Document:

exv10w1

Exhibit 10.1

EXECUTION VERSION

 

CREDIT AGREEMENT

dated as of

March 31, 2011

among

ROBBINS & MYERS, INC.,

The Subsidiary Borrowers Party Hereto,

The Lenders Party Hereto,

JPMORGAN CHASE BANK, N.A.,

as Administrative Agent

and

PNC BANK, N.A.,

BANK OF MONTREAL and

WELLS FARGO BANK, N.A.,

as Co-Syndication Agents

 

J.P. MORGAN SECURITIES LLC,

as Sole Bookrunner and Sole Lead Arranger

 

 

 

TABLE OF CONTENTS

	 	 	 	 	 
	 	 	Page	 
	ARTICLE I Definitions
	 	 	1	 
	 
	 	 	 	 
	SECTION 1.01. Defined Terms
	 	 	1	 
	SECTION 1.02. Classification of Loans and Borrowings
	 	 	22	 
	SECTION 1.03. Terms Generally
	 	 	23	 
	SECTION 1.04. Accounting Terms; GAAP
	 	 	23	 
	SECTION 1.05. Foreign Currency Calculations
	 	 	23	 
	 
	 	 	 	 
	ARTICLE II The Credits
	 	 	24	 
	 
	 	 	 	 
	SECTION 2.01. Commitments
	 	 	24	 
	SECTION 2.02. Loans and Borrowings
	 	 	24	 
	SECTION 2.03. Requests for Revolving Borrowings
	 	 	25	 
	SECTION 2.04. [Intentionally Omitted]
	 	 	26	 
	SECTION 2.05. Swingline Loans
	 	 	26	 
	SECTION 2.06. Letters of Credit
	 	 	27	 
	SECTION 2.07. Funding of Borrowings
	 	 	32	 
	SECTION 2.08. Interest Elections
	 	 	32	 
	SECTION 2.09. Termination, Reduction and Increase of Commitments
	 	 	34	 
	SECTION 2.10. Repayment of Loans; Evidence of Debt
	 	 	35	 
	SECTION 2.11. Prepayment of Loans
	 	 	36	 
	SECTION 2.12. Fees
	 	 	36	 
	SECTION 2.13. Interest
	 	 	37	 
	SECTION 2.14. Alternate Rate of Interest
	 	 	38	 
	SECTION 2.15. Increased Costs
	 	 	39	 
	SECTION 2.16. Break Funding Payments
	 	 	40	 
	SECTION 2.17. Taxes
	 	 	41	 
	SECTION 2.18. Payments Generally; Pro Rata Treatment; Sharing of Set-offs
	 	 	44	 
	SECTION 2.19. Mitigation Obligations; Replacement of Lenders
	 	 	46	 
	SECTION 2.20. Subsidiary Borrowers
	 	 	47	 
	SECTION 2.21. Additional Reserve Costs
	 	 	47	 
	SECTION 2.22. Defaulting Lenders
	 	 	48	 
	 
	 	 	 	 
	ARTICLE III Representations and Warranties
	 	 	50	 
	 
	 	 	 	 
	SECTION 3.01. Organization; Powers
	 	 	50	 
	SECTION 3.02. Authorization; Enforceability
	 	 	50	 
	SECTION 3.03. Governmental Approvals; No Conflicts
	 	 	50	 
	SECTION 3.04. Financial Condition; No Material Adverse Change
	 	 	50	 
	SECTION 3.05. Properties
	 	 	51	 
	SECTION 3.06. Litigation and Environmental Matters
	 	 	51	 
	SECTION 3.07. Compliance with Laws and Agreements
	 	 	51	 
	SECTION 3.08. Investment Company Status
	 	 	51	 
	SECTION 3.09. Taxes
	 	 	52	 
	SECTION 3.10. ERISA
	 	 	52	 

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	 	 	Page	 
	SECTION 3.11. Disclosure
	 	 	52	 
	SECTION 3.12. Foreign Pension Plans
	 	 	52	 
	SECTION 3.13. Subsidiaries
	 	 	53	 
	SECTION 3.14. Environmental Matters
	 	 	53	 
	SECTION 3.15. Regulation U
	 	 	53	 
	SECTION 3.16. Solvency
	 	 	53	 
	SECTION 3.17. Labor Relations
	 	 	53	 
	 
	 	 	 	 
	ARTICLE IV Conditions
	 	 	54	 
	 
	 	 	 	 
	SECTION 4.01. Effective Date
	 	 	54	 
	SECTION 4.02. Each Credit Event
	 	 	55	 
	 
	 	 	 	 
	ARTICLE V Affirmative Covenants
	 	 	56	 
	 
	 	 	 	 
	SECTION 5.01. Financial Statements and Other Information
	 	 	56	 
	SECTION 5.02. Notices of Material Events
	 	 	57	 
	SECTION 5.03. Existence; Conduct of Business
	 	 	58	 
	SECTION 5.04. Payment of Obligations
	 	 	58	 
	SECTION 5.05. Maintenance of Properties; Insurance
	 	 	58	 
	SECTION 5.06. Books and Records; Inspection Rights
	 	 	58	 
	SECTION 5.07. Compliance with Laws
	 	 	58	 
	SECTION 5.08. Use of Proceeds and Letters of Credit
	 	 	58	 
	SECTION 5.09. Additional Subsidiary Guarantors
	 	 	59	 
	 
	 	 	 	 
	ARTICLE VI Negative Covenants
	 	 	59	 
	 
	 	 	 	 
	SECTION 6.01. Indebtedness
	 	 	59	 
	SECTION 6.02. Liens
	 	 	61	 
	SECTION 6.03. Fundamental Changes
	 	 	61	 
	SECTION 6.04. Investments, Loans, Advances, Guarantees and Acquisitions
	 	 	62	 
	SECTION 6.05. Swap Agreements
	 	 	64	 
	SECTION 6.06. Restricted Payments
	 	 	64	 
	SECTION 6.07. Transactions with Affiliates
	 	 	64	 
	SECTION 6.08. Restrictive Agreements
	 	 	65	 
	SECTION 6.09. Minimum Consolidated Interest Coverage Ratio
	 	 	65	 
	SECTION 6.10. Maximum Consolidated Leverage Ratio
	 	 	65	 
	SECTION 6.11. Sale and Leaseback Transactions
	 	 	65	 
	SECTION 6.12. Amendment of Organizational Documents
	 	 	65	 
	 
	 	 	 	 
	ARTICLE VII Events of Default
	 	 	66	 
	 
	 	 	 	 
	ARTICLE VIII The Administrative Agent
	 	 	68	 
	 
	 	 	 	 
	ARTICLE IX Miscellaneous
	 	 	70	 
	 
	 	 	 	 
	SECTION 9.01. Notices
	 	 	70	 
	SECTION 9.02. Waivers; Amendments
	 	 	71	 
	SECTION 9.03. Expenses; Indemnity; Damage Waiver
	 	 	72	 
	SECTION 9.04. Successors and Assigns
	 	 	73	 

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	 	 	Page	 
	SECTION 9.05. Survival
	 	 	77	 
	SECTION 9.06. Counterparts; Integration; Effectiveness
	 	 	77	 
	SECTION 9.07. Severability
	 	 	77	 
	SECTION 9.08. Right of Setoff
	 	 	78	 
	SECTION 9.09. Governing Law; Jurisdiction; Consent to Service of Process
	 	 	78	 
	SECTION 9.10. WAIVER OF JURY TRIAL
	 	 	78	 
	SECTION 9.11. Headings
	 	 	79	 
	SECTION 9.12. Confidentiality
	 	 	79	 
	SECTION 9.13. Interest Rate Limitation
	 	 	80	 
	SECTION 9.14. USA PATRIOT Act
	 	 	80	 
	SECTION 9.15. Conversion of Currencies
	 	 	80	 
	SECTION 9.16. Existing Credit Agreement Matters
	 	 	81	 
	 
	 	 	 	 
	SCHEDULES:
	 	 	 	 
	 
	 	 	 	 
	Schedule 1.01 — Pricing Schedule
	 	 	 	 
	Schedule 2.01 — Commitments
	 	 	 	 
	Schedule 2.06 — Existing Letters of Credit
	 	 	 	 
	Schedule 3.01 — Good Standing
	 	 	 	 
	Schedule 3.13 — Subsidiaries
	 	 	 	 
	Schedule 6.01 — Existing Indebtedness
	 	 	 	 
	Schedule 6.02 — Existing Liens
	 	 	 	 
	Schedule 6.04 — Existing Investments
	 	 	 	 
	Schedule 6.08 — Existing Restrictions
	 	 	 	 
	 
	 	 	 	 
	EXHIBITS:
	 	 	 	 
	 
	 	 	 	 
	Exhibit A — Form of Assignment and Assumption
	 	 	 	 
	Exhibit B — Form of Designation Letter
	 	 	 	 
	Exhibit C — Form of Termination Letter
	 	 	 	 
	Exhibit D — Mandatory Costs Rate
	 	 	 	 
	Exhibit E — U.S. Tax Certificate
	 	 	 	 

iii

 

          CREDIT AGREEMENT dated as of March 31, 2011, among ROBBINS & MYERS, INC., the Subsidiary
Borrowers party hereto, the LENDERS party hereto, and JPMORGAN CHASE BANK, N.A., as Administrative
Agent.

          The parties hereto agree as follows:

ARTICLE I

Definitions

          SECTION 1.01. Defined Terms. As used in this Agreement, the following terms have the
meanings specified below:

          “ABR”, when used in reference to any Loan or Borrowing, refers to whether such Loan,
or the Loans comprising such Borrowing, are bearing interest at a rate determined by reference to
the Alternate Base Rate.

          “Acquired Entity” has the meaning set forth in Section 6.04(f).

          “Adjusted Eurocurrency Rate” means an interest rate per annum (rounded upwards, if
necessary, to the next 1/16 of 1%) equal to (a) the Eurocurrency Rate for such Interest Period
multiplied by (b) the Statutory Reserve Rate.

          “Administrative Agent” means JPMCB, in its capacity as administrative agent for the
Lenders hereunder.

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

          “Advance” means any Loan or any Letter of Credit.

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

          “Agreement” means this Credit Agreement, as amended, restated, modified or
supplemented from time to time.

          “Agreement Currency” shall have the meaning assigned to such term in Section 9.15(b).

          “Alternate Base Rate” means, for any day, a rate per annum equal to the greatest of
(a) the Prime Rate in effect on such day, (b) the Federal Funds Effective Rate in effect on such
day plus 1/2 of 1% and (c) the Adjusted Eurocurrency Rate for a one month Interest Period on such day
(or if such day is not a Business Day, the immediately preceding Business Day) plus 1%,
provided that, for the avoidance of doubt, the Adjusted Eurocurrency Rate for any day shall
be based on the rate appearing on the Reuters Screen LIBOR01 (or on any successor or substitute
page of such page) at approximately 11:00 a.m. London time on such day. Any change in the

 

 

Alternate Base Rate due to a change in the Prime Rate, the Federal Funds Effective Rate or the
Adjusted Eurocurrency Rate shall be effective from and including the effective date of such change
in the Prime Rate, the Federal Funds Effective Rate or the Adjusted Eurocurrency Rate,
respectively.

