Document:

Exhibit 10C Amended & Restated Participation

     

    Exhibit
      10(c)

     

    

      AMENDED
        AND RESTATED

       

      INVESTMENT
        AND PARTICIPATION AGREEMENT

       

      Dated
        as of January 11, 2007

       

      Among

       

      PROTECTIVE
        LIFE INSURANCE COMPANY,

       

      As
        the Company,

       

      

       

      WACHOVIA
        DEVELOPMENT CORPORATION

      (as
        assignee of Wachovia Capital Investments, Inc.),

       

      as
        Lessor,

       

      WACHOVIA
        BANK, NATIONAL ASSOCIATION,

       

      as
        Administrative Agent,

       

      

       

      and

       

      

       

      THE
        LEASE PARTICIPANTS SIGNATORIES HERETO

       

      

       

      
        
          
            ATI-2238852v11 

             

          

          
          

        

        
          
          

          
            

          

        

        
          
          

          
          

        

      

      ARTICLE
        I.Defined
        Terms and Accounting Matters

       

      Section
        1.01Terms
        Defined Above

       

      Section
        1.02Certain
        Defined Terms

       

      Section
        1.03Accounting
        Terms and Determinations

       

      ARTICLE
        II.Commitments

       

      Section
        2.01Lessor
        Investments; Purchase of Ownership Interests

       

      Section
        2.02[Intentionally
        Omitted]

       

      Section
        2.03[Intentionally
        Omitted]

       

      Section
        2.04Certain
        Supplemental Rent

       

      Section
        2.05Ownership
        Interests; Administrative Agent as Administrative Agent; Record of
        Payments

       

      Section
        2.06Lessor
        Confirmation Letter

       

      Section
        2.07[Intentionally
        Omitted]

       

      Section
        2.08[Intentionally
        Omitted]

       

      ARTICLE
        III.Recovery
        of Lessor Investments; Payment of Yield and Other Amounts

       

      Section
        3.01Recovery
        of Lessor Investments

       

      Section
        3.02Redemptions

       

      Section
        3.03Yield
        on
        Lessor Investments; Overdue Amounts

       

      Section
        3.04Payments
        by Lessor

       

      Section
        3.05Applications
        of Payments and Proceeds

       

      ARTICLE
        IV.Payments;
        Computations; Etc

       

      Section
        4.01Payments

       

      Section
        4.02Pro
        Rata
        Treatment

       

      Section
        4.03Computations

       

      Section
        4.04Non-receipt
        of Funds by the Lessor

       

      Section
        4.05Sharing
        of Payments

       

      Section
        4.06Taxes

       

      ARTICLE
        V.Yield
        Protection and Illegality

       

      Section
        5.01Basis
        for
        Determining Yield Rate Inadequate or Unfair

       

      Section
        5.02Illegality

       

      Section
        5.03Increased
        Cost and Reduced Return

       

      Section
        5.04Base
        Rate
        Substituted for Adjusted LIBO Rate

       

      Section
        5.05Compensation

       

      Section
        5.06Payments
        and Computations

       

      ARTICLE
        VI.Conditions
        Precedent

       

      Section
        6.01Conditions
        Precedent to Effectiveness of this Agreement

       

      Section
        6.02[Intentionally
        Omitted]

       

      Section
        6.03Closing19

       

      ARTICLE
        VII.Representations
        and Warranties

       

      Section
        7.01Company
        Representations and Warranties

       

      ARTICLE
        VIII.Covenants

       

      Section
        8.01Information

       

      Section
        8.02Maintenance
        and Inspection of Property, Books and Records

       

      Section
        8.03Related
        Contracts

       

      Section
        8.04Consolidations,
        Mergers and Sales of Assets

       

      Section
        8.05Maintenance
        of Existence

       

      Section
        8.06Dissolution

       

      Section
        8.07[Intentionally
        Omitted]

       

      Section
        8.08Compliance
        with Laws; Payment of Taxes

       

      Section
        8.09Insurance

       

      Section
        8.10Maintenance
        of Property

       

      Section
        8.11Environmental
        Notices

       

      Section
        8.12Environmental
        Matters

       

      Section
        8.13Environmental
        Release

       

      Section
        8.14Transactions
        with Affiliates

       

      Section
        8.15Further
        Assurances

       

      Section
        8.16Compliance
        with Certain Documents, Permits, Etc

       

      Section
        8.17Maintenance;
        Etc

       

      Section
        8.18[Intentionally
        Omitted]

       

      Section
        8.19Liens,
        Etc

       

      Section
        8.20Facility
        Plan

       

      Section
        8.21Change
        in
        Fiscal Year

       

      Section
        8.22Intentionally
        Omitted

       

      Section
        8.23Restrictions
        on Ability of Subsidiaries to Pay Dividends

       

      Section
        8.24Adjusted
        Consolidated Net Worth

       

      Section
        8.25Ratio
        of
        Adjusted Consolidated Indebtedness to Consolidated Capitalization

       

      Section
        8.26Ratio
        of
        Unconsolidated Cash Inflow Available for Interest Expense to Adjusted
        Consolidated Interest Expense

       

      Section
        8.27Company’s
        Total Adjusted Capital

       

      Section
        8.28Restricted
        Payments

       

      Section
        8.29Anti-Terrorism
        Laws

       

      Section
        8.30Company
        as Agent of Lessor With Respect to the Facility

       

      ARTICLE
        IX.Events
        of
        Default

       

      Section
        9.01Events
        of
        Default

       

      Section
        9.02Remedies

       

      ARTICLE
        X.The
        LESSOR as Servicing Agent for the Lease Participants; THE Administrative
        Agent

       

      Section
        10.01Lessor
        as
        Servicing Agent

       

      Section
        10.02Appointment
        of the Administrative Agent

       

      ARTICLE
        XI.Miscellaneous

       

      Section
        11.01Amendments,
        Etc

       

      Section
        11.02Notices

       

      Section
        11.03Payment
        of Expenses, Indemnities, Etc

       

      Section
        11.04No
        Waiver; Remedies

       

      Section
        11.05Right
        of
        Set-Off

       

      Section
        11.06Assignments
        and Participations

       

      Section
        11.07Invalidity

       

      Section
        11.08Entire
        Agreement

       

      Section
        11.09References

       

      Section
        11.10Successors;
        Survivals

       

      Section
        11.11Captions

       

      Section
        11.12Counterparts

       

      Section
        11.13Confidentiality

       

      Section
        11.14Governing
        Law; Submission to Jurisdiction

       

      Section
        11.15Yield

       

      Section
        11.16Characterization
        

       

      Section
        11.17Compliance

       

      Section
        11.18Facility

       

      Section
        11.19Funding
        Parties

       

      Section
        11.20Waiver
        of
        Jury Trial

       

      Section
        11.21Certain
        Acknowledgments of the Parties

       

      Section
        11.22Amendment
        and Restatement

       

      EXHIBITS

       

      

       

      Exhibit
        A - Legal
        Description of Site

       

      Exhibit
        B - Ownership
        Certificate

       

      Exhibit
        C - Form
        of
        Assignment and Acceptance 

       

      Exhibit
        D - Form
        of
        legal opinion of counsel to the Company and the Guarantor

       

      Exhibit
        E - Form
        of
        Compliance Certificate

       

      Exhibit
        F - Form
        of
        Amended and Restated Guaranty

       

      Exhibit
        G - Form
        of
        Lessor Confirmation Letter

       

      SCHEDULES

       

      Schedule
        1.02  - Defined
        Terms

       

      Schedule
        1.02(b) - Pricing
        Schedule

       

      Schedule
        1.02(c) - Limited
        Recourse Events of Default

       

      Schedule
        7.01(e) - Litigation

       

      Schedule
        7.01(h) - Subsidiaries

       

      Schedule
        7.01(n) - Environmental
        Matters

      

       

      
        
          
            
              	
                      ATI-2238852v11 

                       

                    	 	 

            

            

             

          

          
          

        

        
          
          

          
            

          

        

        
          
          

          
          

        

      

      AMENDED
        AND RESTATED INVESTMENT AND

      PARTICIPATION
        AGREEMENT

      

      AMENDED
        AND RESTATED INVESTMENT AND PARTICIPATION AGREEMENT (as the same may be amended,
        modified or supplemented from time to time, this “Agreement”
or
        the
“Investment
        Agreement”)
        dated
        as of January 11, 2007, by and among PROTECTIVE LIFE INSURANCE COMPANY, a
        Tennessee corporation (the “Company”),
        WACHOVIA DEVELOPMENT CORPORATION, as Lessor (the “Lessor”),
        WACHOVIA BANK, NATIONAL ASSOCIATION, a national banking association, as
        administrative agent for the Lessor and the Lease Participants (in such
        capacity, the “Administrative
        Agent”),
        and
        each of the Lease Participants that is a party hereto or becomes a party
        hereto
        as provided in Section 11.06 (individually, together with its successors
        and
        assigns, a “Lease
        Participant,”
and
        collectively, together with their successors and assigns, the “Lease
        Participants”).

       

      RECITALS

       

      WHEREAS,
        pursuant to the Original Ground Lease (as this and other terms are used in
        these
        Recitals are defined below), WCI acquired a ground lease of certain real
        property located in Jefferson County, Alabama, described in greater detail
        on
        Exhibit A (the “Site”),
        and
        has, pursuant to the Original Lease Documents, constructed and installed
        on the
        Site an annex office building and a related parking deck and related
        enhancements and improvements, including furniture, fixtures and equipment;
        and

       

      WHEREAS,
        the Company, acting as WCI’s agent pursuant to the terms of the Original Agency
        Agreement, completed the construction and installation of all such enhancements
        and improvements on the Site and currently provides certain operations,
        maintenance, and management support in respect of the Facility; and

       

      WHEREAS,
        pursuant to the Original Lease Agreement, WCI leased the Facility to the
        Company; and

       

      WHEREAS,
        to finance the acquisition of the Lessor's ground lease of the Site and the
        construction and installation of the building, related parking deck and such
        related enhancements and improvements on the Site for the use and benefit
        of the
        Company in accordance with the Original Lease Agreement, WCI, at the Company’s
        request, made Lessor Investments in the Facility in an aggregate principal
        amount of $75,000,000, and the Lease Participants purchased Ownership Interests
        from WCI; and

       

      WHEREAS,
        to induce WCI and the Lease Participants to enter into the Original Investment
        and Participation Agreement and other Original Lease Documents, the Guarantor
        executed and delivered the Original Guaranty Agreement in favor of WCI (for
        the
        ratable benefit of the Lease Participants);

       

      WHEREAS,
        the Company has requested to refinance and extend the maturity of the Original
        Lease Agreement by, among other things, entering into this Agreement, the
        Amended and Restated Ground Lease, and the Amended and Restated Lease Agreement,
        and, in anticipation of such refinancing and extension, WCI has assigned
        100% of
        its interest in the Original Lease Documents to Lessor pursuant to the terms
        of
        the Lessor Assignment Agreement;

       

      WHEREAS,
        Guarantor will enter into the Amended and Restated Guaranty Agreement to,
        among
        other things but subject to certain limitations, guarantee the obligations
        of
        the Company to the Lessor (for the ratable benefit of certain of the Lease
        Participants);

       

      NOW,
        THEREFORE, in consideration of the premises and the mutual covenants and
        agreements herein contained, and for other good and valuable consideration,
        the
        receipt and sufficiency of which are hereby acknowledged, the parties hereto
        hereby agree as follows:

       

      ARTICLE
        I.  

       

      

       

      DEFINED
        TERMS AND ACCOUNTING MATTERS

       

      Section
        1.01  Terms
        Defined Above.
        As used
        in this Agreement, the terms defined in the preamble and above shall have
        the
        meanings indicated above.

       

      Section
        1.02  Certain
        Defined Terms.
        As used
        herein, all capitalized terms used but not otherwise defined herein shall
        have
        the meaning specified for such term in Schedule 1.02. 

       

      Section
        1.03  Accounting
        Terms and Determinations.
        Unless
        otherwise specified herein, all terms of an accounting character used herein
        shall be interpreted, all accounting determinations hereunder shall be made,
        and
        all financial statements required to be delivered hereunder shall be prepared,
        in accordance with GAAP (except that financial statements of the Insurance
        Subsidiaries shall be prepared in accordance with SAP), applied on a basis
        consistent (except for changes concurred with by the Guarantor’s independent
        public accountants or otherwise required by a change in GAAP) with the most
        recent audited consolidated financial statements of the Guarantor and the
        Consolidated Subsidiaries delivered to the Funding Parties unless with respect
        to any such change concurred with by the Guarantor’s independent
        public accountants or required by GAAP or SAP, in determining compliance
        with
        any of the provisions of this Agreement or any of the other Operative Documents:
        (a) the Guarantor shall have objected to determining such compliance on such
        basis at the time of delivery of such financial statements, or (b) the Majority
        Funding Parties shall so object in writing within 30 days after the delivery
        of
        such financial statements, in either of which events such calculations shall
        be
        made on a basis consistent with those used in the preparation of the latest
        financial statements as to which such objection shall not have been made
        (which,
        if objection is made in respect of the first financial statements delivered
        under Section 8.01, shall mean the financial statements referred to in Section
        7.01(d)). 

       

      ARTICLE
        II.  

       

      

       

      COMMITMENTS

       

      Section
        2.01  Lessor
        Investments; Purchase of Ownership Interests.

       

      (a)  Lessor
        Investments.
        The
        Company and Lessor acknowledge and agree that all fundings of “Lessor Advances”
and “Lease Participant Advances” (as each of such terms was defined in the
        Original Investment and Participation Agreement) were duly made pursuant
        to the
        Original Investment Agreement and that, before the date hereof, all “Lessor
        Commitments” and “Lease Participant Commitments” (as each of such terms was
        defined in the Original Investment and Participation Agreement) expired or
        were
        terminated in their entirety. All parties hereto as of the Restatement Closing
        Date acknowledge and agree that (i) pursuant to the Initial Master Assignment
        and Acceptance (which is deemed to be effective immediately before the
        effectiveness of this Agreement), Lessor accepted 100% of the Lessor Investments
        from all Lease Participants; (ii) pursuant to the terms of this Agreement
        and
        the Secondary Master Assignment and Acceptance (which is deemed effective
        contemporaneously herewith), all such Lessor Investments outstanding immediately
        before the effectiveness of this Agreement are hereby deemed to be
        recharacterized such that they constitute A Percentage Lessor Investments
        and B
        Percentage Lessor Investments (with a portion of the B Percentage Lessor
        Investments being in excess of the Non-Recourse Amount and the remainder
        being
        attributable to the Non-Recourse Amount); and (iii) pursuant to the Secondary
        Master Assignment and Acceptance, each of the Lease Participants under this
        Agreement have accepted from Lessor such A Percentage Lessor Investments
        and/or
        B Percentage Lessor Investments (and, consequently, related A Percentage
        Ownership Interests and B Percentage Ownership Interests) as are indicated
        in
        the Secondary Master Assignment and Acceptance and, as of the Restatement
        Closing Date, the signature pages hereof.

       

      (b)  On
        the
        Restatement Closing Date, and after giving full effect to the Secondary Master
        Assignment and Acceptance, the Lessor shall furnish to each Lease Participant,
        with a copy to the Company, a certificate in the form of Exhibit
        B
        (an
“Ownership
        Certificate”)
        setting forth, as of the date hereof, the information described in Section
        2.05(a).

       

      Section
        2.02  [Intentionally
        Omitted].

       

      Section
        2.03  [Intentionally
        Omitted].

       

      Section
        2.04  Certain
        Supplemental Rent.
        In
        addition to other Supplemental Rent payable pursuant to the Operative Documents,
        the Company shall pay to the Lessor (for its own account and for the account
        of
        any other Person as specified below) the Supplemental Rent described in this
        Section 2.04 pursuant to the provisions hereof.

       

      (a)  [Intentionally
        Omitted]. 

       

      (b)  The
        Company shall pay or cause to be paid to the Lessor Supplemental Rent in
        the
        amount of 0.05% of the Unrecovered Lessor Investments as of the Restatement
        Closing Date (the “Upfront
        Supplemental Rent”).
        The
        Upfront Supplemental Rent shall be payable in full on the Restatement Closing
        Date. Promptly upon receipt by the Lessor of such payment of the Upfront
        Supplemental Rent, it shall distribute to each Lease Participant its Percentage
        Share thereof.

       

      (c)  On
        the
        Restatement Closing Date, the Company shall pay or cause to be paid to the
        Administrative Agent, for the account of Arranger, Supplemental Rent in the
        amount set forth in the Engagement and Fee Letter (the “Arranger’s
        Supplemental Rent”),
        which
        Arranger’s Supplemental Rent shall be deemed fully earned on the Restatement
        Closing Date and, once paid, shall be non-refundable. The Company shall pay
        to
        Administrative Agent, for its own account, an administrative fee in the amount
        of $25,000.00 per year (the “Administrative
        Supplemental Rent”),
        which
        Administrative Supplemental Rent shall be paid initially on the Restatement
        Closing Date and on each anniversary thereof until the Lease Termination
        Date.
        The Administrative Supplemental Rent shall be deemed fully earned on the
        Restatement Closing Date and on each anniversary thereof and, once paid,
        shall
        be non-refundable.

       

      Section
        2.05  Ownership
        Interests; Administrative Agent as Administrative Agent; Record of
        Payments.

       

      (a)  The
        Ownership Certificates furnished by the Lessor pursuant to Sections 2.01(b),
        3.02 and 11.06 shall evidence, as of the date thereof, the aggregate amount
        of
        (i) all Lessor Investments, (ii) the A Percentage Ownership Interests owned
        by
        the Lessor and each A Percentage Lease Participant, (iii) the A Percentage
        Share
        of the Lessor and each A Percentage Lease Participant, (iv) the percentage
        which
        the A Percentage Lessor Investments bears to the total Lessor Investments,
        (v)
        the B Percentage Ownership Interests owned by the Lessor and each B Percentage
        Lease Participant, (vi) the B Percentage Share of the Lessor and each B
        Percentage Lease Participant, (vii) the percentage which the B Percentage
        Lessor
        Investments bears to the total Lessor Investments and (viii) with respect
        to
        each B Percentage Lease Participant, the identification of that portion of
        such
        B Percentage Lease Participant’s B Percentage Lessor Investments which is
        attributable to the Non-Recourse Amount and that portion which is in excess
        of
        the Non-Recourse Amount. Such Ownership Certificates shall be final and
        conclusive evidence of the amounts set forth therein, in the absence of manifest
        error. The sale by the Lessor to the Lease Participants of Ownership Interests
        shall be absolute sales, and the Lease Participants shall have no recourse
        to
        the Lessor in the event of failure of the Company to pay any Rent, fees or
        other
        amounts payable pursuant to the Lease, this Agreement and the other Operative
        Documents which are attributable to their Ownership Interests, or right to
        require the Lessor to repurchase their Ownership Interests in any
        event.

       

      (b)  The
        Lessor shall serve as the servicing agent for the Lease Participants to collect
        and receive all payments of Rent and other amounts payable pursuant to the
        Lease, this Agreement and the other Operative Documents which are attributable
        to their Ownership Interests, and such amounts, when received by the Lessor
        and
        until distributed to the Lease Participants pursuant to the Lease, this
        Agreement or the other Operative Documents, shall be held by the Lessor in
        trust
        for the Lessor and the Lease Participants. In accordance with Section 10.02,
        the
        parties hereto acknowledge and agree that the Administrative Agent shall
        perform
        certain of the Lessor’s obligations and be entitled to certain rights
        hereunder.

       

      (c)  The
        Administrative Agent, on behalf of the Lessor, shall maintain a record of
        payments of Rent and all other amounts paid to the Lessor pursuant to the
        Lease,
        this Agreement and the other Operative Documents, and the amounts paid by
        the
        Lessor to the Lease Participants pursuant to this Agreement, and such record
        shall be final and conclusive evidence of the amounts recorded therein, absent
        manifest error. A copy of such record shall be made available to the Company
        and
        any Lease Participant upon its request.

       

      Section
        2.06  Lessor
        Confirmation Letter.
        Upon
        Lessee’s request made in writing, but no more frequently than once per fiscal
        quarter, Lessor shall provide an update to the letter referred to in Section
        6.01(h).

       

      Section
        2.07  [Intentionally
        Omitted].
        

       

      Section
        2.08  [Intentionally
        Omitted].
        

       

      ARTICLE
        III.  

       

      

       

      RECOVERY
        OF LESSOR INVESTMENTS;

       

      PAYMENT
        OF YIELD AND OTHER AMOUNTS

       

      Section
        3.01  Recovery
        of Lessor Investments.

       

      (a)  The
        Company will pay or cause to be paid to the Lessor all Rent and other amounts
        payable to the Lessor, for the account of the Lessor and the Lease Participants,
        as the case may be, including all Unrecovered Lessor Investments, all accrued
        and unpaid Yield, Supplemental Rent and other amounts owing under this Agreement
        and the other Operative Documents, in full on the Maturity Date, subject
        to
        Section 3.01(b).

       

      (b)  If,
        on or
        before the Maturity Date, the Company or the Guarantor (or any of their
        respective Affiliates)
        shall exercise the option to purchase the Facility in its entirety, then
        the
        purchase price for the Facility shall be equal to the Purchase Price and
        the
        proceeds of such sale, when received by the Lessor, shall be applied by the
        Lessor in the order specified in Section 3.05(a). If, on the Maturity Date,
        no
        Cancellation Event shall have occurred and the Company or the Guarantor (or
        any
        of their respective Affiliates) shall elect to pay the Final Rent Payment
        and
        not to purchase the Facility, and shall pay the Final Rent Payment, all amounts
        received by the Lessor pursuant to or in connection with the Lease, this
        Agreement or any other Operative Document or as proceeds of the disposition
        of
        the Facility shall be applied by the Lessor to pay the Unrecovered Lessor
        Investments and all accrued Yield (which shall be distributed ratably to
        the
        Funding Parties in accordance with their respective Ownership Interests),
        and to
        the Persons entitled thereto pursuant to the Operative Documents all
        Supplemental Rent and other amounts owing under this Agreement in the order
        specified in Section 3.05(b).

       

      Section
        3.02  Redemptions.

       

      (a)  On
        or
        after the third anniversary of the Restatement Closing Date, the Company
        may
        from time to time, upon at least 2 Business Days’ notice to the Lessor which
        specifies the proposed date (which shall be a Business Day) and aggregate
        principal amount of the redemption and the Lessor Investments to be redeemed,
        and if such notice is given the Company shall, as specified in such notice,
        redeem no later than 12:00 noon, Charlotte, North Carolina, time, on such
        date,
        and the amount of such redemption payment, when received by the Lessor, shall
        be
        applied to redeem, the outstanding principal amounts of the Lessor Investments
        constituting A Percentage Lessor Investments, in whole or ratably in part,
        together with accrued Yield to the date of such redemption on the amount
        redeemed (and the Lessor shall, on the same Business Day on which received,
        distribute to the A Percentage Lease Participants as provided below; provided,
        however, that (i) each partial redemption shall be in an aggregate principal
        amount not less than $1,000,000 or an integral multiple of $500,000 in excess
        thereof, and (ii) in the event of any such redemption of Lessor Investments
        on
        any day other than the last day of the Yield Period for such Lessor Investments,
        the Company, as agent for the Lessor, shall be obligated to reimburse the
        applicable Funding Parties in respect thereof pursuant to, and to the extent
        required by, Section 5.05. Any redemption pursuant to this Section 3.02 shall
        be
        allocated among the A Percentage Lessor Investments in accordance with their
        respective A Percentage Shares. Within 5 Business Days after its receipt
        of such
        redemption amount, the Lessor, at the expense of the Company, shall execute
        and
        deliver to each of the Lease Participants a new Ownership Certificate, giving
        effect to such redemption and dated the date thereof.

       

      (b)  [Intentionally
        Omitted].

       

      Section
        3.03  Yield
        on Lessor Investments; Overdue Amounts.

       

      (a)  Yield
        shall accrue on the Lessor Investments and be payable at a rate per annum
        equal
        to the Adjusted LIBO Rate for the applicable Yield Period plus the Applicable
        Margin, but in no event to exceed the Highest Lawful Rate (the “Yield”).

       

      (b)  Notwithstanding
        the foregoing, the Company, by the payment of additional Rent under the Lease,
        or otherwise, shall pay or cause to be paid to the Lessor, at the applicable
        Default Rate on the amount of Lessor Investments, Yield, Supplemental Rent
        or
        other amounts owing by the Company under this Agreement or any other Operative
        Document which shall not be paid in full when due (whether at stated maturity,
        by acceleration or otherwise), for the period commencing on the due date
        thereof
        until the same is paid in full, in each case to the maximum extent permitted
        by
        applicable law (and the Lessor shall, on the day of receipt, if received
        prior
        to 2:00 p.m., Charlotte, North Carolina, time, or on the next succeeding
        Business Day, if received at or after 2:00 p.m., Charlotte, North Carolina,
        time, distribute to the Lease Participants their respective A Percentage
        Share
        or B Percentage Share, as applicable, thereof, or to such other Person as
        shall
        be entitled thereto pursuant to the Operative Documents). 

       

      (c)  Accrued
        Yield on the Lessor Investments shall be payable on the last day of each
        Yield
        Period therefor and on the Maturity Date. Yield payable at the Default Rate
        shall be payable from time to time on demand.

       

      (d)  Promptly
        after the determination of the rate of any Yield provided for herein or any
        change therein, the Lessor shall notify the Lease Participants which have
        an
        Ownership Interest in such Yield and the Company of such determination or
        change. 

       

      Section
        3.04  Payments
        by Lessor.
        All
        moneys received by the Lessor pursuant to the Lease including, but not limited
        to, payments of Basic Rent, Supplemental Rent, the Termination Value or the
        Final Rent Payment, except for amounts allocable to fees and expenses of
        the
        Lessor pursuant to the Operative Documents and amounts comprising Supplemental
        Rent payable to third Persons, if any, shall be paid to the Funding Parties
        in
        accordance with, and to pay amounts owing pursuant to, the terms of this
        Agreement, including without limitation Section 4.01 and, if applicable,
        Section
        3.05.

       

      Section
        3.05  Applications
        of Payments and Proceeds.

       

      (a)  Upon
        the
        occurrence of (x) a Cancellation Event or (y) a Termination Event (and the
        Company elects pursuant to Section 15(a) of the Lease to exercise its option
        to
        purchase the Facility for the Purchase Price), or if the Company otherwise
        elects to acquire the Facility for the Purchase Price, the Purchase Price
        or the
        Termination Value, as the case may be, and all other monies received by the
        Lessor (or the Administrative Agent on the Lessor’s behalf) pursuant to or in
        connection with the Lease, this Agreement or any other Operative Document,
        including, without limitation, the proceeds of any insurance or condemnation
        awards received as a result of any Casualty Occurrence or Loss Event, shall
        be
        applied in the following order:

       

      (i)  first,
        to pay
        or reimburse all Supplemental Rent and other costs and expenses, including,
        without limitation, those in connection with Indemnified Risks, increased
        costs,
        or Taxes, then due and owing to the Funding Parties under the other Operative
        Documents (collectively, the “Other
        Transaction Expenses”),
        pro
        rata to each such Person; 

       

      (ii)  second,
        to pay
        all accrued, unpaid Yield on the A Percentage Lessor Investments and the
        B
        Percentage Lessor Investments, to the Lessor (who shall distribute pro rata
        to
        each of the A Percentage Lease Participants and B Percentage Lease Participants
        its A Percentage Share and/or B Percentage Share thereof, as applicable);
        and

       

      (iii)  third,
        in an
        amount equal to the aggregate outstanding principal balance of the A Percentage
        Lessor Investments, to the Lessor (who shall distribute to each of the A
        Percentage Lease Participants its A Percentage Share thereof); and

       

      (iv)  fourth,
        in an
        amount equal to the aggregate outstanding principal balance of that portion
        of
        the B Percentage Lessor Investments which is in excess of the Non-Recourse
        Amount, to the Lessor (who shall distribute to each of the B Percentage Lease
        Participants its B Percentage Share thereof); and

       

      (v)  fifth,
        in an
        amount equal to the aggregate outstanding principal balance of that portion
        of
        the B Percentage Lessor Investments which is attributable to the Non-Recourse
        Amount, to Lessor (who shall distribute to each of the B Percentage Lease
        Participants its B Percentage Share thereof). 

       

      Any
        monies remaining after payment in full of the foregoing amounts and all other
        amounts owing by the Company from time to time under the Operative Documents
        shall be paid to the Lessor for distribution to the Company.

       

      (b)  If
        (i) a
        Termination Event has occurred, (ii) a Cancellation Event does not exist
        and
        (iii) the Company has not elected to purchase the Facility for the Purchase
        Price, and has paid the Final Rent Payment pursuant to Section 15(a) of the
        Lease, then the Final Rent Payment shall be applied as follows:

       

      (i)  first,
        to pay
        or reimburse all Other Transaction Expenses;

       

      (ii)  second,
        to pay
        all accrued, unpaid Yield on the A Percentage Lessor Investments and the
        B
        Percentage Lessor Investments, to the Lessor (who shall distribute pro rata
        to
        each of the A Percentage Lease Participants and B Percentage Lease Participants
        its A Percentage Share and/or B Percentage Share thereof, as applicable);
        

       

      (iii)  third,
        in an
        amount equal to the aggregate outstanding principal balance of the A Percentage
        Lessor Investments, to the Lessor (who shall distribute to each of the A
        Percentage Lease Participants its A Percentage Share thereof); and

       

      (iv)  fourth,
        in an
        amount equal to the aggregate outstanding principal balance of that portion
        of
        the B Percentage Lessor Investments which is in excess of the Non-Recourse
        Amount, to the Lessor (who shall distribute to each of the B Percentage Lease
        Participants its B Percentage Share thereof); and

       

      (v)  fifth,
        the
        balance, if any, to be applied as provided in the following provisions of
        this
        paragraph (b).

       

      In
        such
        circumstances, all other monies received by the Lessor pursuant to or in
        connection with the Lease, this Agreement or any other Operative Document
        or as
        proceeds of disposition of the Facility shall be applied as
        follows:

       

      (i)  first,
        to pay
        to the Lessor (who shall distribute to each of the B Percentage Lease
        Participants its B Percentage Share thereof), an amount equal to the aggregate
        outstanding principal balance of that portion of the B Percentage Lessor
        Investments which is attributable to the Non-Recourse Amount, excluding the
        portion thereof attributable to the Lessor Equity Interest; 

       

      (ii)  second,
        to pay
        to the Lessor, for its own account, an amount equal to the aggregate outstanding
        principal balance of that portion of the B Percentage Lessor Investments
        attributable to the Lessor Equity Interest; and 

       

      (iii)  third,
        to
        reimburse the Company for Support Expenses.

       

      Any
        monies remaining after payment in full of the foregoing amounts and all other
        amounts owing by the Company from time to time under the Operative Documents
        shall be paid to the Lessor for distribution to the Company.

       

      (c)  If
        the
        circumstances described in Section 3.05(b)(i) and (ii) exist, but the Company
        has either failed to elect to exercise its option to purchase the Facility,
        failed to make the Final Rent Payment and/or failed to furnish to the Lessor
        a
        satisfactory update of the environmental reports initially furnished with
        respect to the Facility, then the Lessor will be entitled to exercise
        foreclosure remedies set forth in Section 26 of the Lease and all moneys
        received by the Lessor from the disposition of the Facility or other foreclosure
        action, net of enforcement costs, will be applied (i) first,
        to
        payment of the Unrecovered Lessor Investments attributable to that portion
        of
        the principal balance of the B Percentage Lessor Investments which is
        attributable to the Non-Recourse Amount, but excluding the portion thereof
        attributable to the Lessor Equity Interest (which payment shall be distributed
        to each of the B Percentage Lease Participants according to its B Percentage
        Share thereof), (ii) second,
        to the
        remaining Unrecovered Lessor Investments attributable to the Lessor Equity
        Interest (which shall be retained by the Lessor), and (iii) third,
        any
        remaining net proceeds shall be applied in accordance with 3.05(a) in the
        same
        manner as if the Final Rent Payment had been made, and in such circumstances,
        the Company shall remain liable for any deficiency in such remaining net
        proceeds to pay such amounts described in Section 3.05(a). 

       

      ARTICLE
        IV.  

       

      

       

      PAYMENTS;
        COMPUTATIONS; ETC.

       

      Section
        4.01  Payments.
        The
        Company (or, in the case of the principal amount of the B Percentage Lessor
        Investments in the circumstances described in Section 3.05(b) and if the
        Company
        shall have paid the Final Rent Payment, the Lessor), shall make each payment
        under this Agreement, whether the amount so paid is owing to any or all of
        the
        Funding Parties, not later than 12:00 noon, Charlotte, North Carolina, time,
        without setoff, counterclaim, or any other deduction whatsoever, on the day
        when
        due in Dollars to the Lessor c/o the Administrative Agent, at its address:
        Wachovia Bank, National Association, 301 S. College Street, MC 0174, Charlotte,
        North Carolina 28288, Attention: Gabrielle Braverman, Reference: Protective
        Life
        Insurance Company Facility, or at such other location designated by notice
        to
        the Company from the Lessor, in same day funds,. The Lessor will promptly
        thereafter (on the same day received, if received by 2:00 p.m., Charlotte,
        North
        Carolina, time) cause to be distributed to the other Funding Parties like
        funds
        relating to the payment of principal or Yield ratably (other than amounts
        payable pursuant to Section 4.06 or 11.03 or Article V) according to the
        respective amounts of such principal or Yield then due and owing to the Funding
        Parties, to be applied in accordance with the terms of this Agreement. Upon
        its
        acceptance of an Assignment and Acceptance and recording of the information
        contained therein in the Register pursuant to Section 11.06(d), from and
        after
        the effective date specified in such Assignment and Acceptance, the Lessor
        shall
        make all payments under this Agreement in respect of the interest assigned
        thereby to the assignee thereunder, and the parties to such Assignment and
        Acceptance shall make all appropriate adjustments in such payments for periods
        prior to such effective date directly between themselves. Any payments and
        redemptions received hereunder, other than after the occurrence and during
        the
        continuation of a Cancellation Event or Termination Event, shall be applied
        in
        accordance with the purpose for which such payment or redemption is made.
        All
        payments by the Company under any Operative Document shall be made in the
        manner
        specified in this Article IV. 

       

      Section
        4.02  Pro
        Rata Treatment.
        Except
        to the extent otherwise provided herein: (a) each payment of A Percentage
        Lessor
        Investments and B Percentage Lessor Investments received by the Lessor shall
        be
        distributed to the A Percentage Lease Participants and B Percentage Lease
        Participants, as applicable, pro rata in accordance with their respective
        A
        Percentage Ownership Interests and B Percentage Ownership Interests, as
        applicable; (b) each payment of A Percentage Yield and B Percentage Yield
        received by the Lessor shall be distributed to the A Percentage Lease
        Participants and B Percentage Lease Participants pro rata in accordance with
        their respective A Percentage Ownership Interests and B Percentage Ownership
        Interests, as applicable; and (e) each amount received by a setoff by any
        Funding Party pursuant to Section 11.05 shall be shared with all other Funding
        Parties so that each Funding Party receives its A Percentage Share and B
        Percentage Share, respectively, thereof.

       

      Section
        4.03  Computations.
        All
        computations of Yield shall be made by the Lessor, on the basis of a year
        of 360
        days (or, in the case of computations based on the Prime Rate, 365/366 days),
        in
        each case for the actual number of days (including the first day but excluding
        the last day) occurring in the period for which such Yield is payable. Whenever
        any payment hereunder shall be stated to be due on a day other than a Business
        Day, such payment shall be made on the next succeeding Business Day, and
        such
        extension of time in such case shall be included in the computation of payment
        of Yield; provided, however, that if such extension would cause payment of
        Yield
        on or amount of any Lessor Investment to be made in the next following calendar
        month, such payment shall be made on the next preceding Business
        Day.

       

      Section
        4.04  Non-receipt
        of Funds by the Lessor.
        Unless
        the Lessor shall have received notice from the Company, as Lessee under the
        Lease, prior to the date on which any payment is due to the Funding Parties
        hereunder that the Company will not make such payment in full, the Lessor
        may
        assume that the Company, as Lessee under the Lease, has made such payment
        in
        full to the Lessor on such date and the Lessor may, in reliance upon such
        assumption, but shall not be obligated to, cause to be distributed to each
        Lease
        Participant on such due date an amount equal to the amount then due such
        Lease
        Participant. If and to the extent the Lessor or the Company shall not have
        so
        made such payment in full to the Lessor, each Lease Participant shall repay
        to
        the Lessor forthwith on demand such amount distributed to such Lease Participant
        together with interest thereon, for each day from the date such amount is
        distributed to such Lease Participant until the date such Lease Participant
        repays such amount to the Lessor, at a rate equal to (i) until the Business
        Day
        after the Business Day on which such demand is made, the Federal Funds Rate
        for
        such day and (ii) thereafter 50 basis points above the Federal Funds Rate
        for
        such day.

       

      Section
        4.05  Sharing
        of Payments.
        If any
        Funding Party shall obtain any payment (whether voluntary, involuntary, through
        the exercise of any right of set-off, or otherwise) on account of its Ownership
        Interests (other than pursuant to Section 4.06 or 11.03 or Article V) in
        excess
        of its ratable share of payments then due and owing to it in accordance with
        the
        payment orders specified in Section 3.05 or Section 4.02 on account of the
        Lessor Investments obtained by all the Funding Parties, such Funding Party
        shall
        forthwith purchase from the other Funding Parties participations in such
        Ownership Interests of the other Funding Parties, as shall be necessary to
        cause
        such purchasing Funding Party to share the excess payment ratably with each
        of
        them (or, if necessary, to cause such purchasing Funding Party to assume
        the
        payment priority specified in Section 3.05), provided, however, that if all
        or
        any portion of such excess payment is thereafter recovered from such purchasing
        Funding Party, such purchase from each Funding Party shall be rescinded and
        each
        Funding Party shall repay to the purchasing Funding Party the purchase price
        to
        the extent of such recovery together with an amount equal to such Funding
        Party’s A Percentage Share or B Percentage Share, as applicable. The Company
        agrees that any Funding Party so purchasing a participation from another
        Funding
        Party pursuant to this Section may, to the fullest extent permitted by law,
        exercise all its rights of payment (including any right of set-off) with
        respect
        to such participation as fully as if such Funding Party were the direct creditor
        of the Company in the amount of such participation.

       

      Section
        4.06  Taxes.

       

      (a)  Any
        and
        all payments of principal, Yield and all other amounts to be paid to the
        Lessor,
        for itself or for distribution to any Lease Participant, by the Company,
        as
        Lessee under the Lease, or any other Operative Document to each Indemnified
        Party, shall be made, in accordance with Section 4.01, without deduction
        for,
        and free from, any tax, imposts, levies, duties, deductions, or withholdings
        of
        any nature now or at any time hereafter imposed by any Governmental Authority
        or
        by any taxing authority thereof or therein, excluding in the case of each
        Funding Party, taxes imposed on or measured by the net income or net worth
        of
        any Funding Party, and franchise taxes imposed on such Funding Party (all
        such
        non-excluded taxes, imposts, levies, duties, deductions or withholdings of
        any
        nature being “Taxes”).
        In
        the event that the Lessor or Company, as Lessee under the Lease, is required
        by
        applicable law to make any such withholding or deduction of Taxes with respect
        to any Ownership Interest or other amount, the Company, as Lessee under the
        Lease, shall pay such deduction or withholding to the applicable taxing
        authority, shall promptly furnish to any Funding Party or other Person in
        respect of which such deduction or withholding is made all receipts and other
        documents evidencing such payment and shall pay to such Funding Party or
        other
        Person additional amounts as may be necessary in order that the amount received
        by such Funding Party or other Person after the required deduction or
        withholding shall equal the amount such Funding Party would have received
        had no
        such deduction or withholding been made.

       

      (b)  Each
        Lease Participant that is not chartered and organized under the laws of the
        United States of America or a state thereof (each a “Non-U.S.
        Domestic Participant”)
        agrees, as soon as practicable after receipt by it of a request by the Lessor
        or
        the Company, as Lessee under the Lease, to do so, to file all appropriate
        forms
        and take other appropriate action to obtain a certificate or other appropriate
        document from the appropriate governmental authority in the jurisdiction
        imposing the relevant taxes, establishing that it is entitled to receive
        payments of principal and Yield under or in respect of this Agreement and
        its
        Ownership Interests without deduction and free from withholding of any Taxes
        imposed by such jurisdiction; provided,
        that,
        if it
        is unable, by virtue of any applicable law, rule or regulation, to establish
        such exemption or to file such forms and, in any event, during such period
        of
        time as such request for exemption is pending, the Company, as Lessee under
        the
        Lease, shall nonetheless remain obligated under the terms of the immediately
        preceding paragraph. Without limiting the foregoing, each Non-U.S. Domestic
        Participant agrees to deliver to the Lessor and to the Company, as Lessee
        under
        the Lease, promptly upon any request therefor from time to time, such forms,
        documents and other information as may be required by applicable law from
        time
        to time to establish that payment to such Non-U.S. Domestic Participant
        hereunder or with respect to its Ownership Interests or under the Guaranty
        are
        exempt from Taxes. Without limiting the generality of the foregoing, each
        Non-U.S. Domestic Participant agrees, on the date of its execution of this
        Agreement (or, in the case of an Eligible Assignee, on the date on which
        such
        Eligible Assignee becomes a party to this Agreement), to deliver in duplicate
        to
        the Lessor and to the Company, as Lessor under the Lease, accurate and duly
        completed and executed Internal Revenue Service Form 4224 or 1001 (as
        applicable), together with Internal Revenue Service Forms W-8 or W-9, as
        appropriate, establishing that such Non-U.S. Domestic Participant is entitled
        to
        a complete exemption from all Taxes imposed by the federal government of
        the
        United States by way of withholding, including without limitation, all backup
        withholding (“U.S.
        Withholding Taxes”).
        Thereafter, from time to time (i) upon any change by a Non-U.S. Domestic
        Participant of its Applicable Funding Office, (ii) before or promptly after
        any
        event occurs (including, without limitation, the passing of time) requiring
        a
        change in or update of the most recent Form 4224 or 1001 previously delivered
        by
        such Non-U.S. Domestic Participant, or (iii) upon the reasonable request
        of the
        Lessor or the Company, as Lessee under the Lease, such Non-U.S. Domestic
        Participant shall deliver in duplicate to the Lessor and to the Company,
        as
        Lessee under the Lease, accurate and duly completed and executed Form 4224
        or
        1001 (as applicable) (together with Forms W-8 or W-9, as aforesaid) in
        replacement of the forms previously delivered by such Non-U.S. Domestic
        Participant, establishing that such Non- U.S. Domestic Participant is entitled
        to an exemption in whole or in part from all U.S. Withholding Taxes except
        to
        the extent that a change in law has rendered all such forms inapplicable
        to such
        Non-U.S. Domestic Participant.

