Document:

exv10w1

Exhibit 10.1

EXECUTION VERSION

 

SENIOR BRIDGE LOAN AGREEMENT

Dated as of April 21, 2011

among

PLD INTERNATIONAL INCORPORATED,

as Borrower,

Various Lenders

J.P. MORGAN EUROPE LIMITED,

as Administrative Agent

J.P. MORGAN SECURITIES LLC

Sole Lead Arranger and Book Runner

 

Senior Bridge Loan Agreement
 

 

TABLE OF CONTENTS

	 	 	 	 	 
	 	 	Page
	ARTICLE I. DEFINITIONS AND INTERPRETATION
	 	 	1	 
	1.1 Defined Terms
	 	 	1	 
	1.2 Other Interpretive Provisions
	 	 	17	 
	1.3 Accounting Terms
	 	 	17	 
	1.4 Times of Day
	 	 	17	 
	 
	 	 	 	 
	ARTICLE II. COMMITMENTS AND LOANS
	 	 	17	 
	2.1 Term Loans
	 	 	17	 
	2.2 Borrowings and Continuations of Loans
	 	 	17	 
	2.3 Prepayments
	 	 	18	 
	 
	 	 	 	 
	ARTICLE III. GENERAL LOAN PROVISIONS
	 	 	19	 
	3.1 Minimum Amounts for Borrowings, Continuations or Prepayments
	 	 	19	 
	3.2 Termination or Reduction of Commitments
	 	 	20	 
	3.3 Repayment of Loans
	 	 	20	 
	3.4 Interest
	 	 	20	 
	3.5 Fees
	 	 	21	 
	3.6 Computation of Interest and Fees
	 	 	22	 
	3.7 Evidence of Debt
	 	 	22	 
	3.8 Payments Generally; Administrative Agent’s Clawback
	 	 	22	 
	3.9 Sharing of Payments by Lenders
	 	 	24	 
	3.10 Extension of Maturity Date
	 	 	24	 
	 
	 	 	 	 
	ARTICLE IV. TAXES, YIELD PROTECTION AND ILLEGALITY
	 	 	25	 
	4.1 Taxes
	 	 	25	 
	4.2 Illegality
	 	 	28	 
	4.3 Market Disruptions
	 	 	29	 
	4.4 Increased Costs Generally
	 	 	29	 
	4.5 Compensation for Losses
	 	 	31	 
	4.6 Mitigation Obligations; Replacement of Lenders
	 	 	31	 
	4.7 Survival
	 	 	32	 
	 
	 	 	 	 
	ARTICLE V. CONDITIONS PRECEDENT
	 	 	32	 
	5.1 Conditions to Effectiveness
	 	 	32	 
	5.2 Conditions to all Loans
	 	 	34	 
	 
	 	 	 	 
	ARTICLE VI. REPRESENTATIONS AND WARRANTIES
	 	 	35	 
	6.1 Existence, Qualification and Power
	 	 	35	 

Senior Bridge Loan Agreement

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TABLE OF CONTENTS

(continued)

	 	 	 	 	 
	 	 	Page
	6.2 Authorization; No Contravention
	 	 	35	 
	6.3 Governmental Authorization; Other Consents
	 	 	35	 
	6.4 Binding Effect
	 	 	35	 
	6.5 Margin Regulations
	 	 	36	 
	6.6 Investment Company Act
	 	 	36	 
	6.7 Litigation
	 	 	36	 
	6.8 No Default
	 	 	36	 
	6.9 Compliance with Laws
	 	 	36	 
	6.10 Solvency
	 	 	36	 
	 
	 	 	 	 
	ARTICLE VII. AFFIRMATIVE COVENANTS
	 	 	36	 
	7.1 Information
	 	 	36	 
	7.2 Notices
	 	 	37	 
	7.3 Payment of Obligations
	 	 	38	 
	7.4 Preservation of Existence, Etc
	 	 	38	 
	7.5 Compliance with Laws
	 	 	38	 
	7.6 Use of Proceeds
	 	 	39	 
	 
	 	 	 	 
	ARTICLE VIII. NEGATIVE COVENANTS
	 	 	39	 
	8.1 Fundamental Changes
	 	 	39	 
	8.2 Change in Nature of Business
	 	 	39	 
	8.3 Amendment to Tender Offer Documents
	 	 	39	 
	 
	 	 	 	 
	ARTICLE IX. EVENTS OF DEFAULT AND REMEDIES
	 	 	39	 
	9.1 Events of Default
	 	 	39	 
	9.2 Remedies Upon Event of Default
	 	 	41	 
	9.3 Application of Funds
	 	 	41	 
	 
	 	 	 	 
	ARTICLE X. ADMINISTRATIVE AGENT
	 	 	42	 
	10.1 Appointment and Authority
	 	 	42	 
	10.2 Rights as a Lender
	 	 	42	 
	10.3 Exculpatory Provisions
	 	 	42	 
	10.4 Reliance by Administrative Agent
	 	 	43	 
	10.5 Delegation of Duties
	 	 	44	 
	10.6 Resignation of Administrative Agent
	 	 	44	 
	10.7 Non-Reliance on Administrative Agent and Other Lenders
	 	 	44	 
	10.8 No Other Duties, Etc
	 	 	45	 
	10.9 Administrative Agent May File Proofs of Claim
	 	 	45	 

Senior Bridge Loan Agreement
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TABLE OF CONTENTS

(continued)

	 	 	 	 	 
	 	 	Page
	ARTICLE XI. MISCELLANEOUS
	 	 	45	 
	11.1 Amendments, Etc
	 	 	45	 
	11.2 Notices; Effectiveness; Electronic Communication
	 	 	47	 
	11.3 No Waiver; Cumulative Remedies
	 	 	49	 
	11.4 Expenses; Indemnity; Damage Waiver
	 	 	49	 
	11.5 Payments Set Aside
	 	 	51	 
	11.6 Changes to Lenders
	 	 	51	 
	11.7 Treatment of Certain Information; Confidentiality
	 	 	55	 
	11.8 Right of Setoff
	 	 	56	 
	11.9 Interest Rate Limitation
	 	 	56	 
	11.10 Counterparts; Integration; Effectiveness
	 	 	57	 
	11.11 Severability
	 	 	57	 
	11.12 Replacement of Lenders
	 	 	57	 
	11.13 GOVERNING LAW; JURISDICTION; ETC
	 	 	58	 
	11.14 USA Patriot Act Notice
	 	 	59	 
	11.15 Know Your Customers
	 	 	59	 
	11.16 Time of the Essence
	 	 	60	 
	11.17 Judgment Currency
	 	 	60	 
	11.18 Entire Agreement
	 	 	61	 
	11.19 No Fiduciary Duty
	 	 	61	 
	11.20 Survival
	 	 	61	 

Senior Bridge Loan Agreement

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SCHEDULES

	 	 	 	 	 
	 
	 	1.1	 	Pricing Schedule
	 
	 	1.2	 	Mandatory Cost Formulae
	 
	 	2.1	 	Commitments and Percentages
	 
	 	11.2	 	Certain Addresses for Notices
	 
	 	11.6	 	Processing and Recordation Fees

Senior Bridge Loan Agreement
iv

 

EXHIBITS

Form of

A   Loan Notice

B   Parent Guaranty

C   Transfer Certificate

Senior Bridge Loan Agreement
v

 

SENIOR BRIDGE LOAN AGREEMENT

     This SENIOR BRIDGE LOAN AGREEMENT dated as of April 21, 2011 is among PLD INTERNATIONAL
INCORPORATED, a Delaware corporation (“Borrower”), various Lenders (defined below) and
J.P. MORGAN EUROPE LIMITED, as Administrative Agent.

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

ARTICLE I.

DEFINITIONS AND INTERPRETATION

     1.1 Defined Terms. As used in this Agreement, the following terms shall have the meanings set
forth below:

     “Act” has the meaning specified in Section 11.14.

     “Administrative Agent” means J.P. Morgan Europe Limited, in its capacity as
administrative agent under the Loan Documents, or any successor in such capacity.

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

     “Affiliate” means, with respect to any Person, another Person that directly, or
indirectly through one or more intermediaries, Controls or is Controlled by or is under common
Control with the Person specified.

     “Agent Parties” has the meaning specified in Section 11.2.3.

     “Aggregate Commitments” means, at any time, the aggregate amount of the Commitments of
all Lenders at such time. The initial Aggregate Commitments are €500,000,000.

     “Agreement” means this Senior Bridge Loan Agreement.

     “Agreement Currency” has the meaning specified in Section 11.17.

     “Applicable Margin” means a percentage rate per annum determined in accordance with
Schedule 1.1.

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

     “Arranger” means J.P. Morgan Securities LLC, in its capacity as sole lead arranger and
joint book runner under the Loan Documents.

Senior Bridge Loan Agreement
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     “Asset Sale” means, the sale, lease, assignment or other transfer or disposition
(including as a result of a condemnation) of any property for value (each a “Disposition”)
by the Primary Operating Company (so long as the Primary Operating Company is at such time ProLogis
or a parent company of ProLogis) or any of its subsidiaries to any other Person, other than (i)
dispositions of assets in the ordinary course of business, (ii) the granting of non-exclusive
licenses of intellectual property in the ordinary course of business, (iii) the sale or discounting
of delinquent notes or past due or impaired accounts receivable for collection purposes (but not
for factoring, securitization or other financing purposes), (iv) the Disposition of surplus or
obsolete equipment or other assets no longer used or useful in the business, (v) the Disposition of
cash or cash equivalents and (vi) Dispositions made to an Affiliate.

     “Availability Period” means, the period from the Closing Date to the earliest of (i)
the Business Day immediately preceding the Maturity Date, (ii) the date on which the Aggregate
Commitments are reduced to zero, (iii) the date of termination of the Commitment of each Lender
pursuant to Section 9.2 and (iv) the date on which the Public Company owns, directly or
indirectly, 100% of the Units.

     “Borrower” has the meaning specified in the introductory paragraph hereto.

     “Borrower Materials” has the meaning specified in Section 7.1.

     “Borrowing” means a borrowing consisting of simultaneous Loans having the same
Interest Period made by each of the Lenders pursuant to Section 2.1.

     “Business Day” means:

     (a) any day other than (i) a Saturday or Sunday or (ii) a day on which commercial
banks are authorized to close under the Laws of, or are in fact closed in, London; and

     (b) if such day relates to any interest rate setting, any funding, disbursement,
settlement or payment in respect of any Eurocurrency Rate Loan, or any other dealings to be
carried out pursuant to this Agreement in respect of any Eurocurrency Rate Loan, a TARGET
Day.

     “Capital Lease” means a lease or sublease that, in accordance with GAAP, has been or
should be capitalized on the books of the lessee.

     “Change in Law” means the occurrence, after the date of this Agreement, of any of the
following: (a) the adoption or taking effect of any Law, (b) any change in any Law or in the
administration, interpretation or application thereof by any Governmental Authority, or (c) the
making or issuance of any request, guideline or directive (whether or not having the force of law)
by any Governmental Authority; provided that, notwithstanding anything herein to the
contrary, (i) the Dodd-Frank Wall Street Reform and Consumer Protection Act and all requests,
rules, guidelines or directives thereunder or issued in connection therewith and (ii) all requests,
rules, guidelines or directives promulgated by the Bank for International Settlements, the Basel
Committee on Banking Supervision (or any successor or similar authority) or the United States

Senior Bridge Loan Agreement
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regulatory authorities, in each case pursuant to Basel III, shall in each case shall be deemed
to be a “Change in Law,” regardless of the date enacted, adopted, promulgated or issued.

     “Change of Control” means an event or series of events (other than the Proposed Merger
Transaction) by which:

     (a) the Public Company shall cease to own, directly or indirectly, 100% of the equity
interests of (i) Borrower and (ii) after the consummation of the Proposed Merger Transaction,
ProLogis and the Primary Operating Company (if other than ProLogis);

     (b) any “person” or “group” (as such terms are used in Sections 13(d) and 14(d) of the
Securities Exchange Act of 1934, but excluding any employee benefit plan of such person or its
subsidiaries, and any person or entity acting in its capacity as trustee, agent or other fiduciary
or administrator of any such plan) becomes the “beneficial owner” (as defined in Rules 13d-3 and
13d-5 under the Securities Exchange Act of 1934, except that a person or group shall be deemed to
have “beneficial ownership” of all securities that such person or group has the right to acquire
(such right, an “option right”), whether such right is exercisable immediately or only
after the passage of time), directly or indirectly, of twenty-five percent (25%) or more of the
equity securities of the Public Company entitled to vote for members of the board of directors or
equivalent governing body of the Public Company on a fully-diluted basis (and taking into account
all such securities that such person or group has the right to acquire pursuant to any option
right);

     (c) during any period of twelve (12) consecutive months, a majority of the members of the
board of directors or other equivalent governing body of the Public Company cease to be composed of
individuals (i) who were members of that board or equivalent governing body on the first day of
such period, (ii) whose election or nomination to that board or equivalent governing body was
approved by individuals referred to in clause (i) above constituting at the time of such
election or nomination at least a majority of that board or equivalent governing body or (iii)
whose election or nomination to that board or other equivalent governing body was approved by
individuals referred to in clauses (i) and (ii) above constituting at the time of
such election or nomination at least a majority of that board or equivalent governing body
(excluding, in the case of both clause (ii) and clause (iii), any individual whose
initial nomination for, or assumption of office as, a member of that board or equivalent governing
body occurs as a result of an actual or threatened solicitation of proxies or consents for the
election or removal of one or more directors by any person or group other than a solicitation for
the election of one or more directors by or on behalf of the board of directors); or

     (d) any Person or two or more Persons acting in concert shall have acquired by contract or
otherwise the power to exercise, directly or indirectly, a controlling influence over the
management or policies of the Public Company, or control over the equity securities of the Public
Company entitled to vote for members of the board of directors or equivalent governing body of
Public Company on a fully-diluted basis (and taking into account all such securities that such
Person or group has the right to acquire pursuant to any option right) representing twenty-five
percent (25%) or more of the combined voting power of such securities.

Senior Bridge Loan Agreement
3

 

     “Closing Date” means the first date all the conditions precedent in Section
5.1 are satisfied or waived in accordance with Section 11.1.

     “Code” means the Internal Revenue Code of 1986.

     “Commitment” means, as to each Lender, its obligation to make Loans to Borrower
pursuant to Section 2.1 in an aggregate principal amount not to exceed the amount set forth
opposite such Lender’s name on Schedule 2.1 under the caption “Commitment” or opposite such
caption in the Transfer Certificate pursuant to which such Lender becomes a Party, as applicable,
as such amount may be adjusted from time to time in accordance with this Agreement.

     “Compensation Amount” has the meaning specified in Section 4.6.2.

     “Consolidated Subsidiary” means, with respect to any Person (a “Parent”), any
other Person in which such Parent directly or indirectly holds an Equity Interest and which would
be consolidated in the preparation of consolidated financial statements of such Parent in
accordance with GAAP. Any reference herein or in any other Loan Document to a “Consolidated
Subsidiary” shall, unless otherwise specified, be a reference to a Consolidated Subsidiary of
Borrower.

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

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

     “Credit Parties” means, collectively, Administrative Agent and each Lender.

     “Customary Recourse Exceptions” means, with respect to any Non-Recourse Debt,
exclusions from the exculpation provisions with respect to such Non-Recourse Debt for fraud,
misapplication of cash, environmental claims, and other circumstances customarily excluded by
institutional lenders from exculpation provisions and/or included in separate indemnification
agreements in non-recourse financings of real estate.

     “Debtor Relief Laws” means Title 11 of the United States Code and all other applicable
state or federal liquidation, conservatorship, bankruptcy, moratorium, rearrangement, receivership,
insolvency, reorganization, suspension of payments, or similar debtor relief Laws of the United
States or other applicable jurisdictions from time to time in effect and affecting rights of
creditors generally.

     “Default” means any event or condition that constitutes an Event of Default or that,
with the giving of any notice, the passage of time, or both, would be an Event of Default.

Senior Bridge Loan Agreement
4

 

     “Default Rate” means, with respect to any Loan, an interest rate equal to the interest
rate (including any Applicable Margin and any Mandatory Cost, if any) otherwise applicable to such
Loan plus 2% per annum.

     “Defaulting Lender” means any Lender that (a) has failed to fund any portion of the
Loans required to be funded by it hereunder within one Business Day of the date required to be
funded by it hereunder, (b) has otherwise failed to pay over to Administrative Agent or any other
Lender any other amount required to be paid by it hereunder within one Business Day of the date
when due, unless the subject of a good faith dispute, or (c) has been deemed insolvent or become
the subject of a bankruptcy or insolvency proceeding.

     “Discharged Rights and Obligations” has the meaning specified in Section
11.6.5(c).

     “Eligible Assignee” means (a) a Lender, (b) an Affiliate of a Lender, (c) an Approved
Fund, (d) a bank, finance company, insurance company or other financial institution that (A) has
(or, in the case of a bank is a subsidiary of a bank holding company that has) a rating of its
senior debt obligations of not less than BBB+ by S&P or Baa-1 by Moody’s or a comparable rating by
a rating agency acceptable to Borrower and Administrative Agent and (B) has total assets in excess
of $10,000,000,000 or (e) any other Person (other than a natural person) approved by Administrative
Agent, and, unless an Event of Default has occurred and is continuing, Borrower (such approvals not
to be unreasonably withheld or delayed); provided that (i) an “Eligible Assignee” shall not
include Borrower or Borrower’s Affiliates, and (ii) an “Eligible Assignee” shall be able to make
the representations set forth in Section 4.1.6(a).

     “EMU Legislation” means the legislative measures of the European Council for the
introduction of, changeover to or operation of Euro.

     “Environmental Laws” means all Laws relating to pollution and the protection of the
environment or the release of any materials into the environment, including those related to
hazardous substances or wastes, air emissions and discharges to waste or public systems.

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

     “Equity Interests” means, with respect to any Person, all shares of capital stock of
(or other ownership or profit interests in) such Person, all warrants, options or other rights for
the purchase or acquisition from such Person of shares of capital stock of (or other ownership or
profit interests in) such Person, all securities convertible into or exchangeable for shares of
capital stock of (or other ownership or profit interests in) such Person, and all other ownership,
beneficial or profit interests in such Person (including partnership, member or trust interests
therein), whether voting or nonvoting, in each case to the extent then outstanding.

Senior Bridge Loan Agreement
5

 

     “Equity Offering” means any public offering of Equity Interests of the Public Company,
excluding Equity Interests issued or sold pursuant to any dividend reinvestment plan, employee
stock option plan, exercise of stock options or similar arrangement.

     “Euro” and “€” mean the lawful currency of the Participating Member States
introduced in accordance with the EMU Legislation.

     “Eurocurrency Rate” means, for any Interest Period with respect to any Eurocurrency
Rate Loan, the rate appearing on the Reuters “EURIBOR 01” screen displaying the EURIBO Rate (or on
any successor or substitute screen provided by Reuters, or any successor to or substitute for such
service, providing rate quotations comparable to those currently provided on such screen, as
determined by the Administrative Agent in consultation with the Borrower from time to time for
purposes of providing quotations of interest rates applicable to deposits in Euro in the European
interbank market) at approximately 10:00 a.m., Brussels time, on the Quotation Day for such
Interest Period, as the rate for deposits in Euro with a maturity comparable to such Interest
Period. If such rate is not available at such time for any reason, then the “Eurocurrency Rate”
for such Interest Period shall be the rate per annum determined by Administrative Agent to be the
rate at which deposits in Euro for delivery on the first day of such Interest Period in Same Day
Funds in the approximate amount of the Eurocurrency Rate Loan being made or continued by
Administrative Agent and with a term equivalent to such Interest Period would be offered by the
Reference Bank to major banks in the London or other relevant interbank market for such currency at
their request at approximately 10:00 a.m. (Brussels time) on the Quotation Day.

     “Eurocurrency Rate Loan” means any Loan that bears interest at a rate based on the
Eurocurrency Rate.

     “Event of Default” has the meaning specified in Section 9.1.

     “Excluded Debt” means (a) Indebtedness hereunder, (b) Indebtedness arising under the
Global Agreement and any refinancing thereof, (c) Indebtedness of ProLogis or any subsidiary
thereof arising under any other credit facility that exists on the date hereof and any refinancing
thereof (except to the extent that the amount of credit available under any such credit facility is
increased after the date hereof), (d) Indebtedness of AMB Property Corporation or any subsidiary
thereof arising under any credit facility that exists on the date hereof and any refinancing
thereof (except to the extent that the amount of credit available under any such credit facility is
increased upon or after consummation of the Proposed Merger Transaction), (e) Indebtedness incurred
in connection with the Proposed Exchange Transaction, (f) Indebtedness incurred by any foreign
subsidiary if the proceeds thereof cannot be repatriated to the United States without adverse tax
consequences, (g) intercompany Indebtedness, (h) Non-Recourse Debt secured by real property
interests and (i) private equity capital raised in connection with the Public Company’s property
fund business, including any capital raised by the Public Company in connection with the
contribution of assets to a property fund.

     “Excluded Taxes” means, with respect to Administrative Agent, any Lender, or any other
recipient of any payment to be made by or on account of any obligation of any Obligor hereunder or
under any Loan Document, (a) taxes imposed on or measured by its overall net

Senior Bridge Loan Agreement
6

 

income (however denominated), and franchise taxes imposed on it (in lieu of net income taxes),
by the jurisdiction (or any political subdivision thereof) under the Laws of which such recipient
is organized, in which its principal office is located, in which it is otherwise conducting
business and subject to such taxes or, in the case of any Lender, in which its applicable Lending
Office is located, (b) any branch profits taxes imposed by the United States or any similar tax
imposed by any other jurisdiction in which such Obligor is located, and (c) except as provided in
the following sentence, in the case of a Non-U.S. Lender (other than an assignee or transferee
pursuant to a request by Borrower under Section 11.12), any United States federal
withholding tax (including FATCA) that is imposed on amounts payable to such Non-U.S. Lender at the
time such Non-U.S. Lender becomes a Party (or designates a new Lending Office) or is attributable
to such Non-U.S. Lender’s failure or inability (other than as a result of a Change in Law) to
comply with Section 4.1.5, except to the extent that such Non-U.S. Lender (in relation to
any designation of a new Lending Office) or its assignor or transferor (in the case of such
Non-U.S. Lender becoming a Party) was entitled, at the time of designation of a new Lending Office
or assignment or transfer, to receive additional amounts from such Obligor with respect to such
withholding tax. Notwithstanding anything to the contrary contained in this definition, if the
Obligations have been accelerated pursuant to Section 9.2, “Excluded Taxes” shall not
include any withholding tax imposed at any time on payments made to any Lender hereunder or under
any other Loan Documents (regardless of whether such Lender has complied with Section
4.1.5).

     “Exemption Representation” has the meaning specified in Section 4.1.6(a).

     “Existing Lender” has the meaning specified in Section 11.6.1.

     “Facility Fee Rate” means a rate per annum determined in accordance with Schedule
1.1.

     “FATCA” means Sections 1471 through 1474 of the Code, as of the date of this Agreement
and any regulations or official interpretations thereof.

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

     “Fee Letter” means the fee letter dated as of April 17, 2011, entered into among
ProLogis, Administrative Agent and the Arranger in connection with the transactions contemplated
hereby.

     “Fitch” means Fitch IBCA, Duff & Phelps, a division of Fitch, Inc. (or any successor
thereof) or, if Fitch no longer publishes ratings, then another ratings agency selected by the
Public Company and reasonably acceptable to Administrative Agent.

