become a Bank for all purposes under this Agreement and to assume all
obligations of such Affected Bank to be terminated as of such date and to comply
with the requirements of Section 10.08
applicable to assignments (it being understood that such Affected Bank shall not
be obligated to pay the processing fee described in Section 10.08(e)(ii)
in connection with any such assignment) and (B) the Company shall pay to such
Affected Bank in same day funds on the day of such replacement (1) all interest,
fees and other amounts then accrued but unpaid to such Affected Bank by the
Company hereunder to and including the date of termination, including without
limitation payments due to such Affected Bank under Sections 3.01, 3.02 and 3.05, and (2) an
amount, if any, equal to the payment which would have been due to such Bank on
the day of such replacement under Section 3.04 had the
Loans of such Affected Bank been prepaid on such date rather than sold to the
replacement Bank.

     

    2.16  Letters of
Credit.

    (a)  Issuance.  Each
Issuer hereby agrees, on the terms and conditions set forth in this Agreement,
to issue standby letters of credit (each a “Letter of Credit”)
and to renew, extend, increase, decrease or otherwise modify Letters of Credit
(“Modify,” and
each such action a “Modification”) from
time to time from and including the date of this Agreement and prior to the
Termination Date upon the request of the Company; provided that
immediately after each such Letter of Credit is issued (or, in the case of the
Existing Letters of Credit, deemed issued hereunder) or Modified, (i) the
aggregate amount of the outstanding Letter of Credit Obligations shall not
exceed $75,000,000 (ii) the aggregate stated amount of Letters of Credit issued
jointly for the account of the Company and Centennial International shall not
exceed $50,000,000 and (iii) the Aggregate Outstanding Credit Exposure shall not
exceed the Aggregate Commitment.  No Letter of Credit shall have an
expiry date later than the earlier of (x) one year after the issuance thereof
and (y) five Business Days prior to the Termination Date.

    (b)  Participations.  Upon
the issuance or Modification by an Issuer of a Letter of Credit in accordance
with this Section
2.16 (or, in the case of any Existing Letter of Credit, on the date
hereof), such Issuer shall be deemed, without further action by any Person, to
have unconditionally and irrevocably sold to each Bank, and each Bank shall be
deemed, without further action by any Person, to have unconditionally and
irrevocably purchased from such Issuer, a participation in such Letter of Credit
(and each Modification thereof) and the related Letter of Credit Obligations in
proportion to its Pro Rata Share.

    (c)  Notice.  Subject
to Section
2.16(a), the Company shall give the applicable Issuer notice prior to
10:00 a.m. (Minneapolis time) at least three Business Days (or such lesser
period of time as such Issuer may agree in its sole discretion) prior to the
proposed date of issuance or Modification of each Letter of Credit (other than
an Existing Letter of Credit), (i) specifying the beneficiary, the proposed date
of issuance (or Modification) and the expiry date of such Letter of Credit, (ii)
describing the proposed terms of such Letter of Credit and the nature of the
transactions proposed to be supported thereby and (iii) if such Letter of Credit
is to be issued jointly for the account of the Company and Centennial
International, confirming that, after giving effect to the issuance of such
Letter of Credit, the Company is in compliance with the last sentence of Section
7.12.  Upon receipt of such notice, such Issuer shall promptly
notify the Administrative Agent, and the Administrative Agent shall promptly
notify each Bank, of the contents thereof and of the amount of such Bank’s
participation in such proposed Letter of Credit.  The issuance or
Modification by an Issuer of any Letter of Credit shall, in addition to the
conditions precedent set forth in Article IV (the
satisfaction of which such Issuer shall have no duty to ascertain, it being
understood, however, that such Issuer shall not issue any Letter of Credit if it
has received written notice from the Company, the Administrative Agent or any
Bank that any such conditions precedent have not been satisfied), be subject to
the conditions precedent that such Letter of Credit shall be satisfactory to
such Issuer and that the Company shall have executed and delivered such
application agreement and/or such other instruments and agreements relating to
such Letter of Credit as such Issuer shall have reasonably requested (each a
“Letter of Credit
Application”).  In the event of any conflict between the terms
of this Agreement and the terms of any Letter of Credit Application, the terms
of this Agreement shall control.

    (d)  Letter of Credit
Fees.  The Company shall pay to the Administrative Agent, for
the account of the Banks ratably in accordance with their respective Pro Rata
Shares, with respect to each Letter of Credit, a letter of credit fee (the
“Letter of Credit
Fee”) at a per annum rate equal to the Applicable Amount in effect from
time to time on the maximum undrawn amount which may at any time thereafter be
available under such Letter of Credit, such fee to be payable in arrears on each
Payment Date hereafter, on the Termination Date and thereafter on
demand.  The Company shall also pay to each Issuer for its own account
(x) a fronting fee in an amount equal to 0.10% per annum of the average daily
stated amount of each Letter of Credit, with such fee to be payable in arrears
on each Payment Date hereafter, and (y) documentary and processing charges in
connection with the issuance or Modification of and draws under the applicable
Letters of Credit in accordance with such Issuer’s standard schedule for such
charges as in effect from time to time.

    (e)  Administration;
Reimbursement by Banks.  Upon receipt from the beneficiary of
any Letter of Credit of any demand for payment under such Letter of Credit, the
applicable Issuer shall notify the Administrative Agent and the Administrative
Agent shall promptly notify the Company and each other Bank as to the amount to
be paid by such Issuer as a result of such demand and the proposed payment date
(the “Letter of Credit
Payment Date”).  The responsibility of any Issuer to the
Company and each Bank shall be only to determine that the documents delivered
under each applicable Letter of Credit in connection with a demand for payment
are in conformity in all material respects with such Letter of
Credit.  Each Issuer shall endeavor to exercise the same care in its
issuance and administration of Letters of Credit as it does with respect to
letters of credit in which no participations are granted, it being understood
that in the absence of any gross negligence or willful misconduct by such
Issuer, each Bank shall be unconditionally and irrevocably obligated, without
regard to the occurrence of any Default or any condition precedent whatsoever,
to reimburse such Issuer on demand for (i) such Bank’s Pro Rata Share of the
amount of each payment made by such Issuer under each Letter of Credit to the
extent such amount is not reimbursed by the Company pursuant to Section 2.16(f)
below, plus (ii) interest on the foregoing amount, for each day from the date of
the applicable payment by such Issuer to the date on which such Issuer is
reimbursed by such Bank for its Pro Rata Share thereof, at a rate per annum
equal to the Federal Funds Effective Rate or, beginning on third Business Day
after demand for such amount by such Issuer, the rate applicable to Floating
Rate Advances.

    (f)  Reimbursement by
Company.  The Company shall be irrevocably and unconditionally
obligated to reimburse each Issuer on or before the applicable Letter of Credit
Payment Date for any amount to be paid by such Issuer upon any drawing under any
Letter of Credit, without presentment, demand, protest or other formalities of
any kind; provided that the
Company shall not be precluded from asserting any claim for direct (but not
consequential) damages suffered by the Company to the extent, but only to the
extent, caused by (i) the willful misconduct or gross negligence of such Issuer
in determining whether a request presented under any Letter of Credit complied
with the terms of such Letter of Credit or (ii) such Issuer’s failure to pay
under any Letter of Credit after the presentation to it of a request strictly
complying with the terms and conditions of such Letter of Credit.  All
such amounts paid by the applicable Issuer and remaining unpaid by the Company
shall bear interest, payable on demand, for each day until paid at a rate per
annum equal to the sum of 2% plus the rate applicable to Floating Rate
Advances.  Each Issuer will pay to each Bank ratably in accordance
with its Pro Rata Share all amounts received by it from the Company for
application in payment, in whole or in part, of the Reimbursement Obligation in
respect of any Letter of Credit issued by such Issuer, but only to the extent
such Bank made payment to such Issuer in respect of such Letter of Credit
pursuant to Section
2.16(e).

    (g)  Obligations
Absolute.  The Company’s obligations under this Section 2.16 shall be
absolute and unconditional under any and all circumstances and irrespective of
any setoff, counterclaim or defense to payment which the Company may have or
have had against the applicable Issuer, any Bank or any beneficiary of a Letter
of Credit.  The Company further agrees with each Issuer and the Banks
that no Issuer or Bank shall be responsible for, and the Company’s Reimbursement
Obligation in respect of any Letter of Credit shall not be affected by, among
other things, the validity or genuineness of documents or of any endorsements
thereon, even if such documents should in fact prove to be in any or all
respects invalid, fraudulent or forged, or any dispute between or among the
Company, any of its Affiliates, the beneficiary of any Letter of Credit or any
financing institution or other party to whom any Letter of Credit may be
transferred or any claims or defenses whatsoever of the Company or of any of its
Affiliates against the beneficiary of any Letter of Credit or any such
transferee.  No Issuer shall be liable for any error, omission,
interruption or delay in transmission, dispatch or delivery of any message or
advice, however transmitted, in connection with any Letter of
Credit.  The Company agrees that any action taken or omitted by the
applicable Issuer or any Bank under or in connection with any Letter of Credit
and the related drafts and documents, if done without gross negligence or
willful misconduct, shall be binding upon the Company and shall not put such
Issuer or any Bank under any liability to the Company.  Nothing in
this Section
2.16(g) is intended to limit the right of the Company to make a claim
against the applicable Issuer for damages as contemplated by the proviso to the
first sentence of Section
2.16(f).

    (h)  Actions of
Issuer.  Each Issuer shall be entitled to rely, and shall be
fully protected in relying, upon any Letter of Credit, draft, writing,
resolution, notice, consent, certificate, affidavit, letter, cablegram,
telegram, facsimile, telex or teletype message, statement, order or other
document believed by it to be genuine and correct and to have been signed, sent
or made by the proper Person or Persons, and upon advice and statements of legal
counsel, independent accountants and other experts selected by such
Issuer.  Each Issuer shall be fully justified in failing or refusing
to take any action under this Agreement unless it shall first have received such
advice or concurrence of the Majority Banks as it reasonably deems appropriate
or it shall first be indemnified to its reasonable satisfaction by the Banks
against any and all liability and expense which may be incurred by it by reason
of taking or continuing to take any such action. Notwithstanding any other
provision of this Section 2.16, each
Issuer shall in all cases be fully protected in acting, or in refraining from
acting, under this Agreement in accordance with a request of the Majority Banks,
and such request and any action taken or failure to act pursuant thereto shall
be binding upon the Banks and any future holder of a participation in any
applicable Letter of Credit.

    (i)  Indemnification.  The
Company agrees to indemnify and hold harmless each Bank, the applicable Issuer
and the Administrative Agent, and their respective directors, officers, agents
and employees, from and against any and all claims and damages, losses,
liabilities, costs or expenses which such Bank, such Issuer or the
Administrative Agent may incur (or which may be claimed against such Bank, such
Issuer or the Administrative Agent by any Person whatsoever) by reason of or in
connection with the issuance, execution and delivery or transfer of or payment
or failure to pay under any Letter of Credit or any actual or proposed use of
any Letter of Credit, including any claims, damages, losses, liabilities, costs
or expenses which such Issuer may incur by reason of or in connection with (i)
the failure of any other Bank to fulfill or comply with its obligations to such
Issuer hereunder (but nothing herein contained shall affect any right the
Company may have against any defaulting Bank) or (ii) by reason of or on account
of such Issuer issuing any Letter of Credit which specifies that the term
“Beneficiary” therein includes any successor by operation of law of the named
Beneficiary, but which Letter of Credit does not require that any drawing by any
such successor Beneficiary be accompanied by a copy of a legal document,
satisfactory to such Issuer, evidencing the appointment of such successor
Beneficiary; provided that the
Company shall not be required to indemnify any Bank, the applicable Issuer or
the Administrative Agent for any claims, damages, losses, liabilities, costs or
expenses to the extent, but only to the extent, caused by (x) the willful
misconduct or gross negligence of such Issuer in determining whether a request
presented under any Letter of Credit issued by such Issuer complied with the
terms of such Letter of Credit or (y) such Issuer’s failure to pay under any
Letter of Credit after the presentation to it of a request strictly complying
with the terms and conditions of such Letter of Credit.  Nothing in
this Section
2.16(i) is intended to limit the obligations of the Company under any
other provision of this Agreement.

    (j)  Banks’
Indemnification.  Each Bank shall, ratably in accordance with
its Pro Rata Share, indemnify each applicable Issuer and its affiliates and
their respective directors, officers, agents and employees (to the extent not
reimbursed by the Company) against any cost, expense (including reasonable
counsel fees and charges), claim, demand, action, loss or liability (except such
as result from such indemnitees’ gross negligence or willful misconduct or such
Issuer’s failure to pay under any Letter of Credit after the presentation to it
of a request strictly complying with the terms and conditions of such Letter of
Credit) that such indemnitees may suffer or incur in connection with this Section 2.16 or any
action taken or omitted by such indemnitees hereunder.

    (k)  LC Collateral
Account.  The Company agrees that it will establish on the
Termination Date (or on such earlier date as may be required pursuant to Section 8.02), and
thereafter maintain so long as any Letter of Credit is outstanding or any amount
is payable to any Issuer or the Banks in respect of any Letter of Credit, a
special collateral account pursuant to arrangements satisfactory to the
Administrative Agent (the “LC Collateral
Account”) at the Administrative Agent’s office at the address specified
pursuant to Section
10.02, in the name of the Company but under the sole dominion and control
of the Administrative Agent, for the benefit of the Banks, and in which the
Company shall have no interest other than as set forth in Section
8.02.  The Company hereby pledges, assigns and grants to the
Administrative Agent, on behalf of and for the ratable benefit of the Banks and
the Issuers, a security interest in all of the Company’s right, title and
interest in and to all funds which may from time to time be on deposit in the LC
Collateral Account, to secure the prompt and complete payment and performance of
the Obligations.  The Administrative Agent will invest any funds on
deposit from time to time in the LC Collateral Account in certificates of
deposit of U.S. Bank having a maturity not exceeding 30 days.  If
funds are deposited in the LC Collateral Account pursuant to this Section 2.16(k) and
the provisions of Section 8.02 are not
applicable, then the Administrative Agent shall release from the LC Collateral
Account to the Company, upon the expiration or termination of, or any reduction
in the amount available under, any Letter of Credit, an amount equal to the
excess (if any) of all funds in the LC Collateral Account over the Letter of
Credit Obligations.

    (l)  Rights as a
Bank.  In its capacity as a Bank, each Issuer shall have the
same rights and obligations as any other Bank.

    ARTICLE
III          

     

    YIELD PROTECTION;
TAXES

     

    3.01  Yield
Protection.  If, on or after the date of this Agreement,
the adoption of any law or any governmental or quasi-governmental rule,
regulation, policy, guideline or directive (whether or not having the force of
law), or any change in the interpretation or administration thereof by any
governmental or quasi-governmental authority, central bank or comparable agency
charged with the interpretation or administration thereof, or compliance by any
Bank, any applicable Lending Installation or any Issuer with any request or
directive (whether or not having the force of law) of any such authority,
central bank or comparable agency:

    (a)  subjects
any Bank, any applicable Lending Installation or any Issuer to any Taxes, or
changes the basis of taxation of payments (other than with respect to Excluded
Taxes) to any Bank in respect of its Eurodollar Loans or Letters of Credit or
participations therein, or

    (b)  imposes
or increases or deems applicable any reserve, assessment, insurance charge,
special deposit or similar requirement against assets of, deposits with or for
the account of, or credit extended by, any Bank, any applicable Lending
Installation or any Issuer (other than reserves and assessments taken into
account in determining the interest rate applicable to Eurodollar Advances),
or

    (c)  imposes
any other condition the result of which is to increase the cost to any Bank, any
applicable Lending Installation or any Issuer of making, funding or maintaining
its Eurodollar Loans or of issuing or participating in Letters of Credit or
reduces any amount receivable by any Bank or any applicable Lending Installation
in connection with Letters of Credit or Eurodollar Loans, or requires any Bank,
any applicable Lending Installation or any Issuer to make any payment calculated
by reference to the amount of Letters of Credit or Eurodollar Loans held or
interest received by it, by an amount deemed material by such Bank or such
Issuer, as the case may be,

    and the
result of any of the foregoing is to increase the cost to such Bank, the
applicable Lending Installation or any Issuer of making or maintaining its
Eurodollar Loans, Letters of Credit or Commitment or to reduce the return
received by such Bank, the applicable Lending Installation or such Issuer in
connection with such Eurodollar Loans, Letters of Credit or Commitment, then,
within 15 days of demand by such Bank or such Issuer, the Company shall pay such
Bank or such Issuer such additional amount or amounts as will compensate such
Bank or such Issuer for such increased cost or reduction in amount
received.