       

      (c)  If
        the
        Internal Revenue Service or any other taxation authority in the United States
        or
        in any other jurisdiction successfully asserts a claim that such Non-U.S.
        Domestic Participant, the Lessor or the Company, as Lessee under the Lease,
        did
        not properly withhold tax from amounts paid to or for the account of any
        Non-U.S. Domestic Participant or its participant (because the appropriate
        form
        was not properly executed, or because such Non-U.S. Domestic Participant
        failed
        to notify the Lessor, Company, as Lessee under the Lease, of a change in
        circumstances which rendered the exemption from (or reduction in) U.S.
        Withholding Taxes ineffective), such Non-U.S. Domestic Participant shall
        indemnify the Company, as Lessee under the Lease, fully for all amounts paid,
        directly or indirectly, by the Lessor or the Company, as Lessee under the
        Lease,
        as applicable, as tax or otherwise, including, without limitation, penalties
        and
        interest.

       

      (d)  In
        the
        event any Funding Party receives a refund from the Governmental Authority
        to
        which such Taxes were paid of any Taxes paid by the Company pursuant to this
        Section 4.06, it will pay to the Company the amount of such refund promptly
        upon
        receipt thereof; provided, however, if at any time thereafter it is required
        to
        return such refund, the Company shall promptly repay to it the amount of
        such
        refund.

       

      (e)  Nothing
        in this Section shall require any Funding Party to disclose any information
        about its tax affairs or interfere with, limit or abridge the right of any
        Funding Party to arrange its tax affairs in any manner in which it
        desires.

       

      (f)  Without
        prejudice to the survival of any other agreement of the Company hereunder,
        the
        agreements and obligations of the Company and the Funding Parties contained
        in
        this Section 4.06 shall be applicable with respect to any Funding Party,
        Eligible Assignee or other transferee, and any calculations required by such
        provisions (i) shall be made based upon the circumstances of such Funding
        Party,
        Eligible Assignee or other transferee (subject to Section 11.06(j)), and
        (ii)
        constitute a continuing agreement and shall survive for a period of 2 years
        after the termination of this Agreement and the payment in full of the Lessor
        Investments.

       

      ARTICLE
        V.  

       

      

       

      YIELD
        PROTECTION AND ILLEGALITY

       

      Section
        5.01  Basis
        for Determining Yield Rate Inadequate or Unfair.
        The
        Lessor shall give prompt notice to the Company and the Lease Participants
        of the
        applicable Yield determined by the Lessor for purposes of Sections 3.03(a)
        and
        (b). If on or prior to the first day of any Yield Period:

       

      (a)  the
        Lessor determines that deposits in Dollars (in the applicable amounts), are
        not
        being offered in the relevant market for such Yield Period, or 

       

      (b)  the
        Majority Funding Parties determine and give notice to the Lessor that the
        rates
        or yield determined on the basis of the LIBO Rate for any Yield Period for
        Lessor Investments or Lease Participant Investments will not adequately and
        fairly reflect the cost to Majority Funding Parties of maintaining their
        respective Lessor Investments or Lease Participant Investments for such Yield
        Period, the Lessor shall forthwith so notify the Company and the Lease
        Participants, whereupon,

       

      (i)  in
        the
        case of such notice from the Majority Funding Parties, the Lessor Investments
        and Lease Participant Investments will automatically, on the last day of
        the
        then existing Yield Period, accrue Yield at a rate based upon the Base Rate
        plus
        the Applicable Margin as set forth in the Pricing Schedule, and

       

      (ii)  the
        obligation of the Majority Funding Parties to maintain Lessor Investments
        or
        Lease Participant Investments, as applicable, at the Adjusted LIBO Rate shall
        be
        suspended until the Lessor shall notify the Company and the Lease Participants
        that the circumstances causing such suspension no longer exist. 

       

      Upon
        the
        written request of the Company, the Lessor shall negotiate with the Company
        and
        the relevant Lease Participants for a reasonable period of time, as determined
        in the Lessor’s discretion, to develop a substitute interest rate basis
        hereunder; provided, however, (x) the Lessor, the Lease Participants and
        the
        Company make no representation, warranty or covenant that any such agreement
        will be made, and (y) any relevant Lessor Investments and Lease Participant
        Investments shall continue to have Yield accrue thereon at the Base Rate
        during
        the continuance of any such negotiations and thereafter should no alternate
        interest rate be agreed to by the necessary parties.

       

      Section
        5.02  Illegality.
        If,
        after the date hereof, 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 administration thereof (any such agency being
        referred to as a “Banking
        Authority”
and
        any
        such event being referred to as a “Change
        of Law”),
        or
        compliance by any Funding Party (or its Applicable Funding Office) with any
        request or directive (whether or not having the force of law) of any Banking
        Authority shall make it unlawful or impossible for any Funding Party (or
        its
        Applicable Funding Office) to make or maintain its Lessor Investments or
        Lease
        Participant Investments, as applicable, based upon the Adjusted LIBO Rate
        and
        such Funding Party (if not the Lessor) shall so notify the Lessor, the Lessor
        shall forthwith give notice thereof to the other Funding Parties and to the
        Company and the Guarantor, whereupon until such Funding Party notifies the
        Lessor (if it is not such Funding Party), the other Funding Parties, the
        Company
        and the Guarantor that the circumstances giving rise to such suspension no
        longer exist, the obligation of such Funding Party to make or maintain Lessor
        Investments or Lease Participant Investments, as applicable, based upon the
        Adjusted LIBO Rate shall be suspended. Before giving any notice to the Lessor
        (or, in the case of the Lessor as a Funding Party, to the Company) pursuant
        to
        this Section, such Funding Party shall designate a different Applicable Funding
        Office if such designation will avoid the need for giving such notice and
        will
        not, in the judgment of such Funding Party, be otherwise disadvantageous
        to such
        Funding Party. If such Funding Party shall determine that it may not lawfully
        continue to maintain and fund any of its outstanding Lessor Investments or
        Lease
        Participant Investments, as applicable, to maturity and shall so specify
        in such
        notice, the Company shall immediately redeem the full amount of the Lessor
        Investments (if such Funding Party is the Lessor) together with Yield thereon,
        or the full amount of such Funding Party’s Lease Participant Investments (if
        such Funding Party is not the Lessor) together with Yield thereon. At any
        time
        within 90 days after the giving of a notice by any Lease Participant pursuant
        to
        this Section 5.02, so long as no Event of Default shall be in existence,
        and so
        long as the Lessor has granted its consent (which it may grant or withhold
        in
        its sole and absolute discretion), the Company may require by written notice
        to
        that Lease Participant that (a) it assign its Lease Participant Investments
        to
        another Lease Participant or to a bank or other financial institution selected
        by the Company which is willing to accept such assignment or (b) it surrender
        its Lease Participant Investments and terminate its rights and obligations
        as a
        Lease Participant hereunder, concurrently with a redemption by the Company
        of
        the Lease Participant Investments of such Lease Participant together with
        Yield
        thereon (which redemption and Yield shall be paid to such Lease
        Participant).

       

      Section
        5.03  Increased
        Cost and Reduced Return.

       

      (a)  If
        after
        the date hereof, a Change of Law or compliance by any Funding Party (or its
        Applicable Funding Office) with any request or directive (whether or not
        having
        the force of law) of any Banking Authority: 

       

      (i)  shall
        subject any Funding Party (or its Applicable Funding Office) to any tax,
        duty or
        other charge on its Lessor Investments or Lease Participant Investments,
        or
        maintain its Lessor Investments or Lease Participant Investments or shall
        change
        the basis of taxation of payments to any Funding Party (or its Applicable
        Funding Office) of the principal amount of or interest on its Lessor Investments
        or Lease Participant Investments, or Yield thereon or any other amounts due
        under this Agreement or any other Operative Document in respect of its Lessor
        Investments or Lease Participant Investments (except for changes in the rate
        of
        any tax based on the net income, net worth or gross receipts of such Funding
        Party or its Applicable Funding Office); or

       

      (ii)  shall
        impose, modify or deem applicable any reserve, special deposit or similar
        requirement (including, without limitation, any such requirement imposed
        by the
        Board of Governors of the Federal Reserve System, but excluding any such
        requirement included in an applicable Euro-Dollar Reserve Percentage) against
        assets of, deposits with or for the account of, or credit extended by, any
        Funding Party (or its Applicable Funding Office); or

       

      (iii)  shall
        impose on any Funding Party (or its Applicable Funding Office) or on the
        United
        States market or the London interbank market any other condition affecting
        its
        Lessor Investments or Lease Participant Investments, or obligation to make
        or
        maintain Lessor Investments or Lease Participant Investments;

       

      and
        the
        result of any of the foregoing is to increase the cost to such Funding Party
        (or
        its Applicable Funding Office) of making or maintaining any Lessor Investments
        or Lease Participant Investments, or to reduce the amount of any sum received
        or
        receivable by such Funding Party (or its Applicable Funding Office) under
        this
        Agreement or any other Operative Document with respect thereto, by an amount
        deemed by such Funding Party to be material, then, within fifteen (15) days
        after demand by such Funding Party (with a copy to the Lessor, if it is not
        such
        Funding Party), the Company shall pay to such Funding Party such additional
        amount or amounts as will compensate such Funding Party for such increased
        cost
        or reduction; provided,
        however,
        that no
        such amount may be claimed by any Funding Party which is attributable to
        periods
        prior to the date which is 180 days preceding the date on which the officer
        of
        the Funding Party having primary responsibility for asset-liability management
        shall have obtained actual knowledge of such Change of Law or request or
        directive. At any time within 90 days after payment by the Company of any
        material amount to any Lease Participant or Lease Participants pursuant to
        paragraph (a) or (b) of this Section, so long as no Event of Default shall
        be in
        existence, and so long as the Lessor has granted its consent (which it may
        grant
        or withhold in its sole and absolute discretion), the Company may require
        by
        written notice to each such Lease Participant that (i) it assign its Lease
        Participant Investments to another Lease Participant or to a bank or other
        financial institution selected by the Company which is willing to accept
        such
        assignment or (ii) it surrender its Lease Participant Investments and terminate
        its rights and obligations as a Lease Participant hereunder, concurrently
        with a
        redemption by the Company of the Lessor Investments by an amount equal to
        the
        Lease Participant Investments held by that Lease Participant together with
        Yield
        thereon (which redemption and Yield shall be paid to such Lease
        Participant).

       

      (b)  If
        any
        Funding Party shall have determined that after the date hereof the adoption
        of
        any applicable law, rule or regulation regarding capital adequacy, or any
        change
        therein, or any change in the interpretation or official administration thereof,
        or compliance by any Funding Party (or its Applicable Funding Office) or
        any
        Person controlling such Funding Party with any request or directive regarding
        capital adequacy (whether or not having the force of law) of any Banking
        Authority, has or would have the effect of reducing the rate of return on
        such
        Funding Party’s or such controlling Person’s capital as a consequence of its
        obligations hereunder to a level below that which such Funding Party or such
        controlling Person could have achieved but for such adoption, change or
        compliance (taking into consideration such Funding Party’s or such controlling
        Person’s policies with respect to capital adequacy) by an amount deemed by such
        Funding Party or such controlling Person to be material, then from time to
        time,
        within 15 days after demand by such Funding Party or such controlling Person,
        the Company shall pay to such Funding Party such additional amount or amounts
        as
        will compensate such Funding Party or such controlling Person for such
        reduction, subject to the proviso at the end of Section 5.03(a).

       

      (c)  Each
        Funding Party will promptly notify the Lessor (if such Funding Party is a
        Lease
        Participant) and the Company of any event of which its officer having primary
        responsibility for asset-liability management has knowledge, which occurs
        or is
        expected to occur after the date hereof, which will entitle such Funding
        Party
        to compensation pursuant to and subject to the limitations contained in this
        Section and will designate a different Applicable Funding Office if such
        designation will avoid the need for, or reduce the amount of, such compensation
        and will not, in the reasonable judgment of such Funding Party, be otherwise
        materially disadvantageous to such Funding Party. A certificate of any Funding
        Party claiming compensation under this Section and setting forth in reasonable
        detail the additional amount or amounts to be paid to it hereunder shall
        be
        presumed to be correct in the absence of manifest error. In determining such
        amount, such Funding Party may use any reasonable averaging and attribution
        methods. Nothing in this Section shall require any Funding Party to disclose
        any
        information about its tax affairs or interfere with, limit or abridge the
        right
        of any Funding Party to arrange its tax affairs in any manner it desires,
        subject to Section 11.16(b).

       

      (d)  The
        provisions of this Section 5.03 shall (i) be applicable with respect to any
        Funding Party, assignee or other transferee, and any calculations required
        by
        such provisions shall be made based upon the circumstances of such Funding
        Party, assignee or other transferee and (ii) constitute a continuing agreement
        and shall survive for a period of one year after the termination of this
        Agreement and the redemption in full of the Lessor Investments and Lease
        Participant Investments.

       

      Section
        5.04  Base
        Rate Substituted for Adjusted LIBO Rate.
        If (i)
        the obligation of any Funding Party to make or maintain Lessor Investments
        or
        Lease Participant Investments has been suspended pursuant to Section 5.02
        or
        (ii) any Funding Party has demanded compensation under Section 5.03, and
        the
        Company shall, by at least 5 Business Days’ prior notice to such Funding Party,
        with a copy to the Lessor (if it is not such Funding Party), have elected
        that
        the provisions of this Section shall apply to such Funding Party, then, unless
        and until such Funding Party notifies the Lessor (if it is not such Funding
        Party) and the Company that the circumstances giving rise to such suspension
        or
        demand for compensation no longer apply:

       

      (a)  all
        Lessor Investments or Lease Participant Investments that would otherwise
        be made
        or maintained by such Funding Party (and Lessor Investments related thereto,
        if
        such Funding Party is a Lease Participant) based upon the Adjusted LIBO Rate
        shall be made or, from the beginning of the next Yield Period therefor, be
        maintained instead based upon the Base Rate, plus the Applicable Margin (in
        all
        cases Yield and principal or other amounts payable on such Lessor Investments
        and/or Lease Participant Investments shall be payable contemporaneously with
        the
        related or comparable amount payable in respect of the other Funding Parties),
        and

       

      (b)  after
        each of the Lessor Investments and/or Lease Participant Investments made
        or
        maintained based upon the Adjusted LIBO Rate has been repaid, all payments
        of
        principal that would otherwise be applied to redeem such Lessor Investments
        and/or Lease Participant Investments shall be applied to redeem Lessor
        Investments and/or Lease Participant Investments made or maintained based
        upon
        the Base Rate instead.

       

      Section
        5.05  Compensation.
        Upon
        the request of any Funding Party, delivered to the Lessor (if it is not such
        Funding Party) and the Company, the Company shall pay to such Funding Party
        such
        amount or amounts as shall compensate such Funding Party for any loss, cost
        or
        expense incurred by such Funding Party as a result of any payment, prepayment
        or
        redemption (pursuant to Section 5.02 or otherwise) of a Lessor Investment
        or
        Lease Participant Investment on a date other than the last day of the Yield
        Period therefor.

       

      Section
        5.06  Payments
        and Computations.
        Each
        determination by the Lessor of Yield, or by any Funding Party of an increased
        cost or increased capital or of illegality hereunder, shall be presumed to
        be
        correct and binding for all purposes (absent manifest error) if made reasonably
        and in good faith, subject to Section 5.03(c).

       

      ARTICLE
        VI.  

       

      

       

      CONDITIONS
        PRECEDENT

       

      Section
        6.01  Conditions
        Precedent to Effectiveness of this Agreement.
        This
        Agreement shall become effective when (i) it shall have been executed by
        the
        Lessor and the Company and any A Percentage Lease Participants and B Percentage
        Lease Participants required by the Lessor as of the Restatement Closing Date
        and
        delivered to the office of the Lessor in Charlotte, North Carolina, (ii)
        the
        Lessor either shall have been notified at its office in Charlotte, North
        Carolina, by each A Percentage Lease Participant and B Percentage Lease
        Participant which it requires to be a Lease Participant as of the Restatement
        Closing Date that it has executed this Agreement or shall have received at
        its
        office in Charlotte, North Carolina, or by Lessor’s counsel, a counterpart of
        this Agreement executed by such A Percentage Lease Participant and/or B
        Percentage Lease Participants, and (iii) the Lessor (or the Funding Parties,
        as
        specified below) shall have received at its office in Charlotte, North Carolina,
        or by Lessor’s counsel, the following, each being in form and substance
        satisfactory to the Lessor and (as to this Agreement and the opinions described
        below) in sufficient counterparts for each Lease Participant:

       

      (a)  Certificates
        of Company and Guarantor.
        Certificates of the Secretary or Assistant Secretary of each of the Company
        and
        the Guarantor setting forth (i) resolutions of its board of directors
        authorizing the execution, delivery and performance of the obligations contained
        in this Agreement, with respect to the Company, and the other Operative
        Documents to which it is a party, with
        respect to the Company and the Guarantor, (ii) the officers of the Company
        and
        the Guarantor specified in such Secretary’s Certificates that are authorized to
        sign this Agreement and the other Operative Documents to which the Company
        or
        the Guarantor is a party and, until replaced by another officer or officers
        duly
        authorized for that purpose, to act as its respective representative for
        the
        purposes of signing documents and giving notices and other communications
        in
        connection with this Agreement and the Operative Documents to which it is
        a
        party and (iii) true and correct copies of the articles or certificate of
        incorporation and the bylaws of each of the Company and the Guarantor. The
        parties to this Agreement may conclusively rely on such certificate until
        the
        Lessor (who shall promptly notify all other parties) receives notice in writing
        from the Company or the Guarantor, as the case may be, to the
        contrary.

       

      (b)  Opinion
        of Company’s and Guarantor’s Counsel.
        Favorable opinions of Sutherland, Asbill & Brennan LLP, special counsel to
        the Company and the Guarantor, Balch and Bingham LLP, special Alabama counsel
        to
        the Company and the Guarantor, Bass, Berry & Sims, special Tennessee counsel
        to the Company and the Guarantor, and a senior in-house attorney working
        under
        the General Counsel of the Company and the Guarantor (together with a
        certificate from the Company’s and Guarantor’s general counsel in form and
        substance satisfactory to Lessor to the effect that such senior attorney
        is
        authorized and permitted to deliver such opinion under the respective bylaws,
        articles or certificate of incorporation, and internal policies and procedures
        of the Company and the Guarantor), in the aggregate covering the matters
        addressed in Exhibit D, and as to such other matters as any Funding Party,
        through the Lessor, may reasonably request.

       

      (c)  Execution
        and Delivery of Operative Documents.
        Each of
        the other Operative Documents, including the Guaranty, duly completed and
        executed in sufficient number of counterparts for recording where appropriate.
        

       

      (d)  Recordation
        of Security Instruments.
        The
        Security Instruments (to the extent filing thereof is required for perfection
        or
        otherwise under applicable law) and all related financing statements and
        other
        requisite filing documents shall have been duly filed in the appropriate
        offices
        and, to the fullest extent allowed by applicable law, all costs and taxes
        associated with such filing shall have been paid or provided for by the
        Company.

       

      (e)  Insurance
        Certification.
        The
        Lessor shall have received a certificate by a firm of independent insurance
        brokers or consultants chosen by the Company setting forth the insurance
        obtained, and to be obtained pursuant to the Lease, with respect to the Facility
        and the Company’s operations with respect thereto.

       

      (f)  Lessor
        Assignment Agreement.
        The
        Lessor and WCI shall have executed and delivered the Lessor Assignment
        Agreement.

       

      (g)  Environmental
        Matters.
        The
        Funding Parties, the Arranger, and the Administrative Agent shall have received
        an Environmental Assessment on the Site, conducted not more than 90 days
        before
        the Restatement Closing Date, demonstrating to their satisfaction that there
        is
        no evidence of any hazardous or toxic material or substance which has been
        generated, treated, stored, released or disposed of on the Site, and that
        there
        is no evidence of any violation of any Environmental Requirement and no evidence
        of any Environmental Damages on or pertaining to the Facility, except as
        are
        specified on Schedule 7.01(n).

       

      (h)  Lessor
        Confirmation Letter.
        The
        Lessor shall have executed and delivered to Lessee a Lessor confirmation
        letter
        in the form of Exhibit
        G,
        attached hereto and made a part hereof. 

       

      (i)  Survey.
        The
        Lessor shall have received Surveys respecting the Annex Building and the
        Parking
        Deck.

       

      (j)  Appraisal.
        The
        Funding Parties shall have received an Approved Appraisal of the Property,
        which
        Approved Appraisal shall be in form and substance satisfactory to the Funding
        Parties, the Arranger, and the Administrative Agent, shall not have been
        conducted more than 90 days before the Restatement Closing Date, and shall
        indicate the estimated fair market value of the Facility as of the Restatement
        Closing Date.

       

      (k)  Title
        Insurance.
        A title
        insurance company acceptable to the Lessor in its reasonable discretion shall
        have issued, or provided the Lessor with evidence satisfactory to the Lessor
        that such title insurance company is irrevocably obligated to issue immediately
        after closing of the assignment of the Original Ground Lease (and the
        corresponding leasehold interest in the Site) from WCI to Lessor pursuant
        to the
        Lessor Assignment Agreement and the amendment and restatement thereto as
        set
        forth in the Ground Lease, an owner’s title policy issued to the Lessor insuring
        the leasehold interest of the Lessor in the Site and, in the event that the
        Lease is ever deemed to be a mortgage, as mortgagee of the Facility under
        the
        Lease.

       

      (l)  No
        Default.
        The
        fact that no Default or Event of Default shall have occurred and be continuing
        (under the Original Lease Documents).

       

      (m)  Accuracy
        of Representations, etc.
        The
        representations and warranties of the Company contained in this Agreement,
        and
        the representations and warranties of the Company and the Guarantor contained
        in
        any other Operative Document, are true and correct in all material
        respects.

       

      (n)  Related
        Contracts; Title.
        The
        Lessor shall have good and marketable title to the Facility; and the Lessor
        shall have received executed copies of all Related Contracts requested by
        it.

       

      (o)  Receipt
        of Applicable Permits.
        All
        Applicable Permits shall have been obtained. All Applicable Permits shall
        be in
        proper form, in full force and effect and not subject to any appeal or other
        unsatisfied contest that may allow modification or revocation
        thereof.

       

      (p)  Casualties.
        The
        Facility shall not have suffered (i) a Loss Event or (ii) a Casualty Occurrence
        other than a Casualty Occurrence for which a plan reasonably acceptable to
        the
        Lessor for replacing, or causing to be replaced, the portions of the Facility
        that are the subject of such Casualty Occurrence has been provided to the
        Lessor.

       

      (q)  No
        Material Adverse Change or Effect.
        No
        material adverse change shall have occurred in the financial condition of
        the
        Guarantor and the Consolidated Subsidiaries on a consolidated basis since
        December 31, 2005, and no event, act, condition or occurrence shall exist
        or
        have occurred that has had, or would reasonably be expected to have, a Material
        Adverse Effect.

       

      (r)  Taxes,
        Filings, Recordings.
        All
        filings or recordings reasonably considered necessary by the Lessor or any
        Lease
        Participant have been completed and all taxes and fees in connection therewith,
        and all Impositions with respect to the Facility that are due and payable,
        shall
        have been paid by the Company.

       

      (s)  Wachovia
        Corporation Indemnity Letter.
        Wachovia Corporation shall have executed and delivered to Lessee an indemnity
        letter dated the Restatement Closing Date and in form and substance satisfactory
        to Wachovia Corporation and Lessor, pursuant to which, among other things,
        Wachovia Corporation will support the obligations of Lessor as Lessor under
        the
        Operative Documents.

       

      (t)  Other.
        Such
        other documents as the Lessor or any Lease Participant or special counsel
        to the
        Lessor may reasonably request.

       

      Section
        6.02  [Intentionally
        Omitted].

       

      Section
        6.03  Closing.
        On the
        Restatement Closing Date (or in the case of clause (b), as soon thereafter
        as
        the applicable closing conditions shall have been satisfied), at such place
        as
        the parties hereto shall agree:

       

      (a)  this
        Agreement and each of the Operative Documents shall be duly executed and
        delivered by the parties to such documents; and

       

      (b)  subject
        to the satisfaction of the conditions precedent specified in Section 6.01
        of
        this Agreement, the Original Ground Lease shall be deemed amended and restated
        as set forth in the Ground Lease, the Original Lease Agreement shall be deemed
        amended and restated as set forth in the Lease, the Original Guaranty Agreement
        shall be deemed amended and restated as set forth in the Guaranty, this
        Agreement shall become effective, and the Lessor Investments shall be deemed
        recharacterized as the A Percentage Lessor Investments and the B Percentage
        Lessor Investments, as applicable.

       

      ARTICLE
        VII.  

       

      

       

      REPRESENTATIONS
        AND WARRANTIES

       

      Section
        7.01  Company
        Representations and Warranties.
        The
        Company (and, by execution and delivery of the Guaranty, the Guarantor)
        represents and warrants to each Person who now is or hereafter becomes a
        party
        to this Agreement that:

       

      (a)  Corporate
        Existence and Power.
        The
        Company and the Guarantor are corporations duly incorporated, validly existing
        and in good standing under the laws of the State of Tennessee and Delaware,
        respectively. The Company and the Guarantor are each duly qualified to transact
        business in every jurisdiction where failure to be qualified reasonably could
        be
        expected to have a Material Adverse Effect, and has all corporate powers
        and all
        government authorizations, licenses, consents and approvals required to engage
        in its business and operations as now conducted.

       

      (b)  Corporate
        and Governmental Authorization; No Contravention.
        The
        execution, delivery and performance by the Company of this Agreement and
        by the
        Guarantor of the Guaranty and the other Operative Documents to which each
        of
        them is a party (i) are within its corporate powers, (ii) have been duly
        authorized by all necessary corporate action, (iii) require no action by
        or in
        respect of or filing with, any governmental body, agency or official, other
        than
        filings contemplated by the Operative Documents, (iv) do not contravene,
        or
        constitute a default under, any provision of applicable law or regulation
        or of
        the certificate of incorporation or by-laws of the Company and the Guarantor,
        or
        any judgment, injunction, order, or decree binding upon the Guarantor, the
        Company or any other Subsidiary, (v) do not contravene, or constitute a default
        under, any material agreement or other instrument binding upon the Guarantor,
        the Company or any other Subsidiary, and (vi) do not result in the creation
        or
        imposition of any Lien on any asset of the Guarantor, the Company or any
        other
        Subsidiary or on the Facility, other than as contemplated by the Operative
        Documents.

       

      (c)  Binding
        Effect.
        This
        Agreement and each of the other Operative Documents to which the Company
        or the
        Guarantor is a party constitutes a valid and binding agreement of the Company
        and/or the Guarantor, as applicable, enforceable in accordance with their
        respective terms, provided that the enforceability hereof and thereof is
        subject
        in each case to general principles of equity and to bankruptcy, insolvency
        and
        similar laws affecting the enforcement of creditor’s rights
        generally.

       

      (d)  Financial
        Information.
        

       

      (i)  The
        consolidated balance sheet of the Guarantor
        and the Consolidated Subsidiaries as of December 31, 2005, and the related
        consolidated statements of income, stockholders’ equity and cash flows for the
        Fiscal Year then ended, reported on by PricewaterhouseCoopers LLP, copies
        of
        which have been delivered to the Funding Parties, fairly present in all material
        respects, in conformity with GAAP, the consolidated financial position of
        the
        Guarantor and the Consolidated Subsidiaries as of such date and the consolidated
        results of operations and cash flows for such Fiscal Year.

       

      (ii)  Since
        December 31, 2005, there has been no event, act, condition or occurrence
        having
        a Material Adverse Effect.

       

      (e)  No
        Litigation.
        Except
        as disclosed on Schedule 7.01(e), there is no action, suit or proceeding
        pending, or to the actual knowledge of the Company and the Guarantor, threatened
        in writing, against or affecting the Guarantor, the Company or any other
        Subsidiary before any court or arbitrator or any governmental body, agency
        or
        official which (i) would reasonably be expected to have or cause a Material
        Adverse Effect or (ii) in any manner draws into question the validity of
        or
        could reasonably be expected to impair the ability of the Company or the
        Guarantor to perform its obligations under this Agreement or any of the
        Operative Documents executed by the Company or the Guarantor.

       

      (f)  Compliance
        with ERISA.
        

       

      (i)  Neither
        the Guarantor nor any member of the Controlled Group has incurred any withdrawal
        liability with respect to any Multiemployer Plan under Title IV of ERISA,
        and no
        such liability is expected to be incurred.

       

      (ii)  Neither
        the Guarantor nor any member of the Controlled Group is or has during the
        preceding 6 years been obligated to contribute to any Multiemployer
        Plan.

       

      (g)  Compliance
        with Laws; Payment of Taxes.
        The
        Guarantor, the Company and each other Subsidiary is in compliance with all
        applicable laws, regulations and similar requirements of governmental
        authorities, except where such compliance is being contested in good faith
        through appropriate proceedings or where non-compliance would not have and
        could
        not reasonably be expected to cause a Material Adverse Effect. There have
        been
        filed on behalf of the Guarantor, the Company and each other Subsidiary,
        all
        Federal, state and material local income, excise, property and other tax
        returns
        which are required to be filed by them, except where the failure to file
        has not
        had, and would not reasonably be expected to have, a Material Adverse Effect,
        and all taxes due pursuant to such returns or pursuant to any assessment
        received by or on behalf of the Guarantor, the Company or any other Material
        Subsidiary have been paid or are being contested in good faith or, if unpaid
        and
        uncontested, would not have and could not reasonably be expected to cause
        a
        Material Adverse Effect. The charges, accruals and reserves on the books
        of the
        Guarantor, the Company and each other Material Subsidiary, in respect of
        taxes
        or other governmental charges are, in the opinion of the Company, adequate.
        United States income tax returns of the Guarantor, the Company and each other
        Material Subsidiary which is a U.S. Person have been examined and closed
        through
        the Fiscal Year ended 2002.

       

      (h)  Subsidiaries.
        Each of
        the Subsidiaries other than the Company is duly organized, validly existing
        and
        in good standing under the laws of its jurisdiction of formation, is duly
        qualified to transact business in every jurisdiction where, by the nature
        of its
        business, such qualification is necessary, and has all corporate powers and
        all
        governmental licenses, authorizations, consents and approvals required to
        carry
        on its business as now conducted, except where failure to be qualified or
        to
        have such powers, licenses, authorizations, consents or approvals would not
        have
        and could not reasonably be expected to cause a Material Adverse Effect.
        As of
        the date hereof, the Guarantor has no Subsidiaries except for the Company
        and
        those other Subsidiaries listed on Schedule 7.01(h), which accurately sets
        forth
        each such other Subsidiary’s complete name and jurisdiction of
        incorporation.

       

      (i)  Investment
        Company Act.
        Neither
        the Guarantor nor the Company is an “investment company” within the meaning of
        the Investment Company Act of 1940, as amended.

       

      (j)  [Intentionally
        Omitted].

       

      (k)  Ownership
        of Property; Liens.
        The
        Guarantor, the Company and each of the other Consolidated Subsidiaries has
        title
        to or leasehold or other interests in its material properties sufficient
        for the
        conduct of its business, and none of such property is subject to any Lien
        except
        Permitted Liens.

       

      (l)  No
        Default.
        Neither
        the Guarantor, the Company nor any of the other Subsidiaries is in default
        under
        or with respect to any agreement, instrument or undertaking to which it is
        a
        party or by which it or any of its property is bound which has had or could
        reasonably be expected to have a Material Adverse Effect. No Default or Event
        of
        Default has occurred and is continuing.

       

      (m)  Full
        Disclosure.
        To the
        best of the Company’s knowledge, all written information heretofore furnished by
        the Guarantor or the Company to the Lessor or any Lease Participant for purposes
        of or in connection with this Agreement, any of the Operative Documents,
        or any
        transaction contemplated hereby or thereby is, and all such information
        hereafter furnished by the Guarantor or the Company to the Lessor or any
        Lease
        Participant will be, true, accurate and complete in every material respect
        or
        based on reasonable estimates on the date as of which such information is
        stated
        or certified. The Company has disclosed to the Funding Parties in writing
        any
        and all facts which reasonably could be expected to have or cause a Material
        Adverse Effect.

       

      (n)  Environmental
        Matters.

       

      (i)  Neither
        the Guarantor, the Company nor any other Subsidiary is subject to any
        Environmental Liability which has had or could reasonably be expected to
        have a
        Material Adverse Effect and neither the Guarantor, the Company nor any other
        Subsidiary has been designated as a potentially responsible party under CERCLA
        or under any state statute similar to CERCLA. None of the Properties of the
        Company, the Guarantor or any other Material Subsidiary has been identified
        on
        any current or proposed (i) National Priorities List under 40 C.F.R. § 300, (ii)
        CERCLIS list or (iii) any list arising from a state statute similar to
        CERCLA.

       

      (ii)  No
        Hazardous Materials have been or are being used, produced, manufactured,
        processed, treated, recycled, generated, stored, disposed of, managed or
        otherwise handled at, or shipped or transported to or from the Facility or
        from
        any of the Properties owned by the Company, the Guarantor or any other Material
        Subsidiary or are otherwise present at, on, in or under the Facility or any
        of
        the Properties owned by the Guarantor, the Company or any other Material
        Subsidiary, or, to the best of the actual knowledge of the Company and the
        Guarantor, at or from any adjacent site or facility, except for (A) Hazardous
        Materials such as cleaning solvents, pesticides and other materials used,
        produced, manufactured, processed, treated, recycled, generated, stored,
        disposed of, managed, or otherwise handled in minimal amounts in the ordinary
        course of business in compliance with all applicable Environmental Requirements
        and (B) Hazardous Materials in the form of diesel fuel for purposes of fueling
        generators used to power the Facility, which fuel is stored in above-ground
        storage tanks in compliance with all applicable Environmental
        Requirements.

       

      (iii)  The
        Guarantor, the Company and each of the other Material Subsidiaries has procured
        all Environmental Authorizations necessary for the conduct of its business,
        and
        is in compliance with all Environmental Requirements in connection with the
        operation of their respective Properties and their respective businesses,
        except
        where the failure to procure such authorizations or be in compliance has
        not had
        and could not reasonably be expected to have a Material Adverse
        Effect.

       

      (iv)  Except
        to
        the extent specified on Schedule 7.01(n), (a) there are no Hazardous Materials
        on the Facility, other than minimal amounts of cleaning solvents, pesticides
        and
        other similar materials used, produced, manufactured, processed, treated,
        recycled, generated, stored, disposed, managed, or otherwise handled in the
        ordinary course of business or in management or maintenance of the Facility,
        (b)
        no Hazardous Material has migrated from the Facility to, upon, about or beneath
        other properties, (c) no Hazardous Material has migrated or threatened to
        migrate from other properties to, upon, about or beneath the Facility, and
        (d)
        all Hazardous Materials or solid wastes generated at the Facility have at
        all
        times been transported, treated and disposed of in compliance with Environmental
        Requirements.

       

      (v)  Except
        to
        the extent specified on Schedule 7.01(n), (a) there is not, nor has there
        been,
        constructed, placed, deposited, stored, disposed of or located on the Facility
        any asbestos in any form, (b) no underground improvements, including treatment
        or storage tanks, pumps, or water wells, are or have been located on the
        Facility, (c) there are no polychlorinated biphenyls (PCBs) or transformers,
        capacitors, ballasts, machinery, fixtures or other equipment which contain
        PCBs
        constructed, placed, deposited, stored, disposed of or located on the Facility,
        (d) the uses and activities of, on or relating to the Facility have at all
        times
        complied in all material respects with all Environmental Requirements, and
        the
        use which the Guarantor and/or the Company, and their Affiliates, Subsidiaries
        and/or Sublessees make of the Facility will not result in the disposal or
        other
        Environmental Release of any Hazardous Material, (e) the Company or the
        Guarantor has obtained for the Facility all permits necessary under applicable
        Environmental Requirements, and (f) the Facility has not been, and is not
        now,
        listed on CERCLIS, the Environmental Protection Agency’s list of violating
        facilities established pursuant to the Clean Water Act or the National
        Priorities List established pursuant to CERCLA.

       

      (vi)  Except
        to
        the extent specified on Schedule 7.01(n), (a) there exists no judgment, decree,
        order, writ or injunction outstanding, or litigation, action, suit, claim
        (including citation or directive) or proceeding pending or, to the knowledge
        of
        the Guarantor, the Company or any of the other Material Subsidiaries,
        threatened, relating to the ownership, use, maintenance or operation of the
        Facility by any person or entity, or arising from any alleged violation of
        Environmental Requirements with respect to the Facility, or any alleged
        liability for Environmental Damages with respect to the Facility, (b) there
        are
        no existing facts or conditions that could give rise to any such violation
        or
        liabilities, (c) there have been no written or, to the knowledge of the
        Guarantor, the Company or any of the other Material Subsidiaries, oral reports
        of environmental investigations, audits, studies, tests, reviews or other
        analyses conducted by or which have been presented to or are in the possession
        of the Guarantor, the Company, or any of the other Material Subsidiaries,
        relating to the Facility, which have not been delivered to the Lessor and
        (d)
        neither the Guarantor or the Company nor, to the knowledge of the Guarantor
        and
        Company, any of the other Material Subsidiaries, any other person or entity
        has
        received any notice or other communication concerning any alleged violation
        of
        Environmental Requirements, whether or not corrected to the satisfaction
        of the
        appropriate authority, or any notice or other communication concerning alleged
        liability for Environmental Damages in connection with the Facility.

       

      (vii)  From
        the
        date hereof, there shall be no actual or threatened Environmental Release
        of a
        Hazardous Material on or from the Facility caused by the Guarantor, the Company
        or any other Subsidiary.

       

      (viii)  Except
        to
        the extent specified on Schedule 7.01(n), the Company: (a) has obtained all
        permits, licenses, and other authorizations which are required under
        Environmental Requirements in association with the Facility; and (b) will
        be in
        full compliance with all terms and conditions of such required permits,
        licenses, and other authorizations associated with the Facility.

       

      (ix)  No
        permits or licenses are required to be obtained or maintained in connection
        with
        the use, operation, or ownership of the Facility arising from any portion
        of the
        Facility which constitute (i) “wetlands” under any Environmental Requirement, or
        (ii) habitat for species which is deemed to be endangered under any
        Environmental Requirement, nor are there any ongoing or continuing obligations
        regarding any portion of the Facility which constitute wetlands. There are
        no
        species of plants or animals located on any portion of the Facility which
        are
        classified as threatened or endangered under any Environmental Requirement.
        There have been no written or, to the knowledge of the Guarantor and the
        Company
        or any of the other Subsidiaries, oral wetlands delineations conducted by
        or
        which have been presented to or are in the possession of the Guarantor, the
        Company or any of the other Subsidiaries relating to the Facility which have
        not
        been delivered to the Lessor.

       

      (o)  Capital
        Stock.
        All
        Capital Stock, debentures, bonds, notes and all other securities of the
        Guarantor and the Company presently issued and outstanding are validly and
        properly issued in accordance with all applicable laws in all material respects,
        including but not limited to, the “Blue Sky” laws of all applicable states and
        the federal securities laws, except where non-compliance has not had and
        would
        not reasonably be expected to have a Material Adverse Effect. The Guarantor
        owns
        directly or indirectly at least a majority of the issued shares of capital
        stock
        of each of the other Consolidated Subsidiaries (other than the Monet Trust,
        a
        New York trust, in which the Guarantor owns no direct or indirect equity
        interest but which is a Consolidated Subsidiary as a result of the application
        of Financial Interpretation Number 46 issued by the Financial Accounting
        Standards Board). 

       

      (p)  Use
        of
        Proceeds; Margin Stock.
        This
        Agreement constitutes an amendment and restatement of the Original Investment
        Agreement and, among other things, the terms relating to the “Lessor Advances”
made thereunder. All of the proceeds of such “Lessor Advances” were used to
        finance the Facility Cost with respect to the Facility, including the
        enhancements and improvements made thereto and the design, renovation,
        construction and installation thereof and were used only in the manner permitted
        under the Original Lease Documents. The Company is not engaged principally,
        or
        as one of its important activities, in the business of purchasing or carrying
        any Margin Stock, and no part of the proceeds of any such “Lessor Advances” were
        used to purchase or carry any Margin Stock or to extend credit to others
        for the
        purpose of purchasing or carrying any Margin Stock, or be used for any purpose
        which violates, or which is inconsistent with, the provisions of Regulations
        T,
        U or X.

       

      (q)  Insolvency.
        After
        giving effect to the execution and delivery of the Lease, neither the Company
        nor the Guarantor will be “insolvent” within the meaning of such term as used in
§ 101 of Title 11 of the United States Code, Section 2 of the Uniform
        Fraudulent Transfer Act, or any other applicable state law pertaining to
        fraudulent transfers, as amended from time to time, or be unable to pay its
        debts generally as such debts become due, or have an unreasonably small capital
        to engage in any business or transaction, whether current or
        contemplated.

       

      (r)  Facility
        Plan.
        In all
        material respects, the Facility was constructed prior to the Restatement
        Closing
        Date in compliance with, and in accordance with, the Facility Plan. There
        are no
        agreements, instruments, licenses or other rights necessary to own, operate,
        lease or use the Facility, other than the Applicable Permits, the documents
        and
        instruments comprising the Facility Plan, and the Operative Documents; and
        renovation, construction, ownership, operation, leasing or use of the Facility
        by the Company (and after the expiration or termination of the Lease, the
        renovation, construction, ownership, operation, leasing or use of the Facility
        by the Lessor or its successors or assigns) does not and will not infringe
        on,
        or otherwise violate, any patents, patent applications, trademarks (whether
        registered or not), trademark applications, trade names, proprietary computer
        software, or copyrights of any Person.