     “Fitch Rating” means the most recently-announced rating from time to time of Fitch
assigned to long-term senior, unsecured non-credit enhanced debt securities issued by ProLogis (or,
after the Proposed Merger Transaction, the Primary Operating Company, so long as the Primary
Operating Company (i) is a parent company of ProLogis and (ii) is a guarantor of the Obligations)
as to which no letter of credit, guaranty or third party credit support is in place, regardless of
whether any such debt has been issued at the time such rating was issued.

Senior Bridge Loan Agreement
7

 

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

     “Funding Date” means the first date on which all conditions in Section 5.2 are
satisfied or waived in accordance with Section 11.1.

     “GAAP” means generally accepted accounting principles in the United States set forth
in the opinions and pronouncements of the Accounting Principles Board and the American Institute of
Certified Public Accountants and statements and pronouncements of the Financial Accounting
Standards Board or such other principles as may be approved by a significant segment of the
accounting profession in the United States, that are applicable to the circumstances as of the date
of determination, consistently applied.

     “Global Agreement” means the Global Senior Credit Agreement dated as of October 6,
2005 among ProLogis, various affiliates thereof, various lenders, various agents and Bank of
America, N.A., as Global Administrative Agent.

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

     “Guarantor” means (a) prior to consummation of the Proposed Merger Transaction,
ProLogis, and (b) after consummation of the Proposed Merger Transaction, each of ProLogis, the
Primary Operating Company (if other than ProLogis) and any parent company of the Primary Operating
Company (regardless of whether the Primary Operating Company is ProLogis) that guarantees any
Indebtedness of the Primary Operating Company.

     “Guaranty” means, as to any Person, (a) any obligation, contingent or otherwise, of
such Person guaranteeing or having the economic effect of guaranteeing any Indebtedness or other
obligation payable or performable by another Person (the “primary obligor”) in any manner, whether
directly or indirectly, and including any obligation of such Person, direct or indirect, (i) to
purchase or pay (or advance or supply funds for the purchase or payment of) such Indebtedness or
other obligation, (ii) to purchase or lease property, securities or services for the purpose of
assuring the obligee in respect of such Indebtedness or other obligation of the payment or
performance of such Indebtedness or other obligation, (iii) to maintain working capital, equity
capital or any other financial statement condition or liquidity or level of income or cash flow of
the primary obligor so as to enable the primary obligor to pay such Indebtedness or other
obligation, or (iv) entered into for the purpose of assuring in any other manner the obligee in
respect of such Indebtedness or other obligation of the payment or performance thereof or to
protect such obligee against loss in respect thereof (in whole or in part), or (b) any Lien on any
asset of such Person securing any Indebtedness or other obligation of any other Person, whether or
not such Indebtedness or other obligation is assumed by such Person (or any right, contingent

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or otherwise, of any holder of such Indebtedness to obtain any such Lien). The amount of any
Guaranty shall be deemed to be an amount equal to the stated or determinable amount of the related
primary obligation, or portion thereof, in respect of which such Guaranty is made or, if not stated
or determinable, the maximum reasonably anticipated liability in respect thereof as determined by
the guaranteeing Person in good faith.

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

     “Indebtedness” means, for any Person, all monetary obligations (without duplication)
of such Person (a) for borrowed money, (b) evidenced by bonds, debentures, notes, or similar
instruments, (c) to pay the deferred purchase price of property or services except (i) trade
payables arising in the ordinary course of business, (ii) deferred tax Liabilities, (iii)
obligations incurred in the ordinary course of business to pay the purchase price of stock so long
as such obligations are paid within customary settlement terms, and (iv) obligations to purchase
stock (other than stock of PEPR or any of its Consolidated Subsidiaries or Affiliates) pursuant to
subscription or stock purchase agreements in the ordinary course of business, (d) secured by a Lien
existing on any property of such Person, whether or not such obligation shall have been assumed by
such Person; provided that the amount of any Indebtedness under this clause (d)
that has not been assumed by such Person shall be equal to the lesser of the stated amount of such
Indebtedness or the fair market value of the property securing such Indebtedness, (e) arising under
Capital Leases to the extent included on a balance sheet of such Person, (f) arising under Swap
Contracts exclusive of interest rate contracts purchased to hedge indebtedness in the ordinary
course of business and net of obligations owed to such Person under Swap Contracts, and (g) arising
under any Guaranty of such Person (other than (i) endorsements in the ordinary course of business
of negotiable instruments or documents for deposit or collection, (ii) indemnification obligations
and purchase price adjustments pursuant to acquisition agreements entered into in the ordinary
course of business, and (iii) any Guaranty of Liabilities of a third party that do not constitute
Indebtedness). The amount of any Indebtedness shall be determined without giving effect to any
mark-to-market increase or decrease resulting from the purchase accounting impact of corporate or
portfolio acquisition or any mark-to-market remeasurement of the amount of any Indebtedness
denominated in any currency other than Euro. Indebtedness shall not include obligations under any
assessment, performance, bid or surety bond or any similar bonding obligation.

     “Indemnified Taxes” means Taxes other than Excluded Taxes.

     “Indemnitee” has the meaning specified in Section 11.4.2.

     “Information” has the meaning specified in Section 11.7.

     “Interest Payment Date” means, as to any Loan, the last day of each Interest Period
applicable to such Loan and the Maturity Date; provided that if any Interest Period exceeds
three

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months, the date that falls three months after the first day of such Interest Period shall
also be an Interest Payment Date.

     “Interest Period” means (a) as to each Eurocurrency Rate Loan, the period commencing
on the date such Eurocurrency Rate Loan is disbursed or continued as a Eurocurrency Rate Loan, as
applicable, and ending on the date 7 or 14 days or one, two, three or six months thereafter, as
selected by Borrower in the applicable Loan Notice (or any such other period as may be agreed to by
Borrower and each Lender), and (b) as to any Substitute Rate Loan, a period agreed upon by the
Borrower and the Administrative Agent (after consultation with the Lenders) or, in the absence of
such agreement, a period of one month or such lesser period as the Administrative Agent deems
customary in the relevant market for loans bearing interest based upon a rate similar to the
Substitute Rate; provided that, in each case:

     (i) any Interest Period that would otherwise end on a day that is not a Business Day
shall be extended to the next succeeding Business Day unless such next succeeding Business
Day falls in another calendar month, in which case such Interest Period shall end on the
next preceding Business Day;

     (ii) any Interest Period that begins on the last Business Day of a calendar month (or
on a day for which there is no numerically corresponding day in the calendar month at the
end of such Interest Period) shall end on the last Business Day of the calendar month at the
end of such Interest Period; and

     (iii) no Interest Period shall extend beyond the Maturity Date.

     “Judgment Currency” has the meaning specified in Section 11.17.

     “Laws” means, collectively, all international, foreign, national, state and local
statutes, treaties, rules, guidelines, regulations, ordinances, codes and administrative or
judicial precedents or authorities, including the interpretation or administration thereof by any
Governmental Authority charged with the enforcement, interpretation or administration thereof, and
all applicable administrative orders, directed duties, requests, licenses, authorizations and
permits of, and agreements with, any Governmental Authority, in each case whether or not having the
force of law.

     “Lender” means each Person listed on Schedule 2.1 as of the date hereof, and
the successors and permitted assigns of any of the foregoing, other than any such Person that
ceases to be a Party pursuant to a Transfer Certificate.

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

     “Liabilities” means (without duplication), for any Person, (a) any obligations
required by GAAP to be classified upon such Person’s balance sheet as liabilities (excluding any
deferred tax liabilities and any mark-to-market increase or decrease in debt from the purchase
accounting impact of corporate or portfolio acquisitions and from the re-measurement of
intercompany

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indebtedness); (b) any liabilities secured (or for which the holder of the liability has an
existing right, contingent or otherwise, to be so secured) by any Lien existing on property owned
or acquired by that Person, whether or not such obligation shall have been assumed by such Person;
provided that the amount of any Liability under this clause (b) that has not been
assumed by such Person shall be equal to the lesser of the stated amount of the liabilities secured
(or entitled to be secured) or the fair market value of the applicable property; and (c) any
Guarantees of such Person of liabilities or obligations of others.

     “Lien” means any mortgage, pledge, hypothecation, assignment, deposit arrangement,
encumbrance, lien (statutory or other), charge, priority or other security interest or preferential
arrangement in the nature of a security interest of any kind or nature whatsoever (including any
conditional sale or other title retention agreement, any easement, right of way or other
encumbrance on title to real property, and any financing lease having substantially the same
economic effect as any of the foregoing, but excluding the interest of a lessor under an operating
lease).

     “Loan” has the meaning specified in Section 2.1.

     “Loan Documents” means this Agreement, each Parent Guaranty and the Fee Letter.

     “Loan Notice” means a notice of (a) a Borrowing or (b) a continuation of Eurocurrency
Rate Loans, pursuant to Section 2.2.1, which shall be substantially in the form of
Exhibit A.

     “Mandatory Cost” means, with respect to any period, the percentage rate per annum
determined in accordance with Schedule 1.2.

     “Material Adverse Effect” means any (a) material impairment of the ability of any
Guarantor to perform any of its payment or other material obligations under the applicable
Guaranty, (b) material and adverse change in the assets, operations or financial condition of any
Guarantor and its Consolidated Subsidiaries, taken as a whole, or (c) material impairment of the
ability of Borrower to perform any of its payment or other material obligations under this
Agreement unless (i) a Guarantor has performed or discharged such obligation (if capable of being
so performed or discharged) or (ii) each Guarantor has a legal obligation to perform and discharge
such obligation and a Guarantor is satisfying such legal obligation accordingly.

     “Maturity Date” means October 21, 2011 or, if the Maturity Date is extended in
accordance with the terms of Section 3.10, April 20, 2012.

     “Maximum Rate” has the meaning specified in Section 11.9.

     “Merger Agreement” means the Agreement and Plan of Merger by and among AMB Property
Corporation, AMB Property, L.P., ProLogis and certain Affiliates thereof, dated as of January 30,
2011.

     “Moody’s” means Moody’s Investors Service, Inc. (or any successor thereof) or, if
Moody’s no longer publishes ratings, another ratings agency selected by the Public Company and
reasonably acceptable to Administrative Agent.

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     “Moody’s Rating” means the most recently-announced rating from time to time of Moody’s
assigned to long-term senior, unsecured non-credit enhanced debt securities issued by ProLogis (or,
after the Proposed Merger Transaction, the Primary Operating Company, so long as the Primary
Operating Company (i) is a parent company of ProLogis and (ii) is a guarantor of the Obligations)
as to which no letter of credit, guaranty or third party credit support is in place, regardless of
whether any such debt has been issued at the time such rating was issued.

     “Net Proceeds” means:

     (a) with respect to any Asset Sale, the aggregate cash proceeds (including cash proceeds
received by way of deferred payment of principal pursuant to a note, installment receivable or
otherwise, but only as and when received in cash) received by the Primary Operating Company or any
subsidiary thereof pursuant to such Asset Sale, net of (i) the direct costs relating to such sale
(including sales commissions and legal, accounting and investment banking fees), (ii) amounts
reserved against any potential liability for any indemnity obligation or purchase price adjustment
associated with such Asset Sale (but only so long as and to the extent that the seller is required
to maintain such reserve), (iii) taxes paid or reasonably estimated by the Primary Operating
Company to be payable by the Primary Operating Company or any affiliate thereof as a result of such
Asset Sale (after taking into account any available related tax credits or deductions and any tax
sharing arrangements) and (iv) amounts required to be applied to the repayment of any debt secured
by a Lien on the asset subject to such Asset Sale; and

     (b) with respect to any sale or issuance of Indebtedness or any Equity Offering, the aggregate
cash proceeds received pursuant to such sale, issuance or offering, net of the direct costs
relating to such sale or issuance (including legal, accounting and investment banking fees).

     “New Agreement” has the meaning specified in Section 7.2.3.

     “New Lender” has the meaning specified in Section 11.6.1.

     “Non-Consenting Lender” means any Lender that, within the preceding 60 days failed to
agree to an amendment, waiver, or consent that was (a) requested by Borrower and (b) approved by
Lenders with aggregate Percentages of more than 60%.

     “Non-Recourse Debt” means, for any Person, any Indebtedness of such Person in which
the holder of such Indebtedness may not look to such Person personally for repayment, other than to
the extent of any security therefor or pursuant to Customary Recourse Exceptions.

     “Non-U.S. Lender” means any Lender that is not a “United States person” within the
meaning of Section 7701(a)(30) of the Code.

     “Obligations” means all advances to, and debts, liabilities, obligations, covenants
and duties of, Borrower arising under any Loan Document or otherwise with respect to any Loan,
whether direct or indirect (including those acquired by assumption), absolute or contingent, due or
to become due, now existing or hereafter arising and including interest and fees that accrue after
the commencement by or against Borrower or any Affiliate thereof of any proceeding under

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any Debtor Relief Law naming such Person as the debtor in such proceeding, regardless of
whether such interest and fees are allowed claims in such proceeding.

     “Obligor” means each of Borrower and each Guarantor, and “Obligor” means any
one of the foregoing.

     “Organization Documents” means: (a) with respect to any corporation, the certificate
or articles of incorporation and the bylaws (or equivalent or comparable constitutive documents
with respect to any non-U.S. jurisdiction); (b) with respect to any limited liability company, the
certificate or articles of formation or organization and operating agreement; and (c) with respect
to any partnership, joint venture, trust or other form of business entity, the partnership, joint
venture or other applicable agreement of formation or organization and any agreement, instrument,
filing or notice with respect thereto filed in connection with its formation or organization with
the applicable Governmental Authority in the jurisdiction of its formation or organization and, if
applicable, any certificate or articles of formation or organization of such entity.

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

     “Overnight Rate” means, for any day, the greater of (a) the rate of interest per annum
at which overnight deposits in Euro, in an amount approximately equal to the amount with respect to
which such rate is being determined, would be offered for such day by a branch or Affiliate of
Administrative Agent in the applicable interbank market for such currency to major banks in such
interbank market and (b) a rate determined by Administrative Agent in accordance with banking
industry rules on interbank compensation.

     “Parent Guaranty” means (a) a Guaranty substantially in the form of Exhibit B
issued by ProLogis in favor of Administrative Agent for the benefit of the Credit Parties and (b)
after consummation of the Proposed Merger Transaction, a Guaranty substantially in the form of
Exhibit B (with appropriate adjustments to account for the identity of the obligor or
obligors thereunder and any change to the Syndicated Agreement) issued by the Persons specified in
clause (b) of the definition of “Guarantor.”

     “Participant” has the meaning specified in Section 11.6.10.

     “Participating Member State” means each state so described in any EMU Legislation.

     “Party” means a Person that is a party to this Agreement.

     “PEPR” means ProLogis European Properties, a Luxembourg fonds commun de placement.

     “Percentage” means, with respect to any Lender at any time, the percentage (carried
out to the ninth decimal place) that (a) the sum of such Lender’s unused Commitment plus the

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principal amount of such Lender’s outstanding Loans is at such time of (b) the sum of the
aggregate amount of all Commitments plus the amount of all outstanding Loans, in each case of all
Lenders at such time.

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

     “Platform” has the meaning specified in Section 7.1.

     “Primary Operating Company” means (i) prior to consummation of the Proposed Merger
Transaction, ProLogis, and (ii) upon and after consummation of the Proposed Merger Transaction, the
Affiliate of ProLogis that constitutes the top-tier operating company (which, if not ProLogis,
shall be a person of which ProLogis is, directly or indirectly, a wholly owned Consolidated
Subsidiary).

     “ProLogis” means ProLogis, a Maryland real estate investment trust.

     “Proposed Exchange Transaction” means the transaction or series of transactions
pursuant to which the holders of various public notes of ProLogis will be offered the right to
exchange such notes for notes of an equal principal amount issued by the Primary Operating Company
concurrently with or after the Proposed Merger Transaction.

     “Proposed Merger Transaction” means, collectively, the series of transactions
contemplated by the Merger Agreement.

     “Public Company” means (a) prior to consummation of the Proposed Merger Transaction,
ProLogis, and (b) after consummation of the Proposed Merger Transaction, the public company
resulting from the Proposed Merger Transaction.

     “Public Lender” has the meaning specified in Section 7.1.

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

     “Rating Agency” means each of Moody’s, S&P and Fitch.

     “Reference Bank” means the principal London office of J.P. Morgan Europe Limited or
any successors thereto selected by Administrative Agent (in consultation with Borrower).

     “Register” has the meaning specified in Section 11.6.9.

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

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     “Required Lenders” means, as of any date of determination, Lenders with aggregate
Percentages greater than 50%; provided that any Defaulting Lender shall be excluded for
purposes of making a determination of Required Lenders.

     “Responsible Officer” means, with respect to any Person, the chief executive officer,
the president, the chief financial officer, a representative director, the treasurer, an assistant
treasurer or a manager of such Person. Any document delivered hereunder that is signed by a
Responsible Officer of a Person shall be conclusively presumed to have been authorized by all
necessary corporate, partnership and/or other action on the part of such Person, and such
Responsible Officer shall be conclusively presumed to have acted on behalf of such Person.

     “S&P” means Standard & Poor’s Ratings Services, a division of The McGraw-Hill
Companies, Inc. (or any successor thereof), or, if S&P no longer publishes ratings, then another
ratings agency selected by the Public Company and reasonably acceptable to Administrative Agent.

     “S&P Rating” means the most recently-announced rating from time to time of S&P
assigned to long-term senior, unsecured non-credit enhanced debt securities issued by ProLogis (or,
after the Proposed Merger Transaction, the Primary Operating Company, so long as the Primary
Operating Company (i) is a parent company of ProLogis and (ii) is a guarantor of the Obligations)
as to which no letter of credit, guaranty or third party credit support is in place, regardless of
whether any such debt has been issued at the time such rating was issued.

     “Same Day Funds” means same day or other funds as may be determined by Administrative
Agent to be customary in the place of disbursement or payment for the settlement of international
banking transactions in the relevant currency.

     “Solvent” means, as to a Person, that (a) the aggregate fair market value of its
assets exceeds its Liabilities, (b) it has sufficient cash flow to enable it to pay its Liabilities
as they mature, and (c) it does not have unreasonably small capital to conduct its businesses.

     “Specified Event of Default” means an Event of Default occurring pursuant to
Section 9.1.1 (other than as a result of a failure to pay any obligation accelerated as the
result of any Event of Default that is not a Specified Event of Default), Section 9.1.2 (as
a result of a violation of the covenant set forth in Section 8.3) or Section 9.1.5.

     “Substitute Rate” means (a) the Applicable Margin, plus (b) (in the case of
any Lender that has lent from a Lending Office in the United Kingdom or a Participating Member
State) the Mandatory Cost, plus (c) (i) to the extent requested by Administrative Agent or
Borrower, a negotiated rate agreed to by Borrower, Administrative Agent and each Lender or (ii) to
the extent that a negotiated rate is not requested or agreed to by the applicable Parties, the rate
per annum determined by Administrative Agent to be the highest (rounded upwards to four decimal
places) of the percentage rates per annum rates notified by the Reference Banks to Administrative
Agent before the last day of the applicable Interest Period as the cost to each such Reference Bank
of funding its Loans from whatever sources it may reasonably select during such Interest Period.

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     “Substitute Rate Loan” means a Loan that bears interest at a rate based on the
Substitute Rate.

     “Syndicated Agreement” means the Global Agreement; provided that if the Global
Agreement is terminated or refinanced, “Syndicated Agreement” shall mean at any time thereafter the
largest syndicated revolving credit facility (determined by reference to the amount of credit
available thereunder) of the Primary Operating Company or any of its Affiliates; and
provided, further, that if the Global Agreement has terminated and neither the
Primary Operating Company nor any of its Affiliates has a syndicated revolving credit facility with
commitments of US$1,000,000,000 or more, then “Syndicated Agreement” shall mean the most recent
Syndicated Agreement as in effect immediately prior to the termination thereof.

     “TARGET Day” means any day on which the Trans-European Automated Real-time Gross
Settlement Express Transfer (TARGET) payment system (or, if such payment system ceases to be
operative, such other payment system, if any, determined by Administrative Agent to be a suitable
replacement) is open for the settlement of payments in Euro.

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

     “Tender Offer” means the offer by PLD International LLC pursuant to the Tender Offer
Documents to purchase all of the outstanding ordinary and preferred Units that are not at such time
owned by PLD International LLC and its Affiliates.

     “Tender Offer Documents” means the Tender Offer Document for a Public Take-over Bid in
respect of all Ordinary Units and Preferred Units held by the public in ProLogis European
Properties by PLD International LLC dated on or about April 21, 2011.

     “Total Outstandings” means, on any date, the principal amount of all outstanding Loans
on such date.

     “Transfer Certificate” means a transfer certificate entered into by a Lender and an
Eligible Assignee (with the consent of any party whose consent is required by Section
11.6.2), and accepted by Administrative Agent, in substantially the form of Exhibit C
or any other form approved by Administrative Agent.

     “United Kingdom” means the United Kingdom of Great Britain and Northern Ireland.

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

     “Units” means the units issued from time to time by PEPR and “Unit” means any
one of the Units.

     “US$” means lawful currency of the United States of America. References to US$
include the equivalent amount in any other currency.

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16

 

     1.2 Other Interpretive Provisions. Unless the context otherwise requires,(i) the definitions
of terms shall apply equally to the singular and plural forms of the terms defined; (ii) any
pronoun shall include the corresponding masculine, feminine and neuter forms; (iii) the words
“include,” “includes” and “including” shall be deemed to be followed by the
phrase “without limitation”; (iv) the word “will” shall be construed to have the same
meaning as the word “shall”; (v) any definition of or reference to any agreement,
instrument or other document (including this Agreement) shall be construed to refer to such
agreement, instrument or other document as from time to time amended, restated, supplemented, or
otherwise modified (subject to any restrictions on such amendments, supplements or modifications
set forth herein or in any other Loan Document); (vi) any reference to any Person shall be
construed to include such Person’s successors and assigns; (vii) all references to Articles,
Sections, Exhibits and Schedules shall be construed to refer to Articles and Sections hereof, and
Exhibits and Schedules hereto; (viii) any reference to any law or regulation shall include all
statutory and regulatory provisions consolidating, amending, supplementing, replacing or
interpreting such law from time to time; (ix) in the computation of periods of time from a
specified date to a later specified date, the word “from” means “from and
including”; the words “to” and “until” each mean “to but excluding”;
and the word “through” means “to and including”; and (x) Section headings herein
are included for convenience of reference only and shall not affect the interpretation of this
Agreement.

     1.3 Accounting Terms. All accounting terms not specifically or completely defined herein
shall be construed in conformity with, and all financial data required to be submitted pursuant to
this Agreement shall be prepared in conformity with, GAAP as in effect from time to time, except as
otherwise specifically prescribed herein.

     1.4 Times of Day. Unless otherwise specified, all references herein to times of day shall be
references to London time.

ARTICLE II.

COMMITMENTS AND LOANS

     2.1 Term Loans. Subject to the terms and conditions set forth herein, each Lender severally
agrees to make one or more loans (each such loan, a “Loan”) to Borrower in Euro, from time
to time, on any Business Day during the Availability Period, in an aggregate amount not to exceed
the amount of such Lender’s Commitment; provided that (i) the aggregate principal amount of
Loans made hereunder shall not exceed the Aggregate Commitments and (ii) the aggregate principal
amount of all Loans made by any Lender hereunder shall not exceed such Lender’s Commitment.
Amounts borrowed under this Section 2.1 that are repaid or prepaid may not be reborrowed.
Loans may be Eurocurrency Rate Loans or, solely upon the occurrence of an event described in
Section 4.2 or 4.3, Substitute Rate Loans, as further provided herein.

