Document:

Exhibit 10.1

            
                                                      
                                                      
                                                      
                                               

            

            

             

            
            AMENDED AND RESTATED CREDIT AGREEMENT

            
            among

            CH
            ENERGY GROUP, INC.

             

            
            and

             

            
            CENTRAL HUDSON ENTERPRISES CORPORATION,

            
            as Borrowers

            
            THE LENDING INSTITUTIONS NAMED THEREIN,

            
            as Lenders

            
            KEYBANK NATIONAL ASSOCIATION,

            
            as the Swing Line Lender, a Letter of Credit
            Issuer,

            
            Book Manager, Lead Arranger

            
            and Administrative Agent

             

            
            JPMORGAN CHASE BANK,
            N.A.

            
            as Syndication Agent

             

            
            BANK OF AMERICA,
            N.A.,

            
            as Co-Documentation Agent

            
            and

             

            
            HSBC BANK USA,

            
            as Co-Documentation Agent

             

            
            ________________________

             

            
            dated as of

            
            February 21, 2008

             

            
            ________________________

             

            
            $150,000,000 Revolving Facility

            
            $15,000,000 Swing Line Facility

            
                                                      
                                                      
                                               

            

             

            
            

            

             

            TABLE
            OF CONTENTS

            
            Page

            
                	
                            
                            ARTICLE I.

                        	
                            
                            DEFINITIONS AND TERMS

                        	
                            
                            1

                        

            

            
                	
                             

                        	
                            
                            Section 1.1.

                        	
                            
                            Certain Defined Terms

                        	
                            
                            2

                        

            

            
                	
                             

                        	
                            
                            Section 1.2.

                        	
                            
                            Computation of Time Periods

                        	
                            
                            19

                        

            

            
                	
                             

                        	
                            
                            Section 1.3.

                        	
                            
                            Accounting Terms

                        	
                            
                            19

                        

            

            
                	
                             

                        	
                            
                            Section 1.4.

                        	
                            
                            Terms Generally

                        	
                            
                            19

                        

            

            
                	
                            
                            ARTICLE II.

                        	
                            
                            AMOUNT AND TERMS OF LOANS

                        	
                            
                            19

                        

            

            
                	
                             

                        	
                            
                            Section 2.1.

                        	
                            
                            Commitments for Loans

                        	
                            
                            19

                        

            

            
                	
                             

                        	
                            
                            Section 2.2.

                        	
                            
                            Borrowing, Continuation or Conversion of
                            Loans

                        	
                            
                            21

                        

            

            
                	
                             

                        	
                            
                            Section 2.3.

                        	
                            
                            Disbursement of Funds.

                        	
                            
                            22

                        

            

            
                	
                             

                        	
                            
                            Section 2.4.

                        	
                            
                            Evidence of Obligations

                        	
                            
                            23

                        

            

            
                	
                             

                        	
                            
                            Section 2.5.

                        	
                            
                            Interest

                        	
                            
                            24

                        

            

            
                	
                             

                        	
                            
                            Section 2.6.

                        	
                            
                            Increased Costs; Illegality

                        	
                            
                            26

                        

            

            
                	
                             

                        	
                            
                            Section 2.7.

                        	
                            
                            Breakage Compensation

                        	
                            
                            27

                        

            

            
                	
                             

                        	
                            
                            Section 2.8.

                        	
                            
                            Change of Lending Office; Replacement of
                            Lenders

                        	
                            
                            28

                        

            

            
                	
                             

                        	
                            
                            Section 2.9.

                        	
                            
                            Refunding of, or Participation in, Swing Line
                            Loans

                        	
                            
                            29

                        

            

            
                	
                             

                        	
                            
                            Section 2.10.

                        	
                            
                            Joint and Several Liability of the Borrowers

                        	
                            
                            30

                        

            

            
                	
                             

                        	
                            
                            Section 2.11.

                        	
                            
                            Contribution Among Borrowers

                        	
                            
                            30

                        

            

            
                	
                            
                            ARTICLE III.

                        	
                            
                            LETTERS OF CREDIT

                        	
                            
                            31

                        

            

            
                	
                             

                        	
                            
                            Section 3.1.

                        	
                            
                            Letters of Credit

                        	
                            
                            31

                        

            

            
                	
                             

                        	
                            
                            Section 3.2.

                        	
                            
                            Letter of Credit Requests: Notices of
                            Issuance

                        	
                            
                            32

                        

            

            
                	
                             

                        	
                            
                            Section 3.3.

                        	
                            
                            Agreement to Repay Letter of Credit Drawings

                        	
                            
                            32

                        

            

            
                	
                             

                        	
                            
                            Section 3.4.

                        	
                            
                            Letter of Credit Participations

                        	
                            
                            33

                        

            

            
                	
                             

                        	
                            
                            Section 3.5.

                        	
                            
                            Increased Costs

                        	
                            
                            35

                        

            

            
                	
                             

                        	
                            
                            Section 3.6.

                        	
                            
                            Guaranty of Letter of Credit Obligations of Other Letter
                            of Credit Obligors

                        	
                            
                            35

                        

            

            
                	
                            
                            ARTICLE IV.

                        	
                            
                            FEES; COMMITMENTS

                        	
                            
                            37

                        

            

            
                	
                             

                        	
                            
                            Section 4.1.

                        	
                            
                            Fees

                        	
                            
                            37

                        

            

            
                	
                             

                        	
                            
                            Section 4.2.

                        	
                            
                            Voluntary Termination/Reduction of
                            Commitments

                        	
                            
                            38

                        

            

            
                	
                             

                        	
                            
                            Section 4.3.

                        	
                            
                            Termination of Commitments

                        	
                            
                            39

                        

            

            
                	
                            
                            ARTICLE V.

                        	
                            
                            PAYMENTS

                        	
                            
                            39

                        

            

            
                	
                             

                        	
                            
                            Section 5.1.

                        	
                            
                            Repayment of Loans

                        	
                            
                            39

                        

            

            
                	
                             

                        	
                            
                            Section 5.2.

                        	
                            
                            Voluntary Prepayments

                        	
                            
                            39

                        

            

            
                	
                             

                        	
                            
                            Section 5.3.

                        	
                            
                            Mandatory Payments and Prepayments

                        	
                            
                            40

                        

            

            
                	
                             

                        	
                            
                            Section 5.4.

                        	
                            
                            Method and Place of Payment

                        	
                            
                            41

                        

            

             

            

             

            
            

            

             

            
                	
                             

                        	
                            
                            Section 5.5.

                        	
                            
                            Net Payments.

                        	
                            
                            41

                        

            

            
                	
                            
                            ARTICLE VI.

                        	
                            
                            CONDITIONS PRECEDENT

                        	
                            
                            43

                        

            

            
                	
                             

                        	
                            
                            Section 6.1.

                        	
                            
                            Conditions Precedent at Closing Date

                        	
                            
                            43

                        

            

            
                	
                             

                        	
                            
                            Section 6.2.

                        	
                            
                            Conditions Precedent to All Credit Events

                        	
                            
                            45

                        

            

            
                	
                            
                            ARTICLE VII.

                        	
                            
                            REPRESENTATIONS AND WARRANTIES

                        	
                            
                            45

                        

            

            
                	
                             

                        	
                            
                            Section 7.1.

                        	
                            
                            Corporate Status

                        	
                            
                            45

                        

            

            
                	
                             

                        	
                            
                            Section 7.2.

                        	
                            
                            Corporate Power and Authority

                        	
                            
                            46

                        

            

            
                	
                             

                        	
                            
                            Section 7.3.

                        	
                            
                            No Violation

                        	
                            
                            46

                        

            

            
                	
                             

                        	
                            
                            Section 7.4.

                        	
                            
                            Governmental Approvals

                        	
                            
                            46

                        

            

            
                	
                             

                        	
                            
                            Section 7.5.

                        	
                            
                            Litigation

                        	
                            
                            46

                        

            

            
                	
                             

                        	
                            
                            Section 7.6.

                        	
                            
                            Use of Proceeds; Margin Regulations

                        	
                            
                            46

                        

            

            
                	
                             

                        	
                            
                            Section 7.7.

                        	
                            
                            Financial Statements

                        	
                            
                            47

                        

            

            
                	
                             

                        	
                            
                            Section 7.8.

                        	
                            
                            Solvency

                        	
                            
                            47

                        

            

            
                	
                             

                        	
                            
                            Section 7.9.

                        	
                            
                            No Material Adverse Change

                        	
                            
                            47

                        

            

            
                	
                             

                        	
                            
                            Section 7.10.

                        	
                            
                            Tax Returns and Payments

                        	
                            
                            48

                        

            

            
                	
                             

                        	
                            
                            Section 7.11.

                        	
                            
                            Title to Properties

                        	
                            
                            48

                        

            

            
                	
                             

                        	
                            
                            Section 7.12.

                        	
                            
                            Lawful Operations

                        	
                            
                            48

                        

            

            
                	
                             

                        	
                            
                            Section 7.13.

                        	
                            
                            Environmental Matters

                        	
                            
                            48

                        

            

            
                	
                             

                        	
                            
                            Section 7.14.

                        	
                            
                            Compliance with ERISA

                        	
                            
                            49

                        

            

            
                	
                             

                        	
                            
                            Section 7.15.

                        	
                            
                            Intellectual Property

                        	
                            
                            49

                        

            

            
                	
                             

                        	
                            
                            Section 7.16.

                        	
                            
                            Investment Company Act; Federal Power Act

                        	
                            
                            49

                        

            

            
                	
                             

                        	
                            
                            Section 7.17.

                        	
                            
                            Insurance

                        	
                            
                            49

                        

            

            
                	
                             

                        	
                            
                            Section 7.18.

                        	
                            
                            True and Complete Disclosure

                        	
                            
                            49

                        

            

            
                	
                            
                            ARTICLE VIII.

                        	
                            
                            AFFIRMATIVE COVENANTS

                        	
                            
                            50

                        

            

            
                	
                             

                        	
                            
                            Section 8.1.

                        	
                            
                            Reporting Requirements

                        	
                            
                            50

                        

            

            
                	
                             

                        	
                            
                            Section 8.2.

                        	
                            
                            Books, Records and Inspections

                        	
                            
                            52

                        

            

            
                	
                             

                        	
                            
                            Section 8.3.

                        	
                            
                            Insurance

                        	
                            
                            52

                        

            

            
                	
                             

                        	
                            
                            Section 8.4.

                        	
                            
                            Payment of Taxes and Claims

                        	
                            
                            52

                        

            

            
                	
                             

                        	
                            
                            Section 8.5.

                        	
                            
                            Preservation of Existence, etc

                        	
                            
                            52

                        

            

            
                	
                             

                        	
                            
                            Section 8.6.

                        	
                            
                            Good Repair

                        	
                            
                            53

                        

            

            
                	
                             

                        	
                            
                            Section 8.7.

                        	
                            
                            Compliance with Statutes, Regulations, Orders,
                            Restrictions

                        	
                            
                            53

                        

            

            
                	
                             

                        	
                            
                            Section 8.8.

                        	
                            
                            Fiscal Years, Fiscal Quarters

                        	
                            
                            53

                        

            

            
                	
                             

                        	
                            
                            Section 8.9.

                        	
                            
                            Senior Debt

                        	
                            
                            53

                        

            

            
                	
                            
                            ARTICLE IX.

                        	
                            
                            NEGATIVE COVENANTS

                        	
                            
                            53

                        

            

            
                	
                             

                        	
                            
                            Section 9.1.

                        	
                            
                            Changes in Business

                        	
                            
                            53

                        

            

             

            

             

            
            

            

             

            
                	
                             

                        	
                            
                            Section 9.2.

                        	
                            
                            Merger, Consolidation, Acquisitions, Asset
                            Sales

                        	
                            
                            53

                        

            

            
                	
                             

                        	
                            
                            Section 9.3.

                        	
                            
                            Liens

                        	
                            
                            54

                        

            

            
                	
                             

                        	
                            
                            Section 9.4.

                        	
                            
                            Investments

                        	
                            
                            55

                        

            

            
                	
                             

                        	
                            
                            Section 9.5.

                        	
                            
                            Consolidated Total Debt/Consolidated Total
                            Capitalization Ratio

                        	
                            
                            55

                        

            

            
                	
                             

                        	
                            
                            Section 9.6.

                        	
                            
                            Transactions with Affiliates

                        	
                            
                            55

                        

            

            
                	
                             

                        	
                            
                            Section 9.7.

                        	
                            
                            Plan Terminations, Minimum Funding

                        	
                            
                            55

                        

            

            
                	
                             

                        	
                            
                            Section 9.8.

                        	
                            
                            Material Agreements

                        	
                            
                            56

                        

            

            
                	
                             

                        	
                            
                            Section 9.9.

                        	
                            
                            Utility Dividends

                        	
                            
                            56

                        

            

            
                	
                            
                            ARTICLE X.

                        	
                            
                            EVENTS OF DEFAULT

                        	
                            
                            56

                        

            

            
                	
                             

                        	
                            
                            Section 10.1.

                        	
                            
                            Events of Default

                        	
                            
                            56

                        

            

            
                	
                             

                        	
                            
                            Section 10.2.

                        	
                            
                            Acceleration; Remedies

                        	
                            
                            58

                        

            

            
                	
                             

                        	
                            
                            Section 10.3.

                        	
                            
                            Application of Liquidation Proceeds

                        	
                            
                            59

                        

            

            
                	
                            
                            ARTICLE XI.

                        	
                            
                            THE ADMINISTRATIVE AGENT

                        	
                            
                            59

                        

            

            
                	
                             

                        	
                            
                            Section 11.1.

                        	
                            
                            Appointment

                        	
                            
                            59

                        

            

            
                	
                             

                        	
                            
                            Section 11.2.

                        	
                            
                            Delegation of Duties

                        	
                            
                            60

                        

            

            
                	
                             

                        	
                            
                            Section 11.3.

                        	
                            
                            Exculpatory Provisions

                        	
                            
                            60

                        

            

            
                	
                             

                        	
                            
                            Section 11.4.

                        	
                            
                            Reliance by Administrative Agent

                        	
                            
                            60

                        

            

            
                	
                             

                        	
                            
                            Section 11.5.

                        	
                            
                            Notice of Default

                        	
                            
                            61

                        

            

            
                	
                             

                        	
                            
                            Section 11.6.

                        	
                            
                            Non-Reliance

                        	
                            
                            61

                        

            

            
                	
                             

                        	
                            
                            Section 11.7.

                        	
                            
                            Indemnification

                        	
                            
                            61

                        

            

            
                	
                             

                        	
                            
                            Section 11.8.

                        	
                            
                            The Administrative Agent in Individual
                            Capacity

                        	
                            
                            62

                        

            

            
                	
                             

                        	
                            
                            Section 11.9.

                        	
                            
                            Successor Administrative Agent

                        	
                            
                            62

                        

            

            
                	
                             

                        	
                            
                            Section 11.10.

                        	
                            
                            Other Agents

                        	
                            
                            62

                        

            

            
                	
                            
                            ARTICLE XII.

                        	
                            
                            MISCELLANEOUS

                        	
                            
                            62

                        

            

            
                	
                             

                        	
                            
                            Section 12.1.

                        	
                            
                            Payment of Expenses

                        	
                            
                            63

                        

            

            
                	
                             

                        	
                            
                            Section 12.2.

                        	
                            
                            Right of Setoff

                        	
                            
                            64

                        

            

            
                	
                             

                        	
                            
                            Section 12.3.

                        	
                            
                            Notices

                        	
                            
                            64

                        

            

            
                	
                             

                        	
                            
                            Section 12.4.

                        	
                            
                            Benefit of Agreement

                        	
                            
                            65

                        

            

            
                	
                             

                        	
                            
                            Section 12.5.

                        	
                            
                            No Waiver; Remedies Cumulative

                        	
                            
                            68

                        

            

            
                	
                             

                        	
                            
                            Section 12.6.

                        	
                            
                            Payments Pro Rata; Sharing of Setoffs

                        	
                            
                            68

                        

            

            
                	
                             

                        	
                            
                            Section 12.7.

                        	
                            
                            Governing Law; Submission to Jurisdiction; Venue; Waiver
                            of Jury Trial

                        	
                            
                            69

                        

            

            
                	
                             

                        	
                            
                            Section 12.8.

                        	
                            
                            Counterparts

                        	
                            
                            70

                        

            

            
                	
                             

                        	
                            
                            Section 12.9.

                        	
                            
                            Integration

                        	
                            
                            70

                        

            

            
                	
                             

                        	
                            
                            Section 12.10.

                        	
                            
                            Headings Descriptive

                        	
                            
                            70

                        

            

            
                	
                             

                        	
                            
                            Section 12.11.

                        	
                            
                            Amendment or Waiver

                        	
                            
                            70

                        

            

             

            

             

            
            

            

             

            
                	
                             

                        	
                            
                            Section 12.12.

                        	
                            
                            Survival of Indemnities

                        	
                            
                            71

                        

            

            
                	
                             

                        	
                            
                            Section 12.13.

                        	
                            
                            Domicile of Loans

                        	
                            
                            71

                        

            

            
                	
                             

                        	
                            
                            Section 12.14.

                        	
                            
                            Confidentiality

                        	
                            
                            71

                        

            

            
                	
                             

                        	
                            
                            Section 12.15.

                        	
                            
                            Lender Register

                        	
                            
                            72

                        

            

            
                	
                             

                        	
                            
                            Section 12.16.

                        	
                            
                            Limitations on Liability of the Letter of Credit
                            Issuers

                        	
                            
                            72

                        

            

            
                	
                             

                        	
                            
                            Section 12.17.

                        	
                            
                            General Limitation of Liability

                        	
                            
                            73

                        

            

            
                	
                             

                        	
                            
                            Section 12.18.

                        	
                            
                            No Duty

                        	
                            
                            73

                        

            

            
                	
                             

                        	
                            
                            Section 12.19.

                        	
                            
                            Lenders and Agent Not Fiduciary to Borrowers

                        	
                            
                            73

                        

            

            
                	
                             

                        	
                            
                            Section 12.20.

                        	
                            
                            Survival of Representations and Warranties

                        	
                            
                            73

                        

            

            
                	
                             

                        	
                            
                            Section 12.21.

                        	
                            
                            Severability

                        	
                            
                            74

                        

            

            
                	
                             

                        	
                            
                            Section 12.22.

                        	
                            
                            Independence of Covenants

                        	
                            
                            74

                        

            

            
                	
                             

                        	
                            
                            Section 12.23.

                        	
                            
                            Interest Rate Limitation

                        	
                            
                            74

                        

            

            
                	
                             

                        	
                            
                            Section 12.24.

                        	
                            
                            Amendment Effective

                        	
                            
                            74

                        

            

             

             

            
                	
                            
                            Annex I

                        	
                            
                            -

                        	
                            
                            Lenders, Commitments and Notice Addresses

                        

            

             

            
                	
                            
                            Schedule 7.1

                        	
                            
                            -

                        	
                            
                            Subsidiaries

                        

            

            
                	
                            
                            Schedule 9.3

                        	
                            
                            -

                        	
                            
                            Permitted Liens

                        

            

            
                	
                            
                            Schedule 9.6

                        	
                            
                            -

                        	
                            
                            Transactions with Affiliates

                        

            

             

            
                	
                            
                            Exhibit A-1

                        	
                            
                            -

                        	
                            
                            Revolving Note

                        

            

            
                	
                            
                            Exhibit A-2

                        	
                            
                            -

                        	
                            
                            Swing Line Note

                        

            

            
                	
                            
                            Exhibit B-1

                        	
                            
                            -

                        	
                            
                            Notice of Borrowing, Continuation or
                            Conversion

                        

            

            
                	
                            
                            Exhibit B-2

                        	
                            
                            -

                        	
                            
                            Letter of Credit Request

                        

            

            
                	
                            
                            Exhibit C

                        	
                            
                            -

                        	
                            
                            Compliance Certificate

                        

            

            
                	
                            
                            Exhibit D

                        	
                            
                            -

                        	
                            
                            Closing Certificate

                        

            

            
                	
                            
                            Exhibit E

                        	
                            
                            -

                        	
                            
                            Assignment Agreement

                        

            

             

             

            

             

            

             

            
            

            

             

            
            This AMENDED AND RESTATED CREDIT AGREEMENT, dated as of February 21,
            2008, is entered into by and among the following:

            
            (i)       CH ENERGY GROUP, INC., a
            New York corporation (herein, together with its successors and assigns, the
            “Parent”);

            
            (ii)       CENTRAL HUDSON ENTERPRISES
            CORPORATION, a New York corporation (herein, together with its successors and assigns,
            “Central”, and together
            with the Parent, collectively, the
            “Borrowers” and,
            individually,
            “Borrower”);

            
            (iii)      the Lenders, defined below,
            from time to time party hereto;

            
            (iv)      JPMORGAN CHASE BANK, N.A. a New
            York banking corporation, as Syndication Agent;

            
            (v)       BANK OF AMERICA, N.A., a
            national banking association, as Co-Documentation Agent;

            
            (vi)      HSBC BANK USA, a national
            banking association, as Co-Documentation Agent; and

            
            (vii)     KEYBANK NATIONAL ASSOCIATION, a
            national banking association, as the Swing Line Lender, defined below, the
            Administrative Agent, defined below, a Letter of Credit Issuer, defined below, Book
            Manager and Lead Arranger.

            
            RECITALS:

            
            A.        The Borrowers and
            certain lenders (the “Original
            Lenders”) are parties to the Credit Agreement, dated as
            of November 21, 2003 (as amended, the “Original Credit
            Agreement”).

            
            B.        The Borrowers have
            requested that the Original Credit Agreement be amended and restated.

            
            C.        Central is a
            Wholly-Owned Subsidiary (defined below) of the Parent and is engaged in businesses
            related to those of the Parent and each other Subsidiary (defined below) of the Parent,
            and each of the Borrowers will derive direct or indirect economic benefits from the
            amendment and restatement of the Original Credit Agreement.

            
            D.        Subject to and upon
            the terms and conditions set forth herein, the Administrative Agent and the Lenders are
            willing to amend and restate the Original Credit Agreement.

            
            AGREEMENT:

             

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

            
            ARTICLE I.

             

            
            DEFINITIONS AND TERMS

             

            

             

            
            

            

             

            
            Section 1.1.      
            Certain Defined Terms. As used herein, the
            following terms shall have the meanings herein specified unless the context otherwise
            requires.

            
            “Acquisition”
            means any acquisition (a) on a going concern basis (whether by purchase, lease or
            otherwise) of assets constituting a business or a division or line of business of a
            Person that is not a Subsidiary of any Borrower, and (b) of a majority of the
            outstanding equity or other similar interests in any such Person (whether by merger,
            stock purchase or otherwise).

            
            “Adjusted Eurodollar
            Rate” means, with respect to each Interest Period for a
            Eurodollar Loan, (a) the rate per annum appearing on the applicable electronic
            page of Reuters or any successor to or substitute for such service, providing rate
            quotations comparable to those currently provided by such service, as determined by the
            Administrative Agent from time to time for purposes of providing quotations of interest
            rates applicable to Dollar deposits in the London interbank market), at approximately
            11:00 a.m. (London time) two Business Days prior to the commencement of such Interest
            Period, as the rate for Dollar deposits with a maturity comparable to such Interest
            Period, divided (and rounded to the nearest one one hundredth of 1%) by (b) a
            percentage equal to 100% minus the then stated maximum rate of all reserve requirements
            (including, without limitation, any marginal, emergency, supplemental, special or other
            reserves and without benefit of credits for proration, exceptions or offsets that may
            be available from time to time) applicable to any member bank of the Federal Reserve
            System in respect of Eurocurrency liabilities as defined in Regulation D (or any
            successor category of liabilities under Regulation D);
            provided, however, that if the rate
            referred to in clause (a) above is not available at any such time for any reason, then
            the rate referred to in clause (a) shall instead be the average (rounded to the nearest
            one one hundredth of 1%) of the rates at which Dollar deposits of $5,000,000 are
            offered to the Reference Banks in the London interbank market at approximately 11:00
            a.m. (London time), two Business Days prior to the commencement of such Interest
            Period, for contracts that would be entered into at the commencement of such Interest
            Period.

            
            “Administrative
            Agent” means KeyBank in its capacity as administrative
            agent for the Lenders, together with any successor to the Administrative Agent
            appointed pursuant to Section 11.9.

            
            “Affiliate”
            means, with respect to any Person, any other Person directly or indirectly controlling,
            controlled by, or under direct or indirect common control with such Person, or, in the
            case of any Lender that is an investment fund, the investment advisor thereof and any
            investment fund having the same investment advisor. A Person shall be deemed to control
            a second Person if such first Person possesses, directly or indirectly, the power (a)
            to vote 10% or more of the securities having ordinary voting power for the election of
            directors or managers of such second Person or (b) to direct or cause the direction of
            the management and policies of such second Person, whether through the ownership of
            voting securities, by contract or otherwise. Notwithstanding the foregoing, (i) a
            director, officer or employee of a Person shall not, solely by reason of such status,
            be considered an Affiliate of such Person; and (ii) neither the Administrative
            Agent nor any Lender shall in any event be considered an Affiliate of the Parent or any
            other Credit Party or any of their respective Subsidiaries.

            
            “Agent Fee
            Letter” means the letter, dated as of December 19,
            2007, between the Administrative Agent and the Parent, as the same may from time to
            time be amended, restated, supplemented or otherwise modified.

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

            
            “Allocable
            Amount” means, as of any date of determination, for any
            Borrower, the maximum amount of liability that could be asserted against such Borrower
            under this Agreement with respect to the

             

             

            
                	
                            
                            

                        	
                            
                            2

                        

            

             

            
            

            

             

            
            applicable Borrower Payment without (a) rendering such Borrower
            “insolvent” within the meaning of Section 101(31) of the Bankruptcy Code or
            Section 2 of either the Uniform Fraudulent Transfer Act (as in effect in any applicable
            State, the “UFTA”) or
            the Uniform Fraudulent Conveyance Act (as in effect in any applicable State, the
            “UFCA”),
            (ii) leaving such Borrower with unreasonably small capital, within the meaning of
            Section 548 of the Bankruptcy Code or Section 4 of the UFTA or Section 5 of the UFCA,
            or (iii) leaving such Borrower unable to pay its debts as they become due within
            the meaning of Section 548 of the Bankruptcy Code or Section 4 of the UFTA or Section 6
            of the UFCA.

            
            “Applicable Commitment Fee
            Rate” means, on any date of determination, a rate that
            is determined based upon the Parent S&P Rating or the Parent Moody’s Rating,
            as follows:

            
                	
                            
                            Parent S&P Rating

                        	
                            
                            Parent Moody’s Rating

                        	
                            
                            Applicable Commitment Fee Rate

                        
	
                            
                            A+ or higher

                        	
                            
                            A1 or higher

                        	
                            
                            5.00 basis points

                        
	
                            
                            A

                        	
                            
                            A2

                        	
                            
                            6.00 basis points

                        
	
                            
                            A-

                        	
                            
                            A3

                        	
                            
                            7.00 basis points

                        
	
                            
                            BBB+

                        	
                            
                            Baa1

                        	
                            
                            9.00 basis points

                        
	
                            
                            BBB

                        	
                            
                            Baa2

                        	
                            
                            10.00 basis points

                        
	
                            
                            BBB- or lower

                        	
                            
                            Baa3 or lower

                        	
                            
                            15.00 basis points

                        

            

             

            
            If there is a difference of one rating level between the Parent S&P
            Rating and the Parent Moody’s Rating, the Applicable Commitment Fee Rate shall be
            determined based on the higher rating. If there is a difference of two or more rating
            levels between the Parent S&P Rating and the Parent Moody’s Rating, the
            Applicable Commitment Fee Rateshall be determined based on the
            intermediate rating levels at the midpoint between such Parent S&P Rating and such
            Parent Moody’s Rating (or, if there is no midpoint, the higher intermediate
            level). If there is no Parent S&P Rating, then the Applicable Commitment Fee Rate
            shall be determined based on the Parent Moody’s Rating, or if there is no Parent
            Moody’s Rating, then the Applicable Commitment Fee Rate shall be determined based
            on the Parent S&P Rating. If (i) there is no Parent S&P Rating and no
            Parent Moody’s Rating or (ii) an Event of Default has occurred and is
            continuing, the Applicable Commitment Fee Rateshall be the
            highest rate per annum indicated therefor in the above table. The Parent S&P Rating
            and the Parent Moody’s Rating in effect on any date for purposes of determining
            the Applicable Commitment Fee Rate shall be that Parent S&P Rating and Parent
            Moody’s Rating in effect at the close of business on such date. Each change in
            the Applicable Commitment Fee Rate resulting from a publicly announced change in the
            Parent S&P Rating and/or the Parent Moody’s Rating shall be effective during
            the period commencing on the date of the public announcement thereof and ending on the
            date immediately preceding the effective date of the next change.

            
            “Applicable Lending
            Office” means, with respect to each Lender, the office
            or offices designated by such Lender to the Administrative Agent as such Lender’s
            lending office or offices for purposes of this Agreement.

            
            “Applicable
            Margin” means, on any date of determination, a rate
            that is determined, based upon the Parent S&P Rating or the Parent Moody’s
            Rating, as follows:

             

             

            
                	
                            
                            

                        	
                            
                            3

                        

            

             

            
            

            

             

             

            
                	
                            
                            Level

                        	
                            
                            Parent S&P Rating

                        	
                            
                            Parent Moody’s Rating

                        	
                            
                            Applicable Margin for Eurodollar Loans

                        
	
                            
                            1

                        	
                            
                            A+ or higher

                        	
                            
                            A1 or higher

                        	
                            
                            20.0 basis points

                        
	
                            
                            2

                        	
                            
                            A

                        	
                            
                            A2

                        	
                            
                            25.00 basis points

                        
	
                            
                            3

                        	
                            
                            A-

                        	
                            
                            A3

                        	
                            
                            30.00 basis points

                        
	
                            
                            4

                        	
                            
                            BBB+

                        	
                            
                            Baa1

                        	
                            
                            35.00 basis points

                        
	
                            
                            5

                        	
                            
                            BBB

                        	
                            
                            Baa2

                        	
                            
                            45.00 basis points

                        
	
                            
                            6

                        	
                            
                            BBB- or lower

                        	
                            
                            Baa3 or lower

                        	
                            
                            60.00 basis points

                        

            

             

            
            If there is a difference of one rating level between the Parent S&P
            Rating and the Parent Moody’s Rating, the Applicable Margin shall be determined
            based on the higher rating. If there is a difference of two or more rating levels
            between the Parent S&P Rating and the Parent Moody’s Rating, the Applicable
            Margin shall be determined based on the intermediate rating levels at the midpoint
            between such Parent S&P Rating and such Parent Moody’s Rating (or, if there
            is no midpoint, the higher intermediate level). If there is no Parent S&P Rating,
            then the Applicable Margin shall be determined based on the Parent Moody’s
            Rating, or if there is no Parent Moody’s Rating, then the Applicable Margin shall
            be determined based on the Parent S&P Rating. If (i) there is no Parent
            S&P Rating and no Parent Moody’s Rating or (ii) an Event of Default has
            occurred and is continuing, the Applicable Marginshall be the
            highest rate per annum indicated therefor in the above table. The Parent S&P Rating
            and the Parent Moody’s Rating in effect on any date for purposes of determining
            the Applicable Margin shall be that Parent S&P Rating and Parent Moody’s
            Rating in effect at the close of business on such date. Each change in the Applicable
            Margin resulting from a publicly announced change in the Parent S&P Rating and/or
            the Parent Moody’s Rating shall be effective during the period commencing on the
            date of the public announcement thereof and ending on the date immediately preceding
            the effective date of the next change.

            
            “Approved
            Fund” means a fund that is administered or managed by a
            Lender or an Affiliate of a Lender.

            
            “Asset
            Sale” means the sale, transfer or other disposition
            (including by means of Sale and Lease-Back Transactions, and by means of mergers,
            consolidations, and liquidations of a corporation, partnership or limited liability
            company of the interests therein of the Parent or any of its Subsidiaries) by the
            Parent or any of its Subsidiaries to any Person of any of their respective
            assets, provided that the term Asset
            Sale specifically excludes any sales, transfers or other dispositions of inventory, or
            obsolete or excess furniture, fixtures, equipment or other property, real or personal,
            tangible or intangible, in each case in the ordinary course of business.

            
            “Assignment
            Agreement” means an Assignment Agreement substantially
            in the form of
            Exhibit E.

            
            “Augmenting
            Lender” has the meaning provided in Section
            2.1(b)(i).

            
            “Authorized
            Officer” means any of the following officers of any
            Borrower:  the Chief Executive Officer, the Chief Financial Officer, the
            President or the Treasurer, and for purposes other than the

             

             

            
                	
                            
                            

                        	
                            
                            4

                        

            

             

            
            

            

             

            
            delivery of the Compliance Certificate, such other Person as is
            authorized in writing to act on behalf of such Borrower and is acceptable to the
            Administrative Agent and for whom the Administrative Agent has received an incumbency
            certificate.

            
            “Bankruptcy
            Code” means Title 11 of the United States Code entitled
            “Bankruptcy,” as now or hereafter in effect, or any successor
            thereto.

            
            “Base
            Rate” means, for any period, a fluctuating interest
            rate per annum as shall be in effect from time to time which rate per annum shall at
            all times be equal to the greater of (a) the rate of interest established by KeyBank in
            Cleveland, Ohio, from time to time, as its prime rate, whether or not publicly
            announced, which interest rate may or may not be the lowest rate charged by it for
            commercial loans or other extensions of credit; and (b) the Federal Funds Effective
            Rate in effect from time to time, determined one Business Day in arrears,
            plus 1/2 of 1% per annum.

            
            “Base Rate
            Loan” means each Loan bearing interest at a rate based
            upon the Base Rate.

            
            “Borrower”
            has the meaning provided in the first paragraph of this Agreement.

            
            “Borrower
            Payment” has the meaning provided in Section
            2.11.

            
            “Borrowing”
            means (i) the incurrence of Revolving Loans consisting of one Type of Loan, by the
            Borrowers from all of the Lenders on a pro rata
            basis on a given date (or resulting from Conversions or Continuations on
            a given date), having in the case of Eurodollar Loans the same Interest Period, or
            (ii) the incurrence of a Swing Line Loan.

            
            “Business
            Day” means, (a) for all purposes other than as covered
            by clause (b) below, any day that is not a Saturday, Sunday or day on which commercial
            banks in the city in which the Payment Office is located are authorized or required by
            law or other governmental actions to close and (b) with respect to all notices and
            determinations in connection with, and payments of principal and interest on,
            Eurodollar Loans, any day that is a Business Day described in clause (a) and that is
            also a day for trading by and between banks in Dollar deposits in the London interbank
            market.

            
            “Capital
            Lease” means, as applied to any Person, any lease of
            any property (whether real, personal or mixed) by such Person, as lessee, that, in
            conformity with GAAP, is accounted for as a capital lease on the balance sheet of that
            Person.

            
            “Capitalized Lease
            Obligations” means all obligations under Capital Leases
            of the Parent or any of its Subsidiaries in each case taken at the amount thereof
            accounted for as liabilities and identified as “capital lease obligations”
            (or any similar words) on a consolidated balance sheet of the Parent and its
            Subsidiaries prepared in accordance with GAAP.

            
            “Cash
            Equivalents” means any of the following:

            
            (a)        securities issued or
            directly and fully guaranteed or insured by the United States of America or any agency
            or instrumentality thereof (provided
            that the full faith and credit of the United States of America is
            pledged in support thereof) having maturities of not more than one year from the date
            of acquisition;

            
            (b)       Dollar denominated time
            deposits, certificates of deposit and bankers’ acceptances of (i) any Lender or
            (ii) any bank whose short-term commercial paper rating from S&P is at least A-1 or
            the equivalent thereof or from Moody’s is at least P-1 or the
            equivalent

            
             

             

            
                	
                            
                            

                        	
                            
                            5

                        

            

            
             

            
            

            

            
             

            
            thereof (any such bank, an “Approved
            Bank”), in each case with maturities of not more than
            180 days from the date of acquisition;

            
            (c)        commercial paper
            issued by any Lender or Approved Bank or by the parent company of any Lender or
            Approved Bank and commercial paper issued by, or guaranteed by, any industrial or
            financial company with a short- term commercial paper rating of at least A-1 or the
            equivalent thereof by S&P or at least P-1 or the equivalent thereof by
            Moody’s, or guaranteed by any industrial company with a long term unsecured debt
            rating of at least A or A2, or the equivalent of each thereof, from S&P or
            Moody’s, as the case may be, and in each case maturing within 270 days after the
            date of acquisition;

            
            (d)       fully collateralized
            repurchase agreements entered into with any Lender or Approved Bank having a term of
            not more than 30 days and covering securities described in clause (a) above;

            
            (e)        investments in money
            market funds substantially all the assets of which are comprised of securities of the
            types described in clauses (a) through (d) above;

            
            (f)        investments in money
            market funds access to which is provided as part of “sweep” accounts
            maintained with a Lender or an Approved Bank;

            
            (g)       asset-backed securities
            issued by an issuer, or guaranteed by a guarantor, with a rating of AA or the
            equivalent thereof by S&P or Moody’s;

            
            (h)       auction rate or variable
            rate auction preferred stock issued by an issuer with a long-term unsecured debt rating
            of at least A3 or the equivalent from S&P or Moody’s, as the case may
            be;

            
            (i)        medium term notes or
            other debt securities issued by any industrial or financial issuer with a long-term
            unsecured debt rating of at least A3 or the equivalent thereof from S&P or A- or
            the equivalent thereof from Moody’s;

            
            (j)        securities issued by,
            or directly and fully guaranteed by, any foreign government with a rating of at least
            A2 or the equivalent thereof from S&P or A- or the equivalent thereof from
            Moody’s or by the World Bank’

            
            (k)       tax exempt variable rate
            demand notes issued by an issuer, or guaranteed by a guarantor, with a rating of at
            least Aa3 or the equivalent thereof from S&P or AA- or the equivalent thereof from
            Moody’s;

            
            (l)        tax and revenue
            anticipation notes, tax exempt bonds with maturities of 13 months or less or tax exempt
            auction-based variable rate notes, in each case, with a rating of at least A3 or the
            equivalent thereof from S&P or A-1 or the equivalent thereof from
            Moody’s;

            
            (m)       investments in industrial
            development revenue bonds that (i) “re-set” interest rates not less
            frequently than quarterly, (ii) are entitled to the benefit of a remarketing
            arrangement with an established broker dealer, and (iii) are supported by a direct pay
            letter of credit covering principal and accrued interest that is issued by an Approved
            Bank; and

            
            (n)       investments in pooled funds
            or investment accounts consisting of investments of the nature described in the
            foregoing clause (g).

             

             

            
                	
                            
                            

                        	
                            
                            6

                        

            

             

            
            

            

             

            
            “Central”
            has the meaning provided in the first paragraph of this Agreement.

            
            “CERCLA”
            means the Comprehensive Environmental Response, Compensation, and Liability Act of
            1980, as the same may be amended from time to time, 42 U.S.C. § 9601
            et seq.

            
            “Change of
            Control” means any of the following:

            
            (a)        during any 12-month
            period (or, if less, during the period beginning on the Closing Date and ending on the
            date of determination), individuals who at the beginning of such period constituted the
            Parent’s Board of Directors (together with any new directors whose election by
            the Parent’s Board of Directors or whose nomination for election by the
            Borrower’s shareholders was approved by a vote of a majority of the directors who
            either were directors at the beginning of such period or whose election or nomination
            was previously so approved) cease for any reason to constitute a majority of the Board
            of Directors of the Parent;

            
            (b)       any “person” or
            “group” (as such terms are used in Sections 13(d) and 14(d) of the
            1934 Act, 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 1934 Act, 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 20% or more of the equity securities of the Parent entitled to vote for
            members of the board of directors or equivalent governing body of the Parent 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); or

            
            (c)        the Parent ceases to
            own, directly or indirectly, 100% of the outstanding stock of Central and/or the
            Utility.