     

    3.02  Changes in Capital Adequacy
Regulations.  If any Bank or any Issuer determines the
amount of capital required or expected to be maintained by such Bank, any
Lending Installation of such Bank, such Issuer or any corporation controlling
such Bank or such Issuer is increased as a result of a Change, then, within 15
days of demand by such Bank or such Issuer, the Company shall pay such Bank or
such Issuer the amount necessary to compensate for any shortfall in the rate of
return on the portion of such increased capital which such Bank or such Issuer
determines is attributable to this Agreement, its Loans, its Letters of Credit
(or participations therein) or its Commitment to make Loans or to issue or
participate in Letters of Credit hereunder (after taking into account such
Bank’s policies as to capital adequacy).  “Change” means (a) any
change after the date of this Agreement in the Risk-Based Capital Guidelines or
(b) any adoption of or change in any other law, governmental or
quasi-governmental rule, regulation, policy, guideline, interpretation, or
directive (whether or not having the force of law) after the date of this
Agreement which affects the amount of capital required or expected to be
maintained by any Bank, any Lending Installation, any Issuer or any corporation
controlling any Bank or any Issuer.  “Risk-Based Capital Guidelines”
means (a) the risk-based capital guidelines in effect in the United States on
the date of this Agreement, including transition rules, and (b) the
corresponding capital regulations promulgated by regulatory authorities outside
the United States implementing the July 1988 report of the Basle Committee on
Banking Regulation and Supervisory Practices Entitled “International Convergence
of Capital Measurements and Capital Standards,” including transition rules, and
any amendments to such regulations adopted prior to the date of this
Agreement.

     

    3.03  Availability of Types of
Advances.  If (a) any Bank determines that maintenance
of its Eurodollar Loans at a suitable Lending Installation would violate any
applicable law, rule, regulation, or directive, whether or not having the force
of law, or (b) if the Majority Banks determine that (i) deposits of a type and
maturity appropriate to match fund Eurodollar Advances are not available or (ii)
the interest rate applicable to Eurodollar Advances does not accurately reflect
the cost of making or maintaining Eurodollar Advances, then the Administrative
Agent shall suspend the availability of Eurodollar Advances and, in the case of
clause (a)
only, require any affected Eurodollar Advances to be repaid or converted to
Floating Rate Advances, subject to the payment of any funding indemnification
amounts required by Section
3.04.

     

    3.04  Funding
Indemnification.  If any payment of a Eurodollar Advance
occurs on a date which is not the last day of the applicable Interest Period,
whether because of acceleration, prepayment or otherwise, or a Eurodollar
Advance is not made on the date specified by the Company for any reason other
than default by the Banks, the Company will indemnify each Bank for any loss or
cost incurred by it resulting therefrom, including, without limitation, any loss
or cost in liquidating or employing deposits acquired to fund or maintain such
Eurodollar Advance.

     

    3.05  Taxes.  (a) All
payments by the Company to or for the account of any Bank, any Issuer or the
Administrative Agent hereunder or under any Note shall be made free and clear of
and without deduction for any and all Taxes.  If the Company shall be
required by law to deduct any Taxes from or in respect of any sum payable
hereunder to any Bank, any Issuer or the Administrative Agent, (i) the sum
payable shall be increased as necessary so that after making all required
deductions (including deductions applicable to additional sums payable under
this Section
3.05) such Bank, such Issuer or the Administrative Agent (as the case may
be) receives an amount equal to the sum it would have received had no such
deductions been made, (ii) the Company shall make such deductions, (iii) the
Company shall pay the full amount deducted to the relevant authority in
accordance with applicable law and (iv) the Company shall furnish to the
Administrative Agent the original copy of a receipt evidencing payment thereof
within 30 days after such payment is made.

    (b)  In
addition, the Company hereby agrees to pay any present or future stamp or
documentary taxes and any other excise or property taxes, charges or similar
levies which arise from any payment made hereunder, under any Note or under any
Letter of Credit Application or from the execution or delivery of, or otherwise
with respect to, this Agreement, any Note or any Letter of Credit Application
(“Other
Taxes”).

    (c)  The
Company hereby agrees to indemnify the Administrative Agent, each Bank and each
Issuer for the full amount of Taxes or Other Taxes (including, without
limitation, any Taxes or Other Taxes imposed on amounts payable under this Section 3.05) paid by
the Administrative Agent, such Bank or such Issuer and any liability (including
penalties, interest and expenses) arising therefrom or with respect
thereto.  Payments due under this indemnification shall be made within
30 days of the date the Administrative Agent, such Bank or such Issuer makes
demand therefor pursuant to Section
3.06.

    (d)  Each Bank
that is not incorporated under the laws of the United States or a state thereof
(each a “Non-U.S.
Bank”) agrees that it will, not more than ten Business Days after the
date of this Agreement, (i) deliver to each of the Company and the
Administrative Agent two duly completed copies of IRS Form W-8BEN or W-8ECI,
certifying in either case that such Bank is entitled to receive payments under
this Agreement without deduction or withholding of any United States federal
income taxes, and (ii) deliver to each of the Company and the Administrative
Agent an IRS Form W-8ECI or W-9, as the case may be, and certify that it is
entitled to an exemption from United States backup withholding
tax.  Each Non-U.S. Bank further undertakes to deliver to each of the
Company and the Administrative Agent (x) renewals or additional copies of each
such form (or any successor form) on or before the date that such form expires
or becomes obsolete, and (y) after the occurrence of any event requiring a
change in the most recent forms so delivered by it, such additional forms or
amendments thereto as may be reasonably requested by the Company or the
Administrative Agent.  All forms or amendments described in the
preceding sentence shall certify that such Bank is entitled to receive payments
under this Agreement without deduction or withholding of any United States
Federal income taxes, unless an event (including without limitation any change
in treaty, law or regulation) has occurred prior to the date on which any such
delivery would otherwise be required which renders all such forms inapplicable
or which would prevent such Bank from duly completing and delivering any such
form or amendment with respect to it and such Bank advises the Company and the
Administrative Agent that it is not capable of receiving payments without any
deduction or withholding of United States Federal income tax.

    (e)  For any
period during which a Non-U.S. Bank has failed to provide the Company with an
appropriate form pursuant to clause (d) above
(unless such failure is due to a change in treaty, law or regulation, or any
change in the interpretation or administration thereof by any governmental
authority, occurring subsequent to the date on which a form originally was
required to be provided), such Non-U.S. Bank shall not be entitled to
indemnification under this Section 3.05 with
respect to Taxes imposed by the United States; provided that, should
a Non-U.S. Bank which is otherwise exempt from or subject to a reduced rate of
withholding tax become subject to Taxes because of its failure to deliver a form
required under clause
(d) above, the Company shall take such steps as such Non-U.S. Bank shall
reasonably request to assist such Non-U.S. Bank to recover such
Taxes.

    (f)  Any Bank
that is entitled to an exemption from or reduction of withholding tax with
respect to payments under this Agreement or any Note pursuant to the law of any
relevant jurisdiction or any treaty shall deliver to the Company (with a copy to
the Administrative Agent), at the time or times prescribed by applicable law,
such properly completed and executed documentation prescribed by applicable law
as will permit such payments to be made without withholding or at a reduced
rate.

    (g)  If the
IRS or any other governmental authority of the United States or any other
country or any political subdivision thereof asserts a claim that the
Administrative Agent did not properly withhold tax from amounts paid to or for
the account of any Bank (because the appropriate form was not delivered or
properly completed, because such Bank failed to notify the Administrative Agent
of a change in circumstances which rendered its exemption from withholding
ineffective, or for any other reason), such Bank shall indemnify the
Administrative Agent fully for all amounts paid, directly or indirectly, by the
Administrative Agent as tax, withholding therefor, or otherwise, including
penalties and interest, and including taxes imposed by any jurisdiction on
amounts payable to the Administrative Agent under this Section, together with
all costs and expenses related thereto (including attorneys fees and time
charges of attorneys for the Administrative Agent, which attorneys may be
employees of the Administrative Agent).  The obligations of the Banks
under this Section
3.05(g) shall survive the payment of the Obligations and termination of
this Agreement.

     

    3.06  Bank Statements; Survival of
Indemnity.  To the extent reasonably possible, each Bank
shall designate an alternate Lending Installation with respect to its Eurodollar
Loans to reduce any liability of the Company to such Bank under Sections 3.01, 3.02 and 3.05 or to avoid the
unavailability of Eurodollar Advances under Section 3.03, so long
as such designation is not, in the judgment of such Bank, disadvantageous to
such Bank.  Each Bank or each Issuer, as applicable, shall deliver a
written statement of such Bank or such Issuer to the Company (with a copy to the
Administrative Agent) as to the amount due, if any, under Section 3.01, 3.02, 3.04 or 3.05.  Such
written statement shall set forth in reasonable detail the calculations upon
which such Bank or such Issuer determined such amount and shall be final,
conclusive and binding on the Company in the absence of manifest
error.  Determination of amounts payable under such Sections in
connection with a Eurodollar Loan shall be calculated as though each Bank funded
its Eurodollar Loan through the purchase of a deposit of the type and maturity
corresponding to the deposit used as a reference in determining the Eurodollar
Rate applicable to such Loan, whether in fact that is the case or
not.  Unless otherwise provided herein, the amount specified in the
written statement of any Bank or any Issuer shall be payable on demand after
receipt by the Company of such written statement.  The obligations of
the Company under Sections 3.01, 3.02, 3.04 and 3.05 shall survive
payment of the Obligations and termination of this Agreement.

     

                   
ARTICLE
IV                

     

    CONDITIONS
PRECEDENT

     

    4.01  Initial Credit
Extension.  The obligation of the Banks and the Issuers
to make the initial Credit Extension is subject to the following conditions
precedent (unless all of the Banks, in their sole and absolute discretion, shall
agree otherwise):

    (a)  The
Administrative Agent shall have received all of the following, each of which
shall be originals unless otherwise specified, each properly executed by a
Responsible Officer, each dated as of the date of this Agreement and each in
form and substance satisfactory to the Administrative Agent and the Banks
(unless otherwise specified or, in the case of the date of any of the following,
unless the Administrative Agent otherwise agrees or directs):

    (1)  at least
one executed counterpart of this Agreement, together with arrangements
satisfactory to Administrative Agent for additional executed counterparts,
sufficient in number for distribution to the Banks and the Company;

    (2)  a Note
executed by the Company in favor of each Bank requesting a Note;

    (3)  copies of
the resolutions of the Board of Directors or the executive committee of the
Company approving and authorizing the execution, delivery and performance by the
Company of the Loan Documents to which it is a party, certified as of the date
of this Agreement by the Secretary or an Assistant Secretary of the
Company;

    (4)  a
certificate of the Secretary or Assistant Secretary of the Company, certifying
the names, titles and true signatures of the Responsible Officers and any other
officers of the Company authorized to execute and deliver the Loan Documents to
which it is a party, upon which certificate the Administrative Agent, the
Issuers and the Banks shall be entitled to rely until informed of any change in
writing by the Company;

    (5)  copies of
the articles or certificate of incorporation of the Company as in effect on the
date of this Agreement and the bylaws of the Company as in effect on the date of
this Agreement, certified by the Secretary or Assistant Secretary of the Company
as of the date of this Agreement;

    (6)  a good
standing certificate for the Company from the Secretary of State of the State of
Delaware;

    (7)  the
Opinions of Counsel;

    (8)  a
certificate signed by a Responsible Officer certifying that the conditions
specified in Sections
4.01(c), 4.01(d) and 4.01(f) have been
satisfied;

    (9)  written
money transfer instructions, in substantially the form of Exhibit D, addressed
to the Administrative Agent and signed by a Responsible Officer, together with
such other related money transfer authorizations as the Administrative Agent may
have reasonably requested;

    (10)  if the
initial Credit Extension will be the issuance of a Letter of Credit, a properly
completed Letter of Credit Application; and

    (11)  such
other assurances, certificates, documents, consents or opinions as the
Administrative Agent reasonably may require.

    (b)  Attorney
Costs of U.S. Bank to the extent invoiced prior to or on the Execution Date,
plus such additional amounts of Attorney Costs as shall constitute U.S. Bank’s
reasonable estimate of Attorney Costs incurred or to be incurred by it through
the closing proceedings (provided that such estimate shall not thereafter
preclude final settling of accounts between the Company and U.S. Bank) shall
have been paid.

    (c)  The
representations and warranties of the Company contained in Article V shall be
true and correct in all material respects.

    (d)  The
Company shall be in compliance with all the terms and provisions of the Loan
Documents, and, after giving effect to the initial Advance, no Default or Event
of Default shall exist.

    (e)  The
Company shall have paid to the Administrative Agent for the account of the Banks
such upfront fees as have been agreed to by the Company, the Administrative
Agent and the Co-Lead Arrangers pursuant to the Fee Letter.

    (f)  There
shall have occurred since December 31, 2006 no event or circumstance that has
resulted or could reasonably be expected to result in a Material Adverse
Effect.

     

    4.02  Each Credit
Extension.  The obligation of the Banks and the Issuers
to make any Credit Extension (including the initial Credit Extension) is subject
to the following conditions precedent:

    (a)  the
representations and warranties of the Company contained in Article V (except (i)
in the case of a conversion or continuation pursuant to Section 2.02(d), the
representations set forth in Sections 5.05, 5.11(b) and 5.12 and in the
second and third sentences of Section 5.14 and (ii)
in the case of a Loan the proceeds of which will be used to pay maturing
commercial paper of the Company, the representations set forth in Sections 5.05(b) and
5.11(b)) are
true and correct in all material respects as though made on and as of the date
of such Credit Extension (except to the extent such representations and
warranties expressly refer to an earlier date, in which case they are true and
correct as of such earlier date);

    (b)  no
Default or Event of Default exists or would result from such Credit Extension;
and

    (c)  the
Administrative Agent shall have received, in form and substance satisfactory to
the Administrative Agent, such other assurances, certificates, documents or
consents related to the foregoing as the Administrative Agent or Majority Banks
reasonably may require.

    On the
date of each Credit Extension, the Company shall be deemed to have represented
and warranted that the representations and warranties contained in Article V (except (x)
in the case of a conversion or continuation pursuant to Section 2.02(d), the
representations set forth in Sections 5.05, 5.11(b) and 5.12 and in the
second and third sentences of Section 5.14 and (y)
in the case of a Loan the proceeds of which will be used to pay maturing
commercial paper of the Company, the representations set forth in Sections 5.05(b) and
5.11(b)) are
true and correct in all material respects as though made on and as of the date
of such Credit Extension (except to the extent such representations and
warranties expressly refer to an earlier date, in which case they are true and
correct as of such earlier date).

     

    ARTICLE V

     

    REPRESENTATIONS AND
WARRANTIES

     

    The
Company represents and warrants to the Administrative Agent, each Issuer and
each Bank that:

     

    5.01  Existence and Power;
Standing; Compliance With Laws.  The Company and each of
its Subsidiaries: (a) is duly organized, validly existing and in good standing
under the laws of the jurisdiction of its organization; (b) has the power and
authority and all governmental licenses, authorizations, consents and approvals
to (i) own its assets and carry on its business and (ii) with respect to the
Company, to execute, deliver, and perform its obligations under the Loan
Documents; (c) is duly qualified as a foreign corporation and is licensed and in
good standing under the laws of each jurisdiction where its ownership, lease or
operation of property or the conduct of its business requires such qualification
or license; and (d) is in compliance with all Requirements of Law; except, in
each case referred to in clauses(a) (other than with
respect to the Company), (b)(i), (c)  and
(d), to the
extent that the failure to do so could not reasonably be expected to have a
Material Adverse Effect.

     

    5.02  Corporate Authorization; No
Contravention or Conflict.  The execution, delivery and
performance by the Company of this Agreement and each other Loan Document to
which the Company is a party, have been duly authorized by all necessary
corporate action, and do not and will not: (a) contravene the terms of any of
the Company’s Organization Documents; (b) conflict with or result in any breach
or contravention of, or the creation of any Lien under, any document evidencing
any Contractual Obligation to which the Company is a party or any order,
injunction, writ or decree of any Governmental Authority to which the Company or
its property is subject; or (c) violate any Requirement of Law.