     2.2 Borrowings and Continuations of Loans.

          2.2.1 Procedures for Borrowings and Continuations. Each Borrowing and each
continuation of Loans shall be made upon Borrower’s irrevocable notice to Administrative Agent,
which shall be given by a written Loan Notice appropriately completed and signed by a Responsible
Officer. Each such notice must be received by Administrative Agent (i) in the case

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of a Borrowing of Loans, not later than 11:00 a.m. on the requested date of such Borrowing or
(ii) in the case of a continuation of Loans, not later than 11:00 a.m. on the date that is three
Business Days prior to the last day of the current Interest Period with respect to the applicable
Borrowing. Each Borrowing or continuation of Loans shall be in a principal amount permitted by
Section 3.1. Each Loan Notice shall specify (a) whether Borrower is requesting a Borrowing
or a continuation of Eurocurrency Rate Loans, (b) the requested date of the Borrowing or
continuation, as the case may be (which shall be a Business Day), (c) the principal amount of Loans
to be borrowed or continued and (d) the duration of the Interest Period with respect thereto. If
(a) Borrower requests a Borrowing or continuation of Eurocurrency Rate Loans in any Loan Notice,
but fails to specify an Interest Period or (b) Borrower fails to give a timely notice requesting a
continuation, then Borrower shall be deemed to have requested that the applicable Loans be made or
continued as Eurocurrency Rate Loans with an Interest Period of one month (or if the Maturity Date
is to occur within less than one month, the longest Interest Period permitted hereunder that will
end on or before the Maturity Date).

          2.2.2 Funding of Loans. Following receipt of a Loan Notice, Administrative Agent
shall promptly notify each Lender of the amount of its Percentage of the Loans, and if no timely
notice of a continuation is provided by Borrower, Administrative Agent shall notify each Lender of
the details of any automatic continuation of Loans, in each case as described in Section
2.2.1. In the case of a Borrowing, each Lender shall make the amount of its Loan available to
Administrative Agent in Same Day Funds not later than 1:00 p.m. on the Business Day specified in
the applicable Loan Notice. Upon satisfaction of the applicable conditions set forth in
Article V, Administrative Agent shall make all funds so received available to Borrower in
like funds as received by Administrative Agent either by (a) crediting the account of Borrower on
the books of Administrative Agent with the amount of such funds or (b) wire transfer of such funds,
in each case in accordance with instructions provided to (and reasonably acceptable to)
Administrative Agent by Borrower.

          2.2.3 Certain Continuations. Except as otherwise provided herein, a Eurocurrency Rate
Loan may be continued only on the last day of an Interest Period for such Eurocurrency Rate Loan.
During the existence of a Default, Required Lenders may, at their option, by notice to Borrower
through Administrative Agent (which notice may be revoked at the option of Required Lenders
notwithstanding any provision of Section 11.1) declare that no Loans may be requested or
continued as Eurocurrency Rate Loans, other than as Eurocurrency Rate Loans with an Interest Period
of not longer than one month.

          2.2.4 Notice of Rates. Administrative Agent shall promptly notify Borrower and
Lenders of the interest rate applicable to any Interest Period for Eurocurrency Rate Loans and
Substitute Rate Loans upon determination of such interest rate.

          2.2.5 Number of Interest Periods. After giving effect to all Borrowings and all
continuations of Loans, there shall not be more than six Interest Periods in effect.

     2.3 Prepayments.

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          2.3.1 Voluntary Prepayments of Loans. Borrower may, upon notice to Administrative
Agent, at any time or from time to time voluntarily prepay Loans in whole or in part without
premium or penalty (but subject to the provisions of Section 4.5); provided that (a) such
notice must be received by Administrative Agent, not later than 11:00 a.m. on the date of
prepayment of Loans or; and (b) any prepayment of Loans pursuant to this Section 2.3.1
shall be in a principal amount permitted by Section 3.1 or the entire principal amount
thereof then outstanding.

          2.3.2 Mandatory Prepayment of Loans.

          (a) Within five Business Days after the completion of any Asset Sale, Borrower shall
make a mandatory prepayment of the Loans in an amount (rounded down, if necessary, to an
integral multiple of €100,000) equal to the excess, if any, of (i) the aggregate amount of
the Net Proceeds of all Asset Sales (including such Asset Sale) occurring on or after the
date of this Agreement over (ii) the total of (A) all mandatory prepayments previously made
with the Net Proceeds of Asset Sales, (B) US$150,000,000 and (C) any reduction of the
Aggregate Commitments pursuant to Section 3.2 resulting from prior Asset Sales.

          (b) Concurrently with the receipt by the Public Company or any of its subsidiaries of
the proceeds of the sale or issuance of any Indebtedness (other than Excluded Debt) or any
Equity Offering, Borrower shall make a mandatory prepayment of the Loans in an amount
(rounded down, if necessary, to an integral multiple of €100,000) equal to the Net Proceeds
of such sale, issuance or offering.

          (c) Borrower shall provide written notice to Administrative Agent of any mandatory
prepayment of Loans not later than 11:00 a.m. one Business Day prior to the date of such
prepayment.

          2.3.3 Prepayments of Loans Generally. Each such notice of prepayment pursuant to
Section 2.3.1 or 2.3.2 shall specify the date and amount of such prepayment and the
Loans to be prepaid. Administrative Agent will promptly notify each Lender of its receipt of each
such notice and of the amount of such Lender’s ratable portion of such prepayment. If any such
notice is given by Borrower, then Borrower shall make such prepayment and the payment amount
specified in such notice shall be due and payable on the date specified therein. Any prepayment of
Loans pursuant to Section 2.3.1 or 2.3.2 shall be accompanied by all accrued
interest on the amount prepaid, together with any additional amount required pursuant to
Section 4.5. Each such prepayment shall be applied to the Loans of the Lenders in
accordance with their respective Percentages.

ARTICLE III.

GENERAL LOAN PROVISIONS

     3.1 Minimum Amounts for Borrowings, Continuations or Prepayments. Any Borrowing, continuation
or prepayment of Loans (other than any mandatory prepayment

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pursuant to Section 2.3.2) shall be in a principal amount of €500,000 or a higher
integral multiple of €100,000.

     3.2 Termination or Reduction of Commitments.

          3.2.1 Expiration of Commitments. Any unused portion of the Commitments shall expire
on the last day of the Availability Period.

          3.2.2 Mandatory Reductions Resulting from Drawings. Concurrently with the making of
any Loans, the Aggregate Commitments shall automatically reduce by the aggregate principal amount
of such Loans.

          3.2.3 Mandatory Reductions Upon Certain Events. If at any time (including immediately
after giving effect to any prepayment pursuant to Section 2.3.2) that there are no loans
outstanding and there are unused Commitments, the Borrower would be required to make a prepayment
of Loans pursuant to Section 2.3.2 if Loans were outstanding, the Aggregate Commitments
shall be reduced by an amount equal to the amount that would otherwise be required to be applied to
prepay Loans pursuant to Section 2.3.2.

          3.2.4 Voluntary Termination or Reduction. Borrower may, upon notice to Administrative
Agent (which shall promptly notify each Lender), terminate, or from time to time permanently
reduce, the Aggregate Commitments; provided that:

     (i) any such notice shall be received by Administrative Agent not later than
11:00 a.m. on the date of termination or reduction; and

     (ii) any partial reduction shall be in an aggregate amount of €5,000,000 or a
higher integral multiple of €1,000,000 (or, if less, the unused amount of the
Aggregate Commitments).

Any reduction of the Commitments shall be applied to the Commitment of each Lender according to its
Percentage.

     3.3 Repayment of Loans. The aggregate principal amount of all outstanding Loans shall be
repaid in full on the Maturity Date.

     3.4 Interest.

          3.4.1 Interest Rates. Subject to the provisions of Sections 3.4.2 and
11.9, each Loan shall bear interest on the outstanding principal amount thereof for each
Interest Period therefor at a rate per annum equal to the Eurocurrency Rate (or, in the case of any
Substitute Rate Loan, the Substitute Rate) for such Interest Period plus the Applicable
Margin plus (in the case of a Eurocurrency Rate Loan of any Lender that is lent from a
Lending Office in the United Kingdom or a Participating Member State) the Mandatory Cost.

          3.4.2 Rates upon Default. If any amount payable by Borrower under any Loan Document
is not paid when due (without regard to any applicable grace period), whether at

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stated maturity, by acceleration or otherwise, such amount shall thereafter bear interest at a
fluctuating interest rate per annum at all times equal to the Default Rate to the fullest extent
permitted by applicable Laws.

          3.4.3 Interest Payment Dates. Interest on each Loan shall be due and payable in
arrears on each Interest Payment Date applicable thereto and at such other times as may be
specified herein; provided that accrued and unpaid interest on past due amounts (including
interest on past due interest to the extent permitted by applicable Laws) shall be due and payable
upon demand. Interest hereunder shall be due and payable in accordance with the terms hereof
before and after judgment, and before and after the commencement of any proceeding under any Debtor
Relief Law.

     3.5 Fees.

          3.5.1 Upfront Fees Borrower shall pay upfront fees to Administrative Agent for the
account of each Lender in accordance with its Percentage as follows: (a) Administrative Agent
acknowledges that it has received from or on behalf of Borrower the initial installment of the
upfront fees, which was equal to 0.25% of the initial amount of the Aggregate Commitments; and
(ii) Borrower shall pay a second installment of the upfront fees, which shall be in an amount equal
to 0.25% of the aggregate principal amount of all Loans made hereunder, on the last day of the
Availability Period; provided that if all Commitments have been terminated, and all Loans
have been repaid in full, (x) on or prior to June 30, 2011, each Lender will refund to the Borrower
50% of the installment of the upfront fee paid to such Lender pursuant to clause (ii) of
this Section 3.5.1 and (y) after June 30, 2011, but on or prior to July 31, 2011, each
Lender will refund to the Borrower 33.33% of the installment of the upfront fee paid to such Lender
pursuant to clause (ii) of this Section 3.5.1. The amount of any refund due
pursuant to the immediately preceding sentence shall be paid by the Lenders to the Administrative
Agent, for the account of the Borrower, not later than one Business Day after the date on which the
Commitments have been terminated and all Loans have been repaid in full. In the event that any
Lender fails to pay to the Administrative Agent the amount of any refund in accordance with the
immediately preceding sentence, the Administrative Agent shall be permitted to set off, for the
account of the Borrower, from any amounts owing to such Lender an amount equal to the amount of
such refund payable by such Lender until the amount of such refund payable by such Lender has been
paid in full.

          3.5.2 Facility Fee. Borrower shall pay to Administrative Agent, for the account of
each Lender in accordance with its Percentage, a facility fee in Euro computed for each day at the
Facility Fee Rate on the sum of (i) the Total Outstandings as of such date and (ii) the unused
amount of the Aggregate Commitments as of such date. Such fee shall accrue from the Closing Date
until the date, following the termination of the Availability Period, on which the Loans shall have
been paid in full. Such fee shall be due and payable in arrears on the last Business Day of each
calendar quarter and on the date on which all Commitments have expired or terminated and all Loans
have been paid in full. Notwithstanding the foregoing or any other provision of this Agreement,
Borrower shall not be required to pay a facility fee to any Lender for any day on which such Lender
is a Defaulting Lender.

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          3.5.3 Arranger and Administration Agent Fees. Borrower shall pay to Arranger and
Administrative Agent, for their own respective accounts, fees in the amounts and at the times
separately agreed upon between the Borrower, Arranger and Administrative Agent.

     3.6 Computation of Interest and Fees.

          3.6.1 All computations of fees and interest shall be made on the basis of a 360-day year and
actual days elapsed (which results in more fees or interest, as applicable, being paid than if
computed on the basis of a 365 day year). Interest shall accrue on each Loan for the day on which
such Loan is made, and shall not accrue on a Loan, or any portion thereof, for the day on which the
Loan or such portion is paid; provided that any Loan that is repaid on the same day on
which it is made shall, subject to Section 3.8, bear interest for one day. Each
determination by Administrative Agent of an interest rate or fee hereunder shall be conclusive and
binding for all purposes, absent demonstrable error.

     3.7 Evidence of Debt. The Loans made by each Lender shall be evidenced by one or more
accounts or records maintained by such Lender and by Administrative Agent, in each case in the
ordinary course of business. The accounts or records maintained by Administrative Agent and each
Lender shall be prima facie evidence of the amount of the Loans made by Lenders to Borrower and the
interest and payments thereon. Any failure to so record or any error in doing so shall not,
however, limit or otherwise affect the obligations of Borrower hereunder to pay any amount owing
with respect to the Obligations. In the event of any conflict between the accounts and records
maintained by Administrative Agent and the accounts and records of any Lender in respect of such
matters, the accounts and records of Administrative Agent shall control in the absence of manifest
error.

     3.8 Payments Generally; Administrative Agent’s Clawback.

          3.8.1 All Payments Generally. All payments to be made by Borrower shall be made
without condition or deduction for any counterclaim, defense, recoupment or setoff.

          3.8.2 Payments Generally. Except as otherwise expressly provided herein or in the Fee
Letter, all payments by Borrower (other than payments under Section 11.4, which shall be made in
the currency in which such expenses are documented) shall be made to Administrative Agent in Euro
and in Same Day Funds, for the account of Persons to which such payment is owed, not later than
12:00 noon on the date due at such account as was most recently specified by Administrative Agent
to Borrower; provided that payments under Article IV and Section 11.4 shall be made to the
relevant Person at the account that such Person shall specify in any relevant notice.

          3.8.3 Distribution of Payments. With respect to payments and fees as set forth herein
to be paid to Administrative Agent, Administrative Agent will promptly distribute to each
applicable Lender its Percentage (or other applicable share as provided herein) of such payment in
like funds as received by wire transfer to such Lender’s Lending Office. All payments received by
Administrative Agent after 1:00 p.m. shall be deemed received on the next succeeding Business Day
and any applicable interest or fee shall continue to accrue. Except as otherwise expressly
provided herein, if any payment to be made by Borrower shall become due

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on a day other than a Business Day, payment shall be made on the next following Business Day,
and such extension of time shall be reflected in computing interest or fees, as the case may be.

          3.8.4 Funding by Lenders; Presumption by Administrative Agent. Unless Administrative
Agent shall have received notice from a Lender prior to the proposed date of any Borrowing that
such Lender will not make available to Administrative Agent such Lender’s share of such Borrowing,
Administrative Agent may assume that such Lender has made such share available on such date in
accordance with the requirements of this Agreement and may, in reliance upon such assumption, make
available to Borrower a corresponding amount. In such event, if a Lender has not in fact made its
share of the applicable Borrowing available to Administrative Agent, then the applicable Lender and
Borrower severally agree to pay to Administrative Agent forthwith on demand such corresponding
amount in the same currency and in Same Day Funds with interest thereon, for each day from the date
such amount is made available to Borrower to the date of payment to Administrative Agent, at (a) in
the case of a payment to be made by such Lender, the Overnight Rate and (b) in the case of a
payment to be made by Borrower, the interest rate applicable to the applicable Loans. If Borrower
and such Lender shall pay such interest to Administrative Agent for the same or an overlapping
period, Administrative Agent shall promptly remit to Borrower the amount of such interest paid by
Borrower for such period. If such Lender pays its share of the applicable Borrowing to
Administrative Agent, then the amount so paid shall constitute such Lender’s Loan included in such
Borrowing. Any payment by Borrower pursuant to this Section shall be without prejudice to any
claim Borrower may have against a Lender that shall have failed to make such payment to
Administrative Agent.

          3.8.5 Payments by Borrower; Presumptions by Administrative Agent. Unless
Administrative Agent shall have received notice from Borrower prior to the date on which any
payment is due to Administrative Agent for the account of the applicable Lenders hereunder that
Borrower will not make such payment, Administrative Agent may assume that Borrower has made such
payment on such date in accordance herewith and may, in reliance upon such assumption, distribute
to the applicable Lenders the amount due. In such event, if Borrower has not in fact made such
payment, then each applicable Lender severally agrees to repay to Administrative Agent forthwith on
demand the amount so distributed to such Lender in Same Day Funds with interest thereon, for each
day from the date such amount is distributed to it to the date of payment to Administrative Agent,
at the Overnight Rate. A notice by Administrative Agent to any Lender with respect to any amount
owing under this Section 3.8.5 shall be conclusive, absent demonstrable error.

          3.8.6 Failure to Satisfy Conditions Precedent. If any Lender makes available to
Administrative Agent funds for any Loan to be made by such Lender to Borrower as provided in this
Agreement, and such funds are not made available to Borrower by Administrative Agent because the
conditions to such Loan set forth in Article V are not satisfied or waived in accordance
with the terms hereof, Administrative Agent shall promptly return such funds (in like funds as
received from such Lender) to such Lender, plus interest thereon from the date funds were
made available to Administrative Agent by such Lender to the date such amount is returned by
Administrative Agent to such Lender, at a rate per annum equal to the Overnight Rate.

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          3.8.7 Obligations of Lenders Several. The obligations of Lenders hereunder to make
Loans and to make payments pursuant to Section 11.4.3 are several and not joint. The
failure of any Lender to make any Loan or to make any payment under Section 11.4.3 on any
date required hereunder shall not relieve any other Lender of its corresponding obligation (if any)
to do so on such date, and no Lender shall be responsible for the failure of any other Lender to
make any Loan or to make any payment under Section 11.4.3.

          3.8.8 Funding Source. Subject to Section 4.6.1, nothing herein shall be
deemed to obligate any Lender to obtain the funds for any Loan in any particular place or manner or
to constitute a representation by any Lender that it has obtained or will obtain the funds for any
Loan in any particular place or manner.

     3.9 Sharing of Payments by Lenders. If any Lender shall, by exercising any right of setoff or
counterclaim or otherwise, obtain payment in respect of any principal of or interest on any of the
Loans made by it resulting in such Lender’s receiving payment of a proportion of the aggregate
amount of such Loans and accrued interest greater than its pro rata share as
provided herein, then the Lender receiving such greater proportion shall (a) notify Administrative
Agent of such fact and (b) purchase (for cash at face value) participations in the Loans of the
other Lenders, or make such other adjustments as shall be equitable, so that the benefit of all
such payments shall be shared by Lenders ratably in accordance with the aggregate amount of
principal of and accrued interest on their respective Loans; provided that:

     (i) if any such participations are purchased and all or any portion of the
payment giving rise thereto is recovered, such participations shall be rescinded and
the purchase price restored to the extent of such recovery, without interest; and

     (ii) the provisions of this Section shall not be construed to apply to (A) any
payment made by Borrower pursuant to and in accordance with the express terms of
this Agreement or (B) any payment obtained by a Lender as consideration for the
assignment of or sale of a participation in any of its Loans to any assignee or
participant, other than to ProLogis, Borrower or any of their respective Affiliates
(as to which the provisions of this Section shall apply).

     Borrower consents to the foregoing and agrees, to the extent it may effectively do so under
applicable Law, that any Lender acquiring a participation pursuant to the foregoing arrangements
may exercise against Borrower rights of setoff and counterclaim with respect to such participation
as fully as if such Lender were a direct creditor of Borrower in the amount of such participation.

     3.10 Extension of Maturity Date.

          3.10.1 Request for Extension. Not earlier than 30 days prior to, nor later than ten
days prior to, the Maturity Date, Borrower may, upon written notice to Administrative Agent (which
shall promptly notify the Lenders) and satisfaction of the conditions precedent set forth in
Section 3.10.2, extend the Maturity Date to April 20, 2012.

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          3.10.2 Extension Procedures. The extension of the Maturity Date contemplated by
Section 3.10.1 shall become effective on the date (the “Extension Effective Date”)
on which the following conditions precedent have been satisfied: (i) Administrative Agent shall
have received the written notice referred to in Section 3.10.1 and (ii) Borrower shall have
paid to Administrative Agent, for the benefit of each Lender in accordance with its Percentage, an
extension fee in an amount equal to 0.375% times the sum of (x) the Total Outstandings as of such
date and (y) the Aggregate Commitments as of such date; provided that if an Event of
Default has occurred and is continuing on the date on which such conditions are satisfied, the
Extension Effective Date shall be the first date thereafter, if any, on or before October 21, 2011
on which no Event of Default is continuing. Upon the satisfaction of the conditions precedent set
forth in this Section 3.10.2 and the occurrence of the Extension Effective Date,
Administrative Agent shall promptly confirm to Borrower and the Lenders such extension and the
Extension Effective Date.

ARTICLE IV.

TAXES, YIELD PROTECTION AND ILLEGALITY

     4.1 Taxes.

          4.1.1 Payments Free of Taxes. All payments by or on account of any obligation of any
Obligor hereunder or under any other Loan Document shall be made free and clear of and without
reduction or withholding for any Taxes; provided that if such Obligor shall be required by
applicable law to deduct any Indemnified Taxes (including any Other Taxes) from such payments, then
(a) the sum payable shall be increased as necessary so that after making all required deductions
(including deductions applicable to additional sums payable under this Section), the applicable
Credit Party receives an amount equal to the sum it would have received had no such deductions been
made, (b) such Obligor shall make such deductions, and (c) such Obligor shall timely pay the full
amount deducted to the relevant Governmental Authority in accordance with applicable law.

          4.1.2 Payment of Other Taxes by Borrower. Without limiting the provisions of
Section 4.1.1, Borrower shall timely pay any Other Taxes to the relevant Governmental
Authority in accordance with applicable law.

          4.1.3 Indemnification by Borrower. The Obligors shall jointly and severally indemnify
each Credit Party, within 10 days after demand therefor, for the full amount of any Indemnified
Taxes or Other Taxes (including Indemnified Taxes or Other Taxes imposed or asserted on or
attributable to amounts payable under this Section) paid or payable by such Credit Party on or with
respect to any payment made to such Credit Party by or on account of any Obligor hereunder or under
any other Loan Document, and any penalties, interest and reasonable and documented expenses arising
therefrom or with respect thereto, whether or not such Indemnified Taxes or Other Taxes were
correctly or legally imposed or asserted by the relevant Governmental Authority. A certificate as
to the amount of such payment or liability delivered to Borrower by a Lender (with a copy to
Administrative Agent), or by Administrative Agent on its own behalf or on behalf of a Credit Party,
shall be conclusive absent demonstrable error.

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

          4.1.5 Status of Lenders. Any Lender that is entitled to an exemption from or
reduction of withholding tax under the law of the jurisdiction in which an Obligor is resident for
tax purposes or is otherwise subject to tax, or any treaty to which any such jurisdiction is a
party or which otherwise benefits such Lender, with respect to payments hereunder or under any
other Loan Document shall deliver to Borrower (with a copy to Administrative Agent), at the time or
times prescribed by applicable law or reasonably requested by Borrower or Administrative Agent,
such properly completed and executed documentation prescribed by applicable law as will permit such
payments to be made without withholding or at a reduced rate of withholding. In addition, any
Lender, if requested by Borrower or Administrative Agent in writing, shall deliver such other
documentation (including Internal Revenue Service Form W-9) prescribed by applicable law or
reasonably requested by Borrower or Administrative Agent as will enable Borrower or Administrative
Agent to determine whether or not such Lender is subject to any withholding or information
reporting requirements.