            
            “Closing
            Date” means the date on which the conditions specified
            in Section 6.1 are satisfied.

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

            
            “Commitment”
            means, with respect to each Lender, its Revolving Commitment, if any, or its Swing Line
            Commitment, if any, or any or all of such Commitments of a Lender, as
            applicable.

            
            “Commitment
            Fees” has the meaning provided in Section
            4.1(a).

            
            “Compliance
            Certificate” means a certificate, substantially in the
            form of the attached Exhibit
            C.

            
            “Consolidated Net
            Worth” means, at any time, all amounts that, in
            conformity with GAAP, would be included under the caption “total
            stockholders’ equity” (or any like caption) on a consolidated balance sheet
            of the Parent as of such date, provided
            that in no event shall Consolidated Net Worth include any amounts in
            respect of Redeemable Stock.

            
            “Consolidated Tangible
            Assets” means at any time the consolidated total assets
            of the Parent and its Subsidiaries calculated on a consolidated basis as of such time,
            but excluding therefrom goodwill, patents, patent applications, permits, trademarks,
            trade names, copyrights, licenses, franchises, experimental expense, organizational
            expense, unamortized debt discount and expense, the excess of cost

             

             

            
                	
                            
                            

                        	
                            
                            7

                        

            

             

            
            

            

             

            of
            shares acquired over book value of related assets and such other assets that are
            properly classified as “intangible assets” in accordance with
            GAAP.

            
            “Consolidated Total
            Capitalization” means the sum of Consolidated Total
            Debt and Consolidated Net Worth.

            
            “Consolidated Total
            Debt” means the sum (without duplication) of all
            Indebtedness of the Parent and of each of its Subsidiaries, all as determined on a
            consolidated basis.

            
            “Continue”,
            “Continuation” and
            “Continued” each refers
            to a continuation of Eurodollar Loans for an additional Interest Period as provided in
            Section 2.2.

            
            “Convert”,
            “Conversion” and
            “Converted” each refers
            to a conversion of Loans of one Type into Loans of another Type, pursuant to Section
            2.2.

            
            “Credit
            Documents” means this Agreement, the Notes, if any, the
            Agent Fee Letter and any Letter of Credit Document.

            
            “Credit
            Event” means any Borrowing, Conversion, Continuation or
            the issuance of any Letter of Credit or amendment to any Letter of Credit Document that
            increases the Stated Amount of any Letter of Credit, or renews or extends the expiry
            date of any Letter of Credit.

            
            “Credit
            Party” means any of each Borrower and any other
            Subsidiary or affiliate of any Borrower that is or hereafter becomes a party to any
            Credit Document.

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

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

            
            “Dollars”
            and the sign “$” each
            means lawful money of the United States.

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

            
            “Energy-Related
            Business” means any business engaged in or directly
            related to: (a) the production, sale, brokerage, management, transportation,
            delivery or other provision of energy products, including but not limited to,
            electricity, natural gas, oil, coal, propane and renewable energy producing materials,
            (b) the provision of energy conservation services, including, but not limited to,
            energy audits, installation of energy conservation devices, energy efficient equipment
            and related systems, (c) the provision of services and equipment in connection
            with the procurement of such energy products or conservation of energy,
            (d) engineering, consulting, construction, operational or maintenance services in
            connection with such energy products, the conservation of energy or with equipment
            utilizing such energy products or (e) the manufacturing of equipment used in
            connection with energy production or conservation.

             

             

            
                	
                            
                            

                        	
                            
                            8

                        

            

             

            
            

            

             

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

            
            “Environmental
            Law” means any applicable Federal, state, foreign or
            local statute, law, rule, regulation, ordinance, code, binding and enforceable
            guideline, binding and enforceable written policy and rule of common law now or
            hereafter in effect and in each case as amended, and any binding and enforceable
            judicial or administrative interpretation thereof, including, without limitation, any
            judicial or administrative order, consent, decree or judgment issued to or rendered
            against the Parent or any of its Subsidiaries relating to the environment, employee
            health and safety or Hazardous Materials, including, without limitation, CERCLA; RCRA;
            the Federal Water Pollution Control Act, 33 U.S.C. § 1251
            et seq.; the Clean Air Act, 42
            U.S.C. § 7401 et seq.;
            the Safe Drinking Water Act, 42 U.S.C. § 300f et
            seq.; the Oil Pollution Act of 1990, 33 U.S.C. §
            2701 et seq.; the Emergency
            Planning and the Community Right-to-Know Act of 1986, 42 U.S.C. § 11001
            et seq., the Hazardous Material
            Transportation Act, 49 U.S.C. § 5101 et
            seq. and the Occupational Safety and Health Act, 29
            U.S.C. § 651 et seq. (to
            the extent it regulates occupational exposure to Hazardous Materials); and any state
            and local or foreign counterparts or equivalents, in each case as amended from time to
            time.

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

            
            “ERISA
            Affiliate” means each Person (as defined in
            Section 3(9) of ERISA) that together with the Parent or a Subsidiary of the Parent
            would be deemed to be a “single employer” (a) within the meaning of
            Section 414(b), (c), (m) or (o) of the Code or (b) as a result of the Parent or a
            Subsidiary of the Parent being or having been a general partner of such
            Person.

            
            “Eurodollar
            Loans” means each Loan bearing interest at a rate based
            on the Adjusted Eurodollar Rate.

            
            “Event of
            Default” has the meaning provided in Section
            10.1.

            
            “Exemption
            Certificate” has the meaning provided in Section
            5.5(b)(ii).

            
            “Facility”
            means the Revolving Facility, the Swing Line Facility, or both of them, as
            applicable.

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

            
            “Fees”
            means all amounts payable pursuant to, or referred to in, Section 4.1, together with
            any other fees payable pursuant to this Agreement or any other Credit
            Document.

             

             

            
                	
                            
                            

                        	
                            
                            9

                        

            

             

            
            

            

             

            
            “Financial
            Projections” has the meaning provided in Section
            7.7(b).

            
            “FPA”
            means the Federal Power Act, as amended, and all rules and regulations promulgated
            thereunder.

            
            “Fronting
            Fee” has the meaning provided in Section
            4.1(c).

            
            “GAAP”
            means generally accepted accounting principles in the United States of America as in
            effect from time to time.

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

            
            “Guaranty
            Obligations” means as to any Person (without
            duplication) any obligation of such Person guaranteeing any Indebtedness
            (“primary Indebtedness”)
            of any other Person (the “primary
            obligor”) in any manner, whether directly or
            indirectly, including, without limitation, any obligation of such Person, whether or
            not contingent, (a) to purchase any such primary Indebtedness or any property
            constituting direct or indirect security therefor, (b) to advance or supply funds (i)
            for the purchase or payment of any such primary Indebtedness or (ii) to maintain
            working capital or equity capital of the primary obligor or otherwise to maintain the
            net worth or solvency of the primary obligor, (c) to purchase property, securities
            or services primarily for the purpose of assuring the owner of any such primary
            Indebtedness of the ability of the primary obligor to make payment of such primary
            Indebtedness, or (d) otherwise to assure or hold harmless the owner of such
            primary Indebtedness against loss in respect thereof,
            provided, however, that the term Guaranty
            Obligation shall not include endorsements of instruments for deposit or collection in
            the ordinary course of business. The amount of any Guaranty Obligation shall be deemed
            to be an amount equal to the stated or determinable amount of the primary Indebtedness
            in respect of which such Guaranty Obligation is made or, if not stated or determinable,
            the maximum reasonably anticipated liability in respect thereof (assuming such Person
            is required to perform thereunder) as determined by such Person in good
            faith.

            
            “Hazardous
            Materials” means (a) any petrochemical or petroleum
            products, radioactive materials, asbestos in any form that is or could become friable,
            urea formaldehyde foam insulation, transformers or other equipment that contain
            dielectric fluid containing levels of polychlorinated biphenyls, and radon gas; and (b)
            any chemicals, materials or substances defined as or included in the definition of
            “hazardous substances”, “hazardous wastes”, “hazardous
            materials”, “restricted hazardous materials”, “extremely
            hazardous wastes”, “restrictive hazardous wastes”, “toxic
            substances”, “toxic pollutants”, “contaminants” or
            “pollutants”, or words of similar meaning and regulatory effect, under any
            applicable Environmental Law.

            
            “Increasing
            Lender” has the meaning provided in
            Section 2.1(b)(i).

            
            “Indebtedness”
            means, with respect to any Person, all of the following (without
            duplication):

            
                	
                            
                             

                        	
                            
                            (a)

                        	
                            
                            all indebtedness of such Person for borrowed
                            money;

                        

            

            
            (b)        all bonds, notes,
            debentures and similar debt securities of such Person;

            
            (c)        the deferred purchase
            price of capital assets or services that in accordance with GAAP would be shown on the
            liability side of the balance sheet of such Person;

             

             

            
                	
                            
                            

                        	
                            
                            10

                        

            

             

            
            

            

             

            
            (d)       the face amount of all
            letters of credit issued for the account of such Person and, without duplication, all
            drafts drawn thereunder;

            
            (e)        all obligations,
            contingent or otherwise, of such Person in respect of bankers’
            acceptances;

            
            (f)        all Indebtedness of a
            second Person secured by any Lien on any property owned by such first Person, whether
            or not such Indebtedness has been assumed;

            
            (g)        all Capitalized Lease
            Obligations of such Person;

            
            (h)       the present value,
            determined on the basis of the implicit interest rate, of all basic rental obligations
            under all Synthetic Leases of such Person;

            
            (i)        all obligations of
            such Person to pay a specified purchase price for goods or services whether or not
            delivered or accepted,
            i.e
            ., take-or-pay and similar obligations;

            
            (j)        all net obligations
            of such Person under Swap Agreements;

            
            (k)       the full outstanding
            balance of trade receivables, notes or other instruments sold with full recourse (and
            the portion thereof subject to potential recourse, if sold with limited recourse),
            other than in any such case any thereof sold solely for purposes of collection of
            delinquent accounts;

            
            (l)        the stated value, or
            liquidation value if higher, of all Redeemable Stock of such Person; and

            
            (m)        all Guaranty
            Obligations of such Person;

            
            provided, however, that (i) neither trade
            payables nor other similar accrued expenses, in each case arising in the ordinary
            course of business, nor obligations in respect of insurance policies or performance or
            surety bonds that themselves are not guarantees of Indebtedness (nor drafts,
            acceptances or similar instruments evidencing the same nor obligations in respect of
            letters of credit supporting the payment of the same), shall constitute Indebtedness;
            and (ii) the Indebtedness of any Person shall in any event include (without
            duplication) the Indebtedness of any other entity (including any general partnership in
            which such Person is a general partner) to the extent such Person is liable thereon as
            a result of such Person’s ownership interest in or other relationship with such
            entity, except to the extent the terms of such Indebtedness provide expressly that such
            Person is not liable thereon.

            
            “Interest
            Period” means, with respect to each Eurodollar Loan, a
            period of one, two, three or six months as selected by a Borrower,
            provided that (a) the initial Interest
            Period for any Borrowing of Eurodollar Loans shall commence on the date of such
            Borrowing (the date of a Borrowing resulting from a Conversion or Continuation shall be
            the date of such Conversion or Continuation) and each Interest Period occurring
            thereafter in respect of such Borrowing shall commence on the day on which the next
            preceding Interest Period expires; (b) if any Interest Period begins on a day for which
            there is no numerically corresponding day in the calendar month at the end of such
            Interest Period, such Interest Period shall end on the last Business Day of such
            calendar month; (c) if any Interest Period would otherwise expire on a day that is not
            a Business Day, such Interest Period shall expire on the next succeeding Business Day,
            provided that if any Interest Period would otherwise expire on a day that is not a
            Business Day but is a day of the month after which no further Business Day occurs in
            such month, such Interest Period shall expire on the next preceding Business Day; (d)
            no Interest Period for any Eurodollar

             

             

            
                	
                            
                            

                        	
                            
                            11

                        

            

             

            
            

            

             

            
            Loan may be selected that would end after the Maturity Date; and (e) if,
            upon the expiration of any Interest Period, the Borrowers have failed to (or may not)
            elect a new Interest Period to be applicable to the respective Borrowing of Eurodollar
            Loans as provided above, the Borrowers shall be deemed to have elected to Convert such
            Borrowing to a Base Rate Loan effective as of the expiration date of such current
            Interest Period.

            
            “Investment”
            means (a) any direct or indirect purchase or other acquisition by the Parent or any of
            its Subsidiaries of any of the capital stock or other equity interest of any other
            Person, including any partnership or joint venture interest in such Person;
            (b) any loan or advance to, guarantee or assumption of debt or purchase or other
            acquisition of any other debt of, any Person by the Parent or any of its Subsidiaries;
            or (c) any purchase or other acquisition (in one transaction or a series of
            transactions) of assets of another Person that constitute a business unit or all or a
            substantial part of the business of, such Person.

            
            “KeyBank”
            means KeyBank National Association, a national banking association, together with its
            successors and assigns.

            
            “Leaseholds”
            means, with respect to any Person, all the right, title and interest of such Person as
            lessee or licensee in, to and under leases or licenses of land, improvements and/or
            fixtures.

            
            “Lenders”
            means the Persons listed on Annex I
            and any other Person that becomes a party hereto pursuant to an
            Assignment Agreement, other than any such Person that ceases to be a party hereto
            pursuant to an Assignment Agreement and any Augmenting Lender. Unless the context
            otherwise requires, the term
            “Lenders” includes the
            Swing Line Lender.

            
            “Lender
            Default” means (a) the refusal (which has not been
            retracted) of a Lender in violation of the requirements of this Agreement to make
            available its portion of any incurrence of Loans or (b) a Lender having notified
            the Administrative Agent and/or the Borrowers that it does not intend to comply with
            the obligations under Section 2.1, in the case of either (a) or (b) as a result of
            the appointment of a receiver or conservator with respect to such Lender at the
            direction or request of any regulatory agency or authority.

            
            “Lender
            Register” has the meaning provided in Section
            12.15.

            
            “Letter of
            Credit” has the meaning provided in Section
            3.1(a).

            
            “Letter of Credit Commitment
            Amount” means $75,000,000.

            
            “Letter of Credit
            Documents” has the meaning specified in Section
            3.2(a).

            
            “Letter of Credit
            Fee” has the meaning provided in Section
            4.1(b).

            
            “Letter of Credit
            Issuer” means (i) KeyBank or any of its Affiliates, or
            (ii) if KeyBank is unable or unwilling to issue any given Letter of Credit, such other
            Lender that is requested, and agrees, to so act by the Borrower, and is approved by the
            Administrative Agent, which approval shall not be unreasonably withheld or
            delayed.

            
            “Letter of Credit
            Obligor” has the meaning provided in Section
            3.1(a).

             

             

            
                	
                            
                            

                        	
                            
                            12

                        

            

             

            
            

            

             

            
            “Letter of Credit
            Outstandings” means, at any time, the sum, without
            duplication, of (i) the aggregate Stated Amount of all outstanding Letters of Credit
            and (ii) the aggregate amount of all Unpaid Drawings.

            
            “Letter of Credit
            Request” has the meaning provided in Section
            3.2(a).

            
            “Lien”
            means any mortgage, pledge, security interest, encumbrance, lien or charge of any kind
            (including any agreement to give any of the foregoing, any conditional sale or other
            title retention agreement or any lease in the nature thereof).

            
            “Loan”
            has the meaning provided in Section 2.1.

            
            “Margin
            Stock” has the meaning provided in Regulation
            U.

            
            “Material Adverse
            Effect” means any or all of the following: (a) a
            material adverse effect on the business, operations, property, assets, liabilities,
            financial or other condition, or prospects of the Parent and/or any of its
            Subsidiaries, the Parent and its Subsidiaries, taken as a whole, or when used with
            reference to any other Person, such Person and its Subsidiaries, taken as a whole, as
            the case may be; (b) a material adverse effect on the ability of any Borrower or
            any other Credit Party to perform its obligations under the Credit Documents to which
            it is a party; (c) a material adverse effect on the ability of the Parent and its
            Subsidiaries, taken as a whole, to pay their liabilities and obligations as they mature
            or become due; or (d) a material adverse effect on the validity, effectiveness or
            enforceability, as against any Credit Party, of any of the Credit Documents to which it
            is a party.

            
            “Maturity
            Date” means February 21, 2013, or such earlier date on
            which the Total Commitment is terminated as provided herein.

            
            “Minimum Borrowing
            Amount” means (a) for Base Rate Loans, $1,000,000, with
            minimum increments thereafter of $500,000, (b) for Eurodollar Loans, $4,000,000, with
            minimum increments thereafter of $500,000, and (c) for Swing Line Loans, $500,000,
            with minimum increments thereafter of $100,000.

            
            “Moody’s”
            means Moody’s Investors Service, Inc. and its successors.

            
            “Moody’s
            Rating” means, with respect to any Person, the rating
            accorded to such Person’s senior unsecured long-term debt by
            Moody’s.

            
            “Multiemployer
            Plan” means a multiemployer plan, as defined in Section
            4001(a)(3) of ERISA to which the Borrowers or any ERISA Affiliate is making or accruing
            an obligation to make contributions or has within any of the preceding three plan years
            made or accrued an obligation to make contributions.

            
            “Multiple Employer
            Plan” means an employee benefit plan, other than a
            Multiemployer Plan, to which the Borrowers or any ERISA Affiliate, and one or more
            employers other than the Parent or any of its Subsidiaries or an ERISA Affiliate, is
            making or accruing an obligation to make contributions or, if any such plan has been
            terminated, to which the Borrowers or an ERISA Affiliate made or accrued an obligation
            to make contributions during any of the five plan years preceding the date of
            termination of such plan.

            
            “1934
            Act” means the Securities Exchange Act of 1934, as
            amended.

            
            “Non-Consenting
            Lender” has the meaning provided in Section
            2.8(b).

             

             

            
                	
                            
                            

                        	
                            
                            13

                        

            

             

            
            

            

             

            
            “Non-Defaulting
            Lender” means each Lender other than a Defaulting
            Lender.

            
            “Note”
            means a Revolving Note or a Swing Line Note, as applicable.

            
            “Notice of Borrowing, Continuation or
            Conversion” has the meaning provided in Section
            2.2(b).

            
            “Notice of Swing Line
            Refunding” has the meaning provided in
            Section 2.9(a).

            
            “Notice
            Office” means the office of the Administrative Agent at
            127 Public Square, Cleveland, Ohio 44114, Attention: Yvette Dyson-Owens (facsimile:
            (216) 689-5962), or such other office of the Administrative Agent, as the
            Administrative Agent may designate in writing to the Borrowers from time to
            time.

            
            “Obligations”
            means all amounts, direct or indirect, contingent or absolute, of every type or
            description, and at any time existing, owing by any Borrower or any other Credit Party
            to the Administrative Agent, any Lender or any Letter of Credit Issuer pursuant to the
            terms of this Agreement or any other Credit Document (including, but not limited to,
            interest and fees that accrue after the commencement by or against any Credit Party of
            any insolvency proceeding, regardless of whether such interest and fees are allowed
            claims in such proceeding and any and all indemnification obligations
            hereunder).

            
            “Operating
            Lease” means, with respect to any Person, any lease of
            any property (whether real, personal or mixed) by such Person as lessee that, in
            conformity with GAAP, is not accounted for as a Capital Lease on the balance sheet of
            such Person.

            
            “Original Credit
            Agreement” has the meaning provided in the recitals of
            this Agreement.

            
            “Parent”
            has the meaning provided in the first paragraph of this Agreement.

            
            “Parent Moody’s
            Rating” means, on any date of determination, the
            Moody’s Rating of Parent or, if the Moody’s Rating of Parent is not
            available on such date, then the Parent Moody’s Rating shall be deemed to be the
            Moody’s Rating that is one level below the Moody’s Rating of the Utility on
            such date.

            
            “Parent S&P
            Rating” means, on any date of determination, the
            S&P Rating of Parent or, if the S&P Rating of Parent is not available on such
            date, then the Parent S&P Rating shall be deemed to be the S&P Rating that is
            one level below the S&P Rating of the Utility on such date.

            
            “Participant”
            has the meaning provided in Section 3.4(a).

            
            “Payment
            Office” means the office of the Administrative Agent at
            127 Public Square, Cleveland, Ohio 44114, Attention: Yvette Dyson-Owens (facsimile:
            (216) 689-5962), or such other office of the Administrative Agent, as the
            Administrative Agent may designate in writing to the Borrowers from time to
            time.

            
            “PBGC”
            means the Pension Benefit Guaranty Corporation established pursuant to
            Section 4002 of ERISA, or any successor thereto.

            
            “Permitted
            Acquisition” means and includes any Acquisition as to
            which all of the following conditions are satisfied: (a) such Acquisition (i)
            involves a line or lines of an Energy-Related Business, and (ii) involves a Person or a
            line or lines of business that is or are located and operated in North America;
            (b) no Default or Event of Default shall exist prior to or immediately after
            giving effect to such

             

             

            
                	
                            
                            

                        	
                            
                            14

                        

            

             

            
            

            

             

            
            Acquisition; (c) such Acquisition is not being consummated on a
            hostile basis and has been approved by the Board of Directors of the target Person and
            no material challenge to such Acquisition shall be pending or threatened by any
            shareholder or director of the seller or Person to be acquired, and (d) as of the date
            of the consummation of such Acquisition, all material approvals required in connection
            therewith shall have been obtained.

            
            “Permitted
            Liens” means Liens permitted by Section 9.3.

            
            “Person”
            means any individual, partnership, joint venture, firm, corporation, limited liability
            company, association, trust or other entity or any government or political subdivision
            or any agency, department or instrumentality thereof.

            
            “Plan”
            means any multiemployer or single-employer plan as defined in Section 4001 of ERISA,
            that is maintained or contributed to by (or to which there is an obligation to
            contribute by) the Parent or a Subsidiary of the Parent or an ERISA Affiliate, and each
            such plan for the five year period immediately following the latest date on which the
            Parent, or a Subsidiary of the Parent or an ERISA Affiliate maintained, contributed to
            or had an obligation to contribute to such plan.

            
            “Prohibited
            Transaction” means a transaction with respect to a Plan
            that is prohibited under Section 4975 of the Code or Section 406 of ERISA and not
            exempt under Section 4975 of the Code or Section 408 of ERISA.

            
            “Purchase
            Date” has the meaning provided in Section
            2.9(b).

            
            “Quoted
            Rate” has the meaning provided in
            Section 2.2(e).

            
            “RCRA”
            means the Resource Conservation and Recovery Act, as the same may be amended from time
            to time, 42 U.S.C. § 6901 et
            seq.

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

            
            “Redeemable
            Stock” means, with respect to any Person, any capital
            stock or similar equity interests of such Person that (a) is by its terms subject to
            mandatory redemption, in whole or in part, pursuant to a sinking fund, scheduled
            redemption or similar provisions, at any time prior to the latest Maturity Date; or (b)
            otherwise is required to be repurchased or retired on a scheduled date or dates, upon
            the occurrence of any event or circumstance, at the option of the holder or holders
            thereof, or otherwise, at any time prior to the latest Maturity Date under this
            Agreement, other than any such repurchase or retirement occasioned by a “change
            of control” or similar event.

            
            “Reference
            Banks” means (a) KeyBank and (b) any other Lender or
            Lenders selected as a Reference Bank by the Administrative Agent.

            
            “Regulation
            D” means Regulation D of the Board of Governors of the
            Federal Reserve System as from time to time in effect and any successor to all or a
            portion thereof establishing reserve requirements.

            
            “Regulation
            U” means Regulation U of the Board of Governors of the
            Federal Reserve System as from time to time in effect and any successor to all or a
            portion thereof establishing margin requirements.

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

             

             

            
                	
                            
                            

                        	
                            
                            15

                        

            

             

            
            

            

             

            
            “Reportable
            Event” means an event described in Section 4043 of
            ERISA or the regulations thereunder with respect to a Plan, other than those events as
            to which the notice requirement is waived under subsections .22, .23, .25, .27,
            .28, .29, .30, .31, .32, .34, .35, .62, .63, .64, .65 or .67 of PBGC Regulation Section
            4043.

            
            “Required
            Lenders” means Non-Defaulting Lenders whose outstanding
            Loans and Unutilized Commitments constitute at least 51% of the sum of the total
            outstanding Loans and Unutilized Commitments of Non-Defaulting Lenders.

            
            “Revolving
            Borrowing” means the incurrence of Revolving Loans
            consisting of one Type of Loan, by the Borrowers from all of the Lenders having
            Commitments in respect thereof on a pro rata
            basis on a given date (or resulting from Conversions or Continuations on
            a given date), having in the case of Eurodollar Loans the same Interest
            Period.

            
            “Revolving
            Commitment” means, with respect to each Lender, the
            amount, if any, set forth opposite such Lender’s name on
            Annex I as its “Revolving
            Commitment” as the same may be reduced from time to time pursuant to Section 4.2,
            4.3 and/or 10.2, increased pursuant to Section 2.1(b), and/or adjusted from time to
            time as a result of assignments to or from such Lender pursuant to Section
            12.4.

            
            “Revolving
            Facility” means the credit facility evidenced by the
            Total Revolving Commitment.

            
            “Revolving Facility
            Percentage” means, at any time for any Lender with a
            Revolving Commitment, the percentage obtained by dividing such Lender’s Revolving
            Commitment by the Total Revolving Commitment,
            provided, that if the Total Revolving
            Commitment has been terminated, the Revolving Facility Percentage for each Lender shall
            be determined by dividing such Lender’s Revolving Commitment immediately prior to
            such termination by the Total Revolving Commitment immediately prior to such
            termination.

            
            “Revolving
            Loan” has the meaning provided in Section
            2.1(a).

            
            “Revolving
            Note” has the meaning provided in Section
            2.4(d)(i).

            
            “S&P”
            means Standard & Poor’s Ratings Group, a division of McGraw Hill, Inc., and
            its successors.

            
            “S&P
            Rating” means, with respect to any Person, the rating
            accorded to such Person’s senior unsecured long-term debt by S&P.

            
            “Sale and Lease-Back
            Transaction” means any arrangement with any Person
            providing for the leasing by the Parent or any Subsidiary of the Parent of any property
            (except for temporary leases for a term, including any renewal thereof, of not more
            than one year and except for leases between the Parent and a Subsidiary or between
            Subsidiaries), which property has been or is to be sold or transferred by the Parent or
            such Subsidiary to such Person.

            
            “SEC”
            means the United States Securities and Exchange Commission.

            
            “SEC Regulation
            D” means Regulation D as promulgated under the
            Securities Act of 1933, as amended, as the same may be in effect from time to
            time.

             

             

            
                	
                            
                            

                        	
                            
                            16

                        

            

             

            
            

            

             

            
            “Settlement
            Agreement” means the amended and restated settlement
            agreement dated January 2, 1998 among the Staff of the New York Public Service
            Commission, the Utility and others, as adopted by the New York Public Service
            Commission in Opinion No. 98-14, issued and effective June 30, 1998.

            
            “Standard Permitted
            Liens” means the following:

            
            (a)        Liens for taxes,
            assessments or governmental charges not yet delinquent or Liens for taxes, assessments
            or governmental charges being contested in good faith and by appropriate proceedings
            for which adequate reserves in accordance with GAAP have been established;

            
            (b)       Liens in respect of
            property or assets imposed by law that were incurred in the ordinary course of
            business, such as carriers’, warehousemen’s, materialmen’s and
            mechanics’ Liens and other similar Liens arising in the ordinary course of
            business, that do not in the aggregate materially detract from the value of such
            property or assets or materially impair the use thereof in the operation of the
            business of the Parent or any of its Subsidiaries and do not secure any
            Indebtedness;

            
            (d)       Liens arising from
            judgments, decrees or attachments in circumstances not constituting an Event of Default
            under Section 10.1(g);

            
            (e)        Liens (other than any
            Lien imposed by ERISA) incurred or deposits made in the ordinary course of business in
            connection with workers’ compensation, unemployment insurance and other types of
            social security; and mechanic’s Liens, carrier’s Liens, and other Liens to
            secure the performance of tenders, statutory obligations, contract bids, government
            contracts, performance and return-of-money bonds and other similar obligations,
            incurred in the ordinary course of business (exclusive of obligations in respect of the
            payment for borrowed money), whether pursuant to statutory requirements, common law or
            consensual arrangements;

            
            (f)        Leases or subleases
            granted in the ordinary course of business to others not interfering in any material
            respect with the business of the Parent or any of its Subsidiaries and any interest or
            title of a lessor under any lease not in violation of this Agreement;

            
            (g)       easements, rights-of-way,
            zoning or other restrictions, charges, encumbrances, defects in title, prior rights of
            other Persons, and obligations contained in similar instruments, in each case that do
            not involve, and are not likely to involve at any future time, either individually or
            in the aggregate, (i) a substantial and prolonged interruption or disruption of the
            business activities of the Parent and its Subsidiaries considered as an entirety, or
            (ii) a Material Adverse Effect;

            
            (h)       Liens arising from the
            rights of lessors under leases (including financing statements regarding property
            subject to lease) permitted under this Agreement,
            provided that such Liens are only in
            respect of the property subject to, and secure only, the respective lease (and any
            other lease with the same or an affiliated lessor); and

            
            (i)        rights of consignors
            of goods, whether or not perfected by the filing of a financing statement under the
            UCC.

            
            “Stated
            Amount” of each Letter of Credit means the maximum
            amount available to be drawn thereunder (regardless of whether any conditions or other
            requirements for drawing could then be met).

             

             

            
                	
                            
                            

                        	
                            
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            “Subsidiary”
            means, with respect to any Person, (a) any corporation more than 50% of whose stock of
            any class or classes having by the terms thereof ordinary voting power to elect a
            majority of the directors of such corporation (irrespective of whether at the time
            stock of any class or classes of such corporation shall have or might have voting power
            by reason of the happening of any contingency) is at the time owned by such Person
            directly or indirectly through Subsidiaries and (b) any partnership, limited liability
            company, association, joint venture or other entity in which such Person directly or
            indirectly through Subsidiaries, has more than a 50% equity interest at the time or in
            which the Parent, one or more other Subsidiaries of the Parent, or the Parent and one
            or more Subsidiaries of the Parent, directly or indirectly, has the power to direct the
            policies, management and affairs thereof. Unless otherwise expressly
            provided, all references herein to
            “Subsidiary” shall mean a Subsidiary of the Parent.

            
            “Swap
            Agreement” means (a) any and all rate swap
            transactions, basis swaps, credit derivative transactions, forward rate transactions,
            commodity swaps, commodity options, forward commodity contracts, equity or equity index
            swaps or options, bond or bond price or bond index swaps or options or forward bond or
            forward bond price or forward bond index transactions, interest rate options, forward
            foreign exchange transactions, cap transactions, floor transactions, collar
            transactions, currency swap transactions, cross-currency rate swap transactions,
            currency options, spot contracts, or any other similar transactions or any combination
            of any of the foregoing (including any options to enter into any of the foregoing),
            irrespective of whether any such transaction is governed by or subject to any master
            agreement, and (b) any and all transactions of any kind, and the related
            confirmations, that are subject to the terms and conditions of, or governed by, any
            form of master agreement published by the International Swaps and Derivatives
            Association, Inc., any International Foreign Exchange Master Agreement, or any other
            master agreement (any such master agreement, together with any related schedules, a
            “Master Agreement”),
            including any such obligations or liabilities under any Master Agreement.

            
            “Swing Line
            Commitment” means $15,000,000, as the same may be
            reduced from time to time in accordance with the terms of this Agreement.

            
            “Swing Line
            Facility” means the credit facility evidenced by the
            Swing Line Commitment.

            
            “Swing Line
            Lender” means KeyBank, together with its successors and
            assigns.

            
            “Swing Line
            Loan” has the meaning provided in Section
            2.1(c).

            
            “Swing Line
            Note” has the meaning provided in Section
            2.4(d)(ii).

            
            “Swing Line Participation
            Amount” has the meaning provided in Section
            2.9(b).

            
            “Synthetic
            Lease” means any lease (a) that is accounted for by the
            lessee as an Operating Lease, and (b) under which the lessee is intended to be the
            “owner” of the leased property for Federal income tax purposes.

            
            “Taxes”
            has the meaning provided in Section 5.5.

            
            “Total
            Commitment” means the Total Revolving Commitment and
            the Swing Line Commitment.

            
            “Total Revolving
            Commitment” means the sum of the Revolving Commitments
            of the Lenders.

            
            “Type”
            means any type of Loan determined with respect to the interest option applicable
            thereto, i.e., a Base Rate Loan or
            Eurodollar Loan.

             

             

            
                	
                            
                            

                        	
                            
                            18

                        

            

             

            
            

            

             

            
            “UCC”
            means the Uniform Commercial Code as in effect from time to time. Unless otherwise
            specified, the UCC shall refer to the UCC as in effect in the State of New
            York.

            
            “Unfunded Current
            Liability” means, with respect to any Plan, the amount,
            if any, by which the actuarial present value of the accumulated plan benefits under the
            Plan as of the close of its most recent plan year exceeds the fair market value of the
            assets allocable thereto, each determined in accordance with Statement of Financial
            Accounting Standards No. 87, based upon the actuarial assumptions used by the
            Plan’s actuary in the most recent annual valuation of the Plan.

            
            “United
            States” and
            “U.S
            .” each means United States of America.

            
            “Unpaid
            Drawing” has the meaning provided in Section
            3.3(a).

            
            “Unutilized
            Commitment” means, at any time, with respect to any
            Lender, the excess of (a) such Lender’s Revolving Commitment at such time
            over (b) the sum of (i) the aggregate principal amount of outstanding Loans made by
            such Lender plus (ii) such Lender’s Revolving Facility Percentage of Letter of
            Credit Outstandings at such time.

            
            “Unutilized Revolving
            Commitment” means, at any time, with respect to any
            Lender, the excess of (a) such Lender’s Revolving Commitment at such time
            over (b) the sum of (i) the principal amount of outstanding Revolving Loans made by
            such Lender plus (ii) such Lender’s Revolving Facility Percentage of Letter of
            Credit Outstandings at such time.

            
            “Unutilized Total
            Commitment” means, at any time, the excess of (a) the
            Total Revolving Commitment at such time over (b) the sum of (i) the aggregate principal
            amount of all outstanding Loans plus (ii) the aggregate of Letter of Credit
            Outstandings at such time.

            
            “Unutilized Total Revolving
            Commitment” means, at any time, the excess of (a) the
            Total Revolving Commitment at such time over (b) the sum of (i) the aggregate principal
            amount of all outstanding Revolving Loans plus (ii) the aggregate amount of Letter of
            Credit Outstandings at such time.

            
            “Utility”
            means Central Hudson Gas & Electric Corporation, a New York corporation, together
            with its successors and assigns.

            
            “Wholly-Owned
            Subsidiary” means each Subsidiary of the Parent at
            least 95% of whose capital stock, equity interests and partnership interests, other
            than director’s qualifying shares or similar interests, are owned directly or
            indirectly by the Parent.

            
            Section 1.2.      
            Computation of Time Periods. In this
            Agreement 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 means “to but
            excluding,” and the word “through” means “through and
            including.”

            
            Section 1.3.      
            Accounting Terms. Except as otherwise
            specifically provided herein, all terms of an accounting or financial nature shall be
            construed in accordance with GAAP, as in effect from time to time.

            
            Section 1.4.      
            Terms Generally. The definitions of terms
            herein shall apply equally to the singular and plural forms of the terms defined.
            Whenever the context may require, any pronoun shall include the corresponding
            masculine, feminine and neuter forms. The words “include”,
            “includes” and “including” shall be deemed to be followed by
            the phrase “without limitation”. The word “will” shall
            be

             

             

            
                	
                            
                            

                        	
                            
                            19

                        

            

             

            
            

            

             

            
            construed to have the same meaning and effect as the word
            “shall”. Unless the context requires otherwise, (a) any definition of or
            reference to any agreement, instrument or other document herein shall be construed as
            referring to such agreement, instrument or other document as from time to time amended,
            restated, supplemented or otherwise modified (subject to any restrictions on such
            amendments, restatements, supplements or modifications set forth herein), (b) any
            reference herein to any Person shall be construed to include such Person’s
            successors and assigns, (c) the words “herein”, “hereof” and
            “hereunder”, and words of similar import, shall be construed to refer to
            this Agreement in its entirety and not to any particular provision hereof, (d) all
            references herein to Sections, Annexes, Schedules and Exhibits shall be construed to
            refer to Sections of, and Annexes, Schedules and Exhibits to, this Agreement, and (e)
            the words “asset” and “property” shall be construed to have the
            same meaning and effect and to refer to any and all Real Property, tangible and
            intangible assets and properties, including cash, securities, accounts and contract
            rights, and interests in any of the foregoing.

            
            ARTICLE II.

             

            
            AMOUNT AND TERMS OF LOANS

            
                	
                            
                             

                        	
                            
                            Section 2.1.

                        	
                            
                            Commitments for
                            Loans.

                        

            

            
            Subject to and upon the terms and conditions herein set forth, each
            Lender severally agrees to make a loan or loans (each a
            “Loan” and,
            collectively, the
            “Loans”) to the
            Borrowers, which Loans shall be drawn, to the extent such Lender has a commitment under
            a Facility for the Borrowers, under the applicable Facility, as set forth
            below:

            
            (a)        
            Revolving
            Facility.Loans under the Revolving
            Facility (each a “Revolving
            Loan” and, collectively, the
            “Revolving Loans”): (i)
            may be incurred by any Borrower at any time and from time to time on and after the
            Closing Date and prior to the Maturity Date; (ii) except as otherwise provided,
            may, at the option of any Borrower, be incurred and maintained as, or Converted into,
            Revolving Loans that are Base Rate Loans or Eurodollar Loans, in each case denominated
            in Dollars, provided that all
            Revolving Loans made as part of the same Revolving Borrowing shall, unless otherwise
            specifically provided herein, consist of Revolving Loans of the same Type; (iii) may be
            repaid or prepaid and reborrowed in accordance with the provisions hereof;
            (iv) may only be made if after giving effect thereto the aggregate principal
            amount of outstanding Loans and Letter of Credit Outstandings does not exceed the Total
            Revolving Commitment; and (v) shall not be made if, after giving effect to any
            such Loan, the sum of (i) the principal amount of Revolving Loans made by such Lender
            and outstanding at such time, and (ii) such Lender’s share of the Letter of
            Credit Outstandings at such time exceeds such Lender’s Revolving Commitment at
            such time. In addition, no Revolving Loans shall be incurred at any time if after
            giving effect thereto the Borrowers would be required to prepay Revolving Loans or cash
            collateralize Letter of Credit in accordance with Section 5.3(a).

            
                	
                            
                             

                        	
                            
                            (b)

                        	
                            
                            Increase in Commitments.
                             

