Document:

Exhibit 10.1

Exhibit 10.1

FORM OF SUBSCRIPTION AGREEMENT

Cyclacel Pharmaceuticals, Inc.

200 Connell Drive

Suite 1500

Berkeley Heights, NJ 07922

Gentlemen:

The undersigned (the “Investor”) hereby confirms its agreement with Cyclacel Pharmaceuticals, Inc.,
a Delaware corporation (the “Company”) as follows:

1. This Subscription Agreement, including the Terms and Conditions For Purchase of Units
attached hereto as Annex I (collectively, (this “Agreement”) is made as of the date set forth below
between the Company and the Investor.

2. The Company has authorized the sale and issuance to certain investors of up to an aggregate
of 2,850,000 units (the “Units”), subject to adjustment by the Company’s Board of Directors, or a
committee thereof, each consisting of (i) one share (each a “Share,” collectively, the “Shares”) of
its common stock, par value $0.001 per share (the “Common Stock”) and (ii) one warrant (each, a
“Warrant,” collectively, the “Warrants”) to purchase 0.25 of one share of Common Stock and
exercisable for a period of five (5) years, in substantially the form attached hereto as
Exhibit B, for a purchase price of $2.51 per Unit (the “Purchase Price”). Units will not
be issued or certificated. The Shares and Warrants are immediately separable and will be issued
separately. The shares of Common Stock issuable upon exercise of the Warrants are referred to
herein as the “Warrant Shares” and, together with the Units, the Shares and the Warrants, are
referred to herein as the “Securities”).

3. The offering and sale of the Units (the “Offering”) are being made pursuant to (1) an
effective Registration Statement on Form S-3, No. 333-140034 (the “Registration Statement”) filed
by the Company with the Securities and Exchange Commission (the “Commission”) (including the
prospectus contained therein (the “Base Prospectus”), (2) if applicable, certain “free writing
prospectuses” (as that term is defined in Rule 405 under the Securities Act of 1933, as amended
(the “Securities Act”)), that have been or will be filed with the Commission and delivered to the
Investor on or prior to the date hereof (the “Issuer Free Writing Prospectus”), containing certain
supplemental information regarding the Units, the terms of the Offering and the Company and (3) a
Prospectus Supplement (the “Prospectus Supplement” and together with the Base Prospectus, the
“Prospectus”) containing certain supplemental information regarding the Securities and terms of the
Offering that has been or will be filed with the Commission and delivered to the Investor (or made
available to the Investor by the filing by the Company of an electronic version thereof with the
Commission).

4. The Company and the Investor agree that the Investor will purchase from the Company and the
Company will issue and sell to the Investor the Units set forth below for the aggregate purchase
price set forth below. The Units shall be purchased pursuant to the Terms and Conditions for
Purchase of Units attached hereto as Annex I and incorporated herein by this reference as
if fully set forth herein. The Investor acknowledges that the Offering is not being
underwritten by the placement agent (the “Placement Agent”) named in the Prospectus Supplement
and that there is no minimum offering amount.

 

 

 

5. The manner of settlement of the Shares included in the Units purchased by the Investor
shall be determined by such Investor as follows (check one):

	o	 	A. Delivery by crediting the account of the Investor’s prime broker (as specified by such
Investor on Exhibit A annexed hereto) with the Depository Trust Company (“DTC”) through its
Deposit/Withdrawal At Custodian (“DWAC”) system, whereby Investor’s prime broker shall
initiate a DWAC transaction on the Closing Date using its DTC participant identification
number, and released by American Stock Transfer & Trust Company, the Company’s transfer agent
(the “Transfer Agent”), at the Company’s direction. NO LATER THAN ONE (1) BUSINESS DAY AFTER
THE EXECUTION OF THIS AGREEMENT BY THE INVESTOR AND THE COMPANY, THE INVESTOR SHALL:

	 	(I)	 	DIRECT THE BROKER-DEALER AT WHICH THE ACCOUNT OR ACCOUNTS TO BE
CREDITED WITH THE SHARES ARE MAINTAINED TO SET UP A DWAC INSTRUCTING THE
TRANSFER AGENT TO CREDIT SUCH ACCOUNT OR ACCOUNTS WITH THE SHARES, AND

	 
	 	(II)	 	REMIT BY WIRE TRANSFER THE AMOUNT OF FUNDS EQUAL TO THE
AGGREGATE PURCHASE PRICE FOR THE UNITS BEING PURCHASED BY THE INVESTOR TO THE
FOLLOWING ACCOUNT:

ABA No.

Cyclacel Pharmaceuticals Inc.

Account No.  

Attention:

Phone:

—OR—

	o	 	B. Delivery versus payment (“DVP”) through DTC (i.e., on the
Closing Date, the Company shall issue Shares registered in
the Investor’s name and address as set forth below and
released by the Transfer Agent directly to the account(s)
at Roth Capital Partners, LLC (“Roth”) identified by the
Investor; upon receipt of such Shares, Roth shall promptly
electronically deliver such Shares to the Investor, and
simultaneously therewith payment shall be made by Roth by
wire transfer to the Company). NO LATER THAN ONE (1)
BUSINESS DAY AFTER THE EXECUTION OF THIS AGREEMENT BY THE
INVESTOR AND THE COMPANY, THE INVESTOR SHALL:

	 	(III)	 	NOTIFY ROTH OF THE ACCOUNT OR ACCOUNTS AT ROTH TO BE CREDITED
WITH THE SHARES BEING PURCHASED BY SUCH INVESTOR, AND

 

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	 	(IV)	 	CONFIRM THAT THE ACCOUNT OR ACCOUNTS AT ROTH TO BE CREDITED
WITH THE SHARES BEING PURCHASED BY THE INVESTOR HAVE A MINIMUM BALANCE EQUAL TO
THE AGGREGATE PURCHASE PRICE FOR THE UNITS BEING PURCHASED BY THE INVESTOR.

IT IS THE INVESTOR’S RESPONSIBILITY TO (A) MAKE THE NECESSARY WIRE TRANSFER OR CONFIRM THE
PROPER ACCOUNT BALANCE IN A TIMELY MANNER AND (B) ARRANGE FOR SETTLEMENT BY WAY OF DWAC OR DVP IN A
TIMELY MANNER. IF THE INVESTOR DOES NOT DELIVER THE AGGREGATE PURCHASE PRICE FOR THE UNITS OR DOES
NOT MAKE PROPER ARRANGEMENTS FOR SETTLEMENT IN A TIMELY MANNER, THE SHARES AND WARRANTS MAY NOT
BE DELIVERED AT CLOSING TO THE INVESTOR OR THE INVESTOR MAY BE EXCLUDED FROM THE CLOSING
ALTOGETHER.

6. The executed Warrants shall be delivered in accordance with the terms thereof.

7. The Investor represents that, except as set forth below, (a) it has had no position, office
or other material relationship within the past three years with the Company or persons known to it
to be affiliates of the Company, (b) it is not a member of the Financial Industry Regulatory
Authority, Inc. (“FINRA”) or an Associated Person (as such term is defined under the FINRA’s NASD
Membership and Registration Rules Section 1011) as of the Closing, and (c) neither the Investor nor
any group of Investors (as identified in a public filing made with the Commission) of which the
Investor is a part in connection with the Offering, acquired, or obtained the right to acquire, 20%
or more of the Common Stock (or securities convertible into or exercisable for Common Stock) or the
voting power of the Company on a post-transaction basis. Exceptions:

 

(If no exceptions, write “none.” If left blank, response will be deemed to be “none.”)

8. The Investor represents that it has received (or otherwise had made available to it by the
filing by the Company of an electronic version thereof with the Commission) the Base Prospectus,
dated February 12, 2007, which is a part of the Company’s Registration Statement, the documents
incorporated by reference therein and any free writing prospectus (collectively, the “Disclosure
Package”), prior to or in connection with the receipt of this Agreement. The Investor acknowledges
that, prior to the delivery of this Agreement to the Company, the Investor will receive certain
additional information regarding the Offering, including pricing information (the “Offering
Information”). Such information may be provided to the Investor by any means permitted under the
Securities Act, including the Prospectus Supplement, a free writing prospectus and oral
communications.

 

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9. No offer by the Investor to buy Units will be accepted and no part of the Purchase Price
will be delivered to the Company until the Investor has received the Offering Information and the
Company has accepted such offer by countersigning a copy of this Agreement, and any such offer may
be withdrawn or revoked, without obligation or commitment of any kind, at any
time prior to the Company (or Roth on behalf of the Company) sending (orally, in writing or by
electronic mail) notice of its acceptance of such offer. An indication of interest will involve no
obligation or commitment of any kind until the Investor has been delivered the Offering Information
and this Agreement is accepted and countersigned by or on behalf of the Company.

10. The Company acknowledges that the only material, non-public information relating to the
Company or its subsidiaries that the Company, its employees or agents has provided to the Investor
in connection with the Offering prior to the date hereof is the existence of the Offering.

11. For so long as any Warrants remain outstanding, the Company shall not, in any manner,
issue or sell any rights, warrants or options to subscribe for or purchase Common Stock that are
directly or indirectly convertible into or exchangeable for Common Stock at a price which resets as
a function of market price of the Common Stock at the time of such exercise, exchange or
conversion.

 

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Number of Units:                                        

Purchase Price Per Unit: $2.51

Aggregate Purchase Price: $                                        

Number of Warrant Shares (Equal to Number of Units multiplied by 0.25 and rounded down to the
nearest whole number):                                                            

Please confirm that the foregoing correctly sets forth the agreement between us by signing in
the space provided below for that purpose.

	 	 	 	 	 	 	 	 	 
	 	 	Dated as of: January 11, 2010	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 
	 	 	INVESTOR	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	By:	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	Print Name:	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	Title:	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	Address:	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 

Agreed and Accepted

this 11th day of January, 2010:

CYCLACEL PHARMACEUTICALS, INC.

	 	 	 	 	 
	By:

	 	 
 

Title:
	 	 

 

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ANNEX I

TERMS AND CONDITIONS FOR PURCHASE OF UNITS

1. Authorization and Sale of the Units. Subject to the terms and conditions of this
Agreement, the Company has authorized the sale of the Units.

2. Agreement to Sell and Purchase the Units; Placement Agent.

2.1 At the Closing (as defined in Section 3.1), the Company will sell to the Investor,
and the Investor will purchase from the Company, upon the terms and conditions set forth herein,
the number of Units set forth on the last page of the Agreement to which these Terms and Conditions
for Purchase of Units are attached as Annex I (the “Signature Page”) for the aggregate
purchase price therefor set forth on the Signature Page.

2.2 The Company proposes to enter into substantially this same form of Subscription Agreement
with certain other investors (the “Other Investors”) and expects to complete sales of Units to
them. The Investor and the Other Investors are hereinafter sometimes collectively referred to as
the “Investors,” and this Agreement and the Subscription Agreements executed by the Other Investors
are hereinafter sometimes collectively referred to as the “Agreements.”

2.3 Investor acknowledges that the Company has agreed to pay Roth Capital Partners, LLC (the
“Placement Agent”) a fee (the “Placement Fee”) and certain expenses in respect of the sale of Units
to the Investor.

2.4 The Company has entered into a Placement Agent Agreement, dated the date hereof, (the
“Placement Agreement”), with the Placement Agent that contains certain representations, warranties,
covenants and agreements of the Company that may be relied upon by the Investor, which shall be a
third party beneficiary thereof. The Company confirms that neither it nor any other Person acting
on its behalf has provided the Investor or their agents or counsel with any information that
constitutes or could reasonably be expected to constitute material, nonpublic information, except
as will be disclosed in the Prospectus and/or in the Company’s Form 8-K to be filed with the
Commission in connection with the Offering. The Company understands and confirms that the Investor
will rely on the foregoing representations in effecting transactions in securities of the Company.

3. Closings and Delivery of the Units and Funds.

3.1 Closing. The completion of the purchase and sale of the Units (the “Closing”)
shall occur at a place and time (the “Closing Date”) to be specified by the Company and the
Placement Agent, and of which the Investors will be notified in advance by the Placement Agent, in
accordance with Rule 15c6-l promulgated under the Securities Exchange Act of 1934, as amended (the
“Exchange Act”). At the Closing, (a) the Company shall cause American Stock Transfer & Trust
Company, the Company’s “Transfer Agent”, to deliver to the Investor the number of Shares set forth
on the Signature Page registered in the name of the Investor or, if so indicated on the Investor
Questionnaire attached hereto as Exhibit A, in the name of a nominee designated by the
Investor, (b) the Company shall cause to be delivered to the Investor one Warrant for the number of
Warrant Shares set forth on the Signature Page and (c) the aggregate
purchase price for the Units being purchased by the Investor will be delivered by or on behalf
of the Investor to the Company.

 

 

 

3.2 Conditions to the Obligations of the Parties.

(a) Conditions to the Company’s Obligations. The Company’s obligation to issue and
sell the Units to the Investor shall be subject to: (i) the receipt by the Company of the purchase
price for the Units being purchased hereunder as set forth on the Signature Page and (ii) the
accuracy of the representations and warranties made by the Investor and the fulfillment of those
undertakings of the Investor to be fulfilled prior to the Closing Date.

(b) Conditions to the Investor’s Obligations. The Investor’s obligation to purchase
the Units will be subject to the accuracy of the representations and warranties made by the Company
and the fulfillment of those undertakings of the Company to be fulfilled prior to the Closing Date,
including without limitation, those contained in the Placement Agreement, and to the condition that
the Placement Agent shall not have: (a) terminated the Placement Agreement pursuant to the terms
thereof or (b) determined that the conditions to the closing in the Placement Agreement have not
been satisfied. The Investor’s obligations are expressly not conditioned on the purchase by any or
all of the Other Investors of the Units that they have agreed to purchase from the Company. The
Investor understands and agrees that, in the event that the Placement Agent in its sole discretion
determines that the conditions to closing in the Placement Agreement have not been satisfied or if
the Placement Agreement may be terminated for any other reason permitted by such Placement
Agreement, then the Placement Agent may, but shall not be obligated to, terminate such Agreement,
which shall have the effect of terminating this Subscription Agreement pursuant to Section
14 below.

3.3 Delivery of Funds.

(a) DWAC Delivery. If the Investor elects to settle the Shares purchased by
such Investor through DTC’s Deposit/Withdrawal at Custodian (“DWAC”) delivery system, no
later than one (1) business day after the execution of this Agreement by the Investor and
the Company, the Investor shall remit by wire transfer the amount of funds equal to the
aggregate purchase price for the Units being purchased by the Investor to the following
account designated by the Company:

ABA No.

Cyclacel Pharmaceuticals Inc.

Account No.

Attention:

Phone:

 

(b) Delivery Versus Payment through The Depository Trust Company. If the
Investor elects to settle the Shares purchased by such Investor by delivery versus payment
through DTC, no later than one (1) business day after the execution of this Agreement by
the Investor and the Company, the Investor shall confirm that the account or accounts at
the Placement Agent to be credited with the Units being
purchased by the Investor have a minimum balance equal to the aggregate purchase price
for the Units being purchased by the Investor.

 

 

 

3.4 Delivery of Shares.

(a) DWAC Delivery. If the Investor elects to settle the Shares purchased by such
Investor through DTC’s DWAC delivery system, no later than one (1) business day after the
execution of this Agreement by the Investor and the Company, the Investor shall direct the
broker-dealer at which the account or accounts to be credited with the Shares being purchased by
such Investor are maintained, which broker/dealer shall be a DTC participant, to set up a DWAC
instructing the Transfer Agent to credit such account or accounts with the Shares. Such DWAC
instruction shall indicate the settlement date for the deposit of the Shares, which date shall be
provided to the Investor by the Placement Agent. Upon the closing of the Offering, the Company
shall direct the Transfer Agent to credit the Investor’s account or accounts with the Shares
pursuant to the information contained in the DWAC.

(b) Delivery Versus Payment through The Depository Trust Company. If the Investor
elects to settle the Shares purchased by such Investor by delivery versus payment through DTC,
no later than one (1) business day after the execution of this Agreement by the Investor and
the Company, the Investor shall notify the Placement Agent of the account or accounts at the
Placement Agent to be credited with the Shares being purchased by such Investor. On the Closing
Date, the Company shall deliver the Shares to the Investor through DTC directly to the account(s)
at the Placement identified by Investor and simultaneously therewith payment shall be made by the
Placement Agent by wire transfer to the Company.

4. Representations, Warranties and Covenants of the Investor.

The Investor acknowledges, represents and warrants to, and agrees with, the Company and the
Placement Agent that:

4.1 The Investor (a) is knowledgeable, sophisticated and experienced in making, and is
qualified to make decisions with respect to, investments in securities presenting an investment
decision like that involved in the purchase of the Units, including investments in securities
issued by the Company and investments in comparable companies, (b) has answered all questions on
the Signature Page and the Investor Questionnaire and the answers thereto are true and correct
as of the date hereof and will be true and correct as of the Closing Date and (c) in connection
with its decision to purchase the number of Units set forth on the Signature Page, has received
and is relying only upon the Disclosure Package and the documents incorporated by reference
therein and the Offering Information.

4.2 (a) No action has been or will be taken in any jurisdiction outside the United States
by the Company or the Placement Agent that would permit an offering of the Units, or possession
or distribution of offering materials in connection with the issue of the Securities in any
jurisdiction outside the United States where action for that purpose is required, (b) if the
Investor is outside the United States, it will comply with all applicable laws and regulations
in each foreign jurisdiction in which it purchases, offers, sells or delivers Securities or has
in its possession or distributes any offering material, in all cases at its own
expense and (c) the Placement Agent is not authorized to make and has not made any
representation, disclosure or use of any information in connection with the issue, placement,
purchase and sale of the Units, except as set forth or incorporated by reference in the Base
Prospectus, the Prospectus Supplement or any free writing prospectus.

 

 

 

4.3 (a) The Investor has full right, power, authority and capacity to enter into this
Agreement and to consummate the transactions contemplated hereby and has taken all necessary
action to authorize the execution, delivery and performance of this Agreement, and (b) this
Agreement constitutes a valid and binding obligation of the Investor enforceable against the
Investor in accordance with its terms, except as enforceability may be limited by applicable
bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ and
contracting parties’ rights generally and except as enforceability may be subject to general
principles of equity (regardless of whether such enforceability is considered in a proceeding in
equity or at law) and except as to the enforceability of any rights to indemnification or
contribution that may be violative of the public policy underlying any law, rule or regulation
(including any federal or state securities law, rule or regulation).

4.4 The Investor understands that nothing in this Agreement, the Prospectus, the Disclosure
Package, the Offering Information or any other materials presented to the Investor in connection
with the purchase and sale of the Units constitutes legal, tax or investment advice. The
Investor has consulted such legal, tax and investment advisors and made such investigation as
it, in its sole discretion, has deemed necessary or appropriate in connection with its purchase
of Units. The Investor also understands that there is no established public trading market for
the Warrants being offered in the Offering, and that the Company does not expect such a market
to develop. In addition, the Company does not intend to apply for listing of the Warrants on any
securities exchange. The Investor understands that without an active market, the liquidity of
the Warrants will be limited.

4.5 The Investor will maintain the confidentiality of all information acquired as a result
of the transactions contemplated hereby prior to the public disclosure of that information by
the Company in accordance with Section 13 of this Annex.

4.6 Since the time at which the Placement Agent first contacted such Investor about the
Offering, the Investor has not disclosed any information regarding the Offering to any third
parties (other than its legal, accounting and other advisors) and has not engaged in any
purchases or sales of the securities of the Company (including, without limitation, any Short
Sales (as defined herein) involving the Company’s securities). The Investor covenants that it
will not engage in any purchases or sales of the securities of the Company (including Short
Sales) prior to the time that the transactions contemplated by this Agreement are publicly
disclosed. The Investor agrees that it will not use any of the Securities acquired pursuant to
this Agreement to cover any short position in the Common Stock if doing so would be in violation
of applicable securities laws. For purposes hereof, “Short Sales” include, without limitation,
all “short sales” as defined in Rule 200 promulgated under Regulation SHO under the Exchange
Act, whether or not against the box, and all types of direct and indirect stock pledges, forward
sales contracts, options, puts, calls, short sales, swaps, “put equivalent positions” (as
defined in Rule 16a-1(h) under the Exchange Act) and similar arrangements
(including on a total return basis), and sales and other transactions through non-U.S.
broker dealers or foreign regulated brokers.

 

 

 

5. Survival of Representations, Warranties and Agreements; Third Party Beneficiary.
Notwithstanding any investigation made by any party to this Agreement or by the Placement Agent,
all covenants, agreements, representations and warranties made by the Company and the Investor
herein will survive the execution of this Agreement, the delivery to the Investor of the Shares and
Warrants being purchased and the payment therefor. The Placement Agent shall be a third party
beneficiary with respect to the representations, warranties and agreements of the Investor in
Section 4 hereof.

6. Notices. All notices, requests, consents and other communications hereunder will be in
writing, will be mailed (a) if within the domestic United States by first-class registered or
certified airmail, or nationally recognized overnight express courier, postage prepaid, or by
facsimile or (b) if delivered from outside the United States, by International Federal Express or
facsimile, and will be deemed given (i) if delivered by first-class registered or certified mail
domestic, three business days after so mailed, (ii) if delivered by nationally recognized overnight
carrier, one business day after so mailed, (iii) if delivered by International Federal Express, two
business days after so mailed and (iv) if delivered by facsimile, upon electronic confirmation of
receipt and will be delivered and addressed as follows:

(a) if to the Company, to:

Cyclacel Pharmaceuticals, Inc.

200 Connell Drive, Suite 1500

Berkeley Heights, NJ 07922

Attention: Spiro Rombotis

Facsimile: (866) 271-3466

with a copy (which shall not constitute notice) to:

Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C.

The Chrysler Center

666 Third Avenue

New York, New York 10017
Attention: Joel I. Papernik, Esq.

Facsimile: (212) 983-3115

(b) if to the Investor, at its address on the Signature Page hereto, or at such other
address or addresses as may have been furnished to the Company in writing.

7. Changes. This Agreement may not be modified or amended except pursuant to an instrument in
writing signed by the Company and the Investor.

8. Headings. The headings of the various sections of this Agreement have been inserted for
convenience of reference only and will not be deemed to be part of this Agreement.

 

 

 

9. Severability. In case any provision contained in this Agreement should be invalid, illegal
or unenforceable in any respect, the validity, legality and enforceability of the remaining
provisions contained herein will not in any way be affected or impaired thereby.

10. Governing Law. This Agreement will be governed by, and construed in accordance with, the
internal laws of the State of New York, without giving effect to the principles of conflicts of law
that would require the application of the laws of any other jurisdiction.

11. Counterparts. This Agreement may be executed in two or more counterparts, each of which
will constitute an original, but all of which, when taken together, will constitute but one
instrument, and will become effective when one or more counterparts have been signed by each party
hereto and delivered to the other parties. The Company and the Investor acknowledge and agree that
the Company shall deliver its counterpart to the Investor along with the Prospectus Supplement (or
the filing by the Company of an electronic version thereof with the Commission).

12. Confirmation of Sale. The Investor acknowledges and agrees that such Investor’s receipt
of the Company’s signed counterpart to this Agreement, together with the Prospectus Supplement (or
the filing by the Company of an electronic version thereof with the Commission), shall constitute
written confirmation of the Company’s sale of Units to such Investor.

13. Press Release. The Company and the Investor agree that the Company shall (a) prior to the
opening of the financial markets in New York City on January 11, 2010 issue a press release
announcing the Offering and disclosing all material information regarding the Offering and (b) as
promptly as practicable on January 11, 2010 file a current report on Form 8-K with the Securities
and Exchange Commission including, but not limited to, a form of this Agreement and forms of
Warrant as exhibits thereto.

14. Termination. In the event that the Placement Agreement is terminated by the Placement
Agent pursuant to the terms thereof, this Agreement shall terminate without any further action on
the part of the parties hereto.

15. Lock-Up; Participation Right.

(a) For a period of ten (10) Business Days (as defined in the Warrant) following the
execution of this Agreement, the Company will not, without the prior written consent of the
Investor, directly or indirectly offer, sell, assign, transfer, pledge, contract to sell, or
otherwise dispose of, any shares of Common Stock or any securities convertible into or
exercisable or exchangeable for Common Stock, other than: (i) the Company’s sale of the
Units pursuant to the Offering; (ii) the issuance of restricted Common Stock or options to
acquire Common Stock pursuant to the Company’s employee benefit plans, qualified stock
option plans or other employee compensation plans as such plans are in existence on the date
hereof and described in the Prospectus; (iii) the issuance of Common Stock pursuant to the
valid exercises of options, warrants or rights outstanding on the
date hereof; and (iv) the
issuance of Common Stock pursuant to the valid exercise of the
Warrants (collectively, “Excluded
Issuances”).

 

 

 

(b) 

For a period of 35 days from the date hereof
(the “Participation Period”), the Investor shall have the right to participate
in any subsequent offering (a “Subsequent Financing”) of Common Stock or securities
convertible into, exercisable or exchangeable for, or otherwise representing the right to acquire
shares of Common Stock (“Common Stock Equivalents”),
other than an Excluded Issuance, as provided herein. At least twelve hours
prior to the execution of definitive documentation for a Subsequent Financing,
the Company shall deliver to the Investor a written notice of its intention to
effect a Subsequent Financing (“Pre-Notice”), which Pre-Notice shall
ask the Investor if it wants to review the details of such financing (such additional notice,
a “Subsequent Financing Notice”). Upon the written request of the Investor,
 and only upon a request by the Investor, for a Subsequent Financing Notice, the Company shall
promptly, but no later two hours after the receipt of such request, deliver a Subsequent Financing
Notice to the Investor. Such request shall be delivered to the Company by the Investor not more than
four hours after its receipt of the Pre-Notice; provided, however that if such four-hour period would
include a period when the Investor is unable to respond due to a religious observance, then the four-hour
period shall be deemed to have commenced upon the termination of such religious observance. The Subsequent
Financing Notice shall describe in reasonable detail the proposed terms of such Subsequent Financing, including
a description of the material terms of any Common Stock Equivalents to be offered, and the expected
amount of gross proceeds of such Subsequent Financing (the “Subsequent Financing Gross Proceeds”).
The Investor shall notify the Company in writing within four hours after its receipt of the Subsequent Financing Notice
of its willingness to participate in the Subsequent Financing on the terms described in the Subsequent Financing Notice,
 subject to completion of mutually acceptable documentation; provided, however that if such four-hour period would include
 a period when the Investor is unable to respond due to a religious observance, then the four-hour period shall be deemed
to have commenced upon the termination of such religious observance. If the Investor fails to timely respond to a
Pre-Notice or Subsequent Financing Notice, the Investor shall have no right to participate in the Subsequent Financing.
In the event that the Investor timely notifies
the Company that it wishes to participate in the Subsequent Financing, the Investor shall
have the right to participate in the Subsequent Financing in an amount not to exceed the
result obtained by multiplying its Pro Rata Portion (as defined below) by 50% of the
Subsequent Financing Gross Proceeds. As used herein, “Pro Rata Portion” equals the ratio
(expressed as a fraction) of (x) the aggregate purchase price of the Units purchased by the
Investor pursuant to this Agreement (the “Subscription Amount”) and (y) the aggregate sum of
all of the Subscription Amounts of all investors participating in the Offering (the
“Participating Investors”). The Company shall have the right to sell any amount of the
Subsequent Financing not purchased by the Investor and the Participating Investors to such
investors as it may determine in its sole discretion; provided, however, that any such sales
shall be on terms no more favorable to the investors than those described in the Subsequent
Financing Notice. Notwithstanding the delivery of any Pre-Notice or Subsequent Financing
Notice, the Company shall have the right to terminate or delay the Subsequent Financing as
it may determine in its sole discretion. The Investor acknowledges and agrees that, upon
its receipt of a Subsequent Financing Notice, the Investor shall be deemed to be in material
non-public information regarding the Company and agrees to hold such information in
confidence and not to disclose such information to any other person and not to effect any
transactions in the Common Stock until the earlier of (i) the public announcement of the
Subsequent Financing or (ii) the receipt of written notice from the Company that it has
abandoned the Subsequent Financing (which notice shall be given promptly following a
determination by the Company not to proceed with a Subsequent Financing).exv10w1

EXHIBIT
10.1

 

 

CREDIT AGREEMENT

among

DOLE FOOD COMPANY, INC.,

SOLVEST, LTD.,

VARIOUS LENDING INSTITUTIONS,

DEUTSCHE BANK AG NEW YORK BRANCH,

as Administrative Agent and as Deposit Bank,

BANC OF AMERICA SECURITIES LLC,

as Syndication Agent,

and

THE BANK OF NOVA SCOTIA

and

RABOBANK INTERNATIONAL,

as Co-Documentation Agents

Dated as of March 28, 2003,

Amended and Restated as of April 18, 2005

and further Amended and Restated as of April 12, 2006,

as amended on March 18, 2009

as amended on October 26, 2009

 

DEUTSCHE BANK SECURITIES INC.,

as Lead Arranger and Sole Book Runner

 

 

 

 

 

TABLE OF CONTENTS

	 	 	 	 	 	 	 
	 	 	 	 	Page	 
	 
	 	 	 	 	 	 
	Section 1.

	 	Amount and Terms of Credit
	 	 	1	 
	1.01

	 	Commitments
	 	 	1	 
	1.02

	 	Minimum Borrowing Amounts, etc
	 	 	4	 
	1.03

	 	Notice of Borrowing
	 	 	4	 
	1.04

	 	Disbursement of Funds
	 	 	5	 
	1.05

	 	Notes
	 	 	5	 
	1.06

	 	Conversions
	 	 	7	 
	1.07

	 	Pro Rata Borrowings
	 	 	8	 
	1.08

	 	Interest
	 	 	8	 
	1.09

	 	Interest Periods
	 	 	9	 
	1.10

	 	Increased Costs; Illegality; etc
	 	 	10	 
	1.11

	 	Compensation
	 	 	13	 
	1.12

	 	Change of Lending Office
	 	 	14	 
	1.13

	 	Replacement of Lenders
	 	 	15	 
	1.14

	 	Special Provisions Applicable to Lenders Upon the Occurrence of a Sharing Event
	 	 	16	 
	1.15

	 	Incremental Term Loan Commitments
	 	 	19	 
	 
	 	 	 	 	 	 
	Section 2.

	 	Letters of Credit; Bank Guaranties; Etc.
	 	 	22	 
	 
	 	 	 	 	 	 
	Section 2A.

	 	Letters of Credit
	 	 	22	 
	2A.01

	 	Letters of Credit
	 	 	22	 
	2A.02

	 	Minimum Stated Amount
	 	 	24	 
	2A.03

	 	Letter of Credit Requests
	 	 	24	 
	2A.04

	 	Letter of Credit Participations
	 	 	25	 
	2A.05

	 	Agreement to Repay Letter of Credit Drawings
	 	 	27	 
	2A.06

	 	Increased Costs
	 	 	29	 
	 
	 	 	 	 	 	 
	Section 2B.

	 	Bank Guaranties
	 	 	30	 
	2B.01

	 	Bank Guaranties
	 	 	30	 
	2B.02

	 	Minimum Face Amount
	 	 	31	 
	2B.03

	 	Bank Guaranty Requests
	 	 	32	 
	2B.04

	 	Bank Guaranty Participations
	 	 	32	 
	2B.05

	 	Agreement to Repay Bank Guaranty Payments
	 	 	35	 
	2B.06

	 	Increased Costs
	 	 	36	 
	2B.07

	 	Cash Collateralization
	 	 	37	 
	 
	 	 	 	 	 	 
	Section 2C.

	 	Special Provisions
	 	 	37	 
	2C.01

	 	Credit-Linked Deposit Account
	 	 	37	 
	2C.02

	 	European Monetary Union
	 	 	39	 

-i-

 

	 	 	 	 	 	 	 
	 	 	 	 	Page	 
	 
	2C.03

	 	Special Provisions Regarding Non-Dollar Denominated Letters of Credit and
Non-Dollar Denominated Bank Guaranties
	 	 	40	 
	2C.04

	 	Special Provisions Regarding Return Of Credit-Linked Deposits
	 	 	41	 
	 
	 	 	 	 	 	 
	Section 3.

	 	Fees; Commitments
	 	 	41	 
	3.01

	 	Fees
	 	 	41	 
	3.02

	 	Voluntary Termination or Reduction of Commitments and Adjustments of Commitments
	 	 	44	 
	3.03

	 	Mandatory Reduction of Commitments
	 	 	46	 
	 
	 	 	 	 	 	 
	Section 4.

	 	Prepayments; Repayments; Taxes
	 	 	47	 
	4.01

	 	Voluntary Prepayments
	 	 	47	 
	4.02

	 	Mandatory Repayments and Commitment Reductions
	 	 	49	 
	4.03

	 	Method and Place of Payment
	 	 	57	 
	4.04

	 	Net Payments
	 	 	58	 
	 
	 	 	 	 	 	 
	Section 5.

	 	[Reserved]
	 	 	59	 
	 
	 	 	 	 	 	 
	Section 6.

	 	Conditions Precedent to All Credit Events
	 	 	60	 
	6.01

	 	No Default; Representations and Warranties
	 	 	60	 
	6.02

	 	Notice of Borrowing; Letter of Credit Request; etc
	 	 	60	 
	6.03

	 	Incremental Term Loans
	 	 	60	 
	 
	 	 	 	 	 	 
	Section 7.

	 	Representations and Warranties
	 	 	61	 
	7.01

	 	Company Status
	 	 	61	 
	7.02

	 	Company Power and Authority
	 	 	61	 
	7.03

	 	No Violation
	 	 	61	 
	7.04

	 	Litigation
	 	 	62	 
	7.05

	 	Use of Proceeds; Margin Regulations
	 	 	63	 
	7.06

	 	Governmental Approvals
	 	 	63	 
	7.07

	 	Investment Company Act
	 	 	63	 
	7.08

	 	Public Utility Holding Company Act
	 	 	63	 
	7.09

	 	True and Complete Disclosure
	 	 	63	 
	7.10

	 	Financial Condition; Financial Statements
	 	 	64	 
	7.11

	 	Security Interests
	 	 	65	 
	7.12

	 	Compliance with ERISA
	 	 	65	 
	7.13

	 	Capitalization
	 	 	67	 
	7.14

	 	Subsidiaries
	 	 	67	 
	7.15

	 	Intellectual Property, etc
	 	 	68	 
	7.16

	 	Compliance with Statutes; Agreements, etc
	 	 	68	 
	7.17

	 	Environmental Matters
	 	 	68	 
	7.18

	 	Properties
	 	 	69	 
	7.19

	 	Labor Relations
	 	 	69	 
	7.20

	 	Tax Returns and Payments
	 	 	70	 

-ii-

 

	 	 	 	 	 	 	 
	 	 	 	 	Page	 
	 
	7.21

	 	Scheduled Existing Indebtedness
	 	 	70	 
	7.22

	 	Insurance
	 	 	71	 
	7.23

	 	Transaction
	 	 	71	 
	7.24

	 	Special Purpose Corporations
	 	 	71	 
	7.25

	 	Subordination
	 	 	71	 
	 
	 	 	 	 	 	 
	Section 8.

	 	Affirmative Covenants
	 	 	72	 
	8.01

	 	Information Covenants
	 	 	72	 
	8.02

	 	Books, Records and Inspections
	 	 	77	 
	8.03

	 	Insurance
	 	 	77	 
	8.04

	 	Payment of Taxes
	 	 	78	 
	8.05

	 	Existence; Franchises
	 	 	78	 
	8.06

	 	Compliance with Statutes; etc
	 	 	78	 
	8.07

	 	Compliance with Environmental Laws
	 	 	79	 
	8.08

	 	ERISA
	 	 	80	 
	8.09

	 	Good Repair
	 	 	81	 
	8.10

	 	End of Fiscal Years; Fiscal Quarters
	 	 	81	 
	8.11

	 	Additional Security; Additional Guaranties; Actions with Respect to
Non-Guarantor Subsidiaries; Further Assurances
	 	 	81	 
	8.12

	 	Foreign Subsidiaries Security
	 	 	88	 
	8.13

	 	Use of Proceeds
	 	 	89	 
	8.14

	 	Ownership of Subsidiaries
	 	 	89	 
	8.15

	 	Permitted Acquisitions
	 	 	90	 
	8.16

	 	Maintenance of Company Separateness
	 	 	91	 
	8.17

	 	Performance of Obligations
	 	 	92	 
	8.18

	 	Conduct of Business
	 	 	92	 
	8.19

	 	Margin Stock
	 	 	93	 
	8.20

	 	Foreign Security Document Amendments
	 	 	94	 
	 
	 	 	 	 	 	 
	Section 9.

	 	Negative Covenants
	 	 	94	 
	9.01

	 	Changes in Business; etc
	 	 	94	 
	9.02

	 	Consolidation; Merger; Sale or Purchase of Assets; etc
	 	 	97	 
	9.03

	 	Liens
	 	 	101	 
	9.04

	 	Indebtedness
	 	 	105	 
	9.05

	 	Advances; Investments; Loans
	 	 	109	 
	9.06

	 	Restricted Payments; etc
	 	 	113	 
	9.07

	 	Transactions with Affiliates
	 	 	116	 
	9.08

	 	Limitation on Voluntary Payments and Modifications of Indebtedness;
Modifications of Certificate of Incorporation, By-Laws and Certain Other
Agreements; Issuances of Capital Stock; etc
	 	 	116	 
	9.09

	 	Limitation on Issuance of Equity Interests
	 	 	117	 
	9.10

	 	Limitation on Certain Restrictions on Subsidiaries
	 	 	118	 
	9.11

	 	Limitation on the Creation of Subsidiaries and Joint Ventures
	 	 	119	 
	9.12

	 	Special Restrictions Relating to Principal Property
	 	 	120	 

-iii-

 

	 	 	 	 	 	 	 
	 	 	 	 	Page	 
	 
	9.13

	 	Maximum First Priority Secured Leverage Ratio
	 	 	121	 
	 
	 	 	 	 	 	 
	Section 10.

	 	Events of Default
	 	 	121	 
	10.01

	 	Payments
	 	 	121	 
	10.02

	 	Representations, etc
	 	 	122	 
	10.03

	 	Covenants
	 	 	122	 
	10.04

	 	Default Under Other Agreements
	 	 	122	 
	10.05

	 	Bankruptcy, etc
	 	 	122	 
	10.06

	 	ERISA
	 	 	123	 
	10.07

	 	Security Documents
	 	 	124	 
	10.08

	 	Guaranties
	 	 	124	 
	10.09

	 	Judgments
	 	 	124	 
	10.10

	 	Ownership
	 	 	125	 
	10.11

	 	Denial of Liability
	 	 	125	 
	10.12

	 	Governmental Action
	 	 	125	 
	10.13

	 	Special Defaults Relating to Bermuda Entities
	 	 	125	 
	 
	 	 	 	 	 	 
	Section 11.

	 	Definitions
	 	 	126	 
	 
	 	 	 	 	 	 
	Section 12.

	 	The Agents
	 	 	187	 
	12.01

	 	Appointment
	 	 	187	 
	12.02

	 	Nature of Duties
	 	 	187	 
	12.03

	 	Certain Rights of the Agents
	 	 	188	 
	12.04

	 	Reliance by Agents
	 	 	188	 
	12.05

	 	Notice of Default, etc
	 	 	189	 
	12.06

	 	Nonreliance on Agents and Other Lenders
	 	 	189	 
	12.07

	 	Indemnification
	 	 	189	 
	12.08

	 	Agents in their Individual Capacities
	 	 	190	 
	12.09

	 	Holders
	 	 	190	 
	12.10

	 	Resignation of the Agents
	 	 	191	 
	12.11

	 	Collateral Matters
	 	 	192	 
	12.12

	 	Delivery of Information
	 	 	193	 
	12.13

	 	Special Appointment of Collateral Agent (Germany)
	 	 	193	 
	12.14

	 	Special Provisions Relating to Canadian Security Documents
	 	 	194	 
	12.15

	 	Special Appointment of Collateral Agent (Italy)
	 	 	194	 
	12.16

	 	Continuing Indemnities for Original Agents
	 	 	195	 
	 
	 	 	 	 	 	 
	Section 13.

	 	Miscellaneous
	 	 	195	 
	13.01

	 	Payment of Expenses, etc
	 	 	195	 
	13.02

	 	Right of Setoff
	 	 	197	 
	13.03

	 	Notices
	 	 	198	 
	13.04

	 	Benefit of Agreement
	 	 	198	 
	13.05

	 	No Waiver; Remedies Cumulative
	 	 	201	 
	13.06

	 	Payments Pro Rata
	 	 	201	 

-iv-

 

	 	 	 	 	 	 	 
	 	 	 	 	Page	 
	 
	13.07

	 	Calculations; Computations
	 	 	202	 
	13.08

	 	Governing Law; Submission to Jurisdiction; Venue
	 	 	202	 
	13.09

	 	Counterparts
	 	 	203	 
	13.10

	 	Effectiveness
	 	 	204	 
	13.11

	 	Headings Descriptive
	 	 	204	 
	13.12

	 	Amendment or Waiver; etc
	 	 	204	 
	13.13

	 	Survival
	 	 	207	 
	13.14

	 	Domicile of Loans and Commitments
	 	 	207	 
	13.15

	 	Confidentiality
	 	 	208	 
	13.16

	 	Waiver of Jury Trial
	 	 	209	 
	13.17

	 	Register
	 	 	209	 
	13.18

	 	English Language
	 	 	210	 
	13.19

	 	Special Provisions Regarding Pledges of Equity Interests in, and Promissory
Notes Owed by, Persons Not Organized in Qualified Jurisdictions; Special
Provisions Regarding Foreign Security Documents and Secured Hedge
Counterparties
	 	 	210	 
	13.20

	 	Powers of Attorney; etc
	 	 	211	 
	13.21

	 	Waiver of Sovereign Immunity
	 	 	212	 
	13.22

	 	Judgment Currency
	 	 	212	 
	13.23

	 	Special Acknowledgments
	 	 	213	 
	13.24

	 	Special Provisions Relating to Amendment and Restatement
	 	 	213	 
	13.25

	 	USA Patriot Act
	 	 	214	 
	13.26

	 	Other Liens on Collateral; Terms of Intercreditor Agreement; Etc
	 	 	214	 
	13.27

	 	Post-Closing Actions
	 	 	215	 
	 
	 	 	 	 	 	 
	Section 14.

	 	Credit Agreement Party Guaranty
	 	 	216	 
	14.01

	 	The Guaranty
	 	 	216	 
	14.02

	 	Bankruptcy
	 	 	216	 
	14.03

	 	Nature of Liability
	 	 	217	 
	14.04

	 	Independent Obligation
	 	 	217	 
	14.05

	 	Authorization
	 	 	217	 
	14.06

	 	Reliance
	 	 	218	 
	14.07

	 	Subordination
	 	 	218	 
	14.08

	 	Waiver
	 	 	219	 
	14.09

	 	Payments
	 	 	221	 

	 	 	 	 	 
	Schedule I

	 	—
	 	List of Lenders and Commitments
	Schedule II

	 	—
	 	Lender Addresses
	Schedule III

	 	—
	 	Real Properties
	Schedule IV

	 	—
	 	Scheduled Existing Indebtedness
	Schedule V

	 	—
	 	Pension Plans
	Schedule VI

	 	—
	 	Existing Investments
	Schedule VII

	 	—
	 	Subsidiaries
	Schedule VIII

	 	—
	 	Insurance
	Schedule IX

	 	—
	 	Existing Liens
	Schedule X

	 	—
	 	Capitalization

-v-

 

	 	 	 	 	 
	Schedule XI

	 	—
	 	Existing Letters of Credit
	Schedule XII

	 	—
	 	Certain Foreign Security Documents, Foreign Subsidiaries Party to
Foreign Security Documents, etc.
	Schedule XIII

	 	—
	 	Non-Guarantor Subsidiaries; Excluded Foreign Subsidiaries
	Schedule XIV

	 	—
	 	Transactions with Affiliates
	Schedule XV

	 	—
	 	Principal Properties
	Schedule XVI

	 	—
	 	Tax Matters
	Schedule XVII

	 	—
	 	Initial Qualified Jurisdictions
	Schedule XVIII

	 	—
	 	Post-Closing Matters

	 	 	 	 	 
	Exhibit A-1

	 	—
	 	Form of Notice of Borrowing
	Exhibit A-2

	 	—
	 	Form of Notice of Conversion/Continuation
	Exhibit B-1

	 	—
	 	Form of Tranche B Term Note
	Exhibit B-2

	 	—
	 	Form of Tranche C Term Note
	Exhibit B-3

	 	—
	 	Form of Incremental Term Note
	Exhibit C-1

	 	—
	 	Form of Letter of Credit Request
	Exhibit C-2

	 	—
	 	Form of Bank Guaranty Request
	Exhibit D

	 	—
	 	Form of Section 4.04(b)(ii) Certificate
	Exhibit E-1

	 	—
	 	Form of Opinion of Paul, Hastings, Janofsky & Walker LLP
	Exhibit E-2

	 	—
	 	Form of Opinion of Appleby, Spurling Hunter
	Exhibit F

	 	—
	 	Form of Officers’ Certificate
	Exhibit G-1

	 	—
	 	Form of U.S. Subsidiaries Guaranty
	Exhibit G-2

	 	—
	 	Form of Foreign Subsidiaries Guaranty Acknowledgment
	Exhibit G-3

	 	—
	 	Form of Foreign Subsidiaries Guaranty
	Exhibit H-1

	 	—
	 	Form of U.S. Pledge Agreement
	Exhibit H-2

	 	—
	 	Form of U.S. Security Agreement
	Exhibit I

	 	—
	 	Form of Solvency Certificate
	Exhibit J

	 	—
	 	Form of Assignment and Assumption Agreement
	Exhibit K

	 	—
	 	Form of Intercompany Note
	Exhibit L

	 	—
	 	Form of Shareholder Subordinated Note
	Exhibit M

	 	—
	 	Form of Special Colombian Put Note
	Exhibit N

	 	—
	 	Form of Consent Letter
	Exhibit O-1

	 	—
	 	Form of Intercompany Subordination Acknowledgment
	Exhibit O-2

	 	—
	 	Form of Intercompany Subordination Agreement
	Exhibit P

	 	—
	 	Form of Incremental Term Loan Commitment Agreement
	Exhibit Q

	 	—
	 	Form of Intercreditor Agreement

-vi-

 

          CREDIT AGREEMENT, dated as of March 28, 2003, amended and restated as of April 18, 2005,
further amended and restated as of April 12, 2006 as amended March 18, 2009 and as further amended
on October 26, 2009, among DOLE FOOD COMPANY, INC., a Delaware corporation (the “U.S.
Borrower”), SOLVEST, LTD., a company organized under the laws of Bermuda (the “Bermuda
Borrower” and, together with the U.S. Borrower, the “Borrowers”), the Lenders from time
to time party hereto, DEUTSCHE BANK AG NEW YORK BRANCH, as Deposit Bank (in such capacity, the
“Deposit Bank”), DEUTSCHE BANK AG NEW YORK BRANCH, as Administrative Agent (in such
capacity, the “Administrative Agent”), BANC OF AMERICA SECURITIES LLC, as Syndication Agent
(in such capacity, the “Syndication Agent”), THE BANK OF NOVA SCOTIA and RABOBANK
INTERNATIONAL, as Co-Documentation Agents (in such capacity, each, a “Co-Documentation
Agent” and, collectively, the “Co-Documentation Agents”) and DEUTSCHE BANK SECURITIES
INC., as Lead Arranger and Sole Book Runner (in such capacity, the “Lead Arranger”).
Unless otherwise defined herein, all capitalized terms used herein and defined in Section 11 are
used herein as so defined.

WITNESSETH:

          WHEREAS, DHM Holding Company, Inc., a Delaware corporation (“Holdings”), Dole Holding
Company, LLC, a Delaware limited liability company (“Intermediate Holdco”), the Borrowers,
the Original Lenders, Deutsche Bank AG New York Branch, as Administrative Agent, Banc of America
Securities LLC and The Bank of Nova Scotia, as Co-Syndication Agents, Fortis Capital Corporation,
Harris Trust and Savings Bank and Rabobank International, as Co-Documentation Agents and Deutsche
Bank Securities Inc., Banc of America Securities LLC and The Bank of Nova Scotia, as Joint Lead
Arrangers, are party to a Credit Agreement, dated as of March 28, 2003 and amended and restated as
of April 18, 2005 (as the same has been further amended, restated, modified and/or supplemented to,
but not including, the Restatement Effective Date, the “Original Credit Agreement”);

          WHEREAS, the parties hereto wish to amend and restate the Original Credit Agreement in the
form of this Agreement; and

          NOW, THEREFORE, the parties hereto agree that, effective as of the Restatement Effective Date,
the Original Credit Agreement shall be, and hereby is, amended and restated in its entirety as
follows:

          Section 1.
Amount and Terms of Credit. 1.01 Commitments.
(a) Tranche B Term Loans. Subject to and upon the terms and conditions set forth
herein, each Lender with a Tranche B Term Loan Commitment severally agrees to make a term loan
(each, a “Tranche B Term Loan” and, collectively, the “Tranche B Term Loans”) to
the U.S. Borrower, which Tranche B Term Loans:

     (i) shall be incurred by the U.S. Borrower pursuant to a single drawing on the
Restatement Effective Date for the purposes described in Section 7.05(a);

     (ii) shall be denominated in Dollars;

     (iii) except as hereafter provided, shall, at the option of the U.S. Borrower, be
incurred and maintained as one or more Borrowings of Base Rate Loans or Eurodollar

 

 

Loans; provided (A) except as otherwise specifically provided in Section 1.10(b),
all Tranche B Term Loans made as part of the same Borrowing shall at all times consist of
Tranche B Term Loans of the same Type and (B) unless the Administrative Agent has determined
that the Syndication Date has occurred (at which time this clause (B) shall no longer be
applicable), no more than four Borrowings of Tranche B Term Loans to be maintained as
Eurodollar Loans may be incurred prior to the 30th day after the Restatement Effective Date
(or, if later, the last day of the Interest Period applicable to the fourth Borrowing of
Eurodollar Loans referred to below), each of which Borrowings of Eurodollar Loans may only
have an Interest Period of one week, and the first of which Borrowings may be made no
earlier than the third Business Day, and no later than the fifth Business Day, after the
Restatement Effective Date, the second of which Borrowings may only be made on the last day
of the Interest Period of the first such Borrowing, the third of which Borrowings may only
be made on the last day of the Interest Period of the second such Borrowing and the fourth
of which Borrowings may only be made on the last day of the Interest Period of the third
such Borrowing; and

     (iv) shall be made by each Lender in that initial aggregate principal amount as is
equal to the Tranche B Term Loan Commitment of such Lender on the Restatement Effective Date
(before giving effect to the termination thereof on such date pursuant to Section 3.03(b)).

Once repaid, Tranche B Term Loans incurred hereunder may not be reborrowed.

          (b) Tranche C Term Loans. Subject to and upon the terms and conditions set forth
herein, (I) each Consenting Tranche C Term Loan Lender severally agrees that, on the Restatement
Effective Date, the Original Tranche B Term Loan made by such Consenting Tranche C Term Loan Lender
to the Bermuda Borrower pursuant to the Original Credit Agreement and outstanding on the
Restatement Effective Date (immediately prior to giving effect thereto) shall convert (the
“Term Loan Conversion”) into a new term loan to the Bermuda Borrower (each such term loan,
a “Converted Tranche C Term Loan”); provided that if the aggregate principal amount
of the Original Tranche B Term Loan made by the respective Consenting Tranche C Term Loan Lender to
the Bermuda Borrower pursuant to the Original Credit Agreement and outstanding on the Restatement
Effective Date (immediately prior to giving effect thereto) exceeds the amount set forth opposite
the name of such Lender on Schedule I hereto under the heading “Converted Tranche C Term Loans,”
the amount of such Consenting Tranche C Term Loan Lender’s Converted Tranche C Term Loan shall
equal the amount so set forth for such Lender on Schedule I and the outstanding principal amount of
such Lender’s outstanding Original Tranche B Term Loan in excess thereof shall be repaid on the
Restatement Effective Date (together with interest, breakage costs and any other amounts owing with
respect thereto as provided below), and (II) each Lender with a Tranche C Term Loan Commitment
severally agrees to make, on the Restatement Effective Date, a term loan or term loans to the
Bermuda Borrower (each, an “Additional Tranche C Term Loan” and, collectively, the
“Additional Tranche C Term Loans”, and, together with the Converted Tranche B Term Loans,
each, a “Tranche C Term Loan” and, collectively, the “Tranche C Term Loans”), which
Tranche C Term Loans:

-2-

 

     (i) shall, in the case of Additional Tranche C Term Loans, be incurred by the Bermuda
Borrower pursuant to a single drawing on the Restatement Effective Date for the purposes
described in Section 7.05(a);

     (ii) shall be denominated in Dollars;

     (iii) except as hereinafter provided, shall, at the option of the Bermuda Borrower, be
incurred and maintained as, and/or converted into one or more Borrowings of Base Rate Loans
or Eurodollar Loans, provided that (A) except as otherwise specifically provided in
Section 1.10(b), all Tranche C Term Loans made as part of the same Borrowing shall at all
times consist of Tranche C Term Loans of the same Type and (B) unless the Administrative
Agent has determined that the Syndication Date has occurred (at which time this clause (B)
shall no longer be applicable), no more than four Borrowings of Tranche C Term Loans to be
maintained as Eurodollar Loans may be incurred prior to the 30th day after the Restatement
Effective Date (or, if later, the last day of the Interest Period applicable to the fourth
Borrowing of Eurodollar Loans referred to below), each of which Borrowings of Eurodollar
Loans may only have an Interest Period of one week, and the first of which Borrowings may be
made no earlier than the third Business Day, and no later than the fifth Business Day, after
the Restatement Effective Date, the second of which Borrowings may only be made on the last
day of the Interest Period of the first such Borrowing, the third of which Borrowings may
only be made on the last day of the Interest Period of the second such Borrowing and the
fourth of which Borrowings may only be made on the last day of the Interest Period of the
third such Borrowing; and

     (iv) shall not exceed for any Lender, in initial principal amount, that amount which
equals the sum of (x) the aggregate principal amount of its Converted Tranche C Term Loan
(if any) made as provided in clause (b)(I) above (and as set forth opposite its name on
Schedule I hereto under the heading “Converted Tranche C Term Loans”) plus
(y) the Tranche C Term Loan Commitment of such Lender (if any) as in effect on the
Restatement Effective Date (before giving effect to any reductions thereto on such date
pursuant to Section 3.03(c)).

In connection with the Term Loan Conversion and the incurrence of Additional Tranche C Term Loans
pursuant to this Section 1.01(b), (i) the Interest Period applicable to each Borrowing of Original
Tranche B Term Loans, subject to conversion pursuant to this Section 1.01(b), existing on the
Restatement Effective Date (immediately prior to the Term Loan Conversion) and maintained as
Eurodollar Loans under the Original Credit Agreement shall, simultaneously with the occurrence of
the Term Loan Conversion, be broken, (ii) the Administrative Agent shall (and is hereby authorized
to) take all appropriate actions to ensure that all Lenders with outstanding Tranche C Term Loans
(after giving effect to the Term Loan Conversion and the incurrence of Additional Tranche C Term
Loans pursuant to this Section 1.01(b)) participate in each new Borrowing of Tranche C Term Loans
on a pro rata basis (based upon their respective Tranche C Term Loan Borrowing
Amounts as in effect on the Restatement Effective Date) and (iii) the Bermuda Borrower shall be
obligated to pay to the respective Original Lenders breakage and/or other costs of the type
referred to in Section 1.11 of the Original Credit Agreement (if any) incurred in connection with
the Term Loan Conversion and/or the actions taken pursuant to pre-

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ceding clause (ii) of this Section 1.01(b). Once repaid, Tranche C Term Loans may not be
reborrowed.

          (c) Subject to and upon the terms and conditions set forth herein, each Lender with an
Incremental Term Loan Commitment for a given Tranche of Incremental Term Loans severally agrees, at
any time and from time to time on and after the date that such Incremental Term Loan Commitment is
obtained pursuant to Section 1.15 and prior to the Incremental Term Loan Commitment Termination
Date for such Tranche of Incremental Term Loans, to make a term loan (each, an “Incremental
Term Loan” and, collectively, the “Incremental Term Loans”) to the Incremental Term
Loan Borrower for such Tranche, which Incremental Term Loans:

     (i) shall be incurred on an Incremental Term Loan Borrowing Date for the purposes
described in Section 7.05(a);

     (ii) shall be denominated in Dollars;

     (iii) except as hereinafter provided, shall, at the option of the Incremental Term Loan
Borrower for such Tranche, be incurred and maintained as, and/or converted into one or more
Borrowings of Base Rate Loans or Eurodollar Loans, provided that except as otherwise
specifically provided in Section 1.10(b), all Incremental Term Loans of a given Tranche made
as part of the same Borrowing shall at all times consist of Incremental Term Loans of the
same Type; and

     (iv) shall not exceed for any such Incremental Term Loan Lender at any time of any
incurrence thereof, the Incremental Term Loan Commitment of such Incremental Term Loan
Lender for such Tranche at such time (before giving effect to any reductions thereto on such
date pursuant to Section 3.03(e)).

Once repaid, Incremental Term Loans may not be reborrowed.

          1.02 Minimum Borrowing Amounts, etc. The aggregate principal amount of each Borrowing
of Loans shall not be less than the Minimum Borrowing Amount applicable to Borrowings of
the respective Type and Tranche of Loans to be made or maintained pursuant to the respective
Borrowing. More than one Borrowing may be incurred on any day, but at no time shall there be
outstanding more than 35 Borrowings of Eurodollar Loans.

          1.03 Notice of Borrowing. Whenever a Borrower desires to make a Borrowing of Loans
hereunder, an Authorized Officer of such Borrower shall give the Administrative Agent at its Notice
Office at least one Business Day’s prior written (or telephonic notice promptly confirmed in
writing) notice of each Base Rate Loan and at least three Business Days’ prior written (or
telephonic notice promptly confirmed in writing) notice of each Eurodollar Loan to be made
hereunder, provided that any such notice shall be deemed to have been given on a certain
day only if given before 2:00 P.M. (New York time) on such day. Each such written notice or
written confirmation of telephonic notice (each, a “Notice of Borrowing”), except as
otherwise expressly provided in Section 1.10, shall be irrevocable and shall be given by or on
behalf of the respective Borrower in the form of Exhibit A-1, appropriately completed to specify:
(i) the aggregate principal amount of the Loans to be made pursuant to such Borrowing, (ii) the
date of such Borrowing (which shall be a Business Day), (iii) whether the respective Borrowing
shall

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consist of Tranche B Term Loans, Tranche C Term Loans, U.S. Borrower Incremental Term Loans or
Bermuda Borrower Incremental Term Loans and (iv) whether the Loans being made pursuant to such
Borrowing are to be initially maintained as Base Rate Loans or Eurodollar Loans. The
Administrative Agent shall promptly give each Lender which is required to make Loans of the Tranche
specified in the respective Notice of Borrowing notice of such proposed Borrowing, of such Lender’s
proportionate share thereof (determined in accordance with Section 1.07) and of the other matters
required by the immediately preceding sentence to be specified in the Notice of Borrowing.

          1.04 Disbursement of Funds. Not later than 1:00 P.M. (New York time) on the date
specified in each Notice of Borrowing, each Lender with a Commitment under the respective Tranche,
will make available its pro rata portion (determined in accordance with Section 1.07) of each such
Borrowing requested to be made on such date (or, in the case of Additional Tranche C Term Loans,
each Lender with a Tranche C Term Loan Commitment will make available an amount thereof equal to
its Tranche C Term Loan Commitment on the Restatement Effective Date (prior to the termination
thereof pursuant to Section 3.03(c) on such date)). All such amounts shall be made available in
Dollars and in immediately available funds at the Payment Office of the Administrative Agent, and
the Administrative Agent will make available to the respective Borrower the Payment Office or such
other location as may be reasonably satisfactory to the Administrative Agent and specified in the
relevant Notice of Borrowing the aggregate of the amounts so made available by the Lenders prior to
3:00 P.M. (New York time) on such day to the extent of funds actually received by the
Administrative Agent prior to such time on such day. Unless the Administrative Agent shall have
been notified by any Lender prior to the date of Borrowing that such Lender does not intend to make
available to the Administrative Agent such Lender’s portion of any Borrowing to be made on such
date, the Administrative Agent may assume that such Lender has made such amount available to the
Administrative Agent on such date of Borrowing and the Administrative Agent may, in reliance upon
such assumption, make available to the relevant Borrower a corresponding amount. If such
corresponding amount is not in fact made available to the Administrative Agent by such Lender, the
Administrative Agent shall be entitled to recover such corresponding amount on demand from such
Lender. If such Lender does not pay such corresponding amount forthwith upon the Administrative
Agent’s demand therefor, the Administrative Agent shall promptly notify the relevant Borrower to
pay immediately such corresponding amount to the Administrative Agent and such Borrower shall
immediately pay such corresponding amount to the Administrative Agent. The Administrative Agent
shall also be entitled to recover on demand from such Lender or the U.S. Borrower or the Bermuda
Borrower, as the case may be, interest on such corresponding amount in respect of each day from the
date such corresponding amount was made available by the Administrative Agent to the respective
Borrower until the date such corresponding amount is recovered by the Administrative Agent, at a
rate per annum equal to (i) if recovered from such Lender, the overnight Federal Funds Rate and
(ii) if recovered from the respective Borrower, the rate of interest applicable to the respective
Borrowing, as determined pursuant to Section 1.08. Nothing in this Section 1.04 shall be deemed to
relieve any Lender from its obligation to make Loans hereunder or to prejudice any rights which the
relevant Borrower may have against any Lender as a result of any failure by such Lender to make
Loans hereunder.

          1.05 Notes. (a) Subject to the provisions of Section 1.05(f), the U.S. Borrower’s (in
the case of Tranche B Term Loans and U.S. Borrower Incremental Term Loans) and the

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Bermuda Borrower’s (in the case of Tranche C Term Loans and Bermuda Borrower Incremental
Term Loans) obligation to pay the principal of, and interest on, the Loans made by each Lender
shall be evidenced (i) in the case of Tranche B Term Loans, by a promissory note duly executed and
delivered by the U.S. Borrower substantially in the form of Exhibit B-1, with blanks appropriately
completed in conformity herewith (each, a “Tranche B Term Note” and, collectively, the
“Tranche B Term Notes”), (ii) in the case of Tranche C Term Loans, by a promissory note
duly executed and delivered by the Bermuda Borrower substantially in the form of Exhibit B-2, with
blanks appropriately completed in conformity herewith (each, a “Tranche C Term Note” and,
collectively, the “Tranche C Term Notes”) and (iii) in the case of Incremental Term Loans,
by a promissory note duly executed and delivered by the applicable Incremental Term Loan Borrower
for such Tranche substantially in the form of Exhibit B-3, with blanks appropriately completed in
conformity herewith (each, an “Incremental Term Note” and, collectively, the
“Incremental Term Notes”).

          (b) The Tranche B Term Note issued to each Lender with a Tranche B Term Loan Commitment or
outstanding Tranche B Term Loans shall (i) be executed by the U.S. Borrower, (ii) be payable to
such Lender (or an affiliate designated by such Lender) or its registered assigns and be dated the
Restatement Effective Date (or, in the case of any Tranche B Term Note issued after the Restatement
Effective Date, the date of issuance thereof), (iii) be in a stated principal amount (expressed in
Dollars) equal to the Tranche B Term Loan Commitment of such Lender on the Restatement Effective
Date before giving effect to any reductions thereto on such date (or, in the case of any Tranche B
Term Note issued after the Restatement Effective Date, in a stated principal amount (expressed in
Dollars) equal to the outstanding principal amount of the Tranche B Term Loan of such Lender on the
date of the issuance thereof) and be payable (in Dollars) in the principal amount of the Tranche B
Term Loan evidenced thereby from time to time, (iv) mature on the Tranche B/C Term Loan Maturity
Date, (v) bear interest as provided in the appropriate clauses of Section 1.08 in respect of the
Base Rate Loans and Eurodollar Loans, as the case may be, evidenced thereby, (vi) be subject to
voluntary repayment as provided in Section 4.01 and mandatory repayment as provided in Section 4.02
and (vii) be entitled to the benefits of this Agreement and the other Credit Documents.

          (c) The Tranche C Term Note issued to each Lender with a Tranche C Term Loan Commitment or
outstanding Tranche C Term Loans shall (i) be executed by the Bermuda Borrower, (ii) be payable to
such Lender (or an affiliate designated by such Lender) or its registered assigns and be dated the
Restatement Effective Date (or, in the case of any Tranche C Term Note issued after the Restatement
Effective Date, the date of issuance thereof), (iii) be in a stated principal amount (expressed in
Dollars) equal to the sum of the Tranche C Term Loan Commitment of such Lender on the Restatement
Effective Date (before giving effect to any reductions thereto on such date) plus the
aggregate principal amount of the Converted Tranche B Term Loan (if any) of such Lender on the
Restatement Effective Date (or, in the case of any Tranche C Term Note issued after the Restatement
Effective Date, in a stated principal amount (expressed in Dollars) equal to the outstanding
principal amount of the Tranche C Term Loan of such Lender on the date of the issuance thereof) and
be payable (in Dollars) in the principal amount of the Tranche C Term Loan evidenced thereby from
time to time, (iv) mature on the Tranche B/C Term Loan Maturity Date, (v) bear interest as provided
in the appropriate clause of Section 1.08 in respect of the Base Rate Loans and Eurodollar Loans,
as the case may be, evidenced thereby, (vi) be subject to voluntary repayment as provided in
Section 4.01 and mandatory repayment as

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provided in Section 4.02 and (vii) be entitled to the benefits of this Agreement and the other
Credit Documents.

          (d) The Incremental Term Note issued to each Lender with an Incremental Term Loan Commitment
or outstanding Incremental Term Loans under a given Tranche shall (i) be executed by the
Incremental Term Loan Borrower for such Tranche, (ii) be payable to such Lender (or an affiliate
designated by such Lender) or its registered assigns and be dated the date of issuance thereof,
(iii) be in a stated principal amount (expressed in Dollars) equal to the Incremental Term Loan
Commitment of such Lender on the effective date of the respective Incremental Term Loan Commitment
Agreement (prior to the incurrence of any Incremental Term Loans pursuant thereto on such date)
(or, if issued thereafter, be in a stated principal amount (expressed in Dollars) equal to the sum
of the then remaining amount of the Incremental Term Loan Commitment of such Lender plus
the outstanding principal amount of the Incremental Term Loans of such Lender on the date of
issuance thereof) and be payable (in Dollars) in the principal amount of the Incremental Term Loans
evidenced thereby from time to time, (iv) mature on the respective Incremental Term Loan Maturity
Date, (v) bear interest as provided in the appropriate clause of Section 1.08 in respect of Base
Rate Loans and Eurodollar Loans, as the case may be, evidenced thereby, (vi) be subject to
voluntary prepayment as provided in Section 4.01 and mandatory repayment as provided in Section
4.02 and (vi) be entitled to the benefits of this Agreement and the other Credit Documents.

          (e) Each Lender will note on its internal records the amount of each Loan made by it and each
payment in respect thereof and will prior to any transfer of any of its Notes endorse on the
reverse side thereof the outstanding principal amount of Loans evidenced thereby. Failure to make
any such notation or any error in any such notation or endorsement shall not affect either
Borrower’s obligations in respect of any Loans.

          (f) Notwithstanding anything to the contrary contained above or elsewhere in this Agreement,
Notes shall only be delivered to Lenders that at any time specifically request the delivery of such
Notes. No failure of any Lender to request or obtain a Note evidencing its Loans to either Borrower
shall affect or in any manner impair the obligations of the respective Borrower to pay the Loans
(and all related Obligations) which would otherwise be evidenced thereby in accordance with the
requirements of this Agreement, and shall not in any way affect the security or guaranties therefor
provided pursuant to the various Credit Documents. Any Lender that does not have a Note evidencing
its outstanding Loans shall in no event be required to make the notations or endorsements otherwise
described in preceding clause (e). At any time when any Lender requests the delivery of a Note to
evidence any of its Loans, the relevant Borrower shall promptly execute and deliver to the
respective Lender the requested Note or Notes in the appropriate amount or amounts to evidence such
Loans.

          1.06 Conversions. Each Borrower shall have the option to convert, on any Business Day
occurring after the Restatement Effective Date, all or a portion equal to at least the applicable
Minimum Borrowing Amount (and, if greater, in an integral multiple of $500,000) of the outstanding
principal amount of Loans made to such Borrower pursuant to one or more Borrowings of one or more
Types of Loans under a single Tranche into a Borrowing or Borrowings of another Type of Loan under
such Tranche, provided that (i) except as otherwise provided in Section 1.10(b) or unless
the respective Borrower pays all amounts owing pursuant to Section

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1.11 concurrently with any such conversion, Eurodollar Loans may be converted into Base Rate
Loans only on the last day of an Interest Period applicable to the Eurodollar Loans being converted
and no such partial conversion of Eurodollar Loans shall reduce the outstanding principal amount of
such Eurodollar Loans made pursuant to a single Borrowing to less than the applicable
Minimum Borrowing Amount applicable thereto, (ii) unless the Required Lenders otherwise agree, Base
Rate Loans may only be converted into Eurodollar Loans if no Default or Event of Default is in
existence on the date of conversion, (iii) unless the Administrative Agent has determined that the
Syndication Date has occurred (at which time this clause (iii) shall no longer be applicable),
prior to the 30th day after the Restatement Effective Date, conversions of Base Rate Loans into
Eurodollar Loans may only be made if any such conversion is effective on the first day of the
first, second, third or fourth Interest Period referred to in clause (B) of the provisos appearing
in each of Section 1.01(a)(iii) and Section 1.01(b)(iii) and so long as any such conversion does
not result in a greater number of Borrowings of Eurodollar Loans prior to the 30th day after the
Restatement Effective Date as are permitted under Section 1.01(a)(iii) and Section 1.01(b)(iii),
and (iv) no conversion pursuant to this Section 1.06 shall result in a greater number of Borrowings
of Eurodollar Loans than is permitted under Section 1.02. Each such conversion shall be effected
by the applicable Borrower by giving the Administrative Agent at its Notice Office prior to 2:00
P.M. (New York time) at least three Business Days’ prior notice (each, a “Notice of
Conversion/Continuation”) in the form of Exhibit A-2, appropriately completed to specify the
Loans of such Borrower to be so converted, the Borrowing or Borrowings pursuant to which such Loans
were made and, if to be converted into Eurodollar Loans, the Interest Period to be initially
applicable thereto. The Administrative Agent shall give each Lender prompt notice of any such
proposed conversion affecting any of its Loans.

          1.07 Pro Rata Borrowings. All Borrowings of Tranche B Term Loans, Tranche C Term Loans
and Incremental Term Loans of a given Tranche under this Agreement shall be incurred from the
Lenders pro rata on the basis of such Lenders’ Tranche B Term Loan Commitments,
Tranche C Term Loan Borrowing Amounts or Incremental Term Loan Commitments of the applicable given
Tranche, as the case may be. It is understood that no Lender shall be responsible for any default
by any other Lender of its obligation to make Loans hereunder and that each Lender shall be
obligated to make the Loans provided to be made by it hereunder, regardless of the failure of any
other Lender to make its Loans hereunder.

          1.08 Interest. (a) The U.S. Borrower hereby agrees to pay (in the case of Tranche B
Term Loans and U.S. Borrower Incremental Term Loans, in each case maintained as Base Rate Loans)
and the Bermuda Borrower hereby agrees to pay (in the case of Tranche C Term Loans and Bermuda
Borrower Incremental Term Loans, in each case maintained as Base Rate Loans) interest in respect of
the unpaid principal amount of each Base Rate Loan made to it from the date of the Borrowing
thereof until the earlier of (i) the maturity (whether by acceleration or otherwise) of such Base
Rate Loan and (ii) the conversion of such Base Rate Loan to a Eurodollar Loan pursuant to Section
1.06, at a rate per annum which shall be equal to the sum of the Base Rate in effect from time to
time during the period such Base Rate Loan is outstanding plus the relevant Applicable
Margin as in effect from time to time.

          (b) The U.S. Borrower hereby agrees to pay (in the case of Tranche B Term Loans and U.S.
Borrower Incremental Term Loans, in each case maintained as Eurodollar Loans) and the Bermuda
Borrower hereby agrees to pay (in the case of Tranche C Term Loans

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and Bermuda Borrower Incremental Term Loans, in each case maintained as Eurodollar Loans),
interest in respect of the unpaid principal amount of each Eurodollar Loan made to it from the date
of the Borrowing thereof until the earlier of (i) the maturity (whether by acceleration or
otherwise) of such Eurodollar Loan and (ii) the conversion of such Eurodollar Loan to a Base Rate
Loan pursuant to Section 1.06, 1.09 or 1.10, as applicable, at a rate per annum which shall, during
each Interest Period applicable thereto, be equal to the sum of the Eurodollar Rate for such
Interest Period plus the relevant Applicable Margin as in effect from time to time.

          (c) Overdue principal and, to the extent permitted by law, overdue interest in respect of each
Loan and any other overdue amount payable hereunder shall, in each case, bear interest at a rate
per annum equal to the greater of (x) 2% per annum in excess of the rate otherwise applicable to
Base Rate Loans maintained pursuant to the respective Tranche (or, if the overdue amount owing does
not relate to any specific Tranche, the rate otherwise applicable to Tranche B Term Loans which are
maintained as Base Rate Loans) from time to time and (y) the rate which is 2% in excess of the rate
then borne by such Loans, in each case with such interest to be payable on demand.

          (d) Accrued (and theretofore unpaid) interest shall be payable (i) in respect of each Base
Rate Loan, quarterly in arrears on each Quarterly Payment Date, (ii) in respect of each Eurodollar
Loan, on the last day of each Interest Period applicable thereto and, in the case of an Interest
Period in excess of three months, on each date occurring at three month intervals after the first
day of such Interest Period and (iii) in respect of each Loan, on any repayment or prepayment (on
the amount repaid or prepaid), at maturity (whether by acceleration or otherwise) and, after such
maturity, on demand.

          (e) Upon each Interest Determination Date, the Administrative Agent shall determine the
Eurodollar Rate for the respective Interest Period or Interest Periods and shall promptly notify
the respective Borrower and the respective Lenders thereof. Each such determination shall, absent
manifest error, be final and conclusive and binding on all parties hereto.

          1.09 Interest Periods. At the time a Borrower gives any Notice of Borrowing or Notice
of Conversion/Continuation in respect of the making of, or conversion into, any Eurodollar Loan (in
the case of the initial Interest Period applicable thereto) or on the third Business Day prior to
the expiration of an Interest Period applicable to such Eurodollar Loan (in the case of any
subsequent Interest Period), the respective Borrower shall have the right to elect, by having an
Authorized Officer of such Borrower give the Administrative Agent notice thereof, the interest
period applicable to such Eurodollar Loan, which Interest Period shall, at the option of such
Borrower (but otherwise subject to (x) clause (B) of the proviso appearing in Section 1.01(a)(iii),
(y) clause (B) of the proviso appearing in Section 1.01(b)(iii) and (z) clause (iii) of the proviso
appearing in Section 1.06) be, in the case of a Eurodollar Loan, a one, two, three or six-month
period or, to the extent agreed to by all Lenders required to make Loans under the respective
Tranche, a nine or twelve-month period (or, if required by clause (B) of the proviso appearing in
either Section 1.01(a)(iii) or Section 1.01(b)(iii), a one-week period); provided that:

     (i) all Eurodollar Loans comprising the same Borrowing shall at all times have the same
Interest Period;

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     (ii) the initial Interest Period for any Eurodollar Loan shall commence on the date of
Borrowing of such Eurodollar Loan (including the date of any conversion thereto from a
Borrowing of Base Rate Loans) and each Interest Period occurring thereafter in respect of
such Eurodollar Loan shall commence on the day on which the next preceding Interest Period
applicable thereto expires;

     (iii) if any Interest Period relating to a Eurodollar Loan begins on a day for which
there is no numerically corresponding day in the calendar month at the end of such Interest
Period, such Interest Period shall end on the last Business Day of such calendar month;

     (iv) if any Interest Period for a Eurodollar Loan would otherwise expire on a day which
is not a Business Day, such Interest Period shall expire on the next succeeding Business
Day; provided, however, that if any Interest Period for a Eurodollar Loan
would otherwise expire on a day which is not a Business Day but is a day of the month after
which no further Business Day occurs in such month, such Interest Period shall expire on the
next preceding Business Day;

     (v) no Interest Period in respect of any Borrowing under a given Tranche of Loans shall
be selected which extends beyond the respective Maturity Date for such Tranche of Loans;

     (vi) unless the Required Lenders otherwise agree, no Interest Period for a Eurodollar
Loan may be selected at any time when a Default or Event of Default is then in existence;
and

     (vii) no Interest Period in respect of any Borrowing of any Tranche of Term Loans shall
be elected which extends beyond any date upon which a Scheduled Repayment for the respective
Tranche of Term Loans will be required to be made under Section 4.02(b) if, after giving
effect to the election of such Interest Period, the aggregate principal amount of such
Tranche of Term Loans which have Interest Periods which will expire after such date will be
in excess of the aggregate principal amount of such Tranche of Term Loans then outstanding
less the aggregate amount of such required Scheduled Repayment.

If upon the expiration of any Interest Period applicable to a Borrowing of Eurodollar Loans, the
U.S. Borrower or the Bermuda Borrower, as applicable, has failed to elect, or is not permitted to
elect, a new Interest Period to be applicable to such Eurodollar Loans as provided above, the
relevant Borrower shall be deemed to have elected to convert such Eurodollar Loans into Base Rate
Loans, in any such case effective as of the expiration date of such current Interest Period.

          1.10 Increased Costs; Illegality; etc. (a) In the event that any Lender shall have
determined in good faith (which determination shall, absent manifest error, be final and conclusive
and binding upon all parties hereto but, with respect to clause (i) below, may be made only by the
Administrative Agent):

     (i) on any Interest Determination Date that, by reason of any changes arising after the
Restatement Effective Date affecting the applicable interbank market, adequate

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and fair means do not exist for ascertaining the applicable interest rate on the basis
provided for in the definition of the Eurodollar Rate; or

     (ii) at any time that such Lender shall incur increased costs or reductions in the
amounts received or receivable hereunder with respect to any Eurodollar Loan because of (x)
any change since the Restatement Effective Date in any applicable law or governmental rule,
regulation, order, guideline or request (whether or not having the force of law) or in the
interpretation or administration thereof and including the introduction of any new law or
governmental rule, regulation, order, guideline or request, such as, for example, but not
limited to (A) a change in the basis of taxation of payments to a Lender of the principal of
or interest on the Loans or any other amounts payable hereunder (except for changes in the
rate of tax on, or determined by reference to, the net income or net profits of such Lender
imposed by the jurisdiction in which its principal office or applicable lending office is
located) or (B) a change in official reserve requirements, but, in all events, excluding
reserves required under Regulation D to the extent included in the computation of the
Eurodollar Rate and/or (y) other circumstances arising since the Restatement Effective Date
affecting such Lender, the interbank market or the position of such Lender in such market
(whether or not such Lender was a Lender at the time of such occurrence); or

     (iii) at any time after the Restatement Effective Date, that the making or continuance
of any Eurodollar Loan has been made unlawful by any law or governmental rule, regulation or
order (or would conflict with any governmental rule, regulation, guideline, request or order
not having the force of law but with which such Lender customarily complies even though the
failure to comply therewith would not be unlawful), or impracticable as a result of a
contingency occurring after the Restatement Effective Date which materially and adversely
affects the applicable interbank market;

then, and in any such event, such Lender (or the Administrative Agent, in the case of clause (i)
above) shall promptly give notice (by telephone confirmed in writing) to the affected Borrower,
and, except in the case of clause (i) above, to the Administrative Agent of such determination
(which notice the Administrative Agent shall promptly transmit to each of the other Lenders).
Thereafter (x) in the case of clause (i) above, Eurodollar Loans shall no longer be available until
such time as the Administrative Agent notifies any affected Borrower and the Lenders that the
circumstances giving rise to such notice by the Administrative Agent no longer exist, and any
Notice of Borrowing or Notice of Conversion/Continuation given by either Borrower with respect to
Eurodollar Loans which have not yet been incurred (including by way of conversion) shall be deemed
rescinded by such Borrower, (y) in the case of clause (ii) above, the respective Borrower or
Borrowers, as the case may be, agrees to pay to such Lender, upon written demand therefor, such
additional amounts (in the form of an increased rate of, or a different method of calculating,
interest or otherwise as such Lender in its sole discretion shall determine) as shall be required
to compensate such Lender for such increased costs or reductions in amounts received or receivable
hereunder (with the written notice as to the additional amounts owed to such Lender, submitted to
the respective Borrower or Borrowers by such Lender in accordance with the foregoing to be, absent
manifest error, final and conclusive and binding on all the parties hereto, although the failure to
give any such notice shall not release or diminish any of the respective Borrower’s or Borrowers’
obligations to pay additional amounts pursuant to this Section 1.10(a)

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upon the subsequent submission of such notice) and (z) in the case of clause (iii) above,
the respective Borrower or Borrowers shall take one of the actions specified in Section 1.10(b) as
promptly as possible and, in any event, within the time period required by law. Each of the
Administrative Agent and each Lender agrees that if it gives notice to either Borrower of any of
the events described in clause (i), (ii) or (iii) above, it shall promptly notify such Borrower
and, in the case of any such Lender, the Administrative Agent, if such event ceases to exist.

          (b) At any time that any Eurodollar Loan is affected by the circumstances described in Section
1.10(a)(ii) or (iii), the affected Borrower may (and, in the case of a Eurodollar Loan affected by
the circumstances described in Section 1.10(a)(iii), shall) either (x) if the affected Eurodollar
Loan is then being made initially or pursuant to a conversion, cancel the respective Borrowing by
giving the Administrative Agent telephonic notice (confirmed in writing) on the same date that such
Borrower was notified by the affected Lender or the Administrative Agent pursuant to Section
1.10(a)(ii) or (iii), as the case may be, or (y) if the affected Eurodollar Loan is then
outstanding, upon at least three Business Days’ written notice to the Administrative Agent, require
the affected Lender to convert such Eurodollar Loan into a Base Rate Loan (which conversion, in the
case of the circumstance described in Section 1.10(a)(iii), shall occur no later than the last day
of the Interest Period then applicable to such Eurodollar Loan or such earlier day as shall be
required by applicable law).

          (c) If any Lender shall have determined after the Restatement Effective Date that the adoption
or effectiveness after the Restatement Effective Date of any applicable law, rule or regulation
regarding capital adequacy, or any change therein, or any change after the Restatement Effective
Date in the interpretation or administration thereof by any governmental authority, central bank or
comparable agency charged with the interpretation or administration thereof, or compliance by such
Lender or any Person controlling such Lender with any request or directive regarding capital
adequacy (whether or not having the force of law) of any such authority, central bank or comparable
agency, has or would have the effect of reducing the rate of return on such Lender’s or such other
controlling Person’s capital or assets as a consequence of such Lender’s Commitment or Commitments
hereunder or its obligations hereunder to a level below that which such Lender or such other
controlling Person could have achieved but for such adoption, effectiveness, change or compliance
(taking into consideration such Lender’s or such other controlling Person’s policies with respect
to capital adequacy), then from time to time, upon written demand by such Lender (with a copy to
the Administrative Agent), accompanied by the notice referred to in the next succeeding sentence of
this Section 1.10(c), the Borrowers jointly and severally agree to pay to such Lender such
additional amount or amounts as will compensate such Lender or such other controlling Person for
such reduction in the rate of return to such Lender or such other controlling Person. Each Lender,
upon determining in good faith that any additional amounts will be payable pursuant to this Section
1.10(c), will give prompt written notice thereof to the relevant Borrower (a copy of which shall be
sent by such Lender to the Administrative Agent), which notice shall set forth such Lender’s basis
for asserting its rights under this Section 1.10(c) and the calculation, in reasonable detail, of
such additional amounts claimed hereunder, although the failure to give any such notice shall not
release or diminish either Borrower’s obligations to pay additional amounts pursuant to this
Section 1.10(c) upon the subsequent receipt of such notice. A Lender’s good faith determination of
compensation owing under this Section 1.10(c) shall, absent manifest error, be final and conclusive
and binding on all the parties hereto.

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          (d) In the event that any Lender shall in good faith determine (which determination shall,
absent manifest error, be final and conclusive and binding on all parties hereto) at any time that
such Lender is required to maintain reserves (including, without limitation, any marginal,
emergency, supplemental, special or other reserves required by applicable law) which have been
established by any Federal, state, local or foreign court or governmental agency, authority,
instrumentality or regulatory body with jurisdiction over such Lender (including any branch,
Affiliate or funding office thereof) in respect of any Non-Dollar Denominated Letter of Credit, any
Non-Dollar Denominated Bank Guaranties or any category of liabilities which includes deposits by
reference to which the interest rate on any Non-Dollar Denominated Letter of Credit or any
Non-Dollar Denominated Bank Guaranty is determined or any category of extensions of credit or other
assets which includes loans by a non-United States office of any Lender to non-United States
residents, then, unless such reserves are included in the calculation of the interest rate
applicable to such Non-Dollar Denominated Letter of Credit or such Non-Dollar Denominated Bank
Guaranty or in Section 1.10(a)(ii), such Lender shall promptly notify the Borrowers in writing
specifying the additional amounts required to indemnify such Lender against the cost of maintaining
such reserves (such written notice to provide in reasonable detail a computation of such additional
amounts) and the Borrowers jointly and severally agree to pay to such Lender such specified amounts
as additional fees at the time that either Borrower is otherwise required to pay regularly accruing
fees in respect of such Non-Dollar Denominated Letter of Credit or such Non-Dollar Denominated Bank
Guaranty or, if later, on written demand therefor by such Lender.

          1.11 Compensation. (a) The Borrowers jointly and severally agree to compensate each Lender, upon its written
request (which request shall set forth in reasonable detail the basis for requesting such
compensation), for all losses, expenses and liabilities (including, without limitation, any loss,
expense or liability incurred by reason of the liquidation or reemployment of deposits or other
funds required by such Lender to fund its Eurodollar Loans but excluding any loss of anticipated
profit) which such Lender may sustain: (i) if for any reason (other than a default by such Lender
or any Agent) a Borrowing of, or conversion from or into, Eurodollar Loans does not occur on a date
specified therefor in a Notice of Borrowing or Notice of Conversion/Continuation (whether or not
withdrawn by the respective Borrower or Borrowers or deemed withdrawn pursuant to Section 1.10(a));
(ii) if any repayment (including any repayment made pursuant to Section 4.01 or 4.02 or as a result
of an acceleration of the Loans pursuant to Section 10 or as a result of the replacement of a
Lender pursuant to Section 1.13, 4.01 or 13.12(b)), conversion or permitted “realignment” of any of
its Eurodollar Loans occurs on a date which is not the last day of an Interest Period applicable
thereto; (iii) if any prepayment of any of its Eurodollar Loans is not made on any date specified
in a notice of prepayment given by the respective Borrower or Borrowers; or (iv) as a consequence
of (x) any other default by the respective Borrower to repay its Loans when required by the terms
of this Agreement or any Note held by such Lender or (y) any election made pursuant to Section
1.10(b). Each Lender’s calculation of the amount of compensation owing pursuant to this Section
1.11(a) shall be made in good faith. A Lender’s basis for requesting compensation pursuant to this
Section 1.11(a) and a Lender’s calculation of the amount thereof, shall, absent manifest error, be
final and conclusive and binding on all parties hereto.

          (b) The Borrowers jointly and severally agree to compensate the Deposit Bank and each CL
Lender, upon the Deposit Bank’s or applicable CL Lender’s written request

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(which request shall set
forth in reasonable detail the basis for requesting such compensation), for all losses, expenses
and liabilities incurred by the Deposit Bank or such CL Lender in connection with: (i) any
withdrawals from the Credit-Linked Deposit Account pursuant to the terms of this Agreement prior to
the end of the applicable Interest Period or Scheduled Investment Termination Date for the
Credit-Linked Deposits; and (ii) the termination of the Total Credit-Linked Commitment (and the
related termination of the investment of the funds held in the Credit-Linked Deposit Account) prior
to the end of any applicable Interest Period or Scheduled Investment Termination Date for the
Credit-Linked Deposits; provided, however, that neither of the Borrowers shall have
any obligation to compensate the Deposit Bank or any CL Lender pursuant to this Section 1.11(b) for
any losses, expenses and liabilities in connection with periods after such Interest Period or
Scheduled Investment Termination Date, as the case may be.

          1.12 Change of Lending Office. (a) Each Lender may at any time or from time to time designate, by written notice to the
Administrative Agent to the extent not already reflected on Schedule II, one or more lending
offices (which, for this purpose, may include Affiliates of the respective Lender) for the various
Loans made, and Letters of Credit and Bank Guaranties participated in, by such Lender (including,
without limitation, by designating a separate lending office (or Affiliate) to act as such with
respect to Dollar Denominated Letter of Credit Outstandings and Dollar Denominated Bank Guaranty
Outstandings versus Non-Dollar Denominated Letter of Credit Outstandings and Non-Dollar Denominated
Bank Guaranty Outstandings); provided that, for designations made after the Restatement
Effective Date (unless such designation is made after the occurrence of a Sharing Event as a result
of any Lender’s purchase of participating interests in Loans, Letters of Credit, Unpaid Drawings,
Unreimbursed Payments and Credit-Linked Deposits pursuant to Section 1.14), to the extent such
designation shall result in increased costs under Section 1.10, 2A.06, 2B.06 or 4.04 in excess of
those which would be charged in the absence of the designation of a different lending office
(including a different Affiliate of the respective Lender), then the Borrowers shall not be
obligated to pay such excess increased costs (although if such designation results in increased
costs, the Borrowers shall be obligated to pay the costs which would have applied in the absence of
such designation and any subsequent increased costs of the type described above resulting from
changes after the date of the respective designation). Except as provided in the immediately
preceding sentence, such lending office and Affiliate of any Lender designated as provided above
shall, for all purposes of this Agreement, be treated in the same manner as the respective Lender
(and shall be entitled to all indemnities and similar provisions in respect of its acting as such
hereunder).

          (b) Each Lender agrees that upon the occurrence of any event giving rise to the operation of
Section 1.10(a)(ii) or (iii), Section 1.10(c), Section 2A.06, Section 2B.06 or Section 4.04 with
respect to such Lender, it will, if requested by the applicable Borrower by notice to such Lender,
use reasonable efforts (subject to overall policy considerations of such Lender) to designate
another lending office for any Loans, Letters of Credit and/or Bank Guaranties, as the case may be,
affected by such event, provided that such designation is made on such terms that such
Lender and its lending office suffer no economic, legal or regulatory disadvantage, with the object
of avoiding the consequence of the event giving rise to the operation of any of the
aforementioned Sections. Nothing in this Section 1.12 shall affect or postpone any of the
obligations of either Borrower or the rights of any Lender provided in Sections 1.10, 2A.06, 2B.06
and 4.04.