     Without limiting the generality of the foregoing, if Borrower is resident for tax purposes in
the United States, engaged in the conduct of a trade or business in the United States, a
disregarded entity (as defined in Treasury Regulation section 301.7701-3 of the Code) owned by a
resident of the United States, a qualified REIT subsidiary (as defined in Section 856(i) of the
Code) or otherwise subject to tax in the United States, any Non-U.S. Lender shall deliver to
Borrower and Administrative Agent (in such number of copies as shall be requested by the recipient)
on or prior to the date on which such Non-U.S. Lender becomes a Lender under this Agreement (and
from time to time thereafter upon the request of Borrower or Administrative Agent, but only if such
Non-U.S. Lender is legally entitled to do so), whichever of the following is applicable:

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

          (b) duly completed copies of Internal Revenue Service Form W-8ECI,

          (c) in the case of a Non-U.S. Lender claiming the benefits of the exemption for
portfolio interest under section 881(c) of the Code, (i) a certificate to the effect that
such Non-U.S. Lender is not (A) a “bank” within the meaning of section 881(c)(3)(A) of the
Code, (B) a “10 percent shareholder” of Borrower within the meaning of section 881(c)(3)(B)
of the Code, or (C) a “controlled foreign corporation” described in section 881(c)(3)(C) of
the Code (a “U.S. Tax Certificate”) and (ii) duly completed copies of Internal
Revenue Service Form W-8BEN,

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          (d) in the case of a Non-U.S. Lender that is not the beneficial owner of payments made
under this Agreement (including a partnership or a participating Lender) (1) an IRS Form
W-8IMY on behalf of itself and (2) the relevant forms prescribed in clauses (a), (b), (c),
(d) and (e) of this Section 4.1.5 (f)(ii) that would be required of each such beneficial
owner or partner of such partnership if such beneficial owner or partner were a Lender;
provided, however, that if the Lender is a partnership and one or more of
its partners are claiming the exemption for portfolio interest under Section 881(c) of the
Code, such Lender may provide a U.S. Tax Certificate on behalf of such partners, or

          (e) any other form prescribed by applicable law as a basis for claiming exemption from
or a reduction in United States Federal withholding tax duly completed together with such
supplementary documentation as may be prescribed by applicable law to permit Borrower to
determine the withholding or deduction required to be made.

          Each Lender shall promptly (1) notify Administrative Agent of any change in
circumstances which would modify or render invalid any claimed exemption from or reduction
of Taxes or Other Taxes, and (2) take such steps as shall not be materially disadvantageous
to it, in the reasonable judgment of such Lender, and as may be reasonably necessary
(including the re-designation of its Lending Office) to avoid any requirement of applicable
Law that Borrower make any deduction or withholding for Taxes from amounts payable to such
Lender. Additionally, Borrower shall promptly deliver to the applicable Credit Party, as
such Credit Party shall reasonably request, on or prior to the Funding Date (or, if later,
the date such Lender becomes a party to this Agreement), and in a timely fashion thereafter,
such documents and forms required by any relevant taxing authorities under the Laws of any
jurisdiction, duly executed and completed by Borrower, as are required to be furnished by
such Credit Party under such Laws in connection with any payment by such Credit Party of
Indemnified Taxes or Other Taxes, or otherwise in connection with the Loan Documents, with
respect to such jurisdiction.

          4.1.6 Exemption Representation.

          (a) Each Lender represents and warrants (such Lender’s “Exemption
Representation”) to Borrower that, as of the date of this Agreement or, in the case of a
Person that becomes a Lender after the Closing Date, as of the date such Person becomes a
Party, except as specified in writing to Administrative Agent and Borrower prior to the date
of the applicable Exemption Representation, it is entitled to receive payments from Borrower
without any reduction or withholding in respect of any Indemnified Taxes or Other Taxes and
without any amount being required to be paid by any Obligor pursuant to Section
4.1.3.

          (b) Notwithstanding any other provision of this Agreement, no Obligor shall be
obligated to pay any amount under this Section 4.1 to, or for the benefit of, any
Lender to the extent that such amount would not have been required to be paid if (x) such
Lender’s Exemption Representation had been accurate or (y) such Lender had complied with its
obligations under Section 4.1.5.

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          4.1.7 Treatment of Certain Refunds. If any Party determines, in its sole discretion,
that it has received a refund of any Taxes as to which it has been indemnified pursuant to this
Section 4.1 or with respect to which it has received additional amounts pursuant to this
Section, it shall pay to the indemnifying party an amount equal to such refund (but only to the
extent of indemnity payments made under this Section giving rise to such refund), net of all
reasonable and documented out-of-pocket expenses (including Taxes) of such indemnified party, and
without interest (other than any interest paid by the relevant Governmental Authority with respect
to such refund); provided that such indemnifying party, upon the request of such indemnified party,
agrees to repay the amount paid over to such indemnifying party (plus any penalties, interest or
other charges imposed by the relevant Governmental Authority) to such indemnified party in the
event such indemnified party is required to repay such refund to such Governmental Authority. This
Section 4.1.7 shall not be construed to require any indemnified party to make available its
tax returns (or any other information relating to its taxes that it deems confidential) to such
indemnifying party or any other Person.

          4.1.8 FATCA. If a payment made to a Lender under any Loan Document would be subject to United
States Federal withholding Tax imposed by FATCA if such Lender were to fail to comply with the
applicable reporting requirements of FATCA (including those contained in Section 1471(b) or 1472(b)
of the Code, as applicable), such Lender shall deliver to the Borrower, at the time or times
prescribed by law and at such time or times reasonably requested by the Borrower, such
documentation prescribed by applicable law (including as prescribed by Section 1471(b)(3)(C)(i) of
the Code) and such additional documentation reasonably requested by the Borrower as may be
necessary for the Borrower to comply with its obligations under FATCA, to determine that such
Lender has or has not complied with such Lender’s obligations under FATCA and, as necessary, to
determine the amount to deduct and withhold from such payment. Solely for purposes of this Section
4.1.8, “FATCA” shall include any amendments made to FATCA after the date of this Agreement.

          4.1.9 Indemnification by the Lenders. Each Lender shall severally indemnify the
Administrative Agent for any Taxes (but, in the case of any Indemnified Taxes, only to the extent
that the Obligors have not already indemnified the Administrative Agent for such Indemnified Taxes
and without limiting the obligation of the Obligors to do so) attributable to such Lender that are
paid or payable by the Administrative Agent in connection with any Loan Document and any reasonable
expenses arising therefrom or with respect thereto, whether or not such Taxes were correctly or
legally imposed or asserted by the relevant Governmental Authority. The indemnity under this
Section 4.1.9 shall be paid within 10 days after the Administrative Agent delivers to the
applicable Lender a certificate stating the amount of Taxes so paid or payable by the
Administrative Agent. Such certificate shall be conclusive of the amount so paid or payable absent
manifest error.

     4.2 Illegality. If any Lender determines that any Law has made it unlawful, or that any
Governmental Authority has asserted that it is unlawful, for such Lender or its applicable Lending
Office to make, maintain or fund Eurocurrency Rate Loans in any currency, or to determine or charge
interest rates based upon the Eurocurrency Rate, or any Governmental Authority has imposed material
restrictions on the authority of such Lender to purchase or sell, or to take deposits of, any
applicable currency in the applicable interbank market, then, on notice

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thereof by such Lender to Borrower through Administrative Agent, any obligation of such Lender
to make or continue Eurocurrency Rate Loans in the affected currency shall be suspended until such
Lender notifies Administrative Agent and Borrower that the circumstances giving rise to such
determination no longer exist. Upon receipt of such notice, Borrower shall, upon demand from such
Lender (with a copy to Administrative Agent), prepay the Eurocurrency Rate Loans of such Lender or
convert such Loans to Substitute Rate Loans either on the last day of the Interest Period therefor
or on such earlier date on which such Lender may not lawfully continue to maintain such
Eurocurrency Rate Loans. Upon any such prepayment or conversion, Borrower shall also pay accrued
interest on the amount so prepaid or converted.

     4.3 Market Disruptions. If (a) Required Lenders determine in good faith that for any reason
in connection with any request for Eurocurrency Rate Loans or a continuation thereof that (i)
deposits in Euro are not being offered to banks in the applicable interbank market for the amount
and Interest Period for such Loans, (ii) adequate and reasonable means do not exist for determining
the Eurocurrency Rate for the requested Interest Period for such Loans or (iii) the Eurocurrency
Rate for any requested Interest Period for such Loans does not adequately and fairly reflect the
cost to such Lenders of funding such Loans for such Interest Period, or (b) the Eurocurrency Rate
is to be determined by reference to Reference Banks at or about 11:00 a.m. Brussels time on the
determination date for the Interest Period applicable to a Borrowing or continuation, and none of
the Reference Banks supplies a rate for the purpose of determining the Eurocurrency Rate for such
Borrowing or continuation, then, in any such event Administrative Agent will promptly so
notify Borrower and each Lender of such event. Thereafter, the obligation of the Lenders to make
or maintain Eurocurrency Rate Loans shall be suspended until Administrative Agent (upon instruction
by Required Lenders) revokes such notice, and any outstanding Eurocurrency Rate Loans shall, prior
to such revocation, bear interest at the Substitute Rate. Upon receipt of such notice, Borrower
may revoke any pending request for a Borrowing or continuation or, failing that, will be deemed to
have converted such request into a request for a Borrowing of Substitute Rate Loans.

     4.4 Increased Costs Generally.

          4.4.1 Increased Costs. If any Change in Law shall:

          (a) impose, modify or deem applicable any reserve, special deposit, compulsory loan,
insurance charge or similar requirement against assets of, deposits with or for the account
of, or credit extended or participated in by, any Credit Party (except (i) any reserve
requirement contemplated by Section 4.4.4 and (ii) any amount included in the
Mandatory Cost, other than as set forth below);

          (b) subject any Credit Party to any Tax of any kind whatsoever with respect to this
Agreement or any Loan made by it, or change the basis of taxation of payments to such Credit
Party in respect thereof (except for (i) Taxes imposed on or with respect to any payment
made by any Obligor under any Loan Document, (ii) Other Taxes covered by Section 4.1
and (iii) the imposition of, or any change in the rate of, any Excluded Tax);

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          (c) result in the Mandatory Cost, as calculated hereunder, not representing the cost to
any Credit Party of complying with the requirements of the Bank of England, the Financial
Services Authority, and the European Central Bank, as applicable, in relation to its making,
funding or maintaining Loans; or

          (d) impose on any Credit Party or any applicable interbank market any other condition,
cost or expense affecting this Agreement or any Loans made by such Credit Party;

and the result of any of the foregoing shall be to increase the cost to such Credit Party of making
or maintaining any Loan (or of maintaining its obligation to make any Loan), or to reduce the
amount of any sum received or receivable by such Credit Party hereunder (whether of principal,
interest or any other amount), then, upon request of such Credit Party, Borrower will pay to such
Credit Party such additional amount or amounts as will compensate such Credit Party for such
additional costs incurred or reduction suffered.

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

          4.4.3 Certificates for Reimbursement. Any Credit Party requesting compensation
pursuant to this Section 4.4 shall deliver to Borrower (with a copy to Administrative
Agent) a certificate setting forth in reasonable detail the basis for such request and a
calculation of the amount necessary to compensate such Credit Party or its holding company, as the
case may be, as specified in Section 4.4.1 or 4.4.2 above, and any such certificate
shall be conclusive absent demonstrable error. Borrower shall pay such Credit Party the amount
shown as due on any such certificate within 15 days after receipt thereof.

          4.4.4 Additional Reserve Requirements. The Borrower shall pay to each Lender, as long
as such Lender shall be required to maintain reserves with respect to liabilities or assets
consisting of or including Eurocurrency funds or deposits (currently known as “Eurocurrency
liabilities”), additional interest on the unpaid principal amount of each Eurocurrency Rate Loan of
such Lender equal to the actual costs of such reserves allocated to such Loan by such Lender (as
determined by such Lender in good faith, which determination shall be conclusive absent
demonstrable error), such additional interest to be due and payable on each date on which interest
is payable on such Loan; provided that the Borrower shall have received at least 15 days’
prior notice (with a copy to Administrative Agent) of the amount of such additional interest from
such Lender. If a Lender fails to give notice 15 days prior to the

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relevant Interest Payment Date, such additional interest or costs shall be due and payable 15
days after receipt of such notice.

          4.4.5 Limitations on Lender Claims. Notwithstanding the foregoing provisions of this
Section 4.4, no Lender shall be entitled to compensation for any cost, increased costs or
liability resulting from a failure by such Lender to comply with any request from or requirement of
any central banking or financial regulatory authority (whether or not having the force of law, but
if not having the force of law being a request of a nature with which banks generally are expected
or accustomed to comply).

     4.5 Compensation for Losses. Borrower agrees that it will, from time to time, indemnify each
Lender for and hold each Lender harmless from any actual and documented loss, cost or expense
incurred by such Lender as a result of:

          (a) any continuation, payment or prepayment of any Loan of such Lender to Borrower on a
day other than the last day of the Interest Period for such Loan (whether voluntary,
mandatory, automatic, by reason of acceleration, or otherwise);

          (b) any failure by Borrower (for a reason other than the failure of such Lender to make
a Loan) to prepay, borrow, or continue any Loan of (or to be made by) such Lender to
Borrower on the date or in the amount notified by Borrower; or

          (c) any assignment of a Eurocurrency Rate Loan of such Lender to an assignee on a day
other than the last day of the Interest Period therefor as a result of a request by Borrower
pursuant to Section 11.12;

including any actual and documented loss or expense arising from the liquidation or reemployment of
funds obtained by it to maintain such Loans or from fees payable to terminate the deposits from
which such funds were obtained (but excluding any loss of anticipated profits).

     For purposes of calculating amounts payable by Borrower to a Lender under this Section
4.5, each Lender shall be deemed to have funded each Eurocurrency Rate Loan made by it at the
Eurocurrency Rate for such Loan by a matching deposit or other borrowing in the offshore interbank
market for such currency for a comparable amount and for a comparable period, whether or not such
Eurocurrency Rate Loan was in fact so funded.

     Any Lender requesting compensation pursuant to this Section 4.5 shall deliver to
Borrower (with copies to Borrower and Administrative Agent) a certificate setting forth in
reasonable detail a calculation of the amount demanded and any such certificate shall be conclusive
absent demonstrable error. Borrower shall pay the applicable Lender the amount shown as due on any
such certificate within 15 days after receipt thereof.

     4.6 Mitigation Obligations; Replacement of Lenders.

          4.6.1 Designation of a Different Lending Office. If any Credit Party requests
compensation under Section 4.4, or Borrower is required to pay any additional amount to any
Credit Party or any Governmental Authority for the account of any Credit Party pursuant to

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Section 4.1, or if any Credit Party gives a notice pursuant to Section 4.2,
then such Credit Party shall use reasonable efforts to designate a different Lending Office for
funding or booking its Loans hereunder or to assign its rights and obligations hereunder to another
of its offices, branches or affiliates, if, in the reasonable judgment of such Credit Party, such
designation or assignment (a) would eliminate or reduce amounts payable pursuant to Section
4.1 or 4.4, as the case may be, in the future, or eliminate the need for the notice
pursuant to Section 4.2, and (b) in each case, would not subject such Credit Party to any
unreimbursed cost or expense and would not otherwise be disadvantageous to such Credit Party.
Borrower hereby agrees to pay all reasonable and documented costs and expenses incurred by any
Credit Party in connection with any such designation or assignment.

          4.6.2 Delay in Requests. Failure or delay on the part of any Credit Party to demand
compensation pursuant to Section 4.1, 4.4, or 4.5 shall not constitute a
waiver of such Credit Party’s right to demand such compensation; provided that Borrower
shall not be required to compensate a Credit Party pursuant to any such Section for any Indemnified
Taxes, Other Taxes, increased cost, reduction in return, funding loss or other amount (any of the
foregoing, a “Compensation Amount”) incurred or suffered more than six months prior to the
date that such Credit Party notified Borrower of the Change in Law or other event giving rise to
such Compensation Amount and of such Credit Party’s intention to claim compensation therefor
(except that, if the Change in Law or other event giving rise to such Compensation Amount is
retroactive, then the six month period referred to above shall be extended to include the period of
retroactive effect thereof).

          4.6.3 Replacement of Lenders. If any Lender requests compensation under Section
4.4, or if Borrower is required to pay any additional amount to any Lender or any Governmental
Authority for the account of any Lender pursuant to Section 4.1, Borrower may replace such
Lender in accordance with Section 11.12.

     4.7 Survival. All obligations under this Article IV shall survive termination of the
Aggregate Commitments and repayment of all Obligations hereunder.

ARTICLE V.

CONDITIONS PRECEDENT

     5.1 Conditions to Effectiveness. The effectiveness of this Agreement is subject to
satisfaction of the following conditions precedent:

          5.1.1 Documents. Administrative Agent’s receipt (which may be by facsimile or
electronic mail, followed promptly by originals), of the following, each properly executed by a
Responsible Officer of each relevant Party, each dated the Closing Date (or, in the case of
certificates of governmental officials, a recent date on or before the Closing Date) and each in
form and substance reasonably satisfactory to Administrative Agent and each Lender:

          (a) executed counterparts of this Agreement and the Parent Guaranty;

          (b) such certificates of resolutions or other action, incumbency certificates and/or
other certificates of Responsible Officers of Borrower and ProLogis as

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Administrative Agent may reasonably require evidencing the authorization by the
applicable Person of the transactions contemplated hereby and the identity, authority and
capacity of the Responsible Officers of such Person authorized to execute and deliver the
Loan Documents to which such Person is a party;

          (c) such documents and certifications as Administrative Agent may reasonably require to
evidence that each of Borrower and ProLogis is duly organized or formed in the jurisdiction
of its organization or formation and in good standing under the Laws of its jurisdiction of
organization or formation;

          (d) an opinion of Mayer Brown LLP, addressed to Administrative Agent and each Lender,
as to such matters concerning Borrower, ProLogis and the Loan Documents as Administrative
Agent may reasonably request;

          (e) a certificate of a Responsible Officer of each of Borrower and ProLogis either (a)
attaching copies of all consents, licenses and approvals required in connection with the
execution, delivery and performance by such Person, and the validity against such Person, of
the Loan Documents to which it is a party, and that such consents, licenses and approvals
are in full force and effect, or (b) stating that no such consents, licenses or approvals
are so required;

          (f) a certificate of an officer of ProLogis certifying (i) the Moody’s Rating, S&P
Rating and Fitch Rating as of the date thereof, (ii) that the obligations of ProLogis under
the Parent Guaranty have been designated as Designated Senior Debt (as such term is defined
in the Global Agreement), and attaching a copy of the Notice of Designated Senior Debt (as
defined in the Security Agency Agreement referred to in the Global Agreement) and (iii) that
the execution, delivery and performance by each of Borrower and ProLogis of each Loan
Document to which it is a party do not and will not conflict with, and no event of default
has occurred and is continuing pursuant to, the terms of the Merger Agreement, the Global
Agreement or any other material agreement of ProLogis or any of its subsidiaries;

          (g) such documentation and other evidence as is reasonably requested by Administrative
Agent (for itself or on behalf of any Lender) or any Lender for Administrative Agent or such
Lender to carry out and be satisfied that it has complied with all necessary “know your
customer” or other similar checks under all applicable Laws; and

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

     5.1.2 Fees. Any fees required to be paid on or before the Closing Date shall have
been paid.

     5.1.3 Expenses. Unless waived by Administrative Agent, Borrower shall have paid all
reasonable and documented fees, charges and disbursements of counsel to Administrative Agent to the
extent invoiced prior to or on the Closing Date.

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          5.1.4 Tender Offer Documentation. The Administrative Agent shall be reasonably
satisfied with the terms of the Tender Offer and the Tender Offer Documentation (it being
understood and agreed that the Administrative Agent is satisfied with the terms of the Tender Offer
and the Tender Offer Documentation reflected in the draft Tender Offer Documentation distributed to
the Administrative Agent on April 21, 2011).

     Without limiting the generality of the provisions of Section 10.4, for purposes of
determining compliance with the conditions specified in this Section 5.1, each Lender that
has signed this Agreement shall be deemed to have consented to, approved or accepted or to be
satisfied with each document or other matter required hereunder to be consented to or approved by
or acceptable or satisfactory to a Lender unless Administrative Agent shall have received notice
from such Lender prior to the proposed Closing Date specifying its objection thereto.

     5.2 Conditions to all Loans. The obligation of each Lender to make any Loan (including its
initial Loan) is subject to the following conditions precedent:

          5.2.1 Specified Representations and Warranties. The representations and warranties of
(i) Borrower set forth in Sections 6.1 though 6.6 of this Agreement and (ii)
ProLogis set forth in Sections 3.1 through 3.6 of the Parent Guaranty shall, in each case, be true
and correct in all material respects (or, in the case of any such representations and warranties
that are qualified by materiality or Material Adverse Effect, shall, in each case, be true and
correct in all respects) on and as of the date of such Loan, except to the extent that such
representations and warranties specifically refer to an earlier date, in which case they shall be
true and correct in all material respects (or, in the case of any such representations and
warranties that are qualified by materiality or Material Adverse Effect, shall, in each case, be
true and correct in all respects) as of such earlier date.

          5.2.2 Specified Events of Default. No Specified Event of Default shall have occurred
or would result from such Loan or the application of the proceeds thereof.

          5.2.3 Loan Notice. Administrative Agent shall have received a Loan Notice requesting
the making of Loans in accordance with the requirements hereof.

          5.2.4 Fees and Expenses. Administrative Agent shall have received all unpaid fees and
expenses owing by the Borrower hereunder and under the other Loan Documents that have been invoiced
prior to the date of the Borrowing to be effected under the applicable Loan Notice.

          5.2.5 Conditions to Tender Offer. The conditions to Borrower’s purchase of the Units,
as set forth in the Tender Offer Documents, shall have been satisfied.

     Each Loan Notice submitted by Borrower requesting the making of Loans shall be deemed to be a
representation and warranty that the conditions specified in Sections 5.2.1, 5.2.2
and 5.2.5 are satisfied on and as of the date of the applicable Loans.

     In addition (and not as a condition to the funding of any Borrowing), each Loan Notice
submitted by Borrower requesting the making of a Loan shall be deemed to be a representation

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and warranty by Borrower and each Guarantor that all representations and warranties of
Borrower and each Guarantor set forth herein and in the other Loan Documents are true and correct
in all material respects (or, in the case of any such representations and warranties that are
qualified by materiality or Material Adverse Effect, are true and correct in all respects) on and
as of the date of such Loan, except to the extent that such representations and warranties
specifically refer to an earlier date, in which case they shall be true and correct in all material
respects (or, in the case of any such representations and warranties that are qualified by
materiality or Material Adverse Effect, are true and correct in all respects) as of such earlier
date.

ARTICLE VI.

REPRESENTATIONS AND WARRANTIES

     Borrower represents and warrants to the Credit Parties that:

     6.1 Existence, Qualification and Power. Borrower (a) is duly organized or formed, validly
existing and in good standing under the Laws of the jurisdiction of its incorporation or
organization, (b) has all requisite power and authority and all requisite governmental licenses,
authorizations, consents and approvals to (i) own or lease its assets and carry on its business and
(ii) execute, deliver and perform its obligations under the Loan Documents to which it is a party,
and (c) is duly qualified and is licensed and in good standing under the Laws of each jurisdiction
where its ownership, lease or operation of properties or the conduct of its business requires such
qualification or license; except in each case referred to in clause (b)(i) and (c)
above, to the extent that failure to do so could not reasonably be expected to have a Material
Adverse Effect.

     6.2 Authorization; No Contravention. The execution, delivery and performance by Borrower of
each Loan Document to which it is party have been duly authorized by all necessary corporate or
other organizational action, and do not and will not: (a) contravene the terms of any of its
Organization Documents; (b) conflict with or result in any breach or contravention of, or the
creation of any Lien under, or require any payment to be made under, (i) any Contractual Obligation
to which it is a party or affecting it or its properties, (ii) the Merger Agreement or (iii) any
order, injunction, writ or decree of any Governmental Authority or any arbitral award to which it
or its property is subject; or (c) violate any Law.