          “Applicable Borrower” means, with respect to any Loan or other amount owing hereunder
or any matter pertaining to such Loan or other amount, whichever of the Borrowers is the primary
obligor on such Loan or other amount and, with respect to any Letter of Credit, whichever of the
Borrowers is the account party with respect thereto.

          “Applicable Creditor” shall have the meaning assigned to such term in Section 9.15(b).

          “Applicable Lending Installation” is defined in Section 2.02(e).

          “Applicable Percentage” means, with respect to any Lender, the percentage of the total
Commitments represented by such Lender’s Commitment; provided that in the case of Section
2.22 when a Defaulting Lender shall exist, “Applicable Percentage” shall mean the percentage of the
total Commitments (disregarding any Defaulting Lender’s Commitment) represented by such Lender’s
Commitment. If the Commitments have terminated or expired, the Applicable Percentages shall be
determined based upon the Commitments most recently in effect, giving effect to any assignments and
to any Lender’s status as a Defaulting Lender at the time of determination.

          “Applicable Rate” means, for any day, with respect to any Eurocurrency Loan or ABR
Loan or with respect to the commitment fees payable hereunder, the applicable rate per annum set
forth on Schedule 1.01 under the caption “Eurocurrency Rate”, “ABR Rate” or “Commitment Fee
Rate”, as the case may be, based upon the Leverage Ratio.

          “Approved Fund” has the meaning assigned to such term in Section 9.04.

          “Asset Disposition” means any sale, transfer or other disposition of any asset of the
Borrower or any Subsidiary in a single transaction or in a series of related transactions (other
than (a) the sale or lease of inventory or products in the ordinary course or the sale of obsolete
or worn out property in the ordinary course and (b) the sale of Permitted Investments in the
ordinary course of business).

          “Assignment and Assumption” means an assignment and assumption entered into by a
Lender and an assignee (with the consent of any party whose consent is required by Section 9.04),
and accepted by the Administrative Agent, in the form of Exhibit A or any other form
approved by the Administrative Agent.

          “Australian Dollars” means the lawful currency of the Commonwealth of Australia.

          “Availability Period” means the period from and including the Effective Date to but
excluding the earlier of the Maturity Date and the date of termination of the Commitments.

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          “Bank Guarantee” shall mean a Guarantee of any financial institution with respect to
Indebtedness issued by the Borrower or any of its Subsidiaries; provided, that nothing in
this definition shall be construed as a commitment or agreement of any Lender to issue any such
Bank Guarantee.

          “Bankruptcy Event” means, with respect to any Person, such Person becomes the subject
of a bankruptcy or insolvency proceeding, or has had a receiver, conservator, trustee,
administrator, custodian, assignee for the benefit of creditors or similar Person charged with the
reorganization or liquidation of its business appointed for it, or, in the good faith determination
of the Administrative Agent, has taken any action in furtherance of, or indicating its consent to,
approval of, or acquiescence in, any such proceeding or appointment, provided that a
Bankruptcy Event shall not result solely by virtue of any ownership interest, or the acquisition of
any ownership interest, in such Person by a Governmental Authority or instrumentality thereof,
provided, further, that such ownership interest does not result in or provide such
Person with immunity from the jurisdiction of courts within the United States or from the
enforcement of judgments or writs of attachment on its assets or permit such Person (or such
Governmental Authority or instrumentality) to reject, repudiate, disavow or disaffirm any contracts
or agreements made by such Person.

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

          “Borrower” means Robbins & Myers, Inc., an Ohio corporation.

          “Borrowers” means the Borrower and each Subsidiary Borrower collectively.

          “Borrowing” means (a) Revolving Loans of the same Type, made, converted or continued
on the same date to the same Applicable Borrower and, in the case of Eurocurrency Loans, as to
which a single Interest Period is in effect or (b) a Swingline Loan.

          “Borrowing Request” means a request by the Borrower for a Revolving Borrowing in
accordance with Section 2.03.

          “Business Day” means any day that is not a Saturday, Sunday or other day on which
commercial banks in New York City are authorized or required by law to remain closed;
provided that, (a) when used in connection with a Eurocurrency Loan denominated in a
Foreign Currency, the term “Business Day” shall mean any such day on which banks are generally open
in London for the conduct of substantially all of their commercial lending activities or for the
sale and purchase of Euros which is also a day on which the TARGET (Trans-European Automated
Real-Time Gross Settlement Express Transfer) payment system is open for settlement of payment in
Euros and (b) when used in relation to any funding, disbursement, settlement or payment in a
currency other than Dollars or Euros, the term “Business Day” shall mean any such day on which
banks are also open for foreign exchange business in the principal financial center of the country
of such currency.

          “Canadian Dollars” and “Cdn$” mean the lawful currency of Canada.

3

 

          “Capital Lease Obligations” of any Person means the obligations of such Person to pay
rent or other amounts under any lease of (or other arrangement conveying the right to use) real or
personal property, or a combination thereof, which obligations are required to be classified and
accounted for as capital leases on a balance sheet of such Person under GAAP, and the amount of
such obligations shall be the capitalized amount thereof determined in accordance with GAAP.

          “Change of Control” means and shall be deemed to have occurred on the earliest of (a)
the date upon which a transaction or event or any series of transactions or events occurs that is
required to be reported on Schedule 13D pursuant to Section 13(d) of the Exchange Act and the
regulations promulgated thereunder, whereby a person or group, as used for purposes of Section
13(d) of the Exchange Act (other than M.H.M. & Co., Ltd., an Ohio limited partnership (“M.H.M.”),
so long as the members of the Murch family, individually or collectively, remain the Beneficial
Owners of a majority of the Voting Stock of M.H.M.), has or will become the Beneficial Owner of 30%
or more of the outstanding Voting Shares or the date upon which the Borrower first learns that a
person or group (other than M.H.M.) has or will become the Beneficial Owner of 30% or more of the
outstanding Voting Shares; (b) the date of a change in the composition of the Board of Directors of
the Borrower (the “Board of Directors”) such that individuals who were members of the Board
of Directors on the date two years prior to such change (or who were subsequently elected to fill a
vacancy in the Board of Directors by the affirmative vote of at least two-thirds of the directors
then still in office who were directors at the beginning of such two year period) no longer
constitute a majority of the Board of Directors; (c) the date either the Board of Directors or
shareholders approve a merger or consolidation of the Borrower with any other person, other than a
merger or consolidation which would result in the Voting Shares outstanding immediately prior
thereto continuing to represent (either by remaining outstanding or by being converted into Voting
Shares of the surviving entity) at least 80% of the total voting power represented by the Voting
Shares of such surviving entity outstanding immediately after such merger or consolidation; or (d)
the date either the Board of Directors or shareholders of the Borrower approve a plan of
liquidation of the Borrower or an agreement for the sale, lease, transfer or other disposition by
the Borrower of all or substantially all the Borrower’s assets. For purposes of this definition,
“Beneficial Owner” means the person or group has the power, directly or indirectly, to vote or
direct the vote of, and the power to dispose, or direct the disposition of, Voting Shares or Voting
Stock, as the case may be; “Voting Shares” means the Equity Interests of the Borrower entitled to
vote generally in the election of directors of the Borrower; and “Voting Stock” means the Equity
Interests of M.H.M. entitled to vote generally on the management and affairs of M.H.M.

          “Change in Law” means the occurrence, after the date of this Agreement (or with
respect to any Lender, if later, the date on which such Lender becomes a Lender), of any of the
following (a) the adoption of any law, rule, regulation or treaty, (b) any change in any law, rule,
regulation or treaty or in the interpretation or application thereof by any Governmental Authority
or (c) compliance by any Lender or any Issuing Bank (or, for purposes of Section 2.15(b), by any
lending office of such Lender or by such Lender’s or Issuing Bank’s holding company, if any) with
any request, guideline or directive (whether or not having the force of law) of any Governmental
Authority made or issued after the date of this Agreement, provided that notwithstanding
anything herein to the contrary, the Dodd-Frank Wall Street Reform and Consumer Protection Act and
all requests, rules, guidelines or directives thereunder or issued in

4

 

connection therewith shall in each case be deemed to be a “Change in Law”, regardless of the
date enacted, adopted or issued.

          “Charges” has the meaning set forth in Section 9.13.

          “Class”, when used in reference to any Loan or Borrowing, refers to whether such Loan,
or the Loans comprising such Borrowing, are Revolving Loans or Swingline Loans.

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

          “Commitment” means, with respect to each Lender, the commitment of such Lender to make
Revolving Loans and to acquire participations in Letters of Credit and Swingline Loans hereunder,
expressed as an amount representing the maximum aggregate amount of such Lender’s Revolving Credit
Exposure hereunder, as such commitment may be (a) reduced or increased from time to time pursuant
to Section 2.09 and (b) reduced or increased from time to time pursuant to assignments by or to
such Lender pursuant to Section 9.04. The initial amount of each Lender’s Commitment is set forth
on Schedule 2.01, or in the Assignment and Assumption pursuant to which such Lender shall
have assumed its Commitment, as applicable. The initial aggregate amount of the Lenders’
Commitments is $150,000,000.

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

          “Consolidated Assets” means, as of the date of determination, the total of all assets
which would in accordance with GAAP be included on a consolidated balance sheet of the Borrower and
its Consolidated Subsidiaries as of such date, less the sum of: (a) any surplus resulting from any
write-up of assets subsequent to the Effective Date, (b) goodwill, (c) patents, trademarks, trade
names and copyrights, and (d) any other amount in respect of an intangible which should be
classified as an asset on such balance sheet in accordance with GAAP.

          “Consolidated EBITDA” shall mean, for any period for any person, Consolidated Net
Income of such person for such period, plus, to the extent deducted in computing such
Consolidated Net Income for such period, the sum of (i) Consolidated Interest Expense for such
period, (ii) Tax Expense for such period, (iii) depreciation, depletion, amortization of
intangibles and other non-cash charges or non-cash losses, (iv) the amount, not to exceed
$5,500,000 in the aggregate, of cash restructuring charges for severance and other costs after May
31, 2010, (v) the amount of all non-cash restructuring and impairment charges, (vi) the amount, not
to exceed $10,000,000 in the aggregate, of cash acquisition and integration expenses associated
with the T-3 Acquisition and (vii) the amount, not to exceed $5,000,000 in any such period, of cash
acquisition and integration expenses associated with any Permitted Acquisitions during such period,
minus, to the extent added in computing such Consolidated Net Income for such period, the
sum of (i) any interest income, and (ii) any non-cash income or non-cash gains during such period
that requires footnote disclosure on financial statements, reports or other filings pursuant to or
in accordance with GAAP or applicable SEC regulations, all as determined on a

5

 

consolidated basis with respect to such person and its Consolidated Subsidiaries in accordance
with GAAP.