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          1.13 Replacement of Lenders. (x) If any Lender becomes a Defaulting Lender, (y) upon the occurrence of any event giving
rise to the operation of Section 1.10(a)(ii) or (iii), Section 1.10(c) or (d), Section 2A.06,
Section 2B.06 or Section 4.04 with respect to any Lender which results in such Lender charging to
either Borrower increased costs materially in excess of the average costs being charged by the
other Lenders in respect of such contingency or (z) in the case of a refusal by a Lender to consent
to a proposed change, waiver, discharge or termination with respect to this Agreement which has
been approved by the Required Lenders as provided in Section 13.12(b), the U.S. Borrower or the
Bermuda Borrower, as the case may be, shall have the right, in accordance with the requirements of
Section 13.04(b), if no Event of Default then exists or would exist after giving effect to such
replacement, to replace such Lender (the “Replaced Lender”) with one or more Eligible
Transferees (collectively, the “Replacement Lender”), none of whom shall constitute a
Defaulting Lender at the time of such replacement and each of whom shall be reasonably acceptable
to the Administrative Agent or, in the case of a replacement as provided in Section 13.12(b) where
the consent of the respective Lender is required with respect to less than all Tranches of
its Loans or Commitments, at the option of the applicable Borrower, to replace only the Commitments
and/or outstanding Loans of such Lender in respect of each Tranche where the consent of such Lender
would otherwise be individually required, with identical Commitments and/or Loans of the respective
Tranche provided by the Replacement Lender; provided that:

     (i) at the time of any replacement pursuant to this Section 1.13, the Replacement
Lender shall enter into one or more Assignment and Assumption Agreements pursuant to Section
13.04(b) (and with all fees payable pursuant to said Section 13.04(b) to be paid by the
Replacement Lender) pursuant to which the Replacement Lender shall acquire all of the
Commitments and all then outstanding Loans (or, in the case of the replacement of
less than all the Tranches of Commitments and outstanding Loans of the respective
Replaced Lender, all the Commitments and/or all then outstanding Loans relating to the
Tranche or Tranches with respect to which such Lender is being replaced) of, and all
participations in all then outstanding Letters of Credit and Bank Guaranties issued pursuant
to the respective Tranche or Tranches where the respective Lender is being replaced by, the
Replaced Lender and, in connection therewith, shall pay to the Replaced Lender in respect
thereof an amount equal to the sum (in the relevant currency or currencies) of (A) an amount
equal to the principal of, and all accrued interest on, all then outstanding Loans of the
respective Replaced Lender under each Tranche with respect to which such Replaced Lender is
being replaced, (B) an amount equal to the then remaining Credit-Linked Deposit of such
Lenders (if any) at such time, (C) an amount equal to all Unpaid Drawings (if any) under
each Tranche with respect to which the respective Replaced Lender is being replaced, in each
case that have been funded by (and not reimbursed to) such Replaced Lender (including by way
of application of such Lender’s Credit-Linked Deposit) at such time, together with all then
unpaid interest with respect thereto at such time, (D) an amount equal to all Unreimbursed
Payments (if any) under
each Tranche with respect to which the respective Replaced Lender is being replaced, in
each case that have been funded by (and not reimbursed to) such Replaced Lender (including
by way of application of such Lender’s Credit-Linked Deposit) at such time, together with
all then unpaid interest with respect thereto at such time, and (E) an amount equal to all
accrued, but theretofore unpaid, Fees owing to the Replaced Lender (but only with re-

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spect to
the relevant Tranche or Tranches, in the case of the replacement of less than all
Tranches then held by the respective Replaced Lender) pursuant to Section 3.01; and

     (ii) all obligations of the Borrowers owing to the Replaced Lender in respect of each
Tranche where such Replaced Lender is being replaced (other than those specifically
described in clause (i) above in respect of which the assignment purchase price has been, or
is concurrently being, paid) shall be paid in full to such Replaced Lender concurrently with
such replacement.

Upon the execution of the respective Assignment and Assumption Agreement, the payment of amounts
referred to in clauses (i) and (ii) above, recordation of the assignment on the Register by the
Administrative Agent pursuant to Section 13.17 and, if so requested by the Replacement Lender (when
applicable) pursuant to Section 1.05(f), delivery to the Replacement Lender of the appropriate Note
or Notes executed by the respective Borrower, (x) the Replacement Lender shall become a Lender
hereunder and, unless the respective Replaced Lender continues to have outstanding Loans or any
Commitment hereunder, the Replaced Lender shall cease to constitute a Lender hereunder, except with
respect to indemnification provisions under this Agreement (including, without limitation, Sections
1.10, 1.11, 2A.06, 2B.06, 4.04, 13.01 and 13.06), which shall survive as to such Replaced Lender
and (y) in the case of the replacement of any Credit-Linked Commitment pursuant to this Section
1.13, the CL Percentages of the CL Lenders shall be automatically adjusted at such time to give
effect to such replacement. The Credit-Linked Deposit funded by any CL Lender shall not be
released in connection with any assignment of its Credit-Linked Commitment, but shall instead be
purchased by the relevant assignee (at par, as described in clause (i)(B) of the proviso above) and
continue to be held by the Deposit Bank for application (if not already applied) pursuant to
Sections 2A.04 and 2B.04 in respect of such assignee’s obligations under the Credit-Linked
Commitment assigned to it.

          1.14 Special Provisions Applicable to Lenders Upon the Occurrence of a Sharing Event.
(a) On the date of the occurrence of any Sharing Event, or promptly thereafter, (i) if there
have been any Drawings pursuant to Letters of Credit which have not yet been reimbursed to the
respective Issuing Lender pursuant to Section 2A, the respective Issuing Lender shall seek
reimbursement therefor as permitted pursuant to Section 2A.04(c) and (ii) if there have been any
Bank Guaranty Payments pursuant to Bank Guaranties which have not yet been reimbursed to the
respective Bank Guaranty Issuer pursuant to Section 2B, the respective Bank Guaranty Issuer shall
seek reimbursement therefor as permitted pursuant to Section 2B.04(c)). After giving effect to the
actions taken (or required to be taken) pursuant to the preceding sentence, the Administrative
Agent shall request that the Deposit Bank return (in which case the Deposit Bank shall return) to
the Administrative Agent who shall, in turn, return to the CL Lenders amounts (if
any) representing Credit-Linked Deposits which are permitted to be returned to the CL Lenders
at such time in accordance with Section 2C.04(a) hereof.

          (b) (i) Upon the occurrence of a Sharing Event, but after giving effect to the actions
required to be taken pursuant to preceding clause (a) of this Section 1.14 (although any failure by
the Administrative Agent, the Deposit Bank or any Lender to take the actions required of it
pursuant to said clause shall not prevent the actions required hereby, but the respective
Administrative Agent, Deposit Bank or Lender shall continue to be obligated to perform its
obligations as required above and the Administrative Agent shall be authorized to make any
equitable

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adjustments as may be deemed necessary or desirable pursuant to the provisions of this
Section 1.14(b)), the Lenders shall purchase participations from other Lenders in each of the
respective Tranches of Loans and the CL Tranche (including, in the case of the CL Tranche,
participations in each outstanding Letter of Credit, each Unpaid Drawing owing to the CL Lenders,
each outstanding Bank Guaranty, each Unreimbursed Payment owing to the CL Lenders and the
Credit-Linked Deposits of the various CL Lenders) so that, after giving effect to such purchases,
each Lender shall have the same credit exposure in each Tranche at such time (including, (x) in the
case of the Total Credit-Linked Commitment, an interest in each outstanding Letter of Credit, each
Unpaid Drawing owing to the CL Lenders, each outstanding Bank Guaranty, each Unreimbursed Payment
owing to the CL Lenders and the Credit-Linked Deposits of the various CL Lenders and (y) a
participation in the Credit-Linked Deposits established pursuant to Section 2C.01 and all amounts
deposited in the Credit-Linked Deposit Account from time to time or to be returned to the Lenders
in accordance with the provisions of Section 2), whether or not such Lender shall previously have
participated therein, equal to such Lender’s Exchange Percentage thereof.

          (ii) The foregoing actions pursuant to immediately preceding clause (i) shall be accomplished
pursuant to this Section 1.14(b) through purchases and sales of participations in the various
Tranches as required hereby, and at the request of the Administrative Agent each Lender hereby
agrees to enter into customary participation agreements approved by the Administrative Agent to
evidence same. All purchases and sales of participations pursuant to this Section 1.14(b) shall be
made in Dollars. Without limiting the foregoing, it is understood and agreed that, pursuant to
this Section 1.14(b), the various CL Lenders may be selling participations to the other Lenders in
their Credit-Linked Deposits (after giving effect to the actions required on, or promptly
following, the occurrence of the Sharing Event pursuant to Section 1.14(a)), and in connection
therewith each CL Lender shall be paid, in immediately available funds in Dollars, amounts equal to
the percentage participations sold by them in their Credit-Linked Deposits, which immediately
available funds shall be paid by the Lenders acquiring participations therein. At the request of
the Administrative Agent, each Lender which has sold participations in any of its Tranches as
provided above (through the Administrative Agent) will deliver to each Lender (through the
Administrative Agent) which has so purchased a participation therein a participation certificate in
the appropriate amount as determined in conjunction with the Administrative Agent. It is
understood that the amount of immediately available funds delivered by each Lender shall be
calculated on a net basis, giving effect to both the sales and purchases of participations by the
various Lenders as required above.

          (c) In the event that any Lender shall default on its obligation to pay over any amount to the
Administrative Agent in respect of any Letter of Credit or any Bank Guaranty as
provided in Section 1.14(b), each other Lender shall have a claim against such defaulting
Lender (and not against the Administrative Agent, any Issuing Lender, any Bank Guaranty Issuer, the
Deposit Bank or any other Lender) for any damages sustained by it as a result of such default.

          (d) All determinations by the Administrative Agent pursuant to this Section 1.14 shall be made
by it in accordance with the provisions herein and with the intent being to equitably share the
credit risk for all Tranches (and the Credit-Linked Deposits) hereunder in accordance with the
provisions hereof. Absent manifest error, all determinations by the Administrative Agent hereunder
shall be binding on the Borrowers, each of the Lenders, each Issuing

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Lender, each Bank Guaranty
Issuer and the Deposit Bank. The Administrative Agent shall have no liability to either Borrower,
any Lender, any Issuing Bank, any Bank Guaranty Issuer or the Deposit Bank for any determinations
made by it hereunder except to the extent resulting from the Administrative Agent’s gross
negligence or willful misconduct (as determined by a court of competent jurisdiction in a final and
non-appealable decision).

          (e) Upon, and after, the occurrence of a Sharing Event (i) no further Credit Events shall be
made or occur, and (ii) all Credit-Linked Commitments and all Incremental Term Loan Commitments (if
any) shall be automatically terminated. Notwithstanding anything to the contrary contained above,
the failure of any Lender to purchase its participating interests as required above in any
extensions of credit (and/or any Credit-Linked Deposits) upon the occurrence of a Sharing Event
shall not relieve any other Lender of its obligation hereunder to purchase its participating
interests in a timely manner, but no Lender shall be responsible for the failure of any other
Lender to purchase the participating interest to be purchased by such other Lender on any date.

          (f) If any amount required to be paid by any Lender pursuant to this Section 1.14 is not paid
to the Administrative Agent on the date upon which the Sharing Event occurred, such Lender shall,
in addition to such aforementioned amount, also pay to the Administrative Agent on demand an amount
equal to the product of (i) the amount so required to be paid by such Lender for the purchase of
its participations, (ii) the daily average Federal Funds Rate, during the period from and including
the date of request for payment to the date on which such payment is immediately available to the
Administrative Agent and (iii) a fraction the numerator of which is the number of days that elapsed
during such period and the denominator of which is 360. A certificate of the Administrative Agent
submitted to any Lender with respect to any amounts payable under this Section 1.14 shall be
conclusive in the absence of manifest error. Amounts payable by any Lender pursuant to this
Section 1.14 shall be paid to the Administrative Agent for the account of the relevant Lenders,
provided that, if the Administrative Agent (in its sole discretion) has elected to fund on
behalf of such other Lender the amounts owing to such other Lenders, then the amounts shall be paid
to the Administrative Agent for its own account.

          (g) Whenever, at any time after the relevant Lenders have received from any other Lenders
purchases of participations pursuant to this Section 1.14, the various Lenders receive any payment
on account thereof, such Lenders will distribute to the Administrative Agent, for the account of
the various Lenders participating therein, such Lenders’ participating interests in such amounts
(appropriately adjusted, in the case of interest payments, to reflect the period of time during
which such participations were outstanding) in like funds as received, provided,
however, that in the event that such payment received by any Lenders is required to be
returned,
the Lenders who received previous distributions in respect of their participating interests
therein will return to the respective Lenders any portion thereof previously so distributed to them
in like funds as such payment is required to be returned by the respective Lenders.

          (h) Each Lender’s obligation to purchase participating interests pursuant to this Section 1.14
shall be absolute and unconditional and shall not be affected by any circumstance including,
without limitation, (i) any setoff, counterclaim, recoupment, defense or other right which such
Lender may have against any other Lender, any Credit Agreement Party or any other Person for any
reason whatsoever, (ii) the occurrence or continuance of any Default or

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Event of Default, (iii) any
adverse change in the condition (financial or otherwise) or prospects of any Credit Agreement Party
or any other Person, (iv) any breach of this Agreement or any other Credit Document by any Credit
Agreement Party, any Lender, any Issuing Lender, any Bank Guaranty Issuer, any Agent, the Deposit
Bank or any other Person, or (v) any other circumstance, happening or event whatsoever, whether or
not similar to any of the foregoing.

          (i) Notwithstanding anything to the contrary contained elsewhere in this Agreement, upon any
purchase of participations as required above, (i) the relevant Borrower shall pay to each Lender
granting any participations as required above, for the account of the respective Lender which has
purchased such participations, any increased costs and indemnities (including, without limitation,
pursuant to Sections 1.11, 1.12, 2A.06, 2B.06 and 4.04) to the same extent as if such Lender which
has purchased such participations were the direct Lender as opposed to a participant therein, which
increased costs shall be calculated without regard to Section 1.13, Section 13.04(a) or the
penultimate sentence of Section 13.04(b) and (ii) each Lender which has sold such participations
shall be entitled to receive from the relevant Borrower indemnification from and against any and
all taxes imposed as a result of the sale of the participations pursuant to this Section 1.14.
Each Borrower acknowledges and agrees that, upon the occurrence of a Sharing Event and after giving
effect to the requirements of this Section 1.14, increased Taxes may be owing by it pursuant to
Section 4.04, which Taxes shall be paid (to the extent provided in Section 4.04) by the respective
Borrower or Borrowers, without any claim that the increased Taxes are not payable because same
resulted from the participations effected as otherwise required by this Section 1.14.

          1.15 Incremental Term Loan Commitments.
(a) So long as the Incremental Term Loan Commitment Request Requirements are satisfied at the
time of the delivery of the request referred to below, each Borrower shall have the right, in
consultation and coordination with the Administrative Agent as to all of the matters set forth
below in this Section 1.15, but without requiring the consent of any of the Lenders, to request, at
any time and from time to time after the Restatement Effective Date and prior to the date which is
12 months prior to the then latest Maturity Date, that one or more Lenders (and/or one or more
other Persons which are Eligible Transferees and which will become Lenders) provide Incremental
Term Loan Commitments to such Borrower and, subject to the terms and conditions contained in this
Agreement and in the respective Incremental Term Loan Commitment Agreement, make Incremental Term
Loans pursuant thereto; it being understood and agreed, however, that (i) no Lender shall be
obligated to provide an Incremental Term Loan Commitment as a result of any such request by such
Borrower, and until such time, if any, as such Lender has agreed in its sole discretion to provide
an Incremental Term Loan Commitment and
executed and delivered to the Administrative Agent an Incremental Term Loan Commitment
Agreement as provided in clause (b) of this Section 1.15 such Lender shall not be obligated to fund
any Incremental Term Loans, (ii) any Lender (including any Eligible Transferee who will become a
Lender) may so provide an Incremental Term Loan Commitment without the consent of any other Lender,
(iii) each Tranche of Incremental Term Loan Commitments shall be made available to a single
Incremental Term Loan Borrower and shall be denominated in Dollars, (iv) the amount of each Tranche
of Incremental Term Loan Commitments shall be in a minimum aggregate amount for all Lenders which
provide an Incremental Term Loan Commitment under such Tranche of Incremental Term Loans (including
Eligible Transferees who will become Lenders) of at least $25,000,000, (v) the aggregate amount of
all Incremental Term Loan Commitments provided pursuant to this Section 1.15

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shall not exceed the
Maximum Incremental Term Loan Commitment Amount (it being understood and agreed, however, to the
extent that any such Incremental Term Loan Commitments are obtained but later expire, terminate or
are voluntarily reduced in each case without being utilized, the amount of such Incremental Term
Loan Commitments so expired, terminated or voluntarily reduced may again be available to be
obtained under this Section 1.15 within the limits set forth herein), (vi) the up-front fees and,
if applicable, any unutilized commitment fees and/or other fees, payable in respect of each
Incremental Term Loan Commitment shall be separately agreed to by the respective Incremental Term
Loan Borrower and each Incremental Term Loan Lender (and with all such fees to be disclosed in
writing by the respective Incremental Term Loan Borrower to the Administrative Agent), (vii) each
Tranche of Incremental Term Loans shall have (I) (x) an Incremental Term Loan Maturity Date of no
earlier than the then latest Maturity Date as then in effect, and (y) a Weighted Average Life to
Maturity of no less than the Weighted Average Life to Maturity as then in effect for the
Tranche of then outstanding Loans with the longest Weighted Average Life to Maturity and (II) an
“interest rate” or “interest rates” applicable to such Tranche of Incremental Term Loans (which,
for such purposes only, shall be determined by the Administrative Agent and deemed to include all
upfront or similar fees or original issue discount (amortized over the life of such Incremental
Term Loans) payable to all Lenders providing such Incremental Term Loans, but exclusive of any
arrangement, structuring or other fees payable in connection therewith that are not shared with all
Lenders providing such Tranche of Incremental Term Loans) that may (at such time or from time to
time thereafter) exceed the “interest rates” applicable to the Term Loans provided that, in
the event that the “interest rate” excess applicable to such Tranche of Incremental Term Loans
shall at such time be greater than 0.50% (or its equivalent), the Applicable Margin for the
Tranche B Term Loans, the Tranche C Term Loans and each other then existing Tranche of Incremental
Term Loans shall be increased by such amounts, and for such time periods, as are needed so that at
no time shall the “interest rate” for the respective new Tranche of Incremental Term Loans
(calculated as described above) exceed the relevant interest rates applicable to the then existing
Tranches of Term Loans by more than 0.50%; provided further, that, at no time shall
the provisions of this Section 1.15 be construed to result in any decrease in any interest rate
applicable to any then existing Tranche of Term Loans (including after giving effect to any prior
increases in interest rates applicable thereto pursuant to the preceding provisions of this Section
1.15), (viii) the proceeds of all Incremental Term Loans shall be used only for the purposes
permitted by Section 7.05(a), (ix) each Incremental Term Loan Commitment Agreement shall
specifically designate, with the approval of the Administrative Agent, the Tranche of the
Incremental Term Loan Commitments being provided thereunder (which Tranche shall be a new Tranche
(i.e., not the same as any existing Tranche of Incremental
Term Loans, Incremental Term Loan Commitments or other Term Loans) unless the requirements of
Section 1.15(c) are satisfied), (x) all Incremental Term Loans (and all interest, fees and other
amounts payable thereon) shall be Obligations under this Agreement and the other applicable Credit
Documents and shall be secured by the relevant Security Documents, and guaranteed under each
relevant Guaranty, on a pari passu basis with all other Loans of the applicable
Borrower secured
 by each such Security Agreement and guaranteed under each such Guaranty, and (xi)
each Lender (including any Eligible Transferee who will become a Lender) agreeing to provide an
Incremental Term Loan Commitment pursuant to an Incremental Term Loan Commitment Agreement shall,
subject to the satisfaction of the relevant conditions set forth in this Agreement, make
Incremental Term Loans under the Tranche specified in such Incremental Term Loan Commitment
Agreement as provided in Section 1.01(c) and

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such Loans shall thereafter be deemed to be
Incremental Term Loans under such Tranche for all purposes of this Agreement and the other
applicable Credit Documents.

          (b) At the time of the provision of Incremental Term Loan Commitments pursuant to this Section
1.15, the respective Incremental Term Loan Borrower, the Administrative Agent and each such Lender
or other Eligible Transferee which agrees to provide an Incremental Term Loan Commitment (each, an
“Incremental Term Loan Lender”) shall execute and deliver to the Administrative Agent an
Incremental Term Loan Commitment Agreement substantially in the form of Exhibit P (appropriately
completed), with the effectiveness of the Incremental Term Loan Commitment provided therein to
occur on the date set forth in such Incremental Term Loan Commitment Agreement, which date in any
event shall be no earlier than the date on which (w) all fees required to be paid in connection
therewith at the time of such effectiveness shall have been paid (including, without limitation,
any agreed upon up-front or arrangement fees owing to the Administrative Agent), (x) all
Incremental Term Loan Commitment Requirements are satisfied, (y) all other conditions set forth in
this Section 1.15 shall have been satisfied, and (z) all other conditions precedent that may be set
forth in such Incremental Term Loan Commitment Agreement shall have been satisfied. The
Administrative Agent shall promptly notify each Lender as to the effectiveness of each Incremental
Term Loan Commitment Agreement, and at such time, (i) Schedule I shall be deemed modified to
reflect the revised Incremental Term Loan Commitments of the affected Lenders and (ii) to the
extent requested by any Incremental Term Loan Lender, Incremental Term Notes will be issued at the
respective Incremental Term Loan Borrower’s expense, to such Incremental Term Loan Lender, to be in
conformity with the requirements of Section 1.05(d) (with appropriate modification) to the extent
needed to reflect the new Incremental Term Loans made by such Incremental Term Loan Lender.

          (c) Notwithstanding anything to the contrary contained above in this Section 1.15, the
Incremental Term Loan Commitments provided by an Incremental Term Loan Lender or Incremental Term
Loan Lenders, as the case may be, pursuant to each Incremental Term Loan Commitment Agreement shall
constitute a new Tranche, which shall be separate and distinct from the existing Tranches pursuant
to this Agreement (with a designation which may be made in letters (i.e., A, B, C, etc.),
numbers (1, 2, 3, etc.) or a combination thereof (i.e., A-1, A-2, B-1, B-2, C-1, C-2,
etc.), provided that, with the consent of the Administrative Agent, the parties to a given
Incremental Term Loan Commitment Agreement may specify therein that the respective Incremental Term
Loans made pursuant thereto shall constitute part of, and be added to, an existing Tranche of
Incremental Term Loans or to the outstanding Tranche of Tranche B Term Loans or Tranche C Term
Loans, in either case so long as the following requirements are satisfied:

     (i) the Incremental Term Loans to be made pursuant to such Incremental Term Loan
Commitment Agreement shall have the same Borrower, shall have the same Maturity Date and
shall have the same Applicable Margin as the Tranche of Term Loans to which the new
Incremental Term Loans are being added;

     (ii) the new Incremental Term Loans shall have the same Scheduled Repayment dates as
then remain with respect to the Tranche to which such new Incremental Term Loans are being
added (with the amount of each Scheduled Repayment applicable to such new Incremental Term
Loans to be the same (on a proportionate basis) as is theretofore applicable to the Tranche
to which such new Incremental Term Loans are being

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added, thereby increasing the amount of
each then remaining Scheduled Repayment of the respective Tranche proportionately); and

     (iii) on the date of the making of such new Incremental Term Loans, and notwithstanding
anything to the contrary set forth in Section 1.09, such new Incremental Term Loans shall be
added to (and form part of) each Borrowing of outstanding Term Loans of the respective
Tranche on a pro rata basis (based on the relative sizes of the various
outstanding Borrowings), so that each Lender will participate proportionately in each then
outstanding Borrowing of Term Loans of the respective Tranche.

To the extent the provisions of preceding clause (iii) require that Lenders making new Incremental
Term Loans add such Incremental Term Loans to the then outstanding Borrowings of Eurodollar Loans
of such Tranche, it is acknowledged that the effect thereof may result in such new Incremental Term
Loans having short Interest Periods (i.e., an Interest Period that began during an Interest
Period then applicable to outstanding Eurodollar Loans of such Tranche and which will end on the
last day of such Interest Period). In connection therewith, the respective Incremental Term Loan
Borrower may agree, in the respective Incremental Term Loan Commitment Agreement, to compensate the
Lenders making the new Incremental Term Loans of the respective Tranche for funding Eurodollar
Loans during an existing Interest Period on such basis as may be agreed by such Incremental Term
Loan Borrower and the respective Incremental Term Loan Lender or Incremental Term Loan Lenders.

          Section 2. Letters of Credit; Bank Guaranties; Etc.

          Section 2A. Letters of Credit.

          2A.01 Letters of Credit. (a) Subject to and upon the terms and conditions herein set
forth, a Borrower may request an Issuing Lender, at any time and from time to time on and after the
Restatement Effective Date and prior to the fifth Business Day (or the 30th day in the case of
Trade Letters of Credit) preceding the CL Maturity Date, to issue, (x) for the account of the U.S.
Borrower (in the case of requests made by it) or the account of the Bermuda Borrower (in the case
of requests made by it) and for the benefit of any holder (or any trustee, agent or other similar
representative for any such holders) of L/C Supportable Indebtedness of the respective Account
Party or any of its or their Wholly-Owned Subsidiaries, irrevocable standby letters of credit in a
form customarily used by such Issuing Lender or in such other form as has been approved by such
Issuing Lender (each such standby
letter of credit, a “Standby Letter of Credit”) in support of such L/C Supportable
Indebtedness and (y) for the account of the respective Account Party and for the benefit of sellers
of goods to the respective Account Party or any of its or their Subsidiaries in the ordinary course
of business, irrevocable sight trade letters of credit in a form customarily used by such Issuing
Lender or in such other form as has been approved by such Issuing Lender (each such trade letter of
credit, a “Trade Letter of Credit”, and each such Standby Letter of Credit and Trade Letter of
Credit, a “Letter of Credit” and, collectively, the “Letters of Credit”). All Letters of Credit
shall be issued on a sight basis only and shall be denominated in Dollars or, subject to the
provisions of Section 2C.03, an Alternative Currency. Each Letter of Credit shall be deemed to
constitute a utilization of the Credit-Linked Commitments and shall, subject to the provisions of
Section 1.14 if a Sharing Event occurs, be participated in (as more fully described in following
Section 2A.04(a)) by the CL Lenders in accor-

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dance with their respective CL Percentages (subject to
the provisions of Section 2C to the extent applicable). All Letters of Credit shall be denominated
in Dollars or an Alternative Currency. The Bermuda Borrower shall have no liability with respect
to any U.S. Borrower Letter of Credit which may be issued to the U.S. Borrower.

          (b) Subject to and upon the terms and conditions set forth herein, each Issuing Lender hereby
agrees (subject to Section 2C.03, to the extent applicable in the case of Non-Dollar Denominated
Letters of Credit) that it will, at any time and from time to time on and after the Restatement
Effective Date and prior to (i) the fifth Business Day in the case of Standby Letters of Credit, or
(ii) the 30th day, in the case of Trade Letters of Credit, preceding the CL Maturity Date,
following its receipt of the respective Letter of Credit Request, issue for the account of the
respective Account Party one or more Letters of Credit, (x) in the case of Trade Letters of Credit,
in support of trade obligations of the respective Account Party or any of its or their Subsidiaries
that arise in the ordinary course of business or (y) in the case of Standby Letters of Credit, in
support of such L/C Supportable Indebtedness as is permitted to remain outstanding without giving
rise to a Default or Event of Default hereunder; provided that the respective Issuing
Lender shall be under no obligation to issue any Letter of Credit if at the time of such issuance:

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

     (ii) such Issuing Lender, prior to the issuance of such Letter of Credit, shall have
received written notice from any Credit Agreement Party or the Required Lenders of the type
described in clause (iv) of Section 2A.01(c) or the last sentence of Section 2A.03(b).

          (c) Notwithstanding the foregoing, (i) no Letter of Credit shall be issued at any time when
the Aggregate CL Exposure exceeds (or would after giving effect to such issuance exceed) either (x)
the Total Credit-Linked Commitment at such time or (y) the aggregate amount of the Credit-Linked
Deposits in the Credit-Linked Deposit Account at such time, (ii) (x) each Standby Letter of Credit
shall by its terms terminate on or before the date which occurs 12 months after the date of the
issuance thereof (although any such Standby Letter of Credit may be extendable for successive
periods of up to 12 months, but not beyond the fifth Business Day preceding the CL Maturity Date,
on terms acceptable to the Issuing Lender thereof), provided that a Standby Letter of
Credit issued to support obligations under any Specified Existing Ship Lease may terminate by its
terms on or prior to the earlier to occur of (1) the date which occurs 24 months after the date of
the issuance thereof and (2) the fifth Business Day preceding the CL

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Maturity Date and (y) each
Trade Letter of Credit shall by its terms terminate on or before the date occurring not later than
180 days after such Trade Letter of Credit’s date of issuance, (iii) (x) no Standby Letter of
Credit shall have an expiry date occurring later than the fifth Business Day preceding the CL
Maturity Date and (y) no Trade Letter of Credit shall have an expiry date occurring later than 30
days prior to the CL Maturity Date and (iv) no Issuing Lender will issue any Letter of Credit after
it has received written notice from any Credit Agreement Party or the Required Lenders stating that
a Default or an Event of Default exists until such time as such Issuing Lender shall have received
a written notice of (x) rescission of such notice from the party or parties originally delivering
the same or (y) a waiver of such Default or Event of Default by the Required Lenders.

          (d) Part A of Schedule XI hereto contains a description of certain letters of credit issued
(or deemed issued) pursuant to the Original Credit Agreement and outstanding on the Restatement
Effective Date (and setting forth, with respect to each such letter of credit, (i) the name of the
issuing lender, (ii) the letter of credit number, (iii) the name(s) of the account party or account
parties, (iv) the stated amount (including the currency in which such letter of credit is
denominated, which shall be Dollars or an Alternative Currency), (v) the name of the beneficiary,
(vi) the expiry date and (vii) whether such letter of credit constitutes a standby letter of credit
or a trade letter of credit). Each such letter of credit, including any extension or renewal
thereof (each, as amended from time to time in accordance with the terms thereof and hereof, an
“Existing Letter of Credit”) shall constitute a “Letter of Credit” and a “Bermuda Borrower
Letter of Credit” or a “U.S. Borrower Letter of Credit” (as set forth on Part A of Schedule XI)
for all purposes of this Agreement and issued, for purposes of Section 2A.04(a), on the Restatement
Effective Date. Any Lender hereunder (and any of such Lender’s Affiliates and/or branches) which
has issued an Existing Letter of Credit shall constitute an “Issuing Lender” for all purposes of
this Agreement.

          2A.02 Minimum Stated Amount. The Stated Amount of each Letter of Credit upon issuance
shall be not less than (x) in the case of a Dollar Denominated Letter of Credit, $250,000,
(y) in the case of a Euro Denominated Letter of Credit, €150,000 and (z) in the case of a Sterling
Denominated Letter of Credit, £150,000, or in each case such lesser amount as is reasonably
acceptable to the respective Issuing Lender.

          2A.03 Letter of Credit Requests. (a) Whenever an Account Party desires that a Letter
of Credit be issued for its account, such Account Party shall give the Administrative Agent (at the appropriate Notice
Office) and the respective Issuing Lender at least 3 Business Days’ (or such shorter period as is
acceptable to such Issuing Lender in any given case) written notice prior to the proposed date of
issuance (which shall be a Business Day). Each notice shall be in the form of Exhibit C-1 (each, a
“Letter of Credit Request”), including, without limitation, by specifying: (i) whether the
requested Letter of Credit shall constitute a U.S. Borrower Letter of Credit or a Bermuda Borrower
Letter of Credit; and (ii) the currency in which the requested Letter of Credit is to be
denominated (which shall be Dollars or, to the extent permitted hereunder, an Alternative Currency.
Each Letter of Credit Request shall include any other documents as such Issuing Lender customarily
requires in connection therewith.

          (b) The making of each Letter of Credit Request shall be deemed to be a representation and
warranty by the applicable Account Party that such Letter of Credit may be is-

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sued in accordance with, and will not violate the requirements of, Section 2A.01(c). Unless the respective Issuing
Lender has received notice from the Required Lenders before it issues a Letter of Credit that one
or more of the applicable conditions specified in Section 6, as the case may be, are not then
satisfied, or that the issuance of such Letter of Credit would violate Section 2A.01(c), then such
Issuing Lender may issue the requested Letter of Credit for the account of the respective Account
Party in accordance with such Issuing Lender’s usual and customary practices.

          2A.04 Letter of Credit Participations. (a) Immediately upon the issuance by any
Issuing Lender of any Letter of Credit, but subject to Section 2C.03 to the extent applicable in
the case of Non-Dollar Denominated Letters of Credit, such Issuing Lender shall be deemed to have
sold and transferred to each CL Lender (each such Lender with respect to any Letter of Credit, in
its capacity under this Section 2A.04, a “L/C Participant”), and each such L/C Participant
shall be deemed irrevocably and unconditionally to have purchased and received from such Issuing
Lender, without recourse or warranty, an undivided interest and participation (each an “L/C
Participation”), in a percentage equal to such L/C Participant’s CL Percentage in such Letter
of Credit, and each Drawing made thereunder and the obligations of the respective Account Party
under this Agreement with respect thereto (although CL Facility Fees shall be payable directly to
the Administrative Agent for the account of the CL Lenders as provided in Section 3.01(a) and the
L/C Participants shall have no right to receive any portion of any Facing Fees or any
administration fees with respect to any such Letters of Credit) and any security therefor or
guaranty pertaining thereto. Upon any change in the Credit-Linked Commitments and, as a result
thereof, the CL Percentages of the CL Lenders pursuant to Section 1.13, or 13.04, it is hereby
agreed that with respect to all outstanding Letters of Credit and Unpaid Drawings relating thereto,
there shall be an automatic adjustment to the participations pursuant to this Section 2A.04 to
reflect the new CL Percentages of the CL Lenders. With respect to each Letter of Credit from time
to time outstanding, all calculations of the percentage participations therein of the various CL
Lenders shall be made from time to time by the Administrative Agent, which calculations shall be
conclusive absent manifest error. Furthermore, upon the occurrence of a Sharing Event and as more
fully set forth in Section 1.14, additional sub-participations may be required to be granted by the
various CL Lenders in their participations in outstanding Letters of Credit, in each case in
accordance with, and subject to the provisions of, Section 1.14.

          (b) In determining whether to pay under any Letter of Credit, the respective Issuing Lender
shall have no obligation relative to the other Lenders other than to confirm that any documents
required to be delivered under such Letter of Credit appear to have been delivered and that they
appear to substantially comply on their face with the requirements of such Letter of Credit. Any
action taken or omitted to be taken by any Issuing Lender under or in connection with any Letter of
Credit issued by it if taken or omitted in the absence of gross negligence or willful misconduct
(as determined by a court of competent jurisdiction in a final and non-appealable decision), shall
not create for such Issuing Lender any resulting liability to any Account Party or any Lender.

          (c) In the event that any Issuing Lender makes any payment or disbursement under any Letter of
Credit issued by it and the respective Account Party shall not have reimbursed such amount in full
to such Issuing Lender pursuant to Section 2A.05(a) by the date required by said Section 2A.05(a)
for such reimbursement, such Issuing Lender shall promptly no-

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tify the Administrative Agent, which
shall promptly notify each L/C Participant therein and the Deposit Bank of such failure, and each
CL Lender (including in its capacity as an L/C Participant) hereby irrevocably authorizes the
Deposit Bank (and the Deposit Bank hereby agrees) to reimburse such Issuing Lender for such amount
in Dollars (or, to the extent that the respective Unpaid Drawing is in an Alternative Currency, in
an amount equal to the Dollar Equivalent thereof, as determined by the Administrative Agent on the
date on which such payment or disbursement was made under the respective Letter of Credit) solely
from such CL Lender’s CL Percentage of the Credit-Linked Deposits on deposit with the Deposit Bank
in the Credit-Linked Deposit Account, in which case the Total Credit-Linked Commitment shall be
reduced by the amount so applied (with a corresponding reduction in the Credit-Linked Commitment of
each CL Lender equal to such CL Lender’s CL Percentage of such aggregate amount so applied);
provided that any portion of the Unpaid Drawings with respect to a Non-Dollar Denominated
Letter of Credit, which, because of currency fluctuations, represents amounts in excess of the
Total Credit-Linked Deposits (as more fully described in Section 2C.03), shall not be reimbursed
from Credit-Linked Deposits but shall instead be immediately repaid by the respective Account
Party. Furthermore, if any Specified Default or any Event of Default then exists, the respective
Issuing Lender may, with respect to any payment or disbursement made by it under any Letter of
Credit, request the Deposit Bank, in which case each CL Lender hereby irrevocably authorizes the
Deposit Bank (and the Deposit Bank hereby agrees), to reimburse the Issuing Lender, solely from
such CL Lender’s CL Percentage of the Credit-Linked Deposits on deposit in the Credit-Linked
Deposit Account with the Deposit Bank, for any Drawing under such Letter of Credit as provided in
the immediately preceding sentence (notwithstanding the date of reimbursement of any such Drawings
by the date required by Section 2A.05(a)), in which case the Total Credit-Linked Commitment shall
be reduced by the amount so applied as otherwise provided in the immediately preceding sentence,
and any amounts actually received pursuant to Section 2A.05(a) shall be applied to reimburse L/C
Participants as provided in following Section 2A.04(d).

          (d) Whenever any Issuing Lender receives a payment of a reimbursement obligation as to which
the Administrative Agent has received for the account of such Issuing Lender any payments from the
L/C Participants (or from the Deposit Bank on their behalf) pursuant to Section 2A.04(c) above,
such Issuing Lender shall, after paying itself any amounts owing to it as described in Section
2C.03 in the case of payments received with respect to Non-Dollar Denominated Letters of Credit,
pay (in same day funds in Dollars) to the Administrative
Agent (and the Administrative Agent shall promptly pay (in same day funds in Dollars) to each
L/C Participant which has paid its relevant CL Percentage thereof) an amount equal to such L/C
Participant’s share (based on the proportionate aggregate amount funded by such L/C Participant to
the aggregate amount funded by all L/C Participants) of the principal amount of such reimbursement
obligation and interest thereon accruing after the purchase of the respective participations.

          (e) Each Issuing Lender shall, promptly after the issuance of, or amendment or modification
to, a Standby Letter of Credit, give the Administrative Agent and the respective Account Party
written notice of such issuance, amendment or modification, as the case may be, and such notice
shall be accompanied by a copy of such Standby Letter of Credit, such amendment or such
modification, as the case may be. Promptly upon receipt of such notice, the Administrative Agent
shall notify each L/C Participant, in writing, of such issuance, amendment or modification and if
any L/C Participant shall so request, the Administrative Agent shall furnish

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said L/C Participant
with a copy of such Standby Letter of Credit, such amendment or such modification, as the case may
be.

          (f) Each Issuing Lender (other than DBAG) shall deliver to the Administrative Agent and the
Deposit Bank, promptly on the first Business Day of each week, by facsimile transmission, the
aggregate daily Stated Amount available to be drawn under the outstanding Trade Letters of Credit
issued by such Issuing Lender for the previous week.

          (g) The obligations of the L/C Participants to make payments to the Administrative Agent for
the account of the respective Issuing Lender with respect to Letters of Credit issued by it shall
be irrevocable and not subject to counterclaim, set-off or other defense or any other qualification
or exception whatsoever and shall be made in accordance with the terms and conditions of this
Agreement under all circumstances, including, without limitation, any of the following
circumstances:

     (i) any lack of validity or enforceability of this Agreement or any of the Credit
Documents;

     (ii) the existence of any claim, setoff, defense or other right which any Credit Party
or any of its Subsidiaries may have at any time against a beneficiary named in a Letter of
Credit, any transferee of any Letter of Credit (or any Person for whom any such transferee
may be acting), any Agent, any Lender, any Issuing Lender, any L/C Participant, or any other
Person, whether in connection with this Agreement, any Letter of Credit, the transactions
contemplated herein or any unrelated transactions (including any underlying transaction
between any Credit Party or any of its Subsidiaries and the beneficiary named in any such
Letter of Credit);

     (iii) any draft, certificate or any other document presented under any Letter of Credit
proving to be forged, fraudulent, invalid or insufficient in any respect or any statement
therein being untrue or inaccurate in any respect;

     (iv) the surrender or impairment of any security for the performance or observance of
any of the terms of any of the Credit Documents; or

     (v) the occurrence of any Default or Event of Default;

provided that the L/C Participants shall not be obligated to reimburse such Issuing Lender
for any wrongful payment made by such Issuing Lender under a Letter of Credit issued by it as a
result of deliberate acts or omissions constituting willful misconduct or gross negligence on the
part of such Issuing Lender (as determined by a court of competent jurisdiction in a final and
non-appealable decision). Any action taken or omitted to be taken by any Issuing Lender under or
in connection with any Letter of Credit shall not create for such Issuing Lender any resulting
liability to the L/C Participants or any other Person unless such action is taken or omitted to be
taken with gross negligence or willful misconduct (as determined by a court of competent
jurisdiction in a final and non-appealable decision).

          2A.05 Agreement to Repay Letter of Credit Drawings. (a) The U.S. Borrower hereby
agrees (in the case of U.S Borrower Letters of Credit), and the Bermuda Borrower hereby

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agrees (in
the case of Bermuda Borrower Letters of Credit) to reimburse the respective Issuing Lender, by
making payment in Dollars (or, if the respective Letter of Credit is denominated in an Alternative
Currency, in an amount equal to the Dollar Equivalent of the respective payment or disbursement, as
determined by the Administrative Agent on the date of such payment or disbursement) to the
Administrative Agent in immediately available funds at the Payment Office (or by making the payment
directly to such Issuing Lender at such location as may otherwise have been agreed upon by the
respective Account Party and such Issuing Lender), for any payment or disbursement (in the case of
any such payment or disbursement under any Non-Dollar Denominated Letter of Credit, taking the
Dollar Equivalent, as determined by the Administrative Agent, of the amount of the respective
payment or disbursement on the date upon which the respective payment or disbursement is made) made
by such Issuing Lender under any Letter of Credit issued by it (each such amount so paid until
reimbursed, an “Unpaid Drawing”), not later than the third Business Day after the
Administrative Agent or the Issuing Lender notifies the respective Account Party of such payment or
disbursement (provided that no such notice shall be required to be given if a Default or an
Event of Default under Section 10.05 shall have occurred and be continuing, in which case all such
Unpaid Drawings shall be due and payable immediately without presentment, demand, protest or notice
of any kind (all of which are hereby waived by the respective Account Party)), with interest on the
amount so paid or disbursed by such Issuing Lender, to the extent not reimbursed prior to 1:00 P.M.
(New York time), on the date of such payment or disbursement, from and including the date paid or
disbursed to but excluding the date such Issuing Lender is reimbursed by the respective Account
Party therefor at a rate per annum equal to the Base Rate in effect from time to time plus
the Applicable Margin for Tranche B Term Loans maintained as Base Rate Loans, as in effect from
time to time; provided, however, to the extent such amounts are not reimbursed
prior to 1:00 P.M. (New York time) on the third Business Day following the receipt by the Account
Party of notice to the respective Account Party by the Administrative Agent or the respective
Issuing Lender of such payment or disbursement (or, if sooner, from the date of occurrence of a
Default or an Event of Default under Section 10.05), interest shall thereafter accrue on the
amounts so paid or disbursed by such Issuing Lender (and until reimbursed by the respective Account
Party) at a rate per annum which is 2% in excess of the rate otherwise applicable to the respective
Unpaid Drawing as provided above, with all such interest payable pursuant to this Section 2A.05 to
be payable on demand. The respective Issuing Lender shall give the respective Account Party prompt
notice of each
Drawing under any Letter of Credit, provided that the failure to give, or any delay in
giving, any such notice shall in no way affect, impair or diminish the respective Account Party’s
obligations under this Agreement. The obligations of the respective Account Party to repay Unpaid
Drawings as required above shall not be reduced, or satisfied, in any respect by payments made to
the Issuing Lender with any amounts on deposit in the Credit-Linked Deposit Account or as otherwise
provided in Section 2A.04(c).

          (b) The obligations of the U.S. Borrower (with respect to U.S. Borrower Letters of Credit) and
the obligations of the Bermuda Borrower (with respect to Bermuda Borrower Letters of Credit) under
this Section 2A.05 to reimburse the respective Issuing Lender with respect to Unpaid Drawings
(including, in each case, interest thereon) shall be absolute and unconditional under any and all
circumstances and irrespective of any setoff, counterclaim or defense to payment which the
respective Account Party may have or have had against any Lender (including in its capacity as
Issuing Lender or as L/C Participant), including, without limitation, any defense based upon the
failure of any drawing under a Letter of Credit (each, a “Drawing”) to

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conform to the terms
of such Letter of Credit or any non-application or misapplication by the beneficiary of the
proceeds of such Drawing, the respective Issuing Lender’s only obligation to the respective Account
Party being to confirm that any documents required to be delivered under such Letter of Credit
appear to have been delivered and that they appear to substantially comply on their face with
requirements of such Letter of Credit; provided, however, that no Account Party
shall be obligated to reimburse any Issuing Lender for any wrongful payment made by such Issuing
Lender under a Letter of Credit issued by it as a result of deliberate acts or omissions
constituting willful misconduct or gross negligence on the part of such Issuing Lender (as
determined by a court of competent jurisdiction in a final and non-appealable decision). Any
action taken or omitted to be taken by any Issuing Lender under or in connection with any Letter of
Credit shall not create for such Issuing Lender any resulting liability to any Account Party unless
such action is taken or admitted to be taken with gross negligence or willful misconduct (as
determined by a court of competent jurisdiction in a final and non-appealable decision).

          2A.06 Increased Costs. If after the Restatement Effective Date, the Deposit Bank, any
Issuing Lender or any L/C Participant determines in good faith that the adoption or effectiveness
after the Restatement Effective Date of any applicable law, rule or regulation, order, guideline or
request or any change therein, or any change after the Restatement Effective Date in the
interpretation or administration thereof by any governmental authority, central bank or comparable
agency charged with the interpretation or administration thereof, or compliance by any Issuing
Lender or any L/C Participant with any request or directive (whether or not having the force of
law) by any such authority, central bank or comparable agency shall either (i) impose, modify or
make applicable any reserve, deposit, capital adequacy or similar requirement against Letters of
Credit issued by such Issuing Lender or such L/C Participant’s participation therein, or (ii)
impose on the Deposit Bank, any Issuing Lender or any L/C Participant any other conditions directly
or indirectly affecting this Agreement, the Credit-Linked Deposits, any Letter of Credit or such
L/C Participant’s participation therein; and the result of any of the foregoing is to increase the
cost to the Deposit Bank, such Issuing Lender or such L/C Participant of issuing, maintaining or
participating in the Credit-Linked Deposits or any Letter of Credit, or to reduce the amount of any
sum received or receivable by the Deposit Bank, such Issuing Lender or such L/C Participant
hereunder or under the other Credit Documents or reduce the rate of return on its capital with
respect to Credit-Linked
Deposits or Letters of Credit, then, upon written demand to the U.S. Borrower or the Bermuda
Borrower, as the case may be, by the Deposit Bank, such Issuing Lender or such L/C Participant (a
copy of which notice shall be sent by the Deposit Bank, such Issuing Lender or such L/C Participant
to the Administrative Agent), accompanied by the certificate described in the last sentence of this
Section 2A.06, the respective Account Party shall pay to the Deposit Bank, such Issuing Lender or
such L/C Participant for such increased cost or reduction. A certificate submitted to the relevant
Borrower by the Deposit Bank, such Issuing Lender or such L/C Participant, as the case may be (a
copy of which certificate shall be sent by the Deposit Bank, such Issuing Lender or such L/C
Participant to the Administrative Agent), setting forth in reasonable detail the basis for the
determination of such additional amount or amounts necessary to compensate the Deposit Bank, such
Issuing Lender or such L/C Participant as aforesaid shall be final and conclusive and binding on
such Account Party absent manifest error, although the failure to deliver any such certificate
shall not release or diminish such Account Party’s obligations to pay additional amounts pursuant
to this Section 2A.06 upon subsequent receipt of such certificate.

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          Section 2B. Bank Guaranties.

          2B.01 Bank Guaranties. (a) Subject to and upon the terms and conditions herein set
forth, a Borrower may request a Bank Guaranty Issuer, at any time and from time to time on and
after the Restatement Effective Date and prior to the tenth Business Day preceding the CL Maturity
Date, to issue, for the account of the U.S. Borrower (in the case of requests made by it) or the
account of the Bermuda Borrower (in the case of requests made by it) and for the benefit of any
holder (or any trustee, agent or other similar representative for any such holders) of B/G
Supportable Indebtedness of the respective Account Party or any of its or their Wholly-Owned
Subsidiaries, a bank guaranty in a form customarily used by such Bank Guaranty Issuer or in such
other form as has been approved by such Bank Guaranty Issuer (each such bank guaranty, a “Bank
Guaranty” and collectively, the “Bank Guaranties”) in support of such B/G Supportable Indebtedness
(it being understood and agreed that (i) the form of Bank Guaranties shall be subject to the
respective Bank Guaranty Issuer’s internal policies and procedures for the issuance of bank
guaranties and to applicable local law restrictions and regulations and (ii) each Bank Guaranty
Issuer may request the respective Account Party to accept such Bank Guaranty Issuer’s general
business conditions specifically applicable to its bank guaranty business prior to the issuance of
any Bank Guaranty). Each Bank Guaranty shall constitute a utilization of the Credit-Linked
Commitments and shall, subject to the provisions of Section 1.14 if a Sharing Event occurs, be
participated in (as more fully described in following Section 2B.04(a)) by the CL Lenders in
accordance with their respective CL Percentages. All Bank Guaranties shall be denominated in
Dollars or an Alternative Currency and shall expressly provide the maximum amount that may be paid
thereunder. Each Bank Guaranty shall constitute either a U.S. Borrower Bank Guaranty or a Bermuda
Borrower Bank Guaranty. The Bermuda Borrower shall have no liability with respect to any U.S.
Borrower Bank Guaranty which may be issued to the U.S. Borrower.

          (b) Subject to and upon the terms and conditions set forth herein, each Bank Guaranty Issuer
hereby agrees (subject to Section 2C.03, to the extent applicable in the case of Non-Dollar
Denominated Bank Guaranties) that it will, at any time and from time to time on and after the
Restatement Effective Date and prior to the tenth Business Day preceding the CL Maturity Date,
following its receipt of the respective Bank Guaranty Request, issue for the
account of the respective Account Party one or more Bank Guaranties, in support of such B/G
Supportable Indebtedness as is permitted to remain outstanding without giving rise to a Default or
Event of Default hereunder; provided that the respective Bank Guaranty Issuer shall be
under no obligation to issue any Bank Guaranty if at the time of such issuance:

     (i) any order, judgment or decree of any governmental authority or arbitrator shall
purport by its terms to enjoin or restrain such Bank Guaranty Issuer from issuing such Bank
Guaranty or any requirement of law applicable to such Bank Guaranty Issuer or any request or
directive (whether or not having the force of law) from any governmental authority with
jurisdiction over such Bank Guaranty Issuer shall prohibit, or request that such Bank
Guaranty Issuer refrain from, the issuance of bank guaranties generally or such Bank
Guaranty in particular or shall impose upon such Bank Guaranty Issuer with respect to such
Bank Guaranty any restriction or reserve or capital requirement (for which such Bank
Guaranty Issuer is not otherwise compensated) not in effect on the Restatement Effective
Date, or any unreimbursed loss, cost or expense which was not appli-

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cable, in effect or known
to such Bank Guaranty Issuer as of the Restatement Effective Date and which such Bank
Guaranty Issuer in good faith deems material to it; or

     (ii) such Bank Guaranty Issuer, prior to the issuance of such Bank Guaranty, shall have
received written notice from any Credit Agreement Party or the Required Lenders prior to the
issuance of such Bank Guaranty of the type described in clause (v) of Section 2B.01(c) or
the last sentence of Section 2B.03(b).

          (c) Notwithstanding the foregoing, (i) no Bank Guaranty shall be issued at any time when the
Aggregate CL Exposure exceeds (or would after giving effect to such issuance exceed) either (x) the
Total Credit-Linked Commitment at such time or (y) the aggregate amount of the Credit-Linked
Deposits in the Credit-Linked Deposit Account at such time, and (ii) each Bank Guaranty shall by
its terms terminate on or before the date which occurs 12 months after the date of the issuance
thereof (although any such Bank Guaranty may be extendable for successive periods of up to 12
months, but not beyond the tenth Business Day preceding the CL Maturity Date, on terms acceptable
to the Bank Guaranty Issuer thereof), provided, however, that a Bank Guaranty shall
not be required to terminate by its terms on or before the twelve month anniversary of the date of
issuance thereof if the respective Account Party reasonably determines that the intended
beneficiary of such Bank Guaranty will not permit same to terminate as otherwise provided above,
(iii) no Bank Guaranty shall have an expiry date occurring later than the tenth Business Day
preceding the CL Maturity Date, provided, however, that a Bank Guaranty shall not
be required to have an expiry date as otherwise required above if the respective Account Party
reasonably determines that the beneficiary of such Bank Guaranty will not accept a Bank Guaranty
with an expiry date, (iv) each Bank Guaranty shall be denominated in Dollars or an Alternative
Currency and (v) no Bank Guaranty Issuer will issue any Bank Guaranty after it has received written
notice from any Credit Agreement Party or the Required Lenders stating that a Default or an Event
of Default exists until such time as such Bank Guaranty Issuer shall have received a written notice
of (x) rescission of such notice from the party or parties originally delivering the same or (y) a
waiver of such Default or Event of Default by the Required Lenders.

          (d) Part B of Schedule XI hereto contains a description of certain bank guaranties issued (or
deemed issued) pursuant to the Original Credit Agreement and outstanding on the Restatement
Effective Date (and setting forth, with respect to each such bank guaranty, (i) the name of the
bank guaranty issuer, (ii) the face amount (including the currency in which such bank guaranty is
denominated, which shall be Dollars or an Alternative Currency), (iii) the name of the beneficiary,
and (iv) the expiry date (if any)). Each such bank guaranty, including any extension or renewal
thereof (each, as amended from time to time in accordance with the terms thereof and hereof, an
“Existing Bank Guaranty”), shall constitute either a “Bermuda Borrower Bank Guaranty” or a
“U.S. Borrower Bank Guaranty” (as set forth on Part B of Schedule XI) for all purposes of this
Agreement and issued, for purposes of Section 2B.04(a), on the Restatement Effective Date. Any
Lender hereunder (and any of such Lender’s Affiliates and/or branches) which has issued an Existing
Bank Guaranty shall constitute a “Bank Guaranty Issuer” for all purposes of this Agreement.

          2B.02 Minimum Face Amount. The Face Amount of each Bank Guaranty upon issuance shall
be not less than (x) in the case of a Dollar Denominated Bank Guaranty, $250,000,

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(y) in the case of a Euro Denominated Bank Guaranty, €150,000 and (z) in the case of a Sterling
Denominated Bank Guaranty, £150,000, or in each case such lesser amount as is acceptable to the
respective Bank Guaranty Issuer.

          2B.03 Bank Guaranty Requests. (a) Whenever an Account Party desires that a Bank
Guaranty be issued for its account, such Account Party shall give the Administrative Agent (at the
appropriate Notice Office) and the respective Bank Guaranty Issuer at least 3 Business Days’ (or
such shorter period as is acceptable to such Bank Guaranty Issuer in any given case) written notice
prior to the proposed date of issuance (which shall be a Business Day). Each notice shall be in
the form of Exhibit C-2 (each, a “Bank Guaranty Request”), including, without limitation,
whether the requested Bank Guaranty shall constitute a U.S. Borrower Bank Guaranty or a Bermuda
Borrower Bank Guaranty and, by specifying the Available Currency in which the requested Bank
Guaranty is to be denominated. Each Bank Guaranty Request shall include any other documents as
such Bank Guaranty Issuer customarily requires in connection therewith.

          (b) The making of each Bank Guaranty Request shall be deemed to be a representation and
warranty by the U.S. Borrower or the Bermuda Borrower, as the case may be, that such Bank Guaranty
may be issued in accordance with, and will not violate the requirements of, Section 2B.01(c).
Unless the respective Bank Guaranty Issuer has received notice from the Required Lenders before it
issues a Bank Guaranty that one or more of the applicable conditions specified in Section 6, as the
case may be, are not then satisfied, or that the issuance of such Bank Guaranty would violate
Section 2B.01(c), then such Bank Guaranty Issuer may issue the requested Bank Guaranty for the
account of the respective Account Party in accordance with such Bank Guaranty Issuer’s usual and
customary practices.

          2B.04 Bank Guaranty Participations. (a) Immediately upon the issuance by any Bank
Guaranty Issuer of any Bank Guaranty, but subject to Section 2C.03 to the extent applicable in the
case of Non-Dollar Denominated Bank Guaranties, such Bank Guaranty Issuer shall be deemed to have
sold and transferred to each CL Lender (each such Lender with respect to any Bank Guaranty, in its
capacity under this Section 2B.04, a “B/G Participant”), and each such B/G Participant
shall be deemed irrevocably and unconditionally to have purchased and received from such Bank
Guaranty Issuer, without recourse or warranty, an undivided interest and participation (each a
“B/G Participation”), in a percentage equal to such B/G Participant’s CL Percentage in such
Bank Guaranty, each Bank Guaranty Payment made thereunder and the obligations of the respective
Account Party under this Agreement with respect thereto (although CL Facility Fees shall be payable
directly to the Administrative Agent for the account of the CL Lenders as provided in Section
3.01(a) and the B/G Participants shall have no right to receive any portion of any Fronting Fees or
any administration fees with respect to any such Bank Guaranties) and any security therefor or
guaranty pertaining thereto. Upon any change in the Credit-Linked Commitments and, as a result
thereof the CL Percentages, of the CL Lenders pursuant to Section 1.13 or 13.04, it is hereby
agreed that, with respect to all outstanding Bank Guaranties and Unreimbursed Payments relating
thereto, there shall be an automatic adjustment to the participations pursuant to this Section
2B.04 to reflect the new CL Percentages of the CL Lenders. With respect to each Bank Guaranty from
time to time outstanding, all calculations of the percentage participations therein of the various
CL Lenders shall be made from time to time by the Administrative Agent, which calculations shall be
conclusive absent manifest error. Furthermore, upon the occurrence of a Sharing Event and as more
fully set forth in Section 1.14, additional sub-

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participations may be required to be granted by the various CL Lenders in their participations in outstanding Bank Guaranties, in each case in
accordance with, and subject to the provisions of, Section 1.14.

          (b) In determining whether to pay under any Bank Guaranty, the respective Bank Guaranty Issuer
shall have no obligation relative to the other Lenders other than to confirm that any documents
required to be delivered under such Bank Guaranty appear to have been delivered and that they
appear to substantially comply on their face with the requirements of such Bank Guaranty. Any
action taken or omitted to be taken by any Bank Guaranty Issuer under or in connection with any
Bank Guaranty issued by it if taken or omitted in the absence of gross negligence or willful
misconduct (as determined by a court of competent jurisdiction in a final and non-appealable
decision), shall not create for such Bank Guaranty Issuer any resulting liability to the respective
Account Party or any Lender.

          (c) In the event that any Bank Guaranty Issuer makes any payment or disbursement under any
Bank Guaranty issued by it and the respective Account Party shall not have reimbursed such amount
in full to such Bank Guaranty Issuer pursuant to Section 2B.05(a) by the date required by said
Section 2B.05(a) for such reimbursement, such Bank Guaranty Issuer shall promptly notify the
Administrative Agent, which shall promptly notify each B/G Participant therein and the Deposit Bank
of such failure, and each CL Lender (including in its capacity as a B/G Participant) hereby
irrevocably authorizes the Deposit Bank (and the Deposit Bank hereby agrees) to reimburse such Bank
Guaranty Issuer for such amount in Dollars (or, to the extent that the respective Unreimbursed
Payment is in an Alternative Currency, in an amount equal to the Dollar Equivalent thereof, as
determined by the Administrative Agent on the date on which such payment or disbursement was made
under the respective Bank Guaranty) solely from such B/G Participant’s CL Percentage of the
Credit-Linked Deposits on deposit with the Deposit Bank in the Credit-Linked Deposit Account, in
which case the Total Credit-Linked Commitment shall be reduced by the amount so applied (with a
corresponding reduction in the Credit-Linked Commitment of each CL Lender equal to such CL Lender’s
CL Percentage of such aggregate amount so applied); provided that any portion of the
Unreimbursed Payments with respect to a
Non-Dollar Denominated Bank Guaranty which, because of currency fluctuations, represents
amounts in excess of the Total Credit-Linked Deposits, as more fully described in Section 2C.03,
shall not be reimbursed from Credit-Linked Deposits but shall instead be immediately repaid by the
respective Account Party. Furthermore, if any Specified Default or any Event of Default then
exists, the respective Bank Guaranty Issuer may, with respect to any payment or disbursement made
by it under any Bank Guaranty, request of the Deposit Bank, in which case each CL Lender hereby
irrevocably authorizes the Deposit Bank (and the Deposit Bank hereby agrees), to reimburse the Bank
Guaranty, solely from such CL Lender’s CL Percentage of the Credit-Linked Deposits on deposit in
the Credit-Linked Deposit Account with the Deposit Bank for any Bank Guaranty Payment made by such
Bank Guaranty Issuer under such Bank Guaranty, as provided in the immediately preceding sentence
(notwithstanding the date of reimbursement of any such Bank Guaranty Payment by the date required
by Section 2B.05(a)), in which case the Total Credit-Linked Commitment shall be reduced by the
amount so applied as otherwise provided in the immediately preceding sentence, and any amounts
actually received pursuant to Section 2B.05(a) shall be applied to reimburse B/G Participants as
provided in following Section 2B.04(d)

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          (d) Whenever any Bank Guaranty Issuer receives a payment of a reimbursement obligation as to
which the Administrative Agent has received for the account of such Bank Guaranty Issuer any
payments from the B/G Participants (or from the Deposit Bank on their behalf) pursuant to Section
2B.04(c) above, such Bank Guaranty Issuer shall, after paying itself any amounts owing to it as
described in Section 2C.03 in the case of payments received with respect to Non-Dollar Denominated
Bank Guaranties, pay (in same day funds in Dollars) to the Administrative Agent (and the
Administrative Agent shall promptly pay (in same day funds in Dollars) each B/G Participant which
has paid its CL Percentage thereof), an amount equal to such B/G Participant’s share (based on the
proportionate aggregate amount funded by such B/G Participant to the aggregate amount funded by all
B/G Participants) of the principal amount of such reimbursement obligation and interest thereon
accruing after the purchase of the respective participations.

          (e) Each Bank Guaranty Issuer shall, promptly after the issuance of, or amendment or
modification to, a Bank Guaranty, give the Administrative Agent and the respective Account Party
written notice of such issuance, amendment or modification, as the case may be, and such notice
shall be accompanied by a copy of such Bank Guaranty, such amendment or such modification, as the
case may be. Promptly upon receipt of such notice, the Administrative Agent shall notify each B/G
Participant, in writing, of such issuance, amendment or modification and if any B/G Participant
shall so request, the Administrative Agent shall furnish said B/G Participant with a copy of such
Bank Guaranty, such amendment or such modification, as the case may be.

          (f) Each Bank Guaranty Issuer (other than DBAG) shall deliver to the Administrative Agent and
the Deposit Bank, promptly on the first Business Day of each week, by facsimile transmission, the
aggregate daily Face Amount available to be drawn under each outstanding Bank Guaranty issued by
such Bank Guaranty Issuer for the previous week.

          (g) The obligations of the B/G Participants to make payments to the Administrative Agent for
the account of the respective Bank Guaranty Issuer with respect to Bank Guar
anties issued by it shall be irrevocable and not subject to counterclaim, set-off or other
defense or any other qualification or exception whatsoever and shall be made in accordance with the
terms and conditions of this Agreement under all circumstances, including, without limitation, any
of the following circumstances:

     (i) any lack of validity or enforceability of this Agreement or any of the Credit
Documents;

     (ii) the existence of any claim, setoff, defense or other right which any Credit Party
or any of its Subsidiaries may have at any time against a beneficiary named in a Bank
Guaranty, any transferee of any Bank Guaranty (or any Person for whom any such transferee
may be acting), any Agent, any Lender, any Bank Guaranty Issuer, any B/G Participant, or any
other Person, whether in connection with this Agreement, any Bank Guaranty, the transactions
contemplated herein or any unrelated transactions (including any underlying transaction
between any Credit Party or any of its Subsidiaries and the beneficiary named in any such
Bank Guaranty);

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     (iii) any draft, certificate or any other document presented under any Bank Guaranty
proving to be forged, fraudulent, invalid or insufficient in any respect or any statement
therein being untrue or inaccurate in any respect;

     (iv) the surrender or impairment of any security for the performance or observance of
any of the terms of any of the Credit Documents; or

     (v) the occurrence of any Default or Event of Default;

provided that the B/G Participants shall not be obligated to reimburse such Bank Guaranty
Issuer for any wrongful payment made by such Bank Guaranty Issuer under a Bank Guaranty issued by
it as a result of deliberate acts or omissions constituting willful misconduct or gross negligence
on the part of such Bank Guaranty Issuer (as determined by a court of competent jurisdiction in a
final and non-appealable decision). Any action taken or omitted to be taken by any Bank Guaranty
Issuer under or in connection with any Bank Guaranty shall not create for such Bank Guaranty Issuer
any resulting liability to the B/G Participants or any other Person unless such action is taken or
omitted to be taken with gross negligence or willful misconduct (as determined by a court of
competent jurisdiction in a final and non-appealable decision).

          2B.05 Agreement to Repay Bank Guaranty Payments. (a) The U.S. Borrower hereby agrees
(in the case of U.S. Borrower Bank Guaranties) and the Bermuda Borrower hereby agrees (in the case
of Bermuda Borrower Bank Guaranties) to reimburse the respective Bank Guaranty Issuer, by making
payment in Dollars (if the respective Bank Guaranty is denominated in an Alternative Currency, in
an amount equal to the Dollar Equivalent of the respective payment or disbursement, as determined
by the Administrative Agent on the date of such payment or disbursement) to the Administrative
Agent in immediately available funds at the Payment Office (or by making the payment directly to
such Bank Guaranty Issuer at such location as may otherwise have been agreed upon by the respective
Account Party and such Bank Guaranty Issuer), for any payment or disbursement (in the case of any
such payment or disbursement under any Non-Dollar De
nominated Bank Guaranty, taking the Dollar Equivalent, as determined by the Administrative
Agent, of the amount of the respective payment or disbursement on the date upon which the
respective payment or disbursement is made) made by such Bank Guaranty Issuer under any Bank
Guaranty issued by it (each such amount so paid until reimbursed, an “Unreimbursed
Payment”), not later than the third Business Day after the Administrative Agent or the Bank
Guaranty Issuer notifies the respective Account Party of such payment or disbursement
(provided that no such notice shall be required to be given if a Default or an Event of
Default under Section 10.05 shall have occurred and be continuing, in which case all such
Unreimbursed Payments shall be due and payable immediately without presentment, demand, protest or
notice of any kind (all of which are hereby waived by the respective Account Party)), with interest
on the amount so paid or disbursed by such Bank Guaranty Issuer, to the extent not reimbursed prior
to 1:00 P.M. (New York time), on the date of such payment or disbursement, from and including the
date paid or disbursed to but excluding the date such Bank Guaranty Issuer is reimbursed by the
respective Account Party therefor at a rate per annum which shall be equal to Base
Rate in effect from time to time plus the Applicable Margin for Tranche B Term Loans
maintained as Base Rate Loans, as in effect from time to time; provided, however,
to the extent such amounts are not reimbursed prior to 1:00 P.M. (New York time) on the third
Business Day following the receipt by an Account Party of notice of such payment or disbursement
(or, if sooner, from the

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date of occurrence of a Default or an Event of Default under Section
10.05, interest shall thereafter accrue on the amounts so paid or disbursed by such Bank Guaranty
Issuer (and until reimbursed by the respective Account Party) at a rate per annum which is 2% in
excess of the rate otherwise applicable to the respective Unreimbursed Payment as provided above,
with all such interest payable pursuant to this Section 2B.05 to be payable on demand. The
respective Bank Guaranty Issuer shall give the respective Account Party prompt notice of each Bank
Guaranty Payment under any Bank Guaranty, provided that the failure to give, or any delay
in giving, any such notice shall in no way affect, impair or diminish the respective Account
Party’s obligations under this Agreement. The obligations of the respective Account Party to repay
Unreimbursed Payments as required above shall not be reduced, or satisfied, in any respect by
payments made to the Issuing Lender with any amounts on deposit in the Credit-Linked Deposit
Account or as otherwise provided in Section 2B.04(c).

          (b) The obligations of the U.S. Borrower (with respect to U.S. Borrower Bank Guaranties) and
the Bermuda Borrower (with respect to Bermuda Borrower Bank Guaranties) under this Section 2B.05 to
reimburse the respective Bank Guaranty Issuer with respect to Unreimbursed Payments (including, in
each case, interest thereon) shall be absolute and unconditional under any and all circumstances
and irrespective of any setoff, counterclaim or defense to payment which the respective Account
Party may have or have had against any Lender (including in its capacity as Bank Guaranty Issuer or
as B/G Participant), including, without limitation, any defense based upon the failure of any
payment under a Bank Guaranty (each, a “Bank Guaranty Payment”) to conform to the terms of
such Bank Guaranty or any nonapplication or misapplication by the beneficiary of the proceeds of
such Bank Guaranty Payment, the respective Bank Guaranty Issuer’s only obligation to the respective
Account Party being to confirm that any documents required to be delivered under such Bank Guaranty
appear to have been delivered and that they appear to substantially comply on their face with
requirements of such Bank Guaranty; provided, however, that no Account Party shall
be obligated to reimburse any Bank Guaranty Issuer for any wrongful payment made by such Bank
Guaranty Issuer under a Bank Guaranty issued by it as a result of deliberate acts or omissions
constituting willful misconduct or gross
negligence on the part of such Bank Guaranty Issuer (as determined by a court of competent
jurisdiction in a final and non-appealable decision). Any action taken or omitted to be taken by
any Bank Guaranty Issuer under or in connection with any Bank Guaranty shall not create for such
Bank Guaranty Issuer any resulting liability to any Account Party unless such action is taken or
admitted to be taken with gross negligence or willful misconduct (as determined by a court of
competent jurisdiction in a final and non-appealable decision).

          2B.06 Increased Costs. If after the Restatement Effective Date, the Deposit Bank, any
Bank Guaranty Issuer or any B/G Participant determines in good faith that the adoption or
effectiveness after the Restatement Effective Date of any applicable law, rule or regulation,
order, guideline or request or any change therein, or any change after the Restatement Effective
Date in the interpretation or administration thereof by any governmental authority, central bank or
comparable agency charged with the interpretation or administration thereof, or compliance by the
Deposit Bank, any Bank Guaranty Issuer or any B/G Participant with any request or directive
(whether or not having the force of law) by any such authority, central bank or comparable agency
shall either (i) impose, modify or make applicable any reserve, deposit, capital adequacy or
similar requirement against Bank Guaranties issued by such Bank Guaranty Issuer or such B/G
Participant’s participation therein, or (ii) impose on the Deposit Bank, any Bank

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Guaranty Issuer
or any B/G Participant any other conditions directly or indirectly affecting this Agreement, the
Credit-Linked Deposits, any Bank Guaranty or such B/G Participant’s participation therein; and the
result of any of the foregoing is to increase the cost to the Deposit Bank, such Bank Guaranty
Issuer or such B/G Participant of issuing, maintaining or participating in the Credit-Linked
Deposits, any Bank Guaranty, or to reduce the amount of any sum received or receivable by the
Deposit Bank, such Bank Guaranty Issuer or such B/G Participant hereunder or under the other Credit
Documents or reduce the rate of return on its capital with respect to Bank Guaranties, then, upon
written demand to the U.S. Borrower or the Bermuda Borrower, as the case may be, by the Deposit
Bank, such Bank Guaranty Issuer or such B/G Participant (a copy of which notice shall be sent by
the Deposit Bank, such Bank Guaranty Issuer or such B/G Participant to the Administrative Agent),
accompanied by the certificate described in the last sentence of this Section 2B.06, the respective
Account Party shall pay to the Deposit Bank, such Bank Guaranty Issuer or such B/G Participant for
such increased cost or reduction. A certificate submitted to the relevant Account Party by the
Deposit Bank, such Bank Guaranty Issuer or such B/G Participant, as the case may be (a copy of
which certificate shall be sent by the Deposit Bank, such Bank Guaranty Issuer or such B/G
Participant to the Administrative Agent), setting forth in reasonable detail the basis for the
determination of such additional amount or amounts necessary to compensate the Deposit Bank, such
Bank Guaranty Issuer or such B/G Participant as aforesaid shall be final and conclusive and binding
on such Account Party absent manifest error, although the failure to deliver any such certificate
shall not release or diminish such Account Party’s obligations to pay additional amounts pursuant
to this Section 2B.06 upon subsequent receipt of such certificate.

          2B.07 Cash Collateralization. No later than the date occurring ten Business Days
prior to the CL Maturity Date, the U.S. Borrower or the Bermuda Borrower, as the case may be, shall
either (i) terminate each Bank Guaranty issued to it without an expiry date (and cause each such
terminated Bank Guaranty to be surrendered for termination to the respective Bank Guaranty Issuer)
or (ii) enter into cash collateral arrangements with each Bank Guaranty Issuer which shall have
issued a Bank Guaranty to it
without an expiry date on terms satisfactory to such Bank Guaranty Issuer and the
Administrative Agent, with the U.S. Borrower or the Bermuda Borrower, as the case may be,
depositing cash and/or Cash Equivalents (in the respective currency or currencies of the respective
Bank Guaranties, and in such amounts as will fully cash collateralize the maximum future payments
that could be made under the respective Bank Guaranties) pursuant to such cash collateral
arrangements to be held as security for all Bank Guaranty Outstandings of the U.S. Borrower or the
Bermuda Borrower, as the case may be, in respect of such Bank Guaranties. If (and only if) all
actions required above are taken to the satisfaction of the relevant Bank Guaranty Issuers and the
Administrative Agent, the Aggregate CL Exposure attributable to the Bank Guaranties so fully cash
collateralized shall be deemed to be $0 (including for purposes of Section 2C.04(a);
provided that unless and until such actions are taken the full amount of Bank Guaranty
Outstandings relating thereto shall be included in determining the Aggregate CL Exposure (including
for purposes of Section 2C.04(a)).

          Section 2C. Special Provisions.

          2C.01 Credit-Linked Deposit Account. (a) On the Restatement Effective Date and
subject to the satisfaction of the conditions precedent set forth in Sections 5 and 6, each CL
Lender on such date shall pay to the Deposit Bank such CL Lender’s Credit-Linked Deposit.

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The Credit-Linked Deposits shall be held by the Deposit Bank in (or credited to) the Credit-Linked
Deposit Account, and no Person other than the Deposit Bank shall have a right of withdrawal from
the Credit-Linked Deposit Account or any other right or power with respect to the Credit-Linked
Deposits. Notwithstanding anything herein to the contrary, the funding obligation of each CL
Lender in respect of its participation in CL Credit Events shall be satisfied in full upon the
funding in full of its Credit-Linked Deposit.

          (b) Each of the Deposit Bank, the Administrative Agent, each Issuing Lender, each Bank
Guaranty Issuer and each CL Lender hereby acknowledges and agrees that (i) each CL Lender is
funding its Credit-Linked Deposit to the Deposit Bank for application in the manner contemplated by
Sections 2A.04 and 2B.04, (ii) the Deposit Bank may invest the Credit-Linked Deposits in such
investments as may be determined from time to time by the Deposit Bank and (iii) the Deposit Bank
has agreed to pay to the Administrative Agent, who shall in turn pay to each CL Lender, a return on
its Credit-Linked Deposit (except (x) during periods when such Credit-Linked Deposits are used to
reimburse an Issuing Lender or a Bank Guaranty Issuer, as the case may be, with respect to payments
and disbursements on Letters of Credit and/or Bank Guaranties or (y) as otherwise provided in
Sections 2C.01(d) and 2C.01(e)) for each CL Lender equal at any time to the LIBOR Rate for the
Interest Period in effect for the Credit-Linked Deposits at such time less the
Credit-Linked Deposit Cost Amount at such time. Such interest will be paid to the CL Lenders
(solely from amounts received by it from the Deposit Bank) at the LIBOR Rate for an Interest Period
of three months (or at an amount determined in accordance with Sections 2C.01(d) or 2C.01(e), as
applicable) less, in each case, the Credit-Linked Deposit Cost Amount in arrears on each CL
Interest Payment Date.

          (c) The U.S. Borrower, the Bermuda Borrower or any other Credit Party shall not have (x) any
right, title or interest in or to the Credit-Linked Deposit Account or the Credit-
Linked Deposits and/or (y) any obligations with respect thereto (except to refund portions
thereof used to reimburse (I) an Issuing Lender with respect to payments or disbursements on
Letters of Credit as provided in Section 2A.04 and/or (II) a Bank Guaranty Issuer with respect to
payments or disbursements on Bank Guaranties as provided in Section 2B.04), it being acknowledged
and agreed by the parties hereto that the funding of the Credit-Linked Deposits by the CL Lenders
to the Deposit Bank for deposit in the Credit-Linked Deposit Account and the application of the
Credit-Linked Deposits in the manner contemplated by Sections 2A.04 and 2B.04 constitute agreements
among the Deposit Bank, the Administrative Agent, each Issuing Lender, each Bank Guaranty Issuer
and each CL Lender with respect to the L/C Participations in the Letters of Credit and the B/G
Participations in the Bank Guaranties and do not constitute any loan or extension of credit to the
U.S. Borrower, the Bermuda Borrower or any other Credit Party.

          (d) If the Deposit Bank is not offering Dollar deposits (in the applicable amounts) in the
applicable Eurodollar interbank market, or the Deposit Bank determines that adequate and fair means
do not otherwise exist for ascertaining the LIBOR Rate for the Credit-Linked Deposits (or any part
thereof), then the Credit-Linked Deposits (or such parts, as applicable) shall be invested so as to
earn a return equal to the greater of (x) the Federal Funds Rate and (y) a rate determined by the
Deposit Bank in accordance with banking industry rules on interbank compensation.

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          (e) If any (x) payment or disbursement under a Letter of Credit that has been funded by the CL
Lenders from the Credit-Linked Deposits as provided in Section 2A.04(c) or (y) payment or
disbursement under a Bank Guaranty that has been funded by the CL Lenders from the Credit-Linked
Deposits as provided in Section 2B.04(c) shall, in either case, be reimbursed by the applicable
Account Party (or another Person on its behalf) on a day other than on the last day of an Interest
Period or Scheduled Investment Termination Date applicable to the Credit-Linked Deposits, the
Administrative Agent shall, upon receipt thereof, pay over such amounts to the Deposit Bank which,
in turn, will invest the amount so reimbursed in overnight or short-term cash equivalent
investments until the end of the Interest Period or Scheduled Investment Termination Date at the
time in effect and the respective Account Party shall pay to the Deposit Bank, upon the Deposit
Bank’s request therefor (provided that if an Event of Default specified in Section 10.05
shall occur with respect to either Borrower, the result which would occur upon the giving of such
request by the Deposit Bank shall occur automatically without the giving of any such request), the
amount, if any, by which the interest accrued on a like amount of the Credit-Linked Deposits at the
LIBOR Rate for the Interest Period in effect therefor shall exceed the interest earned through the
investment of the amount so reimbursed for the period from the date of such repayment or
reimbursement through the end of the applicable Interest Period, as determined by the Deposit Bank
(such determination shall, absent manifest error, be final and conclusive and binding on all
parties hereto) and set forth in the request for payment delivered to the respective Account Party.
In the event that the respective Account Party shall fail to pay any amount due under this Section
2C.01(e), the interest payable by the Deposit Bank to the CL Lenders on their Credit-Linked
Deposits under Section 2C.01(b) shall be correspondingly reduced and the CL Lenders shall, without
further act, succeed, ratably in accordance with their respective CL Percentages, to the rights of
the Deposit Bank with respect to such amount due from the respective Account Party. All
reimbursements of (x) Drawings under Letters of Credit that have been funded by the CL Lenders from
the Credit-Linked Deposits as provided in Section 2A.04(c) or (y) Bank Guaranty Payments under Bank
Guaranties that have been funded by
the CL Lenders from the Credit-Linked Deposits as provided in Section 2B.04(c), in each case
received by the Administrative Agent prior to the termination of the Total Credit-Linked
Commitment, shall be paid over to the Deposit Bank which will deposit same in the Credit-Linked
Deposit Account. The Account Party shall not have any responsibility or liability to the CL
Lenders, the Administrative Agent, the Issuing Lender or any other Person in respect of the
establishment, maintenance, administration or misappropriation of the Credit-Linked Deposit Account
or with respect to the investment of amounts held therein; provided, however, that
notwithstanding anything to the contrary contained in this Section 2C.01(e), the Administrative
Agent, acting in its capacity as such, shall be entitled to the indemnities provided elsewhere in
this Agreement.

          2C.02 European Monetary Union. The following provisions of this Section 2C.02 shall
come into effect on and from the date on which the United Kingdom becomes a Participating Member
State. Each obligation under this Agreement which has been denominated in Sterling shall be
redenominated into Euros in accordance with the relevant EMU Legislation. However, if and to the
extent that the relevant EMU Legislation provides that an amount which is denominated in Sterling
can be paid by the debtor either in Euros or in that national currency unit, each party to this
Agreement shall be entitled to pay or repay any amount denominated or owing in Sterling hereunder
either in Euros or in Sterling. Without prejudice and in addition to any method of conversion or
rounding prescribed by any relevant EMU Legislation, (i) each ref-

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erence in this Agreement to a minimum amount (or an integral multiple thereof) in Sterling shall be replaced by a reference to
such reasonably comparable and convenient amount (or an integral multiple thereof) in Euros as the
Administrative Agent may from time to time specify and (ii) except as expressly provided in this
Section 2C.02, this Agreement shall be subject to such reasonable changes of construction as the
Administrative Agent may from time to time specify to be necessary or appropriate to reflect the
introduction of or changeover to Euros in the United Kingdom, provided that this Section
2C.02 shall not reduce or increase any actual or contingent liability arising under this Agreement.

          2C.03 Special Provisions Regarding Non-Dollar Denominated Letters of Credit and Non-Dollar
Denominated Bank Guaranties. As an accommodation to each of the Account Parties, it is
understood and agreed that the respective Issuing Lenders and Bank Guaranty Issuers may, but shall
not be obligated to, issue from time to time Letters of Credit or Bank Guaranties, as the case may
be, denominated in Alternative Currencies, otherwise in accordance with the relevant provisions of
this Section 2. The respective Issuing Lender or Bank Guaranty Issuer, as the case may be, may, at
any time, in its sole discretion, determine not to issue Letters of Credit or Bank Guaranties, as
the case may be, denominated in any Alternative Currency. If any Non-Dollar Denominated Letters of
Credit and/or Non-Dollar Denominated Bank Guaranties are from time to time issued, it is understood
that the definitions of Stated Amount (in the case of Non-Dollar Denominated Letters of Credit) and
Face Amount (in the case of Non-Dollar Denominated Bank Guaranties) contained in this Agreement are
each, respectively, designed to provide (pursuant to the proviso thereto) a cushion to reduce the
risk that the sum of (x) the aggregate Unpaid Drawings with respect to the Letters of Credit and
(y) the aggregate Unreimbursed Payments with respect to the Bank Guaranties would ever exceed the
aggregate amount of Credit-Linked Deposits available to repay same. Nonetheless, it is possible,
because of currency fluctuations, that the sum of the aggregate Letter
of Credit Outstandings and Bank Guaranty Outstandings would exceed the amount of Credit-Linked
Deposits from time to time. If that situation ever occurs at any time, the U.S. Borrower and/or
the Bermuda Borrower, as the case may be, shall immediately make all payments required pursuant to
Section 4.02(a). Furthermore, if a Drawing occurs under any Non-Dollar Denominated Letter of
Credit or a Bank Guaranty Payment occurs under any Non-Dollar Denominated Bank Guaranty at a time
when the sum of the aggregate Letter of Credit Outstandings and Bank Guaranty Outstandings exceeds
the Total Credit-Linked Deposits as a result of currency fluctuations after the initial issuance of
the respective Non-Dollar Denominated Letter of Credit and/or Non-Dollar Denominated Bank Guaranty,
as the case may be, then, unless the respective Account Party repays such Drawing and/or Bank
Guaranty Payment (or the portion thereof which represents the excess amounts described above), (x)
the respective Issuing Lender shall bear the risk on that portion of the Unpaid Drawings with
respect to such Non-Dollar Denominated Letter of Credit which represents the excess of the sum of
the aggregate Letter of Credit Outstandings and Bank Guaranty Outstandings over the amount of
Credit-Linked Deposits (but only to the extent caused by currency fluctuations after the issuance
of the respective Non-Dollar Denominated Letter of Credit) and (y) the respective Bank Guaranty
Issuer shall bear the risk on that portion of the Bank Guaranty Payments with respect to such
Non-Dollar Denominated Bank Guaranties which represents the excess of the sum of the aggregate
Letter of Credit Outstandings and Bank Guaranty Outstandings over the amount of Credit-Linked
Deposits (but only to the extent caused by currency fluctuations after the issuance of the
respective Non-Dollar Denominated Bank Guaranty), and any payments received by the Issuing Lender
or Bank Guaranty Issuer, as the case may be, (or others on their respective be-

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half) with respect to
such Unpaid Drawings (and interest thereon, which shall in any event be payable at the rates
specified in Section 2A.05(a)) and/or Unreimbursed Payments (and interest thereon, which shall in
any event be payable at the rates specified in Section 2B.05(a)), shall be retained by the
respective Issuing Lender or Bank Guaranty Issuer, as the case may be, for its own account. Any
amounts owing to an Issuing Lender or Bank Guaranty Issuer as described above in this Section 2C.03
shall be entitled to elevated priorities with respect to cash collateral as described in Section
4.02(a) and the enhanced priorities described in Section 7.4 of the U.S. Security Agreement.

          2C.04 Special Provisions Regarding Return Of Credit-Linked Deposits. At the time of
any termination or reduction of the Total Credit-Linked Commitment pursuant to Sections 2A.04(c),
2B.04(c), 3.02(b), 3.03 or 10, the Deposit Bank shall return to the Administrative Agent who shall,
in turn, return to the CL Lenders (ratably in accordance with their respective CL Percentages)
their Credit-Linked Deposits (to the extent not theretofore applied pursuant to Sections 2A.04(c)
or 2B.04(c)) in an amount (if any) by which the aggregate amount of Credit-Linked Deposits at such
time exceeds the greater of (x) the Total Credit-Linked Commitment after giving effect to such
reduction or termination and (y) the Aggregate CL Exposure at such time. If at the time of any
determination pursuant to the immediately preceding sentence the amount determined pursuant to
clause (y) of the preceding sentence exceeded the amount determined pursuant to clause (x) of the
preceding sentence, the Deposit Bank shall from time to time thereafter, upon the direction of the
Administrative Agent, return to the Administrative Agent who shall, in turn, return to the CL
Lenders (ratably in accordance with their CL Percentages) their Credit-Linked Deposits to the
extent that the aggregate amount thereof from time to time exceeds the greater of (x) the Total
Credit-Linked Commitment after giving effect to prior reductions thereto or terminations thereof
and (y) the Aggregate CL Exposure at such time.

          If at any time, and for any reason, any Issuing Bank or Bank Guaranty Issuer is required to
return to the respective Account Party (or any other Person) or otherwise disgorge amounts in
respect of payments previously received by it from (or on behalf of) any Account Party or other
Credit Party in respect of payments theretofore received by the respective Issuing Bank or Bank
Guaranty Issuer in respect of Drawings or Bank Guaranty Payments, as the case may be, previously
made, then the respective Issuing Bank or Bank Guaranty Issuer shall be entitled to treat the
amounts so returned or disgorged as not having been paid to it (by the respective Account Party or
other Credit Party) for purposes of this Agreement and shall be entitled to reimbursement as
provided in the relevant provisions of Sections 2A or 2B, as the case may be, and, without limiting
the foregoing, to the extent that Credit-Linked Deposits have previously been returned to the CL
Lenders (in accordance with the provisions of preceding clause (a) or otherwise), the respective
Issuing Bank or Bank Guaranty Issuer shall be entitled to be indemnified by the CL Lenders for the
amount so returned or disgorged (and the CL Lenders hereby agree to so indemnify the respective
Issuing Bank or Bank Guaranty Issuer); provided that no CL Lender shall be obligated
pursuant to this clause (b) to make payments, in the aggregate, of amounts in excess of the amount
of Credit-Linked Deposits actually returned to it.

          Section 3. Fees; Commitments.
3.01 Fees. (a) The Borrowers jointly and severally agree to pay to the Administrative Agent for
distribution to each CL Lender (based on each such CL Lender’s CL Percentage) a fee (the “CL
Facility Fee”) equal to the sum of (I) a rate per annum equal to the Applicable Margin for
Tranche B Term Loans maintained as Eurodollar Loans

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on the Total Credit-Linked Commitment as in
effect from time to time (or, if terminated, on the aggregate amount of the Credit-Linked Deposits
from time to time), (II) a rate per annum equal to the Credit-Linked Deposit Cost Amount as in
effect from time to time on the amount of the Total Credit-Linked Commitment as in effect from time
to time (or, if terminated, on the aggregate amount of the Credit-Linked Deposits from time to
time) and (III) for the period commencing on the effective date of Amendment 1, a rate per annum
equal to the amount, if any, by which (x) 3.00% exceeds (y) the LIBOR Rate in effect for the
Interest Period with respect to which such CL Facility Fee is being paid on the amount of the Total
Credit-Linked Commitment as in effect from time to time (or, if terminated, on the aggregate amount
of the Credit-Linked Deposits from time to time), in each case for the period from and including
the Restatement Effective Date (or in the case of subclause (III) above, the effective date of
Amendment 1) to and including the date on which the Total Credit-Linked Commitment has been
terminated, all remaining Credit-Linked Deposits have been returned to the CL Lenders or applied to
pay amounts owing with respect to Letters of Credit and/or Bank Guaranties as more fully provided
in Sections 2A and 2B hereof, all Unpaid Drawings and all Unreimbursed Payments (including, in each
case, all accrued and unpaid interest thereon) have been paid in full and all Letters of Credit and
all Bank Guaranties have been terminated. Accrued CL Facility Fees shall be due and payable
quarterly in arrears on each CL Interest Payment Date and on the first date upon which the Total
Credit-Linked Commitment has been terminated, all remaining Credit-Linked Deposits have been
returned to the CL Lenders or applied to pay amounts owing with respect to Letters of Credit and/or
Bank Guaranties as more fully provided in Sections 2A and 2B hereof, all Unpaid Drawings and all
Unreimbursed Pay ments (including, in each case, all accrued and unpaid interest thereon) have been paid in
full and all Letters of Credit and all Bank Guaranties have been terminated.