     6.3 Governmental Authorization; Other Consents. No approval, consent, exemption,
authorization, or other action by, or notice to, or filing with, any Governmental Authority or any
other Person is necessary or required in connection with the execution, delivery or performance by,
or enforcement against, Borrower of this Agreement or any other Loan Document (excluding consents
that have been obtained and are in full force and effect).

     6.4 Binding Effect. This Agreement has been, and each other Loan Document to which Borrower
is a party, when delivered hereunder, will have been, duly executed and delivered by Borrower.
This Agreement constitutes, and each other Loan Document to which Borrower is a party when so
delivered will constitute, a legal, valid and binding obligation of Borrower, enforceable against
Borrower in accordance with its terms, subject to applicable Debtor Relief Laws and general
principles of equity.

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     6.5 Margin Regulations. Borrower is not engaged and will not engage, principally or as one of
its important activities, in the business of purchasing or carrying margin stock (within the
meaning of Regulation U issued by the Federal Reserve Bank), or extending credit for the purpose of
purchasing or carrying margin stock. Borrower has not and will not use the proceeds of any Loans
for any purpose that entails a violation of any of Regulation T, U or X issued by the Federal
Reserve Bank.

     6.6 Investment Company Act. Borrower is not, and is not required to be registered as, an
“investment company” under the Investment Company Act of 1940.

     6.7 Litigation. As of the Closing Date, there are no actions, suits, proceedings, claims or
disputes pending or, to the knowledge of Borrower after due and diligent investigation, threatened
or contemplated, at law, in equity, in arbitration or before any Governmental Authority, by or
against Borrower or against any of Borrower’s properties or revenues that (a) purport to affect or
pertain to this Agreement or any other Loan Document, or any of the transactions contemplated
hereby, or (b) either individually or in the aggregate, if determined adversely, would reasonably
be expected to have a Material Adverse Effect.

     6.8 No Default. Borrower is not in default under or with respect to any Contractual
Obligation that would, either individually or in the aggregate, reasonably be expected to have a
Material Adverse Effect. No Default has occurred and is continuing or would result from the
consummation of the transactions contemplated by this Agreement or any other Loan Document.

     6.9 Compliance with Laws. Borrower is in compliance in all material respects with the
requirements of all Laws and all orders, writs, injunctions and decrees applicable to it or to its
properties, except in such instances in which (a) such requirement of Law or order, writ,
injunction or decree is being contested in good faith by appropriate proceedings diligently
conducted or (b) the failure to comply therewith, either individually or in the aggregate, would
not reasonably be expected to have a Material Adverse Effect.

     6.10 Solvency. Borrower is, and after giving effect to all Obligations hereunder will be,
Solvent.

ARTICLE VII.

AFFIRMATIVE COVENANTS

     So long as any Lender shall have any Commitment hereunder or any Loan or other Obligation
shall remain unpaid or unsatisfied:

     7.1 Information. Borrower shall deliver to Administrative Agent, in form and detail
satisfactory to Administrative Agent:

     (a) promptly after filing and to the extent that the same is not publicly available,
copies of all material reports or filings filed by or on behalf of Borrower with any
Governmental Authority; and

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     (b) promptly, such additional information regarding the financial position or business
of Borrower, or compliance with the terms of the Loan Documents, as Administrative Agent may
from time to time reasonably request in writing, to the extent that the same is not publicly
available; provided that, unless a Default has occurred and is continuing, Borrower
shall not be obligated to deliver any such additional information unless it produces or
compiles such information in the ordinary course of business.

     Documents required to be delivered pursuant to Section 7.1(a) or (b) may be
delivered electronically and if so delivered, shall be deemed to have been delivered on the date
(i) on which Borrower posts such documents, or provides a link thereto, on Borrower’s website on
the Internet at the website address listed on Schedule 11.2; or (ii) on which such
documents are posted on Borrower’s behalf on an Internet or intranet website, if any, to which each
Credit Party has access (whether a commercial, third-party website or a website sponsored by
Administrative Agent); provided that: Borrower shall notify Administrative Agent (by
facsimile or electronic mail) of the posting of any such documents and provide to Administrative
Agent by electronic mail electronic versions (i.e., soft copies) of such documents. Administrative
Agent shall have no obligation to request the delivery or to maintain copies of the documents
referred to above, and in any event shall have no responsibility to monitor compliance by Borrower
with any such request for delivery, and each Lender shall be solely responsible for requesting
delivery to it or maintaining its copies of such documents.

     Borrower hereby acknowledges that (a) Administrative Agent and/or the Arranger will make
available to each Lender materials and/or information provided by or on behalf of Borrower and
various affiliates thereof hereunder (collectively, “Borrower Materials”) by posting
Borrower Materials on IntraLinks or another similar electronic system (the “Platform”) and
(b) certain Lenders may be “public-side” Lenders (i.e., Lenders that do not wish to receive
material non-public information with respect to Borrower and its affiliates or their respective
securities) (each, a “Public Lender”). Borrower hereby agrees that: (i) all Borrower
Materials that are to be made available to Public Lenders shall be clearly and conspicuously marked
“PUBLIC” which, at a minimum, shall mean that the word “PUBLIC” shall appear prominently on the
first page thereof; (ii) by marking Borrower Materials “PUBLIC,” Borrower shall be deemed to have
authorized each Credit Party to treat such Borrower Materials as not containing any material
non-public information with respect to Borrower or its securities for purposes of applicable Laws
(provided that to the extent such Borrower Materials constitute Information, they shall be
treated as set forth in Section 11.7); (iii) all Borrower Materials marked “PUBLIC” are
permitted to be made available through a portion of the Platform designated “Public Investor”; and
(iv) Administrative Agent and the Arranger shall be entitled to treat any Borrower Materials that
are not marked “PUBLIC” as being suitable only for posting on a portion of the Platform not
designated “Public Investor.” Notwithstanding the foregoing, Borrower shall have no obligation to
mark any Borrower Materials “PUBLIC.”

     7.2 Notices.

          7.2.1 Notice of Certain Events. Borrower shall promptly notify Administrative Agent
of (a) the occurrence of any Default; and (b) any matter that has resulted or could reasonably be
expected to result in a Material Adverse Effect, including (to the extent they meet

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the foregoing standard): (i) a breach or non-performance of, or any default under, a
Contractual Obligation of Borrower; (ii) any dispute, litigation, investigation, proceeding or
suspension between Borrower and any Governmental Authority; or (iii) the commencement of, or any
material development in, any litigation or proceeding affecting Borrower.

          7.2.2 Notice of Ratings Changes. Promptly, and in any event within five Business
Days, after receipt by Borrower of notice thereof, notify Administrative Agent of any change in the
Moody’s Rating, the S&P Rating or the Fitch Rating.

          7.2.3 Notice of New Syndicated Agreement. Promptly upon any agreement (the “New
Agreement”) becoming the “Syndicated Agreement” hereunder, Borrower shall deliver to
Administrative Agent a list of the provisions of the New Agreement that correspond to the
provisions of the prior Syndicated Agreement that have been incorporated by reference into a Parent
Guaranty.

          7.2.4 Notices Generally. Each notice pursuant to Sections 7.2.1 and
7.2.2 shall be accompanied by a statement of a Responsible Officer setting forth details of
the occurrence referred to therein and stating what action Borrower has taken and proposes to take
with respect thereto. Each notice pursuant to Section 7.2.1(a) shall describe with
particularity all provisions of this Agreement and any other Loan Document that have been breached.
Administrative Agent shall promptly notify the Lenders of any notice received under this
Section 7.2.

     7.3 Payment of Obligations. Borrower shall pay and discharge as the same shall become due and
payable, all of its Liabilities (including tax Liabilities), except to the extent (a) the same are
being contested in good faith by appropriate proceedings diligently conducted and adequate reserves
in accordance with GAAP are being maintained therefor or (b) the failure to pay and discharge such
Liabilities would not reasonably be expected to result in a Material Adverse Effect.

     7.4 Preservation of Existence, Etc. Borrower shall: (a) preserve, renew and maintain in full
force and effect its legal existence and good standing under the Laws of the jurisdiction of its
organization except in a transaction permitted by Section 8.1; (b) take all reasonable
action to maintain all rights, privileges, permits, licenses and franchises necessary or desirable
in the normal conduct of its business, except to the extent that failure to do so would not
reasonably be expected to have a Material Adverse Effect; and (c) preserve or renew all of its
registered patents, trademarks, trade names and service marks, the non-preservation of which would
reasonably be expected to have a Material Adverse Effect.

     7.5 Compliance with Laws. Borrower shall comply in all material respects with the
requirements of all Laws and all orders, writs, injunctions and decrees applicable to it or to its
business or property, except in such instances in which (a) such requirement of Law or order, writ,
injunction or decree is being contested in good faith by appropriate proceedings diligently
conducted or (b) the failure to comply therewith would not reasonably be expected to have a
Material Adverse Effect.

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     7.6 Use of Proceeds. Borrower shall use the proceeds of the Loans solely for (i) facilitating
the acquisition of Units by PLD International LLC and (ii) paying the costs and expenses incurred
in connection therewith.

ARTICLE VIII.

NEGATIVE COVENANTS

     So long as any Lender shall have any Commitment hereunder or any Loan or other Obligation
shall remain unpaid or unsatisfied:

     8.1 Fundamental Changes.

          8.1.1 Mergers; Consolidations; Disposal of Assets; Etc. Borrower shall not merge,
dissolve, liquidate, consolidate with or into another Person, except that Borrower may merge or
consolidate with any subsidiary of the Primary Operating Company so long as (a) no Default exists
or would result therefrom; and (b) either (i) Borrower is the continuing or surviving Person or
(ii) the surviving Person, which shall be a Person organized under the laws of the United States,
any State thereof or the District of Columbia and a wholly owned subsidiary of the Public Company,
assumes Borrower’s obligations hereunder, and each Guarantor confirms the effectiveness of its
Parent Guaranty, in each case pursuant to documentation reasonably satisfactory to Administrative
Agent and subject to completion by the Administrative Agent and the Lenders of “know your customer”
checks with respect to such Person.

          8.1.2 Restriction on Amendments. Borrower shall not amend or modify any provision of
its Organization Documents in a manner that would reasonably be expected to adversely affect the
Credit Parties in any material respect.

     8.2 Change in Nature of Business. Borrower shall not engage in any material line of business
substantially different from those lines of business conducted by Borrower on the date hereof or
any business substantially related or incidental thereto.

     8.3 Amendment to Tender Offer Documents. Borrower shall not amend, or cause or permit the
amendment of, any Tender Offer Document in a manner that would reasonably be expected to adversely
affect the Credit Parties in any material respect.

ARTICLE IX.

EVENTS OF DEFAULT AND REMEDIES

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

          9.1.1 Non-Payment. Borrower fails to pay (a) when and as required to be paid herein,
any amount of principal of any Loan, (b) within three Business Days after the same becomes due, any
interest on any Loan or any fee payable hereunder or (c) within five Business Days after the same
becomes due, any other amount payable hereunder or under any other Loan Document.

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          9.1.2 Specific Covenants. Borrower fails to perform or observe any term, covenant or
agreement contained in Section 7.4 (solely with respect to the Borrower’s existence),
Section 7.6 or Article VIII;

          9.1.3 Other Defaults. Borrower fails to perform or observe any other covenant or
agreement (not specified in Section 9.1.1or 9.1.2) contained herein and such
failure continues for 30 days after the first to occur of (a) a Responsible Officer of Borrower
obtaining knowledge of such failure or (b) Borrower’s receipt of notice from Administrative Agent
of such failure; provided that if such failure is of such a nature that can be cured but
cannot with reasonable effort be completely cured within 30 days, then such 30 day period shall be
extended for such additional period of time (not exceeding 90 additional days) as may be reasonably
necessary to cure such failure so long as Borrower commences such cure within such 30 day period
and diligently prosecutes same until completion.

          9.1.4 Representations and Warranties. Any representation, warranty, certification or
statement of fact made or deemed made by or on behalf of any Obligor herein, in any other Loan
Document, or in any document delivered in connection herewith or therewith shall be incorrect or
misleading in any material respect when made or deemed made.

          9.1.5 Insolvency Proceedings, Etc. Borrower institutes or consents to the institution
of any proceeding under any Debtor Relief Law, or makes an assignment for the benefit of creditors;
or applies for or consents to the appointment of any receiver, trustee, custodian, conservator,
liquidator, rehabilitator or similar officer for it or for all or any material part of its
property; or any receiver, trustee, custodian, conservator, liquidator, rehabilitator or similar
officer is appointed without the application or consent of such Person and the appointment
continues undischarged or unstayed for sixty (60) calendar days; or any proceeding under any Debtor
Relief Law relating to Borrower or to all or any material part of its property is instituted
without the consent of Borrower and continues undismissed or unstayed for sixty (60) calendar days,
or an order for relief is entered in any such proceeding.

          9.1.6 Invalidity of Loan Documents. Any provision of any Loan Document, at any time
after its execution and delivery and for any reason other than as expressly permitted hereunder or
thereunder or satisfaction in full of all the Obligations, ceases to be in full force and effect;
or any Obligor contests in any manner the validity or enforceability of any provision of any Loan
Document; or any Obligor denies that it has any or further Liability or obligation under any Loan
Document, or purports to revoke, terminate, repudiate, or rescind any provision of any Loan
Document.

          9.1.7 Guarantor. Any Person that is identified as a “Guarantor” as defined in the
definition thereof shall fail to issue a Parent Guaranty on a timely basis.

          9.1.8 Change of Control. A Change of Control occurs.

          9.1.9 Guarantor Defaults. Any Guarantor shall (i) fail to comply with any covenant
set forth in Section 12.5, 12.10, 13.2, 13.5 or 13.10 of the Global Agreement (or, if applicable,
the corresponding provisions of any subsequent Syndicated Agreement) as incorporated into a Parent
Guaranty by reference; (ii) fail to comply with any other covenant of

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the Syndicated Agreement that is incorporated into a Parent Guaranty by reference and such
failure, if capable of remedy, is not remedied within 30 days after the earlier of (a) the
Guarantors obtaining knowledge thereof and (b) Administrative Agent giving notice thereof to the
Guarantors.

          9.1.10 Events of Default under Syndicated Agreement. Any “Event of Default” under and
as defined in the Global Agreement (or, if applicable, a corresponding event under any subsequent
Syndicated Agreement) shall occur and be continuing (or, if no Syndicated Agreement is currently in
effect, any event that would have been an “Event of Default” as defined in the Syndicated Agreement
most recently in effect shall occur and be continuing).

     9.2 Remedies Upon Event of Default. If any Event of Default occurs and is continuing,
Administrative Agent shall, at the request of, or may, with the consent of, Required Lenders, take
any or all of the following actions:

     (a) if such Event of Default is a Specified Event of Default, declare the commitment of
each Lender to make Loans to be terminated, whereupon such commitments shall be terminated;

     (b) declare the unpaid principal amount of all outstanding Loans, all interest accrued
and unpaid thereon, and all other amounts owing or payable hereunder or under any other Loan
Document to be immediately due and payable, without presentment, demand, protest or other
notice of any kind, all of which are hereby expressly waived by Borrower; and

     (c) exercise on behalf of itself and Lenders all rights and remedies available to it
and Lenders under the Loan Documents;

provided that upon the occurrence of an actual or deemed entry of an order for relief with
respect to Borrower under any Debtor Relief Law, the obligation of each Lender to make Loans shall
automatically terminate and the unpaid principal amount of all outstanding Loans and all interest
and other amounts as aforesaid shall automatically become due and payable, in each case without
further act of Administrative Agent or any Lender.

     9.3 Application of Funds. After the exercise of remedies provided for in Section 9.2
(or after the Loans have automatically become immediately due and payable as set forth in the
proviso to Section 9.2), any amounts received on account of the Obligations shall be
applied by Administrative Agent in the following order:

First, to payment of that portion of the Obligations constituting fees, indemnities,
expenses and other amounts (including fees, charges and disbursements of counsel to
Administrative Agent and amounts payable under Article IV) payable to Administrative
Agent in its capacity as such;

Second, to payment of that portion of the Obligations constituting fees, indemnities
and other amounts (other than principal and interest) payable to Lenders (including fees,
charges and disbursements of counsel to the respective Lenders (including fees and time

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charges for attorneys who may be employees of any Lender) and amounts payable under
Article IV), ratably among them in proportion to the respective amounts described in
this clause Second payable to them;

Third, to payment of that portion of the Obligations constituting accrued and unpaid
interest on the Loans and other Obligations, ratably among Lenders in proportion to the
respective amounts described in this clause Third payable to them;

Fourth, to payment of that portion of the Obligations constituting unpaid principal
of the Loans ratably among Lenders in proportion to the respective amounts described in this
clause Fourth held by them; and

Last, the balance, if any, after all outstanding Obligations have been indefeasibly
paid in full, to Borrower or as otherwise required by Law;

provided that, so long as no Event of Default exists under Section 9.1.1, no amount
shall be applied in a manner that results in an Event of Default under Section 9.1.1 if
such payment could be applied in a manner that would not result in such an Event of Default.

ARTICLE X.

ADMINISTRATIVE AGENT

     10.1 Appointment and Authority. Each Lender hereby irrevocably appoints J.P. Morgan Europe
Limited to act on its behalf as Administrative Agent under the Loan Documents and authorizes
Administrative Agent to take such actions on its behalf and to exercise such powers as are
delegated to Administrative Agent, by the terms hereof or thereof, together with such actions and
powers as are reasonably incidental thereto. The provisions of this Article are solely for the
benefit of Administrative Agent and Lenders, and Borrower shall not have any rights as a third
party beneficiary of any of such provisions.

     10.2 Rights as a Lender. Any Person serving as Administrative Agent hereunder or under the
Loan Documents shall have the same rights and powers in its capacity as a Lender as any other
Lender and may exercise the same as though it were not Administrative Agent and the term “Lender”
or “Lenders” shall, unless otherwise expressly indicated or the context otherwise requires, include
each Person serving as Administrative Agent hereunder or under the Loan Documents in its individual
capacity, and each such Person and its Affiliates may accept deposits from, lend money to, act as
the financial advisor or in any other advisory capacity for and generally engage in any kind of
business with Borrower and its Affiliates as if such Person were not Administrative Agent hereunder
or under the Loan Documents and without any duty to account therefor to Lenders.

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

     (a) be subject to any fiduciary or other implied duties, regardless of whether a
Default has occurred and is continuing;

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

     (c) except as expressly set forth herein and in the other Loan Documents, have any duty
to disclose, or be liable for failure to disclose, any information relating to Borrower or
any of its Affiliates that is communicated to or obtained by Administrative Agent or any of
its Affiliates.

     Administrative Agent shall not be liable for any action taken or not taken by it (i) with the
consent or at the request of the Required Lenders (or such other number, percentage or group of
Lenders as shall be necessary, or as Administrative Agent shall believe in good faith shall be
necessary, under the circumstances as provided in Sections 9.2 and 11.1) or (ii) in
the absence of its own gross negligence or willful misconduct. Administrative Agent shall not be
deemed to have knowledge of any Default unless and until notice describing such Default is given to
Administrative Agent by Borrower or a Lender.

     Administrative Agent shall not be responsible for or have any duty to ascertain or inquire
into (1) any statement, warranty or representation made in or in connection with this Agreement or
any other Loan Document (other than its own statements, warranties and representations), (2) the
contents of any certificate, report or other document delivered hereunder or thereunder or in
connection herewith or therewith, (3) the performance or observance of any of the covenants,
agreements or other terms or conditions set forth herein or therein or the occurrence of any
Default, (4) the validity, enforceability, effectiveness or genuineness of this Agreement, any
other Loan Document or any other agreement, instrument or document, or (5) the satisfaction of any
condition set forth in Article V or elsewhere herein, other than to confirm receipt of
items expressly required to be delivered to Administrative Agent.

     10.4 Reliance by Administrative Agent. Administrative Agent shall be entitled to rely upon,
and shall not incur any liability for relying upon, any notice, request, certificate, consent,
statement, instrument, document or other writing (including any electronic message, Internet or
intranet website posting or other distribution) believed by it to be genuine and to have been
signed, sent or otherwise authenticated by the proper Person. Administrative Agent also may rely
upon any statement made to it orally or by telephone and believed by it to have been made by the
proper Person, and shall not incur any liability for relying thereon. In determining compliance
with any condition hereunder to the making of a Loan that by its terms must be fulfilled to the
satisfaction of a Lender, Administrative Agent may presume that such condition is satisfactory to
such Lender unless Administrative Agent shall have received notice to the contrary from such Lender
prior to the making of such Loan. Administrative Agent may consult with legal counsel (who may be
counsel for Borrower or any Guarantor), independent

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accountants and other experts selected by it, and shall not be liable for any action taken or
not taken by it in accordance with the advice of any such counsel, accountants or experts.

     10.5 Delegation of Duties. Administrative Agent may perform any and all of its duties and
exercise its rights and powers hereunder or under any other Loan Document by or through any one or
more sub-agents appointed by Administrative Agent. Administrative Agent and any such sub-agent may
perform any and all of its duties and exercise its rights and powers by or through its Related
Parties. The exculpatory provisions of this Article shall apply to any such sub-agent and to the
Related Parties of Administrative Agent and any such sub-agent, and shall apply to their respective
activities in connection with the syndication of the credit facility provided for herein as well as
activities as Administrative Agent.

     10.6 Resignation of Administrative Agent. Administrative Agent may at any time give notice of
its resignation to Lenders and Borrower. Upon receipt of any such notice of resignation, Required
Lenders shall have the right, in consultation with Borrower, to appoint a successor, which shall be
a bank with an office in England, or an Affiliate of a bank with an office in England. If no such
successor shall have been so appointed by Required Lenders and shall have accepted such appointment
within 30 days after retiring Administrative Agent gives notice of its resignation, then retiring
Administrative Agent may, on behalf of Lenders, appoint a successor Administrative Agent meeting
the qualifications set forth above; provided that if Administrative Agent shall notify
Borrower and Lenders that no qualifying Person has accepted such appointment, then such resignation
shall nonetheless become effective in accordance with such notice and (a) retiring Administrative
Agent shall be discharged from its duties and obligations hereunder and under the other Loan
Documents (except that in the case of any collateral security held by Administrative Agent on
behalf of Lenders under the Loan Documents, the retiring Administrative Agent shall continue to
hold such collateral security until such time as a successor Administrative Agent is appointed) and
(b) all payments, communications and determinations provided to be made by, to or through
Administrative Agent shall instead be made by or to each Lender directly, until such time as
Required Lenders appoint a successor Administrative Agent as provided for above in this Section.
Upon the acceptance of a successor’s appointment as Administrative Agent hereunder, such successor
shall succeed to and become vested with all of the rights, powers, privileges and duties of the
retiring (or retired) Administrative Agent, and the retiring Administrative Agent shall be
discharged from all of its duties and obligations hereunder or under the other Loan Documents (if
not already discharged therefrom as provided above in this Section). The fees payable by Borrower
to a successor Administrative Agent shall be the same as (but without duplication of) those payable
to its predecessor unless otherwise agreed between Borrower and such successor. After the retiring
Administrative Agent’s resignation hereunder and under the other Loan Documents, the provisions of
this Article and Section 11.4 shall continue in effect for the benefit of such retiring
Administrative Agent, its sub-agents and their respective Related Parties in respect of any actions
taken or omitted to be taken by any of them while the retiring Administrative Agent was acting as
Administrative Agent.