     

    5.03  Governmental
Authorization.  No approval, consent, exemption,
authorization, or other action by, or notice to, or filing with, any
Governmental Authority is necessary or required in connection with the
execution, delivery or performance by, or enforcement against, the Company of
the Agreement or any other Loan Document.

     

    5.04  Validity and Binding
Effect.  This Agreement and each other Loan Document to
which the Company is a party constitute the legal, valid and binding obligations
of the Company, enforceable against the Company in accordance with their
respective terms, except as enforceability may be limited by applicable
bankruptcy, insolvency, or similar laws affecting the enforcement of creditors’
rights generally or by equitable principles relating to
enforceability.

     

    5.05  Litigation; Environmental
Claims.  Except as set forth in the Company’s financial
statements dated September 30, 2007, there are, as of the Execution Date, no
actions, suits, proceedings, claims (including Environmental Claims) or disputes
pending, or, to the knowledge of the Company, threatened, at law, in equity, in
arbitration or by or before any Governmental Authority, against the Company, or
its Subsidiaries or any of their respective properties which: (a) purport to
affect or pertain to this Agreement or any other Loan Document, or any of the
transactions contemplated hereby or thereby; or (b) if determined adversely to
the Company or its Subsidiaries, would reasonably be expected to have a Material
Adverse Effect.  No injunction, writ, temporary restraining order or
any order of any nature has been issued by any court or other Governmental
Authority purporting to enjoin or restrain the execution, delivery or
performance of this Agreement or any other Loan Document, or directing that the
transactions provided for herein or therein not be consummated as herein or
therein provided.

     

    5.06  No
Default.  No Default or Event of Default exists or would
result from the incurring of any Obligations by the Company. As of the Execution
Date, neither the Company nor any Subsidiary is in default under or with respect
to any Contractual Obligation in any respect which, individually or together
with all such defaults, could reasonably be expected to have a Material Adverse
Effect, or that would, if such default had occurred after the Execution Date,
create an Event of Default under Section
8.01(e).

     

    5.07  ERISA
Compliance.

    (a)  Each Plan
is in compliance in all material respects with ERISA, the Code and other
applicable federal or state law.  Each Plan which is intended to
qualify under Section 401(a) of the Code has received a favorable determination
letter from the IRS and, to the best knowledge of the Company, nothing has
occurred which would or could reasonably be expected to cause the loss of such
qualification of any such Plan or related trust.

    (b)  There are
no pending or, to the best knowledge of the Company, threatened claims (other
than routine claims for benefits in the ordinary course), actions or lawsuits,
or action by any Governmental Authority, with respect to any Plan which has
resulted or could reasonably be expected to result in a Material Adverse
Effect.  To the best knowledge of the Company, there has been no
prohibited transaction within the meaning of Section 4975 of the Code or Section
406 of ERISA or other material violation of the fiduciary responsibility rules
with respect to any Plan which has resulted or could reasonably be expected to
result in a Material Adverse Effect.

    (c)  No
Reportable Event has occurred or is reasonably expected to occur with respect to
any Pension Plan or Multiemployer Plan.

    (d)  The
aggregate Unfunded Pension Liability for all Pension Plans (calculated based on
the most recent actuarial report for each Pension Plan) does not exceed
$15,000,000.

    (e)  Neither
the Company nor any ERISA Affiliate has incurred nor does it reasonably expect
to incur, any liability under Title IV of ERISA with respect to any Pension Plan
(other than premiums due and not delinquent under Section 4007 of
ERISA).

    (f)  Neither
the Company nor any ERISA Affiliate has transferred any Unfunded Pension
Liability to any Person or otherwise engaged in a transaction that could be
subject to Section 4069 of ERISA.

    (g)  Neither
the Company nor any ERISA Affiliate has incurred nor reasonably expects to
incur, any liability (and no event has occurred which, with the giving of notice
under Section 4219 of ERISA, would result in such liability) under Section 4201
or 4243 of ERISA with respect to a Multiemployer Plan.

     

    5.08  Use of Proceeds; Margin
Regulations.  The proceeds of the Loans are to be used
solely for the purposes set forth in and permitted by Section 6.11 and
Section
7.06.  Neither the Company nor any Subsidiary is generally
engaged in the business of purchasing or selling Margin Stock or extending
credit for the purpose of purchasing or carrying Margin Stock.  Margin
Stock constitutes less than 25% of the value of those assets of the Company and
its Subsidiaries which are subject to any limitation on sale, pledge or other
restriction hereunder.

     

    5.09  Title to
Properties.  To the Company’s knowledge, without having
undertaken any search of real property records for this purpose, the Company and
each Subsidiary have good and sufficient title to, or valid leasehold interests
in, all real property necessary or used in the ordinary conduct of their
respective businesses, and good title to all other property and assets reflected
in the Company’s most recent consolidated financial statements provided to the
Banks as owned by the Company and its Subsidiaries, except for such defects in
title as could not, individually or in the aggregate, reasonably be expected to
have a Material Adverse Effect.  As of the Execution Date, the
property of the Company and its Subsidiaries is subject to no Liens, other than
Permitted Liens.

     

    5.10  Taxes.  The
Company and its Subsidiaries have filed all federal and other tax returns and
reports required to be filed, and have paid all federal and other taxes,
assessments, fees and other governmental charges levied or imposed upon them or
their properties, income or assets otherwise due and payable, except those which
are being contested in good faith by appropriate proceedings and for which
adequate reserves have been provided in accordance with GAAP and except those
the failure to file or pay which would not have a Material Adverse Effect. There
is no proposed tax assessment against the Company or any Subsidiary that would,
if made, have a Material Adverse Effect.

     

    5.11  Financial
Condition.  (a)  The audited consolidated and
consolidating financial statements of the Company and its Subsidiaries dated
December 31, 2006 and the unaudited consolidated and consolidating financial
statements of the Company and its Subsidiaries dated September 30, 2007, and the
related consolidated and consolidating statements of income or operations,
shareholders’ equity and cash flows for the fiscal periods ended on such
dates:

    (i)  were
prepared in accordance with GAAP consistently applied throughout the periods
covered thereby, except as otherwise expressly noted therein (and subject, in
the case of unaudited statements, to the absence of footnotes and to normal
year-end adjustments);

    (ii)  fairly
present the financial condition of the Company and its Subsidiaries as of the
dates thereof and results of operations for the periods covered thereby;
and

    (iii)  show all
material indebtedness and other liabilities, direct or contingent, of the
Company and its Subsidiaries as of the dates thereof, including liabilities for
taxes, material commitments and Contingent Obligations.

    (b)  Since
December 31, 2006, there has been no Material Adverse Effect.

     

    5.12  Environmental
Matters.  The Company conducts in the ordinary course of
business a review of the effect of existing Environmental Laws and existing
Environmental Claims on its business, operations and properties, and as a result
thereof the Company has reasonably concluded that such Environmental Laws and
Environmental Claims could not, individually or in the aggregate, reasonably be
expected to have a Material Adverse Effect.

     

    5.13  Regulated
Entities.  None of the Company, any Person controlling
the Company, or any Subsidiary, is required to register as an “Investment
Company” within the meaning of the Investment Company Act of
1940.  The Company is not subject to regulation under the Federal
Power Act, the Interstate Commerce Act, any state public utilities code, or any
other Federal or state statute or regulation limiting its ability to incur
Indebtedness.

     

    5.14  Copyrights, Patents,
Trademarks and Licenses, etc.  The Company or its
Subsidiaries own or are licensed or otherwise have the right to use all of the
patents, trademarks, service marks, trade names, copyrights, contractual
franchises, authorizations and other rights that are reasonably necessary for
the operation of their respective businesses, without conflict with the rights
of any other Person, except to the extent that noncompliance would not have a
Material Adverse Effect.  To the knowledge of the Company, no slogan
or other advertising device, product, process, method, substance, part or other
material now employed, or now contemplated to be employed, by the Company or any
Subsidiary infringes upon any rights held by any other Person, except to the
extent that noncompliance would not have a Material Adverse
Effect.  No claim or litigation regarding any of the foregoing is
pending or threatened, and no patent, invention, device, application, principle
or any statute, law, rule, regulation, standard or code is pending or, to the
knowledge of the Company, proposed, which, in either case, could reasonably be
expected to have a Material Adverse Effect.

     

    5.15  Subsidiaries.  As
of the Execution Date, the Company has no Subsidiaries other than those
specifically disclosed in part (a) of Schedule 5.15 and has
no equity investments in any other corporation or entity other than those
specifically disclosed in part (b) of Schedule 5.15.

     

    5.16  Insurance.  The
properties of the Company and its Subsidiaries are insured with financially
sound and reputable insurance companies not Affiliates of the Company, in such
amounts, with such deductibles and covering such risks as are customarily
carried by companies engaged in similar businesses and owning similar properties
in localities where the Company or such Subsidiary operates, except to the
extent that noncompliance would not have a Material Adverse Effect.

     

    5.17  Solvency.  The
Company is Solvent, and the Company and its Subsidiaries, taken as a
whole,  are Solvent.

     

    5.18  Full
Disclosure.  None of the representations or warranties
made by the Company or any Subsidiary in the Loan Documents as of the date such
representations and warranties are made or deemed made, and none of the
statements contained in any exhibit, report, statement or certificate furnished
by or on behalf of the Company or any Subsidiary in connection with the Loan
Documents contains any untrue statement of a material fact or omits any material
fact required to be stated therein or necessary to make the statements made
therein, in light of the circumstances under which they are made, not misleading
as of the time when made or delivered.  It is understood that any
financial projections contained in any of the aforementioned materials represent
projections based on various assumptions that the Company believes in good faith
are reasonable in light of the circumstances and that any such projection of
future results of operations may or may not occur and no assurance can be given
that any such projected results will be achieved.

     

    5.19  Senior
Debt.  The Obligations shall be at least pari passu with
all other senior unsecured debt of the Company.

    ARTICLE VI

     

    AFFIRMATIVE
COVENANTS

     

    So long
as any Bank has any Commitment hereunder, any Letter of Credit remains
outstanding or any Loan or other Obligation remains unpaid or unsatisfied,
unless the Majority Banks waive compliance in writing:

     

    6.01  Financial
Statements.  The Company shall deliver to the
Administrative Agent, in form and detail satisfactory to the Administrative
Agent and the Majority Banks, with sufficient copies for each Bank (to be
promptly forwarded by the Administrative Agent to each of the Banks upon receipt
thereof):

    (a)  as soon
as available, but in no event later than 120 days after the end of each fiscal
year (commencing with the fiscal year ending December 31, 2007), copies of the
audited consolidated balance sheet of the Company and its Subsidiaries as at the
end of such year and the related consolidated statements of income of
operations, shareholders’ equity and cash flows for such year, together with
exhibits thereto containing the consolidating balance sheet of the Company and
its Subsidiaries as at the end of such year and the related consolidating
statements of income of operations, shareholders’ equity and cash flows for such
year, setting forth in each case in comparative form the figures for the
previous fiscal year, and accompanied by the opinion of a nationally-recognized
independent public accounting firm (“Independent
Auditor”), which opinion shall (i) state that such financial statements
present fairly the financial position and results of operations of the Company
and its Subsidiaries at the time and for the periods indicated in conformity
with GAAP applied on a basis consistent with prior years, (ii) not be qualified
or limited because of a restricted or limited examination by the Independent
Auditor of any material portion of the Company’s or any Subsidiary’s records and
(iii) be delivered to the Administrative Agent together with a letter from the
Independent Auditor stating that nothing has come to the attention of the
Independent Auditor in connection with the audit that would cause the
Independent Auditor to believe that the Company was not in compliance with the
terms, covenants, provisions or conditions of Section 7.10 or 7.11;
and

    (b)  as soon
as available, but not later than 60 days after the end of each of the first
three fiscal quarters of each fiscal year (commencing with the fiscal quarter
ending March 31, 2008), a copy of the unaudited consolidated and consolidating
balance sheet of the Company and its Subsidiaries as of the end of such quarter
and the related consolidated and consolidating statements of income,
shareholders’ equity and cash flows for the period commencing on the first day
and ending on the last day of such quarter, certified by a Responsible Officer
as fairly presenting, in accordance with GAAP (subject to ordinary, good faith
year-end audit adjustments), the financial position and the results of
operations of the Company and its Subsidiaries at the time and for the periods
indicated.

     

    6.02  Certificates; Other
Information.  The Company shall furnish to the
Administrative Agent, with sufficient copies for each Bank:

    (a)  concurrently
with the delivery of the financial statements referred to in Sections 6.01(a) and
(b), a
Compliance Certificate executed by a Responsible Officer;

    (b)  promptly,
copies of all financial statements and reports that MDU Resources Group, Inc.
sends to its shareholders, and copies of all financial statements and regular,
periodical or special reports (including Forms 10-K, 10-Q and 8-K) that MDU
Resources Group, Inc. may make to, or file with, the SEC; and

    (c)  promptly,
such additional information regarding the business, financial or corporate
affairs of the Company or any Subsidiary as the Administrative Agent, at the
request of any Bank, may from time to time reasonably request.

     

    6.03  Notices.  The
Company shall promptly notify the Administrative Agent and each Bank: (a) of the
occurrence of any Default or Event of Default, and of the occurrence or
existence of any event or circumstance known to the Company that will become a
Default or Event of Default; (b) of any matter that has resulted or would
reasonably be expected to result in a Material Adverse Effect, including (i) any
breach or non-performance of, or any default under, a Contractual Obligation of
the Company or any of its Subsidiaries; (ii) any dispute, litigation,
investigation, proceeding or suspension between the Company or any of its
Subsidiaries and any Governmental Authority; or (iii) the commencement of, or
any material development in, any litigation or proceeding affecting the Company
or any Subsidiary, including pursuant to any applicable Environmental Laws; (c)
of any of the following events affecting the Company, together with a copy of
any notice with respect to such event that may be required to be filed with a
Governmental Authority and any notice delivered by a Governmental Authority to
the Company with respect to such event: (i) an ERISA Event (other than an event
described in clause (c) of the definition of “ERISA Event” which has not
resulted and would not reasonably be expected to result in a Material Adverse
Effect); (ii) the adoption of any Plan subject to Section 412 of the Code; or
(iii) the adoption of any amendment to a Pension Plan or other Plan subject to
Section 412 of the Code, if such amendment results in a material increase in
contributions or Unfunded Pension Liability; (d) of any material change in
accounting policies or financial reporting practices by the Company or any of
its Subsidiaries; (e) of any announcement by any rating agency of any change in
any component of the Pricing Rating; (f) of any loan or advance made by the
Company to Centennial International; and (g) upon the request from time to time
of the Administrative Agent, of the Swap Termination Values, together with a
description of the method by which such amounts were determined, relating to any
then-outstanding Swap Contracts to which the Company or any of its Subsidiaries
is party.

    Each
notice under this Section shall be accompanied by a written statement by a
Responsible Officer setting forth details of the occurrence referred to therein,
and stating what action the Company or any affected Subsidiary proposes to take
with respect thereto and at what time.  Each notice under Section 6.03(a) shall
describe with particularity any and all clauses or provisions of this Agreement
or other Loan Document that the Company believes have been or will be breached
or violated.

     

    6.04  Preservation of
Existence.  Subject to transactions permitted by Section 7.02 or Section 7.03, the
Company shall, and shall cause each Subsidiary to: (a) preserve and maintain in
full force and effect its existence and good standing under the laws of its
state or jurisdiction of organization; (b) preserve and maintain in full force
and effect all governmental rights, privileges, qualifications, permits,
licenses and franchises necessary or desirable in the normal conduct of its
business; (c) use reasonable efforts, in the ordinary course of business, to
preserve its business organization and goodwill; and (d) preserve or renew all
of its registered patents, trademarks, trade names and service marks; except, in
each case referred to in clauses (a) through
(d), to the
extent that the failure to do so could not reasonably be expected to have a
Material Adverse Effect.

     

    6.05  Maintenance of
Property.  Subject to transactions permitted by Section 7.02 or Section 7.03, the
Company shall maintain, and shall cause each Subsidiary to maintain, and
preserve all its property which is used or useful in its business in good
working order and condition, ordinary wear and tear excepted, except to the
extent that noncompliance would not have a Material Adverse Effect.