          (b) Each Account Party agrees to pay to the respective Issuing Lender, for its own account, in
Dollars, a facing fee in respect of each Letter of Credit issued for its account hereunder (the
“Facing Fee”) for the period from and including the date of issuance or renewal of such
Letter of Credit to and including the termination or expiration of such Letter of Credit, computed
at a rate equal to 1/8 of 1% per annum of the daily Stated Amount of such Letter of Credit;
provided that in no event shall the annual Facing Fee with respect to any Letter of Credit be
less than the Minimum Applicable Facing Fee; it being agreed that (i) on the date of
issuance of any Letter of Credit and on each anniversary thereof prior to the termination of such
Letter of Credit, if the Minimum Applicable Facing Fee will exceed the amount of Facing Fees that
will accrue with respect to such Letter of Credit for the immediately succeeding 12-month period,
the full Minimum Applicable Facing Fee shall be payable on the date of issuance of such Letter of
Credit and on each such anniversary thereof prior to the termination of such Letter of Credit and
(ii) if on the date of the termination of any Letter of Credit, the Minimum Applicable Facing Fee
actually exceeds the amount of Facing Fees paid or payable with respect to such Letter of Credit
for the period beginning on the date of the issuance thereof (or, if the respective Letter of
Credit has been outstanding for more than one year, the date of the last anniversary of the
issuance thereof occurring prior to the termination of such Letter of Credit) and ending on the
date of the termination thereof, an amount equal to such excess shall be paid as additional Facing
Fees with respect to such Letter of Credit on the next date upon which Facing Fees are payable in
accordance with the immediately succeeding sentence. Except as provided in the immediately
preceding sentence, accrued Facing Fees shall be due and payable quarterly in arrears on each CL
Interest Payment Date and upon the first day on or after the termination of the Total Credit-Linked

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Commitment upon which no Letters of Credit remain outstanding. Notwithstanding anything to the
contrary contained in this Agreement, to the extent that any Account Party has paid advance facing
fees to any Issuing Lender with respect to any Existing Letter of Credit pursuant to the Original
Credit Agreement, there shall be credited against the Facing Fees due to such Issuing Lender under
this Agreement the amount of such advance facing fees which related to periods after the
Restatement Effective Date.

          (c) The respective Account Party agrees to pay to the respective Issuing Lender, in Dollars,
for its own account, upon each payment under, issuance of, or amendment to, any Letter of Credit,
such amount as shall at the time of such event be the administrative charge which such Issuing
Lender is customarily charging for issuances of, payments under or amendments of, Letters of Credit
issued by it.

          (d) Each Account Party agrees to pay to the respective Bank Guaranty Issuer, for its own
account, in Dollars, a fronting fee in respect of each Bank Guaranty issued to it hereunder (the
“Fronting Fee”) for the period from and including the date of issuance or renewal of such
Bank Guaranty to and including the termination or expiration of such Bank Guaranty, computed at a
rate equal to 1/8 of 1% per annum of the daily Face Amount of such Bank Guaranty, provided that in
no event shall the annual Fronting Fee with respect to any Bank Guaranty be less than the
Minimum Applicable Fronting Fee; it being agreed that (i) on the date of issuance of any Bank
Guaranty and on each anniversary thereof prior to the termination of such Bank Guaranty, if the
Minimum Applicable Fronting Fee will exceed the amount of Fronting Fees that
will accrue with respect to such Bank Guaranty for the immediately succeeding 12-month period,
the full Minimum Applicable Fronting Fee shall be payable on the date of issuance of such Bank
Guaranty and on each such anniversary thereof prior to the termination of such Bank Guaranty and
(ii) if on the date of the termination of any Bank Guaranty, the Minimum Applicable Fronting Fee
actually exceeds the amount of Fronting Fees paid or payable with respect to such Bank Guaranty for
the period beginning on the date of the issuance thereof (or, if the respective Bank Guaranty has
been outstanding for more than one year, the date of the last anniversary of the issuance thereof
occurring prior to the termination of such Bank Guaranty) and ending on the date of the termination
thereof, an amount equal to such excess shall be paid as additional Fronting Fees with respect to
such Bank Guaranty on the next date upon which Fronting Fees are payable in accordance with the
immediately succeeding sentence. Except as provided in the immediately preceding sentence, accrued
Fronting Fees shall be due and payable, quarterly in arrears on each CL Interest Payment Date and
upon the first day on or after the termination of the Total Credit-Linked Commitment upon which no
Bank Guaranties remain outstanding. Notwithstanding anything to the contrary contained in this
Agreement, to the extent that any Account Party has paid advance fronting fees to any Bank Guaranty
Issuer with respect to any Existing Bank Guaranty pursuant to the Original Credit Agreement, there
shall be credited against the Fronting Fees due to such Bank Guaranty Issuer under this Agreement
the amount of such advance fronting fees which related to periods after the Restatement Effective
Date.

          (e) The respective Account Party agrees to pay to the respective Bank Guaranty Issuer, in
Dollars, for its own account, upon each payment under, issuance of, or amendment to, any Bank
Guaranty, such amount as shall at the time of such event be the administrative charge which such
Bank Guaranty Issuer is customarily charging for issuances of, payments under or amendments of,
Bank Guaranties issued by it.

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          (f) The Borrowers shall pay to the Administrative Agent for distribution to each Incremental
Term Loan Lender such fees and other amounts, if any, as are specified in the relevant Incremental
Term Loan Commitment Agreement, with the fees and other amounts, if any, to be payable on the
respective Incremental Term Loan Commitment Date.

          (g) Each Borrower agrees to pay to each Agent, for its own account, such other fees as have
been agreed to in writing by such Borrower and the Agents.

          (h) At the time of the consummation of a Repricing Transaction that is consummated prior to
the first anniversary of the Restatement Effective Date, the respective Borrower agrees to pay to
the Administrative Agent, for the ratable account of each Lender with outstanding Term Loans and/or
Credit-Linked Deposits of any Tranche subject to such Repricing Transaction (including each Lender
that withholds its consent to such Repricing Transaction and is replaced or is removed as a Lender
under Section 1.13 or 4.01(vi), as the case may be), a fee equal to 1.0% of (x) in the case of a
Repricing Transaction of the type described in clause (1) of the definition thereof, the aggregate
principal amount of all Term Loans and/or Credit-Linked Deposits, as the case may be, prepaid (or
converted) in connection with such Repricing Transaction and (y) in the case of a Repricing
Transaction of the type described in clause (2) of the definition thereof, the aggregate principal
amount of all Term Loans and/or Credit-Linked Deposits, as the case may be, outstanding on such
date that are subject to an effective pricing reduction
pursuant to such Repricing Transaction. The fees described above in this Section 3.01(h) shall
be due and payable upon the date of the effectiveness of such Repricing Transaction.

          (i) All computations of Fees shall be made in accordance with Section 13.07(b).

          3.02 Voluntary Termination or Reduction of Commitments and Adjustments of Commitments.
(a) Upon at least three Business Days’ prior notice from an Authorized Officer of the
applicable Incremental Term Loan Borrower to the Administrative Agent at its Notice Office (which
notice the Administrative Agent shall promptly transmit to each of the Incremental Term Loan
Lenders), the applicable Incremental Term Loan Borrower shall have the right, at any time and from
time to time, without premium or penalty, to terminate the Total Incremental Term Loan Commitment
at such time, in whole or in part, in aggregate minimum amounts of at least $1,000,000 in the case
of partial reductions, with the amount of each reduction pursuant to this Section 3.02(a) to apply
proportionately and permanently reduce the Incremental Term Loan Commitments of each Lender with
such a Commitment. Each reduction to the Total Incremental Term Loan Commitment pursuant to this
Section 3.02(a) shall be applied to reduce the then remaining Incremental Term Loan Scheduled
Repayments of the respective Tranche of Incremental Term Loans on a pro rata basis
(based upon the then remaining principal amount of the Incremental Term Loan Scheduled Repayments
of such Tranche after giving effect to all prior reductions thereto).

          (b) Upon at least three Business Days’ prior written notice to the Administrative Agent at the
Notice Office (which notice the Administrative Agent shall promptly transmit to each of the CL
Lenders), the U.S. Borrower shall have the right, at any time and from time to time, without
premium or penalty, to terminate the Total Unutilized Credit-Linked Commitment in whole, or reduce
it in part in aggregate minimum amounts of $1,000,000, provided that no

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such reduction shall be
permitted to be made pursuant to this Section 3.02(b) if the effect thereof is to cause the
Aggregate CL Exposure to exceed the Total Credit-Linked Commitment after giving effect to the
reduction thereto pursuant to this Section 3.02(b). Each reduction to the Total Credit-Linked
Commitment pursuant to this Section 3.02(b) shall apply to proportionately and permanently reduce
the Credit-Linked Commitment of each CL Lender (based on their respective CL Percentages). At the
time of any termination or reduction of the Total Credit-Linked Commitment pursuant to this Section
3.02(b), the Administrative Agent shall request the Deposit Bank to (and the Deposit Bank agrees
that it will) withdraw from the Credit-Linked Deposit Account and to pay same over to the
Administrative Agent, and the Administrative Agent shall return to the CL Lenders (ratably in
accordance with their respective CL Percentages) their Credit-Linked Deposits in an amount by which
the aggregate amount of the Credit-Linked Deposits at such time exceeds the Total Credit-Linked
Commitment as in effect immediately after giving effect to such termination. Each termination of
all or any portion of the Total Unutilized Credit-Linked Commitment pursuant to this Section
3.02(b) made prior to the first anniversary of the Restatement Effective Date in connection with a
Repricing Transaction shall be subject to the payment of the fee described in Section 3.01(h).

          (c) In the event of certain refusals by a Lender as provided in Section 4.01 or 13.12(b) to
consent to certain proposed changes, waivers, discharges or terminations with respect to this
Agreement which have been approved by the Required Lenders, the applicable Incremental Term Loan
Borrower may, subject to the applicable requirements of said Sections 4.01 and/or 13.12(b), upon
five Business Days’ prior written notice to the Administrative Agent at its Notice Office (which
notice the Administrative Agent shall promptly transmit to each of the Lenders) terminate the
Incremental Term Loan Commitments, if any, and/or the Credit-Linked Commitment, if any, of such
Lender, so long as (x) all Loans, Unpaid Drawings and Unreimbursed Payments (to the extent that
such Lender’s Credit-Linked Commitment is being terminated), together with accrued and unpaid
interest, Fees and all other amounts, owing to such Lender (excluding amounts owing in respect of
Loans of any Tranche maintained by such Lender which are not being repaid pursuant to Section
13.12(b)) are repaid concurrently with the effectiveness of such termination (at which time
Schedule I shall be deemed modified to reflect such changed amounts) and (y) after giving effect to
such termination (and the adjustments to the CL Percentages of the remaining Lenders as
contemplated below), the Individual CL Exposure of any remaining CL Lender shall not exceed its
Credit-Linked Commitment. After giving effect to the termination of the Commitments of any Lender
pursuant to the provisions of this Section 3.02(c), unless the respective Lender continues to have
outstanding Term Loans or other Commitments (if any) hereunder, such Lender shall no longer
constitute a “Lender” for purposes of this Agreement, except with respect to
indemnifications under this Agreement (including, without limitation, Sections 1.10, 1.11, 2A.06,
2B.06, 4.04, 13.01 and 13.06), which shall survive as to such repaid Lender. In cases where the
Credit-Linked Commitments of any Lender are terminated pursuant to this Section 3.02(c), except in
cases where the respective Credit-Linked Commitments are replaced in full, after giving effect to
the termination of any such Credit-Linked Commitments of a given Lender pursuant to this Section
3.02(c), there shall occur automatic adjustments (as determined by the Administrative Agent) in the
respective CL Percentages of the remaining CL Lenders in accordance with the definition of CL
Percentage contained herein. At the time of any termination of a CL Lender’s Credit-Linked
Commitment pursuant to this Section 3.02(c), the Administrative Agent shall request the Deposit
Bank to (and the Deposit Bank agrees that it will) withdraw from the Credit-Linked Deposit Account
and to pay same over to

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the Administrative Agent, and the Administrative Agent shall return to such
CL Lender its Credit-Linked Deposit; provided that if, and to the extent, the respective CL
Lender is replaced by way of assignment, then its Credit-Linked Deposit shall remain in the
Credit-Linked Deposit Account and the respective assignee shall pay the assigning CL Lender an
amount equal to the Credit-Linked Deposit so assigned. Each reduction to the Total Incremental
Term Loan Commitment pursuant to this Section 3.02(c) shall be applied to reduce the then remaining
Incremental Term Loan Scheduled Repayments of the respective Tranche of Incremental Term Loans on a
pro rata basis (based upon the then remaining principal amount of the Incremental
Term Loan Scheduled Repayments of such Tranche after giving effect to all prior reductions
thereto).

          3.03 Mandatory Reduction of Commitments.
(a) The Total Commitment (and the Tranche B Term Loan Commitment, the Tranche C Term Loan
Commitment and the Credit-Linked Commitment of each Lender with such a Commitment) shall terminate
in its entirety on April 12, 2006, unless the Restatement Effective Date has occurred on or before
such date.

          In addition to any other mandatory commitment reductions pursuant to this Section 3.03, the
Total Tranche B Term Loan Commitment (and the Tranche B Term Loan Commitment of each Lender with
such a Commitment) shall terminate in its entirety on the Restatement Effective Date (after giving
effect to the making of Tranche B Term Loans on such date).

          (b) In addition to any other mandatory commitment reductions pursuant to this Section 3.03,
the Total Tranche C Term Loan Commitment (and the Tranche C Term Loan Commitment of each Lender
with such a Commitment) shall terminate in its entirety on the Restatement Effective Date (after
giving effect to the making of Tranche C Term Loans on such date).

          (c) In addition to any other mandatory commitment reductions pursuant to this Section 3.03,
the Total Credit-Linked Commitment shall be reduced on the dates, and in the amounts provided in
Sections 2A.04(c) and 2B.04(c). At the time of any termination or reduction of the Total
Credit-Linked Commitment pursuant to Section 2A.04(c), Section 2B.04(c), this Section 3.03 or
Section 10, the actions required by Section 2C.04(a) shall be taken. Each reduction to, or
termination of, the Total Credit-Linked Commitment shall be applied to proportionately reduce or
terminate, as the case may be, the Credit-Linked Commitment of each CL Lender (in accordance with
their respective CL Percentages).

          (d) In addition to any other mandatory commitment reductions pursuant to this Section 3.03,
the Total Incremental Term Loan Commitment under a given Tranche shall (i) be permanently reduced
on each Incremental Term Loan Borrowing Date in respect of such Tranche in an amount equal to the
aggregate principal amount of Incremental Term Loans of such Tranche incurred on each such date,
(ii) terminate in its entirety (to the extent not theretofore terminated) on the Incremental Term
Loan Commitment Termination Date for such Tranche of Incremental Term Loans (after giving effect to
any Incremental Term Loans of such Tranche to be made on such date) and (iii) prior to the
termination of the Total Incremental Term Loan Commitment in respect of such Tranche, be
permanently reduced from time to time to the extent required by Section 4.02.

-46-

 

          (e) Each reduction to the Total Tranche B Term Loan Commitment, the Total Tranche C Term Loan
Commitment, the Total Credit-Linked Commitment and the Total Incremental Term Loan Commitment under
a given Tranche pursuant to this Section 3.03 as provided above (or pursuant to Section 4.02) shall
be applied proportionately to reduce the Tranche B Term Loan Commitment, the Tranche C Term Loan
Commitment, the Total Credit-Linked Commitment or the Incremental Term Loan Commitment under such
Tranche, as the case may be, of each Lender with such a Commitment.

          (f) In addition to any other mandatory commitment reductions pursuant to this Section 3.03, on
the Restatement Effective Date (and concurrently with the occurrence thereof) the Total
Multicurrency Facility Revolving Loan Commitment (as defined in the Original Credit Agreement), the
Multicurrency Facility Revolving Loan Commitment (as defined in the Original Credit Agreement) of
each Original Lender, the Total Dollar Facility Revolving Loan Commitment (as defined in the
Original Credit Agreement) and the Dollar Facility Revolving Loan Commitment (as defined in the
Original Credit Agreement) of each Original Lender, shall all be terminated in their entirety.

          Section 4. Prepayments; Repayments; Taxes.

          4.01 Voluntary Prepayments.
Each Borrower shall have the right to prepay the Loans made to such Borrower, without premium
or penalty except as otherwise provided in this Agreement, and the right to allocate such
prepayments to Loans of a given Tranche, as such Borrower elects, in whole or in part, at any time
and from time to time on the following terms and conditions:

     (i) an Authorized Officer of such Borrower shall give the Administrative Agent at its
Notice Office written notice (or telephonic notice promptly confirmed in writing) of its
intent to prepay the Loans, specifying the Tranche or Tranches of the Loans to be prepaid,
the Types of Loans to be repaid and, in the case of Eurodollar Loans, the specific Borrowing
or Borrowings pursuant to which made, which notice shall be given by the Authorized Officer
of such Borrower (x) prior to 2:00 P.M. (New York time) at least one Business Day prior to
the date of such prepayment in the case of Loans maintained as Base Rate Loans and (y) prior
to 10:00 A.M. (New York time) at least three Business Days prior to the date of such
prepayment in the case of Eurodollar Loans, which notice shall be promptly transmitted by
the Administrative Agent to each of the Lenders;

     (ii) each partial prepayment applied to any Tranche of Loans shall be in an aggregate
principal amount of at least $1,000,000, provided that if any partial prepayment of
Eurodollar Loans made pursuant to any Borrowing shall reduce the outstanding Eurodollar
Loans made pursuant to such Borrowing to an amount less than the Minimum Borrowing
Amount applicable thereto, then such Borrowing may not be continued as a Borrowing of
Eurodollar Loans beyond the Interest Period applicable thereto and any election of an
Interest Period with respect thereto given by such Borrower shall have no force or effect;

-47-

 

     (iii) at the time of any prepayment of Eurodollar Loans pursuant to this Section 4.01
on any date other than the last day of the Interest Period applicable thereto, such Borrower
shall pay the amounts required pursuant to Section 1.11(a);

     (iv) except as provided in Section 4.01(v) below, each prepayment in respect of any
Loans made pursuant to a Borrowing shall be applied pro rata among such Loans made pursuant
to such Borrowing;

     (v) each prepayment of principal of Loans of a given Tranche pursuant to this Section
4.01 shall, subject to the immediately succeeding proviso, be applied to reduce the then
remaining Scheduled Repayments of the respective Tranche of Term Loans on a pro
rata basis (based upon the then remaining principal amounts of the Scheduled
Repayments of such Tranche of Loans after giving effect to all prior reductions thereto);
provided that repayments of any Tranche of Loans pursuant to Section 4.01(vi) below
shall only apply to reduce the then remaining Scheduled Repayments of such Tranche to the
extent the Term Loans so repaid are not replaced (and are not required to be replaced)
pursuant to Section 13.12(b), with any such application to reduce the then remaining
Scheduled Repayments of the respective Tranche in the manner provided above in this
Section 4.01(v), unless otherwise specifically agreed by the Required Lenders;

     (vi) in the event of certain refusals by a Lender as provided in Section 13.12(b) to
consent to certain proposed changes, waivers, discharges or terminations with respect to
this Agreement which have been approved by the Required Lenders, such Borrower may, upon
five Business Days’ written notice by an Authorized Officer of such Borrower to the
Administrative Agent at its Notice Office (which notice the Administrative Agent shall
promptly transmit to each of the Lenders), repay all Loans and pay all accrued and unpaid
interest, Fees, and other amounts, in each case owing by such Borrower to such Lender (or
owing by such Borrower to such Lender with respect to each Tranche which gave rise to the
need to obtain such Lender’s individual consent) in accordance with, and subject to the
requirements of, said Section 13.12(b) so long as (A) in the case of the repayment of
Incremental Term Loans of any Lender under a given Tranche, the Incremental Term Loan
Commitment of such Lender under such Tranche (if any) is terminated concurrently with such
repayment pursuant to Section 3.02(c) (at which time Schedule I shall be deemed modified to
reflect the changed Incremental Term Loan Commitments of such Tranche) and (B) the consents
required by Section 13.12(b) in connection with the repayment pursuant to this clause (vi)
have been obtained;

     (vii) in the case of any prepayment of Tranche C Term Loans or Bermuda Borrower
Incremental Term Loans by the Bermuda Borrower with the proceeds of an Investment in the
Bermuda Partnership and the prepayment by the Bermuda Partnership of an intercompany loan to
the Bermuda Borrower as contemplated by Section 9.05(xviii) at any time Tranche B Term Loans
or U.S. Borrower Incremental Term Loans are outstanding, such prepayment shall be
accompanied by a prepayment of Tranche B Term Loans or U.S. Borrower Incremental Term Loans
by the U.S. Borrower in such amount so that the voluntary prepayments of Term Loans at such
time is made on a pro rata basis (based upon the TL Repayment Percentages of
each such Tranche of Term Loans and the then outstanding principal amounts of each such
Tranche of Term Loans); and

-48-

 

     (viii) each prepayment of Loans of any Tranche pursuant to this Section 4.01 made prior
to the first anniversary of the Restatement Effective Date in connection with a Repricing
Transaction shall be subject to the payment of the fee described in Section 3.01(h).

          4.02 Mandatory Repayments and Commitment Reductions.
(a) If on any date the aggregate amount of all Letter of Credit Outstandings and Bank
Guaranty Outstandings exceeds the Total Credit-Linked Commitment as then in effect, the U.S.
Borrower or the Bermuda Borrower (as determined by the U.S. Borrower) (subject to clause (x) of the
proviso to this clause (a)) agrees to pay to the Administrative Agent at the Payment Office on such
date an amount of cash and/or Cash Equivalents in Dollars equal to such excess, such cash or Cash
Equivalents to be held as security for all Obligations of the respective Borrower (including,
without limitation, in the case of the U.S. Borrower pursuant to the Credit Agreement Party
Guaranty) to the Issuing Lenders, Bank Guaranty Issuers and Lenders relating to Letters of Credit
and Bank Guaranties (and reimbursement and other Obligations relating
thereto) hereunder in a cash collateral account to be established by, and under the sole
dominion and control of, the Administrative Agent; provided that (x) the aggregate amount of cash
and/or Cash Equivalents paid by the Bermuda Borrower to the Administrative Agent under this clause
(a) shall not at any time exceed the sum of the Letter of Credit Outstandings (with respect to
Bermuda Borrower Letters of Credit) and the Bank Guaranty Outstandings (with respect to Bermuda
Borrower Bank Guaranties) at such time and (y) any such cash and/or Cash Equivalents shall first be
applied to repay any amounts owing to the respective Issuing Lender and Bank Guaranty Issuer as
described in Section 2C.03 hereof.

          (b) (i) In addition to any other mandatory repayments or commitment reductions pursuant to
this Section 4.02, on each date set forth below, the U.S. Borrower shall be required to repay that
principal amount of Tranche B Term Loans, to the extent then outstanding, as is set forth opposite
such date (each such repayment, as the same may be reduced as provided in Sections 4.01 and
4.02(g), a “Tranche B Term Loan Scheduled Repayment”):

	 	 	 	 	 
	Tranche B Scheduled Repayment Date	 	Amount1
	Last Business Day of June, 2006
	 	$	562,500	 
	Last Business Day of September, 2006
	 	$	562,500	 

 

			
	1	 	For informational purposes only, the
amortization payments set forth in the table above are based on the original
principal amount of the Tranche B Term Loans as of the Restatement Effective
Date. Pursuant to Section 4.01 and 4.02(g), prepayments of the Tranche B Term
Loans are applied to reduce remaining scheduled amortization (in the manner
described therein). As of October 5, 2009 and subject to further reduction as
provided in Section 4.01 and 4.02(g), the remaining amount of each amortization
payment prior to final maturity was $451,702.93 with the balance of the Tranche
B Term Loans due at final maturity.

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	Last Business Day of December, 2006
	 	$	562,500	 
	Last Business Day of March, 2007
	 	$	562,500	 
	Last Business Day of June, 2007
	 	$	562,500	 
	Last Business Day of September, 2007
	 	$	562,500	 
	Last Business Day of December, 2007
	 	$	562,500	 
	Last Business Day of March, 2008
	 	$	562,500	 
	Last Business Day of June, 2008
	 	$	562,500	 
	Last Business Day of September, 2008
	 	$	562,500	 
	Last Business Day of December, 2008
	 	$	562,500	 
	Last Business Day of March, 2009
	 	$	562,500	 
	Last Business Day of June, 2009
	 	$	562,500	 
	Last Business Day of September, 2009
	 	$	562,500	 
	Last Business Day of December, 2009
	 	$	562,500	 
	Last Business Day of March, 2010
	 	$	562,500	 
	Last Business Day of June, 2010
	 	$	562,500	 
	Last Business Day of September, 2010
	 	$	562,500	 
	Last Business Day of December, 2010
	 	$	562,500	 
	Last Business Day of March, 2011
	 	$	562,500	 
	Last Business Day of June, 2011
	 	$	562,500	 
	Last Business Day of September, 2011
	 	$	562,500	 
	Last Business Day of December, 2011
	 	$	562,500	 
	Last Business Day of March, 2012
	 	$	562,500	 
	Last Business Day of June, 2012
	 	$	562,500	 
	Last Business Day of September, 2012
	 	$	562,500	 
	Last Business Day of December, 2012
	 	$	562,500	 

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	Tranche B/C Term Loan Maturity Date
	 	$	209,812,500	 

          (ii) In addition to any other mandatory repayments or commitment reductions pursuant to this
Section 4.02, on each date set forth below, the Bermuda Borrower shall be required to repay that
principal amount of Tranche C Term Loans, to the extent then outstanding, as is set forth opposite
such date (each such repayment, as the same may be reduced as provided in Sections 4.01 and
4.02(g), a “Tranche C Term Loan Scheduled Repayment”):

	 	 	 	 	 
	Tranche C Scheduled Repayment Date	 	Amount2
	Last Business Day of June, 2006
	 	$	1,875,000	 
	Last Business Day of September, 2006
	 	$	1,875,000	 
	Last Business Day of December, 2006
	 	$	1,875,000	 
	Last Business Day of March, 2007
	 	$	1,875,000	 
	Last Business Day of June, 2007
	 	$	1,875,000	 
	Last Business Day of September, 2007
	 	$	1,875,000	 
	Last Business Day of December, 2007
	 	$	1,875,000	 
	Last Business Day of March, 2008
	 	$	1,875,000	 
	Last Business Day of June, 2008
	 	$	1,875,000	 
	Last Business Day of September, 2008
	 	$	1,875,000	 
	Last Business Day of December, 2008
	 	$	1,875,000	 
	Last Business Day of March, 2009
	 	$	1,875,000	 
	Last Business Day of June, 2009
	 	$	1,875,000	 

 

			
	2	 	For informational purposes only, the
amortization payments set forth in the table above are based on the original
principal amount of the Tranche C Term Loans as of the Restatement Effective
Date. Pursuant to Section 4.01 and 4.02(g), prepayments of the Tranche C Term
Loans are applied to reduce remaining scheduled amortization (in the manner
described therein). As of October 5, 2009 and subject to further reduction as
provided in Section 4.01 and 4.02(g), the remaining amount of each amortization
payment prior to final maturity was $1,622,373.50 with the balance of the
Tranche C Term Loans due at final maturity.

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	Last Business Day of September, 2009
	 	$	1,875,000	 
	Last Business Day of December, 2009
	 	$	1,875,000	 
	Last Business Day of March, 2010
	 	$	1,875,000	 
	Last Business Day of June, 2010
	 	$	1,875,000	 
	Last Business Day of September, 2010
	 	$	1,875,000	 
	Last Business Day of December, 2010
	 	$	1,875,000	 
	Last Business Day of March, 2011
	 	$	1,875,000	 
	Last Business Day of June, 2011
	 	$	1,875,000	 
	Last Business Day of September, 2011
	 	$	1,875,000	 
	Last Business Day of December, 2011
	 	$	1,875,000	 
	Last Business Day of March, 2012
	 	$	1,875,000	 
	Last Business Day of June, 2012
	 	$	1,875,000	 
	Last Business Day of September, 2012
	 	$	1,875,000	 
	Last Business Day of December, 2012
	 	$	1,875,000	 
	Tranche B/C Term Loan Maturity Date
	 	$	699,375,000	 

          (iii) In addition to any other mandatory repayments or commitment reductions pursuant to this
Section 4.02, each Incremental Term Loan Borrower shall be required to make, with respect to each
Tranche of Incremental Term Loans of such Incremental Term Loan Borrower, to the extent then
outstanding, scheduled amortization payments of such Tranche of Incremental Term Loans on the dates
and in the principal amounts set forth in the respective Incremental Term Loan Commitment Agreement
(each such repayment, as the same may be reduced as provided in Sections 3.02, 4.01 and 4.02(g), an
"Incremental Term Loan Scheduled Repayment”); provided that, if any Incremental
Term Loans are incurred which will be added to (and form part of) an existing Tranche of Term
Loans, the amount of the then remaining Scheduled Repayments of the respective Tranche shall be
proportionally increased (with the aggregate amount of increases to the then remaining Loan
Scheduled Repayments to equal the aggregate principal amount of such new Incremental Term Loans
then being incurred) in accordance with the requirements of clause (ii) of Section 1.15(c).

          (c) In addition to any other mandatory repayments or commitment reductions pursuant to this
Section 4.02, on each date on or after the Restatement Effective Date upon which the U.S. Borrower
or any of its Subsidiaries receives Net Sale Proceeds from any Asset Sale (other than the
California Disposition, to the extent the Net Sale Proceeds therefrom received by

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a Subsidiary of
the U.S. Borrower (exclusive of any portion thereof which is distributed to a minority shareholder
of such Subsidiary in accordance with the requirements of Section 9.06) are promptly on-loaned to
an Affiliate of the U.S. Borrower in accordance with the requirements of Section 9.05 and 9.07), an
amount equal to 100% of the Net Sale Proceeds from such Asset Sale shall be applied as a mandatory
repayment and/or commitment reduction in accordance with the requirements of Sections 4.02(g) and
(h); provided that (I) Net Sale Proceeds from any Asset Sale (other than (w) Net Sale
Proceeds from any Contemplated Asset Sale consummated in accordance with the requirements of
Section 9.02(xviii), (x) any Net Sale Proceeds from the sale of any Principal Property pursuant to
Section 9.02(xix) and (y) Net Sale Proceeds in excess of $100,000,000 in the aggregate in any
fiscal year of the U.S. Borrower received from Asset Sales made in reliance on Section 9.02(v))
shall not give rise to a mandatory repayment and/or commitment reduction on such date as otherwise
required above, so long as no Specified Default and no Event of Default exists at the time such Net
Sale Proceeds are received and an Authorized Officer of the U.S. Borrower has delivered a
certificate to the Administrative Agent on or prior to such date stating that such Net Sale
Proceeds shall be used (or contractually committed to be used) to purchase capital assets used or
to be used in a Permitted Business (other than inventory) within 360 days following the date of
receipt of such Net Sale Proceeds from such Asset Sale (which certificate shall set forth (in
reasonable detail) the estimates of the proceeds to be so expended) and (II) Net Sale Proceeds from
one (but not more than one) sale of a Principal Property consummated after the Restatement
Effective Date in reliance on Section 9.02(xix) and notified in writing to the Administrative Agent
shall not give rise to a mandatory repayment and/or commitment reduction on such date as otherwise
required above, so long as no Specified Default and no Event of Default exists at the time such Net
Sale Proceeds are received and an Authorized Officer of the U.S. Borrower has delivered a
certificate to the Administrative Agent on or prior to such date stating that such Net Sale
Proceeds shall be used (or contractually committed to be used) to purchase, construct and/or make
investments in a new Principal Property (or assets and properties that upon completion of such
purchase, construction and/or investments will become a Principal Property) within 360 days
following the date of receipt of such Net Sale Proceeds from such sale of such Principal Property
(which certificate shall set forth the estimates of the proceeds to be so expended); provided, however, that (I) if all or any portion of
such Net Sale Proceeds are not so used within such 360-day period (or contractually committed
within such period to be used), such remaining portion shall be applied on the last day of such
period as a mandatory repayment as provided above (without giving effect to the immediately
preceding proviso) and (II) if all or any portion of such Net Sale Proceeds are not required to be
applied on the last day of such 360-day period referred to in clause (I) of this proviso because
such amount is contractually committed within such period to be used and then either (A) subsequent
to such date such contract is terminated or expires without such portion being so used or (B) such
contractually committed portion is not so used within six months after the last day of such 360-day
period referred to in clause (I) of this proviso, such remaining portion, in the case of either of
the preceding clauses (A) or (B), shall be applied as a mandatory repayment as provided above
(without giving effect to the im
mediately preceding proviso). Notwithstanding anything to the
contrary contained in this Section 4.02(c), (x) if any Permitted Senior Notes Document (after the
execution and delivery thereof), any Permitted Refinancing Senior Notes Document (after the
execution and delivery thereof) or the Existing Senior Notes Documents permit a lesser amount to be
retained or reinvested, or have a shorter reinvestment period, than is provided above with respect
to any Asset Sales, then such lesser permitted retained or reinvestment amount, and/or

-53-

 

shorter
reinvestment period, as the case may be, shall be applicable for purposes of this Section 4.02(c)
so long as such Permitted Senior Notes, Permitted Refinancing Senior Notes or Existing Senior
Notes, as the case may be, remain outstanding, and (y) in no event shall the U.S. Borrower or any
of its Subsidiaries use any proceeds from any Asset Sale to make any voluntary or mandatory
repayment or prepayment of Permitted Senior Notes, Permitted Refinancing Senior Notes or Existing
Senior Notes and, before any such obligation to use such proceeds to make such repayment shall
arise, the U.S. Borrower or the respective Subsidiary shall reinvest the respective amounts as
permitted above in this Section 4.02(c) or apply such proceeds as a mandatory prepayment in
accordance with requirements of Sections 4.02(g) and (h).

          (d) In addition to any other mandatory repayments or commitment reductions pursuant to this
Section 4.02, on each date on or after the Restatement Effective Date on which the U.S. Borrower or
any of its Subsidiaries receives any cash proceeds from any incurrence of Indebtedness which is not
permitted to be incurred by this Agreement, an amount equal to 100% of the Net Cash Proceeds of the
respective incurrence of Indebtedness shall be applied as a mandatory repayment in accordance with
the requirements of Sections 4.02(g) and (h).

          (e) In addition to any other mandatory repayments or commitment reductions pursuant to this
Section 4.02, within 10 days following each date on or after the Restatement Effective Date on
which the U.S. Borrower or any of its Subsidiaries receives any proceeds from any Recovery Event
(other than proceeds from Recovery Events in an amount less than $5,000,000 per Recovery
Event), an amount equal to 100% of the proceeds of such Recovery Event (net of reasonable costs
(including, without limitation, legal costs and expenses) and taxes incurred in connection with
such Recovery Event and the amount of such proceeds required to be used to repay any Indebtedness
(other than Indebtedness of the Lenders pursuant to this Agreement) which is secured by the
respective assets subject to such Recovery Event) shall be applied as a mandatory repayment and/or
commitment reduction in accordance with the requirements of Sections 4.02(g) and (h);
provided that so long as no Specified Default and no Event of Default then exists, such
proceeds shall not be required to be so applied on such date to the extent that an Authorized
Officer of the U.S. Borrower has delivered a certificate to the Administrative Agent
on or prior to such date stating that such proceeds shall be used (or contractually committed
to be used) within 360 days following the date of receipt of such proceeds from such Recovery Event
to replace or restore any properties or assets in respect of which such proceeds were paid (which
certificate shall set forth the estimates of the proceeds to be so expended), and provided,
further, that (I) if all or any portion of such proceeds are not so used (or contractually
committed to be used) within such 360-day period, such remaining portion shall be applied as a
mandatory repayment and/or commitment reduction as provided above (without giving effect to the
immediately preceding proviso) and (II) if all or any portion of such proceeds are not required to
be applied on the last day of such 360-day period referred to in clause (I) of this proviso because
such amount is contractually committed to be used and then either (A) subsequent to such date such
contract is terminated or expires without such portion being so used or (B) such contractually
committed portion is not so used within six months after the last day of such 360-day period
referred to in clause (I) of this proviso, such remaining portion, in the case of either of the
preceding clauses (A) or (B), shall be applied as a mandatory repayment and/or commitment reduction
as provided above (without giving effect to the immediately preceding proviso).

-54-

 

          (f) In addition to any other mandatory repayments or commitment reductions pursuant to this
Section 4.02, on each Excess Cash Payment Date, an amount equal to the remainder (if positive) of
(x) the Applicable Prepayment Percentage of the Excess Cash Flow for the relevant Excess Cash Flow
Payment Period minus (y) the aggregate amount of principal repayments of Loans (and
Original Loans to the extent (and only to the extent) that such repayments were made as a voluntary
prepayment pursuant to Section 4.01 hereof (or the Original Credit Agreement, as applicable) with
internally generated funds during the relevant Excess Cash Flow Payment Period, shall be applied as
a mandatory repayment and/or commitment reduction in accordance with the requirements of Sections
4.02(g) and (h).

          (g) (I) Each amount required to be applied pursuant to Sections 4.02(c), (d), (e), and (f) in
accordance with this Section 4.02(g) shall be applied, subject to immediately succeeding clause
(IV), (i) first, to repay the outstanding principal amount of Term Loans and (ii)
second, to the extent in excess of the amounts applied pursuant to preceding clause (i), as
a mandatory reduction to the Total Incremental Term Loan Commitment in effect at such time (if
any).

          (II) Each amount required to be applied to repay outstanding Term Loans pursuant to this
Section 4.02(g) shall, subject to succeeding clause (IV) and the immediately succeeding proviso, be
applied pro rata to each Tranche of Term Loans (based upon the TL Repayment Percentages of the
various Tranches of Term Loans and the then outstanding principal amounts of the respective
Tranches of Term Loans); provided that (i) the Net Sale Proceeds from any Asset Sale
effected by the U.S. Borrower or any of its Domestic Subsidiaries and proceeds from any Recovery
Event with respect to the properties or assets of the U.S. Borrower or any of its Domestic
Subsidiaries and, in each case, required to be applied to the repayment of Term Loans pursuant to
clause (I) of this Section 4.02(g), shall be applied (x) first, to repay principal of
outstanding Tranche B Term Loans and U.S. Borrower Incremental Term Loans, if any (on a pro
rata basis to each Tranche of U.S. Borrower Term Loans based on the TL Repayment
Percentages of such Tranches of U.S. Borrower Term Loans and the then outstanding principal amount
of the Tranche B Term Loans and each such Tranche of U.S. Borrower Incremental Term Loans (but, for
such purposes, as if no Bermuda Borrower Term Loans were then outstanding)) and (y) second,
after the repayment in full of all outstanding U.S. Borrower Term
Loans, to repay principal of outstanding Tranche C Term Loans and Bermuda Borrower Incremental
Term Loans (on a pro rata basis to each such Tranche of Term Loans, based upon the
TL Repayment Percentages of such Tranches of Term Loans and the then outstanding principal amounts
of such Tranches of Term Loans) and (ii) the Net Sale Proceeds from any Asset Sale effected by any
Foreign Subsidiary of the U.S. Borrower and the proceeds from any Recovery Event with respect to
the properties or assets of any Foreign Subsidiary of the U.S. Borrower and, in each case, required
to be applied to the repayment of Term Loans pursuant to clause (I) of this Section 4.02(g), shall
be applied (x) first, to repay principal of outstanding Tranche C Term Loans and Bermuda
Borrower Incremental Term Loans (on a pro rata basis to each such Tranche of Term
Loans, based upon the TL Repayment Percentages of such Tranches of Term Loans and the then
outstanding principal amounts of such Tranches of Term Loans (but, for such purposes, as if no U.S.
Borrower Term Loans were then outstanding)) and (y) second, after the repayment in full of
all outstanding Bermuda Borrower Term Loans, to repay principal of outstanding Tranche B Term Loans
and U.S. Borrower Incremental Term Loans, if any (on a pro rata basis to each
Tranche of U.S. Borrower Term Loans based on the TL Repayment Percentages of such

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Tranches of U.S.
Borrower Term Loans and the then outstanding principal amount of such Tranches of U.S. Borrower
Term Loans).

          (III) All repayments or commitment reductions, as the case may be, of outstanding Term Loans
or Incremental Term Loan Commitments of a given Tranche, as the case may be, pursuant to Section
4.02(c), (d), (e) or (f) shall be applied to reduce the then remaining Scheduled Repayments of the
respective Tranche of Term Loans on a pro rata basis (based upon the then remaining
principal amounts of the Scheduled Repayments of such Tranche of Term Loans after giving effect to
all prior reductions thereto); provided that if Incremental Term Loan Commitments of a
given Tranche are not included as part of the Incremental Term Loan Scheduled Repayments for such
Tranche set forth in the respective Incremental Term Loan Commitment Agreement (e.g.,
because the Incremental Term Loan Scheduled Repayments are set forth on a percentage basis rather
in a Dollar amount), no such reduction to the respective Incremental Term Loan Scheduled Repayments
shall be required as a result of a reduction in the Incremental Term Loan Commitments of such
Tranche.

          (IV) Notwithstanding anything to the contrary in this Section 4.02, neither the U.S. Borrower
nor any of its Subsidiaries shall be obligated to apply any Net Sale Proceeds pursuant to this
Section 4.02(g) to the extent attributable to any Asset Sales of ABL Priority Collateral
(including, in the case of an Asset Sale consisting of the sale of all or substantially all of the
capital stock or equity interests in, any U.S. Credit Party, that portion of the proceeds
determined in good faith by the U.S. Borrower to be attributable to the ABL Priority Collateral
owned by such U.S. Credit Party at the time of the consummation of such Asset Sale) to the extent
that such Net Sale Proceeds are required to be and are applied to the repayment of ABL Loans (or to
the permanent reduction of any commitment under the ABL Credit Agreement) in accordance with the
terms of the ABL Credit Agreement.

          (h) With respect to each repayment of Loans required by this Section 4.02, the respective
Borrower may (subject to the requirements of preceding Section 4.02(g)) designate the Types of
Loans of the respective Tranche which are to be repaid and, in the case of Eurodollar Loans, the
specific Borrowing or Borrowings of the respective Tranche pursuant to which made, provided
that: (i) in the case of repayments of Eurodollar Loans pursuant to this Section
4.02 on any day other than the last day of an Interest Period applicable thereto, such
repayments shall be accompanied by payment by the respective Borrower of all amounts owing in
connection therewith pursuant to Section 1.11(a), (ii) if any repayment of Eurodollar Loans made
pursuant to a single Borrowing shall reduce the outstanding Eurodollar Loans made pursuant to such
Borrowing to an amount less than the Minimum Borrowing Amount applicable to the Eurodollar
Loans, such Borrowing, shall be converted at the end of the then current Interest Period into a
Borrowing of Base Rate Loans, and (iii) each repayment of any Tranche of Loans made pursuant to a
Borrowing shall be applied pro rata among such Tranche of Loans. In the absence of
a designation by the respective Borrower as described in the preceding sentence, the Administrative
Agent shall, subject to the above, make such designation in its sole discretion with a view, but no
obligation, to minimize breakage costs owing under Section 1.11(a).

          (i) Notwithstanding anything to the contrary contained elsewhere in this Agreement, (i) all
other then outstanding Loans shall be repaid in full on the respective Maturity Date for such Loans
and (ii) unless the Required Lenders shall otherwise agree in writing in their

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sole discretion, all
outstanding Loans shall be repaid in full upon the occurrence of a Change of Control.

          (j) For purposes of clarity, it is understood and agreed that none of Sections 4.02(c) through
(f), inclusive, shall require that amounts received by any Foreign Subsidiary or Foreign
Subsidiaries be used to repay Obligations owed by any U.S. Credit Parties, but that said Sections
merely determine the amounts required to be applied by the various Borrowers to the repayment of
their Obligations as more fully described in this Section 4.02.

          (k) In addition to the mandatory repayments required above, on the Restatement Effective Date
the Borrowers shall make all repayments required pursuant to Section 4.02(a) of the Original Credit
Agreement as a result of the termination of the Total Multicurrency Facility Revolving Loan
Commitment (as defined in the Original Credit Agreement) and the termination of the Total Dollar
Facility Revolving Loan Commitment (as defined in the Original Credit Agreement), as provided in
Section 3.03(g) hereof; provided that no cash collateralization shall be required with
respect to any Existing Letter of Credit or Existing Bank Guaranty, each as defined herein. Also
on the Restatement Effective Date, the Borrowers shall cause all Letters of Credit (other than
Existing Letters of Credit as defined herein) and Bank Guaranties (other than Existing Bank
Guaranties as defined herein) under, and as defined in, the Original Credit Agreement to be
terminated and returned to the respective Issuing Lender (as defined in the Original Credit
Agreement) or Bank Guaranty Issuer (as defined in the Original Credit Agreement). On the
Restatement Effective Date, the respective Borrowers shall also be obligated to pay to the Original
Lenders any breakage or other costs of the type referred to in Section 1.11 of the Original Credit
Agreement (if any) incurred in connection with the repayments required above.

          In addition to the mandatory repayments required above, on the Restatement Effective Date the
Borrower shall repay in full all outstanding Tranche A Term Loans under, and as defined in, the
Original Credit Agreement. On the Restatement Effective Date, the Bermuda Borrower shall also be
obligated to pay to the respective Original Lenders any breakage or other costs of the type
referred to in Section 1.11 of the Original Credit Agreement (if any) incurred in connection with
the repayments required above.

          4.03 Method and Place of Payment. Except as otherwise specifically provided herein,
all payments under this Agreement or any Note shall be made to the Administrative Agent for the
account of the Lender or Lenders entitled thereto not later than 2:00 P.M. (New York time) on the
date when due and shall be made in Dollars in immediately available funds at the Payment Office of
the Administrative Agent. The Administrative Agent will thereafter cause to be distributed on the
same day (if payment was actually received by the Administrative Agent prior to 2:00 P.M. (New York
time) like funds relating to payment of principal, interest or Fees ratably to the Lenders entitled
thereto. Any payments under this Agreement which are made later than 2:00 P.M. (New York time)
shall be deemed to have been made on the next succeeding Business Day. Whenever any payment to be
made hereunder or under any Note shall be stated to be due on a day which is not a Business Day,
the due date thereof shall be extended to the next succeeding Business Day and, with respect to
payments of principal, interest shall be payable at the applicable rate during such extension.

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          4.04 Net Payments. (a) All payments made by any Credit Party under any Credit
Document (including, in the case of a Credit Agreement Party, in its capacity as a guarantor
pursuant to Section 14) or under any Note will be made without setoff, counterclaim or other
defense. Except as provided in Section 4.04(b), all such payments will be made free and clear of,
and without deduction or withholding for, any present or future taxes, levies, imposts, duties,
fees, assessments or other charges of whatever nature now or hereafter imposed by any jurisdiction
or by any political subdivision or taxing authority thereof or therein with respect to such
payments (but excluding, except as provided in the second succeeding sentence, any tax imposed on
or measured by the net income of a Lender pursuant to the laws of the jurisdiction in which it is
organized or the jurisdiction in which the principal office or applicable lending office of such
Lender is located or any subdivision thereof or therein) and all interest, penalties or similar
liabilities with respect thereto (all such non-excluded taxes, levies, imposts, duties, fees,
assessments or other charges being referred to collectively as “Taxes”). If any Taxes are
so levied or imposed, the respective Borrower (and any other Credit Party making the payment)
agrees to pay the full amount of such Taxes, and such additional amounts as may be necessary so
that every payment of all amounts due under this Agreement or under any Note, after withholding or
deduction for or on account of any Taxes, will not be less than the amount provided for
herein or in such Note. If any amounts are payable in respect of Taxes pursuant to the preceding
sentence, then the respective Borrower (and any other Credit Party making the payment) shall be
obligated to reimburse each Lender, upon the written request of such Lender, for the net additional
taxes (after taking into account available credits with respect to such withholding taxes) imposed
on or measured by the net income of such Lender pursuant to the laws of the jurisdiction in which
such Lender is organized or in which the principal office or applicable lending office of such
Lender is located or under the laws of any political subdivision or taxing authority of any such
jurisdiction in which such Lender is organized or in which the principal office or applicable
lending office of such Lender is located and for any withholding of taxes as such Lender shall
determine are payable by, or withheld from, such Lender in respect of such amounts so paid to or on
behalf of such Lender pursuant to the preceding sentence and in respect of any amounts paid to or
on behalf of such Lender pursuant to this sentence, the respective Borrower (or Credit Party) will
furnish to the Administrative Agent within 45 days after the date of the payment of any Taxes due
pursuant to applicable law certified copies of tax receipts evidencing such payment by such
Borrower (or the respective other Credit Party). The Credit Agreement Parties jointly and
severally agree (and each Subsidiary Guarantor pursuant to its respective Subsidiary Guaranty, and
the
incorporation by reference therein of the provisions of this Section 4.04, shall agree) to
indemnify and hold harmless each Lender, and reimburse such Lender upon its written request, for
the amount of any Taxes so levied or imposed and paid by such Lender.

          (b) Each Lender that is not a United States person (as such term is defined in Section
7701(a)(30) of the Code) agrees to deliver to the U.S. Borrower and the Administrative Agent on or
prior to the Restatement Effective Date, or in the case of a Lender that is an assignee or
transferee of an interest under this Agreement pursuant to Section 1.13 or 13.04 (unless the
respective Lender was already a Lender hereunder immediately prior to such assignment or transfer),
on the date of such assignment or transfer to such Lender, (i) two accurate and complete original
signed copies of Internal Revenue Service Form W-8ECI or Form W-8BEN (with respect to a complete
exemption under an income tax treaty) (or successor forms) certifying to such Lender’s entitlement
as of such date to a complete exemption from United States withholding tax with respect to payments
to be made under this Agreement and under any Note, or (ii) if

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the Lender is not a “bank” within
the meaning of Section 881(c)(3)(A) of the Code and cannot deliver either Internal Revenue Service
Form W-8ECI or Form W-8BEN (with respect to a complete exemption under an income tax treaty)
pursuant to clause (i) above, (x) a certificate substantially in the form of Exhibit D (any such
certificate, a “Section 4.04(b)(ii) Certificate”) and (y) two accurate and complete
original signed copies of Internal Revenue Service Form W-8BEN (with respect to the portfolio
interest exemption) (or successor form) certifying to such Lender’s entitlement as of such date to
a complete exemption from United States withholding tax with respect to payments of interest to be
made under this Agreement and under any Note. In addition, each Lender agrees that from time to
time after the Restatement Effective Date, when a lapse in time or change in circumstances renders
the previous certification obsolete or inaccurate in any material respect, it will deliver to the
U.S. Borrower and the Administrative Agent two new accurate and complete original signed copies of
Internal Revenue Service Form W-8ECI, Form W-8BEN (with respect to the benefits of any income tax
treaty), or Form W-8BEN (with respect to the portfolio interest exemption) and a Section
4.04(b)(ii) Certificate, as the case may be, and such other forms as may be required in order to
confirm or establish the entitlement of such Lender to a continued exemption from or reduction in
United States withholding tax with respect to payments under this Agreement and any Note, or it
shall immediately notify the U.S. Borrower and the Administrative Agent of its inability to deliver
any such Form or Certificate, in which case such Lender shall not be required to deliver any such
Form or Certificate pursuant to this Section 4.04(b). Notwithstanding anything to the contrary
contained in Section 4.04(a), but subject to Section 13.04(b) and the immediately succeeding
sentence, (x) the U.S. Borrower shall be entitled, to the extent it is required to do so by law, to
deduct or withhold income or similar taxes imposed by the United States (or any political
subdivision or taxing authority thereof or therein) from interest, fees or other amounts payable by
the U.S. Borrower hereunder for the account of any Lender which is not a United States person (as
such term is defined in Section 7701(a)(30) of the Code) for U.S. Federal income tax purposes to
the extent that such Lender has not provided to the U.S. Borrower U.S. Internal Revenue Service
Forms that establish a complete exemption from such deduction or withholding and (y) the U.S.
Borrower shall not be obligated pursuant to Section 4.04(a) hereof to gross-up payments to be made
to a Lender in respect of income or similar taxes imposed by the United States if (I) such Lender
has not provided to the U.S. Borrower the Internal Revenue Service Forms required to be provided to
the U.S. Borrower pursuant to this Section 4.04(b) or (II) in the case of a payment, other than
interest, to a Lender described in clause (ii) above, to the extent that such forms do not
establish a complete exemption from withholding of such taxes. Notwithstanding anything to the contrary contained in
the preceding sentence or elsewhere in this Section 4.04 and except as set forth in Section
13.04(b), the U.S. Borrower agrees to pay additional amounts and to indemnify each Lender in the
manner set forth in Section 4.04(a) (without regard to the identity of the jurisdiction requiring
the deduction or withholding) in respect of any amounts deducted or withheld by it as described in
the immediately preceding sentence (x) as
 a result of any changes after the Restatement Effective
Date (or, if later, the date such Lender became party to this Agreement) in any applicable law,
treaty, governmental rule, regulation, guideline or order, or in the interpretation thereof,
relating to the deducting or withholding of income or similar taxes or (y) as a result of the
purchase of a participation as required by Section 1.14 following the occurrence of a Sharing
Event.

          Section 5. [Reserved].

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          Section 6. Conditions Precedent to All Credit Events.The obligation of each Lender to
make Loans (including Loans made on the Restatement Effective Date), the obligation of the each CL
Lender to fund its Credit-Linked Deposit and the obligation of an Issuing Lender to issue any
Letter of Credit (including any Existing Letters of Credit, deemed issued on the Restatement
Effective Date as contemplated by Section 2A.01(d)) and the obligation of a Bank Guaranty Issuer to
issue any Bank Guaranty (including Existing Bank Guaranties, deemed issued on the Restatement
Effective Date as contemplated by Section 2B.01(d)), is subject, at the time of each such Credit
Event (except as hereinafter indicated), to the satisfaction of the following conditions:

          6.01 No Default; Representations and Warranties. At the time of each such Credit Event
and immediately after giving effect thereto (i) there shall exist no Default or Event of Default
and (ii) all representations and warranties contained herein or in any other Credit Document shall
be true and correct in all material respects with the same effect as though such representations
and warranties had been made on the date of such Credit Event (it being understood and agreed that
any representation or warranty which by its terms is made as of a specified date shall be required
to be true and correct in all material respects only as of such specified date).

          6.02 Notice of Borrowing; Letter of Credit Request; etc. (a) Prior to the making of
each Loan, the Administrative Agent shall have received a Notice of Borrowing meeting the
requirements of Section 1.03.

          Prior to the issuance of each Letter of Credit (other than the Existing Letters of Credit),
the Administrative Agent and the respective Issuing Lender shall have received a Letter of Credit
Request meeting the requirements of Section 2A.03(a).

          (b) Prior to the issuance of each Bank Guaranty (other than the Existing Bank Guaranties), the
Administrative Agent and the respective Bank Guaranty Issuer shall have received a Bank Guaranty
Request meeting the requirements of Section 2B.03(a).

          6.03 Incremental Term Loans. Prior to the incurrence of any Incremental Term Loans,
the applicable Incremental Term Loan Borrower shall have satisfied (or caused to be satisfied) all
of the applicable conditions set forth in Section 1.15.

          The occurrence of the Restatement Effective Date and the acceptance of the benefits or
proceeds of each Credit Event shall constitute a representation and warranty by each Credit
Agreement Party to each Agent and each of the Lenders that all the conditions specified in Section
5 of the Original Credit Agreement (with respect to Credit Events occurring on the Restatement
Effective Date) and Section 6 (with respect to Credit Events on and after the Restatement Effective
Date) and applicable to such Credit Event (other than such conditions that are expressly subject to
the satisfaction of the Agents and/or the Required Lenders) exist as of that time. All of the
Notes, certificates, legal opinions and other documents and papers referred to in Sections 5 and 6,
unless otherwise specified, shall be delivered to the Administrative Agent at the Notice Office for
the account of each of the Lenders and, except for the Notes, in sufficient counterparts or copies
for each of the Lenders and shall be in form and substance reasonably satisfactory to the Lenders
(as evidenced by their execution and delivery of this Agreement).

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          Section 7. Representations and Warranties.In order to induce the Lenders to enter
into this Agreement, to make (and/or continue) the Loans, fund the Credit-Linked Deposits and issue
and/or participate in the Letters of Credit and Bank Guaranties as provided for herein, each Credit
Agreement Party makes the following representations, warranties and agreements with the Lenders, in
each case after giving effect to the Transaction, all of which shall survive the execution and
delivery of this Agreement, the making of the Loans, the funding of the Credit-Linked Deposits and
the issuance (or deemed issuance) of the Letters of Credit and Bank Guaranties (with the occurrence
of the Restatement Effective Date and each Credit Event on or after the Restatement Effective Date
being deemed to constitute a representation and warranty that the matters specified in this Section
7 are true and correct in all material respects on and as of the Restatement Effective Date and on
and as of the date of each such Credit Event, unless stated to relate to a specific earlier date in
which case such representations and warranties shall be true and correct in all material respects
as of such earlier date):

          7.01 Company Status. Each of the U.S. Borrower and each of its Subsidiaries (i) is a
duly organized and validly existing Company in good standing (or its equivalent) under the laws of
the jurisdiction of its organization, (ii) has the Company power and authority to own its property
and assets and to transact the business in which it is engaged and presently proposes to engage and
(iii) is duly qualified and is authorized to do business and is in good standing (or its
equivalent) in all jurisdictions where it is required to be so qualified (or its equivalent) and
where the failure to be so qualified has had, or could reasonably be expected to have, a Material
Adverse Effect.

          7.02 Company Power and Authority. Each Credit Party and each Subsidiary thereof has
the Company power and authority to execute, deliver and carry out the terms and provisions of the
Documents to which it is a party and has taken all necessary Company action to authorize the
execution, delivery and performance of the Documents to which it is a party. Each Credit Party and
each Subsidiary thereof has duly executed and delivered each Document to which it is a party and
each such Document constitutes the legal, valid and binding obligation of such Credit Party
enforceable in accordance with its terms, except to the extent that the enforceability thereof may
be limited by applicable bankruptcy, insolvency, reorganization, moratorium or similar laws
generally affecting creditors’ rights and by equitable principles (regardless of whether
enforcement is sought in equity or at law).

          7.03 No Violation. (a) Neither the execution, delivery or performance by any Credit
Party or any Subsidiary thereof of the Documents to which it is a party, nor compliance by any
Credit Party or any such Subsidiary with the terms and provisions thereof, nor the consummation of
the transactions contemplated herein or therein, (i) will contravene any material provision of any
applicable law, statute, rule or regulation, or any order, writ, injunction or decree of any court
or governmental instrumentality, (ii) will conflict or be inconsistent with or result in any breach
of, any of the terms, covenants, conditions or provisions of, or constitute a default under, or
(other than pursuant to the Security Documents) result in the creation or imposition of (or the
obligation to create or impose) any Lien upon any of the material property or assets of the U.S.
Borrower or any of its Subsidiaries pursuant to the terms of any indenture, mortgage, deed of
trust, loan agreement, credit agreement or any other material agreement, contract or instrument to
which the U.S. Borrower or any of its Subsidiaries is a party or by which it or any of its material
property or assets are bound or to which it may be subject (including, without limitation,

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the ABL
Credit Documents, the Existing Senior Notes Documents and the other Existing Indebtedness
Agreements and, on and after the execution and delivery thereof, any Permitted Senior Notes
Indenture and any Permitted Refinancing Senior Notes Document) or (iii) will violate any provision
of the certificate of incorporation, by-laws, certificate of partnership, partnership agreement,
certificate of limited liability company, limited liability company agreement or equivalent
organizational document, as the case may be, of the U.S. Borrower or any of its Subsidiaries.

          (b) Without limiting the generality of the foregoing in Section 7.03(a):

     (i) this Agreement, together with the ABL Credit Agreement, constitute (individually
and collectively) the “Credit Agreement” under, and as defined in, each Existing Senior
Notes Indenture;

     (ii) the incurrence by the relevant Borrowers of the Loans and other Indebtedness
hereunder under on the Restatement Effective Date and on the date of each subsequent Credit
Event will not violate any of (I) Section 4.9 of the Existing 2011 Senior Notes Indenture or
any other provision thereof or (II) Section 1014 of the Existing 2013 Senior Notes Indenture
or any other provision thereof and, without limiting the foregoing, on the Restatement
Effective Date, neither the incurrence of any Loans to be incurred on such date, nor the
incurrence of Indebtedness in the full amount of the commitments available under the ABL
Credit Agreement and pursuant to the Total Credit-Linked Commitment (as if, in each case,
such commitments were fully utilized on such date), would violate any of the sections
specifically set forth above (or any other provision) of the Existing Senior Notes
Indentures;

     (iii) on the Restatement Effective Date, all Subsidiary Guarantors which are Domestic
Subsidiaries of the U.S. Borrower are “Restricted Subsidiaries” under, and as defined in,
each Existing Senior Notes Indenture and have executed and delivered guaranties in
accordance with the requirements of the respective Existing Senior Notes Indentures; and

     (iv) for the purpose of the definition of “Permitted Indebtedness” under, and
as defined in, each Existing Senior Notes Indenture, on the Restatement Effective Date no
repayment of term loans and/or permanent commitment reductions in the revolving credit
portion of the Credit Agreement (as defined therein) has theretofore occurred (whether prior
to, or on, the Restatement Effective Date) which has resulted in any reduction to the
maximum aggregate amount of Indebtedness permitted to be incurred pursuant to, or under, the
Credit Agreement (as defined therein) in accordance with the applicable Existing Senior
Notes Indenture.

          7.04 Litigation. There are no actions, suits, proceedings or investigations pending
or, to the knowledge of any Senior Officer, threatened (i) with respect to any Credit Document,
(ii) with respect to the Transaction or any other Document or (iii) that have had, or could
reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect.
Additionally, there does not exist any judgment, order or injunction prohibiting or imposing
material adverse conditions upon the occurrence of any Credit Event.

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          7.05 Use of Proceeds; Margin Regulations. (a) The proceeds of the Tranche B Term
Loans and the Tranche C Term Loans shall be utilized by the U.S. Borrower and the Bermuda Borrower,
respectively, on the Restatement Effective Date solely to finance the Refinancing and to pay fees
and expenses incurred in connection with the Transaction. All proceeds of Incremental Term Loans
incurred by each Incremental Term Loan Borrower shall be used for any purpose permitted under this
Agreement, including, without limitation, (i) to finance Permitted Acquisitions (and to pay the
fees and expenses related thereto) and to refinance any Indebtedness assumed as part of any such
Permitted Acquisitions (and to pay all accrued and unpaid interest thereon, any prepayment premium
associated therewith and the fees and expenses related thereto), (ii) to prepay outstanding Loans
in accordance with the terms of this Agreement and to prepay outstanding ABL Loans in accordance
with the terms of the ABL Credit Agreement and (iii) for the Incremental Term Loan Borrowers’ and
their respective Subsidiaries’ ongoing working capital requirements and general corporate purposes.

          (b) At the time of each Credit Event occurring on or after the Restatement Effective Date, the
aggregate value of all Margin Stock (other than treasury stock) owned by the U.S. Borrower and its
Subsidiaries (for such purpose, using the initial purchase price paid by the U.S. Borrower or such
Subsidiary for the respective shares of Margin Stock) does not exceed $10,000,000. In addition, at
the time of each Credit Event occurring on or after the Restatement Effective Date, the value of
the Margin Stock at any time owned by the U.S. Borrower and its Subsidiaries does not exceed 25% of
the value of the assets of the U.S. Borrower and its Subsidiaries taken as a whole. Neither the
making of any Loan nor the use of the proceeds thereof nor the occurrence of any other Credit Event
will violate or be inconsistent with the provisions of Regulation T, Regulation U or Regulation X.

          7.06 Governmental Approvals. Except as may have been obtained or made on or prior to
the Restatement Effective Date (and which remain in full force and effect on the Restatement
Effective Date), no order, consent, approval, license, authorization or validation of, or filing,
recording or registration with, or exemption by, any foreign or domestic governmental or public
body or authority, or any subdivision thereof, is required to authorize or is required in
connection with (i) the execution, delivery and performance of any Document or (ii) the legality,
validity, binding effect or enforceability of any Document.

          7.07 Investment Company Act. Neither the U.S. Borrower nor any of its Subsidiaries is
an “investment company” or a company “controlled” by an “investment company,” within the meaning of
the Investment Company Act of 1940, as amended.

          7.08 Public Utility Holding Company Act. Neither the U.S. Borrower nor any of its
Subsidiaries is a “holding company,” or a “subsidiary company” of a “holding company,” or an
"affiliate” of a “holding company” or of a “subsidiary company” of a “holding company,”
within the meaning of the Public Utility Holding Company Act of 1935, as amended.

          7.09 True and Complete Disclosure. All factual information (taken as a whole)
heretofore or contemporaneously furnished by or on behalf of the U.S. Borrower or any of its
Subsidiaries in writing to any Agent or any Lender (including, without limitation, all information
contained in the Documents) for purposes of or in connection with this Agreement, the other
Documents or any transaction contemplated herein or therein is, and all other such factual
infor-

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mation (taken as a whole) hereafter furnished by or on behalf of any such Persons in writing
to any Agent or any Lender will be, true and accurate in all material respects on the date as of
which such information is dated or certified and not incomplete by omitting to state any material
fact necessary to make such information (taken as a whole) not misleading in any material respect
at such time in light of the circumstances under which such information was provided, it being
understood and agreed that for purposes of this Section 7.09, such factual information shall not
include the Projections or any projected financial information contained in any financial
projections delivered pursuant to Section 8.01(c).

          7.10 Financial Condition; Financial Statements. (a) On and as of the Restatement
Effective Date, on a pro forma basis after giving effect to the Transaction and to
all Indebtedness (including the Loans) incurred, and to be incurred, and Liens created, and to be
created, by each Credit Party in connection therewith, with respect to each Borrower (on a
stand-alone basis), and each Borrower and its Subsidiaries (on a consolidated basis) (x) the sum of
the assets, at a fair valuation, of each Borrower (on a stand-alone basis) and each Borrower and
its Subsidiaries (on a consolidated basis) will exceed its or their debts, (y) it has or they have
not incurred nor intended to, nor believes or believe that it or they will, incur debts beyond its
or their ability to pay such debts as such debts mature and (z) it or they will have sufficient
capital with which to conduct its or their business. For purposes of this Section 7.10(a), “debt”
means any liability on a claim, and “claim” means (i) right to payment, whether or not such a right
is reduced to judgment, liquidated, unliquidated, fixed, contingent, matured, unmatured, disputed,
undisputed, legal, equitable, secured or unsecured or (ii) right to an equitable remedy for breach
of performance if such breach gives rise to a payment, whether or not such right to an equitable
remedy is reduced to judgment, fixed, contingent, matured, unmatured, disputed, undisputed, secured
or unsecured. The amount of contingent liabilities at any time shall be computed as the amount
that, in the light of all facts and circumstances existing at such time, represents the amount that
can reasonably be expected to become an actual or matured liability.

          (b) (i) The audited consolidated statements of financial condition of the U.S. Borrower and
its Consolidated Subsidiaries at December 28, 2002, January 3, 2004 and January 1, 2005 and the
related consolidated statements of income and cash flows and changes in shareholders’ equity of the
U.S. Borrower and its Consolidated Subsidiaries for the fiscal years of the U.S. Borrower ended on
such dates, in each case furnished to the Lenders prior to the Restate
ment Effective Date, present fairly in all material respects the consolidated financial
position of the U.S. Borrower and its Consolidated Subsidiaries at the date of said financial
statements and the results for the respective periods covered thereby and (ii) the Pro Forma
Financial Statements present a good faith estimate of the consolidated pro forma
financial condition of the U.S. Borrower and its Consolidated Subsidiaries and the pro
forma results of operations of the U.S. Borrower and its Consolidated Subsidiaries for the
respective periods covered thereby (after giving effect to the Transaction at the date thereof or
for the period covered thereby). All of the financial statements referred to in clause (i) of the
immediately preceding sentence have been prepared in accordance with U.S. GAAP consistently applied
except to the extent provided in the notes to said financial statements.

          (c) Since December 31, 2005 (but after giving effect to the Transaction as if same had
occurred immediately prior thereto), nothing has occurred that has had, or could reasonably be
expected to have, individually or in the aggregate, a Material Adverse Effect.

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          (d) Except as fully reflected in the financial statements described in Section 7.10(b) and as
otherwise permitted by Section 9.04, (i) there were as of the Restatement Effective Date (and after
giving effect to any Loans made on such date), no liabilities or obligations with respect to the
U.S. Borrower or any of its Subsidiaries of any nature whatsoever (whether absolute, accrued,
contingent or otherwise and whether or not due) which, either individually or in the aggregate,
could reasonably be expected to be material to the U.S. Borrower and its Subsidiaries taken as a
whole and (ii) no Credit Agreement Party knows of any basis for the assertion against the U.S.
Borrower or any of its Subsidiaries of any such liability or obligation which, either individually
or in the aggregate, has had, or could reasonably be expected to have, a Material Adverse Effect.

          (e) The Projections have been prepared on a basis consistent with the financial statements
referred to in Section 7.10(b) and are based on good faith estimates and assumptions made by the
management of the U.S. Borrower, and on the Restatement Effective Date, the Borrowers believe that
the Projections are reasonable and attainable, it being recognized by the Lenders that such
projections of future events are not to be viewed as facts and that actual results during the
period or periods covered by any such Projections may differ from the projected results contained
therein. There is no fact known to any Credit Agreement Party or any of its Subsidiaries which has
had, or could reasonably be expected to have, a Material Adverse Effect, which has not been
disclosed herein or in such other documents, certificates and statements furnished to the Lenders
for use in connection with the transactions contemplated hereby.

          7.11 Security Interests. On and after the Restatement Effective Date, each of the
Security Documents creates (or after the execution and delivery thereof will create), as security
for the Obligations covered thereby, a valid and enforceable perfected security interest in and
Lien on all of the Collateral subject thereto, superior to and prior to the rights of all third
Persons, and subject to no other Liens (except that, subject to the provisions of the Intercreditor
Agreement, (i) the Security Agreement Collateral may be subject to Permitted Liens, (ii) the Pledge
Agreement Collateral may be subject to the Liens described in clauses (i) and (v) of Section 9.03
and clause (y) of Section 9.03(iii) and (iii) the security interest and mortgage lien created on
any Mortgaged Property may be subject to the Permitted Encumbrances related thereto), in favor of
the Collateral Agent (or such other trustee or sub-agent as may be required or desired under local
law). No filings or recordings are required in order to perfect and/or render enforceable as
against third parties the security interests created under any Security Document except for filings
or recordings required in connection with any such Security Document which shall have been made on
or prior to the Restatement Effective Date or on or prior to the execution and delivery thereof as
contemplated by Sections 8.11, 8.12, 8.15 and 9.11.

          7.12 Compliance with ERISA. (a) Schedule V sets forth, as of the Restatement
Effective Date, each Plan and each Multiemployer Plan. Each Plan (and each related trust,
insurance contract or fund) is in compliance in all respects with its terms and in all respects
with all applicable laws, including, without limitation, ERISA and the Code and in compliance with
the following, except to the extent that any such noncompliances, individually or in the aggregate,
would not result in a Material Adverse Effect; each Plan (and each related trust, if any) which is
intended to be qualified under Section 401(a) of the Code has received a determination letter from
the Internal Revenue Service to the effect that it meets the requirements of Sections 401(a) and
501(a) of the Code (or the sponsor has applied for such determination letter within the

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remedial
amendment period); (1) no Reportable Event has occurred; (2) to the knowledge of any Senior
Officer, no Multiemployer Plan is insolvent or in reorganization; (3) no Plan has an Unfunded
Current Liability; (4) no Plan which is subject to Section 412 of the Code or Section 302 of ERISA
has an accumulated funding deficiency, within the meaning of such sections of the Code or ERISA, or
has applied for or received a waiver of an accumulated funding deficiency or an extension of any
amortization period, within the meaning of Section 412 of the Code or Section 303 or 304 of ERISA;
(5) all required contributions with respect to a Plan and a Multiemployer Plan have been made; (6)
neither the U.S. Borrower nor any Subsidiary of the U.S. Borrower nor any ERISA Affiliate has
incurred any outstanding material liability (including any indirect, contingent or secondary
liability) to or on account of a Plan or a Multiemployer Plan pursuant to Section 409, 502(i),
502(l), 515, 4062, 4063, 4064, 4069, 4201, 4204 or 4212 of ERISA or Section 401(a)(29), 4971 or
4975 of the Code or expects to incur any such material liability under any of the foregoing
sections with respect to any Plan or a Multiemployer Plan; (7) no condition exists which presents a
material risk to the U.S. Borrower or any Subsidiary of the U.S. Borrower or any ERISA Affiliate of
incurring a material liability to or on account of a Plan or a Multiemployer Plan pursuant to the
foregoing provisions of ERISA and the Code; (8) no involuntary proceedings have been instituted to
terminate or appoint a trustee to administer any Plan which is subject to Title IV of ERISA; (9) no
action, suit, proceeding, hearing, audit or investigation with respect to the administration,
operation or the investment of assets of any Plan (other than routine claims for benefits) is
pending, expected or threatened; (10) using actuarial assumptions and computation methods
consistent with Part 1 of subtitle E of Title IV of ERISA, the aggregate liabilities of the U.S.
Borrower and its Subsidiaries and ERISA Affiliates to any Multiemployer Plans in the event of a
withdrawal therefrom, as of the close of the most recent fiscal year of each such Multiemployer
Plan ended prior to the date of the most recent Credit Event would not exceed $10,000,000; (11)
each group health plan (as defined in Section 607(1) of ERISA or Section 4980B(g)(2) of the Code)
which covers or has covered employees or former employees of the U.S. Borrower, any Subsidiary of
the U.S. Borrower, or any ERISA Affiliate has at all times been operated in compliance with the
provisions of Part 6 of subtitle B of Title I of ERISA and Section 4980B of the Code other than any
non-compliance which would not result in a material liability to the U.S. Borrower or any
Subsidiary of the U.S. Borrower; (12) no lien imposed under the Code or ERISA on the assets of the
U.S. Borrower or any Subsidiary of the U.S. Borrower or any ERISA Affiliate exists, is likely to
arise on account of any Plan or any Multiemployer Plan; and (13) and neither the U.S. Borrower nor any Subsidiary of the U.S.
Borrower maintains or contributes to (a) any employee welfare benefit plan (as defined in Section
3(1) of ERISA) which provides benefits to retired employees and/or other former employees (other
than as required by Section 601 of ERISA) or (b) any Plan, the obligations with respect to which
could reasonably be expected to have a Material Adverse Effect.

          (b) Each Foreign Pension Plan has been maintained in substantial compliance with its terms and
with the requirements of any and all applicable laws, statutes, rules, regulations and orders and
has been maintained, where required, in good standing with applicable regulatory authorities,
except to the extent that such noncompliances, individually or in the aggregate, would not result
in a Material Adverse Effect. All required contributions with respect to a Foreign Pension Plan
have been made. Neither the U.S. Borrower nor any of its Subsidiaries has incurred any material
outstanding obligation in connection with the termination of or withdrawal from any Foreign Pension
Plan. The present value of the accrued benefit liabilities (whether or not vested) under each
Foreign Pension Plan, determined as of the end of the U.S. Borrower’s

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most recently ended fiscal
year on the basis of actuarial assumptions, each of which is reasonable, did not exceed the current
value of the assets of such Foreign Pension Plan allocable to such benefit liabilities or
alternatively, the Foreign Pension Plan is funded in compliance with applicable law in all material
respects and the U.S. Borrower and its Subsidiaries have established adequate reserves for the
present value of such accrued benefit liabilities under such Foreign Pension Plan in the financial
statements delivered pursuant to Section 8.01(a) and (b).

          7.13 Capitalization. (a) On the Restatement Effective Date and after giving effect to
the Transaction, the authorized capital stock of the U.S. Borrower shall consist of 1,000 shares of
common stock, $.001 par value per share. All such outstanding shares have been duly and validly
issued, are fully paid and nonassessable and free of preemptive rights. Prior to the IPO
Transactions, the U.S. Borrower does not have outstanding any securities convertible into or
exchangeable for its capital stock or outstanding any rights to subscribe for or to purchase, or
any options for the purchase of, or any agreement providing for the issuance (contingent or
otherwise) of, or any calls, commitments or claims of any character relating to, its capital stock
or any stock appreciation or similar rights.

          (b) On the Restatement Effective Date and after giving effect to the Transaction, the
authorized capital stock of the Bermuda Borrower shall consist of 2,319,640,170 shares of common
stock, $.10 par value per share, of which 2,319,640,170 shares are issued and outstanding and owned
indirectly by the Bermuda Partnership. All such outstanding shares have been duly and validly
issued, are fully paid and nonassessable and free of preemptive rights. The Bermuda Borrower does
not have outstanding any securities convertible into or exchangeable for its capital stock or
outstanding any rights to subscribe for or to purchase, or any options for the purchase of, or any
agreement providing for the issuance (contingent or otherwise) of, or any calls, commitments or
claims of any character relating to, its capital stock or any stock appreciation or similar rights.

          7.14 Subsidiaries. On and as of the Restatement Effective Date and after giving effect
to the Transaction, Holdings has no Subsidiaries other than Westlake Wellbeing Company LLC, The
California Wellbeing Institute, LLC and Intermediate Holdco and its Subsidiaries, and Intermediate
Holdco has no Subsidiaries other than those Subsidiaries listed on Schedule VII.
Schedule VII correctly sets forth, as of the Restatement Effective Date and after giving
effect to the Transaction, (i) the percentage ownership (direct and indirect) of Intermediate
Holdco in each class of capital stock or other Equity Interests of each of its Subsidiaries and
also identifies the direct owner thereof and (ii) the jurisdiction of organization of each such
Subsidiary. All outstanding shares of capital stock or other Equity Interests of each Subsidiary
of the U.S. Borrower have been duly and validly issued, are fully paid and non-assessable and, in
the case of Non-Wholly Owned Subsidiaries of the U.S. Borrower, have been issued free of preemptive
rights. Except as set forth on Part B of Schedule X attached hereto, no Subsidiary of Intermediate
Holdco, as of the Restatement Effective Date has outstanding: (i) any securities convertible into
or exchangeable for its capital stock or other Equity Interests, (ii) any right to subscribe for or
to purchase, or any options or warrants for the purchase of, or any agreement providing for the
issuance (contingent or otherwise) of or any calls, commitments or claims of any character relating
to, its capital stock or (iii) other Equity Interests or any stock appreciation or similar rights.
Except for the existing investments described on Schedule VI, as of the Restatement Effective Date,
neither Holdings nor any of its Subsidiaries owns or holds, directly or indirectly, any capi-

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tal
stock or equity security of, or any other Equity Interests in, any Person other than its
Subsidiaries indicated on Schedule VII.

          7.15 Intellectual Property, etc. Each of the U.S. Borrower and each of its
Subsidiaries owns or has the right to use all domestic and foreign patents, trademarks, permits,
domain names, service marks, trade names, copyrights, licenses, franchises, inventions, trade
secrets, proprietary information and know-how of any type, whether or not written (including, but
not limited to, rights in computer programs and databases) and formulas, or other rights with
respect to the foregoing, and has obtained assignments of all leases, licenses and other rights of
whatever nature, in each case necessary for the conduct of its business, without any known conflict
with the rights of others which, or the failure to obtain which, as the case may be, individually
or in the aggregate, has had, or could reasonably be expected to have, a Material Adverse Effect.

          7.16 Compliance with Statutes; Agreements, etc. Each of the U.S. Borrower and each of
its Subsidiaries is in compliance with (i) all applicable statutes, regulations, rules and orders
of, and all applicable restrictions imposed by, all governmental bodies, domestic or foreign, in
respect of the conduct of its business and the ownership of its property and (ii) all contracts and
agreements to which it is a party, except such non-compliances as have not had, and could not
reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect.

          7.17 Environmental Matters. (a) Each of the U.S. Borrower and each of its
Subsidiaries has complied with, and on the date of each Credit Event is in compliance with, all
applicable Environmental Laws and the requirements of any permits issued under such Environmental
Laws and neither the U.S. Borrower nor any of its Subsidiaries is liable for any material
penalties, fines or forfeitures for failure to comply with any of the foregoing. There are no
pending or past or, to the knowledge of any Senior Officer, threatened Environmental Claims against
the U.S. Borrower or any of its Subsidiaries or any Real Property owned, leased or operated by the
U.S. Borrower or any of its Subsidiaries (including any such claim arising out of the ownership,
lease or operation by the U.S. Borrower or any of its Subsidiaries of any Real Property formerly
owned, leased or operated by the U.S. Borrower or any of its Subsidiaries but no longer
owned, leased or operated by the U.S. Borrower or any of its Subsidiaries). There are no
facts, circumstances, conditions or occurrences on any Real Property owned, leased or operated by
the U.S. Borrower or any of its Subsidiaries (including, to the knowledge of a Senior Officer, any
Real Property formerly owned, leased or operated by the U.S. Borrower or any of its Subsidiaries
but no longer owned, leased or operated by the U.S. Borrower or any of its Subsidiaries) or on any
property adjoining or in the vicinity of any such Real Property that would reasonably be expected
(i) to form the basis of an Environmental Claim against the U.S. Borrower or any of its
Subsidiaries or any such Real Property or (ii) to cause any such Real Property to be subject to any
restrictions on the ownership, occupancy, use or transferability of such Real Property by the U.S.
Borrower or any of its Subsidiaries under any applicable Environmental Law.

          (b) Hazardous Materials have not at any time been generated, used, treated or stored on, or
transported to or from, any Real Property owned, leased or operated by the U.S. Borrower or any of
its Subsidiaries except in compliance with all applicable Environmental Laws and in connection with
the operation, use and maintenance of such Real Property by the

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U.S. Borrower’s or such
Subsidiary’s business. Hazardous Materials have not at any time been Released on or from any Real
Property owned, leased or operated by the U.S. Borrower or any of its Subsidiaries or by any person
acting for or under contract to the U.S. Borrower or any of its Subsidiaries, or to the knowledge
of any Credit Agreement Party, by any other Person in respect of Real Property owned, leased or
operated by the U.S. Borrower or any of its Subsidiaries (including, to the knowledge of any Credit
Agreement Party, any Real Property owned, leased or operated by the U.S. Borrower or any of its
Subsidiaries but no longer owned, leased or operated by the U.S. Borrower or any of its
Subsidiaries), except in compliance with all applicable Environmental Laws in all material
respects.

          (c) Notwithstanding anything to the contrary in this Section 7.17, the representations made in
this Section 7.17 shall only be untrue if the aggregate effect of all conditions, failures,
noncompliances, Environmental Claims, Hazardous Materials, Releases and presence of underground
storage tanks, in each case of the types described above, has had, or could reasonably be expected
to have, individually or in the aggregate, a Material Adverse Effect.

          7.18 Properties. All Real Property (other than Real Property with an individual Fair
Market Value less than $1,000,000 as of the Restatement Effective Date) and vessels owned by the
U.S. Borrower or any of its Subsidiaries, and all material leaseholds leased by the U.S. Borrower
or any of its Subsidiaries, in each case as of the Restatement Effective Date and after giving
effect to the Transaction, and the nature of the interest therein, is correctly set forth in
Schedule III (and, to the extent that any such Real Property (or any portion thereof) constitutes
“Principal Property” (as defined in any of the Existing Senior Note Indentures), Schedule III
correctly identifies such Real Property (or the applicable portion thereof) as “Principal
Property”). Each of the U.S. Borrower and each of its Subsidiaries has good and marketable title
to, or a validly subsisting leasehold interest in, all material properties owned or leased by it,
including all Real Property and vessels reflected in Schedule III and in the financial statements
(including the Pro Forma Financial Statements) referred to in Section 7.10(b) (except (x) such
properties sold in the ordinary course of business since the dates of the respective financial
statements referred to therein, (y) such properties otherwise sold or transferred as permitted by
the terms of this Agreement and (z) such Real Properties owned by the U.S. Borrower or any of its
Subsidiaries which may be subject to immaterial defects of title which do not impair the use of
such Real
Property or the business conducted by the U.S. Borrower or such Subsidiary thereon), free and
clear of all Liens, other than Permitted Liens.

          7.19 Labor Relations. Neither the U.S. Borrower nor any of its Subsidiaries is engaged
in any unfair labor practice that has had, or could reasonably be expected to have, either
individually or in the aggregate, a Material Adverse Effect. There is (i) no unfair labor practice
complaint pending against the U.S. Borrower or any of its Subsidiaries or, to the knowledge of any
Senior Officer, threatened against any of them, before the National Labor Relations Board or any
similar foreign tribunal or agency, and no grievance or arbitration proceeding arising out of or
under any collective bargaining agreement is so pending against the U.S. Borrower or any of its
Subsidiaries or, to the knowledge of any Senior Officer, threatened against any of them, (ii) no
strike, labor dispute, slowdown or stoppage pending against the U.S. Borrower or any of its
Subsidiaries or, to the knowledge of any Senior Officer, threatened against the U.S. Borrower or
any of its Subsidiaries and (iii) no union representation question existing with respect to the
employees of the U.S. Borrower or any of its Subsidiaries and no union organizing activities are

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taking place, except (with respect to any matter specified in clause (i), (ii) or (iii) above,
either individually or in the aggregate) such as has not had, or could reasonably be expected to
have, a Material Adverse Effect.

          7.20 Tax Returns and Payments. The U.S. Borrower and each of its Subsidiaries has
timely filed (including applicable extensions), or has had filed on its behalf, with the
appropriate taxing authority, all material returns, statements, forms and reports for taxes (the
"Returns”) required to be filed by or with respect to the income, properties or operations
of the U.S. Borrower and each of its Subsidiaries. The Returns accurately reflect in all material
respects all liability for taxes of the U.S. Borrower and each of its Subsidiaries as a whole for
the periods covered thereby. The U.S. Borrower and each of its Subsidiaries have paid all material
taxes payable by them other than those contested in good faith and adequately disclosed and for
which adequate reserves have been established in accordance with U.S. GAAP. Except as set forth on
Schedule XVI hereto, there is no action, suit, proceeding, investigation, audit, or claim now
pending or, to the knowledge of any Senior Officer, threatened by any authority regarding any taxes
relating to the U.S. Borrower and each of its Subsidiaries. Except as set forth on Schedule XVI
hereto, neither the U.S. Borrower nor any of its Subsidiaries has entered into an agreement or
waiver or been requested to enter into an agreement or waiver extending any statute of limitations
relating to the payment or collection of taxes of the U.S. Borrower or any of its Subsidiaries, or
is aware of any circumstances that would cause the taxable years or other taxable periods of the
U.S. Borrower or any of its Subsidiaries not to be subject to the normally applicable statute of
limitations.

          7.21 Scheduled Existing Indebtedness. Schedule IV sets forth a true and complete list
of all Indebtedness of Holdings and its Subsidiaries as of the Restatement Effective Date and which
is to remain outstanding after giving effect to the Transaction and the incurrence of Loans and ABL
Loans on such date (exclusive of (i) Indebtedness pursuant to this Agreement and the other Credit
Documents, (ii) Indebtedness pursuant to the ABL Credit Agreement and the other ABL Credit
Documents, (iii) Indebtedness pursuant to the Existing Senior Notes Documents, (iv) intercompany
Indebtedness pursuant to the Intercompany Distribution Transactions, (v) Indebtedness of Holdings
and/or any of its Subsidiaries of the types described in clauses (viii), (xiii) and (xviii) of
Section 9.04(b), (vi) Synthetic Lease obligations arising under
the lease entered into in connection with the Sale-Leaseback Transaction, and (vii) immaterial
Contingent Obligations of Subsidiaries of the U.S. Borrower that represent guaranties of
obligations other than Indebtedness), in each case showing the aggregate principal amount thereof
(and the aggregate amount of any undrawn commitments with respect thereto) and the name of the
respective borrower and any other entity which directly or indirectly guarantees such debt. Part A
of Schedule IV lists all Indebtedness as described in the immediately preceding sentence which is
owed to Persons other than Holdings or any of its Subsidiaries (after giving effect to the
consummation of the Transaction) (with all such Indebtedness being herein called “Third Party
Scheduled Existing Indebtedness”) and Part B of Schedule IV lists all Indebtedness as described
in the immediately preceding sentence which is owed to Holdings and its Subsidiaries as of February
25, 2006 (with all of such Indebtedness being herein called “Intercompany Scheduled Existing
Indebtedness”).

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          7.22 Insurance. Set forth on Schedule VIII hereto is a true, correct and complete
summary of all insurance maintained by the U.S. Borrower and its Subsidiaries on and as of the
Restatement Effective Date, with the amounts insured (and any deductibles) set forth therein.

          7.23 Transaction. At the time of consummation thereof, each element of the Transaction
shall have been consummated in all material respects in accordance with the terms of the relevant
Documents therefor and all applicable laws. At the time of consummation thereof, all consents and
approvals of, and filings and registrations with, and all other actions in respect of, all
governmental agencies, authorities or instrumentalities required in order to make or consummate
each element of the Transaction in accordance with the terms of the relevant Documents therefor and
all applicable laws have been obtained, given, filed or taken and are or will be in full force and
effect (or effective judicial relief with respect thereto has been obtained). Additionally, there
does not exist any judgment, order or injunction prohibiting or imposing material adverse
conditions upon any element of the Transaction, the occurrence of any Credit Event, or the
performance by the U.S. Borrower or any of its Subsidiaries of their respective obligations under
the Documents and in accordance with all applicable laws.

          7.24 Special Purpose Corporations. The Bermuda Partnership has no significant assets
(other than Equity Interests of its Subsidiaries and the immaterial assets used for the performance
of those activities permitted to be performed by it pursuant to Sections 9.01(b) and (c)) or
liabilities (other than under this Agreement and the other Credit Documents to which it is a party
and those liabilities permitted to be incurred by it pursuant to Sections 9.01(b) and (c));
provided that notwithstanding the foregoing, the Bermuda Partnership shall be permitted to
(i) provide treasury, accounting, logistic and other administrative support services to its
Affiliates on an arm’s length basis and hold and retain cash earned in connection with the
provision of such services and (ii) receive and hold additional cash and Cash Equivalents from its
Subsidiaries and/or Affiliates, so long as, in the case of this clause (ii), same are promptly (and
in any event within one Business Day of receipt thereof) loaned, distributed and/or contributed,
subject to Section 9.01(c), to its Subsidiaries and/or Affiliates in accordance with the
requirements of Section 9.05 of this Agreement.