          “Consolidated Interest Coverage Ratio” shall mean, for the Borrower as of any date,
the ratio of (a) Consolidated EBITDA for the Reference Period with respect to such date, to (b)
Consolidated Interest Expense for such Reference Period.

          “Consolidated Interest Expense” shall mean, for any period for any person, the sum
(without duplication) of (a) the gross amount of interest expense, both expensed and capitalized,
of such person and its Consolidated Subsidiaries, determined on a consolidated basis in accordance
with GAAP, for such period, exclusive of any non-cash interest expense related to original issue
discount notes and pay-in-kind notes, and (b) all amounts paid (net of any amounts received) by
such person and its Consolidated Subsidiaries pursuant to Swap Agreements for such period.

          “Consolidated Leverage Ratio” shall mean, for the Borrower as of any date, the ratio
of (a) Total Debt on such date to (b) Consolidated EBITDA for the Reference Period applicable to
such date; provided, that, if, since the beginning of the applicable Reference Period, (A)
the Borrower or any Consolidated Subsidiary has issued or incurred any Indebtedness that remains
outstanding as of the end of such Reference Period in connection with any Permitted Acquisition or
pursuant to Sections 6.01(d), 6.01(h) or 6.01(j), Consolidated Interest Expense for such Reference
Period shall be calculated after giving effect on a pro forma basis to (I) such Indebtedness as if
such Indebtedness had been issued or incurred on the first day of such Reference Period and (II)
the discharge of any other Indebtedness repaid, repurchased or otherwise discharged with the
proceeds of such new Indebtedness as if such discharge had occurred on the first day of such
Reference Period, (B) the Borrower or any Consolidated Subsidiary shall have made any Asset
Disposition with a net book value in excess of $2,500,000, the Consolidated EBITDA for such
Reference Period shall be reduced by the amount equal to Consolidated EBITDA (if positive) directly
attributable to the assets which are the subject of such Asset Disposition for such Reference
Period, or increased by an amount equal to the Consolidated EBITDA (if negative), directly
attributable thereto for such Reference Period, and Consolidated Interest Expense for such
Reference Period shall be reduced by an amount equal to the Consolidated Interest Expense directly
attributable to any Indebtedness of the Borrower or any Consolidated Subsidiary repaid or otherwise
discharged with respect to the Borrower and its continuing Consolidated Subsidiaries in connection
with such Asset Disposition for such Reference Period (or, if the Equity Interests of any
Consolidated Subsidiary are sold, the Consolidated Interest Expense for such Reference Period
directly attributable to the Indebtedness of such Consolidated Subsidiary to the extent the
Borrower and its continuing Consolidated Subsidiaries are no longer liable for such Indebtedness
after such sale), and (C) the Borrower or any Consolidated Subsidiary shall have made a Permitted
Acquisition (and for purposes of this definition, the T-3 Acquisition shall be deemed to be a
Permitted Acquisition), Consolidated EBITDA for such Reference Period shall be calculated after
giving pro forma effect thereto as if such Permitted Acquisition occurred on the first day of such
Reference Period. For purposes of this definition, whenever pro forma effect is to be given to an
acquisition of assets, the amount of income or earnings relating thereto and the amount of
Consolidated Interest Expense associated with any Indebtedness issued or incurred in connection
therewith, the pro forma calculations shall be determined in good faith by a responsible Financial
Officer of the Borrower. Whenever

6

 

pro forma effect is to be given to any event or for any Reference Period, the pro forma
calculations made shall be cumulative of all events for which pro forma effect is to be given that
have occurred within or that relate to the applicable Reference Period.

          “Consolidated Net Income” shall mean, for any period for any person, net income or
loss of such person and its Consolidated Subsidiaries for such period determined on a consolidated
basis in accordance with GAAP; provided, that there shall be excluded from such calculation
of net income or loss (a) the income of any person in which any other person (other than such
person or any of its subsidiaries or any director holding qualifying shares in accordance with
applicable law) has a joint interest, except to the extent of the amount of dividends or other
distributions actually paid to such person or any of its Wholly Owned Subsidiaries by such other
person during such periods, (b) the income (or loss) of any other person accrued prior to the date
it becomes a subsidiary of such person or is merged into or consolidated with such person or any of
its subsidiaries or the date that such other person’s assets are acquired by such person or any of
its subsidiaries, (c) the income of any subsidiary of such person to the extent that the
declaration or payment of dividends or similar distributions by such subsidiary of that income is
not at the time permitted by operation of the terms of its charter or any agreement, instrument,
judgment, decree, order, statute, rule or governmental regulation applicable to that subsidiary,
(d) any after-tax gains attributable to sales of assets out of the ordinary course of business, and
(e) (to the extent not included in clauses (a) through (d) above) any non-cash extraordinary gains
(or losses).

          “Consolidated Subsidiaries” shall mean, for any Person, all subsidiaries of such
Person that should be consolidated with such Person for financial reporting purposes in accordance
with GAAP.

          “Credit Documents” means this Agreement, after the execution and delivery thereof
pursuant to the terms of this Agreement, each promissory note, if any, delivered pursuant to
Section 2.10(e), each amendment hereof, the Parent Guaranty and the Subsidiary Guaranty.

          “Credit Party” means the Borrowers and each Subsidiary Guarantor.

          “Default” means any event or condition which constitutes an Event of Default or which
upon notice, lapse of time or both would, unless cured or waived, become an Event of Default.

          “Defaulting Lender” means any Lender that (a) has failed, within two Business Days of
the date required to be funded or paid, to (i) fund any portion of its Loans, (ii) fund any portion
of its participations in Letters of Credit or Swingline Loans or (iii) pay over to any Specified
Party any other amount required to be paid by it hereunder, unless, in the case of clause (i)
above, such Lender notifies the Administrative Agent in writing that such failure is the result of
such Lender’s good faith determination that a condition precedent to funding (specifically
identified and including the particular default, if any) has not been satisfied, (b) has notified
the Borrower or any Specified Party in writing, or has made a public statement to the effect, that
it does not intend or expect to comply with any of its funding obligations under this Agreement
(unless such writing or public statement indicates that such position is based on such Lender’s
good faith determination that a condition precedent (specifically identified and

7

 

including the particular default, if any) to funding a loan under this Agreement cannot be
satisfied) or generally under other agreements in which it commits to extend credit, (c) has
failed, within three Business Days after request by a Specified Party, acting in good faith, to
provide a certification in writing from an authorized officer of such Lender that it will comply
with its obligations (and is financially able to meet such obligations) to fund prospective Loans
and participations in then outstanding Letters of Credit and Swingline Loans under this Agreement,
provided that such Lender shall cease to be a Defaulting Lender pursuant to this clause (c)
upon such Specified Party’s receipt of such certification in form and substance satisfactory to it
and the Administrative Agent, or (d) has become the subject of a Bankruptcy Event.

          “Designation Letter” means a letter in substantially the form of Exhibit B
hereto.

          “Dollars” or “$” refers to lawful money of the United States of America.

          “Dollar Equivalent” means, on any date of determination (a) with respect to any amount
in Dollars, such amount, and (b) with respect to any amount in any Foreign Currency, the equivalent
in Dollars of such amount, determined by the Administrative Agent pursuant to Section 1.05 using
the Exchange Rate with respect to such Foreign Currency at the time in effect under the provisions
of such Section.

          “Domestic Subsidiary” shall mean any Subsidiary incorporated or organized under the
laws of the United States of America, any state thereof or the District of Columbia;
provided, that for purposes of this Agreement, Robbins & Myers International Sales Company,
Inc., a U.S. Virgin Islands corporation, shall not be considered a Domestic Subsidiary.

     “Effective Date” means the date on which the conditions specified in Section 4.01 are
satisfied (or waived in accordance with Section 9.02).

          “Environmental Laws” means all laws, rules, regulations, codes, ordinances, orders,
decrees, judgments, injunctions, notices or binding agreements issued, promulgated or entered into
by any Governmental Authority, relating in any way to the environment, preservation or reclamation
of natural resources, the management, release or threatened release of any Hazardous Material or to
health and safety matters.

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

          “Equity Interests” means shares of capital stock, partnership interests, membership
interests in a limited liability company, beneficial interests in a trust or other equity ownership
interests in a Person, and any warrants, options or other rights entitling the holder thereof to
purchase or acquire any such equity interest.

8

 

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

          “ERISA Affiliate” means any trade or business (whether or not incorporated) that,
together with the Borrower, is treated as a single employer under Section 414(b) or (c) of the Code
or, solely for purposes of Section 302 of ERISA and Section 412 of the Code, is treated as a single
employer under Section 414 of the Code.

          “ERISA Event” means (a) any “reportable event”, as defined in Section 4043 of ERISA or
the regulations issued thereunder with respect to a Plan (other than an event for which the 30 day
notice period is waived); (b) the existence with respect to any Plan of an “accumulated funding
deficiency” (as defined in Section 412 of the Code or Section 302 of ERISA), whether or not waived;
(c) the filing pursuant to Section 412(d) of the Code or Section 303(d) of ERISA of an application
for a waiver of the minimum funding standard with respect to any Plan; (d) the incurrence by the
Borrower or any of its ERISA Affiliates of any liability under Title IV of ERISA with respect to
the termination of any Plan; (e) the receipt by the Borrower or any ERISA Affiliate from the PBGC
or a plan administrator of any notice relating to an intention to terminate any Plan or Plans or to
appoint a trustee to administer any Plan; (f) the incurrence by the Borrower or any of its ERISA
Affiliates of any liability with respect to the withdrawal or partial withdrawal from any Plan or
Multiemployer Plan; or (g) the receipt by the Borrower or any ERISA Affiliate of any notice, or the
receipt by any Multiemployer Plan from the Borrower or any ERISA Affiliate of any notice,
concerning the imposition of Withdrawal Liability or a determination that a Multiemployer Plan is,
or is expected to be, insolvent or in reorganization, within the meaning of Title IV of ERISA.

          “Euro” or “€” means the single currency unit of the Participating Member
States.

          “Eurocurrency”, when used in reference to any Loan or Borrowing, refers to whether
such Loan, or the Loans comprising such Borrowing, are bearing interest at a rate determined by
reference to the Adjusted Eurocurrency Rate.