       

      (s)  Boundaries;
        Encroachment; Etc.
        The
        Facility is situated wholly within the boundary lines of the Site and does
        not
        encroach upon any contiguous or adjoining Property (other than those portions
        of
        the Facility for which the Lessor has the right to locate and operate such
        portions pursuant to use or operating agreements); and the Facility does
        not
        violate any other easements, rights-of-way, licenses or other agreements
        affecting the Site.

       

      (t)  Anti-Terrorism
        Laws.

       

      (i)  General.
        None of the Guarantor, the Company, or their Affiliates is in violation of
        any
        Anti-Terrorism Law or engages in or conspires to engage in any transaction
        that
        evades or avoids, or has the purpose of evading or avoiding, or attempts
        to
        violate, any Anti-Terrorism Law.

       

      (ii)  Executive
        Order No. 13224. None of the Guarantor, the Company, or the their Affiliates
        is
        any of the following (each a “Blocked
        Person”):

       

      
        	 	
                (A)
                  

              	
                a
                  Person owned or controlled by, or acting for or on behalf of, any
                  Person
                  that is listed in the annex to, or is otherwise subject to the
                  provisions
                  of, Executive Order No. 13224;

              

      

       

      
        	 	
                (B)
                  

              	
                a
                  Person or entity with which any bank or other financial institution
                  is
                  prohibited from dealing or otherwise engaging in any transaction
                  by any
                  Anti-Terrorism Law;

              

      

       

      
        	 	
                (C)
                  

              	
                a
                  Person or entity that commits, threatens or conspires to commit
                  or
                  supports “terrorism” as defined in Executive Order No.
                  13224;

              

      

       

      
        	 	
                (D)
                  

              	
                a
                  Person or entity that is named as a “specially designated national” on the
                  most current list published by the U.S. Treasury Department Office
                  of
                  Foreign Asset Control at its official website or any replacement
                  website
                  or other replacement official publication of such list;
                  or

              

      

       

      
        	 	
                (E)
                  

              	
                a
                  Person or entity who is affiliated with a Person or entity listed
                  above.

              

      

       

      (iii)  None
        of
        the Guarantor, the Lessee, or their Affiliates (i) conducts any business
        or
        engages in making or receiving any contribution of funds, goods or services
        to
        or for the benefit of any Blocked Person or (ii) deals in, or otherwise engages
        in any transaction relating to, any property or interests in property blocked
        pursuant to Executive Order No. 13224.

       

      ARTICLE
        VIII.  

       

      

       

      COVENANTS

       

      The
        Company (and, by execution and delivery of the Guaranty, the Guarantor)
        covenants and agrees with the Lessor and each Lease Participant to comply
        with
        the following covenants until either (i) the Facility has been purchased
        by the
        Company (or one of its Affiliates) for the Purchase Price or (ii) the Lease
        has
        been terminated, the Facility has been returned to the Lessor and the
        Termination Value or the Final Rent Payment, as the case may be, and all
        other
        amounts payable under the Lease and the other Operative Documents upon such
        occurrence have been paid in full:

       

      Section
        8.01  Information.
        The
        Guarantor will deliver to the Lessor and each of the Lease
        Participants:

       

      (a)  as
        soon
        as available and in any event within 95 days after the end of each Fiscal
        Year,
        a copy of the unaudited Annual Statement of the Company, and a consolidated
        balance sheet of the Guarantor and the Consolidated Subsidiaries as of the
        end
        of such Fiscal Year and the related consolidated statements of income,
        shareholders’ equity and cash flows for such Fiscal Year, setting forth in each
        case in comparative form the figures for the previous fiscal year, all certified
        by PricewaterhouseCoopers LLP or other independent public accountants of
        nationally recognized standing, with such certification to be free of exceptions
        and qualifications not reasonably acceptable to the Majority Funding Parties;
        

       

      (b)  as
        soon
        as available and in any event within 50 days after the end of each of the
        first
        3 Fiscal Quarters of each Fiscal Year, a consolidated balance sheet of the
        Guarantor and the Consolidated Subsidiaries as of the end of such Fiscal
        Quarter
        and the related statement of income and statement of cash flows for such
        Fiscal
        Quarter and for the part of the Fiscal Year ended at the end of such Fiscal
        Quarter, setting forth in each case in comparative form the figures for the
        corresponding Fiscal Quarter and the corresponding portion of the previous
        Fiscal Year, all certified (subject to normal year-end adjustments) as to
        fairness of presentation, GAAP and consistency by the chief financial officer
        or
        the chief accounting officer of the Guarantor;

       

      (c)  simultaneously
        with the delivery of each set of financial statements referred to in paragraphs
        (i) and (ii) above, a certificate, substantially in the form of Exhibit
        E (a
        “Compliance
        Certificate”),
        of
        the chief financial officer or the chief accounting officer of the Guarantor
        (x)
        setting forth in reasonable detail the calculations required to establish
        whether the Guarantor was in compliance with the requirements of Section
        8.04,
        Section 8.19 and Sections 8.24 through 8.27, inclusive, on the date of such
        financial statements, (y) stating whether any Default exists on the date
        of such
        certificate and, if any Default then exists, setting forth the details thereof
        and the action which the Guarantor is taking or proposes to take with respect
        thereto and (z) certifying that the Debt Rating as of the most recent
        Performance Pricing Determination Date has not changed from the prior
        Performance Pricing Determination Date, or if it has changed, setting forth
        such
        changed Debt Rating, and the change in the Applicable Margin in effect as
        a
        result thereof;

       

      (d)  simultaneously
        with the delivery of each set of annual financial statements referred to
        in
        paragraph (i) above, a statement of the firm of independent public accountants
        which reported on such statements to the effect that nothing has come to
        their
        attention to cause them to believe that any Default existed on the date of
        such
        financial statements;

       

      (e)  promptly
        upon the mailing thereof to the shareholders of the Guarantor generally,
        copies
        of all financial statements, reports and proxy statements so
        mailed;

       

      (f)  promptly
        upon the filing thereof, copies of all Forms 10Q, 10K and 8K (other than
        earnings press releases) which the Guarantor shall have filed with the
        Securities and Exchange Commission;

       

      (g)  if
        and
        when any member of the Controlled Group (x) gives or is required to give
        notice
        to the PBGC of any “reportable event” (as defined in Section 4043 of ERISA) with
        respect to any Plan which might constitute grounds for a termination of such
        Plan under Title IV of ERISA, or knows that the plan administrator of any
        Plan
        has given or is required to give notice of any such reportable event, a copy
        of
        the notice of such reportable event given or required to be given to the
        PBGC;
        (y) receives notice of complete or partial withdrawal liability under Title
        IV
        of ERISA, a copy of such notice; or (z) receives notice from the PBGC under
        Title IV of ERISA of an intent to terminate or appoint a trustee to administer
        any Plan, a copy of such notice; 

       

      (h)  promptly,
        and, in any event, within 5 Business Days after the Company or the Guarantor
        becomes aware of any Default or Event of Default, a certificate of the chief
        financial officer or the chief accounting officer of the Company or the
        Guarantor setting forth the details thereof and the action which the Company
        or
        the Guarantor is taking or proposes to take with respect thereto;

       

      (i)  promptly
        upon becoming aware of the occurrence of either a Loss Event or a Casualty
        Occurrence, or any other event or condition requiring notice under either
        Section 7 or Section 8 of the Lease, the Company shall give the Lessor written
        notice thereof, which notice shall specify the damage or loss to the Facility
        in
        reasonable detail;

       

      (j)  promptly
        and in any event within 10 days after learning thereof, notification of any
        change after the Restatement Closing Date of any Debt Rating or any rating
        given
        by S&P or Moody’s with respect to Guarantor or any Subsidiary or A.M. Best
& Co. with respect to any Insurance Subsidiary; and

       

      (k)  from
        time
        to time such additional information regarding the financial position or business
        of the Company, the Guarantor and the Subsidiaries as the Lessor, at the
        request
        of any Funding Party, may reasonably request.

       

      Section
        8.02  Maintenance
        and Inspection of Property, Books and Records.
        The
        Guarantor will cause the Company, and the Company agrees, to keep proper
        books
        of record and account regarding the Lease in accordance with GAAP or SAP,
        as
        applicable, which books shall include copies of all Related Contracts and
        any
        amendments thereto and the book value of the Facility and of each material
        item
        of Property comprising or included in the Facility, and shall provide copies
        of
        the foregoing to the Funding Parties from time to time on request at the
        Company’s expense. The Guarantor will cause the Company, and the Company agrees,
        to (i) keep proper books of record and account in which full, true and correct
        entries in conformity with GAAP and SAP, shall be made of all dealings and
        transactions in relation to its business and activities; and (ii) permit
        representatives of any Funding Party (x) at such Funding Party’s expense and
        upon reasonable notice prior to the occurrence of a Default and (y) at the
        Guarantor’s and the Company’s expense after the occurrence of a Default, to
        visit and inspect the Facility and any of its properties, to examine and
        make
        abstracts from any of its books and records and to discuss its affairs, finances
        and accounts with its officers and independent public accountants. The Guarantor
        and the Company agree to cooperate and assist in such visits and inspections,
        in
        each case at such reasonable times and as often as may reasonably be
        desired.

       

      Section
        8.03  Related
        Contracts.
        The
        Company, either in its capacity as Lessee under the Lease or as agent for
        the
        Lessor, will comply with, maintain execution counterparts of, and promptly
        upon
        request by the Lessor from time to time deliver copies of, or after the
        occurrence of an Event of Default, originals of, all Related
        Contracts.

       

      Section
        8.04  Consolidations,
        Mergers and Sales of Assets.
        The
        Guarantor and the Company will not, nor will the Guarantor or the Company
        permit
        any other Subsidiary to, consolidate or merge with or into, or sell, lease
        or
        otherwise transfer all or any substantial part of its assets to, any other
        Person, provided
        that
        (a) the
        Guarantor, or the Company or a Subsidiary may merge with another Person if
        (i)
        such Person was organized under the laws of the United States of America
        or one
        of its states, (ii) the Company, the Guarantor or a Subsidiary is the
        corporation surviving such merger (provided that in any merger of the Guarantor
        or the Company and a Subsidiary, the Guarantor or the Company shall be the
        corporation surviving such merger) and (iii) immediately after giving effect
        to
        such merger, no Default shall have occurred and be continuing, (b) Subsidiaries
        (other than the Company) may merge with one another or into the Company or
        the
        Guarantor, (c) the foregoing limitation on the sale, lease or other transfer
        of
        assets shall not prohibit sales of investment assets in the ordinary course
        of
        business, and (d) the foregoing limitation on merger and consolidation and
        the
        sale, lease or other transfer of assets shall not prohibit, during any Fiscal
        Quarter, a merger, consolidation or transfer of assets (in a single transaction
        or in a series of related transactions) unless the aggregate assets that
        are the
        subject of such merger or consolidation or to be so transferred, when combined
        with all other assets transferred (including as the result of a merger or
        consolidation) during such Fiscal Quarter and the immediately preceding 3
        Fiscal
        Quarters, constituted more than 15% of Consolidated Total Assets at the end
        of
        the most recent Fiscal Year.

       

      Section
        8.05  Maintenance
        of Existence.
        The
        Guarantor and the Company shall, and the Guarantor and the Company shall
        cause
        each other Material Subsidiary to, maintain its existence and carry on the
        major
        part of its business in substantially the same manner as such business is
        now
        carried on and maintained, except as permitted by Section 8.04.

       

      Section
        8.06  Dissolution.
        The
        Guarantor and the Company shall not, and the Guarantor and the Company shall
        cause each other Material Subsidiary to not, suffer or permit dissolution
        or
        liquidation either in whole or in part or redeem or retire any shares of
        its own
        stock, except through corporate reorganization to the extent permitted by
        Section 8.04.

       

      Section
        8.07  [Intentionally
        Omitted].
        

       

      Section
        8.08  Compliance
        with Laws; Payment of Taxes.
        The
        Guarantor and the Company shall, and the Company shall cause each other
        Subsidiary to, comply with applicable laws (including but not limited to
        ERISA),
        regulations and similar requirements of governmental authorities (including
        but
        not limited to PBGC), except where the necessity of such compliance is being
        contested in good faith through appropriate proceedings or where non-compliance
        would not have and could not reasonably be expected to cause a Material Adverse
        Effect. The Guarantor and the Company shall, and the Guarantor and the Company
        shall cause each other Material Subsidiary to, pay, prior to the date on
        which
        penalties attach thereto, all taxes, assessments, governmental charges, claims
        for labor, supplies, rent and other obligations which, if unpaid, might become
        a
        Lien against the Facility or against Property of the Guarantor, the Company
        or
        any other Material Subsidiary, except for liabilities being contested in
        good
        faith and against which, if requested by the Lessor,
        the
        Guarantor, the Company or such other Subsidiary will set up reserves in
        accordance with GAAP and except for Permitted Liens.

       

      Section
        8.09  Insurance.
        The
        Guarantor and the Company shall, and the Guarantor and the Company shall
        cause
        each other Material Subsidiary to, maintain (either in the name of the Lessor,
        the Guarantor or the Company, as applicable), with financially sound and
        reputable insurance companies, insurance on such of its property in at least
        such amounts, and with such deductibles, and against at least such risks
        as are
        usually insured against in the same general area by companies of established
        repute engaged in the same or similar businesses. Without limitation of the
        foregoing, the Company shall maintain or cause to be maintained, with Permitted
        Insurers, insurance with respect to the Facility and its business in connection
        therewith of the types and in the amounts specified in the Lease. The Company
        will deliver or cause to be delivered to the Lessor promptly upon request
        of the
        Lessor, and in any event on or prior to January 1st of each calendar year,
        commencing with January 1, 2007, a certificate by a firm of independent
        insurance brokers or consultants chosen by the Company and acceptable to
        the
        Lessor setting forth the insurance or self-insurance obtained pursuant to
        the
        Lease, including, without limitation, the amounts thereof, the names of the
        insurers and the property, hazards and risks covered thereby, and certifying
        that the same comply with the requirements of the Lease, that all premiums
        then
        due and payable thereon have been paid and that the same are in full force
        and
        effect, that the Lessor has been named as additional insured and loss payee,
        as
        its interests may appear, under each such policy, and is not liable for payment
        of premiums thereunder, that such policies may not be cancelled without at
        least
        30 days prior notice to the Lessor with an opportunity to cure any default
        thereunder. The Lessor shall be entitled to rely on such reports without
        further
        investigation of the facts and circumstances set forth therein.

       

      Section
        8.10  Maintenance
        of Property.
        The
        Company shall maintain and preserve the Facility in accordance with the
        requirements of the Lease. The Guarantor and the Company shall maintain and
        preserve all of their other properties and assets, in good condition, repair
        and
        working order, ordinary wear and tear excepted, except to the extent of any
        failure which would not have and could not reasonably be expected to cause
        a
        Material Adverse Effect.

       

      Section
        8.11  Environmental
        Notices.
        The
        Company shall furnish to the Lessor prompt written notice of all Environmental
        Liabilities, pending or threatened Environmental Proceedings, Environmental
        Notices, Environmental Judgments and Orders, and Environmental Releases at,
        on,
        in, under or in any way affecting the Facility or any of the Properties of
        the
        Guarantor, the Company or any other Material Subsidiary, or any adjacent
        property, except, as to such Properties other than the Facility, as to matters
        which would not have and could not reasonably be expected to cause a Material
        Adverse Effect, and all facts, events, or conditions actually known to the
        Company that could reasonably be expected to lead to any of the
        foregoing.

       

      Section
        8.12  Environmental
        Matters.
        The
        Guarantor and the Company shall not, and the Guarantor and the Company shall
        cause each other Material Subsidiary to not, and shall not permit any Third
        Party to, use, produce, manufacture, process, treat, recycle, generate, store,
        dispose of, manage at, or otherwise handle, or ship or transport to or from
        the
        Facility or the Properties of the Guarantor, the Company or any Material
        Subsidiary any Hazardous Materials except for (a) Hazardous Materials such
        as
        cleaning solvents, pesticides and other similar materials used, produced,
        manufactured, processed, treated, recycled, generated, stored, disposed of,
        managed, or otherwise handled in minimal amounts in the ordinary course of
        business or of management or maintenance of the Facility or such Properties
        in
        material compliance with all applicable Environmental Requirements, except
        in
        each case, as to such Properties other than the Facility, as to matters which
        would not have and could not reasonably be expected to cause a Material Adverse
        Effect, and (b) Hazardous Materials in the form of diesel fuel for purposes
        of
        fueling generators to power the Facility, which fuel is stored in above-ground
        storage tanks in compliance with all applicable Environmental
        Requirements.

       

      Section
        8.13  Environmental
        Release.
        The
        Company agrees that upon the occurrence of an Environmental Release at or
        on the
        Facility or any of the Properties of the Guarantor, the Company or any Material
        Subsidiary it will act immediately to investigate the extent of, and to take
        appropriate remedial action to eliminate, such Environmental Release, whether
        or
        not ordered or otherwise directed to do so by any Environmental Authority,
        except, as to such Properties other than the Facility, as to matters which
        would
        not have and could not reasonably be expected to cause a Material Adverse
        Effect.

       

      Section
        8.14  Transactions
        with Affiliates.
        Neither
        the Guarantor, nor the Company, nor any of the other Material Subsidiaries
        shall
        enter into, or be a party to, any transaction with any Affiliate of the
        Guarantor, the Company or such other Material Subsidiary (which Affiliate
        is not
        the Guarantor or the Company or a Wholly Owned Subsidiary), except (a) as
        permitted by law and in the ordinary course of business and pursuant to
        reasonable terms which are no less favorable to Guarantor, the Company or
        such
        other Material Subsidiary than would be obtained in a comparable arm’s length
        transaction with a Person which is not an Affiliate and (b) any such transaction
        that could not reasonably be expected to have a Material Adverse
        Effect.

       

      Section
        8.15  Further
        Assurances.
        The
        Guarantor and the Company will cure promptly any defects in the due execution
        and delivery by it of the Operative Documents, including this Agreement.
        The
        Guarantor and the Company at their expense will promptly execute and deliver
        to
        the Lessor upon request all such other and further documents, agreements
        and
        instruments in compliance with or accomplishment of the covenants and agreements
        of the Guarantor and the Company in the Operative Documents, including this
        Agreement, or to further evidence and more fully describe the collateral
        relating to the Facility intended as security for the Lessor Investments
        and the
        Lease Participant Investments, or to correct any item that the Company and
        the
        Lessor agree constitutes an omission or error in the Operative Documents,
        or
        more fully to state the existing security obligations set out herein or in
        any
        of the Operative Documents, or to perfect, protect or preserve any Liens
        created
        pursuant to any of the Operative Documents, or to make any recordings, to
        file
        any notices, or obtain any consents required by the terms of the Operative
        Documents, all as may be necessary or appropriate in connection therewith.
        

       

      Section
        8.16  Compliance
        with Certain Documents, Permits, Etc.
        The
        Company will perform and observe its obligations under the agreements and
        instruments comprising the Facility Plan and all Applicable Permits. The
        Company, at its expense and as Lessee under the Lease or as agent for the
        Lessor, will obtain, preserve, protect and maintain in effect all Applicable
        Permits.

       

      Section
        8.17  Maintenance;
        Etc.
        The
        Company shall, at its expense and as Lessee under the Lease or as agent for
        the
        Lessor, preserve, protect and maintain in accordance with prudent industry
        practices their rights in and to the Applicable Permits used in the ordinary
        course of business of the Facility that are necessary for and material to
        the
        operation of the Facility; and the Company shall defend and hold harmless
        the
        Lessor and each Lease Participant from and against any cost, liability or
        expense arising from any claim of infringement, misuse or misappropriation
        of
        any of the foregoing.

       

      Section
        8.18  [Intentionally
        Omitted].

       

      Section
        8.19  Liens,
        Etc.
        The
        Guarantor and the Company shall not, and the Guarantor and the Company shall
        cause each other Material Subsidiary to not, create, assume or suffer to
        exist,
        any Liens upon any Property now owned or hereafter acquired by it or upon
        the
        Facility, except Permitted Liens.

       

      Section
        8.20  Facility
        Plan.
        The
        Company shall not under any circumstance undertake to operate or use the
        Facility except in accordance in all material respects with the Facility
        Plan
        and except for the Permitted Use.

       

      Section
        8.21  Change
        in Fiscal Year.
        The
        Guarantor and the Company shall not, and the Guarantor and the Company shall
        cause each other Consolidated Subsidiary to not, change its Fiscal Year without
        the consent of the Lessor (acting at the direction of the Majority Funding
        Parties).

       

      Section
        8.22  Intentionally
        Omitted.

       

      Section
        8.23  Restrictions
        on Ability of Subsidiaries to Pay Dividends.
        Except
        in accordance with any applicable regulatory requirements, the Company shall
        not, and the Guarantor and the Company shall not permit any Material Subsidiary
        to, directly or indirectly, create or otherwise cause or suffer to exist
        or
        become effective any encumbrance or restriction not in existence on the
        Restatement Closing Date on the ability of the Company or any such other
        Subsidiary to (i) pay any dividends or make any other distributions on its
        Capital Stock or any other interest or (ii) make or repay any loans or advances
        to the Guarantor, the Company or the other direct parent of such
        Subsidiary.

       

      Section
        8.24  Adjusted
        Consolidated Net Worth.
        The
        Guarantor will maintain at all times Adjusted Consolidated Net Worth equal
        to
        not less than the sum of (i) $1,400,000,000 plus (ii) 25% of the Guarantor’s
        cumulative Consolidated Net Income, if positive, earned after December 31,
        2003,
        through the last day of the most recent fiscal quarter or year, as applicable,
        for which statements were delivered or required to have been delivered to
        the
        Lessor pursuant to Section 8.01(a) or (b), taken as one accounting period,
        minus
        (iii) the Guarantor’s consolidated allowance for potential future losses on
        investments at the end of such fiscal quarter.

       

      Section
        8.25  Ratio
        of Adjusted Consolidated Indebtedness to Consolidated
        Capitalization.
        The
        Guarantor will maintain at all times a ratio of Adjusted Consolidated
        Indebtedness to Consolidated Capitalization of not more than 0.4 to
        1.00.

       

      Section
        8.26  Ratio
        of Unconsolidated Cash Inflow Available for Interest Expense to Adjusted
        Consolidated Interest Expense.
        The
        Guarantor will maintain, for each fiscal quarter, a ratio of Unconsolidated
        Cash
        Inflow Available for Interest Expense to Adjusted Consolidated Interest Expense,
        in each case calculated for such fiscal quarter, of not less than 2.00 to
        1.00.

       

      Section
        8.27  Company’s
        Total Adjusted Capital.
        The
        Company will maintain at all times Total Adjusted Capital in an amount not
        less
        than 4.0 times the Company’s Authorized Control Level Risk-Based Capital. As
        used herein the terms “Total
        Adjusted Capital”
and
        “Authorized
        Control Level Risk-Based Capital”
have
        the meanings attributed thereto in the Risk-Based Capital (RBC) for Life
        and/or
        Health Insurers Model Act adopted by the NAIC in December 2000, as the same
        may
        be modified, supplemented or amended from time to time.

       

      Section
        8.28  Restricted
        Payments.
        The
        Guarantor will not declare or make any Restricted Payment during any Fiscal
        Year
        unless it has first provided for payment of all current principal payments
        on
        long-term Indebtedness; provided,
        that
        after giving effect to the payment of any such Restricted Payments, no Default
        shall be in existence or be created thereby.

       

      Section
        8.29  Anti-Terrorism
        Laws.
        Neither
        the Guarantor nor the Company shall, nor shall they permit any of their
        respective Subsidiaries to, (i) conduct any business or engage in any
        transaction or dealing with any Blocked Person, including the making or
        receiving any contribution of funds, goods or services to or for the benefit
        of
        any Blocked Person; (ii) deal in, or otherwise engage in any transaction
        relating to, any property or interests in property blocked pursuant to Executive
        Order No. 13224; or (iii) engage in on conspire to engage in any transaction
        that evades or avoids, or has the purpose of evading or avoiding, or attempts
        to
        violate, any of the prohibitions set forth in Executive Order No. 13224,
        the USA
        Patriot Act, or any other Anti-Terrorism Law. Each of the Guarantor and the
        Company shall deliver to the Lessor, the Administrative Agent, and Lease
        Participants any certification or other evidence requested from time to time
        in
        the Agent’s sole discretion confirming such Person’s compliance with this
        Section.

       

      Section
        8.30  Company
        as Agent of Lessor With Respect to the Facility.
        

       

      (a)  Termination
        of Original Agency Agreement; Continuing Services.
        The
        parties hereto acknowledge and agree that, pursuant to the Original Lease
        Agreement, the Company, as the Lessor’s agent thereunder, undertook certain
        responsibilities and obligations with respect to the design, acquisition,
        construction, fit up, maintenance, and operation of the Facility. Given that
        the
        initial construction of the Facility has been completed, all parties hereto,
        and
        the Company and the Lessor in particular, hereby agree that the Original
        Agency
        Agreement is terminated (other than with respect to the terms thereof which,
        by
        their terms, survive such termination); provided, however, that the Company
        agrees that it shall continue to provide certain services as provided below
        and
        elsewhere in the other Operative Documents on the terms set forth
        below.

       

      (b)  Certain
        Services.
        From
        the date on which the Lease terminates as provided therein, including any
        Lease
        Termination Date or Cancellation Date, through the date provided in Section
        8.30(n), the Company hereby agrees to provide and perform, or cause to be
        provided or performed, all services, labor, supervision, management,
        maintenance, repairs, common facilities and consumables necessary for the
        operation of the Facility for the Permitted Use, in accordance with all
        Governmental Requirements and Insurance Requirements and within the capability
        set forth in the Facility Plan, including, without limitation:

       

      (i)  To
        cause
        all contracts and other agreements, including without limitation all Related
        Contracts, entered into by the Company on behalf of the Lessor to be assignable,
        including, without limitation, the right to be subject to the Security
        Instruments;

       

      (ii)  To
        avoid
        purchasing Property from or entering into any agreement with its Affiliates
        in
        connection with the Facility unless upon fair and reasonable terms that are
        not
        less favorable to the Lessor than those which might be obtained in an
        arm's-length transaction between unaffiliated Persons in the same business
        at
        the time such terms are agreed upon;

       

      (iii)  In
        the
        event the Company does not exercise its option to purchase the Facility pursuant
        to Section 15 of the Lease, to attempt to sell the Facility for cash upon
        the
        termination or cancellation of the Lease (subject to the Lessor's prior written
        approval of the terms of the sale), and to grant, bargain, sell, convey or
        contract for the sale or conveyance of the Facility in the name of the Lessor
        in
        connection with the duties in this paragraph;

       

      (iv)  To
        contract with all Vendors and contractors for supplies, equipment, materials
        and
        services, including, without limitation, necessary maintenance work affecting
        the Facility;

       

      (v)  To
        keep
        and maintain proper books and records relating to the accounts of the Facility
        and the book value of the Facility and the Property comprising the
        Facility;

       

      (vi)  To
        pay
        for, exchange or otherwise settle accounts for the acquisition of supplies,
        equipment, materials or services affecting the Facility;

       

      (vii)  To
        ask
        for, demand, collect, recover, and receive, each in the name of the Lessor,
        all
        moneys which may become due and owing by reason of conveyances, whether by
        deed,
        contract, bill of sale or other instruments or to pay for, exchange or otherwise
        settle accounts for the acquisition of supplies, equipment, materials or
        services affecting the Facility; provided however, the Company shall have
        the
        right in its reasonable discretion to settle or waive claims in amounts less
        than $50,000.00;

       

      (viii)  To
        ask
        for, demand, collect, and recover, each in the name of Lessor, any and all
        sums
        that may be due on account of any damage to any of the Facility; 

       

      (ix)  To
        manage
        correspondence and conduct communications with all Governmental Authorities
        with
        regard to matters affecting the Facility, including, but not limited to,
        the
        acquisition of all Permits and satisfaction of all Governmental Requirements
        and
        Insurance Requirements and with regard to rights of way and easements, if
        any,
        affecting the Facility; 

       

      (x)  To
        provide the Lessor with copies of material Related Contracts executed by
        the
        Company as Lessor’s agent or on behalf of the Lessor promptly following such
        execution; and

       

      (xi)  To
        provide such additional services as may be reasonably requested by the Lessor
        for the full and efficient operation of the Facility

       

      (c)  Easements,
        Utilities, Services and Contracts.
        Within
        120 days prior to the Scheduled Lease Termination Date (or immediately if
        the
        Lease terminates on any Cancellation Date or Lease Termination Date which
        is not
        a Scheduled Lease Termination Date), and provided that the Company shall
        not
        have elected to purchase, or purchased, the Facility pursuant to the terms
        of
        the Lease, at all times thereafter for the term of this Agreement, the Company,
        at no cost to the Lessor, shall provide, either directly or indirectly, to
        the
        Lessor, in compliance with all Governmental Requirements (including, without
        limitation, all Environmental Requirements, Environmental Authorizations
        and
        Environment Judgments and Orders and Insurance Requirements), as confirmed
        by
        the Lessor, (i) all rights of ingress and egress, rights-of-way, easements
        (which easements shall be reasonably direct and shall provide for access
        over
        any servient estate created thereby, including the rights to use existing
        transmission lines), access and real property licenses and rights in real
        property over or to the Site, (ii) access to storage, transportation and
        maintenance facilities, fixtures and appurtenances, (iii) an inventory of
        supplies necessary for the full and efficient operation of the Facility,
        and
        (iv) services (whether on- or off-Site, including any shared off-site
        facilities), including, without limitation, water, electricity, heating,
        ventilation, air conditioning, lighting, security, steam, waste water treatment
        and sanitation, receiving and shipping facilities as such rights, licenses,
        easements, services and utilities are or may be necessary for the full and
        efficient operation of the Facility.

       

      (d)  Equipment
        and Other Rights.
        Within
        120 days prior to the Scheduled Lease Termination Date (or immediately if
        the
        Lease terminates on any Cancellation Date or Lease Termination Date which
        is not
        a Scheduled Lease Termination Date), and provided that the Company shall
        not
        have elected to purchase, or purchased, the Facility pursuant to the Lease,
        at
        all times thereafter for the term of this Agreement, the Company shall provide
        to the Lessor, by rent-free lease or other similar arrangement, any and all
        equipment and maintenance tools, and, for a price equal to the Company's
        cost
        therefor if not included in the Facility Cost, all spare parts (including,
        without limitation, rebuilt parts and major components) and maintenance
        equipment not covered by the services provided, or caused to be provided,
        pursuant to the Operative Documents, as are or may be customarily maintained
        on
        the Site by the Company for the operation of the Facility in the manner
        described herein. Within the period set forth above (or immediately in the
        circumstance contemplated above) the Company, in compliance with all
        Governmental Requirements, shall also transfer, or cause to be transferred,
        to
        the Lessor any and all equipment inspection reports and maintenance records
        and
        all licenses and Applicable Permits required to operate the Facility and
        all
        such equipment located on the Site as confirmed by the Lessor. Within the
        period
        set forth above (or immediately in the circumstance contemplated above),
        the
        Company shall provide, or cause to be provided, to the Lessor, by non-exclusive,
        royalty free license or other similar arrangement, rights to all patents,
        patent
        applications, proprietary computer software, operating and other manuals,
        “know-how,” copyrights or other intellectual property (excluding trade names and
        trademarks) as are or may be necessary for the operation of the Facility
        in the
        manner described herein. The Company represents and warrants to the Lessor
        that
        as of the Restatement Closing Date, and at all times thereafter during the
        term
        of this Agreement, the construction, assembly, ownership, use, occupancy,
        maintenance and operation of the Facility and Property included therein does
        not
        and will not cause a violation of any Governmental Requirements or Insurance
        Requirements.

       

      (e)  Cost
        of Services and Rights.

       

      (i)  Any
        and
        all services described in Section 8.30(c) and all easements and other rights
        in
        real property existing or necessary for the full and efficient operation
        of the
        Facility during the term of this Agreement shall be provided (A) to the Lessor
        as specified in Section 8.30(b), and (B) in the case of such easements and
        other
        rights in real property as aforesaid, on the terms set forth in Section
        8.30(e)(ii) to any Person acquiring title or use of the Facility other than
        the
        Lessor.

       

      (ii)  Unless
        otherwise provided herein, any and all services and supplies provided by
        the
        Company pursuant to this Section 8.30 after the Lease Termination Date (or
        any
        earlier date on which the Lease terminates as provided therein) and for so
        long
        as this Agreement remains in effect (i) which are generally commercially
        available shall be priced at fair market value, and on arms-length terms
        and
        conditions subject to applicable provisions of agreements with producers,
        shippers and suppliers and Governmental Requirements, or (ii) which are not
        generally commercially available shall be priced at an amount equal to the
        Company's cost (excluding any profit margin).

       

      (f)  Reversion
        of Rights and Contracts.
        Upon
        payment of the Purchase Price as provided in Section 15 of the Lease: (a)
        the
        various agreements, licenses, Applicable Permits and contracts, including
        without limitation Related Contracts, to be provided hereunder by Company
        to the
        Lessor shall revert to the Company (or be transferred to the Company), (b)
        service contracts with the Company, property rights and licenses granted
        by the
        Company to the Lessor shall terminate or be transferred to the Company, and
        (c)
        third-party service contracts shall be assigned by the Lessor to the Company,
        all the foregoing transfers and assignments to be made without recourse and
        without any representation or warranty whatsoever, other than the absence
        of
“Lessor Liens”, as defined in Section 16(a)(i) of the Lease. Upon the
        termination of the Lease and the failure of the Company, the Guarantor or
        one of
        their Affiliates to purchase the Facility as provided in Section 15 of the
        Lease, all such agreements, Applicable Permits, contracts, property rights
        and
        licenses and Third Party service contracts, including without limitation
        Related
        Contracts, shall remain in place unless terminated by the Lessor.

       

      (g)  Additional
        Support.
        In the
        event that none of the Company, the Guarantor or any of their Affiliates
        purchases the Facility from the Lessor pursuant to the Lease, the parties
        hereto
        agree to negotiate in good faith to provide to the Lessor such support in
        addition to that provided for in this Agreement as the Lessor reasonably
        may
        deem necessary to maintain, use, occupy and operate the Facility for the
        Permitted Use or any other purpose requested by the Lessor. 

       

      (h)  Personnel.
        The
        Company shall at all times employ, or cause to be employed, qualified and
        properly trained personnel to perform the Company's obligations under this
        Section 8.30, and shall pay all wages and benefits required by law or contract.
        The Company shall be responsible for all matters relating to labor relations,
        working conditions, training, employee benefits, safety programs and related
        matters pertaining to such employees. The Lessor shall have the right to
        request
        the removal from the Facility of any personnel reasonably deemed unqualified
        by
        the Lessor.

       

      (i)  Warranties
        and Guarantees.
        The
        Company shall use its best reasonable efforts consistent with good industry
        practices to obtain warranties for the Lessor for parts, equipment, materials
        or
        services provided by third-party suppliers in fulfilling the Company's
        obligations under this Agreement. The Company shall comply with all applicable
        warranties and guarantees presented by Vendors or contractors, and shall
        take no
        action that in any way impairs any rights or claims of the Lessor under this
        Agreement or any Vendor's or other Person's warranty. Without limiting the
        foregoing, the Company shall use spare parts that will not adversely affect
        the
        Lessor's protection or rights under such warranties or guarantees.

       

      (j)  Removal.
        The
        Lessor may at any time, upon 5 days written notice, terminate its engagement
        of
        the Company under this Section 8.30 to maintain and operate the Facility,
        without terminating this Agreement; provided, however, that the Lessor shall,
        upon 2 week's written notice to the Company, be entitled to request the Company
        to resume its duties under this Section 8.30 for the duration of the term
        of
        this Agreement to maintain and operate the Facility and the Company shall
        comply
        with such request.

       

      (k)  Independent
        Contractor Status.
        The
        Lessor acknowledges that the Company, in performing its duties under this
        Section 8.30 to maintain and operate the Facility, is acting as an independent
        contractor and except as otherwise expressly provided by this Agreement,
        none of
        the Lessor, the Administrative Agent, nor the Lease Participants shall have
        the
        right to control the conduct of the Company or its personnel in the proper
        performance of the obligations of the Company under this Section 8.30. The
        Company acknowledges that the Lessor is the owner of the Facility and, as
        such,
        is entitled to control the Facility and its use, subject to the provisions
        of
        this Agreement, the Lease, and the other Operative Documents.

       

      (l)  Support
        Expenses.
        All
        reasonable and necessary costs associated with the continued normal operation,
        preservation and maintenance of the Facility in the manner provided herein
        during the period commencing on the date on which the Lease terminates as
        provided therein, including any Lease Termination Date or Cancellation Date,
        through the date provided in Section 8.30(n) (“Support
        Expenses”)
        shall
        be timely advanced by the Company on behalf of Lessor subject to reimbursement
        as hereafter set forth. All such Support Expenses advanced by the Company
        shall
        be accounted for by the Company and reported to Lessor pursuant to monthly
        written operating reports certified by an authorized officer of the Company.
        The
        Lessor shall reimburse the Company for support expenses actually advanced
        by the
        Company together with simple interest thereon at the Base Rate per annum,
        on the
        earlier to occur of the date following (i) the termination of this Agreement
        in
        accordance with Section 8.30(n), or (ii) the date the Facility is sold by
        or on
        behalf of the Lessor (and if this Agreement is terminated by the Lessor prior
        to
        the sale of the Facility by the Company on behalf of the Lessor, the Lessor
        shall use reasonable commercial efforts to sell the Facility as soon as is
        reasonably practical, taking into account the then existing real estate market
        and the ability to realize sufficient proceeds to pay in full all of the
        Lessor
        Investment, Yield thereon and other amount due and payable under the Lease
        and
        the other Operative Documents). Reimbursement under subsection (i) of this
        Section 8.30(l) shall be reimbursed by the Lessor solely out of available
        excess
        proceeds from the sale of the Facility under Section 15 of the Lease and
        reimbursement under subsection (ii) of this Section 8.30(l) shall be reimbursed
        by the Lessor solely out of available excess proceeds from the sale of the
        Facility by the Lessor as contemplated therein. In no event shall the Lessor
        be
        obligated to reimburse the Company for Support Expenses except to the extent
        of
        available excess proceeds described above. The Company's right to reimbursement
        pursuant hereto above shall at all times and in all respects be subject and
        subordinate to the rights of the Lessor to receive full repayment of the
        Unrecovered Lessor Investments, including Yield thereon. Notwithstanding
        anything to the contrary contained herein, the Company shall not be entitled
        to
        reimbursement for any costs expended or incurred from the Lease Termination
        Date
        or Cancellation Date, as applicable, through the Purchase Closing Date, if
        extended by the Lessor under Section 15(e) of the Lease, in the event that
        the
        Company elects to purchase the Facility and elects to remain in possession
        of
        the Facility pursuant to the license referenced in Section 15(e) of the Lease.
        All such costs shall be the responsibility of the Company and shall represent
        the license fee payable in consideration of the rights afforded under such
        license.

       

      (m)  Standard
        of Care.
        The
        Company shall perform all of its duties and obligations under this Section
        8.30
        in accordance with the standards mandated under Section 7 of the Lease as
        if
        fully set forth herein (which standards are hereby incorporated, mutatis
        mutandis,
        herein
        by reference) and in a good, workmanlike and commercially reasonable manner.
        The
        Company shall exercise such care and in the same manner as a prudent Person
        engaged in the business of managing and operating Property similar to the
        Facility and used in a similar location for the Permitted Use would in the
        advancement and protection of such Person's own economic interests and the
        maximization of such Person's profits therefrom. Maintenance shall be scheduled
        so as to minimize interference with the use, occupation and operation of
        the
        Facility and cost consistent with good industry operating and safety standards
        and all Governmental Requirements and Insurance Requirements.

       

      (n)  Termination
        of the Company’s Obligations Under Section 8.30.
        Except
        as otherwise expressly provided herein, the Company’s obligations under this
        Section 8.30 shall commence on the Restatement Closing Date and shall terminate
        upon the expiration or other termination of the Lease and consummation of
        the
        purchase by the Company or the Guarantor (or an Affiliate thereof) of the
        Facility for the Purchase Price in accordance with the Lease; provided, however,
        that upon the termination of the Lease, and provided that the Company or
        the
        Guarantor (or an Affiliate thereof) shall not have purchased and paid the
        Purchase Price for the Facility in accordance with the terms of the Lease,
        this
        Section 8.30 shall continue in full force and effect until the date the Facility
        is sold to a Person other than the Lessee or any of its Affiliates or any
        earlier written notice from the Lessor of its election to terminate this
        Agreement.

       

      Section
        8.31  Post-Closing
        Matters.
        Within
        twenty days following the Restatement Closing Date, the Company
        will:

       

      (a)  Execute
        and deliver an amendment (in form and substance reasonably satisfactory to
        Lessor) to that certain Reciprocal Easement Agreement dated as of February
        1,
        2000, by and between the Company and WCI, recorded as instrument #200002/0941
        in
        the Probate Court of Jefferson County, Alabama (as the same may have been
        amended, restated, supplemented, or otherwise modified from time to time
        through
        the date of such amendment), so as to extend the easements granted thereunder
        over that portion of the Site which was released prior to the Restatement
        Closing Date in accordance with the Original Lease Documents; and

       

      (b)  Execute
        and deliver an agreement (in form and substance reasonably satisfactory to
        Lessor) pertaining to the existence of, and terms and conditions governing,
        the
        common wall between the Facility and another parcel of real property currently
        owned by Lessee.

       

      ARTICLE
        IX.  

       

      

       

      EVENTS
        OF DEFAULT

       

      Section
        9.01  Events
        of Default.
        The
        occurrence and continuation of any one or more of the following events shall
        constitute an “Event
        of Default.”