          7.25 Subordination. The subordination provisions contained in the Existing Senior
Notes Documents and, on and after the execution and delivery thereof, the Permitted Senior Notes
Documents and the Permitted Refinancing Senior Notes Documents are enforceable
against (i) the U.S. Subsidiary Guarantors party thereto, (ii) in the case of any Permitted
Senior Notes Document or Permitted Refinancing Senior Notes Document providing for subordination of
the U.S. Borrower’s obligations thereunder, the U.S. Borrower and (iii) the holders of the Existing
Senior Notes, the Permitted Senior Notes or the Permitted Refinancing Senior Notes, as the case may
be. All Guaranteed Obligations (as defined in the U.S. Subsidiaries Guaranty) of the U.S.
Subsidiary Guarantors and, in the case of any Permitted Senior Notes Document or Permitted
Refinancing Senior Notes Document providing for subordination of the U.S. Borrower’s obligations
thereunder, all Obligations of the Borrower under the Credit Documents to which it is a party, are
within the definitions of “Guarantor Senior Debt” and “Designated Guarantor Senior Debt” or “Senior
Debt” and “Designated Senior Debt”, as applicable, included in such subordination provisions.

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          Section 8. Affirmative Covenants.Each Credit Agreement Party hereby covenants and
agrees that as of the Restatement Effective Date and thereafter for so long as this Agreement is in
effect and until the Total Commitment and all Letters of Credit and Bank Guaranties have been
terminated, and the Loans, Notes and Unpaid Drawings and Unreimbursed Payments, together with
interest, Fees and all other Obligations (other than any indemnities described in Section 13.13
which are not then due and payable) incurred hereunder, are paid in full:

          8.01 Information Covenants. The U.S. Borrower will furnish, or will cause to be
furnished, to the Administrative Agent (who shall furnish to each Lender):

     (a) Quarterly Financial Statements. Within 3 Business Days following the 45th
day after the close of the first three quarterly accounting periods in each Fiscal Year of
the U.S. Borrower, (i) (x) the consolidated balance sheet of the U.S. Borrower and its
Consolidated Subsidiaries as at the end of such quarterly accounting period and the related
consolidated statements of income and of cash flows for such quarterly accounting period and
for the elapsed portion of the Fiscal Year ended with the last day of such quarterly
accounting period, in each case setting forth comparative figures for the corresponding
quarterly accounting period in the prior Fiscal Year and the budgeted figures for such
quarterly period as set forth in the respective financial projections theretofore delivered
pursuant to Section 8.01(c), (y) the consolidated balance sheet of each Business Segment as
at the end of such quarterly accounting period and the related consolidated statement of
income of such Business Segment for such quarterly accounting period and for the elapsed
portion of the Fiscal Year ended with the last day of such quarterly accounting period, in
each case setting forth comparative figures for the corresponding quarterly accounting
period in the prior Fiscal Year, and (z) the consolidated balance sheets of the U.S. Dole
Group and the Non-U.S. Dole Group as at the end of such quarterly accounting period and the
related consolidated statements of income of each such group for such quarterly accounting
period and for the elapsed portion of the Fiscal Year ended with the last day of such
quarterly accounting period, all of the foregoing of which shall be in reasonable detail
and, in the case of the financial statements described in subclause (x) above, be certified
by the senior financial officer or other Authorized Officer of the U.S. Borrower that they
fairly present in all material respects in accordance with U.S. GAAP the financial condition
of the U.S. Borrower and its Consolidated Subsidiaries as of the dates indicated and the
results of their operations and/or changes in their cash flows for the periods indicated,
subject to normal year-end audit adjustments and the absence of
footnotes and (ii) management’s discussion and analysis of the important operational
and financial developments during such quarterly accounting period; provided,
however, that for any quarterly accounting period for which the U.S. Borrower has
filed a Form 10-Q Report with the SEC, the furnishing of (I) the U.S. Borrower’s Form 10-Q
Report filed with the SEC for such quarterly accounting period and (II) the consolidated
balance sheet of each Business Segment as at the end of such quarterly accounting period and
the related consolidated statement of income of such Business Segment for such quarterly
accounting period, shall satisfy the requirements of subclause (i) and (ii) of this Section
8.01(a).

     (b) Annual Financial Statements. Within 3 Business Days following the 90th day
after the close of each Fiscal Year of the U.S. Borrower, (i) (x) the consolidated bal-

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ance
sheet of the U.S. Borrower and its Consolidated Subsidiaries as at the end of such Fiscal
Year and the related consolidated statements of income and stockholders’ equity and of cash
flows for such Fiscal Year and setting forth comparative consolidated figures for the
preceding Fiscal Year and comparable budgeted figures for such Fiscal Year as set forth in
the respective financial projections delivered pursuant to Section 8.01(c), (y) the
consolidated balance sheet of each Business Segment as at the end of such Fiscal Year and
the related consolidated statements of income of each Business Segment for such Fiscal Year
and setting forth comparative consolidated figures for the preceding Fiscal Year and (z) the
consolidated balance sheet of each of the U.S. Dole Group and the Non-U.S. Dole Group as at
the end of such Fiscal Year and the related consolidated statements of income of each such
group for such Fiscal Year and setting forth comparative consolidated figures for the
preceding Fiscal Year, (ii) in the case of the financial statements referred to in subclause
(i)(x) above (except for such comparable budgeted figures), together with a certification by
Deloitte & Touche LLP or such other independent certified public accountants of recognized
national standing as shall be acceptable to the Administrative Agent, in each case to the
effect that (I) such statements fairly present in all material respects the financial
condition of the U.S. Borrower and its Consolidated Subsidiaries as of the dates indicated
and the results of their operations and changes in financial position for the periods
indicated in conformity with U.S. GAAP applied on a basis consistent with prior years and
(II) in the course of its regular audit of the business of the U.S. Borrower and its
Consolidated Subsidiaries, which audit was conducted in accordance with U.S. GAAP (and made
without qualification or expression of uncertainty, in each case as to going concern;
provided, that in the case of the report provided in connection with the U.S.
Borrower’s fiscal year ended January 3, 2009, the opinion provided with such financial
statements may contain a going concern qualification or expression of uncertainty so long as
the U.S. Borrower delivers an unqualified opinion of Deloitte & Touche LLP with respect to
such fiscal year no later than May 15, 2009), no Default or Event of Default which has
occurred and is continuing has come to their attention or, if such a Default or an Event of
Default has come to their attention, a statement as to the nature thereof and (iii)
management’s discussion and analysis of the important operational and financial developments
during such Fiscal Year; provided, however, that for any Fiscal Year for
which the U.S. Borrower has filed a Form 10-K Report with the SEC, the furnishing of (I) the
U.S. Borrower’s Form 10-K Report filed with the SEC for such Fiscal Year and (II) the
consolidated balance sheet of each Business Segment as at the end of such Fiscal Year and
the related consolidated statement of income of such Business
Segment for such Fiscal Year, shall satisfy the requirements of subclause (i) and (iii)
of this Section 8.01(b).

     (c) Financial Projections, etc. Not more than 90 days after the commencement
of each Fiscal Year of the U.S. Borrower, financial projections in form reasonably
satisfactory to the Administrative Agent (including projected statements of income, sources
and uses of cash and balance sheets, taking into account any Significant Asset Sales
intended to be consummated during such Fiscal Year) prepared by the U.S. Borrower (i) for
each of the four Fiscal Quarters of such Fiscal Year prepared in detail and (ii) for each of
the immediately succeeding two Fiscal Years prepared in summary form, in each case, on a
consolidated basis, for the U.S. Borrower and its Consolidated Subsidi-

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aries and setting
forth, with appropriate discussion, the principal assumptions upon which such financial
projections are based.

     (d) Officer’s Certificates. At the time of the delivery of the financial
statements provided for in Sections 8.01(a) and (b) for each Fiscal Year ended on or after
the Restatement Effective Date, a certificate of the Chief Financial Officer or other
Authorized Officer of the U.S. Borrower to the effect that no Default or Event of Default
exists or, if any Default or Event of Default does exist, specifying the nature and extent
thereof, which certificate shall (i) if delivered in connection with the financial
statements required by Section 8.01(a) or (b), set forth in reasonable detail (x) the
calculations required to establish whether the U.S. Borrower and its Subsidiaries were in
compliance with the provisions of Sections 3.03(e) and (f), 4.02, 9.02, 9.04, 9.05 and 9.06
and (y) the calculation of the Senior Secured Leverage Ratio and the First Priority Secured
Leverage Ratio as at the last day of the respective Fiscal Quarter or Fiscal Year of the
U.S. Borrower, as the case may be, (ii) if delivered with the financial statements required
by Section 8.01(b), set forth in reasonable detail (x) the amount of (and the calculations
required to establish the amount of) Excess Cash Flow and Adjusted Excess Cash Flow for the
respective Excess Cash Flow Payment Period, (y) the amount required to be paid pursuant to
Section 4.02(f) on the relevant Excess Cash Payment Date and (z) the calculation of the
Total Leverage Ratio as at the last day of the respective Fiscal Year of the U.S. Borrower,
and (iii) certify that there have been no changes to Annexes A through G of the U.S.
Security Agreement, Annexes A through G of the U.S. Pledge Agreement and the annexes or
schedules to any other Security Document, in each case since the Restatement Effective Date
or, if later, since the date of the most recent certificate delivered pursuant to this
Section 8.01(d), or if there have been any such changes, a list in reasonable detail of such
changes (but, in each case with respect to this clause (iii), only to the extent that such
changes are required to be reported to the Collateral Agent pursuant to the terms of such
Security Documents) and whether the Credit Agreement Parties and the other Credit Parties
have otherwise taken all actions required to be taken by them pursuant to such Security
Documents in connection with any such changes.

     (e) Notice of Default or Litigation. Promptly, and in any event within five
Business Days after a Senior Officer obtains knowledge thereof, notice of (i) the occurrence
of any event which constitutes a Default or an Event of Default, which notice shall specify
the nature and period of existence thereof and what action the U.S. Borrower or such
Subsidiary proposes to take with respect thereto, (ii) any litigation or proceeding
pending or threatened (x) against the U.S. Borrower or any of its Subsidiaries which
has had, or could reasonably be expected to have, a Material Adverse Effect or (y) with
respect to any ABL Credit Document, any Existing Senior Notes Document or, on and after the
execution and delivery thereof, any Permitted Senior Notes Document or any Permitted
Refinancing Senior Notes Document, (iii) any Material Governmental Investigation pending or
threatened against the U.S. Borrower or any of its Subsidiaries and (iv) any other event,
change or circumstance which has had, or could reasonably be expected to have, a Material
Adverse Effect.

     (f) Management Letters. Promptly upon receipt thereof, a copy of any
“management letter” submitted to the U.S. Borrower or any of its Subsidiaries by its
indepen-

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dent accountants in connection with any annual, interim or special audit made by them
of the financial statements of the U.S. Borrower or any of its Subsidiaries and management’s
responses thereto.

     (g) Environmental Matters. Within five Business Days after a Senior Officer
obtains knowledge of any of the following (but only to the extent that any of the following,
either individually or in the aggregate, has had, or could reasonably be expected to have,
(a) a Material Adverse Effect or (b) a remedial cost to the U.S. Borrower or any of its
Subsidiaries in excess of $15,000,000), written notice of:

     (i) any pending or threatened Environmental Claim against the U.S. Borrower or
any of its Subsidiaries or any Real Property owned, leased or operated by the U.S.
Borrower or any of its Subsidiaries;

     (ii) any condition or occurrence on any Real Property owned, leased or operated
by the U.S. Borrower or any of its Subsidiaries that (x) results in noncompliance by
the U.S. Borrower or any of its Subsidiaries with any applicable Environmental Law
or (y) could reasonably be anticipated to form the basis of an Environmental Claim
against the U.S. Borrower or any of its Subsidiaries or any such Real Property;

     (iii) any condition or occurrence on any Real Property owned, leased or
operated by the U.S. Borrower or any of its Subsidiaries that could reasonably be
anticipated to cause such Real Property to be subject to any restrictions on the
ownership, lease, occupancy, use or transferability by the U.S. Borrower or such
Subsidiary, as the case may be, of its interest in such Real Property under any
Environmental Law; and

     (iv) the taking of any removal or remedial action in response to the actual or
alleged presence of any Hazardous Material on any Real Property owned, leased or
operated by the U.S. Borrower or any of its Subsidiaries.

All such notices shall describe in reasonable detail the nature of the claim, investigation,
condition, occurrence or removal or remedial action and the U.S. Borrower’s response or
proposed response thereto. In addition, the U.S. Borrower agrees to provide the Lenders (by
delivery to the Administrative Agent) with copies of such detailed reports relating to
any of the matters set forth in clauses (i)-(iv) above as may reasonably be requested by the
Administrative Agent or any Lender.

     (h) Reports. Within 3 Business Days following transmission thereof, copies of
any filings and registrations with, and reports to, the SEC by the U.S. Borrower or any of
its Subsidiaries and copies of all financial statements, proxy statements, notices and
reports as the U.S. Borrower or any of its Subsidiaries shall send generally to the holders
of Indebtedness or (following the public issuance of Equity Interests of the U.S. Borrower
or any of its Subsidiaries) their Equity Interests in their capacity as such holders (to the
extent not theretofore delivered to the Lenders pursuant to this Agreement).

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     (i) New Subsidiaries; etc. Within 3 Business Days after the 45th day following
the close of each of the first three Fiscal Quarters of each Fiscal Year of the U.S.
Borrower and within 3 Business Days after the 45th day following the close of each Fiscal
Year of the U.S. Borrower, (w) a list showing each Material Foreign Subsidiary of the U.S.
Borrower which has not theretofore become party to the Foreign Subsidiaries Guaranty or any
Security Document, (x) a list showing each Subsidiary of the U.S. Borrower established,
created or acquired during the respective Fiscal Quarter or Fiscal Year (and specifying
whether such Subsidiary is a Material Foreign Subsidiary), and each Subsidiary which has had
any Equity Interests transferred during the respective Fiscal Quarter or Fiscal Year (in
each case describing in reasonable detail the respective transfer of Equity Interests), in
each case naming the direct owner of all Equity Interests in such Subsidiary and describing
such Equity Interests in reasonable detail, and certifying that each such Subsidiary, and
each Credit Party which owns any Equity Interests therein, has taken all actions, if any,
required pursuant to Sections 8.11 and 9.11 and the relevant Security Documents and
certifying the U.S. Borrower’s compliance with the provisions of Section 8.18, (y) a list of
each Domestic Subsidiary of the U.S. Borrower, if any, which has not been transferred to the
U.S. Borrower or one or more Qualified U.S. Obligors pursuant to the requirements of Section
8.18(a) (by virtue of the first proviso to the second sentence of said Section 8.18(a)), and
specifically stating the reasons therefor and (z) a list of each Foreign Subsidiary
organized under any Qualified Non-U.S. Jurisdiction, if any, which has not been transferred
to one or more Qualified Non-U.S. Obligors pursuant to the requirements of Section 8.18(b)
(by reason of the first proviso to the first sentence of said Section 8.18(b)), and
specifically stating the reasons therefor.

     (j) Annual Meetings with Lenders. At the request of the Administrative Agent,
the U.S. Borrower shall, within 120 days after the close of each Fiscal Year of the U.S.
Borrower, hold a meeting (which may be by conference call or teleconference), at a time and
place selected by the U.S. Borrower and reasonably acceptable to the Administrative Agent,
with all of the Lenders that choose to participate, to review the financial results of the
previous Fiscal Year and the financial condition of the U.S. Borrower and its Subsidiaries
and the budgets presented for the current Fiscal Year of the U.S. Borrower and its
Subsidiaries.

     (k) Notice of Commitment Reductions and Mandatory Repayments. On or prior to
the date of any reduction to Commitments or any mandatory repayment of outstanding Term
Loans pursuant to Sections 4.02(c) through (f), inclusive, the U.S. Borrower shall provide written notice of the amount of the respective reduction or
repayment, as the case may be, to the Commitments or the outstanding Term Loans, as
applicable, and the calculations therefor (in reasonable detail).

     (l) Hedging Agreements. At the time of the delivery of the financial
statements provided for in Section 8.01(b), a schedule of all Interest Rate Protection
Agreements and Other Hedging Agreements entered into by the U.S. Borrower or any of its
Subsidiaries with any Lender and/or any of its affiliates.

     (m) Other Information. From time to time, such other information or documents
(financial or otherwise) with respect to the U.S. Borrower or its Subsidiaries as the

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Administrative Agent or any Lender may reasonably request; provided that the tax
opinion delivered by Deloitte & Touche LLP referenced in Section 8.01(n) of the Original
Credit Agreement shall only be made available for review by any Lender requesting same at
the headquarters of the U.S. Borrower.

     (n) Compliance with Section 13.27. On or prior to the 90th day after the
Restatement Effective Date (or such later date as the Administrative Agent shall determine),
an appropriate officer in the legal department of the U.S. Borrower shall provide a written
certification of compliance with all post-closing requirements set forth in Section 13.27
(including those actions required pursuant to Schedule XVIII), specifically listing any
items where such compliance has not yet occurred (and, with respect to any such items where
compliance has not yet occurred, stating the time frame in which it is expected that such
actions shall be taken and the reasons such actions have not been completed). Without
excusing any failure to comply with Section 13.27, if the certification provided above does
not establish complete compliance with all requirements of Section 13.27 (and Schedule
XVIII), the U.S. Borrower shall cause an appropriate officer in its legal department to
furnish monthly updates thereafter, in each case showing in reasonable detail all
compliances (and any non-compliances) with the requirements of Section 13.27. Such
certifications shall no longer be required after the date upon which the U.S. Borrower
certifies that all actions required be taken pursuant to Section 13.27 (and Schedule XVIII)
have been completed.

          8.02 Books, Records and Inspections. Each Credit Agreement Party will, and will cause
each of its Subsidiaries to, keep proper books of record and accounts in which full, true and
correct entries which permit the preparation of financial statements in accordance with U.S. GAAP
and which conform to all requirements of law, shall be made of all dealings and transactions in
relation to its business and activities. Each Credit Agreement Party will, and will cause each of
its Subsidiaries to, permit officers and designated representatives of any Agent or, if any
Specified Default or any Event of Default then exists, any Lender, to visit and inspect, under
guidance of officers of such Credit Agreement Party or such Subsidiary, any of the properties of
such Credit Agreement Party or such Subsidiary, and to examine the books of account of such Credit
Agreement Party or such Subsidiary and discuss the affairs, finances and accounts of such Credit
Agreement Party or such Subsidiary with, and be advised as to the same by, its and their officers
and independent accountants, all upon reasonable prior notice and at such reasonable times and
intervals and to such reasonable extent as such Agent or such Lender may reasonably request.

          8.03 Insurance. (a) Each Credit Agreement Party will, and will cause each of its
Subsidiaries to, (i) maintain, with financially sound and reputable insurance companies, insurance
on all its property in at least such amounts and against at least such risks as is consistent and
in accordance with industry practice and (ii) furnish to the Administrative Agent, upon request by
the Administrative Agent or any Lender, full information as to the insurance carried. Such
insurance shall in any event include physical damage insurance on all real and personal property
(whether now owned or hereafter acquired) on an all risk basis and business interruption insurance.

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          (b) Each Credit Agreement Party will, and will cause each of its Subsidiaries to, at all times
keep the respective property of such Credit Agreement Party and its Subsidiaries insured in favor
of the Collateral Agent, and all policies or certificates with respect to such insurance (and any
other insurance maintained by, or on behalf of, any Credit Agreement Party or any of its
Subsidiaries) (i) shall be endorsed to the Collateral Agent’s satisfaction for the benefit of the
Collateral Agent (including, without limitation, by naming the Collateral Agent as certificate
holder, mortgagee and loss payee with respect to real property, certificate holder and loss payee
with respect to personal property, additional insured with respect to general liability and
umbrella liability coverage and certificate holder with respect to workers’ compensation
insurance), (ii) shall state that such insurance policies shall not be canceled or materially
changed without at least 30 days’ prior written notice thereof by the respective insurer to the
Collateral Agent and (iii) shall be deposited with the Collateral Agent.

          (c) If any Credit Agreement Party or any of its Subsidiaries shall fail to maintain all
insurance in accordance with this Section 8.03, or if any Credit Agreement Party or any of its
Subsidiaries shall fail to so name the Collateral Agent as an additional insured, mortgagee or loss
payee, as the case may be, or so deposit all certificates with respect thereto, the Administrative
Agent and/or the Collateral Agent shall have the right (but shall be under no obligation), upon ten
Business Days’ notice to the U.S. Borrower, to procure such insurance, and the Credit Agreement
Parties agree jointly and severally to reimburse the Administrative Agent or the Collateral Agent,
as the case may be, for all costs and expenses of procuring such insurance.

          8.04 Payment of Taxes. Each Credit Agreement Party will pay and discharge, and will
cause each of its Subsidiaries to pay and discharge, all taxes, assessments and governmental
charges or levies imposed upon it or upon its income or profits, or upon any properties belonging
to it, in each case on a timely basis, and all lawful claims which, if unpaid, might become a lien
or charge upon any properties of the Credit Agreement Parties or any of their Subsidiaries not
otherwise permitted under Section 9.03(i); provided that no Credit Agreement Party or any
of its Subsidiaries shall be required to pay any such tax, assessment, charge, levy or claim which
is being contested in good faith and by proper proceedings if it has maintained adequate reserves
with respect thereto in accordance with U.S. GAAP.

          8.05 Existence; Franchises. Each Credit Agreement Party will do, and will cause each
of its Subsidiaries to do, or cause to be done, all things necessary to preserve and keep in full
force and effect its existence and its material rights, franchises, authorities to do business,
licenses, certifications, accreditations and patents; provided, however, that
nothing in this Section 8.05 shall prevent (i) sales of assets and other transactions by the U.S.
Borrower or any of its Subsidiaries in accordance with Section 9.02, (ii) the withdrawal by the
U.S. Borrower
or any of its Subsidiaries of its qualification as a foreign corporation, partnership or
limited liability company, as the case may be, in any jurisdiction where such withdrawal could not,
either individually or in the aggregate, reasonably be expected to have a Material Adverse Effect
or (iii) the dissolution of the Excluded Domestic Subsidiary or any Excluded Foreign Subsidiary.

          8.06 Compliance with Statutes; etc. (a) Each Credit Agreement Party will, and will
cause each of its Subsidiaries to, comply with all applicable statutes, regulations and orders of,
and all applicable restrictions imposed by, all governmental bodies, domestic or foreign, in
respect of the conduct of its business and the ownership of its property, except for such
noncom-

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pliances as, individually or in the aggregate, have not had, and could not reasonably be
expected to have, individually or in the aggregate, a Material Adverse Effect.

          (b) Within 5 Business Days after each Credit Agreement Party is required by applicable law,
statute, rule or regulation, such Credit Agreement Party shall file (or cause to be filed) with the
SEC all reports, financial information and certifications required by applicable law, statute, rule
or regulation.

          8.07 Compliance with Environmental Laws. (a) (i) Each Credit Agreement Party will
comply, and will cause each of its Subsidiaries to comply, in all material respects with all
Environmental Laws applicable to the ownership or use of its Real Property and vessels now or
hereafter owned, leased or operated by such Credit Agreement Party or any of its Subsidiaries, will
promptly pay or cause to be paid all costs and expenses incurred in connection with such
compliance, and will keep or cause to be kept all such Real Property and vessels free and clear of
any Liens imposed pursuant to such Environmental Laws and (ii) neither any Credit Agreement Party
nor any of its Subsidiaries will generate, use, treat, store, Release or dispose of, or permit the
generation, use, treatment, storage, Release or disposal of, Hazardous Materials on any Real
Property or vessels owned, leased or operated by such Credit Agreement Party or any of its
Subsidiaries, or transport or permit the transportation of Hazardous Materials to or from any such
Real Property, except as required in the ordinary course of business of the U.S. Borrower and its
Subsidiaries as conducted on the Original Effective Date and as allowed by (and in compliance with)
applicable law or regulation and except for any failures to comply with the requirements specified
in clause (i) or (ii) above, which, either individually or in the aggregate, have not had, and
could not reasonably be expected to have, a Material Adverse Effect. If the U.S. Borrower or any
of its Subsidiaries, or any tenant or occupant of any Real Property or vessel owned, leased or
operated by the U.S. Borrower or any of its Subsidiaries, causes or permits any intentional or
unintentional act or omission resulting in the presence or Release of any Hazardous Material
(except in compliance with applicable Environmental Laws), each Credit Agreement Party agrees to
undertake, and/or to cause any of its Subsidiaries, tenants or occupants to undertake, at their
sole expense, any clean up, removal, remedial or other action required pursuant to Environmental
Laws to remove and clean up any Hazardous Materials from any Real Property or vessel except where
the failure to do so has not had, and could not reasonably be expected to have, a Material Adverse
Effect.

          At the written request of the Administrative Agent or the Required Lenders, which request
shall specify in reasonable detail the basis therefor (which may not simply be a desire for
periodic review), at any time and from time to time, the Credit Agreement Parties will provide, at
their sole cost and expense, an environmental site assessment report concerning any
Real Property now or hereafter owned, leased or operated by the U.S. Borrower or any of its
Subsidiaries, prepared by an environmental consulting firm reasonably approved by the
Administrative Agent, addressing the matters which gave rise to such request and estimating the
potential costs of any removal, remedial or other corrective action in connection with any such
matter. If a Credit Agreement Party fails to provide the same within 45 days after such request
was made, the Administrative Agent may order the same, and the Credit Agreement Parties shall grant
and hereby do grant, to the Administrative Agent and the Lenders and their agents, access to such
Real Property and specifically grant the Administrative Agent and the Lenders and their

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agents an
irrevocable non-exclusive license, subject to the right of tenants, to undertake such an
assessment, all at the Credit Agreement Parties’ joint and several expense.

          8.08 ERISA. As soon as possible and, in any event, within twenty (20) Business Days
after the U.S. Borrower, any Subsidiary of the U.S. Borrower or any ERISA Affiliate knows or has
reason to know of the occurrence of any of the following, the U.S. Borrower will deliver to the
Administrative Agent written notice of the chief financial officer, vice president of human
resources or other Authorized Officer of the U.S. Borrower setting forth, to the extent known, and
in reasonable detail, such occurrence and the action, if any, that the U.S. Borrower, such
Subsidiary or such ERISA Affiliate is required or proposes to take, together with any notices
required or proposed to be given to or filed by the U.S. Borrower, such Subsidiary, the Plan
administrator or such ERISA Affiliate to or with, the PBGC or any other governmental agency, or a
Plan or Multiemployer Plan participant, and any notices received by the U.S. Borrower, such
Subsidiary or ERISA Affiliate from the PBGC or other governmental agency or a Plan or Multiemployer
Plan participant or the Plan administrator with respect thereto: that a Reportable Event has
occurred (except to the extent that the U.S. Borrower has previously delivered to the
Administrative Agent a notice (if any) concerning such event pursuant to the next clause hereof);
that a contributing sponsor (as defined in Section 4001(a)(13) of ERISA) of a Plan subject to Title
IV of ERISA is subject to the advance reporting requirement of PBGC Regulation Section 4043.61
(without regard to subparagraph (b)(1) thereof), and an event described in subsection .62, .63,
        .64, .65, .66, .67 or .68 of PBGC Regulation Section 4043 is reasonably expected to occur with
respect to such Plan within the following 30 days; that an accumulated funding deficiency, within
the meaning of Section 412 of the Code or Section 302 of ERISA, has been incurred or an application
may be or has been made for a waiver or modification of the minimum funding standard (including any
required installment payments) or an extension of any amortization period under Section 412 of the
Code or Section 303 or 304 of ERISA with respect to a Plan; that any contribution required to be
made with respect to a Plan or Multiemployer Plan or Foreign Pension Plan has been made more than
sixty (60) days late; that a Plan or Multiemployer Plan has been or may be involuntarily
terminated, reorganized, partitioned or declared insolvent under Title IV of ERISA; that a Plan or
Multiemployer Plan has a material Unfunded Current Liability; that involuntary proceedings may be
or have been instituted to terminate or appoint a trustee to administer a Plan which is subject to
Title IV of ERISA; that an involuntary proceeding has been instituted pursuant to Section 515 of
ERISA to collect a delinquent contribution to a Plan or Multiemployer Plan; that the U.S. Borrower,
any Subsidiary of the U.S. Borrower or any ERISA Affiliate will or may incur any material liability
(including any indirect, contingent, or secondary liability) to or on account of the termination of
or withdrawal from a Plan or Multiemployer Plan under Section 4062, 4063, 4064, 4069, 4201, 4204 or
4212 of ERISA or with respect to a Plan or Multiemployer Plan under Section 401(a)(29), 4971, 4975
or 4980 of the Code or Section 409 or 502(i) or 502(l) of ERISA or with respect to a group health
plan (as defined in
Section 607(1) of ERISA or Section 4980B(g)(2) of the Code) under Section 4980B of the Code;
or that the U.S. Borrower or any Subsidiary of the U.S. Borrower may incur any liability pursuant
to any employee welfare benefit plan (as defined in Section 3(1) of ERISA) that provides benefits
to retired employees or other former employees (
other than as required by Section 601 of ERISA) or
any Plan or any Foreign Pension Plan in addition to the liability that existed on the Restatement
Effective Date pursuant to any such plan or plans by an amount that would be material to the U.S.
Borrower or any Subsidiary of the U.S. Borrower. To the extent that the financial statements set
forth with particularity a liability for which notice would otherwise be re-

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quired to be given
hereunder, a separate notice thereof shall not be required hereunder. At the request of the
Administrative Agent, the U.S. Borrower will deliver to the Administrative Agent copies of any
records, documents or other information that must be furnished to the PBGC with respect to any Plan
pursuant to Section 4010 of ERISA. The U.S. Borrower will also deliver upon written request to the
Administrative Agent a complete copy of the annual report (on Internal Revenue Service Form
5500-series) of each Plan (including, to the extent required, the related financial and actuarial
statements and opinions and other supporting statements, certifications, schedules and information)
required to be filed with the Internal Revenue Service. In addition to any notices delivered to
the Administrative Agent pursuant to the first sentence hereof, copies of annual reports and any
records, documents or other information required to be furnished to the PBGC or any other
government agency, and any material notices received by the U.S. Borrower, any Subsidiary of the
U.S. Borrower or any ERISA Affiliate with respect to any Plan or Foreign Pension Plan or received
from any government agency or plan administrator or sponsor or trustee with respect to any
Multiemployer Plan, shall, upon request of the Administrative Agent, be delivered to the
Administrative Agent no later than twenty (20) Business Days after the date of such request. The
U.S. Borrower and each of its applicable Subsidiaries shall ensure that all Foreign Pension Plans
administered by it or into which it makes payments obtain or retain (as applicable) registered
status under and as required by applicable law and is administered in a timely manner in all
respects in compliance with all applicable laws except where the failure to do any of the foregoing
has not had, and could not reasonably be expected to have, a Material Adverse Effect.

          8.09 Good Repair. Each Credit Agreement Party will, and will cause each of its
Subsidiaries to, ensure that its material properties and equipment required to be used in its
business are kept in reasonably good repair, working order and condition, ordinary wear and tear
excepted, and that from time to time there are made in such properties and equipment all needful
and proper repairs, renewals, replacements, extensions, additions, betterments and improvements
thereto, to the extent and in the manner useful or customary for companies in similar businesses.

          8.10 End of Fiscal Years; Fiscal Quarters. Each Credit Agreement Party will cause (i)
each of its, and each of its Subsidiaries’, fiscal years to end on the Saturday closest to December
31 of each calendar year and (ii) each of its, and each of its Subsidiaries’, fiscal quarters to
end on the last day of each period described in the definition of “Fiscal Quarter”;
provided that Foreign Subsidiaries of the U.S. Borrower (other than the Bermuda Borrower
and the Bermuda Partnership) shall not be required to maintain the fiscal year and fiscal quarter
ends described above if it is not practicable for such Foreign Subsidiary to maintain same as a
result of foreign statutes, rules or law applicable to such Foreign Subsidiary.

          8.11 Additional Security; Additional Guaranties; Actions with Respect to Non-Guarantor
Subsidiaries; Further Assurances. (a) Each Credit Agreement Party will, and will
cause its Subsidiaries which are Credit Agreement Parties or Subsidiary Guarantors to, grant
to the Collateral Agent security interests and mortgages (each, an “Additional Mortgage”)
in: (i) each vessel acquired by such Person after the Initial Borrowing Date and having a value
(for such purpose, using the initial purchase price paid by such Person for such vessel) in excess
of $5,000,000, (ii) such fee-owned (or the equivalent) Real Property acquired by such Person after
the Initial Borrowing Date and having a value (for such purpose, using the initial purchase price
paid by such Person for such Real Property) in excess of $10,000,000 which is not covered by

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the
original Mortgages or Foreign Security Agreements, as appropriate and (iii) such Leasehold
Properties to which a respective landlord has granted its consent to the delivery of a Mortgage
over such Leasehold Properties (each such Real Property referred to in preceding clause (ii) and
this clause (iii), an “Additional Mortgaged Property”); provided, however
that if the aggregate value of all Second-Tier Material Real Properties (for such purpose, using
the initial purchase price paid by such Person for the respective Second-Tier Material Real
Property) acquired by such Persons after the Initial Borrowing Date which are not then covered by
Mortgages or Foreign Security Agreements, as appropriate, equals or exceeds $20,000,000, each
Credit Agreement Party and each Subsidiary Guarantor shall grant to the Collateral Agent security
interests and mortgages in all such Second-Tier Material Real Properties owned by any such Person
which are not then covered by Mortgages or Foreign Security Agreements, as appropriate (and not
just those required to reduce the aggregate value of all Second-Tier Material Real Properties
(determined as provided above) at such time below $20,000,000). All such Additional Mortgages
shall be granted pursuant to documentation substantially in the form of a relevant existing
Mortgage (or, in the case of Additional Mortgaged Properties located in a jurisdiction outside the
United States, the relevant Foreign Security Agreement covering Real Property located in such
jurisdiction (if any) delivered to the Administrative Agent on the Initial Borrowing Date) or in
such other form as is reasonably satisfactory to the Administrative Agent. All such Additional
Mortgages shall constitute valid and enforceable first priority perfected Liens, superior to and
prior to the rights of all third Persons and subject to no other Liens (except as are permitted by
Section 9.03), in favor of the Collateral Agent (or such other trustee or sub-agent as may be
required or desired under local law). The Additional Mortgages or instruments related thereto
shall be duly recorded or filed in such manner and in such places as are required by law to create,
maintain, effect, perfect, preserve, maintain and protect the Liens in favor of the Collateral
Agent required to be granted pursuant to the Additional Mortgages and all taxes, fees and other
charges payable in connection therewith shall be paid in full. Notwithstanding any “after-acquired
property” covenant contained in any Foreign Security Document requiring the grant of a mortgage in
“after-acquired” Real Property of any Foreign Credit Party in favor of the Collateral Agent, no
Foreign Credit Party shall be required to grant to the Collateral Agent an Additional Mortgage in
any Real Property of such Foreign Credit Party acquired after the Initial Borrowing Date as
otherwise required by the respective Foreign Security Document unless and until the grant of such
Additional Mortgage would otherwise be required pursuant to the terms of this Section 8.11(a).

          (b) Each Credit Agreement Party will, and will cause each of its Subsidiaries to, at its own
expense, make, execute, endorse, acknowledge, file and/or deliver to the Collateral Agent from time
to time such vouchers, invoices, schedules, confirmatory assignments, confirmatory conveyances,
financing statements, transfer endorsements, confirmatory powers of attorney, certificates, reports
and other assurances or confirmatory instruments and take such further steps relating to the
Collateral covered by any of the Security Documents as the Collateral Agent may reasonably require
pursuant to this Section 8.11. Furthermore, each Credit Agreement Party
will cause to be delivered to the Collateral Agent such opinions of counsel and other related
documents as may be reasonably requested by the Collateral Agent to assure itself that this Section
8.11 has been complied with.

          (c) Subject to the provisions of following clauses (g) and (h), if (w) at any time any
Domestic Subsidiary of the U.S. Borrower is created, established or acquired, such Subsidiary shall
be required to execute and deliver counterparts of the U.S. Subsidiaries Guaran-

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ty, the Intercompany
Subordination Agreement, the Intercreditor Agreement and such Security Documents as would have been
entered into by the respective Subsidiary if same had been a U.S. Subsidiary Guarantor under the
Original Credit Agreement on the Initial Borrowing Date (with appropriate changes to reflect the
amendment and restatement of this Agreement on the Restatement Effective Date and any subsequent
modification hereto), and in each case shall take all action in connection therewith as would
otherwise have been required to be taken pursuant to Section 5 of the Original Credit Agreement if
such Subsidiary had been a U.S. Subsidiary Guarantor under the Original Credit Agreement on the
Initial Borrowing Date, (x) at any time any Subsidiary of the U.S. Borrower organized under the
laws of any Qualified Non-U.S. Jurisdiction is created, established or acquired, such Subsidiary
shall be required to execute and deliver counterparts of the Foreign Subsidiaries Guaranty, the
Intercompany Subordination Agreement and such Security Documents as would have been entered into by
the respective Subsidiary if same had been a Foreign Subsidiary Guarantor under the Original Credit
Agreement on the Initial Borrowing Date (with appropriate changes to reflect the amendment and
restatement of this Agreement on the Restatement Effective Date and any subsequent modification
hereto) (determined in accordance with the criteria described in Sections 5.15, 5.17 and 5.18(b) of
the Original Credit Agreement), and in each case shall take all action in connection therewith as
would otherwise have been required to be taken pursuant to Section 5 of the Original Credit
Agreement if such Subsidiary had been a Foreign Subsidiary Guarantor under the Original Credit
Agreement on the Initial Borrowing Date (with appropriate changes to reflect the amendment and
restatement of this Agreement on the Restatement Effective Date and any subsequent modification
hereto), (y) at any time any Subsidiary of the U.S. Borrower organized under the laws of any
Non-Qualified Jurisdiction in which a Foreign Subsidiary Guarantor under the Original Credit
Agreement was organized on the Initial Borrowing Date is created, established or acquired, such
Subsidiary shall be required to execute and deliver counterparts of the Foreign Subsidiaries
Guaranty and, in each case, unless the Administrative Agent otherwise agrees based on advice of
local counsel, the Intercompany Subordination Agreement and such Security Documents as would have
been entered into by the respective Subsidiary if same had been a Foreign Subsidiary Guarantor
under the Original Credit Agreement organized under the laws of such Non-Qualified Jurisdiction on
the Initial Borrowing Date (with appropriate changes to reflect the amendment and restatement of
this Agreement on the Restatement Effective Date and any subsequent modification hereto)
(determined in accordance with the criteria described in Sections 5.15, 5.17 and 5.18(b) of the
Original Credit Agreement), and in each case shall take all action in connection therewith as would
otherwise have been required to be taken pursuant to Section 5 of the Original Credit Agreement if
such Subsidiary had been a Foreign Subsidiary Guarantor under the Original Credit Agreement
organized under the laws of such Non-Qualified Jurisdiction on the Initial Borrowing Date (with
appropriate changes to reflect the amendment and restatement of this Agreement on the Restatement
Effective Date and any subsequent modification hereto) and (z) if at any time after the Initial
Borrowing Date any jurisdiction is added to the list of Qualified Jurisdictions in accordance with
the definition thereof contained herein, then at the time of such designation each
Foreign Subsidiary of the U.S. Borrower organized under the laws of such Qualified
Jurisdiction (with such exceptions as may be satisfactory to the Administrative Ag
ent or the
Required Lenders) shall be required to become a Foreign Subsidiary Guarantor and take all actions
specified in preceding clause (x). Furthermore, subject to the provisions of Section 8.11(h), the
Administrative Agent or the Required Lenders may at any time request that one or more Subsidiaries
of the U.S. Borrower organized under the laws of one or more jurisdictions which are not Qualified
Jurisdic-

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tions become Foreign Subsidiary Guarantors, in which case the Credit Agreement Parties
shall cause each such Subsidiary which has been specifically requested to become a Foreign
Subsidiary Guarantor to take all actions as are specified in clause (x) of the immediately
preceding sentence, provided that no Subsidiary of the U.S. Borrower shall be required to
take such actions if, and to the extent that, based upon written advice of local counsel reasonably
satisfactory to the Administrative Agent, the U.S. Borrower and/or such Subsidiary concludes that
the taking of such actions would violate the laws of the jurisdiction in which the respective
Subsidiary is organized, provided, further, that if steps (such as limiting the
amount guaranteed) can be taken so that such violation would not exist, then if requested by the
Administrative Agent or the Required Lenders, the respective Subsidiary shall enter into a modified
Foreign Subsidiaries Guaranty which provides, to the maximum extent permissible under applicable
law, as many of the benefits as are provided pursuant to the Foreign Subsidiaries Guaranty executed
and delivered on the Initial Borrowing Date as is possible.

          (d) In addition to the requirements contained in the Pledge Agreements, each Credit Agreement
Party agrees to pledge and deliver, or cause to be pledged and delivered, all of the Equity
Interests owned by any Credit Party of each new Unrestricted Subsidiary of the U.S. Borrower
established or created (and each Subsidiary of the U.S. Borrower which becomes an Unrestricted
Subsidiary) after the Initial Borrowing Date to the Collateral Agent for the benefit of the Secured
Creditors pursuant to the Pledge Agreements, provided that, subject to the provisions of
Section 8.12, in the case of any Foreign Unrestricted Subsidiary that is a corporation (or treated
as such for U.S. tax purposes) which is owned by a U.S. Credit Party, not more than 65% of the
total outstanding voting Equity Interests of such Person shall be required to be pledged in support
of such U.S. Credit Party’s obligations (x) as a Borrower under the Credit Agreement (in the case
of the U.S. Borrower) or (y) under its Guaranty in respect of the Obligations of the U.S. Borrower
(in the case of the other U.S. Credit Parties).

          (e) Following any request by the Administrative Agent or the Required Lenders, the U.S.
Borrower or any of its Subsidiaries, shall, to the maximum extent permitted by applicable law (but
subject to the proviso to preceding Section 8.11(d), to the extent applicable), (x) grant security
interests in such of their Property (other than Excluded Collateral) as may be requested by the
Administrative Agent or the Required Lenders, as the case may be, in which perfected security
interests do not already exist pursuant to the Security Documents theretofore executed and
delivered and, in connection therewith, the Credit Agreement Parties shall, or shall cause the
relevant Subsidiaries of the U.S. Borrower to, execute and deliver counterparts of (and thereby
become parties to) the Intercreditor Agreement (in the case of any U.S. Credit Party), the
applicable Security Documents and/or Additional Security Documents, in each case in form and
substance reasonably satisfactory to the Administrative Agent, (y) with respect to pledges of
Equity Interests of, or promissory notes issued by, Persons described in Section 13.19(a), take
such action (including, without limitation, the execution of Additional Security Documents, the
making of filings, etc.) under the local law of the Person whose Equity Interests or
promissory notes
are pledged as may be requested in order to create, preserve, protect or perfect security
interests in such Equity Interests and/or promissory notes and/or (z) with respect to each Foreign
Security Document described in Section 13.19(b), take such action (including, without limitation,
amending, modifying or supplementing such Foreign Security Document, etc.) under the local
law of each Credit Party party to such Foreign Security Document as may be requested to effect the
amendments, modifications and supplements contemplated in Section 13.19(b).

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          (f) The security interests required to be granted pursuant to Sections 8.11(c), (d) and (e)
shall be granted pursuant to the respective Security Documents already executed and delivered by
the Credit Parties (or other security documentation substantially similar to such Security
Documents or otherwise reasonably satisfactory in form and substance to the Collateral Agent) and
shall constitute valid and enforceable first priority perfected security interests (subject to the
applicable provisions of the Intercreditor Agreement in the case of security interests granted by
any U.S. Credit Party) prior to the rights of all third Persons and subject to no other Liens
(other than Permitted Liens). The Credit Agreement Parties shall (or shall cause their respective
Subsidiaries), (i) at their own expense, to (x) execute, acknowledge and deliver, or cause the
execution, acknowledgment and delivery of, and thereafter register, file or record in any
appropriate governmental office, any document or instrument reasonably deemed by the Collateral
Agent to be necessary or desirable for the creation, perfection, maintenance, preservation and
protection of the Liens on its assets intended to be created pursuant to the relevant Security
Documents and (y) take all other actions reasonably requested by the Collateral Agent (including,
without limitation, the furnishing of legal opinions) in connection with the granting of the
security interests required pursuant to Sections 8.11(c), (d) and (e) and (ii) pay in full all
taxes, fees and other charges payable in connection with the granting of the security interests
required pursuant to Sections 8.11(c), (d) and (e).

          (g) Each Credit Agreement Party agrees that each action required above by Section 8.11(a) or
(b) shall be completed as soon as possible, but in no event later than 90 days (or, in the case of
actions relating to assets located outside the United States, such greater number of days as the
Administrative Agent shall agree to in its sole and absolute discretion in any given case) after
such action is requested to be taken by the Administrative Agent or the Required Lenders. Each
Credit Agreement Party further agrees that (x) each action required above by Section 8.11(c), (d)
and (f) with respect to a newly formed, created or acquired Subsidiary, or with respect to any
Subsidiary which is located in a jurisdiction newly-designated as a Qualified Jurisdiction or which
becomes an Unrestricted Subsidiary, shall be completed contemporaneously with the formation,
creation or acquisition of such Subsidiary, the date of the addition of the respective jurisdiction
to the list of Qualified Jurisdictions or the date such Subsidiary becomes an Unrestricted
Subsidiary, as the case may be, (provided that (x) the Credit Documents required to be
executed and delivered pursuant to Section 8.11(c) by such newly formed, created or acquired
Subsidiary shall not be required to be so executed and delivered until 45 days after the formation,
creation or acquisition of such Subsidiary, (y) in the case of a Shell Corporation formed, created
or established by the U.S. Borrower or any of its Subsidiaries, such actions shall not be required
to be taken (so long as same remains a Shell Corporation) until 60 days after the formation,
creation or establishment of such Shell Corporation and (z) in the case of a newly-formed
Subsidiary organized in (i) a Qualified Non-U.S. Jurisdiction or (ii) a Non-Qualified Jurisdiction
in which an existing Foreign Subsidiary Guarantor is organized, to defer the execution and delivery
of Security Documents (but not counterparts of the Foreign Subsidiaries Guaranty or the Intercompany
Subordination Agreement) if the gross book value of its assets (determined as of the last
day of the calendar month then last ended) is less than $10,000,000, until (and only until)
the aggregate gross book value of all newly-formed Subsidiaries which have not executed Security
Documents in reliance on this proviso (determined as of the last day of the calendar month then
last ended) exceeds $20,000,000, at which time all such excluded Subsidiaries (and not just those
Subsidiaries required to reduce the aggregate gross book value of such excluded Subsidiaries to
below $20,000,000) shall execute the required Security Documents) and (y) all actions required

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to
be taken pursuant to the last sentence of Section 8.11(c) and Section 8.11(e) shall be taken as
promptly as practicable, and in any event within 45 days, after the U.S. Borrower receives the
respective request from the Administrative Agent or the Required Lenders.

          (h) Notwithstanding anything to the contrary contained in clauses (c) through (g) above, to
the extent the taking of any action as described above by a new Subsidiary acquired pursuant to a
Permitted Acquisition, which is subject to Permitted Acquired Debt which at such time remains in
existence as permitted by Section 9.04(b)(vi), then to the extent that the terms of the respective
Permitted Acquired Debt prohibit the taking of any actions which would otherwise be required of
such Subsidiary by this Section 8.11, then the time for taking the respective actions (to the
extent prohibited by the terms of the respective Permitted Acquired Debt) shall be extended until
10 Business Days after the earlier of (i) the date of repayment of such Permitted Acquired Debt and
(ii) the first date on which the taking of such actions would not violate the terms of the
respective issue of Permitted Acquired Debt. To the extent the terms of any Permitted Acquired
Debt prohibits the taking of actions otherwise required by this Section 8.11, upon the request of
the Administrative Agent or the Required Lenders, each Credit Agreement Party shall, or shall cause
the respective Subsidiaries of the U.S. Borrower to, (x) prepay any such Permitted Acquired Debt
which is permitted to be prepaid and/or (y) use reasonable efforts to obtain such consents or
approvals as are needed so that the taking of the actions otherwise specified in this Section 8.11
would not violate the terms of the respective issue of Permitted Acquired Debt. Furthermore, to
the extent any Subsidiary which is not a Wholly-Owned Subsidiary is acquired pursuant to a
Permitted Acquisition (in accordance with the limitations contained in the definition thereof),
then for so long as such Subsidiary is not a Wholly-Owned Subsidiary, to the extent the U.S.
Borrower in good faith determines that the respective Subsidiary is not able, under applicable
requirements of law (whether because of fiduciary duties under applicable law or other requirements
of applicable law) to execute and deliver a Subsidiaries Guaranty or one or more Security
Documents, the respective such Subsidiary shall not be required to become a Subsidiary Guarantor or
execute and deliver such Security Documents as otherwise required above.

          (i) Within 30 days following the request of the Administrative Agent, the Collateral Agent or
the Required Lenders, the Credit Agreement Parties shall cause each Fee Capped Foreign Subsidiary
Guarantor (to the maximum extent permitted by applicable law) to (x) enter into such amendments
and/or modifications to the relevant Credit Documents to which such Fee Capped Foreign Subsidiary
Guarantor is a party to cause the guaranty amount or the secured obligations thereunder, as
applicable, to equal 110% of the fair market value of the Property owned or held by such Fee Capped
Foreign Subsidiary Guarantor and (y) pay all registration, notorial and other fees, all taxes and
all other amounts as may be required in connection with the increase in amount of the guaranty
and/or the secured obligations under such Credit Documents.

          (j) In the event that the Administrative Agent or the Required Lenders at any time after the
Initial Borrowing Date determine in their reasonable discretion (whether as a result of a position
taken by an applicable bank regulatory agency or official, or otherwise) that real estate
appraisals satisfying the requirements set forth in 12 C.F.R., Part 34-Subpart C, or any successor
or similar statute, role, regulation, guideline or order (any such appraisal, a “Required
Appraisal”) are or were required to be obtained, or should be obtained, in connection with any
U.S. Mortgaged Property or U.S. Mortgaged Properties, then, within 90 days after receiving

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written notice thereof from the Administrative Agent or the Required Lenders, as the case may be, the U.S.
Borrower shall cause such Required Appraisal to be delivered, at the expense of the U.S. Borrower,
to the Administrative Agent, which Required Appraisal, and the respective appraiser, shall be
satisfactory to the Administrative Agent.

          (k) Notwithstanding any “after-acquired property” covenant contained in any Foreign Security
Document requiring the grant of security interests in Property of any Foreign Credit Party in favor
of the Collateral Agent (but subject to Sections 8.11(a) and (e)), no Foreign Credit Party shall be
required to grant the Collateral Agent security interests in Property of such Foreign Credit Party
acquired after the Initial Borrowing Date which is not a vessel and does not constitute Real
Property (all such Property, “After-Acquired Foreign Personal Property”) and which is not
covered already expressly by the respective Foreign Security Document as otherwise required by such
Foreign Security Document if the gross book value of all After-Acquired Foreign Personal Property
of such Foreign Credit Party (determined as of the last day of the calendar month then last ended)
excluded from the pledge requirements pursuant to this clause (k) is less than $10,000,000,
unless (and until) the aggregate gross book value of all After-Acquired Foreign Personal Property
of all Foreign Credit Parties excluded from the pledge requirements pursuant to this clause (k)
(determined as of the last day of the calendar month then last ended) exceeds $20,000,000, at which
time the Foreign Credit Parties shall take all actions required to be taken pursuant to the
respective Foreign Security Documents to grant the Collateral Agent a security interest in such
theretofore excluded After-Acquired Foreign Personal Property as is required to cause the aggregate
gross book value (determined as described above) of all After-Acquired Foreign Personal Property of
all Foreign Credit Parties not then subject to a security interest in favor of the Collateral Agent
pursuant to the relevant Foreign Security Documents not to exceed $5,000,000.

          (l) Notwithstanding anything to the contrary contained above in this Section 8.11 or elsewhere
in this Agreement or the other Credit Documents, no Credit Party shall be required to grant a
security interest in, or Lien on, any Excluded Collateral (so long as the respective Property
constitutes Excluded Collateral), and the value of any Excluded Collateral shall not be taken into
account in making determinations pursuant to the foregoing clauses of this Section 8.11.

          (m) No later than 45 days after the effective date of Amendment 1 (or such later date as the
Administrative Agent shall agree in its sole discretion), the applicable Credit Parties shall cause
to be executed and/or delivered, as applicable, to the Administrative Agent:

     (i) with respect to the Foreign Security Documents, such amendments duly executed and
acknowledged by the applicable Credit Parties as may be requested by the
Administrative Agent in order to preserve and protect the validity of the Liens granted
to the Collateral Agent pursuant to such Foreign Security Documents;

     (ii) with respect to each Mortgage in favor of the Collateral Agent with respect to any
U.S. Mortgaged Property, an amendment (each, a “Mortgage Amendment”) duly executed
and acknowledged by the applicable Credit Party in form and substance reasonably
satisfactory to the Collateral Agent and providing that, for the avoidance of doubt, the
obligations of the applicable mortgagor secured by such Mortgage include a

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guaranty by such mortgagor of all Obligations of the Bermuda Borrower under this Agreement;

     (iii) with respect to each Mortgage Amendment, an endorsement or other modification to
the existing Mortgage Policy providing assurance reasonably satisfactory to the Collateral
Agent that the lien on such Mortgaged Property in favor of the Collateral Agent shall
continue to have the enforceability and priority in effect immediately prior to the
effectiveness of Amendment 1;

     (iv) with respect to each Mortgage Amendment, opinions of counsel to the Credit Parties
covering customary matters and in form and substance reasonably satisfactory to the
Collateral Agent;

     (v) with respect to each U.S. Mortgaged Property requested by the Collateral Agent, a
completed “Life-of-Loan” Federal Emergency Management Agency Standard Flood Hazard
Determination (together with a notice about special flood hazard area status and flood
disaster assistance duly executed by the applicable Credit Parties); and

     (vi) a copy of, or a certificate as to coverage under, the insurance policies required
by Section 8.03 in form and substance satisfactory to the Collateral Agent.

          8.12 Foreign Subsidiaries Security. If following a change in the relevant sections of
the Code or the regulations, rules, rulings, notices or other official pronouncements issued or
promulgated thereunder, counsel for the U.S. Borrower reasonably acceptable to the Administrative
Agent and the Required Lenders does not within 30 days after a request from the Administrative
Agent or the Required Lenders deliver evidence, in form and substance reasonably satisfactory to
the Administrative Agent and the Required Lenders, that (i) a pledge of 66-2/3% or more of the
total combined voting power of all classes of Equity Interests entitled to vote of any Foreign
Unrestricted Subsidiary owned by a U.S. Credit Party which has not already had all of its Equity
Interests pledged pursuant to the U.S. Pledge Agreement or a Local Law Pledge Agreement, as
applicable, to secure all of the Obligations (as defined in the respective such Security Document),
(ii) the entering into by a Foreign Subsidiary Guarantor of a pledge agreement in substantially the
form of the U.S. Pledge Agreement, (iii) the entering into by a Foreign Subsidiary Guarantor of a
security agreement in substantially the form of the U.S. Security Agreement and (iv) the entering
into by a Foreign Subsidiary Guarantor of a guaranty in substantially the form of the U.S.
Subsidiaries Guaranty, in any such case would cause the undistributed earnings of such Foreign
Subsidiary as determined for Federal income tax purposes to be treated as a deemed dividend to such
Foreign Subsidiary’s United States parent or a deemed disposition of the shares of stock of such
Foreign Subsidiary for Federal income tax purposes, then
(I) in the case of a failure to deliver the evidence described in clause (i) above, that
portion of such Foreign Unrestricted Subsidiary’s outstanding Equity Interests owned or held by a
U.S. Credit Party and not theretofore pledged pursuant to the U.S. Pledge Agreement or a Local Law
Pledge Agreement, as applicable, to secure all of the Obligations (as defined in the respective
such Security Document) shall be pledged to the Collateral Agent for the benefit of the Secured
Creditors pursuant to the U.S. Pledge Agreement or the relevant Local Law Pledge Agreement (or
another pledge agreement in substantially similar form, if needed), (II) in the case of a failure
to deliver the evidence described in clause (ii) above, such Foreign Subsidiary Guarantor shall

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execute and deliver the U.S. Pledge Agreement (or another pledge agreement in substantially similar
form, if needed), granting to the Collateral Agent for the benefit of the Secured Creditors a
security interest in all of the capital stock, other Equity Interests and promissory notes owned by
such Foreign Subsidiary (other than Excluded Collateral) and securing the Obligations of the U.S.
Borrower under the Credit Documents and under any Interest Rate Protection Agreement or Other
Hedging Agreement and, in the event the U.S. Subsidiaries Guaranty shall have been executed by such
Foreign Subsidiary Guarantor, the obligations of such Foreign Subsidiary Guarantor thereunder,
(III) in the case of a failure to deliver the evidence described in clause (iii) above, such
Foreign Subsidiary Guarantor shall execute and deliver the U.S. Security Agreement (or another
security agreement in substantially similar form, if needed) granting to the Collateral Agent for
the benefit of the Secured Creditors a security interest in all of such Foreign Subsidiary
Guarantor’s assets (other than the capital stock, other Equity Interests and promissory notes owned
by such Foreign Subsidiary and such assets which constitute Excluded Collateral) and securing the
obligations of the U.S. Borrower under the Credit Documents and under any Interest Rate Protection
Agreement or Other Hedging Agreement and, in the event the U.S. Subsidiaries Guaranty shall have
been executed by such Foreign Subsidiary Guarantor, the obligations of such Foreign Subsidiary
Guarantor thereunder and (IV) in the case of a failure to deliver the evidence described in clause
(iv) above, such Foreign Subsidiary Guarantor shall execute and deliver the U.S. Subsidiaries
Guaranty (or another guaranty in substantially similar form, if needed), guaranteeing the
Obligations of the U.S. Borrower under the Credit Documents and under any Interest Rate Protection
Agreement or Other Hedging Agreement, in each case to the extent that the entering into of the U.S.
Pledge Agreement, the U.S. Security Agreement or the U.S. Subsidiaries Guaranty (or similar such
agreement or guaranty) is permitted by the laws of the respective foreign jurisdiction and with all
documents delivered pursuant to this Section 8.12 to be in form and substance reasonably
satisfactory to the Administrative Agent and/or the Required Lenders. Notwithstanding anything to
the contrary contained in this Section 8.12, no Foreign Subsidiary shall be required to comply with
the provisions of this Section 8.12 if the tax advisors for the U.S. Borrower or such Subsidiary
determine that there is a reasonable likelihood that such Foreign Subsidiary is, or has ever been,
a passive foreign investment company within the meaning of Section 1297 of the Code.

          8.13 Use of Proceeds. The U.S. Borrower will, and will cause each of its Subsidiaries
to, use the proceeds of the Loans for the purposes specified in Section 7.05. No Credit Agreement
Party will, nor will it permit any of its Subsidiaries to, use any of the proceeds of the Loans,
any Letter of Credit or any Bank Guaranty to finance the acquisition of any Person that has not
been approved and recommended by the board of directors (or functional equivalent thereof) or the
requisite shareholders of such Person.

          8.14 Ownership of Subsidiaries. Notwithstanding anything to the contrary contained in
this Agreement, (x) the U.S. Borrower shall at all times own directly or indirectly 100% of the
capital stock of the Bermuda Borrower and (y) subject to the proviso to the first sentence of
Section 8.18(a), the U.S. Borrower shall at all times own directly or indirectly (through one or
more Wholly-Owned Domestic Subsidiaries (as opposed to through Foreign Subsidiaries)) all of the
capital stock or other Equity Interests (to the extent owned by the U.S. Borrower or any of its
Subsidiaries) of each Domestic Subsidiary of the U.S. Borrower.

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          The U.S. Borrower shall at all times own, directly or indirectly, 100% of the capital stock or
other Equity Interests of its Subsidiaries (except to the extent (v) with respect to Foreign
Subsidiaries, directors’ qualifying shares and other nominal amounts of shares required by
applicable law to be held by Persons (other than directors) are issued from time to time (so long
as the respective Subsidiary continues to constitute a Wholly-Owned Subsidiary of the U.S.
Borrower), (w) 100% of the capital stock or other Equity Interests of any such Subsidiary are sold,
transferred or otherwise disposed of pursuant to a transaction permitted by Section 9.02, (x)
less than 100% of the capital stock or other Equity Interests are acquired in the
respective Subsidiary pursuant to a Permitted Acquisition which meets the criteria specified in the
definition of Permitted Acquisition contained herein, (y) such capital stock or other Equity
Interests are acquired pursuant to an Investment permitted by Sections 9.05(xv) and (xix) or (z)
set forth on Schedule VII).

          8.15 Permitted Acquisitions. (a) Subject to the provisions of this Section 8.15 and
the requirements contained in the definition of Permitted Acquisition, the U.S. Borrower and any of
its Wholly-Owned Subsidiaries may from time to time effect Permitted Acquisitions, so long as (in
each case except to the extent the Required Lenders otherwise specifically agree in writing in the
case of a specific Permitted Acquisition): (i) no Default or Event of Default shall be in
existence at the time of the consummation of the proposed Permitted Acquisition or immediately
after giving effect thereto; (ii) the U.S. Borrower shall have given the Administrative Agent (on
behalf of the Lenders) at least 10 Business Days’ prior written notice of the proposed Permitted
Acquisition; (iii) all representations and warranties contained herein and in the other Credit
Documents shall be true and correct in all material respects with the same effect as though such
representations and warranties had been made on and as of the date of such Permitted Acquisition
(both before and after giving effect thereto), unless stated to relate to a specific earlier date,
in which case such representations and warranties shall be true and correct in all material
respects as of such earlier date; (iv) the U.S. Borrower provides to the Administrative Agent (on
behalf of the Lenders) as soon as available but not later than 5 Business Days after the execution
thereof, a copy of any executed purchase agreement or similar agreement with respect to such
Permitted Acquisition; (v) after giving effect to such Permitted Acquisition and the payment of all
post closing purchase price adjustments required (in the good faith determination of the U.S.
Borrower) in connection with such Permitted Acquisition (and all other Permitted Acquisitions for
which such purchase price adjustments may be required to be made) and all capital expenditures (and
the financing thereof) reasonably anticipated by the U.S. Borrower to be made in the business
acquired pursuant to such Permitted Acquisition within the 180 day period (such period for any
Permitted Acquisition, a “Post-Closing Period” following such Permitted Acquisition (and in the
businesses acquired pursuant to all other Permitted Acquisitions with Post Closing Periods ended
during the Post Closing Period of such Permitted Acquisition), the (x) Total Unutilized Revolving
Loan Commitment (as defined in the ABL Credit Agreement) or, if less, the
amount which could then be borrowed thereunder giving effect to the “borrowing base” or
similar limitations on amounts permitted to be borrowed thereunder or (y) in the event that the ABL
Credit Agreement shall have been replaced or refinanced, undrawn available amounts under other
working capital revolving credit facilities of the U.S. Borrower (determined based on the relevant
total commitments and borrowing base or other similar limitations as applicable), shall equal or
exceed $30,000,000; (vi) such proposed Permitted Acquisition shall be effected in accordance with
the relevant requirements of Section 8.18; (vii) the U.S. Borrower determines in good faith that
the U.S. Borrower and its Subsidiaries taken as a whole are not likely to assume

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or become liable
for material increased contingent liabilities as a result of such proposed Permitted Acquisition
(excluding, however, Indebtedness permitted to be incurred pursuant to Section 9.04 in connection
therewith); (viii) substantially all of the Acquired Entity or Business acquired pursuant to the
respective Permitted Acquisition is in a Qualified Jurisdiction (for such purpose, treating as
“Qualified Jurisdictions” the jurisdictions of organization of Fee Capped Foreign
Subsidiary Guarantors deemed to be “Qualified Non-U.S. Obligors” pursuant to clause (i) of
the proviso appearing in the definition of “Qualified Non-U.S. Obligors”), provided,
however, the respective proposed Permitted Acquisition shall not be required to meet the
requirements set forth above in this clause (viii) if the Maximum Permitted Consideration payable
in connection with such Permitted Acquisition, when aggregated with the Maximum Permitted
Consideration payable in connection with all other Permitted Acquisitions consummated after the
Restatement Effective Date in which all or substantially all of the Acquired Entity or Business so
acquired were not in Qualified Jurisdictions, does not exceed $300,000,000; and (ix) the U.S.
Borrower shall have delivered to the Administrative Agent on the date of the consummation of such
proposed Permitted Acquisition, an officer’s certificate executed by an Authorized Officer of the
U.S. Borrower, certifying to the best of his knowledge, compliance with the requirements of
preceding clauses (i) through (iii), inclusive, and clauses (v) through (viii), inclusive, and
containing the calculations required by the preceding clauses (v) and (viii);

          (b) At the time of each Permitted Acquisition involving the creation or acquisition of an
Unrestricted Subsidiary, or the acquisition of capital stock or other Equity Interests of any
Person (other than a Restricted Subsidiary of the U.S. Borrower), all capital stock or other Equity
Interests thereof created or acquired in connection with such Permitted Acquisition shall be
pledged for the benefit of the Secured Creditors as, and to the extent required by, Section 8.11
and the relevant Security Documents.

          (c) Each Credit Agreement Party shall cause each Subsidiary that is formed to effect, or is
acquired pursuant to, a Permitted Acquisition to comply with, and to execute and deliver, all of
the documentation required by, Sections 8.11 and 9.11, to the satisfaction of the Administrative
Agent.

          (d) The consummation of each Permitted Acquisition shall be deemed to be a representation and
warranty by each Credit Agreement Party that the certifications by each Credit Agreement Party (or
by one or more of its respective Authorized Officers) pursuant to Section 8.15 are true and correct
and that all conditions thereto have been satisfied and that same is permitted in accordance with
the terms of this Agreement, which representation and warranty shall be deemed to be a
representation and warranty for all purposes hereunder, including, without limitation, Sections 6
and 10.

          8.16 Maintenance of Company Separateness. Each Credit Agreement Party will, and will
cause each of its Subsidiaries to, satisfy customary Company formalities, including the holding of
regular board of directors’ and shareholders’ meetings or action by directors or shareholders
without a meeting and the maintenance of Company records. Neither the U.S. Borrower nor any other
Credit Party shall make any payment to a creditor of any Non-Guarantor Subsidiary in respect of any
liability of any Non-Guarantor Subsidiary, and no bank account of any Non-

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Guarantor Subsidiary shall be commingled with any bank account of the U.S. Borrower or any other Credit Party. Any
financial statements distributed to any creditors of any Non-Guarantor Subsidiary shall clearly
establish or indicate the corporate separateness of such Non-Guarantor Subsidiary from the U.S.
Borrower and its other Subsidiaries. Finally, neither the U.S. Borrower nor any of its
Subsidiaries shall take any action, or conduct its affairs in a manner, which is likely to result
in the Company existence of any Credit Agreement Party, any other Credit Party or any Non-Guarantor
Subsidiaries being ignored, or in the assets and liabilities of the U.S. Borrower or any other
Credit Party being substantively consolidated with those of any other such Person or any
Non-Guarantor Subsidiary in a bankruptcy, reorganization or other insolvency proceeding.

          8.17 Performance of Obligations. Each Credit Agreement Party will, and will cause each
of its Subsidiaries to, perform all of its obligations under the terms of each mortgage, deed of
trust, indenture, loan agreement or credit agreement and each other material agreement, contract or
instrument by which it is bound, except such non-performances as, individually or in the aggregate,
have not caused, and could not reasonably be expected to cause, a Default or Event of Default
hereunder or a Material Adverse Effect.

          8.18 Conduct of Business. (a) The Credit Agreement Parties shall take all actions so
that, at all times from and after the Initial Borrowing Date, all the assets of the U.S. Borrower
and its Subsidiaries located within the United States, all Equity Interests in all Domestic
Subsidiaries or other U.S. Persons and all or substantially all of the business of the U.S.
Borrower and its Subsidiaries conducted in the United States, are, in each case, owned or
conducted, as the case may be, by the U.S. Borrower and one or more Qualified U.S. Obligors which
are not direct or indirect Subsidiaries of any Subsidiary of the U.S. Borrower which is a Foreign
Subsidiary, provided that if a Foreign Subsidiary (not itself created or established in
contemplation of a Permitted Acquisition) is acquired pursuant to a Permitted Acquisition which
Foreign Subsidiary has (either directly or through one or more Domestic Subsidiaries) assets or
operations in the United States, the U.S. Borrower shall have a reasonable period of time (not to
exceed 60 days) to effect the transfer of U.S. assets and operations (including all Equity
Interests in any Domestic Subsidiaries or other U.S. Persons held by it) of the respective Foreign
Subsidiary to one or more Qualified U.S. Obligors, provided, further, that the
respective transfer shall not be required to be made if the U.S. Borrower in good faith determines
that such transfer would give rise to adverse tax consequences to the U.S. Borrower and its
Subsidiaries or would give rise to any material breach or violation of law or contract (in which
case, the U.S. Borrower and its Subsidiaries shall transfer such assets and operations at such
time, if any, as such adverse tax consequences or breach or violation would not exist and, until
such time, shall use good faith efforts so that any growth in the assets or operations of the
entity so acquired, to the extent located in the United States, are made within one or more
Qualified U.S. Obligors).

          In addition to the foregoing requirements, the Credit Agreement Parties shall take all actions
so that, at all times from and after the Initial Borrowing Date, all the assets of the U.S.
Borrower’s Subsidiaries located within all Qualified Non-U.S. Jurisdictions, all Equity Interests
in all Persons organized under any Qualified Non-U.S. Jurisdiction and all or substantially all of
the business of the U.S. Borrower’s Subsidiaries conducted in all Qualified Non-U.S. Jurisdictions,
are, in each case, owned or conducted, as the case may be, by one or more Qualified Non-U.S.
Obligors which are not direct or indirect Subsidiaries of any Subsidiary of the U.S. Borrower other
than Qualified Obligors, provided that if a Subsidiary of the U.S. Borrower organized under
the laws of a jurisdiction other than any Qualified Non-U.S. Jurisdiction (not itself created

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or established in contemplation of the respective Permitted Acquisition) is acquired pursuant to a
Permitted Acquisition which Subsidiary has (either directly or through one or more Subsidiaries)
assets or operations outside Qualified Non-U.S. Jurisdictions, the U.S. Borrower shall have a
reasonable period of time (not to exceed 60 days) to effect the transfer of all assets and
operations outside Qualified Non-U.S. Jurisdictions (including all Equity Interests in any Persons
held by it which are organized under the laws of one or more Qualified Non-U.S. Jurisdiction) of
the respective Subsidiary to one or more Qualified Non-U.S. Obligors which are not themselves
direct or indirect Subsidiaries of any Subsidiary of the U.S. Borrower other than Qualified
Obligors, provided, further, that the respective transfer shall not be required to
be made if the U.S. Borrower in good faith determines that such transfer would give rise to adverse
tax consequences to the U.S. Borrower and its Subsidiaries or would give rise to any material
breach or violation of law or contract (in which case, the U.S. Borrower and its Subsidiaries shall
transfer such assets and operations at such time, if any, as such adverse tax consequences or
breach or violation would not exist, and until such time shall use good faith efforts so that any
growth in the assets or operations of the entity so acquired, to the extent located in the
Qualified Non-U.S. Jurisdictions, are made within one or more Qualified Non-U.S. Obligors which are
not themselves direct or indirect Subsidiaries of any Subsidiary of the U.S. Borrower other than
Qualified Obligors). Notwithstanding the foregoing provisions of this Section 8.18(b), the
ownership of the Bermuda Partnership (a Subsidiary which is not a Qualified Non-U.S. Obligor) of
Equity Interests of Qualified Non-U.S. Obligors shall not be taken account of for purposes of
determining compliance with this Section 8.18(b), so long as the Credit Agreement Parties and their
respective Foreign Subsidiaries are at all times in compliance with Section 8.18(c) below.

          (b) The Credit Agreement Parties shall take all actions so that all Foreign Subsidiaries that
are not Qualified Non-U.S. Obligors are directly or indirectly owned by one or more Qualified
Non-U.S. Obligors (or, in the case of the Bermuda Partnership, is owned by the Bermuda Partnership
Partners).

          (c) For the avoidance of doubt, it is understood and agreed that the foregoing provisions of
this Section 8.18 shall not prohibit the acquisition of, or Investments in, Non-Wholly-Owned
Subsidiaries as contemplated by Section 9.11(b), provided that the Equity Interest owned by
the U.S. Borrower or any of its Subsidiaries in such Non-Wholly-Owned Subsidiaries, to the extent
organized under the laws of any Qualified Jurisdiction, shall be subject to the requirements of
preceding clauses (a), (b) and (c) of this Section 8.18.

          8.19 Margin Stock. Each Credit Agreement Party shall take all actions so that at all
times the aggregate value of all Margin Stock (other than treasury stock) owned by the U.S.
Borrower and its Subsidiaries (for such purpose, using the initial purchase price paid by the U.S.
Borrower or such Subsidiary for the respective shares of Margin Stock) shall not exceed
$10,000,000. So long as the aggregate value of Margin Stock (other than treasury stock) owned by
the U.S. Borrower and its Subsidiaries (determined as provided in the preceding sentence) does not
exceed $10,000,000, all Margin Stock at any time owned by the U.S. Borrower and its Subsidiaries
shall not constitute Collateral and no security interest shall be granted therein pursuant to any
Credit Document. Without excusing any violation of the first sentence of this Section 8.19, if at
any time the aggregate value of all Margin Stock (other than treasury stock) owned by the U.S.
Borrower and its Subsidiaries (determined as provided in the first sentence of this Section 8.19)
exceeds $10,000,000, then (x) all Margin Stock owned by the Credit Parties

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(except to the extent constituting Excluded Collateral) shall be pledged, and delivered for pledge, pursuant to the
relevant Security Documents and (y) the U.S. Borrower shall execute and deliver to the Lenders
appropriate completed forms (including, without limitation, Forms G-3 and U-1, as appropriate)
establishing compliance with the Margin Regulations. If at any time any Margin Stock is required
to be pledged as a result of the provisions of the immediately preceding sentence, repayments of
outstanding Obligations shall be required to be made, and subsequent Credit Events shall only be
permitted, in compliance with the applicable provisions of the Margin Regulations.

          8.20 Foreign Security Document Amendments. (x) If any additional Foreign Security
Document is entered into by the U.S. Borrower or any of its Subsidiaries after the Restatement
Effective Date or (y) any change in applicable law governing any Foreign Security Document relevant
to the scope of the Obligations covered by such Foreign Security Document or the Secured Creditors
entitled to the benefits of such Foreign Security Document occurs after the Restatement Effective
Date and, in any such case, the Collateral Agent (based on the advice of local counsel) has
determined that amendments to the respective Foreign Security Document are required to maintain a
valid and enforceable first priority lien on the Collateral covered by such Foreign Security
Document in favor of the Collateral Agent for the benefit of all of the Secured Creditors securing
all of the relevant Obligations (i.e., all Tranche C Term Loans, all Bermuda Borrower
Letters of Credit and Unpaid Drawings thereunder, all Bermuda Borrower Bank Guaranties and
Unreimbursed Payments thereunder, and, after a given Incremental Term Loan Commitment Date, all
related incremental Obligations resulting from the provision of the respective Incremental Term
Loan Commitments to the Bermuda Borrower), then, within 90 days following the request of the
Collateral Agent or the Administrative Agent, the U.S. Borrower shall duly authorize, execute and
deliver to the Collateral Agent, or cause to be duly authorized, executed and delivered to the
Collateral Agent, a fully executed counterpart of an amendment to such Foreign Security Document,
which amendment shall (i) be in full force and effect (and, if applicable, properly recorded) no
later than the date of required execution and delivery of such amendment as provided above and (ii)
otherwise be in form and substance satisfactory to the Administrative Agent.

          Section 9. Negative Covenants. Each Credit Agreement Party hereby covenants and agrees
that as of the Restatement Effective Date and thereafter for so long as this Agreement is in effect
and until the Total Commitment has terminated, no Letters of Credit, Bank Guaranties or Notes are
outstanding and the Loans, together with interest, Fees and all other Obligations (other than any
indemnities described in Section 13.13 which are not then due and payable) incurred hereunder, are
paid in full:

          9.01 Changes in Business; etc. (a) The U.S. Borrower and its Subsidiaries will not
engage in any business other than a Permitted Business.

          (b) The Bermuda Partnership will not engage in any business and will not own any significant
assets or any cash or Cash Equivalents (other than its ownership of Equity Interests of Qualified
Non-U.S. Obligors) or have any material liabilities (other than those liabilities for which it is
responsible under the Credit Documents to which it is a party), provided that the Bermuda
Partnership may (I) provide treasury, accounting, logistic and other administrative support
services to its Affiliates on an arms’ length basis and hold and retain cash earned in con-

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nection
with the provision of such services, (II) receive and hold additional cash and Cash Equivalents
from its Subsidiaries and/or its Affiliates, so long as same are promptly (and in any event within
one Business Day of receipt thereof) loaned, distributed and/or contributed, subject to Section
9.01(c), to its Subsidiaries and/or Affiliates in accordance with the requirements of Section 9.05
of this Agreement and (III) engage in those activities that (i) are incidental to (x) the
maintenance of its Company existence in compliance with applicable law, (y) legal, tax and
accounting matters in connection with any of the foregoing activities and (z) the entering into,
and performing its obligations under, the Credit Documents to which it is a party and (ii) are
otherwise expressly permitted by this Agreement (other than pursuant to preceding Section 9.01(a))
and the other Credit Documents.

          (c) Notwithstanding anything to the contrary contained above or elsewhere in this Agreement
(including, without limitation, Sections 9.02 and 9.05):

     (i) the Bermuda Partnership Partners shall not collectively own or hold (x) Property
(exclusive of Property leased or operated but not owned) with a Fair Market Value in excess
of $30,000,000 at any time or (y) cash or Cash Equivalents in an aggregate in excess of
$10,000,000; provided that (v) all assets owned by the Bermuda Partnership Partners
on the Restatement Effective Date (which assets shall have a net book value on the
Restatement Effective Date not to exceed $25,000,000) shall be excluded for purposes of such
determination, (w) any cash and Cash Equivalents loaned and/or contributed to such Persons
by Affiliates of such Persons shall be excluded for purposes of such determination, so long
as same are promptly (and in any event within one Business Day) loaned and/or distributed to
other Affiliates of such Persons (other than another Bermuda Partnership Partner) in
accordance with the requirements of this Agreement, (x) any inventory owned by the Bermuda
Partnership Partners shall be excluded for purposes of such determination, (y) any Equity
Interests in the Bermuda Partnership which are held by the Bermuda Partnership Partners
shall be excluded for purposes of such determination and (z) any intercompany receivable
owed to a Bermuda Partnership Partner by Dole Settlement Company shall be excluded for
purposes of such determination, so long as (I) both Dole Settlement Company (as obligor) and
the respective Bermuda Partnership Partner (as obligee) are parties to the Intercompany
Subordination Agreement and (II) such intercompany receivable is at all times subject to the
subordination provisions contained in the Intercompany Subordination Agreement;

     (ii) no Bermuda Partnership Partner shall merge, consolidate with or be liquidated or
dissolved into any other Person, provided, however, that any Bermuda
Partnership Partner may merge or consolidate with or into any other Wholly-Owned Domestic
Subsidiary of the U.S. Borrower formed for the sole purpose of reincorporating such
Bermuda Partnership Partner in a different jurisdiction, so long as the surviving entity of
such merger or consolidation remains a “Bermuda Partnership Partner” for all purposes of
this Agreement and the other Credit Documents (subject to and bound by all terms and
covenants herein and therein applicable to a “Bermuda Partnership Partner”);

     (iii) no Bermuda Partnership Partner shall engage in any business other than a business
which is the same or reasonably related to the business in which such Bermuda Partnership
Partner is engaged on the Original Effective Date;

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     (iv) no later than one Business Day following the date upon which any Bermuda
Partnership Partner receives or generates an Account (as defined in the U.S. Security
Agreement), such Account shall be sold on a non-recourse basis to Dole Settlement Company
(at a discount of 2%) in exchange for a note payable (which shall at all times be subject to
the subordination provisions contained in the Intercompany Subordination Agreement) and/or
the assumption of a payable or payables owing by such Bermuda Partnership Partner to its
relevant Subsidiary which sells fruit, inventory or other Property, or provides shipping
services, to such Bermuda Partnership Partner (which assumed liabilities shall also be
subject to the subordination provisions contained in the Intercompany Subordination
Agreement); and

     (v) upon the occurrence and during the continuance of any Specified Default or any
Event of Default under Section 10.01 or 10.05, unless otherwise directed by the
Administrative Agent or the Required Lenders, (x) neither the U.S. Borrower nor any of its
Subsidiaries shall sell fruit, inventory or other Property to, or contract to perform
shipping services for, any Bermuda Partnership Partner, (y) the U.S. Borrower and its
Subsidiaries shall sell to Dole Settlement Company fruit, inventory and other Property
formerly sold to, and shall contract with Dole Settlement Company to sell shipping services
formerly contracted with, any Bermuda Partnership Partner and (z) no Bermuda Partnership
Partner shall be permitted to receive any Dividends or the proceeds of any intercompany
loans or advances from any of its Affiliates.

          (d) Notwithstanding the foregoing, the Excluded Domestic Subsidiary will not engage in any
business and will not own any assets or have any liabilities; provided that the Excluded
Domestic Subsidiary may engage in those activities that are incidental to (x) the maintenance or
termination of its corporate existence in compliance with applicable law, and (y) legal, tax and
accounting matters in connection with any of the foregoing activities.

          (e) Notwithstanding the foregoing, no Excluded Bermuda Insurance Company will engage in any
business (other than the insurance related business conducted by it on the Restatement Effective
Date (including, without limitation, its business as a captive insurer for the U.S. Borrower and
its Affiliates with respect to property, casualty and liability insurance (including workers
compensation insurance))) and will not own any Equity Interests or any other significant assets
(other than assets used in the conduct of its business as described above) or have any liabilities
(other than those liabilities under the Documents to which it is a party and those liabilities
incurred in the ordinary course of its business as described above); provided, that an
Excluded Bermuda Insurance Company may engage in those activities that are incidental to (x)
the maintenance of its Company existence in compliance with applicable law, (y) legal, tax and
accounting matters in connection with any of the foregoing activities and (z) the entering into,
and performing its obligations under, this Agreement and the other Documents to which it is a
party.

          (f) Notwithstanding anything to the contrary contained above in this Section 9.01 or elsewhere
in this Agreement, at no time shall the U.S. Borrower or any Subsidiary of the U.S. Borrower be an
obligor or an obligee with respect to any Intercompany Debt, unless each obligor (including each
Person which is a guarantor thereof) and each obligee with respect thereto are party to the
Intercompany Subordination Agreement; provided, however, that the provi-

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sions hereof
shall not apply to those Non-Wholly Owned Subsidiaries listed on Part D of Schedule XII.

          (g) Notwithstanding the foregoing, no Excluded Foreign Subsidiary will engage in any business
or own any assets (other than (x) Equity Interests of another Excluded Foreign Subsidiary and (y)
immaterial assets with a Fair Market Value not exceeding $25,000) or have any liabilities;
provided, that any Excluded Foreign Subsidiary may engage in those activities that are
incidental to (x) the maintenance or termination of its corporate existence in compliance with
applicable law and (y) legal, tax and accounting matters in connection with any of the foregoing
activities.

          9.02 Consolidation; Merger; Sale or Purchase of Assets; etc. No Credit Agreement Party
will, nor will permit any of its respective Subsidiaries to, wind up, liquidate or dissolve its
affairs or enter into any transaction of merger or consolidation, or convey, sell, lease or
otherwise dispose of all or any part of its property or assets, or enter into any sale-leaseback
transactions, or purchase or otherwise acquire (in one or a series of related transactions) any
part of the property or assets (other than purchases or other acquisitions of inventory, materials
and equipment in the ordinary course of business) of any Person or agree to do any of the foregoing
at any future time, except that the following shall be permitted:

     (i) the U.S. Borrower and its Subsidiaries may lease (as lessee) or license (as
licensee) real or personal property (including intellectual property) in the ordinary course
of business (so long as any such lease or license does not create a Capitalized Lease
Obligation);

     (ii) Capital Expenditures by the U.S. Borrower and its Subsidiaries;

     (iii) any Investments permitted pursuant to Section 9.05;

     (iv) the U.S. Borrower and its Subsidiaries may, in the ordinary course of business,
sell or otherwise dispose of assets (excluding capital stock of, or other Equity Interests
in, Subsidiaries and joint ventures) which, in the reasonable opinion of such Person, are
obsolete, uneconomic or worn-out;

     (v) the U.S. Borrower and its Subsidiaries may sell assets (other than (I) the capital
stock or other Equity Interests of any Wholly-Owned Subsidiary unless all of the capital
stock or other Equity Interests of such Wholly-Owned Subsidiary are sold in accordance with
this clause (v) and (II) assets subject to a Contemplated Asset Sale (which
shall be governed by Section 9.02(xviii)), so long as (v) no Default or Event of
Default then exists or would result therefrom, (w) each such sale is in an arm’s-length
transaction and the U.S. Borrower or the respective Subsidiary receives at least Fair Market
Value, (x) except for customary post-closing adjustments (to be paid in cash within 180 days
following the closing of the respective sale or disposition), at least 75% of the total
consideration received by the U.S. Borrower or such Subsidiary is paid in cash at the time
of the closing of such sale or disposition (provided that sales of assets for
aggregate consideration of $20,000,000 (taking the Fair Market Value of any non-cash
consideration) in any Fiscal Year of the U.S. Borrower shall not be subject to the minimum
cash requirement

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set forth above in this subclause (x)), (y) the Net Sale Proceeds therefrom
are applied and/or reinvested as (and to the extent) required by Section 4.02(c) and (z) the
aggregate amount of the proceeds received from all assets sold pursuant to this clause (v)
shall not exceed $150,000,000 in any Fiscal Year of the U.S. Borrower;

     (vi) each of the U.S. Borrower and its Subsidiaries may sell or discount, in each case
without recourse and in the ordinary course of business, overdue accounts receivable arising
in the ordinary course of business, but only in connection with the compromise or collection
thereof and not as part of any financing transaction;

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

     (viii) subject to Sections 9.01(b) and (c), transfers of assets (u) pursuant to the
Foreign Asset Transfer, (v) among the Qualified U.S. Obligors, (w) among the Qualified
Non-U.S. Obligors, (x) by any Subsidiary of the U.S. Borrower to any Qualified U.S. Obligor,
(y) by any Foreign Subsidiary of the U.S. Borrower to any Qualified Non-U.S. Obligor and (z)
by any Foreign Subsidiary of the U.S. Borrower (other than a Qualified Non-U.S. Obligor) to
any Wholly-Owned Foreign Subsidiary of the U.S. Borrower, in the case of any such transfer,
so long as (I) no Specified Default and no Event of Default then exists or would exist
immediately after giving effect to the respective transfer, (II) any security interests
granted to the Collateral Agent for the benefit of the Secured Creditors pursuant to the
relevant Security Documents in the assets so transferred shall remain in full force and
effect and perfected and enforceable (to at least the same extent as in effect immediately
prior to such transfer) and (III) if the respective transferor is party to a Guaranty, the
nature and scope of the obligations of such transferor under its Guaranty are substantially
identical to the nature and scope of the obligations of the respective transferee under its
Guaranty;

     (ix) subject to Sections 9.01(b) and (c), (x) any Domestic Subsidiary of the U.S.
Borrower may be merged, consolidated or liquidated with or into the U.S. Borrower (so long
as the U.S. Borrower is the surviving corporation of such merger, consolidation or
liquidation) or any U.S. Subsidiary Guarantor (so long as a U.S. Subsidiary Guarantor is the
surviving corporation of such merger, consolidation or liquidation), (y) any Qualified
Non-U.S. Obligor may be merged, consolidated or liquidated with or into any other
Qualified Non-U.S. Obligor and (z) any Foreign Subsidiary of the U.S. Borrower (other
than a Qualified Non-U.S. Obligor) may be merged, consolidated or liquidated with or into
any Wholly-Owned Foreign Subsidiary of the U.S. Borrower, so long as such Wholly-Owned
Foreign Subsidiary is the surviving corporation of such merger, consolidation or
liquidation; provided that any such merger, consolidation or liquidation shall only
be permitted pursuant to this Section 9.02(ix), so long as (I) no Specified Default and no
Event of Default then exists or would exist immediately after giving effect thereto, (II)
any security interests granted to the Collateral Agent for the benefit of the Secured
Creditors in the assets (and Equity Interests) of any such Person subject to any such

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transaction shall remain in full force and effect and perfected and enforceable (to at least
the same extent as in effect immediately prior to such merger, consolidation or liquidation)
and (III) if the Person to be merged, consolidated or liquidated into another Person as
contemplated above is party to a Guaranty, the nature and scope of the obligations of such
Person under its Guaranty are substantially identical to the nature and scope of the
obligations of such other Person under its Guaranty;

     (x) subject to Sections 9.01(b) and (c), the U.S. Borrower and its Subsidiaries may
transfer inventory in a non-cash or cash transfer to Wholly-Owned Subsidiaries of the U.S.
Borrower that are not Qualified Obligors, in each case so long as (I) any such transfer is
made in the ordinary course of its business and consistent with past practice of the U.S.
Borrower and its Subsidiaries as in effect on the Effective Date, (II) if the respective
transfer is being made to any Credit Party, all actions needed to maintain the perfection,
priority and enforceability of the security interests, if any, of the Collateral Agent in
the assets so transferred are taken at the time of the respective transfer, (III) the U.S.
Borrower reasonably determines that the transfer is not reasonably likely to be adverse to
the interests of the Lenders in any material respect and (IV) no Specified Default and no
Event of Default then exists or would exist immediately after giving effect to the
respective transfer;

     (xi) subject to Sections 9.01(b) and (c), so long as no Specified Default and no Event
of Default exists at the time of the respective transfer or immediately after giving effect
thereto, Qualified Obligors shall be permitted to transfer additional assets (other than
inventory, cash, Cash Equivalents and Equity Interests in any Credit Party) to other
Subsidiaries of the U.S. Borrower, so long as cash in an amount at least equal to the Fair
Market Value of the assets so transferred is received by the respective transferor;

     (xii) the U.S. Borrower and its Subsidiaries may sell or exchange specific items of
equipment, so long as the purpose of each such sale or exchange is to acquire (and results
within 90 days of such sale or exchange in the acquisition of) replacement items of
equipment which are useful in a Permitted Business;

     (xiii) each of the Borrowers and the Subsidiary Guarantors shall be permitted to make
Permitted Acquisitions, so long as such Permitted Acquisitions are effected in accordance
with the requirements of Section 8.15;

     (xiv) one or more Subsidiaries identified to the Agents may sell all of the Equity
Interests of a certain Subsidiary of the U.S. Borrower owned by such Subsidiaries and identified to the Agents, so long as (v) no Default or Event of Default then
exists or would result therefrom, (w) each such sale is in an arm’s-length transaction and
the respective Subsidiary receives at least Fair Market Value, (x) except for customary
post-closing adjustments, at least 20% of the total consideration received by such
Subsidiaries (in the aggregate) is paid in cash at the time of the closing of such sale, (y)
the Net Sale Proceeds therefrom are applied and/or reinvested as (and to the extent)
required by Section 4.02(c) and (z) the aggregate amount of the consideration (taking the
Fair Market Value of any non-cash consideration) received from all such sales pursuant to this Sec-

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tion 9.02(xiv), together with the sale or sales made pursuant to Section 9.02(xx),
shall not exceed $50,000,000;

     (xv) the Sale-Lease Back Transaction;

     (xvi) each of the U.S. Borrower and its Subsidiaries may sell or liquidate Cash
Equivalents, in each case for cash at fair market value (as reasonably determined by the
U.S. Borrower or the respective Subsidiary);

     (xvii) the U.S. Borrower and its Subsidiaries may sell inventory to their respective
customers in the ordinary course of business;

     (xviii) each of the U.S. Borrower and its Subsidiaries may effect Contemplated Asset
Sales, so long as (i) no Event of Default then exists or would exist immediately after
giving effect thereto, (ii) each such sale is an arms’-length transaction and the U.S.
Borrower or the respective Subsidiary receives at least Fair Market Value, (iii) the
consideration therefor consists solely of cash and/or Permitted Installment Notes (to the
extent same may be issued in accordance with the definition thereof), (iv) at least 50% of
the total consideration received by the U.S. Borrower or such Subsidiary is paid in cash at
the time of the closing of such sale, and (v) the Net Sale Proceeds therefrom are applied
as, and to the extent, required by Section 4.02(c);

     (xix) the U.S. Borrower and its Domestic Subsidiaries may sell and leaseback (i) Real
Property located in Gaston County, North Carolina (the “Gaston Property”), to the
extent same is not a Principal Property and (ii) Principal Properties, so long as (v) no
Default or Event of Default then exists or would result therefrom, (w) each such sale is
made pursuant to an arm’s-length transaction, (x) 100% of the total consideration received
by the U.S. Borrower or such Subsidiary is paid in cash at the time of the closing of such
sale, (y) the Net Sale Proceeds therefrom equal at least 90% of the Fair Market Value of the
Property subject to such sale-leaseback transaction and (z) the Net Sale Proceeds therefrom
are applied as a mandatory repayment and/or commitment reduction and/or reinvested, in any
case, in accordance with the requirements of Section 4.02(c); and

     (xx) certain Domestic Subsidiaries identified to the Agents which own Real Property
located in California may sell Real Property and other assets, in each case, so long as (v)
no Default or Event of Default then exists or would result therefrom, (w) each such sale is
in an arm’s-length transaction and the respective Subsidiary receives at least Fair Market
Value, (x) except for customary post-closing adjustments, at least 75% of the
total consideration received by such Subsidiaries (in the aggregate) is paid in cash at
the time of the closing of such sale, (y) unless on-loaned to an Affiliate of the U.S.
Borrower in accordance with the requirements of Section 9.05 and 9.07 promptly following the
consummation of such sale, any Net Sale Proceeds therefrom received by a Subsidiary of the
U.S. Borrower (exclusive of any portion thereof which is distributed to a minority
shareholder of such Subsidiary in accordance with the requirements of Section 9.06) are
applied and/or reinvested as (and to the extent) required by Section 4.02(c) and (z) the
aggregate amount of the consideration (taking the Fair Market Value of any non-cash

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consideration) received from such sale or sales pursuant to this Section 9.02(xx), together
with the sale or sales made pursuant to Section 9.02(xiv), shall not exceed $50,000,000 (the
“California Disposition”).