          “Eurocurrency Rate” means, (a) with respect to any Eurocurrency Borrowing denominated
in Dollars or any Foreign Currency other than Euro for any Interest Period, the rate per annum
determined by the Administrative Agent at approximately 11:00 a.m., London time, on the Quotation
Day for such Interest Period by reference to the British Bankers’ Association Interest Settlement
Rates for deposits in the currency of such Borrowing (as reflected on the Reuters Screen LIBOR01
Page 1 (or on any successor or substitute page of such page)), for a period equal to such Interest
Period and (b) with respect to any Eurocurrency Borrowing denominated in Euros for any Interest
Period, the rate appearing on the Reuters Screen EURIBOR01 Page (it being understood that this rate
is the Euro interbank offered rate (known as the “EURIBOR Rate”) sponsored by the Banking
Federation of the European Union and the Financial Markets Association) at approximately 11:00
a.m., London time, on the Quotation Day prior to the commencement of such Interest Period, as the
rate for deposits in Euros with a maturity comparable to such Interest Period. To the extent that
an interest rate is not ascertainable pursuant to the foregoing provisions of this definition, the
“Eurocurrency Rate” shall be the average (rounded upward, if necessary, to the next 1/100 of 1%)
determined by the Administrative Agent of the respective interest rates per annum reported to the
Administrative

9

 

Agent by JPMCB and each other Lender selected by the Administrative Agent (JPMCB and each such
other Lender, the “Reference Lenders”) as the rate at which each Reference Lender offers to
place deposits in the currency of such Borrowing for such Interest Period to first-class banks in
the London interbank market at approximately 11:00 a.m., London time, on the Quotation Day for such
Interest Period.

          “Event of Default” has the meaning assigned to such term in Article VII.

          “Exchange Rate” means on any day, for purposes of determining the Dollar Equivalent of
any currency other than Dollars, the rate at which such currency may be exchanged into Dollars at
11:00 a.m. Local Time on such day on the Reuters Currency pages, if available, for such currency.
In the event that such rate does not appear on any Reuters Currency pages, the Exchange Rate shall
be determined by reference to such other publicly available service for displaying exchange rates
as may be agreed upon by the Administrative Agent and the Borrower, or, in the absence of such an
agreement, such Exchange Rate shall instead be the arithmetic average of the spot rates of exchange
of the Administrative Agent in the market where its foreign currency exchange operations in respect
of such currency are then being conducted, at or about such time as the Administrative Agent shall
elect after determining that such rates shall be the basis for determining the Exchange Rate, on
such date for the purchase of Dollars for delivery two Business Days later; provided that
if at the time of any such determination, for any reason, no such spot rate is being quoted, the
Administrative Agent may use any reasonable method it deems appropriate to determine such rate, and
such determination shall be conclusive absent manifest error.

          “Exchange Rate Date” means, if on such date any outstanding Loan or Letter of Credit
is (or any Loan or Letter of Credit that has been requested at such time would be) denominated in a
currency other than Dollars, each of:

          (a) the last Business Day of each calendar month,

          (b) if an Event of Default has occurred and is continuing, any Business Day designated as an
Exchange Rate Date by the Administrative Agent in its sole discretion, and

          (c) each date (with such date to be reasonably determined by the Administrative Agent) that is
on or about the date of (i) a Borrowing Request or an Interest Election Request with respect to any
Revolving Borrowing or (ii) each request for the issuance, amendment, renewal or extension of any
Letter of Credit.

          “Excluded Taxes” means, with respect to any payment made by any Credit Party under any
Credit Document, any of the following Taxes imposed on or with respect to a Recipient: (a) income
or franchise Taxes imposed on (or measured by) net income by the United States of America, or by
the jurisdiction under the laws of which such Recipient is organized or in which its principal
office is located or, in the case of any Lender, in which its applicable lending office is located,
(b) any branch profits Taxes imposed by the United States of America or any similar Taxes imposed
by any other jurisdiction in which the Applicable Borrower is located and (c) in the case of a Non
U.S. Lender (other than an assignee pursuant to a request by the Borrower under Section 2.19(b)),
(i) any U.S. Federal withholding Taxes resulting from any

10

 

law in effect on the date such Non U.S. Lender becomes a party to this Agreement (or
designates a new lending office), (ii) any withholding Taxes imposed under FATCA or (iii) any U.S.
Federal withholding Taxes that are attributable to such Non U.S. Lender’s failure (except where
such failure is as a result of a Change in Law) to comply with Section 2.17(f), in each case,
except to the extent that such Non U.S. Lender (or its assignor, if any) was entitled, at the time
of designation of a new lending office (or assignment), to receive additional amounts from the
Borrower with respect to such withholding Taxes pursuant to Section 2.17(a).

          “Existing Credit Agreement” means that certain Fifth Amended and Restated Credit
Agreement dated as of December 19, 2006 among the Borrowers, JPMCB, as administrative agent, and
the lenders party thereto, as amended or otherwise modified from time to time.

          “Existing Letters of Credit” means the letters of credit issued and outstanding under
the Existing Credit Agreement and any other issued and outstanding letters of credit, all as
listed on Schedule 2.06 hereto.

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

          “Federal Funds Effective Rate” means, for any day, the weighted average (rounded
upwards, if necessary, to the next 1/100 of 1%) of the rates on overnight Federal funds
transactions with members of the Federal Reserve System arranged by Federal funds brokers, as
published on the next succeeding Business Day by the Federal Reserve Bank of New York, or, if such
rate is not so published for any day that is a Business Day, the average (rounded upwards, if
necessary, to the next 1/100 of 1%) of the quotations for such day for such transactions received
by the Administrative Agent from three Federal funds brokers of recognized standing selected by it.

          “Financial Officer” means the chief financial officer, principal accounting officer,
treasurer or controller of the Borrower.

          “Foreign Currency” means (a) with respect to any Revolving Loan, Euros, Sterling,
Swiss Francs, Canadian Dollars, Australian Dollars and any other currency other than Dollars
acceptable to the Administrative Agent and each of the Lenders that is freely available, freely
transferable and freely convertible into Dollars and in which dealings in deposits are carried on
in the London interbank market and (b) with respect to any Letter of Credit, any currency other
than Dollars acceptable to the Administrative Agent that is freely available, freely transferable
and freely convertible into Dollars, and agreed to by the Issuing Bank issuing such Letter of
Credit.

          “Foreign Pension Plan” means any plan, fund (including, without limitation, any
superannuation fund) or other similar program established or maintained outside the United States
by a Borrower or any one or more of the Subsidiaries primarily for the benefit of employees of such
Borrower or any Subsidiary residing outside the United States, which plan, fund or other similar
program provides, or results in, retirement income, a deferral of income in

11

 

contemplation of retirement or payments to be made upon termination or severance of
employment, and which plan is not subject to ERISA or the Code.

          “Foreign Subsidiary” means any Subsidiary that is incorporated or organized under the
laws of any jurisdiction other than the United States of America, any State thereof or the District
of Columbia.

          “GAAP” means generally accepted accounting principles in the United States of America.

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

          “Guarantee” of or by any Person (the “guarantor”) means any obligation,
contingent or otherwise, of the guarantor guaranteeing or having the economic effect of
guaranteeing any Indebtedness or other obligation of any other Person (the “primary
obligor”) in any manner, whether directly or indirectly, and including any obligation of the
guarantor, direct or indirect, (a) to purchase or pay (or advance or supply funds for the purchase
or payment of) such Indebtedness or other obligation or to purchase (or to advance or supply funds
for the purchase of) any security for the payment thereof, (b) to purchase or lease property,
securities or services for the purpose of assuring the owner of such Indebtedness or other
obligation of the payment thereof, (c) to maintain working capital, equity capital or any other
financial statement condition or liquidity of the primary obligor so as to enable the primary
obligor to pay such Indebtedness or other obligation or (d) as an account party in respect of any
letter of credit or letter of guaranty issued to support such Indebtedness or obligation;
provided, that the term Guarantee shall not include endorsements for collection or deposit
in the ordinary course of business. The amount of any Guarantee made by any guarantor shall be
deemed to be the lower of (a) an amount equal to the stated or determinable amount of the primary
obligation in respect of which such Guarantee is made and (b) the maximum amount for which such
guarantor may be liable pursuant to the terms of the instrument embodying such Guarantee, unless
(in the case of a primary obligation that is not Indebtedness) such primary obligation and the
maximum amount for which such guarantor may be liable are not stated or determinable, in which case
the amount of such Guarantee shall be such guarantor’s maximum reasonably anticipated liability in
respect thereof as determined by the Borrower in good faith.

          “Guaranteed Parties” shall have the meaning assigned that term in the Subsidiary
Guaranty.

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

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          “Indebtedness” of any Person means, without duplication, (a) all obligations of such
Person for borrowed money or with respect to deposits or advances of any kind, (b) all obligations
of such Person evidenced by bonds, debentures, notes or similar instruments, (c) all obligations of
such Person upon which interest charges are customarily paid, (d) all obligations of such Person
under conditional sale or other title retention agreements relating to property acquired by such
Person, (e) all obligations of such Person in respect of the deferred purchase price of property or
services (excluding current accounts payable incurred in the ordinary course of business), (f) all
Indebtedness of others secured by (or for which the holder of such Indebtedness has an existing
right, contingent or otherwise, to be secured by) any Lien on property owned or acquired by such
Person, whether or not the Indebtedness secured thereby has been assumed, (g) all Guarantees by
such Person of Indebtedness of others, (h) all Capital Lease Obligations of such Person, (i) all
obligations, contingent or otherwise, of such Person as an account party in respect of letters of
credit and letters of guaranty, (j) all obligations of such Person in respect of Swap Agreements,
(k) all obligations, contingent or otherwise, of such Person in respect of bankers’ acceptances and
(l) all Off-Balance Sheet Liabilities. The Indebtedness of any Person shall include the
Indebtedness of any other entity (including any partnership in which such Person is a general
partner) to the extent such Person is liable therefor as a result of such Person’s ownership
interest in or other relationship with such entity, except to the extent the terms of such
Indebtedness provide that such Person is not liable therefor.

          “Indemnified Taxes” means (a) Taxes, other than Excluded Taxes, imposed on or with
respect to any payment made by any Credit Party under any Credit Document and (b) Other Taxes.

          “Information Memorandum” means the Confidential Information Memorandum dated March
2011 relating to the Borrower and the Transactions.

          “Intercompany Indebtedness” shall mean Indebtedness of the Borrower or any of its
Subsidiaries to (a) any Wholly-Owned Subsidiary that is a Domestic Subsidiary or (b) the Borrower.

          “Interest Election Request” means a request by the Borrower to convert or continue a
Revolving Borrowing in accordance with Section 2.08.

          “Interest Payment Date” means (a) with respect to any ABR Loan (other than a Swingline
Loan), the last day of each March, June, September and December, (b) with respect to any
Eurocurrency Loan, the last day of the Interest Period applicable to the Borrowing of which such
Loan is a part and, in the case of a Eurocurrency Borrowing with an Interest Period of more than
three months’ duration, each day prior to the last day of such Interest Period that occurs at
intervals of three months’ duration after the first day of such Interest Period and (c) with
respect to any Swingline Loan, the day that such Loan is required to be repaid.