     

    6.06  Insurance.  The
Company shall maintain, and shall cause each of its Subsidiaries to maintain,
with financially sound and reputable independent insurers, insurance with
respect to its properties and business against loss or damage of the kinds
customarily insured against by Persons engaged in the same or similar business,
of such types and in such amounts (including deductibles, co-insurance and
self-insurance, if adequate reserves are maintained with respect thereto) as are
customarily carried under similar circumstances by such other Persons, except to
the extent that noncompliance would not have a Material Adverse Effect, and the
Company will furnish to any Bank upon request full information as to the
insurance carried within fifteen Business Days. 

     

    6.07  Payment of
Obligations.  The Company shall, and shall cause each
Subsidiary to, pay and discharge as the same shall become payable, all their
respective obligations and liabilities, including: (a) all tax liabilities,
assessments and governmental charges or levies upon it or its properties or
assets, except where (i) the same are being contested in good faith by
appropriate proceedings and (ii) unless the Company has received an opinion of
independent tax counsel that more likely than not neither the Company nor any of
its Subsidiaries is liable for such amounts, adequate reserves to the extent
required under GAAP are being maintained by the Company or such Subsidiary; (b)
all lawful claims which, if unpaid, would by law become a Lien upon its
property, except to the extent such claims may be contested in good faith by
appropriate proceedings or as to which a bona fide dispute may exist or with
respect to which adequate reserves to the extent required under GAAP have been
taken; and (c) all indebtedness, as and when payable, but subject to any
subordination provisions contained in any instrument or agreement evidencing
such Indebtedness, except to the extent such claims may be contested in good
faith by appropriate proceedings or as to which a bona fide dispute may exist or
with respect to which adequate reserves, to the extent required under GAAP, have
been taken; except, in each case referred to in clauses (a) through
(c), to the
extent that the failure to do so could not reasonably be expected to have a
Material Adverse Effect.

     

    6.08  Compliance with
Laws.  The Company shall comply, and shall cause each
Subsidiary to comply, in all respects with all Requirements of Law of any
Governmental Authority having jurisdiction over it or its business, except such
as may be contested in good faith or as to which a bona fide dispute may exist
and except to the extent that noncompliance would not reasonably be expected to
have a Material Adverse Effect.

     

    6.09  Inspection of Property and
Books and Records.  The Company shall maintain and shall
cause each Subsidiary to maintain proper books of record and account, in which
full, true and correct entries in conformity with GAAP consistently applied
shall be made of all financial transactions and matters involving the assets and
business of the Company and such Subsidiaries.  The Company shall
permit, and shall cause each Subsidiary to permit, representatives and
independent contractors of the Administrative Agent or any Bank to visit and
inspect any of their respective properties, to examine their respective
corporate, financial and operating records, and make copies thereof or abstracts
therefrom, and to discuss their respective affairs, finances and accounts with
their respective directors, officers, and (unless there exists an Event of
Default, in the presence of one or more officers of the Company, which persons
the Company agrees to make available) independent public accountants, all at
such reasonable times during normal business hours and as often as may be
reasonably desired, upon reasonable advance notice to the Company; provided that when an
Event of Default exists, the Administrative Agent or any Bank may do any of the
foregoing at the expense of the Company at any time during normal business hours
and without advance notice.

     

    6.10  Environmental
Laws.  The Company shall, and shall cause each
Subsidiary to, conduct its operations and keep and maintain its property in
compliance with all Environmental Laws, except to the extent that noncompliance
would not have a Material Adverse Effect.  

     

    6.11  Use of
Proceeds.  The Company shall use the proceeds of the
Loans for working capital and other general corporate purposes (including for
commercial paper back-up and to fund negotiated Acquisitions and other
investments otherwise permitted hereunder) not in contravention of any
Requirement of Law or of any Loan Document.

    ARTICLE VII

     

    NEGATIVE
COVENANTS

     

    So long
as any Bank has any Commitment hereunder, any Letter of Credit remains
outstanding or any Loan or other Obligation remains unpaid or unsatisfied,
unless the Majority Banks waive compliance in writing:

     

    7.01  Limitation on
Liens.  The Company shall not, and shall not suffer or
permit any Subsidiary (other than any Project Finance Subsidiary or any
International Subsidiary) to, directly or indirectly, make, create, incur,
assume or suffer to exist any Lien upon or with respect to any part of its
property, whether now owned or hereafter acquired, other than the following
(“Permitted
Liens”):

    (a)  any Lien
existing on property of the Company or any Subsidiary on the Execution Date and
set forth in Schedule
7.01 securing Indebtedness outstanding on such date;

    (b)  any Lien
created under any Loan Document;

    (c)  Liens for
taxes, fees, assessments or other governmental charges which are not delinquent
or remain payable without penalty, or to the extent that non-payment thereof is
permitted by Section
6.07;

    (d)  carriers’,
warehousemen’s, mechanics’, landlords’, materialmen’s, repairmen’s, operators’
(including Liens arising under operating, pooling or unitizing agreements of a
scope and nature customary in the oil and gas industry) or other similar Liens
arising in the ordinary course of business which are not delinquent or remain
payable without penalty or which are being contested in good faith and by
appropriate proceedings, which proceedings have the effect of preventing the
forfeiture or sale of the property subject thereto, and for which adequate
reserves are maintained on the books of such Person;

    (e)  Liens
(other than any Lien imposed by ERISA) consisting of pledges or deposits
required in the ordinary course of business under workers’ compensation laws,
unemployment insurance and other social security or retirement benefits, or
similar legislation;

    (f)  Liens on
the property of the Company or its Subsidiaries securing (i) the non-delinquent
performance of bids, trade contracts (other than for borrowed money), leases,
statutory obligations, (ii) contingent obligations on surety, reclamation and
appeal bonds, and (iii) other non-delinquent obligations of a like nature, in
each case, incurred in the ordinary course of business, provided all such
Liens in the aggregate would not (even if enforced) cause a Material Adverse
Effect;

    (g)  Liens
consisting of judgment or judicial attachment liens, provided that the
enforcement of such Liens is effectively stayed and the aggregate amount of the
obligations secured by all such liens for the Company and its Subsidiaries
(other than any Project Finance Subsidiary) does not exceed $50,000,000 at any
time;

    (h)  easements,
rights-of-way, restrictions and other similar encumbrances incurred in the
ordinary course of business which, in the aggregate, are not substantial in
amount, and which do not in any case materially detract from the value of the
property subject thereto or interfere with the ordinary conduct of the
businesses of the Company and its Subsidiaries;

    (i)  Liens on
assets of Persons which become Subsidiaries after the Execution Date or liens
existing on any property acquired by the Company or any Subsidiary at the time
such property is acquired, provided that (A)
such Liens existed at the time the respective Persons became Subsidiaries or at
the time such property was acquired, as applicable, and were not created in
anticipation thereof and (B) such Liens shall extend solely to the property so
acquired and to identifiable proceeds thereof, and shall not attach to any other
property of the Company or its Subsidiaries;

    (j)  purchase
money security interests on any real or personal property acquired or held by
the Company or its Subsidiaries in the ordinary course of business, securing
Indebtedness incurred or assumed for the purpose of financing all or any part of
the cost of acquiring such property; provided that (i) any
such Lien attaches to such property concurrently with or within 20 days after
the acquisition thereof, (ii) such Lien attaches solely to the property so
acquired in such transaction, and (iii) the principal amount of the debt secured
thereby does not exceed 100% of the cost of such property;

    (k)  Liens
securing obligations in respect of capital leases on assets subject to such
leases, provided that such
capital leases are otherwise permitted hereunder;

    (l)  Liens
arising solely by virtue of any statutory or common law provision relating to
banker’s liens, rights of set-off or similar rights and remedies as to deposit
accounts or other funds maintained with a creditor depository institution; provided that (i)
such deposit account is not a dedicated cash collateral account and is not
subject to restrictions against access by the Company in excess of those set
forth by regulations promulgated by the FRB, and (ii) such deposit account is
not intended by the Company or any Subsidiary to provide collateral to the
depository institution;

    (m)  Liens
arising in connection with Securitization Transactions; provided that the
amount of all Securitization Obligations shall not at any time exceed
$75,000,000;

    (n)  Liens on
the stock or other equity interests of any Project Finance Subsidiary to secure
obligations of such Project Finance Subsidiary (provided that the agreement
under which any such Lien is created shall expressly state that it is
non-recourse to the pledgor);

    (o)  Liens
securing Indebtedness of a Subsidiary owed to the Company;

    (p)  other
Liens securing Indebtedness otherwise permitted herein not exceeding $20,000,000
in the aggregate; and

    (q)  any Lien
renewing, extending or refunding any Lien permitted by clause (a), (i) or (j) of this Section 7.01; provided that (i) the
principal amount of the Indebtedness secured by the subject Liens is not
increased over the amount of the Indebtedness secured thereby immediately prior
to such extension, renewal or refunding, (ii) such Lien is not extended to any
other property and (iii) immediately after such extension, renewal or refunding,
no Default or Event of Default would exist.

     

    7.02  Disposition of
Assets.  The Company shall not, and shall not suffer or
permit any Subsidiary (other than any Project Finance Subsidiary or any
International Subsidiary) to, directly or indirectly, sell, assign, lease,
convey, transfer or otherwise dispose of (whether in one or a series of
transactions) any assets (including accounts and notes receivable, with or
without recourse, and including any interest in any Subsidiary) or enter into
any agreement to do any of the foregoing, except:

    (i)  dispositions
of inventory (including inventory comprised of electric energy, gas, oil, coal,
aggregate and other materials and products generated, manufactured, produced,
mined or purchased for sale, distribution or use in the ordinary course of
business), or used, worn-out, damaged or surplus equipment, all in the ordinary
course of business;

    (ii)  the sale
of equipment to the extent that such equipment is exchanged for credit against
the purchase price of similar replacement equipment, or the proceeds of such
sale are reasonably promptly applied to the purchase price of such replacement
equipment;

    (iii)  dispositions
of assets by the Company or any Subsidiary to the Company or any Subsidiary
(other than a Project Finance Subsidiary) pursuant to reasonable business
requirements;

    (iv)  exchanges
of property on which recognition of gain or loss would be exempted from
recognition pursuant to section 1031 of the Code; or

    (v)  the sale,
assignment or other transfer of accounts receivable, lease receivables or other
rights to payment pursuant to any Securitization Transaction;

    provided that
dispositions not prohibited by other provisions of this Agreement and not
otherwise permitted by the foregoing which are made for fair market value are
permitted so long
as (w) at the time of any disposition, no Default or Event of Default
shall exist or shall result from such disposition, (x) the aggregate sales price
from such disposition shall be paid (1) in cash, (2) in marketable securities
that are the subject of widely or regularly distributed standard price
quotations, and/or (3) through the issuance of indebtedness by the buyer of such
assets; provided that the
aggregate outstanding principal amount of all such indebtedness shall not at any
time exceed $20,000,000, (y) the aggregate value of all assets so sold by the
Company and its Subsidiaries pursuant to clauses (i) through
(iv), together,
shall not exceed in any fiscal year 20% of total consolidated assets (as
determined in accordance with GAAP) of the Company and its Subsidiaries, based
upon the most recent financial statements delivered to the Administrative Agent
under Section
6.01, and (z) the aggregate amount of all Securitization Obligations
shall not at any time exceed $75,000,000; and provided, further, that in no
event shall the Company sell, assign, lease, convey, transfer or otherwise
dispose of any capital stock or other equity interests in any of the Principal
Operating Subsidiaries, except pursuant to a merger or other transaction
permitted in accordance with Section
7.03.

     

    7.03  Consolidations and
Mergers.  The Company shall not, and shall not suffer or
permit any Subsidiary (other than any Project Finance Subsidiary or any
International Subsidiary) to, merge or consolidate with or into, or convey,
transfer, lease or otherwise dispose of (whether in one transaction or in a
series of transactions) all or substantially all of its assets (whether now
owned or hereafter acquired) to or in favor of, any Person, except:

    (a)  any
Subsidiary may merge or consolidate with or into (i) the Company, provided that the
Company shall be the continuing or surviving corporation, or (ii) any one or
more Subsidiaries (other than a Project Finance Subsidiary or an International
Subsidiary (unless such merger or consolidation involves only International
Subsidiaries)); provided that if (A)
any transaction shall be between a Subsidiary and a Wholly-Owned Subsidiary, the
Wholly-Owned Subsidiary shall be the continuing or surviving entity and (B) any
transaction shall involve a Principal Operating Subsidiary, a Principal
Operating Subsidiary shall be the continuing or surviving entity;

    (b)  the
Company and any Subsidiary may convey, transfer, lease or otherwise dispose of
all or substantially all of its assets in compliance with the provisions of
Section
7.02;

    (c)  any
Subsidiary may convey, transfer, lease or otherwise dispose of all or
substantially all of its assets (upon voluntary liquidation or otherwise) to the
Company or another Wholly-Owned Subsidiary (other than a Project Finance
Subsidiary);

    (d)  any
Subsidiary may merge, consolidate or combine with or into any other Person;
provided that
the successor formed by such consolidation or combination or the survivor of
such merger is a Subsidiary and the Company directly or indirectly through
Wholly-Owned Subsidiaries owns at least the same percentage of outstanding stock
or other equity interests of the successor or survivor Subsidiary as the
Subsidiary involved in the consolidation, combination or merger; and provided, further, that (i) the
prior, effective written consent or approval to such consolidation, combination
or merger of the board of directors or equivalent governing body of the other
party is obtained and (ii) in the case of a merger, consolidation or combination
with or into an entity that, if it were a separate Subsidiary of the Company,
would be deemed to constitute a Significant Subsidiary, the Pricing Rating
immediately before giving effect to such transaction is not below, and the
Pricing Rating would not reasonably be expected solely as a result of such
transaction to decline below, BBB+ or Baa1; and

    (e)  the
Company may merge, consolidate or combine with another entity if the Company is
the Person surviving the merger, consolidation or combination; provided that (i) the
prior, effective written consent or approval to such consolidation, combination
or merger of the board of directors or equivalent governing body of the other
party is obtained and (ii) in the case of a merger, consolidation or combination
with or into an entity that, if it were a separate Subsidiary of the Company,
would be deemed to constitute a Significant Subsidiary, the Pricing Rating
immediately before giving effect to such transaction is not below, and the
Pricing Rating would not reasonably be expected solely as a result of such
transaction to decline below, BBB+ or Baa1.

     

    7.04  Loans and
Investments.  The Company shall not purchase or acquire,
or suffer or permit any Subsidiary (other than a Project Finance Subsidiary) to
purchase or acquire, or make any legally binding commitment therefor, any
capital stock or other equity interests, or any obligations or other securities
of, or any interest in, any Person, or make, or make any legally binding
commitment to make, any Acquisitions, or make, or make any legally binding
commitment to make, any advance, loan, extension of credit or capital
contribution to or any other investment in, any Person, including any Affiliate
of the Company, except for:  

    (a)  investments
in cash equivalents and short-term marketable securities pursuant to and in
accordance with the terms of the Company’s then-current investment policy duly
adopted by the board of directors of the Company (the “Investment
Policy”);

    (b)  investments
in capital stock, equity or long-term fixed income securities of any Subsidiary
(other than a Project Finance Subsidiary) that is not a Wholly-Owned Subsidiary,
or otherwise undertaken in accordance with the Investment Policy, which do not
in the aggregate exceed $50,000,000 in value at any time (value for this purpose
being defined as the greatest of face value, market value or original cost to
the Company or any Subsidiary);

    (c)  extensions
of credit in the nature of accounts receivable or notes receivable arising from
the sale or lease of goods or services in the ordinary course of
business;

    (d)  subject
to Section
7.12, advances, loans and other extensions of credit by the Company to
any of its Wholly-Owned Subsidiaries (other than a Project Finance Subsidiary)
or by any of its Wholly-Owned Subsidiaries to another of its Wholly-Owned
Subsidiaries (other than a Project Finance Subsidiary);

    (e)  equity
investments in or capital contributions to any Wholly-Owned Subsidiary (other
than a Project Finance Subsidiary) by the Company or any of its Wholly-Owned
Subsidiaries;

    (f)  investments
incurred in order to consummate Acquisitions; provided that such
Acquisitions are undertaken in accordance with all material applicable
Requirements of Law and the prior, effective written consent or approval to such
Acquisition of the board of directors or equivalent governing body of the
acquiree is obtained;

    (g)  investments
in, Guaranty Obligations in respect of, or advances, loans, extensions of credit
or capital contributions to, any Project Finance Subsidiary; provided that,
notwithstanding any other provision of this Section 7.04, the
aggregate amount of all such investments, Guaranty Obligations, advances, loans,
extensions of credit and capital contributions (without giving effect to any
changes in the value thereof after the making thereof) shall not in the
aggregate exceed $75,000,000 in value at any time (value for this purpose being
defined as the original cost to the Company or any Subsidiary);

    (h)  investments
in the MDU Resources Group, Inc. Benefits Protection Trust in accordance with
past practice of the Company; or

    (i)  other
investments; provided that the
value of the aggregate amount of investments permitted by this clause (i) shall not
exceed 15% of Consolidated Net Worth at any time.