                        

            

            
            (i)        Twice per calendar
            year the Borrowers may, by written notice to the Administrative Agent, request that the
            Total Revolving Commitment be increased by an amount not to exceed $25,000,000 in the
            aggregate for all such increases from the Closing Date until the Maturity Date,
            provided that no Default or Event of
            Default has occurred and is continuing at the time of such request and on the date of
            any such increase. The Administrative Agent shall deliver a copy of such request to
            each Lender. The Borrowers shall set forth in such request the amount of the requested
            increase in the Total Revolving Commitment (which shall be in minimum increments of
            $10,000,000 and a minimum amount of $10,000,000) and the date on which such increase is
            requested to become effective (which shall be not less than 10 Business Days nor
            more

            
             

             

            
                	
                            
                            

                        	
                            
                            20

                        

            

            
             

            
            

            

            
             

            
            than 60 days after the date of such notice and that, in any event, must
            be at least 360 days prior to the Maturity Date), and shall offer each Lender the
            opportunity to increase its Revolving Commitment by its Revolving Facility Percentage
            of the proposed increased amount. Each Lender shall, by notice to the Borrowers and the
            Administrative Agent given not more than 10 days after the date of the Administrative
            Agent’s notice, either agree to increase its Revolving Commitment by all or a
            portion of the offered amount (each such Lender so agreeing being an
            “Increasing Lender”) or
            decline to increase its Revolving Commitment (and any such Lender that does not deliver
            such a notice within such period of 10 days shall be deemed to have declined to
            increase its Revolving Commitment and each Lender so declining or being deemed to have
            declined being a “Non-Increasing
            Lender”). If, on the 10th day after the
            Administrative Agent shall have delivered notice as set forth above, the Increasing
            Lenders shall have agreed pursuant to the preceding sentence to increase their
            Revolving Commitments by an aggregate amount less than the increase in the Total
            Revolving Commitment requested by the Borrowers, the Borrowers may arrange for one or
            more banks or other entities that are Eligible Assignees (each such Person so agreeing
            being an “Augmenting
            Lender”), and the Borrowers and each Augmenting Lender
            shall execute all such documentation as the Administrative Agent shall reasonably
            specify to evidence its Revolving Commitment and/or its status as a Lender with a
            Revolving Commitment hereunder. Any increase in the Total Revolving Commitment may be
            made in an amount that is less than the increase requested by the Borrowers if the
            Borrowers are unable to arrange for, or choose not to arrange for, Augmenting
            Lenders.

            
            (ii)       Each of the parties hereto
            agrees that the Administrative Agent may take any and all actions as may be reasonably
            necessary to ensure that after giving effect to any increase in the Total Revolving
            Commitment pursuant to this Section 2.1(b), the outstanding Revolving Loans (if any)
            are held by the Lenders with Revolving Commitments in accordance with their new
            Revolving Facility Percentages. This may be accomplished at the discretion of the
            Administrative Agent:  (w) by requiring the outstanding Loans to be prepaid
            with the proceeds of new Borrowings; (x) by causing the Non-Increasing Lenders to
            assign portions of their outstanding Loans to Increasing Lenders and Augmenting
            Lenders; (y) by permitting the Borrowings outstanding at the time of any increase
            in the Total Revolving Commitment pursuant to this Section 2.1(b) to remain
            outstanding until the last days of the respective Interest Periods therefor, even
            though the Lenders would hold such Borrowings other than in accordance with their new
            Revolving Facility Percentages; or (z) by any combination of the
            foregoing.  Any prepayment or assignment described in this paragraph
            (ii) shall be subject to Section 2.7 hereof but otherwise without premium or
            penalty.

            
            (c)        
            Swing Line Facility. Loans to the Borrowers
            under the Swing Line Facility (each a “Swing Line
            Loan” and, collectively, the
            “Swing Line Loans”)
            (i) may be made at any time and from time to time on and after the Closing Date
            and prior to the Maturity Date; (ii) shall be made only in Dollars;
            (iii) shall have a maturity of 14 days or less as selected by the Borrowers;
            (iv) may be repaid or prepaid and reborrowed in accordance with the provisions
            hereof; (v) may only be made if after giving effect thereto the aggregate
            principal amount of outstanding (A) Loans and Letters of Credit Outstandings do not
            exceed the Total Revolving Commitment and (B) Swing Line Loans does not exceed the
            Swing Line Commitment; (vi) shall not exceed at any time outstanding the Swing
            Line Commitment; and (vii) shall not be made if the proceeds thereof would be used to
            repay, in whole or in part, any outstanding Swing Line Loan. In addition, no Swing Line
            Loans shall be incurred at any time if after giving effect thereto the Borrowers would
            be required to prepay Loans or cash collateralize Letters of Credit in accordance with
            Section 5.3.

            
                	
                            
                             

                        	
                            
                            Section 2.2.

                        	
                            
                            Borrowing, Continuation or Conversion of
                            Loans.

                        

            

             

             

            
                	
                            
                            

                        	
                            
                            21

                        

            

             

            
            

            

             

            
            (a)        
            Borrowings, Continuations and Conversions.
            Each Borrower may, in accordance with the provisions set forth in this Section and
            subject to the other terms and conditions of this Agreement, (i) request
            Borrowings, (ii) Convert all or a portion of the outstanding principal amount of Loans
            of one Type into a Borrowing or Borrowings of another Type of Loans that can be made
            pursuant to the Facility and (iii) Continue a Borrowing of Eurodollar Loans at the end
            of the applicable Interest Period as a new Borrowing of Eurodollar Loans with a new
            Interest Period, provided that
            (A) any Conversion of Eurodollar Loans into Base Rate Loans shall be made on, and
            only on, the last day of an Interest Period for such Eurodollar Loans, (B) Base Rate
            Loans may only be Converted into Eurodollar Loans if no Default under Section 10.1(a)
            or Event of Default is in existence on the date of the Conversion unless the Required
            Lenders otherwise agree, and (C) Base Rate Loans may not be Converted into Eurodollar
            Loans during any period when such Conversion is not permitted under Section
            2.6.

            
            (b)       
            Notice of Borrowings, Continuation and
            Conversion. Each Borrowing, Continuation or Conversion of a
            Loan shall be made upon notice in the form provided for below, which notice shall be
            provided by any Borrower to the Administrative Agent at the Notice Office not later
            than (i) in the case of each Borrowing or Continuation of or Conversion into a
            Eurodollar Loan, 12:00 noon (local time at its Notice Office) at least three Business
            Days’ prior to the date of such Borrowing, Continuation or Conversion, (ii) in
            the case of each Borrowing of or Conversion to a Base Rate Loan, 12:00 noon (local time
            at its Notice Office) on the proposed date of such Borrowing or Conversion and
            (iii) in the case of any Borrowing under the Swing Line Facility, prior to 11:00
            A.M. (local time at its Notice Office) on the proposed date thereof (which shall be
            within such period as the Administrative Agent shall have specified for such Quoted
            Rate) written or telephonic notice thereof (in the case of telephonic notice, promptly
            confirmed in writing if so requested by the Administrative Agent). Each such request
            shall be made by an Authorized Officer delivering written notice of such request
            substantially in the form of Exhibit B
            hereto (each such notice, a “Notice of
            Borrowing, Continuation or Conversion”) or by telephone
            (to be confirmed immediately in writing by delivery of an Authorized Officer of a
            Notice of Borrowing, Continuation or Conversion), and in any event each such request
            shall be irrevocable and shall specify (A) the aggregate principal amount of the Loans
            to be made (which shall be in the Minimum Borrowing Amount) pursuant to such Borrowing
            or, if applicable, the Borrowings to be Continued or Converted, (B) the date of the
            Borrowing, Continuation or Conversion (which shall be a Business Day), (C) whether
            the Borrowing will consist of Base Rate Loans, Eurodollar Loans or Swing Line Loans or,
            in the case of a Continuation or Conversion, the Loans to be Continued or Converted,
            (D) if the Borrowing consists of Swing Line Loans, the maturity date thereof
            (which shall not be more than 14 days), and (E) if applicable, the initial
            Interest Period thereto or, in the case of a Continuation, the new Interest Period. If
            the Borrowers fail to specify in a Notice of Borrowing, Continuation or Conversion the
            maturity date of any Swing Line Loans, such maturity date shall be deemed to be 14
            days. Without in any way limiting the obligation of the Borrowers to confirm in writing
            any telephonic notice permitted to be given hereunder, the Administrative Agent may act
            prior to receipt of written confirmation without liability upon the basis of such
            telephonic notice believed by the Administrative Agent in good faith to be from an
            Authorized Officer of any Borrower entitled to give telephonic notices under this
            Agreement on behalf of the Borrowers. In each such case, the Administrative
            Agent’s record of the terms of such telephonic notice shall be conclusive absent
            manifest error.

            
            (c)        
            Minimum Borrowing Amount. The aggregate
            principal amount of each Borrowing by the Borrowers shall not be less than the Minimum
            Borrowing Amount. No partial Conversion of a Borrowing of Eurodollar Loans shall reduce
            the outstanding principal amount of the Eurodollar Loans made pursuant to such
            Borrowing to less than the Minimum Borrowing Amount applicable thereto.

            
            (d)       
            Maximum Borrowings. More than one Borrowing
            may be incurred by the Borrowers on any day,
            provided that (i) if there are two or more
            Borrowings on a single day by the Borrowers that

             

             

            
                	
                            
                            

                        	
                            
                            22

                        

            

             

            
            

            

             

            
            consist of Eurodollar Loans, each such Borrowing shall have a different
            initial Interest Period, and (ii) at no time shall there be more than 10
            Borrowings of Eurodollar Loans outstanding hereunder.

            
            (e)        
            Procedure for Obtaining Quoted Rate for Swing Line
            Loans. Whenever any Borrower proposes to submit a Notice of
            Borrowing, Continuation or Conversion with respect to Swing Line Loans, it will prior
            to or concurrently with submitting such Notice of Borrowing, Continuation or Conversion
            notify the Swing Line Lender of its intention and request the Swing Line Lender to
            quote a fixed or floating interest rate (the “Quoted
            Rate”) to be applicable thereto prior to the proposed
            maturity thereof, and the Swing Line Lender shall quote such interest rate to the
            Borrowers as the Quoted Rate applicable to such proposed Swing Line Loan if made on or
            before such specified date for a maturity as so proposed by any of the Borrowers. The
            Swing Line Lender contemplates that any Quoted Rate will be a rate of interest that
            reflects a margin corresponding to (or greater than) the sum of (x) the Applicable
            Eurodollar Margin in effect at the time of quotation of any Quoted Rate,
            plus (y) the Applicable Commitment Fee
            Rate at such time, over the then prevailing Federal Funds Effective Rate, commercial
            paper, call money, overnight repurchase or other commonly quoted interest rate, in each
            case as selected by the Swing Line Lender.

            
            (f)        
            Notice to Lenders. The Administrative Agent
            shall promptly give each Lender written notice (or telephonic notice promptly confirmed
            in writing) of (i) each proposed Borrowing, (ii) such Lender’s
            proportionate share thereof and (iii) the other matters covered by the Notice of
            Borrowing, Continuation or Conversion relating thereto.

             

            
                	
                            
                             

                        	
                            
                            Section 2.3.

                        	
                            
                            Disbursement of
                            Funds.

                        

            

            
            (a)        
            Loans to be Made Pro
            Rata. The obligation of each Lender to make Loans
            hereunder and the Commitment of each Lender are several and not joint obligations. All
            Borrowings (other than Borrowings under the Swing Line Facility) shall be made by the
            Lenders pro rata on the basis of
            their respective Commitments. Subject to Section 2.9, it is understood that no Lender
            shall be responsible for any default by any other Lender in its obligation to make
            Loans hereunder and that each Lender shall be obligated to make the Loans provided to
            be made by it hereunder, regardless of the failure of any other Lender to fulfill its
            Commitment.

            
            (b)       
            Funding of Loans. No later than
            2:00 P.M. (local time at the Payment Office) on the date specified in each Notice
            of Borrowing, Continuation or Conversion, each Lender will make available its
            pro rata share, if any, of each Borrowing
            requested to be made on such date in the manner provided below. All amounts shall be
            made available to the Administrative Agent in Dollars and immediately available funds
            at the Payment Office and the Administrative Agent promptly will make available to the
            Borrowers by depositing to their account at the Payment Office the aggregate of the
            amounts so made available in the type of funds received.

            
            (c)        
            Advance Funding. Unless the Administrative
            Agent shall have been notified by any Lender prior to the date of Borrowing that such
            Lender does not intend to make available to the Administrative Agent its portion of the
            Borrowing or Borrowings to be made on such date, the Administrative Agent may assume
            that such Lender has made such amount available to the Administrative Agent on such
            date of Borrowing, and the Administrative Agent, in reliance upon such assumption, may
            (in its sole discretion and without any obligation to do so) make available to the
            Borrowers a corresponding amount. If such corresponding amount is not in fact made
            available to the Administrative Agent by such Lender and the Administrative Agent has
            made available same to the Borrowers, the Administrative Agent shall be entitled to
            recover such corresponding amount from such Lender. If such Lender does not pay such
            corresponding amount forthwith upon the Administrative Agent’s demand therefor,
            the Administrative Agent shall promptly notify the Borrowers, and the

             

             

            
                	
                            
                            

                        	
                            
                            23

                        

            

             

            
            

            

             

            
            Borrowers shall immediately pay such corresponding amount to the
            Administrative Agent. The Administrative Agent shall also be entitled to recover from
            such Lender or the Borrowers, as the case may be, interest on such corresponding amount
            in respect of each day from the date such corresponding amount was made available by
            the Administrative Agent to the Borrowers to the date such corresponding amount is
            recovered by the Administrative Agent, at a rate per annum equal to (x) if paid by such
            Lender, the overnight Federal Funds Effective Rate or (y) if paid by the Borrowers, the
            then applicable rate of interest, calculated in accordance with Section 2.5, for the
            respective Loans (but without any requirement to pay any amounts in respect thereof
            pursuant to Section 2.7).

            
            (d)       
            Rights Not Prejudiced. Nothing herein and
            no subsequent termination of the Commitments pursuant to Section 4.2 or 4.3 shall be
            deemed to relieve any Lender from its obligation to fulfill its commitments hereunder
            and in existence from time to time or to prejudice any rights that the Borrowers may
            have against any Lender as a result of any default by such Lender hereunder.

            
                	
                            
                             

                        	
                            
                            Section 2.4.

                        	
                            
                            Evidence of
                            Obligations.

                        

            

            
            (a)        
            Loan Accounts of Lenders. The Obligations
            of the Borrowers owing to each Lender shall be evidenced by, and each Lender shall
            maintain in accordance with its usual practice, an account or accounts established by
            such Lender, which account or accounts shall include the amounts of principal and
            interest payable and paid to such Lender from time to time hereunder.

            
            (b)       
            Loan Accounts of Administrative Agent. The
            Administrative Agent shall maintain accounts in which it shall record (i) the amount of
            each Loan made hereunder, the Type thereof, the particular Facility under which such
            Loan was made, and the Interest Period (or, in the case of a Swing Line Loan, the
            maturity date) and applicable interest rate if such Loan is a Eurodollar Loan or Swing
            Line Loan, (ii) the amount of any principal due and payable or to become due and
            payable from the Borrowers to each Lender hereunder, and (iii) the amount of any sum
            received by the Administrative Agent hereunder for the account of the Lenders and each
            Lender’s share thereof.

            
            (c)        
            Effect of Loan Accounts. The entries made
            in the accounts maintained pursuant to Section 2.4(a) and (b) shall be
            prima facie evidence of the existence and
            amounts of the obligations recorded therein;
            provided, that the failure of any Lender or
            the Administrative Agent to maintain such accounts or any error (other than manifest
            error) therein shall not in any manner affect the obligation of the Borrowers to repay
            or prepay the Loans or any other amounts in accordance with the terms of this
            Agreement.

            
            (d)       
            Notes Generally. Upon request of any
            Lender, the Borrowers’ obligation to pay the principal of, and interest on, the
            Loans made to it by each Lender shall be evidenced (i) if a Revolving Loan, by a
            promissory note of the Borrowers substantially in the form of
            Exhibit A-1 with blanks appropriately
            completed in conformity herewith (each a “Revolving
            Note” and, collectively, the
            “Revolving Notes”), and
            (ii) if a Swing Line Loan, by a promissory note of the Borrowers substantially in
            the form of Exhibit A-2 with
            blanks appropriately completed in conformity herewith (each a
            “Swing Line Note” and,
            collectively, the “Swing Line
            Notes”), provided
            that the decision of any Lender not to request a Note shall in no way
            detract from the Borrowers’ obligation to repay the Loans and other amounts owing
            by the Borrowers to such Lender.

            
            (e)        
            Revolving Notes. Any Revolving Note issued
            by the Borrowers to a Lender with a Revolving Commitment shall: (i) be executed by the
            Borrowers; (ii) be payable to the order of such Lender and be dated on or prior to the
            Closing Date; (iii) be payable in the principal amount of Revolving Loans evidenced
            thereby; (iv) mature on the Maturity Date; (v) bear interest as provided in
            Section 2.5 in respect of the Base Rate Loans or Eurodollar Loans, as the case may
            be, evidenced thereby; (vi) be

             

             

            
                	
                            
                            

                        	
                            
                            24

                        

            

             

            
            

            

             

            
            subject to mandatory prepayment as provided in Section 5.3; and (vii) be
            entitled to the benefits of this Agreement and the other Credit Documents.

            
            (f)        
            Swing Line Notes. The Swing Line Note
            issued by the Borrowers to the Swing Line Lender shall: (i) be executed by the
            Borrowers; (ii) be payable to the order of such Lender and be dated on or prior to the
            date the first Loan evidenced thereby is made; (iii) be in a stated principal amount
            equal to the Swing Line Commitment and be payable in the principal amount of Swing Line
            Loans evidenced thereby; (iv) mature as to any Swing Line Loan evidenced thereby on the
            maturity date, not later than the 14th day following the date such Swing Line Loan was
            made, specified in the applicable Notice of Borrowing, Continuation or Conversion; (v)
            bear interest as provided in Section 2.5; (vi) be subject to mandatory
            prepayment as provided in Section 5.3; and (vii) be entitled to the benefits
            of this Agreement and the other Credit Documents.

            
                	
                            
                             

                        	
                            
                            Section 2.5.

                        	
                            
                            Interest.

                        

            

            
            (a)        
            Interest on Base Rate Loans. During such
            periods as a Loan is a Base Rate Loan, the outstanding principal amount of such Loan
            shall bear interest at a fluctuating rate per annum that shall at all times be equal to
            the Base Rate in effect from time to time.

            
            (b)       
            Interest on Eurodollar Loans. During such
            periods as a Loan is a Eurodollar Loan, the outstanding principal amount of such Loan
            shall bear interest at a rate per annum that shall at all times during an Interest
            Period therefor be the relevant Adjusted Eurodollar Rate for such Eurodollar Loan for
            such Interest Period plus the
            Applicable Margin in effect from time to time for such Loan.

            
            (c)        
            Interest on Swing Line Loans. The unpaid
            principal amount of each Swing Line Loan shall bear interest from the date of the
            Borrowing thereof until maturity (whether by acceleration or otherwise) at a rate per
            annum that shall be equal to the Quoted Rate applicable thereto.

            
            (d)       
            Default Interest. Notwithstanding the above
            provisions, if a Default under Section 10.1(a) or Event of Default is in
            existence, upon written notice by the Administrative Agent (which notice the
            Administrative Agent shall give at the direction of the Required Lenders), all
            outstanding amounts of principal and, to the extent permitted by law, all overdue
            interest, in respect of each Loan shall bear interest, payable on demand, at a rate per
            annum equal to 2% per annum above the interest rate that is or would be applicable from
            time to time pursuant to Section 2.5(a). If any amount (other than the principal
            of and interest on the Loans) payable by the Borrowers under the Credit Documents is
            not paid when due, upon written notice by the Administrative Agent (which notice the
            Administrative Agent shall give at the direction of the Required Lenders), such amount
            shall bear interest, payable on demand, at a rate per annum equal to 2% per annum above
            the interest rate that is or would be applicable from time to time pursuant to
            Section 2.5(a).

            
            (e)        
            Accrual and Payment of Interest. Interest
            shall accrue from and including the date of any Borrowing to but excluding the date of
            any prepayment or repayment thereof and shall be payable:

            
            (i)        in respect of each
            Base Rate Loan, monthly in arrears on the last Business Day of each calendar
            month,

            
            (ii)       in respect of each
            Eurodollar Loan, on the last day of each Interest Period applicable thereto and, in the
            case of an Interest Period in excess of three months, on the dates that are
            successively three months after the commencement of such Interest Period,

             

             

            
                	
                            
                            

                        	
                            
                            25

                        

            

             

            
            

            

             

            
            (iii)      on any repayment, prepayment or
            Conversion (on the amount repaid, prepaid or Converted), at maturity (whether by
            acceleration or otherwise) and, after such maturity, on demand, and

            
            (iv)      in the case of any Swing Line
            Loan, on the maturity date applicable thereto.

            
            (f)        
            Computations of Interest. All computations
            of interest on Eurodollar Loans and Swing Line Loans and other amounts (other than Base
            Rate Loans) hereunder shall be made on the actual number of days elapsed over a year of
            360 days, and all computations of interest on Base Rate Loans hereunder shall be made
            on the actual number of days elapsed over a year of 365 or 366 days, as
            applicable.

            
            (g)       
            Information as to Interest Rates. The
            Administrative Agent upon determining the interest rate for any Borrowing or any change
            in interest rate applicable to any Borrowing as a result of a change in the Applicable
            Margin, a change in the Base Rate, the implementation of the default rate or otherwise,
            shall promptly notify the Borrowers and the Lenders thereof,
            provided that (i) any such change
            shall be immediately effective as and when such change occurs without regard to when
            the Administrative Agent provides any such notice, and (ii) the failure of the
            Administrative Agent to give any such notice shall in no way detract from or affect the
            obligation of the Borrowers to pay interest at the changed rate. If the Administrative
            Agent is unable to determine the Adjusted Eurodollar Rate for any Borrowing of
            Eurodollar Loans based on the quotation service referred to in clause (i) of the
            definition of the term Adjusted Eurodollar Rate, it will promptly so notify the
            Reference Banks and each Reference Bank will furnish the Administrative Agent timely
            information for the purpose of determining the Adjusted Eurodollar Rate for such
            Borrowing. If any one or more of the Reference Banks shall not timely furnish such
            information, the Administrative Agent shall determine the Adjusted Eurodollar Rate for
            such Borrowing on the basis of timely information furnished by the remaining Reference
            Banks.

             

            
                	
                            
                             

                        	
                            
                            Section 2.6.

                        	
                            
                            Increased Costs;
                            Illegality.

                        

            

            
            (a)        If (x) in the case of
            clause (i) below, the Administrative Agent or (y) in the case of clauses (ii) and (iii)
            below, any Lender, shall have determined on a reasonable basis (which determination
            shall, absent manifest error, be final and conclusive and binding upon all parties
            hereto):

            
            (i)        on any date for
            determining the Adjusted Eurodollar Rate for any Interest Period that, by reason of any
            changes arising after the Closing Date affecting the London interbank market, adequate
            and fair means do not exist for ascertaining the applicable interest rate on the basis
            provided for in the definition of Adjusted Eurodollar Rate; or

            
            (ii)       at any time, that such
            Lender shall incur increased costs or reductions in the amounts received or receivable
            hereunder in an amount that such Lender deems material with respect to any Eurodollar
            Loans (other than any increased cost or reduction in the amount received or receivable
            resulting from the imposition of or a change in the rate of taxes or similar charges)
            because of (x) any change since the Closing Date in any applicable law, governmental
            rule, regulation, guideline, order or request (whether or not having the force of law),
            or in the interpretation or administration thereof and including the introduction of
            any new law or governmental rule, regulation, guideline, order or request (such as, for
            example, but not limited to, a change in official reserve requirements, but, in all
            events, excluding reserves includable in the Adjusted Eurodollar Rate pursuant to the
            definition thereof) and/or (y) other circumstances adversely affecting the London
            interbank market or the position of such Lender in such market; or

             

             

            
                	
                            
                            

                        	
                            
                            26

                        

            

             

            
            

            

             

            
            (iii)      at any time, that the making or
            continuance of any Eurodollar Loan has become unlawful by compliance by such Lender in
            good faith with any change since the Closing Date in any law, governmental rule,
            regulation, guideline or order, or the interpretation or application thereof, or would
            conflict with any thereof not having the force of law but with which such Lender
            customarily complies or has become impracticable as a result of a contingency occurring
            after the Closing Date that materially adversely affects the London interbank
            market;

            
            then, and in each such event, such Lender
            (or the Administrative Agent in the case of clause (i) above) shall (x) on or promptly
            following such date or time and (y) within 10 Business Days of the date on which such
            event no longer exists give notice (by telephone confirmed in writing) to the Borrowers
            and to the Administrative Agent of such determination (which notice the Administrative
            Agent shall promptly transmit to each of the other Lenders). Thereafter (x) in the
            case of clause (i) above, Eurodollar Loans shall no longer be available until such time
            as the Administrative Agent notifies the Borrowers and the Lenders that the
            circumstances giving rise to such notice by the Administrative Agent no longer exist,
            and any Notice of Borrowing, Continuation or Conversion given by any Borrower with
            respect to Eurodollar Loans that have not yet been incurred, Converted or Continued
            shall be deemed rescinded by the Borrowers or, in the case of a Notice of Borrowing,
            Continuation or Conversion, shall, at the option of the Borrowers, be deemed converted
            into a Notice of Borrowing, Continuation or Conversion for Base Rate Loans to be made
            on the date of Borrowing contained in such Notice of Borrowing, Continuation or
            Conversion, (y) in the case of clause (ii) above, the Borrowers shall pay to such
            Lender, upon written demand therefor, such additional amounts (in the form of an
            increased rate of, or a different method of calculating, interest or otherwise as such
            Lender shall determine) as shall be required to compensate such Lender, for such
            increased costs or reductions in amounts receivable hereunder (a written notice as to
            the additional amounts owed to such Lender, showing the basis for the calculation
            thereof, which basis must be reasonable, submitted to the Borrowers by such Lender
            shall, absent manifest error, be final and conclusive and binding upon all parties
            hereto) and (z) in the case of clause (iii) above, the Borrowers shall take one of
            the actions specified in Section 2.6(b) as promptly as possible and, in any event,
            within the time period required by law.

            
            (b)       At any time that any
            Eurodollar Loan is affected by the circumstances described in Section 2.6(a)(ii)
            or (iii), the Borrowers may (and in the case of a Eurodollar Loan affected pursuant to
            Section 2.6(a)(iii) the Borrowers shall) either (i) if the affected
            Eurodollar Loan is then being made pursuant to a Borrowing, by giving the
            Administrative Agent telephonic notice (confirmed promptly in writing) thereof on the
            same date that the Borrowers were notified by a Lender pursuant to
            Section 2.6(a)(ii) or (iii), cancel such Borrowing, convert the related Notice of
            Borrowing, Continuation or Conversion into one requesting a Borrowing of Base Rate
            Loans or require the affected Lender to make its requested Loan as a Base Rate Loan, or
            (ii) if the affected Eurodollar Loan is then outstanding, upon at least one
            Business Day’s notice to the Administrative Agent, require the affected Lender to
            Convert each such Eurodollar Loan into a Base Rate Loan,
            provided that if more than one Lender is
            affected at any time, then all affected Lenders must be treated the same pursuant to
            this Section 2.6(b).

            
            (c)        If any Lender shall
            have determined that after the Closing Date, the adoption of any applicable law, rule
            or regulation regarding capital adequacy, or any change therein, or any change in the
            interpretation or administration thereof by any governmental authority, central bank or
            comparable agency charged by law with the interpretation or administration thereof, or
            compliance by such Lender or its parent corporation with any request or directive
            regarding capital adequacy (whether or not having the force of law) of any such
            authority, central bank, or comparable agency, in each case made subsequent to the
            Closing Date, has or would have the effect of reducing by an amount reasonably deemed
            by such Lender to be material the rate of return on such Lender’s or its parent
            corporation’s capital or assets as a consequence of such Lender’s
            commitments or obligations hereunder to a level below that which such Lender or its
            parent corporation could have achieved but for such adoption, effectiveness, change
            or

             

             

            
                	
                            
                            

                        	
                            
                            27

                        

            

             

            
            

            

             

            
            compliance (taking into consideration such Lender’s or its parent
            corporation’s policies with respect to capital adequacy), then from time to time,
            within 15 days after demand by such Lender (with a copy to the Administrative Agent),
            the Borrowers shall pay to such Lender such additional amount or amounts as will
            compensate such Lender or its parent corporation for such reduction. Each Lender, upon
            determining in good faith that any additional amounts will be payable pursuant to this
            Section 2.6(c), will give prompt written notice thereof to the Borrowers, which
            notice shall set forth, in reasonable detail, the basis of the calculation of such
            additional amounts, which basis must be reasonable, although the failure to give any
            such notice shall not release or diminish any of the Borrowers’ obligations to
            pay additional amounts pursuant to this Section 2.6(c) upon the subsequent receipt
            of such notice.

            
            (d)       Notwithstanding anything in
            this Agreement to the contrary, no Lender shall be entitled to compensation or payment
            or reimbursement of other amounts under Section 2.6, 3.5 or 5.4 for any amounts
            incurred or accruing more than 270 days prior to the giving of notice to the Borrowers
            of additional costs or other amounts of the nature described in such
            Sections.

            
            Section 2.7.      
            Breakage Compensation. The Borrowers shall
            compensate each applicable Lender, upon its written request (which request shall set
            forth the detailed basis for requesting and the method of calculating such
            compensation), for all reasonable losses, costs, expenses and liabilities (including,
            without limitation, any loss, cost, expense or liability incurred by reason of the
            liquidation or reemployment of deposits or other funds required by such Lender to fund
            its Eurodollar Loans or Swing Line Loans) that such Lender may sustain: (i) if for any
            reason (other than a default by such Lender or the Administrative Agent) a
            (A) Borrowing of Eurodollar Loans does not occur on a date specified therefor in a
            Notice of Borrowing, Conversion or Continuation (whether or not withdrawn by the
            Borrowers or deemed withdrawn pursuant to Section 2.6(a)) or (B) Borrowing of
            Swing Line Loans does not occur on a date specified therefor in a Notice of Borrowing,
            Continuation or Conversion; (ii) if any repayment, prepayment, Conversion or
            Continuation of any of its Eurodollar Loans occurs on a date that is not the last day
            of an Interest Period applicable thereto; (iii) if any repayment or prepayment of
            any of its Swing Line Loans occurs on a date that is not the maturity date thereof;
            (iv) if any prepayment of any of its Eurodollar Loans or Swing Line Loans, as the
            case may be, is not made on any date specified in a notice of prepayment given by the
            Borrowers; (v) as a result of an assignment by a Lender of any Eurodollar Loan
            other than on the last day of the Interest Period applicable thereto pursuant to a
            request by the Borrowers pursuant to Section 2.8(b); or (vi) as a consequence
            of (x) any other default by the Borrowers to repay or prepay its Eurodollar Loans when
            required by the terms of this Agreement or (y) an election made pursuant to
            Section 2.6(b). In the case of any Eurodollar Loan, such loss, cost, expense or
            liability to any Lender shall be deemed to include (without duplication) an amount
            determined by such Lender to be the excess, if any, of (1) the amount of interest that
            would have accrued on the principal amount of such Loan had such event not occurred, at
            the interest rate that would have been applicable to such Loan, for the period from the
            date of such event to the last day of the then current Interest Period therefor (or, in
            the case of a failure to effect a Borrowing, Conversion or Continuation, for the period
            that would have been the Interest Period for such Loan), over (2) the amount of
            interest that would accrue on such principal amount for such period at the interest
            rate that such Lender would bid were it to bid, at the commencement of such period, for
            dollar deposits of a comparable amount and period from other banks in the eurodollar
            market. A certificate of any Lender setting forth any amount or amounts that such
            Lender is entitled to receive pursuant to this Section shall be delivered to the
            Borrowers and shall be conclusive absent manifest error. The Borrowers shall pay such
            Lender the amount shown as due on any such request within 10 days after receipt
            thereof.

             

            
                	
                            
                             

                        	
                            
                            Section 2.8.

                        	
                            
                            Change of Lending Office; Replacement of
                            Lenders.

                        

            

            
            (a)        Each Lender agrees
            that, upon the occurrence of any event giving rise to the operation of
            Section 2.6(a)(ii) or (iii), 2.6(c) or 4.5 with respect to such Lender, it will,
            if requested by the Borrowers,

             

             

            
                	
                            
                            

                        	
                            
                            28

                        

            

             

            
            

            

             

            use
            reasonable efforts (subject to overall policy considerations of such Lender) to
            designate another Applicable Lending Office for any Loans or Commitment affected by
            such event, provided that such
            designation is made on such terms that such Lender and its Applicable Lending Office
            suffer no economic, legal or regulatory disadvantage, with the object of avoiding the
            consequence of the event giving rise to the operation of any such Section.

            
            (b)       If (i) any Lender requests
            any compensation, reimbursement or other payment under Section 2.6(a)(ii) or (iii)
            or 2.6(c) with respect to such Lender, (ii) the Borrowers are required to pay any
            additional amount to any Lender or Governmental Authority pursuant to Section 5.5,
            (iii) any Lender is a Defaulting Lender, or (iv) in connection with any proposed
            amendment, modification, termination, waiver or consent with respect to any provisions
            hereof as contemplated by Section 12.11, the consent of the Required Lenders shall have
            been obtained but the consent of a Lender whose consent is required shall not have been
            obtained (each a “Non-Consenting
            Lender”), then the Borrowers may, at their sole expense
            and effort, upon notice to such Lender and the Administrative Agent, require such
            Lender to assign and delegate, without recourse (in accordance with the restrictions
            contained in Section 12.4(c)), all its interests, rights and obligations under
            this Agreement to an Eligible Assignee that shall assume such obligations;
            provided that (A) the Borrowers shall have
            received the prior written consent of the Administrative Agent, which consent shall not
            be unreasonably withheld or delayed, (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, from the assignee (to the
            extent of such outstanding principal and accrued interest and fees) or the Borrowers
            (in the case of all other amounts, including any breakage compensation under
            Section 2.7 and any amounts accrued and owing to such Lender under
            Section 2.6(a)(ii) or (iii), 2.6(c) or 5.4), (C) in the case of any such
            assignment resulting from a claim for compensation, reimbursement or other payments
            required to be made under Section 2.6(a)(ii) or (iii) or 2.6(c) with respect to
            such Lender, or resulting from any required payments to any Lender or Governmental
            Authority pursuant to Section 5.5, such assignment will result in a reduction in
            such compensation, reimbursement or payments, and (D) in the case of an assignment from
            a Non-Consenting Lender to an Eligible Assignee, such Eligible Assignee shall consent
            at the time of such assignment to each matter in respect of which such Non-Consenting
            Lender did not consent. A Lender shall not be required to make any such assignment and
            delegation if, prior thereto, as a result of a waiver by such Lender or otherwise, the
            circumstances entitling the Borrowers to require such assignment and delegation cease
            to apply.

            
            (c)        Nothing in this
            Section 2.8 shall affect or postpone any of the obligations of the Borrowers or
            the right of any Lender provided in Section 2.6 or 5.4.

             

            
                	
                            
                             

                        	
                            
                            Section 2.9.

                        	
                            
                            Refunding of, or Participation in, Swing Line
                            Loans.

                        

            

            
            (a)        If any Event of
            Default exists, the Swing Line Lender may, in its sole and absolute discretion, direct
            that the Swing Line Loans owing to it be refunded by delivering a notice to such effect
            to the Administrative Agent, specifying the aggregate principal amount thereof (a
            “Notice of Swing Line
            Refunding”). Promptly upon receipt of a Notice of Swing
            Line Refunding, the Administrative Agent shall give notice of the contents thereof to
            the Lenders with Revolving Commitments and, unless an Event of Default specified in
            Section 10.1(h) in respect of any Borrower has occurred, the Borrowers. Each such
            Notice of Swing Line Refunding shall be deemed to constitute delivery by the Borrowers
            of a Notice of Borrowing, Continuation or Conversion requesting Revolving Loans
            consisting of Base Rate Loans in the amount of the Swing Line Loans to which it
            relates. Each Lender with a Revolving Commitment (including the Swing Line Lender)
            hereby unconditionally agrees (notwithstanding that any of the conditions specified in
            Section 6.2 or elsewhere in this Agreement shall not have been satisfied, but subject
            to the provisions of paragraph (b) below) to make a Revolving Loan to the Borrowers in
            an amount equal to such Lender’s Revolving Facility Percentage of the aggregate
            amount of the Swing Line

             

             

            
                	
                            
                            

                        	
                            
                            29

                        

            

             

            
            

            

             

            
            Loans to which such Notice of Swing Line Refunding relates. Each such
            Lender shall make the amount of such Revolving Loan available to the Administrative
            Agent in immediately available funds at the Payment Office not later than 2:00 P.M.
            (local time at the Payment Office), if such notice is received by such Lender prior to
            11:00 A.M. (local time at its Applicable Lending Office), or not later than 2:00 P.M.
            (local time at the Payment Office) on the next Business Day, if such notice is received
            by such Lender after such time. The proceeds of such Revolving Loans shall be made
            immediately available to the Swing Line Lender and applied by it to repay the principal
            amount of the Swing Line Loans to which such Notice of Swing Line Refunding
            related.  The Borrowers irrevocably and unconditionally agree that,
            notwithstanding anything to the contrary contained in this Agreement, Revolving Loans
            made as herein provided in response to a Notice of Swing Line Refunding shall
            constitute Revolving Loans hereunder consisting of Base Rate Loans.

            
            (b)       If prior to the time a
            Revolving Loan would otherwise have been made as provided above as a consequence of a
            Notice of Swing Line Refunding, any of the events specified in Section 10.1(h) shall
            have occurred in respect of any Borrower or one or more of the Lenders with Revolving
            Commitments shall determine that it is legally prohibited from making a Revolving Loan
            under such circumstances, each Lender (other than the Swing Line Lender), or each
            Lender (other than such Swing Line Lender) so prohibited, as the case may be, shall, on
            the date such Revolving Loan would have been made by it (the
            “Purchase Date”),
            purchase an undivided participating interest in the outstanding Swing Line Loans to
            which such Notice of Swing Line Refunding related, in an amount (the
            “Swing Line Participation
            Amount”) equal to such Lender’s Revolving
            Facility Percentage of such Swing Line Loans. On the Purchase Date, each such Lender or
            each such Lender so prohibited, as the case may be, shall pay to the Swing Line Lender,
            in immediately available funds, such Lender’s Swing Line Participation Amount,
            and promptly upon receipt thereof the Swing Line Lender shall, if requested by such
            other Lender, deliver to such Lender a participation certificate, dated the date of the
            Swing Line Lender’s receipt of the funds from, and evidencing such Lender’s
            participating interest in such Swing Line Loans and its Swing Line Participation Amount
            in respect thereof. If any amount required to be paid by a Lender to the Swing Line
            Lender pursuant to the above provisions in respect of any Swing Line Participation
            Amount is not paid on the date such payment is due, such Lender shall pay to the Swing
            Line Lender on demand interest on the amount not so paid at the overnight Federal Funds
            Effective Rate from the due date until such amount is paid in full.

            
            (c)        Whenever, at any time
            after the Swing Line Lender has received from any other Lender such Lender’s
            Swing Line Participation Amount, the Swing Line Lender receives any payment from or on
            behalf of the Borrowers on account of the related Swing Line Loans, the Swing Line
            Lender will promptly distribute to such Lender its Revolving Facility Percentage of
            such payment on account of its Swing Line Participation Amount (appropriately adjusted,
            in the case of interest payments, to reflect the period of time during which such
            Lender’s participating interest was outstanding and funded);
            provided, however, that if such payment
            received by the Swing Line Lender is required to be returned, such Lender will return
            to the Swing Line Lender any portion thereof previously distributed to it by the Swing
            Line Lender.

            
            (d)       Each Lender’s
            obligation to make Revolving Loans and/or to purchase participations in connection with
            a Notice of Swing Line Refunding shall be subject to the conditions that (i) such
            Lender shall have received a Notice of Swing Line Refunding complying with the
            provisions hereof and (ii) at the time the Swing Line Loans that are the subject
            of such Notice of Swing Line Refunding were made, the Swing Line Lender making the same
            had no actual written notice from another Lender that an Event of Default had occurred
            and was continuing), but otherwise shall be absolute and unconditional, shall be solely
            for the benefit of the Swing Line Lender that gives such Notice of Swing Line
            Refunding, and shall not be affected by any circumstance, including, without
            limitation, (A) any set-off, counterclaim, recoupment, defense or other right that
            such Lender may have against any other Lender, any Credit Party,

             

             

            
                	
                            
                            

                        	
                            
                            30

                        

            

             

            
            

            

             

            or
            any other Person, or any Credit Party may have against any Lender or other Person, as
            the case may be, for any reason whatsoever; (B) the occurrence or continuance of a
            Default or Event of Default; (C) any event or circumstance involving a Material Adverse
            Effect upon the Borrowers; (D) any breach of any Credit Document by any party
            thereto; or (E) any other circumstance, happening or event, whether or not similar to
            any of the foregoing.