       

      (a)  The
        Company, in its own capacity or in the capacity as Lessor’s agent or as Lessee
        under the Lease, shall default in the payment of the principal amount of
        any
        Lessor Investment when due; or default in the payment of any Yield on any
        Lessor
        Investment when due; or default in the payment of any other amounts payable
        by
        it hereunder or under the Operative Documents, to the Funding Parties when
        due
        and the continuance of such default for 5 Business Days thereafter; or default
        in the payment of any other amounts payable hereunder or under any other
        Operative Documents to agents, attorneys and consultants of the Lessor or
        any
        Lease Participant when due and the continuance of such nonpayment for 30
        days
        thereafter; or

       

      (b)  Any
        representation, warranty, certification or statement made by the Guarantor
        or
        the Company in Article VII of this Agreement or in any other Operative Document
        or in any certificate, financial statement or other document delivered pursuant
        to this Agreement or any other Operative Document shall prove to have been
        incorrect or misleading in any material respect when made or reaffirmed (or
        deemed made or reaffirmed); or

       

      (c)  The
        Guarantor or the Company shall fail to observe or perform any covenant or
        agreement contained in clause (iii) of Section 8.01, in clause (ii) of Section
        8.02, or in Sections 8.04 through 8.07 inclusive, or in 8.23 through 8.28,
        inclusive, of this Agreement; or

       

      (d)  The
        Company shall fail to observe or perform any covenant or agreement contained
        or
        incorporated by reference in this Agreement (other than those covered by
        paragraphs (a) and (c) above), or the Guarantor shall fail to observe or
        perform
        any other covenant or agreement contained or incorporated by reference in
        the
        Guaranty, and in either case such failure shall not have been cured within
        30
        days after the earlier to occur of (i) written notice thereof has been given
        to
        the Guarantor and the Company by the Lessor at the request of the Majority
        Funding Parties or (ii) either the Vice President-Investments or the Controller
        (or if no person has such title, any other officer having similar functions,
        regardless of title) of the Guarantor or the Company otherwise becomes aware
        of
        any such failure; or

       

      (e)  A
“Lease
        Event of Default” shall occur, any other default or event of default shall occur
        under any other Operative Document, or any default or event of default shall
        occur under the Revolving Credit Agreement; or 

       

      (f)  The
        Guarantor, the Company or any other Consolidated Subsidiary shall fail to
        make
        any payment in respect of Indebtedness outstanding in an aggregate principal
        amount equal to or greater than $15,000,000 (excluding Indebtedness incurred
        pursuant hereto) after the expiry of any applicable grace period; or

       

      (g)  Any
        other
        event or condition shall occur which (i) results in the acceleration of the
        maturity of Indebtedness (other than Indebtedness which would not constitute
        a
“liability” in accordance with GAAP) outstanding of the Guarantor, the Company
        or any other Consolidated Subsidiary in an aggregate principal amount equal
        to
        or greater than $15,000,000 (including, without limitation, any required
        mandatory prepayment or “put” of such Indebtedness to the Guarantor (other than
        a “put” which is not predicated solely on the basis of a breach or other default
        by the Guarantor, the Company or any other Consolidated Subsidiary), the
        Company
        or any other Consolidated Subsidiary) or (ii) enables (or, with the giving
        of
        notice or lapse of time or both, would enable) the holders of such Indebtedness
        or any Person acting on such holders’ behalf to accelerate the maturity thereof
        (including, without limitation, any required mandatory prepayment or any
        such
“put” of such Indebtedness to the Guarantor, the Company or any other
        Consolidated Subsidiary); or 

       

      (h)  The
        Guarantor, the Company or any other Consolidated Subsidiary shall commence
        a
        voluntary case or other proceeding seeking liquidation, reorganization or
        other
        relief with respect to itself or its debts under any bankruptcy, insolvency
        or
        other similar law now or hereafter in effect or seeking the appointment of
        a
        trustee, receiver, liquidator, custodian or other similar official of it
        or any
        substantial part of its property, or shall consent to any such relief or
        to the
        appointment of or taking possession by any such official in an involuntary
        case
        or other proceeding commenced against it, or shall make a general assignment
        for
        the benefit of creditors, or shall fail generally to pay its debts as they
        become due, or shall take any corporate action to authorize any of the
        foregoing; or

       

      (i)  An
        involuntary case or other proceeding shall be commenced against the Guarantor,
        the Company or any other Consolidated Subsidiary seeking liquidation,
        reorganization or other relief with respect to it or its debts under any
        bankruptcy, insolvency or other similar law now or hereafter in effect or
        seeking the appointment of a trustee, receiver, liquidator, custodian or
        other
        similar official of it or any substantial part of its property, and such
        involuntary case or other proceeding shall remain undismissed and unstayed
        for a
        period of 30 days; or an order for relief shall be entered against the
        Guarantor, the Company or any other Consolidated Subsidiary under the federal
        bankruptcy laws as now or hereafter in effect; or 

       

      (j)  The
        Guarantor, the Company or any member of the Controlled Group shall fail to
        pay
        when due any material amount which it shall have become liable to pay to
        the
        PBGC or to a Plan under Title IV of ERISA; or notice of intent to terminate
        a
        Plan or Plans shall be filed under Section 4041(c) of ERISA by the Company,
        any
        member of the Controlled Group, any plan administrator or any combination
        of the
        foregoing; or the PBGC shall institute proceedings under Title IV of ERISA
        to
        terminate or to cause a trustee to be appointed to administer any such Plan
        or
        Plans or a proceeding shall be instituted by a fiduciary of any such Plan
        or
        Plans to enforce Section 515 or 4219(c)(5) of ERISA and such proceeding shall
        not have been dismissed within 30 days thereafter; or a condition shall exist
        by
        reason of which the PBGC would be entitled to obtain a decree adjudicating
        that
        any such Plan or Plans must be terminated, if the PBGC gives notice of its
        intention to seek or takes any action seeking to obtain such a decree;
        or

       

      (k)  One
        or
        more judgments or orders for the payment of money in an aggregate amount
        in
        excess of $15,000,000 (exclusive of amounts fully covered by insurance) shall
        be
        rendered against the Guarantor, the Company or any other Consolidated Subsidiary
        and such judgment or order shall continue unsatisfied and unstayed for a
        period
        of 45 days; or 

       

      (l)  A
        federal
        tax lien shall be filed against the Guarantor, the Company or any other
        Consolidated Subsidiary under Section 6323 of the Code or a lien of the PBGC
        shall be filed against the Guarantor, the Company or any other Consolidated
        Subsidiary under Section 4068 of ERISA and if in either case the amount involved
        is in an aggregate amount in excess of $15,000,000 and such lien shall remain
        undischarged for a period of 60 days after the date of filing; 

       

      (m)  Any
        of
        the Operative Documents shall cease, for any reason, to be in full force
        and
        effect or the Guarantor or the
        Company shall so assert; or

       

      (n)  A
        Change
        of Control shall occur.

       

      Section
        9.02  Remedies.
        

       

      (a)  Upon
        the
        occurrence and continuation of any Event of Default (other than a Limited
        Recourse Event of Default):

       

      (i)  in
        the
        case of an Event of Default (other than one referred to in Sections 9.01(h)
        or
        (i)), the Lessor may and, upon request of the Majority Funding Parties, shall,
        declare the principal amount of the Unrecovered Lessor Investments and the
        accrued Yield thereon and all other amounts payable by the Company hereunder
        and
        under the other Operative Documents, to be forthwith due and payable, whereupon
        such amounts shall be immediately due and payable without presentment, demand,
        protest, notice of intent to accelerate, notice of acceleration or other
        formalities of any kind, all of which are hereby expressly waived by the
        Company; 

       

      (ii)  in
        the
        case of the occurrence of an Event of Default referred to in Sections 9.01(h)
        or
        (i), the Unrecovered Lessor Investments and the accrued Yield thereon and
        all
        other amounts payable by the Company hereunder and under the other Operative
        Documents shall become automatically immediately due and payable without
        presentment, demand, protest, notice of intent to accelerate, notice of
        acceleration or other formalities of any kind, all of which are hereby expressly
        waived by the Company; and

       

      (iii)  At
        the
        direction of the Majority Funding Parties, Lessor shall take such other action
        and exercise such remedies pursuant to the Operative Documents as are available
        to it under law or in equity.

       

      (b)  Notwithstanding
        Sections 9.02(a)(i) and (ii), the Guarantor or the Company may cure any Default
        or Event of Default under Section 9.01 by paying the Termination Value or
        purchasing the Facility as provided in Section 15(c) of the Lease for the
        Purchase Price.

       

      (c)  No
        Lease
        Participant may initiate or pursue remedies unless and until the Lessor
        initiated remedies against the Facility, the Guarantor or the Company. In
        the
        event the Lessor has initiated remedies, the Lease Participants may join
        in
        enforcement of remedies against the Facility, the Guarantor or the
        Company.

       

      (d)  If
        the
        Majority Funding Parties shall have instructed the Lessor to sell or foreclose
        on the Facility and other collateral in accordance with the Security Instruments
        and the Lease, then (i) the net cash sales or foreclosure proceeds to be
        received must at least equal an amount equal to the Funded Amount, plus all
        other amounts then owing to the Funding Parties hereunder and under the other
        Operative Documents and (ii) the Majority Funding Parties may not, without
        the
        consent of the Lessor, instruct the Lessor to sell the Facility or any portion
        thereof for an amount less than sufficient to pay in full the Funded Amount
        pursuant to Section 3.05, or instruct the Lessor to foreclose on the Facility
        in
        accordance with the Security Instruments and the Lease for a cash bid which
        is
        not sufficient to pay in full the Funded Amount. 

       

      (e)  The
        Funding Parties agree not to exercise their remedies against the Facility
        under
        the Security Instruments unless an Event of Default (other than a Limited
        Recourse Event of Default) has occurred and is continuing hereunder and the
        Lease has terminated and the Guarantor or the Company (or any Affiliate thereof)
        shall not have purchased the Facility on or before the Cancellation
        Date.

       

      (f)  Any
        other
        term or provision hereof, or in any other Operative Document, to the contrary
        notwithstanding, upon the occurrence of an Event of Default which constitutes
        a
        Limited Recourse Event of Default, the Lessor may, and upon request of the
        Majority Funding Parties, shall, notify the Company of its election to terminate
        the Lease in accordance with Sections 2 and 15 of the Lease, at which time
        a
        Termination Event shall be deemed to have occurred and the Lessor and the
        Lease
        Participants shall have the rights with respect thereto as set forth in the
        Lease and the other Operative Documents. For purposes of certainty, nothing
        herein shall prohibit the Lessor and the Lease Participants from exercising
        remedies under the Lease and under 9.02(a) in connection with the occurrence
        of
        an Event of Default which occurs after a Termination Event and the undertaking
        of actions in response thereto.

       

      ARTICLE
        X.  

       

      

       

      THE
        LESSOR AS SERVICING AGENT FOR THE LEASE PARTICIPANTS; THE ADMINISTRATIVE
        AGENT

       

      Section
        10.01  Lessor
        as Servicing Agent.

       

      (a)  Appointment,
        Powers and Immunities.
        Each
        Lease Participant hereby appoints and authorizes the Lessor to take such
        action
        as servicing agent on its behalf and to exercise such powers under this
        Agreement as are delegated to the Lessor by the terms hereof, together with
        such
        powers as are reasonably incidental thereto. As to any matters not expressly
        provided for by this Agreement (including, without limitation, enforcement
        of
        this Agreement or collection of the Lessor Investments), the Lessor shall
        not be
        required to exercise any discretion or take any action, but shall be required
        to
        act or to refrain from acting (and shall be fully protected in so acting
        or
        refraining from acting) upon the instructions of the Majority Funding Parties,
        and such instructions shall be binding upon all Lease Participants; provided, however,
        that
        the Lessor shall not be required to take any action which exposes the Lessor
        to
        personal liability or which is contrary to this Agreement or applicable law.
        The
        Lessor agrees to give to each Lease Participant prompt notice of each notice
        given to it by the Guarantor or the Company pursuant to the terms of this
        Agreement or any of the Operative Documents.

       

      (b)  Reliance
        by Lessor.
        Neither
        the Lessor nor any of its respective directors, officers, agents or employees
        shall be liable for any action taken or omitted to be taken by it or them
        under
        or in connection with this Agreement, except for its or their own gross
        negligence or willful misconduct, or its failure to pay to any Lease Participant
        its Percentage Share of any Rent or other amounts in which such Lease
        Participant has an Ownership Interest which the Lessor actually has received.
        Without limitation of the generality of the foregoing, the Lessor: (a) may
        treat
        any Lease Participant as the owner of its Ownership Interest until the Lessor
        receives and accepts an Assignment and Acceptance entered into by such Lease
        Participant, as assignor, and an Eligible Assignee, as assignee, as provided
        in
        Section 11.06; (b) may consult with legal counsel (including counsel for
        the
        Guarantor or the Company), independent public accountants and other experts
        selected by it and shall not be liable for any action taken or omitted to
        be
        taken in good faith by it in accordance with the advice of such counsel,
        accountants or experts; (c) makes no warranty or representation to any Lease
        Participant and shall not be responsible to any Lease Participant for any
        statements, warranties or representations (whether written or oral) made
        in or
        in connection with this Agreement or any of the other Operative Documents;
        (d)
        shall not have any duty to ascertain or to inquire as to the performance
        or
        observance of any of the terms, covenants or conditions of this Agreement
        or any
        of the other Operative Documents on the part of the Guarantor or the Company
        or
        to inspect the Facility or the property (including the books and records)
        of the
        Guarantor or the Company; (e) shall not be responsible to any Lease Participant
        for the due execution, legality, validity, enforceability, genuineness,
        sufficiency or value of this Agreement, any other Operative Documents or
        any
        other instrument or document furnished pursuant hereto; (f) shall incur no
        liability under or in respect of this Agreement or the Operative Documents
        by
        acting upon any notice, consent, certificate or other instrument or writing
        (which may be by telegram, telecopier, cable or telex) believed by it to
        be
        genuine and signed or sent by the proper party or parties; and (g) shall
        act or
        refrain from acting, and shall be fully protected in acting or refraining
        from
        acting, in selling or otherwise disposing of the Facility in accordance with
        the
        Security Instruments, upon receiving instructions signed by the Majority
        Funding
        Parties.

       

      (c)  Defaults.
        The
        Lessor shall not be deemed to have knowledge of the occurrence of a Default
        (other than the non-payment of Rent) unless the Lessor has received notice
        from
        a Lease Participant or the Company specifying such Default and stating that
        such
        notice is a “Notice of Default.” In the event that the Lessor receives such a
        notice of the occurrence of a Default, the Lessor shall give prompt notice
        thereof to the Lease Participants (and shall give each Lease Participant
        prompt
        notice of each such non-payment). The Lessor shall (subject to Section 10.07)
        take such action with respect to such Default as shall be directed by the
        Majority Funding Parties, as provided in Section 10.02, provided that, unless
        and until the Lessor shall have received such directions, the Lessor may
        (but
        shall not be obligated to) take such action, or refrain from taking such
        action,
        with respect to such Default as it shall deem advisable in the best interest
        of
        the Funding Parties.

       

      (d)  Rights
        as a Funding Party.
        With
        respect to its Lessor Commitment and its Ownership Interests, the Lessor
        shall
        have the same rights and powers under this Agreement as any other Funding
        Party
        (except to the extent the rights and obligations of the Lessor as such are
        different from the rights of the Lease Participants as such) and may exercise
        the same as though it were not acting as the agent of the Lease Participants
        as
        provided herein; and the term “Funding Party” or “Funding Parties” shall, unless
        otherwise expressly indicated, include the Lessor in its individual capacity.
        The Lessor and its affiliates may accept deposits from, lend money to, act
        as
        trustee under indentures of, and generally engage in any kind of business
        with,
        the Guarantor, the Company, any of the other Subsidiaries and any Person
        who may
        do business with or own securities of the Guarantor or any of the Subsidiaries,
        all as if the Lessor were not the agent of the Lease Participants pursuant
        hereto and without any duty to account therefor to the Lease
        Participants.

       

      (e)  Indemnification
        by Lease Participants.
        The
        Lease Participants agree to indemnify the Lessor (to the extent not reimbursed
        by the Company), ratably according to their respective Ownership Interests,
        from
        and against any and all liabilities, obligations, losses, damages, penalties,
        actions, judgments, orders, suits, costs, expenses or disbursements of any
        kind
        or nature whatsoever which may be imposed on, incurred by, or asserted against
        the Lessor in any way relating to or arising out of this Agreement or any
        of the
        Operative Documents or any action taken or omitted by the Lessor under this
        Agreement or any of the Operative Documents, provided
        that no
        Lease Participant shall be liable for any portion of such liabilities,
        obligations, losses, damages, penalties, actions, judgments, orders, suits,
        costs, expenses or disbursements resulting from the Lessor’s gross negligence or
        willful misconduct, or its failure to pay to any Lease Participant its
        Percentage Share of any Rent or other amounts in which such Lease Participant
        has an Ownership Interest which the Lessor actually has received. Without
        limitation of the foregoing, each Lease Participant agrees to reimburse the
        Lessor promptly upon demand for its ratable share of any out-of-pocket expenses
        (including reasonable counsel fees) incurred by the Lessor in connection
        with
        the preparation, execution, delivery, administration, modification, amendment
        or
        enforcement (whether through negotiations, legal proceedings, in bankruptcy
        or
        insolvency proceedings, or otherwise) of, or legal advice in respect of rights
        or responsibilities under, this Agreement or the other Operative Documents,
        to
        the extent that the Lessor is not reimbursed for such expenses by the Guarantor
        or the Company.

       

      (f)  Indemnification
        by Lessor.
        Solely
        to the limited extent, if any, monies are received by Lessor from Company
        with
        respect to the Indemnified Risks and without recourse to the Lessor except
        with
        respect to such monies received, the Lessor agrees to indemnify and save
        harmless each other Indemnified Party, from and against all liabilities,
        Liens,
        Taxes, losses, obligations, claims, damages (including, without limitation,
        penalties, fines, court costs and administrative service fees), penalties,
        demands, causes of action, suits, proceedings (including any investigations,
        litigation or inquiries), judgments, orders, sums paid in settlement of claims,
        and costs and expenses of any kind or nature whatsoever, including, without
        limitation, reasonable attorneys’ fees and expenses and all other expenses
        incurred, suffered or realized in connection with investigating, defending
        or
        preparing to defend any cause of action, suit or proceeding (including any
        investigations, litigation or inquiries) or claim which may be incurred by
        or
        asserted against or involve any of them (whether or not any of them is named
        as
        a party thereto) as a result of, arising directly or indirectly out of or
        in any
        way related to any of the Indemnified Risks.

       

      (g)  Non-Reliance
        on Lessor and other Lease Participants.
        Each
        Lease Participant acknowledges that it has, independently and without reliance
        upon the Lessor or any other Lease Participant and based on the financial
        statements referred to in Section 7.01 and such other documents and information
        as it has deemed appropriate, made its own credit analysis and decision to
        enter
        into this Agreement. Each Lease Participant also acknowledges that it will,
        independently and without reliance upon the Lessor or any other Lease
        Participant and based on such documents and information as it shall deem
        appropriate at the time, continue to make its own credit decisions in taking
        or
        not taking action under this Agreement. Except for notices, reports and other
        documents and information expressly required to be furnished to the Lease
        Participants by the Lessor hereunder, the Lessor shall not have any duty
        or
        responsibility to provide any Lease Participant with any credit or other
        information concerning the affairs, financial condition or business of the
        Guarantor, the Company or any affiliates thereof, which may come into the
        possession of the Lessor or any of its affiliates.

       

      (h)  Failure
        to Act.
        The
        Lessor shall in all cases be fully justified in failing or refusing to act
        hereunder or under the Operative Documents unless it shall be indemnified
        to its
        satisfaction by the Lease Participants against any and all liability and
        expenses which may be incurred by it by reason of taking or continuing to
        take
        any such action.

       

      Section
        10.02  Appointment
        of the Administrative Agent.
        

       

      (a)  The
        parties hereto acknowledge and agree that Lessor may, and hereby does, appoint
        the Administrative Agent to undertake and perform on its behalf all of Lessor’s
        administrative and servicing obligations under the Operative Documents,
        including, without limitation, (i) sending and receiving notices by or on
        behalf
        of the Lessor (all of which notices, when delivered by the Administrative
        Agent,
        shall constitute constructive delivery thereof by the Lessor and, when received
        by the Administrative Agent, shall constitute constructive receipt thereof
        by
        the Lessor), (ii) the collection and disbursement of all payments which are
        to
        be made to or from Lessor to any other party (including, without limitation,
        the
        payment of Rent, Supplemental Rent, Yield, payments under the Guaranty, the
        proceeds of any collateral, the proceeds of any right of setoff, and insurance
        or condemnation proceeds), (iii) the receipt, on Lessor’s behalf, of any
        reports, financial statements, and other information required to be delivered
        to
        Lessor under the Operative Documents (including, without limitation, the
        financial statements required to be delivered pursuant hereto, and environmental
        reports), all of which, when received by the Administrative Agent shall
        constitute constructive receipt thereof by the Lessor, (iv) maintaining the
        Register in accordance with Section 11.06(d), (v) delivering notices with
        respect to Yield and the Applicable Margin, and (vi) exercising, to the extent
        requested by Lessor from time to time, all rights and remedies afforded Lessor,
        and on Lessor’s behalf, under the Operative Documents. 

       

      (b)  In
        performing its duties as the Administrative Agent hereunder, the Administrative
        Agent shall be entitled to all of the rights and benefits afforded Lessor
        as
        servicing agent under Section 10.01, all of which are incorporated by reference
        into this Section 10.02 in favor of the Administrative Agent, mutatis
        mutandis,
        including, without limitation, the rights with respect to indemnification
        from
        the Lease Participants, the benefits of any exculpation afforded Lessor under
        Section 10.01, rights with respect the failure or refusal to act, and the
        rights
        as a Funding Party (if the Administrative Agent is or becomes a Funding
        Party).

       

      (c)  Each
        of
        the parties hereto (and the Guarantor by execution and delivery of the Guaranty)
        agrees to abide by the provisions of this Section 10.02 and other provisions
        in
        the Operative Documents in respect of the Administrative Agent’s role and
        function in connection with the administration of the transactions contemplated
        herein and therein by, among other things, making all payments of money (whether
        as Rent, proceeds, or otherwise) which would otherwise be payable to Lessor
        directly to the Administrative Agent and sending all notices which would
        otherwise be sent to Lessor directly to the Administrative Agent.

       

      (d)  Each
        of
        the parties hereto (and the Guarantor by execution and delivery of the Guaranty)
        agrees that (i) notice under any of the Operative Documents delivered to
        the
        Administrative Agent shall constitute constructive receipt thereof by Lessor
        and
        that notice delivered by the Administrative Agent shall constitute in all
        respects notice delivered by the Lessor under the Operative Documents and
        (ii)
        receipt by the Administrative Agent of any payment under the Operative Documents
        which would otherwise be payable to or for Lessor’s account shall constitute
        receipt thereof by the Lessor. 

       

      (e)  The
        Guarantor acknowledges and agrees to the provisions of this Section 10.02
        by its
        execution and delivery of the Guaranty.

       

      ARTICLE
        XI.  

       

      

       

      MISCELLANEOUS

       

      Section
        11.01  Amendments,
        Etc.
        The
        parties hereby agree that (1) no amendment, modification or waiver of any
        provision of this Agreement, and no consent to any departure by the Company
        herefrom, shall be effective against the Company, the Lessor, the Administrative
        Agent, or the Lease Participants unless it shall be in writing and signed
        by the
        Company and the Majority Funding Parties; (2) no amendment, modification
        or
        waiver of any provision of the Guaranty, and no consent to any departure
        by the
        Guarantor therefrom, shall be effective against the Guarantor, the Lessor
        or the
        Lease Participants, unless signed by the Guarantor and the Lessor, with the
        consent of all of the Lease Participants; and (3) no amendment, modification
        or
        waiver of any provision of any other Operative Documents, and no consent
        to any
        departure by the Company or the Guarantor, as applicable, therefrom, shall
        be
        effective against the Guarantor or the Company, as applicable, or the Lessor
        or
        the Lease Participants unless signed by the Persons executing such Operative
        Document, the Guarantor and/or the Company, as applicable, and the Lessor,
        with
        the consent of the Majority Funding Parties; provided, however,
        that:

       

      (a)  no
        such
        amendment, waiver or consent shall, unless in writing and signed by the Company,
        all the Funding Parties, and the Administrative Agent, be effective to (i)
        amend
        this Section 11.01 or (ii) or change the definition of “Final Rent Payment,”
“Termination Value,” or “Purchase Price”;

       

      (b)  no
        such
        amendment, waiver or consent shall, unless in writing and signed by all the
        Funding Parties, be effective to (i) subject any Funding Parties to any
        additional obligation, (ii) reduce or forgive all or any portion of the
        principal of the Lessor Investments or Yield thereon or reduce the rates
        used to
        determine Yield (including, without limitation, the Pricing Schedule), (iii)
        postpone or otherwise change any date fixed for any payment of the principal
        of
        the Lessor Investments or Yield thereon, (iv) change the definition of “Majority
        Funding Parties,” “A Percentage Share,” or “B Percentage Share” or the
        percentage of the aggregate Ownership Interests which shall be required for
        the
        Lessor (or the Administrative Agent on Lessor’s behalf) to take any action under
        this Agreement, (v) except as otherwise permitted in this Agreement or the
        other
        Operative Documents, permit the creation of any Lien (other than Permitted
        Liens) on the Collateral equal to or prior to the interests of the Funding
        Parties or sell or otherwise dispose of any portion of the Collateral or
        release
        any Lien created under the Operative Documents, or (vi) waive the terms of
        any
        payment obligation (whether Yield or Lessor Investments) or amend or modify
        the
        order of application of payments and proceeds; (vii) release the Company
        or any
        surety or guarantor of any of the Company’s obligations or otherwise limit
        recourse to such surety or guarantor; or (v) waive any of the conditions
        specified in Article VI;

       

      (c)  no
        such
        amendment, waiver or consent shall, unless in writing and signed by the Lessor
        and all other Funding Parties, be effective to restrict, limit, or terminate
        the
        rights of, or increase or modify the duties of, Lessor under any Operative
        Document; and

       

      (d)  no
        such
        amendment, waiver or consent shall, unless in writing and signed by the
        Administrative Agent and all of the Funding Parties, be effective to restrict,
        limit, or terminate the rights of, or increase or modify the duties of, the
        Administrative Agent under any Operative Document.

       

      In
        any of
        the foregoing events, any such waiver or consent shall be effective only
        in the
        specific instance and for the specific purpose for which given.

       

      Section
        11.02  Notices.
        Except
        as otherwise provided in Article II or Article V, all notices and other
        communications provided for hereunder shall be in writing (including by
        telecopier and other readable communication) and mailed by certified mail,
        return receipt requested, telecopied or otherwise transmitted or delivered,
        for
        the Guarantor, at 2801 Highway 280 South, Birmingham, Alabama 35223, Attention:
        Lance Black, Telecopier: 205-268-3642, for any party hereto, at its address
        set
        forth under its name on its signature page hereto or, as to a Lease Participant
        that is not a party hereto as of the date hereof, in an Assignment and
        Acceptance, or as to each party at such other address as shall be designated
        by
        such party in a written notice to the other parties. All such notices and
        communications shall, if so mailed, telecopied or otherwise transmitted,
        be
        effective when received, if mailed, or when the appropriate answer back or
        other
        evidence of receipt is given, if telecopied or otherwise transmitted,
        respectively. A notice received by the Lessor (or the Administrative Agent
        on
        Lessor’s behalf) by telephone pursuant to Article II or Article V shall be
        effective if the Lessor (or, if to the Administrative Agent, the Administrative
        Agent) believes in good faith that it was given by an authorized representative
        of the Company and acts pursuant thereto, notwithstanding the absence of
        written
        confirmation or any contradictory provision thereof. The parties hereto
        acknowledge the applicability of Section 10.02 to terms in this Section 11.02
        relating to the delivery of notice to and from the Lessor. 

       

      Section
        11.03  Payment
        of Expenses, Indemnities, Etc.

       

      (a)  The
        Company agrees to pay on demand (i) all reasonable fees and out-of-pocket
        expenses of counsel for the Lessor and the Administrative Agent in connection
        with the preparation, execution and delivery of this Agreement, the other
        Operative Documents and the other documents to be delivered hereunder and
        the
        fulfillment or attempted fulfillment of conditions precedent hereunder, (ii)
        all
        reasonable costs and expenses incurred by Lessor and the Administrative Agent
        and their Affiliates (including, without limitation, WCI) in effecting the
        assignment of WCI’s interest in the Operative Documents and the Original Lease
        Documents to Lessor and in syndicating or re-issuing to the Lease Participants
        all or any portion of the Lessor Investments hereunder, including, without
        limitation, the related reasonable fees and out-of-pocket expenses of counsel
        for WCI, Lessor, and the Administrative Agent or any of their Affiliates,
        travel
        expenses, duplication and printing costs and courier and postage fees, and
        excluding any syndication fees paid to other parties joining the syndicate
        and
        (iii) all out-of-pocket costs and expenses, if any, incurred by the Lessor,
        the
        Administrative Agent, and the Lease Participants in connection with the
        enforcement (whether through negotiations, legal proceedings in bankruptcy
        or
        insolvency proceedings, or otherwise) of this Agreement, the other Operative
        Documents and the other documents to be delivered hereunder and thereunder,
        including the reasonable fees and out-of-pocket expenses of counsel. In
        furtherance of and not in limitation of the foregoing, the Company shall
        pay all
        fees, costs and expenses incurred in obtaining the Approved Appraisal, the
        Environmental Assessment, the title policy referred to in Section 6.01(k),
        the
        certification to the Survey required by Section 6.01(i)] and the Related
        Contracts. The Company shall indemnify the WCI, Lessor, the Administrative
        Agent, and each Lease Participant against any transfer taxes, documentary
        taxes,
        assessments or charges made by any Governmental Authority by reason of the
        execution and delivery of, and performance of obligations under, any of the
        Operative Documents or the Lessor Assignment Agreement.

       

      (b)  The
        Company (in its capacity as Lessee) agrees, in addition to any other indemnity
        obligations set forth in any Operative Document, to indemnify and save harmless
        each Indemnified Party from and against all liabilities, Liens, Taxes, losses,
        obligations, claims, damages (including, without limitation, penalties, fines,
        court costs and administrative service fees), penalties, demands, causes
        of
        action, suits, proceedings (including any investigations, litigation or
        inquiries), judgments, orders, sums paid in settlement of claims, and costs
        and
        expenses of any kind or nature whatsoever, including, without limitation,
        reasonable attorneys’ fees and expenses and all other expenses incurred,
        suffered or realized in connection with investigating, defending or preparing
        to
        defend any cause of action, suit or proceeding (including any investigations,
        litigation or inquiries) or claim which may be incurred by or asserted against
        or involve any of them (whether or not any of them is named as a party thereto)
        as a result of, arising directly or indirectly out of or in any way related
        to
        (i) the failure of the Guarantor or the Company to perform or caused to be
        performed, or the inadequacy of, the environmental due diligence required
        under
        Article IV of the Original Agency Agreement or any of the applicable Operative
        Documents, (ii) the breach of any representation, warranty or agreement set
        forth under the Operative Documents regarding Environmental Requirements
        or
        relating to environmental matters, (iii) the failure of the Guarantor or
        the
        Company to perform any obligation required to be performed under the Operative
        Documents pursuant to Environmental Requirements or relating to environmental
        matters, (iv) the failure of the Guarantor or the Company to
        obtain
        any Environmental Authorizations required in the management, maintenance
        and
        operation of the Facility, or the operation of any business on or related
        to the
        Facility or the Site, (v) any Environmental Damages, Environmental Liabilities
        and Environmental Proceedings relating to the Facility; (vi) all acts or
        omissions by or on behalf of the Company, its contractors, employees, agents,
        licensees, representatives or any other Person for whose conduct the Company
        is
        responsible in connection with this Agreement, any Related Contract or under
        any
        Operative Document (individually and collectively, as the context shall require,
        the “Company
        Agents”);
        (vii)
        the breach or failure to perform by the Company (directly or by any of the
        Company Agents) of any provisions of this Agreement or under any Operative
        Document; (viii) the operations of the business of the Company; (ix) the
        failure
        of the Company (directly or by any of the Company Agents) to comply with
        any
        Governmental Requirement (including, without limitation, design, construction,
        manufacture, engineering, assembly, installation, use, operation or ownership
        of
        the Facility or any portion thereof); (x) the failure of the Company (directly
        or by any of the Company Agents) to pay any amount required to be paid hereunder
        or under the Lease or any other Operative Document, including, without
        limitation (and without duplication), the Lessor Investments and Yield thereon
        (whether or not the Lease has terminated) and Rent; (xi) the Lessor’s ownership
        and leasing of the Facility pursuant to the Lease (other than taxes excluded
        from the definition of Taxes); (xii) the sale of any portion of the Facility
        either to the Company or any other Person pursuant to the provisions of the
        Lease; (xiii) any Imposition, Lien, judgment, order, tax, or other payment
        owing
        in respect of the Facility or which the Company is obligated to discharge
        or pay
        to any Person; (xiv) the renovation, construction, leasing, subleasing,
        operation, occupancy, possession, use or non-use by the Company of the Facility
        or any portion thereof, or the condition of the Facility or any portion thereof;
        (xv) any Default or Event of Default under the Lease or this Agreement; (xvi)
        any act or omission of the Company (directly or by any of the Company Agents)
        relating to, or in connection with, the ownership, renovation, construction,
        leasing, subleasing, operation, management, maintenance, occupancy, possession,
        use, non-use or condition of the Facility or any portion thereof; (xvii)
        performance of any labor or services or furnishing of any materials or other
        Property in respect of the Facility or any portion thereof; (xviii) any
        permitted contest referred to in Section 15 of the Lease; and (xix) any claims
        for patent, trademark, trade name or copyright infringement; 

       

      provided,
        however,
        that no
        Indemnified Party shall be entitled to indemnity (or any other payment or
        reimbursement) for any Indemnified Risks pursuant to this Section 11.03(b)
        to
        the extent such Indemnified Risks result from or arise out of (i) the willful
        misconduct or gross negligence of such Indemnified Party or (ii) for any
        risks
        arising from any third-party damage claims arising from acts or omissions
        occurring during the Construction Term, other than third-party damage claims
        caused by or resulting from the Company’s (or any of the Company Agents’) own
        actions or failures to act while in possession or control of the Facility
        or for
        any risks beyond the control of the Company during the Construction Term
        (directly or through the Company Agents), including acts of God, casualty
        losses
        and condemnations.

       

      (c)  The
        risks
        identified in Section 11.03(b) are referred to in this Agreement, individually
        and collectively, as the context shall require, as the “Indemnified
        Risks.”
The
        Lessor, the Administrative Agent, and each Lease Participant, and their
        respective successors and assigns, and their officers, directors, incorporators,
        shareholders, employees, agents, partners, attorneys, affiliates, contractors,
        subcontractors and servants are referred to in this Agreement individually
        as an
“Indemnified
        Party”
and
        collectively as the “Indemnified
        Parties.”

       

      (d)  If
        any
        cause of action, suit, proceeding or claim arising from any of the foregoing
        is
        brought against any Indemnified Party, whether such action, suit, proceeding,
        or
        claim shall be actual or threatened, or in preparation therefor, the Company
        will have the right, at its expense, to assume the resistance and defense
        of
        such cause of action, suit, proceeding or claim or cause the same to be resisted
        and defended; provided
        that
        such Indemnified Party shall be entitled (but not obligated) to participate
        jointly in such defense, in which case such Indemnified Party will be
        responsible for its own legal fees or other expenses, if any, related to
        such
        defense incurred subsequent to the joint participation by such party in such
        defense. Notwithstanding the foregoing, the Indemnified Party may assume
        the
        defense of such action, suit, proceeding, or claim (and the Company agrees
        to
        reimburse such Indemnified Party on demand for the reasonable fees and expenses
        of any counsel retained by the Indemnified Party), if (i) such Indemnified
        Party
        shall have been advised by counsel chosen by it that there may be one or
        more
        legal defenses available to such Indemnified Party that are different from
        or
        additional to those available to the Company or (ii) the Indemnified Party’s
        counsel shall have advised such Indemnified Party that such action, suit,
        proceeding, or claim involves a risk of the imposition of criminal liability
        or
        will involve a material risk of the sale, forfeiture, or loss of, or the
        creation of any Lien (other than a Permitted Lien of the type described in
        clause (i) of the definition thereof) on the Lease or the Facility or any
        part
        thereof. The Company may settle any action which it defends hereunder on
        such
        terms as it may deem advisable in its sole discretion, subject to its ability
        promptly to perform in full the terms of such settlement and only if such
        settlement does not include any admission of bad faith, gross negligence,
        willful misconduct, or criminal conduct to be entered against, or deemed
        made
        by, any Indemnified Party (unless the Indemnified Parties implicated thereby
        or
        involved therein agree thereto in writing in their sole discretion). No
        Indemnified Party may seek indemnification or other reimbursement or payment,
        including attorneys’ fees or expenses, from the Company for any cause of action,
        suit, proceeding or claim settled, compromised or in any way disposed of
        by the
        Indemnified Party without the Company’s prior written consent, which will not be
        unreasonably withheld.

       

      (e)  The
        obligations of the Company under this Section 11.03 shall survive the expiration
        or any termination of this Agreement (whether by operation of law or otherwise)
        and the payment of amounts owed by the Company under this Agreement and the
        other Operative Documents, and shall also expressly survive any sale, transfer
        or conveyance of the Facility made by the Lessor pursuant to the Lease for
        a
        period of 2 years after the termination of this Agreement and any such sale,
        transfer or conveyance, except for indemnification obligations of the Company,
        which shall continue to survive thereafter.

       

      (f)  Upon
        demand for payment by any Indemnified Party of any Indemnified Risks incurred
        by
        it for which indemnification is sought, the Company shall pay when due and
        payable the full amount of such Indemnified Risks to the appropriate party,
        unless and only so long as: (i) the Company shall have assumed the defense
        of
        such action and is diligently prosecuting the same; (ii) the Company is
        financially able to pay all its obligations outstanding and asserted against
        the
        Company at that time, including the full amount of the Indemnified Risks;
        and
        (iii) the Company has taken all action as may be reasonably necessary to
        prevent
        (1) the collection of such Indemnified Risks from, or the assertion of any
        Lien
        in respect thereof against, the Indemnified Party or its property or assets;
        (2)
        the sale, forfeiture or loss of the Facility or any portion thereof, or any
        property or assets of such Indemnified Party during such defense of such
        action;
        and (3) the imposition of any civil or criminal liability for failure to
        pay
        such Indemnified Risks when due and payable.

       

      (g)  The
        Company acknowledges and agrees, subject to the limitations contained in
        paragraph (b), that its obligations under this Section 11.03 are intended
        to
        include and extend to any and all liabilities, Liens, Taxes, losses,
        obligations, claims, damages (including, without limitation, penalties, fines,
        court costs and administrative service fees), penalties, demands, causes
        of
        action, suits, proceedings (including any investigations, litigation or
        inquiries), judgments, orders, sums paid in settlement of claims, costs and
        expenses (including, without limitation, response and remediation costs,
        stabilization costs, encapsulation costs, and treatment, storage or disposal
        costs), imposed upon or incurred by or asserted at any time against any
        Indemnified Party (whether or not indemnified against by any other party)
        as a
        result of, arising directly or indirectly out of or in any way related to
        (A)
        the treatment, storage, disposal, generation, use, transport, movement,
        presence, release, threatened release, spill, installation, sale, emission,
        injection, leaching, dumping, escaping or seeping of any alleged Hazardous
        Materials at, under, onto, above, within or from the Facility or any part
        thereof or any business conducted on or related to the Facility or the Site;
        (B)
        the violation or alleged violation of any Environmental Requirements relating
        to
        or in connection with the Facility or any part thereof or any acts or omissions
        thereon or relating thereto; (C) all other federal, state and local laws
        designed to protect the environment or persons or property therein, whether
        now
        existing or hereinafter enacted, promulgated or issued by any governmental
        authority relating to or in connection with the Facility or any part thereof
        or
        any acts or omissions thereon or relating thereto; (D) the Company’s failure to
        comply with its obligations under Section 7 of the Lease; and (E) any
        abandonment of the Facility by the Company.

       

      (h)  Without
        limiting the generality of the foregoing provisions of this Section 11.03,
        the
        Company agrees to pay or reimburse, promptly upon demand, and protect, indemnify
        and save harmless, the Lessor following the occurrence of a Termination Event,
        from any action by any Sublessee or other owner of an interest in the Facility
        (other than a Co-Lessee) which causes the Lessor any delay in exercising
        its
        remedies, or results in the reduction of the Lessor’s remedies, under the Lease.

       

      (i)  In
        case
        any action shall be brought against any Indemnified Party in respect of which
        indemnity may be sought against the Company, such Indemnified Party shall
        promptly notify the Company in writing, but the failure to give such prompt
        notice shall not relieve the Company from liability hereunder, except to
        the
        extent such failure deprives the Company of any material defense otherwise
        available to the Company in connection therewith.

       

      Section
        11.04  No
        Waiver; Remedies.
        No
        failure on the part of any Funding Party to exercise, and no delay in
        exercising, any right hereunder or under any Operative Document shall operate
        as
        a waiver thereof; nor shall any single or partial exercise of any right
        hereunder or under any Operative Document preclude any other or further exercise
        thereof or the exercise of any other right. The remedies herein provided
        are
        cumulative and not exclusive of any remedies provided by law.