    Nothing
contained in this Section 7.04 (other
than clause (g)
hereof) shall prohibit the Company or any Subsidiary from incurring Guaranty
Obligations to the extent permitted by Section 7.11 and
Section
7.12.

     

    7.05  Transactions with
Affiliates.  The Company shall not enter into any
material transaction or arrangement or series of related transactions or
arrangements that in the aggregate would be material with any Affiliate of the
Company, and the Company shall not suffer or permit any Subsidiary (other than a
Project Finance Subsidiary) to enter into any material transaction or
arrangement or series of related transactions or arrangements that in the
aggregate would be material with any Affiliate of the Company other than another
Subsidiary of the Company that is a Wholly-Owned Subsidiary (but which is not a
Project Finance Subsidiary), except (i) upon fair and reasonable terms no less
favorable to the Company or such Subsidiary than would be obtained, taking into
account all facts and circumstances, in a comparable arm’s-length transaction
with a Person not an Affiliate of the Company or such Subsidiary, (ii) in
connection with any transaction permitted by Section 7.04(g), or
(iii) (A) in the ordinary course and pursuant to the reasonable requirements of
the business of Williston Basin Interstate Pipeline Company (“Williston Basin”) as
may be required by the Federal Energy Regulatory Commission or other appropriate
Governmental Authorities having jurisdiction over Williston Basin, or (B)
pursuant to the Asset Purchase Agreement, dated August 6, 1982, by and between
Montana-Dakota Utilities Co. (“Montana-Dakota”) and
Williston Basin, as amended by Amendment to the Asset Purchase Agreement, dated
January 21, 1985, entered into in furtherance of the Revised Stipulation and
Agreement of Settlement in FERC Docket No. CP82-487-000 et al. (the “Settlement
Agreement”), to the extent that Article Twelve thereof requires Williston
Basin, if and when it implements a pricing mechanism for Williston Basin owned
production which results in prices higher than cost-of-service pricing for such
production, to make a payment to Montana-Dakota which is equal in amount to the
adjustment made by Montana-Dakota pursuant to Section 10.1 of such Settlement
Agreement; provided that all
such transactions and agreements permitted by this clause (iii) do not,
individually or in the aggregate, result in a Material Adverse
Effect.

     

    7.06  Use of
Proceeds.  The Company shall not, and shall not suffer
or permit any Subsidiary to, use any portion of the Loan proceeds, directly or
indirectly, (a) to purchase or carry Margin Stock, (b) to repay or otherwise
refinance Indebtedness of the Company or others incurred to purchase or carry
Margin Stock, (c) to extend credit for the purpose of purchasing or carrying any
Margin Stock, or (d) to make any Acquisition that is opposed by either the board
of directors or similar governing body, or by stockholders or other equity
holders possessing a majority of the voting power of the outstanding voting
stock or other equity interests, as the case may be, of the entity that is
subject to, or whose assets are the subject of, such Acquisition.

     

    7.07  Joint
Ventures.  The Company shall not, and shall not suffer
or permit any Subsidiary to, enter into any Joint Venture that is or will be
engaged in any line of business other than (a) businesses engaged in by MDU
Resources Group, Inc. and its Subsidiaries as of the date of this Agreement, or
(b) businesses closely related to any business engaged in by MDU Resources
Group, Inc. and its Subsidiaries as of the date of this Agreement.

     

    7.08  Restricted
Payments.  The Company shall not, and shall not suffer
or permit any Subsidiary (other than a Project Finance Subsidiary) to, declare
or make any dividend payment or other distribution of assets, properties, cash,
rights, obligations or securities on account of any shares of any class of its
capital stock or other equity interests, or purchase, redeem or otherwise
acquire for value any shares of its capital stock or any other equity interests
or any warrants, rights or options to acquire such shares or other equity
interests, now or hereafter outstanding; except that (a) any Subsidiary may
declare and pay dividends or make distributions to the Company or a Wholly-Owned
Subsidiary, and (b) the Company or any Subsidiary may: 

    (i)  declare
and make dividend payments or other distributions payable solely in its common
stock or other equity interests;

    (ii)  purchase,
redeem or otherwise acquire shares of its common stock or other equity interests
or warrants or options to acquire any such shares with the proceeds received
from the substantially concurrent issue of new shares of its common stock or
other equity interests; and

    (iii)  declare
or pay cash dividends or other distributions to its equity holders and purchase,
redeem or otherwise acquire shares of its capital stock or other equity
interests or warrants, rights or options to acquire any such shares or other
equity interests for cash in an aggregate amount for any fiscal year not to
exceed the Maximum Annual RP Amount (as defined below); provided that in each
case immediately after giving effect to such proposed action, no Default or
Event of Default would exist.  As used herein, “Maximum Annual RP
Amount” means, for any fiscal year, (x) in the case of the fiscal year ending
December 31, 2007, $350,000,000, and (y) in the case of any other fiscal year,
100% of the consolidated net income after taxes of the Company or Subsidiary, as
the case may be, arising during the immediately preceding fiscal year and
computed on a cumulative consolidated basis.

     

    7.09  Change in
Business.  The Company shall not, and shall not suffer
or permit any Subsidiary to, engage in any material line of business
substantially different from those lines of business carried on by MDU Resources
Group, Inc. and its Subsidiaries on the date hereof.

     

    7.10  Accounting
Changes.  The Company shall not, and shall not suffer or
permit any Subsidiary to, make any significant change in accounting treatment or
reporting practices, except as required by GAAP, or change the fiscal year of
the Company.

     

    7.11  Maximum Company
Capitalization Ratio.  The Company shall not permit the
Company’s Capitalization Ratio to exceed 65% as of the end of any fiscal quarter
during the term hereof.

     

    7.12  Limitation on Subsidiary
Indebtedness.  The Company will not permit any
Subsidiary of the Company to, directly or indirectly, create, incur, assume,
guarantee, have outstanding, or otherwise become or remain directly or
indirectly liable with respect to, any Indebtedness other than:

    (i)  Indebtedness
outstanding on the date hereof and disclosed in Schedule 7.12; provided that such
Indebtedness may not be extended, renewed or refunded except as otherwise
permitted by this Agreement;

    (ii)  Indebtedness
in respect of unsecured surety bonds incurred in the ordinary course of
business;

    (iii)  Indebtedness
of a Subsidiary owed to the Company or any Wholly-Owned Subsidiary (other than a
Project Finance Subsidiary);

    (iv)  Indebtedness
under Covered Contracts;

    (v)  Indebtedness
of Williston Basin to the extent such Indebtedness does not exceed
$100,000,000;

    (vi)  Indebtedness
of a Project Finance Subsidiary for which neither the Company nor or any other
Subsidiary (other than another Project Finance Subsidiary) has any liability
(other than pursuant to Liens permitted by Section 7.01(n) or to
the extent permitted by Section 7.04);
and

    (vii)  Indebtedness
of a Subsidiary (other than a Project Finance Subsidiary) in addition to that
otherwise permitted by the foregoing provisions of this Section 7.12; provided that on the
date the Subsidiary incurs or otherwise becomes liable with respect to any such
additional Indebtedness and immediately after giving effect thereto and to the
concurrent retirement of any other Indebtedness, (A) no Default or Event of
Default exists and (B) the total amount of all Indebtedness described in this
clause (vii)
outstanding does not exceed $50,000,000.

    For
purposes of this Section 7.12, any
Person becoming a Subsidiary after the date hereof shall be deemed, at the time
it becomes a Subsidiary, to have incurred all of its then outstanding
Indebtedness, and any Person extending, renewing or refunding any Indebtedness
shall be deemed to have incurred such Indebtedness at the time of such
extension, renewal or refunding. Notwithstanding any provision of this Agreement
to the contrary, the Company will not at any time permit (a) the sum of (i) the
aggregate stated amount of all Letters of Credit issued jointly for the account
of the Company and Centennial International plus (ii) the aggregate amount of
all intercompany loans and other advances made by the Company or any Subsidiary
(other than any International Subsidiary) to the International Subsidiaries to
at any time exceed $100,000,000 or (b) the aggregate outstanding principal
amount of consolidated Indebtedness of the International Subsidiaries (including
with respect to intercompany loans and advances (other than any loan or advance
made by any International Subsidiary) and Letters of Credit) to exceed 10% of
the result of (i) Consolidated Net Worth less (ii) the aggregate book value of
the consolidated intangible assets of the Company and its
Subsidiaries.

     

    7.13  Agreements Restricting
Subsidiary Dividends.  With the exception of (a) the
referenced sections of the existing agreements specified in Schedule 7.13, (b)
Organization Documents of any Subsidiary and Requirements of Law and (c)
agreements, instruments or other documents, evidencing Indebtedness and/or
Contingent Obligations having an aggregate principal amount not in excess of
$15,000,000, to which any Person which becomes a Subsidiary after the Execution
Date and which, together with all other Subsidiaries of the Company which became
Subsidiaries after the Execution Date that are parties to such agreements,
instruments or documents, would, if a single Subsidiary of the Company, be a
Significant Subsidiary (a “Restricted Future
Subsidiary”) is a party, that existed at the time the Person became a
Subsidiary and were not entered into in anticipation thereof, the Company agrees
that it will not, and it will not permit any Person that, as of the Execution
Date, is a Subsidiary or any Restricted Future Subsidiary (other than any
Project Finance Subsidiary) to, be a party to or enter into any agreement,
instrument or other document which contractually prohibits or restricts the
ability of any Subsidiary to pay dividends or make any other similar
distributions to the Company or any of its wholly-owned Subsidiaries that owns
outstanding shares of capital stock or similar equity interests of such
Subsidiary.

     

    7.14  Activities of International
Subsidiaries.  The Company agrees that it will not
permit any International Subsidiary, directly or indirectly, to be primarily
engaged in the ownership or financing of assets located in, or to conduct the
primary portion of its operations in, the United States.

     

    ARTICLE VIII

     

    EVENTS OF
DEFAULT

     

    8.01  Event of
Default.  Any of the following shall constitute an
“Event of Default”:

    (a)  Non-Payment.  The
Company fails to pay (i) within two days after the same becomes due, any amount
of principal of any Loan or any Reimbursement Obligations, (ii) within five days
after the same becomes due, any interest or fee hereunder, or (iii) within five
days after the same becomes due pursuant to delivery of a written demand
therefor by the Administrative Agent or any Bank, any other amount payable
hereunder or under any other Loan Document; or

    (b)  Representation or
Warranty.  Any representation or warranty by the Company or any
Subsidiary made or deemed made herein or in any other Loan Document, or which is
contained in any certificate, document or financial or other statement by the
Company, any Subsidiary, or any Responsible Officer, furnished at any time under
this Agreement, or in or under any other Loan Document, is incorrect in any
material respect on or as of the date made or deemed made; or

    (c)  Specific
Defaults.  (i) The Company fails to perform or observe any
term, covenant or agreement contained in Article VII; or (ii)
the Company fails to perform or observe any term, covenant or agreement
contained in any of Section 6.01, 6.02, 6.03, 6.04(a) (with respect
to the Company) or 6.09 and such failure
continues for a period of three days after the date such performance or
observance is first required; or

    (d)  Other
Defaults.  The Company fails to perform or observe any other
term or covenant contained in this Agreement or any other Loan Document, and
such default shall continue unremedied for a period of 30 days after the earlier
of (i) the date upon which a Responsible Officer knew or reasonably should have
known of such failure or (ii) the date upon which written notice thereof is
given to the Company by the Administrative Agent or any Bank; or

    (e)  Cross-Default.  The
Company or any Subsidiary (i) fails to make any payment in respect of any
Indebtedness or Contingent Obligation having an aggregate principal amount
(including undrawn committed or available amounts and including amounts owing to
all creditors under any combined or syndicated credit arrangement) of more than
$25,000,000 when due (whether by scheduled maturity, required prepayment,
acceleration, demand, or otherwise) and such failure continues after the
applicable grace or notice period, if any, specified in the relevant document on
the date of such failure; or (ii) fails to perform or observe any other
condition or covenant, or any other event shall occur or condition exist, under
any agreement or instrument relating to any such Indebtedness or Contingent
Obligation, and such failure continues after the applicable grace or notice
period, if any, specified in the relevant document on the date of such failure
if the effect of such failure, event or condition is to cause, or to permit the
holder or holders of such Indebtedness or beneficiary or beneficiaries of such
Indebtedness (or a trustee or agent on behalf of such holder or holders or
beneficiary or beneficiaries) to cause, such Indebtedness to be declared to be
due and payable prior to its stated maturity, or such Contingent Obligation to
become payable or cash collateral in respect thereof to be demanded;
or

    (f)  Insolvency; Voluntary
Proceedings.  The Company or any Subsidiary (i) ceases or fails
to be Solvent, or generally fails to pay, or admits in writing its inability to
pay, its debts as they become due, subject to applicable grace periods, if any,
whether at stated maturity or otherwise; (ii) voluntarily ceases to conduct its
business in the ordinary course; (iii) commences any Insolvency Proceeding with
respect to itself; or (iv) takes any action to effectuate or authorize any of
the foregoing; or

    (g)  Involuntary
Proceedings.  (i) Any involuntary Insolvency Proceeding is
commenced or filed against the Company or any Subsidiary, or any writ, judgment,
warrant of attachment, execution or similar process is issued or levied against
a substantial part of the Company’s or any Subsidiary’s properties, and any such
proceeding or petition shall not be dismissed, or such writ, judgment, warrant
of attachment, execution or similar process shall not be released, vacated or
fully bonded within 60 days after commencement, filing or levy; (ii) the Company
or any Subsidiary admits the material allegations of a petition against it in
any Insolvency Proceeding, or an order for relief (or similar order under
non-U.S. law) is ordered in any Insolvency Proceeding; or (iii) the Company or
any Subsidiary acquiesces in the appointment of a receiver, trustee, custodian,
conservator, liquidator, mortgagee in possession (or agent therefor), or other
similar Person for itself or a substantial portion of its property or business;
or

    (h)  ERISA.  (i)
An ERISA Event or ERISA Termination Event shall occur with respect to a Pension
Plan or Multiemployer Plan which has resulted or would reasonably be expected to
result in liability of the Company under Title IV of ERISA to the Pension Plan,
Multiemployer Plan or the PBGC in an aggregate amount in excess of 10% of
Consolidated Net Worth; (ii) the commencement or increase of contributions to,
or the adoption of or the amendment of, a Pension Plan by the Company or an
ERISA Affiliate which has resulted or could reasonably be expected to result in
an increase in Unfunded Pension Liability among all Pension Plans in an
aggregate amount in excess of 10% of Consolidated Net Worth; or (iii) the
Company or an ERISA Affiliate shall fail 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
which has resulted or could reasonably be expected to result in a Material
Adverse Effect; or

    (i)  Judgments.  (x)
One or more non-interlocutory judgments, non-interlocutory orders, decrees or
arbitration awards is entered against the Company or any Subsidiary involving in
the aggregate a liability (to the extent not covered by independent third-party
insurance as to which the insurer does not dispute coverage) of $15,000,000 or
more; or (y) any non-monetary final judgment is entered against the Company or
any Subsidiary that has, or could reasonably be expected to have, a material
adverse effect on the ability of the Company to perform its obligations under
the Loan Documents; and in either case, the same shall remain unsatisfied,
unvacated and unstayed pending appeal for a period of 45 days after the entry
thereof; or

    (j)  Change of
Control.  There occurs any Change of Control; or

    (k)  Invalidity of Loan
Documents.  Any Loan Document ceases to be in full force and
effect or the Company contests in any manner the validity or enforceability
thereof.