            
            Section 2.10.     Joint and
            Several Liability of the Borrowers. Each request by any of
            the Borrowers for a Borrowing, Continuation or Conversion of any Loan shall be deemed
            to be a joint and several request by all of the Borrowers. Each Borrower hereby
            authorizes any other Borrower to request a Borrowing, Continuation or Conversion of a
            Loan hereunder and agrees that it is receiving or will receive a direct pecuniary
            benefit therefor. Each Borrower acknowledges and agrees that the Lenders are entering
            into this Agreement at the request of each Borrower and with the understanding that
            each Borrower is and shall remain fully liable, jointly and severally, for payment in
            full of all of the Obligations.

            
                	
                            
                             

                        	
                            
                            Section 2.11.

                        	
                            
                            Contribution Among
                            Borrowers.

                        

            

            
            (a)        To the extent that a
            Borrower shall make a payment (each a “Borrower
            Payment”) of all or any portion of the Obligations,
            then such Borrower shall be entitled to contribution and indemnification from, and be
            reimbursed by, the other Borrower in an amount equal to a fraction of such Borrower
            Payment, the numerator of which fraction is such other Borrower’s Allocable
            Amount and the denominator of which is the sum of the Allocable Amounts of both
            Borrowers.

            
            (b)       This Section 2.11 is
            intended only to define the relative rights of the Borrowers, and nothing set forth in
            this Section 2.11 is intended to or shall impair the obligations of the Borrowers,
            jointly and severally, to pay any amounts, as and when the same shall become due and
            payable in accordance with the terms of this Agreement and the other Credit
            Documents.

            
            (c)        The Borrowers
            acknowledge that the rights of contribution and indemnification hereunder shall
            constitute assets in favor of each Borrower to which such contribution and
            indemnification is owing.

            
            (d)       Any right of contribution
            of any of the Borrowers shall be subject and subordinate to the prior indefeasible
            payment in full of the Obligations.

            
            ARTICLE III.

             

            
            LETTERS OF CREDIT

             

            
                	
                            
                             

                        	
                            
                            Section 3.1.

                        	
                            
                            Letters of
                            Credit.

                        

            

            
            (a)        Subject to and upon
            the terms and conditions herein set forth, any Borrower may request a Letter of Credit
            Issuer at any time and from time to time on or after the Closing Date and prior to the
            date that is 60 Business Days prior to the Maturity Date to issue, for the account of
            such Borrower or any other Credit Party, a “Letter of
            Credit Obligor”), and subject to and upon the terms and
            conditions herein set forth, such Letter of Credit Issuer agrees to issue from time to
            time, irrevocable standby letters of credit denominated and payable in Dollars in such
            form as may be approved by such Letter of Credit Issuer and the Administrative Agent
            (each such letter of credit (a “Letter of
            Credit” and collectively, the
            “Letters of
            Credit”).

             

             

            
                	
                            
                            

                        	
                            
                            31

                        

            

             

            
            

            

             

            
            (b)       Notwithstanding the
            foregoing, (i) no Letter of Credit shall be issued, and the Stated Amount of any
            outstanding Letter of Credit shall not be increased, if after giving effect thereto the
            Letter of Credit Outstandings would exceed either (x) the Letter of Credit Commitment
            Amount (y) when added to the aggregate principal amount of all Loans then outstanding,
            an amount equal to the Total Commitment at such time; (ii) no individual Letter of
            Credit shall be issued that has an initial Stated Amount less than $100,000 unless such
            lesser Stated Amount is acceptable to the Letter of Credit Issuer; and (iii) each
            Letter of Credit shall have an expiry date (including any renewal periods) occurring
            not later than the earlier of (A) one year from the date of issuance thereof (unless
            the requesting Borrower and the Letter of Credit Issuer otherwise agree), and (B) 30
            Business Days prior to the Maturity Date, in each case on terms acceptable to the
            Administrative Agent and the relevant Letter of Credit Issuer. In addition, no Letter
            of Credit shall be issued or increased in amount if after giving effect thereto the
            Borrowers would be required to prepay Loans in accordance with Section
            3.2(b).

            
            (c)        Notwithstanding the
            foregoing, in the event a Lender Default exists, no Letter of Credit Issuer shall be
            required to issue any Letter of Credit unless either (i) such Letter of Credit Issuer
            has entered into arrangements satisfactory to it and the requesting Borrower to
            eliminate such Letter of Credit Issuer’s risk with respect to the participation
            in Letters of Credit of the Defaulting Lender or Lenders, including by cash
            collateralizing such Defaulting Lender’s or Lenders’ Revolving Facility
            Percentage of the Letter of Credit Outstandings; or (ii) the issuance of such Letter of
            Credit, taking into account the potential failure of the Defaulting Lender or Lenders
            to risk participate therein, will not cause the Letter of Credit Issuer to incur
            aggregate credit exposure hereunder with respect to Loans and Letter of Credit
            Outstandings in excess of its Commitment, and the Borrowers have undertaken, for the
            benefit of such Letter of Credit Issuer, pursuant to an instrument satisfactory in form
            and substance to such Letter of Credit Issuer, not to thereafter incur Loans or Letter
            of Credit Outstandings hereunder that would cause the Letter of Credit Issuer to incur
            aggregate credit exposure hereunder with respect to Loans and Letter of Credit
            Outstandings in excess of its Commitment.

            
            (d)       Unless otherwise agreed to
            by a Letter of Credit Issuer and the requesting Borrower, the rules of the
            “International Standby Practices 1998” published by the Institute of
            International Banking Law & Practice (or such later version thereof as may be in
            effect at the time of issuance) shall apply to each Letter of Credit issued
            hereunder.

             

            
                	
                            
                             

                        	
                            
                            Section 3.2.

                        	
                            
                            Letter of Credit
                            Requests:Notices of
                            Issuance.

                        

            

            
            (a)        Whenever a Borrower
            desires that a Letter of Credit be issued, such Borrower shall give the Administrative
            Agent and the Letter of Credit Issuer written or telephonic notice (in the case of
            telephonic notice, promptly confirmed in writing if so requested by the Administrative
            Agent) which, if in the form of written notice shall be substantially in the form
            of Exhibit B-2, or transmit by
            electronic communication (if arrangements for doing so have been approved by the Letter
            of Credit Issuer), prior to 12:00 noon (local time at the Notice Office) at least three
            Business Days (or such shorter period as may be acceptable to the relevant Letter of
            Credit Issuer) prior to the proposed date of issuance (which shall be a Business Day)
            (each a “Letter of Credit
            Request”), which Letter of Credit Request shall include
            such supporting documents that such Letter of Credit Issuer customarily requires in
            connection therewith. Any such documents executed in connection with the issuance of a
            Letter of Credit, including the Letter of Credit itself, are herein referred to as
            “Letter of Credit
            Documents.” In the event of any inconsistency between
            any of the terms or provisions of any Letter of Credit Document and the terms and
            provisions of this Agreement respecting Letters of Credit, the terms and provisions of
            this Agreement shall control. The Administrative Agent shall promptly notify each
            Lender of each Letter of Credit Request.

            
            (b)       Each Letter of Credit
            Issuer shall, on the date of each issuance of a Letter of Credit by it, give the
            Administrative Agent, each applicable Lender and the Borrowers written notice of the
            issuance

             

             

            
                	
                            
                            

                        	
                            
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            of
            such Letter of Credit, accompanied by a copy to the Administrative Agent of the Letter
            of Credit or Letters of Credit issued by it. Each Letter of Credit Issuer shall provide
            to the Administrative Agent a quarterly (or monthly if requested by any applicable
            Lender) summary describing each Letter of Credit issued by such Letter of Credit Issuer
            and then outstanding and an identification for the relevant period of the daily
            aggregate Letter of Credit Outstandings represented by Letters of Credit issued by such
            Letter of Credit Issuer.

             

            
                	
                            
                             

                        	
                            
                            Section 3.3.

                        	
                            
                            Agreement to Repay Letter of Credit
                            Drawings.

                        

            

            
            (a)        The Borrowers hereby
            agree to reimburse (or cause any Letter of Credit Obligor for whose account a Letter of
            Credit was issued to reimburse) each Letter of Credit Issuer, by making payment
            directly to such Letter of Credit Issuer in immediately available funds at the payment
            office of such Letter of Credit Issuer, for any payment or disbursement made by such
            Letter of Credit Issuer under any Letter of Credit (each such amount so paid or
            disbursed until reimbursed, an “Unpaid
            Drawing”) immediately after, and in any event on the
            date on which, such Letter of Credit Issuer notifies the Borrowers (or any such other
            Letter of Credit Obligor for whose account such Letter of Credit was issued) of such
            payment or disbursement (which notice to the Borrowers (or such other Letter of Credit
            Obligor) shall be delivered reasonably promptly after any such payment or
            disbursement), such payment to be made in Dollars, with interest on the amount so paid
            or disbursed by such Letter of Credit Issuer, to the extent not reimbursed prior to
            1:00 P.M. (local time at the payment office of the Letter of Credit Issuer) on the date
            of such payment or disbursement, from and including the date paid or disbursed to but
            not including the date such Letter of Credit Issuer is reimbursed therefor at a rate
            per annum that shall be the rate then applicable to Loans that are Base Rate Loans
            (plus an additional 2% per annum if not reimbursed on the date of such payment or
            disbursement), any such interest also to be payable on demand. If by 11:00 A.M. on the
            Business Day immediately following notice to it of its obligation to make reimbursement
            in respect of an Unpaid Drawing, the Borrowers have not made such reimbursement out of
            its available cash on hand or a contemporaneous Borrowing hereunder, (x) the Borrowers
            will be deemed to have given a Notice of Borrowing for Base Rate Loans in an aggregate
            principal amount sufficient to reimburse such Unpaid Drawing (and the Administrative
            Agent shall promptly give notice to the Lenders of such deemed Notice of Borrowing),
            (y) the Lenders shall, unless they are legally prohibited from doing so, make the Loans
            contemplated by such deemed Notice of Borrowing (which Loans shall be considered made
            under Section 2.1 hereof), and (z) the proceeds of such Base Rate Loans shall be
            disbursed directly to the applicable Letter of Credit Issuer to the extent necessary to
            effect such reimbursement, with any excess proceeds to be made available to the
            Borrowers in accordance with the applicable provisions of this Agreement.

            
            (b)       The Borrowers’
            obligation under this Section 3.3 to reimburse, or cause another Letter of Credit
            Obligor to reimburse, each Letter of Credit Issuer with respect to Unpaid Drawings
            (including, in each case, interest thereon) shall be absolute and unconditional under
            any and all circumstances and irrespective of any setoff, counterclaim or defense to
            payment that the Borrowers or any other Letter of Credit Obligor may have or have had
            against such Letter of Credit Issuer, the Administrative Agent, any other Letter of
            Credit Issuer or any Lender, including, without limitation, any defense based upon the
            failure of any drawing under a Letter of Credit to conform to the terms of the Letter
            of Credit or any non-application or misapplication by the beneficiary of the proceeds
            of such drawing; provided, however, that the Borrowers shall not be obligated to
            reimburse, or cause another Letter of Credit Obligor to reimburse, a Letter of Credit
            Issuer for any wrongful payment made by such Letter of Credit Issuer under a Letter of
            Credit as a result of acts or omissions constituting willful misconduct or gross
            negligence on the part of such Letter of Credit Issuer.

             

            
                	
                            
                             

                        	
                            
                            Section 3.4.

                        	
                            
                            Letter of Credit
                            Participations.

                        

            

             

             

            
                	
                            
                            

                        	
                            
                            33

                        

            

             

            
            

            

             

            
            (a)        Immediately upon the
            issuance by a Letter of Credit Issuer of any Letter of Credit, such Letter of Credit
            Issuer shall be deemed to have sold and transferred to each Lender, and each such
            Lender (each a
            “Participant”) shall be
            deemed irrevocably and unconditionally to have purchased and received from such Letter
            of Credit Issuer, without recourse or warranty, an undivided interest and
            participation, to the extent of such Lender’s Revolving Facility Percentage, in
            such Letter of Credit, each substitute letter of credit, each drawing made thereunder,
            the obligations of the Borrowers under this Agreement with respect thereto (although
            Letter of Credit Fees shall be payable directly to the Administrative Agent for the
            account of the Lenders as provided in Section 4.1(b) and the Participants shall have no
            right to receive any portion of any fees of the nature contemplated by Section 4.1(c)),
            the obligations of any Letter of Credit Obligor under any Letter of Credit Documents
            pertaining thereto, and any security for, or guaranty pertaining to, any of the
            foregoing. Upon any change in the Commitments of the Lenders pursuant to Section
            12.4(c), it is hereby agreed that, with respect to all outstanding Letters of Credit
            and Unpaid Drawings, there shall be an automatic adjustment to the participations
            pursuant to this Section 3.4 to reflect the new Revolving Facility Percentages of the
            assigning and assignee Lender.

            
            (b)       In determining whether to
            pay under any Letter of Credit, a Letter of Credit Issuer shall not have any obligation
            relative to the Participants other than to determine that any documents required to be
            delivered under such Letter of Credit have been delivered and that they appear to
            comply on their face with the requirements of such Letter of Credit. Any action taken
            or omitted to be taken by a Letter of Credit Issuer under or in connection with any
            Letter of Credit if taken or omitted in the absence of gross negligence or willful
            misconduct, shall not create for such Letter of Credit Issuer any resulting
            liability.

            
            (c)        In the event that a
            Letter of Credit Issuer makes any payment under any Letter of Credit and the Borrowers
            shall not have reimbursed (or caused any applicable Letter of Credit Obligor to
            reimburse) such amount in full to such Letter of Credit Issuer pursuant to Section
            3.3(a), such Letter of Credit Issuer shall promptly notify the Administrative Agent,
            and the Administrative Agent shall promptly notify each Participant of such failure,
            and each Participant shall promptly and unconditionally pay to the Administrative Agent
            for the account of such Letter of Credit Issuer, the amount of such Participant’s
            Revolving Facility Percentage of such payment in Dollars and in same day funds;
            provided, however, that no Participant shall be obligated to pay to the Administrative
            Agent its Revolving Facility Percentage of such unreimbursed amount for any wrongful
            payment made by such Letter of Credit Issuer under a Letter of Credit as a result of
            acts or omissions constituting willful misconduct or gross negligence on the part of
            such Letter of Credit Issuer. If the Administrative Agent so notifies any Participant
            required to fund a payment under a Letter of Credit prior to 11:00 A.M. (local time at
            its Notice Office) on any Business Day, such Participant shall make available to the
            Administrative Agent for the account of the relevant Letter of Credit Issuer such
            Participant’s Revolving Facility Percentage of the amount of such payment on such
            Business Day in same day funds. If and to the extent such Participant shall not have so
            made its Revolving Facility Percentage of the amount of such payment available to the
            Administrative Agent for the account of the relevant Letter of Credit Issuer, such
            Participant agrees to pay to the Administrative Agent for the account of such Letter of
            Credit Issuer, forthwith on demand such amount, together with interest thereon, for
            each day from such date until the date such amount is paid to the Administrative Agent
            for the account of such Letter of Credit Issuer at the Federal Funds Effective Rate.
            The failure of any Participant to make available to the Administrative Agent for the
            account of the relevant Letter of Credit Issuer its Revolving Facility Percentage of
            any payment under any Letter of Credit shall not relieve any other Participant of its
            obligation hereunder to make available to the Administrative Agent for the account of
            such Letter of Credit Issuer its Revolving Facility Percentage of any payment under any
            Letter of Credit on the date required, as specified above, but no Participant shall be
            responsible for the failure of any other Participant to make available to the
            Administrative Agent for the account of such Letter of Credit Issuer such other
            Participant’s Revolving Facility Percentage of any such payment.

             

             

            
                	
                            
                            

                        	
                            
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            (d)       Whenever a Letter of Credit
            Issuer receives a payment of a reimbursement obligation as to which the Administrative
            Agent has received for the account of such Letter of Credit Issuer any payments from
            the Participants pursuant to Section 3.4(c) above, such Letter of Credit Issuer shall
            pay to the Administrative Agent and the Administrative Agent shall promptly pay to each
            Participant that has paid its Revolving Facility Percentage thereof, in Dollars and in
            same day funds, an amount equal to such Participant’s Revolving Facility
            Percentage of the principal amount thereof and interest thereon accruing after the
            purchase of the respective participations, as and to the extent so received.

            
            (e)        The obligations of
            the Participants to make payments to the Administrative Agent for the account of each
            Letter of Credit Issuer with respect to Letters of Credit shall be irrevocable and not
            subject to counterclaim, set-off or other defense or any other qualification or
            exception whatsoever and shall be made in accordance with the terms and conditions of
            this Agreement under all circumstances, including, without limitation, any of the
            following circumstances:

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

            
            (ii)       the existence of any
            claim, set-off defense or other right that the Borrowers (or any other Letter of Credit
            Obligor) may have at any time against a beneficiary named in a Letter of Credit, any
            transferee of any Letter of Credit (or any person for whom any such transferee may be
            acting), the Administrative Agent, any Letter of Credit Issuer, any Lender, or other
            person, whether in connection with this Agreement, any Letter of Credit, the
            transactions contemplated herein or any unrelated transactions (including any
            underlying transaction between the Borrowers (or any other Letter of Credit Obligor)
            and the beneficiary named in any such Letter of Credit), other than any claim that the
            Borrowers (or any other Letter of Credit Obligor that is the account party with respect
            to a Letter of Credit) may have against any applicable Letter of Credit Issuer for
            gross negligence or willful misconduct of such Letter of Credit Issuer in making
            payment under any applicable Letter of Credit;

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

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

            
                	
                            
                             

                        	
                            
                            (v)

                        	
                            
                            the occurrence of any Default or Event of
                            Default.

                        

            

            
            (f)        To the extent the
            Letter of Credit Issuer is not reimbursed by the Borrowers, the Participants will
            reimburse the Letter of Credit Issuer, in proportion to their respective Revolving
            Facility Percentages, for and against any and all liabilities, obligations, losses,
            damages, penalties, claims, actions, judgments, costs, expenses or disbursements of
            whatsoever kind or nature that may be imposed on, asserted against or incurred by the
            Letter of Credit Issuer in performing its respective duties in any way related to or
            arising out of its issuance of Letters of Credit, provided that no Participants shall
            be liable for any portion of such liabilities, obligations, losses, damages, penalties,
            claims, actions, judgments, costs, expenses or disbursements resulting from the Letter
            of Credit Issuer’s acts or omissions constituting gross negligence or willful
            misconduct.

            
            Section 3.5.      
            Increased Costs. If after the Closing Date,
            the adoption of any applicable law, rule or regulation, or any change therein, or any
            change in the interpretation or administration thereof by any governmental authority,
            central bank or comparable agency charged with the interpretation or

             

             

            
                	
                            
                            

                        	
                            
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            administration thereof, or compliance by any Letter of Credit Issuer or
            any Lender with any request or directive (whether or not having the force of law) by
            any such authority, central bank or comparable agency (in each case made subsequent to
            the Closing Date) shall either (i) impose, modify or make applicable any reserve,
            deposit, capital adequacy or similar requirement against Letters of Credit issued by
            such Letter of Credit Issuer or such Lender’s participation therein, or (ii)
            shall impose on such Letter of Credit Issuer or any Lender any other conditions
            affecting this Agreement, any Letter of Credit or such Lender’s participation
            therein; and the result of any of the foregoing is to increase the cost to such Letter
            of Credit Issuer or such Lender of issuing, maintaining or participating in any Letter
            of Credit, or to reduce the amount of any sum received or receivable by such Letter of
            Credit Issuer or such Lender hereunder (other than any increased cost or reduction in
            the amount received or receivable resulting from the imposition of or a change in the
            rate of taxes or similar charges), then, upon demand to the Borrowers by such Letter of
            Credit Issuer or such Lender (a copy of which notice shall be sent by such Letter of
            Credit Issuer or such Lender to the Administrative Agent), the Borrowers shall pay to
            such Letter of Credit Issuer or such Lender such additional amount or amounts as will
            compensate any such Letter of Credit Issuer or such Lender for such increased cost or
            reduction. A certificate submitted to the Borrowers by any Letter of Credit Issuer or
            any Lender, as the case may be (a copy of which certificate shall be sent by such
            Letter of Credit Issuer or such Lender to the Administrative Agent), setting forth, in
            reasonable detail, the basis for the determination of such additional amount or amounts
            necessary to compensate any Letter of Credit Issuer or such Lender as aforesaid shall
            be conclusive and binding on the Borrowers absent manifest error, although the failure
            to deliver any such certificate shall not release or diminish any of the
            Borrowers’ obligations to pay additional amounts pursuant to this Section 3.5.
            Reference is hereby made to the provisions of Section 2.6(d) for certain limitations
            upon the rights of a Letter of Credit Issuer or Lender under this Section.

             

            
                	
                            
                             

                        	
                            
                            Section 3.6.

                        	
                            
                            Guaranty of Letter of Credit Obligations of Other
                            Letter of Credit Obligors.

                        

            

            
            (a)        The Borrowers hereby
            unconditionally guarantee for the benefit of the Administrative Agent, each Letter of
            Credit Issuer and the Lenders, the full and punctual payment of the Obligations of each
            other Letter of Credit Obligor under each Letter of Credit Document to which such other
            Letter of Credit Obligor is now or hereafter becomes a party. Upon failure by any such
            other Letter of Credit Obligor to pay punctually any such amount, the Borrowers shall
            forthwith on demand by the Administrative Agent pay the amount not so paid at the place
            and in the currency and otherwise in the manner specified in this Agreement or any
            applicable Letter of Credit Document.

            
            (b)       As a separate, additional
            and continuing obligation, the Borrowers unconditionally and irrevocably undertake and
            agree, for the benefit of the Administrative Agent and the Lenders, that, should any
            amounts not be recoverable from the Borrowers under Section 3.6(a) for any reason
            whatsoever (including, without limitation, by reason of any provision of any Credit
            Document or any other agreement or instrument executed in connection therewith being or
            becoming void, unenforceable, or otherwise invalid under any applicable law) then,
            notwithstanding any notice or knowledge thereof by any Lender, the Administrative
            Agent, any of their respective Affiliates, or any other person, at any time, the
            Borrowers as the sole, original and independent obligors, upon demand by the
            Administrative Agent, will make payment to the Administrative Agent, for the account of
            the Lenders and the Administrative Agent, of all such obligations not so recoverable by
            way of full indemnity, in such currency and otherwise in such manner as is provided in
            the Credit Documents.

            
            (c)        The obligations of
            the Borrowers under this Section shall be unconditional and absolute and, without
            limiting the generality of the foregoing, shall not be released, discharged or
            otherwise affected by the occurrence, one or more times, of any of the
            following:

             

             

            
                	
                            
                            

                        	
                            
                            36

                        

            

             

            
            

            

             

            
            (i)        any extension,
            renewal, settlement, compromise, waiver or release in respect to any obligation of any
            other Letter of Credit Obligor under any Letter of Credit Document, by operation of law
            or otherwise;

            
            (ii)       any modification or
            amendment of or supplement to this Agreement, any Note or any other Credit
            Document;

            
            (iii)      any release, non-perfection or
            invalidity of any direct or indirect security for any obligation of the Borrowers under
            this Agreement, any Note or any other Credit Document or of any other Letter of Credit
            Obligor under any Letter of Credit Document;

            
            (iv)      any change in the existence,
            structure or ownership of any other Letter of Credit Obligor or any insolvency,
            bankruptcy, reorganization or other similar proceeding affecting any other Letter of
            Credit Obligor or its assets or any resulting release or discharge of any obligation of
            any other Letter of Credit Obligor contained in any Letter of Credit
            Document;

            
            (v)       the existence of any claim,
            set-off or other rights that the Borrowers may have at any time against any other
            Letter of Credit Obligor, the Administrative Agent, any Letter of Credit Issuer any
            Lender or any other person, whether in connection herewith or any unrelated
            transactions;

            
            (vi)      any invalidity or
            unenforceability relating to or against any other Letter of Credit Obligor for any
            reason of any Letter of Credit Document, or any provision of applicable law or
            regulation purporting to prohibit the payment by any other Letter of Credit Obligor of
            any Obligations in respect of any Letter of Credit; or

            
            (vii)     any other act or omission to act or
            delay of any kind by any other Letter of Credit Obligor, the Administrative Agent, any
            Lender or any other person or any other circumstance whatsoever that might, but for the
            provisions of this Section, constitute a legal or equitable discharge of the
            Borrowers’ obligations under this Section.

            
            (d)       The Borrowers’
            obligations under this Section shall remain in full force and effect until the
            Commitments shall have terminated and all of the Obligations shall have been paid in
            full. If at any time any payment of any of the Obligations of any other Letter of
            Credit Obligor in respect of any Letter of Credit Documents is rescinded or must be
            otherwise restored or returned upon the insolvency, bankruptcy or reorganization of
            such other Letter of Credit Obligor, the Borrowers’ obligations under this
            Section with respect to such payment shall be reinstated at such time as though such
            payment had been due but not made at such time.

            
            (e)        The Borrowers
            irrevocably waive acceptance hereof, presentment, demand, protest and any notice not
            provided for herein, as well as any requirement that at any time any action be taken by
            any person against any other Letter of Credit Obligor or any other person, or against
            any collateral or guaranty of any other person.

            
            (f)        Until the
            indefeasible payment in full of all of the Obligations and the termination of the
            Commitments of the Lenders hereunder, the Borrowers shall have no rights, by operation
            of law or otherwise, upon making any payment under this Section to be subrogated to the
            rights of the payee against any other Letter of Credit Obligor with respect to such
            payment or otherwise to be reimbursed, indemnified or exonerated by any other Letter of
            Credit Obligor in respect thereof.

             

             

            
                	
                            
                            

                        	
                            
                            37

                        

            

             

            
            

            

             

            
            (g)       In the event that
            acceleration of the time for payment of any amount payable by any other Letter of
            Credit Obligor under any Letter of Credit Document is stayed upon insolvency,
            bankruptcy or reorganization of such other Letter of Credit Obligor, all such amounts
            otherwise subject to acceleration under the terms of any applicable Letter of Credit
            Document shall nonetheless be payable by the Borrowers under this Section forthwith on
            demand by the Administrative Agent.

            
            ARTICLE IV.

             

            
            FEES; COMMITMENTS

             

            
                	
                            
                             

                        	
                            
                            Section 4.1.

                        	
                            
                            Fees.

                        

            

            
            (a)        
            Commitment Fees.  The Borrowers
            agree to pay to the Administrative Agent commitment fees
            (“Commitment Fees”) for
            the account of each Non-Defaulting Lender that has a Revolving Commitment for the
            period from the Closing Date to the Maturity Date, computed for each day at a rate per
            annum equal to the Applicable Commitment Fee Rate in effect for such day on the amount
            of such Non-Defaulting Lender’s Unutilized Revolving Commitment for such day.
            Commitment Fees shall be due and payable in arrears on the last Business Day of each
            December, March, June and September and on the Maturity Date.

            
            (b)       
            Letter of Credit Fees. The Borrowers agree
            to pay to the Administrative Agent, for the account of each Non-Defaulting
            Lender, pro rata on the basis of its
            Revolving Facility Percentage, a fee in respect of each Letter of Credit (the
            “Letter of Credit Fee”),
            payable on the date of issuance (or on the date of any increase in the amount, or
            renewal or extension of the expiry date thereof), computed at a rate per annum equal to
            the Applicable Margin then in effect for Eurodollar Loans, on the Stated Amount thereof
            for the period from the date of issuance (or increase, renewal or extension) to the
            expiration date thereof (including any extensions of such expiration date that may be
            made at the election of the account party or beneficiary). The Borrowers also agree to
            pay additional Letter of Credit Fees, on demand, at the rate of 2% per annum, on the
            Stated Amount of each Letter of Credit, for any period when a Default under Section
            10.1(a) or Event of Default has occurred and is continuing. Accrued Letter of Credit
            Fees shall be due and payable in arrears on the last Business Day of each March, June,
            September and December and on the Maturity Date.

            
            (c)        
            Fronting Fees. The Borrowers agree to pay
            directly to each Letter of Credit Issuer, for its own account, a fee in respect of each
            Letter of Credit issued by it (a “Fronting
            Fee”), payable on the date of issuance (or any increase
            in the amount, or renewal or extension) thereof, in the amount set forth in the Agent
            Fee Letter. Accrued Fronting Fees shall be due and payable quarterly in arrears on the
            last Business Day of each March, June, September and December and on the Maturity
            Date.

            
            (d)       
            Additional Charges of Letter of Credit
            Issuer. The Borrowers agree to pay directly to each Letter of
            Credit Issuer upon each issuance of, drawing under, or amendment, extension, renewal or
            transfer of, a Letter of Credit issued by it such amount as shall at the time of such
            issuance, drawing, amendment, extension, renewal or transfer be the administrative or
            processing charge that such Letter of Credit Issuer is customarily charging for
            issuances of, drawings under or amendments, extensions, renewals or transfers of,
            letters of credit issued by it.

            
            (e)        
            Other Fees. The Borrowers shall pay to the
            Administrative Agent, on the Closing Date and thereafter, for its or their own account
            and/or for distribution to the Lenders, such fees as heretofore agreed by the Borrowers
            and the Administrative Agent or the Lenders as set forth in the Agent Fee Letter, or
            any other similar agreement or as otherwise agreed by the Borrowers.

             

             

            
                	
                            
                            

                        	
                            
                            38

                        

            

             

            
            

            

             

            
            (f)        
            Computations of Fees. All computations of
            Commitment Fees, Letter of Credit Fees and other Fees hereunder shall be made on the
            actual number of days elapsed over a year of 360 days.

            
            Section 4.2.      
            Voluntary Termination/Reduction of
            Commitments. Upon at least three Business Days’ prior
            irrevocable written notice (or telephonic notice confirmed in writing) to the
            Administrative Agent at the Notice Office (which notice the Administrative Agent shall
            promptly transmit to each of the Lenders), the Borrowers shall have the right
            to:

            
            (a)        terminate in whole
            the Total Commitment, provided that (i) all outstanding Loans are contemporaneously
            prepaid in accordance with Section 5.2, and (ii) either (A) no Letters of Credit remain
            outstanding, or (B) the Borrowers shall contemporaneously either (x) cause all
            outstanding Letters of Credit to be surrendered for cancellation (any such Letters of
            Credit to be replaced by letters of credit issued by other financial institutions
            acceptable to each Letter of Credit Issuer and the Required Lenders), or (y) the
            Borrowers shall pay to the Administrative Agent an amount in cash and/or Cash
            Equivalents equal to 100% of the Letter of Credit Outstandings, and the Administrative
            Agent shall hold such payment as security for the reimbursement obligations of the
            Borrowers hereunder in respect of Letters of Credit pursuant to a cash collateral
            agreement to be entered into in form and substance reasonably satisfactory to the
            Administrative Agent, each Letter of Credit Issuer and the Borrowers (which shall
            permit certain investments in Cash Equivalents satisfactory to the Administrative
            Agent, each Letter of Credit Issuer and the Borrowers until the proceeds are applied to
            the secured obligations); or;

            
            (b)       partially and permanently
            reduce the Unutilized Total Revolving Commitment and/or the Swing Line
            Commitment, provided that (i) any
            such reduction shall apply to proportionately and permanently reduce the Commitment of
            each of the Lenders; (ii) any partial reduction of the Unutilized Total Revolving
            Commitment pursuant to this Section 4.2(b) shall be in the amount of at least
            $1,000,000 (or, if greater, in integral multiples of $500,000 in excess thereof); and
            (iii) any partial reduction of the Swing Line Commitment pursuant to this
            Section 4.2(b) shall be in the amount of at least $1,000,000 (or, if greater, in
            integral multiples of $500,000 in excess thereof).

            
            Section 4.3.      
            Termination of Commitments. The Total
            Commitment (and the Revolving Commitment of each Lender) shall terminate on the
            Maturity Date.

            
            ARTICLE V.

             

            
            PAYMENTS

            
                	
                            
                             

                        	
                            
                            Section 5.1.

                        	
                            
                            Repayment of
                            Loans.

                        

            

            
            (a)        
            Repayment of Revolving Loans. The Borrowers
            shall repay the aggregate principal amount of all outstanding Revolving Loans to the
            Administrative Agent for the ratable account of the Lenders on the Maturity Date, and
            if any Letter of Credit Outstandings exist, then on such date the Borrowers shall cause
            each Letter of Credit to be replaced or cash collateralized in accordance with the
            provisions of Section 5.3(a).

            
            (b)       
            Repayment of Swing Line Loans. The
            Borrowers shall repay the aggregate principal amount of all outstanding Swing Line
            Loans to the Administrative Agent for the account of the Swing Line Lender on the
            earlier to occur of (i) the date selected by the Borrowers for each outstanding Swing
            Line Loan, which, in each case, shall not be more than 14 days after such Swing Line
            Loan is made, and (ii) the Maturity Date;
            provided,
            however, that no Swing Line Loan shall be
            repaid, in whole or in part, with proceeds of any other Swing Line Loan.

             

             

            
                	
                            
                            

                        	
                            
                            39

                        

            

             

            
            

            

             

            
            Section 5.2.      
            Voluntary Prepayments. The Borrowers shall
            have the right to prepay any of their Loans, in whole or in part, without premium or
            penalty (except as specified below), from time to time on the following terms and
            conditions:

            
            (a)        the Borrowers shall
            give the Administrative Agent at the Notice Office written or telephonic notice (in the
            case of telephonic notice, promptly confirmed in writing if so requested by the
            Administrative Agent) of its intent to prepay the Loans, the amount of such prepayment
            and (in the case of Eurodollar Loans) the specific Borrowing(s) pursuant to which made,
            which notice shall be received by the Administrative Agent by (i) 12:00 noon (local
            time at the Notice Office) three Business Days prior to the date of such prepayment, in
            the case of any prepayment of Eurodollar Loans, or (ii) 12:00 noon (local time at
            the Notice Office) one Business Day prior to the date of such prepayment, in the case
            of any prepayment of Base Rate Loans or Swing Line Loans, and which notice shall
            promptly be transmitted by the Administrative Agent to each of the Lenders;

            
            (b)       in the case of prepayment
            of any Borrowings under the Revolving Facility, each partial prepayment of any such
            Borrowing shall be in an aggregate principal of at least $2,000,000 or an integral
            multiple of $1,000,000 in excess thereof, in the case of Base Rate Loans, and at least
            $1,000,000 or an integral multiple of $500,000 in excess thereof, in the case of
            Eurodollar Loans;

            
            (c)        in the case of
            prepayment of any Borrowings under the Swing Line Facility, each partial prepayment of
            any such Borrowing shall be in an aggregate principal of at least $500,000 or an
            integral multiple of $100,000 in excess thereof,
            provided that no partial prepayment of any
            Swing Line Loan shall be prepaid, in whole or in part, with proceeds of any other Swing
            Line Loan;

            
            (d)       no partial prepayment of
            any Loans made pursuant to a Borrowing shall reduce the aggregate principal amount of
            such Loans outstanding pursuant to such Borrowing to an amount less than the Minimum
            Borrowing Amount applicable thereto;

            
            (e)        each prepayment in
            respect of any Loans made pursuant to a Borrowing shall be applied
            pro rata among such Loans; and

            
            (f)        each prepayment of
            Eurodollar Loans or Swing Line Loans pursuant to this Section 5.2 on any date
            other than the last day of the Interest Period applicable thereto, in the case of
            Eurodollar Loans, or the maturity thereof, in the case of Swing Line Loans, as the case
            may be, shall be accompanied by any amounts payable in respect thereof under
            Section 2.7.

            
            Section 5.3.      
            Mandatory Payments and Prepayments. The
            Loans shall be subject to mandatory repayment or prepayment, and the Letter of Credit
            Outstandings shall be subject to cash collateralization requirements, in accordance
            with the following provisions:

            
            (a)        
            Mandatory Prepayment--Loans Exceed Total
            Commitment. If on any date (after giving effect to any other
            payments on such date) the sum of (i) the aggregate outstanding principal amount of
            Revolving Loans plus (ii) the
            aggregate amount of Letter of Credit Outstandings, exceeds the Total Revolving
            Commitment as then in effect, then
            the Borrowers shall prepay on such date the principal amount of
            Revolving Loans and, after Revolving Loans have been paid in full, Unpaid Drawings, in
            an aggregate amount at least equal to such excess and conforming in the case of partial
            prepayments of Revolving Loans to the requirements as to the amounts of partial
            prepayments of Revolving Loans that are contained in Section 5.2. If at any time the
            aggregate amount of Letter of Credit Outstandings exceeds the Total Revolving
            Commitment as then in effect, or if at any time the aggregate amount of Letter of
            Credit Outstandings (or any particular Letter of Credit or grouping of Letters of
            Credit) exceeds the Letter of Credit Commitment Amount,
            then the Borrowers shall pay to the
            Administrative Agent an

             

             

            
                	
                            
                            

                        	
                            
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            amount in cash and/or Cash Equivalents equal to such excess and the
            Administrative Agent shall hold such payment as security for the reimbursement
            obligations of the Borrowers and any other Credit Parties hereunder in respect of
            Letters of Credit pursuant to a cash collateral agreement to be entered into in form
            and substance reasonably satisfactory to the Administrative Agent, each Letter of
            Credit Issuer and the Borrowers (which shall permit certain investments in Cash
            Equivalents satisfactory to the Administrative Agent, each Letter of Credit Issuer and
            the Borrowers until the proceeds are applied to the secured obligations).

            
            (b)       
            Mandatory Prepayment of Swing Line Loans.
            If on any date (after giving effect to any other payments on such date) the aggregate
            outstanding principal amount of Swing Line Loans exceeds (A) the Unutilized Total
            Revolving Commitment as then in effect, the Borrowers shall prepay on such date Swing
            Line Loans in an aggregate principal amount at least equal to such excess, and/or
            (B) the Swing Line Commitment at such time, the Borrowers shall prepay on such
            date Swing Line Loans in an aggregate principal amount at least equal to such
            excess.

            
            (c)        
            Particular Loans to be Prepaid. With
            respect to each repayment or prepayment of Loans required by this Section 5.3, the
            Borrowers shall designate the Types of Loans that are to be repaid or prepaid and the
            specific Borrowing(s) pursuant to which such repayment or prepayment is to be
            made, provided that (i) the
            Borrowers shall first so designate all Loans that are Base Rate Loans and Eurodollar
            Loans with Interest Periods ending on the date of repayment or prepayment prior to
            designating any other Eurodollar Loans for repayment or prepayment, (ii) if the
            outstanding principal amount of Eurodollar Loans made pursuant to a Borrowing is
            reduced below the applicable Minimum Borrowing Amount as a result of any such repayment
            or prepayment, then all the Loans outstanding pursuant to such Borrowing shall be
            Converted into Base Rate Loans, and (iii) each repayment and prepayment of any Loans
            made pursuant to a Borrowing shall be applied pro
            rata among such Loans. In the absence of a designation by the
            Borrowers as described in the preceding sentence, the Administrative Agent shall,
            subject to the above, make such designation in its sole discretion with a view, but no
            obligation, to minimize breakage costs owing under Section 2.7. Any repayment or
            prepayment of Eurodollar Loans or Swing Line Loans pursuant to this Section 5.3
            shall in all events be accompanied by such compensation as is required by
            Section 2.7.