          “Interest Period” means with respect to any Eurocurrency Borrowing, the period
commencing on the date of such Borrowing and ending on the numerically corresponding day in the
calendar month that is one, two, three or six months thereafter, as the Borrower may elect, or any
other period (to the extent available to all Lenders) as may be agreed upon by the Administrative
Agent and the Borrower; provided, that (i) if any Interest Period would end on a

13

 

day other than a Business Day, such Interest Period shall be extended to the next succeeding
Business Day unless such next succeeding Business Day would fall in the next calendar month, in
which case such Interest Period shall end on the next preceding Business Day and (ii) any Interest
Period pertaining to a Eurocurrency Borrowing that commences on the last Business Day of a calendar
month (or on a day for which there is no numerically corresponding day in the last calendar month
of such Interest Period) shall end on the last Business Day of the last calendar month of such
Interest Period. For purposes hereof, the date of a Borrowing initially shall be the date on which
such Borrowing is made and thereafter shall be the effective date of the most recent conversion or
continuation of such Borrowing.

          “Issuing Bank” means JPMorgan and each other Lender reasonably acceptable to the
Administrative Agent that agrees in writing with the Borrower to issue Letters of Credit, in each
case, in its capacity as the issuer of Letters of Credit hereunder, and its successors in such
capacity as provided in Section 2.06(i). Any Issuing Bank may, in its discretion, arrange for one
or more Letters of Credit to be issued by Affiliates of such Issuing Bank, in which case the term
“Issuing Bank” shall include any such Affiliate with respect to Letters of Credit issued by such
Affiliate. With respect to any Letter of Credit, “Issuing Bank” shall mean the issuer thereof.

          “JPMCB” means JPMorgan Chase Bank, N.A., a national banking association, and its
successors.

          “Judgment Currency” shall have the meaning assigned to such term in Section 9.15(b).

          “LC Disbursement” means a payment made by any Issuing Bank pursuant to a Letter of
Credit.

          “LC Exposure” means, at any time, the sum of (a) the aggregate undrawn amount of all
outstanding Letters of Credit at such time plus (b) the aggregate amount of all LC Disbursements
that have not yet been reimbursed by or on behalf of the Applicable Borrower at such time. The LC
Exposure of any Lender at any time shall be its Applicable Percentage of the total LC Exposure at
such time.

          “Lead Arranger” means J.P. Morgan Securities LLC, as Sole Lead Arranger and Sole Lead
Bookrunner.

          “Lenders” means the Persons listed on Schedule 2.01 and any other Person that
shall have become a party hereto pursuant to an Assignment and Assumption, other than any such
Person that ceases to be a party hereto pursuant to an Assignment and Assumption. Unless the
context otherwise requires, the term “Lenders” includes the Swingline Lender.

          “Letter of Credit” means any letter of credit issued pursuant to this Agreement.

          “Lien” means, with respect to any asset, (a) any mortgage, deed of trust, lien,
pledge, hypothecation, encumbrance, charge or security interest in, on or of such asset, (b) the
interest of a vendor or a lessor under any conditional sale agreement, capital lease or title
retention agreement (or any financing lease having substantially the same economic effect as any

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of the foregoing) relating to such asset and (c) in the case of securities, any purchase
option, call or similar right of a third party with respect to such securities.

          “Loans” means the loans made by the Lenders to the Borrowers pursuant to this
Agreement.

          “Local Time” means (a) with respect to a Loan, Borrowing or Letter of Credit
denominated in Dollars, New York City time and (b) with respect to a Loan, Borrowing or Letter of
Credit denominated in any Foreign Currency, London time.

          “Mandatory Costs Rate” means the rate calculated in accordance with the formula and in
the manner set forth in Exhibit D hereto.

          “Margin Stock” has the meaning assigned to such term under Regulation U of the Board.

          “Material Adverse Effect” means a material adverse effect on (a) the business, assets,
operations or condition, financial or otherwise, of the Borrower and the Subsidiaries taken as a
whole, (b) the ability of the Borrower to perform any of its obligations under this Agreement or
any other Credit Document or (c) the rights of or benefits available to the Administrative Agent or
the Lenders under this Agreement or any other Credit Document.

          “Material Indebtedness” means Indebtedness (other than the Loans and Letters of
Credit), or obligations in respect of one or more Swap Agreements, of any one or more of the
Borrower and its Subsidiaries in an aggregate principal amount exceeding $10,000,000. For purposes
of determining Material Indebtedness, the “principal amount” of the obligations of the Borrower or
any Subsidiary in respect of any Swap Agreement at any time shall be the maximum aggregate amount
(giving effect to any netting agreements) that the Borrower or such Subsidiary would be required to
pay if such Swap Agreement were terminated at such time.

          “Material Subsidiary” means (a) any Domestic Subsidiary owned directly by the Borrower
and/or any Subsidiary Guarantor which (i) as of the date hereof, has assets having a book value in
excess of $10,000,000 or which generated in excess of $10,000,000 of revenue over the four fiscal
quarter period most recently ended prior to the date hereof or (ii) thereafter, has or acquires
assets having a book value in excess of $10,000,000 or which generated in excess of $10,000,000 of
revenue over the four fiscal quarter period most recently ended prior to the time of computation,
(b) any other Domestic Subsidiary designated as a Material Subsidiary by the Borrower pursuant to
Section 5.09(b) and (c) any Subsidiary Borrower which is a Domestic Subsidiary, regardless of
whether such Subsidiary Borrower meets the conditions set forth in clauses (a) and (b) of this
definition.

          “Maturity Date” means March 31, 2016.

          “Maximum Rate” has the meaning set forth in Section 9.13.

          “Moody’s” means Moody’s Investors Service, Inc.

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          “Multiemployer Plan” means a multiemployer plan as defined in Section 4001(a)(3) of
ERISA.

          “Non-U.S. Lender” means a Lender that is not a U.S. Person.

          “Off-Balance Sheet Liability” of a Person means (a) any repurchase obligation or
liability of such Person with respect to accounts or notes receivable sold by such Person, (b) any
liability under any Sale and Leaseback Transaction other than Capital Lease Obligations, (c) any
liability under any so-called “synthetic lease” arrangement or transaction entered into by such
Person, or (d) any obligation arising with respect to any other transaction which is the functional
equivalent of or takes the place of borrowing but which does not constitute a liability on the
balance sheets of such Person.

          “Other Connection Taxes” means, with respect to any Recipient, Taxes imposed as a
result of a present or former connection between such Recipient and the jurisdiction imposing such
Taxes (other than a connection arising from such Recipient having executed, delivered, enforced,
become a party to, performed its obligations under, received payments under, received or perfected
a security interest under, or engaged in any other transaction pursuant to, or enforced, any Credit
Document, or sold or assigned an interest in any Credit Document).

          “Other Taxes” means any present or future stamp, court, documentary, intangible,
recording, filing or similar excise or property Taxes that arise from any payment made under, from
the execution, delivery, performance, enforcement or registration of, or from the registration,
receipt or perfection of a security interest under, or otherwise with respect to, any Credit
Document, except any such Taxes that are Other Connection Taxes imposed with respect to an
assignment (other than an assignment under Section 2.19(b)).

          “Parent” means, with respect to any Lender, any Person as to which such Lender is,
directly or indirectly, a subsidiary.

          “Parent Guaranty” means that certain Parent Guaranty dated as of the date hereof by
the Borrower in favor of the Guaranteed Parties, as from time to time amended, restated or
supplemented.

          “Participant” has the meaning set forth in Section 9.04.

          “Participant Register” has the meaning set forth in Section 9.04(c).

          “Participating Member State” means any member state of the European Communities that
adopts or has adopted the Euro as its lawful currency in accordance with the legislation of the
European Community relating to the Economic and Monetary Union.

          “PBGC” means the Pension Benefit Guaranty Corporation referred to and defined in ERISA
and any successor entity performing similar functions.

          “Permitted Acquisition” has the meaning set forth in Section 6.04(f).

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          “Permitted Encumbrances” means:

          (a) Liens imposed by law for Taxes that are not yet due or are being contested in compliance
with Section 5.04;

          (b) carriers’, warehousemen’s, mechanics’, materialmen’s, repairmen’s and other like Liens
imposed by law, arising in the ordinary course of business and securing obligations that are not
overdue by more than 30 days or are being contested in compliance with Section 5.04;

          (c) pledges and deposits made in the ordinary course of business in compliance with workers’
compensation, unemployment insurance and other social security laws or regulations;

          (d) deposits to secure the performance of bids, trade contracts, leases, statutory
obligations, surety and appeal bonds, performance bonds and other obligations of a like nature, in
each case in the ordinary course of business;

          (e) judgment liens in respect of judgments that do not constitute an Event of Default under
clause (k) of Article VII;

          (f) easements, zoning restrictions, rights-of-way and similar encumbrances on real property
imposed by law or arising in the ordinary course of business that do not secure any monetary
obligations and do not materially detract from the value of the affected property or interfere with
the ordinary conduct of business of the Borrower or any Subsidiary;

          (g) unperfected Liens arising by operation of law under Article 2 of the Uniform Commercial
Code in favor of unpaid sellers or prepaying buyers of goods relating, to amounts that are not past
due in accordance with their respective terms of sale; and

          (h) leases or subleases which are entered into in the ordinary course of the business and
which do not interfere in any material respect with the ordinary conduct of the business of the
Borrower or its Subsidiaries;

provided that the term “Permitted Encumbrances” shall not include any Lien securing
Indebtedness.

          “Permitted Investments” means:

          (a) direct obligations of, or obligations the principal of and interest on which are
unconditionally guaranteed by, the United States of America (or by any agency thereof to the extent
such obligations are backed by the full faith and credit of the United States of America), in each
case maturing within one year from the date of acquisition thereof;

          (b) investments in commercial paper maturing within 270 days from the date of acquisition
thereof and having, at such date of acquisition, the highest credit rating obtainable from S&P or
from Moody’s;

17

 

          (c) investments in certificates of deposit, banker’s acceptances and time deposits maturing
within 180 days from the date of acquisition thereof issued or guaranteed by or placed with, and
money market deposit accounts issued or offered by, any domestic office of any commercial bank
organized under the laws of the United States of America or any State thereof which has a combined
capital and surplus and undivided profits of not less than $500,000,000;

          (d) fully collateralized repurchase agreements with a term of not more than 30 days for
securities described in clause (a) above and entered into with a financial institution satisfying
the criteria described in clause (c) above;

          (e) money market funds that (i) comply with the criteria set forth in Securities and Exchange
Commission Rule 2a-7 under the Investment Company Act of 1940, (ii) are rated AAA by S&P and Aaa by
Moody’s and (iii) have portfolio assets of at least $5,000,000,000; and

          (f) other investment instruments approved in writing by the Administrative Agent and offered
by financial institutions which have a combined capital and surplus and undivided profits of not
less than $300,000,000.

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

          “Pfaudler” shall mean Pfaudler-Werke GMBH, a German limited liability company.

          “Plan” means any employee pension benefit plan (other than a Multiemployer Plan)
subject to the provisions of Title IV of ERISA or Section 412 of the Code or Section 302 of ERISA,
and in respect of which the Borrower or any ERISA Affiliate is (or, if such plan were terminated,
would under Section 4069 of ERISA be deemed to be) an “employer” as defined in Section 3(5) of
ERISA.