     10.7 Non-Reliance on Administrative Agent and Other Lenders. Each Lender acknowledges that it
has, independently and without reliance upon Administrative Agent or any other Lender or any of
their Related Parties and based on such documents and information as it

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

     10.8 No Other Duties, Etc. Anything herein to the contrary notwithstanding, the Arranger
shall not have any powers, duties or responsibilities under this Agreement or any of the other Loan
Documents, except in its capacity as Arranger and as a Lender hereunder.

     10.9 Administrative Agent May File Proofs of Claim. In case of the pendency of any
receivership, insolvency, liquidation, bankruptcy, reorganization, arrangement, adjustment,
composition or other judicial proceeding relative to Borrower, Administrative Agent (irrespective
of whether the principal of any Loan shall then be due and payable as herein expressed or by
declaration or otherwise and irrespective of whether Administrative Agent shall have made any
demand on Borrower) shall be entitled and empowered, by intervention in such proceeding or
otherwise:

     (a) to file and prove a claim for the whole amount of the principal and interest owing
and unpaid in respect of the Loans, and all other Obligations that are owing and unpaid and
to file such other documents as may be necessary or advisable in order to have the claims of
Lenders and Administrative Agent (including any claim for the reasonable and documented
compensation, expenses, disbursements and advances of Lenders and Administrative Agent and
their respective agents and counsel and all other amounts due Lenders and Administrative
Agent under Sections 3.5 and 11.4) allowed in such judicial proceeding; and

     (b) to collect and receive any monies or other property payable or deliverable on any
such claims and to distribute the same;

and any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official
in any such judicial proceeding is hereby authorized by each Lender to make such payments to
Administrative Agent and, in the event that Administrative Agent shall consent to the making of
such payments directly to Lenders, to pay to Administrative Agent any amount due to Administrative
Agent under Sections 3.5 and 11.4.

     Nothing contained herein shall be deemed to authorize Administrative Agent to authorize or
consent to or accept or adopt on behalf of any Lender any plan of reorganization, arrangement,
adjustment or composition affecting the Obligations or the rights of any Lender or to authorize
Administrative Agent to vote in respect of the claim of any Lender in any such proceeding.

ARTICLE XI.

MISCELLANEOUS

     11.1 Amendments, Etc. Except as otherwise expressly provided herein, no amendment or waiver
of any provision of this Agreement or any other Loan Document, and no

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consent to any departure by Borrower therefrom, shall be effective unless in writing signed by
Required Lenders and Borrower, and acknowledged by Administrative Agent, and each such waiver or
consent shall be effective only in the specific instance and for the specific purpose for which
given; provided that no amendment, waiver or consent shall:

     (a) extend or increase the Commitment of any Lender (or reinstate any Commitment of any
Lender terminated pursuant to Section 9.2) without the written consent of such
Lender;

     (b) postpone any date fixed by this Agreement or any other Loan Document for any
scheduled payment of principal, interest, fees or other amounts due to any Lender hereunder
or under any other Loan Document without the written consent of each Lender directly
affected thereby;

     (c) reduce the principal of, or the rate of interest specified herein on, any Loan, or
any fees or other amounts payable hereunder or under any other Loan Document, without the
written consent of each Lender directly affected thereby and/or Administrative Agent, if
Administrative Agent would be directly affected thereby; provided that only the
consent of Required Lenders shall be necessary to amend the definition of “Default Rate” or
to waive any obligation of Borrower to pay interest at the Default Rate;

     (d) change Section 3.9 or Section 9.3 in a manner that would alter the
pro rata sharing of payments required thereby without the written consent of each affected
Lender;

     (e) change any provision of this Section 11.1, the definition of “Required
Lenders” or any other provision hereof specifying the number or percentage of the aggregate
Lenders required to amend, waive or otherwise modify any rights hereunder or make any
determination or grant any consent hereunder without the written consent of each Lender;

     (f) impose any greater restriction on the ability of any Lender to assign any of its
rights or obligations hereunder without the written consent of each Lender; or

     (g) authorize Administrative Agent to release any Guarantor from a Parent Guaranty or
any of its obligations thereunder without the written consent of each Lender;

and provided, further, that no amendment, waiver or consent shall, unless in
writing and signed by Administrative Agent in addition to Lenders required above, affect the rights
or duties of Administrative Agent under this Agreement or any other Loan Document. Notwithstanding
anything to the contrary herein, no Defaulting Lender shall have any right to approve or disapprove
any amendment, waiver or consent hereunder, except that the Commitment of such Lender may not be
increased or extended without the consent of such Lender.

Notwithstanding anything set forth herein to the contrary, in the event the representations and
warranties, covenants and/or events of default (including, in each case, any related definitions)
in

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the Syndicated Agreement are in any manner revised after the Closing Date (including in connection
with a refinancing of the Syndicated Agreement), the representations and warranties set forth in
Article VI, the affirmative covenants set forth in Article VII, the negative covenants set forth in
Article VIII and/or the events of default set forth in Article IX (and, in each case, the related
definitions), as applicable, set forth herein shall automatically be amended to conform with the
corresponding terms of the Syndicated Agreement; provided that no amendment made pursuant
to this paragraph that would result in the Lenders being treated differently than the lenders under
the Syndicated Agreement shall be made pursuant to this paragraph without the prior written consent
of the Required Lenders.

     11.2 Notices; Effectiveness; Electronic Communication.

          11.2.1 Notices Generally. Except as provided in Section 11.2.2 below, all
notices and other communications provided for herein shall be in writing and shall be delivered by
hand or overnight courier service, mailed by certified or registered mail or sent by facsimile as
follows:

     (a) if to Borrower or Administrative Agent, to the address, facsimile number or
electronic mail address specified for such Person on Schedule 11.2; and

     (b) if to any other Lender, to the address, facsimile number or electronic mail address
specified in its Administrative Questionnaire.

     Notices sent by hand or overnight courier service, or mailed by certified or registered mail,
shall be deemed to have been given when received; notices sent by facsimile shall be deemed to have
been given when sent (except that, if not given during normal business hours for the recipient,
shall be deemed to have been given at the opening of business on the next business day for the
recipient). Notices delivered through electronic communications to the extent provided in
Section 11.2.2, shall be effective as provided in such Section 11.2.2.

          11.2.2 Electronic Communications. Notices and other communications to Lenders
hereunder may be delivered or furnished by electronic communication (including e-mail and Internet
or intranet websites) pursuant to procedures approved by Administrative Agent; provided
that the foregoing shall not apply to notices to any Lender pursuant to Article II if such
Lender has notified Administrative Agent that it is incapable of receiving notices under such
Article by electronic communication. Administrative Agent or Borrower may, in its discretion,
agree to accept notices and other communications to it hereunder by electronic communications
pursuant to procedures approved by it; provided that approval of such procedures may be
limited to particular notices or communications.

     Unless Administrative Agent otherwise prescribes, (a) notices and other communications sent to
an e-mail address shall be deemed received upon the sender’s receipt of an acknowledgement from the
intended recipient (such as by the “return receipt requested” function, as available, return e-mail
or other written acknowledgement); provided that if such notice or other communication is not sent
during the normal business hours of the recipient, such notice or communication shall be deemed to
have been sent at the opening of business on the next business day for the recipient, and (b)
notices or communications posted to an Internet or

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intranet website shall be deemed received upon the deemed receipt by the intended recipient at
its e-mail address as described in the foregoing clause (a) of notification that such
notice or communication is available and identifying the website address therefor.

          11.2.3 The Platform. THE PLATFORM IS PROVIDED “AS IS” AND “AS AVAILABLE.” THE AGENT
PARTIES (AS DEFINED BELOW) DO NOT WARRANT THE ACCURACY OR COMPLETENESS OF BORROWER MATERIALS OR THE
ADEQUACY OF THE PLATFORM, AND EXPRESSLY DISCLAIM LIABILITY FOR ERRORS IN OR OMISSIONS FROM BORROWER
MATERIALS. NO WARRANTY OF ANY KIND, EXPRESS, IMPLIED OR STATUTORY, INCLUDING ANY WARRANTY OF
MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT OF THIRD PARTY RIGHTS OR
FREEDOM FROM VIRUSES OR OTHER CODE DEFECTS, IS MADE BY ANY AGENT PARTY IN CONNECTION WITH THE
BORROWER MATERIALS OR THE PLATFORM. In no event shall Administrative Agent or any of its Related
Parties (collectively, the “Agent Parties”) have any liability to Borrower, any Lender or
any other Person for losses, claims, damages, liabilities or expenses of any kind (whether in tort,
contract or otherwise) arising out of Borrower’s or Administrative Agent’s transmission of Borrower
Materials through the Internet, except to the extent that such losses, claims, damages, liabilities
or expenses are determined by a court of competent jurisdiction by a final and nonappealable
judgment to have resulted from the gross negligence or willful misconduct of such Agent Party;
provided that in no event shall any Agent Party have any liability to Borrower, any Lender,
or any other Person for indirect, special, incidental, consequential or punitive damages (as
opposed to direct or actual damages).

          11.2.4 Change of Address, Etc. Borrower and Administrative Agent may change its
address, facsimile number and/or electronic mail address for notices and other communications
hereunder by notice to the other parties hereto. Each other Lender may change its address,
facsimile number and/or electronic mail address for notices and other communications hereunder by
notice to Borrower and Administrative Agent. In addition, each Lender agrees to notify
Administrative Agent from time to time to ensure that Administrative Agent has on record (a) an
effective address, contact name, telephone number, facsimile number and electronic mail address to
which notices and other communications may be sent and (b) accurate wire instructions for such
Lender. Notwithstanding the foregoing, Administrative Agent shall not change the location of its
payment or funding office if such change would result in increased costs to Borrower, unless
required by applicable Laws.

          11.2.5 Reliance by Administrative Agent and Lenders. Administrative Agent and Lenders
shall be entitled to rely and act upon any notice purportedly given by or on behalf of Borrower
even if (a) such notice was not made in a manner specified herein, was incomplete or was not
preceded or followed by any other form of notice specified herein, or (b) the terms thereof, as
understood by the recipient, varied from any confirmation thereof. Borrower shall indemnify
Administrative Agent, each Lender and the Related Parties of each of them from all losses,
liabilities and reasonable and documented costs and expenses resulting from the reliance by such
Person on any notice purportedly given by or on behalf of Borrower. All telephonic communications
with Administrative Agent may be recorded by Administrative Agent, and each of the parties hereto
hereby consents to such recording.

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

     11.4 Expenses; Indemnity; Damage Waiver.

          11.4.1 Costs and Expenses. Borrower shall pay (a) all reasonable and documented
out-of-pocket expenses incurred by Administrative Agent and its Affiliates (including the
reasonable and documented fees, charges and disbursements of counsel for Administrative Agent) in
connection with (i) the syndication of the credit facility provided for herein and the preparation,
negotiation, execution, delivery and administration of this Agreement and the other Loan Documents
and (ii) any amendments, modifications or waivers of the provisions hereof or thereof (whether or
not the transactions contemplated hereby or thereby shall be consummated); provided that
Borrower shall have no liability under clause (i) for any fees, charges, or disbursements
of any counsel other than Cravath, Swaine & Moore LLP and one local counsel in each relevant
jurisdiction (including Luxembourg and the Netherlands), and any other counsel selected by
Administrative Agent and approved by Borrower (such approval not to be unreasonably withheld or
delayed); and (b) all reasonable and documented out-of-pocket expenses incurred by Administrative
Agent or any Lender (including the reasonable and documented fees, charges and disbursements of any
counsel for Administrative Agent or any Lender) in connection with the enforcement or protection of
its rights (i) in connection with this Agreement and the other Loan Documents, including its rights
under this Section, or (ii) in connection with the Loans hereunder, including all reasonable and
documented out-of-pocket expenses incurred during any workout, restructuring or negotiations
arising hereunder.

          11.4.2 Indemnification by Borrower. Borrower shall indemnify Administrative Agent,
Arranger, each Lender, and each Related Party of any of the foregoing Persons (each such Person
being called an “Indemnitee”) against, and hold each Indemnitee harmless from, any and all
losses, claims, damages, liabilities and reasonable and documented expenses (including the
reasonable and documented fees, charges and disbursements of any counsel for any Indemnitee), and
shall indemnify and hold harmless each Indemnitee from all reasonable fees and time charges and
disbursements for attorneys who may be employees of any Indemnitee, incurred by any Indemnitee or
asserted against any Indemnitee by any third party or by Borrower or any of its Affiliates arising
out of, in connection with, or as a result of (a) the execution or delivery of this Agreement, any
other Loan Document or any agreement or instrument contemplated hereby or thereby, the performance
by the parties hereto of their respective obligations hereunder or thereunder, the consummation of
the transactions contemplated hereby or thereby, or, in the case of Administrative Agent (and any
sub-agent thereof) and its Related Parties only, the administration of this Agreement and the other
Loan Documents, (b) any Loan or the use or proposed use of the proceeds therefrom, (c) any actual
or alleged presence or release of Hazardous Materials on or from any property owned or operated by
the Public Company,

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Borrower or any of their respective Consolidated Subsidiaries, or any Environmental Liability
related in any way to the Public Company, Borrower or any of their respective Consolidated
Subsidiaries, or (d) any actual or prospective claim, litigation, investigation or proceeding
relating to any of the foregoing, whether based on contract, tort or any other theory, whether
brought by a third party or by Borrower or any of its Affiliates, and regardless of whether any
Indemnitee is a party thereto, in all cases whether or not caused by or arising, in whole or in
part, out of the comparative, contributory or sole negligence of the Indemnitee; provided
that such indemnity shall not, as to any Indemnitee, be available to the extent that such losses,
claims, damages, liabilities or related expenses (i) are determined by a court of competent
jurisdiction by final and nonappealable judgment to have resulted from the gross negligence or
willful misconduct of such Indemnitee or any of its Related Parties or (ii) result from a claim
brought by Borrower against an Indemnitee for breach in bad faith of such Indemnitee’s obligations
hereunder or under any other Loan Document, if Borrower has obtained a final and nonappealable
judgment in its favor on such claim as determined by a court of competent jurisdiction.

          11.4.3 Reimbursement by Lenders. To the extent that Borrower for any reason fails to
indefeasibly pay any amount required under Section 11.4.1 or 11.4.2 to be paid by
it to Administrative Agent (or any sub-agent thereof) or any Related Party, each Lender severally
agrees to pay to Administrative Agent (or any such sub-agent) or such Related Party, as the case
may be, such Lender’s Percentage (determined as of the time that the applicable unreimbursed
expense or indemnity payment is sought) of such unpaid amount, provided that the
unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case
may be, was incurred by or asserted against Administrative Agent (or any such sub-agent) in its
capacity as such, or against any Related Party of any of the foregoing acting for Administrative
Agent (or any such sub-agent) in connection with such capacity. The obligations of Lenders under
this Section 11.4.3 are subject to the provisions of Section 3.9.

          11.4.4 Waiver of Consequential Damages, Etc. To the fullest extent permitted by
applicable law, Borrower shall not assert, and Borrower hereby waives, any claim against any
Indemnitee, on any theory of liability, for special, indirect, consequential or punitive damages
(as opposed to direct or actual damages) arising out of, in connection with, or as a result of this
Agreement, any other Loan Document or any agreement or instrument contemplated hereby, the
transactions contemplated hereby or thereby, any Loan, or the use of the proceeds thereof. No
Indemnitee shall be liable for any damages arising from the use by unintended recipients of any
information or other materials distributed by it through telecommunications, electronic or other
information transmission systems in connection with this Agreement or the other Loan Documents or
the transactions contemplated hereby or thereby except to the extent that such damages are
determined by a court of competent jurisdiction by final and non-appealable judgment to have
resulted from the gross negligence or willful misconduct of such Indemnitee.

          11.4.5 Payments. All amounts due under this Section shall be payable not later than
10 Business Days after demand therefor.

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          11.4.6 Survival. The agreements in this Section shall survive the resignation of
Administrative Agent, the replacement of any Lender, the termination of the Aggregate Commitments
and the repayment, satisfaction or discharge of all other Obligations.

     11.5 Payments Set Aside. To the extent that any payment by or on behalf of Borrower is made
to Administrative Agent or any Lender, or Administrative Agent or any Lender exercises its right of
setoff, and such payment or the proceeds of such setoff or any part thereof is subsequently
invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant
to any settlement entered into by Administrative Agent or such Lender in its discretion) to be
repaid to a trustee, receiver or any other party, in connection with any proceeding under any
Debtor Relief Law or otherwise, then (a) to the extent of such recovery, the obligation or part
thereof originally intended to be satisfied shall be revived and continued in full force and effect
as if such payment had not been made or such setoff had not occurred, and (b) each applicable
Lender severally agrees to pay to Administrative Agent upon demand its applicable share (without
duplication) of any amount so recovered from or repaid by Administrative Agent, plus
interest thereon from the date of such demand to the date such payment is made at a rate per annum
equal to the applicable Overnight Rate from time to time in effect, in the applicable currency of
such recovery or payment. The obligations of Lenders under clause (b)of the preceding
sentence shall survive the payment in full of the Obligations and the termination of this
Agreement.

     11.6 Changes to Lenders.

          11.6.1 Assignments and Transfers by Lenders. Subject to this Section 11.6, a
Lender (the “Existing Lender”) may:

     (a) assign any of its rights, or

     (b) transfer by novation any of its rights and obligations,

     to an Eligible Assignee (the “New Lender”).

          11.6.2 Conditions of Assignment or Transfer.

     (a) Except in the case of an assignment of the entire remaining amount of the Existing
Lender’s Commitment and the Loans at the time owing to it or in the case of an assignment to
a Lender or an Affiliate of a Lender or an Approved Fund with respect to a Lender, the
aggregate Commitment or, if the Commitment is not then in effect, the principal outstanding
balance of the Loans of the Existing Lender subject to each such assignment, determined as
of the effective date of the assignment, shall not be less than €5,000,000, unless
Administrative Agent, and, so long as no Event of Default has occurred and is continuing,
Borrower otherwise consent (each such consent not to be unreasonably withheld or delayed).

     (b) An assignment will only be effective on:

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     (A) receipt by Administrative Agent of written confirmation from the
New Lender (in form and substance satisfactory to Administrative Agent) that
the New Lender will assume the same obligations to the other Credit Parties
as it would have been under if it was a Lender as at the date of this
Agreement; and

     (B) performance by Administrative Agent of all necessary “know your
customer” or other similar checks under all applicable laws and regulations
in relation to such assignment to a New Lender, the completion of which
Administrative Agent shall promptly notify to the Existing Lender and the
New Lender.

     (c) A transfer will only be effective if the procedure set out in Section
11.6.5 is complied with.

          11.6.3 Assignment or Transfer Fee. The Existing Lender shall, on the date upon which
an assignment or transfer takes effect, pay to Administrative Agent (for its own account) a fee in
accordance with Schedule 11.6, unless the New Lender is an Affiliate of such Existing
Lender.

          11.6.4 Limitation of Responsibility of Existing Lenders.

     (a) Unless expressly agreed to the contrary, an Existing Lender makes no representation
or warranty and assumes no responsibility to a New Lender for:

     (i) the legality, validity, effectiveness, adequacy or enforceability of the
Loan Documents or any other documents;

     (ii) the financial condition of any Obligor;

     (iii) the performance and observance by any Obligor of its Obligations under
the Loan Documents or any other documents; or

     (iv) the accuracy of any statements (whether written or oral) made in or in
connection with any Loan Document or any other document and any representations or
warranties implied by law are excluded.

     (b) Each New Lender confirms to the Existing Lender and the other Credit Parties that
it:

     (i) has made (and shall continue to make) its own independent investigation and
assessment of the financial condition and affairs of each Obligor and its related
entities in connection with its participation in this Agreement and has not relied
exclusively on any information provided to it by the Existing Lender in connection
with any Loan Document; and

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     (ii) will continue to make its own independent appraisal of the
creditworthiness of each Obligor and its related entities whilst any amount is or
may be outstanding under the Loan Documents or any Commitment is in force.

     (c) Nothing in any Loan Document obliges an Existing Lender to:

     (i) accept a re-transfer from a New Lender of any of the rights and obligations
assigned or transferred under this Section 11.6; or

     (ii) support any losses directly or indirectly incurred by the New Lender by
reason of the non-performance by each Obligor of its obligations under the Loan
Documents or otherwise.

          11.6.5 Procedure for Transfer.

     (a) Subject to the conditions set out in Section 11.6.2 a transfer is effected
in accordance with paragraph (c) below when Administrative Agent executes an
otherwise duly completed Transfer Certificate delivered to it by the Existing Lender and the
New Lender. Administrative Agent shall, subject to paragraph (b) below, as soon as
reasonably practicable after receipt by it of a duly completed Transfer Certificate
appearing on its face to comply with the terms of this Agreement and delivered in accordance
with the terms of this Agreement, execute that Transfer Certificate.

     (b) Administrative Agent shall only be obliged to execute a Transfer Certificate
delivered to it by the Existing Lender and the New Lender once it is satisfied it has
complied with all necessary “know your customer” or other similar checks under all
applicable laws and regulations in relation to the transfer to such New Lender.

     (c) On the Transfer Date:

     (A) to the extent that in the Transfer Certificate the Existing Lender
seeks to transfer by novation its rights and obligations under the Loan
Documents Borrower and the Existing Lender shall be released from further
obligations towards one another under the Loan Documents and their
respective rights against one another under the Loan Documents shall be
cancelled (being the “Discharged Rights and Obligations”);
provided that (i) such Existing Lender shall continue to be entitled
to the benefits of (and subject to the obligations and limitations of)
Article IV and Section 11.4 and to any fees payable hereunder that have
accrued for such Existing Lender’s account but have not yet been paid and
(ii) unless otherwise agreed by Borrower, such Existing Lender shall
continue to be obligated to pay to Borrower any amount required to be
refunded pursuant to Section 3.5.1;

     (B) Borrower and the New Lender shall assume obligations towards one
another and/or acquire rights against one another which differ from the
Discharged Rights and Obligations only insofar as Borrower and

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the New Lender have assumed and/or acquired the same in place of
Borrower and the Existing Lender;

     (C) Administrative Agent, the New Lender and other Lenders shall
acquire the same rights and assume the same obligations between themselves
as they would have acquired and assumed had the New Lender been an original
Lender under this Agreement with the rights and/or obligations acquired or
assumed by it as a result of the transfer and to that extent Administrative
Agent and the Existing Lender shall each be released from further
obligations to each other under the Loan Documents; and

     (D) the New Lender shall become a Party as a “Lender.”

          11.6.6 Copy of Transfer Certificate to Borrower. Administrative Agent shall, as soon
as reasonably practicable after it has executed a Transfer Certificate, send to Borrower a copy of
that Transfer Certificate.

          11.6.7 Disclosure of Information. Subject to the requirements of Section
11.7, any Lender may disclose to any of its Affiliates and any other Person:

     (a) to (or through) whom that Lender assigns or transfers (or may potentially assign or
transfer) all or any of its rights and obligations under this Agreement;

     (b) with (or through) whom that Lender enters into (or may potentially enter into) any
sub-participation in relation to, or any other transaction under which payments are to be
made by reference to, this Agreement or Borrower; or

     (c) to whom, and to the extent that, information is required to be disclosed by any
applicable law or regulation,

any information about Borrower and the Loan Documents as that Lender shall consider appropriate.