Notwithstanding anything to the contrary contained above in this Section 9.02, in no event shall
the U.S. Borrower or any of its Subsidiaries enter into any sale-leaseback transactions, except (x)
in accordance with Sections 9.02(xv) and (xix) above and (y) for the sale-leaseback of (A) the
Vessels: Tropical Mist, Tropical Star and Tropical Sky, (B) the real property, fixtures and related
assets located at 639 South Sanborn Road, Salinas, California and (C) the approximately 2,895 acres
farmed, on the effective date of Amendment 1, by the U.S. Borrower and its Subsidiaries in the
following parcels on the island of Oahu in the State of Hawaii: TMKs 6-4-1-1, 6-4-1-6, 6-4-3-1,
6-4-3-3, 6-4-4-1, 6-4-4-8, 6-5-1-2, 6-5-2-11 and 6-7-9-3. The foregoing provisions of this Section
9.02 are subject to continued compliance by the Credit Agreement Parties and their Subsidiaries
with the requirements of Sections 8.18, 9.01 and 9.11. To the extent the Required Lenders waive
the provisions of this Section 9.02 with respect to the sale or other disposition of any
Collateral, or any Collateral is sold or otherwise disposed of as permitted by this Section 9.02,
such Collateral (unless transferred to the U.S. Borrower or a Subsidiary thereof) shall be sold or
otherwise disposed of free and clear of the Liens created by the Security Documents and the
Administrative Agent shall take such actions (including, without limitation, directing the
Collateral Agent to take such actions) as are appropriate in connection therewith.

          9.03 Liens. No Credit Agreement Party will, nor will permit any of its Subsidiaries
to, create, incur, assume or suffer to exist any Lien upon or with respect to any property or
assets of any kind (real or personal, tangible or intangible) of the U.S. Borrower or any of its
Subsidiaries, whether now owned or hereafter acquired, or sell any such property or assets subject
to an understanding or agreement, contingent or otherwise, to repurchase such property or assets
(including sales of accounts receivable or notes with recourse to the U.S. Borrower or any of its
Subsidiaries) or assign any right to receive income or permit the filing of any financing statement
under the UCC or any other similar notice of Lien under any similar recording or notice statute;
provided that the provisions of this Section 9.03 shall not prevent the creation,
incurrence, assumption or existence of the following (Liens described below are herein referred to
as “Permitted Liens”):

     (i) inchoate Liens for taxes, assessments or governmental charges or levies not yet due
and payable or Liens for taxes, assessments or governmental charges or levies being
contested in good faith and by appropriate proceedings for which adequate reserves have been
established in accordance with U.S. GAAP;

     (ii) Liens in respect of property or assets of the U.S. Borrower or any of its
Subsidiaries imposed by law which were incurred in the ordinary course of business and which
have not arisen to secure Indebtedness for borrowed money, such as carriers’, warehousemen’s
and mechanics’ Liens, statutory landlord’s Liens, maritime Liens and other similar Liens
arising in the ordinary course of business, and which either (x) do not in the aggregate
materially detract from the value of such property or assets or materially impair the use
thereof in the operation of the business of the U.S. Borrower or any of its Subsidiaries or
(y) are being contested in good faith by appropriate proceedings, which proceed-

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ings have the effect of preventing the forfeiture or sale of the property or asset
subject to such Lien;

     (iii) (x) Liens created by or pursuant to this Agreement and the Security Documents,
(y) Liens (but only on Collateral of the U.S. Credit Parties) created by or pursuant to the
ABL Credit Agreement and the ABL Security Documents, securing Indebtedness incurred pursuant
to clause (xvii) of Section 9.04(b), in favor of the ABL Collateral Agent for the benefit of
the ABL Secured Creditors, as in effect on the date hereof and as amended, supplemented or
modified from time to time in accordance with the terms of the Intercreditor Agreement and
(z) Liens (but only on the Collateral of the U.S. Credit Parties) securing Permitted
Refinancing Senior Notes issued or given in exchange for, or the proceeds of which are used
to, refinance, renew, replace or refund any of the Existing 2009 Senior Notes or Existing
2010 Senior Notes, so long as such Permitted Refinancing Senior Notes constitute Notes
Obligations (as defined in the Intercreditor Agreement) and are otherwise permitted to be
secured by the definition of “Permitted Refinancing Senior Notes”;

     (iv) Liens in existence on the Restatement Effective Date which are listed, and the
property subject thereto described, in Schedule IX, but only to the respective date, if any,
set forth in such Schedule IX for the removal, replacement and termination of any such
Liens, plus renewals, replacements and extensions of such Liens, provided
that (x) the aggregate principal amount of the Indebtedness, if any, secured by such Liens
does not increase from that amount outstanding at the time of any such renewal, replacement
or extension and (y) any such renewal, replacement or extension does not encumber any
additional assets or properties of the U.S. Borrower or any of its Subsidiaries;

     (v) Liens (x) arising from judgments, decrees or attachments in circumstances not
constituting an Event of Default under Section 10.09, (y) arising in connection with the
deposit or payment of cash or other Property with or to any court or other governmental
authority in connection with any pending claim or litigation and (z) arising in connection
with the deposit of cash or other Property in connection with the issuance of stay and
appeal bonds, provided that the Fair Market Value of all Property (including cash) subject
to Liens pursuant to this clause (v) (whether pledged, paid, deposited or otherwise) shall
not exceed at any time the sum of (1) $75,000,000 (net of any insurance proceeds actually
received (and not returned) by the U.S. Borrower and its Subsidiaries in connection
therewith) plus (2) in the case of Properties of Subsidiaries of the U.S. Borrower
located outside the United States and subject to a Lien pursuant to this clause (v), an
additional $50,000,000 (net of any insurance proceeds actually received (and not returned)
by the U.S. Borrower and its Subsidiaries in connection therewith), if (and only if), in the
case of this sub-clause (2), the U.S. Borrower shall have caused to be delivered to the
Administrative Agent an opinion of counsel in form and substance, and from counsel,
reasonably satisfactory to the Administrative Agent to the effect that such counsel expects
a favorable judicial outcome with respect to the judgment, decree, attachment, claim or
litigation that gave rise to the Lien on the respective Property, provided,
further, however, that (I) in no event shall the Fair Market Value of all
Property (including cash) of the U.S. Borrower and its Subsidiaries located in the United
States and subject to Liens pursuant to this clause (v) (whether pledged, paid, deposited or
otherwise) exceed

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$25,000,000 at any time and (II) in the case of any non-consensual attachment on the
Property of any Subsidiary of the U.S. Borrower located outside the United States, the Fair
Market Value of such Property shall not be included for purposes of calculating compliance
with the immediately preceding proviso;

     (vi) Liens (other than any Lien imposed by ERISA) (x) incurred or deposits made in the
ordinary course of business of the U.S. Borrower and its Subsidiaries in connection with
workers’ compensation, unemployment insurance and other types of social security, (y) to
secure the performance by the U.S. Borrower and its Subsidiaries of tenders, statutory
obligations (other than excise taxes not described in Section 9.03(i)), surety and customs
bonds, statutory bonds, bids, leases, government contracts, trade contracts, performance and
return of money bonds and other similar obligations (exclusive of (I) obligations for the
payment of borrowed money and (II) stay and appeal bonds and other obligations described in
Section 9.03(v) above) or (z) to secure the performance by the U.S. Borrower and its
Subsidiaries of leases of Real Property, to the extent incurred or made in the ordinary
course of business consistent with past practices, provided that the aggregate Fair
Market Value of all Property pledged or deposited at any time pursuant to preceding
sub-clauses (y) and (z) shall not exceed $25,000,000 in the aggregate (it being understood
that letters of credit and bank guaranties issued in support of customs bonds, licensing
arrangements and similar obligations do not constitute Property pledged or deposited to
support such obligations);

     (vii) licenses, sublicenses, leases or subleases granted to third Persons in the
ordinary course of business not interfering in any material respect with the business of the
U.S. Borrower or any of its Subsidiaries;

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

     (ix) Liens of a lessor arising under any operating lease entered into by the U.S.
Borrower and its Subsidiaries in the ordinary course of business and relating solely to such
lease and the assets leased thereunder;

     (x) Liens upon assets of the U.S. Borrower or any of its Subsidiaries subject to
Capitalized Lease Obligations permitted pursuant to Section 9.04(b)(iv), provided
that (x) such Liens only serve to secure the payment of Indebtedness arising under such
Capitalized Lease Obligation and (y) the Lien encumbering the asset giving rise to the
Capitalized Lease Obligation does not encumber any other asset of the U.S. Borrower or any
of its Subsidiaries;

     (xi) Liens arising pursuant to purchase money mortgages or security interests securing
Indebtedness representing the purchase price (or financing of the purchase price within 30
days after the respective purchase) of assets acquired after the Restatement Effective Date
by the U.S. Borrower and its Subsidiaries, provided that (x) any such Liens

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attach only to the assets so purchased, (y) the Indebtedness secured by any such
Lien does not exceed 100% of the Fair Market Value or the purchase price of the property
being purchased at the time of the incurrence of such Indebtedness and (z) the Indebtedness
secured thereby is permitted to be incurred pursuant to Section 9.04(b)(iv);

     (xii) Liens on property or assets acquired pursuant to a Permitted Acquisition, or on
property or assets of a Subsidiary of the U.S. Borrower in existence at the time such
Subsidiary is acquired pursuant to a Permitted Acquisition, provided that (i) any
Indebtedness that is secured by such Liens is permitted to exist under Section 9.04(b)(vi)
and (ii) such Liens are not incurred in connection with, or in contemplation or anticipation
of, such Permitted Acquisition and do not attach to any other asset of the U.S. Borrower or
any of its Subsidiaries;

     (xiii) restrictions imposed in the ordinary course of business and consistent with past
practices on the sale or distribution of designated inventory pursuant to agreements with
customers under which such inventory is consigned by the customer or such inventory is
designated for sale to one or more customers;

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

     (xv) bankers’ liens, rights of setoff and other similar liens existing solely with
respect to cash and Cash Equivalents on deposit in one or more of the accounts described
below, in each case granted in the ordinary course of business in favor of the bank or banks
with which the accounts are maintained, securing amounts owing to such bank with respect to
cash management and operating account arrangements, including those involving pooled
accounts and netting arrangements, provided that in no case shall any such Liens
secure (either directly or indirectly) the repayment of any Indebtedness;

     (xvi) Liens securing Permitted Refinancing Indebtedness permitted pursuant to Section
9.04(b)(vii) to the extent such Liens comply with clause (b)(ii) of the definition of
Permitted Refinancing Indebtedness;

     (xvii) Liens on the assets of a Foreign Subsidiary (other than the Bermuda Partnership)
which is not a Foreign Credit Party securing Indebtedness incurred by such Foreign
Subsidiary in accordance with the terms of Section 9.04(b)(viii);

     (xviii) Liens over promissory notes evidencing grower loans pledged in favor of
financial institutions securing Indebtedness permitted to be incurred pursuant to clause (x)
of Section 9.04(b)(xix); and

     (xix) other Liens of the U.S. Borrower or any Subsidiary of the U.S. Borrower that (x)
were not incurred in connection with borrowed money, (y) do not materially impair the use of
such Property in the operation of the business of the U.S. Borrower or such Subsidiary and
(z) do not secure obligations in excess of $100,000,000 in the aggregate for all such Liens.

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In connection with the granting of Liens of the type described in clauses (iv), (ix), (x), (xi),
(xii), (xvi), (xvii) and (xix) of this Section 9.03 by the U.S. Borrower or any of its
Subsidiaries, the Administrative Agent and the Collateral Agent shall be authorized, at the request
of any Credit Agreement Party, to take any actions deemed appropriate by it in connection therewith
(including, without limitation, by executing appropriate lien releases or lien subordination
agreements in favor of the holder or holders of such Liens, in either case solely with respect to
the assets subject to such Liens).

          9.04 Indebtedness
.. (a) No Credit Agreement Party will, nor will permit any of its Subsidiaries to, contract,
create, incur, assume or suffer to exist (collectively, “incur”) any Indebtedness;
provided, however, that the U.S. Borrower and each Domestic Subsidiary of the U.S.
Borrower which is a U.S. Credit Party may incur Indebtedness (which may be guaranteed by any U.S.
Credit Party) so long as: (i) the Total Leverage Ratio at such time does not exceed 5.50:1.00; (ii)
the Senior Secured Leverage Ratio at such time does not exceed 3.00:1.00 (in each case, both
immediately prior to the incurrence of such Indebtedness and immediately after giving effect
thereto); and (iii) no Default or Event of Default then exists or would exist immediately after the
respective incurrence.

          (b) The foregoing limitations in Section 9.04(a) will not apply to the following (each, a
“Permitted Indebtedness”):

     (i) Indebtedness incurred pursuant to this Agreement and the other Credit Documents;

     (ii) Scheduled Existing Indebtedness outstanding on the Restatement Effective Date and
listed on Schedule IV, without giving effect to any subsequent extension, renewal or
refinancing thereof, except that Scheduled Existing Indebtedness may be refinanced through
one or more issuances of Permitted Refinancing Indebtedness in accordance with Section
9.04(b)(vii) below;

     (iii) Indebtedness of the Borrowers under Interest Rate Protection Agreements entered
into to protect them against fluctuations in interest rates in respect of Indebtedness
otherwise permitted under this Agreement;

     (iv) Capitalized Lease Obligations and Indebtedness of the U.S. Borrower and its
Subsidiaries representing purchase money Indebtedness secured by Liens permitted pursuant to
Section 9.03(xi), provided that the sum of (x) the aggregate Capitalized Lease
Obligations outstanding at any time plus (y) the aggregate principal amount of such
purchase money Indebtedness outstanding at any time shall not exceed $25,000,000;

     (v) intercompany Indebtedness of the U.S. Borrower and its Subsidiaries to the extent
permitted by Sections 9.05(vi) and (xvii);

     (vi) Indebtedness of a Subsidiary of the U.S. Borrower acquired pursuant to a Permitted
Acquisition (or Indebtedness assumed at the time of a Permitted Acquisition of an asset
securing such Indebtedness) (such Indebtedness, “Permitted Acquired Debt”),
provided that (x) such Indebtedness was not incurred in connection with, or in
anticipation or contemplation of, such Permitted Acquisition and (y) the aggregate principal

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amount of all Indebtedness outstanding pursuant to this Section 9.04(b)(vi) at any time
(exclusive of any such Indebtedness held by a Qualified Obligor which is not guaranteed by
the U.S. Borrower or any of its other Subsidiaries and is not secured by a Lien on any
Property of the U.S. Borrower or any of its Subsidiaries), when added to the aggregate
principal amount of Permitted Refinancing Indebtedness outstanding pursuant to Section
9.04(b)(vii) at any time (except to the extent incurred to refinance Scheduled Existing
Indebtedness or Permitted Acquired Debt held by a Qualified Obligor which is not guaranteed
by the U.S. Borrower or any of its other Subsidiaries and is not secured by a Lien on any
Property of the U.S. Borrower or any of its Subsidiaries and successive refinancings of the
foregoing), shall not exceed $50,000,000;

     (vii) Permitted Refinancing Indebtedness, so long as (x) no Specified Default or Event
of Default is in existence at the time of the incurrence of such Permitted Refinancing
Indebtedness and immediately after giving effect thereto and (y) the aggregate principal
amount of Permitted Refinancing Indebtedness outstanding pursuant to this Section
9.04(b)(vii) at any time (except to the extent incurred to refinance Scheduled Existing
Indebtedness or Permitted Acquired Debt held by a Qualified Obligor which is not guaranteed
by the U.S. Borrower or any of its other Subsidiaries and is not secured by a Lien on any
Property of the U.S. Borrower or any of its Subsidiaries and successive refinancings of the
foregoing), when added to the aggregate principal amount of Permitted Acquired Debt
outstanding pursuant to Section 9.04(b)(vi) at any time (exclusive of any such Indebtedness
held by a Qualified Obligor which is not guaranteed by the U.S. Borrower or any of its other
Subsidiaries and is not secured by a Lien on any Property of the U.S. Borrower or any of its
Subsidiaries), shall not exceed $50,000,000;

     (viii) Indebtedness of Foreign Subsidiaries of the U.S. Borrower (other than the
Bermuda Partnership) under lines of credit to any such Foreign Subsidiary from Persons other
than the U.S. Borrower or any of its Subsidiaries, the proceeds of which Indebtedness are
used for such Foreign Subsidiary’s working capital and other general corporate purposes,
provided that the aggregate principal amount of all such Indebtedness outstanding at
any time for all such Foreign Subsidiaries shall not exceed $50,000,000;

     (ix) [Reserved];

     (x) additional unsecured Indebtedness of the U.S. Borrower consisting of unsecured
guarantees by such Borrower of (x) obligations (which guaranteed obligations do not
themselves constitute Indebtedness) of one or more Wholly-Owned Subsidiaries of the U.S.
Borrower, (y) leases pursuant to which one or more Wholly-Owned Subsidiaries of the U.S.
Borrower are the respective lessees and (z) Indebtedness of Wholly-Owned Subsidiaries of the
U.S. Borrower of the type permitted pursuant to Section 9.04(b)(xiv);

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

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     (xii) Indebtedness in respect of (x) Other Hedging Agreements to the extent permitted
by clause (x) of Section 9.05(xii) and (y) Commodity Agreements to the extent permitted by
clause (y) of Section 9.05(xii);

     (xiii) (x) Indebtedness of the U.S. Borrower or any of its Subsidiaries evidenced by
completion guarantees and performance and surety bonds (but excluding appeal, performance
and other bonds and/or guaranties issued in respect of obligations arising in connection
with litigation) incurred in the ordinary course of business for purposes of insuring the
performance of the U.S. Borrower or such Subsidiary in an aggregate amount not to exceed
$50,000,000 at any time outstanding, (y) Indebtedness of the U.S. Borrower or any of its
Subsidiaries evidenced by appeal, performance and other bonds and/or guaranties issued in
respect of obligations arising in connection with litigation for purposes of insuring the
performance of the U.S. Borrower or such Subsidiary in an aggregate amount not to exceed
$50,000,000 at any time outstanding and (z) Indebtedness of the U.S. Borrower or any of its
Subsidiaries evidenced by appeal bonds and/or guaranties issued in respect of obligations
arising in connection with the European Commission Decision pending appeal by the U.S.
Borrower or such Subsidiaries of such decision in an aggregate amount not to exceed
€45,000,000 at any time outstanding;

     (xiv) Indebtedness of the U.S. Borrower or any Subsidiary of the U.S. Borrower arising
from agreements of the U.S. Borrower or a Subsidiary of the U.S. Borrower providing for
indemnification, adjustment of purchase price or other similar obligations, in each case,
incurred or assumed in connection with the disposition of any business, assets or a
Subsidiary of the U.S. Borrower permitted under this Agreement (other than guarantees of
Indebtedness incurred by any Person acquiring all or any portion of such business, assets or
Subsidiary for the purpose of financing such acquisition), provided that the maximum
assumable liability (as measured by the reserves reasonably established on such Person’s
financial statements) in respect of all such Indebtedness shall at no time exceed the gross
proceeds actually received by the U.S. Borrower and its Subsidiaries in connection with such
dispositions;

     (xv) unsecured Indebtedness of the U.S. Borrower evidenced by a guaranty of the
Indebtedness or other obligations of any other Person (including Indebtedness of Foreign
Subsidiaries permitted pursuant to Section 9.04(b)(viii) above), so long as the aggregate
amount of the Contingent Obligations of the U.S. Borrower pursuant to this Section
9.04(b)(xv) does not exceed $25,000,000 at any time;

     (xvi) (I) unsecured Indebtedness of the U.S Borrower incurred under the Existing 2011
Senior Notes and the Existing 2011 Senior Notes Indenture and of the U.S. Subsidiary
Guarantors (and so long as same remain U.S. Subsidiary Guarantors) under senior subordinated
guarantees of the obligations of the U.S. Borrower provided under the Existing 2011 Senior
Notes Documents to which they are a party, in an aggregate principal amount not to exceed
$200,000,000 (less the amount of any repayments of principal thereof after the Restatement
Effective Date), (II) unsecured Indebtedness of the U.S Borrower incurred under the Existing
2009 Senior Notes and the Existing 2009 Notes Indenture and of the U.S. Subsidiary Guarantors
(and so long as same remain U.S. Subsidiary Guarantors) under senior subordinated guarantees of
the obligations of the U.S. Borrower

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provided under the Existing 2009 Senior Notes Documents to which they are a party, in an
aggregate principal amount not to exceed $350,000,000 (less the amount of any repayments of
principal thereof after the Restatement Effective Date), (III) unsecured Indebtedness of the
U.S Borrower incurred under the Existing 2013 Senior Notes and the Existing 2013 Senior
Notes Indenture and of the U.S. Subsidiary Guarantors (and so long as same remain U.S.
Subsidiary Guarantors) under senior subordinated guarantees of the obligations of the U.S.
Borrower provided under the Existing 2013 Senior Notes Documents to which they are a party,
in an aggregate principal amount not to exceed $155,000,000 (less the amount of any
repayments of principal thereof after the Restatement Effective Date), (IV) unsecured
Indebtedness of the U.S Borrower incurred under Permitted Senior Notes and the other
Permitted Senior Notes Documents and of the U.S. Subsidiary Guarantors (and so long as same
remain U.S. Subsidiary Guarantors) under senior subordinated guarantees of the obligations
of the U.S. Borrower provided under the Permitted Senior Notes Documents to which they are a
party, so long as such Indebtedness is incurred in accordance with the requirements of the
definition of Permitted Senior Notes, (V) unsecured Indebtedness of the U.S Borrower
incurred under the Existing 2010 Senior Notes and the Existing 2010 Senior Notes Indenture
and of the U.S. Subsidiary Guarantors (and so long as same remain U.S. Subsidiary
Guarantors) under senior subordinated guarantees of the obligations of the U.S. Borrower
provided under the Existing 2010 Senior Notes Documents to which they are a party, in an
aggregate principal amount not to exceed $400,000,000 (less the amount of any repayments of
principal thereof after the Restatement Effective Date), and (VI) Indebtedness of the U.S
Borrower incurred under the Permitted Refinancing Senior Notes and the other Permitted
Refinancing Senior Notes Documents and of the U.S. Subsidiary Guarantors (and so long as
same remain U.S. Subsidiary Guarantors) under senior subordinated guarantees of the
obligations of the U.S. Borrower provided under the Permitted Refinancing Senior Notes
Documents to which they are a party, so long as such Indebtedness is incurred in accordance
with the requirements of the definition of Permitted Refinancing Senior Notes;

     (xvii) the U.S. Borrower and the U.S. Subsidiary Guarantors may incur and remain liable
with respect to the Indebtedness under the ABL Credit Agreement and the other ABL Credit
Documents; provided, however, that the aggregate principal amount of
Indebtedness thereunder shall not exceed (as measured on each date of incurrence pursuant to
this clause (xvii)) the greater of (I) $400,000,000 and (II) the sum of (x) 80% of the net
book value of the accounts receivable of the U.S. Borrower and its Domestic Subsidiaries and
(y) 60% of the net book value of the inventory of the U.S. Borrower and its Domestic
Subsidiaries, with any determinations pursuant to this clause (II) to be made on the date of
each incurrence of Indebtedness pursuant to this clause (II) based on the most recent
financial statements that are available to the U.S. Borrower;

     (xviii) Indebtedness of Foreign Subsidiaries of the U.S. Borrower under bank guaranties
and letters of credit issued by financial institutions (on behalf of such Foreign
Subsidiaries) in an aggregate amount not to exceed $50,000,000 at any time;

     (xix) (x) Indebtedness of Foreign Subsidiaries incurred in connection with grower loan
programs in an aggregate principal amount not to exceed $50,000,000 at any time outstanding
and (y) unsecured Indebtedness of the U.S. Borrower evidenced by a

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guaranty of Indebtedness permitted pursuant to preceding subclause (x) of this Section 9.04(b)(xix);

     (xx) Indebtedness of the U.S. Borrower or any of its Subsidiaries incurred in
connection with vehicle inventory loans in an aggregate principal amount not to exceed
$5,000,000 at one time outstanding;

     (xxi) Indebtedness of the U.S. Borrower which may be deemed to exist under its
non-qualified excess savings plan for employees;

     (xxii) [Reserved]; and

     (xxiii) additional unsecured Indebtedness of the U.S. Borrower and its Subsidiaries
(other than the Bermuda Partnership Partners and the Bermuda Partnership) not otherwise
permitted hereunder not exceeding $100,000,000 in aggregate principal amount at any time
outstanding, provided that no such additional Indebtedness shall be incurred at any
time a Default or Event of Default then exists or would result therefrom.

          9.05 Advances; Investments; Loans. No Credit Agreement Party will, nor will permit any of its Subsidiaries to, directly or
indirectly, lend money or extend credit or make advances to any Person, or purchase or acquire any
stock, obligations or securities of, or any other Equity Interest in, or make any capital
contribution to, any Person, or purchase or own a futures contract or otherwise become liable for
the purchase or sale of currency or other commodities at a future date in the nature of a futures
contract, or hold any cash or Cash Equivalents (each of the foregoing an “Investment” and,
collectively, “Investments”), except:

     (i) the U.S. Borrower and its Subsidiaries may acquire and hold cash and Cash
Equivalents;

     (ii) the U.S. Borrower and its Subsidiaries may acquire and hold receivables owing to
it, if created or acquired in the ordinary course of business and payable or dischargeable
in accordance with customary trade terms (including the dating of receivables) of the U.S.
Borrower or such Subsidiary;

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

     (iv) Interest Rate Protection Agreements entered into in compliance with Section
9.04(b)(iii) shall be permitted;

     (v) (x) Investments constituting Intercompany Scheduled Existing Indebtedness in
existence on the Restatement Effective Date (and any refinancings thereof permitted pursuant
to Section 9.04(b)(vii) and consistent with the definition of Permitted Refinancing
Indebtedness) and (y) such other Investments in existence on the Restatement Effective Date
and listed on Schedule VI (without giving effect to any additions thereto or

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replacements thereof); provided that any additional Investments made with respect to the
Investments described in preceding subclause (y) of this Section 9.05(v) shall be permitted
only if independently justified under the other provisions of this Section 9.05;

     (vi) (u) Qualified U.S. Obligors may make intercompany loans to each other, (v)
Qualified Non-U.S. Obligors may make intercompany loans to each other, (w) Qualified U.S.
Obligors may make intercompany loans to any Qualified Non-U.S. Obligor, (x) Qualified
Obligors and Foreign Subsidiary Guarantors that are not Qualified Obligors may make
intercompany loans to any Foreign Subsidiary of the U.S. Borrower that is not a Qualified
Obligor, (y) any Wholly-Owned Foreign Subsidiary of the U.S. Borrower may make intercompany
loans to any Qualified Obligor and (z) Non-Guarantor Subsidiaries may make intercompany
loans to each other and to any Foreign Credit Party, provided that (I) unless the respective
obligor under such intercompany loan reasonably determines that the execution, delivery and
performance of an Intercompany Note is prohibited by, or that such Intercompany Note would
not be enforceable against such obligor under, applicable local law, any such intercompany
loan made pursuant to this Section 9.05(vi) (other than any such loan made to a Non-Wholly
Owned Subsidiary) shall be evidenced by an Intercompany Note, (II) at no time shall the
aggregate outstanding principal amount of all such intercompany loans made pursuant to
subclause (w) of this Section 9.05(vi) above (exclusive of loans made to Qualified Non-U.S.
Obligors which are promptly on-lent by such Qualified Non-U.S. Obligors to Foreign
Subsidiaries that are not Qualified Obligors in reliance on subclause (x) above), when added
to the aggregate amount of capital contributions made pursuant to (and in reliance on)
Section 9.05(viii)(y) (for this purpose, taking the Fair Market Value of any Property (other
than cash) so contributed at the time of such contribution), exceed $200,000,000 (determined
without regard to write-downs or write-offs thereof), (III) at no time shall the aggregate
outstanding principal amount of all such intercompany loans made pursuant to subclause (x)
of this Section 9.05(vi) above (determined without regard to write-downs or write-offs
thereof), when added to the aggregate amount of capital contributions made pursuant to (and
in reliance on) Section 9.05(viii)(z) (for this purpose, taking the Fair Market Value of any
Property (other than cash) so contributed at the time of such contribution), exceed
$150,000,000, (IV) no intercompany loans may be made pursuant to subclause (w) or (x) of
this Section 9.05(vi) at any time any Specified Default or any Event of Default is in
existence (or would be in existence after giving effect thereto), (V) subject to the
exception specified in the proviso to Section 9.01(f), each intercompany loan made pursuant
to this Section 9.05(vi) shall be subject to subordination as, and to the extent required
by, the Intercompany Subordination Agreement and (VI) any intercompany loans made pursuant
to this Section 9.05(vi) shall cease to be permitted
hereunder if the obligor or obligee thereunder ceases to constitute a Qualified Obligor
or a Foreign Subsidiary of the U.S. Borrower as contemplated above;

     (vii) (x) loans by the U.S. Borrower and its Subsidiaries to officers, employees and
directors of the U.S. Borrower and its Subsidiaries for bona fide business purposes, in each
case incurred in the ordinary course of business, in an aggregate outstanding principal
amount not to exceed $5,000,000 at any time outstanding (determined without regard to any
write-downs or write-offs of such loans and advances) shall be permitted and (y) advances of
reimbursable expenses by the U.S. Borrower and its Subsidiaries to offic-

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ers, employees and directors of the U.S. Borrower and its Subsidiaries for bona fide purposes,
in each case incurred in the ordinary course of business;

     (viii) (u) any Wholly-Owned Foreign Subsidiary of the U.S. Borrower may make capital
contributions to any Qualified Obligor, (v) any Qualified U.S. Obligor may make capital
contributions to any of its direct Wholly-Owned Subsidiaries that is a Qualified U.S.
Obligor, (w) any Qualified Non-U.S. Obligor may make capital contributions to any of its
direct Wholly-Owned Subsidiaries that is a Qualified Non-U.S. Obligor, (x) any Non-Guarantor
Subsidiary may make capital contributions to any of its direct Wholly-Owned Subsidiaries
that is a Non-Guarantor Subsidiary or a Foreign Credit Party, (y) any Qualified U.S. Obligor
may make capital contributions to any of its direct Wholly-Owned Subsidiaries that is
Qualified Non-U.S. Obligor and (z) any Qualified Obligor and any Foreign Subsidiary
Guarantor that is not a Qualified Obligor may make capital contributions to any of their
respective direct Foreign Subsidiaries that is not a Qualified Obligor; provided that (I) at
no time shall the aggregate amount of the capital contributions made pursuant to subclause
(y) of this Section 9.05(viii) (for this purpose, (1) taking the Fair Market Value of any
Property (other than cash) so contributed at the time of such contribution and (2) excluding
capital contributions made to a Qualified Non-U.S. Obligor which are promptly contributed,
in turn, to a Foreign Subsidiary of such Qualified Non-U.S. Obligor that is not a Qualified
Obligor in reliance on subclause (z) above), when added to the aggregate outstanding
principal amount of all intercompany loans made pursuant to subclause (w) of Section
9.05(vi) above (determined without regard to write-downs or write-offs thereof), exceed
$200,000,000, (II) at no time shall the aggregate amount of the capital contributions made
pursuant to subclause (z) of this Section 9.05(viii) (for this purpose, taking the Fair
Market Value of any Property (other than cash) so contributed at the time of such
contribution), when added to the aggregate outstanding principal amount of all intercompany
loans made pursuant to subclause (x) of Section 9.05(vi) above (determined without regard to
write-downs or write-offs thereof), exceed $150,000,000 and (III) no contributions may be
made pursuant to subclause (y) or (z) of this Section 9.05(viii) at any time any Specified
Default or any Event of Default is in existence (or would be in existence after giving
effect thereto);

     (ix) the Borrowers and the Subsidiary Guarantors may make Permitted Acquisitions in
accordance with the relevant requirements of Section 8.15 and the component definitions
therein;

     (x) the U.S. Borrower and its Subsidiaries may own the capital stock of, or other
Equity Interests in, their respective Subsidiaries created or acquired in accordance with
the terms of this Agreement;

     (xi) the U.S. Borrower and its Subsidiaries may acquire and hold non-cash consideration
issued by the purchaser of assets in connection with a sale of such assets to the extent
permitted by Sections 9.02(v), (xiv) and (xviii);

     (xii) the U.S. Borrower and its Subsidiaries may enter into (x) Other Hedging
Agreements in the ordinary course of business providing protection against fluctuations in
currency values in connection with the operations of the U.S. Borrower or any of its

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Subsidiaries and (y) Commodity Agreements in the ordinary course of business providing
protection against fluctuations in prices of commodities used in the operations of the U.S.
Borrower and its Subsidiaries, in each case, so long as management of the U.S. Borrower or
such Subsidiary, as the case may be, has determined in good faith that the entering into of
such Other Hedging Agreements or Commodity Agreements, as the case may be, are bona
fide hedging activities and are not for speculative purposes;

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

     (xiv) loans or advances by any Subsidiary of the U.S. Borrower in connection with
grower loan programs; provided that (I) at no time shall the aggregate outstanding principal
amount of all such loans and advances made pursuant to this Section 9.05(xiv) exceed
$75,000,000 (determined without regard to write-downs or write-offs thereof), (II) no loans
or advances may be made pursuant to this Section 9.05(xiv) at any time any Specified Default
or any Event of Default is in existence (or would be in existence after giving effect
thereto), and (III) in the event a loan or advance made by a Credit Party pursuant to this
Section 9.05(xiv) is evidenced by a promissory note, such promissory note shall be pledged
to the Collateral Agent pursuant to the relevant Security Document (except to the extent
local law or the relevant grower loan documents prohibit such pledge or such note is
required to be pledged to secure Indebtedness incurred pursuant to clause (x) of Section
9.04(b)(xix));

     (xv) so long as no Default or Event of Default then exists or would result therefrom,
the U.S. Borrower and its Subsidiaries may acquire Equity Interests in Persons (who, after
giving effect to such acquisition, become Non-Wholly Owned Subsidiaries of the U.S. Borrower
or such Subsidiary); provided that the aggregate amount of the Investments made
pursuant to this Section 9.05(xv) after the Restatement Effective Date shall not exceed
$50,000,000 (without regard to any write-downs or write-offs thereof);

     (xvi) any Non-Wholly Owned Subsidiary of the U.S. Borrower may make loans to its
shareholders generally so long as (x) the U.S. Borrower or its respective
Subsidiary which owns the Equity Interest in the Subsidiary making such loans receives
at least its proportionate share of such loans (based upon its relative holding of the
Equity Interests in the Subsidiary making such loans), (y) unless the entering into of the
Intercompany Subordination Agreement requires the consent of the minority shareholder of
such Non-Wholly Owned Subsidiary (and such consent is not obtained), such Non-Wholly-Owned
Subsidiary (as obligee of such loan) and the U.S. Borrower or such other Subsidiary (as
obligor of such loan) shall be subject to the provisions of the Intercompany Subordination
Agreement and (z) the aggregate outstanding principal amount of all loans pursuant to this
Section 9.05(xvi) which are not subject to the subordination provisions of the Intercompany
Subordination Agreement shall not exceed $50,000,000 at any time;

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     (xvii) Investments constituting guaranties permitted by Section 9.04;

     (xviii) the Bermuda Partnership Partners may make additional Investments in the Bermuda
Partnership not otherwise permitted by this Section, so long as (w) the Bermuda Partnership
promptly (and in any event within one Business Day of receipt thereof) uses 100% of the cash
proceeds of such Investment to make a prepayment on the intercompany loan owing by it to the
Bermuda Borrower and incurred pursuant to the Intercompany Distribution Transactions, (x)
the Bermuda Borrower uses all of the proceeds of such prepayment within one Business Day of
the date of receipt thereof to prepay Term Loans owing by it in accordance with the
requirements of Section 4.01(vii), (y) if any U.S. Borrower Incremental Term Loans are then
outstanding, the U.S. Borrower makes a concurrent prepayment of U.S. Borrower Incremental
Term Loans in accordance with the requirements of Section 4.01(vii) and (z) any Investment
in the form of an intercompany loan or advance pursuant to this Section 9.05(xviii) shall be
subject to subordination as, and to the extent required by, the Intercompany Subordination
Agreement; and

     (xix) so long as no Default or Event of Default then exists or would result therefrom,
the U.S. Borrower and its Subsidiaries may make Investments not otherwise permitted by
Sections 9.05(i) through (xviii); provided that the aggregate amount of the
Investments made pursuant to this Section 9.05(xix) after the Restatement Effective Date
shall not exceed $100,000,000 (without regard to any write-downs or write-offs thereof).

          9.06 Restricted Payments; etc. No Credit Agreement Party will, nor will permit any of its Subsidiaries to, declare or pay
any dividends (other than dividends payable solely in non-redeemable common stock or comparable
common equity interests of the U.S. Borrower or any such Subsidiary, as the case may be) or return
any equity capital to, its stockholders, partners, members or other equity holders or authorize or
make any other distribution, payment or delivery of property or cash to its stockholders, partners,
members or other equity holders as such, or redeem, retire, purchase or otherwise acquire, directly
or indirectly, for a consideration, any shares of any class of its capital stock or other Equity
Interests, now or hereafter outstanding (or any warrants for or options or stock appreciation
rights in respect of any of such shares or other Equity Interests), or set aside any funds for any
of the foregoing purposes, and no Credit Agreement Party will permit
any of its Subsidiaries to purchase or otherwise acquire for a consideration any shares of any
class of the capital stock or other Equity Interests of any direct or indirect parent of such
Subsidiary now or hereafter outstanding (or any options or warrants or stock appreciation rights
issued by such Person with respect to its capital stock or other Equity Interests) (all of the
foregoing “Dividends”) or make any payments in respect of any outstanding Intercompany
Debt, except that:

     (i) (x) any Subsidiary of the U.S. Borrower may pay Dividends to the U.S. Borrower or
any Wholly-Owned Subsidiary of the U.S. Borrower and (y) any non-Wholly-Owned Subsidiary of
the U.S. Borrower may pay cash Dividends to its shareholders generally so long as the U.S.
Borrower or its respective Subsidiary which owns the Equity Interest in the Subsidiary
paying such Dividends receives at least its proportionate share thereof (based upon its
relative holding of the Equity Interests in the Subsidiary paying such Dividends and taking
into account the relative preferences, if any, of the various classes of Equity Interests of
such Subsidiary); provided that any Dividend made

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pursuant to preceding clause (x)
to any Wholly-Owned Subsidiary that is not a Credit Party may only be made if (A) (I) no
Specified Default and no Event of Default then exists or would result therefrom and (II)
such Wholly-Owned Subsidiary promptly distributes and/or transfer any Property received
pursuant to such Dividend (directly or indirectly through other Wholly-Owned Subsidiaries)
to a Credit Party or (B) the Subsidiary making such Dividend is not a Credit Party;
provided, however, that, subject to Section 9.01(c)(v), any such Dividend
may be made to the Bermuda Partnership notwithstanding the existence of an Event of Default
(other than an Event of Default under Section 10.01 or 10.05) so long as (a) the Bermuda
Partnership complies with clause (II) of the preceding proviso and (b) the Bermuda
Partnership Partners are (after giving effect to the receipt of any Dividend from Bermuda
Partnership) in compliance with the requirements of Section 9.01(c);

     (ii) the U.S. Borrower may redeem or purchase shares of, or options to purchase, U.S.
Borrower Common Stock held by former officers or employees of the U.S. Borrower or any of
its Subsidiaries following the death, disability, retirement or termination of employment of
such officers or employees, provided that (x) the only consideration paid by the
U.S. Borrower in respect of such redemptions and/or purchases shall be cash, (y) the
aggregate amount paid by the U.S. Borrower in cash in respect of all such redemptions and/or
purchases shall not exceed $2,000,000 in any Fiscal Year of Holdings, and (z) at the time of
any redemption or purchase pursuant to this Section 9.06(ii), no Specified Default or Event
of Default shall then exist or result therefrom;

     (iii) [Reserved];

     (iv) [Reserved];

     (v) [Reserved];

     (vi) the U.S. Borrower and its Subsidiaries may make payments with respect to
Intercompany Debt, so long as the respective payment is permitted to be made in accordance
with the terms of the Intercompany Subordination Agreement;

     (vii) [Reserved];

     (viii) the U.S. Borrower may pay regularly scheduled Dividends on Qualified Preferred
Stock issued by it pursuant to the terms thereof solely through the issuance of additional
shares of such Qualified Preferred Stock rather than in cash;

     (ix) [Reserved];

     (x) [Reserved];

     (xi) so long as no Default and no Event of Default then exists or would result
therefrom, any Existing Senior Notes, any Permitted Senior Notes and any Permitted
Refinancing Senior Notes may be refinanced with any Permitted Refinancing Senior Notes in
accordance with the requirements of this Agreement;

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     (xii) so long as no Specified Default and no Event of Default then exists or would
result therefrom, any Scheduled Existing Indebtedness, any Permitted Acquired Debt and any
Permitted Refinancing Indebtedness incurred to refinance same may be refinanced with
Permitted Refinancing Indebtedness in accordance with the requirements of this Agreement
and, so long as no Event of Default has occurred and is continuing or would result
therefrom, the Existing Senior Notes and any Permitted Refinancing Senior Notes may be
exchanged for Equity Interests of the U.S. Borrower permitted by Section 9.09(a);

     (xiii) in addition to the actions permitted above, the U.S. Borrower and its
Subsidiaries may make Investments (and, without duplication, may repurchase or redeem (so
long as any repurchased Indebtedness is promptly cancelled) any Indebtedness otherwise
described in Section 9.08(a)(i)) so long as (I) no Default or Event of Default then exists
or would result therefrom, (II) the aggregate amount of cash expended pursuant to this
Section 9.06(xiii) to effect such Investments after the Restatement Effective Date does not
exceed the sum of (x) $50,000,000 and (y) the aggregate amount of Retained Excess Cash Flow
Amount at the time such Investment is made and (III) to the extent any such Investment (or
any part thereof) is made in reliance on preceding clause (II)(y), calculations are made by
the U.S. Borrower of compliance with Section 9.04(a) (regardless of whether any Indebtedness
is then being incurred pursuant to said Section 9.04(a)) for the Calculation Period most
recently ended prior to the date of the respective repurchase or redemption (determined on a
Pro Forma Basis after giving effect to such Investment and the incurrence of any
Indebtedness to finance same), as set forth in a certificate by an Authorized Officer of the
U.S. Borrower furnished to the Administrative Agent on the date of such Investment, and such
calculations shall show that, after giving effect to the respective Investment (and any
other contemporaneous Investments) and any Indebtedness being incurred in connection
therewith, the U.S. Borrower would be permitted to incur at least $1 of additional
Indebtedness pursuant to Section 9.04(a) at such time; provided that, to the extent
that such Investments constitute redemptions and/or repurchases of Existing Senior Notes,
Permitted Senior Notes and/or Permitted Refinancing Senior Notes from time to time (whether
redeemed in accordance with the terms of the indenture therefor and/or
repurchased on the open market), all such Existing Senior Notes, Permitted Senior Notes
or Permitted Refinancing Senior Notes, as the case may be, so repurchased or redeemed are
promptly cancelled by the U.S. Borrower; and

     (xiv) in addition to the actions permitted above, the U.S. Borrower and its
Subsidiaries may make Investments in (and, without duplication, may repurchase or redeem)
any Existing 2009 Senior Notes or Existing 2010 Senior Notes so long as (I) no Default or
Event of Default then exists or would result therefrom, (II) the aggregate amount of cash
expended pursuant to this Section 9.06(xiv) to effect such Investments after the Restatement
Effective Date does not exceed $50,000,000, (III) after giving effect to such Investments,
redemptions and repurchases, the U.S. Borrower (A) would be in compliance on a pro forma
basis with Section 9.13 as of the last day of the most recently completed Test Period for
which financial statements are available and (B) has not less than $70,000,000 of unutilized
ABL Commitments and (IV) all such Existing 2009 Senior Notes or Existing 2010 Senior Notes
so repurchased or redeemed are promptly cancelled by the U.S. Borrower.

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          9.07 Transactions with Affiliates. No Credit Agreement Party will, nor will permit any of its Subsidiaries to, enter into any
transaction or series of transactions with any Affiliate of the U.S. Borrower or any of its
Subsidiaries other than in the ordinary course of business and on terms and conditions
substantially as favorable to such Credit Agreement Party or such Subsidiary as would be reasonably
expected to be obtainable by such Credit Agreement Party or such Subsidiary at the time in a
comparable arm’s-length transaction with a Person other than an Affiliate; provided that
the following shall in any event be permitted: (i) the Transaction; (ii) intercompany transactions
among the U.S. Borrower and its Subsidiaries to the extent expressly permitted by Sections 9.02,
9.04, 9.05 and 9.06; (iii) the payment of consulting or other fees to the U.S. Borrower by any of
its Subsidiaries in the ordinary course of business; (iv) customary fees to non-officer directors
of the U.S. Borrower and its Subsidiaries; (v) the U.S. Borrower and its Subsidiaries may enter
into the employment arrangements with respect to the procurement of services with their respective
officers and employees in the ordinary course of business; (vi) Dividends may be paid by the U.S.
Borrower to the extent permitted by Section 9.06; (vii) the payment of customary fees (excluding
management fees) to the Agents and their Affiliates for services rendered (including, without
limitation, any underwriting discounts and commissions); (viii) transactions between the U.S.
Borrower and/or any of its Subsidiaries and their respective Affiliates listed on Schedule XIV
hereto; and (ix) the California Disposition and any loan of all or a portion of the Net Sale
Proceeds therefrom to an Affiliate of the U.S. Borrower, so long as (and only so long as) such
transactions would not (in the absence of this clause (ix) and, for such purpose, assuming same
were in the “ordinary course of business”) give rise to a violation of this Section 9.07. In no
event shall any management, consulting or similar fee be paid or payable by the U.S. Borrower or
any of its Subsidiaries to any Affiliate (other than any other Credit Party), except as
specifically provided in this Section 9.07.

          9.08 Limitation on Voluntary Payments and Modifications of Indebtedness; Modifications of
Certificate of Incorporation, By-Laws and Certain Other Agreements; Issuances of Capital Stock;
etc. (a) No Credit Agreement Party will, and no Credit Agreement Party will permit any of its
Subsidiaries to:

     (i) make (or give any notice in respect of) any voluntary or optional payment or
prepayment on or redemption, repurchase or acquisition for value of (including, without
limitation, by way of depositing with the trustee with respect thereto or any other Person
money or securities before due for the purpose of paying when due), or any prepayment,
repurchase, redemption or acquisition for value as a result of any asset sale, change of
control or similar event of any Existing Indebtedness or, after the incurrence or issuance
thereof, any Permitted Refinancing Indebtedness, any Qualified Preferred Stock, any
Permitted Acquired Debt, any Permitted Senior Note or any Permitted Refinancing Senior Note,
except to the extent expressly permitted under Sections 9.06(xi), (xii), (xiii) and/or
(xiv), in the case of Permitted Acquired Debt, required by Section 8.11(h);

     (ii) amend or modify, or permit the amendment or modification of, any provision of any
Existing Senior Notes Document or, on and after the execution and delivery thereof, any
Permitted Senior Notes Document and any Permitted Refinancing Senior Notes Document, in any
such case other than any technical or clarifying amendments, modifications or changes to any
such Documents that are not in any way adverse to the

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interests of the Lenders and do not relate to the subordination provisions contained therein; or

     (iii) amend, modify or change any Permitted Acquired Debt, any Permitted Refinancing
Indebtedness, any Tax Allocation Agreement, any Management Agreement, any Qualified
Preferred Stock, its certificate of incorporation (including, without limitation, by the
filing or modification of any certificate of designation), by-laws, certificate of
partnership, partnership agreement, certificate of limited liability company, limited
liability company agreement (or equivalent organizational documents) or any agreement
entered into by it, with respect to its capital stock or other Equity Interests, or enter
into any new Tax Allocation Agreement, Management Agreement or agreement with respect to its
capital stock or other Equity Interests, other than (A) any change to Permitted Acquired
Debt or Permitted Refinancing Indebtedness as a result of the refinancing thereof as
permitted by Section 9.08(a), (B) any amendments or modifications to Permitted Refinancing
Debt or Qualified Preferred Stock consistent with the definitions thereof provided herein
and (C) any amendments, modifications or changes pursuant to this Section 9.08(a) and any
such new agreements pursuant to this Section 9.08(a), (x) which do not adversely affect the
interests of the Lenders in any material respect, (y) in the case of any Management
Agreement, which does not involve the payment by the U.S. Borrower or any of its
Subsidiaries of any amount which could give rise to a violation of this Agreement and (z)
any amendment to such Person’s respective certificates of incorporation or other
organizational documents to authorize the issuance of capital stock or other Equity
Interests otherwise permitted to be issued pursuant to the terms of this Agreement.

          (b) Neither the U.S. Borrower nor any of its Subsidiaries shall designate any Indebtedness
(other than the Obligations) as “Designated Guarantor Senior Debt” or “Designated Senior Debt” for
purposes of the Existing Senior Notes Documents or, on and after the execution
and delivery thereof, the Permitted Senior Notes Documents and the Permitted Refinancing
Senior Notes Documents.

          9.09 Limitation on Issuance of Equity Interests. (a) The U.S. Borrower will not issue (i) any Preferred Equity (or any options, warrants or
rights to purchase Preferred Equity) (other than Qualified Preferred Stock issued pursuant to
clause (c) below) or (ii) any redeemable common stock or equivalent common Equity Interests.

          (b) The U.S. Borrower shall not permit any of its Subsidiaries to, issue any capital stock or
other Equity Interests (including by way of sales of treasury stock), except (i) for transfers and
replacements of then outstanding shares of capital stock or other Equity Interests, (ii) for stock
splits, stock dividends and additional issuances which do not decrease the aggregate percentage
ownership of the U.S. Borrower and its Subsidiaries in any class of the capital stock or other
Equity Interests of such Subsidiaries, (iii) in the case of Foreign Subsidiaries of the U.S.
Borrower, to qualify directors to the extent required by applicable law, (iv) Subsidiaries formed
after the Initial Borrowing Date pursuant to Section 9.11 (or Section 9.14 of the Original Credit
Agreement) may issue capital stock or other Equity Interests in accordance with the requirements of
Section 9.11 (or, for periods prior to the Restatement Effective Date, Section 9.14 of the Original
Credit Agreement) and (v) issuances of Equity Interests (including Preferred Equity) by any
Wholly-Owned Subsidiary of the U.S. Borrower to one or more other Wholly-Owned Subsidiar-

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ies of the U.S. Borrower. All capital stock or other Equity Interests issued in accordance with this Section
9.09(b) shall, to the extent required by the relevant Security Document, be delivered to the
Collateral Agent for pledge pursuant to such Security Document.

          (c) The U.S. Borrower may from time to time (i) issue Qualified Preferred Stock, so long as
(x) no Default or Event of Default shall exist at the time of any such issuance or immediately
after giving effect thereto, and (y) with respect to each issuance of Qualified Preferred Stock,
the gross cash proceeds therefrom (or in the case of Qualified Preferred Stock directly issued as
consideration for a Permitted Acquisition, the Fair Market Value thereof of the assets received
therefor) shall be at least equal to 100% of the liquidation preference thereof at the time of
issuance, and (ii) issue additional shares of Qualified Preferred Stock to pay in kind regularly
scheduled Dividends on Qualified Preferred Stock theretofore issued in compliance with this Section
9.09(c).

          9.10 Limitation on Certain Restrictions on Subsidiaries. No Credit Agreement Party will, nor will permit any of its Subsidiaries to, directly or
indirectly, create or otherwise cause or suffer to exist or become effective, any encumbrance or
restriction on the ability of any such Subsidiary to (x) pay dividends or make any other
distributions on its capital stock or any other Equity Interests or participation in its profits
owned by the U.S. Borrower or any Subsidiary of the U.S. Borrower, or pay any Indebtedness owed to
the U.S. Borrower or a Subsidiary of the U.S. Borrower, (y) make loans or advances to the U.S.
Borrower or any Subsidiary of the U.S. Borrower or (z) transfer any of its properties or assets to
the U.S. Borrower or any of its Subsidiaries, except for such encumbrances or restrictions existing
under or by reason of (i) applicable law, (ii) this
Agreement and the other Credit Documents, (iii) customary provisions restricting subletting or
assignment of any lease governing a leasehold interest of the U.S. Borrower or a Subsidiary of the
U.S. Borrower, (iv) customary provisions restricting assignment of any licensing agreement (in
which the U.S. Borrower or any of its Subsidiaries is the licensee) or any other contract entered
into by the U.S. Borrower or any Subsidiary of the U.S. Borrower in the ordinary course of
business, (v) any agreement or instrument governing Permitted Acquired Debt, which encumbrance or
restriction is not applicable to any Person or the properties or assets of any Person, other than
the Person or the properties or assets of the Person acquired pursuant to the respective Permitted
Acquisition and so long as the respective encumbrances or restrictions were not created (or made
more restrictive) in connection with or in anticipation of the respective Permitted Acquisition,
(vi) restrictions applicable to any Non-Wholly Owned Subsidiary existing at the time of the
acquisition thereof as a result of an Investment pursuant to Section 9.05 or a Permitted
Acquisition effected in accordance with Section 8.15; provided that the restrictions
applicable to such joint venture are not made more burdensome, from the perspective of the U.S.
Borrower and its Subsidiaries, than those as in effect immediately before giving effect to the
consummation of the respective Investment or Permitted Acquisition, (vii) any restriction or
encumbrance with respect to assets subject to Liens permitted by Sections 9.03(iv), (x), (xi),
(xii) and (xvi), (viii) the Existing 2011 Senior Notes Documents, (ix) the Existing 2010 Senior
Notes Documents, (x) the Existing 2009 Senior Notes Documents, (xi) the Existing 2013 Senior Notes
Documents, (xii) the ABL Credit Documents, (xiii) on and after the execution and delivery thereof,
the Permitted Senior Notes Documents, and (xiv) on and after the execution and delivery thereof,
the Permitted Senior Refinancing Notes Documents.

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          9.11 Limitation on the Creation of Subsidiaries and Joint Ventures. (a) Except as
otherwise specifically provided in immediately succeeding clause (b), the
U.S. Borrower will not, and will not permit any of its Subsidiaries to, establish, create or
acquire after the Initial Borrowing Date any Subsidiary, provided that the U.S. Borrower
and its Wholly-Owned Subsidiaries shall be permitted to establish or create Wholly-Owned
Subsidiaries so long as (A) within 15 Business Days (or such longer period as is acceptable to the
Administrative Agent in any given case) of such establishment, creation or acquisition, as the case
may be, written notice thereof is given to the Administrative Agent (provided that no such
notice shall be required to be given (x) in the case of a Shell Corporation or (y) in the case of a
Foreign Subsidiary entitled to defer the taking of actions otherwise required by this Section
9.11(a) as a result of the application of clause (z) of the immediately succeeding proviso), (B)
subject to Sections 8.11(d) and 8.12, the Equity Interests of each such new Wholly-Owned Subsidiary
(if same is an Unrestricted Subsidiary) are pledged pursuant to, and to the extent required by, the
applicable Pledge Agreements and/or Foreign Security Agreements and, if such Equity Interests
constitute certificated Equity Interests, the certificates representing such Equity Interests,
together with stock or other powers duly executed in blank, are delivered to the Collateral Agent
for the benefit of the Secured Creditors, (C) to the extent such new Wholly-Owned Subsidiary is
required, in accordance with the applicable provisions of Section 8.11, to become a U.S. Subsidiary
Guarantor, (i) such new Wholly-Owned Subsidiary executes and delivers counterparts of the U.S.
Subsidiaries Guaranty, the Intercompany Subordination Agreement, the Intercreditor Agreement and
such Security Documents as would have been entered into by the respective Subsidiary if same had
been a U.S. Subsidiary Guarantor under the Original Credit Agreement on the Initial Borrowing Date,
and takes all action in connection
therewith as would otherwise have been required to be taken pursuant to Section 5 of the
Original Credit Agreement if such new Wholly-Owned Subsidiary had been a U.S. Credit Party under
the Original Credit Agreement on the Initial Borrowing Date, (D) to the extent such new
Wholly-Owned Subsidiary is organized in a Qualified Non-U.S. Jurisdiction and is required, in
accordance with the applicable provisions of Section 8.11, to become a Foreign Subsidiary
Guarantor, (i) such new Wholly-Owned Subsidiary executes and delivers counterparts of the Foreign
Subsidiaries Guaranty, the Intercompany Subordination Agreement and such Security Documents as
would have been entered into by the respective Subsidiary if same had been a Foreign Subsidiary
Guarantor under the Original Credit Agreement on the Initial Borrowing Date (determined in
accordance with the criteria described in Sections 5.15, 5.17 and 5.18(b) of the Original Credit
Agreement), and takes all action in connection therewith as would otherwise have been required to
be taken pursuant to Section 5 of the Original Credit Agreement if such new Wholly-Owned Subsidiary
had been a Foreign Credit Party under the Original Credit Agreement on the Initial Borrowing Date,
(E) to the extent such new Wholly-Owned Subsidiary is organized in a Non-Qualified Jurisdiction and
is required, in accordance with the applicable provisions of Section 8.11, to become a Foreign
Subsidiary Guarantor, (i) such new Wholly-Owned Subsidiary executes and delivers counterparts of
the Foreign Subsidiaries Guaranty and, in each case unless the Administrative Agent otherwise
agrees based on advice of local counsel, the Int
ercompany Subordination Agreement and such Security
Documents as would have been entered into by the respective Subsidiary if same had been a Foreign
Subsidiary Guarantor under the Original Credit Agreement organized in such Non-Qualified
Jurisdiction on the Initial Borrowing Date (determined in accordance with the criteria described in
Sections 5.15, 5.17 and 5.18(b) of the Original Credit Agreement), and takes all action in
connection therewith as would otherwise have been required to be taken pursuant to Section 5 of the
Origi-

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nal Credit Agreement if such new Wholly-Owned Subsidiary had been a Foreign Credit Party under
the Original Credit Agreement organized in such Non-Qualified Jurisdiction on the Initial Borrowing
Date and (F) such new Wholly-Owned Subsidiary, to the extent requested by any Agent or the Required
Lenders, takes all other actions required pursuant to Section 8.11 (including, without limitation,
to, at its own expense, execute, acknowledge and deliver, or cause the execution, acknowledgment
and delivery of, and thereafter register, file or record in any appropriate governmental office,
any document or instrument reasonably deemed by the Collateral Agent to be necessary or desirable
for the creation and perfection of the Liens on its assets intended to be created pursuant to the
applicable Security Documents); provided that (x) the Credit Documents required to be
executed and delivered pursuant to clauses (C), (D) and (E) by such newly formed, created or
acquired Subsidiary shall not be required to be so executed and delivered until 45 days after the
formation, creation or acquisition of such Subsidiary, (y) in the case of a Shell Corporation
created or established by the U.S. Borrower or any of its Wholly-Owned Subsidiaries, the actions
described in clauses (B), (C), (D) and (E) and applicable to such Shell Corporation shall not be
required to be taken (so long as same remains a Shell Corporation) until 60 days after the creation
or establishment of such Shell Corporation and (z) in the case of a newly-formed Wholly-Owned
Subsidiary of the U.S. Borrower organized in (i) a Qualified Non-U.S. Jurisdiction or (ii) a
Non-Qualified Jurisdiction in which an existing Foreign Subsidiary Guarantor is organized, the
actions described in clauses (D), (E) and (F) and applicable to such Wholly-Owned Subsidiary, shall
not be required to be taken by such Wholly-Owned Subsidiary if the gross book value of its assets
(determined as of the last day of the calendar month then last ended) is less than $10,000,000,
until (and only until) the aggregate gross book value of all
Wholly-Owned Subsidiaries which have not taken the actions described in clauses (D), (E) and
(F) and applicable to such Wholly-Owned Subsidiaries in reliance on this proviso (determined as of
the last day of the calendar month then last ended) exceeds $20,000,000, at which time all such
excluded Wholly-Owned Subsidiaries (and not just those Wholly-Owned Subsidiaries required to reduce
the aggregate gross book value of such excluded Wholly-Owned Subsidiaries to below $20,000,000)
shall take the actions described in clauses (D), (E) and (F) and applicable to such Wholly-Owned
Subsidiaries.

          (b) In addition to Subsidiaries of the U.S. Borrower created pursuant to preceding clause (a),
the U.S. Borrower and its Subsidiaries may establish, acquire or create, and make Investments in,
Non-Wholly Owned Subsidiaries after the Initial Borrowing Date as a result of Permitted
Acquisitions (subject to the limitations contained in the definition thereof) and Investments
expressly permitted to be made pursuant to Section 9.05, provided that (x) all Equity
Interests of each such Non-Wholly Owned Subsidiary which is an Unrestricted Subsidiary shall be
pledged by any Credit Party which owns same to the extent required by the Pledge Agreements or
relevant Foreign Security Agreements, and (y) any actions required to be taken pursuant to Section
8.11 in connection with the establishment of, or Investments in, the respective Subsidiaries are
taken in accordance with the requirements of said Section 8.11.

          9.12 Special Restrictions Relating to Principal Property. No Credit Agreement Party
will, nor will permit any of its Subsidiaries to, (i) own or
acquire any Principal Property (other than the Principal Properties designated on Schedule XV
hereto) or (ii) directly or indirectly, create, incur, issue, assume, guarantee or otherwise become
liable for or suffer to exist any Indebtedness secured by a Lien on any Principal Property;
provided, however, that, notwithstanding the foregoing, (x) the U.S. Borrower and
its Subsidiaries may acquire (by way of third-

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party purchase) up to (but not more than) two
Principal Properties after the Restatement Effective Date and, thereafter, own such Principal
Properties and (y) the U.S. Borrower and its Subsidiaries may own additional Principal Properties
which are not Principal Properties on the Restatement Effective Date (or, if acquired after the
Restatement Effective Date, on such date of acquisition) if (x) the respective Principal Property
becomes a Principal Property after the Restatement Effective Date (or such date of acquisition) as
a result of the making of capital expenditures or other investments in such Property by the U.S.
Borrower or the respective Subsidiary or (y) the respective Principal Property is constructed by
the U.S. Borrower or the respective Subsidiary.

          9.13 Maximum First Priority Secured Leverage Ratio. No Credit Agreement Party shall permit
the First Priority Secured Leverage Ratio as of the
last day of any Test Period set forth below to exceed the maximum First Priority Secured Leverage
Ratio set forth opposite such date below:

	 	 	 
	 	 	Maximum First Priority
	Test Period Ending on or About	 	Secured Leverage Ratio
	March 28, 2009

	 	3.25 to 1.00
	June 20, 2009

	 	3.25 to 1.00
	October 10, 2009

	 	3.25 to 1.00
	January 2, 2010

	 	3.00 to 1.00
	March 27, 2010

	 	3.00 to 1.00
	June 19, 2010

	 	3.00 to 1.00
	October 9, 2010

	 	3.00 to 1.00
	January 1, 2011

	 	3.00 to 1.00
	March 26, 2011

	 	3.00 to 1.00
	June 18, 2011

	 	2.75 to 1.00
	October 8, 2011

	 	2.75 to 1.00
	December 31, 2011

	 	2.75 to 1.00
	March 24, 2012

	 	2.75 to 1.00
	June 16, 2012

	 	2.50 to 1.00
	October 6, 2012

	 	2.50 to 1.00
	December 29, 2012

	 	2.50 to 1.00
	March 23, 2013

	 	2.50 to 1.00

          Section 10. Events of Default. Upon the occurrence of any of the following specified events (each, an “Event of
Default”):

          10.01 Payments. Either Borrower shall (i) default in the payment when due of any principal of any Loan or
Note, (ii) default, and such default shall continue for three or more

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Business Days, in the payment
when due of any Unpaid Drawing, any Unreimbursed Payment, any interest on any Loan or Note or any
Fees or (iii) default, and such default shall continue for 10 or more Business Days after notice to
either Borrower by the Administrative Agent or any Lender, in the payment when due of any other
amounts owing hereunder or under any other Credit Document; or

          10.02 Representations, etc. (a) Any representation, warranty or statement made or deemed made by any Credit Party herein or in any other Credit Document (other than a Foreign Security Document) or in any statement or certificate delivered pursuant hereto or thereto shall prove to be untrue in any material respect on the date as of which made or deemed made, (b) any representation, warranty or statement which is qualified by a materiality standard of any kind and is made or deem
ed made by any Foreign Credit Party in any Foreign Security Document or in any statement or certificate delivered pursuant to any Foreign Security Document shall prove to be untrue in any material respect on the date as of which made or deemed made and (c) any material representation, warranty or statement which is not qualified by a materiality standard of any kind and is made or deemed made by any Foreign Credit Party in any Foreign Security Document or in any statement or certificate delivered pursu
ant to any Foreign Security Document shall prove to be untrue in any material respect on the date as of which made or deemed made; or

          10.03 Covenants. The U.S. Borrower or any of its Subsidiaries shall (a) default in the due performance or observance by it of any term, covenant or agreement contained in Sections 2B.07, 8.01(e)(i), 8.10, 8.11, 8.13, 8.15, 8.18, 8.19, 8.20, 8.21 or 9, or (b) default in the due performance or observance by it of any term, covenant or agreement contained i
n this Agreement (other than those referred to in Sections 10.01, 10.02 or clause (a) of this Section 10.03) and such default shall continue unremedied for a period of at least 30 days after notice to the defaulting party by the Administrative Agent or the Required Lenders; or

          10.04 Default Under Other Agreements. (a) The U.S. Borrower or any of its Subsidiaries shall (i) default in any payment with respect to any Indebtedness (other than the Obligations) beyond the peri
od of grace, if any, provided in the instrument or agreement under which Indebtedness was created or (ii) default in the observance or performance of any agreement or condition relating to any such Indebtedness or contained in any instrument or agreement evidencing, securing or relating thereto, or any other event shall occur or condition exist, the effect of which default or other event or condition is to cause, or to permit the holder or holders of such Indebtedness (or a trustee or agent on behalf o
f such holder or holders) to cause (determined without regard to whether any notice is required), any such Indebtedness to become due prior to its stated maturity; or (b) any Indebtedness (other than the Obligations) of the U.S. Borrower or any of its Subsidiaries shall be declared to be (or shall become) due and payable, or shall be required to be prepaid other than by a regularly scheduled required prepayment, prior to the stated maturity thereof; provided that it shall not constitute an Event
 of Default pursuant to clause (a) or (b) of this Section 10.04 unless the principal amount of any one issue of such Indebtedness, or the aggregate amount of all such Indebtedness referred to in clauses (a) and (b) above, equals or exceeds $25,000,000; or

          10.05 Bankruptcy, etc. The U.S. Borrower or any of its Subsidiaries shall commence a voluntary case concerning itself under Title 11 of the United States Code entitled

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“Bankruptcy,” as now or hereafter in effect, or any successor thereto (the “Bankruptcy Code”); or an involuntary case is
commenced against the U.S. Borrower or any of its Subsidiaries and the petition is not controverted
within 10 days, or is not dismissed within 60 days, after commencement of the case; or a custodian
(as defined in the Bankruptcy Code) is appointed for, or takes charge of, all or substantially all
of the property of the U.S. Borrower or any of its Subsidiaries; or the U.S.
Borrower or any of its Subsidiaries commences any other proceeding under any reorganization,
arrangement, adjustment of debt, relief of debtors, dissolution, insolvency or liquidation or
similar law of any jurisdiction whether now or hereafter in effect relating to the U.S. Borrower or
any of its Subsidiaries; or there is commenced against the U.S. Borrower or any of its Subsidiaries
any such proceeding which remains undismissed for a period of 60 days; or the U.S. Borrower or any
of its Subsidiaries is adjudicated insolvent or bankrupt; or any order of relief or other order
approving any such case or proceeding is entered; or the U.S. Borrower or any of its Subsidiaries
suffers any appointment of any custodian or the like for it or any substantial part of its property
to continue undischarged or unstayed for a period of 60 days; or the U.S. Borrower or any of its
Subsidiaries makes a general assignment for the benefit of creditors; or any Company action is
taken by the U.S. Borrower or any of its Subsidiaries for the purpose of effecting any of the
foregoing; or

          10.06 ERISA. (a) Any Plan shall fail to satisfy the minimum funding standard required for any plan year
or part thereof under Section 412 of the Code or Section 302 of ERISA or a waiver of such standard
or extension of any amortization period is sought or granted under Section 412 of the Code or
Section 303 or 304 of ERISA, a Reportable Event shall have occurred, a contributing sponsor (as
defined in Section 4001(a)(13) of ERISA) of a Plan subject to Title IV of ERISA shall be subject to
the advance reporting requirement of PBGC Regulation Section 4043.61 (without regard to
subparagraph (b)(1) thereof) and an event described in subsection .62, .63, .64, .65, .66, .67 or .68
of PBGC Regulation Section 4043 shall be reasonably expected to occur with respect to such Plan
within the following 30 days which will result in a Material Adverse Effect, any Plan which is
subject to Title IV of ERISA shall have had or is likely to have a trustee appointed to administer
such Plan pursuant to Section 4042(b) of ERISA, any Plan or Multiemployer Plan which is subject to
Title IV of ERISA is, shall have been or is likely to be involuntarily terminated or to be the
subject of termination proceedings under ERISA, any Plan subject to Title IV of ERISA shall have an
Unfunded Current Liability, a contribution required to be made with respect to a Plan subject to
Title IV of ERISA or Multiemployer Plan or a Foreign Pension Plan has not been made within 60 days
of when due, the U.S. Borrower or any Subsidiary of the U.S. Borrower or any ERISA Affiliate has
incurred or is likely to incur any liability to or on account of a Plan subject to Title IV of
ERISA or Multiemployer Plan under Section 409, 502(i), 502(l), 515, 4062, 4063, 4064, 4069, 4201,
4204 or 4212 of ERISA or Section 401(a)(29), 4971 or 4975 of the Code or on account of a group
health plan (as defined in Section 607(1) of ERISA or Section 4980B(g)(2) of the Code) under
Section 4980B of the Code, or the U.S. Borrower or any Subsidiary of the U.S. Borrower has incurred
or is likely to incur liabilities pursuant to one or more employee welfare benefit plans (as
defined in Section 3(1) of ERISA) that provide benefits to retired employees or other former
employees (other than as required by Section 601 of ERISA) or Plans or Foreign Pension Plans, a
“default” within the meaning of Section 4219(c)(5) of ERISA, shall occur with respect to any Plan
or Multiemployer Plan; (b) there shall result from any such event or events described above in this
Section 10.06 the imposition of a lien, the granting of a security interest, or a liability or a
material risk of incurring a liability resulting from any event described in clause (a) above; and
(c) such lien, secu-

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rity interest or liability, individually and/or in the aggregate, in the
reasonable opinion of the Required Lenders, has had, or could reasonably be expected to have, a
Material Adverse Effect; or

          10.07 Security Documents. (a) Any Security Document shall cease to be in full force and effect (except in accordance
with the terms thereof), or shall, subject to the Intercreditor Agreement, cease to give the
Collateral Agent for the benefit of the Secured Creditors the Liens, rights, powers and privileges
purported to be created thereby (including, without limitation, a perfected security interest in,
and Lien on, all of the Collateral), in favor of the Collateral Agent, superior to and prior to the
rights of all third Persons (except as permitted by Section 9.03), and subject to no other Liens
(except as permitted by Section 9.03), or (b) any Credit Party shall default in the due performance
or observance of any term, covenant or agreement on its part to be performed or observed pursuant
to any such Security Document and such default shall continue beyond any cure or grace period
specifically applicable thereto pursuant to the terms of any such Security Document;
provided that (i) the occurrence of an Excluded Event shall not give rise to an Event of
Default under this Section 10.07, (ii) the failure to have a perfected and enforceable Lien on
Collateral in favor of the Collateral Agent shall not give rise to an Event of Default under this
Section 10.07, unless the aggregate fair market value of all Collateral over which the Collateral
Agent fails to have a perfected and enforceable Lien (exclusive of Collateral that is the subject
of an Excluded Event) equals or exceeds $10,000,000 and (iii) in the case of any default described
in clause (b) above in the due performance or observance of any covenant or agreement contained in
any Foreign Security Document that is not (directly or indirectly) related to the perfection or
enforceability of a Lien on Collateral, such default shall not give rise to an Event of Default
until such default shall continue unremedied for a period of at least 15 days after notice to the
defaulting party by the Administrative Agent, the Collateral Agent or the Required Lenders; or

          10.08 Guaranties. Any Guaranty or any provision thereof shall cease to be in full force or effect as to the
relevant Guarantor, or any Guarantor or Person acting by or on behalf of such Guarantor shall deny
or disaffirm such Guarantor’s obligations under the relevant Guaranty, or any Guarantor shall
default in the due performance or observance of any term, covenant or agreement on its part to be
performed or observed pursuant to its Guaranty; provided that the occurrence of an Excluded
Event shall not give rise to an Event of Default under this Section 10.08; or

          10.09 Judgments. One or more judgments or decrees shall be entered against the U.S. Borrower or any of its
Subsidiaries involving a liability (to the extent not paid or covered by a reputable and solvent
insurance company (with any portion of any judgment or decree not so covered to be included in any
determination hereunder)) equal to or in excess of $25,000,000 for all such judgments and decrees
and all such judgments or decrees shall either be final and non-appealable or shall not have been
vacated, discharged or stayed or bonded pending appeal for any period of 60 consecutive days;
provided, however, that for the avoidance of doubt, the European Commission
Decision shall be deemed to have been stayed for so long as such decision is not final and
non-appealable and the U.S. Borrower and its applicable Subsidiaries are diligently pursuing an
appeal of such decision and have complied with all requirements of the European Commission with
respect to the posting of bonds, bank guarantees or other security for the
European Commission Decision (after giving effect to any waiver by the European Commission of any
such requirements); provided, further, that the rendering of any such other
judgment(s) or

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decree(s) by courts outside of the United States and Bermuda shall not be an Event
of Default under this Section 10.09 unless (i) the U.S. Borrower and its Subsidiaries which are
subject to the judgment(s) or decree(s), as of the date of the issuance of such judgment(s) or
decree(s) (or any later date while such judgment(s) or decree(s) are still in effect) have at least
$25,000,000 in net assets (determined on a book basis without regard to any write-down or write-off
of such assets as a result of such judgment(s) or decree(s)) located in the jurisdictions
(i.e., the relevant country or countries or any larger jurisdiction of the respective
court(s)) of the courts rendering such judgment(s) or decree(s) (which is (or are) final and
non-appealable or has (or have) not been vacated, discharged, stayed or bonded pending appeal for
any period of 60 consecutive days) or (ii) an order or orders enforcing such judgment(s) or
decree(s) (which is (or are) final and non-appealable or has (or have) not been vacated,
discharged, stayed or bonded pending appeal for any period of 60 consecutive days) is entered by a
court or courts of competent jurisdiction in a jurisdiction or jurisdictions where the U.S.
Borrower and/or its Subsidiaries subject to the order, as of the date of the entry of such order of
enforcement (or any later date while any such order is still in effect), have at least $25,000,000
in net assets located in such jurisdiction or jurisdictions (determined on a book basis without
regard to any write-down or write-off of such assets as a result of such judgment(s) or decree(s));
or

          10.10 Ownership. A Change of Control shall have occurred; or

          10.11 Denial of Liability. (a) Any Credit Agreement Party shall deny its obligations under this Agreement, any Note
or any other Credit Document, (b) any law, rule or regulation shall purport to render invalid, or
preclude enforcement of, any provision of this Agreement or any other Credit Document or impair
performance of any Foreign Credit Party’s obligations hereunder or under any other Credit Document
or (c) any dominant authority asserting or exercising de jure or de
facto governmental or police powers shall, by moratorium laws or otherwise, cancel, suspend
or defer the obligation of any Foreign Credit Party to pay any amount required to be paid hereunder
or under any other Credit Document; provided that the occurrence of an Excluded Event shall
not give rise to an Event of Default under this Section 10.11; or

          10.12 Governmental Action. Any governmental authority shall have condemned, nationalized, seized, or otherwise
expropriated all or any substantial part of the property, shares of capital stock or other assets
of any Foreign Credit Party or any of its Subsidiaries, or shall have assumed custody or control of
such property or other assets or of the business or operations of any Foreign Credit Party or any
of its Subsidiaries, or shall have taken any action for the dissolution or disestablishment of any
Foreign Credit Party or any of its Subsidiaries or any action that would prevent any Foreign Credit
Party, any of its Subsidiaries or any of their respective officers from carrying on the business of
such Foreign Credit Party or such Subsidiary or a substantial part thereof; provided that the
occurrence of an Excluded Event shall not give rise to an Event of Default under this Section 10.12; or

          10.13 Special Defaults Relating to Bermuda Entities. (i) The Bermuda Borrower shall fail to maintain its corporate existence in full force and
effect or (ii) any Foreign Credit Party organized under the laws of Bermuda shall (x) fail to take
any of the actions described in Section 8.05 or (y) take any action described in the last sentence
of Section 8.16, and such failure to take or the taking of such action, as the case may be,
described in this clause (ii) shall continue

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for a period of at least 30 days after notice to such
Foreign Credit Party by the Administrative Agent or the Required Lenders;

then, and in any such event, and at any time thereafter, if any Event of Default shall then be
continuing, the Administrative Agent shall, upon the written request of the Required Lenders, by
written notice to the U.S. Borrower, take any or all of the following actions, without prejudice to
the rights of any Agent or any Lender to enforce its claims against any Credit Party
(provided that if an Event of Default specified in Section 10.05 shall occur with respect
to either Borrower, the result which would occur upon the giving of written notice by the
Administrative Agent as specified in clauses (i) and (ii) below shall occur automatically without
the giving of any such notice): (i) declare the Total Commitment terminated, whereupon the
Commitment of each Lender shall forthwith terminate immediately and any Fees shall forthwith become
due and payable without any other notice of any kind; (ii) declare the principal of and any accrued
interest in respect of all Loans and all Obligations owing hereunder (including Unpaid Drawings and
Unreimbursed Payments) to be, whereupon the same shall become, forthwith due and payable without
presentment, demand, protest or other notice of any kind, all of which are hereby waived by the
Borrowers; (iii) enforce, as Collateral Agent (or direct the Collateral Agent to enforce), subject
to the Intercreditor Agreement, any or all of the Liens and security interests created pursuant to
the Security Documents; (iv) terminate any Letter of Credit or Bank Guaranty which may be
terminated in accordance with its terms; (v) direct the Bermuda Borrower to pay (and the Bermuda
Borrower agrees that upon receipt of such notice, or upon the occurrence of an Event of Default
specified in Section 10.05 with respect to either Borrower, it will pay) to the Administrative
Agent at the Payment Office such additional amount of cash (in the respective currencies in which
such Letters of Credit or Bank Guaranties are denominated), to be held as security by the
Administrative Agent, as is equal to the sum of (x) the aggregate Stated Amount of all Bermuda
Borrower Letters of Credit issued for the account of the Bermuda Borrower and then outstanding and
(y) the aggregate Face Amount of all Bank Guaranties issued for the account of the Bermuda Borrower
and then outstanding; (vi) direct the U.S. Borrower to pay (and the U.S. Borrower agrees that upon
receipt of such notice, or upon the occurrence of an Event of Default specified in Section 10.05
with respect to either Borrower, it will pay) to the Administrative Agent at the Payment Office
such additional amount of cash (in the respective currencies in which such Letters of Credit or
Bank Guaranties are denominated), to be held as security by the Administrative Agent, as is equal
to the sum of (x) the aggregate Stated Amount of all Letters of Credit then outstanding and (y) the
aggregate Face Amount of all Bank Guaranties issued for the account of the U.S. Borrower and then
outstanding; and (vii) apply any cash collateral held by the Administrative Agent as provided in
Section 4.02 to the repayment of the Obligations.

          Section 11. Definitions. As used herein, the following terms shall have the meanings herein specified unless the
context otherwise requires. Defined terms in this Agreement shall include in the singular number
the plural and in the plural the singular:

          “ABL Borrower” shall mean the “Borrower” as defined in the ABL Credit Agreement.

          “ABL Collateral Agent” shall mean the “Collateral Agent” as defined in the ABL Credit
Agreement.

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          “ABL Commitment” shall mean the commitment under the ABL Credit Agreement.

          “ABL Credit Agreement” shall mean the Credit Agreement, dated as of April 12, 2006,
among Holdings, Intermediate Holdco, the U.S. Borrower, as ABL Borrower, Deutsche Bank Trust
Company Americas, as Administrative Agent, Banc of America Securities LLC, as syndication agent,
The Bank of Nova Scotia, as documentation agent, Deutsche Bank Securities Inc. and Banc of America
Securities LLC, as joint book runners, and Deutsche Bank Securities Inc., as sole lead arranger, as
the same may be amended, restated, modified, supplemented, renewed, refunded, replaced or
refinanced from time to time in one or more agreements or indentures (in each case with the same or
new lenders, institutional investors or agents), including any agreement or indenture extending the
maturity thereof or otherwise restructuring all or any portion of the Indebtedness thereunder or
increasing the amount loaned or issued thereunder or altering the maturity thereof (so long as, in
the case of any replacement or refinancing, all commitments under the agreements or indentures so
replaced or refinanced shall have been terminated, all unpaid amounts thereunder (other than
indemnities) shall have been paid in full and all parties to any replacement or refinancing
agreements or indentures, or a trustee or agent on their behalf, shall have become party to the
Intercreditor Agreement as of the applicable date of replacement or refinancing, as the case may
be).

          “ABL Credit Documents” shall mean the ABL Credit Agreement and the related guaranties,
pledge agreements, security agreements, mortgages, notes and other agreements and instruments
entered into in connection with the ABL Credit Agreement, in each case as the same may be amended,
modified and/or supplemented from time to time in accordance with the terms hereof and thereof.

          “ABL Credit Party” shall mean a “Credit Party” as defined in the ABL Credit Agreement.

          “ABL Lender” shall mean a “Lender” as defined in the ABL Credit Agreement.

          “ABL Loans” shall mean the “Loans” as defined in the ABL Credit Agreement.

          “ABL Priority Collateral” means, collectively, all “ABL Priority Collateral” as
defined in the Intercreditor Agreement.

          “ABL Secured Creditors” shall mean the “Secured Creditors” as defined the ABL Security
Documents.

          “ABL Security Agreement” shall mean the “Security Agreement” as defined in the ABL
Credit Agreement.

          “ABL Security Documents” shall mean the “Security Documents” as defined in the ABL
Credit Agreement.

          “Account Party” shall mean, with respect to Letters of Credit or Bank Guaranties, the
U.S. Borrower or the Bermuda Borrower, as specified in the respective Letter of Credit Request (or,
in the case of Existing Letters of Credit, as specified pursuant to the Original Credit

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Agreement) or Bank Guaranty Request (or, in the case of Existing Bank Guaranties, as specified pursuant to the
Original Credit Agreement).

          “Acquired Entity or Business” shall mean either (x) the assets constituting a
business, division or product line of any Person not already a Subsidiary of the U.S. Borrower or
(y) 100% of the Equity Interests of any such Person, which Person shall, as a result of such
acquisition of Equity Interests, become a Wholly-Owned Subsidiary of the U.S. Borrower (or shall be
merged with and into the U.S. Borrower, the Bermuda Borrower or a another Wholly-Owned Subsidiary
of the U.S. Borrower, with the U.S. Borrower, the Bermuda Borrower or such other Wholly-Owned
Subsidiary being the surviving Person).

          “Additional Collateral” shall mean all property (whether real or personal) in which
security interests are granted (or have been purported to be granted) (and continue to be in effect
at the time of determination) pursuant to Sections 8.11, 8.12 and/or 9.11.

          “Additional Mortgage” shall have the meaning provided in Section 8.11(a).

          “Additional Mortgaged Property” shall have the meaning provided in Section 8.11(a).

          “Additional Security Documents” shall mean all mortgages, pledge agreements, security
agreements and other security documents entered into from time to time pursuant to Sections 8.11,
8.12, 8.15, 9.11 and/or 13.19, as each such document may be modified, supplemented or amended from
time to time in accordance with the terms hereof and thereof.

          “Adjusted Consolidated Net Income” shall mean, for any period, Consolidated Net Income
for such period plus, without duplication, the sum of the amount of all net non-cash
charges (including, without limitation, depreciation, amortization, deferred tax expense, non-cash
interest expense and non-cash share-based compensation expense) and net non-cash losses for such
period and net non-recurring losses directly attributable to the consummation of the IPO
Transactions, in each case, which were included in arriving at Consolidated Net Income,
less the amount of all net non-cash gains and net non-recurring gains directly attributable
to the consummation of the IPO Transactions which were included in arriving at Consolidated Net
Income for such period.

          “Additional Tranche C Term Loans” shall have the meaning provided in Section 1.01(b).

          “Adjusted Consolidated Working Capital” shall mean, at any time, Consolidated Current
Assets at such time (but excluding therefrom all cash and Cash Equivalents) less
Consolidated Current Liabilities at such time.

          “Adjusted Excess Cash Flow” shall mean, for any period, the remainder of (i) Excess
Cash Flow for such period minus (ii) the aggregate amount of principal repayments of Loans
to the extent (and only to the extent) that such repayments were made as a voluntary prepayment
pursuant to, Section 4.01 hereof.

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          “Administrative Agent” shall have the meaning provided in the first paragraph of this
Agreement and shall include any successor to the Administrative Agent appointed pursuant to Section
12.10.

          “Affiliate” shall mean, with respect to any Person, any other Person directly or
indirectly controlling (including but not limited to all directors and officers of such Person),
controlled by, or under direct or indirect common control with such Person. A Person shall be
deemed to control another Person if such Person possesses, directly or indirectly, the power (i) to
vote 10% or more of the securities having ordinary voting power for the election of directors (or
equivalent governing body) of such Person or (ii) to direct or cause the direction of the
management and policies of such other Person, whether through the ownership of voting securities,
by contract or otherwise; provided, however, that neither any Agent nor any Lender
(nor any Affiliate thereof) shall be considered an Affiliate of the U.S. Borrower or any Subsidiary
thereof.

          “After-Acquired Foreign Personal Property” shall have the meaning provided in Section
8.11(k).

          “Agent” shall mean the Administrative Agent, the Syndication Agent and each
Co-Documentation Agent and shall include any successor to any such Person appointed pursuant to
Section 12.10.

          “Aggregate CL Exposure” shall mean, at any time, the sum of (i) the aggregate amount
of all Letter of Credit Outstandings at such time plus (ii) the aggregate amount of all
Bank Guaranty Outstandings at such time (for this purpose, giving effect to the provisos to the
definitions of Stated Amount and Face Amount in determining the Letter of Credit Outstandings and
Bank Guarantee Outstandings at such time).

          “Agreement” shall mean this Credit Agreement, as amended and restated and as the same
may be further modified, supplemented, amended, restated, extended, renewed, refinanced and/or
replaced from time to time.

          “Alternative Currency” shall mean Sterling and Euros.

          “Amendment 1” shall mean Amendment 1 to this Agreement, dated as of March 18, 2009.

          “Applicable Currency” shall mean (i) with respect to any Loan, Dollars and (ii) with
respect to any Letter of Credit or Bank Guaranty, Dollars or the Alternative Currency in which such
Letter of Credit or Bank Guaranty is denominated.