       

      Section
        11.05  Right
        of Set-Off.
        Upon
        the declaration of the principal amount Unrecovered Lessor Investments and
        the
        accrued Yield thereon and all other amounts payable by the Company hereunder
        and
        under the other Operative Documents, to be due and payable pursuant to the
        provisions of Section 9.02(a), each Funding Party and the Administrative
        Agent,
        and each of their respective Affiliates, is hereby authorized at any time
        and
        from time to time, to the fullest extent permitted by law, to set off and
        apply
        any and all deposits (general or special, time or demand, provisional or
        final)
        at any time held and other indebtedness at any time owing by such Funding
        Party,
        Administrative Agent, or Affiliate to or for the credit or the account of
        the
        Company against any and all of the obligations of the Company now or hereafter
        existing under this Agreement held as part of its Ownership Interests by
        such
        Funding Party, Administrative Agent, or Affiliate, irrespective of whether
        or
        not such Funding Party, Administrative Agent, or Affiliate shall have made
        any
        demand under this Agreement and although such obligations may be unmatured.
        Each
        Funding Party (for itself and on behalf of its Affiliates) and the
        Administrative Agent (for itself and on behalf of its Affiliates), as
        applicable, agrees promptly to notify the Company after any such set-off
        and
        application, provided
        that the
        failure to give such notice shall not affect the validity of such set-off
        and
        application. The rights of each Funding Party, the Administrative Agent,
        and
        such Affiliates under this Section 11.05 are in addition to other rights
        and
        remedies (including, without limitation, other rights of set-off) which the
        same
        may have. All amounts received by any Funding Party, the Administrative Agent,
        or any such Affiliate pursuant to this Section 11.05 shall be shared with
        the
        other Funding Parties pursuant to Section 4.02(d).

       

      Section
        11.06  Assignments
        and Participations.

       

      (a)  The
        Company may not assign its rights or obligations hereunder or under any other
        Operative Document without the prior consent of all of the Funding
        Parties.

       

      (b)  (i)The
        Lessor shall have the right at any time to sell A Percentage Ownership Interests
        and/or B Percentage Ownership Interest to A Percentage Lease Participants
        and/or
        B Percentage Lease Participants, as applicable, without the prior consent
        of the
        other Lease Participants, but (unless a Default or Event of Default is in
        existence) subject to the consent of the Company, which consent shall not
        be
        unreasonably withheld or delayed. The Lessor shall not have the right to
        assign
        its rights and obligations as Lessor hereunder and under the Lease and the
        other
        Operative Documents except, with the prior written consent of the Lease
        Participants and (unless a Default or Event of Default is in existence) the
        Company, which consent in either case shall not be unreasonably withheld
        or
        delayed, to an Eligible Lessor Assignee (and such Eligible Lessor Assignee
        shall
        expressly assume in writing the Lessor’s rights and obligations hereunder and
        under the Operative Documents). Upon such assignment, from and after the
        effective date thereof, (A) the assignee thereunder shall be the Lessor
        hereunder and have the rights and obligations of the Lessor hereunder
        (including, without limitation, the obligations with respect to the Lessor
        Investments and the Lessor Equity Interest) and (B) the assigning Lessor
        shall
        relinquish its rights under this Agreement, and such assigning Lessor shall
        cease to be a party hereto.

       

      (ii)  With
        the
        prior written consent of the Lessor (which consent shall not be unreasonably
        withheld or delayed) and, unless a Default or Event of Default is in existence,
        the Company (which consent shall not be unreasonably withheld or delayed),
        each
        Lease Participant may at any time assign to one or more banks or other financial
        institutions all or a portion of its rights and obligations under this Agreement
        (including, without limitation, all or a portion of its A Percentage Ownership
        Interests and/or B Percentage Ownership Interests, as applicable), and the
        assignee thereof shall assume all such rights and obligations pursuant to
        an
        Assignment and Acceptance executed by such assignee, such assigning Lease
        Participant and the Lessor); provided,
        however,
        that
        (1) the amount of the A Percentage Ownership Interests or B Percentage Ownership
        Interests of the assigning Lease Participant being assigned pursuant to each
        such assignment (determined as of the date of the Assignment and Acceptance
        with
        respect to such assignment) shall in no event be less than $5,000,000, or
        integral multiples of $1,000,000 in excess thereof (or, if less, in either
        case,
        the entire A Percentage Ownership Interests or B Percentage Ownership Interests
        of the assigning Lease Participant (distinguished, however, by those B
        Percentage Ownership Interests attributable to the Non-Recourse Amount and
        those
        in excess of the Non-Recourse Amount), (4) each such assignment shall be
        to an
        Eligible Assignee, (5) a Lease Participant may not have more than 2 assignees
        that are not then Lease Participants at any one time and (6) the parties
        to each
        such assignment shall execute and deliver to the Administrative Agent (on
        behalf
        of the Lessor), for its acceptance and recording in the Register, an Assignment
        and Acceptance, together with a processing and recordation fee of $3,500
        (for
        the account of the Lessor), and shall send to the Administrative Agent (on
        behalf of the Lessor) an executed counterpart of such Assignment and Acceptance,
        with a copy to the Company. Upon such execution, delivery, acceptance and
        recording, from and after the effective date specified in each Assignment
        and
        Acceptance, (A) the assignee thereunder shall be a party hereto and, to the
        extent that rights and obligations hereunder have been assigned to it pursuant
        to such Assignment and Acceptance, have the rights and obligations of a Lease
        Participant hereunder and (B) the assigning Lease Participant thereunder
        shall,
        to the extent that rights and obligations hereunder have been assigned by
        it
        pursuant to such Assignment and Acceptance, relinquish its rights and be
        released from its obligations under this Agreement (and, in the case of an
        Assignment and Acceptance covering all or the remaining portion of an assigning
        Lease Participant’s Ownership Interests, such Lease Participant shall cease to
        be a party hereto).

       

      (c)  By
        executing and delivering an assignment by the Lessor or an Assignment and
        Acceptance by a Lease Participant, each assignor thereunder and the assignee
        thereunder confirm to and agree with each other and the other parties hereto
        as
        follows: (i) other than as provided in assignment by the Lessor or such
        Assignment and Acceptance by a Lease Participant, such assigning Lessor or
        Lease
        Participant makes no representation or warranty and assumes no responsibility
        with respect to any statements, warranties or representations made in or
        in
        connection with this Agreement or the execution, legality, validity,
        enforceability, genuineness, sufficiency or value of this Agreement or any
        other
        instrument or document furnished pursuant hereto; (ii) such assigning Lessor
        or
        Lease Participant makes no representation or warranty and assumes no
        responsibility with respect to the financial condition of the Guarantor or
        the
        Company or the performance or observance by the Company of any of its
        obligations under this Agreement or any other Operative Document or by the
        Guarantor under the Guaranty; (iii) such assignee confirms that it has received
        a copy of this Agreement, together with copies of the financial statements
        referred to in Section 7.01 and such other documents and information as it
        has
        deemed appropriate to make its own credit analysis and decision to enter
        into
        assignment or such Assignment and Acceptance; (iv) such assignee will,
        independently and without reliance upon the Lessor (if it is an assignee
        of a
        Lease Participant), such assigning Lessor or Lease Participant or any other
        Lease Participant and based on such documents and information as it shall
        deem
        appropriate at the time, continue to make its own credit decisions in taking
        or
        not taking action under this Agreement; (v) such assignee confirms that it
        is an
        Eligible Lessor Assignee or Eligible Assignee, as applicable; (vi) such assignee
        appoints and authorizes the Lessor (if it is not an assignee of a Lease
        Participant) and the Administrative Agent to take such action as agent or
        Administrative Agent, as applicable, for the Lease Participants on its behalf
        and to exercise such powers under this Agreement as are delegated to the
        Lessor
        and the Administrative Agent by the terms hereof, together with such powers
        as
        are reasonably incidental thereto; and (vii) such assignee agrees that it
        will
        perform in accordance with their terms all of the obligations which by the
        terms
        of this Agreement are required to be performed by it as either the Lessor
        or a
        Lease Participant, as the case may be.

       

      (d)  The
        Administrative Agent shall maintain on behalf of the Lessor at its address
        referred to in Section 11.02 a copy of each Assignment and Acceptance delivered
        to and accepted by it and a register for the recordation of the names and
        addresses of the Lease Participants and the Ownership Interests and Lease
        Participant Investments owing to each Lease Participant from time to time
        (the
“Register”).
        The
        entries in the Register shall be conclusive and binding for all purposes,
        absent
        manifest error, and the Administrative Agent, the Guarantor, the Company,
        the
        Lessor and the other Lease Participants may treat each Person whose name
        is
        recorded in the Register as a Lease Participant hereunder for all purposes
        of
        this Agreement. The Register shall be available for inspection by the Guarantor,
        the Company, the Lessor, and any Lease Participant at any reasonable time
        and
        from time to time upon reasonable prior notice. Upon the acceptance of any
        Assignment and Acceptance for recordation in the Register, Exhibit
        E
        hereto
        shall be deemed to be amended to reflect the revised Lease Participant
        Commitments of the parties to such Assignment and Acceptance as well as
        administrative information with respect to any new Lease Participant as such
        information is recorded in the Register.

       

      (e)  Upon
        its
        receipt of an Assignment and Acceptance executed by an assigning Lease
        Participant and an assignee representing that it is an Eligible Assignee,
        the
        Administrative Agent (on behalf of the Lessor) shall, if such Assignment
        and
        Acceptance has been completed and is in substantially the form of Exhibit
        E
        hereto,
        (i) accept such Assignment and Acceptance, (ii) record the information contained
        therein in the Register and (iii) give prompt notice thereof to the Guarantor,
        the Company, the Lessor, the other Lease Participants. Within 5 Business
        Days
        after its receipt of such notice and its receipt of an executed counterpart
        of
        such Assignment and Acceptance, the Lessor, at the expense of the Company,
        shall
        execute and deliver to each of the Lease Participants a new Ownership
        Certificate, giving effect to such Assignment and Acceptance and dated the
        date
        thereof. Such Ownership Certificates shall be conclusive and binding absent
        manifest error. 

       

      (f)  Each
        Lease Participant may sell participations to one or more banks or other entities
        in or to all or a portion of its rights and obligations under this Agreement
        (including, without limitation, all or a portion of its Ownership Interests);
        provided,
        however,
        that
        (i) such Lease Participant’s obligations under this Agreement shall remain
        unchanged, (ii) such Lease Participant shall remain solely responsible to
        the
        Lessor for the performance of such obligations, (iii) such Lease Participant
        shall remain the owner of its Ownership Interests for all purposes of this
        Agreement, (iv) the Guarantor, the Company, the Administrative Agent, the
        Lessor
        and the other Lease Participants shall continue to deal solely and directly
        with
        such Lease Participant in connection with its rights and obligations under
        this
        Agreement and the other Operative Documents, (v) such Lease Participant shall
        continue to be able to agree to any modification or amendment of this Agreement
        or any waiver hereunder without the consent, approval or vote of any such
        participant or group of participants, other than modifications, amendments
        and
        waivers which (A) postpone any date fixed for any payment of, or reduce any
        payment of, principal of or Yield on the Lessor Investments, (B) reduce the
        Yield payable under this Agreement and such Lease Participant’s Ownership
        Interests, or (C) consent to the assignment or the transfer by the Company
        or
        the Lessor of any of its rights and obligations as the Company or the Lessor,
        respectively, under this Agreement (to the extent such consent is required
        pursuant to the Agreement) and (vi) except as contemplated by the immediately
        preceding clause (v), no participant shall be deemed to be or to have any
        of the
        rights or obligations of a “Lease Participant” hereunder.

       

      (g)  The
        Lessor or any Lease Participant may, in connection with any assignment or
        participation or proposed assignment or participation pursuant to this Section
        11.06, disclose to the assignee or participant or proposed assignee or
        participant any information relating to the Guarantor or the Company furnished
        to the Lessor or such Lease Participant by or on behalf of the Company or
        the
        Guarantor; provided
        that,
        prior to any such disclosure, the assignee or participant or proposed assignee
        or participant shall agree in writing for the benefit of the Guarantor and
        the
        Company to preserve the confidentiality of any confidential information relating
        to the Guarantor or the Company received by it from the Lessor or such Lease
        Participant in a manner consistent with Section 11.13.

       

      (h)  Anything
        in this Agreement to the contrary notwithstanding, any Lease Participant
        may at
        any time create a security interest in all or any portion of its rights under
        this Agreement (including, without limitation, its Ownership Interests) in
        favor
        of any Federal Reserve Bank in accordance with Regulation A of the Board
        of
        Governors of the Federal Reserve System (or any successor regulation) and
        the
        applicable operating circular of such Federal Reserve Bank.

       

      (i)  Notwithstanding
        any other provision of this Agreement or any other Operative Document, neither
        the Guarantor or the Company nor any of their Affiliates
        (i) may acquire any of the Ownership Interests unless the Guarantor or the
        Company or such Affiliate acquires all of the Ownership Interests in a single
        transaction and thereby becomes bound by the provisions hereof; and unless
        the
        Guarantor or the Company or such Affiliate shall have acquired all of the
        Ownership Interests, it shall not be entitled to exercise any rights or remedies
        of a Funding Party under any of the Operative Documents.

       

      (j)  Notwithstanding
        any other provision of this Agreement to the contrary, no assignee or
        participant shall be entitled to receive any greater payment under Section
        4.06
        or 5.03 than the transferor Funding Party would have been entitled to receive
        with respect to the rights transferred, unless such transfer is made with
        the
        Company’s prior written consent or by reason of the provisions of Section 5.02
        or 5.03 hereof requiring such Funding Party to designate a different Applicable
        Funding Office under certain circumstances or at a time when the circumstances
        giving rise to such a greater payment did not exist.

       

      Section
        11.07  Invalidity.
        In the
        event that any one or more of the provisions contained in this Agreement
        or in
        any other Operative Document shall, for any reason, be held invalid, illegal
        or
        unenforceable in any respect, such invalidity, illegality or unenforceability
        shall not affect any other provision of this Agreement or any other Operative
        Document.

       

      Section
        11.08  Entire
        Agreement.
        THIS
        AGREEMENT AND THE OTHER OPERATIVE DOCUMENTS EMBODY THE ENTIRE AGREEMENT AND
        UNDERSTANDING AMONG THE LESSOR, THE ADMINISTRATIVE AGENT, THE LEASE
        PARTICIPANTS, THE GUARANTOR AND THE COMPANY AND SUPERSEDE ALL OTHER AGREEMENTS
        AND UNDERSTANDINGS AMONG SUCH PARTIES RELATING TO THE SUBJECT MATTER HEREOF
        AND
        THEREOF. THIS WRITTEN AGREEMENT AND THE OTHER OPERATIVE DOCUMENTS REPRESENT
        THE
        FINAL AGREEMENT AMONG THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE
        OF
        PRIOR, CONTEMPORANEOUS OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES. THERE
        ARE
        NO UNWRITTEN ORAL AGREEMENTS AMONG THE PARTIES.

       

      Section
        11.09  References.
        The
        words “herein,” “hereof,” “hereunder” and other words of similar import when
        used in this Agreement refer to this Agreement as a whole, and not to any
        particular article, section or subsection. Any reference herein to an Article
        or
        Section shall be deemed to refer to the applicable Article or Section of
        this
        Agreement unless otherwise stated herein. Any reference herein to an exhibit
        or
        schedule shall be deemed to refer to the applicable exhibit or schedule attached
        hereto unless otherwise stated herein.

       

      Section
        11.10  Successors;
        Survivals.
        This
        Agreement shall be binding upon and inure to the benefit of the parties hereto
        and their respective successors and permitted assigns. The obligations of
        the
        Company under Section 4.06, Article V, and Section 11.03 shall survive the
        redemption of the Lessor Investments and the termination of this
        Agreement.

       

      Section
        11.11  Captions.
        Captions and section headings appearing herein are included solely for
        convenience of reference and are not intended to affect the interpretation
        of
        any provision of this Agreement.

       

      Section
        11.12  Counterparts.
        This
        Agreement may be executed in any number of counterparts, all of which taken
        together shall constitute one and the same instrument and any of the parties
        hereto may execute this Agreement by signing any such counterpart. Delivery
        to
        the Lessor of a counterpart executed by a Lease Participant shall constitute
        delivery of such counterpart to all of the Lease Participants and the
        Administrative Agent. This Agreement may be delivered by facsimile transmission
        of the relevant signature pages hereof.

       

      Section
        11.13  Confidentiality.
        Each
        Funding Party and the Administrative Agent agrees to exercise commercially
        reasonable efforts to keep any information delivered or made available by
        the
        Company or the Guarantor to it which is clearly indicated or stated to be
        confidential information (or when the circumstances under which such information
        is delivered or when the content thereof would cause a reasonable person
        to
        believe that such information is confidential) confidential from anyone other
        than Persons employed or retained by such Funding Party or the Administrative
        Agent who are or are expected to become engaged in evaluating, approving,
        structuring or administering the Lessor Investments, the Ownership Interests
        or
        the Operative Documents (such Persons to likewise be under similar obligations
        of confidentiality with respect to such information); provided, however,
        that
        nothing herein shall prevent any Funding Party or the Administrative Agent
        from
        disclosing such information (a) to any other Funding Party or the Administrative
        Agent, (b) upon the order of any court or administrative agency, (c) upon
        the
        request or demand of any regulatory agency or authority having jurisdiction
        over
        such Funding Party or the Administrative Agent, as applicable, (d) which
        has
        been publicly disclosed, (e) to the extent reasonably required in connection
        with any litigation to which any Funding Party, the Administrative Agent,
        or any
        of their respective Affiliates may be a party, (f) to the extent reasonably
        required in connection with the exercise of any remedy hereunder, (g) to
        such
        Funding Party’s or Administrative Agent’s legal counsel and independent
        auditors, (h) to any actual or proposed Eligible Lessor Assignee, Eligible
        Assignee or other participant in all or part of its rights hereunder which
        has
        agreed in writing to be bound by the provisions of this Section 11.13; provided
        that should disclosure of any such confidential information be required by
        virtue of clause (b), (c) or (e) of the immediately preceding sentence, any
        relevant Funding Party or the Administrative Agent shall, to the extent
        permitted by applicable law, rule or regulations, promptly notify the Company
        or
        the Guarantor of same so as to allow the Company and the Guarantor to seek
        a
        protective order or to take any other appropriate action; provided, further,
        that none of the Funding Parties nor the Administrative Agent shall be required
        to delay compliance with any directive to disclose beyond the last date such
        delay is legally permissible any such information so as to allow the Company
        and
        the Guarantor to effect any such action.

       

      Section
        11.14  Governing
        Law; Submission to Jurisdiction.

       

      (a)  This
        Agreement (including, but not limited to, the validity and enforceability
        hereof
        and thereof) shall be governed by, and construed in accordance with, the
        laws of
        the State of New York, other than the conflict of laws rules thereof (other
        than
        Section 5.1401 of the New York General Obligations Law), except to the extent
        that the laws of the State of Alabama mandatorily apply.

       

      (b)  The
        Company hereby irrevocably submits to the jurisdiction of any New York State
        or
        Federal court sitting in New York City and any appellate court from any thereof
        in any action or proceeding by the Lessor or any Lease Participant in respect
        of, but only in respect of, any claims or causes of action arising out of
        or
        relating to this Agreement or the other Operative Documents (such claims
        and
        causes of action, collectively, being “Permitted
        Claims”),
        and
        the Company hereby irrevocably agrees that all Permitted Claims may be heard
        and
        determined in such New York State court or in such Federal court. The Company
        hereby irrevocably waives, to the fullest extent it may effectively do so,
        the
        defense of an inconvenient forum to the maintenance of such action or proceeding
        in any aforementioned court in respect of Permitted Claims. The Company hereby
        irrevocably agrees that service of copies of the summons and complaint and
        any
        other process which may be served by the Lessor, the Administrative Agent,
        or
        the Lease Participants in any such action or proceeding in any aforementioned
        court in respect of Permitted Claims may be made by delivering a copy of
        such
        process to the Company by courier and by certified mail (return receipt
        requested), fees and postage prepaid, at the Company’s address specified
        pursuant to Section 11.02. The Company agrees that a final judgment in any
        such
        action or proceeding shall be conclusive and may be enforced in other
        jurisdictions by suit on the judgment or in any other manner provided by
        law.

       

      (c)  Nothing
        in this Section 11.14: (i) shall affect the right of any Lease Participant
        or
        the Lessor to serve legal process in any other manner permitted by law or
        affect
        any right otherwise existing of any Lease Participant or the Lessor to bring
        any
        action or proceeding against the Company or its property in the courts of
        other
        jurisdictions or (ii) shall be deemed to be a general consent to jurisdiction
        in
        any particular court or a general waiver of any defense or a consent to
        jurisdiction of the courts expressly referred to in subsection (a) above
        in any
        action or proceeding in respect of any claim or cause of action other than
        Permitted Claims.

       

      Section
        11.15  Yield.
        It is
        the intention of the parties hereto that each Funding Party shall conform
        strictly to usury laws applicable to it. Accordingly, if the transactions
        contemplated hereby would be usurious as to any Funding Party under laws
        applicable to it (including the laws of the United States of America and
        the
        State of New York or any other jurisdiction whose laws may be mandatorily
        applicable to such Funding Party notwithstanding the other provisions of
        this
        Agreement), then, in that event, notwithstanding anything to the contrary
        in
        this Agreement or in any other Operative Document or any other agreement
        entered
        into in connection with or as security for the Ownership Interests, it is
        agreed
        as follows: (i) the aggregate of all consideration which constitutes interest
        under law applicable to any Funding Party that is contracted for, taken,
        reserved, charged or received by such Funding Party under this Agreement
        or
        under any of the other aforesaid Operative Documents or other agreements
        or
        otherwise in connection with the Ownership Interests shall under no
        circumstances exceed the maximum amount allowed by such applicable law, and
        any
        excess shall be cancelled automatically and if theretofore paid shall be
        credited by such Funding Party on the principal amount of its Ownership
        Interests (or, to the extent that the principal amount of its Ownership
        Interests shall have been or would thereby be redeemed in full, refunded
        by such
        Lease Participant to the Lessor and by the Lessor to the Company); and (ii)
        in
        the event that the maturity of the Ownership Interests is accelerated by
        reason
        of an election of the holder thereof resulting from any Event of Default
        under
        this Agreement or otherwise, or in the event of any required or permitted
        redemption, then such consideration that constitutes interest under law
        applicable to any Funding Party may never include more than the maximum amount
        allowed by such applicable law, and excess Yield, if any, provided for in
        this
        Agreement or otherwise shall be cancelled automatically by such Funding Party
        as
        of the date of such acceleration or prepayment and, if theretofore paid,
        shall
        be credited by such Funding Party on the principal amount of its Ownership
        Interests (or, to the extent that the principal amount of the Ownership
        Interests shall have been or would thereby be redeemed in full, refunded
        by such
        Lease Participant to the Lessor and by the Lessor to the Company). All sums
        paid
        or agreed to be paid to any Funding Party for the use, forbearance or detention
        of sums due hereunder shall, to the extent permitted by law applicable to
        such
        Funding Party, be amortized, prorated, allocated and spread in equal parts
        throughout the full term of the Ownership Interests, until payment in full,
        so
        that the rate or amount of Yield on account of any Ownership Interests hereunder
        does not exceed the maximum amount allowed by such applicable law. If at
        any
        time and from time to time (i) the amount of Yield payable to any Funding
        Party
        on any date shall be computed at the Highest Lawful Rate applicable to such
        Funding Party pursuant to this Section 11.15 and (ii) in respect of any
        subsequent Yield computation period the amount of Yield otherwise payable
        to
        such Funding Party would be less than the amount of Yield payable to such
        Funding Party computed at the Highest Lawful Rate applicable to such Funding
        Party, then the amount of Yield payable to such Funding Party in respect
        of such
        subsequent Yield computation period shall continue to be computed at the
        Highest
        Lawful Rate applicable to such Funding Party until the total amount of Yield
        payable to such Funding Party shall equal the total amount of Yield which
        would
        have been payable to such Funding Party if the total amount of Yield had
        been
        computed without giving effect to this Section.

       

      Section
        11.16  Characterization.
        

       

      (a)  In
        order
        to protect the rights and remedies of the Funding Parties following a
        Termination Event or a Cancellation Event, and for the purposes of commercial
        law and Federal, state and local income and ad valorem taxes and Title 11
        of the
        United States Code (or any other applicable Federal, state or local insolvency,
        reorganization, moratorium, fraudulent conveyance or similar law now or
        hereafter in effect for the relief of debtors), the parties hereto intend
        that
        (i) the Lease be treated as the repayment and security provisions of a loan
        by
        the Lessor to the Company in the amount of the Facility Cost, (ii) all payments
        of Basic Rent, Supplemental Rent, the Final Rent Payment, the Termination
        Value
        and the Purchase Price be treated as payments of principal, interest and
        other
        amounts owing with respect to such loan and (iii) the Company be treated
        as
        entitled to all benefits of ownership of the Facility or any part thereof.
        In
        addition, the parties acknowledge that after payment in full of the Ownership
        Interests, the Yield accrued thereon and any other obligations of the Company
        under the Operative Documents, any remaining proceeds of the Facility shall
        be
        distributed to the Company.

       

      (b)  The
        Company agrees that neither it nor any of its Affiliates (whether or not
        consolidated or combined returns are filed for any such Affiliate and the
        Company for federal, state or local income tax purposes) will at any time
        take
        any action, directly or indirectly, or file any return or other document
        inconsistent with the intended income tax treatment set forth in the preceding
        clause (a), and the Company agrees that the Company and any such Affiliates
        will
        file such returns, maintain such records, take such action and execute such
        documents (as reasonably requested by the Lessor or the Lease Participants
        from
        time to time) as may be appropriate to facilitate the realization of such
        intended income tax treatment. Each of the Lessor and the Lease Participants
        agrees that neither it nor any affiliate (whether or not consolidated or
        combined returns are filed for such affiliate and the Lessor or any Lease
        Participant, as the case may be, for federal, state or local income tax
        purposes) will at any time take any action, directly or indirectly, or file
        any
        return or other document claiming, or asserting that it is entitled to, the
        income tax benefits, deductions and/or credits which, pursuant to the intended
        income tax treatment set forth herein, would otherwise be claimed or claimable
        by the Company, and that it and any such affiliates will file such returns,
        maintain such records, take such actions, and execute such documents (as
        reasonably requested by the Company from time to time) as may be appropriate
        to
        facilitate the realization of, and as shall be consistent with, such intended
        income tax treatment, and if any such filing, maintenance, action or execution
        requested by the Company or the Guarantor would result in any additional
        income
        tax liability payable by it or any affiliate, or could reasonably be expected
        to
        result in liability payable by it or any affiliate, unrelated to the intended
        income tax treatment set forth herein, then the Company will provide an
        indemnity against such unrelated income tax liability satisfactory to the
        Lessor
        or any Lease Participant, as the case may be, in its sole opinion.

       

      (c)  The
        Company acknowledges that no Lease Participant, the Administrative Agent,
        the
        Lessor or any Affiliate of any of the foregoing thereof is making any
        representation, nor is it required to make any disclosure, now or in the
        future,
        with respect to the parties’ tax or accounting treatment of the Facility or the
        financing thereof, nor is any Lease Participant, the Lessor, the Administrative
        Agent, or any Affiliate or any of the foregoing responsible, nor will it
        be
        responsible in the future, for tax and accounting advice with respect to
        the
        Facility or the financing thereof, and the Company has had or will have the
        benefit of the advice of its own independent tax and accounting advisors
        with
        respect to such matters.

       

      Section
        11.17  Compliance.
        None of
        the Lessor, the Administrative Agent, nor any Lease Participant has any
        responsibility for compliance by the Facility or the Company with any
        Governmental Requirement or other matters. The Company expressly assumes
        such
        responsibilities and shall indemnify and hold harmless the Lessor, the
        Administrative Agent, and the Lease Participants with respect thereto in
        the
        manner provided in the Lease.

       

      Section
        11.18  Facility.
        Upon
        payment by the Company of the Purchase Price Value in connection with its
        purchase of all of the Facility in accordance with the Lease, or the repayment
        in full of all amounts then due and owing by the Company under the Operative
        Documents, and promptly upon the request of the Company, the Lessor shall
        convey
        the Facility to the Company or its designee, free and clear of any Lien or
        other
        adverse interest of any kind created by the Lessor or any Person claiming
        by,
        through or under the Lessor, including, without limitation, the Lessor and
        the
        Lease Participants (except as consented to by the Company). 

       

      Section
        11.19  Funding
        Parties.
        No
        recourse under any obligation, covenant or agreement of any Funding Party
        contained in this Agreement, any Operative Document or any agreement or document
        executed in connection herewith or therewith or the transactions contemplated
        hereby or thereby shall be had against any shareholder, employee, officer,
        director, affiliate or incorporator of the Funding Parties. The obligations,
        covenants and agreements of the Funding Parties under any of the foregoing
        agreements and documents are solely the corporate obligations of the Funding
        Parties, and the Lessor (with respect to the Lease Participants) and the
        Company
        and the Lease Participants (with respect to the Lessor) agree to look solely
        to
        the Lease Participants or the Lessor, as applicable, for payment of all
        obligations, including, without limitation, any fees or other amounts due
        hereunder or thereunder, and claims arising out of or relating to any of
        the
        foregoing agreements and documents. The provisions of this Section shall
        survive
        the termination of this Agreement.

       

      Section
        11.20  Waiver
        of Jury Trial.
        EACH
        OF THE PARTIES HERETO WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE
        LAW,
        ANY RIGHT TO A TRIAL BY JURY IN ANY ACTION OR PROCEEDING TO ENFORCE OR TO
        DEFEND
        ANY RIGHTS UNDER THIS AGREEMENT OR ANY OTHER OPERATIVE DOCUMENT OR UNDER
        AMENDMENT, INSTRUMENT, DOCUMENT OR AGREEMENT DELIVERED OR WHICH MAY IN THE
        FUTURE BE DELIVERED IN CONNECTION HEREWITH OR THEREWITH OR ARISING FROM ANY
        RELATIONSHIP EXISTING IN CONNECTION WITH THIS AGREEMENT OR ANY OTHER OPERATIVE
        DOCUMENT, AND AGREES THAT ANY SUCH ACTION OR PROCEEDING SHALL BE TRIED BEFORE
        A
        COURT AND NOT BEFORE A JURY.

       

      Section
        11.21  Certain
        Acknowledgments of the Parties.
        Each of
        the parties hereto hereby acknowledges and agrees that (i) this Agreement
        and
        the other Operative Documents have not been negotiated by the Lessor or any
        of
        the Lease Participants in the State of Alabama, (ii) the closing of the
        transactions contemplated by this Agreement and the other Operative Documents
        shall take place at the office of the Lessor in Charlotte, North Carolina,
        or at
        the office of its counsel in Atlanta, GA, and (iii) in addition to the
        satisfaction of other conditions set forth in Section 6.01 of this Agreement,
        this Agreement shall not be effective until the Lessor has received at its
        office in Charlotte, North Carolina the documents described in the first
        sentence of Section 6.01.

       

      Section
        11.22  Amendment
        and Restatement.
        This
        Agreement constitutes an amendment and restatement of the Original Investment
        Agreement, the terms of which survive, but only as amended and restated
        herein. 

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

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

       

      The
        Company:PROTECTIVE
        LIFE INSURANCE COMPANY

      

      

      By:
        

      Name:

      Title:

      

      Principal
        Place of Business and Chief Executive Office:

      

      2801
        Highway 280 South

      Birmingham,
        Alabama 35223

      Attention:
        Lance Black

      Telecopier:
        205-268-3642

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      Lessor:WACHOVIA
        DEVELOPMENT CORPORATION

      

      A
        Percentage Lessor Investment:By:
        

      $0.00
        Name:

      Title:

      B
        Percentage Lessor Investment

      attributable
        to the Non-Recourse Amount:

      $3,750,000.00

      

      B
        Percentage Lessor Investment

      in
        excess
        of the Non-Recourse Amount:

      $0.00Applicable
        Funding Office and Address for Notices:

      

      Wachovia
        Development Corporation

      c/o
        Wachovia Bank, National Association

      301
        S.
        College Street

      MC
        0179

      Charlotte,
        North Carolina 28288

      Attention:
        Gabrielle Braverman

      Telecopier
        No.: 704-715-0065

      Telephone
        No. 704-383-1967

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      Administrative
        Agent:WACHOVIA
        BANK, NATIONAL ASSOCIATION

      

      By:
        

      Name:

      Title:

      

      Address
        for Notices:

      

      Wachovia
        Bank, National Association

      301
        S.
        College Street

      MC
        0179

      Charlotte,
        North Carolina 28288

      Attention:
        Gabrielle Braverman

      Telecopier
        No.: 704-715-0065

      Telephone
        No. 704-383-1967

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      Lease
        Participant:WACHOVIA
        BANK, NATIONAL ASSOCIATION

      

      A
        Percentage Lessor Investment:By:
        

      $0.00
        Name:

      Title:

      B
        Percentage Lessor Investment

      attributable
        to the Non-Recourse Amount:

      $9,825,000.00

      

      B
        Percentage Lessor Investment

      in
        excess
        of the Non-Recourse Amount:

      $11,425,000.00Applicable
        Funding Office and Address for Notices:

      

      Wachovia
        Bank, National Association

      301
        S.
        College Street

      MC
        0179

      Charlotte,
        North Carolina 28288

      Attention:
        Gabrielle Braverman

      Telecopier
        No.: 704-715-0065

      Telephone
        No. 704-383-1967

      

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      Lease
        Participant:SUNTRUST
        BANK

      

      A
        Percentage Lessor Investment:By:
        

      $25,000,000.00
        Name:

      Title:

      B
        Percentage Lessor Investment

      attributable
        to the Non-Recourse Amount:

      $0.00

      

      B
        Percentage Lessor Investment

      in
        excess
        of the Non-Recourse Amount:

      $0.00Applicable
        Funding Office and Address for Notices:

      

      SunTrust
        Bank

      303
        Peachtree Street, NE - 3rd
        Floor

      Atlanta,
        Georgia 30308

      Attention:
        E. Donald Besch, Jr.

      Telecopier
        No.: 404-588-8833

      Telephone
        No. 404-575-2649

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      Lease
        Participant:CITIBANK,
        N.A.

      

      A
        Percentage Lessor Investment:By:
        

      $25,000,000.00
        Name:

      Title:

      B
        Percentage Lessor Investment

      attributable
        to the Non-Recourse Amount:

      $0.00

      

      B
        Percentage Lessor Investment

      in
        excess
        of the Non-Recourse Amount:

      $0.00Applicable
        Funding Office and Address for Notices:

      

      Citibank,
        N.A.

      388
        Greenwich Street

      New
        York,
        NY 10013

      Attention:
        Catherine Morrow

      Telecopier
        No.: 646-291-1723

      Telephone
        No. 212-816-3863

       

      

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      EXHIBIT
        A

       

      DESCRIPTION
        OF SITE

       

      ANNEX
        PARCEL

       

      Acreage
        situated in the SW 1/4 of the SE 1/4 and the SE 1/4 of the SW 1/4 of Section
        8,
        Township 18 South, Range 2 West and the NW 1/4 of the NE 1/4 of Section 17,
        Township 18 South, Range 2 West, Jefferson County, Alabama, being more
        particularly described as follows:

       

      Commence
        at the Northwesterly corner of Lot 10-A, Parkway Subdivision, as recorded
        in Map
        Book 88, Page 38 in the office of the Judge of Probate of Jefferson County,
        Alabama, said point lying on the Southwesterly Right-of-Way line of Cahaba
        Road
        (Old U.S. Highway No. 280), said point also lying on the East line of the
        SW 1/4
        of the SE 1/4 of Section 8, Township 18 South, Range 2 West; thence run in
        a
        Southerly direction along the Westerly line of said Lot 10-A and the East
        line
        of said 1/4-1/4 section a distance of 291.49 feet to a point; thence 55o35’25”
to the right in a Southwesterly direction a distance of 328.53 feet to a
        point;
        thence 87o34’08” to the right in a Northwesterly direction a distance of 2.20
        feet to a point; thence 52o23’58” to the left in a Westerly direction a distance
        of 482.90 feet to a point; thence 83o11’36” to the left in a Southwesterly
        direction a distance of 16.97 feet to a point; thence 83o16’34” to the right in
        a Westerly direction a distance of 65.00 feet to a point; thence 90o00’44” to
        the left in a Southerly direction a distance of 20.26 feet to a point; thence
        31o54’03” to the right in a Southwesterly direction a distance of 67.66 feet to
        a point; thence 90o00’ to the right in a Northwesterly direction a distance of
        122.74 feet to the POINT OF BEGINNING of the parcel herein described, said
        point
        lying on the face of the newly constructed Building Annex No. 3; thence 2o18’03”
to the right in a Northwesterly direction along the face of said building
        a
        distance of 39.90 feet to a point; thence 90o00’ to the right in a Northeasterly
        direction along the face of said building a distance of 5.33 feet to a point;
        thence 90o00’ to the left in a Northwesterly direction along the face of said
        building a distance of 254.97 feet to a point; thence 90o00’ to the right in a
        Northeasterly direction along the face of said building a distance of 21.25
        feet
        to a point on the face of an existing Parking Deck; thence 90o00’ to the left in
        a Northwesterly direction along the face of said parking deck a distance
        of
        120.80 feet to a point on the face of existing Building 1; thence 90o00’ to the
        left in a Southwesterly direction along the face of said building a distance
        of
        19.09 feet to a point; thence 90o00’ to the right in a Northwesterly direction
        along the face of said building a distance of 10.89 feet to a point; thence
        90o00’ to the left in a Southwesterly direction along the face of said building
        and along the face of the newly constructed Building Annex No. 3 a distance
        of
        57.38 feet to a point; thence 90o00’ to the left in a Southeasterly direction
        along the face of said Building Annex No. 3 a distance of 64.38 feet to a
        point;
        thence 90o00’ to the right in a Southwesterly direction along the face of said
        building a distance of 73.55 feet to a point; thence 90o00’ to the left in a
        Southeasterly direction along the face of said building a distance of 2.54
        feet
        to a point; thence 90o00’ to the right in a Southwesterly direction a distance
        of 6.00 feet to a point; thence 90o00’ to the left in a Southeasterly direction
        a distance of 27.45 feet to a point; thence 90o00’ to the left in a
        Northeasterly direction a distance of 6.00 feet to a point on the face of
        the
        newly constructed Building Annex No. 3; thence 90o00’ to the right in a
        Southeasterly direction along the face of said building a distance of 281.48
        feet to a point; thence 90o00’ to the right in a Southwesterly direction a
        distance of 4.30 feet to a point; thence 90o00’ to the left in a Southeasterly
        direction a distance of 9.17 feet to a point; thence 90o00’ to the left in a
        Northeasterly direction a distance of 4.30 feet to a point on the face of
        the
        newly constructed Building Annex No. 3; thence 90o00’ to the right in a
        Southeasterly direction along the face of said building a distance of 1.67
        feet
        to a point; thence 90o00’ to the left in a Northeasterly direction along the
        face of said building a distance of 27.92 feet to a point; thence 90o00’ to the
        right in a Southeasterly direction along the face of said building a distance
        of
        39.87 feet to a point; thence 90o00’ to the left in a Northeasterly direction
        along the face of said building a distance of 95.52 feet to the Point of
        Beginning.

       

      Containing
        51,664 square feet or 1.186 acres.

       

      TOGETHER
        WITH, a non exclusive easement for pedestrian and vehicular ingress and egress
        to, upon, over and across the Protective Road, Protective Driveway and Orchid
        Driveway (as the same are described in the certain Reciprocal Easement Agreement
        by and between Orchid, L.L.C. and Protective Life Insurance Company dated
        as of
        January 19, 1996, and recorded as Instrument #9601/6971 in the Probate Office
        of
        Jefferson County, Alabama, as amended and restated by Amended and Restated
        Reciprocal Easement Agreement dated as of March 16, 2004, and recorded as
        Instrument #200405/9866, in said Probate Office), as the same may be modified
        or
        relocated.

       

      TOGETHER
        WITH, (a) a non-exclusive easement for the purpose of pedestrian and vehicular
        ingress and egress to, on, over and across the Common Driveway; (b) an easement
        along the Common Access Driveway for the drainage of storm water; and, (c)
        an
        easement along the Common Access Driveway and over the Company Tract for
        installing, operating, and maintaining utility facilities (as the same are
        described in that certain Reciprocal Easement Agreement by and between
        Protective Life Insurance Company and Wachovia Capital Investments, Inc.
        dated
        as of the 1st day of February, 2000, and recorded as Instrument #200004/0950,
        in
        the Probate Office of Jefferson County, Alabama, as amended by First Amendment
        to Reciprocal Easement Agreement dated as of September 1, 2004 and recorded
        as
        Instrument #200413/6654, in said Probate Office).