            
                	
                            
                             

                        	
                            
                            Section 5.4.

                        	
                            
                            Method and Place of
                            Payment.

                        

            

            
            (a)        Except as otherwise
            specifically provided herein, all payments under this Agreement shall be made to the
            Administrative Agent for the ratable (based on its pro
            rata share) account of the Lenders entitled thereto, not
            later than 12:00 noon (local time at the Payment Office) on the date when due and shall
            be made at the Payment Office in immediately available funds and in lawful money of the
            United States of America, it being understood that written notice by the Borrowers to
            the Administrative Agent to make a payment from the funds in the Borrowers’
            account at the Payment Office shall constitute the making of such payment to the extent
            of such funds held in such account. Any payments under this Agreement that are made
            later than 12:00 noon (local time at the Payment Office) shall be deemed to have been
            made on the next succeeding Business Day. Whenever any payment to be made hereunder
            shall be stated to be due on a day that is not a Business Day, the due date thereof
            shall be extended to the next succeeding Business Day and, with respect to payments of
            principal, interest shall be payable during such extension at the applicable rate in
            effect immediately prior to such extension.

            
            (b)       If at any time insufficient
            funds are received by and available to the Administrative Agent to pay fully all
            amounts of principal, Unpaid Drawings, interest and Fees then due hereunder and an
            Event of Default is not then in existence, such funds shall be applied (i)
            first, towards payment of interest and Fees
            then due hereunder, ratably among the parties entitled thereto in accordance with the
            amounts of interest and Fees then due to such parties, and (ii)
            second, towards payment of principal and
            Unpaid

             

             

            
                	
                            
                            

                        	
                            
                            41

                        

            

             

            
            

            

             

            
            Drawings then due hereunder, ratably among the parties entitled thereto
            in accordance with the amounts of principal and Unpaid Drawings then due to such
            parties.

             

            
                	
                            
                             

                        	
                            
                            Section 5.5.

                        	
                            
                            Net Payments.

                        

            

            
            (a)        All payments made by
            the Borrowers hereunder, under any Note or any other Credit Document, will be made
            without setoff, counterclaim or other defense. Except as provided for in
            Section 5.5(b), all such payments will be made free and clear of, and without
            deduction or withholding for, any present or future taxes, levies, imposts, duties,
            fees, assessments or other charges of whatever nature now or hereafter imposed by any
            jurisdiction or by any political subdivision or taxing authority thereof or therein
            with respect to such payments (but excluding, except as provided in the second
            succeeding sentence, any tax, imposed on or measured by the net income or net profits
            of a Lender pursuant to the laws of the jurisdiction under which such Lender is
            organized or the jurisdiction in which the principal office or Applicable Lending
            Office of such Lender is located or any subdivision thereof or therein) and all
            interest, penalties or similar liabilities with respect to such non-excluded taxes,
            levies imposts, duties, fees, assessments or other charges (all such non-excluded
            taxes, levies, imposts, duties, fees assessments or other charges being referred to
            collectively as
            “Taxes”). If any Taxes
            are so levied or imposed, the Borrowers agree to pay the full amount of such Taxes and
            such additional amounts as may be necessary so that every payment by it of all amounts
            due hereunder, under any Note or under any other Credit Document, after withholding or
            deduction for or on account of any Taxes, will not be less than the amount provided for
            herein or in such Note or in such other Credit Document. If any amounts are payable in
            respect of Taxes pursuant to the preceding sentence, the Borrowers agree to reimburse
            each Lender, upon the written request of such Lender, for Taxes imposed on or measured
            by the net income or profits of such Lender pursuant to the laws of the jurisdiction in
            which such Lender is organized or in which the principal office or Applicable Lending
            Office of such Lender is located or under the laws of any political subdivision or
            taxing authority of any such jurisdiction in which the principal office or Applicable
            Lending Office of such Lender is located as such Lender shall determine are payable by,
            or withheld from, such Lender in respect of the amounts of Taxes paid to or on behalf
            of such Lender pursuant to the preceding sentence, which written request shall be
            accompanied by a statement from such Lender setting forth, in reasonable detail, the
            computations used in determining such amounts. Subject to Section 2.6(d), the
            Borrowers will furnish to the Administrative Agent within 45 days after the date the
            payment of any Taxes, or any withholding or deduction on account thereof, is due
            pursuant to applicable law certified copies of tax receipts, or other evidence
            satisfactory to the Lender, evidencing such payment by the Borrowers. The Borrowers
            will indemnify and hold harmless the Administrative Agent and each Lender, and
            reimburse the Administrative Agent or such Lender upon its written request, for the
            amount of any Taxes levied against, imposed on, or paid by the Administrative Agent or
            any Lender within 30 days of any written request therefor, without regard to whether
            such Taxes were correctly or legally asserted by the relevant Governmental
            Authority.

            
            (b)       Each Lender that is not a
            United States Person (as such term is defined in Section 7701(a)(30) of the Code)
            for Federal income tax purposes (a “Non-U.S.
            Lender”) agrees to provide to the Borrowers and the
            Administrative Agent on or prior to the Closing Date, or in the case of a Lender that
            is an assignee or transferee of an interest under this Agreement pursuant to
            Section 12.4 (unless the respective Lender was already a Lender hereunder
            immediately prior to such assignment or transfer and such Lender is in compliance with
            the provisions of this Section 5.5(b)), on the date of such assignment or transfer
            to such Lender, and from time to time thereafter if required by the Borrowers or the
            Administrative Agent: (i) two accurate and complete original signed copies of
            Internal Revenue Service Form W-8BEN, W-8ECI, W-8EXP or W-8IMY (or successor,
            substitute or other appropriate forms and, in the case of Form W-8IMY, any related
            documentation necessary to establish the claimed exemption or reduction) certifying to
            such Lender’s entitlement to a complete exemption from, or a reduced rate of
            withholding from, U.S. withholding tax with respect to payments to be made under
            this

             

             

            
                	
                            
                            

                        	
                            
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            Agreement, any Note or any other Credit Document, and (ii) in the
            case of a Lender seeking to qualify for the portfolio interest exemption, a certificate
            in form and substance acceptable to the Administrative Agent (any such certificate, an
            “Exemption Certificate”)
            certifying to such Lender’s entitlement to such exemption. In addition, each
            Lender agrees that from time to time after the Closing Date, when a lapse in time or
            change in circumstances renders the previous certification obsolete or inaccurate in
            any material respect, it will deliver to the Borrowers and the Administrative Agent two
            new accurate and complete original signed copies of the applicable Internal Revenue
            Service Form, including any related documentation or Exemption Certificate, and such
            other forms as may be required to confirm or establish the entitlement of such Lender
            to a continued exemption from or reduction in U.S. withholding tax with respect to
            payments under this Agreement, any Note or any other Credit Document, or it shall
            immediately notify the Borrowers and the Administrative Agent of its inability to
            deliver any such documentation, in which case such Lender shall not be required to
            deliver it. Notwithstanding anything to the contrary contained in Section 5.5(a),
            but subject to Section 10.4(c) and the immediately succeeding sentence,
            (x) the Borrowers shall be entitled, to the extent it is required to do so by law,
            to deduct or withhold Taxes imposed by the United States (or any political subdivision
            or taxing authority thereof or therein) from interest, fees or other amounts payable
            hereunder for the account of any Non-U.S. Lender that has not provided to the Borrowers
            such Forms or such Exemption Certificate and related documentation that establish a
            complete exemption from or reduction in the rate of such deduction or withholding and
            (y) the Borrowers shall not be obligated pursuant to Section 5.5(a) to
            gross-up payments to be made to a Lender in respect of Taxes imposed by the United
            States or any additional amounts with respect thereto (I) to the extent such Taxes
            result from a Lender’s failure to provide the Borrowers the Internal Revenue
            Service forms required to be provided to the Borrowers pursuant to this
            Section 5.5(b) or (II) to the extent that such forms do not establish a
            complete exemption from withholding of such Taxes at the time the Lender first became a
            Lender under this Agreement. The Borrowers agree to pay additional amounts and
            indemnify each Lender in the manner set forth in Section 5.5(a) (without regard to
            the identity of the jurisdiction requiring the deduction or withholding) in respect of
            any Taxes deducted or withheld by it as a result of any changes after the Closing Date
            in any applicable law, treaty, governmental rule, regulation, guideline or order, or in
            the interpretation thereof, relating to the deducting or withholding of income or
            similar Taxes.

            
            (c)        The Borrowers will
            indemnify and hold harmless the Administrative Agent and each Lender, and reimburse
            each upon its written request within 30 days thereof, for the amount of any
            documentary, excise, stamp, property or other similar taxes, duties, fees, assessments
            or other charges imposed with respect to the execution, delivery, filing or enforcement
            of any Credit Document, without regard to whether such amounts were correctly or
            legally asserted by the relevant Governmental Authority.

            
            (d)       If any Lender, in its sole
            opinion, determines that it has finally and irrevocably received or been granted a
            refund in respect of any Taxes paid as to which indemnification has been paid by the
            Borrowers pursuant to this Section, it shall promptly remit such refund (including any
            interest received in respect thereof), net of all out-of-pocket costs and
            expenses; provided, that the
            Borrowers agree to promptly return any such refund (plus interest) to such Lender if
            such Lender is required to repay such refund to the relevant taxing authority. Any such
            Lender shall provide the Borrowers with a copy of any notice of assessment from the
            relevant taxing authority (redacting any unrelated confidential information contained
            therein) requiring repayment of such refund.  Nothing contained herein shall
            impose an obligation on any Lender to apply for any such refund.

            
            ARTICLE VI.

             

            
            CONDITIONS PRECEDENT

             

             

            
                	
                            
                            

                        	
                            
                            43

                        

            

             

            
            

            

             

            
            Section 6.1.      
            Conditions Precedent at Closing Date. The
            obligation of the Lenders to make Loans, and of any Letter of Credit Issuer to issue
            Letters of Credit, is subject to the satisfaction of each of the following
            conditions:

            
            (a)        
            Credit Agreement. This Agreement shall have
            been executed by the Borrowers, the Administrative Agent and each of the
            Lenders.

            
            (b)       
            Notes. The Borrowers shall have executed
            and delivered to the Administrative Agent (i) a Revolving Note for the account of
            each Lender that has requested a Revolving Note and (ii) a Swing Line Note for the
            account of the Swing Line Lender.

            
            (c)        
            Fees and Expenses. The Borrowers shall have
            (i) executed and delivered to the Administrative Agent the Agent Fee Letter and (ii)
            paid or caused to be paid all Fees required to be paid by it on the Closing Date
            pursuant to Section 4.1 and all reasonable fees and expenses of the Administrative
            Agent and of special counsel to the Administrative Agent that have been invoiced on or
            prior to such date in connection with the preparation, negotiation, execution and
            delivery of this Agreement and the other Credit Documents and the consummation of the
            transactions contemplated hereby and thereby.

            
            (d)       
            Corporate Resolutions and Approvals. The
            Administrative Agent shall have received certified copies of the resolutions of the
            Board of Directors of each Borrower and each other Credit Party, approving the Credit
            Documents to which such Borrower or any such other Credit Party, as the case may be, is
            or may become a party, and of all documents evidencing other necessary corporate
            action, governmental approvals, if any, and other consents or approvals with respect to
            the execution, delivery and performance by such Borrower or any such other Credit Party
            of the Credit Documents to which it is or may become a party.

            
            (e)        
            Incumbency Certificates. The Administrative
            Agent shall have received a certificate of the Secretary or an Assistant Secretary of
            each Borrower and of each other Credit Party, certifying the names and true signatures
            of the officers of such Borrower or such other Credit Party, as the case may be,
            authorized to sign the Credit Documents to which such Borrower or such other Credit
            Party is a party and any other documents to which such Borrower or any such other
            Credit Party is a party that may be executed and delivered in connection
            herewith.

            
            (f)        
            Corporate Charter and Good Standing
            Certificates. The Administrative Agent shall have received:
            (i) an original certified copy of the Certificate of Incorporation of each Borrower and
            of each other Credit Party and any and all amendments and restatements thereof,
            certified as of a recent date by the relevant Secretary of State and certified by the
            secretary or an assistant secretary of such Person as being true, correct and complete
            and in full force and effect as of the Closing Date; (ii) the bylaws of each Borrower
            and of each other Credit Party and any and all amendments and restatements thereof
            certified by the secretary or an assistant secretary of such Person as being true,
            correct and complete and in full force and effect as of the Closing Date; and (iii) an
            original good standing certificate from the Secretary of State of the state of
            incorporation, dated as of a recent date, listing all charter documents filed with such
            Secretary of State that affect such Borrower or such other Credit Party, as the case
            may be, and certifying as to the good standing of such Borrower or such other Credit
            Party.

            
            (g)       
            Opinion of Counsel. The Administrative
            Agent shall have received such opinions of counsel from counsel to the Borrowers as the
            Administrative Agent shall request, each of which shall be addressed to the
            Administrative Agent and each of the Lenders and dated the Closing Date and shall be in
            form and substance satisfactory to the Administrative Agent.

             

             

            
                	
                            
                            

                        	
                            
                            44

                        

            

             

            
            

            

             

            
            (h)       
            Borrower’s Closing Certificate. The
            Administrative Agent shall have received a certificate in the form attached hereto
            as Exhibit D, dated the Closing
            Date, of the Chief Financial Officer of each Borrower to the effect that, at and as of
            the Closing Date and both before and after giving effect to the initial Borrowings
            hereunder, if any, on the Closing Date, and the application of the proceeds thereof:
            (i) all conditions set forth in Section 6.1 have been satisfied; (ii) the
            Borrowers are in compliance with all of the covenants contained in Articles VIII and IX
            of this Agreement; (iii) no Default or Event of Default has occurred or is
            continuing; and (iv) all representations and warranties of the Credit Parties contained
            herein or in the other Credit Documents are true and correct in all material respects
            with the same effect as though such representations and warranties had been made on and
            as of the Closing Date, except that as to any such representations and warranties that
            expressly relate to an earlier specified date, such representations and warranties are
            only represented as having been true and correct in all material respects as of the
            date when made.

            
            (i)        
            Settlement Agreement. The Administrative
            Agent shall have received a copy of the Settlement Agreement and any and all amendments
            and restatements thereof, certified by an Authorized Officer of the Parent as being
            true, correct and complete and in full force and effect as of the Closing
            Date.

            
            (j)        
            Financial Statements. The Administrative
            Agent and the Lenders shall have received the financial statements referred to in
            Section 7.7(a) and the Financial Projections.

            
            (k)       
            Proceedings and Documents. All corporate
            and other proceedings and all documents incidental to the transactions contemplated
            hereby shall be satisfactory in substance and form to the Administrative Agent and the
            Lenders and the Administrative Agent and its special counsel and the Lenders shall have
            received all such counterpart originals or certified or other copies of such documents
            as the Administrative Agent or its special counsel or any Lender may reasonably
            request.

            
                	
                            
                             

                        	
                            
                            Section 6.2.

                        	
                            
                            Conditions Precedent to All Credit
                            Events.

                        

            

            
            (a)        The obligations of
            the Lenders to make or participate in any Credit Event is subject, at the time thereof,
            to the satisfaction of the following conditions:

            
            (i)        
            Notice of Borrowing, Continuation or
            Conversion. The Administrative Agent shall have received a
            Notice of Borrowing, Continuation or Conversion meeting the requirements of Section 2.2
            with respect to the Borrowing, Continuation or Conversion of a Loan, or a Letter of
            Credit Request meeting the requirement of Section 3.2 with respect to the issuance of a
            Letter of Credit.

            
            (ii)       
            No Default; Representations and Warranties.
            At the time of each Credit Event and after giving effect thereto, (i) there shall exist
            no Default or Event of Default and (ii) all representations and warranties of the
            Credit Parties contained herein or in the other Credit Documents shall be true and
            correct in all material respects with the same effect as though such representations
            and warranties had been made on and as of the date of such Credit Event, except to the
            extent that such representations and warranties expressly relate to an earlier
            specified date, in which case such representations and warranties shall have been true
            and correct in all material respects as of the date when made.

            
            (b)       The acceptance of the
            benefits of each Credit Event shall constitute a representation and warranty by the
            Borrowers to each of the Lenders that all of the applicable conditions specified in
            Sections 6.1 and/or 6.2, as the case may be, have been satisfied as of the times
            referred to in Sections 6.1 and 6.2. All of the certificates, legal opinions and
            other documents and papers referred to in this

             

             

            
                	
                            
                            

                        	
                            
                            45

                        

            

             

            
            

            

             

            
            Article VI, unless otherwise specified, shall be delivered to the
            Administrative Agent for the account of each of the Administrative Agent and the
            Lenders and, except for the Notes, in sufficient counterparts for the Administrative
            Agent and the Lenders, and the Administrative Agent will promptly distribute to the
            Lenders their respective Notes and the copies of such other certificates, legal
            opinions and documents.

            
             

            
            ARTICLE VII.

             

            
            REPRESENTATIONS AND WARRANTIES

            
            To induce the Lenders to enter into this Agreement and to make the Loans
            and to issue and to participate in the Letters of Credit provided for herein, each
            Borrower makes the following representations and warranties to, and agreements with,
            the Lenders, all of which shall survive the execution and delivery of this Agreement
            and each Credit Event:

            
            Section 7.1.      
            Corporate Status. Each of the Parent and
            its Subsidiaries (a) is a duly organized or formed and validly existing corporation,
            partnership or limited liability company, as the case may be, in good standing under
            the laws of the jurisdiction of its formation and has the corporate, partnership or
            limited liability company power and authority, as applicable, to own its property and
            assets and to transact the business in which it is engaged and presently proposes to
            engage, and (b) has duly qualified and is authorized to do business in all
            jurisdictions where it is required to be so qualified except where the failure to be so
            qualified would not have a Material Adverse Effect. Each Subsidiary of the Parent (and
            the direct and indirect ownership interest of the Parent therein) as of the date hereof
            and the jurisdiction of incorporation of Parent and each such Subsidiary and each
            jurisdiction in which such entity is qualified to do business is listed on
            Schedule 7.1.

            
            Section 7.2.      
            Corporate Power and Authority. Each Credit
            Party has the corporate or other organizational power and authority to execute, deliver
            and carry out the terms and provisions of the Credit Documents to which it is party and
            has taken all necessary corporate or other organizational action to authorize the
            execution, delivery and performance of the Credit Documents to which it is party. Each
            Credit Party has duly executed and delivered each Credit Document to which it is party
            and each Credit Document to which it is party constitutes the legal, valid and binding
            agreement or obligation of such Credit Party enforceable in accordance with its terms,
            except to the extent that the enforceability thereof may be limited by applicable
            bankruptcy, insolvency, reorganization, moratorium or other similar laws generally
            affecting creditors’ rights and by equitable principles (regardless of whether
            enforcement is sought in equity or at law).

            
            Section 7.3.      
            No Violation. Neither the execution,
            delivery and performance by any Credit Party of the Credit Documents to which it is
            party nor compliance with the terms and provisions thereof (a) will contravene any
            provision of any law, statute, rule, regulation, order, writ, injunction or decree of
            any Governmental Authority applicable to such Credit Party or its properties and
            assets, (b) will conflict with or result in any breach of, any of the terms,
            covenants, conditions or provisions of, or constitute a default under, or result in the
            creation or imposition of (or the obligation to create or impose) any Lien upon any of
            the property or assets of such Credit Party pursuant to the terms of any promissory
            note, bond, debenture, indenture, mortgage, deed of trust, credit or loan agreement, or
            any other agreement or other instrument, to which such Credit Party is a party or by
            which it or any of its property or assets are bound or to which it may be subject, or
            (c) will violate any provision of the certificate or articles of incorporation,
            code of regulations or by-laws, or other charter documents of such Credit
            Party.

             

             

            
                	
                            
                            

                        	
                            
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            Section 7.4.      
            Governmental Approvals. No material order,
            consent, approval, license, authorization, or validation of, or filing, recording or
            registration with, or exemption by, any Governmental Authority is required to authorize
            or is required as a condition to (a) the execution, delivery and performance by any
            Credit Party of any Credit Document to which it is a party, or (b) the legality,
            validity, binding effect or enforceability of any Credit Document to which any Credit
            Party is a party.

            
            Section 7.5.      
            Litigation. There are no actions, suits or
            proceedings pending or, to, the knowledge of any Borrower, threatened with respect to
            such Borrower or any of its Subsidiaries (i) that have, or could reasonably be
            expected to have, a Material Adverse Effect, or (ii) that question the validity or
            enforceability of any of the Credit Documents, or of any action to be taken by any of
            the Credit Parties pursuant to any of the Credit Documents.

             

            
                	
                            
                             

                        	
                            
                            Section 7.6.

                        	
                            
                            Use of Proceeds; Margin
                            Regulations.

                        

            

            
            (a)        The proceeds of all
            Loans shall be utilized to refinance existing senior debt facilities, provide funds for
            Permitted Acquisitions and provide working capital and funds for general corporate and
            other lawful purposes not inconsistent with the requirements of this
            Agreement.

            
            (b)       No part of the proceeds of
            any Credit Event will be used directly or indirectly to purchase or carry Margin Stock,
            or to extend credit to others for the purpose of purchasing or carrying any Margin
            Stock, in violation of any of the provisions of Regulation T, U or X of the Board of
            Governors of the Federal Reserve System. No Borrower is engaged in the business of
            extending credit for the purpose of purchasing or carrying any Margin Stock. At no time
            would more than 25% of the value of the assets of any Borrower or of any Borrower and
            its consolidated Subsidiaries that are subject to any “arrangement” (as
            such term is used in Section 221.2(g) of such Regulation U) hereunder be
            represented by Margin Stock.

             

            
                	
                            
                             

                        	
                            
                            Section 7.7.

                        	
                            
                            Financial
                            Statements.

                        

            

            
            (a)        The Parent has
            furnished to the Lenders and the Administrative Agent complete and correct copies of
            the audited consolidated balance sheets of the Parent and its consolidated Subsidiaries
            as of December 31, 2007 and the related audited consolidated statements of
            income, shareholders’ equity, and cash flows of the Parent and its consolidated
            Subsidiaries for the fiscal year then ended, accompanied by the report thereon of
            PriceWaterhouse Coopers, as included in the Parent’s Report on Form 10-K filed
            with the SEC. All such financial statements have been prepared in accordance with GAAP,
            consistently applied (except as stated therein), and fairly present the financial
            position of the entities described in such financial statements as of the respective
            dates indicated and the consolidated results of their operations and cash flows for the
            respective periods indicated, subject in the case of any such financial statements that
            are unaudited, to normal audit adjustments, none of which will involve a Material
            Adverse Effect. The Parent and its Subsidiaries did not have, as of the date of the
            latest financial statements referred to above, and will not have as of the Closing Date
            after giving effect to the incurrence of Loans hereunder, any material or significant
            contingent liability or liability for taxes, long-term lease or unusual forward or
            long-term commitment that is not reflected in the foregoing financial statements or the
            notes thereto in accordance with GAAP and that in any such case is material in relation
            to the business, operations, properties, assets, financial or other condition or
            prospects of the Parent or any of its Subsidiaries.

            
            (b)       The Parent has delivered or
            caused to be delivered to the Lenders prior to the execution and delivery of this
            Agreement financial projections prepared by management of the Parent for the Parent and
            its Subsidiaries for the fiscal years 2008 through 2012 (the
            “Financial
            Projections”). The Financial Projections were prepared
            on behalf of the Parent in good faith after taking into account historical levels of
            business activity of the Parent and its Subsidiaries;
            provided, that no representation or
            warranty is

             

             

            
                	
                            
                            

                        	
                            
                            47

                        

            

             

            
            

            

             

            
            made as to the impact of future general economic conditions or as to
            whether the Parent’s projected consolidated results as set forth in the Financial
            Projections will actually be realized. No facts are known to the Parent at the date
            hereof that, if reflected in the Financial Projections, would result in a material
            adverse change in the assets, liabilities, results of operations or cash flows
            reflected therein.

            
            Section 7.8.      
            Solvency. Each Borrower has received
            consideration that is the reasonable equivalent value of the obligations and
            liabilities that such Borrower has incurred to the Administrative Agent and the
            Lenders. Each Borrower now has capital sufficient to carry on its business and
            transactions and all business and transactions in which it is about to engage and is
            now solvent and able to pay its debts as they mature and each Borrower, as of the
            Closing Date, owns property having a value, both at fair valuation and at present fair
            salable value, greater than the amount required to pay such Borrower’s debts; and
            no Borrower is entering into the Credit Documents with the intent to hinder, delay or
            defraud its creditors. For purposes of this Section 7.8,
            “debt” means any
            liability on a claim, and
            “claim” means
            (x) right to payment whether or not such a right is reduced to judgment,
            liquidated, unliquidated, fixed, contingent, matured, unmatured, disputed, undisputed,
            legal, equitable, secured or unsecured; or (y) right to an equitable remedy for
            breach of performance if such breach gives rise to a payment, whether or not such right
            to an equitable remedy is reduced to judgment, fixed, contingent, matured, unmatured,
            disputed, undisputed, secured or unsecured.

            
            Section 7.9.      
            No Material Adverse Change. As of the
            Closing Date, since December 31, 2007 there has been no change in the financial or
            other condition, business, affairs or prospects of the Parent and its Subsidiaries
            taken as a whole, or their properties and assets considered as an entirety, except for
            changes none of which, individually or in the aggregate, has had or could reasonably be
            expected to have, a Material Adverse Effect.

            
            Section 7.10.     Tax
            Returns and Payments. Each of the Parent and each of its
            Subsidiaries has filed all federal income tax returns and all other material tax
            returns, domestic and foreign, required to be filed by it and has paid all material
            taxes and assessments payable by it that have become due, other than those not yet
            delinquent and except for those contested in good faith. The Parent and each of its
            Subsidiaries has established on its books such charges, accruals and reserves in
            respect of taxes, assessments, fees and other governmental charges for all fiscal
            periods as are required by GAAP. No Borrower knows of any proposed assessment for
            additional federal, foreign or state taxes for any period, or of any basis therefor,
            that, individually or in the aggregate, taking into account such charges, accruals and
            reserves in respect thereof as the Parent and its Subsidiaries have made, could
            reasonably be expected to have a Material Adverse Effect.

            
            Section 7.11.     Title to
            Properties. The Parent and each of its Subsidiaries has good
            and marketable title, in the case of Real Property, and good title (or valid
            Leaseholds, in the case of any leased property), in the case of all other property, to
            all of its properties and assets free and clear of Liens other than Permitted Liens.
            The interests of the Parent and each of its Subsidiaries in the properties reflected in
            the most recent balance sheet referred to in Section 7.7, taken as a whole, were
            sufficient, in the judgment of the Parent, as of the date of such balance sheet for
            purposes of the ownership and operation of the businesses conducted by the Parent and
            such Subsidiaries.

            
            Section 7.12.     Lawful
            Operations. The Parent and each of its
            Subsidiaries:  (a) holds all necessary federal, state and local
            governmental licenses, registrations, certifications, permits and authorizations
            necessary to conduct its business; and (b) is in full compliance with all material
            requirements imposed by law, regulation or rule, whether federal, state or local, that
            are applicable to it, its operations, or its properties and assets, including without
            limitation, applicable requirements of Environmental Laws, except for any failure to
            obtain and maintain in effect, or noncompliance, that, individually or in the
            aggregate, could not reasonably be expected to have a Material Adverse
            Effect.

             

             

            
                	
                            
                            

                        	
                            
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                            Section 7.13.

                        	
                            
                            Environmental
                            Matters.

                        

            

            
            (a)        The Parent and each
            of its Subsidiaries is in compliance with all Environmental Laws governing its
            business, except to the extent that any such failure to comply (together with any
            resulting penalties, fines or forfeitures) would not reasonably be expected to have a
            Material Adverse Effect. All licenses, permits, registrations or approvals required for
            the conduct of the business of the Parent and each of its Subsidiaries under any
            Environmental Law have been secured and the Parent and each of its Subsidiaries is in
            substantial compliance therewith, except for such licenses, permits, registrations or
            approvals the failure to secure or to comply therewith is not reasonably likely to have
            a Material Adverse Effect. Neither the Parent nor any of its Subsidiaries has received
            written notice, or otherwise knows, that it is in any respect in noncompliance with,
            breach of or default under any applicable writ, order, judgment, injunction, or decree
            to which the Parent or such Subsidiary is a party or that would affect the ability of
            the Parent or such Subsidiary to operate any Real Property and no event has occurred
            and is continuing that, with the passage of time or the giving of notice or both, would
            constitute noncompliance, breach of or default thereunder, except in each such case,
            such noncompliance, breaches or defaults as would not reasonably be expected to, in the
            aggregate, have a Material Adverse Effect. There are no Environmental Claims pending
            or, to the best knowledge of the Borrowers, threatened wherein an unfavorable decision,
            ruling or finding would reasonably be expected to have a Material Adverse Effect. There
            are no facts, circumstances, conditions or occurrences on any Real Property now or at
            any time owned, leased or operated by the Parent or any of its Subsidiaries or on any
            property adjacent to any such Real Property, that are known by any Borrower or as to
            which the Parent or any such Subsidiary has received written notice, that could
            reasonably be expected: (i) to form the basis of an Environmental Claim against
            the Parent or any of its Subsidiaries or any Real Property of the Parent or any of its
            Subsidiaries; or (ii) to cause such Real Property to be subject to any restrictions on
            the ownership, occupancy, use or transferability of such Real Property under any
            Environmental Law, except in each such case, such Environmental Claims or restrictions
            that individually or in the aggregate would not reasonably be expected to have a
            Material Adverse Effect.

            
            (b)       Hazardous Materials have
            not at any time been (i) generated, used, treated or stored on, or transported to or
            from, any Real Property of the Parent or any of its Subsidiaries or (ii) released on
            any such Real Property, in each case where such occurrence or event is not in
            compliance with Environmental Laws and is reasonably likely to have a Material Adverse
            Effect.

            
            Section 7.14.    
            Compliance with ERISA. Compliance by each
            Borrower with the provisions hereof and Credit Events contemplated hereby will not
            involve any prohibited transaction within the meaning of ERISA or Section 4975 of
            the Code. The Parent and each of its Subsidiaries, (a) has fulfilled all
            obligations under minimum funding standards of ERISA and the Code with respect to each
            Plan that is not a Multiemployer Plan or a Multiple Employer Plan, (b) has satisfied
            all respective contribution obligations in respect of each Multiemployer Plan and each
            Multiple Employer Plan, (c) is in compliance in all material respects with all
            other applicable provisions of ERISA and the Code with respect to each Plan, each
            Multiemployer Plan and each Multiple Employer Plan, and (d) has not incurred any
            liability under the Title IV of ERISA to the PBGC with respect to any Plan, any
            Multiemployer Plan, any Multiple Employer Plan, or any trust established thereunder. No
            Plan or trust created thereunder has been terminated, and there have been no Reportable
            Events, with respect to any Plan or trust created thereunder or with respect to any
            Multiemployer Plan or Multiple Employer Plan, which termination or Reportable Event
            will or could result in the termination of such Plan, Multiemployer Plan or Multiple
            Employer Plan and give rise to a material liability of the Parent or any ERISA
            Affiliate in respect thereof. Neither the Parent nor any ERISA Affiliate is at the date
            hereof, or has been at any time within the two years preceding the date hereof, an
            employer required to contribute to any Multiemployer Plan or Multiple Employer Plan, or
            a “contributing sponsor” (as such term is defined in Section 4001 of
            ERISA) in any Multiemployer Plan or Multiple Employer Plan. Neither the Parent nor any
            ERISA Affiliate has any

             

             

            
                	
                            
                            

                        	
                            
                            49

                        

            

             

            
            

            

             

            
            contingent liability with respect to any post-retirement “welfare
            benefit plan” (as such term is defined in ERISA) except as has been disclosed to
            the Lenders in writing.

            
            Section 7.15.    
            Intellectual Property. The Parent and each
            of its Subsidiaries has obtained or has the right to use all material patents,
            trademarks, service marks, trade names, copyrights, licenses and other rights with
            respect to the foregoing necessary for the present and planned future conduct of its
            business, without any known conflict with the rights of others, except for such
            patents, trademarks, service marks, trade names, copyrights, licenses and rights, the
            loss of which, and such conflicts, that in any such case individually or in the
            aggregate would not reasonably be expected to have a Material Adverse
            Effect.

            
            Section 7.16.    
            Investment Company Act; Federal Power Act.
            None of the Parent or any of its Subsidiaries is subject to regulation with respect to
            the creation or incurrence of Indebtedness under the Investment Company Act of 1940, as
            amended. None of the Parent or any of its Subsidiaries, or any Affiliate of any of
            them, is subject to regulation under the FPA, or under applicable state or other laws
            and regulations respecting the rates or the financial or organizational regulation of
            electric utilities, as a result of the creation or incurrence of the Obligations or the
            entering into this Agreement or any other Credit Document or the consummation of any
            transaction contemplated hereby or thereby.

            
            Section 7.17.    
            Insurance. The Parent and each of its
            Subsidiaries maintains insurance coverage by such insurers and in such forms and
            amounts and against such risks as are generally consistent with industry standards and
            in compliance with the terms of the Credit Documents.

            
            Section 7.18.     True and
            Complete Disclosure. All factual information (taken as a
            whole) heretofore or contemporaneously furnished by or on behalf of the Parent or any
            of its Subsidiaries in writing to the Administrative Agent or any Lender for purposes
            of or in connection with this Agreement or any transaction contemplated herein, other
            than the Financial Projections (as to which representations are made only as provided
            in Section 7.7), is, and all other such factual information (taken as a whole)
            hereafter furnished by or on behalf of such Person in writing to any Lender will be,
            true and accurate in all material respects on the date as of which such information is
            dated or certified and not incomplete by omitting to state any material fact necessary
            to make such information (taken as a whole) not misleading at such time in light of the
            circumstances under which such information was
            provided, except that any such future
            information consisting of financial projections prepared by the Parent or any other
            Borrower is only represented herein as being based on good faith estimates and
            assumptions believed by such Persons to be reasonable at the time made, it being
            recognized by the Lenders that such projections as to future events are not to be
            viewed as facts and that actual results during the period or periods covered by any
            such projections may differ materially from the projected results.

            
            ARTICLE VIII.

             

            
            AFFIRMATIVE COVENANTS

            
            Each Borrower hereby covenants and agrees that on the Closing Date and
            thereafter so long as this Agreement is in effect and until such time as the Total
            Commitment has been terminated, no Notes remain outstanding and the Loans, together
            with interest, Fees and all other Obligations incurred hereunder and under the other
            Credit Documents, have been paid in full:

            
                	
                            
                             

                        	
                            
                            Section 8.1.

                        	
                            
                            Reporting
                            Requirements.

                        

            

            
            The Parent will furnish to each Lender and the Administrative Agent in
            the manner and methods provided for below and in Section 12.3(c):

             

             

            
                	
                            
                            

                        	
                            
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            (a)        
            Annual Financial Statements. As soon as
            available and in any event within 90 days after the close of each fiscal year of the
            Parent, the consolidated balance sheets of the Parent and its consolidated Subsidiaries
            as at the end of such fiscal year and the related consolidated statements of income, of
            stockholders’ equity and of cash flows for such fiscal year, in each case setting
            forth comparative figures for the preceding fiscal year, all in reasonable detail and
            accompanied by the opinion with respect to such consolidated financial statements of
            independent public accountants of recognized national standing selected by the Parent,
            which opinion shall be unqualified and shall (i) state that such accountants audited
            such consolidated financial statements in accordance with generally accepted auditing
            standards, that such accountants believe that such audit provides a reasonable basis
            for their opinion, and that in their opinion such consolidated financial statements
            present fairly, in all material respects, the consolidated financial position of the
            Parent and its consolidated Subsidiaries as at the end of such fiscal year and the
            consolidated results of their operations and cash flows for such fiscal year in
            conformity with generally accepted accounting principles, or (ii) contain such
            statements as are customarily included in unqualified reports of independent
            accountants in conformity with the recommendations and requirements of the American
            Institute of Certified Public Accountants (or any successor organization).

            
            (b)       
            Quarterly Financial Statements. As soon as
            available and in any event within 45 days after the close of each of the quarterly
            accounting periods in each fiscal year of the Parent, the unaudited consolidated
            balance sheets of the Parent and its consolidated Subsidiaries as at the end of such
            quarterly period and the related unaudited consolidated statements of income and of
            cash flows for such quarterly period and/or for the fiscal year to date, and setting
            forth, in the case of such unaudited consolidated statements of income and of cash
            flows, comparative figures for the related periods in the prior fiscal year, and that
            shall be certified on behalf of the Parent by the Chief Financial Officer or other
            Authorized Officer of the Parent, subject to changes resulting from normal year-end
            audit adjustments.

            
            (c)        
            Officer’s Compliance Certificates. At
            the time of the delivery of the financial statements provided for in
            Sections 8.1(a) and (b), a Compliance Certificate.

            
            (d)       
            Notice of Default, Litigation or Material Adverse
            Effect. Promptly, and in any event within three Business
            Days, in the case of clause (i) below, or five Business Days, after the Parent or any
            of its Subsidiaries obtains knowledge thereof, notice of (i) the occurrence of any
            event that constitutes a Default or Event of Default, which notice shall specify the
            nature thereof, the period of existence thereof and what action the Borrowers have
            taken or propose to take with respect thereto, and (ii) the commencement of, or
            any other material development concerning, any litigation, governmental or regulatory
            proceeding pending against the Parent or any of its Subsidiaries, or any other event if
            the same involves any reasonable possibility of having a Material Adverse
            Effect.

            
            (e)        
            ERISA. Promptly, and in any event within 10
            days after the Parent, any Subsidiary of the Parent or any ERISA Affiliate knows of the
            occurrence of any of the following, the Parent will deliver to each of the Lenders a
            certificate on behalf of the Borrowers of an Authorized Officer of the Parent setting
            forth the full details as to such occurrence and the action, if any, that the Parent,
            such Subsidiary or such ERISA Affiliate is required or proposes to take, together with
            any notices required or proposed to be given to or filed with or by the Parent, the
            Subsidiary, the ERISA Affiliate, the PBGC, a Plan participant or the Plan administrator
            with respect thereto (i) that a Reportable Event has occurred with respect to any Plan;
            (ii) the institution of any steps by the Parent, any ERISA Affiliate, the PBGC or
            any other Person to terminate any Plan; (iii) the institution of any steps by the
            Parent or any ERISA Affiliate to withdraw from any Plan; (iv) the institution of any
            steps by the Parent or any Subsidiary to withdraw from any Multiemployer Plan or
            Multiple Employer Plan, if such withdrawal could result in withdrawal liability (as
            described in Part 1 of Subtitle E of Title IV of ERISA) in excess of $7,500,000;
            (v) a non-exempt “prohibited transaction” within the meaning of
            Section 406 of ERISA in connection with any Plan;

             

             

            
                	
                            
                            

                        	
                            
                            51

                        

            

             

            
            

            

             

            
            (vi) that a Plan has an Unfunded Current Liability exceeding
            $25,000,000; (vii) any material increase in the contingent liability of the Parent or
            any Subsidiary with respect to any post-retirement welfare liability; or (ix) the
            taking of any action by, or the threatening of the taking of any action by, the
            Internal Revenue Service, the Department of Labor or the PBGC with respect to any of
            the foregoing.

            
            (f)        
            SEC Reports and Registration Statements.
            Promptly after transmission thereof or other filing with the SEC, copies of all
            registration statements (other than the exhibits thereto and any registration statement
            on Form S-8 or its equivalent) and all annual, quarterly or current reports that the
            Parent or any of its Subsidiaries files with the SEC on Form 10-K, 10-Q or 8-K (or any
            successor forms).