          “Applicable Increased Term Loan Rate” shall mean, at any time, with respect to any
newly-created Tranche of Incremental Term Loans, the rate per annum (expressed as a percentage)
applicable to Tranche B Term Loans, Tranche C Term Loans and each other then existing Tranche of
Incremental Term Loans after giving effect to the provisos in subclause (II) of clause (vii) of
Section 1.15(a) and shall be conclusive and binding on all Lenders absent manifest error.

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          “Applicable Margin” shall mean (i) in the case of Tranche B Term Loans and Tranche C
Term Loans maintained as (A) Base Rate Loans, 4.00% and (B) Eurodollar Loans, 5.00% (or on and
after the date of the most recent incurrence of any Tranche of Incremental Term Loans bearing
interest at the Applicable Increased Term Loan Rate, the Applicable Increased Term Loan Rate for
such Tranche of Incremental Term Loans); and (ii) in the case of any Type of Incremental Term Loans
of a given Tranche, that percentage per annum set forth in, or calculated in accordance with,
Section 1.15 and the relevant Incremental Term Loan Commitment Agreement (or in the case of
Incremental Term Loans of a given Tranche, on and after the date of the most recent incurrence of
any Tranche of Incremental Term Loans bearing interest at the Applicable Increased Term Loan Rate,
the Applicable Increased Term Loan Rate for such Tranche of Incremental Term Loans);
provided, that from and after each date of delivery, on or after the effective date of
Amendment 1, of any certificate delivered in accordance with Section 8.01(d), all Applicable Margin
for Tranche B Term Loans and Tranche C Term Loans shall be decreased by 0.50% from the rates set
forth above if respective certificate delivered in accordance with Section 8.01(d) sets forth a
calculation of the First Priority Secured Leverage Ratio as at the last day of the respective
Fiscal Quarter or Fiscal Year for which the respective certificate is being delivered which is
equal to or less than 1.75:1.00; provided, further, that if any certificate
required to be delivered pursuant to Section 8.01(d) is not delivered by the date required pursuant
to said Section 8.01(d), the Applicable Margin shall be determined without regard to the preceding
proviso from the date on which such certificate was required to be delivered until the first
Business Day following the date of delivery of such certificate. Notwithstanding the foregoing, (i)
the relevant Applicable Margin shall be subject to increases pursuant to, and to the extent
expressly provided in, Section 1.15 and (ii) for any period prior to the effective date of
Amendment 1, the relevant Applicable Margin shall be as set forth in this Agreement prior to the
effectiveness of Amendment 1.

          “Applicable Prepayment Percentage” shall mean, at any time, for purposes of Section
4.02(f) and the definition of “Retained Excess Cash Flow Amount,” 50%; provided that, so
long as no Default or Event of Default is then in existence, if the Total Leverage Ratio is less
than 3.50:1.00 as at the last day of the most recently ended Fiscal Year of the U.S. Borrower (as
set forth in an officer’s certificate delivered pursuant to Section 8.01(d) for the Fiscal Year of
the U.S. Borrower then last ended), the Applicable Prepayment Percentage shall instead be 0%.

          “Asset Sale” shall mean any sale, transfer or other disposition by the U.S. Borrower
or any of its Subsidiaries to any Person other than the U.S. Borrower or any Wholly-Owned
Subsidiary of the U.S. Borrower of any asset or Property (including, without limitation,
any capital stock or other securities of, or other Equity Interests in, another Person, but
excluding the sale by the U.S. Borrower of its own capital stock) of the U.S. Borrower or such
Subsidiary other than (i) sales, transfers or other dispositions of inventory made in the ordinary
course of business, (ii) other sales and dispositions that generate Net Sale Proceeds of less than
$15,000,000 in the aggregate in any Fiscal Year of the U.S. Borrower or (iii) sales or liquidations
of Cash Equivalents, it being understood and agreed that the grant of a Lien by the U.S. Borrower
or any of its Subsidiaries in favor of another Person shall not in and of itself constitute an
“Asset Sale” for purposes of this definition.

          “Assignment and Assumption Agreement” shall mean the Assignment and Assumption
Agreement substantially in the form of Exhibit J (appropriately completed).

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          “Authorized Officer” shall mean, with respect to (i) delivering Notices of Borrowing,
Notices of Conversion, Letter of Credit Requests, Bank Guaranty Requests and similar notices, any
person or persons that has or have been authorized by the board of directors of either Borrower to
deliver such notices pursuant to this Agreement and that has or have appropriate signature cards on
file with the Administrative Agent, the respective Issuing Lender or the respective Bank Guaranty
Issuer, (ii) delivering financial information and officer’s certificates pursuant to this
Agreement, the chief financial officer, any treasurer or other financial officer of the U.S.
Borrower and (iii) any other matter in connection with this Agreement or any other Credit Document,
any officer (or a person or persons so designated by any two officers) of the U.S. Borrower.

          “Bank Guaranty” shall have the meaning provided in Section 2B.01(a).

          “Bank Guaranty Issuer” shall mean (i) if and to the extent it agrees to act as such,
any Agent (and any of such Agent’s affiliates and/or branches), (ii) any ABL Lender (and any of
such ABL Lender’s affiliates and/or branches) or any CL Lender (and any of such CL Lender’s
affiliates and/or branches) which at the request of the U.S. Borrower or the Bermuda Borrower and
with the consent of the Administrative Agent agrees, in such ABL Lender’s or CL Lender’s (or their
respective affiliate’s or branch’s) sole discretion, to become a Bank Guaranty Issuer for the
purpose of issuing Bank Guaranties pursuant to Section 2B and (iii) with respect to the Existing
Bank Guaranties, the Lender or Original Lender (and any of such Lender’s or Original Lender’s
affiliates and/or branches) designated as the issuer thereof on Part B of Schedule XI shall be the
Bank Guaranty Issuer thereof.

          “Bank Guaranty Outstandings” shall mean, at any time, the sum of (i) the aggregate
Face Amount of all outstanding Bank Guaranties which have not terminated at such time plus
(ii) the aggregate amount of all Unreimbursed Payments in respect of all Bank Guaranties at such
time.

          “Bank Guaranty Payment” shall have the meaning provided in Section 2B.05(b).

          “Bank Guaranty Request” shall have the meaning provided in Section 2B.03(a).

          “Bankruptcy Code” shall have the meaning provided in Section 10.05.

          “BAS” shall mean Banc of America Securities LLC, in its individual capacity, and any
successor corporation thereto by merger, consolidation or otherwise.

          “Base Rate” at any time shall mean the higher of (x) the rate which is 1/2 of 1% in
excess of the Federal Funds Rate at such time, (y) the Prime Lending Rate at such time and (z) the
Eurodollar Rate for an Interest Period of one month commencing on such date plus 1%.

          “Base Rate Loan” shall mean each Loan which is designated or deemed designated as a
Base Rate Loan by the respective Borrower at the time of the incurrence thereof or conversion
thereto.

          “Bermuda Borrower” shall have the meaning provided in the first paragraph of this
Agreement.

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          “Bermuda Borrower Bank Guaranty” shall mean each Bank Guaranty (which may be
denominated in Dollars or an Alternative Currency) issued for the account of the Bermuda Borrower
pursuant to Section 2B.01 and designated as such by the Bermuda Borrower in the respective Bank
Guaranty Request (or, in the case of an Existing Bank Guaranty, to the extent provided in Section
2B.01(d)).

          “Bermuda Borrower Incremental Term Loans” shall mean Incremental Term Loans incurred
by the Bermuda Borrower.

          “Bermuda Borrower Letter of Credit” shall mean each Letter of Credit (which must be
denominated in Dollars or an Alternative Currency) issued for the account of the Bermuda Borrower
pursuant to Section 2A.01.

          “Bermuda Borrower Term Loans” shall mean and include all Tranche C Term Loans and all
Bermuda Borrower Incremental Term Loans.

          “Bermuda Borrower’s Guaranty” shall mean the guaranty of the Bermuda Borrower pursuant
to Section 14.

          “Bermuda Partnership” shall mean Dole Foreign Holdings, Ltd., a limited liability
company organized under the laws of Bermuda.

          “Bermuda Partnership Partner #1” shall mean Dole Fresh Fruit Company, Inc., a
corporation organized under the laws of Nevada and a Wholly-Owned Subsidiary of the U.S. Borrower,
and any successor thereto by way of a merger or consolidation permitted by Section 9.01(c).

          “Bermuda Partnership Partner #2” shall mean Dole Ocean Cargo Express, Inc., a
corporation organized under the laws of Nevada and a Wholly-Owned Subsidiary of the U.S. Borrower,
and any successor thereto by way of a merger or consolidation permitted by Section 9.01(c).

          “Bermuda Partnership Partners” shall mean and include Bermuda Partnership Partner #1
and Bermuda Partnership Partner #2.

          “B/G Participant” shall have the meaning provided in Section 2B.04(a).

          “B/G Participation” shall have the meaning provided in Section 2B.04(a).

          “B/G Supportable Indebtedness” shall mean (i) obligations of the U.S. Borrower or its
Wholly-Owned Subsidiaries (or, in the case of any Existing Bank Guaranty, any Foreign Subsidiary of
the U.S. Borrower) incurred in the ordinary course of business owing to taxing authorities, custom
authorities or with respect to import and/or export licenses and (ii) such other obligations of the
U.S. Borrower or its Wholly-Owned Subsidiaries as are reasonably acceptable to the Administrative
Agent and the respective Bank Guaranty Issuer and otherwise permitted to exist pursuant to the
terms of this Agreement.

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          “Borrowers” shall have the meaning provided in the first paragraph of this Agreement.

          “Borrowing” shall mean the borrowing of one Type of Loan pursuant to a single Tranche
by the Bermuda Borrower or by the U.S. Borrower from all the Lenders having Commitments with
respect to such Tranche on a given date (or resulting from a conversion or conversions on such
date), having in the case of Eurodollar Loans the same Interest Period; provided (x) that
Base Rate Loans incurred pursuant to Section 1.10(b) shall be considered part of the related
Borrowing of Eurodollar Loans, (y) the term “Borrowing” shall include the consolidated “borrowing”
of Tranche C Term Loans pursuant to the simultaneous conversion of Original Tranche B Term Loans
and the incurrence of Additional Tranche C Term Loans on the Restatement Effective Date on the
terms provided in Section 1.01(b), and (z) any Incremental Term Loans incurred pursuant to Section
1.01(c) shall be considered part of the related Borrowing of the then outstanding Tranche of Term
Loans (if any) to which such Incremental Term Loans are added pursuant to Section 1.15(c).

          “Business Day” shall mean (i) for all purposes other than as covered by clause (ii)
below, any day excluding Saturday, Sunday and any day which shall be in the City of New York (or,
with respect to an Issuing Lender not located in the City of New York, the location of such Issuing
Lender) a legal holiday or a day on which banking institutions are authorized by law or other
governmental actions to close and (ii) with respect to all notices and determinations in connection
with, determinations of the LIBOR Rate and Interest Periods to be determined in accordance with
clause (ii) of the definition thereof contained herein, any day which is a Business Day described
in clause (i) and which is also a day for trading by and between banks in the London interbank
market and which shall not be a legal holiday or a day on which banking institutions are authorized
or required by law or other government action to close in London or New York City.

          “Business Segment” shall mean a reportable segment as discussed in Statement of
Financial Accounting Standards No. 131 “Disclosure about Segments of an Enterprise and Related
Information.”

          “Calculation Period” shall mean, with respect to any Permitted Acquisition, any
Significant Asset Sale or any other event expressly required to be calculated on a Pro Forma Basis
pursuant to the terms of this Agreement, the Test Period most recently ended prior to the
date of such Permitted Acquisition, Significant Asset Sale or other event for which financial
statements pursuant to Sections 8.01(a) or (b) are then available.

          “California Disposition” shall have the meaning provided in Section 9.02(xx).

          “Canadian Security Agreement” shall have the meaning provided in Section 12.14(a).

          “Capital Expenditures” shall mean, with respect to any Person, for any period, all
expenditures by such Person which should be capitalized in accordance with U.S. GAAP during such
period, including, without duplication, all such expenditures with respect to fixed or capital
assets (including, without limitation, expenditures for maintenance and repairs which should be

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capitalized in accordance with U.S. GAAP) and the amount of all Capitalized Lease Obligations
incurred by such Person during such period.

          “Capital Lease,” as applied to any Person, shall mean any lease of any Property by
that Person as lessee which, in conformity with U.S. GAAP, is accounted for as a capital lease on
the balance sheet of that Person.

          “Capitalized Lease Obligations” of any Person shall mean all obligations under Capital
Leases of such Person, in each case taken at the amount thereof accounted for as indebtedness in
accordance with U.S. GAAP.

          “Cash Equivalents” means (i) Dollars, Euros, Sterling and, in the case of any of
Foreign Subsidiaries of the U.S. Borrower, such local currencies held by them from time to time in
the ordinary course of their businesses, (ii) securities issued or directly fully guaranteed or
insured by the governments of the United States, the United Kingdom, Sweden, Switzerland, Japan,
Canada and members of the European Union or any agency or instrumentality thereof (provided
that the full faith and credit of the respective such government is pledged in support thereof)
having maturities of not more than six months from the date of acquisition, (iii) securities issued
by any state of the United States or any political subdivision of any such state or any public
instrumentality thereof maturing within six months from the date of acquisition thereof and, at the
time of acquisition, having one of the two highest ratings obtainable from either S&P or Moody’s,
(iv) certificates of deposit and eurodollar time deposits with maturities of six months or less
from the date of acquisition, bankers’ acceptances with maturities not exceeding six months and
overnight bank deposits, in each case with any domestic commercial bank or commercial bank of a
foreign country recognized by the United States, (x) in the case of a domestic commercial bank,
having capital and surplus in excess of $500,000,000 and outstanding debt which is rated “A” (or
similar equivalent thereof) or higher by at least one nationally recognized statistical rating
organization (as defined under Rule 436 under the Securities Act) and (y) in the case of a foreign
commercial bank, having capital and surplus in excess of $250,000,000 (or the foreign currency
equivalent thereof), (v) repurchase obligations with a term of not more than seven days for
underlying securities of the types described in clauses (ii) and (iv) above entered into with any
financial institution meeting the qualifications specified in clause (iv) above, (vi) commercial
paper having a rating of at least A-1 from S&P or at least P-1 from Moody’s and in each case
maturing within six months after the date of acquisition and (vii) investments in money market
funds which invest substantially all their
assets in securities of the types described in clauses (i) through (vi) above. Furthermore,
with respect to Foreign Subsidiaries of the U.S. Borrower that are not organized in one or more
Qualified Jurisdictions, Cash Equivalents shall include bank deposits (and investments pursuant to
operating account agreements) maintained with various local banks in the ordinary course of
business consistent with past practice of the U.S. Borrower’s Foreign Subsidiaries.

          “Change of Control” shall mean:

     (i) any “person” (as defined in Section 13(d) of the Exchange Act) other than the
Permitted Holders shall become the owner, directly or indirectly, beneficially or of record,
of shares representing more than 50% of the aggregate ordinary voting power represented by
the issued and outstanding Equity Interests of the U.S. Borrower;

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     (ii) the U.S. Borrower shall at any time cease to own directly or indirectly 100% of
the Equity Interests of the Bermuda Borrower;

     (iii) the Board of Directors of the U.S. Borrower shall cease to consist of a majority
of Continuing Directors, or

     (iv) a “change of control” or similar event shall occur as provided in any ABL Credit
Document, Existing Senior Notes Document, any Qualified Preferred Stock (or certificate of
designation governing the same) or, on and after the execution and delivery thereof, any
Permitted Senior Notes Documents or any Permitted Refinancing Senior Notes Document.

          “CL Credit Event” shall mean and include the issuance of a Letter of Credit and/or a
Bank Guaranty.

          “CL Facility Fee” shall have the meaning provided in Section 3.01(a).

          “CL Interest Payment Date” shall mean (i) in the case of the first CL Interest Payment
Date, the last day of the third Interest Period applicable to Credit-Linked Deposits occurring
after the Restatement Effective Date and (ii) the last day of every third Interest Period
applicable to Credit-Linked Deposits to occur thereafter.

          “CL Lender” shall mean each Lender having a Credit-Linked Commitment (without giving
effect to any termination of the Total Credit-Linked Commitment if any Letter of Credit
Outstandings or any Bank Guaranty Obligations remain outstanding).

          “CL Maturity Date” shall mean April 12, 2013.

          “CL Percentage” of any CL Lender at any time shall be that percentage which is equal
to a fraction (expressed as a percentage) the numerator of which is the Credit-Linked Commitment of
such CL Lender at such time and the denominator of which is the Total Credit-Linked Commitment at
such time, provided that if any such determination is to be made after the Total
Credit-Linked Commitment (and the related Credit-Linked Commitments of the CL Lenders) has (or
have) terminated, the determination of such percentages shall be made
immediately before giving effect to such termination (but giving effect to any subsequent
assignments in accordance with the terms of this Agreement).

          “CL Tranche” shall mean a collective reference to the Credit-Linked Commitments of the
various CL Lenders, the Credit-Linked Deposits of the various CL Lenders and their L/C
Participations in Letters of Credit and B/G Participations in Bank Guaranties hereunder.

          “Code” shall mean the Internal Revenue Code of 1986, as amended from time to time, and
the regulations promulgated and rulings issued thereunder. Section references to the Code are to
the Code, as in effect at the Original Effective Date and any subsequent provisions of the Code,
amendatory thereof, supplemental thereto or substituted therefor.

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          “Co-Documentation Agent” shall have the meaning provided in the first paragraph of
this Agreement and shall include any successor to a Co-Documentation Agent appointed pursuant to
Section 12.10.

          “Collateral” shall mean all property (whether real or personal, movable or immovable)
with respect to which any security interests have been granted (or purported to be granted)
pursuant to any Security Document (including any Additional Security Document), including, without
limitation, all Pledge Agreement Collateral, all Security Agreement Collateral, all Mortgaged
Properties and all cash and Cash Equivalents delivered as collateral pursuant to Section 5.02 of
the Original Credit Agreement or Section 10 or any Credit Document and all Additional Collateral,
if any. It is understood and agreed that the term “Collateral” shall not include any Property
which constitutes Excluded Collateral, for so long as same constitutes Excluded Collateral.

          “Collateral Agent” shall mean DBAG, acting as collateral agent for the Secured
Creditors.

          “Commitment” shall mean any of the commitments of any Lender, i.e., whether
the Tranche B Term Loan Commitment, the Tranche C Term Loan Commitment, the Credit-Linked
Commitment or the Incremental Term Loan Commitment of any Tranche of such Lender.

          “Commodity Agreements” shall mean commodity agreements, hedging agreements and other
similar agreements or arrangements designed to protect against price fluctuations of commodities
(e.g., fuel) used in the business of the U.S. Borrower and its Subsidiaries.

          “Company” shall mean any corporation, limited liability company, partnership or other
business entity (or the adjectival form thereof, where appropriate).

          “Consenting Tranche C Term Loan Lender” shall mean each Lender under, and as defined
in, the Original Credit Agreement with an outstanding Original Tranche B Term Loan on the
Restatement Effective Date (immediately prior to giving effect thereto) that has executed and
delivered a counterpart of this Agreement to the Administrative Agent on or prior to the
Restatement Effective Date and has an amount set forth opposite its name on Schedule I hereto under
the heading “Converted Tranche C Term Loans”.

          “Consolidated Current Assets” shall mean, at any time, the current assets of the U.S.
Borrower and its Consolidated Subsidiaries at such time determined on a consolidated basis (other
than assets held for sale).

          “Consolidated Current Liabilities” shall mean, at any time, the current liabilities of
the U.S. Borrower and its Consolidated Subsidiaries determined on a consolidated basis, but
excluding the current portion of, and accrued but unpaid interest on, any Indebtedness under this
Agreement and any other long-term Indebtedness which would otherwise be included therein and
excluding liabilities related to assets held for sale.

          “Consolidated EBIT” shall mean, for any period, the Consolidated Net Income (without
giving effect to (x) any extraordinary gains or losses and (y) any gains or losses from sales of
assets other than inventory sold in the ordinary course of business) before (i) total inter-

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est expense (inclusive of amortization of deferred financing fees and any other original issue
discount) of the U.S. Borrower and its Consolidated Subsidiaries determined on a consolidated basis
for such period, and (ii) provision for taxes based on income and foreign withholding taxes, in
each case to the extent deducted in determining Consolidated Net Income for such period.

          “Consolidated EBITDA” shall mean for any period, Consolidated EBIT, adjusted by (x)
adding thereto (in each case to the extent deducted in determining Consolidated Net Income for such
period and not already added back in determining Consolidated EBIT) the amount of (i) all
depreciation and amortization expense that were deducted in determining Consolidated EBIT for such
period, (ii) any other non-cash charges incurred in such period (including non-cash share-based
compensation expense), to the extent that same were deducted in arriving at Consolidated EBIT for
such period, (iii) the amount of all fees and expenses incurred in connection with the Transaction,
Amendment 1, the refinancing of the Existing 2009 Senior Notes, the refinancing of the Existing
2010 Senior Notes or the IPO Transactions for such period to the extent same were deducted in
arriving at Consolidated EBIT for such period, and (iv) any losses attributable to the interest
component of cross-currency hedging arrangements even if such transactions are treated for GAAP
purposes as foreign exchange transactions to the extent same were deducted in arriving at
Consolidated EBIT for such period, and (y) subtracting therefrom, (i) to the extent included in
arriving at Consolidated EBIT for such period, the amount of non-cash gains during such period,
(ii) the aggregate amount of all cash payments made during such period in connection with non-cash
charges incurred in a prior period, to the extent such non-cash charges were added back pursuant to
clause (x)(ii) above in a prior period and (iii) any gains attributable to the interest component
of cross-currency hedging arrangements even if such transactions are treated for GAAP purposes as
foreign exchange transactions to the extent same were included in arriving at Consolidated EBIT for
such period. Notwithstanding the foregoing, (x) Consolidated EBITDA of the U.S. Borrower for the
fiscal quarters ended June 14, 2008, October 4, 2008 and January 3, 2009 shall be deemed to be
$140,400,000, $51,300,000 and $81,900,000, respectively, and notwithstanding anything to the
contrary in the definition of Pro Forma Basis, no adjustment shall be made to such amounts as a
result of any transaction occurring prior to the effective date of Amendment 1 and (y) Consolidated
EBITDA shall be calculated without regard to any nonrecurring gains or losses that are directly
attributable to the IPO Transactions (including in connection with the IPO Merger and the Debt
Repayment).

          “Consolidated First Priority Secured Debt” shall mean, at any time, the remainder of
(I) the sum of (without duplication) (i) all Indebtedness of the U.S. Borrower and its Consolidated
Subsidiaries (on a consolidated basis) as would be required to be reflected as debt or Capital
Leases on the liability side of a consolidated balance sheet of the U.S. Borrower and its
Consolidated Subsidiaries in accordance with U.S. GAAP, (ii) all Indebtedness of the U.S. Borrower
and its Consolidated Subsidiaries of the type described in clause (ii) of the definition of
Indebtedness and (iii) all Contingent Obligations of the U.S. Borrower and its Consolidated
Subsidiaries in respect of Indebtedness of any third Person of the type referred to in preceding
clauses (i) and (ii) minus (II) the aggregate amount any Indebtedness that is totally
unsecured and the aggregate amount of any Permitted Refinancing Senior Notes that are secured by a
Lien on any Collateral; provided that (x) the amount available to be drawn under all
letters of credit, bankers’ acceptances, bank guaranties and similar obligations issued for the
account of the U.S. Borrower or any of its Consolidated Subsidiaries (but excluding, for avoidance
of doubt, all unpaid drawings or other monetary obligations owing in respect of such letters of
credit, bankers’ accep-

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tances, bank guaranties and similar obligations) shall not be included in any
determination of “Consolidated First Priority Secured Debt” and (y) obligations arising under
Synthetic Leases shall be included in determining Consolidated First Priority Secured Debt.

          “Consolidated Net Debt” shall mean, at any time, the remainder of (I) the sum of
(without duplication) (i) all Indebtedness of the U.S. Borrower and its Consolidated Subsidiaries
(on a consolidated basis) as would be required to be reflected as debt or Capital Leases on the
liability side of a consolidated balance sheet of the U.S. Borrower and its Consolidated
Subsidiaries in accordance with U.S. GAAP, (ii) all Indebtedness of the U.S. Borrower and its
Consolidated Subsidiaries of the type described in clauses (ii) and (vii) of the definition of
“Indebtedness” and (iii) all Contingent Obligations of the U.S. Borrower and its Consolidated
Subsidiaries in respect of Indebtedness of any third Person of the type referred to in preceding
clauses (i) and (ii) minus (II) the aggregate amount of Unrestricted Cash Equivalents of
the U.S. Borrower and its Subsidiaries at such time to the extent same would be reflected on a
consolidated balance sheet of the U.S. Borrower if same were prepared at such time;
provided that (w) the amount available to be drawn under all letters of credit, bankers’
acceptances, bank guaranties and similar obligations issued for the account of the U.S. Borrower or
any of its Consolidated Subsidiaries (but excluding, for avoidance of doubt, all unpaid drawings or
other monetary obligations owing in respect of such letters of credit, bankers’ acceptances, bank
guaranties and similar obligations) shall not be included in any determination of “Consolidated Net
Debt,” (x) for purposes of this definition, the amount of Indebtedness in respect of the Interest
Rate Protection Agreements, Other Hedging Agreements and Commodities Agreements shall be at any
time the unrealized net loss position, if any, of the U.S. Borrower and/or its Consolidated
Subsidiaries thereunder on a marked-to-market basis determined no more than one month prior to such
time, (y) obligations arising under Synthetic Leases shall be included in determining Consolidated
Net Debt and (z) any Preferred Equity of the U.S. Borrower or any of its Consolidated Subsidiaries
shall be treated as Indebtedness, with an amount equal to the greater of the liquidation preference
or the maximum fixed repurchase price of any such outstanding Preferred Equity deemed to be a
component of Consolidated Net Debt.

          “Consolidated Net Income” shall mean, for any period, the net income (or loss) of the
U.S. Borrower and its Consolidated Subsidiaries determined on a consolidated basis for such period
(taken as a single accounting period) in accordance with U.S. GAAP, provided that the
following items shall be excluded in computing Consolidated Net Income (without duplication):
(i) except for determinations expressly required to be made on a Pro Forma Basis, the net income
(or loss) of any Person accrued prior to the date it becomes a Consolidated Subsidiary or all or
substantially all of the property or assets of such Person are acquired by a Consolidated
Subsidiary and (ii) the net income of any Consolidated Subsidiary to the extent that the
declaration or payment of dividends or similar distributions by such Consolidated Subsidiary of
such net income is not at the time permitted by the operation of the terms of its charter or any
agreement, instrument, judgment, decree, order, statute, rule or governmental regulation applicable
to such Consolidated Subsidiary.

          “Consolidated Senior Secured Net Debt” shall mean, at any time, (x) the amount of
Consolidated Net Debt at such time less (y) all amounts reflected therein attributable to
Indebtedness which is totally unsecured.

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          “Consolidated Subsidiary” shall mean, with respect to any Person, at any date, any
other Person the Equity Interests of which are owned by such Person and whose financial results are
consolidated in the financial statements of such Person in accordance with U.S. GAAP (and
consistent with the consolidation practices of the U.S. Borrower as in effect on the Original
Effective Date), if such statements were prepared as of such date; provided,
however, that Westlake Wellbeing Company and its Subsidiaries shall not be deemed to be
Consolidated Subsidiaries of the U.S. Borrower unless following completion of the IPO Transactions
any such company becomes a Subsidiary of the U.S. Borrower.

          “Contemplated Asset Sale” shall mean any sale of assets by the U.S. Borrower and/or
one or more of its Subsidiaries (including Real Property and Equity Interests held by such Persons
but excluding Equity Interests in the Bermuda Borrower and the Bermuda Partnership and any Person
which owns, directly or indirectly, Equity Interests therein); provided, however,
that (i) any such assets so sold are not material to the operations of the U.S. Borrower and its
Subsidiaries, (ii) after giving effect to such sale, the U.S. Borrower would be in compliance on a
pro forma basis with Section 9.13 as of the last day of the most recently completed
Test Period for which financial statements are available and (iii) the U.S. Borrower shall have
provided a certificate to the Administrative Agent stating that such sale is made as a, and
complies with the requirements of the definition of, Contemplated Asset Sale.

          “Contingent Obligation” shall mean, as to any Person, any obligation of such Person as
a result of such Person being a general partner of any other Person, unless the underlying
obligation is expressly made non-recourse as to such general partner, and any obligation of such
Person guaranteeing or intended to guarantee any Indebtedness, leases, dividends or other
obligations (“primary obligations”) of any other Person (the “primary obligor”) in
any manner, whether directly or indirectly, including, without limitation, any obligation of such
Person, whether or not contingent, (i) to purchase any such primary obligation or any property
constituting direct or indirect security therefor, (ii) to advance or supply funds (x) for the
purchase or payment of any such primary obligation or (y) to maintain working capital or equity
capital of the primary obligor or otherwise to maintain the net worth or solvency 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
such primary obligation against loss in respect thereof; provided, however,
that the term Contingent Obligation shall not include endorsements of instruments for deposit or
collection in the ordinary course of business. The amount of any Contingent Obligation shall be
deemed to be an amount equal to the lesser of (x) the stated or determinable amount of the primary
obligation in respect of which such Contingent Obligation is made or, if not stated or
determinable, the maximum reasonably anticipated liability in respect thereof (assuming such Person
is required to perform thereunder) as determined by such Person in good faith and (y) the stated
amount of such Contingent Obligation.

          “Continuing Directors” shall mean the directors of the U.S. Borrower immediately after
giving effect to the IPO Transactions and each other director if such director’s election to, or
nomination for the election to, the Board of Directors of the U.S. Borrower is recommended or
approved by a majority of then Continuing Directors.

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          “Converted Tranche C Term Loans” shall have the meaning provided in Section 1.01(b).

          “Credit Agreement Party” shall mean each Borrower.

          “Credit Agreement Party Guaranty” shall mean the guaranty of each Credit Agreement
Party pursuant to Section 14.

          “Credit Documents” shall mean this Agreement, the Notes, each Subsidiaries Guaranty,
the Intercompany Subordination Agreement, each Special Colombian Put Note, each Special Colombian
Put Note Agreement, each Security Document, each Incremental Term Loan Commitment Agreement, the
U.S. Subsidiaries Guaranty, the Foreign Subsidiaries Guaranty Acknowledgement, the Intercompany
Subordination Agreement Acknowledgement, each Foreign Security Document Acknowledgement and/or
Amendment, the Intercreditor Agreement and any other guarantees or security documents executed and
delivered for the benefit of the Lenders in accordance with the requirements of this Agreement and
any other guaranties, pledge agreements or security documents executed and delivered in accordance
with the requirements of Sections 8.11, 8.12 and/or 9.10.

          “Credit Event” shall mean the making of a Loan, the issuance of a Letter of Credit,
the issuance of a Bank Guaranty or the making of any Credit-Linked Deposit.

          “Credit-Linked Commitment” shall mean, for each Lender, the amount set forth opposite
such Lender’s name in Schedule I directly below the column entitled “Credit-Linked Commitment,” as
the same may be (x) reduced from time to time or terminated pursuant to Sections 3.02, 3.03 and/or
10, as applicable, or (y) adjusted from time to time as a result of assignments to or from such
Lender pursuant to Section 1.13 or 13.04(b).

          “Credit-Linked Deposit” shall mean, as to each CL Lender, the cash deposit made by
such CL Lender pursuant to Section 2C.01(a) or Section 1.13 or 13.04(b), as the case may be, as
such deposit may be (x) reduced from time to time pursuant to the terms of this Agreement and (y)
reduced or increased from time to time pursuant to assignments to or by such CL Lender pursuant to
Section 1.13 or 13.04(b). The initial amount of each CL Lender’s Credit-Linked Deposit shall be
equal to the amount of its Credit-Linked Commitment on the Restatement
Effective Date or on the date that such Person becomes a CL Lender pursuant to Section 1.13 or
13.04(b).

          “Credit-Linked Deposit Account” shall mean the accounts of, and established by, the
Deposit Bank under its sole and exclusive control and maintained at the office of the Deposit Bank,
and designated as the “Dole Foods Credit-Linked Deposit Account” that shall be used solely for the
purposes set forth in Sections 1.04, 2A.04(c) and 2B.04(c).

          “Credit-Linked Deposit Cost Amount” shall mean, at any time, a percentage per annum
equal to 0.13% (or such other amount as may be agreed from time to time by the Administrative Agent
and the U.S. Borrower).

          “Credit Party” shall mean each U.S. Credit Party and each Foreign Credit Party.

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          “DBAG” shall mean Deutsche Bank AG New York Branch, in its individual capacity, and
any successor corporation thereto by merger, consolidation or otherwise.

          “DBSI” shall mean Deutsche Bank Securities Inc., in its individual capacity, and any
successor corporation thereto by merger, consolidation or otherwise.

          “Debt Repayment” shall mean the repayment of (i) approximately $85,000,000 of
Indebtedness of Holdings (guaranteed by Westlake Wellbeing Company) that becomes Indebtedness of
the U.S. Borrower as a result of the IPO Merger and (ii) other Indebtedness of the U.S. Borrower
and/or its Subsidiaries (but without any requirement to terminate revolving commitments, in the
case of any repayment of revolving Indebtedness) including any Permitted Senior Notes and Permitted
Refinancing Senior Notes.

          “Default” shall mean any event, act or condition, which with notice or lapse of time,
or both, would constitute an Event of Default.

          “Defaulting Lender” shall mean any Lender with respect to which a Lender Default is in
effect.

          “Deposit Bank” shall mean DBAG and shall include any successor thereto appointed
pursuant to Section 12.10.

          “Disqualified Voting Participant” shall mean any participant meeting the requirements
of subclauses (x), (y)(A) and (y)(B) of clause (II) of the second proviso appearing in Section
13.04(a) which (i) has refused to consent to certain proposed changes, waivers, discharges or
terminations with respect to this Agreement of the type described in Section 13.12(a) and which
have been approved by the Required Lenders and (ii) has been designated as a “Disqualified Voting
Participant” by the U.S. Borrower in a written notice to the Administrative Agent.

          “Distributed Assets” shall mean (i) approximately 1,600 acres of idle land located in
Honduras with a Fair Market Value of approximately $12,000,000 and (ii) the Equity Interests of
Westlake Wellbeing Company, in each case to be distributed by the U.S. Borrower as part of the IPO
Transactions.

          “Dividend” shall have the meaning provided in Section 9.06.

          “Documents” shall mean and include (i) the Credit Documents, (ii) the ABL Credit
Documents, (iii) the Refinancing Documents, (iv) the Intercompany Distribution Transaction
Documents, (v) the Sale-Leaseback Transaction Documents, (vi) the Existing Senior Notes Documents,
(vii) on and after the execution and delivery thereof, any Permitted Senior Notes Document and
(viii) on and after the execution and delivery thereof, any Permitted Refinancing Senior Notes
Document.

          “Dole Canada” shall have the meaning provided in Section 12.14(a).

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          “Dole Settlement Company” shall mean the U.S. Borrower or a Qualified U.S. Obligor
that is not subject to the guaranty limitation applicable to the Bermuda Partnership Partners
contained in the U.S. Subsidiaries Guaranty.

          “Dollars” shall mean U.S. Dollars.

          “Dollar Denominated Bank Guaranty” shall mean each Bank Guaranty denominated in
Dollars.

          “Dollar Denominated Bank Guaranty Outstandings” shall mean, at any time, the sum of
(i) the aggregate Face Amount of all outstanding Dollar Denominated Bank Guaranties at such time
plus (ii) the aggregate amount of all Unreimbursed Payments with respect to Dollar
Denominated Bank Guaranties at such time.

          “Dollar Denominated Letter of Credit” shall mean each Letter of Credit denominated in
Dollars.

          “Dollar Denominated Letter of Credit Outstandings” shall mean, at any time, the sum of
(i) the aggregate Stated Amount of all outstanding Dollar Denominated Letters of Credit at such
time plus (ii) the aggregate amount of all Unpaid Drawings with respect to Dollar
Denominated Letters of Credit at such time.

          “Dollar Equivalent” of an amount denominated in a currency other than Dollars shall
mean, at any time for the determination thereof, the amount of Dollars which could be purchased
with the amount of such currency involved in such computation at the spot exchange rate therefor as
quoted by the Administrative Agent as of 11:00 A.M. (New York time) on the date two Business Days
prior to the date of any determination thereof for purchase on such date (or, in the case of any
determination pursuant to Section 1.14 or 13.22 hereof or Section 26 (or any analogous provision)
of any Subsidiaries Guaranty, on the date of determination); provided that (x) the Dollar
Equivalent of any Unpaid Drawing under a Non-Dollar Denominated Letter of Credit shall be
determined at the time the drawing under the related Letter of Credit was paid or disbursed by the
respective Issuing Lender, and (y) the Dollar Equivalent of any Unreimbursed Payment under a
Non-Dollar Denominated Bank Guaranty shall be determined at the time the payment under the related
Bank Guaranty was made or disbursed by the respective Bank Guaranty Issuer; provided,
further, that for purposes of (x) determining compliance with Sections 1.01(a), (b) and
(c), 2A.01(c), 2B.01(c) and 4.02(a) and (y) calculating Fees pursuant to Section 3.01, the Dollar
Equivalent of any amounts denominated in a currency other than Dollars shall be
revalued on a monthly basis using the spot exchange rates therefor as quoted in the Wall
Street Journal (or, if same does not provide such exchange rates, on such other basis as is
reasonably satisfactory to the Administrative Agent) on the first Business Day of each calendar
month, provided, however, that at any time during a calendar month, if the
Aggregate CL Exposure (for the purposes of the determination thereof, using the Dollar Equivalent
as recalculated based on the spot exchange rate therefor as quoted in the Wall Street Journal (or,
if same does not provide such exchange rates, on such other basis as is reasonably satisfactory to
the Administrative Agent) on the respective date of determination pursuant to this exception) would
exceed 85% of the Total Credit-Linked Commitment, then in the sole discretion of the Administrative
Agent or at the request of the Required Lenders, the Dollar Equivalent shall be reset based upon
the spot

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exchange rates on such date as quoted in the Wall Street Journal (or, if same does not
provide such exchange rates, on such other basis as is reasonably satisfactory to the
Administrative Agent), which rates shall remain in effect until the first Business Day of the next
succeeding calendar month or such earlier date, if any, as the rate is reset pursuant to this
proviso. Notwithstanding anything to the contrary contained in this definition, at any time that a
Default or an Event of Default then exists, the Administrative Agent may revalue the Dollar
Equivalent of any amounts outstanding under the Credit Documents in a currency other than Dollars
in its sole discretion using the spot exchange rates therefor as quoted in the Wall Street Journal
(or, if the same does not provide such exchange rates, on such other basis as is reasonably
satisfactory to the Administrative Agent).

          “Domestic Subsidiary” shall mean, as to any Person, any Subsidiary of such Person
incorporated or organized in the United States or any State or territory thereof.

          “Drawing” shall have the meaning provided in Section 2A.05(b).

          “Eligible Transferee” shall mean and include a commercial bank, a mutual fund, an
insurance company, a financial institution, a “qualified institutional buyer” (as defined in Rule
144A of the Securities Act), any fund that regularly invests in bank loans or any other “accredited
investor” (as defined in Regulation D of the Securities Act), but in any event excluding any
individual and the U.S. Borrower and its Subsidiaries and Affiliates.

          “EMU Legislation” shall mean the legislative measures of the European Union for the
introduction of, changeover to or operation of the Euro in one or more member states, being in part
legislative measures to implement the third stage of the European Monetary Union.

          “Environmental Claims” shall mean any and all administrative, regulatory or judicial
actions, suits, demands, demand letters, claims, liens, notices of non-compliance or violation,
investigations or proceedings relating in any way to any violation (or alleged violation) by the
U.S. Borrower or any of its Subsidiaries under any Environmental Law or any permit issued to the
U.S. Borrower or any of its Subsidiaries under any such law (hereafter “Claims”),
including, without limitation, (a) any and all Claims by governmental or regulatory authorities for
enforcement, cleanup, removal, response, remedial or other actions or damages pursuant to any
applicable Environmental Law, and (b) any and all Claims by any third party seeking damages,
contribution, indemnification, cost recovery, compensation or injunctive relief resulting from
Hazardous Materials or arising from alleged injury or threat of injury to health, safety or the
environment.

          “Environmental Law” shall mean any federal, state or local policy having the force and
effect of law, statute, law, rule, regulation, ordinance, code or rule of common law now or
hereafter in effect and in each case as amended, and any judicial or administrative interpretation
thereof, including any judicial or administrative order, consent, decree or judgment (for purposes
of this definition (collectively, “Laws”)), relating to the indoor or outdoor environment,
or Hazardous Materials or health and safety to the extent such health and safety issues arise under
the Occupational Safety and Health Act of 1970, as amended, or any such similar Laws.

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          “Equity Interests” of any Person shall mean any and all shares, interests, rights to
purchase, warrants, options, participation or other equivalents of or interest in (however
designated) equity of such Person, including any preferred stock, any limited or general
partnership interest and any limited liability company membership interest.

          “ERISA” shall mean the Employee Retirement Income Security Act of 1974, as amended
from time to time, and the regulations promulgated and rulings issued thereunder. Section
references to ERISA are to ERISA, as in effect on the Original Effective Date and any subsequent
provisions of ERISA, amendatory thereof, supplemental thereto or substituted therefor.

          “ERISA Affiliate” shall mean each person (as defined in Section 3(9) of ERISA) which
together with the U.S. Borrower or a Subsidiary of the U.S. Borrower would be deemed to be a
“single employer” (i) within the meaning of Section 414(b), (c), (m) or (o) of the Code or (ii) as
a result of the U.S. Borrower or a Subsidiary of the U.S. Borrower being or having been a general
partner of such Person.

          “Euro Denominated Bank Guaranty” shall mean each Bank Guaranty denominated in Euros.

          “Euro Denominated Letter of Credit” shall mean each Letter of Credit denominated in
Euros.

          “Eurodollar Loans” shall mean each Loan designated as such by the respective Borrower
or Borrowers at the time of the incurrence thereof or conversion thereto.

          “Eurodollar Rate” shall mean, for any Interest Period, in the case of any Loan, the
greater of (x)(i) the arithmetic average (rounded upwards to the nearest 1/16 of 1% ) of the
offered quotation to first class banks in the interbank Eurodollar market by DBAG for U.S. dollar
deposits of amounts in immediately available funds comparable to the principal amount of the
applicable Eurodollar Loan for which the Eurodollar Rate is being determined with maturities
comparable to the Interest Period for which such Eurodollar Rate will apply at approximately 10:00
A.M. (New York time) on the Interest Determination Date divided by (ii) a percentage equal to 100%
minus the then stated maximum rate of all reserve requirements (including, without limitation, any
marginal, emergency, supplemental, special or other reserves) applicable to any member bank of the
Federal Reserve System in respect of Eurocurrency liabilities as defined in Regulation D (or any
successor category of liabilities under Regulation
D) and (y) 3.00% per annum. The determination of the Eurodollar Rate by the Administrative
Agent shall be conclusive and binding on the Borrowers absent manifest error.

          “European Commission Decision” means the €45.6 million fine imposed by the European
Commission on the U.S. Borrower and certain of its Subsidiaries as more particularly described in a
press release issued by the European Commission on October 15, 2008.

          “Euros” and the designation “€” shall mean the currency introduced on January
1, 1999 at the start of the third stage of European economic and monetary union pursuant to the
Treaty (expressed in euros).

          “Event of Default” shall have the meaning provided in Section 10.

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          “Excess Cash Flow” shall mean, for any period, the remainder of (a) the sum of,
without duplication, (i) Adjusted Consolidated Net Income for such period and (ii) the decrease, if
any, in Adjusted Consolidated Working Capital from the first day to the last day of such period,
minus (b) the sum of, without duplication, (i) the aggregate amount of all Capital
Expenditures made by the U.S. Borrower and its Subsidiaries during such period (other than Capital
Expenditures to the extent financed with equity proceeds, Equity Interests, asset sale proceeds,
insurance proceeds or Indebtedness (other than with proceeds of ABL Loans, Original Revolving
Loans, or Original Swingline Loans)), (ii) the aggregate amount of permanent principal payments of
Indebtedness for borrowed money of the U.S. Borrower and its Subsidiaries and the permanent
repayment of the principal component of Capitalized Lease Obligations of the U.S. Borrower and its
Subsidiaries during such period (other than (A) repayments, to the extent made with asset sale
proceeds, equity proceeds, insurance proceeds or Indebtedness (other than with proceeds of ABL
Loans, Original Revolving Loans or Original Swingline Loans), (B) repayments of Original Loans,
unless same were required as a result of a Scheduled Repayment (as defined in the Original Credit
Agreement) under Section 4.02(b) of the Original Credit Agreement, (C) repayments of ABL Loans or
(D) a Scheduled Repayment under Section 4.02(b), as the case may be) and (iii) the increase, if
any, in Adjusted Consolidated Working Capital from the first day to the last day of such period.

          “Excess Cash Flow Payment Period” shall mean, with respect to any Excess Cash Payment
Date, the immediately preceding Fiscal Year of the U.S. Borrower.

          “Excess Cash Payment Date” shall mean the date occurring 3 Business Days after the
90th day following the last day of a Fiscal Year of the U.S. Borrower.

          “Exchange Percentage” shall mean, as to each Lender, a fraction, expressed as a
decimal, in each case determined on the date of occurrence of a Sharing Event (after giving effect
to any actions to occur on, or promptly after, such date pursuant to Section 1.14(a), but before
giving effect to any actions to occur on such date pursuant to Section 1.14(b)) of which: (a) the
numerator shall be the sum of (i) the CL Percentage of such Lender (if a CL Lender) of (x) the
aggregate amount of Letter of Credit Outstandings (calculated by giving full effect to the proviso
to the definition of Stated Amount contained herein) and (y) the aggregate amount of Bank Guaranty
Outstandings (calculated by giving full effect to the proviso to the definition of “Face Amount”
contained herein) and (ii) the aggregate principal amount of the outstanding
Term Loans of such Lender; and (b) the denominator of which shall be the sum of (i) the sum of
(x) the aggregate amount of Letter of Credit Outstandings (calculated by giving full effect to the
proviso to the definition of Stated Amount contained herein) and (y) the aggregate amount of Bank
Guaranty Outstandings (calculated by giving full effect to the proviso to the definition of Face
Amount contained herein) and (ii) the aggregate principal amount of all outstanding Term Loans of
all Lenders.

          “Excluded Bermuda Insurance Companies” shall mean and include (i) Ashford Company
Limited, a limited liability corporation organized under laws of Bermuda, and (ii) Mendocino
Limited, a limited liability corporation organized under laws of Bermuda.

          “Excluded Collateral” shall mean and include (i) each Principal Property of the U.S.
Borrower and any of its Restricted Subsidiaries, (ii) all shares of capital stock or Indebted-

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ness (as defined in the Existing 2013 Senior Notes Indenture as in effect on the Initial Borrowing Date)
of any Restricted Subsidiary of the U.S. Borrower (which Indebtedness (as so defined) is then held
by the U.S. Borrower or any Restricted Subsidiary) and (iii) Margin Stock owned or held by the U.S.
Borrower or any of its Subsidiaries, except to the extent required to be pledged pursuant to
Section 8.19; provided that (x) the collateral described in preceding clauses (i) and (ii)
shall cease to constitute “Excluded Collateral” upon the repayment in full of all Existing 2009
Senior Notes and all Existing 2013 Senior Notes and (y) as the term “Excluded Collateral” is used
in any Foreign Security Document, such term shall not include any Principal Property referred to in
clause (i) above.

          “Excluded Domestic Subsidiary” shall mean County Line Mutual Water Company, a
Wholly-Owned Domestic Subsidiary of the U.S. Borrower.

          “Excluded Event” shall mean the taking of any action, or the adoption of any law, rule
or regulation, by any governmental authority which results in a deficiency that would otherwise
give rise to a Default or Event of Default under any of Sections 10.07, 10.08, 10.11(b), 10.11(c)
and/or 10.12; provided that (i) any such deficiency or default shall relate solely to a
Foreign Subsidiary of the U.S. Borrower (other than a Foreign Subsidiary organized under the laws
of Bermuda), its business or properties and the Credit Documents to which such Foreign Subsidiary
is a party and (ii) the aggregate fair market value of all Property of all Foreign Subsidiaries
subject to any such deficiencies or defaults (including all Property which would have been Property
of the respective Foreign Subsidiaries if the actions described in Section 10.12 had not been
taken) shall not exceed $15,000,000.

          “Excluded Foreign Subsidiaries” shall mean Foreign Subsidiaries of the U.S. Borrower
organized in Qualified Non-U.S. Jurisdictions and listed on Part B of Schedule XIII;
provided that any Foreign Subsidiary listed on Part B of Schedule XIII which merges or
consolidates with or into any other Foreign Subsidiary of the U.S. Borrower that is a Qualified
Obligor organized in the jurisdiction of organization of such listed Foreign Subsidiary shall cease
to be an “Excluded Foreign Subsidiary” for purposes of this Agreement.

          “Existing Bank Guaranties” shall have the meaning provided in Section 2B.01(d).

          “Existing Indebtedness” shall mean and include Scheduled Existing Indebtedness and the
Existing Senior Notes Documents.

          “Existing Indebtedness Agreements” shall mean all agreements evidencing or relating to
any material Existing Indebtedness of the U.S. Borrower or any of its Subsidiaries, together with
any agreements referred to in Section 5.13(iii) of the Original Credit Agreement (which agreements
continue to be in effect on the Restatement Effective Date), and any amendments thereto made in
accordance with the terms thereof and hereof.

          “Existing Letters of Credit” shall have the meaning provided in Section 2A.01(d).

          “Existing Senior Notes” shall mean and include the Existing 2009 Senior Notes, the
Existing 2013 Senior Notes, the Existing 2011 Senior Notes and the Existing 2010 Senior Notes.

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          “Existing Senior Notes Documents” shall mean and include (i) the Existing 2009 Senior
Notes Documents, (ii) the Existing 2013 Senior Notes Documents, (iii) the Existing 2011 Senior
Notes Documents and (iv) the Existing 2010 Senior Notes Documents.

          “Existing Senior Notes Indentures” shall mean and include (i) the Existing 2009 Senior
Notes Indenture, (ii) the Existing 2013 Senior Notes Indenture, (iii) the Existing 2011 Senior
Notes Indenture and (iv) the Existing 2010 Senior Notes Indenture.

          “Existing 2011 Senior Notes” shall mean the U.S. Borrower’s 8-7/8% Senior Notes due
2011, issued pursuant to the Existing 2011 Senior Notes Indenture, as in effect on the Restatement
Effective Date and as the same may be amended, modified or supplemented from time to time in
accordance with the terms hereof and thereof.

          “Existing 2011 Senior Notes Documents” shall mean the Existing 2011 Senior Notes, the
Existing 2011 Senior Notes Indenture and all other documents executed and delivered with respect to
the Existing 2011 Senior Notes or Existing 2011 Senior Notes Indenture, as in effect on the
Restatement Effective Date and as the same may be amended, modified or supplemented from time to
time in accordance with the terms hereof and thereof.

          “Existing 2011 Senior Notes Indenture” shall mean the Indenture, dated as of March 28,
2003, among the U.S. Borrower, any U.S. Subsidiary Guarantors from time to time party thereto and
the trustee therefor, as in effect on the Restatement Effective Date and as the same may be
amended, modified or supplemented from time to time in accordance with the terms hereof and
thereof.

          “Existing 2009 Senior Notes” shall mean the U.S. Borrower’s 8-5/8% Senior Notes due
2009, issued pursuant to the Existing 2009 Senior Notes Indenture, as in effect on the Restatement
Effective Date and as the same may be amended, modified or supplemented from time to time in
accordance with the terms hereof and thereof.

          “Existing 2009 Senior Notes Documents” shall mean the Existing 2009 Senior Notes, the
Existing 2009 Senior Notes Indenture and all other documents executed and delivered with respect to
the Existing 2009 Senior Notes or Existing 2009 Senior Notes Indenture, as in
effect on the Restatement Effective Date and as the same may be amended, modified or
supplemented from time to time in accordance with the terms hereof and thereof.

          “Existing 2009 Senior Notes Indenture” shall mean the Indenture, dated as of July 15,
1993, among the U.S. Borrower, any U.S. Subsidiary Guarantors from time to time party thereto and
the trustee therefor, as in effect on the Restatement Effective Date and as the same may be
amended, modified or supplemented from time to time in accordance with the terms hereof and
thereof.

 

			
	3	 	For informational purposes only, the Existing 2009 Senior Notes were repaid and
are no longer outstanding.

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          “Existing 2010 Senior Notes” shall mean the U.S. Borrower’s 7-1/4% Senior Notes
due 2010, issued pursuant to the Existing 2010 Senior Notes Indenture, as in effect on the
Restatement Effective Date and as the same may be amended, modified or supplemented from time to
time in accordance with the terms hereof and thereof.

          “Existing 2010 Senior Notes Documents” shall mean the Existing 2010 Senior Notes, the
Existing 2010 Senior Notes Indenture and all other documents executed and delivered with respect to
the Existing 2010 Senior Notes or Existing 2010 Senior Notes Indenture, as in effect on the
Restatement Effective Date and as the same may be amended, modified or supplemented from time to
time in accordance with the terms hereof and thereof.

          “Existing 2010 Senior Notes Indenture” shall mean the Indenture, dated as of May 29,
2003, among the U.S. Borrower, any U.S. Subsidiary Guarantors from time to time party thereto and
the trustee therefor, as in effect on the Restatement Effective Date and as the same may be
amended, modified or supplemented from time to time in accordance with the terms hereof and
thereof.

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

          “Existing 2013 Senior Notes Documents” shall mean the Existing 2013 Senior Notes, the
Existing 2013 Senior Notes Indenture and all other documents executed and delivered with respect to
the Existing 2013 Senior Notes or Existing 2013 Senior Notes Indenture, as in effect on the
Restatement Effective Date and as the same may be amended, modified or supplemented from time to
time in accordance with the terms hereof and thereof.

          “Existing 2013 Senior Notes Indenture” shall mean the Indenture, dated as of July 15,
1993, among the U.S. Borrower, any U.S. Subsidiary Guarantors from time to time party thereto and
the trustee therefor, as in effect on the Restatement Effective Date and as the same may be
amended, modified or supplemented from time to time in accordance with the terms hereof and
thereof.

          “Face Amount” of each Bank Guaranty shall, at any time, mean the maximum amount
payable thereunder (in each case determined without regard to whether any conditions to payment
could then be met, but after giving effect to all previous payments made thereunder),
provided that (x) except as such term is used in Section 2B.02, the “Face Amount” of each
Non-Dollar Denominated Bank Guaranty shall be, on any date of calculation, the Dollar Equivalent of
the maximum amount payable in the applicable Alternative Currency thereunder (determined without
regard to whether any conditions to payment could then be met but after giving effect to all
previous payments made thereunder) and (y) except for purposes of Sections 2B.02 and 3.01(d), the
definition of “Non-Dollar Denominated B/G Cushion Amount” and in determining the respective
proportional indemnification liabilities of the Secured Creditors to the Collateral Agent and/or
the Pledgee under the applicable Security Documents, the Face Amount of any Non-Dollar Denominated
Bank Guaranty (as otherwise determined above) shall be increased (at

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each time the Face Amount thereof is determined) by the Non-Dollar Denominated B/G Cushion
Amount for such Non-Dollar Denominated Bank Guaranty.

          “Facing Fee” shall have the meaning provided in Section 3.01(b).

          “Fair Market Value” shall mean, with respect to any asset, the price at which a
willing buyer, not an Affiliate of the seller, and a willing seller who does not have to sell,
would agree to purchase and sell such asset, as determined in good faith by the board of directors
or other governing body or, pursuant to a specific delegation of authority by such board of
directors or governing body, a designated senior executive officer of the U.S. Borrower or the
Subsidiary of the U.S. Borrower selling such asset.

          “Federal Funds Rate” shall mean, for any period, a fluctuating interest rate equal for
each day during such period to the weighted average of the rates on overnight Federal Funds
transactions with members of the Federal Reserve System arranged by Federal Funds brokers, as
published for such day (or, if such day is not a Business Day, for the next preceding Business Day)
by the Federal Reserve Lender of New York, or, if such rate is not so published for any day which
is a Business Day, the average of the quotations for such day on such transactions received by the
Administrative Agent from three Federal Funds brokers of recognized standing selected by the
Administrative Agent.

          “Fee Capped Foreign Subsidiary Guarantor” shall mean any Foreign Credit Party
organized under the laws of a jurisdiction in which (x) the guaranties and/or secured obligations
under the respective Credit Documents are not required by the laws of such jurisdiction to be
limited in any way and (y) the guaranties and/or secured obligations under the respective Credit
Documents have been voluntarily limited (at the request of such Foreign Credit Party) to reduce the
amount of registration, notorial or other fees, taxes or amounts payable in connection with the
recordation or perfection of the security interests purported to be created pursuant to the
relevant Security Documents.

          “Fees” shall mean all amounts payable pursuant to, or referred to in, Section 3.01.

          “First Priority” means, with respect to any Lien purported to be created on any
Collateral pursuant to any Security Document, that such Lien is prior in right to any other Lien
thereon, other than any Permitted Liens (excluding Permitted Liens as described in clause (iii) of
Section 9.03) applicable to such Collateral which as a matter of law (and giving effect to any
actions taken pursuant to the last paragraph of Section 9.03) have priority over the respective
Liens on such Collateral created pursuant to the relevant Security Document.

          “First Priority Secured Leverage Ratio” shall mean, on any date of determination, the
ratio of (i) Consolidated First Priority Secured Debt on such date to (ii) Consolidated EBITDA for
the Test Period most recently ended on or prior to such date; provided that for all
purposes of this Agreement, Consolidated EBITDA for purposes of the First Priority Secured Leverage
Ratio shall be determined on a Pro Forma Basis.

          “Fiscal Quarter” means, for any Fiscal Year, each of (i) the first twelve weeks of
such Fiscal Year, (ii) the thirteenth week of such Fiscal Year through the twenty-fourth week of
such Fiscal Year, (iii) the twenty-fifth week of such Fiscal Year through the forty-first week of

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such Fiscal Year and (iv) the forty-second week of such Fiscal Year through the last day of
such Fiscal Year, as the case may be. For purposes of this Agreement, a reference to the 1st
Fiscal Quarter of any Fiscal Year shall be a reference to the period referred to in clause (i)
above; a reference to the 2nd Fiscal Quarter of any Fiscal Year shall be a reference to the period
referred to in clause (ii) above; a reference to the 3rd Fiscal Quarter of any Fiscal Year shall be
a reference to the period referred to in clause (iii) above; and a reference to the 4th Fiscal
Quarter of any Fiscal Year shall be a reference to the period referred to in clause (iv) above.

          “Fiscal Year” means the fiscal year of the U.S. Borrower and its Subsidiaries ending
on the Saturday nearest to December 31 of each calendar year. For purposes of this Agreement, any
particular Fiscal Year shall be designated by reference to the calendar year in which the majority
of such Fiscal Year falls.

          “Foreign Asset Transfer” shall mean, collectively, (i) the transfer by Bermuda
Partnership Partner #1 or the Bermuda Partnership of shares of Transtrading Overseas Limited, (ii)
the transfer by the U.S. Borrower of shares of Dole Pacific General Services Ltd. and (iii) the
transfer by the U.S. Borrower of shares of Castle & Cooke Worldwide Limited, in each case to Dole
Foreign Holdings II Ltd. (or such other Foreign Subsidiary as is acceptable to the Administrative
Agent).

          “Foreign Credit Party” shall mean the Bermuda Borrower and each Foreign Subsidiary
Guarantor.

          “Foreign Credit Party Pledge Agreements” shall mean each Foreign Credit Party Pledge
Agreement (as defined in the Original Credit Agreement) entered into by a Foreign Credit Party
pursuant to the terms of the Original Credit Agreement and each other pledge agreement entered into
by a Foreign Credit Party pursuant to the terms hereof covering promissory notes and Equity
Interests and governed by the laws of the jurisdiction in which such Foreign Credit Party is
organized, in each case as the same may be amended, restated, modified and/or supplemented from
time to time in accordance with the terms thereof. Part A of Schedule XII sets forth a list of all
Foreign Credit Party Pledge Agreements in effect on the Restatement Effective Date (prior to giving
effect to the Foreign Security Document Acknowledgments and/or Amendments).

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

          “Foreign Pledge Agreement” shall mean and include the Local Law Pledge Agreements and
the Foreign Credit Party Pledge Agreements.

          “Foreign Security Agreements” shall mean each Foreign Security Agreement (as defined
in the Original Credit Agreement) entered into by a Foreign Credit Party pursuant to the

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terms of the Original Credit Agreement, each Replacement Foreign Security Agreement and each
other security agreement, pledge agreement, mortgage, debenture, deed of charge, document and/or
instrument entered into by a Foreign Credit Party pursuant to the terms hereof covering tangible
and intangible assets (including receivables, contract rights, securities, inventory, equipment,
real estate, leasehold interests, vessels, insurances, and material patents, trademarks and other
intellectual property but excluding Excluded Collateral) owned by such Foreign Credit Party and
governed by the laws of the jurisdiction in which such Foreign Credit Party is organized, in each
case as the same may be amended, restated, modified and/or supplemented from time to time in
accordance with the terms thereof. Part C of Schedule XII sets forth a list of all Replacement
Foreign Security Agreements and all other Foreign Security Agreements in effect on the Restatement
Effective Date (prior to giving effect to the Foreign Security Document Acknowledgment and/or
Amendments).

          “Foreign Security Document” shall mean each Security Document other than a U.S.
Security Document (including, without limitation, each Foreign Pledge Agreement and each Foreign
Security Agreement).

          “Foreign Security Document Acknowledgement and/or Amendment” shall mean each
acknowledgement and/or amendment dated as of the Restatement Effective Date, executed and delivered
by each of the Credit Parties with respect to each Foreign Security Document to which it is a
party.

          “Foreign Subsidiaries Guaranty” shall mean the Foreign Subsidiaries Guaranty, dated as
of March 28, 2003, made by the Foreign Subsidiaries of the U.S. Borrower party thereto in favor of
the Administrative Agent including any counterpart thereof and any other similar guaranty executed
and delivered by any Foreign Subsidiary of the U.S. Borrower pursuant to Sections 8.11 or 9.11, in
each case, as the same may be amended, restated, modified and/or supplemented from time to time in
accordance with the terms thereof. A copy of the Foreign Subsidiaries Guaranty as in effect on the
Restatement Effective Date is attached hereto as Exhibit G-3.

          “Foreign Subsidiaries Guaranty Acknowledgement” shall mean the acknowledgment, dated
as of the Restatement Effective Date, executed and delivered by each Wholly-Owned Foreign
Subsidiary of the U.S. Borrower in the form of Exhibit G-2, which Foreign Subsidiaries Guaranty
Acknowledgment contain, among other things, (i) an acknowledgment of this Agreement and the
transactions contemplated hereby, (ii) an acknowledgement that the “Obligations” (as defined in the
Foreign Subsidiaries Guaranty) include all of the Obligations of the Bermuda Borrower under this
Agreement after giving effect to the Restatement Effective Date, and (iii) an acknowledgment that,
after giving effect to the Restatement Effective Date, the Foreign Subsidiaries Guaranty shall
remain in full force and effect in accordance with its terms.

          “Foreign Subsidiary” shall mean, as to any Person, any Subsidiary of such Person that
is not a Domestic Subsidiary of such Person.

          “Foreign Subsidiary Guarantor” shall mean each Foreign Subsidiary of the U.S. Borrower
(other than the Bermuda Borrower and any Non-Guarantor Subsidiary) which executes and delivers a
Foreign Subsidiaries Guaranty, unless and until such time as the respective Foreign Subsidiary ceases to constitute a Foreign Subsidiary or is released from all of its
obligations

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under its Foreign Subsidiaries Guaranty in accordance with the terms and provisions
thereof; provided that each Subsidiary of the U.S. Borrower organized under the laws of
Colombia which is a party to the Special Colombian Put Note Agreement shall be treated as a
“Foreign Subsidiary Guarantor” for all purposes of this Agreement, unless and until such time as
the respective Subsidiary ceases to constitute a Subsidiary or is released from all of its
obligations under the Special Colombian Put Note Agreement.

          “Foreign Unrestricted Subsidiary” of any Person shall mean any Foreign Subsidiary of
such Person that is an Unrestricted Subsidiary.

          “Fronting Fee” shall have the meaning provided in Section 3.01(d).

          “Gaston Property” shall have the meaning provided in Section 9.02(xix).

          “Guaranteed Creditors” shall mean and include each of the Agents, the Collateral
Agent, the Lenders, the Issuing Lenders, the Bank Guaranty Issuers and each Person (other than any
Credit Party or any of its Subsidiaries) party to an Interest Rate Protection Agreement or Other
Hedging Agreement with a Borrower and/or one or more of each Borrower’s Subsidiaries, to the extent
that such Person constitutes a Secured Creditor under the Security Documents.

          “Guarantors” shall mean and include each Credit Agreement Party and each Subsidiary
Guarantor.

          “Guaranty” shall mean and include each Credit Agreement Party Guaranty and each
Subsidiaries Guaranty.

          “Hazardous Materials” shall mean (a) any petrochemical or petroleum products,
radioactive materials, asbestos in any form that is or could become friable, urea formaldehyde foam
insulation, transformers or other equipment that contain dielectric fluid containing levels of
polychlorinated biphenyls, and radon gas; and (b) any chemicals, materials or substances defined as
or included in the definition of “hazardous substances,” “hazardous wastes,” “hazardous materials,”
“restricted hazardous materials,” “extremely hazardous wastes,” “restrictive hazardous wastes,”
“toxic substances,” “toxic pollutants,” “contaminants” or “pollutants,” or words of similar meaning
and regulatory effect.

          “Holdings” shall have the meaning provided in the first paragraph of this Agreement.

          “Incremental Term Loan” shall have the meaning provided in Section 1.01(c).

          “Incremental Term Loan Borrower” shall mean (x) the U.S. Borrower, with respect to
U.S. Borrower Incremental Term Loans and (y) the Bermuda Borrower, with respect to Bermuda Borrower
Incremental Term Loans.

          “Incremental Term Loan Borrowing Date” shall mean, with respect to each Tranche of
Incremental Term Loans, each date on which Incremental Term Loans of such Tranche are incurred
pursuant to Section 1.01(c) and as otherwise permitted by Section 1.15.

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          “Incremental Term Loan Commitment” shall mean, for each Lender, any commitment to make
Incremental Term Loans provided by such Lender pursuant to Section 1.15, in such amount as agreed
to by such Lender in the respective Incremental Term Loan Commitment Agreement and as set forth
opposite such Lender’s name in Schedule I (as modified in accordance with Section 1.15) directly
below the column entitled “Incremental Term Loan Commitment,” as the same may be (x) reduced from
time to time or terminated pursuant to Sections 3.02, 3.03, 4.02 and/or 10 or (y) adjusted from
time to time as a result of assignments to and from such Lender pursuant to Sections 1.13 and/or
13.04(b).

          “Incremental Term Loan Commitment Agreement” shall mean each Incremental Term Loan
Commitment Agreement in the form of Exhibit P (appropriately completed) executed in accordance with
Section 1.15.

          “Incremental Term Loan Commitment Request Requirements” shall mean, with respect to
any request for an Incremental Term Loan Commitment made pursuant to Section 1.15, the satisfaction
of each of the following conditions on the date of such request: (x) no Default or Event of
Default then exists or would result therefrom (for purposes of such determination, assuming the
relevant Loans in an aggregate principal amount equal to the full amount of Incremental Term Loan
Commitments then requested had been incurred, and the proposed Permitted Acquisition (if any) to be
financed with the proceeds of such Loans had been consummated, on such date of request) and all of
the representations and warranties contained herein and in the other Credit Documents are true and
correct in all material respects at such time (unless stated to relate to a specific earlier date,
in which case such representations and warranties shall be true and correct in all material
respects as of such earlier date); (y) calculations are made by the U.S. Borrower of compliance
with the Total Leverage Ratio and the Senior Secured Leverage Ratio set forth in Section 9.04(a)
(assuming (and immediately after) the full utilization of the requested Incremental Term Loan
Commitments and the consummation of the proposed Permitted Acquisition (if any) to be financed with
the proceeds of the Loans pursuant thereto (as well as all other Permitted Acquisitions and
Significant Asset Sales theretofore consummated after the first day of the respective Calculation
Period) regardless of whether any Indebtedness is then being incurred pursuant to said Section
9.04(a)) for the Calculation Period most recently ended prior to the date of the requested
Incremental Term Loan Commitments, as set forth in a certificate by an Authorized Officer of the
U.S. Borrower furnished to the Administrative Agent on the date of such request, and such
calculations shall show that, after giving effect to the foregoing assumptions in this clause (y)
and any additional Indebtedness being incurred in connection therewith, the U.S. Borrower would be
in compliance with each of the Total Leverage Ratio and the Senior Secured Leverage Ratio as set
forth in Section 9.04(a) as at the last day of such Calculation Period on a Pro Forma Basis; and
(z) no Incremental Term Loan Commitments are then outstanding, unless the full amount such
Incremental Term Loan Commitments will be utilized on the date of the effectiveness of the
Incremental Term Loan Commitment Agreement to be entered into in connection with the Incremental
Term Loan Commitments of the new Tranche then being requested.

          “Incremental Term Loan Commitment Requirements” shall mean, with respect to any
provision of an Incremental Term Loan Commitment on a given Incremental Term Loan Commitment Date,
the satisfaction of each of the following conditions on or prior to the effective date of the
respective Incremental Term Loan Commitment Agreement: (r) no Default or Event

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of Default then exists or would result therefrom (for purposes of such determination, assuming
the relevant Loans in an aggregate principal amount equal to the full amount of Incremental Term
Loan Commitments then provided had been incurred, and the proposed Permitted Acquisition (if any)
to be financed with the proceeds of such Loans had been consummated, on such date of effectiveness)
and all of the representations and warranties contained herein and in the other Credit Documents
are true and correct in all material respects at such time (unless stated to relate to a specific
earlier date, in which case such representations and warranties shall be true and correct in all
material respects as of such earlier date); (s) calculations are made by the U.S. Borrower of
compliance with the Total Leverage Ratio and the Senior Secured Leverage Ratio set forth Section
9.04(a) (assuming (and immediately after) the full utilization of the requested Incremental Term
Loan Commitments and the consummation of the proposed Permitted Acquisition (if any) to be financed
with the proceeds of the Loans pursuant thereto (as well as all other Permitted Acquisitions and
Significant Asset Sales theretofore consummated after the first day of the respective Calculation
Period) regardless of whether any Indebtedness is then being incurred pursuant to said Section
9.04(a)) for the Calculation Period most recently ended prior to the date of the requested
Incremental Term Loan Commitments, as set forth in a certificate by an Authorized Officer of the
U.S. Borrower furnished to the Administrative Agent on the date of such request, and such
calculations shall show that, after giving effect to the foregoing assumptions in this clause (s)
and any additional Indebtedness being incurred in connection therewith, the U.S. Borrower would be
in compliance with each of the Total Leverage Ratio and the Senior Secured Leverage Ratio as set
forth in Section 9.04(a) as at the last day of such Calculation Period on a Pro Forma Basis; (t)
the delivery by the U.S. Borrower to the Administrative Agent of an officer’s certificate executed
by an Authorized Officer of the U.S. Borrower and certifying as to compliance with preceding
clauses (r) and (s) and containing the calculations required by clause (s); (u) the delivery by the
U.S. Borrower to the Administrative Agent of an officer’s certificate executed by an Authorized
Officer of the U.S. Borrower certifying which provisions of the ABL Credit Agreement, the Existing
2009 Senior Notes Indenture, the Existing 2013 Senior Notes Indenture, the Existing 2010 Senior
Notes Indenture, the Existing 2011 Senior Notes Indenture, and (after the execution and delivery
thereof) each Permitted Senior Notes Indenture and each Permitted Senior Refinancing Notes Document
that the respective incurrence of Incremental Loans will be justified under and demonstrating in
reasonable detail that the full amount of such Incremental Term Loans may be incurred in accordance
with, and will not violate the provisions of, the ABL Credit Agreement, the Existing 2009 Senior
Notes Indenture, the Existing 2013 Senior Notes Indenture, the Existing 2010 Senior Notes
Indenture, the Existing 2011 Senior Notes Indenture, and (after the execution and delivery thereof)
each Permitted Senior Notes Indenture and each Permitted Senior Refinancing Notes Document; (v) the
delivery by the U.S. Borrower to the Administrative Agent of an acknowledgement in form and
substance reasonably satisfactory to the Administrative Agent and executed by each Guarantor (in
the case of an Incremental Term Loan Commitment requested by the Bermuda Borrower) or each U.S.
Credit Party other than the U.S. Borrower (in the case of an Incremental Term Loan Commitment
requested by the U.S. Borrower), as the case may be, acknowledging that such Increme
ntal Term Loan
Commitment and all Loans subsequently incurred pursuant to such Incremental Term Loan Commitment
shall constitute (and be included in the definition of) “Guaranteed Obligations” under each
Guaranty of such Guarantor; (w) the delivery by the U.S. Borrower and its Subsidiaries of such
technical amendments, modifications and/or supplements to the respective Security Documents as are
reasonably requested by the Administrative Agent to ensure that the additional Obligations to

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be incurred pursuant to the Incremental Term Loan Commitments are secured by, and entitled to
the benefits of, the relevant Security Documents, and each of the Lenders hereby agrees to, and
authorizes the Collateral Agent to enter into, any such technical amendments, modifications and/or
supplements; (x) the delivery by the U.S. Borrower to the Administrative Agent of an opinion or
opinions, in form and substance reasonably satisfactory to the Administrative Agent, from counsel
to the Credit Parties reasonably satisfactory to the Administrative Agent and dated such date,
covering such of the matters set forth in the opinions of counsel delivered to the Administrative
Agent on the Initial Borrowing Date pursuant to Section 5.03 of the Original Credit Agreement as
may be reasonably requested by the Administrative Agent, and such other matters incident to the
transactions contemplated thereby as the Administrative Agent may reasonably request; (y) the
delivery by the U.S. Borrower and the other Credit Parties to the Administrative Agent of such
other officers’ certificates, resolutions and evidence of good standing as the Administrative Agent
shall reasonably request; and (z) the completion by the U.S. Borrower and the other Credit Parties
of such other actions as the Administrative Agent may reasonably request in connection with such
Incremental Term Loan Commitment, it being understood and agreed that the Administrative Agent may
(in its sole discretion) agree that the delivery of technical amendments, modifications and/or
supplements to the respective Security Documents pursuant to sub-clause (w) of the preceding
sentence may occur after the incurrence of Loans to be made pursuant to the respective Incremental
Term Loan Commitments (subject to a time frame to be agreed by the Administrative Agent), in which
case said sub-clause (w) will be deemed satisfied at the time of the incurrence of such Loans, so
long as such technical amendments, modifications and/or supplements to the respective Security
Documents are subsequently delivered within the time frame stipulated by the Administrative Agent.

          “Incremental Term Loan Commitment Termination Date” shall mean, with respect to any
Tranche of Incremental Term Loans, the last date by which Incremental Term Loans under such Tranche
may be incurred under this Agreement, which date shall be set forth in the respective Incremental
Term Loan Commitment Agreement but may be no later than the date which is 12 months prior to the
then latest Maturity Date.

          “Incremental Term Loan Lender” shall have the meaning provided in Section 1.15(b).

          “Incremental Term Loan Maturity Date” shall mean, for any Tranche of Incremental Term
Loans, the final maturity date set forth for such Tranche of Incremental Term Loans in the
respective Incremental Term Loan Commitment Agreement relating thereto, provided that the
final maturity date for all Incremental Term Loans of a given Tranche shall be the same date.

          “Incremental Term Loan Scheduled Repayment” shall have the meaning provided in Section
4.02(b)(iii).

          “Incremental Term Note” shall have the meaning provided in Section 1.05(a).

          “Indebtedness” shall mean, as to any Person, without duplication, (i) all indebtedness
(including principal, interest, fees and charges) of such Person for borrowed money or for the
deferred purchase price of property or services, (ii) the maximum amount available to be drawn or
paid under all letters of credit, bankers’ acceptances, bank guaranties and similar obli-

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gations issued for the account of such Person and all unpaid drawings and unreimbursed
payments in respect of such letters of credit, bankers’ acceptances, bank guaranties and similar
obligations, (iii) all indebtedness of the types described in clause (i), (ii), (iv), (v), (vi) or
(vii) of this definition secured by any Lien on any property owned by such Person, whether or not
such indebtedness has been assumed by such Person (provided that, if the Person has not
assumed or otherwise become liable in respect of such indebtedness, such indebtedness shall be
deemed to be in an amount equal to the fair market value of the property to which such Lien relates
as determined in good faith by such Person), (iv) the aggregate amount of all Capitalized Lease
Obligations of such Person, (v) all obligations of such Person to pay a specified purchase price
for goods or services, whether or not delivered or accepted, i.e., take-or-pay and similar
obligations, (vi) all Contingent Obligations of such Person, and (vii) all obligations under any
Interest Rate Protection Agreement, any Other Hedging Agreement, Commodity Agreements or under any
similar type of agreement and (viii) obligations arising under Synthetic Leases. Notwithstanding
the foregoing, Indebtedness shall not include trade payables, accrued expenses and deferred tax and
other credits incurred by any Person in accordance with customary practices and in the ordinary
course of business of such Person.

          “Indemnified Person” shall have the meaning provided in Section 13.01.

          “Individual CL Exposure” of any CL Lender shall mean, at any time, such CL Lender’s
applicable CL Percentage of the Aggregate CL Exposure.

          “Initial Borrowing Date” shall have the meaning provided in the Original Credit
Agreement.

          “Intercompany Debt” shall mean any Indebtedness, payables or other obligations,
whether now existing or hereafter incurred, owed by the U.S. Borrower or any Subsidiary of the U.S.
Borrower to the U.S. Borrower or any other Subsidiary of the U.S. Borrower.

          “Intercompany Distribution Transaction Documents” shall mean all of the documents and
instruments entered into in connection with the Intercompany Distribution Transactions, in each
case as the same may be amended, modified or supplemented from time to time in accordance with the
terms hereof and thereof.

          “Intercompany Distribution Transactions” shall have the meaning provided in Section
5.09(b) of the Original Credit Agreement.

          “Intercompany Note” shall mean a promissory note evidencing intercompany loans made
pursuant to Section 9.05(vi), in each case duly executed and delivered substantially in the form of
Exhibit K, with blanks completed in conformity herewith (or such other form as may be approved by
the Administrative Agent or the Required Lenders).

          “Intercompany Receivables Documents” shall mean those certain intercompany purchase
agreements, dated as of March 28, 2003, entered into by the U.S. Borrower and the Bermuda
Partnership Partners, providing for the sale of accounts receivable by the Bermuda Partnership
Partners to, and the purchase of accounts receivable by, the U.S. Borrower, which sale arrangements
shall be on a non-recourse basis and for reasonably equivalent value and oth-

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erwise on terms satisfactory to the Agents, as the same may be amended, modified and/or
supplemented from time to time.

          “Intercompany Scheduled Existing Indebtedness” shall have the meaning provided in
Section 7.21.

          “Intercompany Subordination Agreement” shall mean the Intercompany Subordination
Agreement, dated as of March 28, 2003, made by Holdings and various of its Subsidiaries party
thereto in favor of the Administrative Agent, as the same may be amended, restated, modified and/or
supplemented from time to time in accordance with the terms thereof (including, without limitation,
as modified by the Intercompany Subordination Agreement Acknowledgement). A copy of the
Intercompany Subordination Agreement as in effect on the Restatement Effective Date is attached
hereto as Exhibit O-2.

          “Intercompany Subordination Agreement Acknowledgement” shall mean the acknowledgment
in the form of Exhibit O-1, dated as of the Restatement Effective Date, executed and delivered by
each Credit Party and each other Subsidiary of Holdings which is an obligee or obligor with respect
to any Intercompany Debt (other than those Non-Wholly-Owned Subsidiaries listed on Part D of
Schedule XII).

          “Intercreditor Agreement” shall mean an amended and restated intercreditor agreement
substantially in the form of Exhibit B to Amendment 1, by and among the Collateral Agent,
the ABL Collateral Agent, each Credit Party, each ABL Credit Party and the collateral agent for any
Permitted Refinancing Senior Notes that are secured by a Lien on any Collateral, as the same may be
amended, modified, restated and/or supplemented from time to time; provided, that prior to the
effectiveness of such amended and restated intercreditor agreement, “Intercreditor Agreement” shall
have the meaning set forth in this Agreement prior to giving effect to this Amendment 1.

          “Interest Determination Date” shall mean, with respect to any Eurodollar Loan, the
second Business Day prior to the commencement of any Interest Period relating to such Eurodollar
Loan.

          “Interest Period” shall mean (i) with respect to any Eurodollar Loan, the interest
period applicable thereto, as determined pursuant to Section 1.09 and (ii) as to any investment of
the Credit-Linked Deposits, the period commencing on the Restatement Effective Date and ending on
the date that is one month thereafter and each successive one month period thereafter,
provided that (x) if any Interest Period for the Credit-Linked Deposits begins on a day for
which there is no numerically corresponding day in the calendar month at the end of such Interest
Period, such Interest Period shall end on the last Business Day of such calendar month, and (y) if
any Interest Period for the Credit-Linked Deposits would otherwise expire on a day which is not a
Business Day, such Interest Period shall expire on the next succeeding Business Day, although if
any Interest Period for the Credit-Linked Deposits would otherwise expire on a day which is not a
Business Day but is a day of the month after which no further Business Day occurs in such month,
such Interest Period shall expire on the next preceding Business Day.

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          “Interest Rate Protection Agreement” shall mean any interest rate swap agreement,
interest rate cap agreement, interest rate collar agreement, interest rate hedging agreement,
interest rate floor agreement or other similar agreement or arrangement.

          “Intermediate Holdco” shall have the meaning provided in the recitals of this
Agreement.

          “Intermediate Holdco Paying Agent” shall have the meaning provided in Section 5.08(a)
of this Agreement as of the Restatement Effective Date.

          “Intermediate Holdco Prepayment Consummation” shall have the meaning provided in
Section 8.21 of this Agreement as of the Restatement Effective Date.

          “Intermediate Holdco Refinancing” shall have the meaning provided in Section 5.08 of
this Agreement as of the Restatement Effective Date.

          “Investment” shall have the meaning provided in the preamble to Section 9.05.

          “IPO Merger” shall mean the merger of Holdings into the U.S. Borrower with the U.S.
Borrower being the surviving corporation, immediately following which all assets and liabilities
that were assets and liabilities of Holdings and its Subsidiaries (other than the U.S. Borrower and
its Subsidiaries) that are not extinguished as a direct result of such merger become assets and
liabilities of the U.S. Borrower and its Subsidiaries.

          “IPO Transactions” shall mean the following transactions, all of which shall be
required to be consummated on a single Business Day (other than (x) the issuance of U.S. Borrower
Common Stock pursuant to the underwriters’ over-allotment option as described in the Registration
Statement dated as of August 14, 2009 of the U.S. Borrower, as amended (the “Registration
Statement”), (y) the transactions set forth in clause (iii) below which may be consummated
following such date and (z) any Debt Repayment contemplated by clause (ii) of the definition of
“Debt Repayment” which may be consummated within 60 days of the consummation of the initial public
offering contemplated by clause (v) below): (i) the contribution of certain Equity Interests of
Westlake Wellbeing Company by Holdings to the U.S. Borrower, (ii) the IPO Merger, (iii) the
distribution of the Distributed Assets to the holders of U.S. Borrower Common Stock who were
holders of such stock immediately following the IPO Merger, (iv) the amendment of the certificate
of incorporation of the U.S. Borrower in the form attached as Exhibit 3.1(ii) to the Registration
Statement, (v) the issuance and sale of U.S. Borrower Common Stock to the Underwriters (as defined
in the underwriting agreement attached to the Registration Statement) in an initial public offering
pursuant to a primary offering of such shares registered under the Securities Act and (vi) the
application of the net cash proceeds from the issuance and sale of U.S. Borrower Common Stock
received by the U.S. Borrower pursuant to the initial public offering (after payment of fees and
expenses) to consummate the Debt Repayment; provided that after giving effect to the IPO
Transactions, (x) the U.S. Borrower’s shareholders’ equity would be greater than the U.S.
Borrower’s shareholders’ equity immediately prior to the IPO Transactions and (y) the U.S. Borrower
and its Subsidiaries shall not have any Indebtedness for borrowed money that was, prior to giving
effect to the IPO Transactions, Indebtedness of Holdings and its Subsidiaries (other than the U.S.
Borrower and its Subsidiaries). As the context re-

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quires, all references in this Agreement and the other Credit Documents to (i) “Intermediate
Holdco” after the merger of Intermediate Holdco into Holdings (which occurred in May 2009), shall
be references to Holdings and (ii) to “Holdings” after the IPO Merger, shall be references to the
U.S. Borrower.

          “Issuing Lender” shall mean (i) if and to the extent it agrees to act as such, any
Agent (and any of such Agent’s affiliates and/or branches), (ii) any ABL Lender (and any of such
ABL Lender’s affiliates and/or branches) or any CL Lender (and any of such CL Lender’s affiliates
and/or branches) which at the request of the U.S. Borrower or the Bermuda Borrower and with the
consent of the Administrative Agent agrees, in such ABL Lender’s or CL Lender’s (or their
respective affiliate’s or branch’s) sole discretion, to become an Issuer Lender for the purpose of
issuing Letters of Credit pursuant to Section 2A and (iii) with respect to the Existing Letters of
Credit, the Lender or Original Lender (and any of such Lender’s or Original Lender’s affiliates
and/or branches) designated as the issuer thereof on Part A of Schedule XI shall be the Issuing
Lender thereof.

          “Italian Collateral Documents” shall have the meaning provided in Section 12.15(i).

          “Judgment Currency” shall have the meaning provided in Section 13.22(a).

          “Judgment Currency Conversion Date” shall have the meaning provided in Section
13.22(a).

          “Landlord-Lender Agreement” shall mean each agreement between a landlord of each U.S.
Leasehold Property and the Collateral Agent entered into pursuant to the terms of this Agreement.

          “L/C Participant” shall have the meaning provided in Section 2A.04(a).

          “L/C Participation” shall have the meaning provided in Section 2A.04(a).

          “L/C Supportable Indebtedness” shall mean (i) obligations of the U.S. Borrower or its
Wholly-Owned Subsidiaries incurred in the ordinary course of business with respect to insurance
obligations and workers’ compensation, surety bonds and other similar statutory obligations, (ii)
obligations of the U.S. Borrower and its Wholly-Owned Subsidiaries under bank guaranties issued by
financial institutions in support of obligations of the U.S. Borrower and its Wholly-Owned
Subsidiaries otherwise permitted to exist pursuant to the terms of this Agreement and (iii) such
other obligations of the U.S. Borrower or any of its Wholly-Owned Subsidiaries as are reasonably
acceptable to the Administrative Agent and the respective Issuing Lender and otherwise permitted to
exist pursuant to the terms of this Agreement.

          “Lead Arranger” shall mean DBSI, each in its capacity as Lead Arranger and Sole Book
Runner.

          “Leasehold” of any Person shall mean all of the right, title and interest of such
Person as lessee or licensee in, to and under leases or licenses of land, improvements and/or
fixtures.

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          “Leasehold Property” shall mean each Real Property leased by the U.S. Borrower or any
of its Subsidiaries and for which Landlord-Lender Agreements shall be required pursuant to this
Agreement.

          “Lender” shall mean and include each financial institution with a Commitment (or
Original Tranche B Term Loans to be converted into Tranche C Term Loans on the Restatement
Effective Date) listed on Schedule I (as amended from time to time), as well as any Person that
becomes a “Lender” hereunder pursuant to Sections 1.13, 1.15 and/or 13.04(b). Unless the context
otherwise requires, each reference in this Agreement to a Lender includes each lending office
(including any Affiliate of the respective Lender) of the respective Lender designated from time to
time pursuant to Section 1.12.

          “Lender Default” shall mean (i) the wrongful refusal (which has not been retracted) of
a Lender to make available its portion of any Borrowing, to fund its portion of any unreimbursed
payment under Sections 2A.04 or 2B.04 or (ii) a Lender having notified the Administrative Agent
and/or any Credit Agreement Party that it does not intend to comply with its obligations under
Sections 1.01, 2A.03 or 2B.03 in circumstances where such non-compliance would constitute a breach
of such Lender’s obligations under the respective Section.

          “Letter of Credit” shall have the meaning provided in Section 2A.01(a).

          “Letter of Credit Outstandings” shall mean, at any time, the sum of (i) the aggregate
Stated Amount of all outstanding Letters of Credit which have not terminated at such time and (ii)
the aggregate amount of all Unpaid Drawings in respect of all Letters of Credit at such time.

          “Letter of Credit Request” shall have the meaning provided in Section 2A.03(a).

          “LIBOR Rate” shall mean, for any Interest Period with respect to the investment of the
Credit-Linked Deposits, the rate for deposits in Dollars for a period of one month which appears on
Telerate Page 3750 (or any successor page) as of 11:00 A.M. (London time) on the day that is two
Business Days preceding the beginning of such Interest Period. If such rate does not appear on
Telerate Page 3750 (or any successor page), the rate for that Interest Period will be the rate
determined in good faith by the Administrative Agent on the basis of the rates at which deposits in
Dollars are offered by four major banks in the London interbank market at approximately 11:00 A.M.
(London time), on the day that is two Business Days preceding the beginning of the new Interest
Period to prime banks in the London interbank market for a period of one month commencing on the
beginning of the new Interest Period and in the then outstanding amount of the Credit-Linked
Deposits. The Administrative Agent will request the principal London office of each of such four
major banks in the London interbank market to provide a quotation of its rate. If at least two
such quotations are provided, the rate for that new Interest Period will be the arithmetic mean of
the quotations. If fewer than two quotations are provided as requested, the rate for that Interest
Period will be the arithmetic mean of the rates quoted by major banks in New York City, selected by
the Administrative Agent, at approximately 11:00 A.M. (New York City time), on the beginning of the
new Interest Period for loans in Dollars to leading European banks for a period of one month
commencing on the beginning of the new Interest Period and in the amount of the Credit-Linked
Deposits.

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          “Lien” shall mean any mortgage, pledge, hypothecation, assignment, deposit
arrangement, security interest, encumbrance, lien (statutory or other), charge, preference,
priority or other security agreement of any kind or nature whatsoever (including any agreement to
give any of the foregoing, any conditional sale or other title retention agreement, any financing
or similar statement or notice filed under the UCC or any similar recording or notice statute, and
any lease having substantially the same effect as the foregoing).

          “Loan” shall mean each Tranche B Term Loan, each Tranche C Term Loan and each
Incremental Term Loan.