     

    8.02  Remedies.  If
any Event of Default occurs, the Administrative Agent shall, at the request of,
or may, with the consent of, the Majority Banks, 

    (a)  declare
the commitment of each Bank to make Loans and of the Issuers to issue Letters of
Credit to be suspended or terminated, whereupon such commitments shall be
suspended or terminated, as applicable;

    (b)  declare
all or any part of the Obligations to be immediately due and payable, without
presentment, demand, protest or other notice of any kind, all of which are
hereby expressly waived by the Company;

    (c)  exercise
on behalf of itself and the Banks all rights and remedies available to it and
the Banks under the Loan Documents or applicable law; and/or

    (d)  upon
notice to the Company and in addition to the continuing right to demand payment
of all amounts payable under this Agreement, make demand on the Company to pay,
and the Company will, forthwith upon such demand and without any further notice
or act, pay to the Administrative Agent an amount in immediately available funds
equal to the excess of (i) the amount of Letter of Credit Obligations at such
time over (ii) the amount on deposit in the LC Collateral Account at such time
which is free and clear of all rights and claims of third parties and has not
been applied against the Obligations (such difference, the “Collateral Shortfall
Amount”), which funds shall be deposited and held in the LC Collateral
Account;

     

    provided that upon
the occurrence of any event specified in clause (f) or (g) of Section 8.01 (in the
case of clause
(i) of clause
(g) upon the expiration of the 60-day period mentioned therein), the
obligation of each Bank to make Loans and the obligation and power of each
Issuer to issue Letters of Credit shall automatically terminate and the
Obligations shall automatically become due and payable without further act of
the Administrative Agent or any Bank and the Company will be and become thereby
unconditionally obligated, without any further notice, act or demand, to pay to
the Administrative Agent the Collateral Shortfall Amount; provided, further, that if,
within 30 days after acceleration of the Obligations or termination of the
obligations of the Banks to make Loans and of the Issuers to issue Letters of
Credit as a result of any Event of Default (other than any Event of Default as
described in clause
(f) or (g) of Section 8.01 with
respect to the Company) and before any judgment or decree for the payment of the
Obligations due shall have been obtained or entered, the Majority Banks (in
their sole discretion) shall so direct, the Administrative Agent shall, by
notice to the Company, rescind and annul such acceleration and/or
termination.

     

    ARTICLE IX

     

    THE ADMINISTRATIVE
AGENT

     

    9.01  Appointment; Nature of
Relationship.  (a) U.S. Bank is hereby appointed by each
of the Banks as its contractual representative (herein referred to as the “Administrative
Agent”) hereunder and under each other Loan Document, and each of the
Banks irrevocably authorizes the Administrative Agent to act as the contractual
representative of such Bank with the rights and duties expressly set forth
herein and in the other Loan Documents.  The Administrative Agent
agrees to act as such contractual representative upon the express conditions
contained in this Article
IX.  Notwithstanding the use of the defined term
“Administrative Agent,” it is expressly understood and agreed that the
Administrative Agent shall not have any fiduciary responsibilities to any Bank
by reason of this Agreement or any other Loan Document and that the
Administrative Agent is merely acting as the contractual representative of the
Banks with only those duties as are expressly set forth in this Agreement and
the other Loan Documents.  In its capacity as the Banks’ contractual
representative, the Administrative Agent (i) does not hereby assume any
fiduciary duties to any of the Banks, (ii) is a “representative” of the Banks
within the meaning of Section 9-102 of the Uniform Commercial Code and (iii) is
acting as an independent contractor, the rights and duties of which are limited
to those expressly set forth in this Agreement and the other Loan
Documents.  Each of the Banks hereby agrees to assert no claim against
the Administrative Agent on any agency theory or any other theory of liability
for breach of fiduciary duty, all of which claims each Bank hereby
waives.

               (b)           Each
Issuer shall act on behalf of the Banks with respect to any Letter of Credit
issued by it and the documents associated therewith.  Each Issuer
shall have all of the benefits and immunities  provided to the
Administrative Agent in this Article IX with
respect to any acts taken or omissions suffered by such Issuer in connection
with Letters of Credit issued by it or proposed to be issued by it and the
applications and agreements for letters of credit pertaining to such Letters of
Credit as fully as if the term “Administrative Agent”, as used in this Article IX, included
such Issuer with respect to such acts or omissions and  as
additionally provided in this Agreement with respect to such
Issuer.

     

    9.02  Powers.  The
Administrative Agent shall have and may exercise such powers under the Loan
Documents as are specifically delegated to the Administrative Agent by the terms
of each thereof, together with such powers as are reasonably incidental
thereto.  The Administrative Agent shall have no implied duties to the
Banks, or any obligation to the Banks to take any action thereunder except any
action specifically provided by the Loan Documents to be taken by the
Administrative Agent.

     

    9.03  General
Immunity.  Neither the Administrative Agent nor any of
its directors, officers, agents or employees shall be liable to the Company or
any Bank for any action taken or omitted to be taken by it or them hereunder or
under any other Loan Document or in connection herewith or therewith except to
the extent such action or inaction is determined in a final non-appealable
judgment by a court of competent jurisdiction to have arisen from the gross
negligence or willful misconduct of such Person.

     

    9.04  No Responsibility for Loans,
Recitals, etc.  Neither
the Administrative Agent nor any of its directors, officers, agents or employees
shall be responsible for or have any duty to ascertain, inquire into, or verify
(a) any statement, warranty or representation made in connection with any Loan
Document or any borrowing hereunder; (b) the performance or observance of any of
the covenants or agreements of any obligor under any Loan Document, including,
without limitation, any agreement by an obligor to furnish information directly
to each Bank; (c) the satisfaction of any condition specified in Article IV, except
receipt of items required to be delivered solely to the Administrative Agent;
(d) the existence or possible existence of any Default or Event of Default; (e)
the validity, enforceability, effectiveness, sufficiency or genuineness of any
Loan Document or any other instrument or writing furnished in connection
therewith; (f) the value, sufficiency, creation, perfection or priority of any
Lien in any collateral security; or (g) the financial condition of the Company
or any guarantor of any of the Obligations or of any of the Company’s or any
such guarantor’s respective Subsidiaries.  The Administrative Agent
shall have no duty to disclose to the Banks information that is not required to
be furnished by the Company to the Administrative Agent at such time, but is
voluntarily furnished by the Company to the Administrative Agent (either in its
capacity as Administrative Agent or in its individual capacity).

     

    9.05  Action on Instructions of
Banks.  The Administrative Agent shall in all cases be
fully protected in acting, or in refraining from acting, hereunder and under any
other Loan Document in accordance with written instructions signed by the
Majority Banks, and such instructions and any action taken or failure to act
pursuant thereto shall be binding on all of the Banks.  The Banks
hereby acknowledge that the Administrative Agent shall be under no duty to take
any discretionary action permitted to be taken by it pursuant to the provisions
of this Agreement or any other Loan Document unless it shall be requested in
writing to do so by the Majority Banks.  The Administrative Agent
shall be fully justified in failing or refusing to take any action hereunder and
under any other Loan Document unless it shall first be indemnified to its
satisfaction by the Banks pro rata against any and all liability, cost and
expense that it may incur by reason of taking or continuing to take any such
action.

     

    9.06  Employment of Agents and
Counsel.  The Administrative Agent may execute any of
its duties as Administrative Agent hereunder and under any other Loan Document
by or through employees, agents, and attorneys-in-fact and shall not be
answerable to the Banks, except as to money or securities received by it or its
authorized agents, for the default or misconduct of any such agents or
attorneys-in-fact selected by it with reasonable care.  The
Administrative Agent shall be entitled to advice of counsel concerning the
contractual arrangement between the Administrative Agent and the Banks and all
matters pertaining to the Administrative Agent’s duties hereunder and under any
other Loan Document.

     

    9.07  Reliance on Documents;
Counsel.  The Administrative Agent shall be entitled to
rely upon any Note, notice, consent, certificate, affidavit, letter, telegram,
statement, paper or document believed by it to be genuine and correct and to
have been signed or sent by the proper person or persons, and, in respect to
legal matters, upon the opinion of counsel selected by the Administrative Agent,
which counsel may be employees of the Administrative Agent.  For
purposes of determining compliance with the conditions specified in Section 4.01, each
Bank that has executed this Agreement shall be deemed to have consented to,
approved or accepted or to be satisfied with, each document or other matter
either sent by the Administrative Agent to such Bank for consent, approval,
acceptance or satisfaction, or required thereunder to be consented to or
approved by or acceptable or satisfactory to the Bank.

     

    9.08  Administrative Agent’s
Reimbursement and Indemnification.  The Banks agree to
reimburse and indemnify the Administrative Agent ratably in proportion to their
respective Commitments (or, if the Commitments have been terminated, in
proportion to their Commitments immediately prior to such termination) (i) for
any amounts not reimbursed by the Company for which the Administrative Agent is
entitled to reimbursement by the Company under the Loan Documents, (ii) for any
other expenses incurred by the Administrative Agent on behalf of the Banks, in
connection with the preparation, execution, delivery, administration and
enforcement of the Loan Documents (including, without limitation, for any
expenses incurred by the Administrative Agent in connection with any dispute
between the Administrative Agent and any Bank or between two or more of the
Banks) and (iii) for any liabilities, obligations, losses, damages, penalties,
actions, judgments, suits, costs, expenses or disbursements of any kind and
nature whatsoever which may be imposed on, incurred by or asserted against the
Administrative Agent in any way relating to or arising out of the Loan Documents
or any other document delivered in connection therewith or the transactions
contemplated thereby (including, without limitation, for any such amounts
incurred by or asserted against the Administrative Agent in connection with any
dispute between the Administrative Agent and any Bank or between two or more of
the Banks), or the enforcement of any of the terms of the Loan Documents or of
any such other documents; provided that (i) no
Bank shall be liable for any of the foregoing to the extent any of the foregoing
is found in a final non-appealable judgment by a court of competent jurisdiction
to have resulted from the gross negligence or willful misconduct of the
Administrative Agent and (ii) any indemnification required pursuant to Section 3.05(g)
shall, notwithstanding the provisions of this Section 9.08, be paid
by the relevant Bank in accordance with the provisions thereof.  The
obligations of the Banks under this Section 9.08 shall
survive payment of the Obligations and termination of this
Agreement.

     

    9.09  Notice of
Default.  The Administrative Agent shall not be deemed
to have knowledge or notice of the occurrence of any Default or Event of Default
hereunder, except with respect to a Default or Event of Default arising from the
non-payment of principal, interest or fees required to be paid to the
Administrative Agent for the account of the Banks, unless the Administrative
Agent has received written notice from a Bank or the Company referring to this
Agreement describing such Default or Event of Default and stating that such
notice is a “notice of default”.  If the Administrative Agent receives
such a notice, the Administrative Agent shall give prompt notice thereof to the
Banks.

     

    9.10  Rights as a
Bank.  If the Administrative Agent is a Bank, the
Administrative Agent shall have the same rights and powers hereunder and under
any other Loan Document with respect to its Commitment and its Loans as any Bank
and may exercise the same as though it were not the Administrative Agent, and
the term “Bank” or “Banks” shall, at any time when the Administrative Agent is a
Bank, unless the context otherwise indicates, include the Administrative Agent
in its individual capacity.  The Administrative Agent and its
Affiliates may accept deposits from, lend money to, and generally engage in any
kind of trust, debt, equity or other transaction, in addition to those
contemplated by this Agreement or any other Loan Document, with the Company or
any of its Affiliates in which the Company or such Affiliates is not restricted
hereby from engaging with any other Person.  The Administrative Agent,
in its individual capacity, is not obligated to remain a Bank.

     

    9.11  Bank Credit
Decision.  Each Bank acknowledges that it has,
independently and without reliance upon the Administrative Agent, any Co-Lead
Arranger, any Issuer or any other Bank and based on the financial statements
prepared by the Company and such other documents and information as it has
deemed appropriate, made its own credit analysis and decision to enter into this
Agreement and the other Loan Documents.  Each Bank also acknowledges
that it will, independently and without reliance upon the Administrative Agent,
any Co-Lead Arranger, any Issuer or any other Bank 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 this Agreement and the
other Loan Documents.

     

    9.12  Successor Administrative
Agent.  The Administrative Agent may resign at any time
by giving written notice thereof to the Banks and the Company, such resignation
to be effective upon the appointment of a successor Administrative Agent or, if
no successor Administrative Agent has been appointed, 45 days after the retiring
Administrative Agent gives notice of its intention to resign.  The
Administrative Agent may be removed at any time with or without cause by written
notice received by the Administrative Agent from the Majority Banks, such
removal to be effective on the date specified by the Majority Banks; provided that the
Administrative Agent may not be removed unless the Administrative Agent (in its
individual capacity) and any affiliate thereof acting as Issuer is relieved of
all of its duties as Issuer pursuant to documentation reasonably satisfactory to
such Person on or prior to the date of such removal.  Upon any such
resignation or removal, the Majority Banks shall have the right to appoint, on
behalf of the Company and the Banks, a successor Administrative
Agent.  If no successor Administrative Agent shall have been so
appointed by the Majority Banks within thirty days after the resigning
Administrative Agent’s giving notice of its intention to resign, then the
resigning Administrative Agent may appoint, on behalf of the Company and the
Banks, a successor Administrative Agent.  Notwithstanding the previous
sentence, the Administrative Agent may at any time without the consent of the
Company or any Bank, appoint any of its Affiliates which is a commercial bank as
a successor Administrative Agent hereunder.  If the Administrative
Agent has resigned or been removed and no successor Administrative Agent has
been appointed, the Banks may perform all the duties of the Administrative Agent
hereunder and the Company shall make all payments in respect of the Obligations
to the applicable Bank and for all other purposes shall deal directly with the
Banks.  No successor Administrative Agent shall be deemed to be
appointed hereunder until such successor Administrative Agent has accepted the
appointment.  Any such successor Administrative Agent shall be a
commercial bank having capital and retained earnings of at least
$100,000,000.  Upon the acceptance of any appointment as
Administrative Agent hereunder by a successor Administrative Agent, such
successor Administrative Agent shall thereupon succeed to and become vested with
all the rights, powers, privileges and duties of the resigning or removed
Administrative Agent.  Upon the effectiveness of the resignation or
removal of the Administrative Agent, the resigning or removed Administrative
Agent shall be discharged from its duties and obligations hereunder and under
the Loan Documents.  After the effectiveness of the resignation or
removal of an Administrative Agent, the provisions of this Article IX shall
continue in effect for the benefit of such Administrative Agent in respect of
any actions taken or omitted to be taken by it while it was acting as the
Administrative Agent hereunder and under the other Loan Documents.  If
there is a successor to the Administrative Agent by merger, or the
Administrative Agent assigns its duties and obligations to an Affiliate pursuant
to this Section
9.12, then the term “Prime Rate” as used in this Agreement shall mean the
prime rate, base rate or other analogous rate of the new Administrative
Agent.

     

    9.13  Administrative Agent’s and
Co-Lead Arrangers’ Fees.  The Company agrees to pay to
the Administrative Agent and to the Co-Lead Arrangers, for their respective
accounts, the fees agreed to by the Company, the Administrative Agent and the
Co-Lead Arrangers pursuant to the letter agreement dated December 3, 2007, or as
otherwise agreed from time to time. 

     

    9.14  Delegation to
Affiliates.  The Company and the Banks agree that the
Administrative Agent may delegate any of its duties under this Agreement to any
of its Affiliates.  Any such Affiliate (and such Affiliate’s
directors, officers, agents and employees) which performs duties in connection
with this Agreement shall be entitled to the same benefits of the
indemnification, waiver and other protective provisions to which the
Administrative Agent is entitled under Articles VIII and
IX.

     

    9.15  Other
Agents.  No Co-Syndication Agent shall have any right,
power, obligation, liability, responsibility or duty under this Agreement other
than those applicable to all Banks as such.  Without limiting the
foregoing, no Co-Syndication Agent shall have or be deemed to have a fiduciary
relationship with any Bank.  Each Bank hereby makes the same
acknowledgments with respect to each Co-Syndication Agent as it makes with
respect to the Administrative Agent in Section
9.11.