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      PARKING
        DECK PARCEL

       

      Acreage
        situated in the SW 1/4 of the SE 1/4 of Section 8, Township 18 South, Range
        2
        West, Jefferson County, Alabama, being more particularly described as
        follows:

       

      Commence
        at the Northwesterly corner of Lot 10-A, Parkway Subdivision, as recorded
        in Map
        Book 88, Page 38 in the office of the Judge of Probate of Jefferson County,
        Alabama, said point lying on the Southwesterly Right-of-Way line of Cahaba
        Road
        (Old U.S. Highway No. 280), said point also lying on the East line of the
        SW 1/4
        of the SE 1/4 of Section 8, Township 18 South, Range 2 West; thence run in
        a
        Southerly direction along the Westerly line of said Lot 10-A and the East
        line
        of said 1/4-1/4 section a distance of 291.49 feet to a point; thence 55o35’25”
to the right in a Southwesterly direction a distance of 328.53 feet to a
        point;
        thence 87o34’08” to the right in a Northwesterly direction a distance of 2.20
        feet to a point; thence 52o23’58” to the left in a Westerly direction a distance
        of 310.55 feet to a point; thence 90o00’ to the right in a Northerly direction a
        distance of 111.28 feet to a point on the face of the newly constructed parking
        deck, said point being the POINT OF BEGINNING of the parcel herein described;
        thence 34o26’54’ to the right in a Northeasterly direction along the face of
        said parking deck a distance of 200.87 feet to a point; thence 90o00’ to the
        left in a Northwesterly direction along the face of said parking deck a distance
        of 3.99 feet to a point; thence 90o00’ to the right in a Northeasterly direction
        along the face of said parking deck a distance of 13.22 feet to a point;
        thence
        90o00’ to the left in a Northwesterly direction along the face of said parking
        deck a distance of 12.98 feet to a point; thence 90o00’ to the right in a
        Northeasterly direction along the face of said parking deck a distance of
        4.00
        feet to a point; thence 90o00’ to the left in a Northwesterly direction along
        the face of said parking deck a distance of 274.49 feet to a point; thence
        90o00’ to the left in a Southwesterly direction along the face of said parking
        deck a distance of 4.06 feet to a point; thence 90o00’ to the right in a
        Northwesterly direction along the face of said parking deck a distance of
        13.00
        feet to a point; thence 90o00’ to the left in a Southwesterly direction along
        the face of said parking deck a distance of 13.02 feet to a point; thence
        90o00’
to the right in a Northwesterly direction along the face of said parking
        deck a
        distance of 3.89 feet to a point; thence 90o00’ to the left in a Southwesterly
        direction along the face of said parking deck a distance of 200.93 feet to
        a
        point; thence 90o00’ to the left in a Southeasterly direction along the face of
        said parking deck a distance of 3.91 feet to a point; thence 90o00’ to the right
        in a Southwesterly direction along the face of said parking deck and its
        extension a distance of 16.06 feet to a point along the roof overhang line
        of
        the newly constructed pedestrian bridge; thence 90o00’ to the right in a
        Northwesterly direction along said roof overhang line a distance of 95.00
        feet
        to a point on the face of the existing parking deck; thence 90o00’ to the left
        in a Southwesterly direction along the face of the existing parking deck
        a
        distance of 15.94 feet to a point along the roof overhang line of the newly
        constructed pedestrian bridge; thence 90o00’ to the left in a Southeasterly
        direction along said roof overhang line a distance of 107.90 feet to a point
        on
        the face of the newly constructed parking deck; thence 90o00’ to the right in a
        Southwesterly direction along the face of said parking deck a distance of
        6.79
        feet to a point; thence 90o00’ to the left in a Southeasterly direction along
        the face of said parking deck a distance of 28.64 feet to a point; thence
        90o00’
to the left in a Northeasterly direction along the face of said parking deck
        a
        distance of 21.62 feet to a point; thence 90o00’ to the right in a Southeasterly
        direction along the face of said parking deck a distance of 245.90 feet to
        a
        point; thence 90o00’ to the left in a Northeasterly direction along the face of
        said parking deck a distance of 3.90 feet to a point; thence 90o00’ to the right
        in a Southeasterly direction along the face of said parking deck a distance
        of
        13.02 feet to a point; thence 90o00’ to the left in a Northeasterly direction
        along the face of said parking deck a distance of 13.19 feet to a point;
        thence
        90o00’ to the right in a Southeasterly direction along the face of said parking
        deck a distance of 3.98 feet to the Point of Beginning.

       

      Containing
        74,417 square feet or 1.708 acres.

       

      TOGETHER
        WITH, a non exclusive easement for pedestrian and vehicular ingress and egress
        to, upon, over and across the Protective Road, Protective Driveway and Orchid
        Driveway (as the same are described in the certain Reciprocal Easement Agreement
        by and between Orchid, L.L.C. and Protective Life Insurance Company dated
        as of
        January 19, 1996, and recorded as Instrument #9601/6971 in the Probate Office
        of
        Jefferson County, Alabama, as amended and restated by Amended and Restated
        Reciprocal Easement Agreement dated as of March 16, 2004, and recorded as
        Instrument #200405/9866, in said Probate Office), as the same may be modified
        or
        relocated.

       

      TOGETHER
        WITH, (a) a non-exclusive easement for the purpose of pedestrian and vehicular
        ingress and egress to, on, over and across the Common Driveway; (b) an easement
        along the Common Access Driveway for the drainage of storm water; and, (c)
        an
        easement along the Common Access Driveway and over the Company Tract for
        installing, operating, and maintaining utility facilities (as the same are
        described in that certain Reciprocal Easement Agreement by and between
        Protective Life Insurance Company and Wachovia Capital Investments, Inc.
        dated
        as of the 1st day of February, 2000, and recorded as Instrument #200004/0950,
        in
        the Probate Office of Jefferson County, Alabama, as amended by First Amendment
        to Reciprocal Easement Agreement dated as of September 1, 2004 and recorded
        as
        Instrument #200413/6654, in said Probate Office).

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      EXHIBIT
        B

       

      OWNERSHIP
        CERTIFICATE

       

      EFFECTIVE
        DATE OF OWNERSHIP CERTIFICATE:     ,
         

       

      THIS
        OWNERSHIP CERTIFICATE WAS ISSUED PURSUANT TO SECTION 2.01(b), SECTION 3.02
        OR
        SECTION 11.06 OF THE AMENDED AND RESTATED INVESTMENT AND PARTICIPATION AGREEMENT
        DATED AS OF JANUARY 11, 2007 (AS AMENDED, RESTATED OR SUPPLEMENTED OR OTHERWISE
        MODIFIED FROM TIME TO TIME, THE “INVESTMENT AGREEMENT”), AMONG PROTECTIVE LIFE
        INSURANCE COMPANY, AS THE COMPANY, WACHOVIA DEVELOPMENT CORPORATION, AS THE
        LESSOR, WACHOVIA BANK, NATIONAL ASSOCIATION, AS ADMINISTRATIVE AGENT, AND
        THE
        LEASE PARTICIPANTS PARTIES THERETO FROM TIME TO TIME, AND WAS ISSUED BY THE
        LESSOR THEREUNDER. EACH OWNERSHIP CERTIFICATE WHICH IS ISSUED BY THE LESSOR
        SUPERSEDES AND REPLACES ALL PRIOR OWNERSHIP CERTIFICATES, AND REFERENCE SHOULD
        BE MADE TO THE BOOKS AND RECORDS OF THE LESSOR MAINTAINED WITH THE
        ADMINISTRATIVE AGENT AT 301 S. COLLEGE STREET, MC 0174, CHARLOTTE, NORTH
        CAROLINA 28288, ATTENTION: GABRIELLE BRAVERMAN, TELEPHONE: 704-383-1967,
        FACSIMILE: 704-715-0065, FOR A DETERMINATION AS TO THE OWNERSHIP CERTIFICATE
        CURRENTLY IN EFFECT AT ANY TIME. CAPITALIZED TERMS USED HEREIN WITHOUT
        DEFINITION HAVE THE MEANINGS SET FORTH IN SCHEDULE 1.02 TO THE INVESTMENT
        AGREEMENT.

       

      I. TOTAL
        LESSOR INVESTMENTS: $75,000,000:

      

      II. A
        PERCENTAGE OWNERSHIP INTERESTS AND PERCENTAGE SHARES:

      

      
        	
                Funding
                  Party

              	
                A
                  Percentage Ownership Interest

              	
                A
                  Percentage Share

              	
                Percentage
                  of A Percentage Ownership Interest to all Lessor
                  Investments

              
	
                Lessor

              	 	 	 
	
                [Lease
                  Participant]

              	 	 	 
	
                [Lease
                  Participant]

              	 	 	 
	
                .
                  .
                  .

              	 	 	 
	
                [Lease
                  Participant]

              	 	 	 
	
                TOTAL

              	
                $[____]

              	
                [____]%

              	
                [____]%

              

      

      

      III. B
        PERCENTAGE OWNERSHIP INTERESTS AND PERCENTAGE SHARES:

      

      
        	
                Funding
                  Party

              	
                B
                  Percentage Ownership Interest

                Attributable
                  to the Non-Recourse Amount (and Related B Percentage
                  Share)

              	
                B
                  Percentage Ownership Interest

                In
                  Excess of the Non-Recourse Amount (and Related B Percentage
                  Share)

              	
                Overall
                  B Percentage Share

              	
                Percentage
                  of B Percentage Ownership Interest to all Lessor
                  Investments

              
	
                Lessor

              	 	 	 	 
	
                [Lease
                  Participant]

              	 	 	 	 
	
                [Lease
                  Participant]

              	 	 	 	 
	
                .
                  .
                  .

              	 	 	 	 
	
                [Lease
                  Participant]

              	 	 	 	 
	
                TOTAL

              	
                $[____]

              	
                $[____]

              	
                [____]%

              	
                [____]%

              

      

      

       

      WACHOVIA
        DEVELOPMENT CORPORATION, as Lessor, by WACHOVIA BANK, NATIONAL ASSOCIATION,
        as
        Administrative Agent

       

      

       

      

       

      By:
        

      Name:

      Title:

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      

       

      EXHIBIT
        C

       

      FORM
        OF ASSIGNMENT AND ACCEPTANCE

       

      ASSIGNMENT
        AND ACCEPTANCE

       

      Dated
        ___________, _____

       

      Reference
        is made to the Amended and Restated Investment and Participation Agreement,
        dated as of January 11, 2007 (as the same may be amended, supplemented or
        otherwise modified from time to time, the “Investment
        Agreement”)
        among
        Protective Life Insurance Company, a Tennessee corporation (the “Company”),
        the
        Lease Participants parties thereto (the “Lease
        Participant”),
        Wachovia Bank, National Association, as Administrative Agent (the
“Administrative Agent”), and Wachovia Development Corporation, as Lessor (the
“Lessor”).
        Terms
        defined in the Investment Agreement are used herein with the same
        meaning.

       

      ______________________________
        (the “Assignor”)
        and
        _______________________ (the “Assignee”)
        agree
        as follows:

       

      The
        Assignor hereby sells and assigns to the Assignee, and the Assignee hereby
        purchases and assumes from the Assignor, the A Percentage Ownership Interest
        and
        B Percentage Ownership Interest, as applicable, in and to all of the Assignor’s
        rights and obligations under the Investment Agreement as of the date hereof
        which represents the A Percentage Share and B Percentage Share, as applicable,
        specified on Schedule 1 of all outstanding rights and obligations under the
        Investment Agreement, including without limitation, such A Percentage Ownership
        Interest and B Percentage Ownership Interest, as applicable. After giving
        effect
        to such sale and assignment, Assignor’s A Percentage Ownership Interest and B
        Percentage Ownership Interest will be as set forth in Section 2 of Schedule
        1.

       

      The
        Assignor (i) represents and warrants that it is the legal and beneficial
        owner
        of the Ownership Interest being assigned by it hereunder and that such interest
        is free and clear of any adverse claim; (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 Investment Agreement or
        any
        other Operative Document or the execution, legality, validity, enforceability,
        genuineness, sufficiency or value of the Investment Agreement or any other
        Operative Document or 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 Guarantor or the Company, or the
        performance or observance by the Guarantor or the Company of any of their
        obligations under the Investment Agreement or any other Operative Document
        or
        other instrument or document furnished pursuant thereto.

       

      The
        Assignee (i) confirms that it has received a copy of the Investment Agreement
        and each other Operative Document, together with copies of the financial
        statements referred to in Section 8.01 of the Investment Agreement and such
        other documents and information as it has deemed appropriate to make its
        own
        credit analysis and decision to enter into this Assignment and Acceptance;
        (ii)
        agrees that it will, independently and without reliance upon the Lessor,
        the
        Assignor or any other Lease Participant 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 Investment Agreement
        or any other Operative Document; (iii) confirms that it is an Eligible Assignee;
        (iv) appoints and authorizes the Lessor as its agent to take such action
        as
        agent on its behalf and to exercise such powers under the Investment Agreement
        and the other Operative Documents as are delegated to the Lessor by the terms
        thereof, together with such powers as are reasonably incidental thereto;
        (v)
        assumes the Lease Participant Commitment of the Assignor to the extent of
        the
        Ownership Interest assigned to it pursuant hereto and agrees that it will
        perform in accordance with their terms all of the obligations which by the
        terms
        of the Investment Agreement are required to be performed by it as a Lease
        Participant; [and] (vi) specifies as its address for notices the address
        set
        forth beneath its name on the signatures pages hereof [and (vii) attaches
        the
        forms prescribed by the Internal Revenue Service of the United States certifying
        as to the Assignee’s status for purposes of determining exemption from United
        States withholding taxes with respect to all payments to be made to the Assignee
        under the Investment Agreement, or such other documents as are necessary
        to
        indicate that all such payments are subject to such rates at a rate reduced
        by
        an applicable tax treaty].1 

       

      Following
        the execution of this Assignment and Acceptance by the Assignor and the
        Assignee, it will be delivered to the Administrative Agent (on Lessor’s behalf)
        for the consent by the Lessor and recording by the Administrative Agent.
        The
        effective date of this Assignment and Acceptance shall be the date of consent
        hereto by the Lessor, unless otherwise specified on Schedule 1 hereto (the
        “Effective
        Date”).
        If
        the Lessor refuses to consent to this Assignment and Acceptance (which it
        has
        the right to do, in its sole discretion), this Assignment and Acceptance
        shall
        be null and void.

       

      Upon
        such
        consent hereto and recording by the Lessor, as of the Effective Date, (i)
        the
        Assignee shall be a party to the Investment Agreement as an A Percentage
        Lease
        Participant and/or B Percentage Lease Participant, as applicable, and, to
        the
        extent provided in this Assignment and Acceptance, have the rights and
        obligations of an A Percentage Lease Participant and/or B Percentage Lease
        Participant thereunder and under the other Operative Documents, and (ii)
        the
        Assignor shall, to the extent provided in this Assignment and Acceptance,
        relinquish its rights and obligations and be released from its Ownership
        Interests under the Investment Agreement and the other Operative
        Documents.

       

      Upon
        such
        consent and recording by the Lessor, from and after the Effective Date, the
        Lessor (or the Administrative Agent on behalf of the Lessor) shall make all
        payments under the Investment Agreement in respect of the Ownership Interest
        assigned hereby (including, without limitation, all payments of Rent, principal
        and Yield with respect thereto) to the Assignee. The Assignor and Assignee
        shall
        make all appropriate adjustments in payments under the Investment Agreement
        for
        periods prior to the Effective Date directly between themselves.

       

      THIS
        ASSIGNMENT AND ACCEPTANCE 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 and Acceptance
        to be executed by their respective officers thereunto duly authorized, as
        of the
        date first above written, such execution being made on Schedule 1
        hereto.

       

      Assignor:

      

      

      By:
        

      Name:

      Title:

      

      

      Assignee:

      

      By:
        

      Name:

      Title:

      Consented
        to:

       

      Wachovia
        Development Corporation, as Lessor

       

      

       

      By:       

       

      Title:

       

      

      Protective
        Life Insurance Company, as the Company

      [If
        required by Investment Agreement]

      

      

      

      By:       

      Title:

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      Schedule
        1

       

      to

       

      Assignment
        and Acceptance

       

      Dated
        ___________, ____

       

      Section
        1.

      

      A
        Percentage Share assigned to Assignee: [____]%

      

      Overall
        B
        Percentage Share assigned

      to
        Assignee:    [____]%

      

      Aggregate
        Outstanding Principal Amount

      of
        A
        Percentage Lessor Investments 

      assigned
        to Assignee:   $[_______________]
        

      

      Aggregate
        Outstanding Principal Amount

      of
        B
        Percentage Lessor Investments 

      assigned
        to Assignee:   $[_______________]
        

      

      Section
        2.

      

      A
        Percentage Share retained by Assignor: [____]%

       

      Overall
        B
        Percentage Share retained

      by
        Assignor:    [____]% 

      

      Aggregate
        Outstanding Principal Amount

      of
        A
        Percentage Lessor Investments

      retained
        by Assignor:   $[_______________]
        

      

      Aggregate
        Outstanding Principal Amount

      of
        B
        Percentage Lessor Investments 

      Attributable
        to the Non-Recourse Amount

      retained
        by Assignor:   $[_______________]
        

      

      Aggregate
        Outstanding Principal Amount

      of
        B
        Percentage Lessor Investments 

      In
        Excess
        of the Non-Recourse Amount

      retained
        by Assignor:   $[_______________]
        

      

      

      Section
        3* .

      

      Effective
        Date:      [____________
        ___], 200[__]

      

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      EXHIBIT
        D

       

      FORM
        OF
        LEGAL OPINION OF COUNSEL

       

      TO
        THE
        COMPANY AND THE GUARANTOR

       

      [PREPARED
        SEPARATELY]

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      EXHIBIT
        E

       

      FORM
        OF
        COMPLIANCE CERTIFICATE

       

      Reference
        is made to the Amended and Restated Investment and Participation Agreement
        dated
        as of January 11, 2007 (as amended, restated, supplemented, or otherwise
        modified from time to time, the “Investment
        Agreement”) by
        and among Protective Life Insurance Company, as the Company, the Lease
        Participants from time to time parties thereto, Wachovia Bank, National
        Association, as Administrative Agent, and Wachovia Development Corporation,
        as
        Lessor. Capitalized terms used herein shall have the meanings ascribed thereto
        in the Investment Agreement; all amounts shown herein, unless expressly set
        forth to the contrary, shall be without duplication.

       

      Pursuant
        to Section 8.01(iii) of the Investment Agreement, _____________, the
        duly authorized __________ of the Guarantor, hereby (i) certifies to the
        Lessor and the Lease Participants that the information contained in Schedule
        1
        attached hereto is true, accurate and complete as of _________, _____, and
        that,
        to the best of our knowledge, no Default is in existence on and as of the
        date
        hereof, (ii) restates and reaffirms that the representations and warranties
        contained in Article VII of the Investment Agreement are true on and as of
        the
        date hereof as though restated on and as of this date (except to the extent
        any
        such representation or warranty is expressly made as of a prior date) and
        (iii)
        certifies that the Debt Rating as of the date of this Compliance Certificate
        [has not changed from the prior Performance Pricing Determination Date] [has
        changed to ____ by Moody’s and ___ by S&P and
        the
        Applicable Margin in effect as a result thereof is ___%] .

       

      PROTECTIVE
        LIFE CORPORATION,

       

      a
        Delaware corporation

       

      

       

      

       

      

       

      By:
        

       

      Its:
        

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      SCHEDULE
        I TO COMPLIANCE CERTIFICATE

       

      Schedule
        of Compliance as of ________________

       

      with
        provisions of 8.04, 8.19, 8.24, 8.25, 8.26 and 8.27 of the
        Agreement

       

      
        	
                1. Section
                  8.04 - Sales of Assets

              	 
	 	 	 
	
                A. Aggregate
                  amount of assets sold during fiscal quarter just ended

                 

              	 	 
	
                B. Aggregate
                  amount of assets sold during 3 prior fiscal quarters

                 

              	 	 
	
                C. Sum
                  of A and B

                 

              	 	 
	
                D. Consolidated
                  Total Assets

                 

              	 	 
	
                E. 15%
                  of D

                 

              	 	 
	
                Limitation:
                  C may not exceed E

                 

              	 	 
	
                Complies
                  ________  Does
                  Not Comply ________

                 

              	 
	 	 
	 	 
	
                2. Section
                  8.19 - Liens on Properties other than the
                  Facility

              	 
	 	 	 
	
                A. Amount
                  secured by Liens not permitted by items (a) through (l) of clause
                  (ii) of
                  the definition of Permitted Liens

                 

              	 	 
	
                B. Adjusted
                  Consolidated Net Worth (from line C of Paragraph 3 below)

                 

              	 	 
	
                C. 15%
                  of B

                 

              	 	 
	
                Limitation:
                  A may not exceed C

                 

              	 	 
	
                Complies
                  ________  Does
                  Not Comply ________

                 

              	 
	 	 	 
	
                3. Section
                  8.24 - Adjusted Consolidated Net Worth

              	 
	 	 	 
	
                A. Consolidated
                  Net Worth

                 

              	 	 
	
                B. Adjustments,
                  if any, for unrealized net gains and losses on assets held for
                  sale
                  pursuant to SFAS No. 115 and other accumulated comprehensive income
                  pursuant to SFAS No. 133

                 

              	 	 
	
                C. Adjusted
                  Consolidated Net Worth (A excluding B)

                 

              	 	 
	
                D. $1,400,000,000

                 

              	 	
                $1,400,000,000

                 

              
	
                E. Cumulative
                  Consolidated Net Income earned after December 31, 2003 (if
                  positive)

                 

              	 	 
	
                F. 25%
                  of E

                 

              	 	 
	
                G. Consolidated
                  allowance for uncollectible amounts on investments

                 

              	 	 
	
                H. D
                  plus F minus G

                 

              	 	 
	
                I. C
                  minus H

                 

                (Must
                  be greater than or equal to 0)

                 

              	 	 
	
                Complies
                  ________  Does
                  Not Comply ________

                 

              
	 	 
	
                4. Section
                  8.25 - Ratio of Adjusted Consolidated Indebtedness

                to
                  Consolidated Capitalization

              	 
	 	 
	
                A. Consolidated
                  Indebtedness

                 

              	 
	
                1. 

                 

                Borrowed
                  money, obligations secured by liens and obligations evidenced by
                  notes
                  acceptances, and other instruments

                 

              	
                _____________

                 

              	 
	
                2. Deferred
                  purchase of property or services

                 

              	 	 
	
                3. Capitalized
                  Lease Obligations

                 

              	 	 
	
                4. Synthetic
                  Lease Obligations 

                 

              	 	 
	
                5. Letters
                  of Credit

                 

              	 	 
	
                6. Guaranteed
                  Obligations

                 

              	 	 
	
                B. Short-Term
                  Indebtedness for advance fundings of guaranteed investment contracts,
                  annuities and other similar insurance and investment products

                 

              	 	 
	
                C. Adjusted
                  Consolidated Indebtedness 

                 

                (A
                  minus B)

                 

              	 	 
	
                D. Consolidated
                  Capitalization

                 

              	 	 
	
                1. Adjusted
                  Consolidated Net Worth

                 

              	 	 
	
                2. Adjusted
                  Consolidated Indebtedness

                 

              	 	 
	
                3. Sum
                  of D.1 and D.2

                 

              	 	 
	
                E. Ratio
                  of C to D.3

                 

              	 	
                ___
                  : 1.0

                 

              
	
                F. Permitted
                  Ratio

                 

              	 	
                Less
                  than

                 

                0.40
                  : 1.00

                 

              
	
                Complies
                  ________  Does
                  Not Comply ________

                 

              
	 
	
                5. Section
                  8.26 - Ratio of Unconsolidated Cash Inflow Available for Interest
                  Expense
                  to Adjusted Consolidated Interest Expense

              	 	 
	 	 	 
	
                A. Unconsolidated
                  Cash Inflow Available for Interest Expense (for most recent fiscal
                  quarter)

                 

              	 	 
	
                1. Interest
                  and principal received by Guarantor from Subsidiaries during
                  quarter

                 

              	 	 
	
                i. Interest

                 

              	 	 
	
                ii. Principal

                 

              	 	 
	
                2. Gross
                  management fees received by Guarantor from Subsidiaries during
                  quarter
                  

                 

              	 	 
	
                3. Guarantor’s
                  operating and administrative expenses during quarter (excluding
                  interest
                  expense)

                 

              	 	 
	
                4. Net
                  management fees received by Guarantor from Subsidiaries during
                  quarter (2
                  minus 3)

                 

              	 	 
	
                5. Dividends
                  available to be distributed by Subsidiaries to Guarantor during
                  this year
                  (see attached Exhibit A)

                 

              	 	 
	
                6. A.5
                  divided by 4

                 

              	 	 
	
                7. Other
                  income (investment income - $_____ Miscellaneous - $____

                 

              	 	 
	
                8. Sum
                  of A.1, A.4, A.6 and A.7

                 

              	 	 
	
                B. Consolidated
                  Interest Expense

                 

              	 	 
	
                C. Interest
                  on Short-Term Indebtedness for advance fundings of guaranteed investment
                  contracts, annuities and other similar insurance and investment
                  products

                 

              	 	 
	
                D. Adjusted
                  Consolidated Interest Expense (B minus C)

                 

              	 	 
	
                E. Ratio
                  of A.8 to D

                 

              	 	
                __
                  : 1.0

                 

              
	
                F. Permitted
                  Ratio

                 

              	
                Greater
                  than 2.00 : 1.00

                 

              
	
                Complies
                  ________  Does
                  Not Comply ________

                 

              
	 	 
	
                6. Section
                  8.27 - Company’s Total Adjusted Capital

              	 
	 	 	 
	
                A. Company’s
                  Total Adjusted Capital

                 

                (See
                  attached Exhibit B)

                 

              	 	 
	
                B. Company’s
                  Authorized Control Level Risk-Based Capital

                 

              	 	 
	
                C. 4.0
                  times B

                 

              	 	 
	
                D. A
                  minus C (must be greater than or equal to 0)

                 

              	 	 
	
                Complies
                  ________  Does
                  Not Comply ________

                 

              	 

      

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      EXHIBIT
        A

       

      
        	
                Dividends
                  Available to be Distributed

                 

              	
                [Quarter
                  end date]

                 

              
	
                Protective
                  Life Insurance Company

                 

              	 
	
                Prior
                  Year Stat Net Gain from Operations

                 

              	
                $___________

                 

              
	
                Prior
                  Year End 10% of Policyholder Surplus

                 

              	
                $___________

                 

              
	
                Greater
                  of Above

                 

              	
                $                      

                 

              
	
                Year-to-Date
                  Dividends Actually Distributed

                 

              	 
	
                Protective
                  Life Insurance Company

                 

              	
                $___________

                 

              
	
                Protective
                  Life and Annuity Insurance Company

                 

              	
                $___________

                 

              
	
                Investment
                  Distributors Advisory Services, Inc.

                 

              	
                $___________

                 

              
	
                National
                  Health Care Systems, Inc.

                 

              	
                $___________

                 

              
	
                United
                  Dental Care Inc.

                 

              	
                $___________

                 

              
	 	 

      

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      EXHIBIT
        B

       

      [VERIFY
        LIST OF COMPANIES]

       

      
        	
                Total
                  Adjusted Capital

                 

              	
                [Quarter
                  end date]

                 

              
	
                Protective
                  Life Insurance Company

                 

              	 
	
                Capital
                  and Surplus

                 

              	
                $____________

                 

              
	
                Asset
                  Valuation Reserve

                 

              	
                ____________

                 

              
	
                American
                  Foundation Life Insurance Company

                 

              	 
	
                Capital
                  and Surplus

                 

              	
                ____________

                 

              
	
                Asset
                  Valuation Reserve

                 

              	
                ____________

                 

              
	
                Empire
                  General Life Assurance Corporation

                 

              	 
	
                Capital
                  and Surplus

                 

              	
                ____________

                 

              
	
                Asset
                  Valuation Reserve

                 

              	
                ____________

                 

              
	
                Wisconsin
                  National Life Insurance Company

                 

              	 
	
                Capital
                  and Surplus

                 

              	
                ____________

                 

              
	
                Asset
                  Valuation Reserve

                 

              	
                ____________

                 

              
	
                Protective
                  Life Insurance Company of Kentucky

                 

              	 
	
                Capital
                  and Surplus

                 

              	
                ____________

                 

              
	
                Asset
                  Valuation Reserve

                 

              	
                ____________

                 

              
	
                Capital
                  Investors Life Insurance Company

                 

              	 
	
                Capital
                  and Surplus

                 

              	
                ____________

                 

              
	
                Asset
                  Valuation Reserve

                 

              	
                ____________

                 

              
	
                Western
                  Diversified

                 

              	 
	
                Capital
                  and Surplus

                 

              	
                ____________

                 

              
	
                Asset
                  Valuation Reserve

                 

              	
                ____________

                 

              
	
                West
                  Coast Life Insurance Company 

                 

              	 
	
                Capital
                  and Surplus

                 

              	
                ____________

                 

              
	
                Asset
                  Valuation Reserve

                 

              	
                ____________

                 

              
	
                Protective
                  Life Insurance Co of Ohio

                 

              	 
	
                Capital
                  and Surplus

                 

              	
                ____________

                 

              
	
                Asset
                  Valuation Reserve

                 

              	
                ____________

                 

              
	
                Eliminate
                  life subsidiary capital included in Company capital

                 

              	
                ____________

                 

              
	 	
                $                        

                 

              

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      EXHIBIT
        F

       

      FORM
        OF
        AMENDED AND RESTATED GUARANTY

       

      [DELIVERED
        SEPARATELY]

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      EXHIBIT
        G

       

      FORM
        OF
        LESSOR CONFIRMATION LETTER

       

      [DELIVERED
        SEPARATELY]

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      SCHEDULE
        1.02

       

      Defined
        Terms

       

      The
        following terms shall have the following meanings when used in the “Investment
        Agreement”, the “Lease”, the “Guaranty,” and all other “Operative Documents”
(all terms defined in the singular to have the same meanings when used in
        the
        plural and vice versa):

       

      “A
        Percentage Lease Participant”:
        any
        Person who is listed on the signature pages of the Investment Agreement as
        having an A Percentage Lessor Investment greater than $0.00, or who from
        time to
        time becomes an A Percentage Lease Participant pursuant to an Assignment
        and
        Acceptance by accepting assignment of an A Percentage Lessor Investment greater
        than $0.00; collectively, the “A
        Percentage Lease Participants.”

       

      “A
        Percentage Lessor Investments”:
        as of
        the Restatement Closing Date, that portion of the Lessor Investments in an
        amount equal to 66.66667% of the Facility Cost, as such amount may be reduced
        from time to time by payments of principal attributable to the A Percentage
        Lessor Investments.

       

      “A
        Percentage Ownership Interest”:
        an
        undivided ownership interest, in an amount equal to a given A Percentage
        Lease
        Participant’s A Percentage Share, in the Lessor's rights in the A Percentage
        Lessor Investments, and in all rights to payments of Rent, Yield, Supplemental
        Rent (except fees payable pursuant to Section 2.04(c) of the Investment
        Agreement) and other amounts payable with respect thereto under the Agreement,
        the Lease and the other Operative Documents, and with reference to the Lessor
        and each A Percentage Lease Participant, its Ownership Interest in the A
        Percentage Lessor Investments, and such rights to payment, after giving effect
        to the sale by the Lessor to, and the purchase by such A Percentage Lease
        Participant of, an A Percentage Ownership Interest pursuant to Section 2.01(b),
        or to the assignment by an A Percentage Lease Participant pursuant to an
        Assignment and Acceptance, in each case as set forth in the most recent
        Ownership Certificate. The title of the Lessor in and to the Facility shall
        be
        held in trust by the Lessor for the A Percentage Lease Participants, to the
        extent of their respective A Percentage Ownership Interests, subject to the
        Lease, and in the event the Facility is sold (either to the Lessee or a third
        party, pursuant to Section 15 of the Lease or upon the exercise by the Lessor
        of
        rights and remedies pursuant to Section 26 of the Lease), the net sale proceeds
        thereof also shall be held in trust by the Lessor for the A Percentage Lease
        Participants, to the extent of their respective A Percentage Ownership
        Interests.

       

      “A
        Percentage Share”:
        for
        Lessor and each A Percentage Lease Participant, the percentage which its
        A
        Percentage Ownership Interest bears to all of the A Percentage Ownership
        Interests.

       

      “A
        Percentage Yield”:
        all
        Yield accruing from time to time with respect to the A Percentage Lessor
        Investments. 

       

      “Adjusted
        Consolidated Indebtedness”:
        (i)
        Consolidated Indebtedness, less (ii) Short-Term Indebtedness for advance
        fundings of guaranteed investment contracts, annuities and other similar
        insurance and investment products.

       

      “Adjusted
        Consolidated Interest Expense”:
        for
        any period of calculation, (i) Consolidated Interest Expense, less (ii) interest
        on Short-Term Indebtedness for advance fundings of guaranteed investment
        contracts, annuities and other similar insurance and investment
        products.

       

      “Adjusted
        Consolidated Net Worth”:
        at any
        date of determination, Consolidated Net Worth excluding all unrealized net
        losses and gains on assets held for sale pursuant to SFAS 115 and other
        accumulated comprehensive income pursuant to SFAS No. 133, to the extent
        such
        unrealized net losses and gains have been taken into account in determining
        Consolidated Net Worth.

       

      “Adjusted
        LIBO Rate”:
        with
        respect to any Yield Period, a rate per annum equal to the quotient obtained
        (rounded upwards, if necessary, to the next higher 1/100th of 1%) by dividing
        (i) the applicable LIBO Rate for such Yield Period by (ii) 1.00 minus the
        Eurodollar Reserve Percentage.

       

      “Administrative
        Agent”:
        Wachovia Bank, National Association, together with its successors and
        assigns.

       

      “Administrative
        Supplemental Rent”:
        as
        defined in Section 2.04(c) of the Investment Agreement.

       

      “Affiliate”:
        with
        respect to the Guarantor or the Company, as the case may be, (i) any Person
        that, directly or indirectly, through one or more intermediaries, controls
        the
        Guarantor or the Company, as the case may be (a “Controlling
        Person”),
        (ii)
        any Person (other than the Guarantor, the Company or another Subsidiary)
        which
        is controlled by or is under common control with a Controlling Person, or
        (iii)
        any Person (other than a Subsidiary) of which the Guarantor owns,
        directly or indirectly, 10% or more of the common stock or equivalent equity
        interests. As used herein, the term “control” means the possession, directly or
        indirectly, of the power to direct or cause the direction of the management
        or
        policies of a Person, whether through the ownership of voting securities,
        by
        contract or otherwise.

       

      “Annual
        Statement”:
        the
        annual statutory financial statement of any Insurance Subsidiary required
        to be
        filed with the insurance commissioner (or similar authority) of its jurisdiction
        of incorporation, which statement shall be in the form required by such
        Insurance Subsidiary’s jurisdiction of incorporation or, if no specific form is
        so required, in the form of financial statements recommended by the NAIC
        to be
        used for filing annual statutory financial statements and shall contain the
        type
        of information recommended by the NAIC to be disclosed therein, together
        with
        all exhibits or schedules filed therewith.

       

      “Anti-Terrorism
        Law”:
        the
        USA Patriot Act or any other statute, regulation, executive order, or other
        law
        pertaining to the prevention of future acts of terrorism, in each case as
        such
        law may be amended from time to time.

       

      “Applicable
        Funding Office”:
        for
        each Funding Party, the funding office of such Funding Party (or an affiliate
        of
        such Funding Party) designated for any Lessor Investments or Lease Participant
        Investments on the signature pages of the Investment Agreement (or in an
        Assignment and Acceptance executed by a Lease Participant pursuant to Section
        11.06 of the Investment Agreement) or such other offices of such Funding
        Party
        (or of an affiliate of such Funding Party) as such Funding Party may from
        time
        to time specify to the Administrative Agent on behalf of Lessor (if Lessor
        is
        not such Funding Party) and the Company as the office by which its Lessor
        Investments or Lease Participant Investments, as applicable, are to be made
        and
        maintained.

       

      “Applicable
        Margin”:
        with
        respect to the Lessor Investments and Lease Participant Investments, as
        applicable, the applicable rate per annum determined in accordance with the
        Pricing Schedule.

       

      “Applicable
        Permit”:
        any
        Permit that is or may be necessary to own, renovate, construct, install,
        start-up, test, maintain, modify, expand, remove, operate, lease or use all
        or
        any part of the Facility (including, without limitation, the Site or any
        business conducted on or related to the Facility or the Site) in accordance
        with
        the Operative Documents, and the failure to obtain or maintain which would
        have
        a Material Adverse Effect.

       

      “Approved
        Appraisal”:
        any
        appraisal, ordered by the Lessor, but at the Company’s cost, from an appraiser
        or appraisers reasonably acceptable to the Lessor, Arranger (with respect
        to the
        Approved Appraisal required for the Restatement Closing Date), and the Agent,
        which: (i) complies with Title XI of the Financial Institutions Reform, Recovery
        and Enforcement Act of 1989, as amended, 12 U.S.C. 3331, et seq., and The
        Regulations and Statements of General Policy on Appraisals promulgated by
        the
        Federal Deposit Insurance Corporation, 12 C.F.R. Part 32, as amended, (ii)
        is
        performed by a state-certified real estate appraiser certified under the
        laws of
        any State, (iii) reflects the Market Value of the Facility, and (iv) estimates
        the Market Value of the Facility as of the expiration of the Basic
        Term.

       

      “Arranger’s
        Supplemental Rent”:
        as
        defined in Section 2.04(c) of the Investment Agreement.

       

      “Assignment
        and Acceptance”:
        an
        Assignment and Acceptance, in the form of Exhibit
        C
        to the
        Investment Agreement entered into by a Lease Participant and an Eligible
        Assignee.

       

      “Authorized
        Officers”:
        with
        respect to the Guarantor or the Company, the officers whose signatures and
        incumbency shall have been certified to the Lessor in a certificate certified
        by
        the Secretary or an Assistant Secretary of the Guarantor or the Company,
        as
        applicable, in form and substance reasonably satisfactory to the Lessor that
        are
        authorized to sign the Lease and the other Operative Documents to which the
        Company is a party and, until replaced by another Authorized Officer duly
        authorized for that purpose, to act as its respective representative for
        the
        purposes of signing documents and giving notices and other communications
        in
        connection with the Lease and the Operative Documents to which it is a
        party.

       

      “B
        Percentage Lease Participant”:
        any
        Person who is listed on the signature pages to the Investment Agreement as
        having a B Percentage Lessor Investment greater than $0.00, or who from time
        to
        time becomes a B Percentage Lease Participant pursuant to an Assignment and
        Acceptance by accepting a B Percentage Lessor Investment greater than $0.00;
        collectively, the “B
        Percentage Lease Participants.”

       

      “B
        Percentage Lessor Investments”:
        as of
        the Restatement Closing Date, that portion of the Lessor Investments in an
        amount equal to 33.33333% of the Facility Cost, as such amount may be reduced
        from time to time by payments of principal attributable to the B Percentage
        Lessor Investments. As of the Restatement Closing Date, the B Percentage
        Lessor
        Investments shall include all of the Non-Recourse Amount; provided, however,
        that a portion of the B Percentage Lessor Investments may be in excess of
        the
        Non-Recourse Amount. 

       

      “B
        Percentage Ownership Interest”:
        an
        undivided ownership interest, in an amount equal to a given B Percentage
        Lease
        Participant’s B Percentage Share, in the Lessor's rights in the B Percentage
        Lessor Investments, and in all rights to payments of Rent, Yield, Supplement
        Rent (except fees payable pursuant to Section 2.04(c) of the Investment
        Agreement) and other amounts payable with respect thereto under the Agreement,
        the Lease and the other Operative Documents, and with reference to the Lessor
        and each B Percentage Lease Participant, its Ownership Interest in the B
        Percentage Lessor Investments, and such rights to payment, after giving effect
        to the sale by the Lessor to, and the purchase by such B Percentage Lease
        Participant of, a B Percentage Ownership Interest pursuant to Section 2.01(b),
        or to the assignment by a B Percentage Lease Participant pursuant to an
        Assignment and Acceptance, in each case as set forth in the most recent
        Ownership Certificate. The title of the Lessor in and to the Facility shall
        be
        held in trust by the Lessor for the B Percentage Lease Participants, to the
        extent of their respective B Percentage Ownership Interests, subject to the
        Lease, and in the event the Facility is sold (either to the Lessee or a third
        party, pursuant to Section 15 of the Lease or upon the exercise by the Lessor
        of
        rights and remedies pursuant to Section 26 of the Lease), the net sale proceeds
        thereof also shall be held in trust by the Lessor for the B Percentage Lease
        Participants, to the extent of their respective B Percentage Ownership
        Interests.

       

      “B
        Percentage Share”:
        as to
        Lessor or any given B Percentage Lease Participant and based on the context
        in
        which such term is used:

       

      (i) the
        percentage by which such Person’s B Percentage Lessor Investments in excess of
        the Non-Recourse Amount bear to all other B Percentage Lessor Investments
        in
        excess of the Non-Recourse Amount (with this subclause (i) being applicable
        in
        all instances where the allocation of rights or interests among the various
        B
        Percentage Lease Participants corresponds to that portion of the B Percentage
        Lessor Investments in excess of the Non-Recourse Amount); 

       

      (ii) the
        percentage by which such Person’s B Percentage Lessor Investments attributable
        to the Non-Recourse Amount bear to all other B Percentage Lessor Investments
        attributable to the Non-Recourse Amount (with this subclause (ii) being
        applicable in all instances where the allocation of rights or interests among
        the various B Percentage Lease Participants corresponds to that portion of
        the B
        Percentage Lessor Investments attributable to the Non-Recourse Amount); and
        

       

      (iii) the
        percentage by which such Person’s B Percentage Lessor Investments bear to all B
        Percentage Lessor Investments (with this subclause (iii) being applicable
        in all
        instances where the allocation of rights or interests among the various B
        Percentage Lease Participants does not correspond to any portion of the
        applicable B Percentage Lessor Investments being attributable to, or in excess
        of, the Non-Recourse Amount).

       

      “B
        Percentage Yield”:
        all
        Yield accruing from time to time with respect to the B Percentage Lessor
        Investments. 

       

      “Banking
        Authority”:
        as
        defined in Section 5.02 of the Investment Agreement.

       

      “Base
        Rate”:
        for
        any day, the rate per annum equal to the higher as of such day of (i) the
        Prime
        Rate, and (ii) one-half of one percent above the Federal Funds Rate. For
        purposes of determining the Base Rate for any day, changes in the Prime Rate
        shall be effective on the date of each such change.

       

      “Basic
        Rent”:
        with
        respect to any Rental Period during the Basic Term, for each day during such
        Rental Period (whether or not a Business Day), the amount of all Yield
        (excluding Yield on Supplemental Rent payable pursuant to Section 2.04) accruing
        for such day pursuant to and in accordance with the Investment
        Agreement.

       

      “Basic
        Term”:
        with
        respect to the Lease, and subject to the terms and conditions set forth therein
        and in the other Operative Documents, the period commencing on the Lease
        Commencement Date and ending on the earlier to occur of (i) the Option Date,
        (ii) the Cancellation Date, or (iii) the Scheduled Lease Termination
        Date.

       

      “Blocked
        Person”:
        as
        defined in Section 7.01(t)(ii) of the Investment Agreement. 

       

      “Business
        Day”:
        (i)
        for all purposes other than as set forth in clause (ii) below, any day except
        Saturday, Sunday or other day on which commercial banks in Charlotte, North
        Carolina, or Birmingham, Alabama, are authorized or required by law or other
        government action to close, and (ii) with respect to all notices and
        determinations in connection with, and payments of principal of and interest
        on,
        the Lessor Investments, and notices and determinations in connection with
        and
        payments of Basic Rent, any day that is a Business Day described in clause
        (i)
        above and that is also a day for trading by and between banks in the London
        interbank eurodollar market.

       

      “Cancellation
        Date”:
        as
        defined in Section 15(b) of the Lease.

       

      “Cancellation
        Event”:
        as
        defined in Section 15(b) of the Lease, and shall include a Loss
        Event.