          “Local Law Pledge Agreements” shall mean the Local Law Pledge Agreements (as defined
in the Original Credit Agreement) entered into pursuant to the Original Credit Agreement and any
other pledge agreement entered into by a Credit Party pursuant to this Agreement (x) covering
promissory notes of, and/or Equity Interests in, one or more Persons organized under the laws of a
different jurisdiction from the jurisdiction of organization of such Credit Party and (y) governed
by the laws of the jurisdiction or jurisdictions in which the Person or Persons whose promissory
notes or Equity Interests are being pledged is (or are) organized, in each case as the same may be
amended, restated, modified and/or supplemented from time to time in accordance with the terms
thereof. Part B of Schedule XII sets forth a list of all Local Law Pledge Agreements in effect on
the Restatement Effective Date.

          “Majority Lenders” of any Tranche shall mean those Non-Defaulting Lenders which would
constitute the Required Lenders under, and as defined in, this Agreement if all outstanding
Obligations of the other Tranches under this Agreement were repaid in full and all Commitments with
respect thereto were terminated.

          “Management Agreements” shall mean all material written agreements (including
employment agreements but limited to those of executive management and division presidents) entered
into by Holdings or any of its Subsidiaries with respect to the management of Holdings or any of
its Subsidiaries after giving effect to the Transaction (including consulting agreements and other
management advisory agreements, together with any agreements referred to in Section 5.13(ii) of the
Original Credit Agreement that continue to be in effect on the Restatement Effective Date, and any
amendments thereto made in accordance with the terms thereof and hereof.

          “Margin Regulations” shall mean, collectively, Regulation T, Regulation U and
Regulation X.

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

          “Material Adverse Effect” shall mean (i) a material adverse effect on the business,
properties, assets, nature of assets, operations, liabilities, condition (financial or otherwise)
or prospects of the U.S. Borrower and its Subsidiaries taken as a whole or (ii) a material adverse
effect (x) on the rights or remedies of the Lenders or any Agent hereunder or under any other
Credit Document or (y) on the ability of any Credit Party to perform its obligations to the Lenders
or any Agent hereunder or under any other Credit Document; provided that the occurrence of
an Excluded Event shall not constitute a “Material Adverse Effect” for purposes of this definition.

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          “Material Foreign Subsidiary” shall mean, at any time, any Foreign Subsidiary of the
U.S. Borrower the net book value of the assets of which equals or exceeds $5,000,000 at such time;
provided that for purposes of (and only of) Section 8.01(i), the term “Material Foreign
Subsidiary” shall mean, at any time, any Foreign Subsidiary of the U.S. Borrower the net book value
of the assets of which equals or exceeds $10,000,000 at such time.

          “Material Governmental Investigation” shall mean, at any time, any material
governmental investigation in a country in which the aggregate net book value of the assets owned
by the U.S. Borrower and its Subsidiaries in such country (determined as of the last day of the
Fiscal Quarter then last ended) exceeds $25,000,000.

          “Maturity Date” shall mean (i) with respect to Tranche B Term Loans, the Tranche B/C
Term Loan Maturity Date, (ii) with respect to Tranche C Term Loans, the Tranche B/C Term Loan
Maturity Date, (iii) with respect to Incremental Term Loans of a given Tranche, the respective
Incremental Term Loan Maturity Date therefor, and (iv) with respect to the CL Tranche, the CL
Maturity Date.

          “Maximum Incremental Term Loan Commitment Amount” shall mean $250,000,000.

          “Maximum Permitted Consideration” shall mean, with respect to any Permitted
Acquisition, the sum (without duplication) of (i) the fair market value of U.S. Borrower Common
Stock (based on the average closing trading price of U.S. Borrower Common Stock for the 20 trading
days immediately prior to the date of such Permitted Acquisition on the stock exchange on which
U.S. Borrower Common Stock is listed or, if U.S. Borrower Common Stock is not so listed, the good
faith determination of the senior management of the U.S. Borrower) issued (or to be issued) as
consideration in connection with such Permitted Acquisition (including, without limitation, U.S.
Borrower Common Stock which may be required to be issued as earnout consideration upon the
achievement of certain future performance goals of the respective Acquired Entity or Business),
(ii) the aggregate amount of all cash paid (or to be paid) by the U.S. Borrower or any of its
Subsidiaries in connection with such Permitted Acquisition (including, without limitation, payments
of fees and costs and expenses in connection therewith) and all contingent cash purchase price or
other earnout obligations of the U.S. Borrower and its Subsidiaries incurred in connection
therewith (as determined in good faith by the U.S. Borrower), (iii) the aggregate principal amount
of all Indebtedness assumed, incurred and/or issued in connection with such Permitted Acquisition
to the extent permitted by Section 9.04 and (iv) the fair market value (determined in good faith by
senior management of the U.S. Borrower) of all other consideration payable in connection with such
Permitted Acquisition.

          “Minimum Applicable Facing Fee” shall mean $500.

          “Minimum Applicable Fronting Fee” shall mean $500.

          “Minimum Borrowing Amount” shall mean, for any Loans, $5,000,000.

          “Moody’s” shall mean Moody’s Investors Service, Inc.

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          “Mortgage” shall mean each mortgage, deed of trust or deed to secure debt required to
be delivered with respect to any Real Property pursuant to the terms of this Agreement (including,
after the execution and delivery thereof, each Additional Mortgage covering a Mortgaged Property),
together with any assignment of leases and rents to be executed in connection therewith, in each
case as the same may be amended, modified and/or supplemented from time to time in accordance with
the terms hereof and thereof.

          “Mortgage Policy” shall mean each mortgage title insurance policy (and all
endorsements thereto) for each Mortgaged Property required to be delivered pursuant to this
Agreement.

          “Mortgaged Property” shall mean each Real Property owned by the U.S. Borrower or any
of its Subsidiaries and required to be mortgaged pursuant to this Agreement (including, after the
execution and delivery of any Additional Mortgage covering Real Property, the respective Additional
Mortgaged Property).

          “Multiemployer Plan” shall mean (i) any plan, as defined in Section 4001(a)(3) of
ERISA, which is maintained or contributed to (or to which there is an obligation to contribute to)
by the U.S. Borrower or a Subsidiary of the U.S. Borrower or an ERISA Affiliate and that is subject
to Title IV of ERISA, and (ii) each such plan for the five year period immediately following the
latest date on which the U.S. Borrower, a Subsidiary of the U.S. Borrower or an ERISA Affiliate
maintained, contributed to or had an obligation to contribute to such plan.

          “Net Cash Proceeds” shall mean for any event requiring a reduction of the Total
Incremental Term Loan Commitment and/or Total Credit-Linked Commitment and/or repayment of Term
Loans pursuant to Section 3.03 or 4.02, as the case may be, the gross cash proceeds (including any
cash received by way of deferred payment pursuant to a promissory note, receivable or otherwise,
but only as and when received) received from such event, net of reasonable transaction costs
(including, as applicable, any underwriting, brokerage or other customary commissions and
reasonable legal, advisory and other fees and expenses associated therewith) received from any such
event.

          “Net Sale Proceeds” shall mean for any sale or other disposition of assets, the gross
cash proceeds (including any cash received by way of deferred payment pursuant to a promissory
note, receivable or otherwise, but only as and when received) received from such sale or other
disposition of assets, net of (i) reasonable transaction costs (including, without limitation, any
underwriting, brokerage or other customary selling commissions, reasonable legal, advisory and
other fees and expenses (including title and recording expenses), associated therewith and sales,
VAT and transfer taxes arising therefrom), (ii) payments of unassumed liabilities relating to the
assets sold or otherwise disposed of at the time of, or within 30 days after, the date of such sale
or other disposition, (iii) the amount of such gross cash proceeds required to be used to
permanently repay any Indebtedness (other than Indebtedness of the Lenders pursuant to this
Agreement and the Indebtedness of the ABL Lenders under the ABL Credit Documents) which is secured
by the respective assets which were sold or otherwise disposed of, and (iv) the estimated net
marginal increase in income taxes which will be payable by the U.S. Borrower consolidated group or
any Subsidiary of the U.S. Borrower with respect to the Fiscal Year in which the sale or other
disposition occurs as a result of such sale or other disposition; provided, however,

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 that such gross proceeds shall not include any portion of such gross cash
proceeds which the U.S. Borrower determines in good faith should be reserved for post-closing
adjustments (to the extent the U.S. Borrower delivers to the Lenders a certificate signed by its
chief financial officer or treasurer, controller or chief accounting officer as to such
determination), it being understood and agreed that on the day that all such post-closing
adjustments have been determined (which shall not be later than six months following the date of
the respective asset sale), the amount (if any) by which the reserved amount in respect of such
sale or disposition exceeds the actual post-closing adjustments payable by the U.S. Borrower or any
of its Subsidiaries shall constitute Net Sale Proceeds on such date received by the U.S. Borrower
and/or any of its Subsidiaries from such sale or other disposition.

          “New Credit Party” shall mean and include any Credit Party which was not a Credit
Party under, and as defined in, the Original Credit Agreement on the Original Effective Date.

          “New U.S. Credit Party” shall mean and include each New Credit Party that is a U.S.
Credit Party.

          “New Foreign Subsidiary Guarantor” shall mean and include any Foreign Subsidiary
Guarantor which was not a Foreign Subsidiary Guarantor under, and as defined in, the Original
Credit Agreement on the Original Effective Date.

          “Non-Consenting Tranche C Term Loan Lender” shall mean each Lender under, and as
defined in, the Original Credit Agreement with outstanding Original Tranche B Term Loans on the
Restatement Effective Date (immediately prior to giving effect thereto) that is not a Consenting
Tranche C Term Loan Lender.

          “Non-Defaulting Lender” shall mean each Lender other than a Defaulting Lender.

          “Non-Dollar Currencies” shall mean and include each Alternative Currency.

          “Non-Dollar Denominated Bank Guaranty” shall mean all Bank Guaranties other than
Dollar Denominated Bank Guaranties.

          “Non-Dollar Denominated Bank Guaranty Outstandings” shall mean all Bank Guaranty
Outstandings other than Dollar Denominated Bank Guaranty Outstandings.

          “Non-Dollar Denominated B/G Cushion Amount” shall mean, at any time with respect to
any Non-Dollar Denominated Bank Guaranty, an amount equal to 5% of the Face Amount of such
Non-Dollar Denominated Bank Guaranty, with such Face Amount determined for this purpose in
accordance with the definition thereof contained herein without giving effect to clause (y) of the
proviso thereto.

          “Non-Dollar Denominated Letters of Credit” shall mean all Letters of Credit other than
Dollar Denominated Letters of Credit.

          “Non-Dollar Denominated Letter of Credit Outstandings” shall mean all Letter of Credit
Outstandings other than Dollar Denominated Letter of Credit Outstandings.

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          “Non-Dollar Denominated L/C Cushion Amount” shall mean, at any time with respect to
any Non-Dollar Denominated Letter of Credit, an amount equal to 5% of the Stated Amount of such
Non-Dollar Denominated Letter of Credit, with such Stated Amount determined for this purpose in
accordance with the definition thereof contained herein without giving effect to clause (y) of the
proviso thereto.

          “Non-Guarantor Subsidiaries” shall mean (i) on the Restatement Effective Date, each
Subsidiary of the U.S. Borrower listed on Part A of Schedule XIII and (ii) after the Restatement
Effective Date, any Subsidiary of the U.S. Borrower that is not at such time a Subsidiary
Guarantor.

          “Non-Qualified Jurisdiction” at any time shall mean each jurisdiction that is not at
such time a Qualified Jurisdiction.

          “Non-U.S. Dole Group” shall mean the Consolidated Subsidiaries of the U.S. Borrower
which are not members of the U.S. Dole Group.

          “Non-Wholly Owned Subsidiary” shall mean, as to any Person, each Subsidiary of such
Person which is not a Wholly-Owned Subsidiary of such Person.

          “Note” shall mean each Tranche B Term Note, each Tranche C Term Note and each
Incremental Term Note.

          “Notice of Borrowing” shall have the meaning provided in Section 1.03(a).

          “Notice of Conversion/Continuation” shall have the meaning provided in Section 1.06.

          “Notice Office” shall mean the office of the Administrative Agent located at 60 Wall
Street, New York, New York 10005 or such other office as the Administrative Agent may designate to
the U.S. Borrower and the Lenders from time to time.

          “Obligation Currency” shall have the meaning provided in Section 13.22(a).

          “Obligations” shall mean all amounts, direct or indirect, contingent or absolute, of
every type or description, and at any time existing, owing to any Agent, the Collateral Agent, any
Issuing-Lender, any Bank Guaranty Issuer or any Lender pursuant to the terms of this Agreement or
any other Credit Document.

          “Original Agent” shall mean each “Agent” under, and as defined in, the Original Credit
Agreement.

          “Original Credit Agreement” shall have the meaning provided in the first WHEREAS
clause of this Agreement.

          “Original Effective Date” shall mean the Restatement Effective Date under, and as
defined in, the Original Credit Agreement.

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          “Original Lenders” shall mean the Lenders under, and as defined in, the Original
Credit Agreement with outstanding Original Loans on the Restatement Effective Date (immediately
prior to giving effect thereto).

          “Original Loan” shall mean each “Loan” under, and as defined in, the Original Credit
Agreement.

          “Original Required Lenders” shall mean the “Required Lenders” under, and as defined
in, the Original Credit Agreement.

          “Original Revolving Loan” shall mean a “Revolving Loan” under, and as defined in, the
Original Credit Agreement.

          “Original U.S. Security Agreement” shall mean the “U.S. Security Agreement” under, and
as defined in, the Original Credit Agreement.

          “Original Swingline Loan” shall mean a “Swingline Loan” under, and as defined in, the
Original Credit Agreement.

          “Original Tranche B Term Loan” shall mean a “Tranche B Term Loan” under, and as
defined in, the Original Credit Agreement.

          “Other Hedging Agreements” shall mean any foreign exchange contracts, currency swap
agreements or other similar agreements or arrangements designed to protect against fluctuations in
currency values.

          “Participating Member State” shall mean, at any time, any member state of the European
Union which has adopted the Euro as its lawful currency at such time.

          “Payment Office” shall mean the office of the Administrative Agent located at 60 Wall
Street, New York, New York 10005 or such other office as the Administrative Agent may hereafter
designate in writing to the U.S. Borrower and the Lenders from time.

          “PBGC” shall mean the Pension Benefit Guaranty Corporation established pursuant to
Section 4002 of ERISA, or any successor thereto.

          “Permitted Acquired Debt” shall have the meaning set forth in Section 9.04(b)(vi).

          “Permitted Acquisition” shall mean the acquisition by the U.S. Borrower or any of its
Wholly-Owned Subsidiaries of assets constituting a business, division or product line of any
Person, not already a Subsidiary of the U.S. Borrower or any of its Wholly-Owned Subsidiaries, or
of 100% of the capital stock or other Equity Interests of any such Person, which Person shall, as a
result of such acquisition, become a Wholly-Owned Subsidiary of the U.S. Borrower or such
Wholly-Owned Subsidiary, provided that (A) the consideration paid by the U.S. Borrower or
such Wholly-Owned Subsidiary consists solely of cash (including proceeds of ABL Loans), the
issuance of U.S. Borrower Common Stock, the issuance of Qualified Preferred Stock, the incurrence
of Indebtedness otherwise permitted pursuant to Section 9.04 and the assump-

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tion/acquisition of any Permitted Acquired Debt relating to such business, division,
product line or Person which is permitted to remain outstanding in accordance with the requirements
of Section 9.04, (B) in the case of the acquisition of 100% of the capital stock or other Equity
Interests of any Acquired Entity or Business, such Acquired Entity or Business shall own no capital
stock or other Equity Interests of any other Person unless either (x) the Acquired Entity or
Business owns 100% of the capital stock or other Equity Interests of such other Person or (y) if
the Acquired Entity or Business owns capital stock or Equity Interests in any other Person which is
a Non-Wholly Owned Subsidiary of the Acquired Entity or Business, (1) the Acquired Entity or
Business shall not have been created or established in contemplation of, or for purposes of, the
respective Permitted Acquisition, (2) such Non-Wholly Owned Subsidiary of the Acquired Entity or
Business shall have been a Non-Wholly Owned Subsidiary of the Acquired Entity or Business prior to
the date of the respective Permitted Acquisition and not created or established in contemplation
thereof and (3) the Acquired Entity or Business and/or its Wholly-Owned Subsidiaries own at least
80% of the total value of all the assets owned by such Acquired Entity or Business and its
subsidiaries (for purposes of such determination, excluding the value of the Equity Interests of
Non-Wholly Owned Subsidiaries held by such Acquired Entity or Business and its Wholly-Owned
Subsidiaries), (C) the Acquired Entity or Business shall be a Permitted Business and (D) all
applicable requirements of Sections 8.11, 8.15 and 9.02 applicable to Permitted Acquisitions are
satisfied. Notwithstanding anything to the contrary contained in the immediately preceding
sentence, an acquisition which does not otherwise meet the requirements set forth above in the
definition of “Permitted Acquisition” shall constitute a Permitted Acquisition if, and to the
extent, the Required Lenders agree in writing that such acquisition shall constitute a Permitted
Acquisition for purposes of this Agreement.

          “Permitted Business” shall mean any business which (i) is the same, similar, ancillary
or reasonably related to the business in which the U.S. Borrower or any of its Subsidiaries is
engaged on the Original Effective Date or (ii) is conducted by an Acquired Entity or Business
acquired pursuant to a Permitted Acquisition and which does not qualify as a “Permitted Business”
pursuant to preceding clause (i), so long as (x) such business represents an immaterial portion of
the businesses acquired pursuant to such Permitted Acquisition and (y) such business is sold or
otherwise disposed of as soon as reasonably practicable following the consummation of such
Permitted Acquisition (but, in any event, within one year following such Permitted Acquisition).

          “Permitted Encumbrances” shall mean with respect to any Mortgaged Property, such
exceptions to title as are set forth in the Mortgage Policy delivered with respect thereto, all of
which exceptions must be acceptable to the Administrative Agent in its reasonable discretion.

          “Permitted Holders” shall mean, David H. Murdock, a Qualified Trust and any majority
owned and controlled Affiliate of David H. Murdock or a Qualified Trust.

          “Permitted Indebtedness” shall have the meaning provided in Section 9.04(b).

          “Permitted Installment Note” shall mean a promissory note issued as consideration to
the U.S. Borrower or any of its Subsidiaries in connection with a Contemplated Asset Sale, which
note (i) shall be secured by the assets subject to the respective Contemplated Asset Sale and (ii)
in the case of a Contemplated Asset Sale made by a Credit Party, shall be pledged to

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the Collateral Agent pursuant to the relevant Security Documents; provided that no
such note may be issued in connection with a Contemplated Asset Sale if the aggregate principal
amount of such note, when added to the aggregate outstanding principal amount of all other
Permitted Installment Notes theretofore issued (without regard to any write-downs or write-offs
thereof), would exceed $35,000,000.

          “Permitted Liens” shall have the meaning provided in Section 9.03.

          “Permitted Refinancing Indebtedness” shall mean any Indebtedness of the U.S. Borrower
and its Subsidiaries issued or given in exchange for, or the proceeds of which are used to, extend,
refinance, renew, replace or refund any Scheduled Existing Indebtedness, Permitted Acquired Debt or
any Indebtedness issued to so extend, refinance, renew, replace, substitute or refund any such
Indebtedness, so long as (a) such Indebtedness has a weighted average life to maturity greater than
or equal to the weighted average life to maturity of the Indebtedness being extended, refinanced,
renewed, replaced or refunded, (b) such extension, refinancing, renewal, replacement or refunding
does not (i) increase the amount of such Indebtedness outstanding immediately prior to such
extension, refinancing, renewal, replacement or refunding (except to the extent of reasonable fees,
premiums, commissions and expenses actually paid in connection with such extension, refinancing,
renewal, replacement or refunding) or (ii) add guarantors, obligors or security from that which
applied to such Indebtedness being extended, refinanced, renewed, replacement or refunding, (c)
such Indebtedness has the same (or, from the perspective of the Lenders, more favorable)
subordination provisions, if any, as applied to the Indebtedness being extended, renewed,
refinanced, replaced or refunded, and (d) all other terms of such extension, refinancing, renewal,
replacement or refunding (including, without limitation, with respect to the amortization
schedules, redemption provisions, maturities, covenants, defaults and remedies, but excluding
interest rates so long as on market terms at the time of issuance thereof) are not less
favorable in any material respect to the respective borrower than those previously existing with
respect to the Indebtedness being extended, refinanced, renewed, replaced or refunded,
provided, however, that any Intercompany Scheduled Existing Indebtedness (and
subsequent extensions, refinancings, renewals, replacements and refundings thereof as provided
above in this definition) may only be extended, refinanced, renewed, replaced or refunded as
provided above in this definition if the Indebtedness so extended, refinanced, renewed, replaced or
refunded has the same obligors(s) and obligee(s) as the Indebtedness being extended, refinanced,
renewed, replaced or refunded.

          “Permitted Refinancing Senior Notes” shall mean any Indebtedness of the U.S. Borrower
evidenced by senior notes issued or given in exchange for, or the proceeds of which are used to,
refinance, renew, replace or refund any Existing Senior Notes, any Permitted Senior Notes or any
Indebtedness issued to so refinance, renew, replace or refund any such Indebtedness, so long as (a)
such Indebtedness has a final maturity no earlier than July 15, 2013 and no required amortization
prior to such date, (b) such Indebtedness does not (i) increase the amount of such Indebtedness
outstanding immediately prior to such refinancing or renewal (except to the extent of reasonable
fees, premiums, commissions and expenses actually paid in connection with such refinancing,
renewal, replacement or refunding) or (ii) add guarantors, obligors or security from that which
applies to the Indebtedness being refinanced, renewed, replaced or refunded (except that up to
$500,000,000 principal amount (or, if greater, the principal amount that would not cause the Senior
Secured Leverage Ratio to exceed 3.75 to 1.0 on a pro forma basis as of the

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last day of the most recently completed Test Period for which financial statements are
available as of the time of incurrence thereof) of Permitted Refinancing Senior Notes issued or
given in exchange for, or the proceeds of which are used to refinance, renew, replace or refund any
of the Existing 2009 Senior Notes and the Existing 2010 Senior Notes may be guaranteed by the U.S.
Subsidiary Guarantors and may be secured by a Lien on Collateral of the U.S. Borrower and the U.S.
Subsidiary Guarantors on the basis applicable to Notes Obligations (as defined in the Intercreditor
Agreement) so long as the Intercreditor Agreement attached as Exhibit B to Amendment 1 has been
entered into and the collateral agent for such Permitted Refinancing Senior Notes is a party
thereto on behalf of the holders of such Permitted Refinancing Senior Notes, (c) the guaranties of
such senior notes shall be subject to the same (or, from the perspective of the Lenders, more
favorable) subordination provisions as applied to the guaranties of the Existing 2011 Senior Notes,
(d) if the U.S. Borrower elects to provide for the subordination of the obligations of the U.S.
Borrower under such senior notes to the prior payment in full of “senior debt” (or, the
Indebtedness being refinanced, renewed, replaced or refunded includes subordination provisions
applicable to the U.S. Borrower), such senior notes shall be subject to the same subordination
provisions as are applicable to the guaranties of such senior notes (subject only to appropriate
conforming changes), (e) all other terms of such Indebtedness are on market terms at the time of
issuance as determined in good faith by the U.S. Borrower, and (f) the documentation governing such
Indebtedness is in form and substance reasonably satisfactory to the Administrative Agent, as such
Indebtedness is in effect on the date of incurrence thereof and as the same may be amended,
modified and/or supplemented from time to time in accordance with the terms hereof and thereof.

          “Permitted Refinancing Senior Notes Documents” shall mean any indenture entered into
in connection with any issuance of Permitted Refinancing Senior Notes and each mortgage, security
agreement or other agreement, document or instrument relating to any issuance of Permitted
Refinancing Senior Notes, as the same may be amended, modified and/or supplemented from time to
time in accordance with the terms hereof and thereof.

          “Permitted Senior Notes” shall mean any Indebtedness of the U.S. Borrower evidenced by
senior notes 100% of the Net Cash Proceeds of which are promptly applied to finance a Permitted
Acquisition effected in accordance with the requirements of Section 8.15 and the fees and expenses
incurred in connection therewith, so long as (a) such Indebtedness has a final maturity no earlier
than the date occurring 180 days following the then latest Maturity Date and no required
amortizations prior to such date, (b) such Indebtedness does not add guarantors, obligors or
security from that which applies to the Existing 2011 Senior Notes, (c) the guaranties of such
senior notes shall be subject to the same (or, from the perspective of the Lenders, more favorable)
subordination provisions as applied to the guaranties of the Existing 2011 Senior Notes, (d) if the
U.S. Borrower elects to provide for the subordination of the obligations of the U.S. Borrower under
such senior notes to the prior payment in full of “senior debt,” such senior notes shall be subject
to the same subordination provisions as are applicable to the guaranties of such senior notes
(subject only to appropriate conforming changes), (e) all other terms of such Indebtedness
(including, without limitation, with respect to amortization, redemption provisions, maturities,
covenants, defaults and remedies, but excluding interest rates so long as on market terms at the
time of the issuance thereof), are not, taken as a whole, less favorable in any material
respect to the U.S. Borrower and its Subsidiaries than those previously existing with respect to
the Existing 2011 Senior Notes, (f) on the date of issuance of any such Indebtedness, the U.S. Bor-

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rower and its Subsidiaries shall have complied with the requirements of Section 8.15 with
respect to the Permitted Acquisition to be financed with the proceeds of such Indebtedness
(including the delivery of the officers’ certificate required by Section 8.15(a)(x) and the
calculations required by Section 8.15(a)(iii) (after giving pro forma effect to the
issuance of such Indebtedness) and (g) the documentation governing such Indebtedness is in form and
substance reasonably satisfactory to the Administrative Agent, as such Indebtedness may be amended,
modified and/or supplemented from time to time in accordance with the terms hereof and thereof.

          “Permitted Senior Notes Documents” shall mean any Permitted Senior Note, any Permitted
Senior Notes Indenture and all other documents executed and delivered with respect to an issuance
of Permitted Senior Notes or a Permitted Senior Notes Indenture, as the same may be amended,
modified and/or supplemented from time to time in accordance with the terms hereof and thereof.

          “Permitted Senior Notes Indenture” shall mean any indenture entered into in connection
with any issuance of Permitted Senior Notes, as the same may be amended, modified and/or
supplemented from time to time in accordance with the terms hereof and thereof.

          “Person” shall mean any individual, partnership, joint venture, firm, corporation,
limited liability company, association, trust or other enterprise or any government or political
subdivision or any agency, department or instrumentality thereof.

          “Plan” shall mean any pension plan as defined in Section 3(2) of ERISA (other than a
Multiemployer Plan), which is maintained or contributed to by (or to which there is an obligation
to contribute of) the U.S. Borrower or a Subsidiary of the U.S. Borrower or an ERISA Affiliate, and
each such plan for the five year period immediately following the latest date on which the U.S.
Borrower, or a Subsidiary of the U.S. Borrower or an ERISA Affiliate maintained, contributed to or
had an obligation to contribute to such plan.

          “Pledge Agreement Collateral” shall mean all U.S. Pledge Agreement Collateral and all
other Equity Interests or other property similar to that pledged pursuant to the U.S. Pledge
Agreement which is pledged pursuant to one or more Foreign Pledge Agreements, Foreign Security
Agreements or Additional Security Documents.

          “Pledge Agreements” shall mean the U.S. Pledge Agreement and each Foreign Pledge
Agreement.

          “Preferred Equity,” as applied to the Equity Interests of any Person, means Equity
Interests of such Person (other than common stock of such Person) of any class or classes (however
designed) that ranks prior, as to the payment of dividends or as to the distribution of assets upon
any voluntary or involuntary liquidation, dissolution or winding up of such Person, to Equity
Interests of any other class of such Person.

          “Prime Lending Rate” shall mean the rate which DBAG (or another bank of recognized
standing reasonably selected by the Administrative Agent) announces from time to time as its prime
lending rate, the Prime Lending Rate to change when and as such prime lending rate changes. The
Prime Lending Rate is a reference rate and does not necessarily represent the low-

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est or best rate actually charged to any customer. DBAG may make commercial loans or other
loans at rates of interest at, above or below the Prime Lending Rate.

          “Principal Property” shall mean “Principal Property”, as defined in the Existing 2011
Senior Notes Indenture (as in effect (and as each component definition used therein is in effect)
on the Original Effective Date, without giving effect to any termination thereof).

          “Pro Forma Basis” shall mean, in connection with any calculation of the Total Leverage
Ratio or Senior Secured Leverage Ratio, the calculation of Consolidated EBITDA as used therein
after giving effect on a pro forma basis to any Permitted Acquisition or
Significant Asset Sale then being consummated as well as any other Permitted Acquisition or
Significant Asset Sale consummated after the first day of the relevant Test Period or Calculation
Period, as the case may be, and on or prior to the date of the required determination of the Total
Leverage Ratio and/or Senior Secured Leverage Ratio, as the case may be, as if same had occurred on
the first day of the respective Test Period or Calculation Period, as the case may be, taking into
account, in the case of any Permitted Acquisition, factually supportable and identifiable cost
savings and expenses which would otherwise be accounted for as an adjustment pursuant to Article 11
of Regulation S-X under the Securities Act, as if such cost savings or expenses were realized on
the first day of the respective period.

          “Pro Forma Financial Statements” shall mean the following (which were delivered to the
Administrative Agent on or prior to the Restatement Effective Date): (i) true and correct copies of
the financial statements referred to in Section 7.10(b)(i) and (ii) an unaudited pro
forma (calculated as if the Transaction had occurred on such date) consolidated balance
sheet of the U.S. Borrower and its Consolidated Subsidiaries as of December 31, 2005 and the
related pro forma (calculated as if the Transaction had occurred on the first day
of the period covered thereby) statement of income for the twelve-month period ended as of such
date, after giving effect to the Transaction and the incurrence of all Indebtedness contemplated
therein.

          “Projections” means detailed projected consolidated financial statements of the U.S.
Borrower and its Consolidated Subsidiaries certified by the Chief Financial Officer of the U.S.
Borrower for the five Fiscal Years ended after the Restatement Effective Date delivered to the
Administrative Agent on or prior to the Restatement Effective Date.

          “Property” of a Person means any and all property, whether real, personal, tangible,
intangible or mixed, of such Person, or other assets owned, leased, or operated by such Person.

          “Qualified Jurisdictions” shall mean and include the United States, Bermuda and each
other jurisdiction identified on Schedule XVII hereto, in each case including any states, provinces
or other similar local units therein. Furthermore, from time to time after the Restatement
Effective Date, the U.S. Borrower may request (by written notice to, and following consultation
with, the Administrative Agent) that one or more additional jurisdictions be added to the list of
Qualified Jurisdictions. In such event, such jurisdictions shall be added to (and thereafter form
part of) the list of Qualified Jurisdictions so long as, in each case, the respective jurisdiction
to be added is a jurisdiction in which the U.S. Borrower and/or any of its Subsidiaries conducts
business on the Restatement Effective Date or is otherwise reasonably satisfactory to the Admin-

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istrative Agent and so long as the U.S. Borrower has furnished opinions of counsel, in each
case from counsel, and in form and substance, reasonably satisfactory to the Administrative Agent,
concluding that Subsidiaries of the U.S. Borrower organized under the laws of such jurisdiction may
execute and deliver a Foreign Subsidiaries Guaranty (unlimited in amount and otherwise containing
provisions reasonably consistent with the provisions of the Foreign Subsidiaries Guaranty executed
and delivered on the Initial Borrowing Date and applicable to a Qualified Non-U.S. Obligor on such
date), the Intercompany Subordination Agreement and such Security Documents as may be satisfactory
to the Collateral Agent (generally consistent with the Security Documents executed and delivered by
Qualified Non-U.S. Obligors (determined without regard to the proviso to the definition thereof
contained herein) on the Restatement Effective Date) and that, in accordance with the laws of the
respective jurisdiction, such Credit Documents shall constitute the legal, valid and binding
obligations, enforceable in accordance with their terms, and (in the case of the Security
Documents) create valid and perfected security interests under applicable law (in each case subject
to such customary exceptions (not inconsistent with the requirements set forth above) as are
satisfactory to the Administrative Agent). The parties hereto further agree that, in the
discretion of the Administrative Agent, as a condition to the addition of any jurisdiction to the
list of Qualified Jurisdictions, the Administrative Agent may (but shall not be required to)
request the consent of the Required Lenders to such addition and, in such event, the Administrative
Agent shall be entitled to wait for such consent before adding the respective jurisdiction to the
list of Qualified Jurisdictions.

          “Qualified Non-U.S. Jurisdictions” shall mean and include each Qualified Jurisdiction
other than the United States (and the States thereof).

          “Qualified Non-U.S. Obligors” shall mean each Foreign Credit Party which (x) is a
Wholly-Owned Subsidiary of the U.S. Borrower organized under the laws of a Qualified Non-U.S.
Jurisdiction, (y) has provided a full and unconditional guaranty (unlimited in amount) of all
Guaranteed Obligations (as defined in the Foreign Subsidiaries Guaranty) pursuant to a Foreign
Subsidiaries Guaranty and (z) has executed the relevant Security Documents in accordance with the
requirements of Sections 5, 8.11 and/or 9.14 of the Original Credit Agreement or Sections 5, 8.11
and/or 9.11 hereof securing all such Guaranteed Obligations,
provided that (i) any Fee Capped
Foreign Subsidiary Guarantor shall be deemed to be a Qualified Non-U.S. Obligor for purposes of
Sections 9.02(viii), (ix) and (xi) and Sections 9.05(vi) and (viii) only (and only said Sections),
so long as such Fee Capped Foreign Subsidiary Guarantor shall at all times be in compliance with
the requirements of Section 8.11(i), (ii) any Fee Capped Foreign Subsidiary Guarantor shall be
deemed to be a Qualified Non-U.S. Obligor for purposes of Section 8.18(c), so long as (I)
governmental approvals are required to be obtained to transfer the Equity Interests of such Fee
Capped Foreign Subsidiary Guarantor to a Qualified Non-U.S. Obligor (determined without regard to
clauses (i), (ii), (iii) and (iv) of this proviso) and the U.S. Borrower or such Subsidiary
Guarantor is using reasonable efforts to obtain such approvals or (II) the transfer of the Equity
Interests of such Fee Capped Foreign Subsidiary Guarantor to a Qualified Non-U.S. Obligor
(determined without regard to clauses (i), (ii), (iii) and (iv) of this proviso) would give rise to
material and adverse tax consequences to the U.S. Borrower or such Subsidiary, (iii) Dole Korea,
Ltd. shall be deemed to be a Qualified Non-U.S. Obligor for purposes of Sections 8.18(c) and
9.01(b) (and only said Sections), (iv) notwithstanding the provision of a limited guaranty by the
Excluded Bermuda Insurance Companies, each of the Excluded Bermuda Insurance Companies shall be
deemed to be a “Qualified Non-U.S. Obligor” for all purposes of this Agreement (other

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than Sections 8.18(c) and 9.01(b) for which it is understood such Persons shall not constitute
“Qualified Non-U.S. Obligors”) and (v) any Qualified Non-U.S. Obligor (including any deemed as such
pursuant to preceding clauses (i), (ii), (iii) and (iv)) shall cease to constitute same at such
time, if any, as such Person ceases to be a Wholly-Owned Subsidiary of the U.S. Borrower.

          “Qualified Obligors” shall mean each Qualified U.S. Obligor and each Qualified
Non-U.S. Obligor.

          “Qualified Preferred Stock” shall mean any Preferred Equity of the U.S. Borrower, the
express terms of which shall provide that dividends thereon shall not be required to be paid at any
time (and to the extent) that such payment would be prohibited by the terms of this Agreement or
any other agreement of the U.S. Borrower or any of its Subsidiaries relating to outstanding
indebtedness and which, by its terms (or by the terms of any security into which it is convertible
or for which it is exchangeable), or upon the happening of any event (including any change of
control event), cannot mature (excluding any maturity as the result of an optional redemption by
the issuer thereof) and is not mandatorily redeemable, pursuant to a sinking fund obligation or
otherwise, and is not redeemable, or required to be repurchased, at the sole option of the holder
thereof (including, without limitation, upon the occurrence of an change of control event), in
whole or in part, on or prior to 3 months following the maturity date of the Existing 2013 Senior
Notes.

          “Qualified Trust” shall mean the David H. Murdock Living Trust, dated May 28, 1986, as
amended, or another trust established by Mr. Murdock to hold and control (x) prior to the IPO
Transactions, the capital stock of Holdings, and thereafter, (y) U.S. Borrower Common Stock and, in
each case, the remainder of his estate in the event of his death, so long as any such trust
described above (i) is at all times controlled by David H. Murdock or by a majority of experienced
business persons and is not controlled by members of Mr. Murdock’s family and (ii) holds all or
substantially all of the assets of Mr. Murdock.

          “Qualified U.S. Obligors” shall mean and include the U.S. Borrower and each other U.S.
Credit Party which is a Wholly-Owned Subsidiary of the U.S. Borrower, provided that any
Qualified U.S. Obligor that is (or was) a Subsidiary of the U.S. Borrower shall cease to constitute
a Qualified U.S. Obligor at such time, if any, as such Subsidiary ceases to be a Wholly-Owned
Subsidiary of the U.S. Borrower.

          “Quarterly Payment Date” shall mean the last Business Day of each March, June,
September and December.

          “Rabobank” shall mean the Rabobank International in its individual capacity, and any
successor corporation thereto by merger, consolidation or otherwise.

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

          “Recovery Event” shall mean the receipt by the U.S. Borrower or any of its
Subsidiaries of any insurance or condemnation proceeds payable (i) by reason of theft, physical
destruction or damage or any other similar event with respect to any properties or assets of the
U.S. Borrower or any of its Subsidiaries, (ii) by reason of any condemnation, taking, seizing or
similar

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event with respect to any properties or assets of the U.S. Borrower or any of its Subsidiaries
and (iii) under any policy of insurance required to be maintained under Section 8.03.

          “Refinancing” shall mean the Intermediate Holdco Refinancing and the other refinancing
transactions contemplated by Section 5.08 of the Original Credit Agreement.

          “Refinancing Documents” shall mean shall mean the documents, instruments and
agreements entered into connection with the Refinancing.

          “Register” shall have the meaning provided in Section 13.17.

          “Regulation D” shall mean Regulation D of the Board of Governors of the Federal
Reserve System as from time to time in effect and any successor to all or a portion thereof
establishing reserve requirements.

          “Regulation T” shall mean Regulation T of the Board of Governors of the Federal
Reserve System as from to time in effect and any successor to all or any portion thereof.

          “Regulation U” shall mean Regulation U of the Board of Governors of the Federal
Reserve System as from time to time in effect and any successor to all or a portion thereof.

          “Regulation X” shall mean Regulation X of the Board of Governors of the Federal
Reserve System as from time to time in effect and any successor to all or any portion thereof.

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

          “Relevant Guaranteed Obligations” shall mean (i) in the case of the U.S. Borrower, (x)
the principal and interest on each Tranche C Term Note and each Incremental Term Note (in each
case) issued by the Bermuda Borrower to each Lender, and each Tranche C Term Loan and each Bermuda
Borrower Incremental Term Loan made, under this Agreement, all reimbursement obligations and Unpaid
Drawings with respect to each Letter of Credit issued for the account of the Bermuda Borrower and
all reimbursement obligations and Unreimbursed Payments with respect to each Bermuda Borrower Bank
Guaranty, together with all the other obligations (including obligations which, but for the
automatic stay under Section 362(a) of the Bankruptcy Code, would become due) and liabilities
(including, without limitation, indemnities, fees and interest thereon) of the Bermuda Borrower to
each Lender, each Agent, each Issuing Lender, each Bank Guaranty Issuer and the Collateral Agent
now existing or hereafter incurred under, arising out of or in connection with this Agreement or
any other Credit Document and the due performance and compliance by the Bermuda Borrower with all
the terms, conditions and agreements contained in the Credit Documents to which it is a party and
(y) all obligations (including obligations which, but for the automatic stay under Section 362(a)
of the Bankruptcy Code, would become due) and liabilities of the Bermuda Borrower or any other
Subsidiary of the Bermuda Borrower owing under any Interest Rate Protection Agreement and any Other
Hedging Agreement entered into by the Bermuda Borrower or any other Subsidiary of the U.S. Borrower
with any Secured Hedge Counterparty so long as such Secured Hedge Counterparty participates
in such Interest Rate Protection Agreement or Other Hedging Agreement, and their subsequent

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assigns, if any, whether now in existence or hereafter arising, and the due performance and
compliance with all terms, conditions and agreements contained therein and (ii) in the case of the
Bermuda Borrower, all obligations (including obligations which, but for the automatic stay under
Section 362(a) of the Bankruptcy Code, would become due) and liabilities of any Foreign Subsidiary
of the U.S. Borrower (other than the Bermuda Borrower) owing under any Interest Rate Protection
Agreement and any Other Hedging Agreement entered into by any such Foreign Subsidiary of the U.S.
Borrower with any Secured Hedge Counterparty so long as such Secured Hedge Counterparty
participates in such Interest Rate Protection Agreement or Other Hedging Agreement, and their
subsequent assigns, if any, whether now in existence or hereafter arising, and the due performance
and compliance with all terms, conditions and agreements contained therein.

          “Relevant Guaranteed Party” shall mean (i) with respect to the U.S. Borrower, the
Bermuda Borrower and each Subsidiary of the U.S. Borrower party to any Interest Rate Protection
Agreement or Other Hedging Agreement with any Secured Creditor and (ii) with respect to the Bermuda
Borrower, each Foreign Subsidiary of the U.S. Borrower (other than the Bermuda Borrower) party to
any Interest Rate Protection Agreement or Other Hedging Agreement with any Secured Creditor.

          “Replaced Lender” shall have the meaning provided in Section 1.13.

          “Replacement Foreign Security Agreements” shall mean the amended and restated and/or
replacement security agreements, documents and instruments dated as of the Restatement Effective
Date executed and delivered by the Foreign Credit Parties listed on Part G of Schedule XII securing
all of the relevant obligations (including such Foreign Credit Party’s guaranty obligations with
respect to the Letters of Credit and Bank Guaranties issued for the account of the Bermuda Borrower
and the Tranche C Term Loans and the Bermuda Borrower Incremental Term Loans).

          “Replacement Lender” shall have the meaning provided in Section 1.13.

          “Reportable Event” shall mean an event described in Section 4043(c) of ERISA with
respect to a Plan that is subject to Title IV of ERISA other than those events as to which the
30-day notice period is waived under subsection .22, .23, .25, .27, or .28 of PBGC Regulation
Section 4043.

          “Repricing Transaction” shall mean, as to any Tranche, (1) the incurrence by the U.S.
Borrower or any of its Subsidiaries of any indebtedness (including, without limitation, any new or
additional loans, letters of credit, bank guaranties and/or credit-linked deposits under this
Agreement, whether incurred directly or by way of the conversion of outstanding Term Loans and/or
Credit-Linked Deposits (and related Letters of Credit and/or Bank Guaranties), as the case may be,
of any such Tranche into a new tranche of replacement term loans, letters of credit, bank
guaranties and/or credit-linked deposits under this Agreement) that is broadly marketed or
syndicated to banks and other institutional investors in financings similar to the facilities
provided for in this Agreement (i) having an “effective” interest rate margin or weighted average
yield for the respective type of such indebtedness or extension of credit that is less than the
applicable rate for
or weighted average yield for (x) Term Loans of the respective Tranche and Type and/or (y)

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Credit-Linked Deposits (and related Letters of Credit and/or Bank Guaranties) of the CL Tranche, as
the case may be (with the comparative determinations to be made by the Administrative Agent
consistent with generally accepted financial practices, after giving effect to, among other
factors, margin, upfront or similar fees or “original issue discount” shared with all lenders or
holders of such indebtedness or other extensions of credit, as the case may be, but excluding the
effect of any arrangement, structuring, syndication or other fees payable in connection therewith
that are not shared with all lenders or holders of such indebtedness or other extensions of credit,
as the case may be, and without taking into account any fluctuations in the relevant Eurodollar
Rate) and (ii) the proceeds of which are used to prepay or replace (or, in the case of a
conversion, deemed to prepay or replace), in whole or in part, principal (or its equivalent) of
outstanding Term Loans of such Tranche and/or Credit-Linked Deposits (and related Letters of Credit
and/or Bank Guaranties) and (2) any reduction in the Applicable Margin for Term Loans and/or the CL
Facility Fee for Credit-Linked Deposits, as the case may be, of such Tranche by way of the
amendment, waiver or other modification of this Agreement. Any such determination by the
Administrative Agent as contemplated by preceding clause (1) shall be conclusive and binding on all
Lenders holding Term Loans and/or Credit-Linked Deposits (and related Letters of Credit and/or Bank
Guaranties).

          “Required Appraisal” shall have the meaning provided in Section 8.11(j).

          “Required Lenders” shall mean Non-Defaulting Lenders, the sum of whose outstanding
principal of Term Loans (or, if prior to the occurrence of the Credit Events on the Restatement
Effective Date, the sum of whose “Converted Tranche C Term Loans” amounts as shown on Schedule I
and Tranche B Term Loan Commitments and Tranche C Term Loan Commitments) and Credit-Linked
Commitments (or after the termination thereof, outstanding Individual CL Exposures) as of any date
of determination represent greater than 50% of the sum of all outstanding principal of Term Loans
(or if prior to the occurrence of the Credit Events on the Restatement Effective Date, the sum of
all “Converted Tranche C Term Loans” amounts as shown on Schedule I and Tranche B Term Loan
Commitments and Tranche C Term Loans Commitments) of Non-Defaulting Lenders at such time and the
sum of all Credit-Linked Commitments of all Non-Defaulting Lenders at such time (or, after the
termination thereof, the sum of the then total Individual CL Exposures of all Non-Defaulting
Lenders at such time); provided that, for purposes of this definition, at any time after
the Restatement Effective Date, (I) a Voting Participant shall be deemed to be a “Lender”
holding the portion of the Credit-Linked Commitment (or, after the termination thereof, outstanding
Individual CL Exposure), the Incremental Term Loan Commitment and the outstanding Term Loans of any
Lender (other than a Defaulting Lender) in which it purchased a participation from such Lender (and
to have the voting rights of such Lender with respect to each such Tranche) and (II) a Lender
(other than a Defaulting Lender) which has sold a participation in a portion of its Credit-Linked
Commitment (and related Obligations), Incremental Term Loan Commitment or outstanding Term Loans to
a Voting Participant shall be deemed to hold a Credit-Linked Commitment (or, after the termination
thereof, outstanding Individual CL Exposure), Incremental Term Loan Commitment or outstanding Term
Loans, as the case may be, in each case, as reduced by the amount of the participations therein
sold to a Voting Participant.

          “Restatement Effective Date” shall have the meaning provided in Section 13.10.

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          “Restricted Subsidiary” of any Person shall mean any Subsidiary (as defined in the
Existing 2011 Senior Notes Indenture as in effect on the Restatement Effective Date (without giving
effect to any termination thereof)) of such Person other than any Subsidiary (as so defined) of
such Person that is engaged primarily in the management, development and sale or financing of real
property.

          “Retained Excess Cash Flow Amount” shall initially be $0, which amount shall be (A)
increased on each Excess Cash Payment Date so long as any repayment required pursuant to
Section 4.02(f) has been made, by an amount equal to the Adjusted Excess Cash Flow for the
immediately preceding Excess Cash Flow Payment Period multiplied by a percentage
equal to 100% minus the Applicable Prepayment Percentage, and (B) reduced (i) on
each Excess Cash Payment Date where Adjusted Excess Cash Flow for the immediately preceding Excess
Cash Flow Payment Period is a negative number, by such amount, and (ii) at the time any cash is
used to redeem, repurchase and/or otherwise make payments in respect of Existing Senior Notes,
Permitted Senior Notes and/or Permitted Refinancing Senior Notes in reliance on Section 9.06(xiii),
by the amount of the cash so used (it being understood that the Retained Excess Cash Flow Amount
may be reduced to an amount below zero after giving effect to the reductions enumerated in clause
(B) above).

          “Returns” shall have the meaning provided in Section 7.20.

          “S&P” shall mean Standard & Poor’s Ratings Services, a division of McGraw Hill, Inc.

          “Sale-Leaseback Transaction” shall have the meaning provided in the Original Credit
Agreement.

          “Sale-Leaseback Transaction Documents” shall mean all documents and agreements
delivered in connection with the Sale-Leaseback Transaction, in each case as the same may be
amended, modified and/or supplemented from time to time in accordance with the terms hereof and
thereof.

          “Scheduled Existing Indebtedness” shall mean Third Party Scheduled Existing
Indebtedness and Intercompany Scheduled Existing Indebtedness.

          “Scheduled Investment Termination Date” shall mean, when referring to the
Credit-Linked Deposits on deposit in the Credit-Linked Deposit Account, the date agreed to by the
Borrowers and the Administrative Agent from time to time, provided that if no such
agreement shall be reached, the Scheduled Investment Termination Date shall be the last day of the
then current Interest Period applicable to the Credit-Linked Deposits.

          “Scheduled Repayment” shall mean any Tranche B Term Loan Scheduled Repayment, any
Tranche C Term Loan Scheduled Repayment and/or any Incremental Term Loan Scheduled Repayment of any
Tranche, as the context may require.

          “Scotia Capital” shall mean The Bank of Nova Scotia, in its individual capacity, and
any successor corporation thereto by merger, consolidation or otherwise.

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          “SEC” shall mean the Securities and Exchange Commission or any successor thereto.

          “Second Priority” means, with respect to any Lien purported to be created on any
Collateral pursuant to the U.S. Security Documents, that such Lien is prior in right to any other
Lien thereon, other than (x) Liens permitted pursuant to clause (y) of Section 9.03(iii) and (y)
Permitted Liens permitted to be prior to the Liens on the Collateral in accordance with the
definition “First Priority” contained herein; provided that in no event shall any such
Permitted Lien be permitted (on a consensual basis) to be junior and subordinate to any Permitted
Liens as described in clause (x) above and senior in priority to the relevant Liens created
pursuant to the U.S. Security Documents.

          “Second-Tier Material Real Property” of any Person, shall mean any fee-owned (or
equivalent) Real Property acquired by such Person after the Initial Borrowing Date with a value
(determined using the initial purchase price paid by such Person for such Real Property) of greater
than $2,500,000 but less than or equal to $10,000,000.

          “Section 4.04(b)(ii) Certificate” shall have the meaning provided in Section
4.04(b)(ii).

          “Secured Creditors” shall have the meaning provided in the respective Security
Documents.

          “Secured Hedge Counterparties” shall mean, with respect to any Interest Rate
Protection Agreement or Other Hedging Agreement, (x) any Lender or any affiliate thereof (even if
such Lender subsequently ceases to be a Lender under this Agreement for any reason), (y) any ABL
Lender or any affiliate thereof (even if such ABL Lender ceases to be a Lender under the ABL Credit
Agreement for any reason) or (z) to the extent any such Interest Rate Protection Agreement or Other
Hedging Agreement was entered into prior to the Restatement Effective Date, any Original Lender or
any affiliate thereof (even if such Original Lender ceased to be an Original Lender under the
Original Credit Agreement for any reason).

          “Securities Act” shall mean the Securities Act of 1933, as amended, and the rules and
regulations promulgated thereunder.

          “Security Agreement Collateral” shall mean all collateral in which any security
interest is granted pursuant to the Security Agreements.

          “Security Agreements” shall mean the U.S. Security Agreement and each Foreign Security
Agreement.

          “Security Documents” shall mean and include each of the U.S. Security Agreement, the
U.S. Pledge Agreement, each Mortgage, each Foreign Security Agreement, each Foreign Pledge
Agreement and, after the execution and delivery thereof, each Additional Security Document
(including each Additional Mortgage).

          “Senior Secured Leverage Ratio” shall mean, on any date of determination, the ratio of
(i) Consolidated Senior Secured Net Debt on such date to (ii) Consolidated EBITDA for

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the Test Period most recently ended on or prior to such date; provided that for all
purposes of this Agreement, Consolidated EBITDA for purposes of the Senior Secured Leverage Ratio
shall be determined on a Pro Forma Basis.

          “Senior Officer” shall mean (i) senior executive management of the U.S. Borrower and
the U.S. Borrower, (ii) the general counsel of the U.S. Borrower and (iii) the division presidents
of the U.S. Borrower and its Subsidiaries.

          “Sharing Event” shall mean (i) the occurrence of any Event of Default with respect to
any Credit Agreement Party pursuant to Section 10.05, (ii) the declaration of the termination of
any Credit-Linked Commitment or Incremental Term Loan Commitment, or the acceleration of the
maturity of any Loans, in each case pursuant to the last paragraph of Section 10 or (iii) the
failure of either Borrower to pay any principal of, or interest on, Loans of any Tranche, any
Letter of Credit Outstandings or any Bank Guaranty Outstandings on the relevant Maturity Date.

          “Shell Corporation” shall mean any Person created or established by the U.S. Borrower
or any of its Wholly-Owned Subsidiaries, so long as (i) the aggregate amount of assets at any time
held by any such Person does not exceed $10,000 and (ii) the aggregate amount of assets at any time
held by all Shell Corporations at any time in existence does not exceed $100,000, it being
understood that at such time as the assets of any Person which was a “Shell Corporation” exceed
$10,000 or the assets of all Persons which were “Shell Corporations” exceeds $100,000, all such
Persons shall cease to be Shell Corporations for purposes of this definition.

          “Significant Asset Sale” shall mean each Asset Sale which generates Net Sale Proceeds
of at least $10,000,000.

          “Special Colombian Put Note Agreement” shall mean that certain Put Agreement, dated as
of April 30, 2003, by and among the Bermuda Borrower, the Administrative Agent, the Collateral
Agent and the Colombian Subsidiary Guarantors, pursuant to which the Collateral Agent and the
Administrative Agent have the right to demand that the Colombian Subsidiary Guarantors purchase (on
a joint and several basis) any and all Special Colombian Put Notes at par (plus accrued
interest) and in U.S. Dollars, as amended, modified and/or supplemented from time to time.

          “Special Colombian Put Notes” shall have mean those certain promissory notes, dated as
of April 30, 2003, issued by the Bermuda Borrower in the form of Exhibit M hereto, as amended,
modified and/or supplemented from time to time.

          “Specified Default” shall mean any Default under either of Sections 10.01 or 10.05.

          “Specified Existing Ship Leases” shall mean the leases with respect to the vessels
named “Dole Chile” and “Dole Colombia,” as in effect on the Initial Borrowing Date.

          “Standby Letter of Credit” shall have the meaning provided in Section 2A.01(a).

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          “Stated Amount” of each Letter of Credit shall, at any time, mean the maximum amount
available to be drawn thereunder (in each case determined without regard to whether any conditions
to drawing could then be met, but after giving effect to all previous drawings made thereunder),
provided that, (x) except as such term is used in Section 2A.02, the “Stated
Amount” of each Non-Dollar Denominated Letter of Credit shall be, on any date of calculation,
the Dollar Equivalent of the maximum amount available to be drawn in such Alternative Currency
thereunder (determined without regard to whether any conditions to drawing could then be met but
after giving effect to all previous drawings made thereunder) and (y) except for purposes of
Sections 2A.02 and 3.01(b), the definition of Non-Dollar Denominated L/C Cushion Amount and in
determining the respective proportional indemnification liabilities of the Secured Creditors to the
Collateral Agent and/or the Pledgee under the applicable Security Documents, the Stated Amount of
any Non-Dollar Denominated Letter of Credit (as otherwise determined above) shall be increased (at
each time the Stated Amount thereof is determined) by Non-Dollar Denominated L/C Cushion Amount for
such Non-Dollar Denominated Letter of Credit.

          “Sterling” and “£” shall mean freely transferable lawful money of the United
Kingdom (expressed in pounds sterling).

          “Sterling Denominated Letter of Credit” shall mean each Letter of Credit denominated
in Sterling.

          “Subsidiaries Guaranty” shall mean and include the U.S. Subsidiaries Guaranty, the
Foreign Subsidiaries Guaranty and any other guaranty executed and delivered by any Subsidiary of
the U.S. Borrower pursuant to any of Sections 8.11, 8.12 and/or 9.11.

          “Subsidiary” of any Person shall mean and include (i) any corporation more than 50% of
whose stock of any class or classes having by the terms thereof ordinary voting power to elect a
majority of the directors of such corporation (irrespective of whether or not at the time stock of
any class or classes of such corporation shall have or might have voting power by reason of the
happening of any contingency) is at the time owned by such Person directly or indirectly through
one or more Subsidiaries of such Person and (ii) any partnership, association, limited liability
company, joint venture or other entity (other than a corporation) in which such Person directly or
indirectly through one or more Subsidiaries of such Person, has more than a 50% Equity Interest at
the time.

          “Subsidiary Guarantor” shall mean each Subsidiary of the U.S. Borrower that executes
and delivers any Subsidiaries Guaranty, unless and until such time as the respective Subsidiary is
released from all of its obligations under any relevant Subsidiaries Guaranty in accordance with
the terms and provisions thereof.

          “Supermajority Lenders” of any Tranche shall mean those Non-Defaulting Lenders which
would constitute the Required Lenders under, and as defined in, this Agreement if (x) all
outstanding Obligations of the other Tranches under this Agreement were repaid in full and all
Commitments with respect thereto were terminated and (y) the percentage “50%” contained therein
were changed to “66-2/3%.”

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          “Syndication Agent” shall have the meaning provided in the first paragraph of this
Agreement and shall include any successor to the Syndication Agent appointed pursuant to Section
12.10.

          “Syndication Date” shall mean the earlier of (i) the 30th day following the
Restatement Effective Date and (ii) the date upon which the Agents determine (and notify the U.S.
Borrower and the Lenders) that the primary syndication of the Tranche B Term Loans, the Tranche C
Term Loans and the CL Tranche (and resultant addition of Persons as Lenders pursuant to Section
13.04(b)) has been completed.

          “Synthetic Lease” shall mean, as applied to any Person, any lease (including leases
that may be terminated by the lessee at any time) of any property (whether real, personal or
mixed), (i) that is not a capital lease in accordance with U.S. GAAP and (ii) in respect of which
the lessee retains or obtains ownership of the property so leased for federal income tax purposes,
other than any such lease under which that Person is the lessor; provided that, for
purposes of this Agreement, the term “Synthetic Lease” shall not include the lease arising
pursuant to the Sale-Leaseback Transaction.

          “Tax Allocation Agreements” shall mean any tax sharing or tax allocation agreements
entered into by Holdings or any of its Subsidiaries, together with any agreements referred to in
Section 5.13(iv) of the Original Credit Agreement that continue to be in effect on the Restatement
Effective Date, and any amendments thereto made in accordance with the terms thereof and hereof.

          “Taxes” shall have the meaning provided in Section 4.04(a).

          “Term Loan Conversion” shall have the meaning provided in Section 1.01(b).

          “Term Loans” shall mean and include Tranche B Term Loans, Tranche C Term Loans and
each Incremental Term Loan.

          “Test Period” shall mean each period of four consecutive Fiscal Quarters then last
ended, in each case taken as one accounting period.

          “Third Party Scheduled Existing Indebtedness” shall have the meaning provided in
Section 7.21.

          “TL Priority Collateral” means all “TL Priority Collateral” as defined in the
Intercreditor Agreement.

          “TL Repayment Percentage” of any Tranche of Term Loans at any time shall be a fraction
(expressed as a percentage) (x) the numerator of which is the aggregate principal amount of
outstanding Term Loans of such Tranche and (y) the denominator of which is the sum of the aggregate
principal amount of all outstanding Term Loans at such time.

          “Total Commitment” shall mean, at any time, the sum of the Total Tranche B Term Loan
Commitment, the Total Tranche C Term Loan Commitment, the Total Incremental Term Loan Commitment
and the Total Credit-Linked Commitment.

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          “Total Credit-Linked Commitment” shall mean, at any time, the sum of the
Credit-Linked Commitments of each of the CL Lenders at such time.

          “Total Incremental Term Loan Commitment” shall mean, at any time, the sum of the
Incremental Term Loan Commitments of each of the Lenders with such a Commitment at such time.

          “Total Leverage Ratio” shall mean, on any date of determination, the ratio of (i)
Consolidated Net Debt on such date to (ii) Consolidated EBITDA for the Test Period most recently
ended on or prior to such date; provided that for all purposes of this Agreement,
Consolidated EBITDA for purposes of the Total Leverage Ratio shall be determined on a Pro Forma
Basis.

          “Total Tranche B Term Loan Commitment” shall mean, at any time, the sum of the Tranche
B Term Loan Commitments of each of the Lenders with such a Commitment at such time.

          “Total Tranche C Term Loan Commitment” shall mean, at any time, the sum of the Tranche
C Term Loan Commitments of each of the Lenders with such a Commitment at such time.

          “Total Unutilized Credit-Linked Commitment” shall mean, at any time, an amount equal
to the remainder of (x) the Total Credit-Linked Commitment as in effect at such time less
(y) the Aggregate CL Exposure at such time.

          “Trade Letter of Credit” shall have the meaning set forth in Section 2A.01(a).

          “Tranche” shall mean the respective facilities and commitments utilized in making
Loans and issuing Letters of Credit and Bank Guaranties hereunder (i.e., whether Tranche B
Term Loans, Tranche C Term Loans, the CL Tranche or Incremental Term Loans made pursuant to one or
more tranches designated pursuant to the respective Incremental Term Loan Commitment Agreements in
accordance with the relevant requirements specified in Section 1.15); provided that in the
circumstances contemplated by Section 1.15(c), Incremental Term Loans may be made part of a then
existing Tranche of Term Loans. On the Restatement Effective Date there shall be three Tranches
hereunder; namely (i) the CL Tranche, (ii) the Tranche B Term Loans and related commitments and
(iii) the Tranche C Term Loans and related commitments.

          “Tranche B Term Loan Commitment” shall mean, with respect to each Lender, the amount
set forth opposite such Lender’s name in Schedule I directly below the column entitled “Tranche B
Term Loan Commitment,” as the same may be terminated pursuant to Sections 3.02, 3.03 and/or 10.

          “Tranche B Term Loan Scheduled Repayment” shall have the meaning provided in Section
4.02(b)(i).

          “Tranche B Term Loan” shall have the meaning provided in Section 1.01(a).

          “Tranche B Term Note” shall have the meaning provided in Section 1.05(a).

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          “Tranche B/C Term Loan Maturity Date” shall mean April 12, 2013.

          “Tranche C Term Loan” shall mean have the meaning provided in Section 1.01(b).

          “Tranche C Term Loan Borrowing Amount” shall mean, with respect to each Lender, the
amount set forth opposite such Lender’s name in Schedule I directly below the column entitled
“Tranche C Term Loan Borrowing Amount,” (i.e., the sum of the Converted Tranche C Term Loans and
the Tranche C Term Loan Commitment) as the same may be (x) reduced from time to time as a result of
prepayments and repayments pursuant to Section 4.01, 4.02 and/or 10 or (y) adjusted from time to
time as a result of assignments of Tranche C Term Loans to or from such Lender pursuant to Section
1.13 to 13.04(b).

          “Tranche C Term Loan Commitment” shall mean, with respect to each Lender, the amount
set forth opposite such Lender’s name in Schedule I directly below the column entitled “Tranche C
Term Loan Commitment,” as the same may be terminated pursuant to Sections 3.02, 3.03 and/or 10.

          “Tranche C Term Loan Scheduled Repayment” shall have the meaning provided in Section
4.02(b)(ii).

          “Tranche C Term Note” shall have the meaning provided in Section 1.05(a).

          “Transaction” shall mean, collectively, (i) the amendment and restatement of the
Original Credit Agreement in the form of this Agreement as provided herein, (ii) the entering into
of the ABL Credit Documents and the initial borrowing thereunder, (iii) the occurrence of the
Restatement Effective Date and the Credit Events occurring on such date, (iv) the consummation of
the Refinancing, and (v) the payment of fees and expenses in connection with the foregoing.

          “Treaty” means the Treaty establishing the European Community being the Treaty of Rome
of March 25, 1957, as amended by the Single European Act 1986, the Maastricht Treaty (which was
signed at Maastricht on February 7, 1992) and the Treaty of Amsterdam (which was signed in
Amsterdam on October 2, 1997).

          “Type” shall mean the type of Loan determined with regard to the interest option
applicable thereto, i.e., whether a Base Rate Loan or a Eurodollar Loan.

          “U.S.” or “United States” shall mean the United States of America.

          “U.S. Borrower” shall have the meaning provided in the first paragraph of this
Agreement.

          “U.S. Borrower Common Stock” shall mean the issued and outstanding common stock, par
value $0.001 per share, of the U.S. Borrower.

          “U.S. Borrower Bank Guaranty” shall mean each Bank Guaranty (which may be denominated
in Dollars or an Alternative Currency) issued for the account of the U.S. Borrower

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pursuant to section 2B.01 and designated as such by the U.S. Borrower in the respective Bank
Guaranty Request.

          “U.S. Borrower Incremental Term Loans” shall mean Incremental Term Loans incurred by
the U.S. Borrower.

          “U.S. Borrower Letter of Credit” shall mean each Letter of Credit (which must be
denominated in Dollars or an Alternative Currency) issued for the account of the U.S. Borrower
pursuant to Section 2A.01.

          “U.S. Borrower Term Loans” shall mean and include all Tranche B Term Loans and all
U.S. Borrower Incremental Term Loans.

          “U.S. Credit Agreement Party” shall mean each Credit Agreement Party other than the
Bermuda Borrower.

          “U.S. Credit Party” shall mean each U.S. Credit Agreement Party and each U.S.
Subsidiary Guarantor.

          “U.S. Dole Group” shall mean the U.S. Borrower and the U.S. Subsidiary Guarantors.

          “U.S. Dollars,” “Dollars” and the sign “$” shall each mean freely
transferable lawful money of the United States of America.

          “U.S. GAAP” shall mean generally accepted accounting principles in the United States
of America as in effect from time to time; provided that determinations in accordance with
U.S. GAAP for purposes of the definition of “Incremental Term Loan Commitment Requirements” and
Sections 4.02, 8.15 and 9, including defined terms as used therein, and for all purposes of
determining the Senior Secured Leverage Ratio and the Total Leverage Ratio are subject (to the
extent provided therein) to Section 13.07(a).

          “U.S. Leasehold Property” shall mean each Leasehold Property located in the United
States.

          “U.S. Mortgaged Property” shall mean each Real Property located in the United States
or any State or territory thereof with respect to which a Mortgage is required to be delivered
pursuant to the terms of this Agreement.

          “U.S. Pledge Agreement” shall mean the Amended and Restated U.S. Pledge Agreement,
dated as the Restatement Effective Date, executed and delivered by each U.S. Credit Party in the
form of Exhibit H-1 (as amended, modified, restated and/or supplemented from time to time in
accordance with the terms hereof and thereof).

          “U.S. Pledge Agreement Collateral” shall mean all of the “Collateral” as defined in
the U.S. Pledge Agreement.

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          “U.S. Security Agreement” shall mean the Amended and Restated U.S. Security Agreement,
dated as of the Restatement Effective Date, executed and delivered by each U.S. Credit Party in the
form of Exhibit H-2 (as amended, modified, restated and/or supplemented from time to time in
accordance with the terms hereof and thereof).

          “U.S. Security Agreement Collateral” shall mean all of the “Collateral” as defined in
the U.S. Security Agreement.

          “U.S. Security Documents” shall mean and include the U.S. Security Agreement, the U.S.
Pledge Agreement, each Mortgage covering a U.S. Mortgage Property and each Additional Security
Document covering assets of a U.S. Credit Party situated in the United States.

          “U.S. Subsidiaries Guaranty” shall mean the Amended and Restated U.S. Subsidiaries
Guaranty, dated as of the Restatement Effective Date, executed and delivered by each U.S.
Subsidiary Guarantor in the form of Exhibit G-1 (as further amended, modified or supplemented from
time to time in accordance with the terms hereof and thereof).

          “U.S. Subsidiary Guarantor” shall mean (i) each Wholly-Owned Domestic Subsidiary of
the U.S. Borrower as of the Restatement Effective Date (other than the Excluded Domestic
Subsidiary) and (ii) each other Wholly-Owned Domestic Subsidiary of the U.S. Borrower created,
established or acquired after the Restatement Effective Date which executes and delivers a U.S.
Subsidiaries Guaranty, unless and until such time as the respective Domestic Subsidiary ceases to
constitute a Domestic Subsidiary or is released from all of its obligations under its U.S.
Subsidiaries Guaranty in accordance with the terms and provisions thereof.

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

          “Unfunded Current Liability” shall mean the amount, if any, by which the actuarial
present value of accumulated benefits of any Plan subject to Title IV of ERISA as of the close of
its most recent plan year, determined using actuarial assumptions at such time consistent with
those prescribed by Financial Account Standards No. 87, exceeds the fair market value of the assets
allocable to such liabilities.

          “Unpaid Drawing” shall have the meaning provided in Section 2A.05(a).

          “Unreimbursed Payment” shall have the meaning provided in Section 2B.05(a).

          “Unrestricted Cash” shall mean all cash and Cash Equivalents owned or held by the U.S.
Borrower and its Subsidiaries other than cash and Cash Equivalents owned or held by the Excluded
Bermuda Insurance Companies.

          “Unrestricted Subsidiary” of any Person shall mean (i) at any time prior to the
repayment in full of both the Existing 2009 Senior Notes and the Existing 2013 Senior Notes, any
Subsidiary of such Person that is not a Restricted Subsidiary and (ii) thereafter, any Subsidiary
of such Person.

          “Voting Participant” shall have the meaning provided in Section 13.04(a).

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          “Voting Participant Notice” shall have the meaning provided in Section 13.04(a).

          “Weighted Average Life to Maturity” shall mean, when applied to any Indebtedness at
any date, the number of years obtained by dividing (i) the then outstanding principal amount of
such Indebtedness into (ii) the product obtained by multiplying (x) the amount of each then
remaining installment or other required scheduled payments of principal, including payment at final
maturity, in respect thereof, by (y) the number of years (calculated to the nearest one-twelfth)
that will elapse between such date and the making of such payment.

          “Wellbeing Project” shall mean the start-up, construction and operation by Westlake
Wellbeing Company of a well-being center/hotel/spa/conference center/studio on the Westlake Village
Property.

          “Westlake Village Property” shall mean that certain property identified to the
Administrative Agent of twenty (20) acres (more or less) that is adjacent to the parcel on which
the U.S. Borrower’s Corporate Headquarters is located in the City of Westlake Village, Ventura
County, California.

          “Westlake Wellbeing Company” shall mean Westlake Wellbeing Properties LLC, a Delaware
limited liability company formed by Holdings to construct and operate the Wellbeing Project and/or
promote nutritional and wellbeing education.

          “Wholly-Owned Domestic Subsidiary” shall mean, as to any Person, any Wholly-Owned
Subsidiary of such Person that is a Domestic Subsidiary of such Person.

          “Wholly-Owned Foreign Subsidiary” shall mean, as to any Person, any Wholly-Owned
Subsidiary of such Person that is not a Domestic Subsidiary of such Person.

          “Wholly-Owned Subsidiary” shall mean, as to any Person, (i) any corporation 100% of
whose capital stock (other than director’s qualifying shares and/or other nominal amounts of shares
required by applicable law to be held by Persons other than such Person) is at the time owned by
such Person and/or one or more Wholly-Owned Subsidiaries of such Person and (ii) any partnership,
limited liability company, association, joint venture or other entity in which such Person and/or
one or more Wholly-Owned Subsidiaries of such Person has a 100% Equity Interest at such time;
provided that any Foreign Subsidiary of such Person at least 98% of whose capital stock or
other Equity Interests are owned by such Person and/or one or more Wholly-Owned Subsidiaries
(determined after giving effect to this proviso) of such Person at such time shall be deemed to be
a Wholly-Owned Subsidiary of such Person.

          “Written” (whether lower or upper case) or “in writing” shall mean any form of
written communication or a communication by means of telex, facsimile device, telegraph or cable.

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          Section 12. The Agents. Appointment. (a) Each Lender hereby irrevocably
designates and appoints (x) DBAG as Administrative Agent for such Lender (for purposes of this
Section 12 and the term “Agent” as used herein, the term “Administrative Agent” shall mean DBAG in
its capacities as Administrative Agent, Deposit Bank and as Collateral Agent hereunder and pursuant
to the Security Documents), (y) BAS as Syndication Agent for such Lender,
and (z) Scotia Capital and Rabobank as Co-Documentation Agents for such Lender, each to act as
specified herein and in the other Credit Documents, and each such Lender hereby irrevocably
authorizes the Administrative Agent, the Syndication Agent and each Co-Documentation Agent to take
such action on its behalf under the provisions of this Agreement and the other Credit Documents and
to exercise such powers and perform such duties as are expressly delegated to or required of the
Administrative Agent, the Syndication Agent or the Co-Documentation Agents, as the case may be, by
the terms of this Agreement and the other Credit Documents, together with such other powers as are
reasonably incidental thereto. Each of the Agents may perform any of their respective duties under
this Agreement, the other Credit Documents and any other instruments and agreements referred to
herein or therein by or through its respective officers, directors, agents, employees or affiliates
(it being understood and agreed, for avoidance of doubt and without limiting the generality of the
foregoing, that the Administrative Agent and/or Collateral Agent may perform any of its duties
under the Security Documents by or through one or more of its affiliates).

          (b) The provisions of this Section 12 are solely for the benefit of the Administrative Agent,
the Syndication Agent and the Co-Documentation Agents and the Lenders, and neither the U.S.
Borrower nor any of its Subsidiaries shall have any rights as a third party beneficiary of any of
the provisions hereof. In performing its functions and duties under this Agreement, each of the
Administrative Agent, the Syndication Agent and the Documentation Agent shall act solely as agent
for the Lenders, and none of the Administrative Agent, the Syndication Agent and the
Co-Documentation Agents assumes (and shall not be deemed to have assumed) any obligation or
relationship of agency or trust with or for the U.S. Borrower or any of its Subsidiaries.

          12.02 Nature of Duties. (a) No Agent shall have any duties or responsibilities
except those expressly set forth in this Agreement and in the other Credit Documents. Neither any
Agent nor any of its officers, directors, agents, employees or affiliates shall be liable for any
action taken or omitted by it hereunder or under any other Credit Document or in connection
herewith or therewith, unless caused by its or their gross negligence or willful misconduct (as
determined by a court of competent jurisdiction in a final and non-appealable decision). The
duties of the Agents shall be mechanical and administrative in nature; no Agent shall have by
reason of this Agreement or any other Credit Document a fiduciary relationship in respect of any
Lender or the holder of any Note and nothing in this Agreement or in any other Credit Document,
expressed or implied, is intended to or shall be so construed as to impose upon any Agent any
obligations in respect of this Agreement or any other Credit Document except as expressly set forth
herein or therein, provided, that the Administrative Agent and/or the Collateral Agent
shall be deemed to be a trustee and stand in a fiduciary relationship with respect to the Lenders
and the holders of Notes for purposes of any Security Document governed by the laws of a
jurisdiction located outside the United States where the Administrative Agent and/or the Collateral
Agent, as the case may be, shall determine, based on advice of local counsel, that same is
necessary or desirable for purposes of realizing the benefits intended to be conferred pursuant to
such Security

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Document, and the Lenders hereby irrevocably designate each of the Administrative
Agent and the Collateral Agent as their trustee for such purpose and authorize each of the
Administrative Agent and the Collateral Agent to at any time and from time to time take all actions
(including, without limitation, making demand for all amounts then due and payable and the exercise
of other remedies) on their behalf in accordance with the terms of such Security Document
without the necessity of any notice to or further consent from any Lender, and the Lenders
hereby agree to indemnify the Administrative Agent and the Collateral Agent (and each of their
respective officers, directors, trustees, employees, representatives and agents) and hold each of
them harmless against any and all liabilities, obligations (including removal or remedial actions),
losses, damages, penalties, claims, actions, judgments, suits, costs, expenses and disbursements
(including reasonable attorneys’ and consultants’ fees and disbursements) incurred by, imposed on
or assessed against any of them as a result of, or arising out of, or in any way related to, or by
reason of, the taking of any action or any omission to take action under any such Security Document
unless such action is taken or omitted to be taken with gross negligence or willful misconduct (as
determined by a court of competent jurisdiction in a final and non-appealable decision).

          (b) Notwithstanding any other provision of this Agreement or any provision of any other Credit
Document, the Lead Arranger is named as such for recognition purposes only, and in its capacity as
such shall have no powers, duties, responsibilities or liabilities with respect to this Agreement
or the other Credit Documents or the transactions contemplated hereby and thereby; it being
understood and agreed that the Lead Arranger shall be entitled to all indemnification and
reimbursement rights in favor of “Agents” as, and to the extent, provided for under Sections 12.07
and 13.01. Without limitation of the foregoing, the Lead Arranger shall not, solely by reason of
this Agreement or any other Credit Documents, have any fiduciary relationship in respect of any
Lender or any other Person.

          12.03 Certain Rights of the Agents. The Agents shall have the right to request
instructions from the Required Lenders at any time. If any Agent shall request instructions from
the Required Lenders with respect to any act or action (including failure to act) in connection
with this Agreement or any other Credit Document, such Agent shall be entitled to refrain from such
act or taking such action unless and until such Agent shall have received instructions from the
Required Lenders; and such Agent shall not incur liability to any Lender by reason of so
refraining. Without limiting the foregoing, neither any Lender nor the holder of any Note shall
have any right of action whatsoever against any Agent or any of its employees, directors, officers,
agents or affiliates as a result of such Agent or such other person acting or refraining from
acting hereunder or under any other Credit Document in accordance with the instructions of the
Required Lenders.

          12.04 Reliance by Agents. Each Agent shall be entitled to rely, and shall be fully
protected (and shall have no liability to any Person) in relying, upon any note, writing,
resolution, notice, statement, certificate, telex, teletype or telecopier message, cablegram,
radiogram, order, telephone message or other document or conversation that such Agent believed, in
the absence of gross negligence or willful misconduct (as determined by a court of competent
jurisdiction in a final and non-appealable decision), to be the proper Person, and, with respect to
all legal matters pertaining to this Agreement and any other Credit Document and its duties
hereunder and thereunder, upon advice of counsel selected by such Agent (which may be counsel for
the Credit

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Parties) and, with respect to other matters, upon advice of independent public
accountants or other experts selected by it.

          12.05 Notice of Default, etc. The Administrative Agent shall not be deemed to have
knowledge or notice of the occurrence of any Default or Event of Default unless the Administrative
Agent has actually received written notice from a Lender or the U.S. Borrower or
either Borrower referring to this Agreement, describing such Default or Event of Default and
stating that such notice is a “notice of default.” In the event that the Administrative Agent
receives such a notice, the Administrative Agent shall give prompt notice thereof to the Lenders.
The Administrative Agent shall take such action with respect to such Default or Event of Default as
shall be reasonably directed by the Required Lenders; provided that, unless and until the
Administrative Agent shall have received such directions, the Administrative Agent may (but shall
not be obligated to) take such action, or refrain from taking such action, with respect to such
Default or Event of Default as it shall deem advisable in the best interests of the Lenders (as
determined by the Administrative Agent in its sole discretion).

          12.06 Nonreliance on Agents and Other Lenders. Independently and without reliance
upon any Agent, each Lender, each Issuing Lender, each Bank Guaranty Issuer and the holder of each
Note, to the extent it deems appropriate, has made and shall continue to make its own independent
investigation of the financial condition and affairs of the U.S. Borrower and its Subsidiaries in
connection with the making and the continuance of the Loans, the issuance and the participation in
Letters of Credit or Bank Guaranties and the taking or not taking of any action in connection
herewith and, except as expressly provided in this Agreement, no Agent shall have any duty or
responsibility, either initially or on a continuing basis, to provide any Lender, any Issuing
Lender, any Bank Guaranty Issuer or the holder of any Note with any credit or other information
with respect thereto, whether coming into its possession before the making of the Loans, the
issuing of any Letter of Credit or any Bank Guaranty or at any time or times thereafter. No Agent
or their respective affiliates nor any of their respective officers, directors, agents or employees
shall be responsible to any Lender, any Issuing Lender, any Bank Guaranty Issuer or the holder of
any Note for, or be required or have any duty to ascertain, inquire or verify the accuracy of, (i)
any recitals, statements, information, representations or warranties herein or in any document,
certificate or other writing delivered in connection herewith, (ii) the execution, effectiveness,
genuineness, validity, enforceability, perfection, collectibility, priority or sufficiency of this
Agreement or any other Credit Document, (iii) the financial condition of the U.S. Borrower and any
of its Subsidiaries, (iv) the performance or observance of any of the terms, provisions or
conditions of this Agreement or any other Credit Document, (v) the satisfaction of any of the
conditions precedent set forth in Section 5 of the Original Credit Agreement or Section 6, or (vi)
the existence or possible existence of any Default or Event of Default.

          12.07 Indemnification. (a) To the extent any Agent (or any affiliate thereof) is not
reimbursed and indemnified by the Credit Agreement Parties, the Lenders will reimburse and
indemnify such Agent (and any affiliate thereof) in proportion to their respective “percentages” as
used in determining the Required Lenders (determined as if there were no Defaulting Lenders and at
the time such indemnity is sought), for and against any and all liabilities, obligations, losses,
damages, penalties, claims, actions, judgments, costs, expenses or disbursements of whatsoever kind
or nature which may be imposed on, asserted against or incurred by such Agent (or any affiliate
thereof) in performing its respective duties hereunder or under any other Credit

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Document or in any
way relating to or arising out of this Agreement or any other Credit Document in its capacity as
Agent, provided that no Lender shall be liable for any portion of such liabilities,
obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or
disbursements resulting from such Agent’s gross negligence or willful misconduct (as determined by
a court of competent jurisdiction in a final and non-appealable decision).

          (b) Any Agent shall be fully justified in failing or refusing to take any action hereunder and
under any other Credit Document (except actions expressly required to be taken by it hereunder or
under the Credit Documents) unless it shall first be indemnified to its satisfaction by the Lenders
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.

          (c) The agreements in this Section 12.07 shall survive the payment of all Obligations.

          12.08 Agents in their Individual Capacities. (a) With respect to its obligation to
make Loans, or issue or participate in Letters of Credit or Bank Guaranties, under this Agreement,
each Agent shall have the rights and powers specified herein for a “Lender” and may
exercise the same rights and powers as though it were not performing the duties specified herein;
and the term “Lender,” “Required Lenders,” “Supermajority Lenders,” “Majority Lenders,” “holders of
Notes” or any similar terms shall, unless the context clearly otherwise indicates, include each
Agent in its individual capacity. Each Agent and its affiliates may accept deposits from, lend
money to, and generally engage in any kind of banking, investment banking, trust or other business
with, or provide debt financing, equity capital or other services (including financial advisory
services) to, any Credit Party or any Affiliate of any Credit Party (or any Person engaged in a
similar business with any Credit Party or any Affiliate thereof) as if they were not performing the
duties specified herein, and may accept fees and other consideration from any Credit Party or any
Affiliate of any Credit Party for services in connection with this Agreement and otherwise without
having to account for the same to the Lenders.

          (b) Without limiting the provisions of preceding clause (a), the parties hereto acknowledge
and agree that any Agent hereunder may also act in individual or agency capacities in connection
with other financings, including, without limitation, pursuant to the ABL Credit Documents. The
parties hereto agree to each of the Agents acting in such other individual and agency capacities,
and shall not raise any claim in connection therewith (except to the extent resulting from the
gross negligence or willful misconduct of the respective such Person as an Agent hereunder).

          12.09 Holders. The Administrative Agent may deem and treat the payee of any Note as
the owner thereof for all purposes hereof unless and until a written notice of the assignment,
transfer or endorsement thereof, as the case may be, shall have been filed with the Administrative
Agent. Any request, authority or consent of any Person or entity who, at the time of making such
request or giving such authority or consent, is the holder of any Note shall be conclusive and
binding on any subsequent holder, transferee, assignee or endorsee, as the case may be, of such
Note or of any Note or Notes issued in exchange therefor.

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          12.10 Resignation of the Agents. (a) The Administrative Agent may resign from the
performance of all its functions and duties hereunder and/or under the other Credit Documents
(including, without limitation, its functions and duties as Collateral Agent) at any time by giving
30 Business Days’ prior written notice to the Lenders and, unless a Default or an Event of Default
under Section 10.05 then exists, the U.S. Borrower. Any such resignation by the Administrative
Agent hereunder shall also constitute its resignation (if applicable) as an Issuing Lender and Bank
Guaranty Issuer in which case the resigning Administrative Agent (x) shall
not be required to issue any further Letters of Credit or Bank Guaranties hereunder and (y)
shall maintain all of its rights as Issuing Lender or Bank Guaranty Issuer, as the case may be,
with respect to any Letter of Credit or Bank Guaranty issued by it, prior to the date of such
resignation. Such resignation shall take effect upon the appointment of a successor Administrative
Agent pursuant to clauses (b) and (c) below or as otherwise provided below.

          (b) Upon any such notice of resignation by the Administrative Agent, the Required Lenders
shall appoint a successor Administrative Agent hereunder and/or under the other Credit Documents
who shall be a commercial bank or trust company acceptable to the U.S. Borrower, which acceptance
shall not be unreasonably withheld or delayed (provided that the U.S. Borrower’s approval
shall not be required if an Event of Default then exists).

          (c) If a successor Administrative Agent shall not have been so appointed within such 30
Business Day period, the Administrative Agent, with the consent of the U.S. Borrower (which consent
shall not be unreasonably withheld or delayed, provided that the U.S. Borrower’s consent
shall not be required if an Event of Default then exists), shall then appoint a successor
Administrative Agent who shall serve as Administrative Agent hereunder and/or under the other
Credit Documents until such time, if any, as the Required Lenders appoint a successor
Administrative Agent as provided above.

          (d) If no successor Administrative Agent has been appointed pursuant to clause (b) or (c)
above by the 30th Business Day after the date such notice of resignation was given by the
Administrative Agent, the Administrative Agent’s resignation shall become effective and the
Required Lenders shall thereafter perform all the duties of the Administrative Agent hereunder
and/or under any other Credit Document until such time, if any, as the Lenders appoint a successor
Administrative Agent as provided above.

          (e) The Syndication Agent may resign from the performance of all its functions and duties
hereunder and/or under the other Credit Documents at any time by giving five Business Days’ prior
written notice to the Lenders. Such resignation shall take effect at the end of such five Business
Day period.

          (f) Each Co-Documentation Agent may resign from the performance of all its functions and
duties hereunder and/or under the other Credit Documents at any time by giving five Business Days’
prior written notice to the Lenders. Such resignation shall take effect at the end of such five
Business Day period.

          (g) Upon a resignation of any Agent pursuant to this Section 12.10, such Agent shall remain
indemnified to the extent provided in this Agreement and the other Credit

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Documents and the
provisions of this Section 12 shall continue in effect for the benefit of such Agent for all of its
actions and inactions while serving as such Agent.

          12.11 Collateral Matters. (a) Each Lender authorizes and directs the Collateral
Agent to enter into the Security Documents and the Intercreditor Agreement. Each Lender hereby
agrees, and each holder of any Note or participant in Letters of Credit or Bank Guaranty by the
acceptance thereof will be deemed to agree, that, except as otherwise set forth herein, any action
taken by the Required Lenders in accordance with the provisions of this Agreement or the
Security Documents, subject to the provisions of the Intercreditor Agreement, and the exercise
by the Required Lenders of the powers set forth herein or therein, together with such other powers
as are reasonably incidental thereto, shall be authorized and binding upon all of the Lenders. The
Collateral Agent is hereby authorized on behalf of all of the Lenders, without the necessity of any
notice to or further consent from any Lender, from time to time prior to an Event of Default, to
take any action with respect to any Collateral or Security Documents, subject to the provisions of
the Intercreditor Agreement, which may be necessary to perfect and maintain perfected the security
interest in and liens upon the Collateral granted pursuant to the Security Documents.

          (b) The Lenders hereby authorize the Collateral Agent, at its option and in its discretion, to
release any Lien granted to or held by the Collateral Agent upon any Collateral, subject to the
provisions of the Intercreditor Agreement, (i) upon termination of the Commitments (and all Letters
of Credit and Bank Guaranties) and indefeasible payment and satisfaction in full of all of the
Obligations at any time arising under or in respect of this Agreement or the Credit Documents or
the transactions contemplated hereby or thereby, (ii) constituting property being sold or otherwise
disposed of (to Persons other than the U.S. Borrower and its Subsidiaries) upon the sale or other
disposition thereof in compliance with Section 9.02, (iii) if approved, authorized or ratified in
writing by the Required Lenders (or all of the Lenders hereunder, to the extent required by Section
13.12), (iv) as otherwise may be expressly provided in the relevant Security Documents. Upon
request by the Administrative Agent at any time, the Lenders will confirm in writing the Collateral
Agent’s authority to release particular types or items of Collateral pursuant to this Section 12.11
or (v) constituting Equity Interests or assets of any Subsidiary of the U.S. Borrower (other than
the Bermuda Borrower) upon the liquidation or dissolution of such Subsidiary in a transaction
permitted by the Credit Documents.

          (c) The Collateral Agent shall have no obligation whatsoever to the Lenders or to any other
Person to assure that the Collateral exists or is owned by any Credit Agreement Party or any of its
Subsidiaries or is cared for, protected or insured or that the Liens granted to the Collateral
Agent herein or pursuant hereto have been properly or sufficiently or lawfully created, perfected,
protected or enforced or are entitled to any particular priority, or to exercise or to continue
exercising at all or in any manner or under any duty of care, disclosure or fidelity any of the
rights, authorities and powers granted or available to the Collateral Agent in this Section 12.11
or in any of the Security Documents, it being understood and agreed that in respect of the
Collateral, or any act, omission or event related thereto, the Collateral Agent may act in any
manner it may deem appropriate, in its sole discretion, given the Collateral Agent’s own interest
in the Collateral as one of the Lenders and that the Collateral Agent shall have no duty or
liability whatsoever to the Lenders, except for its gross negligence or willful misconduct (as
determined by a court of competent jurisdiction in a final and non-appealable decision).

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          12.12 Delivery of Information. The Administrative Agent shall not be required to
deliver to any Lender originals or copies of any documents, instruments, notices, communications or
other information received by the Administrative Agent from any Credit Agreement Party, any
Subsidiary, the Required Lenders, any Lender or any other Person under or in connection with this
Agreement or any other Credit Document except (i) as specifically provided in this Agreement or any
other Credit Document and (ii) as specifically requested from time to time in writing by any Lender
with respect to a specific document, instrument, notice or other written
communication received by and in the possession of the Administrative Agent at the time of
receipt of such request and then only in accordance with such specific request.

          12.13 Special Appointment of Collateral Agent (Germany). (a) Without prejudice to
the generality of Section 12.11:

     (i) each Lender hereby appoints, on the terms hereof, and each Hedging Creditor (as
defined in the U.S. Security Agreement) by its acceptance of the benefits of the German
Security (as defined below) and by notice in writing to the Collateral Agent to that effect
hereby appoints, on the terms hereof, the Collateral Agent as trustee (Treuhaender), agent
and administrator for the purpose of holding on trust (Treuhand), accepting, administering
and enforcing the German Security for and on behalf of the Lenders and the other Secured
Creditors;

     (ii) the Collateral Agent accepts its appointment as a trustee (Treuhaender), agent and
administrator of the German Security on the terms and subject to the conditions set out in
this Agreement;

     (iii) the Secured Creditors agree that, in relation to the German Security, no Secured
Creditor shall exercise any independent power to enforce any German Security or take any
other action in relation to the enforcement of the German Security, or make or receive any
declarations in relation thereto.