     

    ARTICLE X

     

    MISCELLANEOUS

     

    10.01  Amendments and
Waivers.  No amendment or waiver of any provision of
this Agreement or any other Loan Document, and no consent with respect to any
departure by the Company therefrom, shall be effective unless the same shall be
in writing and signed by the Majority Banks (or by the Administrative Agent at
the written request of the Majority Banks) and the Company and acknowledged by
the Administrative Agent, and then any such waiver or consent shall be effective
only in the specific instance and for the specific purpose for which given;
provided that
no such waiver, amendment, or consent shall, unless in writing and signed by all
the Banks and the Company and acknowledged by the Administrative Agent, do any
of the following:

    (a)  increase
or extend the Commitment (except pursuant to Section 2.04(c)(B)),
or amend or modify the Pro Rata Share, of any Bank (or reinstate any Commitment
terminated pursuant to Section
8.02);

    (b)  postpone
or delay any date fixed by this Agreement or any other Loan Document for any
payment of principal, interest, fees or other amounts due to the Banks (or any
of them) hereunder or under any other Loan Document;

    (c)  reduce
the principal of, or the rate of interest specified herein on, any Loan, or
(subject to clause
(ii) below) any fees or other amounts payable hereunder or under any
other Loan Document;

    (d)  change
the percentage of the Commitments or of the aggregate unpaid principal amount of
the Loans which is required for the Banks or any of them to take any action
hereunder;

    (e)  amend
this Section, the definition of “Majority Banks,” Section 10.10, Article IV, Article IX or any
provision herein providing for consent or other action by all Banks;
or

    (f)  release
any funds from the LC Collateral Account, except to the extent that such release
is expressly permitted hereunder;

    and provided, further, that (i) no
amendment, waiver or consent shall, unless in writing and signed by the
Administrative Agent in addition to the Majority Banks or all the Banks, as the
case may be, affect the rights or duties of the Administrative Agent under this
Agreement or any other Loan Document, (ii) no amendment of any provision of this
Agreement relating to any Issuer shall be effective without the written consent
of such Issuer and (iii) the Fee Letter may be amended, or rights or privileges
thereunder waived, in a writing executed by the respective parties
thereto.

     

    10.02  Notices.  Except
as otherwise permitted by Section 2.10 with
respect to borrowing notices, all notices, requests and other communications to
any party hereunder shall be in writing (including electronic transmission,
facsimile transmission or similar writing) and shall be given to such party: (x)
in the case of the Company or the Administrative Agent, at its address or
facsimile number set forth in Schedule 10.02, (y)
in the case of any Bank, at its address or facsimile number set forth in Schedule 10.02 or (z)
in the case of any party, at such other address or facsimile number as such
party may hereafter specify for the purpose by notice to the Administrative
Agent and the Company.  Each such notice, request or other
communication shall be effective (i) if given by facsimile transmission, when
transmitted to the facsimile number specified in this Section and confirmation
of receipt is received, (ii) if given by mail, 72 hours after such communication
is deposited in the mails with first class postage prepaid, addressed as
aforesaid, or (iii) if given by any other means, when delivered (or, in the case
of electronic transmission, received) at the address specified in this Section;
provided that
notices to the Administrative Agent under Article II shall not
be effective until received.  The Company, the Administrative Agent
and any Bank may each change the address for service of notice upon it by a
notice in writing to the other parties hereto.

     

    10.03  No Waiver; Cumulative
Remedies.  The rights, powers, privileges and remedies
of the Administrative Agent, the Banks and the Issuers provided herein or in any
other Loan Document are cumulative and not exclusive of any right, power,
privilege or remedy provided by law or equity or under any other instrument,
document or agreement now existing or hereafter arising.  No failure
to exercise and no delay in exercising, on the part of the Administrative Agent,
any Bank or any Issuer, 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.

     

    10.04  Several Obligations;
Benefits of this Agreement.  The respective obligations
of the Banks hereunder are several and not joint and no Bank shall be the
partner or agent of any other (except to the extent to which the Administrative
Agent is authorized to act as such).  The failure of any Bank to
perform any of its obligations hereunder shall not relieve any other Bank from
any of its obligations hereunder.  This Agreement shall not be
construed so as to confer any right or benefit upon any Person other than the
parties to this Agreement and their respective successors and assigns; provided that the
parties hereto expressly agree that the Co-Lead Arrangers shall enjoy the
benefits of the provisions of Sections 9.11, 10.05 and 10.21 to the extent
specifically set forth therein and shall have the right to enforce such
provisions on its own behalf and in its own name to the same extent as if it
were a party to this Agreement.

     

    10.05  Expenses;
Indemnification.  (i) The Company shall reimburse the
Administrative Agent and the Co-Lead Arrangers for any reasonable costs,
internal charges and out-of-pocket expenses (including attorneys’ fees and time
charges of attorneys for the Administrative Agent, which attorneys may be
employees of the Administrative Agent) paid or incurred by the Administrative
Agent or the Co-Lead Arrangers in connection with the preparation, negotiation,
execution, delivery, syndication, distribution (including, without limitation,
via the internet), review, amendment, modification, and administration of the
Loan Documents.  The Company also agrees to reimburse the
Administrative Agent, each Co-Lead Arranger, each Issuer and each Bank for any
costs, internal charges and out-of-pocket expenses (including attorneys’ fees
and time charges of attorneys for the Administrative Agent, such Co-Lead
Arranger or such Bank) paid or incurred by the Administrative Agent, such
Co-Lead Arranger, such Issuer or such Bank in connection with the collection and
enforcement of the Loan Documents.

    (ii)  The
Company hereby further agrees to indemnify the Administrative Agent, each
Co-Lead Arranger, each Issuer, each Bank, their respective Affiliates, and each
of their directors, officers and employees against all losses, claims, damages,
penalties, judgments, liabilities and expenses (including, without limitation,
all expenses of litigation or preparation therefor whether or not the
Administrative Agent, any Co-Lead Arranger, any Issuer, any Bank or any
Affiliate is a party thereto) which any of them may pay or incur arising out of
or relating to this Agreement, the other Loan Documents, the transactions
contemplated hereby or the direct or indirect application or proposed
application of the proceeds of any Loan hereunder except to the extent that they
are determined in a final non-appealable judgment by a court of competent
jurisdiction to have resulted from the gross negligence or willful misconduct of
the party, or the party’s Affiliates, seeking indemnification.  The
obligations of the Company under this Section 10.05 shall
survive the termination of this Agreement.

     

    10.06  Marshalling; Payments Set
Aside.  None of the Administrative Agent, the Banks or
the Issuers shall be under any obligation to marshall any assets in favor of the
Company or any other Person or against or in payment of any or all of the
Obligations.  To the extent that the Company makes a payment to the
Administrative Agent, the Banks or the Issuers, or the Administrative Agent, the
Banks or the Issuers exercise their right of set-off, and such payment or the
proceeds of such set-off or any part thereof are subsequently invalidated,
declared to be fraudulent or preferential, set aside or required (including
pursuant to any settlement entered into by the Administrative Agent, such Bank
or such Issuer in its discretion) to be repaid to a trustee, receiver or any
other party, in connection with any Insolvency Proceeding or otherwise, then (a)
to the extent of such recovery the obligation or part thereof originally
intended to be satisfied shall be revived and continued in full force and effect
as if such payment had not been made or such set-off had not occurred, and (b)
each Bank severally agrees to pay to the Administrative Agent upon demand its
pro rata share of any amount so recovered from or repaid by the Administrative
Agent.

     

    10.07  Successors and
Assigns.  The terms and provisions of the Loan Documents
shall be binding upon and inure to the benefit of the Administrative Agent, the
Company, the Banks and the Issuers and their respective successors and assigns,
except that (i) the Company shall not have the right to assign its rights or
obligations under the Loan Documents and (ii) any assignment by any Bank must be
made in compliance with Section 10.08. The
parties to this Agreement acknowledge that clause (ii) of this
Section 10.07
relates only to absolute assignments and does not prohibit assignments creating
security interests, including, without limitation, (x) any pledge or assignment
by any Bank of all or any portion of its rights under this Agreement and any
Note to a Federal Reserve Bank or (y) in the case of a Bank which is a fund, any
pledge or assignment of all or any portion of its rights under this Agreement
and any Note to its trustee in support of its obligations to its trustee; provided that no such
pledge or assignment creating a security interest shall release the transferor
Bank from its obligations hereunder unless and until the parties thereto have
complied with the provisions of Section
10.08.  The Administrative Agent may treat the Person which
made any Loan or which holds any Note as the owner thereof for all purposes
hereof unless and until such Person complies with Section 10.08; provided that the
Administrative Agent may in its discretion (but shall not be required to) follow
instructions from the Person which made any Loan or which holds any Note to
direct payments relating to such Loan or Note to another Person.  Any
assignee of the rights to any Loan or any Note agrees by acceptance of such
assignment to be bound by all the terms and provisions of the Loan
Documents.  Any request, authority or consent of any Person, who at
the time of making such request or giving such authority or consent is the owner
of the rights to any Loan (whether or not a Note has been issued in evidence
thereof), shall be conclusive and binding on any subsequent holder or assignee
of the rights to such Loan.

     

    10.08  Participations; Assignments,
etc.  (a) Permitted Participants; Effect.  Any
Bank may, in the ordinary course of its business and in accordance with
applicable law, at any time sell to one or more banks or other entities (“Participants”)
participating interests in any Loan owing to such Bank, any Note held by such
Bank, any Commitment of such Bank or any other interest of such Bank under the
Loan Documents.  Upon any such sale by a Bank of participating
interests to a Participant, such Bank’s obligations under the Loan Documents
shall remain unchanged, such Bank shall remain solely responsible to the other
parties hereto for the performance of such obligations, such Bank shall remain
the owner of its Loans and the holder of any Note issued to it in evidence
thereof for all purposes under the Loan Documents, all amounts payable by the
Company under this Agreement shall be determined as if such Bank had not sold
such participating interests, and the Company and the Administrative Agent shall
continue to deal solely and directly with such Bank in connection with such
Bank’s rights and obligations under the Loan Documents.

    (b)  Voting
Rights.  Each Bank shall retain the sole right to approve,
without the consent of any Participant, any amendment, modification or waiver of
any provision of the Loan Documents other than any amendment, modification or
waiver which requires the unanimous consent of all Banks under Section
10.01.

    (c)  Benefit of
Setoff.  The Company agrees that each Participant shall be
deemed to have the right of setoff provided in Section 10.10 in
respect of its participating interest in amounts owing under the Loan Documents
to the same extent as if the amount of its participating interest were owing
directly to it as a Bank under the Loan Documents; provided that each
Bank shall retain the right of setoff provided in Section 10.10 with
respect to the amount of participating interests sold to each
Participant.  The Banks agree to share with each Participant, and each
Participant, by exercising the right of setoff provided in Section 10.10, agrees
to share with each Bank, any amount received pursuant to the exercise of its
right of setoff, such amounts to be shared in accordance with Section 10.10 as if
each Participant were a Bank.

    (d)  Permitted
Assignments.  Any Bank may, in the ordinary course of its
business and in accordance with applicable law, at any time assign to one or
more Eligible Assignees (“Purchasers”) all or
any part of its rights and obligations under the Loan Documents.  Any
assignment shall be made pursuant to a document substantially in the form of
Exhibit F or in
such other form as may be agreed to by the parties thereto.  The
consent of the Company and the Administrative Agent shall be required prior to
an assignment becoming effective with respect to a Purchaser which is not a Bank
or an Affiliate thereof; provided that if a
Default or an Event of Default has occurred and is continuing, the consent of
the Company shall not be required.  Such consent shall not be
unreasonably withheld or delayed.  Each such assignment with respect
to a Purchaser which is not a Bank or an Affiliate thereof shall (unless each of
the Company and the Administrative Agent otherwise consents) be in an amount not
less than the lesser of (i) $5,000,000 or (ii) the remaining amount of the
assigning Bank’s Commitment (calculated as at the date of such assignment) or
outstanding Loans (if such Commitment has been terminated).

    (e)  Effect; Effective
Date.  Upon (i) delivery to the Administrative Agent of a
notice of assignment, substantially in the form attached as Annex I to Exhibit F (a “Notice of
Assignment”), together with any consents required by Section 10.08(d), and
(ii) payment by the assigning Bank of a $4,000 fee to the Administrative Agent
for processing such assignment, such assignment shall become effective on the
effective date specified in such Notice of Assignment.  The Notice of
Assignment shall contain a representation by the Purchaser to the effect that
none of the consideration used to make the purchase of the Commitment and Loans
under the applicable assignment agreement constitutes “plan assets” as defined
under ERISA and that the rights and interests of the Purchaser in and under the
Loan Documents will not be “plan assets” under ERISA.  On and after
the effective date of such assignment, such Purchaser shall for all purposes be
a Bank party to this Agreement and any other Loan Document executed by or on
behalf of the Banks and shall have all the rights and obligations of a Bank
under the Loan Documents, to the same extent as if it were an original party
hereto, and no further consent or action by the Company, the Banks or the
Administrative Agent shall be required to release the transferor Bank with
respect to the percentage of the Aggregate Commitment and Loans assigned to such
Purchaser.  Upon the consummation of any assignment to a Purchaser
pursuant to this Section 10.08(e), the
transferor Bank, the Administrative Agent and the Company shall, if the
transferor Bank or the Purchaser desires that its Loans be evidenced by Notes,
make appropriate arrangements so that new Notes or, as appropriate, replacement
Notes are issued to such transferor Bank and new Notes or, as appropriate,
replacement Notes, are issued to such Purchaser, in each case in principal
amounts reflecting their respective Commitments, as adjusted pursuant to such
assignment.

    (f)  Dissemination of
Information.  The Company authorizes each Bank to disclose to
any Participant or Purchaser or any other Person acquiring an interest in the
Loan Documents by operation of law (each a “Transferee”) and any
prospective Transferee any and all information in such Bank’s possession
concerning the creditworthiness of the Company and its Subsidiaries; provided that each
Transferee and prospective Transferee agrees to be bound by Section 10.09 of this
Agreement.

    (g)  Tax
Treatment.  If any interest in any Loan Document is transferred
to any Transferee which is organized under the laws of any jurisdiction other
than the United States or any State thereof, the transferor Bank shall cause
such Transferee, concurrently with the effectiveness of such transfer, to comply
with the provisions of Section
3.05(d).

     

    10.09  Confidentiality.  Each
Bank agrees to take and to cause its Affiliates to take normal and reasonable
precautions and exercise due care to maintain the confidentiality of all
information identified as “confidential” or “secret” by the Company and provided
to it by the Company or any Subsidiary, or by the Administrative Agent on the
Company’s or such Subsidiary’s behalf, under this Agreement or any other Loan
Document, and neither it nor any of its Affiliates shall use any such
information other than in connection with or in enforcement of this Agreement
and the other Loan Documents or in connection with other business now or
hereafter existing or contemplated with the Company or any Subsidiary; except to
the extent such information (i) was or becomes generally available to the public
other than as a result of disclosure by the Bank, or (ii) was or becomes
available on a  non-confidential basis from a source other than the
Company, provided that such
source is not bound by a confidentiality agreement with the Company known to the
Bank; provided
that any Bank may disclose such information (A) at the request or pursuant to
any requirement of any Governmental Authority to which the Bank is subject or in
connection with an examination of such Bank by any such authority; (B) pursuant
to subpoena or other court process; (C) when required to do so in accordance
with the provisions of any applicable Requirement of Law; (D) to the extent
reasonably required in connection with any litigation or proceeding to which the
Administrative Agent, any Bank or their respective Affiliates may be party; (E)
to the extent reasonably required in connection with the exercise of any remedy
hereunder or under any other Loan Document; (F) to such Bank’s independent
auditors and other professional advisors; (G) to any Participant or Assignee,
actual or potential, provided that such
Person agrees in writing to keep such information confidential to the same
extent required of the Banks hereunder; (H) as to any Bank or its Affiliate, as
expressly permitted under the terms of any other document or agreement regarding
confidentiality to which the Company or any Subsidiary is party or is deemed
party with such Bank or such Affiliate; (I) to its Affiliates and to such
Affiliates’ independent auditors and other professional advisors who are advised
of the confidential nature of such information; and (J) to any direct or
indirect contractual counterparty to any swap or derivative transaction relating
to the Company and its obligations, provided that such
Person agrees in writing to keep such information confidential to the same
extent required of the Banks hereunder.  Notwithstanding anything
herein to the contrary, the Administrative Agent, each Issuer and each Bank may
disclose to any Person, without limitation of any kind, the U.S. tax treatment
and tax structure of the transactions contemplated hereby and all materials of
any kind (including opinions or other tax analyses) that are provided to the
Administrative Agent, any Issuer or any Bank relating to such U.S. tax treatment
and tax structure.