          “Prime Rate” means the rate of interest per annum publicly announced from time to time
by JPMCB as its prime rate in effect at its office located at 270 Park Avenue, New York, New York;
each change in the Prime Rate shall be effective from and including the date such change is
publicly announced as being effective.

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

          “Recipient” means, as applicable, (a) the Administrative Agent, (b) any Lender and (c)
any Issuing Bank.

          “Register” has the meaning set forth in Section 9.04.

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          “Reference Period” means, with respect to any date, the period of four consecutive
fiscal quarters of the Borrower immediately preceding such date or, if such date is the last day of
a fiscal quarter, ending on such date.

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

          “Required Lenders” means, at any time, subject to Section 2.22(b), Lenders having
Revolving Credit Exposures and unused Commitments representing more than 50% of the sum of the
total Revolving Credit Exposures and unused Commitments at such time.

          “Restricted Payment” means any dividend or other distribution (whether in cash,
securities or other property) with respect to any Equity Interests in the Borrower or any
Subsidiary, or any payment (whether in cash, securities or other property), including any sinking
fund or similar deposit, on account of the purchase, redemption, retirement, acquisition,
cancellation or termination of any such Equity Interests in the Borrower or any Subsidiary or any
option, warrant or other right to acquire any such Equity Interests in the Borrower or any
Subsidiary.

          “Restricted Subsidiary” means (a) each Domestic Subsidiary of the Borrower, none of
the Equity Interests of which is owned by an Unrestricted Subsidiary, (b) each Foreign Subsidiary
of the Borrower, all of the Equity Interests of which is owned directly by the Borrower or a
Wholly-Owned Domestic Subsidiary, and (c) any subsidiary described in clauses (a) or (b) that is
formed or acquired after the date hereof; provided, that nothing in this definition shall
be deemed to permit any such formation or acquisition of a subsidiary. Each of such Domestic and
Foreign Subsidiaries existing as of the Effective Date are listed on Schedule 3.13.

          “Revolving Credit Exposure” means, with respect to any Lender at any time, the sum of
the outstanding principal amount of such Lender’s Revolving Loans and its LC Exposure and Swingline
Exposure at such time.

          “Revolving Loan” means a Loan made pursuant to Section 2.01.

          “Romaco Sale” shall mean one or more sales, transfers or dispositions (in one
transaction or in a series of transactions) of either (a) 100% of the stock or other equity
interests of any Subsidiary which comprises part of the Borrower’s Romaco business unit or (b) any
business unit or line of business which comprises part of the Borrower’s Romaco business unit. For
purposes of this definition, “Romaco business unit” means Borrower’s business unit engaged in the
design, manufacture and marketing of secondary processing, dosing, filling, printing and security
equipment used by the pharmaceutical, healthcare, neutraceutical and cosmetics industries.

          “S&P” means Standard & Poor’s.

          “Sale and Leaseback Transaction” means any sale or other transfer of property by any
Person with the intent to lease such property as lessee.

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          “Solvent” means, when used with respect to a Person, that (a) the fair saleable value
of the assets of such Person is in excess of the total amount of the present value of its
liabilities (including for purposes of this definition all liabilities (including loss reserves as
determined by such Person), whether or not reflected on a balance sheet prepared in accordance with
GAAP and whether direct or indirect, fixed or contingent, secured or unsecured, disputed or
undisputed), (b) such Person is able to pay its debts or obligations in the ordinary course as they
mature and (c) such Person does not have unreasonably small capital to carry out its business as
conducted and as proposed to be conducted. “Solvency” shall have a correlative meaning.

          “Specified Party” means, individually and collectively, the Administrative Agent, any
Issuing Bank, the Swingline Lender and each other Lender.

          “Statutory Reserve Rate” means a fraction (expressed as a decimal), the numerator of
which is the number one and the denominator of which is the number one minus the aggregate of the
maximum reserve percentage (including any marginal, special, emergency or supplemental reserves)
expressed as a decimal established by the Board to which the Administrative Agent is subject for
eurocurrency funding (currently referred to as “Eurocurrency Liabilities” in Regulation D
of the Board). Such reserve percentages shall include those imposed pursuant to such Regulation D.
Eurocurrency Loans shall be deemed to constitute eurocurrency funding and to be subject to such
reserve requirements without benefit of or credit for proration, exemptions or offsets that may be
available from time to time to any Lender under such Regulation D or any comparable regulation.
The Statutory Reserve Rate shall be adjusted automatically on and as of the effective date of any
change in any reserve percentage.

          “Sterling” or “£” means the lawful currency of the United Kingdom of Great
Britain and Northern Ireland.

          “subsidiary” means, with respect to any Person (the “parent”) at any date, any
corporation, limited liability company, partnership, association or other entity the accounts of
which would be consolidated with those of the parent in the parent’s consolidated financial
statements if such financial statements were prepared in accordance with GAAP as of such date, as
well as any other corporation, limited liability company, partnership, association or other entity
(a) of which securities or other ownership interests representing more than 50% of the equity or
more than 50% of the ordinary voting power or, in the case of a partnership, more than 50% of the
general partnership interests are, as of such date, owned, controlled or held, or (b) that is, as
of such date, otherwise Controlled, by the parent or one or more subsidiaries of the parent or by
the parent and one or more subsidiaries of the parent.

          “Subsidiary” means any subsidiary of the Borrower.

          “Subsidiary Borrower” means (a) Robbins & Myers Finance Europe B.V., a Netherlands
corporation, and (b) any other Wholly-Owned Subsidiary designated as such by the Borrower pursuant
to Section 2.20.

          “Subsidiary Guarantor” means each Material Subsidiary of the Borrower which is a party
to the Subsidiary Guaranty or any other Guarantee provided pursuant hereto.

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          “Subsidiary Guaranty” means the Subsidiary Guaranty dated as of the date hereof made
by the Subsidiaries party thereto in favor of the Guaranteed Parties, as from time to time amended,
restated or supplemented. The Subsidiary Guarantors initially party to the Subsidiary Guaranty are
so designated on Schedule 3.13.

          “Substantial Portion” means, with respect to the property of the Borrower and its
Subsidiaries, property which (a) represents more than 10% of the Consolidated Assets as would be
shown in the consolidated financial statements of the Borrower and its Subsidiaries as at the
beginning of the twelve-month period ending with the last day of the month preceding the month in
which such determination is made, or (b) is responsible for more than 10% of the consolidated net
sales or of the Consolidated Net Income of the Borrower and its Subsidiaries as reflected in the
financial statements referred to in clause (a) above for such twelve-month period.

          “Swap Agreement” means any agreement with respect to any swap, forward, future or
derivative transaction or option or similar agreement involving, or settled by reference to, one or
more rates, currencies, commodities, equity or debt instruments or securities, or economic,
financial or pricing indices or measures of economic, financial or pricing risk or value or any
similar transaction or any combination of these transactions; provided that no phantom
stock or similar plan providing for payments only on account of services provided by current or
former directors, officers, employees or consultants of the Borrower or the Subsidiaries shall be a
Swap Agreement.

          “Swingline Exposure” means, at any time, the aggregate principal amount of all
Swingline Loans outstanding at such time. The Swingline Exposure of any Lender at any time shall
be its Applicable Percentage of the total Swingline Exposure at such time.

          “Swingline Lender” means JPMCB, in its capacity as lender of Swingline Loans
hereunder.

          “Swingline Loan” means a Loan made pursuant to Section 2.05.

          “Swiss Francs” means the lawful currency of Switzerland.

          “Tax Expense” shall mean, for any period for any person, the amount of expense for
Federal, state, local and other income taxes of such person and its Consolidated Subsidiaries,
determined on a consolidated basis in accordance with GAAP.

          “T-3 Acquisition” means the acquisition by the Borrower of 100% of the Equity
Interests of T-3 Energy Services, Inc. pursuant to the terms and conditions set forth in that
certain Agreement and Plan of Merger, dated as of October 6, 2010, among the Borrower, T-3 Energy
Services, Inc., Triple Merger I, Inc. and Triple Merger II, Inc.

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

          “Termination Letter” means a letter in substantially the form of Exhibit C
hereto.

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          “Total Debt” shall mean, without duplication, as of any date, the aggregate amount of
(a) all Revolving Loans, Swingline Loans and LC Exposure outstanding as of such date and (b) all
other Indebtedness (other than (i) the obligations of Pfaudler with respect to its unfunded German
pension plan and (ii) post retirement obligations of the Borrower and the Domestic Subsidiaries) of
the Borrower and its Consolidated Subsidiaries as of such date, determined on a consolidated basis
in accordance with GAAP; provided, that the amount of Total Debt outstanding at any time
shall be deemed reduced by an amount equal to the amount by which the aggregate amount of cash and
Permitted Investments of the Borrower and its Subsidiaries at such time exceeds $10,000,000.

          “Transactions” means the execution, delivery and performance by the Borrowers of this
Agreement and any Designation Letters, the borrowing of Loans, the use of the proceeds thereof and
the issuance of Letters of Credit hereunder.

          “Type”, when used in reference to any Loan or Borrowing, refers to whether the rate of
interest on such Loan, or on the Loans comprising such Borrowing, is determined by reference to the
Adjusted Eurocurrency Rate or the Alternate Base Rate.

          “U.S. Person” means a “United States person” within the meaning of Section 7701(a)(30)
of the Code.

          “U.S. Tax Certificate” has the meaning assigned to such term in Section
2.17(f)(ii)(D)(2).

          “Unrestricted Subsidiary” means any Subsidiary other than a Restricted Subsidiary.

          “Wholly-Owned Subsidiary” of a Person means (a) any subsidiary all of the outstanding
voting securities of which shall at the time be owned or controlled, directly or indirectly, by
such Person or one or more Wholly-Owned Subsidiaries of such Person, or by such Person and one or
more Wholly-Owned Subsidiaries of such Person, or (b) any partnership, limited liability company,
association, joint venture or similar business organization 100% of the ownership interests having
ordinary voting power of which shall at the time be so owned or controlled (other than in the case
of Foreign Subsidiaries, director’s qualifying shares and/or other nominal amounts of shares
required to be held by Persons other than the Borrower and its Subsidiaries under applicable law).

          “Withdrawal Liability” means liability to a Multiemployer Plan as a result of a
complete or partial withdrawal from such Multiemployer Plan, as such terms are defined in Part I of
Subtitle E of Title IV of ERISA.

          “Withholding Agent” means any Credit Party and the Administrative Agent.

          SECTION 1.02. Classification of Loans and Borrowings. For purposes of this Agreement,
Loans may be classified and referred to by Class (e.g., a “Revolving Loan”) or by Type
(e.g., a “Eurocurrency Loan”) or by Class and Type (e.g., a “Eurocurrency Revolving
Loan”). Borrowings also may be classified and referred to by Class (e.g., a “Revolving

22

 

Borrowing”) or by Type (e.g., a “Eurocurrency Borrowing”) or by Class and Type
(e.g., a “Eurocurrency Revolving Borrowing”).