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

          11.6.9 Register. Administrative Agent shall maintain a copy of each Transfer
Certificate delivered to it and a register for the recordation of the names and addresses of
Lenders, and the Commitments of, and principal amounts of the Loans owing to, each Lender pursuant
to the terms hereof from time to time (each, a “Register”). The entries in each Register
shall be conclusive, and Borrower, Administrative Agent, and Lenders may treat each Person whose
name is recorded in a Register pursuant to the terms hereof as a Lender hereunder for all purposes
of this Agreement, notwithstanding notice to the contrary. Each Register shall be

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available for inspection by any party to this Agreement at any reasonable time and from time
to time upon reasonable prior notice.

          11.6.10 Participations. Any Lender may at any time, without the consent of, or notice
to, Borrower or Administrative Agent, sell participations to any Person (other than a natural
person or Borrower or any of Borrower’s Affiliates) (each, a “Participant”) in all or a
portion of such Lender’s rights and/or obligations under this Agreement (including all or a portion
of its Commitment and/or the Loans owing to it); provided that (a) such Lender’s
obligations under this Agreement shall remain unchanged, (b) such Lender shall remain solely
responsible to the other parties hereto for the performance of such obligations, and (c) Borrower,
Administrative Agent, and Lenders shall continue to deal solely and directly with such Lender in
connection with such Lender’s rights and obligations under this Agreement.

     Any agreement or instrument pursuant to which a Lender sells such a participation shall
provide that such Lender shall retain the sole right to enforce this Agreement and to approve any
amendment, modification or waiver of any provision of this Agreement; provided that such
agreement or instrument may provide that such Lender will not, without the consent of the
Participant, agree to any amendment, waiver or other modification described in the first proviso to
Section 11.1 that affects such Participant or to release any Guarantor under a Parent
Guaranty. Subject to Section 11.6.4, Borrower agrees that each Participant shall be
entitled to the benefits of (and subject to obligations under) Sections 4.1, 4.4,
and 4.5 to the same extent as if it were a Lender and had acquired its interest by
assignment or transfer pursuant to Section 11.6.2. To the extent permitted by law, each
Participant also shall be entitled to the benefits of Section 11.8 as though it were a
Lender, provided that such Participant agrees to be subject to Section 3.9 as
though it were a Lender.

          11.6.11 Limitation upon Participant Rights. A Participant shall not be entitled to
receive any greater payment under Section 4.1 or 4.4 than the applicable Lender
would have been entitled to receive with respect to the participation sold to such Participant,
unless the sale of the participation to such Participant is made with Borrower’s prior written
consent. A Participant that would be a Non-U.S. Lender if it were a Lender shall not be entitled
to the benefits of Section 4.1 unless Borrower is notified of the participation sold to
such Participant and such Participant agrees, for the benefit of Borrower, to comply with
Section 4.1.5 as though it were a Lender (it being understood that the documentation
required under Section 4.1.5 shall be delivered to the participating Lender).

     11.7 Treatment of Certain Information; Confidentiality. Each Credit Party agrees to maintain
the confidentiality of the Information (as defined below), except that Information may be disclosed
(a) to its Affiliates and to its and its Affiliates’ respective partners, directors, officers,
employees, agents, advisors and representatives (it being understood that the Persons to whom such
disclosure is made will be informed of the confidential nature of such Information and instructed
to keep such Information confidential), (b) to the extent requested by any regulatory authority
purporting to have jurisdiction over it (including any self-regulatory authority, such as the
National Association of Insurance Commissioners), (c) to the extent required by applicable Laws or
by any subpoena or similar legal process, (d) to any other Party, (e) in connection with the
exercise of any remedies hereunder or under any other Loan

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Document or any action or proceeding relating to this Agreement or any other Loan Document or
the enforcement of rights hereunder or thereunder, (f) subject to an agreement containing
provisions substantially the same as those of this Section, to (i) any actual or prospective
assignee of or Participant in any of its rights or obligations under this Agreement or (ii) any
actual or prospective counterparty (or its advisors) to any swap or derivative transaction relating
to Borrower and its obligations, (g) with the consent of Borrower, or (h) to the extent such
Information becomes publicly available other than as a result of a breach of this Section.

     For purposes of this Section, “Information” means all information received from
ProLogis, Borrower or any Consolidated Subsidiary relating to ProLogis, Borrower or any
Consolidated Subsidiary or any of their respective businesses, other than any such information that
is available to the applicable Credit Party on a nonconfidential basis from a source other than
Borrower or any Consolidated Subsidiary.

     Each Credit Party acknowledges that (A) the Information may include material non-public
information concerning ProLogis, Borrower or any Consolidated Subsidiary, as the case may be, (B)
it has developed compliance procedures regarding the use of material non-public information, and
(C) it will handle such material non-public information in accordance with applicable Law.

     11.8 Right of Setoff. If an Event of Default shall have occurred and be continuing, each
Lender and each of their respective Affiliates is hereby authorized at any time and from time to
time, after obtaining the prior written consent of Administrative Agent, to the fullest extent
permitted by applicable law, to set off and apply any and all deposits (general or special, time or
demand, provisional or final, in whatever currency) at any time held and other obligations (in
whatever currency) at any time owing by such Lender or such Affiliate to or for the credit or the
account of Borrower against any and all of the obligations of Borrower now or hereafter existing
under this Agreement or any other Loan Document to such Lender, irrespective of whether or not such
Lender shall have made any demand under this Agreement or any other Loan Document and although such
obligations of Borrower may be contingent or unmatured or are owed to a branch or office of such
Lender different from the branch or office holding such deposit or obligated on such indebtedness.
The rights of each Lender and their respective Affiliates under this Section are in addition to
other rights and remedies (including other rights of setoff) that such Lender or their respective
Affiliates may have. Each Lender agrees to notify Borrower and Administrative Agent promptly after
any such setoff and application, provided that the failure to give such notice shall not
affect the validity of such setoff and application.

     11.9 Interest Rate Limitation. Notwithstanding anything to the contrary contained in any Loan
Document, the interest paid or agreed to be paid under the Loan Documents shall not exceed the
maximum rate of non-usurious interest permitted by applicable Law (the “Maximum Rate”). If
Administrative Agent or any Lender shall receive interest in an amount that exceeds the Maximum
Rate, the excess interest shall be applied to the principal of the Loans or, if it exceeds such
unpaid principal, refunded to Borrower. In determining whether the interest contracted for,
charged, or received by Administrative Agent or a Lender exceeds the Maximum Rate, such Person may,
to the extent permitted by applicable Law, (a) characterize any payment

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that is not principal as an expense, fee, or premium rather than interest, (b) exclude
voluntary prepayments and the effects thereof, and (c) amortize, prorate, allocate, and spread in
equal or unequal parts the total amount of interest throughout the contemplated term of the
Obligations hereunder.

     11.10 Counterparts; Integration; Effectiveness. This Agreement may be executed in
counterparts (and by different parties hereto in different counterparts), each of which shall
constitute an original, but all of which when taken together shall constitute a single contract.
This Agreement and the other Loan Documents constitute the entire contract among the parties
relating to the subject matter hereof and supersede any and all previous agreements and
understandings, oral or written, relating to the subject matter hereof. Except as provided in
Section 5.1, this Agreement shall become effective when Administrative Agent shall have
received counterparts hereof that, when taken together, bear the signatures of each Party.
Delivery of an executed counterpart of a signature page of this Agreement by facsimile or
electronic mail shall be effective as delivery of a manually executed counterpart of this
Agreement.

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

     11.12 Replacement of Lenders. If any Lender requests compensation under Section 4.4,
or if Borrower is required to pay any additional amount to any Lender or any Governmental Authority
for the account of any Lender pursuant to Section 4.1, or if any Lender is a Defaulting
Lender or a Non-Consenting Lender, then Borrower may, at its sole expense and effort, upon notice
to such Lender and Administrative Agent, require such Lender to assign and transfer, without
recourse (in accordance with and subject to the restrictions contained in, and consents required
by, Section 11.6; provided that the written consent of such Lender shall not be required in
order to effect such assignment and transfer), all of its interests, rights and obligations under
this Agreement and the related Loan Documents to an assignee that shall assume such obligations
(which assignee may be another Lender, if a Lender accepts such assignment), provided that:

     (a) Borrower shall have paid to Administrative Agent the assignment fee specified in
Section 11.6.3;

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

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     (c) in the case of any such assignment resulting from a claim for compensation under
Section 4.4 or payments required to be made pursuant to Section 4.1, such
assignment will result in a reduction in such compensation or payments thereafter; and

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

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

     11.13 GOVERNING LAW; JURISDICTION; ETC.

          11.13.1 GOVERNING LAW. THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN
ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK.

          11.13.2 SUBMISSION TO JURISDICTION. EACH PARTY HERETO IRREVOCABLY AND UNCONDITIONALLY
SUBMITS, FOR ITSELF AND ITS PROPERTY, TO THE NONEXCLUSIVE JURISDICTION OF THE COURTS OF THE STATE
OF NEW YORK SITTING IN NEW YORK, NEW YORK AND OF THE UNITED STATES DISTRICT COURT OF THE SOUTHERN
DISTRICT OF NEW YORK, AND ANY APPELLATE COURT FROM ANY THEREOF, IN ANY ACTION OR PROCEEDING ARISING
OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT, OR FOR RECOGNITION OR ENFORCEMENT
OF ANY JUDGMENT, AND EACH PARTY HERETO IRREVOCABLY AND UNCONDITIONALLY AGREES THAT ALL CLAIMS IN
RESPECT OF ANY SUCH ACTION OR PROCEEDING MAY BE HEARD AND DETERMINED IN SUCH NEW YORK STATE COURT
OR IN SUCH FEDERAL COURT. EACH PARTY HERETO AGREES THAT A FINAL JUDGMENT IN ANY SUCH ACTION OR
PROCEEDING SHALL BE CONCLUSIVE AND MAY BE ENFORCED IN OTHER JURISDICTIONS BY SUIT ON THE JUDGMENT
OR IN ANY OTHER MANNER PROVIDED BY LAW. NOTHING IN THIS AGREEMENT OR IN ANY OTHER LOAN DOCUMENT
SHALL AFFECT ANY RIGHT THAT ANY CREDIT PARTY MAY OTHERWISE HAVE TO BRING ANY ACTION OR PROCEEDING
RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT AGAINST ANY LOAN PARTY OR ITS PROPERTY IN THE
COURTS OF ANY JURISDICTION.

          11.13.3 WAIVER OF VENUE. EACH PARTY HERETO IRREVOCABLY AND UNCONDITIONALLY WAIVES, TO
THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY OBJECTION THAT IT MAY NOW OR HEREAFTER HAVE TO
THE LAYING OF VENUE OF ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY
OTHER LOAN DOCUMENT IN ANY COURT REFERRED TO IN SECTION 11.13.2. EACH PARTY HERETO IRREVOCABLY
WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, THE DEFENSE OF AN INCONVENIENT FORUM TO
THE MAINTENANCE OF SUCH ACTION OR PROCEEDING IN ANY SUCH COURT.

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          11.13.4 SERVICE OF PROCESS. EACH PARTY HERETO IRREVOCABLY CONSENTS TO SERVICE OF
PROCESS IN THE MANNER PROVIDED FOR NOTICES IN SECTION 11.2. NOTHING IN THIS AGREEMENT WILL AFFECT
THE RIGHT OF ANY PARTY HERETO TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY APPLICABLE LAW.

          11.13.5 WAIVER OF JURY TRIAL. EACH PARTY HERETO IRREVOCABLY WAIVES, TO THE FULLEST
EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL
PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER LOAN
DOCUMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY
OTHER THEORY). EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY
OTHER PERSON HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PERSON WOULD NOT, IN THE
EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE
OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS
BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION.

     11.14 USA Patriot Act Notice. Each Lender that is subject to the Act (as defined below)
hereby notifies Borrower that pursuant to the requirements of the USA PATRIOT Act (Title III of
Pub. L. 107-56 (signed into law October 26, 2001)) (the “Act”), it is required to obtain,
verify and record information that identifies Borrower and each Guarantor, which information
includes the name and address of Borrower and each Guarantor and other information that will allow
such Lender to identify Borrower and each Guarantor in accordance with the Act.

     11.15 Know Your Customers.

          11.15.1 Borrower Information. If:

     (a) any Change in Law;

     (b) any change in the status of Borrower or any Guarantor after the date of this
Agreement; or

     (c) a proposed assignment or transfer by a Lender of any of its rights and obligations
under this Agreement to a party that is not a Lender prior to such assignment or transfer,

requires Administrative Agent or any Lender (or, in the case of paragraph (c) above, any
prospective new Lender) to comply with “know your customer” or similar identification procedures in
circumstances where the necessary information is not already available to it, Borrower shall
promptly upon the request of Administrative Agent or any Lender supply, or procure the supply of,
such documentation and other evidence as is reasonably requested by

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Administrative Agent (for itself or on behalf of any Lender) or such Lender (for itself or, in the
case of the event described in paragraph (c) above, on behalf of any prospective new
Lender) in order for Administrative Agent, such Lender or, in the case of the event described in
paragraph (c) above, such prospective new Lender to carry out and be satisfied it has
complied with all necessary “know your customer” or other similar checks under all applicable Laws
pursuant to the transactions contemplated in the Loan Documents.

          11.15.2 Lender Information. Each Lender shall promptly upon the request of
Administrative Agent supply, or procure the supply of, such documentation and other evidence as is
reasonably requested by Administrative Agent to carry out and be satisfied it has complied with all
necessary “know your customer” or other similar checks under all applicable Laws pursuant to the
transactions contemplated in the Loan Documents.

          11.15.3 Limitation on Assignments. Notwithstanding Section 11.6, an
assignment will only be effective on performance by Administrative Agent of all “know your
customer” or other checks relating to any Person that it is required to carry out in relation to
such assignment, the completion of which Administrative Agent shall promptly notify to the
assigning Lender and the applicable Eligible Assignee.

          11.15.4 Lender Responsibility. Nothing in this Agreement shall require Administrative
Agent or any Arranger to carry out any “know your customer” or other checks in relation to any
person on behalf of any Lender and each Lender confirms to Administrative Agent and each Arranger
that it is solely responsible for any such checks it is required to carry out and that it may not
rely on any statement in relation to such checks made by Administrative Agent or any Arranger.

     11.16 Time of the Essence. Time is of the essence of the Loan Documents.

     11.17 Judgment Currency. If, for the purposes of obtaining judgment in any court, it is
necessary to convert a sum due hereunder or any other Loan Document in one currency into another
currency, the rate of exchange used shall be that at which in accordance with normal banking
procedures Administrative Agent could purchase the first currency with such other currency on the
Business Day preceding that on which final judgment is given. The obligation of Borrower in
respect of any such sum due from it to any Credit Party hereunder or under the other Loan Documents
shall, notwithstanding any judgment in a currency (the “Judgment Currency”) other than that
in which such sum is denominated in accordance with the applicable provisions of this Agreement
(the “Agreement Currency”), be discharged only to the extent that on the Business Day
following receipt by Administrative Agent of any sum adjudged to be so due in the Judgment
Currency, Administrative Agent may in accordance with normal banking procedures purchase the
Agreement Currency with the Judgment Currency. If the amount of the Agreement Currency so
purchased is less than the sum originally due to the applicable Credit Party from Borrower in the
Agreement Currency, Borrower agrees, as a separate obligation and notwithstanding any such
judgment, to indemnify the applicable Credit Party against such loss. If the amount of the
Agreement Currency so purchased is greater than the sum originally due to the applicable Credit
Party in such currency, such Credit Party agrees to return the amount of any excess to Borrower (or
to any other Person who may be entitled thereto under applicable law).

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     11.18 Entire Agreement. THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS REPRESENT THE FINAL
AGREEMENT AMONG THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR
SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES. THERE ARE NO UNWRITTEN ORAL AGREEMENTS AMONG THE
PARTIES.

     11.19 No Fiduciary Duty. In connection with all aspects of each transaction contemplated
hereby, Borrower acknowledges and agrees, and acknowledges its respective Affiliates’
understanding, that: (a) the Aggregate Commitments provided for hereunder and any related arranging
or other services in connection therewith (including in connection with any amendment, waiver or
other modification hereof or of any other Loan Document) are an arm’s-length commercial transaction
between Borrower and certain of its Affiliates, on the one hand, and Administrative Agent, Arranger
and Lenders, on the other hand, and Borrower is capable of evaluating and understanding and
understands and accepts the terms, risks and conditions of the transactions contemplated hereby and
by the other Loan Documents (including any amendment, waiver or other modification hereof or
thereof); (b) in connection with the process leading to such transaction, Administrative Agent and
each Arranger is and has been acting solely as a principal and is not the financial advisor, agent
or fiduciary for Borrower or any of its Affiliates, stockholders, creditors or employees; (c)
neither Administrative Agent nor Arranger has assumed or will assume an advisory, agency or
fiduciary responsibility in favor of Borrower with respect to any of the transactions contemplated
hereby or the process leading thereto, including with respect to any amendment, waiver or other
modification hereof or of any other Loan Document (irrespective of whether Administrative Agent or
Arranger has advised or is currently advising Borrower or any of its Affiliates on other matters)
and neither Administrative Agent nor Arranger has any obligation to Borrower or any of its
Affiliates with respect to the transactions contemplated hereby except those obligations expressly
set forth herein and in the other Loan Documents; (d) Administrative Agent and Arranger and their
respective Affiliates may be engaged in a broad range of transactions that involve interests that
differ from those of Borrower and its Affiliates, and neither Administrative Agent or Arranger has
any obligation to disclose any of such interests by virtue of any advisory, agency or fiduciary
relationship; and (e) Administrative Agent and Arranger have not provided and will not provide any
legal, accounting, regulatory or tax advice with respect to any of the transactions contemplated
hereby (including any amendment, waiver or other modification hereof or of any other Loan Document)
and Borrower has consulted its own legal, accounting, regulatory and tax advisors to the extent it
has deemed appropriate. Borrower hereby waives and releases, to the fullest extent permitted by
law, any claim that it may have against Administrative Agent or Arranger with respect to any breach
or alleged breach of agency or fiduciary duty.

     11.20 Survival. All covenants, agreements, representations and warranties made by the
Obligors in the Loan Documents and in the certificates or other instruments delivered in connection
with or pursuant to any Loan Document shall be considered to have been relied upon by the other
parties hereto and shall survive the execution and delivery of the Loan Documents and the making of
any Loans, regardless of any investigation made by any such other party or on its behalf and
notwithstanding that Administrative Agent or any Lender may have had notice or knowledge of any
Default or incorrect representation or warranty at the time any credit is extended hereunder, and
shall continue in full force and effect as long as the principal of or any

Senior Bridge Loan Agreement
61

 

accrued interest on any Loan or any fee or any other amount payable under this Agreement is
outstanding and unpaid or any Letter of Credit is outstanding and so long as the Commitments have
not expired or terminated.

[Signature pages follow]

Senior Bridge Loan Agreement
62

 

	 	 	 	 	 	 	 
	 	 	PLD INTERNATIONAL INCORPORATED	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Phillip D. Joseph, Jr.	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	Phillip D. Joseph, Jr.	 	 
	 

	 	Title:
	 	Senior Vice President — Treasurer	 	 

 
1

 

	 	 	 	 	 	 	 
	 	 	J.P. MORGAN EUROPE LIMITED, as Administrative Agent	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Ching Loh	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	Ching Loh	 	 
	 

	 	Title:
	 	Associate	 	 
	 
	 	 	 	 	 	 
	 	 	JPMORGAN CHASE BANK, N.A., LONDON BRANCH, as a Lender	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Brendan M. Poe	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	Brendan M. Poe	 	 
	 

	 	Title:
	 	Vice President	 	 

 
2

 

SCHEDULE 1.1

PRICING SCHEDULE

The Applicable Margin and the Facility Fee Rate (the “pricing”) will be determined in accordance
with the table below based upon the Moody’s Rating, the S&P Rating and the Fitch Rating, as
follows: If ProLogis has ratings from all three Rating Agencies, then the pricing will be based on
the higher of the S&P Rating and the Moody’s Rating. If ProLogis has ratings from only two of such
Rating Agencies, then the pricing will be based upon the higher of such ratings. If ProLogis has
only one or none of such ratings, then the highest pricing (i.e., pricing Level IV) will apply.

	 	 	 	 	 	 	 
	Level	 	Ratings (Moody's/S&P/Fitch)	 	Applicable Margin	 	Facility Fee Rate
	I
	 	Baa1/BBB+/BBB+ or better
	 	1.25%
	 	0.25%
	II
	 	Baa2/BBB/BBB
	 	1.40%
	 	0.30%
	III
	 	Baa3/BBB-/BBB-
	 	1.65%
	 	0.35%
	IV
	 	Less than Baa3/BBB-/BBB-or not rated
	 	2.05%
	 	0.45%

In the event the Maturity Date is extended pursuant to Section 3.10, the Applicable Margin
set forth in the table above shall increase by (a) 0.50% effective as of the date that is six
months after the Closing Date and (b) an additional 0.50% effective as of the date that is nine
months after the Closing Date.

Any change in the Applicable Margin and the Facility Fee Rate resulting from a change in the
Moody’s Rating, the S&P Rating or the Fitch Rating shall be effective commencing on the fifth
Business Day following the earlier to occur of (a) Administrative Agent’s receipt of notice from
Borrower, as required in Section 7.2.2, of an applicable change in the such rating and (b)
Administrative Agent’s actual knowledge of an applicable change in such rating.

Notwithstanding anything set forth herein to the contrary, if the Global Agreement is refinanced in
connection with the Proposed Merger Transaction and the interest rate margin applicable to the debt
that is used to refinance the Global Agreement is different than the then-applicable Applicable
Margin, the Applicable Margin shall be automatically adjusted so that it equals the interest rate
margin applicable to such refinancing debt.

Schedule 1.1
1

 

SCHEDULE 1.2

MANDATORY COST FORMULAE

1. The Mandatory Cost is an addition to the interest rate to compensate Lenders for the cost of
compliance with:

     (a) the requirements of the Bank of England and/or the Financial Services Authority (or, in
either case, any other authority which replaces all or any of its functions) or

     (b) the requirements of the European Central Bank.

     2. On the first day of each Interest Period (or as soon as possible thereafter),
Administrative Agent shall calculate, as a percentage rate, a rate (the “Additional Cost
Rate”) for each Lender, in accordance with the paragraphs set out below. The Mandatory Cost
will be calculated by Administrative Agent as a weighted average of the Lenders’ Additional Cost
Rates (weighted in proportion to the percentage participation of each Lender in the relevant Loan)
and will be expressed as a percentage rate per annum.

     3. The Additional Cost Rate for any Lender lending from a Lending Office in a Participating
Member State will be the percentage notified by that Lender to Administrative Agent. This
percentage will be certified by that Lender in its notice to Administrative Agent to be its
reasonable determination of the cost (expressed as a percentage of that Lender’s participation in
all Loans made from that Lending Office) of complying with the minimum reserve requirements of the
European Central Bank in respect of loans made from that Lending Office.

     4. The Additional Cost Rate for any Lender lending from a Lending Office in the United Kingdom
will be calculated by Administrative Agent as follows:

     in relation to any Loan:

	 	 	 
	E x 0.01

	 	per cent. per annum.
	 
300
	 

Where:

“A” is the percentage of Eligible Liabilities (assuming these to be in excess of any stated
minimum) which that Lender is from time to time required to maintain as an interest free cash ratio
deposit with the Bank of England to comply with cash ratio requirements.

“B” is the percentage rate of interest (excluding the Applicable Margin, the Mandatory Cost and any
interest charged on overdue amounts pursuant to Section 3.4.2 of the Agreement, and, in the
case of interest (other than on overdue amounts) charged at the Default Rate, without counting any
increase in interest rate effected by the charging of the Default Rate) payable for the relevant
Interest Period of such Loan.