       

      “Capitalized
        Lease Obligations”:
        of a
        Person means the amount of the obligations of such Person under leases that
        would be shown as a liability on a balance sheet such Person prepared in
        accordance with GAAP, including obligations under the Lease.

       

      “Capital
        Stock”:
        any
        nonredeemable capital stock, membership interests or partnership interests
        of
        the Guarantor or any Consolidated Subsidiary (to the extent issued to a Person
        other than the Guarantor), whether common or preferred.

       

      “Casualty
        Occurrence”:
        any of
        the following events in respect of the Facility, (i) any material loss of
        the
        Facility or material loss of use thereof which does not constitute a Loss
        Event,
        or (ii) the condemnation, confiscation or seizure of, or requisition of title
        to
        or use of, any material part of the Facility which action does not constitute
        a
        Loss Event.

       

      “CERCLA”:
        the
        Comprehensive Environmental Response Compensation and Liability Act, 42 U.S.C.
§
9601 et. seq., and its implementing regulations and amendments.

       

      “CERCLIS”:
        the
        Comprehensive Environmental Response Compensation and Liability Inventory
        System
        established pursuant to CERCLA.

       

      “Change
        of Control”:
        the
        acquisition by any Person, or two or more Persons acting in concert, of
        beneficial ownership (within the meaning of Rule 13d-3 of the Securities
        and
        Exchange Commission under the Securities Exchange Act of 1934) of 35% or
        more of
        the outstanding shares of voting stock of the Guarantor.

       

      “Change
        of Law”:
        as
        defined in Section 5.02 of the Investment Agreement.

       

      “Code”:
        the
        Internal Revenue Code of 1986, as amended, and any successor Federal tax
        code.

       

      “Collateral”:
        as
        defined in Section 26 of the Lease.

       

      “Co-Lessee”:
        as
        defined in Section 21(b) of the Lease.

       

      “Company”:
        Protective Life Insurance Company, a Tennessee corporation, and its successors,
        and such term shall refer to it, as the context shall require, as (i) the
        Company hereunder, or (ii) as the Lessee under the Lease.

       

      “Company
        Agents”:
        as
        defined in Section 11.03(b) of the Investment Agreement.

       

      “Compliance
        Certificate:
        as
        defined in Section 8.01(iii) of the Investment Agreement.

       

      “Consolidated
        Capitalization”:
        at any
        date of determination, the sum of (i) Adjusted Consolidated Net Worth as
        at such
        date plus (ii) Adjusted Consolidated Indebtedness as at such time.

       

      “Consolidated
        Indebtedness”:
        the
        Indebtedness of the Guarantor and the Subsidiaries determined on a consolidated
        basis in accordance with GAAP.

       

      “Consolidated
        Interest Expense”:
        for
        any period of calculation, interest expense, whether paid or accrued, of
        the
        Guarantor and the Subsidiaries calculated on a consolidated basis in accordance
        with GAAP.

       

      Consolidated
        Net Income”:
        for
        any period of calculation, the net income of the Guarantor and the Subsidiaries
        calculated on a consolidated basis in accordance with GAAP.

       

      “Consolidated
        Net Worth”:
        at any
        date of determination, the amount of consolidated common shareholders’ equity of
        the Guarantor and the Subsidiaries, determined as at such date in accordance
        with GAAP (or SAP, with respect to the Insurance Subsidiaries).

       

      “Consolidated
        Subsidiary”:
        a
        Subsidiary, the accounts of which are customarily consolidated with those
        of the
        Guarantor, for the purpose of reporting to stockholders of the Guarantor,
        or to
        the Lessor and each of the Lease Participants, or, in the case of a recently
        acquired Subsidiary, the accounts of which would, in accordance with the
        Guarantor’s regular practice, be so consolidated for that purpose.

       

      “Consolidated
        Total Assets”:
        at any
        time, the total assets of the Guarantor and the Consolidated Subsidiaries,
        determined on a consolidated basis, as set forth or reflected on the most
        recent
        consolidated balance sheet of the Guarantor and the Consolidated Subsidiaries,
        prepared in accordance with GAAP and delivered to the Lessor and the Lease
        Participants pursuant to Section 8.01(i) or (ii) of the Investment
        Agreement.

       

      “Controlled
        Group”:
        all
        members of a controlled group of corporations and all trades or businesses
        (whether or not incorporated) under common control which, together with the
        Guarantor, are treated as a single employer under Section 414 of the
        Code.

       

      “Construction
        Term”:
        the
“Construction Term” as defined in the Original Investment
        Agreement.

       

      “Debt
        Rating”:
        at any
        time whichever is the higher of the rating of the Guarantor’s senior unsecured,
        unenhanced debt (or, if no such debt exists, its issuer credit rating for
        debt
        of such type) by Moody’s or S&P  (provided,
        that in
        the event of a double or greater split rating, the rating immediately above
        the
        lowest rating shall apply), or if only one of them rates the Guarantor’s senior
        unsecured, unenhanced debt, such rating.

       

      “Default”:
        any
        condition or event that constitutes an Event of Default or that with the
        giving
        of notice or the lapse of time or both would, unless cured or waived, become
        an
        Event of Default.

       

      “Default
        Rate”:
        with
        respect to any Lessor Investments, Rent or any other amount payable under
        any
        Operative Document, on any day, the sum of 2% plus the Adjusted LIBO
        Rate.

       

      “Dollars”
and
        “$”:
        dollars in lawful currency of the United States of America.

       

      “Eligible
        Assignee”:
        with
        respect to any particular assignment under Section 11.06 of the Investment
        Agreement, any bank or other financial institution consented to by the Company
        and the Lessor if such bank or other financial institution is not already
        a
        Lease Participant or an affiliate of a Lease Participant; provided
        that (i)
        the Lessor’s consent may be granted or withheld in its sole and absolute
        discretion, and (ii) the Company’s consent shall not be unreasonably withheld
        and, provided, further, that such consent of the Company shall not be required
        if a Default or Event of Default is in existence.

       

      “Eligible
        Lessor”
shall
        mean a Person (a) of which another Person (the “Lessor
        Parent”)
        has
        voting control of, which voting control is represented by a majority of the
        outstanding voting equity interests (the “Majority
        Equity Interest”),
        held
        by the Lessor Parent (b) that has a legal form that allows holders of the
        Majority Equity Interests to make decisions and manage such Person’s activities;
        (c) that believes that its level of net worth is sufficient to allow it to
        finance its activities; (d) that has the Majority Equity Interests which
        are the
        first interest subject to loss if such Person’s assets are not sufficient to
        meet its obligations; (e) that did not receive assets that are beneficial
        interests in a special purpose entity in exchange for the issuance of the
        Majority Equity Interests; (f) that did not receive funds in exchange for
        the
        Majority Equity Interests from any of the Lease Participants, other than
        the
        Lessor Parent or its Affiliates; and (g) that holds title to real estate
        or
        equipment assets with a fair market value equal to or in excess of $250,000,000.
        

       

      “Environmental
        Assessment”:
        collectively, a phase 1 report conducted by an independent engineering firm
        reasonably acceptable to the Lessor in scope and substance satisfactory to
        the
        Lessor, and in any event satisfying the minimum standards set forth in ASTME
        1527-05 (and, if recommended in or indicated by the phase 1 report, a phase
        2,
        environmental soil test or other environmental report or reports), reflecting
        compliance of the Facility in all material respects with all applicable
        Environmental Requirements.

       

      “Environmental
        Authority”:
        any
        foreign, federal, state, local or regional Governmental Authority that exercises
        any form of jurisdiction or authority under any Environmental
        Requirement.

       

      “Environmental
        Authorizations”:
        all
        licenses, permits, orders, approvals, notices, registrations or other legal
        prerequisites for conducting the business of the Guarantor, the Company or
        any
        other Subsidiary, or for the uses and activities of, on or relating to the
        Facility, required by any Environmental Requirement.

       

      “Environmental
        Damages”:
        any
        and all claims, losses, costs, damages, penalties and expenses which are
        incurred at any prior or subsequent time as a result of the existence or
        release
        of Hazardous Materials upon, about or beneath the Facility or migrating or
        threatening to migrate to or from the Facility, or the existence of a violation
        of Environmental Requirements pertaining to the Facility, regardless of whether
        the existence of such Hazardous Materials or the violation of Environmental
        Requirements arose prior to the present ownership or operation of the
        Facility.

       

      “Environmental
        Judgments and Orders”:
        all
        Judgments, arising from or in any way associated with any Environmental
        Requirements, whether or not entered upon consent or written agreements with
        an
        Environmental Authority or other entity arising from or in any way associated
        with any Environmental Requirement, whether or not incorporated in a
        Judgment.

       

      “Environmental
        Liabilities”:
        any
        liabilities or Liens, whether accrued, contingent or otherwise, arising from
        and
        in any way associated with any Environmental Requirements.

       

      “Environmental
        Notices”:
        written notice from any Environmental Authority or by any other Person, of
        possible or alleged noncompliance with or liability under any Environmental
        Requirement, including without limitation any complaints, citations, demands
        or
        requests from any Environmental Authority or from any other person or entity
        for
        correction of any violation of any Environmental Requirement or any
        investigations concerning any violation of any Environmental
        Requirement.

       

      “Environmental
        Proceedings”:
        any
        judicial or administrative proceedings arising from or in any way associated
        with any Environmental Requirement.

       

      “Environmental
        Release”:
        any
        actual or threatened release defined in CERCLA or under any state or local
        environmental law or regulation.

       

      “Environmental
        Requirements”:
        any
        statue, rule, regulation, ordinance, permit, license administration or judicial
        decision or order (whether by consent or otherwise) or the requirement of
        law
        with respect to: (i) the protection of human health and/or the environment;
        (ii)
        the existence, handling, use, generation, treatment, storage, packaging,
        labeling, removal or Environmental Release of Hazardous Materials on, under,
        about and/or from any real property, including the Facility; and (iii) the
        effects on the environment of any activity now, previously, or hereinafter
        conducted on any real property, including the Facility. The Environmental
        Requirements shall include, but not be limited to, the following: CERCLA;
        the
        Superfund Amendments and Reauthorization Act, Public Law 99-499, 100 Stat.
        1613;
        the Resource Conservation and Recovery Act, 42 U.S.C. §§ 6901, et
        seq.;
        the
        Toxic Substances Control Act, 15 U.S.C. §§ 2601, et
        seq.;
        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
        Occupational Safety and Health Act, 29 U.S.C. §§ 651, et
        seq.;
        the
        Emergency Planning and Community Right-To-Know Act of 1986, 42 U.S.C. §§ 11001,
et
        seq.;
        the
        state and local analogies thereto, all as amended or superseded from time
        to
        time; and any common-law doctrine, including but not limited to, negligence,
        nuisance, strict liability, trespass, personal injury, or property damage
        related to or arising out of the presence, Environmental Release or exposure
        to
        a Hazardous Material; and all federal, state and local ordinances, regulations,
        orders, writs and decrees.

       

      “ERISA”:
        the
        Employee Retirement Income Security Act of 1974, as amended from time to
        time,
        or any successor law and the regulations promulgated and rulings issued from
        time to time thereunder. Any reference to any provision of ERISA shall also
        be
        deemed to be a reference to any successor provision or provisions
        thereof.

       

      “Eurocurrency
        Liabilities”:
        as
        defined in Regulation D of the Board of Governors of the Federal Reserve
        System,
        as in effect from time to time.

       

      “Eurodollar
        Reserve Percentage”:
        for
        any day the percentage (expressed as a decimal) that is in effect on such
        day,
        as prescribed by the Board of Governors of the Federal Reserve System (or
        any
        successor) for determining the maximum reserve requirement for a member bank
        of
        the Federal Reserve System in respect of Eurocurrency Liabilities (or in
        respect
        of any other category of liabilities which includes deposits by reference
        to
        which the interest rate on loans made at the LIBO Rate is determined or any
        category of extensions of credit or other assets which includes loans by
        a
        non-United States office of any Funding Party to United States residents).
        The
        Adjusted LIBO Rate shall be adjusted automatically on and as of the effective
        date of any change in the Eurodollar Reserve Percentage.

       

      “Event
        of Default”:
        each
        of the each of the events or circumstances defined as an “Event of Default” in
        Section 9.01 of the Investment Agreement.

       

      “Facility”:
        the
        collective reference to (i) the Lessor’s leasehold interest in the Site, (ii)
        the Improvements, and (iii) all plans, specifications, warranties and related
        rights and operating, maintenance and repair manuals related thereto and
        all
        replacements of any of the above.

       

      “Facility
        Cost”:
        $75,000,000.

       

      “Facility
        Plan”:
        the
        architectural and engineering plans and specifications for the Facility and
        list
        of Facility Plan documents furnished to the Lessor pursuant to Section 6.01(f)
        of the Original Investment Agreement, as the same may have been duly amended,
        restated, supplemented or otherwise modified from time to time prior to the
        Restatement Closing Date.

       

      “Federal
        Funds Rate”:
        for
        any day, the rate per annum (rounded upward, if necessary, to the next higher
        1/100th of 1%) equal to the weighted average of the rates on overnight Federal
        funds transactions with members of the Federal Reserve System arranged by
        Federal funds brokers on such day, as published by the Federal Reserve Bank
        of
        New York on the Business Day next succeeding such day, provided
        that (i)
        if the day for which such rate is to be determined is not a Business Day,
        the
        Federal Funds Rate for such day shall be such rate on such transactions on
        the
        next preceding Business Day, and (ii) if such rate is not so published for
        any
        day, the Federal Funds Rate for such day shall be the average rate charged
        to
        the Lessor on such day on such transactions, as determined by the
        Lessor.

       

      “Final
        Rent Payment”:
        an
        amount equal to the sum of (i) the aggregate amount of the Unrecovered Lessor
        Investments attributable to the A Percentage Lessor Investments, plus (ii)
        the
        aggregate amount of the Unrecovered Lessor Investments attributable to that
        portion of the B Percentage Lessor Investments which are in excess of the
        Non-Recourse Amount, plus (iii) all accrued, unpaid Supplemental Rent through
        the end of the Lease Term, plus (iv) all accrued, unpaid A Percentage Yield
        through the end of the Lease Term, plus (v) all accrued and unpaid B Percentage
        Yield through the end of the Lease Term, plus (vi) other amounts owing by
        the
        Company under the Operative Documents (other than the Unrecovered Lessor
        Investments attributable to that portion of the B Percentage Lessor Investments
        which are attributable to the Non-Recourse Amount).

       

      “Fiscal
        Quarter”:
        any
        fiscal quarter of the Guarantor or the Company, as the case may be.

       

      “Fiscal
        Year”:
        any
        fiscal year of the
        Guarantor or the
        Company, as the case may be.

       

      “Funded
        Amount”:
        the
        aggregate amount of the A Percentage Lessor Investments, the B Percentage
        Lessor
        Investments, Yield thereon, Supplemental Rent pursuant to Section 2.04, expenses
        and indemnities owing or to be owing to the Lessor and the Lease Participants,
        and (without duplication) all other amounts owing by the Company to the Lessor
        or the Lease Participants pursuant to the Investment Agreement or any other
        Operative Document.

       

      “Funding
        Party”:
        Any
        one, or more, or all, as the context shall require, of the Lessor and the
        Lease
        Participants collectively, the “Funding
        Parties”.

       

      “GAAP”:
        generally accepted accounting principles in the United States of America
        applied
        on a basis consistent with those which, in accordance with Section 1.03 of
        the
        Investment Agreement, are to be used in making the calculations for purposes
        of
        determining compliance by the Guarantor with
        the
        provisions of the Operative Documents applicable thereto.

       

      “Governmental
        Authority”:
        to
        include the country, state, county, city and political subdivisions in which
        any
        Person or any such Person’s property is located or that exercises valid
        jurisdiction over any such Person or any such Person’s property, and any court,
        agency, department, commission, board, bureau or instrumentality of any of
        them
        including monetary authorities that exercise valid jurisdiction over any
        such
        Person or any such Person’s property. Unless otherwise specified, all references
        to Governmental Authority herein shall mean a Governmental Authority having
        jurisdiction over, where applicable, the Guarantor, the Company, the Site,
        the
        Facility, the Lessor, any Lease Participant, any Applicable Funding Office
        or
        any Operative Document.

       

      “Governmental
        Requirement”:
        any
        law, statute, code, ordinance, order, determination, rule, regulation, judgment,
        decree, writ, order, injunction, franchise, permit, certificate, license,
        authorization or other direction or requirement (whether or not having the
        force
        of law), including, without limitation, Environmental Requirements, and
        occupational, safety and health standards or controls, of any Governmental
        Authority.

       

      “Ground
        Lease”:
        that
        certain Amended and Restated Ground Lease dated as of the Restatement Closing
        Date by and between the Company, as lessor, and Lessor, as lessee, as the
        same
        may be amended, restated, supplemented, or otherwise modified from time to
        time.

       

      “Guaranteed
        Obligations”:
        of a
        Person, without limitation, such Person’s guaranties, endorsements, assumptions
        and other contingent obligations with respect to, or to purchase or to otherwise
        pay or acquire, Indebtedness of others.

       

      “Guarantor”:
        Protective Life Corporation, a Delaware corporation, and its
        successors.

       

      “Guaranty”:
        the
        Guaranty, in the form of Exhibit
        F,
        of even
        date with the Investment Agreement, from the Guarantor to the Lessor for
        the
        benefit of the Lessor and the Lease Participants, pursuant to which the
        Guarantor, as primary obligor, guarantees and is liable for all of the Company’s
        obligations under all Operative Documents, as amended, supplemented or otherwise
        modified from time to time.

       

      “Hazardous
        Materials”:
        to
        include, without limitation, (i) solid or hazardous waste, as defined in
        the
        Resource Conservation and Recovery Act of 1980, 42 U.S.C. § 6901 et seq., and
        its implementing regulations and amendments, or in any applicable state or
        local
        law or regulation, (ii) “hazardous substance”, “pollutant”, or “contaminant” as
        defined in CERCLA, or in any applicable federal, state or local law or
        regulation, (iii) gasoline, or any other petroleum product or by-product,
        including crude oil or any fraction thereof, (iv) insecticides, fungicides,
        or
        rodenticides, as defined in the Federal Insecticide, Fungicide, and Rodenticide
        Act of 1975, or in any applicable federal, state or local law or regulation,
        as
        each such Act, statute or regulation may be amended from time to time, or
        (v)
        any toxic or hazardous materials, wastes, polychlorinated biphenyls (“PCBs”),
        lead-containing materials, asbestos or asbestos-containing materials, urea
        formaldehyde, radioactive materials, pesticides, the discharge of sewage
        or
        effluent, or any other materials or substances defined as or included in
        the
        definition of “hazardous materials,” “hazardous waste,” “contaminants” or
        similar terms under any Environmental Requirement.

       

      “Highest
        Lawful Rate”:
        with
        respect to each Funding Party, the maximum non-usurious Yield that at any
        time
        or from time to time may be contracted for, taken, reserved, charged or received
        on the Lessor Investments and the Lease Participant Investments or on other
        amounts owing hereunder under laws applicable to such Funding Party which
        are
        presently in effect or, to the extent allowed by law, under such applicable
        laws
        which may hereafter be in effect and which allow a higher maximum non-usurious
        Yield rate than applicable laws now allow.

       

      “Impositions”:
        without duplication, as to any Person, (i) all Taxes, assessments, levies,
        fees,
        water and sewer rents and charges, inspection fees and other authorization
        fees
        and all other governmental charges, general and special, ordinary and
        extraordinary, foreseen and unforeseen, of every character (including all
        penalties and interest thereon) that, at any time prior or subsequent to
        the
        Restatement Closing Date, are imposed or levied upon or assessed against
        or may
        be or constitute a Lien upon such Person or such Person’s Property, or that
        arise in respect of the ownership, operation, occupancy, possession, use,
        non-use, condition, leasing or subleasing of such Person’s Property; (ii) all
        charges, levies, fees, rents or assessments for or in respect of utilities,
        communications and other services rendered or used on or about such Person’s
        Property; (iii) payments required in lieu of any of the foregoing; but excluding
        any penalties or fines imposed on any Funding Party for violation by it of
        any
        banking laws or securities law; and (iv) any and all taxes, recording fees
        and
        other charges (including penalties and interest) relating to or arising out
        of
        the execution, delivery or recording of any of the Operative Documents for
        the
        amounts evidenced, secured or referred to be paid thereby, including without
        limitation, documentary stamp taxes, intangible taxes, recording fees and
        sales
        and rent taxes.

       

      “Improvements”:
        collectively, the building and parking deck and related enhancements and
        improvements, including furniture, fixtures and equipment constructed or
        installed on the Site in accordance with the Facility Plan, together with
        all
        accessions thereto and replacements thereof, and together with all accessories,
        equipment, parts and devices thereto, and all fixtures now or hereafter included
        in or attached to the Site, the building and such enhancements and improvements
        and modifications, but excluding the Site.

       

      “Indebtedness”:
        of a
        Person means, without duplication, such Person’s (i) obligations for borrowed
        money, (ii) obligations representing the deferred purchase price of Property
        or
        services (other than accounts payable arising in the ordinary course of such
        Person’s business payable on terms customary in the trade), (iii) obligations,
        whether or not assumed, payable out of the proceeds or production from Property
        now or hereafter owned or acquired by such Person, (iv) obligations evidenced
        by
        notes, acceptances or other similar debt instruments, (v) Capitalized Lease
        Obligations, (vi) obligations for reimbursement of drafts drawn or available
        to
        be drawn under letters of credit, (vii) Synthetic Lease Obligations and (viii)
        Guaranteed Obligations. It is understood and agreed, for the avoidance of
        doubt,
        that 9a) annuities, guaranteed investment contracts, funding agreements and
        similar instruments and agreements, (b) obligations (including without
        limitation trust obligations) under reinsurance, coinsurance, modified
        coinsurance agreements or similar agreements and related trust agreements,
        and
        (c) insurance products created or entered into in the normal course of business
        shall not constitute “Indebtedness.” Notwithstanding the foregoing, Indebtedness
        shall not include: (1) the following obligations issued in connection with
        the
        funding of statutory reserves with respect to which the Borrowers have no
        obligation to repay: (A) surplus notes or other obligations of Subsidiaries
        of
        the Borrowers (“Capital Market Notes”), (B) any securities backed by such
        Capital Market Notes, and (C) any guarantees by the issuers of the obligations
        described in (A) and (B) above, (2) any short-term indebtedness incurred
        for the
        pre-funding of anticipated policy obligations or anticipated investment cash
        flow, or (3) obligations that are not otherwise included in items (i) through
        (viii) of the definition of Indebtedness, but which would be classified as
        a
        liability on the Borrowers’ financial statements only by reason of FASB
        Interpretation No. 46.

       

      “Indemnified
        Party”:
        as
        defined in Section 11.03(c) of the Investment Agreement.

       

      “Indemnified
        Risks”:
        as
        defined in Section 11.03(c) of the Investment Agreement.

       

      “Initial
        Master Assignment and Acceptance”:
        that
        certain Initial Master Assignment and Acceptance dated as of the Restatement
        Closing Date by and among WCI, WDC, the Company, Guarantor, SunTrust Bank,
        and
        LaSalle Bank National Association, as the same may be amended, restated,
        supplemented, or otherwise modified from time to time.

       

      “Insurance
        Requirements”:
        all
        terms of any insurance policy (including, without limitation, casualty and
        general liability) covering or applicable to the Facility or any portion
        thereof
        maintained in accordance with Section 14 of the Lease and all requirements
        of
        the issuer of any such policy.

       

      “Insurance
        Subsidiary”:
        any
        Subsidiary that is engaged in the business of insuring risk, including, without
        limitation, the Company.

       

      “Investment”:
        any
        investment in any Person, whether by means of purchase or acquisition of
        obligations or securities of such Person, capital contribution to such Person,
        loan or advance to such Person, making of a time deposit with such Person,
        Guarantee or assumption of any obligation of such Person or
        otherwise.

       

      “Investment
        Agreement”:
        the
        Amended and Restated Investment and Participation Agreement, dated as of
        the
        Restatement Closing Date, among the Company, the Administrative Agent, the
        Lessor, and the Lease Participants, as amended, supplemented, renewed, extended
        or otherwise modified from time to time.

       

      “Judgment”:
        any
        judgment, decree, writ, order, determination, injunction, rule or other
        direction or requirement of any arbitrator or any court, tribunal or other
        Governmental Authority.

       

      “Lease”:
        the
        Amended and Restated Lease Agreement, dated as of the Restatement Closing
        Date,
        pursuant to which the Company, as Lessee, has agreed to lease the Facility
        on
        and after the Lease Commencement Date for the Permitted Use in accordance
        with
        the terms and conditions set forth in the Lease, as the same may be amended,
        restated, supplemented, or otherwise modified from time to time.

       

      “Lease
        Commencement Date”:
        the
        Restatement Closing Date.

       

      “Lease
        Event of Default”:
        as
        defined in the Lease Agreement.

       

      “Lease
        Participant”:
        any
        Person who is listed as a Lease Participant on the signature pages of the
        Investment Agreement, or who from time to time becomes a Lease Participant
        pursuant to an Assignment and Acceptance; collectively, the “Lease
        Participants”.
        The
        term Lease Participant shall include any or all of the A Percentage Lease
        Participants and the B Percentage Lease Participants, as
        applicable.

       

      “Lease
        Participant Investments”:
        as to
        (a) each A Percentage Lease Participant, its A Percentage Share of the A
        Percentage Lessor Investments and (b) each B Percentage Lease Participant,
        its B
        Percentage Share of the B Percentage Lessor Investments, in each case as
        evidenced by, embodied in, or corresponding to such Lease Participant’s A
        Percentage Ownership Interest or B Percentage Ownership Interest.

       

      “Lease
        Term”:
        the
        period of time commencing on the Lease Commencement Date and ending on the
        Lease
        Termination Date.

       

      “Lease
        Termination Date”:
        the
        earlier to occur of (i) the Option Date, (ii) the Cancellation Date, (iii)
        the
        date of termination as a result of a Termination Event and (iv) the Scheduled
        Lease Termination Date.

       

      “Lessee”:
        the
        Company in its capacity as Lessee under the Lease and any successor or permitted
        assign in such capacity.

       

      “Lessor”:
        the
        Lessor and any successor or Eligible Lessor Assignee permitted by the terms
        of
        the Investment Agreement and the Lease.

       

      “Lessor
        Assignment Agreement”:
        that
        certain Assignment and Assumption Agreement dated the Restatement Closing
        Date,
        pursuant to which, among other things, WCI assigned to Lessor all of WCI’s
        right, title, and interest in and to the Original Lease Documents, as the
        same
        may be amended, restated, supplemented, or otherwise modified from time to
        time.

       

      “Lessor
        Equity Interest”:
        that
        portion of the B Percentage Lessor Investments in an amount equal to 5.00000%
        of
        the Facility Cost and which is part of the Non-Recourse Amount, which amount
        shall be owned and retained by the Lessor.

       

      “Lessor
        Investments”:
        at any
        time of determination, the aggregate of all amounts of Facility Cost funded
        by
        the Lessor or capitalized as part of Facility Cost pursuant to the Investment
        Agreement, less any payments thereon or redemptions thereof. The term
“Lessor
        Investments”
        includes, at any time and as the context may require, those Lessor Investments
        made by Lessor, the A Percentage Lessor Investments, and the B Percentage
        Lessor
        Investments.

       

      “LIBO
        Rate”:
        with
        respect to any Lessor Investments for the applicable Yield Period therefor,
        or
        any other amount, the rate per annum determined on the basis of the offered
        rate
        for deposits of three months in Dollars of amounts equal or comparable to
        the
        principal amount of such Lessor Investments, or any such other amount, as
        applicable, which rates appear on Dow Jones Markets, Inc. Page 3750 as of
        11:00
        A.M., London time, two Business Days prior to the first day of such Yield
        Period, provided that will be the arithmetic average (rounded upward, if
        necessary, to the next higher 1/16th of 1%) of such offered rates; (b) if
        no
        such offered rates appear on such page, the “LIBO Rate” for such Yield Period,
        as applicable, will be the arithmetic average (rounded upward, if necessary,
        to
        the next higher 1/16th of 1%) of rates quoted by not less than two major
        banks
        in New York City, selected by the Administrative Agent (on behalf of the
        Lessor), at approximately 10:00 A.M., New York City time, two Business Days
        prior to the first day of such Yield Period, as applicable, for deposits
        in
        Dollars offered to leading European banks for a period comparable to such
        Yield
        Period, in an amount comparable to the principal amount of such Lessor
        Investments, or any such other amount.

       

      “Lien”:
        with
        respect to any asset, any mortgage, deed to secure debt, deed of trust, lien,
        pledge, charge, security interest, security title, preferential arrangement
        which has the practical effect of constituting a security interest or
        encumbrance, or encumbrance or servitude of any kind in respect of such asset
        to
        secure or assure payment of any Indebtedness or a Guarantee, whether by
        consensual agreement or by operation of statute or other law, or by any
        agreement, contingent or otherwise, to provide any of the foregoing. For
        the
        purposes of this definition, each of the Company, the Guarantor, and any
        Subsidiary thereof shall be deemed to own subject to a Lien any asset which
        it
        has acquired or holds subject to the interest of a vendor or lessor under
        any
        conditional sale agreement, capital lease or other title retention agreement
        relating to such asset.

       

      “Limited
        Recourse Event of Default”
means
        each Event of Default described on Schedule
        1.02(c),
        attached hereto and made a part hereof.

       

      “Loss
        Event”:
        any of
        the following events in respect of the Facility: (i) the total loss of the
        Facility or the total loss of use thereof due to theft, disappearance,
        destruction, damage beyond repair or rendition of the Facility permanently
        unfit
        for normal use for any reason whatsoever; (ii) any damage to the Facility
        which
        results in an insurance settlement with respect to the Facility on the basis
        of
        a total loss; (iii) the permanent condemnation, confiscation or seizure of,
        or
        requisition of title to or use of, all or substantially all of the Facility
        including, but not limited to, a permanent taking by eminent domain of such
        scope that the untaken part of the Facility is insufficient to permit the
        restoration of the Facility for continued use in the Company’s business or that
        causes the remaining part of the Facility to be incapable of being restored
        to a
        condition that would permit the remaining portion of the Facility (without
        the
        portion of the Facility taken by eminent domain) to continue to have the
        capacity and functional ability to perform on a continuing basis (subject
        to
        normal interruptions in the ordinary course of business for maintenance,
        inspection, service, repair and testing) and in commercial operation, the
        function for which the Facility (as a whole) was designed as specified in
        the
        Facility Plan or a temporary taking of such nature for a period exceeding
        180
        consecutive days; or (iv) the occurrence of any event or the discovery of
        any
        condition in, on, beneath or involving the Facility or any portion thereof
        (including, but not limited to the presence of hazardous substances or the
        violation of any applicable Environmental Requirement) that would have a
        material adverse effect on the use, occupancy, possession, condition, value
        or
        operation of the Facility or any portion thereof, which event or condition
        requires remediation (A) the cost of which is anticipated, in the opinion
        of the
        Lessor, in consultation with an independent environmental engineering firm,
        to
        exceed 15% of the Termination Value, and (B) that could not reasonably be
        expected to be completed substantially in its entirety prior to the date
        that is
        30 days prior to the then-applicable Scheduled Lease Termination Date or
        is not
        actually completed substantially in its entirety on or before the date that
        is
        30 days prior to the then-applicable Scheduled Lease Termination
        Date.

       

      “Majority
        Funding Parties”:
        at any
        time Funding Parties owning at least 51% of the aggregate amount of the
        Ownership Interests (the A Percentage Ownership Interests and the B Percentage
        Ownership Interests being considered as a single class and not separately
        and
        without regard to any sale by a Lease Participant of a participation in its
        Ownership Interest under Section 11.06(f) of the Investment
        Agreement).

       

      “Margin
        Stock”:
        “margin stock” as defined in Regulations U or G of the Board of Governors of the
        Federal Reserve System, as in effect from time to time.

       

      “Market
        Value”:
        as
        defined in Section 323.2(f) of the Regulations and Statements of General
        Policy
        on Appraisals promulgated by the Federal Deposit Insurance Corporation, 12
        C.F.R. § 323.2(f), as amended from time to time.

       

      “Material
        Adverse Effect”:
        with
        respect to any event, act, condition or occurrence of whatever nature (including
        any adverse determination in any litigation, arbitration, or governmental
        investigation or proceeding), whether singly or in conjunction with any other
        event or events, act or acts, condition or conditions, occurrence or
        occurrences, whether or not related, a material adverse change in, or a material
        adverse effect upon, any of (i) the financial condition, operations, business,
        or properties of the Guarantor and the Consolidated Subsidiaries taken as
        a
        whole, (ii) the rights and remedies of the Funding Parties under the Operative
        Documents, or the ability of the Company or the Guarantor to perform its
        obligations under the Operative Documents to which it is a party, (iii) the
        legality, validity or enforceability of any Operative Document, or (iv) the
        use,
        occupancy, possession, condition, value or operation of the
        Facility.

       

      “Material
        Subsidiary”:
        any
        Subsidiary the assets of which constitute 15% or more of Consolidated Total
        Assets.

       

      “Maturity
        Date”:
        the
        earlier to occur of (a) the Option Date, (B) the Cancellation Date, and (C)
        the
        Lease Termination Date.

       

      “Moody’s”:
        Moody’s Investor Service, Inc.

       

      “Multiemployer
        Plan”:
        has
        the meaning set forth in Section 4001(a)(3) of ERISA.

       

      “NAIC”:
        the
        National Association of Insurance Commissioners or any successor thereto,
        or in
        lieu thereof, any other association, agency or other organization performing
        advisory, coordination or other like functions among insurance departments,
        insurance commissions and similar Governmental Authorities of the various
        states
        of the United States of America toward the promotion of uniformity in the
        practices of such Governmental Authorities.

       

      “Non-Recourse
        Amount”:
        an
        amount equal to 18.10000% of the Facility Cost, which amount includes that
        portion of the B Percentage Lessor Investments attributable to the Lessor
        Equity
        Interest and all of which shall be held by one or more B Percentage Lease
        Participants or the Lessor.

       

      “Non-U.S.
        Domestic Participant”:
        as
        defined in Section 4.06(b) of the Investment Agreement.

       

      “Operative
        Documents”:
        collectively, the Investment Agreement, the Lease, the Guaranty, the Lessor
        Assignment Agreement, the Initial Master Assignment and Acceptance, the
        Secondary Master Assignment and Acceptance, and the Security Instruments
        and any
        and all other agreements or instruments now or hereafter executed and delivered,
        or required to be executed and delivered, by the Company or the Guarantor
        in
        connection with the Investment Agreement or the other Operative Documents,
        as
        such agreements or instruments may be amended, supplemented, renewed, extended,
        increased or otherwise modified from time to time.

       

      “Option
        Date”:
        as
        defined in Section 15(c) of the Lease. 

       

      “Original
        Agency Agreement”:
        that
        certain Acquisition, Agency, Indemnity and Support Agreement, dated as of
        February 1, 2000, between the WCI and the Company, as Acquisition/Construction
        Agent, as amended, supplemented or otherwise modified from time to time prior
        to
        the Restatement Closing Date.

       

      “Original
        Ground Lease”:
        that
        certain Ground Lease dated as of February 1, 2000, between the Company and
        WCI,
        as the same may be amended, restated, supplemented, or otherwise modified
        from
        time to time up to but not including the Restatement Closing Date.

       

      “Original
        Guaranty Agreement”:
        that
        certain Guaranty dated as of February 1, 2000, executed and delivered by
        Guarantor in favor of WCI (for the ratable benefit of the Lease Participants),
        which Guaranty contains certain limitations, as the same may be amended,
        restated, supplemented, or otherwise modified from time to time up to but
        not
        including the Restatement Closing Date.

       

      “Original
        Investment Agreement”:
        that
        certain Investment and Participation Agreement dated as of February 1, 2000,
        by
        and among the Company, WCI and each of the “Lease Participants” party thereto,
        as the same may be amended, restated, supplemented, or otherwise modified
        from
        time to time up to but not including the Restatement Closing Date.

       

      “Original
        Lease Agreement”:
        that
        certain Lease Agreement dated as of February 1, 2000, by and between WCI
        and the
        Company, as the same may be amended, restated, supplemented, or otherwise
        modified from time to time up to but not including the Restatement Closing
        Date.

       

      “Original
        Lease Documents”:
        the
        Original Investment Agreement, the Original Ground Lease, the Original Lease
        Agreement, the Original Guaranty Agreement, and all other documents,
        instruments, and agreements entered into in connection with or pursuant to
        any
        of the foregoing before the Restatement Closing Date. 

       

      “Other
        Taxes”:
        all
        taxes (other than Taxes), assessments, levies, fees, water and sewer rents
        and
        charges, inspection fees and other authorization fees and all other governmental
        charges, general and special, ordinary and extraordinary, foreseen and
        unforeseen, of every character (including all penalties and interest thereon)
        and all recording fees and other charges (including penalties and interest)
        relating to or arising out of (i) the execution, delivery, recording or
        enforcement of any of the Operative Documents, whether for the amounts
        evidenced, secured or referred to be paid thereby, or otherwise, or (ii)
        to the
        ownership, use, operation or transfer of the Facility or any other Property
        or
        (iii) any other event or circumstance, including without limitation, transfer
        taxes, documentary stamp taxes, intangible taxes, recording fees and sales,
        use
        and rent taxes.

       

      “Other
        Transaction Expenses”:
        as
        defined in Section 3.05(a)(i) of the Investment Agreement.

       

      “Ownership
        Certificate”:
        as
        defined in Section 2.01(b) of the Investment Agreement.

       

      “Ownership
        Interests”:
        A
        Percentage Ownership Interests or B Percentage Ownership Interests, as
        applicable.

       

      “PBGC”:
        the
        Pension Benefit Guaranty Corporation or any successor thereto.

       

      “Percentage
        Share”:
        as to
        any Lease Participant or the Lessor, its A Percentage Share or the B Percentage
        Share, as applicable.

       

      “Performance
        Pricing Determination Date”:
        each
        date on which the Debt Rating changes.

       

      “Permit”:
        any
        approval, consent, waiver, exemption, variance, franchise, order, permit,
        authorization, right or license of or from any Governmental Authority or
        other
        Person.

       

      “Permitted
        Insurers”:
        insurers with ratings of A or better and Class VIII or better according to
        Best’s Insurance Reports, or other insurers acceptable to the
        Lessor.

       

      “Permitted
        Liens”:
        (i)
        with respect to the Lease or the Facility (including without limitation,
        the
        Site) or any Property included in or comprising the Facility or any portion
        thereof, any of the following:

       

      (a) rights
        reserved to or vested in any Governmental Authority by the terms of any right,
        power, franchise, grant, license, permit or provision of law affecting the
        Facility to (1) terminate, or take any other action which has the effect
        of
        modifying, such right, power, franchise, grant, license, permit or provision
        of
        law, provided
        that
        such termination or other action, when taken, shall not have resulted in
        a Loss
        Event and shall not have had a Material Adverse Effect, or (2) purchase,
        condemn, appropriate or recapture, or designate a purchaser of, the
        Facility;

       

      (b) any
        Liens
        thereon for Impositions or taxes and any Liens of mechanics, materialmen
        and
        laborers for work or services performed or materials furnished which (i)
        are not
        overdue, or (ii) are being contested in good faith in the manner described
        in
        Section 13 of the Lease;

       

      (c) Liens
        of
        mechanics, materialmen and laborers for work or services performed or materials
        furnished during the Construction Term;

       

      (d) rights
        reserved to or vested in any Governmental Authority to control or regulate
        the
        use of such Property or to use the Facility in any manner;

       

      (e) in
        the
        case of the Site, encumbrances, easements, and other similar rights existing
        on
        the Restatement Closing Date the existence or exercise of which do not have
        a
        Material Adverse Effect; and 

       

      (f) any
        Liens
        created under the Operative Documents and any financing statements filed
        in
        connection therewith;

       

      and

       

      (ii) with
        respect to any other Property, any of the following:

       

      (a) Liens
        existing on the Restatement Closing Date securing Indebtedness outstanding
        on
        the Restatement Closing Date in an aggregate principal amount with respect
        to
        Indebtedness for borrowed money and capital leases not exceeding
        $3,000,000;

       

      (b) any
        Lien
        existing on any asset of any (a) corporation or partnership at the time such
        corporation or such partnership becomes a Consolidated Subsidiary, or (b)
        Subsidiary at the time it becomes a Subsidiary, and in either case not created
        in contemplation of such event;

       

      (c) any
        Lien
        on any asset securing Indebtedness incurred or assumed for the purpose of
        financing all or any part of the cost of acquiring or constructing such asset,
        provided that such Lien attaches to such asset concurrently with or within
        18
        months after the acquisition or completion of construction thereof;

       

      (d) any
        Lien
        on any asset of any corporation existing at the time such corporation is
        merged
        or consolidated with or into the Company or the Guarantor or a Consolidated
        Subsidiary and not created in contemplation of such event;

       

      (e) any
        Lien
        existing on any asset prior to the acquisition thereof by the Guarantor,
        the
        Company or another Consolidated Subsidiary and not created in contemplation
        of
        such acquisition;

       

      (f) Liens
        securing Indebtedness owing by any Subsidiary to the Guarantor or the
        Company;

       

      (g) any
        Lien
        arising out of the refinancing, extension, renewal or refunding of any
        Indebtedness secured by any Lien permitted by any of the foregoing clauses
        of
        this subsection (ii), provided
        that (a)
        such Indebtedness is not secured by any additional assets, and (ii) the amount
        of such Indebtedness secured by any such Lien is not increased;

       

      (h) Liens
        incidental to the conduct of the business of the Guarantor, the Company or
        any
        of the Subsidiaries or the ownership of their respective assets which (a)
        do not
        secure Indebtedness and (b) do not in the aggregate materially detract from
        the
        value of their respective assets or materially impair the use thereof in
        the
        operation of their respective businesses;

       

      (i) any
        Lien
        on Margin Stock; 

       

      (j) Liens
        for
        Impositions or Taxes either not yet delinquent or which are being contested
        in
        good faith by appropriate proceedings;

       

      (k) Liens
        not
        securing Indebtedness which are created by or relate to any legal proceedings
        which at the time are being contested in good faith by appropriate
        proceedings;

       

      (l) any
        other
        statutory or inchoate Lien securing amounts other than Indebtedness which
        are
        not delinquent; and

       

      (m) Liens
        not
        otherwise permitted by the foregoing paragraphs of this subsection (ii) securing
        Indebtedness and other obligations in an aggregate principal amount at any
        time
        outstanding not to exceed 15% of Adjusted Consolidated Net Worth.