          SECTION 1.03. Terms Generally. The definitions of terms herein shall apply equally to
the singular and plural forms of the terms defined. Whenever the context may require, any pronoun
shall include the corresponding masculine, feminine and neuter forms. The words “include”,
“includes” and “including” shall be deemed to be followed by the phrase “without limitation”. The
word “will” shall be construed to have the same meaning and effect as the word “shall”. Unless the
context requires otherwise (a) any definition of or reference to any agreement, instrument or other
document herein shall be construed as referring to such agreement, instrument or other document as
from time to time amended, supplemented or otherwise modified (subject to any restrictions on such
amendments, supplements or modifications set forth herein), (b) any reference herein to any Person
shall be construed to include such Person’s successors and assigns, (c) the words “herein”,
“hereof” and “hereunder”, and words of similar import, shall be construed to refer to this
Agreement in its entirety and not to any particular provision hereof, (d) all references herein to
Articles, Sections, Exhibits and Schedules shall be construed to refer to Articles and Sections of,
and Exhibits and Schedules to, this Agreement and (e) the words “asset” and “property” shall be
construed to have the same meaning and effect and to refer to any and all tangible and intangible
assets and properties, including cash, securities, accounts and contract rights.

          SECTION 1.04. Accounting Terms; GAAP. Except as otherwise expressly provided herein,
all terms of an accounting or financial nature shall be construed in accordance with GAAP, as in
effect from time to time; provided that, if the Borrower notifies the Administrative Agent
that the Borrower requests an amendment to any provision hereof to eliminate the effect of any
change occurring after the date hereof in GAAP or in the application thereof on the operation of
such provision (or if the Administrative Agent notifies the Borrower that the Required Lenders
request an amendment to any provision hereof for such purpose), regardless of whether any such
notice is given before or after such change in GAAP or in the application thereof, then such
provision shall be interpreted on the basis of GAAP as in effect and applied immediately before
such change shall have become effective until such notice shall have been withdrawn or such
provision amended in accordance herewith.

          SECTION 1.05. Foreign Currency Calculations. (a) For purposes of determining the
Dollar Equivalent of any Advance denominated in a Foreign Currency or any related amount, the
Administrative Agent shall determine the Exchange Rate as of the applicable Exchange Rate Date with
respect to each Foreign Currency in which any requested or outstanding Advance or Letter of Credit
is denominated and shall apply such Exchange Rates to determine such amount (in each case after
giving effect to any Advance to be made or repaid on or prior to the applicable date for such
calculation).

          (b) For purposes of any determination hereunder (including determinations under Section 6.01,
6.02 or 6.04 or under Article VII), all amounts incurred, outstanding or proposed to be incurred
or outstanding in currencies other than Dollars shall be translated into Dollars at the
appropriate currency Exchange Rate; provided that no Default shall arise as a result of
any limitation set forth in Dollars in Section 6.01 or 6.02 being exceeded solely as a result of
changes in Exchange Rates from those rates applicable at the time or times

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Indebtedness or Liens were initially consummated in reliance on the exceptions under such
Sections. For purposes of any determination under Section 6.04, the amount of each investment,
asset disposition or other applicable transaction denominated in a currency other than Dollars
shall be translated into Dollars at the applicable Exchange Rate. Such Exchange Rates shall be
determined in good faith by the Borrower.

ARTICLE II

The Credits

          SECTION 2.01. Commitments. Subject to the terms and conditions set forth herein, each
Lender agrees to make Revolving Loans denominated in Dollars and Foreign Currencies to the
Borrowers from time to time during the Availability Period in an aggregate principal amount that
will not result in (a) such Lender’s Revolving Credit Exposure exceeding such Lender’s Commitment,
(b) the sum of the total Revolving Credit Exposures exceeding the total Commitments, (c) the Dollar
Equivalent of the aggregate outstanding principal amount of all Revolving Credit Exposure of all
Lenders relative to all Subsidiary Borrowers exceeding $75,000,000 or (d) the Dollar Equivalent of
the aggregate amount of all Revolving Loans and Letters of Credit denominated in Foreign Currency
exceeding $50,000,000. Within the foregoing limits and subject to the terms and conditions set
forth herein, the Borrowers may borrow, prepay and reborrow Revolving Loans.

          SECTION 2.02. Loans and Borrowings. (a) Each Revolving Loan shall be made as part of
a Borrowing consisting of Revolving Loans made by the Lenders ratably in accordance with their
respective Commitments. The failure of any Lender to make any Loan required to be made by it shall
not relieve any other Lender of its obligations hereunder; provided that the Commitments of
the Lenders are several and no Lender shall be responsible for any other Lender’s failure to make
Loans as required hereby.

          (b) Subject to Section 2.14, (i) each Revolving Borrowing denominated in Dollars shall be
comprised entirely of ABR Loans or Eurocurrency Loans as the Borrower may request in accordance
herewith and (ii) each Revolving Borrowing denominated in a Foreign Currency shall be comprised
entirely of Eurocurrency Loans. Each Swingline Loan shall be an ABR Loan. Each Lender at its
option may make any Eurocurrency Loan by causing any domestic or foreign branch or Affiliate of
such Lender to make such Loan; provided that any exercise of such option shall not affect
the obligation of the Applicable Borrower to repay such Loan in accordance with the terms of this
Agreement.

          (c) At the commencement of each Interest Period for any Eurocurrency Revolving Borrowing,
such Borrowing shall be in an aggregate amount that is an integral multiple of $500,000 and not
less than $1,000,000. At the time that each ABR Revolving Borrowing is made, such Borrowing shall
be in an aggregate amount that is an integral multiple of $500,000 and not less than $1,000,000;
provided that an ABR Revolving Borrowing may be in an aggregate amount that is equal to
the entire unused balance of the total Commitments or that is required to finance the
reimbursement of an LC Disbursement as contemplated by Section 2.06(e). Each Swingline Loan shall
be in an amount that is an integral multiple of $250,000 and not less than $500,000. Borrowings
of more than one Type

24

 

and Class may be outstanding at the same time; provided that there shall not at any
time be more than a total of ten Eurocurrency Revolving Borrowings outstanding. Notwithstanding
the foregoing, Loans which are not denominated in Dollars may be made in amounts and increments in
the applicable Foreign Currency satisfactory to the Administrative Agent.

          (d) Notwithstanding any other provision of this Agreement, the Borrower shall not be entitled
to request, or to elect to convert or continue, any Borrowing if the Interest Period requested
with respect thereto would end after the Maturity Date.

          (e) Notwithstanding any other provision of this Agreement, each Lender at its option may make
any ABR Loan or Eurocurrency Loan by causing any domestic or foreign office, branch or Affiliate
of such Lender (an “Applicable Lending Installation”) to make such Loan that has been
designated by such Lender to the Administrative Agent. All terms of this Agreement shall apply to
any such Applicable Lending Installation of such Lender and the Loans and any Notes issued
hereunder shall be deemed held by each Lender for the benefit of any such Applicable Lending
Installation. Each Lender may, by written notice to the Administrative Agent and the Borrower,
designate replacement or additional Applicable Lending Installations through which Loans will be
made by it and for whose account Loan payments are to be made.

          SECTION 2.03. Requests for Revolving Borrowings. To request a Revolving Borrowing
(other than a Swingline Loan), the Borrower shall notify the Administrative Agent of such request
by telephone (or, in the case of requests in respect of Eurocurrency Borrowings denominated in
Foreign Currencies, by hand delivery or telecopy to the Administrative Agent of a written Borrowing
Request in a form approved the Administrative Agent and signed by the Borrower) (a) in the case of
a Eurocurrency Borrowing denominated in Dollars, not later than 11:00 a.m., Local Time, three
Business Days before the date of the proposed Borrowing, (b) in the case of a Eurocurrency
Borrowing denominated in Foreign Currencies, not later than 11:00 a.m., Local Time, four Business
Days before the date of the proposed Borrowing or (c) in the case of an ABR Borrowing, not later
than 11:00 a.m., Local Time, one Business Day before the date of the proposed Borrowing;
provided that any such notice of an ABR Revolving Borrowing to finance the reimbursement of
an LC Disbursement as contemplated by Section 2.06(e) may be given not later than 10:00 a.m., Local
Time, on the date of the proposed Borrowing. Each such telephonic Borrowing Request shall be
irrevocable and shall be confirmed promptly by hand delivery or telecopy to the Administrative
Agent of a written Borrowing Request in a form approved by the Administrative Agent and signed by
the Borrower. Each such telephonic and written Borrowing Request shall specify the following
information in compliance with Section 2.02:

     (i) the identity of the Applicable Borrower;

     (ii) the aggregate amount of the requested Borrowing;

     (iii) the currency (which may be Dollars or a Foreign Currency) in which such Borrowing
is to be denominated;

     (iv) the date of such Borrowing, which shall be a Business Day;

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     (v) in the case of a Borrowing denominated in Dollars, whether such Borrowing is to be
an ABR Borrowing or a Eurocurrency Borrowing;

     (vi) in the case of a Eurocurrency Borrowing, the initial Interest Period to be
applicable thereto, which shall be a period contemplated by clause (a) of the definition of
the term “Interest Period”; and

     (vii) the location and number of the Applicable Borrower’s account to which funds are
to be disbursed, which shall comply with the requirements of Section 2.07.

If no election as to the Type of Revolving Borrowing is specified, then the requested Revolving
Borrowing shall be an ABR Borrowing, unless such Revolving Borrowing is denominated in a Foreign
Currency, in which case such Revolving Borrowing shall be a Eurocurrency Borrowing. If no Interest
Period is specified with respect to any requested Eurocurrency Revolving Borrowing, then the
Borrower shall be deemed to have selected an Interest Period of one month’s duration. Promptly
following receipt of a Borrowing Request in accordance with this Section, the Administrative Agent
shall advise each Lender of the details thereof and of the amount of such Lender’s Loan to be made
as part of the requested Borrowing.

          SECTION 2.04. [Intentionally Omitted]

          SECTION 2.05. Swingline Loans. (a) Subject to the terms and conditions set forth
herein, the Swingline Lender agrees to make Dollar-denominated Swingline Loans to the Borrower from
time to time during the Availability Period, in an aggregate principal amount at any time
outstanding that will not result in (i) the aggregate principal amount of outstanding Swingline
Loans exceeding $20,000,000 or (ii) the sum of the total Revolving Credit Exposures exceeding the
total Commitments; provided that the Swingline Lender shall not be required to make a
Swingline Loan to refinance an outstanding Swingline Loan. Within the foregoing limits and subject
to the terms and conditions set forth herein, the Borrower may borrow, prepay and reborrow
Swingline Loans.