            
            (g)       
            Annual and Quarterly Reports, Proxy Statements and other Reports
            Delivered to Stockholders Generally. Promptly after
            transmission thereof to its stockholders, copies of all annual, quarterly and other
            reports and all proxy statements that the Parent furnishes to its stockholders
            generally.

            
            (h)       
            Press Releases. Promptly after the release
            thereof to any news organization or news distribution organization, copies of any press
            releases and other similar statements intended to be made available generally by the
            Parent or any of its Subsidiaries to the public concerning material developments
            relating to the Parent or any of its Subsidiaries.

            
            (i)        
            Changes in Ratings. Upon a public
            announcement thereof, any change in the Parent S&P Rating and/or the Parent
            Moody’s Rating.

            
            (j)        
            Other Information. Promptly, but in any
            event within 10 Business Days upon request therefor, such other information or
            documents (financial or otherwise) relating to the Parent or any of its Subsidiaries as
            the Administrative Agent or any Lender may reasonably request from time to
            time.

            
            Section 8.2.      
            Books, Records and Inspections. Each
            Borrower will, and will cause each of its Subsidiaries to, (a) keep proper books of
            record and account, in which full and correct entries shall be made of all financial
            transactions and the assets and business of such Borrower or such Subsidiaries, as the
            case may be, in accordance with GAAP; (b) permit, upon at least two Business
            Days’ notice to the Chief Financial Officer of any Borrower, officers and
            designated representatives of the Administrative Agent or any of the Lenders (i) to
            visit and inspect any of the properties or assets of such Borrower and any of its
            Subsidiaries in whomsoever’s possession (but only to the extent such Borrower or
            such Subsidiary has the right to do so to the extent in the possession of another
            Person), and (ii) to examine the books of account of such Borrower and any of its
            Subsidiaries, and make copies thereof and take extracts therefrom, (A) if no Default or
            Event of Default has occurred and is continuing, twice per calendar year and to such
            reasonable extent as the Administrative Agent or any of the Lenders may request, or (B)
            if a Default or Event of Default has occurred and is continuing, at such reasonable
            times and intervals and to such reasonable extent as the Administrative Agent or any of
            the Lenders may request; and (c) permit, upon at least two Business Days’ notice
            to the Chief Financial Officer of any Borrower, officers and designated representatives
            of the Administrative Agent or any of the Lenders to discuss the affairs, finances and
            accounts of such Borrower and of any of its Subsidiaries with, and be advised as to the
            same by, its and their officers and independent accountants and independent actuaries,
            if any, at such reasonable times and intervals and to such reasonable extent as the
            Administrative Agent or any of the Lenders may request.

            
            Section 8.3.      
            Insurance. Each Borrower will, and will
            cause each of its Subsidiaries to, (i) maintain insurance coverage by such
            insurers and in such forms and amounts and against such risks as are generally
            consistent with the insurance coverage maintained by such Borrower and its Subsidiaries
            at the date hereof, and (ii) forthwith upon any Lender’s written request, furnish
            to such Lender such information about such insurance as such Lender may from time to
            time reasonably request, which

             

             

            
                	
                            
                            

                        	
                            
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            information shall be prepared in form and detail satisfactory to such
            Lender and certified by an Authorized Officer of such Borrower.

            
            Section 8.4.      
            Payment of Taxes and Claims. Each Borrower
            will pay and discharge, and will cause each of its Subsidiaries to pay and discharge,
            all taxes, assessments and governmental charges or levies imposed upon it or upon its
            income or profits, or upon any properties belonging to it, prior to the date on which
            penalties attach thereto, and all lawful claims that, if unpaid, might become a Lien or
            charge upon any properties of such Borrower or any of its
            Subsidiaries;provided that no
            Borrower or any of its Subsidiaries shall be required to pay any such tax, assessment,
            charge, levy or claim that is being contested in good faith and by proper proceedings
            if it has maintained adequate reserves with respect thereto in accordance with GAAP.
            Without limiting the generality of the foregoing, each Borrower will, and will cause
            each of its Subsidiaries to, pay in full all of its wage obligations to its employees
            in accordance with the Fair Labor Standards Act (29 U.S.C. Sections 206-207) and
            any comparable provisions of applicable law.

            
            Section 8.5.      
            Preservation of Existence, etc. Each
            Borrower will, and will cause each of its Subsidiaries to, (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
            9.2; (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 could 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 could
            reasonably be expected to have a Material Adverse Effect.

            
            Section 8.6.      
            Good Repair. Each Borrower will, and will
            cause each of its Subsidiaries to, ensure that its material properties and equipment
            used or useful in its business in whomsoever’s possession they may be, are kept
            in good repair, working order and condition, normal wear and tear excepted, and that
            from time to time there are made in such properties and equipment all needful and
            proper repairs, renewals, replacements, extensions, additions, betterments and
            improvements, thereto, to the extent and in the manner customary for companies in
            similar businesses.

            
            Section 8.7.      
            Compliance with Statutes, Regulations, Orders,
            Restrictions. Each Borrower will, and will cause each of its
            Subsidiaries to, comply, in all material respects, with all applicable statutes,
            regulations and orders of, and all applicable restrictions imposed by, all Governmental
            Authorities, in respect of the conduct of its business and the ownership of its
            property, including all applicable Environmental Laws other than those the
            noncompliance with which would not have, and that would not be reasonably expected to
            have, a Material Adverse Effect.

            
            Section 8.8.      
            Fiscal Years, Fiscal Quarters. No Borrower
            shall change any of its or any of its Subsidiaries’ fiscal years or fiscal
            quarters (other than the fiscal year or fiscal quarters of a Person that becomes a
            Subsidiary, made at the time such Person becomes a Subsidiary to conform to the
            Borrowers’ fiscal year and fiscal quarters).

            
            Section 8.9.      
            Senior Debt. The Borrowers will at all
            times ensure that (a) the claims of the Lenders in respect of the Obligations of
            the Borrowers will not be subordinate to, and will in all respects rank at least
            pari passu with or senior to the claims of
            every unsecured creditor of any of the Borrowers, and (b) any Indebtedness of any
            of the Borrowers that is subordinated in any manner to the claims of any other creditor
            of any of the Borrowers will be subordinated in like manner to such claims of the
            Lenders.

             

             

            
                	
                            
                            

                        	
                            
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            ARTICLE IX.

             

            
            NEGATIVE COVENANTS

            
            Each Borrower hereby covenants and agrees that on the Closing Date and
            thereafter for so long as this Agreement is in effect and until such time as the Total
            Commitment has been terminated, no Notes remain outstanding and the Loans, together
            with interest, Fees and all other Obligations incurred hereunder and under the other
            Credit Documents, have been paid in full:

            
            Section 9.1.      
            Changes in Business. Neither the Parent nor
            any of its Subsidiaries will engage in any business if, as a result, the general nature
            of the business, taken on a consolidated basis, that would then be engaged in by the
            Parent and its Subsidiaries, would be substantially changed from the general nature of
            the business engaged in by the Parent and its Subsidiaries on the Closing
            Date.

            
            Section 9.2.      
            Merger, Consolidation, Acquisitions, Asset
            Sales. No Borrower will, and no Borrower will permit any of
            its Subsidiaries to, (a) wind up, liquidate or dissolve its affairs, (b) enter into any
            transaction of merger or consolidation, (c) make or otherwise effect any Acquisition,
            (d) sell or otherwise dispose of any of its property or assets outside the ordinary
            course of business, or otherwise make or otherwise effect any Asset Sale, or (e) agree
            to do any of the foregoing at any future time, except that the following shall be
            permitted:

            
            (i)       a Subsidiary of the Parent
            (other than the Utility) may merge into the Parent;

            
            (ii)       any Subsidiary of the
            Parent may merge with another Subsidiary of the Parent,
            provided that the surviving Person in any
            such merger involving the Utility shall be the Utility;

            
            (iii)      any Subsidiary of the Parent
            may merge with any Person (other than the Parent or any other Subsidiary of the
            Parent), provided that (a) the
            surviving Person in any such merger shall be such Subsidiary and (b) immediately before
            and after such merger there shall not exist any Default or Event of Default;

            
            (iv)      the Parent may merge with any
            Person (other than the Utility), provided
            that (a) the surviving Person in any such merger shall be the Parent and
            (b) immediately before and after such merger there shall not exist any Default or Event
            of Default;

            
            (v)       any Subsidiary of the
            Parent may make or effect any Asset Sale to the Parent or another Wholly-Owned
            Subsidiary of the Parent, provided
            that the Utility shall not make or effect an Asset Sale of all or
            substantially all of its assets to any Person;

            
            (vi)      the Parent and its Subsidiaries
            may sell inventory in the ordinary course of business;

            
            (vii)     in addition to any other Asset Sale
            permitted pursuant to any other subpart in this Section 9.2, the Parent and its
            Subsidiaries may make or effect Asset Sales so long as the aggregate amount (based upon
            the fair market value of the assets) of all assets sold or otherwise disposed pursuant
            to all such Asset Sales on and after the Closing Date does not exceed 10% of the
            Consolidated Tangible Assets at the time of and after giving effect to any such Asset
            Sale;

            
            (viii)    the Parent or any Subsidiary of the Parent
            may make any Permitted Acquisition; and

             

             

            
                	
                            
                            

                        	
                            
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            (ix)      the Parent and its Subsidiaries
            shall be permitted to make and dispose of Investments permitted pursuant to Section
            9.4.

            
            Section 9.3.      
            Liens. No Borrower will, and no Borrower
            will permit any of its Subsidiaries to, create, incur, assume or suffer to exist any
            Lien upon or with respect to any property or assets of any kind (real or personal,
            tangible or intangible) of such Borrower or any such Subsidiary whether now owned or
            hereafter acquired, or sell any such property or assets subject to an understanding or
            agreement, contingent or otherwise, to repurchase such property or assets (including
            sales of accounts receivable or notes with or without recourse to any Borrower or any
            of its Subsidiaries, other than for purposes of collection of delinquent accounts in
            the ordinary course of business) or assign any right to receive income, or file or
            permit the filing of any financing statement under the UCC or any other similar notice
            of Lien under any similar recording or notice statute, except that the foregoing
            restrictions shall not apply to:

            
                	
                            
                             

                        	
                            
                            (a)

                        	
                            
                            the Standard Permitted Liens;

                        

            

            
            (b)       Liens (i) in existence on
            the Closing Date that are listed, and the Indebtedness secured thereby and the property
            subject thereto on the Closing Date described, on
            Schedule 9.3, or (ii) arising out of
            the refinancing, extension, renewal or refunding of any Indebtedness secured by any
            such Liens, provided that the
            principal amount of such Indebtedness is not increased and such Indebtedness is not
            secured by any additional assets;

            
            (c)        any Lien existing on
            any fixed assets prior to the acquisition thereof by the Parent or any of its
            Subsidiaries, or existing on any fixed assets of any Person that becomes a Subsidiary
            after the date hereof prior to the time such Person becomes a Subsidiary,
            provided that (i) such Lien is not
            created in contemplation of or in connection with such acquisition or such Person
            becoming a Subsidiary, as the case may be, (ii) such Lien shall not attach or apply to
            any other property or assets of the Parent or any of its Subsidiaries, and (iii) such
            Lien shall secure only those obligations that it secures on the date of such
            acquisition or the date such Person becomes a Subsidiary, as the case may be;
            and

            
            (d)       any Lien securing
            Indebtedness in respect of purchase money obligations or Capital Lease Obligations for
            the acquisition or lease of fixed assets, provided
            that (i) such Lien only attaches to such fixed assets being acquired or
            leased, (ii) the Indebtedness secured by such Lien does not exceed the cost or fair
            market value, whichever is lower, of the fixed assets being acquired or leased on the
            date of acquisition or lease, and (iii) the aggregate principal amount of Indebtedness
            at any time outstanding secured by a Lien described in this subsection (d) shall not
            exceed an amount equal to 5% of the Consolidated Tangible Assets at such
            time.

            
            Section 9.4.      
            Investments. No Borrower will, and no
            Borrower will permit any of its Subsidiaries to, make or hold any Investments, except
            (a) Investments held by a Borrower or any Subsidiary of a Borrower in cash or Cash
            Equivalents; (b) Investments of the Parent in any of its Subsidiaries; (c) Investments
            of a Subsidiary of the Parent in the Parent or any other Subsidiary of the Parent; (d)
            Permitted Acquisitions; and (e) Investments in one or more Energy-Related Businesses or
            Persons (other than natural persons) engaged in Energy-Related Businesses.

            
            Section 9.5.      
            Consolidated Total Debt/Consolidated Total Capitalization
            Ratio. The Parent will not at any time permit the ratio of
            (i) Consolidated Total Debt to (ii) Consolidated Total Capitalization to exceed 0.65 to
            1.00.

            
            Section 9.6.      
            Transactions with Affiliates. Except as set
            forth on Schedule 9.6, no Borrower
            will, and no Borrower will permit any of its Subsidiaries to, enter into any
            transaction or series of

             

             

            
                	
                            
                            

                        	
                            
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            transactions with any Affiliate (other than, in the case of a Borrower,
            any Subsidiary of such Borrower, and in the case of a Subsidiary of a Borrower, a
            Borrower or another Subsidiary of such Borrower) other than in the ordinary course of
            business of and pursuant to the reasonable requirements of such Borrower’s or
            such Subsidiary’s business and upon fair and reasonable terms no less favorable
            to such Borrower or such Subsidiary than would be obtained in a comparable
            arm’s-length transaction with a Person other than an Affiliate, except
            (i) sales of goods to an Affiliate for use or distribution outside the United
            States that in the good faith judgment of such Borrower complies with any applicable
            legal requirements of the Code, or (ii) agreements and transactions with and payments
            to officers, directors and shareholders that are either (A) entered into in the
            ordinary course of business and not prohibited by any of the provisions of this
            Agreement, or (B) entered into outside the ordinary course of business, approved
            by the directors or shareholders of such Borrower, and not prohibited by any of the
            provisions of this Agreement.

            
            Section 9.7.      
            Plan Terminations, Minimum Funding. No
            Borrower will, and no Borrower will permit any ERISA Affiliate to, (a) terminate any
            Plan or Plans so as to result in liability of any Borrower or any ERISA Affiliate to
            the PBGC in excess of, in the aggregate, the amount that is equal to 5% of the
            Consolidated Net Worth as of the date of the then most recent financial statements
            furnished to the Lenders pursuant to the provisions of this Agreement, (b) permit
            to exist one or more events or conditions that reasonably present a material risk of
            the termination by the PBGC of any Plan or Plans with respect to which such Borrower or
            any ERISA Affiliate would, in the event of such termination, incur liability to the
            PBGC in excess of such amount in the aggregate, or (c) fail to comply with the
            minimum funding standards of ERISA and the Code with respect to any Plan.

            
            Section 9.8.      
            Material Agreements. Neither the Parent nor
            any Subsidiary of the Parent shall default in the performance, observance or
            fulfillment of any of the obligations, covenants or conditions contained in any
            agreement, instrument or other document to which the Parent or such Subsidiary, as
            applicable, is a party, which default could reasonably be expected to have a Material
            Adverse Effect.

            
            Section 9.9.      
            Utility Dividends. The Parent will not
            permit to exist any legal or contractual restriction on the ability of the Utility to
            pay dividends to the Parent except as set forth in the Settlement Agreement.

            
             

            
            ARTICLE X.

             

            
            EVENTS OF DEFAULT

            
            Section 10.1.     Events of
            Default. Any of the following specified events shall
            constitute an Event of Default (each an “Event of
            Default”):

            
            (a)        
            Payments: the Borrowers shall (i) default
            in the payment when due (whether at maturity, on a date fixed for a scheduled
            repayment, on a date on which a required prepayment is to be made, upon acceleration or
            otherwise) of any principal of the Loans; or (ii) default, and such default shall
            continue for five or more days, in the payment when due of any interest on the Loans or
            any Fees or any other amounts owing hereunder or under any other Credit
            Document;

            
            (b)       
            Representations: any representation,
            warranty or statement made by any Borrower or any other Credit Party herein or in any
            other Credit Document or in any statement or certificate delivered or

             

             

            
                	
                            
                            

                        	
                            
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            required to be delivered pursuant hereto or thereto shall prove to be
            untrue in any material respect on the date as of which made or deemed made;

            
            (c)        
            Certain Negative Covenants: any Borrower
            shall default in the due performance or observance by it of any term, covenant or
            agreement contained in Sections 8.1, 8.2(b), 8.5, 8.9or
            Article IX of this Agreement;

            
            (d)       
            Other Covenants: any Borrower shall default
            in the due performance or observance by it of any term, covenant or agreement contained
            in this Agreement or any other Credit Document, other than those referred to in
            Section 10.1(a), (b) or (c) above, and such default is not remedied within 30 days
            after the earlier of the date on which (i) an Authorized Officer of any Borrower
            obtains actual knowledge of such default and (ii) any Borrower receives written
            notice of such default from the Administrative Agent or the Required Lenders (any such
            notice to be identified as a “notice of default” and to refer specifically
            to this paragraph);

            
            (e)        
            Cross Default Under Other Agreements: any
            Borrower or any of its Subsidiaries shall (i) default in any payment with respect
            to any Indebtedness (other than the Obligations) in an aggregate amount of $15,000,000
            or greater, and such default shall continue after the applicable grace period, if any,
            specified in the agreement or instrument relating to such Indebtedness, or (ii) default
            in the observance or performance of any agreement or condition relating to any such
            Indebtedness or contained in any instrument or agreement evidencing, securing or
            relating thereto (and all grace periods applicable to such observance, performance or
            condition shall have expired), or any other event shall occur or condition exist, in
            each case, the effect of which default or other event or condition is to cause, or to
            permit the holder or holders of such Indebtedness (or a trustee or agent on behalf of
            such holder or holders) to cause any such Indebtedness to become due prior to its
            stated maturity; or any such Indebtedness of any Borrower or any of its Subsidiaries
            shall be declared to be due and payable, or shall be required to be prepaid (other than
            by a regularly scheduled required prepayment or redemption, prior to the stated
            maturity thereof);

            
            (f)        
            Invalidity of Credit Documents: any
            material provision of any Credit Document, at any time after its execution and delivery
            and for any reason other than as expressly permitted hereunder or under such Credit
            Document or satisfaction in full of all the Obligations, ceases to be in full force and
            effect; or any Credit Party or any other Person contests in any manner the validity or
            enforceability of any provision of any Credit Document; or any Credit Party denies that
            it has any or further liability or obligation under any Credit Document, or purports to
            revoke, terminate or rescind any Credit Document;

            
            (g)       
            Judgments: one or more judgments, orders or
            decrees shall be entered against any Borrower and/or any of its Subsidiaries involving
            a liability (other than a liability covered by insurance, as to which the carrier has
            adequate claims paying ability and has not effectively reserved its rights) of
            $10,000,000 or more in the aggregate for all such judgments, orders and decrees for the
            Parent and its Subsidiaries, and any such judgments or orders or decrees shall not have
            been vacated, discharged or stayed or bonded pending appeal within 30 days (or such
            longer period, not in excess of 60 days, during which enforcement thereof, and the
            filing of any judgment lien, is effectively stayed or prohibited) from the entry
            thereof; or (ii) one or more judgments, orders or decrees shall be entered against any
            Borrower and/or any of its Subsidiaries involving a required divestiture of any
            material properties, assets or business reasonably estimated to have a fair value in
            excess of $10,000,000, and any such judgments, orders or decrees shall not have been
            vacated, discharged or stayed or bonded pending appeal within 30 days (or such longer
            period, not in excess of 60 days, during which enforcement thereof, and the filing of
            any judgment lien, is effectively stayed or prohibited) from the entry
            thereof;

            
                	
                            
                             

                        	
                            
                            (h)

                        	
                            
                            Bankruptcy: any of the
                            following shall occur:

                        

            

             

             

            
                	
                            
                            

                        	
                            
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            (i)        any Borrower or any
            of its Subsidiaries (each Borrower and each such Subsidiary, each a
            “Principal Party”) shall
            commence a voluntary case concerning itself under the Bankruptcy Code;

            
            (ii)       an involuntary case is
            commenced against any Principal Party under the Bankruptcy Code and the petition is not
            controverted within 10 days, or is not dismissed within 60 days, after commencement of
            the case;

            
            (iii)      a custodian (as defined in the
            Bankruptcy Code) is appointed for, or takes charge of, all or substantially all of the
            property of any Principal Party;

            
            (iv)      any Principal Party commences
            (including by way of applying for or consenting to the appointment of, or the taking of
            possession by, a rehabilitator, receiver, custodian, trustee, conservator or liquidator
            (collectively, a
            “conservator”) of itself
            or all or any substantial portion of its property) any other proceeding under any
            reorganization, arrangement, adjustment of debt, relief of debtors, dissolution,
            insolvency, liquidation, rehabilitation, conservatorship or similar law of any
            jurisdiction whether now or hereafter in effect relating to such Principal
            Party;

            
            (v)       any such proceeding of the
            type set forth in clause (iv) above is commenced against any Principal Party to the
            extent such proceeding is consented by such Person or remains undismissed for a period
            of 60 days;

            
            (vi)       any Principal Party is
            adjudicated insolvent or bankrupt;

            
            (vii)     any order of relief or other order
            approving any such case or proceeding is entered;

            
            (viii)    any Principal Party suffers any
            appointment of any conservator or the like for it or any substantial part of its
            property that continues undischarged or unstayed for a period of 60 days;

            
            (ix)      any Principal Party makes a
            general assignment for the benefit of creditors or generally does not pay its debts as
            such debts become due; or

            
            (x)       any corporate (or similar
            organizational) action is taken by any Principal Party for the purpose of effecting any
            of the foregoing.

            
            (i)        
            ERISA: (i) any of the events described in
            clauses (i) through (viii) of Section 8.1(e) shall have occurred; or (ii) there
            shall result from any such event or events the imposition of a Lien, the granting of a
            security interest, or a liability or a material risk of incurring a liability; and
            (iii) any such event or events or any such Lien, security interest or liability,
            individually, and/or in the aggregate, in the opinion of the Required Lenders, has had,
            or could reasonably be expected to have, a Material Adverse Effect; or

            
            (j)        
            Change of Control: there occurs a Change of
            Control.

            
            Section 10.2.    
            Acceleration; Remedies. Upon the occurrence
            of any Event of Default, and at any time thereafter, if any Event of Default shall then
            be continuing, the Administrative Agent shall, upon the written request of the Required
            Lenders, by written notice to the Borrowers, take any or all of the following actions,
            without prejudice to the rights of the Administrative Agent or any Lender to enforce
            its claims against the Borrowers or any other Credit Party in any manner permitted
            under applicable law:

             

            
                	
                            
                            

                        	
                            
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            (a)        declare the Total
            Commitment terminated, whereupon the Commitment of each Lender shall forthwith
            terminate immediately without any other notice of any kind;

            
            (b)       declare the principal of
            and any accrued interest in respect of all Loans and all other Obligations owing
            hereunder to be, whereupon the same shall become, forthwith due and payable without
            presentment, demand, protest or other notice of any kind, all of which are hereby
            waived by the Borrowers; and/or

            
            (c)       terminate any Letter of
            Credit that may be terminated in accordance with its terms;

            
            (d)       direct the Borrowers to pay
            (and the Borrowers hereby agree that on receipt of such notice or upon the occurrence
            of an Event of Default with respect to the Borrowers under Section 11.1(h), it will
            pay) to the Administrative Agent an amount of cash equal to the aggregate Stated Amount
            of all Letters of Credit then outstanding (such amount to be held as security for the
            Borrowers’ (and any Subsidiary that is an account party) reimbursement
            obligations in respect thereof); and/or

            
            (e)        exercise any other
            right or remedy available under any of the Credit Documents or applicable
            law;

            
            provided that, if an Event of Default
            specified in Section 10.1(h) shall occur, the result that would occur upon the
            giving of written notice by the Administrative Agent as specified in clauses (a) and/or
            (b) above shall occur automatically without the giving of any such notice.

            
            Section 10.3.    
            Application of Liquidation Proceeds. All
            monies received by the Administrative Agent or any Lender from the exercise of remedies
            hereunder or under the other Credit Documents or under any other documents relating to
            this Agreement shall, unless otherwise required by the terms of the other Credit
            Documents or by applicable law, be applied as follows:

            
            (a)        
            first, to the payment of all
            expenses (to the extent not otherwise paid by the Borrowers or any of the other Credit
            Parties) incurred by the Administrative Agent and the Lenders in connection with the
            exercise of such remedies, including, without limitation, all reasonable costs and
            expenses of collection, reasonable documented attorneys’ fees, court costs and
            any foreclosure expenses;

            
            (b)        second,
            to the payment pro rata of interest then accrued on the outstanding
            Loans;

            
            (c)        
            third, to the payment
            pro rata of any fees then accrued and
            payable to the Administrative Agent, any Letter of Credit Issuer or any Lender under
            this Agreement in respect of the Loans or the Letter of Credit Outstandings;

            
            (d)       
            fourth, to the payment
            pro rata of (A) the principal balance then
            owing on the outstanding Loans and (B) the Stated Amount of the Letter of Credit
            Outstandings (to be held and applied by the Administrative Agent as security for the
            reimbursement obligations in respect thereof);

            
            (e)        
            fifth, to the payment to the Lenders
            of any amounts then accrued and unpaid under Sections 2.6, 2.7, and 5.4, and if
            such proceeds are insufficient to pay such amounts in full, to the payment of such
            amounts pro rata;

            
            (f)        
            sixth, to the payment
            pro rata of all other amounts owed by any
            Borrower to the Administrative Agent, to any Letter of Credit Issuer or any Lender
            under this Agreement or any other Credit Document; and

             

             

            
                	
                            
                            

                        	
                            
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            (g)       
            finally, any remaining surplus after
            all of the Obligations have been paid in full, to the Borrowers or to whomsoever shall
            be lawfully entitled thereto.

            
            ARTICLE XI.

             

            THE
            ADMINISTRATIVE AGENT

            
            Section 11.1.    
            Appointment. Each Lender hereby irrevocably
            designates and appoints KeyBank as Administrative Agent to act as specified herein and
            in the other Credit Documents, and each such Lender hereby irrevocably authorizes
            KeyBank as the Administrative Agent for such Lender, to take such action on its behalf
            under the provisions of this Agreement and the other Credit Documents and to exercise
            such powers and perform such duties as are expressly delegated to the Administrative
            Agent by the terms of this Agreement and the other Credit Documents, together with such
            other powers as are reasonably incidental thereto. The Administrative Agent agrees to
            act as such upon the express conditions contained in this Article XI.
            Notwithstanding any provision to the contrary elsewhere in this Agreement, the
            Administrative Agent shall not have any duties or responsibilities, except those
            expressly set forth herein or in the other Credit Documents, nor any fiduciary
            relationship with any Lender, and no implied covenants, functions, responsibilities,
            duties, obligations or liabilities shall be read into this Agreement or otherwise exist
            against the Administrative Agent. The provisions of this Article XI are solely for
            the benefit of the Administrative Agent, and the Lenders, and no Borrower or any of
            their respective Subsidiaries shall have any rights as a third party beneficiary of any
            of the provisions hereof. In performing its functions and duties under this Agreement,
            the Administrative Agent shall act solely as agent of the Lenders and does not assume
            and shall not be deemed to have assumed any obligation or relationship of agency or
            trust with or for any Borrower or any of its Subsidiaries.

            
            Section 11.2.    
            Delegation of Duties. The Administrative
            Agent may execute any of its duties under this Agreement or any other Credit Document
            by or through agents or attorneys-in-fact and shall be entitled to advice of counsel
            concerning all matters pertaining to such duties. The Administrative Agent shall not be
            responsible for the negligence or misconduct of any agents or attorneys-in-fact
            selected by it with reasonable care except to the extent otherwise required by
            Section 11.3.

            
            Section 11.3.    
            Exculpatory Provisions. Neither the
            Administrative Agent nor any of its respective officers, directors, employees, agents,
            attorneys-in-fact or affiliates shall be (i) liable for any action lawfully taken or
            omitted to be taken by it or such Person under or in connection with this Agreement or
            any other Credit Document (except for its or such Person’s own gross negligence
            or willful misconduct) or (ii) responsible in any manner to any of the Lenders for any
            recitals, statements, representations or warranties made by any Borrower or any of its
            Subsidiaries or any of their respective officers contained in this Agreement, any other
            Credit Document or in any certificate, report, statement or other document referred to
            or provided for in, or received by the Administrative Agent under or in connection
            with, this Agreement or any other Credit Document or for any failure of any Borrower or
            any Subsidiary of the Borrowers or any of their respective officers to perform its
            obligations hereunder or thereunder. The Administrative Agent shall not be under any
            obligation to any Lender to ascertain or to inquire as to the observance or performance
            of any of the agreements contained in, or conditions of, this Agreement, or to inspect
            the properties, books or records of any Borrower or any of its Subsidiaries. The
            Administrative Agent shall not be responsible to any Lender for the effectiveness,
            genuineness, validity, enforceability, collectability or sufficiency of this Agreement
            or any Credit Document or for any representations, warranties, recitals or statements
            made herein or therein or made in any written or oral statement or in any financial or
            other statements, instruments, reports, certificates or any other documents in
            connection herewith or therewith furnished or made by the Administrative Agent to the
            Lenders or by or on behalf of any Borrower or any of its Subsidiaries to the
            Administrative Agent or any Lender or be required to ascertain or inquire as to the
            performance or observance of any of the terms, conditions,

             

             

            
                	
                            
                            

                        	
                            
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            provisions, covenants or agreements contained herein or therein or as to
            the use of the proceeds of the Loans or of the existence or possible existence of any
            Default or Event of Default.

            
            Section 11.4.     Reliance
            by Administrative Agent. The Administrative Agent shall be
            entitled to rely, and shall be fully protected in relying, upon any note, writing,
            resolution, notice, consent, certificate, affidavit, letter, cablegram, telegram,
            e-mail or other electronic transmission, facsimile transmission, telex or teletype
            message, statement, order or other document or conversation believed by it, in good
            faith, to be genuine and correct and to have been signed, sent or made by the proper
            Person or Persons and upon advice and statements of legal counsel (including, without
            limitation, counsel to any Borrower or any of its Subsidiaries), independent
            accountants and other experts selected by the Administrative Agent. The Administrative
            Agent shall be fully justified in failing or refusing to take any action under this
            Agreement or any other Credit Document unless it shall first receive such advice or
            concurrence of the Required Lenders as it deems appropriate or it shall first be
            indemnified to its satisfaction by the Lenders against any and all liability and
            expense that may be incurred by it by reason of taking or continuing to take any such
            action. The Administrative Agent shall in all cases be fully protected in acting, or in
            refraining from acting, under this Agreement and the other Credit Documents in
            accordance with a request of the Required Lenders (or all of the Lenders, or all of the
            Lenders (other than any Defaulting Lender), as applicable, as to any matter that,
            pursuant to Section 12.11, can only be effectuated with the consent of all
            Lenders, or all Lenders (other than any Defaulting Lender), as the case may be), and
            such request and any action taken or failure to act pursuant thereto shall be binding
            upon all the Lenders.

            
            Section 11.5.     Notice of
            Default. The Administrative Agent shall not be deemed to have
            knowledge or notice of the occurrence of any Default or Event of Default hereunder
            unless the Administrative Agent has received notice from a Lender or any Borrower
            referring to this Agreement, describing such Default or Event of Default and stating
            that such notice is a “notice of default.” If the Administrative Agent
            receives such a notice, the Administrative Agent shall give prompt notice thereof to
            the Lenders. The Administrative Agent shall take such action with respect to such
            Default or Event of Default as shall be reasonably directed by the Required
            Lenders, provided that unless and
            until the Administrative Agent shall have received such directions, the Administrative
            Agent may (but shall not be obligated to) take such action, or refrain from taking such
            action, with respect to such Default or Event of Default as it shall deem advisable in
            the best interests of the Lenders.

            
            Section 11.6.    
            Non-Reliance. Each Lender expressly
            acknowledges that neither the Administrative Agent nor any of its officers, directors,
            employees, agents, attorneys-in-fact or Affiliates have made any representations or
            warranties to it and that no act by the Administrative Agent hereinafter taken,
            including any review of the affairs of the Borrowers or any of their respective
            Subsidiaries, shall be deemed to constitute any representation or warranty by the
            Administrative Agent to any Lender. Each Lender represents to the Administrative Agent
            that it has, independently and without reliance upon the Administrative Agent, or any
            other Lender, and based on such documents and information as it has deemed appropriate,
            made its own appraisal of and investigation into the business, assets, operations,
            property, financial and other conditions, prospects and creditworthiness of the
            Borrowers and their respective Subsidiaries and made its own decision to make its Loans
            hereunder and enter into this Agreement. Each Lender also represents that it will,
            independently and without reliance upon the Administrative Agent, or any other Lender,
            and based on such documents and information as it shall deem appropriate at the time,
            continue to make its own credit analysis, appraisals and decisions in taking or not
            taking action under this Agreement, and to make such investigation as it deems
            necessary to inform itself as to the business, assets, operations, property, financial
            and other conditions, prospects and creditworthiness of the Borrowers and their
            respective Subsidiaries. The Administrative Agent shall not have any duty or
            responsibility to provide any Lender with any credit or other information concerning
            the business, operations, assets, property, financial and other conditions, prospects
            or creditworthiness of the

             

             

            
                	
                            
                            

                        	
                            
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            Borrowers or any of their respective Subsidiaries that may come into the
            possession of the Administrative Agent or any of its officers, directors, employees,
            agents, attorneys-in-fact or Affiliates.

            
            Section 11.7.    
            Indemnification. The Lenders agree to
            indemnify the Administrative Agent and its Related Parties ratably according to their
            respective Loans and Percentages of the Unutilized Total Commitment, from and against
            any and all liabilities, obligations, losses, damages, penalties, actions, judgments,
            suits, costs, reasonable expenses or disbursements of any kind whatsoever that may at
            any time (including, without limitation, at any time following the payment of the
            Obligations) be imposed on, incurred by or asserted against the Administrative Agent or
            such Related Party in any way relating to or arising out of this Agreement or any other
            Credit Document, or any documents contemplated by or referred to herein or the
            transactions contemplated hereby or any action taken or omitted to be taken by the
            Administrative Agent or such Related Party under or in connection with any of the
            foregoing, but only to the extent that any of the foregoing is not paid by the
            Borrowers, provided that no Lender
            shall be liable to the Administrative Agent or such Related Party for the payment of
            any portion of such liabilities, obligations, losses, damages, penalties, actions,
            judgments, suits, costs, expenses or disbursements to the extent resulting solely from
            the Administrative Agent’s or such Related Party’s gross negligence or
            willful misconduct. If any indemnity furnished to the Administrative Agent or any
            Related Party for any purpose shall, in the opinion of the Administrative Agent, be
            insufficient or become impaired, the Administrative Agent may call for additional
            indemnity and cease, or not commence, to do the acts indemnified against until such
            additional indemnity is furnished. The agreements in this Section 11.7 shall
            survive the payment of all Obligations.

            
            Section 11.8.     The
            Administrative Agent in Individual Capacity. The
            Administrative Agent and its Affiliates may make loans to, accept deposits from and
            generally engage in any kind of business with any Borrower, its Subsidiaries and their
            Affiliates as though not acting as Administrative Agent hereunder. With respect to the
            Loans made by it and all Obligations owing to it, the Administrative Agent shall have
            the same rights and powers under this Agreement as any Lender and may exercise the same
            as though it were not the Administrative Agent, and the terms “Lender” and
            “Lenders” shall include the Administrative Agent in its individual
            capacity.

            
            Section 11.9.     Successor
            Administrative Agent. The Administrative Agent may resign at
            any time upon not less than 30 days notice to the Lenders, each Letter of Credit Issuer
            and the Borrowers. Upon receipt of any such notice of resignation, the Required Lenders
            shall have the right, in consultation with the Borrowers, to appoint a successor. If no
            such successor shall have been so appointed by the Required Lenders and shall have
            accepted such appointment within 30 days after the retiring Administrative Agent
            gives notice of its resignation, then the retiring Administrative Agent may on behalf
            of the Lenders, appoint a successor Administrative Agent,
            provided that if the Administrative Agent
            shall notify the Borrowers and the Lenders that no such successor is willing to accept
            such appointment, then such resignation shall nonetheless become effective in
            accordance with such notice and (i) the retiring Administrative Agent shall be
            discharged from its duties and obligations hereunder and under the other Credit
            Documents (except that in the case of any collateral security held by the
            Administrative Agent on behalf of the Lenders or any Letter of Credit Issuer under any
            of the Credit Documents, the retiring Administrative Agent shall continue to hold such
            collateral security until such time as a successor Administrative Agent is appointed)
            and (ii) all payments, communications and determinations provided to be made by,
            to or through the Administrative Agent shall instead be made by or to each Lender
            directly, until such time as the Required Lenders appoint a successor Administrative
            Agent as provided for above in this paragraph. 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
            Credit Documents (if not already discharged therefrom as provided above in this
            paragraph). The fees payable by the Borrowers to a

             

             

            
                	
                            
                            

                        	
                            
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            successor Administrative Agent shall be the same as those payable to its
            predecessor unless otherwise agreed between the Borrowers and such successor. After the
            retiring Administrative Agent’s resignation hereunder and under the other Credit
            Documents, the provisions of this Article and Section 12.1 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.

            
            Section 11.10.    Other
            Agents. Any Lender identified herein as a Co-Agent,
            Syndication Agent, Documentation Agent, Co-Documentation Agent, Managing Agent,
            Manager, Lead Arranger, Arranger or any other corresponding title, other than
            “Administrative Agent,” shall have no right, power, obligation, liability,
            responsibility or duty under this Agreement or any other Credit Document except those
            applicable to all Lenders as such. Each Lender acknowledges that it has not relied, and
            will not rely, on any Lender so identified in deciding to enter into this Agreement or
            in taking or not taking any action hereunder.

            
            ARTICLE XII.

             

            
            MISCELLANEOUS

             

            
                	
                            
                             

                        	
                            
                            Section 12.1.

                        	
                            
                            Payment of
                            Expenses.

                        

            

            
            (a)        Irrespective of
            whether the transactions contemplated hereby are consummated, the Borrowers agree to
            pay (or reimburse the Administrative Agent for) all reasonable out-of-pocket costs and
            expenses of the Administrative Agent in connection with the negotiation, preparation,
            syndication, administration and execution and delivery of the Credit Documents and the
            documents and instruments referred to therein and the syndication of the Commitments,
            including, without limitation, the reasonable fees and disbursements of counsel to the
            Administrative Agent.

            
            (b)       The Borrowers agree to pay
            (or reimburse the Administrative Agent, the Lenders and their Affiliates for) all
            reasonable out-of-pocket costs and expenses of the Administrative Agent, the Lenders
            and their Affiliates in connection with any amendment, waiver, consent or other
            modification of or relating to any of the Credit Documents, including, without
            limitation, the reasonable fees and disbursements of counsel to the Administrative
            Agent.

            
            (c)        The Borrowers agree
            to pay (or reimburse the Administrative Agent, the Lenders and their Affiliates for)
            all reasonable out-of-pocket costs and expenses of the Administrative Agent, the
            Lenders and their Affiliates in connection with the enforcement of any of the Credit
            Documents or the other documents and instruments referred to therein, including,
            without limitation, the reasonable fees and disbursements of each counsel to the
            Administrative Agent and any Lender (including allocated costs of internal counsel so
            long as such costs do not represent services that are duplicative of services provided
            by any external counsel retained by the Administrative Agent or any such
            Lender).

            
            (d)       Without limitation of the
            preceding Section 12.1(c), in the event of the bankruptcy, insolvency,
            rehabilitation or other similar proceeding in respect of any Borrower or any of its
            Subsidiaries, the Borrowers agree to pay all costs of collection and defense, including
            reasonable attorneys’ fees in connection therewith and in connection with any
            appellate proceeding or post-judgment action involved therein, which shall be due and
            payable together with all required service or use taxes.