       

      “Permitted
        Use”:
        with
        respect to the Facility, the occupation and use of the Site and the Improvements
        as a corporate office building in compliance with all applicable Governmental
        Requirements and Insurance Requirements.

       

      “Person”:
        an
        individual, a corporation, a partnership, a limited liability company, an
        unincorporated association, a trust or any other entity or organization,
        including, but not limited to, a government or political subdivision or other
        Governmental Authority.

       

      “Plan”:
        at any
        time an employee pension benefit plan which is covered by Title IV of ERISA
        or
        subject to the minimum funding standards under Section 412 of the Code and
        is
        either (i) maintained by a member of the Controlled Group for employees of
        any
        member of the Controlled Group or (ii) maintained pursuant to a collective
        bargaining agreement or any other arrangement under which more than one employer
        makes contributions and to which a member of the Controlled Group is then
        making
        or accruing an obligation to make contributions or has within the preceding
        5
        plan years made contributions.

       

      “Pricing
        Schedule”:
        the
        Pricing Schedule attached as Schedule 1.02(b) to the Investment
        Agreement.

       

      “Prime
        Rate”:
        that
        rate of interest so denominated and set by the Administrative Agent from
        time to
        time as an interest rate basis for borrowings. The Prime Rate is but one
        of
        several interest rate bases used by Administrative Agent, and is set by the
        Administrative Agent as a general reference rate of interest, taking into
        account such factors as the Administrative Agent may deem appropriate, it
        being
        understood that many of the Administrative Agent’s commercial or other loans are
        priced in relation to such rate, that it is not necessarily the lowest or
        best
        rate actually charged to any customer and that the Administrative Agent may
        make
        various commercial or other loans at rates of interest having no relationship
        to
        such rate.

       

      “Property”:
        any
        kind of property or asset, whether real, personal or mixed, or tangible or
        intangible, and any interest therein.

       

      “Purchase
        Closing Date”:
        as
        defined in Section 15(e) of the Lease.

       

      “Purchase
        Price”:
        at any
        time of determination, an amount equal to the sum, as of the purchase date
        of
        (i) the aggregate amount of the Unrecovered Lessor Investments attributable
        to
        the A Percentage Lessor Investments, plus (ii) all accrued but unpaid A
        Percentage Yield through the end of the Lease Term, plus (iii) the aggregate
        amount of the Unrecovered Lessor Investments attributable to the B Percentage
        Lessor Investments, plus (iv) all accrued but unpaid B Percentage Yield through
        the end of the Lease Term, plus (v) all accrued, unpaid Supplemental Rent
        through the end of the Lease Term, plus (iv) all other amounts owing by the
        Company under the Operative Documents. 

       

      “Real
        Property”:
        as
        defined in Section 26(i)(2) of the Lease.

       

      “Redeemable
        Preferred Stock”:
        of any
        Person means any preferred stock issued by such Person (i) required (by the
        terms of the governing instruments or at the option of the holder thereof)
        to be
        mandatorily redeemed for cash at any time prior to the Maturity Date (by
        sinking
        fund or similar payments or otherwise) or (ii) redeemable at the option of
        the
        holder thereof at any time prior to the Maturity Date.

       

      “Register”:
        as
        defined in Section 11.06(d) of the Investment Agreement.

       

      “Regulation
        A”:
        Regulation A of the Board of Governors of the Federal Reserve System, as
        in
        effect from time to time, together with all official rulings and interpretations
        issued thereunder.

       

      “Regulation
        D”:
        Regulation D of the Board of Governors of the Federal Reserve System, as
        in
        effect from time to time, together with all official rulings and interpretations
        issued thereunder.

       

      “Regulation
        T”:
        Regulation T of the Board of Governors of the Federal Reserve System, as
        in
        effect from time to time, together with all official rulings and interpretations
        issued thereunder.

       

      “Regulation
        U”:
        Regulation U of the Board of Governors of the Federal Reserve System, as
        in
        effect from time to time, together with all official rulings and interpretations
        issued thereunder.

       

      “Regulation
        X”:
        Regulation X of the Board of Governors of the Federal Reserve System, as
        in
        effect from time to time, together with all official rulings and interpretations
        issued thereunder.

       

      “Related
        Contract”:
        any
        agreement, contract, bill of sale, receipt or Vendor’s warranty relating to or
        for the purchase, acquisition, design, engineering, testing, manufacture,
        renovation, assembly, construction or installation of the Facility or any
        portion thereof or the provision of enhancements and improvements to the
        Facility, or otherwise in connection with the acquisition, ownership, use,
        operation or sale or other disposition of the Facility, made, entered into
        or
        received by the Company, as Lessee under the Lease or as Lessor’s agent, or by
        the Guarantor or the Company and assigned to the Lessor pursuant to the Original
        Agency Agreement or other Operative Document, with or from one or more Vendors
        or other Persons.

       

      “Rent”:
        Basic
        Rent, Supplemental Rent and the Final Rent Payment, collectively.

       

      “Rent
        Payment Date”:
        with
        respect to Basic Rent, each March 31st, June 30th, September 30th and December
        31st of each year, commencing on the first such date occurring after the
        Lease
        Commencement Date.

       

      “Rental
        Period”:
        with
        respect to Basic Rent, the period beginning on the Lease Commencement Date
        and
        ending on the first Rent Payment Date occurring thereafter and, thereafter,
        each
        subsequent period commencing on the day following each Rent Payment Date
        and
        ending on the next Rent Payment Date or on the Lease Termination
        Date.

       

      “Reported
        Net Income”:
        for
        any period, the Net Income of the Guarantor and the Consolidated Subsidiaries
        determined on a consolidated basis.

       

      “Restatement
        Closing Date”:
        January 11, 2007.

       

      “Restricted
        Payment”:
        (i)
        any dividend or other distribution on any shares of the Guarantor’s Capital
        Stock (except dividends payable solely in shares of its Capital Stock or
        additional rights to acquire its Capital Stock) or (ii) any payment on account
        of the purchase, redemption, retirement or acquisition of (a) any shares
        of the
        Guarantor’s Capital Stock (except shares acquired upon the conversion thereof
        into other shares of its Capital Stock) or (b) any option, warrant or other
        right to acquire shares of the Guarantor’s Capital Stock.

       

      “Revolving
        Credit Agreement”:
        The
        Amended and Restated Credit Agreement dated as of July 30, 2004, among the
        Guarantor, as the Borrower, the Company, the lenders from time to time party
        thereto, and AmSouth Bank, as administrative agent for such lenders, as the
        same
        may be amended, restated, supplemented, or otherwise modified from time to
        time.

       

      “S&P”:
        Standard & Poor’s Ratings Group, a division of McGraw-Hill,
        Inc.

       

      “SAP”:
        with
        respect to any Insurance Subsidiary, the statutory accounting practices
        prescribed or permitted by the insurance commissioner (or other similar
        authority) as of the Restatement Closing Date in the jurisdiction of
        incorporation of such Insurance Subsidiary for the preparation of annual
        statements and other financial reports by insurance companies of the same
        type
        as such Insurance Subsidiary.

       

      “Scheduled
        Lease Termination Date”:
        the
        date that is 7 years after the Lease Commencement Date.

       

      “Secondary
        Master Assignment and Acceptance”:
        that
        certain Secondary Master Assignment and Acceptance dated as of the Restatement
        Closing Date by and among WDC, the Administrative Agent, the Company, Guarantor,
        SunTrust Bank, Wachovia Bank, National Association, and Citibank, N.A., as
        the
        same may be amended, restated, supplemented, or otherwise modified from time
        to
        time. 

       

      “Secured
        Amount”:
        as
        defined in Section 26 of the Lease.

       

      “Secured
        Party”:
        as
        defined in Section 26 of the Lease.

       

      “Security
        Instruments”:
        collectively, the Lease and any and all agreements or instruments, including,
        without limitation, financing statements, now or hereafter executed and
        delivered by the Company as security for the payment or performance of the
        Secured Amount, as such agreements or instruments may be amended, supplemented
        or otherwise modified from time to time.

       

      “Short-Term
        Indebtedness”:
        all
        Indebtedness that by its terms matures within one year from, and that is
        not
        renewable at the option of the obligor to a date later than one year after,
        the
        date such Indebtedness was incurred. Any Indebtedness which is extended or
        renewed (other than pursuant to the option of the obligor) shall be deemed
        to
        have been incurred at the date of such extension or renewal.

       

      “Site”:
        certain real property located in Jefferson County, Alabama, described in
        greater
        detail on Exhibit
        A
        to the
        Investment Agreement and the Lease.

       

      “Sublessee”:
        as
        defined in Section 21(c) of the Lease.

       

      “Subsidiary”:
        any
        corporation or other entity of which securities or other ownership interests
        having ordinary voting power to elect a majority of the board of directors
        or
        other persons performing similar functions are at the time directly or
        indirectly owned by the Guarantor. A separate account established pursuant
        to
        SAP or any applicable insurance regulatory requirement shall be deemed not
        to be
        a Subsidiary.

       

      “Supplemental
        Rent”:
        as
        defined in Section 3(c) of the Lease and Section 2.04 of the Investment
        Agreement.

       

      “Support
        Expenses”:
        as
        defined in Section 8.30.

       

      “Surplus
        Note”:
        a
        promissory note executed by an Insurance Subsidiary to the Guarantor of the
        type
        generally described in the insurance industry as a “surplus note”, the principal
        amount of which is properly recorded by the issuer as an addition to capital
        and
        surplus rather than as a liability in accordance with SAP.

       

      “Survey”:
        an
        ALTA-ACSM boundary survey of the Site and existing improvements in form and
        substance satisfactory to the Lessor, containing such certifications as the
        Lessor may request, and completed or certified as recently before the
        Restatement Closing Date as is satisfactory to the Lessor.

       

      “Synthetic
        Lease Obligations”:
        of a
        Person means the amount of the obligations of such Person under any lease
        that
        would not be shown as a liability, but would be treated as an operating lease,
        in accordance with GAAP, but which arise under a transaction in which the
        property subject to such lease is owned by the lessee for purposes of the
        Code.
        Obligations under the Lease are Synthetic Lease Obligations.

       

      “Taxes”:
        as
        defined in Section 4.06(a) of the Investment Agreement.

       

      “Termination
        Event”:
        as
        defined in Section 15(a) of the Lease.

       

      “Termination
        Value”:
        at any
        time will be an amount equal to the sum of (i) the Final Rent Payment, plus
        (ii)
        the Unrecovered Lessor Investments attributable to that portion of the B
        Percentage Lessor Investments attributable to the Non-Recourse Amount.

       

      “Third
        Party”:
        any
        Person other than (i) the Lessor, (ii) the Company, (iii) the Guarantor,
        or (iv)
        any Affiliate of any of the foregoing.

       

      “UCC”:
        the
        Uniform Commercial Code as in effect in the State of Alabama and any other
        jurisdiction whose laws may be mandatorily applicable.

       

      “Unconsolidated
        Cash Inflow Available for Interest Expense”:
        for
        any period of calculation, the sum (without duplication) of (a) all amounts
        received by the Guarantor from the Subsidiaries during such period as (i)
        interest and principal on Indebtedness (including but not limited to Surplus
        Notes) and (ii) management fees (net of expenses incurred in providing the
        services for which such management fees were paid), (b) all amounts that
        the
        Subsidiaries were permitted, under applicable laws and regulations, to
        distribute to the Guarantor during such period as dividends, whether or not
        so
        distributed, and (c) other income of the Guarantor.

       

      “Unrecovered
        Facility Cost”:
        at any
        time the sum of (i) the aggregate original Facility Cost, less
        (ii) the
        aggregate amount of any voluntary prepayments of Facility Cost and casualty
        and
        condemnation proceeds received by the Lessor.

       

      “Unrecovered
        Lessor Investments”:
        at any
        time an amount equal to the Unrecovered Facility Cost at such time.

       

      “Upfront
        Supplemental Rent”:
        as
        defined in Section 2.04(b) of the Investment Agreement.

       

      “Vendor”:
        any
        designer, supplier, manufacturer or installer of, or provider of Property
        or
        services with respect to, the Facility or any Property included therein or any
        part thereof.

       

      “WCI”:
        Wachovia Capital Investments, Inc.

       

      “Wholly
        Owned Subsidiary”:
        any
        Subsidiary all of the shares of capital stock or other ownership interests
        of
        which (except directors’ qualifying shares) are at the time directly or
        indirectly owned by the Guarantor.

       

      “Yield”:
        has
        the meaning given such term in Section 3.03(a). Any unqualified reference
        to
“Yield” shall mean a reference to A Percentage Yield or B Percentage Yield, or
        both, as the context shall require.

       

      “Yield
        Period”:
        with
        respect to the Lessor Investments, each Rental Period; provided,
        however,
        that:

       

      (i) the
        duration of any Yield Period that commences before the Scheduled Lease
        Termination Date and would otherwise end after the Scheduled Lease Termination
        Date shall end on the Scheduled Lease Termination Date; and

       

      (iii) if
        the
        last day of such Yield Period would otherwise occur on a day that is not
        a
        Business Day, such last day shall be extended to the next succeeding Business
        Day, except
        if such
        extension would cause such last day to occur in a new calendar month, then
        such
        last day shall occur on the next preceding Business Day.

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      SCHEDULE
        1.02(b)

       

      Pricing
        Schedule

       

      The
        terms
“Applicable
        Margin”
means,
        for any day, the rate per annum set forth below corresponding to the Pricing
        Level that applies on such day:

       

      
        	
                Pricing
                  Level

                 

              	
                Level
                  I

                 

              	
                Level
                  II

                 

              	
                Level
                  III

                 

              	
                Level
                  IV

                 

              	
                Level
                  V

                 

              	
                Level
                  VI

                 

              
	
                Applicable
                  Margin for Lessor Investments on:

                 

              	 	 	 	 	 	 
	
                1.
                  Adjusted LIBO Rate basis

                 

              	
                0.60%

                 

              	
                0.65%

                 

              	
                0.75%

                 

              	
                0.90%

                 

              	
                1.40%

                 

              	
                1.75%

                 

              
	
                2.
                  Base Rate basis

                 

              	
                0.00%

                 

              	
                0.00%

                 

              	
                0.00%

                 

              	
                0.00%

                 

              	
                0.40%

                 

              	
                0.75%

                 

              

      

      

       

      For
        purposes of this Pricing Schedule, the following terms have the following
        meanings:

       

      “Level
        I Pricing”
applies
        if the Debt Rating at the most recent Performance Pricing Determination Date
        was
        equal to or better than A+ or A1.

       

      “Level
        II Pricing”
applies
        if the Debt Rating at the most recent Performance Pricing Determination Date
        was
        equal to A or A2.

       

      “Level
        III Pricing”
applies
        if the Debt Rating at the most recent Performance Pricing Determination Date
        was
        equal to A- or A3.

       

      “Level
        IV Pricing”
applies
        if the Debt Rating at the most recent Performance Pricing Determination Date
        was
        equal to or less than BBB+ or Baa1, but greater than BBB- or Baa3.

       

      “Level
        V Pricing”
applies
        if the Debt Rating at the most recent Performance Pricing Determination Date
        was
        equal to BBB- or Baa3.

       

      “Level
        VI Pricing”
applies
        if the Debt Rating at the most recent Performance Pricing Determination Date
        was
        less than BBB- or Baa3 or if there is no Debt Rating.

       

      All
        determinations hereunder shall be made by the Lessor unless the Majority
        Funding
        Parties shall object to any such determination. The Guarantor shall promptly
        notify the Lessor of any change in the Debt Rating as required in the Operative
        Documents.

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      SCHEDULE
        1.02(c)

       

      Limited
        Recourse Events of Default

       

      1.
        Any
        Event of Default under Section 9.01(b) is a Limited Recourse Event of Default
        to
        the extent such Event of Default occurred on account of any breach of any
        of the
        following representations and warranties (with certain exceptions as noted
        below; all section references in this Schedule 1.02(c) are deemed to be
        references to the Investment Agreement, except to the extent otherwise expressly
        provided):

       

      (a) The
        second sentence of Section 7.01(a);

       

      (b) Section
        7.01(b)(v);

       

      (c) Section
        7.01(d);

       

      (d) Section
        7.01(e)(i);

       

      (e) Section
        7.01(f);

       

      (f) Section
        7.01(g), but only to the extent any breach does not relate to the payment
        of
        taxes relating to the Facility;

       

      (g) Section
        7.01(h);

       

      (h) Section
        7.01(i);

       

      (i) Section
        7.01(k), but only to the extent such breach does not relate to (i) the Company’s
        title or interest in and to the Facility or (ii) Liens on the Site, the
        Facility, and any of the Collateral;

       

      (j)
         Section
        7.01(l), but only to the extent such breach does not relate to any agreement,
        instrument or undertaking respecting the Facility or the operation or
        maintenance thereof;

       

      (k) Section
        7.01(m), but only to the extent such breach does not relate to any information
        provided with respect to the Facility, the operation thereof, or the Borrower’s
        use or maintenance of the Facility;

       

      (l) Sections
        7.01(n)(i), (ii), and (iii), but only to the extent such breach does not
        relate
        to the Facility; and 

       

      (m) Section
        7.01(o); and

       

      (n)
         Any
        representation and warranty covered by Section 9.01(b) but which is not set
        forth in Section 7.01 of the Investment Agreement, but only to the extent
        such
        breach (i) does not relate to the Facility, the operation thereof, the Company’s
        use or maintenance thereof, or the enforceability of the Operative Documents
        and
        (ii) is not objectively determinable.

       

      2.
        Any
        Event of Default under Section 9.01(c) or (d) is a Limited Recourse Event
        of
        Default to the extent such Event of Default occurred on account of any breach
        of
        any of the following covenants or agreements (with certain exceptions as
        noted
        below):

       

      (a) The
        first
        sentence of Section 8.08, but only to the extent such breach does not relate
        to
        laws, regulations and similar requirements of governmental authorities
        applicable to the Facility, the operation thereof, or the Borrower’s use or
        maintenance of the Facility;

       

      (b) The
        second sentence of section 8.10, but only to the extent such breach does
        not
        relate to the maintenance and preservation of the Facility; 

       

      (c) Section
        8.11, but only to the extent such breach does not relate to Environmental
        Liabilities, pending or threatened Environmental Proceedings, Environmental
        Notices, Environmental Judgments and orders, and Environmental Releases
        concerning, in whole or in part, the Facility;

       

      (c)
         Section
        8.12, but only to the extent such breach does not relate to the use, production,
        manufacture, processing, treatment, recycling, generation, storage, disposal
        of,
        or management at, or otherwise handling, or shipping or transporting to or
        from
        the Facility;

       

      (d) Section
        8.13, but only to the extent such breach relates to an Environmental Release
        at
        or on the Facility;

       

      (e) Section
        8.14; and

       

      (f)
         Any
        other
        covenant or agreement covered by Sections 9.01(c) or (d) but which is not
        set
        forth in Article VIII of the Investment Agreement, but only to the extent
        such
        breach (i) does not relate to the Facility, the operation thereof, the Company’s
        use or maintenance thereof, or the enforceability of the Operative Documents
        and
        (ii) is not objectively determinable.

       

      3. Any
        Event
        of Default under Section 9.01(n) is a Limited Recourse Event of
        Default.

       

      All
        other
        Events of Default described in Section 9.01 of the Investment Agreement are
        not
        Limited Recourse Events of Default, even if the facts and circumstances giving
        rise to such Event of Default also cause such Event of Default to constitute,
        in
        part, a Limited Recourse Event of Default.

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      SCHEDULE
        7.01(e)

       

      Litigation

       

      None.

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      SCHEDULE
        7.01(h)

       

      Subsidiaries

       

      [DELIVERED
        SEPARATELY]

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      SCHEDULE
        7.01(n)

       

      Environmental
        Matters

       

      The
        Company installed an above-ground storage tank on February 19, 1999 that
        holds
        diesel fuel for generators used to power the Facility. 

       

      

        

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

           

        

        
          *
            This
            date should be no earlier than the date of consent by the Lessor.Exhibit 10D Amended & Restated Guaranty

     

    Exhibit
      10(d)

     

    

      AMENDED
        AND RESTATED GUARANTY

       

      THIS
        AMENDED AND RESTATED GUARANTY (this "Guaranty")
        is
        made as of January 11, 2007, by PROTECTIVE LIFE CORPORATION, a Delaware
        corporation (the "Guarantor"),
        in
        favor of Wachovia Development Corporation (the "Lessor"), for the ratable
        benefit of the Lessor and the Lease Participants (as defined
        below).

       

      RECITALS

       

      WHEREAS,
        pursuant to the Original Ground Lease (as this and other terms used in these
        recitals are defined in accordance with Section 1 below), WCI acquired a
        ground
        lease of certain real property located in Jefferson County, Alabama, and,
        pursuant to the Original Lease Documents, constructed and installed on the
        Site
        an annex office building and a related parking deck and related enhancements
        and
        improvements, including furniture, fixtures and equipment, all of which comprise
        the Facility; and

       

      WHEREAS,
        pursuant to the Original Lease Documents, Protective Life Insurance Company
        (together with any successor or permitted assign under the terms of the
        Operative Documents, the “Company”),
        as
        agent for WCI under the Original Agency Agreement, completed the construction
        and installation of all such enhancements and improvements on the Site and
        agreed to provide operations, maintenance and management support for the
        Facility; and

       

      WHEREAS,
        in order to finance the acquisition of WCI’s ground lease of the Site and the
        construction of the Facility on the Site for the ultimate use and benefit
        of the
        Company in accordance with the Original Lease Agreement, the Company, WCI
        (as
        lessor) and certain “Lease Participants” entered into the Original Investment
        Agreement, whereby WCI, as lessor, made certain advances in an aggregate
        amount
        of $75,000,000 and the Lease Participants, among other things, made certain
        advances in exchange for Ownership Interests in the Facility; and

       

      WHEREAS,
        to induce WCI and the Lease Participants to enter into the Original Investment
        Agreement and other Original Lease Documents, the Guarantor executed and
        delivered the Original Guaranty Agreement in favor of WCI (for the ratable
        benefit of the Lease Participants); and

       

      WHEREAS,
        WCI has assigned 100% of its right, title, and interest in and to the Original
        Lease Documents to Lessor pursuant to the terms of the Lessor Assignment
        Agreement; and

       

      WHEREAS,
        the Company has requested to refinance and extend the maturity of the Original
        Lease Agreement by, among other things, entering into that certain Amended
        and
        Restated Ground Lease dated as of the date hereof (as the same may be amended,
        restated, supplemented, or otherwise modified from time to time, the
“Ground
        Lease”),
        that
        certain Amended and Restated Investment and Participation Agreement dated
        as of
        the date hereof (as the same may be amended, restated, supplemented, or
        otherwise modified from time to time, the “Investment
        Agreement”),
        and
        that certain Amended and Restated Lease Agreement dated as of the date hereof
        (as the same may be amended, restated, supplemented, or otherwise modified
        from
        time to time, the “Lease”);
        and

       

      WHEREAS,
        to induce the Lessor to enter into the Ground Lease, the Investment Agreement,
        and the Lease, among other things, the Guarantor has agreed to execute and
        deliver this Guaranty (as an amendment and restatement of the Original Guaranty
        Agreement), whereby the Guarantor amends and restates its agreement to guarantee
        the obligations of the Company to the Lessor (for itself and for the ratable
        benefit of the Lease Participants) under the Operative Documents (including,
        without limitation, the Investment Agreement and the Lease);

       

      NOW,
        THEREFORE, in consideration of the premises and the covenants and agreements
        herein contained, and for other good and valuable consideration, the receipt
        and
        sufficiency of which are hereby acknowledged, the Guarantor
        hereby agrees as follows:

       

      SECTION
        1. Definitions.
        Terms
        defined in the Investment Agreement or in Schedule 1.02 to the Investment
        Agreement and not otherwise defined herein have, as used herein, the respective
        meanings provided for therein.

       

      SECTION
        2. Incorporation
        of Representations, Warranties and Covenants.
        The
        representations, warranties and covenants of the Guarantor contained in Articles
        VII and VIII of the Investment Agreement are incorporated herein by reference,
        and the Guarantor shall be bound thereby as fully as if they were set forth
        herein.

       

      SECTION
        3. The
        Guaranty.
        The
        Guarantor, as primary obligor and not merely as surety, hereby irrevocably
        and
        unconditionally guarantees  the full and punctual payment (whether at
        stated maturity, upon acceleration or otherwise) when due of all
        obligations of, and all amounts owing by, the Company (but not of the
        Lessor) under the Lease, the Investment Agreement, and all other Operative
        Documents, including, without limitation:

       

      (a) all
        obligations to pay Rent, Impositions, Taxes, Other Taxes, Support Expenses,
        the
        Termination Value where the Company has not elected to acquire the Facility
        by
        payment of the Purchase Price upon the occurrence of a Cancellation Event,
        the
        Purchase Price where the Company elects to acquire the Facility, increased
        costs
        and compensation for reduced returns under Section 5.03 of the Investment
        Agreement, compensation under Section 5.05 of the Investment Agreement,
        expenses and indemnities under Section 11.03 of the Investment Agreement
        and all other terms and provisions of the Operative Documents and otherwise,
        and
        Yield or interest at the Default Rate in respect of overdue Rent, Yield and
        all
        other amounts owing or payable of whatever nature, and

       

      (b) the
        full
        and punctual performance when due of all obligations and agreements of the
        Company to or in favor of the Lessor or the Lease Participants under the
        Lease,
        the Investment Agreement, and all other Operative Documents, including, without
        limitation, the Company's obligation to return the Facility to the Lessor
        in
        accordance with Section 16 of the Lease if the Company has not elected to
        acquire the Facility (all of the foregoing obligations in clauses (a) and
        (b) above being referred to collectively as the "Guaranteed
        Obligations";
        provided,
        that
        notwithstanding anything herein to the contrary, if no Cancellation Event
        has
        occurred, and the Company has elected to pay the Final Rent Payment in
        accordance with Section 15(a)(ii)(B) of the Lease, the Company shall have
        no obligation to pay the Unrecovered Lessor Investments attributable to that
        portion of the B Percentage Lessor Investments which constitute the Non-Recourse
        Amount, which under such circumstances shall not constitute a part of the
        Guaranteed Obligations), and agrees to pay any and all expenses (including
        reasonable attorneys' fees and expenses) incurred by the Lessor, the Lease
        Participants and their respective successors, transferees and assigns in
        enforcing any rights under this Guaranty. Without limiting the generality
        of the
        foregoing, the Guarantor's liability shall extend to all amounts that constitute
        part of the Guaranteed Obligations and would be owed by the Company to the
        Lessor or the Lease Participants but for the fact that they are unenforceable
        or
        not allowable due to the existence of a bankruptcy, reorganization or similar
        case or proceeding involving the Company. For purposes of determining when
        an
        obligation is "due"
        for
        purposes of this Guaranty, such term shall be interpreted to mean due in
        accordance with the terms of this Guaranty and without regard to the amendment,
        modification or rejection of any Guaranteed Obligation in any bankruptcy
        or
        other reorganization
        case or proceeding.

       

      Unless
        otherwise directed in writing by Lessor, Guarantor acknowledges and agrees
        that,
        in accordance with Section 10.02 of the Investment Agreement, all payments
        to be
        made by Guarantor hereunder shall be made directly to the Administrative
        Agent,
        on behalf of the Lessor and the Lease Participants, and the Administrative
        Agent, in turn, will apply all of such payments so made in accordance with
        the
        applicable terms of the Operative Documents. All such payments actually received
        by the Administrative Agent shall constitute constructive receipt thereof
        by the
        Lessor.

       

      SECTION
        4. Guaranty
        Unconditional.
        The
        Guarantor guarantees that the Guaranteed Obligations will be paid and performed
        strictly in accordance with their terms, regardless of any law, regulation
        or
        order now or hereafter in effect in any jurisdiction affecting any of such
        terms
        or the rights of the Company with respect thereto. The obligations of the
        Guarantor under this Guaranty are independent of the Guaranteed Obligations
        and
        a separate action or actions may be brought and prosecuted against the Guarantor
        to enforce this Guaranty, irrespective of whether any action is brought against
        the Company or any of its Affiliates or whether the Company or any of its
        Affiliates is joined in any such action or actions. The obligations of the
        Guarantor hereunder shall be irrevocable, unconditional and absolute and,
        without limiting the generality of the foregoing, shall not be released,
        discharged or otherwise affected by:

       

      (a)  any
        extension, renewal, settlement, compromise, waiver or release in respect
        of any
        obligation of the Company under the Lease, the Investment Agreement, or any
        other Operative Document, by operation of law or otherwise or any obligation
        of
        any other guarantor of any of the Guaranteed Obligations;

       

      (b)  any
        modification or amendment of or supplement to the Lease, the Investment
        Agreement, or any other Operative Document;

       

      (c)  any
        release, nonperfection or invalidity of any direct or indirect security for
        any
        obligation of the Company under the Lease, the Investment Agreement, any
        other
        Operative Document or any obligations of any other guarantor of any of the
        Guaranteed Obligations;

       

      (d)  any
        change in the corporate existence, structure or ownership of the Company,
        or any
        other guarantor of any of the Guaranteed Obligations, or any insolvency,
        bankruptcy, reorganization or other similar case or proceeding affecting
        the
        Company, or any other guarantor of the Guaranteed Obligations, or its assets
        or
        any resulting release or discharge of any obligation of the Company, or any
        other guarantor of any of the Guaranteed Obligations; 

       

      (e)  the
        existence of any claim, set-off or other rights which the Guarantor may have
        at
        any time against the Company, any other guarantor of any of the Guaranteed
        Obligations, the Administrative Agent, the Lessor, any Lease Participant
        or any
        other Person, whether in connection herewith or any unrelated transactions,
        provided that nothing herein shall prevent the assertion of any such claim
        by
        separate suit or compulsory counterclaim;

       

      (f)  any
        invalidity or unenforceability relating to or against the Company, or any
        other
        guarantor of any of the Guaranteed Obligations, for any reason related to
        the
        Investment Agreement, any other Operative Document or any other guaranty
        of the
        Guaranteed Obligations, or any provision of applicable law or regulation
        purporting to prohibit the payment by the Company, or any other guarantor
        of the
        Guaranteed Obligations, of amounts due under the Lease or any other amount
        payable by the Company under the Investment Agreement, or any other Operative
        Document, or purporting to limit the claim of the Lessor against the Company
        under the Lease; or

       

      (g)  any
        other
        act or omission to act or delay of any kind by the Company, any other guarantor
        of the Guaranteed Obligations, the Lessor or any other Person or any other
        circumstance whatsoever which might, but for the provisions of this paragraph,
        constitute a legal or equitable discharge of the Guarantor's obligations
        hereunder, including, without limitation, any failure, omission, delay or
        inability on the part of the Lessor or the Lease Participants to enforce,
        assert
        or exercise any right, power or remedy conferred on the Lessor or the Lease
        Participants under the Lease, the Investment Agreement, or
        any
        other Operative Document.

       

      SECTION
        5. Discharge
        Only Upon Payment In Full; Reinstatement In Certain
        Circumstances.
        The
        Guarantor's obligations hereunder shall remain in full force and effect until
        all Guaranteed Obligations shall have been paid in full. If at any time any
        payment of Rent or Yield or any other amount payable by the Company under
        the
        Investment Agreement, or any other Operative Document is rescinded or must
        be
        otherwise restored or returned upon the insolvency, bankruptcy or reorganization
        of the Company or otherwise, the Guarantor's obligations hereunder with respect
        to such payment shall be reinstated as though such payment had been due but
        not
        made at such time.

       

      SECTION
        6. Waiver
        of Notice by the Guarantor.
        The
        Guarantor irrevocably waives acceptance hereof, presentment, demand, protest
        and, to the fullest extent permitted by law, any notice not provided for
        herein,
        as well as any requirement that at any time any action be taken by any Person
        against the Company, any other guarantor of the Guaranteed Obligations or
        any
        other Person. The Lessor shall, to the extent reasonably practicable, provide
        prior written notice to the Guarantor of any intentional action (or, in the
        case
        of an unintentional action, such notice shall be provided upon discovery
        thereof
        by the Lessor) taken by the Lessor referred to in Section 3,
provided,
        however,
        that
        the failure to provide such notice shall not affect the Guarantor's obligations
        under this Guaranty.

       

      SECTION
        7. Stay
        of Acceleration.
        If
        acceleration of the time for payment of any amount payable by the Company
        under
        the Lease, the Investment Agreement or any other Operative Document is stayed
        upon the insolvency, bankruptcy or reorganization of the Company, all such
        amounts otherwise subject to acceleration under the terms of the Lease, the
        Investment Agreement or any other Operative Document
        shall nonetheless be payable by the Guarantor hereunder forthwith on demand
        by
        the Lessor.

       

      SECTION
        8. Notices.
        All
        notices and other communications provided for hereunder shall be given in
        accordance with the provisions of Section 11.02 of the Investment
        Agreement.
        Guarantor acknowledges and agrees that, pursuant to Section 11.02 of the
        Investment Agreement, the Administrative Agent is entitled to receive and
        deliver notices under the Operative Documents on behalf of the Lessor. In
        accordance with Section 10.02 of the Investment Agreement, Lessor and Guarantor
        agree that notice delivered by Guarantor to the Administrative Agent shall
        constitute constructive receipt thereof by Lessor and that notice delivered
        by
        the Administrative Agent shall constitute in all respects notice delivered
        by
        the Lessor.

       

      SECTION
        9. No
        Waivers.
        No
        failure or delay by the Lessor in exercising any right, power or privilege
        hereunder shall operate as a waiver thereof nor shall any single or partial
        exercise thereof preclude any other or further exercise thereof or the exercise
        of any other right, power or privilege. The rights and remedies provided
        in this
        Guaranty, the Lease, the Investment Agreement and the other Operative Documents
        shall be cumulative and shall not be exclusive of any other rights or remedies
        provided by law.

       

      SECTION
        10. Successors
        and Assigns; The Administrative Agent. 

       

      (a) This
        Guaranty is for the benefit of the Lessor and its successors and assigns,
        including the Lease Participants, to the extent of their Ownership Interests.
        This Guaranty may not be assigned by the Guarantor without the prior written
        consent of the Lessor and each Lease Participant and shall be binding upon
        the
        Guarantor and its successors and permitted assigns.

       

      (b) In
        accordance with Section 10.02 of the Investment Agreement (which is hereby
        incorporated herein by this reference), Guarantor acknowledges and agrees
        that
        the Administrative Agent has been appointed to undertake, on Lessor’s and, in
        certain cases, the Lease Participants’ behalf, certain actions with respect to
        the administration of this Guaranty, the other Operative Documents, and the
        transactions contemplated herein and therein. Guarantor agrees to abide by
        the
        provisions of Section 10.02 of the Investment Agreement and other provisions
        in
        the Operative Documents in respect of the Administrative Agent’s role and
        function in connection with the administration of the transactions contemplated
        therein, including, without limitation, the payment of the Guaranteed
        Obligations and other amounts owing under the Operative Documents directly
        to
        the Administrative Agent for the account of the Lessor and the Lease
        Participants, as applicable, the receipt and delivery of notices, reports,
        financial statements, and the like to the Administrative Agent on the Lessor’s
        and the Lease Participants’ behalf, and permitting, where applicable, the
        Administrative Agent to exercise, on the Lessor’s and the Lease Participants’
behalf, the rights and remedies afforded Lessor under the Operative
        Documents.

       

      SECTION
        11. Changes
        in Writing.
        Neither
        this Guaranty nor any provision hereof may be changed, waived, discharged
        or
        terminated orally, but only in writing signed by the Guarantor and the Lessor
        (with the consent of all of the Funding Parties).

       

      SECTION
        12. Governing
        Law; Submission To Jurisdiction.

       

      (a)  This
        Guaranty (including, but not limited to, the validity and enforceability
        hereof) shall be governed by, and construed in accordance with, the laws of
        the State of New York, other than the conflict of laws rules thereof (other
        than
        Section 5-1401 of the New York General Obligations Law). 

       

      (B)  THE
        GUARANTOR HEREBY IRREVOCABLY SUBMITS TO THE JURISDICTION OF ANY NEW YORK
        STATE
        OR FEDERAL COURT SITTING IN NEW YORK CITY AND ANY APPELLATE COURT FROM ANY
        THEREOF IN ANY ACTION OR PROCEEDING BY THE LESSOR IN RESPECT OF, BUT ONLY
        IN
        RESPECT OF, ANY CLAIMS OR CAUSES OF ACTION ARISING OUT OF OR RELATING TO
        THIS
        GUARANTY OR THE OTHER OPERATIVE DOCUMENTS (SUCH CLAIMS AND CAUSES OF ACTION,
        COLLECTIVELY, BEING "PERMITTED
        CLAIMS"),
        AND THE GUARANTOR HEREBY IRREVOCABLY AGREES THAT ALL PERMITTED CLAIMS MAY
        BE
        HEARD AND DETERMINED IN SUCH NEW YORK STATE COURT OR IN SUCH FEDERAL COURT.
        THE
        GUARANTOR HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT IT MAY EFFECTIVELY
        DO
        SO, THE DEFENSE OF AN INCONVENIENT FORUM TO THE MAINTENANCE OF SUCH ACTION
        OR
        PROCEEDING IN ANY AFOREMENTIONED COURT IN RESPECT OF PERMITTED CLAIMS. THE
        GUARANTOR HEREBY IRREVOCABLY AGREES THAT SERVICE OF COPIES OF THE SUMMONS
        AND
        COMPLAINT AND ANY OTHER PROCESS WHICH MAY BE SERVED BY THE LESSOR IN ANY
        SUCH
        ACTION OR PROCEEDING IN ANY AFOREMENTIONED COURT IN RESPECT OF PERMITTED
        CLAIMS
        MAY BE MADE BY DELIVERING A COPY OF SUCH PROCESS TO THE GUARANTOR BY COURIER
        AND
        BY CERTIFIED MAIL (RETURN RECEIPT REQUESTED), FEES AND POSTAGE PREPAID, AT
        THE
        GUARANTOR'S ADDRESS DETERMINED PURSUANT TO SECTION 8.
        THE GUARANTOR AGREES THAT A FINAL JUDGMENT IN ANY SUCH ACTION OR PROCEEDING
        SHALL BE CONCLUSIVE AND MAY BE ENFORCED IN OTHER JURISDICTIONS BY SUIT ON
        THE
        JUDGMENT OR IN ANY OTHER MANNER PROVIDED BY LAW.

       

      (c)  Nothing
        in this Section 12: (i) shall affect the right of the Lessor to serve
        legal process in any other manner permitted by law or affect any right otherwise
        existing of the Lessor to bring any action or proceeding against the Guarantor
        or its property in the courts of other jurisdictions or (ii) shall be
        deemed to be a general consent to jurisdiction in any particular court or
        a
        general waiver of any defense or a consent to jurisdiction of the courts
        expressly referred to in Subsection (a) above in any action or
        proceeding in respect of any claim or cause of action other than Permitted
        Claims.

       

      SECTION
        13. Taxes,
        Etc.
        All
        payments required to be made by the Guarantor hereunder shall be made without
        set-off or counterclaim and free and clear of, and without deduction or
        withholding for or on account of, any present or future taxes, levies, imposts,
        duties or other charges of whatsoever nature imposed by any government or
        any
        political or taxing authority as required pursuant to Section 4.06 of the
        Investment Agreement.

       

      SECTION
        14. Subrogation.
        The
        Guarantor hereby agrees that it will not exercise any rights which it may
        acquire by way of subrogation under this Guaranty, by any payment made hereunder
        or otherwise, unless and until all of the Guaranteed Obligations shall have
        been
        paid in full. If any amount shall be paid to the Guarantor on account of
        such
        subrogation rights at any time when all of the Guaranteed Obligations shall
        not
        have been paid in full, such amount shall be held in trust for the benefit
        of
        the Lessor and the Lease Participants and shall forthwith be paid to the
        Administrative Agent, for the Lessor’s and the Lease Participants’ account, to
        be credited and applied to the Guaranteed Obligations, whether matured or
        unmatured, in accordance with the terms of the Investment
        Agreement.

       

      SECTION
        15. Waiver
        of Jury Trial.
        EACH
        OF THE GUARANTOR AND THE LESSOR WAIVES, TO THE FULLEST EXTENT PERMITTED BY
        APPLICABLE LAW, ANY RIGHT TO A TRIAL BY JURY IN ANY ACTION OR PROCEEDING
        TO
        ENFORCE OR TO DEFEND ANY RIGHTS UNDER THIS GUARANTY OR ANY OTHER OPERATIVE
        DOCUMENT OR UNDER AMENDMENT, INSTRUMENT, DOCUMENT OR AGREEMENT DELIVERED
        OR
        WHICH MAY IN THE FUTURE BE DELIVERED IN CONNECTION HEREWITH OR THEREWITH
        OR
        ARISING FROM ANY RELATIONSHIP EXISTING IN CONNECTION WITH THIS GUARANTY OR
        ANY
        OTHER OPERATIVE DOCUMENT, AND AGREES THAT ANY SUCH ACTION OR PROCEEDING SHALL
        BE
        TRIED BEFORE A COURT AND NOT BEFORE A JURY.

       

      SECTION
        16. Amendment
        and Restatement.
        This
        Guaranty constitutes an amendment and restatement of the Original Guaranty
        Agreement, and no novation of the obligations of Guarantor under the Original
        Guaranty Agreement shall be deemed to have occurred. Guarantor ratifies and
        reaffirms its guarantee obligations in light of the amendments and restatements
        to the Operative Documents entered into contemporaneously herewith.

       

      [Signature
        on following page.]

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      IN
        WITNESS WHEREOF, the Guarantor has caused this Guaranty to be duly executed,
        under seal, by its authorized officer as of the date first above
        written.

       

      [SEAL]

       

      PROTECTIVE
        LIFE CORPORATION, 

      a
        Delaware corporation 

       

      

       

      By:
        

      Name:

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