“C” is the percentage (if any) of Eligible Liabilities which that Lender is required from time to
time to maintain as interest bearing Special Deposits with the Bank of England.

Schedule 1.2
1

 

“D” is the percentage rate per annum payable by the Bank of England to Administrative Agent on
interest bearing Special Deposits.

“E” is designed to compensate Lenders for amounts payable under the Fees Rules and is calculated by
Administrative Agent as being the average of the most recent rates of charge supplied by the
Reference Banks to Administrative Agent pursuant to paragraph 7 below and expressed in
pounds per £1,000,000.

     5. For the purposes of this Schedule:

     “Eligible Liabilities” and “Special Deposits” have the meanings given to them
from time to time under or pursuant to the Bank of England Act 1998 or (as may be appropriate) by
the Bank of England;

     “Fees Rules” means the rules on periodic fees contained in the Financial Services
Authority Fees Manual or such other law or regulation as may be in force from time to time in
respect of the payment of fees for the acceptance of deposits;

     “Fee Tariffs” means the fee tariffs specified in the Fees Rules under column 1 of the
activity group A.1 Deposit acceptors (ignoring any minimum fee or zero rated fee required pursuant
to the Fees Rules but taking into account any applicable discount rate); and

     “Tariff Base” has the meaning given to it in, and will be calculated in accordance
with, the Fees Rules.

     6. In application of the above formulae, A, B, C and D will be included in the formulae as
percentages (i.e. 5 per cent. will be included in the formula as 5 and not as 0.05). A negative
result obtained by subtracting D from B shall be taken as zero. The resulting figures shall be
rounded to four decimal places.

     7. If requested by Administrative Agent, then each Reference Bank shall, as soon as
practicable after publication by the Financial Services Authority, supply to Administrative Agent,
the rate of charge payable by that Reference Bank to the Financial Services Authority pursuant to
the Fees Rules in respect of the relevant financial year of the Financial Services Authority
(calculated for this purpose by that Reference Bank as being the average of the Fee Tariffs
applicable to that Reference Bank for that financial year) and expressed in pounds per £1,000,000
of the Tariff Base of that Reference Bank.

     8. Each Lender shall supply any information required by Administrative Agent for the purpose
of calculating its Additional Cost Rate. In particular, but without limitation, each Lender shall
supply the following information on or prior to the date on which it becomes a Lender:

     (a) the jurisdiction of its Lending Office; and

     (b) any other information that Administrative Agent may reasonably require for such purpose.

Each Lender shall promptly notify Administrative Agent of any change to the information
provided by it pursuant to this paragraph.

     9. The percentages of each Lender for the purpose of A and C above and the rates of
charge of each Reference Bank for the purpose of E above shall be determined by Administrative
Agent based upon the information supplied to it pursuant to paragraphs 7 and 8
above and on the assumption that, unless a

Schedule 1.2
2

 

Lender notifies Administrative Agent to the contrary, each Lender’s obligations in relation to cash
ratio deposits and Special Deposits are the same as those of a typical bank from its jurisdiction
of incorporation with a Lending Office in the same jurisdiction as its Lending Office.

     10. Administrative Agent shall have no liability to any person if such determination results
in an Additional Cost Rate which over or under compensates any Lender and shall be entitled to
assume that the information provided by any Lender or Reference Bank pursuant to paragraphs
3, 7 and 8 above is true and correct in all respects.

     11. Administrative Agent shall distribute the additional amounts received as a result of the
Mandatory Cost to the Lenders on the basis of the Additional Cost Rate for each Lender based on the
information provided by each Lender and each Reference Bank pursuant to paragraphs 3,
7 and 8 above.

     12. Any determination by Administrative Agent pursuant to this Schedule in relation to a
formula, the Mandatory Cost, an Additional Cost Rate or any amount payable to a Lender shall, in
the absence of manifest error, be conclusive and binding on all parties to this Agreement.

     13. Administrative Agent may from time to time, after consultation with Borrower and the
Lenders, determine and notify to all parties to this Agreement any amendments which are required to
be made to this Schedule in order to comply with any change in law, regulation or any requirements
from time to time imposed by the Bank of England, the Financial Services Authority or the European
Central Bank (or, in any case, any other authority which replaces all or any of its functions) and
any such determination shall, in the absence of manifest error, be conclusive and binding on all
parties to this Agreement.

Schedule 1.2
3

 

SCHEDULE 2.1

COMMITMENTS AND PERCENTAGES

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Percentage
	Lender	 	Commitment	 	rounded to 9 decimal places
	JPMorgan Chase
Bank, N.A., London
Branch
	 	€	500,000,000	 	 	 	100.000000000	%
	Total
	 	€	500,000,000	 	 	 	100.000000000	%

Schedule 2.1
1

 

SCHEDULE 11.2

CERTAIN ADDRESSES FOR NOTICES

PLD International Incorporated

ProLogis

4545 Airport Way

Denver, CO 80239

Attention: Phil Joseph

Tel: (303) 567-5663

Fax: (303) 375-8581

Email: pjoseph@prologis.com

Website Address: www.prologis.com

ADMINISTRATIVE AGENT:

J.P. Morgan Europe Limited

125 London Wall, 9th Floor

London, EC2Y 5AJ

Attention: Ching Loh

Tel: +44 207 777 2350 ext.72350

Fax: +44 207 777 2360

Email: Ching.Loh@jpmorgan.com

Schedule 11.2
1

 

SCHEDULE 11.6

PROCESSING AND RECORDATION FEES

Administrative Agent will charge a processing and recordation fee (an “Assignment Fee”) in
the amount of US$3,500 for each assignment; provided, however, that in the event of
two or more concurrent assignments to members of the same Assignee Group (which may be effected by
a suballocation of an assigned amount among members of such Assignee Group) or two or more
concurrent assignments by members of the same Assignee Group to a single Eligible Assignee (or to
an Eligible Assignee and members of its Assignee Group), the Assignment Fee will be US$2,500 plus
the amount set forth below:

	 	 	 
	Transaction	 	Assignment Fee
	First four concurrent assignments or suballocations to members of an Assignee Group (or from members of an
Assignee Group, as applicable)
	 	US$0
	 
	 	 
	Each additional concurrent assignment or suballocation to a member of such Assignee Group (or from a member of such
Assignee Group, as applicable)
	 	US$500

For purposes of this Schedule 11.6, “Assignee Group” means two or more Eligible Assignees
that are Affiliates of one another or two or more Approved Funds managed by the same investment
advisor.

Schedule 11.6
1

 

EXHIBIT A

FORM OF LOAN NOTICE

Date:                                         ,                     

To:     J.P. Morgan Europe Limited, as Administrative Agent

	Ladies and Gentlemen:

Reference is made to the Senior Bridge Loan Agreement dated as of April 21, 2011 (as amended,
restated, extended, supplemented or otherwise modified in writing from time to time, the
“Agreement”; the terms defined therein being used herein as therein defined), among PLD
International Incorporated (“Borrower”), the Lenders from time to time party thereto and
J.P. Morgan Europe Limited, as Administrative Agent.

     Borrower hereby requests (select one):

o A Borrowing of Loans.

o A continuation of Loans that currently have an Interest Period ending on [                                        .]

	1.	 	On                                          (a Business Day).
	 
	2.	 	In the aggregate amount of                     .
	 
	3.	 	With an Interest Period of                                          [7/14 days] [1/2/3/6 month(s)].
	 
	 	 	[The undersigned hereby certifies that:

	 	1.	 	The Borrowing requested herein complies with Section 2.1 of the Agreement; and
	 
	 	2.	 	The proceeds of the Borrowing will be used for the purposes set forth in Section 7.6 of
the Credit Agreement.]

	 	 	 	 	 	 	 
	 	 	PLD INTERNATIONAL INCORPORATED	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	Title:	 	 	 	 
	 

	 	 	 	 	 	 

Exhibit A
1

 

EXHIBIT C

FORM OF TRANSFER CERTIFICATE

To:     J.P. Morgan Europe Limited, as Administrative Agent

From: [The Existing Lender] (the “Existing Lender”) and [The New Lender] (the “New
Lender”)

Dated:     
             
             
              
              
   , 20  
               
   

PLD INTERNATIONAL INCORPORATED

SENIOR BRIDGE LOAN AGREEMENT

dated as of April 21, 2011 (the “Agreement”)

1. We refer to the Agreement. This is a Transfer Certificate. Terms defined in the Agreement have
the same meaning in this Transfer Certificate unless given a different meaning in this Transfer
Certificate.

2. We refer to Section 11.6.5 (Procedure for Transfer):

	 	(a)	 	The Existing Lender and the New Lender agree to the Existing Lender
transferring to the New Lender by novation all or part of the Existing Lender’s
Commitment, rights and obligations referred to in the Schedule hereto in accordance
with Section 11.6.5 (Procedure for Transfer).
	 
	 	(b)	 	The proposed Transfer Date is [                    ].
	 
	 	(c)	 	The Lending Office and address, fax number and attention details for notices to
the New Lender for the purposes of Section 11.2 (Notices) and the account
details for payment are set out in the Schedule hereto.

3. The New Lender expressly acknowledges the limitations on the Existing Lender’s obligations set
out in paragraph (c) of Section 11.6.4 (Limitation of Responsibility of Existing Lenders).

4. This Transfer Certificate may be executed in any number of counterparts each of which shall have
the same effect as if the signatures on the counterparts were on a single counterpart of this
Transfer Certificate.

Exhibit C
1

 

5. This Transfer Certificate is governed by New York law.

Exhibit C
2

 

THE SCHEDULE

Commitment/rights and obligations to be transferred

[insert relevant details]

[Lending Office address, fax number and attention details for notices and account details for
payments]

	 	 	 	 	 	 	 	 	 	 	 
	[Existing Lender]	 	 	 	[New Lender]	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	By:

	 	 	 	 	 	By:	 	 	 	 
	 

	 	 
	 	 	 	 	 	 	 	 

	 	 	This Transfer Certificate is accepted by Administrative Agent, and the Transfer Date is
confirmed as [                    ].
	 
	 	 	J.P. Morgan Europe Limited

By:                                                             

Exhibit C
3exv4w1

Exhibit 4.1

THIS NOTE AND THE COMMON STOCK INTO WHICH IT MAY BE CONVERTED HAVE NOT BEEN REGISTERED UNDER
THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR APPLICABLE STATE SECURITIES LAWS AND MAY NOT
BE OFFERED, SOLD OR OTHERWISE TRANSFERRED, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF AN EFFECTIVE
REGISTRATION STATEMENT UNDER THE ACT OR SUCH LAWS COVERING THE TRANSFER OR AN OPINION OF COUNSEL
SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED.

PROSPECT GLOBAL RESOURCES INC.

CONVERTIBLE SECURED PROMISSORY NOTE

	 	 
	$2,500,000 	April 25, 2011

Section 1. Principal. PROSPECT GLOBAL RESOURCES INC., a Delaware corporation (the
“Company”), for value received, hereby promises to pay to the order of COR Capital LLC, as
investment advisor on behalf of the Hexagon Investments, LLC, and any assignees or transferees
thereof (the “Holder”), in lawful money of the United States at the address of Holder set
forth below, the principal amount of $2,500,000, together with interest as provided in Section 2
below.

Section 2. Interest. Except as otherwise provided herein, interest
(“Interest”) shall accrue on the outstanding Principal Amount of the Note at the rate of
10% per annum (the “Interest Rate”).

Section 3. Definitions. For purposes of this Note, the following terms have the
meanings set forth below:

“Business Day” means any day other than Saturday, Sunday or a day on which banks are
required to be closed in the State of Colorado.

“Common Stock” means the common stock, par value $0.001 per share, of the Company.

“Note” means this Convertible Secured Promissory Note.

“Securities Purchase Agreement” means the Securities Purchase Agreement, dated as of
the date hereof, between the Company and the Holder, pursuant to which this Note was issued.

 

 

 

“Obligations” means any and all amounts owing to the Holder under the Note, including
Principal and Interest provided for herein and the conversion rights of the Holder.

“Person” means an individual, a partnership, a corporation, a limited liability
company, an association, a joint stock company, a trust, a joint venture, an unincorporated
organization and a governmental entity or any department, agency or political subdivision thereof.

“Principal Amount” means, as to this Note, the principal amount set forth on the first
page of this Note, or such lesser principal amount of this Note (“Principal”) as may be
outstanding hereunder at any time and from time to time.

“Qualified Financing” means the Company’s next sale of its securities in one
transaction or series of related transactions occurring on or before the Maturity Date for an
aggregate purchase price paid to the Company of no less than $10,000,000.

Section 4. Payments of Principal and Interest.

4.1 The “Maturity Date” of the Note shall be April 24, 2012.

4.2 Except as otherwise provided herein, the aggregate unpaid Principal Amount of the Note
together with all accrued and unpaid Interest thereon shall be due and payable in full on the
Maturity Date.

4.3 The aggregate unpaid Principal Amount of the Note together with all accrued and unpaid
Interest thereon shall be due and payable in full upon an Event of Default in the event that the
Holder accelerates and demands payment pursuant to the terms herein. Upon any conversion into
Common Stock, as provided for herein, then the Company’s only obligation shall be to issue the
Common Stock to the Holder in accordance with the terms hereof.

4.4 Whenever any payment of any Obligation under the Note shall become due, or otherwise would
occur, on a day that is not a Business Day, such payment shall be made on the next succeeding
Business Day, and such extension of time shall in such case be included in the computation of such
Interest payable.

4.5 If at any time any payment of any Obligations under this Note is rescinded or must
otherwise be restored or returned upon the insolvency, bankruptcy or reorganization of the Company
or otherwise, such Obligations, but only to the extent so rescinded, restored or returned, shall be
reinstated as though such payment had been due but not made when due.

Section 5. Conversion.

5.1 Automatic Conversion. This Note shall automatically convert upon a Qualified
Financing if that Qualified Financing occurs prior to the Maturity Date at a conversion price per
share equal to $3.00 (subject to adjustment for stock splits, recapitalizations or similar events).
To the extent that a Qualified Financing occurs at a per share purchase price of less than $3.60,
then Holder shall receive additional shares of Common Stock such that the total shares
received by Holder upon conversion equals the aggregate Principal Amount (X) plus all accrued
Interest (Y) divided by 0.8 times the per share purchase price of the Qualified Financing (Z). If
the Qualified Financing occurs in a series of transactions, then (Z) shall be on the most favorable
terms offered to any other investor in that series of transactions. For clarity, the total shares
received by Holder shall be equal to (X + Y)÷(0.8 * Z).

 

2

 

5.2 Optional Conversion. On or prior to the Maturity Date or the closing of a
Qualified Financing, the Holder may elect, by providing written notice to the Company, to convert
the aggregate Principal Amount plus all accrued Interest into shares of Common Stock at a
conversion price per share equal to $3.00 (subject to adjustment for stock splits,
recapitalizations or similar events).

5.3 Upon conversion of this Note pursuant to Section 5.1 or 5.2, the Holder shall surrender
the Note in exchange for shares representing the Common Stock.

Section 6. Covenants.

6.1 Affirmative Covenants of the Company. The Company covenants and agrees that,
between the date hereof and the earlier of (i) conversion of the Note pursuant to Section 5, or
(ii) the date of repayment of the Principal Amount plus all accrued Interest, the Company shall:

(a) Corporate Existence. At all times cause to be done all things reasonably
necessary to maintain, preserve and renew its corporate existence and all material licenses,
authorizations and permits necessary to the conduct of its businesses.

(b) Compliance with Laws. Comply with all applicable laws, rules and regulations of
all governmental authorities, the violation of which could reasonably be expected to have a
Material Adverse Effect on its business or properties.

(c) Books and Records. Maintain proper books of record and account which present
fairly in all material respects its financial condition and results of operations and make
provisions on its financial statements for all such proper reserves as in each case are required in
accordance with generally accepted accounting principles, consistently applied.

6.2 Negative Covenants of the Company. The Company covenants and agrees that, between
the date hereof and the earlier of (i) conversion of the Note pursuant to Section 5 or (ii) the
repayment of the Principal Amount plus all accrued Interest, the Company shall not:

(a) Equity Plans. Adopt or otherwise implement any new stock option, stock grant or
other equity compensation plan for the Company’s employees, directors or consultants.

(b) Liquidation. Take any action to liquidate, dissolve or otherwise wind-up the
Company.

(c) Redemptions. Redeem or repurchase any outstanding Common Stock.

 

3

 

(d) No Impairment. Through any reorganization, recapitalization, transfer of assets,
consolidation, merger, dissolution, issue or sale of securities or any other voluntary action,
avoid or seek to avoid the observance or performance of any of the terms to be observed or
performed hereunder by the Company, but will at all times in good faith assist in the carrying out
of all the provisions of the Note and in the taking of all such action as may be necessary or
appropriate in order to protect the respective conversion rights of Holder against impairment.

6.3 Other Rights. The Company shall treat the Note and the Holder pari passu in all
respects with the Company’s $2,000,000 Convertible Secured Promissory Note dated January 24, 2011
payable to Richard Merkin (the “Merkin Note”) and the Company’s $500,000 Convertible
Secured Promissory Note dated March 11, 2011 payable to COR Capital LLC (the “COR Note”).
The Company will make no payments to the holders of the Merkin Note or the COR Note in order to
induce the waiver of any negative covenant in the Merkin Note or the COR Note or to make any other
amendment to the Merkin Note or the COR Note without making a pro rata payment to Holder based on
the relative outstanding principal balances of this Note and the Merkin Note and the COR Note. The
Company also agrees to notify Holder of any communications with the holders of the Merkin Note or
the COR Note which may impact Holder pursuant to this provision, this Note, the related
Registration Rights Agreement between Holder and Company and/or the Security Agreement among
Richard Merkin, COR Capital LLC, Holder and the Company.

Section 7. Events of Default. In case of the happening of any of the following events
(each, an “Event of Default”):

(a) the Company shall materially fail to observe or perform any material covenant or agreement
contained in this Note and such failure shall continue unremedied for a period of 15 days following
written notice thereof to the Company from any Holder;

(b) any breach of any representation, warranty or covenant made by the Company contained in
this Note or the Securities Purchase Agreement;

(c) the Company shall (i) voluntarily commence any proceeding or file any petition or any
notice of its intent to commence or file any such proceeding, petition or proposal seeking relief
under Title 11 of the United States Code or any other federal or state bankruptcy, insolvency or
similar law, (ii) apply for or consent to the appointment of a receiver, trustee, custodian,
sequestrator or similar official for any such Person or for any substantial part of its property or
assets, (iii) make a general assignment for the benefit of creditors, or (iv) take any corporate or
stockholder action in furtherance of any of the foregoing;

(d) an involuntary proceeding shall be commenced or an involuntary petition shall be filed in
a court of competent jurisdiction seeking (i) relief in respect of the Company or of any
substantial part of the property or assets thereof, under Title 11 of the United States Code or any
other federal or state bankruptcy, insolvency or similar law, (ii) the appointment of a receiver,
trustee, custodian, sequestrator or similar official for the Company or any substantial part of its
property or (iii) the winding-up or liquidation of the Company, and such proceeding, petition or
order shall continue unstayed and in effect for a period of 90 consecutive days; or

 

4

 

(e) the Note shall cease to be in full force and effect and enforceable against the Company in
accordance with its terms (other than by reason of any action taken (or the failure to take any
action) by the Holder);

then, upon the occurrence of any such Event of Default (other than an Event of Default described in
Section 7(c) or (d) above, in which case all Principal and Interest shall automatically become
immediately due and payable in full), at any time thereafter during the continuation of such Event
of Default, the Holder may elect, by written notice delivered to the Company (a “Remedies
Election”), to take any or all of the following actions: (i) declare the Note to be forthwith
due and payable, whereupon the entire unpaid Principal Amount, together with accrued and unpaid
Interest thereon, and all other cash Obligations thereunder, shall become forthwith due and
payable, without presentment, demand, protest or any other notice of any kind, all of which are
hereby expressly waived by the Company, anything contained herein or in the Note to the contrary
notwithstanding; and (ii) exercise any and all other remedies provided in the Note or available at
law or in equity upon the occurrence and continuation of an Event of Default.

Section 8. Miscellaneous.

8.1 Successors and Assigns. Subject to the exceptions specifically set forth in this
Note, the terms and conditions of this Note shall inure to the benefit of and be binding upon the
respective executors, administrators, heirs, successors and assigns of the parties.

8.2 Survival. The warranties, representations and covenants of the Company and the
Holder contained in or made pursuant to this Note shall survive the execution and delivery of this
Note.

8.3 Loss or Mutilation of Note. Upon receipt by the Company of evidence satisfactory
to the Company of the loss, theft, destruction or mutilation of this Note, together with indemnity
reasonably satisfactory to the Company, in the case of loss, theft or destruction, or the surrender
and cancellation of the Note, in the case of mutilation, the Company shall execute and deliver to
Holder a new Note of like tenor and denomination as this Note. Principal is payable only to the
registered Holder of the Note.

8.4 Legend. Any certificate representing shares of the Company’s capital stock issued
upon conversion of this Note or otherwise issued hereunder shall be stamped or otherwise imprinted
with a legend substantially in the following form:

THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE
“ACT”), OR APPLICABLE STATE SECURITIES LAWS AND MAY NOT BE OFFERED, SOLD OR OTHERWISE
TRANSFERRED, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT
UNDER THE ACT OR SUCH LAWS COVERING THE TRANSFER OR AN OPINION OF COUNSEL SATISFACTORY TO
THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED.

 

5

 

8.5 Notices. Any notice, request or other communication required or permitted
hereunder shall be in writing and shall be delivered personally or by facsimile or email
(facsimile or email receipt confirmed electronically) or shall be sent by a reputable express
delivery service addressed as follows:

If to the Company to:

Prospect Global Resources Inc.

600 17th Street, Suite 2800 South

Denver, CO 80202

Attn: Patrick L. Avery

Fax No.: 720-294-0402

email: ***************

If to the Holder to:

Hexagon Investments, LLC

730 17th Street, Suite 800

Denver, CO 80202

Attn: Brian Fleischmann

Fax: **************

email: **************

Either party hereto may change the above specified recipient or mailing address by notice to the
other party given in the manner herein prescribed. All notices shall be deemed given on the day
when actually delivered as provided above (if delivered personally or by facsimile, provided that
any such facsimile is received during regular business hours at the recipient’s location) or on the
day shown on the return receipt (if delivered by mail or delivery service).

8.6 Law. This Note shall be governed by and construed in accordance with the domestic
laws of the Colorado, without giving effect to any choice of law or conflict of law provision or
rule that would cause the application of the laws of any jurisdiction other than the State of
Colorado. The Holder and the Company each accepts and consents to the exclusive jurisdiction of
the state or federal courts located in the City of Denver and State of Colorado, for itself and in
respect of its property, and waives in respect of both itself and its property any defense it may
have as to or based on sovereign immunity, jurisdiction, improper venue or inconvenient forum.
Each of the parties hereto irrevocably consents to the service of any process or other papers by
the use of any of the methods and to the addresses set for the giving of notices pursuant to this
Agreement.

8.7 Waiver and Amendment. Any term of this Note may be amended and the observance of
any term of this Note may be waived (either generally or in a particular instance and either
retroactively or prospectively), only with the prior written consent of the Company and the Holder.

 

6

 

IN WITNESS WHEREOF, the Company has caused this Note to be signed in its name.

	 	 	 	 	 
	 	THE COMPANY:

PROSPECT GLOBAL RESOURCES INC.

 	 
	 	By:  	/s/ Patrick L. Avery
 	 
	 	 	Patrick L. Avery 	 
	 	 	Chief Executive Officer 	 
	 

 

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