            
            (e)        The Borrowers agree
            to pay and hold the Administrative Agent and each of the Lenders harmless from and
            against any and all present and future stamp and other similar taxes with respect to
            the foregoing matters and save the Administrative Agent and each of the Lenders
            harmless from and against

             

             

            
                	
                            
                            

                        	
                            
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            any
            and all liabilities with respect to or resulting from any delay or omission (other than
            to the extent attributable to any such indemnified Person) to pay such
            taxes.

            
            (f)        The Borrowers agree
            to indemnify the Administrative Agent, each Lender, and their respective Related
            Parties and Affiliates (collectively, the
            “Indemnitees”) from and
            hold each of them harmless against any and all losses, liabilities, claims, damages or
            expenses reasonably incurred by any of them as a result of, or arising out of, or in
            any way related to, or by reason of

            
            (i)        any investigation,
            litigation or other proceeding (whether or not any Lender is a party thereto) related
            to the entering into and/or performance of any Credit Document or the use of the
            proceeds of any Loans hereunder or the consummation of any transactions contemplated in
            any Credit Document, other than any such investigation, litigation or proceeding
            arising out of transactions solely between any of the Lenders or the Administrative
            Agent, transactions solely involving the assignment by a Lender of all or a portion of
            its Loans and Commitments, or the granting of participations therein, as provided in
            this Agreement, or arising solely out of any examination of a Lender by any regulatory
            or other governmental authority having jurisdiction over it, or

            
            (ii)       the actual or alleged
            presence of Hazardous Materials in the air, surface water or groundwater or on the
            surface or subsurface of any Real Property owned, leased or at any time operated by any
            Borrower or any of its Subsidiaries, the release, generation, storage, transportation,
            handling or disposal of Hazardous Materials at any location, whether or not owned or
            operated by any Borrower or any of its Subsidiaries, if such Borrower or any such
            Subsidiary could have or is alleged to have any responsibility in respect thereof, the
            non-compliance of any such Real Property with foreign, federal, state and local laws,
            regulations and ordinances (including applicable permits thereunder) applicable
            thereto, or any Environmental Claim asserted against any Borrower or any of its
            Subsidiaries, in respect of any such Real Property,

            
            including, in each case, without limitation, the reasonable documented
            fees and disbursements of counsel incurred in connection with any such investigation,
            litigation or other proceeding (but excluding any such losses, liabilities, claims,
            damages or expenses to the extent incurred by reason of the gross negligence or willful
            misconduct of the Person to be indemnified or of any other Indemnitee who is such
            Person or an Affiliate of such Person). To the extent that the undertaking to
            indemnify, pay or hold harmless any Person set forth in the preceding sentence may be
            unenforceable because it is violative of any law or public policy, the Borrowers shall
            make the maximum contribution to the payment and satisfaction of each of the
            indemnified liabilities that is permissible under applicable law.

            
            Section 12.2.     Right of
            Setoff. In addition to any rights now or hereafter granted
            under applicable law or otherwise, and not by way of limitation of any such rights,
            upon the occurrence and during the continuance of an Event of Default, each Lender is
            hereby authorized at any time or from time to time, without presentment, demand,
            protest or other notice of any kind to the Borrowers or to any other Person, any such
            notice being hereby expressly waived, to set off and to appropriate and apply any and
            all deposits (general or special) and any other Indebtedness at any time held or owing
            by such Lender (including, without limitation, by branches, agencies and Affiliates of
            such Lender wherever located) to or for the credit or the account of any Borrower
            against and on account of the Obligations and liabilities of the Borrowers to such
            Lender under this Agreement or under any of the other Credit Documents, including,
            without limitation, all interests in Obligations of the Borrowers purchased by such
            Lender pursuant to Section 12.4(c), and all other claims of any nature or
            description arising out of or connected with this Agreement or any other Credit
            Document, irrespective of whether or not such Lender shall have made any demand
            hereunder and although such Obligations, liabilities or claims, or any of them, shall
            be contingent or unmatured. Each Lender agrees promptly to notify the Borrowers after
            any such set off and

             

             

            
                	
                            
                            

                        	
                            
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            application, provided, however,
            that the failure to give such notice shall not affect the validity of
            such set off and application.

            
                	
                            
                             

                        	
                            
                            Section 12.3.

                        	
                            
                            Notices.

                        

            

            
            (a)        
            Generally. Except in the case of notices
            and other communications expressly permitted to be given by telephone (and except as
            provided in subparagraph (c) 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 telecopier as follows:

            
            (i)        if to a Borrower or
            any other Credit Party, to it at c/o CH Energy Group, Inc., 284 South Avenue,
            Poughkeepsie, New York 12601,
            Attention: Christopher Capone (Telecopier
            No. (845) 486-5459; Telephone No. (845) 486-5439);

            
            (ii)       if to the Administrative
            Agent, to KeyBank National Association, 127 Public Square, Cleveland, Ohio
            44114,
            Attention:Yvette
            Dyson-Owens (Telecopier No. (216) 689-5962;Telephone No. (216)
            689-4358); and

            
            (iii)      if to a Lender, to it at its
            address (or telecopier number) set forth on
            Annex I hereto or, in the case of any
            Lender that becomes a party to this Agreement by way of assignment under
            Section 12.4 of this Agreement, to it at the address set forth in the Assignment
            Agreement to which it is a party;

            
            (b)       
            Receipt of Notices. Notices and
            communications 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
            telecopier shall be deemed to have been given when sent and receipt has been confirmed
            by telephone. Notices delivered through electronic communications to the extent
            provided in subparagraph (c) below, shall be effective as provided in such
            subparagraph (c).

            
            (c)        
            Electronic Communications. Notices and
            other communications to the Administrative Agent, a Letter of Credit Issuer or any
            Lender pursuant to Section 8.1(a), (b), (c), (f), (g) or (h) may be delivered or
            furnished by electronic communication (including e-mail and Internet or intranet
            websites) pursuant to procedures approved by the Administrative Agent. The
            Administrative Agent or the Borrowers may, in its discretion, agree in a separate
            writing to accept notices and other communications to it hereunder by electronic
            communications pursuant to procedures approved by it, provided that approval of such
            procedures may be limited to particular notices or communications. Unless the
            Administrative Agent otherwise prescribes, (i) notices and other communications
            sent to an e-mail address shall be deemed received upon the sender’s receipt of
            an acknowledgement from the intended recipient (such as by the “return receipt
            requested” function, as available, return e-mail or other written
            acknowledgement), provided that if
            such notice or other communication is not sent during the normal business hours of the
            recipient, such notice or communication shall be deemed to have been sent at the
            opening of business on the next business day for the recipient, and (ii) notices
            or communications posted to an Internet or intranet website shall be deemed received
            upon the deemed receipt by the intended recipient at its e-mail address as described in
            the foregoing clause (i) of notification that such notice or communication is
            available and identifying the website address therefor.

            
            (d)       
            Change of Address. Any party hereto may
            change its address or telecopier number for notices and other communications hereunder
            by notice to each of the other parties hereto in accordance with Section
            12.3(a).

            
                	
                            
                             

                        	
                            
                            Section 12.4.

                        	
                            
                            Benefit of
                            Agreement.

                        

            

             

             

            
                	
                            
                            

                        	
                            
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            (a)        
            Successors and Assigns Generally. This
            Agreement shall be binding upon and inure to the benefit of and be enforceable by the
            parties hereto and their respective successors and assigns,
            provided that no Borrower may assign or
            transfer any of its rights or obligations hereunder without the prior written consent
            of all the Lenders (other than any Defaulting Lender), and,
            provided, further, that any assignment by a
            Lender of its rights and obligations hereunder shall be effected in accordance with
            Section 12.4(c).

            
            (b)       
            Participations. Notwithstanding the
            foregoing, each Lender may at any time grant participations in any of its rights
            hereunder or under any of the Notes to any Person (other than any Credit Party or any
            of their Affiliates or a natural Person), provided
            that in the case of any such participation,

            
            (i)        the participant shall
            not have any rights under this Agreement or any of the other Credit Documents,
            including rights of consent, approval or waiver (the participant’s rights against
            such Lender in respect of such participation to be those set forth in the agreement
            executed by such Lender in favor of the participant relating thereto),

            
            (ii)       the Swing Line Lender may
            only assign its Swing Line Commitment and its Swing Line Loans as an entirety and only
            if the assignee thereof is or becomes a Lender with a Revolving Commitment,

            
            (iii)      such Lender’s obligations
            under this Agreement (including, without limitation, its Commitment hereunder) shall
            remain unchanged,

            
            (iv)      such Lender shall remain solely
            responsible to the other parties hereto for the performance of such
            obligations,

            
            (v)       such Lender shall remain
            the holder of any Note for all purposes of this Agreement, and

            
            (vi)      the Borrowers, the
            Administrative Agent, and the other Lenders shall continue to deal solely and directly
            with the selling Lender in connection with such Lender’s rights and obligations
            under this Agreement, and all amounts payable by the Borrowers hereunder shall be
            determined as if such Lender had not sold such participation, except that the
            participant shall be entitled to the benefits of Sections 2.6, 2.7 and 5.5 of this
            Agreement to the extent that such Lender would be entitled to such benefits if the
            participation had not been entered into or sold
            (provided that the participant shall
            only be entitled to the benefits of Section 5.5 to the extent that it complies
            with the requirements of that section as though it were a Lender),

            
            and, provided
            further, that no Lender shall transfer, grant or sell any
            participation under which the participant shall have rights to approve any amendment to
            or waiver of this Agreement or any other Credit Document except to the extent such
            amendment or waiver would (w) extend the final scheduled maturity or change the
            scheduled repayments of the Loans in which such participant is participating, or reduce
            the rate or extend the time of payment of interest or Fees thereon (except in
            connection with a waiver of the applicability of any post-default increase in interest
            rates), or reduce the principal amount thereof, or increase such participant’s
            participating interest in any Commitment over the amount thereof then in effect (it
            being understood that a waiver of any Default or Event of Default shall not constitute
            a change in the terms of any such Commitment), (x) release any guarantor from its
            guaranty of any of the Obligations, except strictly in accordance with the terms of the
            Credit Documents, or (y) consent to the assignment or transfer by any Borrower of any
            of its rights and obligations under this Agreement.

             

             

            
                	
                            
                            

                        	
                            
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            (c)        
            Assignments by Lenders. Any Lender may
            assign all, or if less than all, a fixed portion, of its Loans and/or Commitment and
            its rights and obligations hereunder to one or more Eligible Assignees, each of which
            shall become a party to this Agreement as a Lender by execution of an Assignment
            Agreement, provided that

            
            (i)        except in the case of
            (x) an assignment of the entire remaining amount of the assigning Lender’s Loans
            and/or Commitment or (y) an assignment to another Lender, an Affiliate of such Lender
            or an Approved Fund with respect to such Lender, the aggregate amount of each such
            assignment of such Commitment (which for this purpose includes the Loans outstanding
            thereunder), shall not be less than $5,000,000 (or, if greater, in integral multiples
            of $1,000,000 in excess thereof),

            
            (ii)       the Swing Line Lender may
            only assign its Swing Line Commitment and its Swing Line Loans as an entirety and only
            if the assignee thereof is or becomes a Lender with a Revolving Commitment,

            
            (iii)      in the case of any assignment
            to an Eligible Assignee at the time of any such assignment the Lender Register shall be
            deemed modified to reflect the Commitments of such new Lender and of the existing
            Lenders,

            
            (iv)      upon surrender of the old Notes,
            if any, upon request of the new Lender, new Notes will be issued, at the
            Borrower’s expense, to such new Lender and to the assigning Lender, such new
            Notes to be in conformity with the requirements of Section 2.4 (with appropriate
            modifications) to the extent needed to reflect the revised Commitments,

            
            (v)       unless waived by the
            Administrative Agent, the Administrative Agent shall receive at the time of each such
            assignment, from the assigning or assignee Lender, the payment of a non-refundable
            assignment fee of $3,500,

            
            and, provided further, that such transfer or assignment will not be
            effective until the Assignment Agreement in respect thereof is recorded by the
            Administrative Agent on the Lender Register maintained by it as provided
            herein.

            
            To the extent of any assignment pursuant to this Section 12.4(c) the
            assigning Lender shall be relieved of its obligations hereunder with respect to its
            assigned Commitments.

            
            At the time of each assignment pursuant to this Section 12.4(c) to a
            Person that is not already a Lender hereunder and that is not a United States Person
            (as such term is defined in Section 7701(a)(30) of the Code) for Federal income tax
            purposes, the respective assignee Lender shall provide to the Borrowers and the
            Administrative Agent the appropriate Internal Revenue Service Forms (and, if applicable
            an Exemption Certificate) described in Section 5.5(b). To the extent that an assignment
            of all or any portion of a Lender’s Commitment and related outstanding
            Obligations pursuant to this Section 12.4(c) would, at the time of such assignment,
            result in increased costs under Section 5.5 from those being charged by the respective
            assigning Lender prior to such assignment, then the Borrowers shall not be obligated to
            pay such increased costs (although the Borrowers shall be obligated to pay any other
            increased costs of the type described above resulting from changes after the date of
            the respective assignment).

            
            Nothing in this Section 12.4(c) shall prevent or prohibit (i) any Lender
            that is a bank, trust company or other financial institution from pledging its Notes or
            Loans to a Federal Reserve Bank in support of borrowings made by such Lender from such
            Federal Reserve Bank, or (ii) any Lender that is a trust, limited liability company,
            partnership or other investment company from pledging its Notes or

             

             

            
                	
                            
                            

                        	
                            
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            Loans to a trustee or agent for the benefit of holders of certificates
            or debt securities issued by it. No such pledge, or any assignment pursuant to or in
            lieu of an enforcement of such a pledge, shall relieve the transferor Lender from its
            obligations hereunder.

            
            (d)       
            No SEC Registration or Blue Sky Compliance.
            Notwithstanding any other provisions of this Section 12.4, no transfer or
            assignment of the interests or obligations of any Lender hereunder or any grant of
            participation therein shall be permitted if such transfer, assignment or grant would
            require the Borrowers to file a registration statement with the SEC or to qualify the
            Loans under the “Blue Sky” laws of any State.

            
            (e)        
            Representations of Lenders. Each Lender
            initially party to this Agreement hereby represents, and each Person that became a
            Lender pursuant to an assignment permitted by this Section 12.4 will, upon its
            becoming party to this Agreement, represent that it is a commercial lender, other
            financial institution or other “accredited” investor (as defined in SEC
            Regulation D) that makes or acquires loans in the ordinary course of its business and
            that it will make or acquire Loans for its own account in the ordinary course of such
            business, provided that subject to
            the preceding Sections 12.4(b) and (c), the disposition of any promissory notes or
            other evidences of or interests in Indebtedness held by such Lender shall at all times
            be within its exclusive control.

            
            Section 12.5.     No
            Waiver; Remedies Cumulative. No failure or delay on the part
            of the Administrative Agent or any Lender in exercising any right, power or privilege
            hereunder or under any other Credit Document and no course of dealing between the
            Borrowers and the Administrative Agent or any Lender shall operate as a waiver thereof;
            nor shall any single or partial exercise of any right, power or privilege hereunder or
            under any other Credit Document preclude any other or further exercise thereof or the
            exercise of any other right, power or privilege hereunder or thereunder. No notice to
            or demand on the Borrowers in any case shall entitle the Borrowers to any other or
            further notice or demand in similar or other circumstances or constitute a waiver of
            the rights of the Administrative Agent or the Lenders to any other or further action in
            any circumstances without notice or demand. Without limiting the generality of the
            foregoing, the making of a Loan or issuance of a Letter of Credit shall not be
            construed as a waiver of any Default or Event of Default, regardless of whether the
            Administrative Agent, any Lender or the Letter of Credit Issuer may have had notice or
            knowledge of such Default or Event of Default at the time. The rights and remedies
            herein expressly provided are cumulative and not exclusive of any rights or remedies
            that the Administrative Agent or any Lender would otherwise have.

             

            
                	
                            
                             

                        	
                            
                            Section 12.6.

                        	
                            
                            Payments Pro
                            Rata; Sharing of
                            Setoffs.

                        

            

            
            (a)        The Administrative
            Agent agrees that promptly after its receipt of each payment from or on behalf of the
            Borrowers in respect of any Obligations, it shall distribute such payment to the
            Lenders (other than any Lender that has expressly waived in writing its right to
            receive its pro rata share
            thereof) pro rata based upon their
            respective shares, if any, of the Obligations with respect to which such payment was
            received. As to any such payment received by the Administrative Agent prior to 1:00
            P.M. (local time at the Payment Office) in funds that are immediately available on such
            day, the Administrative Agent will use all reasonable efforts to distribute such
            payment in immediately available funds on the same day to the Lenders as
            aforesaid.

            
            (b)       Each of the Lenders agrees
            that, if it should receive any amount hereunder (whether by voluntary payment, by
            realization upon security, by the exercise of the right of setoff or banker’s
            lien, by counterclaim or cross action, by the enforcement of any right under the Credit
            Documents, or otherwise) that is applicable to the payment of the principal of, or
            interest on, the Loans or Fees, of a sum that with respect to the related sum or sums
            received by other Lenders is in a greater proportion than the total of such Obligation
            then owed and due to such Lender bears to the total of such Obligation then owed
            and

             

             

            
                	
                            
                            

                        	
                            
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            due
            to all of the Lenders immediately prior to such receipt, then such Lender receiving
            such excess payment shall purchase for cash without recourse or warranty from the other
            Lenders an interest in the Obligations to such Lenders in such amount as shall result
            in a proportional participation by all of the Lenders in such amount,
            provided that (i) if all or any portion of
            such excess amount is thereafter recovered from such Lender, such purchase shall be
            rescinded and the purchase price restored to the extent of such recovery, but without
            interest, and (ii) the provisions of this Section 12.6(b) shall not be construed
            to apply to any payment made by the Borrowers pursuant to and in accordance with the
            express terms of this Agreement, or any payment obtained by a Lender as consideration
            for the assignment of or sale of a participation in any of its Loans to any assignee or
            participant pursuant to Section 12.4, other than to any Borrower or any Subsidiary
            or Affiliate thereof (as to which the provisions of this Section 12.6(b) shall
            apply). Each 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 the Borrowers rights of
            set-off and counterclaim with respect to such participation as fully as if such Lender
            were a direct creditor of the Borrowers in the amount of such participation.

            
            (c)        Notwithstanding
            anything to the contrary contained herein, the provisions of the preceding
            Sections 12.6(a) and (b) shall be subject to the express provisions of this
            Agreement that require, or permit, differing payments to be made to Lenders that are
            not Defaulting Lenders, as opposed to Defaulting Lenders.

            
            (d)       If any Lender shall fail to
            make any payment required to be made by it to the Administrative Agent pursuant to
            Section 2.3(b), then the Administrative Agent may, in its discretion
            (notwithstanding any contrary provision of this Agreement), apply any amounts
            thereafter received by the Administrative Agent for the account of such Lender to
            satisfy such Lender’s obligations to the Administrative Agent under such Sections
            until all such unsatisfied obligations are fully paid.

            
            Section 12.7.     Governing
            Law; Submission to Jurisdiction; Venue; Waiver of Jury
            Trial.

            
            (a)        THIS AGREEMENT AND
            THE OTHER CREDIT DOCUMENTS AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER AND
            THEREUNDER SHALL BE CONSTRUED IN ACCORDANCE WITH AND BE GOVERNED BY THE LAW OF THE
            STATE OF NEW YORK. TO THE FULLEST EXTENT PERMITTED BY LAW, EACH BORROWER HEREBY
            UNCONDITIONALLY AND IRREVOCABLY WAIVES ANY CLAIM TO ASSERT THAT THE LAW OF ANY
            JURISDICTION OTHER THAN THE STATE OF NEW YORK GOVERNS THIS AGREEMENT OR ANY OF THE
            OTHER CREDIT DOCUMENTS. Any legal action or proceeding with respect to this Agreement
            or any other Credit Document may be brought in the Supreme Court of the State of New
            York sitting in New York County or in the United States District Court of the Southern
            District of New York, and, by execution and delivery of this Agreement, each Borrower
            hereby irrevocably accepts for itself and in respect of its property, generally and
            unconditionally, the jurisdiction of the aforesaid courts. Each Borrower hereby further
            irrevocably consents to the service of process out of any of the aforementioned courts
            in any such action or proceeding by the mailing of copies thereof by registered or
            certified mail, postage prepaid, to such Borrower at its address for notices pursuant
            to Section 12.3, such service to become effective 30 days after such mailing or at
            such earlier time as may be provided under applicable law. Nothing herein shall affect
            the right of the Administrative Agent or any Lender to serve process in any other
            manner permitted by law or to commence legal proceedings or otherwise proceed against
            the Borrowers in any other jurisdiction.

            
            (b)       Each Borrower hereby
            irrevocably waives any objection that it may now or hereafter have to the laying of
            venue of any of the aforesaid actions or proceedings arising out of or in connection
            with this Agreement or any other Credit Document brought in the courts referred to in
            Section 12.7(a)

             

             

            
                	
                            
                            

                        	
                            
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            above and hereby further irrevocably waives and agrees not to plead or
            claim in any such court that any such action or proceeding brought in any such court
            has been brought in an inconvenient forum.

            
            (c)        
            EACH OF THE PARTIES TO THIS AGREEMENT HEREBY IRREVOCABLY WAIVES ALL
            RIGHT TO A TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM ARISING OUT OF OR
            RELATING TO THIS AGREEMENT OR ANY OF THE OTHER CREDIT DOCUMENTS (INCLUDING, WITHOUT
            LIMITATION, ANY AMENDMENTS, WAIVERS OR OTHER MODIFICATIONS RELATING TO ANY OF THE
            FOREGOING), OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY. EACH PARTY HERETO
            HEREBY (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS
            REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF
            LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER, AND (B) ACKNOWLEDGES THAT IT AND THE
            OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER
            THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS PARAGRAPH.

            
            Section 12.8.    
            Counterparts. This Agreement may be
            executed in any number of counterparts and by the different parties hereto on separate
            counterparts, each of which when so executed and delivered shall be an original, but
            all of which shall together constitute one and the same agreement.

            
            Section 12.9.    
            Integration. This Agreement, the other
            Credit Documents and any separate letter agreements with respect to fees payable to the
            Administrative Agent, for its own account and benefit and/or for the account, benefit
            of, and distribution to, the Lenders, constitute the entire contract among the parties
            relating to the subject matter hereof and thereof and supersede any and all previous
            agreements and understandings, oral or written, relating to the subject matter hereof
            or thereof.

            
            Section 12.10.    Headings
            Descriptive. The headings of the several sections and other
            portions of this Agreement are inserted for convenience only and shall not in any way
            affect the meaning or construction of any provision of this Agreement.

            
                	
                            
                             

                        	
                            
                            Section 12.11.

                        	
                            
                            Amendment or
                            Waiver.

                        

            

            
            (a)        Neither this
            Agreement nor any other Credit Document, nor the terms hereof or thereof, may be
            amended, changed, waived or otherwise modified unless such amendment, change, waiver or
            other modification is in writing and signed by the Borrowers and the Administrative
            Agent, and also signed (or consented to in writing by) the Required Lenders,
            provided that

            
            (i)        no change in, or
            waiver or other modification otherwise affecting, the amount or time of any scheduled
            or mandatory reduction in or termination of the Total Commitment provided for in
            Section 4.3 to which a Lender shall be entitled, shall be made without the written
            consent of each Lender;

            
                	
                            
                             

                        	
                            
                            (ii)

                        	
                            
                            no change, waiver or other modification
                            shall:

                        

            

            
            (A) increase (1) the Commitment of any Lender hereunder, without
            the written consent of such Lender, or (2) the Total Revolving Commitment, without the
            consent of all of the Lenders, except any increase pursuant to and in accordance with
            Section 2.1(b);

            
            (B) extend or postpone any Maturity Date provided for herein that
            is applicable to any Loan of any Lender, extend or postpone the expiration date of any
            Letter of Credit

            
             

             

            
                	
                            
                            

                        	
                            
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            as to which such Lender is a Participant pursuant to Section 3.4 beyond
            the latest expiration date for a Letter of Credit provided for herein, or extend or
            postpone any scheduled expiration or termination date provided for herein that is
            applicable to a Commitment of any Lender, without the written consent of such
            Lender;

            
            (C) reduce the principal amount of any Loan made by any Lender, or
            reduce the rate or extend the time of payment of, or excuse the payment of, interest
            thereon (other than as a result of waiving the applicability of any post-default
            increase in interest rates), without the written consent of such Lender; or

            
            (D) reduce the rate or extend the time of payment of, or excuse the
            payment of, any Fees to which any Lender is entitled hereunder, without the written
            consent of such Lender; and

            
            (iii)      no change, waiver or other
            modification shall, without the written consent of each Lender (other than a Defaulting
            Lender) affected thereby,

            
            (A) release any Borrower from any obligations as a guarantor of its
            Subsidiaries’ obligations under any Credit Document, except in accordance with
            the express terms of this Agreement;

            
            (B) amend, modify or waive any provision of this
            Section 12.11, or Section 10.3, 11.7, 12.1, 12.4 or 12.6, or any other
            provision of any of the Credit Documents pursuant to which the consent or approval of
            all Lenders, or a number or specified percentage or other required grouping of Lenders
            or Lenders having Commitments under a particular Facility, is by the terms of such
            provision explicitly required;

            
            (C) reduce the percentage specified in, or otherwise modify, the
            definition of Required Lenders; or

            
            (D) consent to the assignment or transfer by any of the Borrowers
            of any of its rights and obligations under this Agreement, except in accordance with
            the express terms of this Agreement.

            Any
            waiver, consent, amendment or other modification with respect to this Agreement given
            or made in accordance with this Section 12.11 shall be effective only in the
            specific instance and for the specific purpose for which it was given or
            made.

            
            (b)       No provision of Article III
            or XI may be amended without the consent of (x) any Letter of Credit Issuer adversely
            affected thereby or (y) the Administrative Agent, respectively.

            
            Section 12.12.    Survival of
            Indemnities. All indemnities set forth herein including,
            without limitation, in Section 2.6, 2.7, 5.4, 11.7 or 12.1 shall survive the
            execution and delivery of this Agreement and the making and repayment of
            Loans.

            
            Section 12.13.    Domicile of
            Loans. Each Lender may transfer and carry its Loans at, to or
            for the account of any branch office, subsidiary or affiliate of such Lender,
            provided that the Borrowers shall not be
            responsible for costs arising under Section 2.6 resulting from any such transfer
            (other than a transfer pursuant to Section 2.8) to the extent not otherwise
            applicable to such Lender prior to such transfer.

            
                	
                            
                             

                        	
                            
                            Section 12.14.

                        	
                            
                            Confidentiality.

                        

            

             

             

            
                	
                            
                            

                        	
                            
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            (a)        The Administrative
            Agent, each Letter of Credit Issuer and the Lenders each agrees to maintain the
            confidentiality of all Confidential Information (as defined below), except that
            Confidential Information may be disclosed (i) to its and its Affiliates’
            directors, officers, employees and agents, including accountants, legal counsel and
            other advisors (it being understood that the Persons to whom such disclosure is made
            will be informed of the confidential nature of such Confidential Information and
            instructed to keep such Confidential Information confidential), but in each case
            subject to applicable law and internal confidentiality policies and restrictions, (ii)
            to any direct or indirect contractual counterparty in any swap, hedge or similar
            agreement (or to any such contractual counterparty’s professional advisor, so
            long as such contractual counterparty (or such professional advisor) agrees to be bound
            by the provisions of this Section 12.14, (iii) to the extent requested by any
            regulatory authority, (iv) to the extent required by applicable laws or
            regulations or by any subpoena or similar legal process, (v) to any other party to
            this Agreement, (vi) to any other creditor of any Borrower or any other Credit Party
            that is a direct or intended beneficiary of any of the Credit Documents, (vii) in
            connection with the exercise of any remedies hereunder or under any of the other Credit
            Documents, or any suit, action or proceeding relating to this Agreement or any of the
            other Credit Documents or the enforcement of rights hereunder or thereunder,
            (viii) subject to an agreement containing provisions substantially the same as
            those of this Section 12.14, to any assignee of or participant in, or any
            prospective assignee of or participant in, any of its rights or obligations under this
            Agreement, (ix) with the consent of the Borrowers, or (x) to the extent such
            Confidential Information (A) becomes publicly available other than as a result of
            a breach of this Section 12.14, or (B) becomes available to the
            Administrative Agent, any Letter of Credit Issuer or any Lender on a non-confidential
            basis from a source other than the Borrower.

            
            (b)       As used in this Section,
            “Confidential
            Information” shall mean all information received from
            any Borrower relating to any Borrower or its business, other than any such information
            that is available to the Administrative Agent, any Letter of Credit Issuer or any
            Lender on a non-confidential basis prior to disclosure by any Borrower,
            provided that in the case of information
            received from any Borrower after the Closing Date, such information is clearly
            identified at the time of delivery as confidential. Notwithstanding anything herein to
            the contrary, “Confidential
            Information” shall not include, and the Administrative
            Agent and each Lender may disclose to any and all Persons, without limitation of any
            kind, any information with respect to the “tax treatment” and “tax
            structure” (as such terms are defined in Section 1.6011-4 of the Code
            regulations) of the transactions contemplated hereby and all materials of any kind
            (including opinions or other tax analyses) that are provided to the Administrative
            Agent or such Lender relating to such tax treatment and tax structure.

            
            (c)        Any Person required
            to maintain the confidentiality of Confidential Information as provided in this
            Section 12.14 shall be considered to have complied with its obligation to do so if
            such Person has exercised the same degree of care to maintain the confidentiality of
            such Confidential Information as such Person would accord to its own confidential
            information. Each Borrower hereby agrees that the failure of the Administrative Agent,
            any Letter of Credit Issuer or any Lender to comply with the provisions of this
            Section 12.14 shall not relieve any Borrower, or any other Credit Party, of any of
            its obligations under this Agreement or any of the other Credit Documents.

            
            Section 12.15.    Lender
            Register. Each Borrower hereby designates the Administrative
            Agent to serve as its agent, solely for purposes of this Section 12.15, to
            maintain a register (the “Lender
            Register”) on or in which it will record the names and
            addresses of the Lenders, and the Commitments from time to time of each of the Lenders,
            the Loans made to the Borrowers by each of the Lenders and each repayment and
            prepayment in respect of the principal amount of such Loans of each such Lender.
            Failure to make any such recordation, or (absent manifest error) any error in such
            recordation, shall not affect the Borrowers’ obligations in respect of such
            Loans. With respect to any Lender, the transfer of the Commitment of such Lender and
            the rights to the principal of, and interest on, any Loan made pursuant to such
            Commitment shall not be effective until such transfer is recorded on the Lender
            Register maintained

             

             

            
                	
                            
                            

                        	
                            
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            by
            the Administrative Agent with respect to ownership of such Commitment and Loans and
            prior to such recordation all amounts owing to the transferor with respect to such
            Commitment and Loans shall remain owing to the transferor. The registration of
            assignment or transfer of all or part of any Commitments and Loans shall be recorded by
            the Administrative Agent on the Lender Register only upon the acceptance by the
            Administrative Agent of a properly executed and delivered Assignment Agreement pursuant
            to Section 12.4(c). Each Borrower agrees to indemnify the Administrative Agent
            from and against any and all losses, claims, damages and liabilities of whatsoever
            nature that may be imposed on, asserted against or incurred by the Administrative Agent
            in performing its duties under this Section 12.15, except to the extent
            attributable to the gross negligence or willful misconduct of the Administrative Agent.
            The Lender Register shall be available for inspection by the Borrowers or any Lender at
            any reasonable time and from time to time upon reasonable prior notice.

            
            Section 12.16.    Limitations on
            Liability of the Letter of Credit Issuers. The Borrowers
            assume all risks of the acts or omissions of any beneficiary or transferee of any
            Letter of Credit with respect to the use of such Letters of Credit. Neither any Letter
            of Credit Issuer nor any of its officers or directors shall be liable or responsible
            for: (a) the use that may be made of any Letter of Credit or any acts or omissions of
            any beneficiary or transferee in connection therewith; (b) the validity, sufficiency or
            genuineness of documents, or of any endorsement thereon, even if such documents should
            prove to be in any or all respects invalid, insufficient, fraudulent or forged;
            (c) payment by a Letter of Credit Issuer against presentation of documents that do
            not comply with the terms of a Letter of Credit, including failure of any documents to
            bear any reference or adequate reference to such Letter of Credit; or (d) any other
            circumstances whatsoever in making or failing to make payment under any Letter of
            Credit, except that the Borrowers (or another Credit Party that is the account party in
            respect of the Letter of Credit in question) shall have a claim against a Letter of
            Credit Issuer, and a Letter of Credit Issuer shall be liable to the Borrowers (or such
            Credit Party), to the extent of any direct, but not consequential, damages suffered by
            the Borrowers (or such Credit Party) that the Borrowers (or such Credit Party) prove
            were caused by (i) such Letter of Credit Issuer’s willful misconduct or
            gross negligence in determining whether documents presented under a Letter of Credit
            comply with the terms of such Letter of Credit or (ii) such Letter of Credit
            Issuer’s willful failure to make lawful payment under any Letter of Credit after
            the presentation to it of documentation strictly complying with the terms and
            conditions of such Letter of Credit. In furtherance and not in limitation of the
            foregoing, a Letter of Credit Issuer may accept documents that appear on their face to
            be in order, without responsibility for further investigation.

            
            Section 12.17.    General
            Limitation of Liability. No claim may be made by any
            Borrower, any Lender, the Administrative Agent, any Letter of Credit Issuer or any
            other Person against the Administrative Agent, any Letter of Credit Issuer or any other
            Lender or the Affiliates, directors, officers, employees, attorneys or agents of any of
            them for any damages other than actual compensatory damages in respect of any claim for
            breach of contract or any other theory of liability arising out of or related to the
            transactions contemplated by this Agreement or any of the other Credit Documents, or
            any act, omission or event occurring in connection therewith; and each of the
            Borrowers, each Lender, the Administrative Agent and each Letter of Credit Issuer
            hereby, to the fullest extent permitted under applicable law, waives, releases and
            agrees not to sue or counterclaim upon any such claim for any special, consequential or
            punitive damages, whether or not accrued and whether or not known or suspected to exist
            in its favor.

            
            Section 12.18.    No
            Duty. All attorneys, accountants, appraisers, consultants and
            other professional Persons (including the firms or other entities on behalf of which
            any such Person may act) retained by the Administrative Agent or any Lender with
            respect to the transactions contemplated by the Credit Documents shall have the right
            to act exclusively in the interest of the Administrative Agent or such Lender, as the
            case may be, and shall have no duty of disclosure, duty of loyalty, duty of care, or
            other duty or obligation of any type or nature whatsoever to any Borrower, to any of
            its Subsidiaries, or to any other Person, with respect to any matters within the scope
            of such representation or related to their

             

             

            
                	
                            
                            

                        	
                            
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            activities in connection with such representation. Each Borrower agrees,
            on behalf of itself and its Subsidiaries, not to assert any claim or counterclaim
            against any such Persons with regard to such matters, all such claims and
            counterclaims, now existing or hereafter arising, whether known or unknown, foreseen or
            unforeseeable, being hereby waived, released and forever discharged.

            
            Section 12.19.    Lenders and
            Agent Not Fiduciary to Borrowers. The relationship among the
            Borrowers and their respective Subsidiaries, on the one hand, and the Administrative
            Agent, each Letter of Credit Issuer and the Lenders, on the other hand, is solely that
            of debtor and creditor, and the Administrative Agent, each Letter of Credit Issuer and
            the Lenders have no fiduciary or other special relationship with the Borrowers and
            their respective Subsidiaries, and no term or provision of any Credit Document, no
            course of dealing, no written or oral communication, or other action, shall be
            construed so as to deem such relationship to be other than that of debtor and
            creditor.

            
            Section 12.20.    Survival of
            Representations and Warranties. All representations and
            warranties herein shall survive the making of Loans, the execution and delivery of this
            Agreement, the Notes and the other documents the forms of which are attached as
            Exhibits hereto, the issue and delivery of the Notes, any disposition thereof by any
            holder thereof, and any investigation made by the Administrative Agent or any Lender or
            any other holder of any of the Notes or on its behalf. All statements contained in any
            certificate or other document delivered to the Administrative Agent or any Lender or
            any holder of any Notes by or on behalf of any Borrowers or of its Subsidiaries
            pursuant hereto or otherwise specifically for use in connection with the transactions
            contemplated hereby shall constitute representations and warranties by the Borrowers
            hereunder, made as of the respective dates specified therein or, if no date is
            specified, as of the respective dates furnished to the Administrative Agent or any
            Lender.

            
            Section 12.21.   
            Severability. Any provision of this
            Agreement held to be invalid, illegal or unenforceable in any jurisdiction shall, as to
            such jurisdiction, be ineffective to the extent of such invalidity, illegality or
            unenforceability without affecting the validity, legality and enforceability of the
            remaining provisions hereof; and the invalidity of a particular provision in a
            particular jurisdiction shall not invalidate such provision in any other
            jurisdiction.

            
            Section 12.22.    Independence
            of Covenants. All covenants hereunder shall be given
            independent effect so that if a particular action, event, condition or circumstance is
            not permitted by any of such covenants, the fact that it would be permitted by an
            exception to, or would otherwise be within the limitations or restrictions of, another
            covenant, shall not avoid the occurrence of a Default or an Event of Default if such
            action is taken or event, condition or circumstance exists.

            
            Section 12.23.    Interest Rate
            Limitation. Notwithstanding anything herein to the contrary,
            if at any time the interest rate applicable to any Loan, together with all fees,
            charges and other amounts that are treated as interest on such Loan under applicable
            law (collectively the
            “Charges”), shall exceed
            the maximum lawful rate (the “Maximum
            Rate”) that may be contracted for, charged, taken,
            received or reserved by the Lender holding such Loan in accordance with applicable law,
            the rate of interest payable in respect of such Loan hereunder, together with all
            Charges payable in respect thereof, shall be limited to the Maximum Rate and, to the
            extent lawful, the interest and Charges that would have been payable in respect of such
            Loan but were not payable as a result of the operation of this Section shall be
            cumulated and the interest and Charges payable to such Lender in respect of other Loans
            or periods shall be increased (but not above the Maximum Rate therefor) until such
            cumulated amount, together with interest thereon at the Base Rate to the date of
            repayment, shall have been received by such Lender.

            
            Section 12.24.    Amendment
            Effective. The parties hereto agree that (i) this Agreement
            amends and restates in its entirety the Original Credit Agreement and (ii) references
            to the “Credit Agreement” in the other Credit Documents shall be considered
            references to this Agreement. Notwithstanding the

             

             

            
                	
                            
                            

                        	
                            
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            foregoing or any other provision hereof, this Agreement does not
            constitute a novation of the Original Credit Agreement or serve to terminate Section
            11.12 of the Original Credit Agreement or any of Borrowers’ obligations
            thereunder.

            
            [Remainder of page intentionally left blank; signature pages
            follow.]

             

             

            
                	
                            
                            

                        	
                            
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            IN WITNESS WHEREOF, each of the parties hereto has caused a counterpart
            of this Agreement to be duly executed and delivered as of the date first above
            written.

            
                	
                            
                             

                        	
                            
                            CH ENERGY GROUP, INC.