     (b) The Collateral Agent shall:

     (i) hold and administer any German Security which is security assigned or otherwise
transferred (Sicherungsübereignung/Sicherungsabtretung) under German law under a
non-accessory security right (nicht akzessorische Sicherheit) to it as a trustee
(Treuhaender) for the benefit of the Secured Creditors; and

     (ii) administer any German Security which is pledged under German law (Verpfaendung) or
otherwise transferred in accordance with German law to any of the Secured Creditors under an
accessory security right (akzessorische Sicherheit).

          “German Security” means the assets the subject of a security document which is
governed by German Law. Each Secured Creditor hereby authorizes the Collateral Agent to accept, as
its representative (Stellvertreter), any German Security created in favor of such Secured Creditor.

          (c) Furthermore, each Secured Creditor hereby authorizes (bevollmaechtigt) the Collateral
Agent (with the right of sub-delegation) to enter into any documents evidencing

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German Security and
to make and accept all declarations and take all actions as it considers necessary or useful in
connection with any German Security on behalf of such Secured Creditor. The Collateral Agent shall
further be entitled to rescind, amend and/or execute new and different documents securing the
German Security. The Collateral Agent is released from the restrictions arising under Clause 181
of the German Civil Code (Buergerliches Gesetzbuch) (restrictions on self-dealing).

          12.14 Special Provisions Relating to Canadian Security Documents. (a) For greater
certainty, and without limiting the powers of the Collateral Agent hereunder or under any of the
Foreign Security Documents, each of the Bermuda Borrower and the Secured Creditors hereby
acknowledges that the Collateral Agent is, for purposes of holding any security granted by Dole
Foods of Canada Ltd. (“Dole Canada”) on the property of Dole Canada pursuant to the laws of
the Province of Quebec, the holder of an irrevocable power of attorney (fondé de pouvoir) (within
the meaning of the Civil Code of Quebec) for all present and future Secured Creditors and in
particular for all present and future holders of the bond issued by Dole Canada in favor of the
Collateral Agent (the “Canadian Bond”). Each of the Agents and Lenders (for themselves as
Secured Creditors and for the Other Creditors (as defined in the security agreement governed by the
laws of the Province of Ontario executed by Dole Canada (the “Canadian Security
Agreement”)) hereby irrevocably confirms the constitution of and constitutes, to the extent
necessary, the Collateral Agent as the holder of an irrevocable power of attorney (fondé de
pouvoir) (within the meaning of Article 2692 of the Civil Code of Quebec) in order to hold security
granted by Dole Canada in the Province of Quebec to secure the Canadian Bond. The acceptance of an
assignment by an assignee of a Secured Creditor shall be deemed to have confirmed and ratified the
constitution of the Collateral Agent as the holder of such irrevocable power of attorney (fondé de
pouvoir). For greater certainty, by their acceptance of the benefits of the Canadian Security
Agreement, each of the Other Creditors (as defined in the Canadian Security Agreement) shall be
deemed to have confirmed and ratified the appointment of the Collateral Agent for purposes of the
Bond and the Bond pledge agreement to be entered into by Dole Canada pursuant to the laws of the
Province of Quebec. Notwithstanding the provisions of Section 32 of An Act respecting the special
powers of legal persons (Quebec), each of the Bermuda Borrower, the Agents and the Lenders (for
themselves as Secured Creditors and for the Other Creditors) agree that the Collateral Agent may
acquire and be the holder of the Canadian Bond. The Bermuda Borrower hereby acknowledges that the
Canadian Bond constitutes a title of indebtedness, as such term is used in Article 2692 of the
Civil Code of Quebec.

          (b) Each Lender irrevocably consents to the amendment of the Canadian Security Agreement
pursuant to the acknowledgement, confirmation and amendment of security dated as of the date hereof
between Dole Canada and the Collateral Agent.

          12.15 Special Appointment of Collateral Agent (Italy). (a) Without prejudice to the
generality of Section 12.11:

     (i) each Lender (including, without limitation, each Lender which is a Hedging Creditor
(as defined in the Foreign Subsidiaries Guaranty)) (as “mandante” under Italian law), by
executing this Agreement, irrevocably appoints the Collateral Agent to act as agent
(“mandatario con rappresentanza” under Italian law) under and in connection with the Foreign
Security Documents governed by Italian law (collectively, the “Ital-

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ian Collateral
Documents”) and irrevocably authorizes the Collateral Agent (x) to execute on its behalf
the Italian Collateral Documents, and (y) to perform the duties and to exercise the rights,
powers and discretions that are specifically delegated to it under or in connection with the
Italian Collateral Documents, together with any other incidental rights, powers and
discretions; and

     (ii) each Lender (including, without limitation, each Lender which is a Hedging
Creditor (as defined in the Foreign Subsidiaries Guaranty)) irrevocably authorizes the
Collateral Agent for and on its behalf to exercise the rights, powers and discretions which
are specifically delegated to it by the terms of the Italian Collateral Documents and this
Agreement, together with all rights, powers and discretions which are incidental thereto and
to give any discharge for any monies payable under the Italian Collateral Documents.

          (b) Notwithstanding Section 13.08 hereof, the provisions of this Section 12.15 shall be
governed by Italian law.

          12.16 Continuing Indemnities for Original Agents. Notwithstanding the Amendment and
Restatement of the Original Credit Agreement, the parties hereto understand and agree that all
indemnities provided pursuant to the Original Credit Agreement (whether by the Original Lenders,
the Borrowers or any other Credit Party) shall continue in full force and effect in accordance with
the terms of the Original Credit Agreement, for any actions or occurrences prior to the Restatement
Effective Date, in accordance with the terms of the Original Credit Agreement. Any indemnities
pursuant to the preceding sentence shall be in addition to any applicable indemnities hereunder.

          Section 13. Miscellaneous.

          13.01 Payment of Expenses, etc. The Credit Agreement Parties jointly and severally
agree to: (i) whether or not the transactions herein contemplated are consummated, pay all
reasonable out-of-pocket costs and expenses of the Agents, the Collateral Agent, the Intermediate
Holdco Paying Agent, and the Deposit Bank (including, without limitation, the reasonable fees and
disbursements of White & Case LLP and local and foreign counsel) in connection with the
negotiation, preparation, execution, delivery and administration of this Agreement and the other
Credit Documents (including, without limitation, with respect to the Intermediate Holdco
Refinancing, the Intermediate Holdco Prepayment Consummation and the administration of the
Credit-Linked Deposit Account and the Credit-Linked Deposits) and the documents and instruments
referred to herein and therein and of the Administrative Agent and the Collateral Agent in
connection with any amendment, waiver or consent relating hereto or thereto, and of each Agent in
connection with its syndication efforts with respect to this Agreement; provided,
however, that the Credit Agreement Parties shall not be obligated to pay legal fees and
expenses of counsel incurred in connection with the initial negotiation, preparation, execution and
delivery of the Credit Documents other than the legal fees and expenses of White & Case LLP, and
such other local and foreign counsel as may be engaged by the Administrative Agent to address
issues arising in connection with the Transaction and/or to prepare security documentation governed
by local or foreign law; (ii) pay all reasonable out-of-pocket costs and expenses of each Agent,
the Collateral Agent, each Issuing Lender, each Bank Guaranty Issuer, the Intermediate Holdco
Paying Agent, the Deposit Bank and each of the Lenders in connection with the enforcement of the
Cre-

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dit Documents and the documents and instruments referred to therein or entered into or delivered
in connection therewith (including, without limitation, the reasonable fees and disbursements of
counsel) and the protection of the rights of each Agent, the Collateral Agent, each Issuing Lender,
each Bank Guaranty Issuer, the Intermediate Holdco Paying Agent, the Deposit Bank and each of the
Lenders thereunder (including, without limitation, the reasonable fees and disbursements of counsel
(including in-house counsel) for each Agent, the Collateral Agent, each
Issuing Lender, each Bank Guaranty Issuer, the Intermediate Holdco Paying Agent, the Deposit
Bank and each of the Lenders); (iii) pay and hold each of the Agents, the Collateral Agent, each
Issuing Lender, each Bank Guaranty Issuer, the Intermediate Holdco Paying Agent, the Deposit Bank
and each of the Lenders harmless from and against any and all present and future stamp,
documentary, transfer, sales and use, value added, excise and other similar taxes with respect to
the foregoing matters, the performance of any obligation under this Agreement or any other Credit
Document or any payment thereunder, and save each of the Agents, the Collateral Agent, each Issuing
Lender, each Bank Guaranty Issuer, the Intermediate Holdco Paying Agent, the Deposit Bank and each
of the Lenders harmless from and against any and all liabilities with respect to or resulting from
any delay or omission (other than to the extent attributable to the Agents, the Collateral Agent,
such Issuing Lender, such Bank Guaranty Issuer, the Intermediate Holdco Paying Agent, the Deposit
Bank or such Lender) to pay such taxes; and (iv) indemnify each Agent, the Collateral Agent, each
Issuing Lender, each Bank Guaranty Issuer, the Intermediate Holdco Paying Agent, the Deposit Bank,
each Lender, each affiliate of the foregoing Persons and their respective officers, directors,
employees, representatives, trustees, advisors, and agents (each, an “Indemnified Person”)
from and hold each of them harmless against any and all liabilities, obligations (including removal
or remedial actions), losses, damages, penalties, claims, actions, costs, expenses and
disbursements incurred by, imposed on or assessed against any of them as a result of, or arising
out of, or in any way related to, or by reason of, (a) any investigation, litigation or other
proceeding (whether or not any Agent, the Collateral Agent, any Issuing Lender, any Bank Guaranty
Issuer, the Intermediate Holdco Paying Agent, the Deposit Bank or any Lender is a party thereto and
whether or not any such investigation, litigation or other proceeding is between or among any
Agent, the Collateral Agent, any Issuing Lender, any Bank Guaranty Issuer, the Intermediate Holdco
Paying Agent, the Deposit Bank, any Lender, any Credit Party or any third Person or otherwise)
related to the entering into and/or performance of this Agreement or any other Document or the use
of any Letter of Credit, Bank Guaranty, any Intermediate Holdco Repayment Funds, Credit-Linked
Deposit or the proceeds of any Loans hereunder or the Transaction or the consummation of any other
transactions contemplated by any Document or the exercise or enforcement of any of their rights or
remedies provided herein or in the other Credit Documents (but excluding any such liabilities,
obligations, losses, damages, penalties, claims, actions, costs, expenses and disbursements to the
extent incurred by reason of the gross negligence or willful misconduct (as determined by a court
of competent jurisdiction in a final and non-appealable decision) of the Person to be indemnified),
or (b) the actual or alleged presence of Hazardous Materials in the air, surface water or
groundwater or on the surface or subsurface of any Real Property at any time owned, leased or
operated by any Credit Party or any of its Subsidiaries, the Release, generation, storage,
transportation, handli
ng or disposal of Hazardous Materials at any location, whether or not owned,
leased or operated by any Credit Party or any of its Subsidiaries, the non-compliance of any Real
Property with foreign, federal, state and local laws, regulations, and ordinances (including
applicable permits thereunder) applicable to any Real Property, or any Environmental Claim in
connection with or relating to any Credit Party,

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any of its Subsidiaries or any of their operations
or activities or any Real Property at any time owned, leased or operated by any Credit Party or any
of its Subsidiaries, in each case, including, without limitation, the reasonable fees and
disbursements of counsel and independent consultants incurred in connection with any such
investigation, litigation or other proceeding (but excluding any such liabilities, obligations,
losses, damages, penalties, claims, actions, costs, expenses and disbursements to the extent
incurred by reason of the gross negligence or willful misconduct (as
determined by a court of competent jurisdiction in a final and non-appealable decision) of the
Person to be indemnified)). To the extent that the undertaking to indemnify, pay or hold harmless
any Agent, the Collateral Agent, any Issuing Lender, any Bank Guaranty Issuer, the Intermediate
Holdco Paying Agent, the Deposit Bank, or any Lender set forth in the preceding sentence may be
unenforceable because it is violative of any law or public policy, the Credit Agreement Parties
hereby agree to make the maximum contribution to the payment and satisfaction of each of the
indemnified liabilities which is permissible under applicable law.

          13.02 Right of Setoff. (a) In addition to any rights now or hereafter granted under
applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence
of an Event of Default, each Agent, each Issuing Lender, each Bank Guaranty Issuer, each Lender and
the Collateral Agent is hereby authorized at any time or from time to time, without presentment,
demand, protest or other notice of any kind to the U.S. Borrower or any of its Subsidiaries or to
any other Person, any such notice being hereby expressly waived, to set off and to appropriate and
apply any and all deposits (general or special) and any other Indebtedness at any time held or
owing by such Agent, such Issuing Lender, Bank Guaranty Issuer, such Lender or the Collateral Agent
(including, without limitation, by branches and agencies of such Agent, such Issuing Lender, such
Bank Guaranty Issuer, such Lender or the Collateral Agent wherever located) to or for the credit or
the account of the U.S. Borrower or any of its Subsidiaries against and on account of the
Obligations and liabilities of the U.S. Borrower or such Subsidiary, as the case may be, to such
Agent, such Issuing Lender, such Bank Guaranty Issuer, such Lender or the Collateral Agent under
this Agreement or under any of the other Credit Documents, including, without limitation, all
interests in Obligations purchased by such Lender pursuant to Section 13.06(b), all participations
by any Lender in Letters of Credit, Bank Guaranties as required pursuant to the provisions of this
Agreement and all other claims of any nature or description arising out of or connected with this
Agreement or any other Credit Document, irrespective of whether or not such Agent, such Issuing
Lender, such Bank Guaranty Issuer, such Lender or the Collateral Agent shall have made any demand
hereunder and although said Obligations shall be contingent or unmatured. Each Borrower agrees
that any Lender purchasing participations in one or more Letters of Credit or Bank Guaranties
issued to it as required by the provisions of this Agreement, or purchasing participations as
required by Section 13.06(b), may, to the fullest extent permitted by law, exercise all rights
(including without limitation the right of setoff) with respect to such participations as fully as
if such Lender is a direct creditor of such Borrower with respect to such participations in the
amount thereof.

          (b) NOTWITHSTANDING THE FOREGOING SUBSECTION (a), AT ANY TIME THAT THE LOANS OR ANY OTHER
OBLIGATION SHALL BE SECURED BY REAL PROPERTY LOCATED IN CALIFORNIA, NO LENDER OR THE ADMINISTRATIVE
AGENT SHALL EXERCISE A RIGHT OF SETOFF, LIEN OR COUNTERCLAIM OR TAKE ANY COURT OR ADMINISTRATIVE
ACTION OR INSTITUTE ANY PROCEEDING TO ENFORCE ANY PROVISION OF THIS AGREEMENT OR ANY NOTE UN-

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LESS IT
IS TAKEN WITH THE CONSENT OF THE REQUIRED LENDERS OR APPROVED IN WRITING BY THE ADMINISTRATIVE
AGENT, IF SUCH SETOFF OR ACTION OR PROCEEDING WOULD OR MIGHT (PURSUANT TO CALIFORNIA CODE OF CIVIL
PROCEDURE SECTIONS 580a, 580b, 580d AND 726 OF THE CALIFORNIA CODE OF CIVIL PROCEDURE OR SECTION
2924 OF THE CALIFORNIA CIVIL CODE, IF APPLICABLE, OR OTHERWISE) AFFECT OR IMPAIR THE VALIDITY,
PRIORITY OR ENFORCEABILITY OF THE LIENS GRANTED TO THE COLLATERAL AGENT PURSUANT TO THE SECURITY DOCUMENTS
OR THE ENFORCEABILITY OF THE NOTES AND OTHER OBLIGATIONS HEREUNDER, AND ANY ATTEMPTED EXERCISE BY
ANY LENDER OR THE ADMINISTRATIVE AGENT OF ANY SUCH RIGHT WITHOUT OBTAINING SUCH CONSENT OF THE
REQUIRED LENDERS OR THE ADMINISTRATIVE AGENT SHALL BE NULL AND VOID. THIS SUBSECTION (b) SHALL BE
SOLELY FOR THE BENEFIT OF EACH OF THE LENDERS AND THE ADMINISTRATIVE AGENT HEREUNDER.

          13.03 Notices. (a) Except as otherwise expressly provided herein, all notices and
other communications provided for hereunder shall be in writing (including telegraphic, telex,
facsimile or cable communication) and mailed, telegraphed, telexed, telecopied, cabled or
delivered: if to any Credit Agreement Party, at the address specified opposite its signature
below; if to any Lender, at its address specified for such Lender on Schedule II; and if to the
Administrative Agent, at its Notice Office; or, as to any Credit Agreement Party or any of the
Agents, at such other address as shall be designated by such party in a written notice to the other
parties hereto and, as to each Lender, at such other address as shall be designated by such Lender
in a written notice to the U.S. Borrower and the Administrative Agent. All such notices and
communications shall be mailed, telegraphed, telexed, telecopied or cabled or sent by overnight
courier, and shall be effective when received.

          (b) Without in any way limiting the obligation of the U.S. Borrower and its Subsidiaries to
confirm in writing any telephonic notice permitted to be given hereunder, any Agent, any Issuing
Lender (in the case of the issuance of a Letter of Credit) or any Bank Guaranty Issuer (in the case
of the issuance of a Bank Guaranty), as the case may be, may prior to receipt of written
confirmation act without liability upon the basis of such telephonic notice, believed by such
Agent, such Issuing Lender or such Bank Guaranty Issuer in good faith to be from an Authorized
Officer. In each such case, the U.S. Borrower and each of the Borrowers hereby waive the right to
dispute such Agent’s, or such Issuing Lender’s or such Bank Guaranty Issuer’s record of the terms
of such telephonic notice.

          13.04 Benefit of Agreement. (a) This Agreement shall be binding upon and inure to
the benefit of and be enforceable by the respective successors and assigns of the parties hereto;
provided, however, no Credit Agreement Party may assign or transfer any of its
rights, obligations or interest hereunder or under any other Credit Document without the prior
written consent of each of the Lenders and, provided, further, that, although any
Lender may (without the consent of any Credit Party) transfer, assign or grant participations in
its rights hereunder, such Lender shall remain a “Lender” for all purposes hereunder (and
may not transfer or assign all or any portion of its Commitments or Loans hereunder except as
provided in Section 13.04(b)) and the transferee, assignee or participant, as the case may be,
shall not constitute a “Lender” hereunder and, provided, further, that no
Lender shall transfer or grant any participa-

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tion under which the participant shall have rights to
approve any amendment to or waiver of this Agreement or any other Credit Document except (I) to the
extent such amendment or waiver would (i) extend the final scheduled maturity of any Loan, Note,
Letter of Credit or Bank Guaranty (unless such Letter of Credit or Bank Guaranty is not extended
beyond the CL Maturity Date) in which such participant is participating, or reduce the rate or
extend the time of payment of interest or Fees thereon (except in connection with a waiver of
applicability of any post-
default increase in interest rates) or reduce the principal amount thereof, or increase the
amount of the participant’s participation over the amount thereof then in effect (it being
understood that a waiver of any Default or Event of Default or of a mandatory reduction in the
Total Commitment or of a mandatory repayment of Loans shall not constitute a change in the terms of
such participation, that an increase in any Commitment or Loan shall be permitted without the
consent of any participant if the participant’s participation is not increased as a result thereof
and that any amendment or modification to the financial definitions in this Agreement shall not
constitute a reduction in any rate of interest or fees for purposes of this clause (i),
notwithstanding the fact that such amendment or modification actually results in such a reduction),
(ii) consent to the assignment or transfer by any Credit Agreement Party of any of its rights and
obligations under this Agreement or (iii) release all or substantially all of the Collateral under
all of the Security Documents (except as expressly provided in the Security Documents) supporting
the Obligations in which such participant is participating and (II) that, solely in the case of a
participant (each, a “Voting Participant”) which (x) has purchased a participation interest
in such Lender’s Commitments and/or outstanding Term Loans in a minimum aggregate amount (without
duplication) of at least $2,000,000 on or after the Restatement Effective Date and (y) is (A)
designated by such Lender to the U.S. Borrower and the Administrative Agent by written notice (a
“Voting Participant Notice”) as being entitled to be accorded the rights of a “voting”
participant hereunder, (B) approved by the U.S. Borrower and the Administrative Agent (such
approvals not to be unreasonably withheld or delayed) and (C) not a Disqualified Voting
Participant, such participant shall be entitled to vote with respect to each Tranche in which it
holds a participation from such Lender (and the voting rights of such Lender for each such Tranche
shall be correspondingly reduced), on a Dollar basis, as if such participant were a Lender under
such Tranche on any matter requiring or allowing such Lender to provide or withhold its consent or
to otherwise vote on any proposed action (with any Voting Participant Notice, with respect to any
Voting Participant, to be effective only if same (a) states the full legal name of such Voting
Participant, as well as the relevant contact information and administrative details for such Voting
Participant, and (b) states the Dollar amount of the participation interest in each Tranche
purchased). In the case of any such participation, the participant shall not have any rights under
this Agreement or any of the other Credit Documents (the participant’s rights against such Lender
in respect of such participation to be those set forth in the agreement executed by such Lender in
favor of the participant relating thereto) and all amounts payable by the Borrowers hereunder shall
be determined as if such Lender had not sold such participation; provided that a Voting
Participant shall have the voting rights to which it is entitled as described in the preceding
sentence.

          (b) Notwithstanding the foregoing, any Lender (or any Lender together with one or more other
Lenders) may (x) assign all or a portion of its outstanding Term Loans and/or Credit-Linked
Commitments (and related outstanding Obligations (and Credit-Linked Deposit, if applicable)
hereunder) to (i) its parent company and/or any affiliate of such Lender which is at least 50%
owned by such Lender or its parent company, (ii) one or more Lenders or (iii) in the case of any
Lender that is a fund that invests in bank

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loans, any other fund that invests in bank loans and is
managed by the same investment advisor of a Lender or by an Affiliate of such investment advisor or
(y) assign all, or if less than all, a portion equal to at least (A) $1,000,000 in the
aggregate for the assigning Lender or assigning Lenders, of such outstanding principal amount of
Term Loans hereunder and (B) $1,000,000 in the aggregate for the assigning Lender or assigning
Lenders, of such Credit-Linked Commitments and related Credit-Linked Deposit and Obligations, in
each case, to one or more Eligible Transferees (treating (I) any fund that in
vests in bank loans and (II) any other fund that invests in bank loans and is managed by the
same investment advisor as such fund or by an Affiliate of such investment advisor, as a single
Eligible Transferee), each of which assignees shall become a party to this Agreement as a Lender by
execution of an Assignment and Assumption Agreement, provided that (i) at such time
Schedule I shall be deemed modified to reflect the outstanding Term Loans and/or Credit-Linked
Commitments, as the case may be, of such new Lender and of the existing Lenders, (ii) upon the
request of the respective Lender and upon the surrender of the old Notes (if any), new Notes will
be issued, at the Borrowers’ expense, to such new Lender and to the assigning Lender, such new
Notes to be in conformity with the requirements of Section 1.05 (with appropriate modifications) to
the extent needed to reflect the revised outstanding Term Loans, as the case may be, (iii) except
in the case of assignments by the Agents in connection with their syndication of this Agreement,
the consent of the Administrative Agent and, so long as no Default or Event of Default then exists
and is continuing, the U.S. Borrower shall be required in connection with any such assignment
pursuant to clause (y) of this Section 13.04(b) (which consent shall not be unreasonably withheld
or delayed) and (iv) Administrative Agent shall receive at the time of each such assignment, from
the assigning or assignee Lender, the payment of a non-refundable assignment fee of $3,500 and,
provided, further, that such transfer or assignment will not be effective until
recorded by the Administrative Agent on the Register pursuant to Section 13.17. To the extent of
any assignment pursuant to this Section 13.04(b), the assigning Lender shall be relieved of its
obligations hereunder with respect to its assigned Commitments (and, in the case of an assignment
of Credit-Linked Commitments, will lose its rights with respect to the assigned CL Percentage in
its Credit-Linked Deposit) and/or outstanding Term Loans, as the case may be. At the time of each
assignment pursuant to this Section 13.04(b) to a Person which is not already a Lender hereunder
and which is not a United States person (as such term is defined in Section 7701(a)(30) of the
Code) for Federal income tax purposes, the respective assignee Lender shall, to the extent legally
entitled to do so, provide to the U.S. Borrower and the Administrative Agent the appropriate
Internal Revenue Service Forms (and, if applicable, a Section 4.04(b)(ii) Certificate) described in
Section 4.04(b)(ii) to the extent such forms would provide a complete exemption from or reduction
in United States withholding tax. To the extent that an assignment of all or any portion of a
Lender’s Commitments and related outstanding Obligations pursuant to Section 1.13 or this Section
13.04(b) would, at the time of such assignment, result in increased costs under Section 1.10, 1.11,
2A.06, 2B.06, or 4.04 from those being charged by the respective assigning Lender prior to such
assignment, then the Borrowers shall not be obligated to pay such increased costs (altho
ugh the
Borrowers, in accordance with and pursuant to the other provisions of this Agreement, shall be
obligated to pay any other increased costs of the type described above resulting from changes after
the date of the respective assignment). Notwithstanding anything to the contrary contained above,
at any time after the termination of the Total Credit-Linked Commitment, if any Letters of Credit
or Bank Guaranties remain outstanding, assignments may be made as provided above, except that the
respective assignment shall be of a portion of the respective CL Lender’s participation in Letters
of Credit and Bank Guaranties (and

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the related share of its Credit-Linked Deposit), although any
such assignment effected after the termination of the Total Credit-Linked Commitment shall not
release the assigning CL Lender from its obligations as a participant with respect to outstanding
Letters of Credit or Bank Guaranties (although the respective assignee may agree, as between itself
and the respective assigning CL Lender, that it shall be responsible for such amounts). The
Credit-Linked Deposit funded by any CL Lender shall not be released in connection with any
assignment of its Credit-Linked
Commitment, but shall instead be purchased (to the extent of the CL Percentage so assigned) by
the relevant assignee and continue to be held for application (if not already applied) pursuant to
Section 2 in respect of such assignee’s obligations under the Credit-Linked Commitment assigned to
it.

          (c) Nothing in this Agreement shall prevent or prohibit any Lender from pledging its Loans and
Notes hereunder to a Federal Reserve Bank in support of borrowings made by such Lender from such
Federal Reserve Bank and, without the consent of the Administrative Agent or any Credit Agreement
Party, any Lender which is a fund may pledge all or any portion of its Notes or Loans to its
trustee or to a collateral agent or to another creditor providing credit or credit support to such
Lender in support of its obligations to such trustee, such Collateral Agent or a holder of, or any
other representative of a holder of, such obligations, or such other creditor, as the case may be.
No pledge pursuant to this clause (c) shall release the transferor Lender from any of its
obligations hereunder or substitute (by foreclosure or otherwise) any such pledge or assignee for
such Lender as a party hereto.

          13.05 No Waiver; Remedies Cumulative. No failure or delay on the part of any Agent,
the Collateral Agent or any Lender in exercising any right, power or privilege hereunder or under
any other Credit Document and no course of dealing between any Credit Party and any Agent, the
Collateral Agent or any Lender shall operate as a waiver thereof, nor shall any single or partial
exercise of any right, power or privilege hereunder or under any other Credit Document preclude any
other or further exercise thereof or the exercise of any other right, power or privilege hereunder
or thereunder. The rights and remedies herein expressly provided are cumulative and not exclusive
of any rights or remedies which any Agent, the Collateral Agent or any Lender would otherwise have.
No notice to or demand on any Credit Party in any case shall entitle any Credit Party to any other
or further notice or demand in similar or other circumstances or constitute a waiver of the rights
of any Agent, the Collateral Agent or any Lender to any other or further action in any
circumstances without notice or demand.

          13.06 Payments Pro Rata. (a) The Administrative Agent agrees that promptly after its
receipt of each payment from or on behalf of any Credit Party in respect of any Obligations of such
Credit Party, it shall, except as otherwise provided in this Agreement, distribute such payment to
the Lenders (other than any Lender that has consented in writing to waive its pro
rata share of such payment) pro rata based upon their respective shares, if
any, of the Obligations with respect to which such payment was received.

          (b) Each of the Lenders agrees that, if it should receive any amount hereunder (whether by
voluntary payment, by realization upon security, by the exercise of the right of setoff or banker’s
lien, by counterclaim or cross action, by the enforcement of any right under the Credit Documents,
or otherwise) which is applicable to the payment of the principal of, or interest on, the Loans,
Unpaid Drawings or Fees, of a sum which with respect to the related sum or

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sums received by other
Lenders is in a greater proportion than the total of such Obligation then owed and due to such
Lender bears to the total of such Obligation then owed and due to all of the Lenders immediately
prior to such receipt, then such Lender receiving such excess payment shall purchase for cash
without recourse or warranty from the other Lenders an interest in the Obligations of the
respective Credit Party to such Lenders in such amount as shall result in a proportional
participation by all of the Lenders in such amount; provided that if all or any portion of
such excess amount is thereafter recovered from such Lender, such purchase shall be rescinded
and the purchase price restored to the extent of such recovery, but without interest.

          (c) Notwithstanding anything to the contrary contained herein, the provisions of the preceding
Sections 13.06(a) and (b) shall be subject to the express provisions of this Agreement which
require, or permit, differing payments to be made to Non-Defaulting Lenders as opposed to
Defaulting Lenders.

          13.07 Calculations; Computations. (a) The financial statements to be furnished to
the Lenders pursuant hereto shall be made and prepared in accordance with U.S. GAAP consistently
applied throughout the periods involved (except as set forth in the notes thereto or as otherwise
disclosed in writing by the U.S. Borrower to the Lenders), provided that (i) except as
otherwise specifically provided herein, all computations determining the Excess Cash Flow, the
Senior Secured Leverage Ratio, the Total Leverage Ratio and compliance with Sections 4, 8.15 and 9,
including in each case definitions used therein, shall, in each case, utilize United States
accounting principles and policies in effect at the time of the preparation of, and in conformity
with those used to prepare, the historical consolidated audited financial statements of the U.S.
Borrower delivered to the Lenders pursuant to Section 7.10(b) for Fiscal Year 2004, (ii) to the
extent expressly required pursuant to the provisions of this Agreement, certain calculations shall
be made on a Pro Forma Basis and (iii) for purposes of determining compliance with any incurrence
or expenditure tests set forth in Sections 8 and/or 9, any amounts so incurred or expended (to the
extent incurred or expended in a currency other than Dollars) shall be converted into Dollars on
the basis of the exchange rates (as shown on Reuters ECB page 37 or, if same does not provide such
exchange rates, on such other basis as is reasonably satisfactory to the Administrative Agent) as
in effect on the date of such incurrence or expenditure under any provision of any such Section
that has an aggregate Dollar limitation provided for therein (and to the extent the respective
incurrence or expenditure test regulates the aggregate amount outstanding at any time and it is
expressed in terms of Dollars, all outstanding amounts originally incurred or spent in currencies
other than Dollars shall be converted into Dollars on the basis of the exchange rates (as shown on
Reuters ECB page 37 or, if same does not provide such exchange rates, on such other basis as is
reasonably satisfactory to the Administrative Agent) as in effect on the date of any new incurrence
or expenditures made under any provision of any such Section that regulates the Dollar amount
outstanding at any time).

          (b) All computations of interest and Fees hereunder shall be made on the basis of a year of
360 days for the actual number of days (including the first day but excluding the last day)
occurring in the period for which such interest or Fees are payable.

          13.08 Governing Law; Submission to Jurisdiction; Venue. (a) THIS AGREEMENT AND THE
OTHER CREDIT DOCUMENTS AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER AND THEREUNDER
SHALL, EXCEPT AS OTH-

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ERWISE PROVIDED IN CERTAIN OF THE SUBSIDIARIES GUARANTIES AND SECURITY
DOCUMENTS, BE CONSTRUED IN ACCORDANCE WITH AND BE GOVERNED BY THE LAW OF THE STATE OF NEW YORK.
Any legal action or proceeding with respect to this Agreement or any other Credit 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, in each case located within the City of New York and, by execution and delivery of this
Agreement, each Credit
Agreement Party hereby irrevocably accepts for itself and in respect of its property,
generally and unconditionally, the jurisdiction of the aforesaid courts. Each Credit Agreement
Party hereby irrevocably designates, appoints and empowers Corporation Service Company, with
offices on the Restatement Effective Date at 80 State Street, Albany, NY 12207, as its designee,
appointee and agent to receive, accept and acknowledge for and on its behalf, and in respect of its
property, service of any and all legal process, summons, notices and documents which may be served
in any such action or proceeding. If for any reason such designee, appointee and agent shall cease
to be available to act as such, each Credit Agreement Party agrees to designate a new designee,
appointee and agent in New York City on the terms and for the purposes of this provision reasonably
satisfactory to the Administrative Agent under this Agreement. Each Credit Agreement Party hereby
further irrevocably waives any claim that any such courts lack jurisdiction over such Credit
Agreement Party, and agrees not to plead or claim, in any legal action or proceeding with respect
to this Agreement or any other Credit Document brought in any of the aforesaid courts, that any
such court lacks jurisdiction over such Credit Agreement Party. Each Credit Agreement Party
further irrevocably consents to the service of process in any such action or proceeding by the
mailing of copies thereof by registered or certified mail, postage prepaid, to such Credit
Agreement Party, as the case may be, at its address for notices pursuant to Section 13.03, such
service to become effective 30 days after such mailing. Each Credit Agreement Party hereby
irrevocably waives any objection to such service of process and further irrevocably waives and
agrees not to plead or claim in any action or proceeding commenced hereunder or under any other
Credit Document that service of process was in any way invalid or ineffective. Nothing herein
shall affect the right of any Agent, the Collateral Agent, any Lender or the holder of any Note to
serve process in any other manner permitted by law or to commence legal proceedings or otherwise
proceed against any Credit Agreement Party in any other jurisdiction.

          (b) EACH CREDIT AGREEMENT PARTY HEREBY IRREVOCABLY WAIVES ANY OBJECTION WHICH IT MAY NOW OR
HEREAFTER HAVE TO THE LAYING OF VENUE OF ANY OF THE AFORESAID ACTIONS OR PROCEEDINGS ARISING OUT OF
OR IN CONNECTION WITH THIS AGREEMENT OR ANY OTHER CREDIT DOCUMENT BROUGHT IN THE COURTS REFERRED TO
IN CLAUSE (a) ABOVE AND HEREBY FURTHER IRREVOCABLY WAIVES AND AGREES NOT TO PLEAD OR CLAIM IN ANY
SUCH COURT THAT ANY SUCH ACTION OR PROCEEDING BROUGHT IN ANY SUCH COURT HAS BEEN BROUGHT IN AN
INCONVENIENT FORUM.

          13.09 Counterparts. This Agreement may be executed in any number of counterparts and
by the different parties hereto on separate counterparts, each of which when so executed and
delivered shall be an original, but all of which shall together constitute one and the same
instrument. A complete set of counterparts executed by all the parties hereto shall be lodged with
each Credit Agreement Party and the Administrative Agent.

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          13.10 Effectiveness. This Agreement shall become effective (subject to the
immediately succeeding sentence) on the date (the “Restatement Effective Date”) on which
(i) each Credit Agreement Party, Original Lenders constituting the Original Required Lenders, each
Consenting Tranche C Term Loan Lender, each Lender with a Tranche B Term Loan Commitment, each
Lender with a Tranche C Term Loan Commitment, each Lender with a Credit-Linked Commitment, each
Agent, each Issuing Lender of an Existing Letter of Credit, each Bank Guar
anty Issuer of an Existing Bank Guaranty and the Lead Arranger shall have signed a counterpart
hereof (whether the same or different counterparts) and shall have delivered the same (including by
way of facsimile transmission) to the Administrative Agent and (ii) the other conditions contained
in Sections 5 and 6 are met to the satisfaction of the Administrative Agent and the Required
Lenders. Notwithstanding anything to the contrary contained in the immediately preceding sentence,
any amendments to the Original Credit Agreement effected pursuant to the amendment and restatement
thereof on the Restatement Effective Date pursuant to this Agreement, to the extent requiring the
consent of Original Lenders in excess of that required to meet the definition of Original Required
Lenders, shall instead become effective on the Restatement Effective Date, but immediately after
giving effect thereto (at which time 100% of the Lenders hereunder, after giving effect to the
prepayments required on the Restatement Effective Date, shall provide such consents by their
execution and delivery of copies hereof). Unless the Administrative Agent has received actual
notice from any Lender that the conditions contained in Sections 5 and 6 have not been met to its
satisfaction, upon the satisfaction of the condition described in clause (i) of the immediately
preceding sentence and upon the Administrative Agent’s good faith determination that the conditions
described in clause (ii) of the immediately preceding sentence have been met, then the Restatement
Effective Date shall be deemed to have occurred, regardless of any subsequent determination that
one or more of the conditions thereto had not been met (although the occurrence of the Restatement
Effective Date shall not release any Credit Party from any liability for failure to satisfy one or
more of the applicable conditions contained in Section 5 of the Original Credit Agreement or
Section 6). The Administrative Agent will give each Credit Agreement Party and each Lender prompt
written notice of the occurrence of the Restatement Effective Date.

          13.11 Headings Descriptive. The headings of the several sections and subsections of
this Agreement are inserted for convenience only and shall not in any way affect the meaning or
construction of any provision of this Agreement.

          13.12 Amendment or Waiver; etc. (a) Neither this Agreement nor any other Credit
Document nor any terms hereof or thereof may be changed, waived, discharged or terminated unless
such change, waiver, discharge or termination is in writing signed by the respective Credit Parties
party thereto and the Required Lenders, provided that no such change, waiver, discharge or
termination shall, without the consent of each Lender (other than a Defaulting Lender) (with
Obligations being directly affected thereby in the case of the following clause (i)), (i) extend
the final scheduled maturity of any Loan or Note or extend the stated maturity of any Letter of
Credit or Bank Guaranty beyond the CL Maturity Date or extend the duration of any Interest Period
beyond six months, or reduce the rate or extend the time of payment of interest (other than as a
result of any waiver of the applicability of any post-default increase in interest rates) or Fees
thereon, or reduce the principal amount thereof (except to the extent paid in cash) (it being
understood that any amendment or modification to the financial definitions in this Agreement shall
not constitute a reduction in any rate of interest or fees for purposes of this clause (i),
not-

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withstanding the fact that such amendment or modification actually results in such a reduction),
(ii) release all or substantially all of the Collateral (except as expressly provided in the Credit
Documents) under all the Security Documents, (iii) amend, modify or waive any provision of this
Section 13.12 (except for technical amendments with respect to additional extensions of credit
pursuant to this Agreement which afford the protections to such additional extensions of credit of
the type provided to the Term Loans and Credit-Linked Commitments on the Restate
ment Effective Date), (iv) reduce the percentage specified in the definition of Required
Lenders (it being understood that, with the consent of the Required Lenders, additional extensions
of credit pursuant to this Agreement may be included in the determination of the Required Lenders
on substantially the same basis as the extensions of Term Loans and Credit-Linked Commitments are
included on the Restatement Effective Date), (v) consent to the assignment or transfer by any
Credit Agreement Party of any of its rights and obligations under this Agreement, or (vi) release
any Credit Agreement Party Guaranty or waive compliance by any Credit Agreement Party with its
payment obligations under its Credit Agreement Party Guaranty; provided, further,
that no such change, waiver, discharge or termination shall (p) amend, modify or waive any
condition precedent set forth in Section 6 with respect to the issuance of Letters of Credit or
Bank Guaranties, without the written consent of the Majority Lenders holding Credit-Linked
Commitments, (q) increase the Commitments of any Lender over the amount thereof then in effect
without the consent of such Lender (it being understood that waivers or modifications of conditions
precedent, covenants, Defaults or Events of Default or of a mandatory reduction in the Total
Commitment shall not constitute an increase of the Commitment of any Lender, and that an increase
in the available portion of any Commitment of any Lender shall not constitute an increase in the
Commitment of such Lender), (r) without the consent of each Issuing Lender affected and Bank
Guaranty Issuer thereby, amend, modify or waive any provision of Section 2 or alter its rights or
obligations with respect to Letters of Credit or Bank Guaranties, (s) without the consent of the
Administrative Agent, amend, modify or waive any provision of Section 12 as same applies to the
Administrative Agent or any other provision as same relates to the rights or obligations of the
Administrative Agent, (t) without the consent of each Agent affected thereby, amend, modify or
waive any provision of Section 12 as same applies to such Agent or any other provision as same
relates to the rights or obligations of such Agent, (u) without the consent of the Collateral
Agent, amend, modify or waive any provision relating to the rights or obligations of the Collateral
Agent, (v) except in cases where additional extensions of term loans are being afforded
substantially the same treatment afforded to the Term Loans pursuant to this Agreement as in effect
on the Restatement Effective Date, without the consent of the Majority Lenders of each Tranche
which is being allocated a lesser prepayment, repayment or commitment reduction as a result of the
actions described below, alter the required application of any prepayments or repayments (or
commitment reduction), as between the various Tranches, pursuant to Section 4.01 or 4.02 (excluding
Section 4.02(b)) (although the Required Lenders may waive, in whole or in part, any such
prepayment, repayment or commitment reduction, so long as the application, as amongst the various
Tranches, of any such prepayment, repayment or commitment reduction which is still required to be
made is not altered), (w) without the consent of the Majority
Lenders of the respective Tranche
affected thereby, amend the definition of Majority Lenders (it being understood that, with the
consent of the Required Lenders, additional extensions of credit pursuant to this Agreement may be
included in the determination of the Majority Lenders on substantially the same basis as the
extensions of Loans and Commitments are included on the Restatement Effective Date), (x) except in
cases where additional extensions of credit are being af-

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forded substantially the same treatment
afforded to the Term Loans and Credit-Linked Commitments pursuant to Section 1.14 (as in effect on
the Restatement Effective Date) and except for technical amendments which are consistent with the
intent of the provisions of such Section and do not adversely affect the protections afforded to
the Lenders pursuant to said Section, without the consent of the Majority Lenders of each Tranche
adversely affected thereby, amend, modify or waive any provisions of Section 1.14; (y) without the
consent of the Supermajority Lenders of
the respective affected Tranche, reduce the amount of or extend the date of, any Scheduled
Repayment under such Tranche (except that, if additional Loans are made pursuant to a given
Tranche, the Scheduled Repayments of such Tranche may be increased on a proportionate basis without
the consent otherwise required by this clause (y)), or amend the definition of Supermajority
Lenders (it being understood that, with the consent of the Required Lenders, additional extensions
of credit pursuant to this Agreement may be included in the determination of the Supermajority
Lenders on substantially the same basis as the extensions of Loans and Commitments are included on
the Restatement Effective Date) or (z) without the consent of the Deposit Bank, amend, modify or
waive any provision relating to the rights or obligations of the Deposit Bank. Notwithstanding
anything to the contrary contained above in this Section 13.12(a), the Administrative Agent and/or
the Collateral Agent shall be permitted (x) to enter into such amendments and/or modifications to
the Foreign Subsidiaries Guaranty and the Foreign Security Documents which may be required in the
discretion of the Administrative Agent and/or the Collateral Agent which are of a technical nature
and/or are, in the judgment of the Collateral Agent, required by applicable law, in the interests
of the Secured Creditors or (in the case of Foreign Security Documents) necessary or desirable to
preserve, maintain, perfect and/or protect the security interests purported to the granted by the
respective Foreign Security Documents and (y) to enter into such releases of Collateral pledged
pursuant to Foreign Security Documents as may be reasonably requested by the U.S. Borrower for
legitimate operational reasons (e.g., the transfer of Property from one jurisdiction to
another), so long as the Fair Market Value of all Collateral so subject to release (as determined
in good faith by the U.S. Borrower) at any time does not exceed $5,000,000.

          (b) If, in connection with any proposed change, waiver, discharge or termination of or to any
of the provisions of this Agreement as contemplated by clauses (i) through (v), inclusive, of the
first proviso to Section 13.12(a), the consent of the Required Lenders is obtained but the consent
of one or more of such other Lenders whose consent is required is not obtained, then the U.S.
Borrower shall have the right, so long as all non-consenting Lenders whose individual consent is
required are treated as described in either clause (A) or (B) below, to either (A) replace each
such non-consenting Lender or Lenders (or, at the option of the U.S. Borrower if the respective
Lender’s consent is required with respect to less than all Tranches (or related
Commitments), to replace only the respective Tranche or Tranches of Commitments (and related
Obligations and, if applicable, Credit-Linked Deposits) and/or Loans of the respective
non-consenting Lender which gave rise to the need to obtain such Lender’s individual consent) with
one or more Replacement Lenders pursuant to Section 1.13 so long as at the time of such
replacement, each such Replacement Lender consents to the proposed change, waiver, discharge or
termination or (B) terminate each Credit-Linked Commitment and/or Incremental Term Loan Commitment
of such non-consenting Lender (if such Lender’s consent is required as a result of such
Credit-Linked Commitment and/or Incremental Term Loan Commitment), and/or repay outstanding
Obligations under each Tranche of such Lender which gave rise to the need to obtain such Lender’s
consent, in accordance with Sections 3.02(b) and/or 4.01, provided that, unless the

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Commitments which are terminated and Loans and other Obligations which are repaid pursuant to
preceding clause (B) are immediately replaced in full at such time through the addition of new
Lenders or the increase of the Commitments and/or outstanding Loans and of existing Lenders (who in
each case must specifically consent thereto), then in the case of any action pursuant to preceding
clause (B), the Required Lenders (determined both (x) after giving effect to the proposed action
and (y) as if the Commitments, Loans and related Obligations being terminated
and/or repaid (and not replaced) were not outstanding) shall specifically consent thereto,
provided, further, that the U.S. Borrower shall not have the right to replace a
Lender, terminate its Commitment or repay its Loans or other Obligations solely as a result of the
exercise of such Lender’s rights (and the withholding of any required consent by such Lender)
pursuant to the second proviso to Section 13.12(a).

          (c) Notwithstanding anything to the contrary contained in clause (a) above of this Section
13.12, the respective Borrower, the Administrative Agent and each Incremental Loan Lender may, in
accordance with the provisions of Section 1.15, enter into an Incremental Term Loan Commitment
Agreement, provided that after the execution and delivery by the respective Borrower, the
Administrative Agent and each such Incremental Loan Lender of such Incremental Term Loan Commitment
Agreement, such Incremental Term Loan Commitment Agreement may thereafter only be modified in
accordance with the requirements of clause (a) above of this Section 13.12.

          (d) For purposes of Section 13.12(a), (i) a Voting Participant shall be deemed to be a
“Lender” holding the portion of the Credit-Linked Commitment (and related Obligations),
Incremental Term Loan Commitment and/or outstanding Term Loans of a given Tranche of any Lender
(other than a Defaulting Lender) in which it purchased a participation (and to have the voting
rights of such Lender for the respective such Tranche) and (ii) a Lender (other than a Defaulting
Lender) which has sold a participation in a portion of its Credit-Linked Commitment (and related
Obligations), Incremental Term Loan Commitment and/or outstanding Term Loans of any Tranche to a
Voting Participant shall be deemed to hold a Credit-Linked Commitment (and related Obligations),
Incremental Term Loan Commitment or outstanding Term Loans of the respective Tranche, as the case
may be, in each case, as reduced by the amount of the participations therein sold to a Voting
Participant.

          13.13 Survival. All indemnities set forth herein including, without limitation, in
Sections 1.10, 1.11, 2A.06, 2B.06, 4.04, 12.07, 13.01 and 13.17, shall survive the execution and
delivery of this Agreement, the making of the Loans and the issuance of the Letters of Credit and
Bank Guaranties and repayment in full of the Loans and the other Obligations. With respect to the
Original Lenders and Original Agents, all indemnities set forth in the Original Credit Agreement,
including without limitation, in Sections 1.10, 1.11, 2A.06, 2B.06, 4.04, 12.07, 13.01 and 13.17
thereof shall survive the amendment and restatement of the Original Credit Agreement pursuant to
this Agreement and the repayment of any outstanding Obligations (as defined in the Original Credit
Agreement) thereunder, as fully as if same were set forth herein in their entirety.

          13.14 Domicile of Loans and Commitments. Each Lender may transfer and carry its Loans
and/or Commitments at, to or for the account of any branch office, subsidiary or affiliate of such
Lender. Notwithstanding anything to the contrary contained herein, to the extent that a transfer
of Loans pursuant to this Section 13.14 would, at the time of such transfer, result

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in increased
costs under Section 1.10, 1.11, 2A.06, 2B.06 or 4.04 from those being charged by the respective
Lender prior to such transfer, then the Borrowers shall not be obligated to pay such increased
costs (although the Borrowers shall be obligated to pay any other increased costs of the type
described above resulting from changes after the date of the respective transfer).

          13.15 Confidentiality. (a) Each of the Lenders agrees that it will use its
reasonable efforts not to disclose without the prior consent of any Credit Agreement Party (other
than to its directors, employees, auditors, counsel or other professional advisors, to affiliates
or to another Lender if the Lender or such Lender’s holding or parent company in its sole
discretion determines that any such party should have access to such information) any information
with respect to the U.S. Borrower or any of its Subsidiaries which is now or in the future
furnished pursuant to this Agreement; provided that any Lender may disclose any such
information (a) as has become generally available to the public, (b) as may be required or
appropriate (x) in any report, statement or testimony submitted to any municipal, state or Federal
regulatory body having or claiming to have jurisdiction over such Lender or to the Federal Reserve
Board or the Federal Deposit Insurance Corporation or similar organizations (whether in the United
States or elsewhere) or their successors or (y) in connection with any request or requirement of
any such regulatory body, (c) as may be required or appropriate in response to any summons or
subpoena or in connection with any litigation, (d) to comply with any law, order, regulation or
ruling applicable to such Lender, (e) to the extent reasonably required in connection with the
exercise of any remedies hereunder or any suit, action or proceeding relating to this Agreement or
the enforcement of rights hereunder and (f) to any creditor or any prospective transferee or
participant in connection with any contemplated transfer or participation of any of the Obligations
or any interest therein by such Lender; provided that such creditor or prospective transferee or
participant agrees to be bound by this Section 13.15 to the same extent as such Lender. Each
Credit Agreement Party hereby acknowledges and agrees that each Lender may share with any of its
affiliates or its investment advisors any information related to the U.S. Borrower or any of its
Subsidiaries (including, without limitation, any nonpublic customer information regarding the
creditworthiness of such entities), provided that such Persons shall be subject to the
provisions of this Section 13.15 to the same extent as such Lender and shall only use such
information in connection with matters relating to this Agreement.

          (b) Each Credit Agreement Party hereby represents and acknowledges that, to the best of its
knowledge, neither any Agent nor any Lender, nor any employees or agents of, or other persons
affiliated with, any Agent or any Lender, have directly or indirectly made or provided any
statement (oral or written) to such Credit Agreement Party or to any of its employees or agents, or
other persons affiliated with or related to such Credit Agreement Party (or, so far as such Credit
Agreement Party is aware, to any other person), as to the potential tax consequences of the
Transaction.

          (c) Neither the Agents nor the Lenders provide accounting, tax or legal advice.
Notwithstanding any express or implied claims of exclusivity or proprietary rights, each Credit
Agreement Party, each Agent and each Lender hereby agree and acknowledge that each Credit Agreement
Party, each Agent and each Lender (and each of their employees, representatives or other agents)
are authorized to disclose to any and all persons, beginning immediately upon commencement of their
discussions and without limitation of any kind, the tax treatment and tax structure of the
Transaction, and all materials of any kind (including opinions or other

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tax analyses) that are
provided to any Credit Agreement Party, any Agent or any Lender relating to such tax treatment and
tax structure. In this regard, each Credit Agreement Party, each Agent and each Lender acknowledge
and agree that the disclosure of the tax treatment and tax structure of the Transaction is not
limited in any way by an express or implied understanding or agreement, oral or written (whether or
not such understanding or agreement is legally binding). For
purposes of this authorization, “tax” means United States Federal income tax, “tax treatment”
means the purported or claimed Federal income tax treatment of the transaction, and “tax structure”
means any fact that may be relevant to understanding the purported or claimed Federal income tax
treatment of the transaction. This paragraph is intended to reflect the understanding of each
Credit Agreement Party, each Agent and each Lender that the Transaction is not a “confidential
transaction” as that phrase is used in Treasury Regulation § 1.6011-4(b)(3)(i), and shall be
interpreted in a manner consistent therewith. Nothing herein is intended to imply that any of each
Credit Agreement Party, each Agent and each Lender made or provided a statement, oral or written,
to, or for the benefit of, any of each other as to any potential tax consequences that are related
to, or may result from, the Transaction.

          13.16 Waiver of Jury Trial. EACH OF THE PARTIES TO THIS AGREEMENT HEREBY IRREVOCABLY
WAIVES ALL RIGHT TO A TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM ARISING OUT OF OR
RELATING TO THIS AGREEMENT, THE OTHER CREDIT DOCUMENTS OR THE TRANSACTIONS CONTEMPLATED HEREBY OR
THEREBY.

          13.17 Register. The Borrowers hereby designate the Administrative Agent, and the
Administrative Agent agrees, to serve as the Borrowers’ agent, solely for purposes of this Section
13.17, to maintain a register at one of its offices in New York, New York (the “Register”)
on which it will record the Commitments from time to time of each of the Lenders, the Loans made by
each of the Lenders and each repayment in respect of the principal amount of the Loans of each
Lender. Failure to make any such recordation, or any error in such recordation shall not affect
the Borrowers’ obligations in respect of such Loans. With respect to any Lender, the transfer of
the Commitments of such Lender and the rights to the principal of, and interest on, any Loan made
pursuant to such Commitments shall not be effective until such transfer is recorded on the Register
maintained by the Administrative Agent with respect to ownership of such Commitments and/or Loans
prior to such recordation all amounts owing to the transferor with respect to such Commitments
and/or Loans shall remain owing to the transferor. The registration of an assignment or transfer
of all or part of any Commitments and/or Loans shall be recorded by the Administrative Agent on the
Register only upon the acceptance by the Administrative Agent of a properly executed and delivered
Assignment and Assumption Agreement pursuant to Section 13.04(b). Coincident with the delivery of
such an Assignment and Assumption Agreement to the Administrative Agent for acceptance and
registration of assignment or transfer of all or part of a Commitment and/or Loan, or as soon
thereafter as practicable, the assigning or transferor Lender shall surrender the Note evidencing
such Commitment and/or Loan, and thereupon one or more new Notes in the same aggregate principal
amount shall be issued to the assigning or transferor Lender and/or the new Lender. The
registration of any provision of Incremental Term Loan Commitments pursuant to Section 1.15 shall
be recorded by the Administrative Agent on the Register only upon the acceptance of the
Administrative Agent of a properly executed and delivered Incremental Term Loan Commitment
Agreement. Coincident with the delivery of such Incremental Term Loan Commitment Agreement for
acceptance and registration

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of the provision of an Incremental Term Loan Commitment, or as soon
thereafter as practicable, to the extent requested by such Incremental Term Loan Lenders,
Incremental Term Notes shall be issued, at the respective Borrower’s expense, to such Incremental
Term Loan Lenders, to be in conformity with Section 1.05 (with appropriate modification) to the
extent needed to reflect the Incremental Term Loan Commitments and outstanding Incremental Term
Loans made by
such Incremental Term Loan Lender. The Borrowers agree to indemnify the Administrative Agent
from and against any and all losses, claims, damages and liabilities of whatsoever nature that may
be imposed on, asserted against or incurred by the Administrative Agent in performing its duties
under this Section 13.17.

          13.18 English Language. This Agreement and all other Credit Documents shall be in the
English language, except as required by applicable local law and, with respect to each of the
Security Documents governed by the laws of Italy or otherwise related to Collateral located in
Italy, as the Administrative Agent may reasonably require (in which event certified English
translations thereof shall, upon the request of the Administrative Agent, be provided by the U.S.
Borrower to the Administrative Agent). All documents, certificates, reports or notices to be
delivered or communications to be given or made by any party hereto pursuant to the terms of this
Agreement or any other Credit Document shall be in the English language or, if originally written
in another language, shall, upon request of the Administrative Agent, be accompanied by an accurate
English translation upon which the other parties hereto shall have the right to rely for all
purposes of this Agreement and the other Credit Documents.

          13.19 Special Provisions Regarding Pledges of Equity Interests in, and Promissory Notes
Owed by, Persons Not Organized in Qualified Jurisdictions; Special Provisions Regarding Foreign
Security Documents and Secured Hedge Counterparties. (a) The parties hereto acknowledge and
agree that the provisions of the various Security Documents executed and delivered by the Credit
Parties require that, among other things, all promissory notes executed by, and Equity Interests
in, various Persons owned by the respective Credit Party (to the extent not constituting Excluded
Collateral) be pledged, and delivered for pledge, pursuant to the Security Documents. The parties
hereto further acknowledge and agree that each Credit Party shall be required to take all actions
under the laws of the jurisdiction in which such Credit Party is organized to create and perfect
all security interests granted pursuant to the various Security Documents and to take all actions
under the laws of each Qualified Jurisdiction to perfect the security interests in the Equity
Interests of, and promissory notes issued by, any Person organized under the laws of said
jurisdictions (in each case, to the extent said Equity Interests or promissory notes are owned by
any Credit Party and do not constitute Excluded Collateral). Except as provided in the immediately
preceding sentence, to the extent any Security Document requires or provides for the pledge of
promissory notes issued by, or Equity Interests in, any Person organized under the laws of a
jurisdiction other than those specified in the immediately preceding sentence, it is acknowledged
that, as of the Restatement Effective Date, no actions have been required to be taken to perfect,
under local law of the jurisdiction of the Person who issued the respective promissory notes or
whose Equity Interests are pledged, under the Security Documents. The Credit Agreement Parties
hereby agree that, following any request by the Administrative Agent or Required Lenders to do so,
each Credit Agreement Party shall, and shall cause its Subsidiaries to, take such actions
(including, without limitation, the execution of Additional Security Documents, the making of any
filings and the delivery of appropriate legal opinions) under the local law of any jurisdiction
with respect to which such actions have not already been taken as are determined

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by the
Administrative Agent or Required Lenders to be necessary or desirable in order to fully perfect,
preserve or protect the security interests granted pursuant to the various Security Documents under
the laws of such jurisdictions. If requested to do so pursuant to this Section 13.19(a), all such
actions shall be taken in accordance with the provisions of this Section 13.19(a) and Section 8.11
and within the time periods set forth therein. All conditions and repre
sentations contained in this Agreement and the other Credit Documents shall be deemed modified
to the extent necessary to effect the foregoing and so that same are not violated by reason of the
failure to take actions under local law (but only with respect to Equity Interests in, and
promissory notes issued by, Persons organized under laws of jurisdictions other than Qualified
Jurisdictions) not required to be taken in accordance with the provisions of this Section 13.19(a),
provided that to the extent any representation or warranty would not be true because the foregoing
actions were not taken, the respective representation of warranties shall be required to be true
and correct in all material respects at such time as the respective action is required to be taken
in accordance with the foregoing provisions of this Section 13.19(a) or pursuant to Section 8.11.

          (b) The parties hereto acknowledge and agree that certain Foreign Security Documents executed
and delivered by the Credit Parties on or prior to the Restatement Effective Date secure, inter
alia, obligations of any Lender (or any affiliate of a Lender) which is a counterparty to certain
Interest Rate Protection Agreements and Other Hedging Agreements (as further provided in each such
Foreign Security Document) and that it is the parties intent that each such Foreign Security
Document shall be amended, as provided in Article III of the Foreign Subsidiaries Guaranty
Amendment and Acknowledgement, such that (after giving effect to such amendment) the foregoing
secured counterparties shall be amended to include the Secured Hedge Counterparties.
Notwithstanding the foregoing, the parties hereto further acknowledge and agree that, as of the
Restatement Effective Date, no other amendments, modifications or supplements to the foregoing
Foreign Security Documents under the laws of any jurisdiction to effect the intent in the foregoing
sentence have occurred. The Credit Agreement Parties hereby agree that, within 90 days after the
Restatement Effective Date (or such longer period as may be agreed by the Administrative Agent),
each Credit Agreement Party shall, and shall cause its Subsidiaries to, take such actions
(including, without limitation, amending, modifying or supplementing each such Foreign Security
Document and the delivery of appropriate legal opinions) under the local law of any jurisdiction
with respect to which such actions have not already been taken as are determined by the
Administrative Agent or Required Lenders to be necessary or desirable in order to effect the
foregoing amendments to each such Foreign Security Document. All conditions and representations
contained in this Agreement and the other Credit Documents shall be deemed modified to the extent
necessary to effect the foregoing and so that same are not violated by reason of the failure to
take actions under local law not required to be taken in accordance with the provisions of this
Section 13.19(b), provided that to the extent any representation or warranty would not be
true because the foregoing actions were not taken, the respective representation of warranties
shall be required to be true and correct in all material respects at such time as the respective
action is required to be taken in accordance with the foregoing provisions of this Section 13.19(b)
or pursuant to Section 8.11.

          13.20 Powers of Attorney; etc. The U.S. Borrower is hereby authorized by, and on
behalf of, the Bermuda Borrower to give Notices of Borrowing, Notices of Conversion and other
notices and directions in connection with the extensions of credit and repayments thereof to be
made pursuant to this Agreement to the Bermuda Borrower (including without limitation no-

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tices as to
the application of proceeds of such extensions of credit). The Bermuda Borrower hereby grants to
the U.S. Borrower and the U.S. Borrower an irrevocable power-of attorney, in the Bermuda Borrower’s
name, to take the actions contemplated above in this Section 13.20 and in the last sentence of
Section 1.13 hereof. Furthermore, the Bermuda Borrower agrees that the
Agents and the Lenders may at any time rely upon any notices, instructions or other
information furnished by Holdings or the U.S. Borrower.

          13.21 Waiver of Sovereign Immunity. Each of the Credit Agreement Parties, in respect
of itself, its Subsidiaries, its process agents, and its properties and revenues, hereby
irrevocably agrees that, to the extent that such Credit Agreement Party, its Subsidiaries or any of
its properties has or may hereafter acquire any right of immunity, whether characterized as
sovereign immunity or otherwise, from any legal proceedings, whether in the United States, any
other Qualified Jurisdiction or elsewhere, to enforce or collect upon the Loans or any Credit
Document or any other liability or obligation of such Credit Agreement Party or any of its
Subsidiaries related to or arising from the transactions contemplated by any of the Credit
Documents, including, without limitation, immunity from service of process, immunity from
jurisdiction or judgment of any court or tribunal, immunity from execution of a judgment, and
immunity of any of its property from attachment prior to any entry of judgment, or from attachment
in aid of execution upon a judgment, such Credit Agreement Party, for itself and on behalf of its
Subsidiaries, hereby expressly waives, to the fullest extent permissible under applicable law, any
such immunity, and agrees not to assert any such right or claim in any such proceeding, whether in
the United States, any other Qualified Jurisdiction, or elsewhere. Without limiting the generality
of the foregoing, each Credit Agreement Party further agrees that the waivers set forth in this
Section 13.21 shall have the fullest extent permitted under the Foreign Sovereign Immunities Act of
1976 of the United States and are intended to be irrevocable for purposes of such Act.

          13.22 Judgment Currency. (a) The Credit Parties’ obligations hereunder and under the
other Credit Documents to make payments in Dollars (or, in the case of a Letter of Credit
denominated in an Alternative Currency, the Dollar Equivalent thereof) (the “Obligation
Currency”) shall not be discharged or satisfied by any tender or recovery pursuant to any
judgment expressed in or converted into any currency other than the Obligation Currency, except to
the extent that such tender or recovery results in the effective receipt by any Agent or the
respective Lender of the full amount of the Obligation Currency expressed to be payable to such
Agent or such Lender under this Agreement or the other Credit Documents. If for the purpose of
obtaining or enforcing judgment against any Credit Party in any court or in any jurisdiction, it
becomes necessary to convert into or from any currency other than the Obligation Currency (such
other currency being hereinafter referred to as the “Judgment Currency”) an amount due in
the Obligation Currency, the conversion shall be made at the Dollar Equivalent thereof, and, in the
case of other currencies, the rate of exchange (as quoted by the Administrative Agent or if the
Administrative Agent does not quote a rate of exchange on such currency, by a known dealer in such
currency designated by the Administrative Agent) determined, in each case, as of the day on which
the judgment is given (such day being hereinafter referred to as the “Judgment Currency
Conversion Date”).

          (b) If there is a change in the rate of exchange prevailing between the Judgment Currency
Conversion Date and the date of actual payment of the amount due, the Borrower covenants and agrees
to pay, or cause to be paid, such additional amounts, if any (but in any

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event not a lesser
amount), as may be necessary to ensure that the amount paid in the Judgment Currency, when
converted at the rate of exchange prevailing on the date of payment, will produce the amount of the
Obligation Currency which could have been purchased with the amount
of Judgment Currency stipulated in the judgment or judicial award at the rate or exchange
prevailing on the Judgment Currency Conversion Date.

          (c) For purposes of determining the Dollar Equivalent or any other rate of exchange for this
Section 13.22, such amounts shall include any premium and costs payable in connection with the
purchase of the Obligation Currency.

          13.23 Special Acknowledgments. By their execution and delivery hereof, the Lenders
party hereto hereby acknowledge (i) that the guarantee of each Bermuda Partnership Partner made
pursuant to the U.S. Subsidiaries Guaranty is limited to the Obligations of the U.S. Borrower under
the Credit Documents and the obligations of the U.S. Borrower and its Domestic Subsidiaries under
Interest Rate Protection Agreements and Other Hedging Agreements with Secured Hedge Counterparties,
all on the terms as more specifically provided therein, (ii) the Bermuda Partnership has not
entered into any Credit Documents and, as such, is not a Credit Party (but is otherwise subject to
the provisions of Sections 9.01(b) and (c)) and (iii) the obligations secured pursuant to the
Security Documents are not secured by any Excluded Collateral.

          13.24 Special Provisions Relating to Amendment and Restatement. (a) The Required
Lenders under, and as defined in, the Original Credit Agreement hereby consent to the “refinancing
indebtedness” under this Agreement being treated as “indebtedness pursuant to the Credit Agreement”
for purposes of the U.S. Pledge Agreement and the Intercompany Subordination Agreement. The U.S.
Borrower, for its part, hereby gives notice that the refinancing indebtedness under this Agreement
shall be treated as “issued under the Credit Agreement” for purposes of the U.S. Pledge Agreement
and the Intercompany Subordination Agreement.

          (b) The parties hereto acknowledge and agree that:

     (i) Holdings and its Subsidiaries (as defined in the Original Credit Agreement)
executed and delivered the Security Documents (as defined in the Original Credit Agreement)
in favor of the Collateral Agent on behalf of the Secured Creditors (as defined in the
Original Credit Agreement) to secure the payment and performance of, inter
alia, the Obligations (as defined in the respective such Security Documents);

     (ii) the security interests granted to the Collateral Agent on behalf of the Secured
Creditors pursuant to the Security Documents (as defined in the Original Credit Agreement)
shall remain outstanding and in full force and effect, without interruption or impairment of
any kind, but subject to the provisions of the Intercreditor Agreement, in accordance with
the terms of such Security Documents and shall continue to secure the Obligations (as
defined in such Security Documents);

     (iii) the Obligations represent, among other things, the amendment, restatement,
renewal, extension, consolidation and modification of the Obligations (as defined in the
Original Credit Agreement) arising in connection with the Original Credit Agree-

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ment and
other Credit Documents (as defined in the Original Credit Agreement) executed in connection
therewith; and

     (iv) the provisions of the Original Credit Agreement, to the extent restated, renewed,
extended, consolidated, amended and modified hereby, are hereby superseded and
replaced by the provisions hereof; (b) the Notes restate, renew, extend, consolidate,
amend, modify, replace, are substituted for and supersede, but do not extinguish, the
Obligations (as defined in the Original Credit Agreement) evidenced by the Notes (as defined
in the Original Credit Agreement) issued pursuant to the Original Credit Agreement; and (c)
the execution and delivery of this Agreement, and the performance by Credit Agreement
Parties of their respective obligations hereunder shall not constitute a novation.

          13.25 USA Patriot Act. Each Lender subject to the USA PATRIOT ACT (Title 111 of Pub.
L. 107-56 (signed into law October 26, 2001)) hereby notifies each Credit Agreement Party that
pursuant to the requirements of the Act, it is required to obtain, verify and record information
that identifies the Credit Agreement Parties and the other Credit Parties and other information
that will allow such Lender to identify the Credit Agreement Parties and the other Credit Parties
in accordance with the Act.

          13.26 Other Liens on Collateral; Terms of Intercreditor Agreement; Etc. (a) EACH
LENDER HERETO UNDERSTANDS, ACKNOWLEDGES AND AGREES THAT LIENS SHALL BE CREATED ON THE COLLATERAL
PURSUANT TO THE ABL CREDIT AGREEMENT AND THE ABL CREDIT DOCUMENTS (AS DEFINED THEREIN), WHICH LIENS
(x) TO THE EXTENT CREATED WITH RESPECT TO ABL PRIORITY COLLATERAL, SHALL BE SENIOR TO THE LIENS
CREATED UNDER THIS AGREEMENT AND THE RELATED CREDIT DOCUMENTS (WITH THE LIENS SO CREATED HEREUNDER
AND UNDER THE OTHER CREDIT DOCUMENTS ON ABL PRIORITY COLLATERAL BEING SUBORDINATED TO SUCH LIENS
PURSUANT TO THE TERMS OF THE INTERCREDITOR AGREEMENT) AND (Y) TO THE EXTENT CREATED WITH RESPECT TO
TL PRIORITY COLLATERAL, SHALL BE REQUIRED TO BE SUBJECT TO THE SUBORDINATION PROVISIONS (TO THE
EXTENT APPLICABLE) OF THE INTERCREDITOR AGREEMENT. THE INTERCREDITOR AGREEMENT ALSO HAS OTHER
PROVISIONS WHICH ARE BINDING UPON THE LENDERS AND THE SECURED HEDGE COUNTERPARTIES PURSUANT TO THIS
AGREEMENT. PURSUANT TO THE EXPRESS TERMS OF SECTION 13.26 OF THE INTERCREDITOR AGREEMENT, IN THE
EVENT OF ANY CONFLICT BETWEEN THE TERMS OF THE INTERCREDITOR AGREEMENT AND ANY OF THE CREDIT
DOCUMENTS, THE PROVISIONS OF THE INTERCREDITOR AGREEMENT SHALL GOVERN AND CONTROL.

          (b) EACH LENDER AUTHORIZES AND INSTRUCTS THE COLLATERAL AGENT AND THE ADMINISTRATIVE AGENT TO
ENTER INTO THE INTERCREDITOR AGREEMENT ON BEHALF OF THE LENDER, AND TO TAKE ALL ACTIONS (AND
EXECUTE ALL DOCUMENTS) REQUIRED (OR DEEMED ADVISABLE) BY IT IN ACCORDANCE WITH THE TERMS OF THE
INTERCREDITOR AGREEMENT.

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          (c) THE PROVISIONS OF THIS SECTION 13.26 ARE NOT INTENDED TO SUMMARIZE ALL RELEVANT PROVISIONS
OF THE INTERCREDITOR AGREEMENT, THE FORM OF WHICH IS ATTACHED AS AN EXHIBIT TO THIS AGREEMENT.
REFERENCE MUST BE MADE TO THE INTERCREDITOR AGREEMENT ITSELF TO UNDERSTAND ALL TERMS AND CONDITIONS
THEREOF. EACH LENDER IS RESPONSIBLE FOR MAKING ITS OWN ANALYSIS AND REVIEW OF THE INTERCREDI
TOR AGREEMENT AND THE TERMS AND PROVISIONS THEREOF, AND NO AGENT (AND NONE OF ITS AFFILIATES)
MAKES ANY REPRESENTATION TO ANY LENDER AS TO THE SUFFICIENCY OR ADVISABILITY OF THE PROVISIONS
CONTAINED IN THE INTERCREDITOR AGREEMENT. EACH LENDER IS FURTHER AWARE THAT THE ADMINISTRATIVE
AGENT AND THE COLLATERAL AGENT IS ALSO ACTING IN AN ADMINISTRATIVE AND COLLATERAL AGENCY CAPACITY
UNDER, AND AS DEFINED IN, THE ABL CREDIT AGREEMENT AND THE ABL CREDIT DOCUMENTS (AS DEFINED
THEREIN), AND LENDER HEREBY IRREVOCABLY WAIVES ANY OBJECTION THERETO OR CAUSE OF ACTION ARISING
THEREFROM.

          13.27 Post-Closing Actions. Notwithstanding anything to the contrary contained in
this Agreement or the other Credit Documents, the parties hereto acknowledge and agree that:

     1. Real Property. The actions relating to the Mortgages and Real Property of
Holdings and its Subsidiaries described on Part A of Schedule XVIII shall be completed in
accordance with Part A of said Schedule XVIII.

     2. Actions by Various Foreign Subsidiaries Relating to Security Documents.
Holdings and its Subsidiaries shall be required to take the actions specified in Part B of
Schedule XVIII as promptly as practicable, and in any event within the time periods set
forth in Part B of said Schedule XVIII. The provisions of Part B of said Schedule XVIII
shall be deemed incorporated by reference herein as fully as if set forth herein in its
entirety.

     3. Miscellaneous Actions by Various Subsidiaries of Holdings. Holdings and its
Subsidiaries shall be required to take the actions specified in Part C of Schedule XVIII as
promptly as practicable, and in any event within the time periods set forth in Part C of
said Schedule XVIII. The provisions of Part C of said Schedule XVIII shall be deemed
incorporated by reference herein as fully as if set forth herein in its entirety.

All provisions of this Credit Agreement and the other Credit Documents (including, without
limitation, all conditions precedent, representations, warranties, covenants, events of default and
other agreements herein and therein) shall be deemed modified to the extent necessary to effect the
foregoing (and to permit the taking of the actions described above within the time periods required
above, rather than as otherwise provided in the Credit Documents); provided that (x) to the
extent any representation and warranty would not be true because the foregoing actions were not
taken on the Restatement Effective Date the respective representation and warranty shall be
required to be true and correct in all material respects at the time the respective action is taken
(or was required to be taken) in accordance with the foregoing provisions of this Section 13.27 and
(y) all representations and warranties relating to the Security Documents shall be required to be
true immediately after the actions required to be taken by this Section 13.27 have been taken

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(or
were required to be taken). The acceptance of the benefits of each Credit Event shall constitute a
covenant and agreement by each Credit Agreement Party to each of the Lenders that the actions
required pursuant to this Section 13.27 will be, or have been, taken within the relevant time
periods referred to in this Section 13.27 and that, at such time, all representations and
warranties contained in this Credit Agreement and the other Credit Documents shall then be true and
correct without any modification pursuant to this Section 13.27. The parties hereto acknowledge
and agree that the failure to take any of the actions required above, within the relevant time
periods required above, shall give rise to an immediate Event of Default pursuant to this
Agreement.

          Section 14. Credit Agreement Party Guaranty.

          14.01 The Guaranty. In order to induce the Lenders to enter into this Agreement and
to extend credit hereunder and to induce the Secured Hedge Counterparties to enter into Interest
Rate Protection Agreements or Other Hedging Agreements, and in recognition of the direct benefits
to be received by each Credit Agreement Party from the proceeds of the Loans, the issuance of the
Letters of Credit and Bank Guaranties the entering into of Interest Rate Protection Agreements or
Other Hedging Agreements, each Credit Agreement Party hereby agrees with the Lenders and the
Secured Hedge Counterparties as follows: each Credit Agreement Party hereby unconditionally and
irrevocably guarantees, as primary obligor and not merely as surety the full and prompt payment
when due, whether upon maturity, acceleration or otherwise, of any and all of its Relevant
Guaranteed Obligations to the Guaranteed Creditors. For the avoidance of doubt, the “Relevant
Guaranteed Obligations” of the U.S. Borrower include, without limitation, all Obligations of the
Bermuda Borrower under this Agreement and such Obligations. If any or all of the Relevant
Guaranteed Obligations of any Credit Agreement Party to the Guaranteed Creditors becomes due and
payable hereunder, each Credit Agreement Party unconditionally promises to pay such indebtedness to
the Guaranteed Creditors, or order, on demand, together with any and all expenses which may be
incurred by the Guaranteed Creditors in collecting any of the Relevant Guaranteed Obligations.
This Credit Agreement Party Guaranty is a guaranty of payment and not of collection. This Credit
Agreement Party Guaranty is a continuing one and all liabilities to which it applies or may apply
under the terms hereof shall be conclusively presumed to have been created in reliance hereon. If
claim is ever made upon any Guaranteed Creditor for repayment or recovery of any amount or amounts
received in payment or on account of any of the Relevant Guaranteed Obligations and any of the
aforesaid payees repays all or part of said amount by reason of (i) any judgment, decree or order
of any court or administrative body having jurisdiction over such payee or any of its property or
(ii) any settlement or compromise of any such claim effected by such payee with any such claimant
(including any Relevant Guaranteed Party), then and in such event the respective Credit Agreement
Party agrees that any such judgment, decree, order, settlement or compromise shall be binding upon
such Credit Agreement Party, notwithstanding any revocation of this Credit Agreement Party Guaranty
or any other instrument evidencing any liability of any Relevant Guaranteed Party, and each Credit
Agreement Party shall be and remain liable to the aforesaid payees hereunder for the amount so
repaid or recovered to the same extent as if such amount had never originally been received by any
such payee.

          14.02 Bankruptcy. Additionally, each Credit Agreement Party unconditionally and
irrevocably guarantees the payment of any and all of the Relevant Guaranteed Obligations to

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the
Guaranteed Creditors whether or not due or payable by any Relevant Guaranteed Party upon the
occurrence of any of the events specified in Section 10.05, and unconditionally promises to pay
such indebtedness to the Guaranteed Creditors, or order, on demand.

          14.03 Nature of Liability. The liability of each Credit Agreement Party hereunder is
exclusive and independent of any security for or other guaranty of the Relevant Guaranteed
Obligations whether executed by such Credit Agreement Party, any other guarantor or by
any other party, and the liability of each Credit Agreement Party hereunder is not affected or
impaired by (a) any direction as to application of payment by any Relevant Guaranteed Party or any
other party, or (b) any other continuing or other guaranty, undertaking or maximum liability of a
guarantor or of any other party as to the Relevant Guaranteed Obligations, or (c) any payment on or
in reduction of any such other guaranty or undertaking, or (d) any dissolution, termination or
increase, decrease or change in personnel by any Relevant Guaranteed Party, or (e) any payment made
to the Guaranteed Creditors on the Relevant Guaranteed Obligations which any such Guaranteed
Creditor repays to any Relevant Guaranteed Party pursuant to court order in any bankruptcy,
reorganization, arrangement, moratorium or other debtor relief proceeding, and each Credit
Agreement Party waives any right to the deferral or modification of its obligations hereunder by
reason of any such proceeding, or (f) any action or inaction of the type described in Section
14.05, or (g) the lack of validity or enforceability of any Credit Document or any other instrument
relating thereto.

          14.04 Independent Obligation. No invalidity, irregularity or unenforceability of all
or any part of the Relevant Guaranteed Obligations or of any security therefor shall affect, impair
or be a defense to this Credit Agreement Party Guaranty, and this Credit Agreement Party Guaranty
shall be primary, absolute and unconditional notwithstanding the occurrence of any event or the
existence of any other circumstances which might constitute a legal or equitable discharge of, or a
defense available to, a surety or guarantor except indefeasible payment in full in cash of the
Relevant Guaranteed Obligations. The obligations of each Credit Agreement Party hereunder are
independent of the obligations of any Relevant Guaranteed Party, any other guarantor or any other
party and a separate action or actions may be brought and prosecuted against any Credit Agreement
Party whether or not action is brought against any Relevant Guaranteed Party, any other guarantor
or any other party and whether or not any Relevant Guaranteed Party, any other guarantor or any
other party be joined in any such action or actions. Each Credit Agreement Party waives, to the
full extent permitted by law, the benefit of any statute of limitations affecting its liability
hereunder or the enforcement thereof. Any payment by any Relevant Guaranteed Party or other
circumstance that operates to toll any statute of limitations as to such Relevant Guaranteed Party
shall operate to toll the statute of limitations as to the relevant Credit Agreement Party.

          14.05 Authorization. Each Credit Agreement Party authorizes the Guaranteed Creditors
without notice or demand (except as shall be required by applicable statute and cannot be waived),
and without affecting or impairing its liability hereunder, from time to time to:

     (a) change the manner, place or terms of payment of, and/or change or extend the time
of payment of, renew, increase, accelerate or alter, any of the Relevant Guaranteed
Obligations (including any increase or decrease in the rate of interest thereon), any
security therefor, or any liability incurred directly or indirectly in respect thereof, and
this

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Credit Agreement Party Guaranty shall apply to the Relevant Guaranteed Obligations as
so changed, extended, renewed, increased or altered;

     (b) take and hold security for the payment of the Relevant Guaranteed Obligations and
sell, exchange, release, impair, surrender, realize upon or otherwise deal with in any
manner and in any order any property by whomsoever at any time pledged or mortgaged to
secure, or howsoever securing, the Relevant Guaranteed Obligations or any liabilities
(including any of those hereunder) incurred directly or indirectly in respect
thereof or hereof, and/or any offset thereagainst;

     (c) exercise or refrain from exercising any rights against any Relevant Guaranteed
Party or others or otherwise act or refrain from acting;

     (d) release or substitute any one or more endorsers, guarantors, any Relevant
Guaranteed Party or other obligors;

     (e) settle or compromise any of the Relevant Guaranteed Obligations, any security
therefor or any liability (including any of those hereunder) incurred directly or indirectly
in respect thereof or hereof, and may subordinate the payment of all or any part thereof to
the payment of any liability (whether due or not) of any Relevant Guaranteed Party to their
respective creditors other than the Guaranteed Creditors;

     (f) apply any sums by whomsoever paid or howsoever realized to any liability or
liabilities of any Relevant Guaranteed Party to the Guaranteed Creditors regardless of what
liability or liabilities of such Relevant Guaranteed Party remain unpaid;

     (g) consent to or waive any breach of, or any act, omission or default under, this
Agreement, any other Credit Document, any Interest Rate Protection Agreement or Other
Hedging Agreement or any of the instruments or agreements referred to herein or therein, or
otherwise amend, modify or supplement this Agreement, any other Credit Document, any
Interest Rate Protection Agreement or Other Hedging Agreement or any of such other
instruments or agreements; and/or

     (h) take any other action that would, under otherwise applicable principles of common
law, give rise to a legal or equitable discharge of, or a defense available to, such Credit
Agreement Party from its liabilities under this Credit Agreement Party Guaranty.

          14.06 Reliance. It is not necessary for the Guaranteed Creditors to inquire into the
capacity or powers of any Relevant Guaranteed Party or the officers, directors, partners or agents
acting or purporting to act on their behalf, and any Relevant Guaranteed Obligations made or
created in reliance upon the professed exercise of such powers shall be guaranteed hereunder.

          14.07 Subordination. Any of the indebtedness of any Relevant Guaranteed Party now or
hereafter owing to any Credit Agreement Party is hereby subordinated to the Relevant Guaranteed
Obligations of such Relevant Guaranteed Party owing to the Guaranteed Creditors; and if the
Administrative Agent so requests at a time when an Event of Default exists, all such indebtedness
of such Relevant Guaranteed Party to such Credit Agreement Party shall be collected, enforced and
received by such Credit Agreement Party in trust for the benefit of the

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Guaranteed Creditors and be
paid over to the Administrative Agent on behalf of the Guaranteed Creditors on account of the
Relevant Guaranteed Obligations of such Relevant Guaranteed Party to the Guaranteed Creditors, but
without affecting or impairing in any manner the liability of any Credit Agreement Party under the
other provisions of this Credit Agreement Party Guaranty. Prior to the transfer by any Credit
Agreement Party of any note or negotiable instrument evidencing any of the indebtedness of any
Relevant Guaranteed Party to such Credit Agreement Party, such Credit Agreement Party shall mark
such note or negotiable instrument with a legend
that the same is subject to this subordination. Without limiting the generality of the
foregoing, each Credit Agreement Party hereby agrees with the Guaranteed Creditors that it will not
exercise any right of subrogation which it may at any time otherwise have as a result of this
Credit Agreement Party Guaranty (whether contractual, under Section 509 of the Bankruptcy Code or
otherwise) until all Relevant Guaranteed Obligations have been irrevocably paid in full in cash.

          14.08 Waiver. (a) Each Credit Agreement Party waives any right (except as shall be
required by applicable statute and cannot be waived) to require any Guaranteed Creditor to (i)
proceed against any other Relevant Guaranteed Party, any other guarantor or any other party, (ii)
proceed against or exhaust any security held from any Relevant Guaranteed Party, any other
guarantor or any other party or (iii) pursue any other remedy in any Guaranteed Creditor’s power
whatsoever. Each Credit Agreement Party waives any defense based on or arising out of any defense
of any Relevant Guaranteed Party, any other guarantor or any other party, other than indefeasible
payment in full in cash of the Relevant Guaranteed Obligations, based on or arising out of the
disability of any Relevant Guaranteed Party, any other guarantor or any other party, or the
unenforceability of the Relevant Guaranteed Obligations or any part thereof from any cause, or the
cessation from any cause of the liability of any Relevant Guaranteed Party other than indefeasible
payment in full in cash of the Relevant Guaranteed Obligations. The Guaranteed Creditors may, at
their election, foreclose on any security held by the Administrative Agent, the Collateral Agent or
any other Guaranteed Creditor by one or more judicial or nonjudicial sales, whether or not every
aspect of any such sale is commercially reasonable (to the extent such sale is permitted by
applicable law), or exercise any other right or remedy the Guaranteed Creditors may have against
any Relevant Guaranteed Party or any other party, or any security, without affecting or impairing
in any way the liability of any Credit Agreement Party hereunder except to the extent the Relevant
Guaranteed Obligations have been indefeasibly paid in full in cash. Each Credit Agreement Party
waives any defense arising out of any such election by the Guaranteed Creditors, even though such
election operates to impair or extinguish any right of reimbursement or subrogation or other right
or remedy of such Credit Agreement Party against any Relevant Guaranteed Party or any other party
or any security.

          Each Credit Agreement Party waives all presentments, demands for performance, protests and
notices, including, without limitation, notices of nonperformance, notices of protest, notices of
dishonor, notices of acceptance of this Credit Agreement Party Guaranty, and notices of the
existence, creation or incurring of new or additional Relevant Guaranteed Obligations. Each Credit
Agreement Party assumes all responsibility for being and keeping itself informed of each Relevant
Guaranteed Party’s financial condition and assets, and of all other circumstances bearing upon the
risk of nonpayment of the Relevant Guaranteed Obligations and the nature, scope and extent of the
risks which such Credit Agreement Party assumes and incurs hereunder, and agrees that the
Guaranteed Creditors shall have no duty to advise any Credit Agreement Party of information known
to them regarding such circumstances or risks.

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          (b) Until such time as the Relevant Guaranteed Obligations have been paid in full in cash,
each Credit Agreement Party hereby waives all rights of subrogation which it may at any time
otherwise have as a result of this Credit Agreement Party Guaranty (whether contractual, under
Section 509 of the Bankruptcy Code, or otherwise) to the claims of the Guaranteed Creditors against
any Relevant Guaranteed Party or any other guarantor of the Relevant Guaranteed Obligations and all
contractual, statutory or common law rights of reimbursement, contribution or indemnity from any Relevant Guaranteed Party or any other guarantor which it may at
any time otherwise have as a result of this Credit Agreement Party Guaranty.

          (c) Each U.S. Credit Agreement Party hereby acknowledges and affirms that it understands that
to the extent the Relevant Guaranteed Obligations are secured by Real Property located in
California, such U.S. Credit Agreement Party shall be liable for the full amount of the liability
hereunder notwithstanding the foreclosure on such Real Property by trustee sale or any other reason
impairing such U.S. Credit Agreement Party’s or any Guaranteed Creditor’s right to proceed against
any Relevant Guaranteed Party or any other guarantor of the Relevant Guaranteed Obligations. In
accordance with Section 2856 of the California Code of Civil Procedure, each U.S. Credit Agreement
Party hereby waives:

     (i) all rights of subrogation, reimbursement, indemnification, and contribution and any
other rights and defenses that are or may become available to such U.S. Credit Agreement
Party by reason of Sections 2787 to 2855, inclusive, 2899 and 3433 of the California Code of
Civil Procedure;

     (ii) all rights and defenses that such U.S. Credit Agreement Party may have because the
Relevant Guaranteed Obligations are secured by Real Property located in California, meaning,
among other things, that: (A) the Guaranteed Creditors may collect from such U.S. Credit
Agreement Party without first foreclosing on any real or personal property collateral
pledged by any Credit Party, and (B) if the Guaranteed Creditors foreclose on any Real
Property collateral pledged by any Credit Party, (1) the amount of the Relevant Guaranteed
Obligations may be reduced only by the price for which that collateral is sold at the
foreclosure sale, even if the collateral is worth more than the sale price, and (2) the
Guaranteed Creditors may collect from such U.S. Credit Agreement Party even if the
Guaranteed Creditors, by foreclosing on the Real Property collateral, have destroyed any
right such U.S. Credit Agreement Party may have to collect from any Relevant Guaranteed
Party, it being understood that this is an unconditional and irrevocable waiver of any
rights and defenses such U.S. Credit Agreement Party may have because the Relevant
Guaranteed Obligations are secured by Real Property (including, without limitation, any
rights or defenses based upon Section 580a, 580d or 726 of the California Code of Civil
Procedure); and

     (iii) all rights and defenses arising out of an election of remedies by the Guaranteed
Creditors, even though that election of remedies, such as a nonjudicial foreclosure with
respect to security for the Relevant Guaranteed Obligations, has destroyed such U.S. Credit
Agreement Party’s rights of subrogation and reimbursement against any Relevant Guaranteed
Party by the operation of Section 580d of the California Code of Civil Procedure or
otherwise.

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          (d) Each Credit Agreement Party warrants and agrees that each of the waivers set forth above
is made with full knowledge of its significance and consequences and that if any of such waivers
are determined to be contrary to any applicable law of public policy, such waivers shall be
effective only to the maximum extent permitted by law.

          14.09 Payments. All payments made by a Credit Agreement Party pursuant to this
Section 14 shall be made in the respective Applicable Currency in which the Relevant Guaranteed
Obligations are then due and payable (giving effect, in the circumstances contemplated by Section
1.14, to any conversion occurring pursuant thereto). All payments made by a Credit Agreement Party
pursuant to this Section 14 will be made without setoff, counterclaim or other defense, and shall
be subject to the provisions of Sections 4.03, 4.04 and 13.22.

* * * *

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