     

    10.10  Set-off; Ratable
Payments.  In addition to, and without limitation of,
any rights of the Banks under applicable law, if any Event of Default occurs and
is continuing, any and all deposits (including all account balances, whether
provisional or final and whether or not collected or available) and any other
Indebtedness at any time held or owing by any Bank or any Affiliate of any Bank
to or for the credit or account of the Company may be offset and applied toward
the payment of the Obligations owing to such Bank, whether or not the
Obligations, or any part hereof, shall then be due.  If any Bank,
whether by setoff or otherwise, has payment made to it upon its Loans or its
participations in Letters of Credit (other than payments received pursuant to
Section 3.01,
3.02, 3.04 or 3.05 and payments
made to any Issuer in respect of Reimbursement Obligations so long as the Banks
have not funded their participations therein) in a greater proportion than that
received by any other Bank, such Bank agrees, promptly upon demand, to purchase
a portion of the Outstanding Credit Exposures held by the other Banks so that
after such purchase each Bank will hold its Pro Rata Share of the Aggregate
Outstanding Credit Exposure.  If any Bank, whether in connection with
setoff or amounts which might be subject to setoff or otherwise, receives
collateral or other protection for its Obligations or such amounts which may be
subject to setoff, such Bank agrees, promptly upon demand, to take such action
necessary such that all Banks share in the benefits of such collateral ratably
in accordance with their respective Pro Rata Shares.  In case any such
payment is disturbed by legal process, or otherwise, appropriate further
adjustments shall be made. 

     

    10.11  Automatic Debits of
Fees.  With respect to any facility fee, utilization
fee, agency fee, arrangement fee, or other fee, or any other cost or expense
(including Attorney Costs) due and payable to the Administrative Agent, U.S.
Bank or any Co-Lead Arranger under the Loan Documents, the Company hereby
irrevocably authorizes the Administrative Agent and/or U.S. Bank to debit any
deposit account of the Company with Administrative Agent and/or U.S. Bank in an
amount such that the aggregate amount debited from all such deposit accounts
does not exceed such fee or other reasonable cost or expense.  If
there are insufficient funds in such deposit accounts to cover the amount of the
fee or other cost or expense then due, such debits will be reversed (in whole or
in part, in the Administrative Agent’s and/or U.S. Bank’s sole discretion) and
such amount not debited shall be deemed to be unpaid.  No such debit
under this Section shall be deemed a set-off.

     

    10.12  Notification of Addresses,
Lending Installations, Etc.  Each Bank shall
notify the Administrative Agent in writing of any changes in the address to
which notices to the Bank should be directed, of addresses of any Lending
Installation, of payment instructions in respect of all payments to be made to
it hereunder and of such other administrative information as the Administrative
Agent shall reasonably request.

     

    10.13  Counterparts.  This
Agreement may be executed in any number of separate counterparts, each of which,
when so executed, shall be deemed an original, and all of such counterparts
taken together shall be deemed to constitute but one and the same
instrument.

     

    10.14  Severability.  The
illegality or unenforceability of any provision of this Agreement or any
instrument or agreement required hereunder shall not in any way affect or impair
the legality or enforceability of the remaining provisions of this Agreement or
any instrument or agreement required hereunder.

     

    10.15  GOVERNING LAW AND
JURISDICTION.  (A)  THE LOAN DOCUMENTS (OTHER
THAN THOSE CONTAINING A CONTRARY EXPRESS CHOICE OF LAW PROVISION) SHALL BE
GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE INTERNAL LAW OF THE STATE OF
NEW YORK WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF LAW (OTHER THAN TITLE 14
OF ARTICLE 5 OF THE NEW YORK GENERAL OBLIGATIONS LAW); PROVIDED THAT THE
ADMINISTRATIVE AGENT AND THE BANKS SHALL RETAIN ALL RIGHTS ARISING UNDER FEDERAL
LAW.

    (B)  ANY LEGAL
ACTION OR PROCEEDING WITH RESPECT TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT
MAY BE BROUGHT IN THE COURTS OF THE STATE OF NEW YORK OR OF THE UNITED STATES
FOR THE SOUTHERN DISTRICT OF NEW YORK, AND BY EXECUTION AND DELIVERY OF THIS
AGREEMENT, EACH OF THE COMPANY, THE ADMINISTRATIVE AGENT, EACH ISSUER AND EACH
BANK CONSENTS, FOR ITSELF AND IN RESPECT OF ITS PROPERTY, TO THE NON-EXCLUSIVE
JURISDICTION OF THOSE COURTS.  EACH OF THE COMPANY, THE ADMINISTRATIVE
AGENT, EACH ISSUER AND EACH BANK IRREVOCABLY WAIVES ANY OBJECTION, INCLUDING ANY
OBJECTION TO THE LAYING OF VENUE OR BASED ON THE GROUNDS OF FORUM NON
CONVENIENS, WHICH IT MAY NOW OR HEREAFTER HAVE TO THE BRINGING OF ANY ACTION OR
PROCEEDING IN SUCH JURISDICTION IN RESPECT OF THIS AGREEMENT OR ANY DOCUMENT
RELATED HERETO.  THE COMPANY, THE ADMINISTRATIVE AGENT, EACH ISSUER
AND THE BANKS EACH WAIVE PERSONAL SERVICE OF ANY SUMMONS, COMPLAINT OR OTHER
PROCESS, WHICH MAY BE MADE BY ANY OTHER MEANS PERMITTED BY NEW YORK
LAW.

    (C)  NOTHING
HEREIN SHALL LIMIT THE RIGHT OF THE ADMINISTRATIVE AGENT, ANY ISSUER OR ANY BANK
TO BRING PROCEEDINGS AGAINST THE COMPANY IN THE COURTS OF ANY OTHER
JURISDICTION.  ANY JUDICIAL PROCEEDING BY THE COMPANY AGAINST THE
ADMINISTRATIVE AGENT, ANY ISSUER OR ANY BANK OR ANY AFFILIATE OF THE
ADMINISTRATIVE AGENT, ANY ISSUER OR ANY BANK INVOLVING, DIRECTLY OR INDIRECTLY,
ANY MATTER IN ANY WAY ARISING OUT OF, RELATED TO, OR CONNECTED WITH ANY LOAN
DOCUMENT SHALL BE BROUGHT ONLY IN A COURT IN NEW YORK, NEW YORK.

     

    10.16  WAIVER OF JURY
TRIAL.  THE COMPANY, THE BANKS, THE ISSUERS AND THE
ADMINISTRATIVE AGENT EACH WAIVE THEIR RESPECTIVE RIGHTS TO A TRIAL BY JURY OF
ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT OF OR RELATED TO THIS
AGREEMENT, THE OTHER LOAN DOCUMENTS, OR THE TRANSACTIONS CONTEMPLATED HEREBY OR
THEREBY, IN ANY ACTION, PROCEEDING OR OTHER LITIGATION OF ANY TYPE BROUGHT BY
ANY OF THE PARTIES AGAINST ANY OTHER PARTY OR ANY AGENT-RELATED PERSON,
PARTICIPANT OR ASSIGNEE, WHETHER WITH RESPECT TO CONTRACT CLAIMS, TORT CLAIMS,
OR OTHERWISE.  THE COMPANY, THE BANKS, THE ISSUERS AND THE
ADMINISTRATIVE AGENT EACH AGREE THAT ANY SUCH CLAIM OR CAUSE OF ACTION SHALL BE
TRIED BY A COURT TRIAL WITHOUT A JURY.  WITHOUT LIMITING THE
FOREGOING, THE PARTIES FURTHER AGREE THAT THEIR RESPECTIVE RIGHT TO A TRIAL BY
JURY IS WAIVED BY OPERATION OF THIS SECTION AS TO ANY ACTION, COUNTERCLAIM OR
OTHER PROCEEDING WHICH SEEKS, IN WHOLE OR IN PART, TO CHALLENGE THE VALIDITY OR
ENFORCEABILITY OF THIS AGREEMENT OR THE OTHER LOAN DOCUMENTS OR ANY PROVISION
HEREOF OR THEREOF.  THIS WAIVER SHALL APPLY TO ANY SUBSEQUENT
AMENDMENTS, RENEWALS, SUPPLEMENTS OR MODIFICATIONS TO THIS AGREEMENT AND THE
OTHER LOAN DOCUMENTS.

     

    10.17  Entire
Agreement.  This Agreement, together with the other Loan
Documents, embodies the entire agreement and understanding among the Company,
the Banks, the Issuers and the Administrative Agent, and supersedes all prior or
contemporaneous agreements and understandings of such Persons, verbal or
written, relating to the subject matter hereof and thereof (other than the Fee
Letter).

     

    10.18  Survival of
Representations.  All representations and warranties of
the Company contained in this Agreement shall survive the making of the Credit
Extensions herein contemplated.

     

    10.19  Governmental
Regulation.  Anything contained in this Agreement to the
contrary notwithstanding, no Bank shall be obligated to extend credit to the
Company in violation of any limitation or prohibition provided by any applicable
statute or regulation.

     

    10.20  Numbers of
Documents.  All statements, notices, closing documents,
and requests hereunder shall be furnished to the Administrative Agent with
sufficient counterparts so that the Administrative Agent may furnish one to each
of the Banks.

     

    10.21  Nonliability of
Banks.  The relationship between the Company on the one
hand and the Banks, the Issuers and the Administrative Agent on the other hand
shall be solely that of borrower and lender.  None of the
Administrative Agent, any Co-Lead Arranger, any Issuer or any Bank shall have
any fiduciary responsibilities to the Company.  None of the
Administrative Agent, any Co-Lead Arranger, any Issuer or any Bank undertakes
any responsibility to the Company to review or inform the Company of any matter
in connection with any phase of the Company’s business or
operations.  The Company agrees that neither the Administrative Agent,
any Co-Lead Arranger, any Issuer nor any Bank shall have liability to the
Company (whether sounding in tort, contract or otherwise) for losses suffered by
the Company in connection with, arising out of, or in any way related to, the
transactions contemplated and the relationship established by the Loan
Documents, or any act, omission or event occurring in connection therewith,
unless it is determined in a final non-appealable judgment by a court of
competent jurisdiction that such losses resulted from the gross negligence or
willful misconduct of the party from which recovery is
sought.  Neither the Administrative Agent, any Co-Lead Arranger, any
Issuer nor any Bank shall have any liability with respect to, and the Company
hereby waives, releases and agrees not to sue for, any special, indirect
consequential or punitive damages suffered by the Company in connection with,
arising out of, or in any way related to the Loan Documents or the transactions
contemplated thereby.

     

    10.22  USA Patriot Act
Notice.  Each Bank that is subject to the Act (as
hereinafter defined) and the Administrative Agent (for itself and not on behalf
of any Bank) hereby notifies the Company that pursuant to the requirements of
the USA Patriot Act (Title III of Pub. L. 107-56 (signed into law October 26,
2001)) (the “Act”), it is required
to obtain, verify and record information that identifies the Company, which
information includes the name and address of the Company and other information
that will allow such Bank or the Administrative Agent, as applicable, to
identify the Company in accordance with the Act.

     

    [SIGNATURES
BEGIN ON THE FOLLOWING PAGE]

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    IN
WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly
executed and delivered by their proper and duly authorized officers as of the
day and year first above written.

     

    CENTENNIAL
ENERGY HOLDINGS, INC.

    

    

    By:  /s/VERNON A.
RAILE

    Name:  Vernon
A. Raile

    Title:  Executive
Vice President, Treasurer

    and Chief Financial
Officer

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

     

    

    

    

    

    

    

    

    

    

    

    [This is
a signature page to the Centennial Energy Holdings, Inc.

    Credit
Agreement]

     

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
 

    U.S. BANK
NATIONAL ASSOCIATION,

    as
Administrative Agent, as an Issuer and as a Bank

    

    

    By:  /s/ CHRISTINE
DEAN

    Name:  Christine
Dean

    Title:  Vice
President

    

    

    

    

    

    

    

    

    

     

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    [This is
a signature page to the Centennial Energy Holdings, Inc.

    Credit
Agreement]

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    UNION
BANK OF CALIFORNIA, N.A.,

    as
Co-Syndication Agent and as a Bank

    

    

    By: /s/ ROBERT J.
COLE

    Name:  Robert
J. Cole

    Title:  Vice
President

    

    

    

     

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    [This is
a signature page to the Centennial Energy Holdings, Inc.

    Credit
Agreement]

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    ABN AMRO
BANK N.V., as Co-Syndication Agent and as a Bank

    

    

    By:  /s/ KRIS
GROSSHANS

    Name:
Kris Grosshans

    Title:  Managing
Director

    

    

    By:  /s/ ECE
BENNETT

    Name: Ece
Bennett

    Title:  Director

    

    

    

    

     

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    [This is
a signature page to the Centennial Energy Holdings, Inc.

    Credit
Agreement]

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    BANK OF
AMERICA, NATIONAL ASSOCIATION

    

    

    

    By:  /s/
SHELLEY A. MCGREGOR

    Name:  Shelley
A. McGregor

    Title:  Senior
Vice President

    

    

    

    

     

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    [This is
a signature page to the Centennial Energy Holdings, Inc.

    Credit
Agreement]

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    KEYBANK
NATIONAL ASSOCIATION

    

    

    

    By:  /s/ KEVEN D.
SMITH

    Name:  Keven
D. Smith

    Title:  Senior
Vice President

    

    

     

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    [This is
a signature page to the Centennial Energy Holdings, Inc.

    Credit
Agreement]

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    JPMORGAN
CHASE BANK, NATIONAL ASSOCIATION

    

    

    

    By:  /s/ HELEN D.
DAVIS

    Name:  Helen
D. Davis

    Title:  Vice
President

    

    

    

     

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    [This is
a signature page to the Centennial Energy Holdings, Inc.

    Credit
Agreement]

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    THE BANK
OF TOKYO-MITSUBISHI UFJ, LTD., NEW YORK BRANCH

    

    

    

    By:  /s/ CHI-CHENG
CHEN

    Name:  Chi-Cheng
Chen

    Title:  Authorized
Signatory

    

    

    

     

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    [This is
a signature page to the Centennial Energy Holdings, Inc.

    Credit
Agreement]

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    WELLS
FARGO BANK, NATIONAL ASSOCIATION

    

    

    

    By:  /s/ PATRICK
MCCUE

    Name:  Patrick
McCue

    Title:  Vice
President

    

    

     

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    [This is
a signature page to the Centennial Energy Holdings, Inc.

    Credit
Agreement]

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    CIBC,
INC.

    

    

    

    By:  /s/ GERRY
BEAUCLAIR

    Name:  Gerry
Beauclair

    Title:  Senior
Vice President

    

    

     

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    [This is
a signature page to the Centennial Energy Holdings, Inc.

    Credit
Agreement]

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    FIRST
INTERSTATE BANK

    

    

    

    By:  /s/ SUSAN M.
RIPLETT

    Name:  Susan
M. Riplett

    Title:  Vice
President

    

    

     

    

    

    

    

    

    

    

    

    

    

    

    

     

    

    

    

    

    

    

    

    

    

    [This is
a signature page to the Centennial Energy Holdings, Inc.

    Credit
Agreement]

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    

    UBS LOAN
FINANCE LLC

    

    

    

    By:  /s/ IRJA R.
OTSA

    Name:  Irja
R. Otsa

    Title:  Associated
Director

    

    By:  /s/ MARY E.
EVANS

    Name:  Mary
E. Evans

    Title:  Associated
Director

    

    

    

    

    

     

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    [This is
a signature page to the Centennial Energy Holdings, Inc.

    Credit
Agreement]

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     TORONTO
DOMINION (TEXAS) LLC

    

    

    

    By:  /s/ DEBBI L.
BRITO

    Name:  Debbi
L. Brito

    Title:  Authorized
Signatory

    

     

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

     

    

    

    

    [This is
a signature page to the Centennial Energy Holdings, Inc.

    Credit
Agreement]

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    WILLIAM
STREET LLC

    

    

    

    By:  /s/ MARK
WALTON

    Name:  Mark
Walton

    Title:  Authorized
Signatory

    

     

    

    

    

    

    

    

    

    

    

    

    

     

    

    

    

    

    

    

    

    

    [This is
a signature page to the Centennial Energy Holdings, Inc.

    Credit
Agreement]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00136-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00136-of-00352.parquet"}]]