                            
                            By: /s/ Christopher M.
                            Capone

                            
                            Name: Christopher M. Capone

                            
                            Title: Executive Vice President and Chief Financial
                            Officer

                            
                             

                        
	
                            
                             

                        	
                            
                            CENTRAL HUDSON ENTERPRISES CORPORATION

                            
                            By: /s/ Christopher M.
                            Capone

                            
                            Name: Christopher M. Capone

                            
                            Title: Chief Financial Officer

                            
                             

                            
                             

                        
	
                            
                             

                        	
                            
                            KEYBANK NATIONAL ASSOCIATION,

                            
                            as a Lender, as a Letter of Credit Issuer, as the
                            Swing Line Lender and as the Administrative Agent

                            
                            

                            
                            By: /s/ Sherrie I.
                            Manson  

                            
                            Name: Sherrie I. Manson

                            
                            Title: Senior Vice President

                            
                             

                        
	
                            
                             

                        	
                            
                            JPMORGAN CHASE BANK, N.A.,

                            as a Lender and as Syndication Agent

                            
                            By: /s/ Paul M.
                            Bilodeau

                            
                            Name: Paul M. Bilodeau

                            
                            Title: Underwriter

                            
                             

                        
	
                            
                             

                        	
                            
                            BANK OF AMERICA, N.A.,

                            as a Lender and as Co-Documentation
                            Agent

                            
                            By: /s/ Alyson
                            Brody

                            
                            Name: Alyson Brody

                            
                            Title: Vice President

                        
	
                            
                             

                        	
                            
                            HSBC BANK USA,

                            as a Lender and as Co-Documentation
                            Agent

                            
                            By: /s/ Marianne
                            McGoldrick

                            
                            Name: Marianne McGoldrick

                            
                            Title: First Vice President

                        

            

            
            

             

            
            Signature Page

            to

            
            CH Energy Group, Inc.
            Amended and Restated Credit Agreement

            
                 
            

             

            
            

            

             

            
            ANNEX I

             

            
            INFORMATION AS TO LENDERS

            
                	
                            
                            Name of Lender

                        	
                            
                            Commitments

                        	
                            
                            Notice Address

                        
	
                            
                            KeyBank National Association

                        	
                            
                            Revolving
                            Commitment:

                            
                            $60,000,000

                            
                            Swing Line
                            Commitment:

                            
                            $15,000,000

                            
                             

                            
                             

                        	
                            
                            KeyBank National Association

                            
                            127 Public Square

                            
                            Cleveland, Ohio 44114

                            Facsimile: (216) 689-5962

                            Attention: Yvette Dyson-Owens

                            
                             

                        
	
                            
                            JPMorgan Chase Bank, N.A.

                        	
                            
                            Revolving
                            Commitment:

                            
                            $30,000,000

                            
                             

                        	
                            
                            JPMorgan Chase Bank, N.A.

                            
                            12 Corporate Woods Blvd.

                            
                            Albany, New York 12211

                            Facsimile: (518) 433-0295

                            Attention: Karen B. Shulman

                        
	
                            
                            Bank of America, N.A.

                        	
                            
                            Revolving
                            Commitment:

                            
                            $30,000,000

                            
                             

                            
                             

                        	
                            
                            Bank of America, N.A.

                            
                            Peter D. Kiernan Plaza

                            
                            Mail Code: NY6-543-03-02

                            
                            Albany, New York 12207

                            Facsimile: (518) 447-3768

                            Attention: Debbie Bayer

                        
	
                            
                            HSBC Bank USA

                        	
                            
                            Revolving
                            Commitment:

                            
                            $30,000,000

                            
                             

                            
                             

                        	
                            
                            HSBC Bank USA

                            
                            801 Auto Park Place

                            
                            Newburgh, New York 12550

                            Facsimile: (845) 569-8107

                            Attention: Wanda Flynn

                        

            

             

            

             

            
            

            

             

            
            EXHIBIT A-1

             

            
            REVOLVING NOTE

            
                	
                            
                            $________________

                        	
                            
                            Cleveland, Ohio

                            _________, 2008

                        

            

            

            
            FOR VALUE RECEIVED, the undersigned CH ENERGY GROUP, INC., a New York
            corporation, and CENTRAL HUDSON ENTERPRISES CORPORATION, a New York corporation
            (herein, together with their respective successors and assigns, collectively, the
            “Borrowers” and,
            individually, the
            “Borrower”), jointly and
            severally, each hereby promises to pay to the order of _______________________ (the
            “Lender”), in lawful
            money of the United States of America and in immediately available funds, at the
            Payment Office (such term and certain other terms used herein without definition shall
            have the meanings ascribed thereto in the Credit Agreement referred to below) of
            KeyBank National Association (the “Administrative
            Agent”), the principal sum of
            ________________DOLLARS AND 00/100 ($___________) or, if less,
            the then unpaid principal amount of all Revolving Loans made by the Lender to the
            Borrowers pursuant to the Credit Agreement, on the Maturity Date.

            
            The Borrowers promise also to pay interest in like currency and funds at
            the Payment Office on the unpaid principal amount of each Revolving Loan made by the
            Lender from the date of such Revolving Loan until paid at the rates and at the times
            provided in Section 2.5 of the Credit Agreement.

            
            This Note is one of the Revolving Notes referred to in the Amended and
            Restated Credit Agreement, dated as of February 21, 2008, among the Borrowers, the
            lending institutions from time to time party thereto (including the Lender), and the
            Administrative Agent (as the same may from time to time be further amended, restated,
            supplemented or otherwise modified, the “Credit
            Agreement”), and is entitled to the benefits thereof
            and of the other Credit Documents. As provided in the Credit Agreement, this Note is
            subject to mandatory prepayment prior to the Maturity Date, in whole or in
            part.

            
            In case an Event of Default shall occur and be continuing, the principal
            of and accrued interest on this Note may be declared to be due and payable in the
            manner and with the effect provided in the Credit Agreement.

            
            Each Borrower hereby waives presentment, demand, protest or notice of
            any kind in connection with this Note. No failure to exercise, or delay in exercising,
            any rights hereunder on the part of the holder hereof shall operate as a waiver of any
            such rights.

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

             

            

             

            
            

            

             

            
            IN WITNESS WHEREOF, each of the undersigned has duly executed this Note
            as of the date first written above.

            

            	
                        
                         

                    	
                        
                        CH ENERGY GROUP, INC.

                        
                        By:
                         ___________________________

                        
                        Name:
                         _________________________

                        
                        Title:
                         __________________________

                        
                         

                        
                         

                    
	
                        
                         

                    	
                        
                        CENTRAL HUDSON ENTERPRISES

                        CORPORATION

                        
                        By:
                         ___________________________

                        
                        Name:
                         _________________________

                        
                        Title:
                         __________________________

                        
                         

                    

             

             

            
             

             

            

             

            
            

            

             

            
            EXHIBIT A-2

             

            
            SWING LINE NOTE

            
                	
                            
                            $15,000,000

                        	
                            
                            Cleveland, Ohio

                            February 21, 2008

                        

            

            

            
            FOR VALUE RECEIVED, the undersigned CH ENERGY GROUP, INC., a New York
            corporation, and CENTRAL HUDSON ENTERPRISES CORPORATION, a New York corporation
            (herein, together with their respective successors and assigns, collectively, the
            “Borrowers” and,
            individually,
            “Borrower”), jointly and
            severally, each hereby promises to pay to the order of KEYBANK NATIONAL ASSOCIATION
            (the “Lender”), in
            lawful money of the United States of America in immediately available funds, at the
            Payment Office (such term and certain other terms used herein without definition shall
            have the meanings ascribed thereto in the Credit Agreement referred to below) of
            KeyBank National Association (the “Administrative
            Agent”), the principal sum of FIFTEEN MILLION DOLLARS
            AND 00/100 ($15,000,000) or, if less, the then unpaid principal amount of all Swing
            Line Loans made by the Lender to the Borrowers pursuant to the Credit Agreement. The
            Borrowers will pay the principal amount of any Swing Line Loan on the maturity date
            specified therefor in the Notice of Borrowing, Continuation or Conversion relating
            thereto, which maturity date shall in no event be more than 14 days following the date
            such Swing Line Loan was made.

            
            The Borrowers promise also to pay interest on the unpaid principal
            amount of each Swing Line Loan made by the Lender in like money at such office from the
            date of such Swing Line Loan until paid at the rates and at the times provided in
            Section 2.5 of the Credit Agreement.

            
            This Note is one of the Swing Line Notes referred to in the Amended and
            Restated Credit Agreement, dated as of February 21, 2008, among the Borrowers, the
            lending institutions from time to time party thereto (including the Lender), and the
            Administrative Agent (as the same may from time to time be amended, restated,
            supplemented or otherwise modified, the “Credit
            Agreement”), and is entitled to the benefits thereof
            and of the other Credit Documents. As provided in the Credit Agreement, this Note is
            subject to mandatory prepayment prior to the maturity date of any Swing Line Loan, in
            whole or in part.

            
            In case an Event of Default shall occur and be continuing, the principal
            of and accrued interest on this Note may be declared to be due and payable in the
            manner and with the effect provided in the Agreement.

            
            Each Borrower hereby waives presentment, demand, protest or notice of
            any kind in connection with this Note. No failure to exercise, or delay in exercising,
            any rights hereunder on the part of the holder hereof shall operate as a waiver of any
            such rights.

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

             

            

             

            
            

            

             

            
            IN WITNESS WHEREOF, each of the undersigned has duly executed this Note
            as of the date first written above.

            

            	
                        
                         

                    	
                        
                        CH ENERGY GROUP, INC.

                        
                        By:
                         ___________________________

                        
                        Name:
                         _________________________

                        
                        Title:
                         __________________________

                        
                         

                        
                         

                    
	
                        
                         

                    	
                        
                        CENTRAL HUDSON ENTERPRISES

                        CORPORATION

                        
                        By:
                         ___________________________

                        
                        Name:
                         _________________________

                        
                        Title:
                         __________________________

                        
                         

                    

             

             

             

            
             

            

             

            
            

            

             

            
            EXHIBIT B-1

            
            NOTICE OF BORROWING, CONTINUATION OR CONVERSION

            
            ______________, 20___

            KeyBank
            National Association,

            as
            Administrative Agent for the Lenders party

            to the
            Credit Agreement referred to below

            127
            Public Square

            
            Cleveland, Ohio 44114

            
            Attention: ____________________________

            
                	
                            
                             

                        	
                            
                            Re:

                        	
                            
                            Notice of Borrowing, Continuation or
                            Conversion

                        

            

            
             

            
            Ladies and Gentlemen:

            
            [For a Borrowing:

            
            The undersigned, _____________, a ______ corporation (the
            “Company”), refers to
            the Amended and Restated Credit Agreement, dated as of February 21, 2008 (as the same
            may from time to time be further amended, modified or supplemented, the
            “Credit Agreement,” the
            terms defined therein being used herein as therein defined), among the Company
            and [______________________], as
            Borrowers, the lending institutions from time to time party thereto (the
            “Lenders”), and KeyBank
            National Association, as Administrative Agent for such Lenders, and hereby gives you
            notice, irrevocably, pursuant to Section 2.2(b) of the Credit Agreement, that the
            undersigned hereby requests one or more Borrowings under the Credit Agreement, and in
            that connection therewith sets forth in the schedule attached hereto the information
            relating to each such Borrowing (collectively the
            “Proposed Borrowing”) as
            required by Section 2.2(b) of the Credit Agreement.

            
            The undersigned hereby specifies that the Proposed Borrowing will
            consist of Loans as indicated in the schedule attached hereto.

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

            
            (A)       the representations and
            warranties of the Credit Parties contained in the Credit Agreement and the other Credit
            Documents are and will be true and correct in all material respects, before and after
            giving effect to the Proposed Borrowing and to the application of the proceeds thereof,
            as though made on such date, except to the extent that such representations and
            warranties expressly relate to an earlier specified date, in which case such
            representations and warranties were true and correct in all material respects as of the
            date when made; and

            
            (B)       no Default or Event of
            Default has occurred and is continuing, or would result from such Proposed Borrowing or
            from the application of the proceeds thereof.]

            
            [For a Continuation:

            
            The undersigned, _____________, a ______ corporation (the
            “Company”), refers to
            the Amended and Restated Credit Agreement, dated as of February 21, 2008 (as the same
            may from time to time be further amended, modified or supplemented, the
            “Credit Agreement,” the
            terms defined therein

             

            

             

            
            

            

             

            
            being used herein as therein defined), among the Company and
            [______________________], as Borrowers, the
            lending institutions from time to time party thereto (the
            “Lenders”), and KeyBank
            National Association, as Administrative Agent for such Lenders, and hereby gives you
            notice, irrevocably, pursuant to Section 2.2(b) of the Credit Agreement, that the
            undersigned hereby requests one or more Continuations of Loans, consisting of one Type
            of Loan, pursuant to Section 2.2(a) of the Credit Agreement, and in that connection
            therewith sets forth in the schedule attached hereto the information relating to each
            such Continuation.]

            
            [For a Conversion:

            
            The undersigned, _____________, a ______ corporation (the
            “Company”), refers to
            the Amended and Restated Credit Agreement, dated as of February 21, 2008 (as the same
            may from time to time be further amended, modified or supplemented, the
            “Credit Agreement,” the
            terms defined therein being used herein as therein defined), among the Company
            and [______________________], as
            Borrowers, the lending institutions from time to time party thereto (the
            “Lenders”), and KeyBank
            National Association, as Administrative Agent for such Lenders, and hereby gives you
            notice, irrevocably, pursuant to Section 2.2(b) of the Credit Agreement, that the
            undersigned hereby requests one or more Conversions of Loans, consisting of one Type of
            Loan, into Loans of another Type, pursuant to Section 2.2(a) of the Credit Agreement,
            and in that connection therewith sets forth in the schedule attached hereto the
            information relating to each such Conversion.]

            
            Very truly yours,

            
             

            	
                        
                         

                    	
                        Very truly yours,

                        

                        [__________________________]

                        

                        

                        
                        By:
                         ________________________________

                        
                        Name:
                         ______________________________

                        
                        Title:
                         _______________________________

                        
                         

                        
                         

                    

            

             

            
            

            

             

            
            BORROWING SCHEDULE

            
            Proposed Borrowing #1:

            
                	
                            
                            Business Day

                            of

                            Proposed

                            Borrowing

                        	
                            
                            Type of

                            Loans

                        	
                            
                            Aggregate

                            Amount

                            of Loans

                        	
                            
                            Interest Period

                            if Loans are

                            Eurodollar

                            Loans

                        
	
                            
                            ______, 20___

                        	
                            
                            Base Rate Loans

                            
                            Eurodollar Loans

                            
                            Swing Line Loans with rate of interest of _____% and
                            maturity of _____ days

                            
                            [Circle one of

                            
                            above]

                            
                             

                        	
                            
                            $____________

                        	
                            
                            One Month

                            
                            Two Months

                            
                            Three Months

                            
                            Six Months

                            
                            [Circle one of

                            
                            above]

                        

            

             

             

            
            Proposed Borrowing #2:

            
                	
                            
                            Business Day

                            of

                            Proposed

                            Borrowing

                        	
                            
                            Type of

                            Loans

                        	
                            
                            Aggregate

                            Amount

                            of Loans

                        	
                            
                            Interest Period

                            if Loans are

                            Eurodollar

                            Loans

                        
	
                            
                            ______, 20__

                        	
                            
                            Base Rate Loans

                            
                            Eurodollar Loans

                            
                            Swing Line Loans with rate of interest of _____% and
                            maturity of _____ days

                            
                            [Circle one of

                            
                            above]

                            
                             

                        	
                            
                            $____________

                        	
                            
                            One Month

                            
                            Two Months

                            
                            Three Months

                            
                            Six Months

                            
                            [Circle one of

                            
                            above]

                        

            

             

            

             

            
            

            

             

            
            CONTINUATION SCHEDULE

            
            Proposed Continuation #1

            
            [of the Loans described in the first table below

            
            into the Loans described in the second table below]

            
                	
                            
                            Date of Loans

                        	
                            
                            Type of Loans

                        	
                            
                            Aggregate

                            Amount

                            of Loans

                        	
                            
                            Interest Period

                            of Loans

                        
	
                            
                            ____, 20__

                        	
                            
                             

                            
                            Eurodollar Loans

                            
                             

                        	
                            
                            $________

                        	
                            
                            One Month

                            
                            Two Months

                            
                            Three Months

                            
                            Six Months

                            
                            [Circle one of

                            
                            above]

                            
                             

                        

            

             

             

             

            
                	
                            
                            Date of Loans

                        	
                            
                            Type of Loans

                        	
                            
                            Aggregate

                            Amount

                            of Loans

                        	
                            
                            Interest Period

                            of Loans

                        
	
                            
                            ____, 20__

                        	
                            
                             

                            
                            Eurodollar Loans

                            
                             

                        	
                            
                            $________

                        	
                            
                            One Month

                            
                            Two Months

                            
                            Three Months

                            
                            Six Months

                            
                            [Circle one of

                            
                            above]

                            
                             

                        

            

             

             

            

             

            
            

            

             

            
            Proposed Continuation #2

            
            [of the Loans described in the first table below

            
            into the Loans described in the second table below]

            
                	
                            
                            Date of Loans

                        	
                            
                            Type of Loans

                        	
                            
                            Aggregate

                            Amount

                            of Loans

                        	
                            
                            Interest Period

                            of Loans

                        
	
                            
                            ____, 20__

                        	
                            
                             

                            
                            Eurodollar Loans

                            
                             

                        	
                            
                            $________

                        	
                            
                            One Month

                            
                            Two Months

                            
                            Three Months

                            
                            Six Months

                            
                            [Circle one of

                            
                            above]

                            
                             

                        

            

             

             

             

            
                	
                            
                            Date of Loans

                        	
                            
                            Type of Loans

                        	
                            
                            Aggregate

                            Amount

                            of Loans

                        	
                            
                            Interest Period

                            of Loans

                        
	
                            
                            ____, 20__

                        	
                            
                             

                            
                            Eurodollar Loans

                            
                             

                        	
                            
                            $________

                        	
                            
                            One Month

                            
                            Two Months

                            
                            Three Months

                            
                            Six Months

                            
                            [Circle one of

                            
                            above]

                            
                             

                        

            

             

             

            

             

            
            

            

             

            
            CONVERSION SCHEDULE

            
            Proposed Conversion #1

            
            [of the Loans described in the first table below

            
            into the Loans described in the second table below]

            
                	
                            
                            Date of Loans

                        	
                            
                            Type of Loans

                        	
                            
                            Aggregate

                            Amount

                            of Loans

                        	
                            
                            Interest Period

                            if Loans are

                            Eurodollar Loans

                        
	
                            
                            ____, 20__

                        	
                            
                            Base Rate Loans

                            
                            Eurodollar Loans

                            
                            [Circle one of

                            
                            Above]

                        	
                            
                            $________

                        	
                            
                            One Month

                            
                            Two Months

                            
                            Three Months

                            
                            Six Months

                            
                            [Circle one of

                            
                            above]

                            
                             

                        

            

             

             

             

            
                	
                            
                            Date of Loans

                        	
                            
                            Type of Loans

                        	
                            
                            Aggregate

                            Amount

                            of Loans

                        	
                            
                            Interest Period

                            if Loans are

                            Eurodollar Loans

                        
	
                            
                            ____, 20__

                        	
                            
                            Base Rate Loans

                            
                            Eurodollar Loans

                            
                            [Circle one of

                            
                            Above]

                        	
                            
                            $________

                        	
                            
                            One Month

                            
                            Two Months

                            
                            Three Months

                            
                            Six Months

                            
                            [Circle one of

                            
                            above]

                            
                             

                        

            

             

             

            

             

            
            

            

             

            
            Proposed Conversion #2

            
            [of the Loans described in the first table below

            
            into the Loans described in the second table below]

            
                	
                            
                            Date of Loans

                        	
                            
                            Type of Loans

                        	
                            
                            Aggregate

                            Amount

                            of Loans

                        	
                            
                            Interest Period

                            if Loans are

                            Eurodollar Loans

                        
	
                            
                            ____, 20__

                        	
                            
                            Base Rate Loans

                            
                            Eurodollar Loans

                            
                            [Circle one of

                            
                            Above]

                        	
                            
                            $________

                        	
                            
                            One Month

                            
                            Two Months

                            
                            Three Months

                            
                            Six Months

                            
                            [Circle one of

                            
                            above]

                            
                             

                        

            

            
             

            
                	
                            
                            Date of Loans

                        	
                            
                            Type of Loans

                        	
                            
                            Aggregate

                            Amount

                            of Loans

                        	
                            
                            Interest Period

                            if Loans are

                            Eurodollar Loans

                        
	
                            
                            ____, 20__

                        	
                            
                            Base Rate Loans

                            
                            Eurodollar Loans

                            
                            [Circle one of

                            
                            Above]

                        	
                            
                            $________

                        	
                            
                            One Month

                            
                            Two Months

                            
                            Three Months

                            
                            Six Months

                            
                            [Circle one of

                            
                            above]

                            
                             

                        

            

             

             

            

             

            
            

            

             

            
            EXHIBIT B-2

             

            
            LETTER OF CREDIT REQUEST

            No.
            ______________

            
            Dated __________, 20___

            
            KeyBank National Association,

            
            as Administrative Agent for the Lenders party

            
            to the Credit Agreement referred to below

            127
            Public Square

            
            Cleveland, Ohio 44114

            
            Attention: Letter of Credit
            Operations

            
            Ladies and Gentlemen:

            
            The undersigned, [CH ENERGY GROUP, INC., a New
            York corporation (the
            “Company”)]
            [CENTRAL HUDSON ENTERPRISES CORPORATION, a New York corporation (the
            “Company”)]
            , refers to the Amended and Restated Credit Agreement, dated as of February 21, 2008
            (as may be further amended, modified, supplemented or amended and restated from time to
            time, the “Credit
            Agreement,” the capitalized terms defined therein being
            used herein as therein defined), among the Borrowers, the lending institutions from
            time to time party thereto (the
            “Lenders”), and KeyBank
            National Association, as Administrative Agent for such Lenders.

            
            The undersigned hereby requests that
                          
            , as a Letter of Credit Issuer, issue a Letter of Credit on
                      
            , 20___ (the “Date of
            Issuance”) in the aggregate amount of $_____________,
            for the account of ____________________.

            
            The beneficiary of the requested Letter of Credit will be __________,
            and such Letter of Credit will be in support of ___________ and will have a stated
            termination date of _____________.

            
            The undersigned hereby certifies that after giving effect to the
            requested issuance of the Letter of Credit:

            
                	
                            
                             

                        	
                            
                            (i)

                        	
                            
                            $_________ principal amount of Loans will be
                            outstanding; and

                        

            

            
                	
                            
                             

                        	
                            
                            (ii)

                        	
                            
                            the Letter of Credit Outstandings will be
                            $___________.

                        

            

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

            
            (A)       the representations and
            warranties of the Credit Parties contained in the Credit Agreement and the other Credit
            Documents are and will be true and correct in all material respects, before and after
            giving effect to the issuance of the Letter of Credit and to the application of the
            proceeds thereof, as though made on such date, except to the extent that such
            representations and warranties expressly relate to an earlier specified date, in which
            case such representations and warranties were true and correct in all material respects
            as of the date when made; and

             

            

             

            
            

            

             

            
            (B)       no Default or Event of
            Default has occurred and is continuing, or would result after giving effect to the
            issuance of the Letter of Credit requested hereby.

            
            Copies of all documentation with respect to the supported transaction
            are attached hereto.

            
            Very truly yours,

            
             

            
            [CH ENERGY GROUP, INC.]

            
             

            
            [CENTRAL HUDSON ENTERPRISES CORPORATION]

            
             

            
                	
                            
                             

                        	
                            
                            By:_______________________________

                        

            

            
                	
                            
                             

                        	
                            
                            Name:_____________________________

                        

            

            
                	
                            
                             

                        	
                            
                            Title:______________________________

                        

            

             

            

             

            
            

            

             

            
            EXHIBIT C

            
            COMPLIANCE CERTIFICATE

             

            For
            Fiscal Quarter ended ____________________

            THE
            UNDERSIGNED HEREBY CERTIFY THAT:

            
            (1)       [I am a][We are] duly
            elected Chief Financial Officer[s] of CH ENERGY GROUP, INC., a New York corporation,
            and CENTRAL HUDSON ENTERPRISES CORPORATION, a New York corporation [, respectively]
            (collectively, the
            “Borrowers” and,
            individually,
            “Borrower”);

            
            (2)       [I am][We are] familiar
            with the terms of that certain Amended and Restated Credit Agreement, dated as of
            February 21, 2008, among the undersigned, the Lenders, as defined in the Amended and
            Restated Credit Agreement, and KeyBank National Association, as Administrative Agent
            (as the same may from time to time be further amended, restated, supplemented or
            otherwise modified, the “Credit
            Agreement”, the terms defined therein being used herein
            as therein defined), and the terms of the other Credit Documents, and [I][we] have
            made, or have caused to be made under [my][our] supervision, a review in reasonable
            detail of the transactions and condition of the Parent and its Subsidiaries during the
            accounting period covered by the attached financial statements;

            
            (3)       The review described in
            paragraph (2) above did not disclose, and [I][we] have no knowledge of, the existence
            of any condition or event that constitutes or constituted a Default or Event of
            Default, at the end of the accounting period covered by the attached financial
            statements or as of the date of this Certificate;

            
            (4)       Each Borrower hereby
            represents that the representations and warranties made by the Borrowers contained in
            the Credit Agreement and each other Credit Document are true and correct as though made
            on and as of the date hereof, except to the extent that such representations and
            warranties expressly relate to an earlier specified date, in which case such
            representations and warranties were true and correct in all material respects as of the
            date when made; and

            
            (5)       Set forth on
            Attachment I hereto are calculations of the
            covenant set forth in Section 9.5 of the Credit Agreement, which calculations show
            compliance with the terms thereof.

            
            IN WITNESS WHEREOF, [I][we] have signed this certificate the ___ day of
            _________, 20___.

            
            [____________________________]

            
             

            	
                        
                         

                    	
                        
                        By:_____________________________

                    

            	
                        
                         

                    	
                        
                        Name:___________________________

                        Title: ___________________________

                    

             

            

             

            
            

            

             

            
            EXHIBIT D

            
            CLOSING CERTIFICATE

             

            
            Pursuant to Section 6.1(h) of the Amended and Restated Credit
            Agreement, dated as of February 21, 2008 (the “Credit
            Agreement”; all capitalized terms used herein have the
            meaning given to them in the Credit Agreement unless otherwise defined herein), among
            CH ENERGY GROUP, INC., a New York corporation, and CENTRAL HUDSON ENTERPRISES
            CORPORATION, a New York corporation (collectively, the
            “Borrowers” and,
            individually,
            “Borrower”), the lending
            institutions party thereto (collectively, the
            “Lenders”) and KEYBANK
            NATIONAL ASSOCIATION, as administrative agent for the Lenders under the Credit
            Agreement (“Administrative
            Agent”), the undersigned, being the duly elected,
            qualified and acting Chief Financial Officer of [each Borrower] hereby certifies on
            behalf of [each Borrower] as follows:

            
            1.         all conditions
            precedent set forth in Section 6.1 of the Credit Agreement have been
            satisfied;

            
            2.         both before and
            after giving effect to any Borrowings made on the date hereof and the application of
            the proceeds thereof, the Borrowers are in compliance with all covenants contained in
            Articles VIII and IX of the Credit Agreement;

            
            3.         both before and
            after giving effect to any Borrowings made on the date hereof and the application of
            the proceeds thereof, no Default or Event of Default has occurred or is continuing;
            and

            
            4.         both before and
            after giving effect to any Borrowings made on the date hereof and the application of
            the proceeds thereof, all representations and warranties of the Credit Parties
            contained in the Credit Agreement and in the other Credit Documents are true and
            correct in all material respects with the same effect as though such representations
            and warranties had been made on and as of the date hereof, except that as to any such
            representations and warranties that expressly relate to an earlier specified date, such
            representations and warranties are only represented as having been true and correct in
            all material respects as of the date when made.

            
            IN WITNESS WHEREOF, the undersigned has executed this Certificate on
            February 21, 2008.

            
             

            
            __________________________________

            Name:

            
            Title: Chief Financial Officer

            
             

             

             

             

            

             

            
            

            

             

            
            EXHIBIT E

            
            ASSIGNMENT AGREEMENT

             

            
            DATE:_____________

            
            Reference is made to the Amended and Restated Credit Agreement described
            in Item 2 of Annex I annexed hereto (as the same may from time to time be further
            amended, restated, supplemented or otherwise modified, the
            “Credit Agreement”).
            Unless defined in Annex I attached hereto, terms defined in the Credit Agreement are
            used herein as therein defined.

            
            _____________ (the
            “Assignor”) and
            ______________ (the
            “Assignee”) hereby agree
            as follows:

            
            1.         The Assignor
            hereby sells and assigns to the Assignee without recourse and without representation or
            warranty (other than as expressly provided herein), and the Assignee hereby purchases
            and assumes from the Assignor, that interest in and to all of the Assignor’s
            rights and obligations under the Credit Agreement as of the date hereof that represents
            the percentage interest specified in Item 4 of Annex I (the
            “Assigned Share”) of all
            of Assignor’s outstanding rights and obligations under the Credit Agreement
            indicated in Item 4 of Annex I, including, without limitation, all rights and
            obligations with respect to the Assigned Share of the Assignor’s Commitment and
            of the Loans and the Notes held by the Assignor. After giving effect to such sale and
            assignment, the Assignee’s Commitment will be as set forth in Item 4 of Annex
            I.

            
            2.         The Assignor (i)
            represents and warrants that it is duly authorized to enter into and perform the terms
            of this Assignment Agreement, that it is the legal and beneficial owner of the interest
            being assigned by it hereunder and that such interest is free and clear of any liens or
            security interests; (ii) makes no representation or warranty and assumes no
            responsibility with respect to any statements, warranties or representations made in or
            in connection with the Credit Agreement or the other Credit Documents or the execution,
            legality, validity, enforceability, genuineness, sufficiency or value of the Credit
            Agreement or the other Credit Documents or any other instrument or document furnished
            pursuant thereto; and (iii) makes no representation or warranty and assumes no
            responsibility with respect to the financial condition of the Parent or any of its
            Subsidiaries or the performance or observance by the Parent or any of the other Credit
            Parties of any of its obligations under the Credit Agreement or the other Credit
            Documents or any other instrument or document furnished pursuant thereto.

            
            3.         The Assignee (i)
            represents and warrants that it is duly authorized to enter into and perform the terms
            of this Assignment Agreement; (ii) confirms that it has received a copy of the Credit
            Agreement and the other Credit Documents, together with copies of the financial
            statements referred to therein and such other documents and information as it has
            deemed appropriate to make its own credit analysis and decision to enter into this
            Assignment Agreement; (iii) agrees that it will, independently and without reliance
            upon the Administrative Agent, the Assignor or any other Lender and based on such
            documents and information as it shall deem appropriate at the time, continue to make
            its own credit decisions in taking or not taking action under the Credit Agreement;
            (iv) appoints and authorizes each Agent to take such action as agent on its behalf and
            to exercise such powers under the Credit Agreement and the other Credit Documents as
            are delegated to such Agent by the terms thereof, together with such powers as are
            reasonably incidental thereto; [and] (v) agrees that it will perform in accordance with
            their terms all of the obligations that by the terms of the Credit Agreement are
            required to be performed by it as a Lender[; and (vi) to the
            extent legally entitled to do so, attaches the forms described in
            Section  5.5(b)(ii) of the
            Credit Agreement]1.

            
            _________________________

            
            1  the Assignee is organized under the laws of a
            jurisdiction outside the United States.

            
             

            

             

            
            

            

             

            
            4.         Following the
            execution of this Assignment Agreement by the Assignor and the Assignee, an executed
            original hereof (together with all attachments) will be delivered to the Administrative
            Agent. The effective date of this Assignment Agreement shall be the date of execution
            hereof by the Assignor, the Assignee and the consent hereof by the Administrative Agent
            and the receipt by the Administrative Agent of the administrative fee referred to in
            Section 12.4(c) of the Credit Agreement, unless otherwise specified in Item 5 of
            Annex I hereto (the “Settlement
            Date”).

            
            5.         Upon the
            delivery of a fully executed original hereof to the Administrative Agent, as of the
            Settlement Date, (i) the Assignee shall be a party to the Credit Agreement and, to the
            extent provided in this Assignment Agreement, have the rights and obligations of a
            Lender thereunder and under the other Credit Documents and (ii) the Assignor shall, to
            the extent provided in this Assignment Agreement, relinquish its rights and be released
            from its obligations under the Credit Agreement and the other Credit
            Documents.

            
            6.         It is agreed
            that upon the effectiveness hereof, the Assignee shall be entitled to (x) all
            interest on the Assigned Share of the Loans at the rates specified in Item 6 of Annex
            I, and (y) all Commitment Fee (if applicable) on the Assigned Share of the
            Commitment at the rate specified in Item 7 of Annex I, that, in each case, accrue
            on and after the Settlement Date, such interest and, if applicable, Commitment Fee, to
            be paid by the Administrative Agent, upon receipt thereof from any Borrower, directly
            to the Assignee. It is further agreed that all payments of principal made by any
            Borrower on the Assigned Share of the Loans that occur on and after the Settlement Date
            will be paid directly by the Administrative Agent to the Assignee. Upon the Settlement
            Date, the Assignee shall pay to the Assignor an amount specified by the Assignor in
            writing that represents the Assigned Share of the principal amount of the respective
            Loans made by the Assignor pursuant to the Credit Agreement that are outstanding on the
            Settlement Date, net of any closing costs, and that are being assigned hereunder. The
            Assignor and the Assignee shall make all appropriate adjustments in payments under the
            Credit Agreement for periods prior to the Settlement Date directly between themselves
            on the Settlement Date.

            
            7.         THIS ASSIGNMENT
            AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE
            OF NEW YORK.

            * *
            *

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

            
                	
                            
                            [NAME OF ASSIGNOR],

                        	
                            
                            [NAME OF ASSIGNEE],

                        

            

            
                	
                            
                             

                        	
                            
                            as Assignor

                        	
                            
                            as Assignee

                        

            

             

            	
                        
                        By:______________________________

                    	
                        
                        By:___________________________

                    

            	
                        
                        Name:____________________________

                    	
                        
                        Name:_________________________

                    

            	
                        
                        Title:_____________________________

                    	
                        
                        Title:__________________________

                    

             

             

            
            KEYBANK NATIONAL ASSOCIATION,

            
            as Administrative Agent

            	
                        
                        By:_______________________________

                    

            	
                        
                        Name:_____________________________

                    

            	
                        
                        Title:______________________________

                    

             

            

             

            
            

            

             

            
            ANNEX I

            
            TO

            
            ASSIGNMENT AND ASSUMPTION AGREEMENT

            
                	
                            
                            1.

                        	
                            
                            The Borrowers:

                        

            

            
            CH ENERGY GROUP, INC.

            
                	
                            
                             

                        	
                            
                            CENTRAL HUDSON ENTERPRISES CORPORATION

                        

            

            
                	
                            
                            2.

                        	
                            
                            Name and Date of Credit Agreement:

                        

            

            
            Amended and Restated Credit Agreement, dated as of February 21, 2008,
            among CH Energy Group, Inc. and Central Hudson Enterprises Corporation, the Lenders
            from time to time party thereto, and KeyBank National Association, as Administrative
            Agent.

            
                	
                            
                            3.

                        	
                            
                            Date of Assignment Agreement:

                        

            

            
            _________ ___, _____

            
                	
                            
                            4.

                        	
                            
                            Amounts (as of date of item #3 above):

                        

            

            
                	
                            
                             

                        	
                            
                            Revolving
                            Commitment

                        	
                            
                            Revolving
                            Loans

                        	
                            
                            Swing Line

                            Commitment

                        	
                            
                            Swing Line

                            Loans

                        
	
                            
                            Aggregate Amount for all Lenders

                        	
                            
                            $_____

                        	
                            
                            $_____

                        	
                            
                            $_____

                        	
                            
                            $_____

                        
	
                            
                            Assigned Share

                        	
                            
                            _____%

                        	
                            
                            _____%

                        	
                            
                            _____%

                        	
                            
                            _____%

                        
	
                            
                            Amount of Assigned Share

                        	
                            
                            $_____

                        	
                            
                            $_____

                        	
                            
                            $_____

                        	
                            
                            $_____

                        
	
                            
                            Amount Retained by Assignor

                        	
                            
                            $_____

                        	
                            
                            $_____

                        	
                            
                            $_____

                        	
                            
                            $_____

                        

            

             

            
                	
                            
                            5.

                        	
                            
                            Settlement Date:

                        

            

            
            _________ ___, ___

            
                	
                            
                            6.

                        	
                            
                            Rate of Interest

                        

            

            
                	
                            
                             

                        	
                            
                            to the Assignee:

                        	
                            
                            As set forth in Section 2.5 of the Credit Agreement
                            (unless otherwise agreed to by the Assignor and the
                            Assignee).2

                        

            

            
                	
                            
                            7.

                        	
                            
                            Commitment

                        

            

            
                	
                            
                             

                        	
                            
                            Fee:

                        	
                            
                            As set forth in Section 4.1(a) of the Credit
                            Agreement (unless otherwise agreed to by the Assignor and the
                            Assignee).3

                        

            

            
            _________________________

            
            2  Borrowers and the Administrative Agent shall direct
            the entire amount of the interest to the Assignee at the rate set forth in
            Section 2.7 of the Credit Agreement, with the Assignor and Assignee effecting any
            agreed upon sharing of interest through payments by the Assignee to the
            Assignor.

            
            3  Borrowers and the Administrative Agent shall direct
            the entire amount of the Commitment Fee to the Assignee at the rate set forth in
            Section 4.1(a) of the Credit Agreement, with the Assignor and the Assignee
            effecting any agreed upon sharing of Commitment Fee through payment by the Assignee to
            the Assignor.

            
             

            

             

            
            

            

             

            
                	
                            
                            8.

                        	
                            
                            Notices:

                        

            

            
                	
                            
                            ASSIGNOR:

                            
                            ______________________

                            
                            ______________________

                            
                            ______________________

                            
                            Attention:

                            
                            Telephone No.:

                            
                            Facsimile No.:

                        	
                            
                            ASSIGNEE:

                            
                            ______________________

                            
                            ______________________

                            
                            ______________________

                            
                            Attention:

                            
                            Telephone No.:

                            
                            Facsimile No.:

                        

            

            
                	
                            
                            9.

                        	
                            
                            Payment Instructions:

                        

            

            
                	
                            
                            ASSIGNOR:

                            
                            ______________________

                            
                            ______________________

                            
                            ______________________

                            
                            ABA No.

                            
                            Account No.:

                            
                            Reference:

                            
                            Attention:

                            
                            Telephone No.:

                            
                            Facsimile No.:

                        	
                            
                            ASSIGNEE:

                            
                            ______________________

                            
                            ______________________

                            
                            ______________________

                            
                            ABA No.

                            
                            Account No.:

                            
                            Reference:

                            
                            Attention:

                            
                            Telephone No.:

                            
                            Facsimile No.:Exhibit 10

Modification to Letter Agreement

On February 15, 2008, Technitrol's Compensation Committee and James M. Papada, III agreed to an informal modification of the terms of Mr. Papada's Letter Agreement dated April 25, 2007.  First, it was agreed that Mr. Papada's ability to resign for good reason (upon a material change in his duties) and be paid termination benefits will not be triggered if, upon the arrival of a successor Chief Executive Officer, Technitrol's Board of Directors determines that Mr. Papada's duties should be materially changed in order to accommodate the transitioning in of the new Chief Executive Officer.  In such a case, Mr. Papada will continue to be employed by Technitrol, the Letter Agreement will remain in place and all terms and conditions contained in it will remain the same except that Mr. Papada's duties may be materially changed upon and after the arrival of a new Chief Executive Officer.  Second, in exchange for that concession, Mr. Papada will be paid a minimum payment of $200,000 in each of 2008 and 2009 under Technitrol's Short Term Incentive Plan ("STIP") so that Mr. Papada's STIP payout will be the greater of what is earned or $200,000.

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