          (b) To request a Swingline Loan, the Borrower shall notify the Administrative Agent of such
request by telephone (confirmed by telecopy), not later than 12:00 noon, Local Time, on the day of
a proposed Swingline Loan. Each such notice shall be irrevocable and shall specify (i) the
requested date (which shall be a Business Day) and (ii) the amount of the requested Swingline
Loan. The Administrative Agent will promptly advise the Swingline Lender of any such notice
received from the Borrower. Each Swingline Loan shall be an ABR Loan. The Swingline Lender shall
make each Swingline Loan available to the Borrower by means of a credit to the general deposit
account of the Borrower with the Swingline Lender (or, in the case of a Swingline Loan made to
finance the reimbursement of an LC Disbursement as provided in Section 2.06(e), by remittance to
the applicable Issuing Bank) by 3:00 p.m., Local Time, on the requested date of such Swingline
Loan.

          (c) The Swingline Lender may by written notice given to the Administrative Agent not later
than 10:00 a.m., Local Time, on any Business Day require the Lenders to acquire participations on
such Business Day in all or a portion of the Swingline Loans outstanding. Such notice shall
specify the aggregate amount of Swingline Loans in which

26

 

Lenders will participate, and such amount of Swingline Loans shall bear interest at the
Alternate Base Rate. Promptly upon receipt of such notice, the Administrative Agent will give
notice thereof to each Lender, specifying in such notice such Lender’s Applicable Percentage of
such Swingline Loan or Loans. Each Lender hereby absolutely and unconditionally agrees, upon
receipt of notice as provided above, to pay to the Administrative Agent, for the account of the
Swingline Lender, such Lender’s Applicable Percentage of such Swingline Loan or Loans. Each
Lender acknowledges and agrees that its obligation to acquire participations in Swingline Loans
pursuant to this paragraph is absolute and unconditional and shall not be affected by any
circumstance whatsoever, including the occurrence and continuance of a Default or reduction or
termination of the Commitments, and that each such payment shall be made without any offset,
abatement, withholding or reduction whatsoever. Each Lender shall comply with its obligation
under this paragraph by wire transfer of immediately available funds, in the same manner as
provided in Section 2.07 with respect to Loans made by such Lender (and Section 2.07 shall apply,
mutatis mutandis, to the payment obligations of the Lenders), and the
Administrative Agent shall promptly pay to the Swingline Lender the amounts so received by it from
the Lenders. The Administrative Agent shall notify the Borrower of any participations in any
Swingline Loan acquired pursuant to this paragraph, and thereafter payments in respect of such
Swingline Loan shall be made to the Administrative Agent and not to the Swingline Lender. Any
amounts received by the Swingline Lender from the Borrower (or other party on behalf of the
Borrower) in respect of a Swingline Loan after receipt by the Swingline Lender of the proceeds of
a sale of participations therein shall be promptly remitted to the Administrative Agent; any such
amounts received by the Administrative Agent shall be promptly remitted by the Administrative
Agent to the Lenders that shall have made their payments pursuant to this paragraph and to the
Swingline Lender, as their interests may appear; provided that any such payment so
remitted shall be repaid to the Swingline Lender or to the Administrative Agent, as applicable, if
and to the extent such payment is required to be refunded to the Borrower for any reason. The
purchase of participations in a Swingline Loan pursuant to this paragraph shall not relieve the
Borrower of any default in the payment thereof.

          SECTION 2.06. Letters of Credit. (a) General. Subject to the terms and
conditions set forth herein, the Borrower may request the issuance of Letters of Credit for its own
account or for the account of any Subsidiary Borrower, in a form reasonably acceptable to the
Administrative Agent and the applicable Issuing Bank, at any time and from time to time during the
Availability Period. In the event of any inconsistency between the terms and conditions of this
Agreement and the terms and conditions of any form of letter of credit application or other
agreement submitted by the Borrower to, or entered into by the Borrower with, any Issuing Bank
relating to any Letter of Credit, the terms and conditions of this Agreement shall control. Upon
the effectiveness of this Agreement, each Existing Letter of Credit shall, without any further
action by any party, be deemed to have been re-issued as a Letter of Credit hereunder on the date
of such effectiveness and shall for all purposes hereof be treated as a Letter of Credit under this
Agreement.

          (b) Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To
request the issuance of a Letter of Credit (or the amendment, renewal or extension of an
outstanding Letter of Credit), the Borrower shall hand deliver or telecopy (or transmit by
electronic communication, if arrangements for doing so have been approved by the applicable

27

 

Issuing Bank) to the applicable Issuing Bank and the Administrative Agent (reasonably in
advance of the requested date of issuance, amendment, renewal or extension) a notice requesting
the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed or
extended, and specifying the date of issuance, amendment, renewal or extension (which shall be a
Business Day), the date on which such Letter of Credit is to expire (which shall comply with
paragraph (c) of this Section), the amount of such Letter of Credit, the name and address of the
beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or
extend such Letter of Credit. If requested by the applicable Issuing Bank, the Borrower also
shall submit a letter of credit application on such Issuing Bank’s standard form in connection
with any request for a Letter of Credit. A Letter of Credit shall be issued, amended, renewed or
extended only if (and upon issuance, amendment, renewal or extension of each Letter of Credit the
Borrower shall be deemed to represent and warrant that), after giving effect to such issuance,
amendment, renewal or extension (i) the Dollar Equivalent of the LC Exposure shall not exceed
$50,000,000, (ii) the sum of the total Revolving Credit Exposures shall not exceed the total
Commitments, (iii) the Dollar Equivalent of the aggregate outstanding principal amount of all
Revolving Credit Exposure of all Lenders relative to all Subsidiary Borrowers shall not exceed
$75,000,000 and (iv) the Dollar Equivalent of the aggregate amount of all Revolving Loans and
Letters of Credit denominated in Foreign Currency exceeding $50,000,000.

          (c) Expiration Date. Each Letter of Credit shall expire at or prior to the close of
business on the date that is five Business Days prior to the first anniversary of the Maturity
Date; provided that with respect to any Letter of Credit with an expiration date after the
Maturity Date, the Borrower shall, not later than five Business Days prior to the Maturity Date,
cash collateralize such Letter of Credit in accordance with Section 2.06(j) or provide to the
applicable Issuing Bank a “back to back” letter of credit with respect thereto in form and
substance, and from an issuer, satisfactory to such Issuing Bank in its sole discretion;
provided, further, that subject to satisfaction of conditions applicable to
renewals of Letters of Credit herein, any Letter of Credit with a one-year tenor may provide for
the automatic renewal thereof for additional one-year periods.

          (d) Participations. By the issuance of a Letter of Credit (or an amendment to a
Letter of Credit increasing the amount thereof) and without any further action on the part of the
applicable Issuing Bank or the Lenders, each Issuing Bank hereby grants to each Lender, and each
Lender hereby acquires from each Issuing Bank, a participation in such Letter of Credit equal to
such Lender’s Applicable Percentage of the aggregate amount available to be drawn under such
Letter of Credit. In consideration and in furtherance of the foregoing, each Lender hereby
absolutely and unconditionally agrees to pay to the Administrative Agent, for the account of the
applicable Issuing Bank, such Lender’s Applicable Percentage of each LC Disbursement made by such
Issuing Bank and not reimbursed by the Applicable Borrower on the date due as provided in
paragraph (e) of this Section, or of any reimbursement payment required to be refunded to the
Applicable Borrower for any reason. Each Lender acknowledges and agrees that its obligation to
acquire participations pursuant to this paragraph in respect of Letters of Credit is absolute and
unconditional and shall not be affected by any circumstance whatsoever, including any amendment,
renewal or extension of any Letter of Credit or the occurrence and continuance of a Default or
reduction or termination of the

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Commitments, and that each such payment shall be made without any offset, abatement,
withholding or reduction whatsoever.

          (e) Reimbursement. If any Issuing Bank shall make any LC Disbursement in respect of
a Letter of Credit, the Applicable Borrower shall reimburse such LC Disbursement by paying to the
Administrative Agent an amount equal to such LC Disbursement not later than 12:00 noon, Local
Time, on the date that such LC Disbursement is made, if the Applicable Borrower shall have
received notice of such LC Disbursement prior to 10:00 a.m., Local Time, on such date, or, if such
notice has not been received by the Applicable Borrower prior to such time on such date, then not
later than 12:00 noon, Local Time, on (i) the Business Day that the Applicable Borrower receives
such notice, if such notice is received prior to 10:00 a.m., Local Time, on the day of receipt, or
(ii) the Business Day immediately following the day that the Applicable Borrower receives such
notice, if such notice is not received prior to such time on the day of receipt; provided
that the Borrower may, subject to the conditions to borrowing set forth herein, request in
accordance with Section 2.03 or 2.05 that such payment be financed with an ABR Revolving Borrowing
or Swingline Loan in an equivalent amount and, to the extent so financed, the Applicable
Borrower’s obligation to make such payment shall be discharged and replaced by the resulting ABR
Revolving Borrowing or Swingline Loan. If the Applicable Borrower fails to make such payment when
due, such amount, if denominated in Foreign Currency, shall be converted to Dollars and shall bear
interest at the Alternate Base Rate and the Administrative Agent shall notify each Lender of the
applicable LC Disbursement, the payment then due from the Applicable Borrower in respect thereof
and such Lender’s Applicable Percentage thereof. Promptly following receipt of such notice, each
Lender shall pay to the Administrative Agent its Applicable Percentage of the payment then due
from the Applicable Borrower, in the same manner as provided in Section 2.07 with respect to Loans
made by such Lender (and Section 2.07 shall apply, mutatis mutandis, to the
payment obligations of the Lenders), and the Administrative Agent shall promptly pay to the
applicable Issuing Bank the amounts so received by it from the Lenders. Promptly following
receipt by the Administrative Agent of any payment from the Applicable Borrower pursuant to this
paragraph, the Administrative Agent shall distribute such payment to the applicable Issuing Bank
or, to the extent that Lenders have made payments pursuant to this paragraph to reimburse such
Issuing Bank, then to such Lenders and Applicable Issuing Bank as their interests may appear. Any
payment made by a Lender pursuant to this paragraph to reimburse any Issuing Bank for any LC
Disbursement (other than the funding of ABR Revolving Loans or a Swingline Loan as contemplated
above) shall not constitute a Loan and shall not relieve the Applicable Borrower of its obligation
to reimburse such LC Disbursement.

          (f) Obligations Absolute. The obligation of the Applicable Borrower to reimburse LC
Disbursements as provided in paragraph (e) of this Section shall be absolute, unconditional and
irrevocable, and shall be performed strictly in accordance with the terms of this Agreement under
any and all circumstances whatsoever and irrespective of (i) any lack of validity or
enforceability of any Letter of Credit or this Agreement, or any term or provision therein, (ii)
any draft or other document presented under a Letter of Credit proving to be forged, fraudulent or
invalid in any respect or any statement therein being untrue or inaccurate in any respect, (iii)
payment by any Issuing Bank under a Letter of Credit against presentation of a draft or other
document that does not comply with the terms of such Letter of Credit, or (iv) any other event or
circumstance whatsoever, whether or not similar to any of the

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foregoing, that might, but for the provisions of this Section, constitute a legal or
equitable discharge of, or provide a right of setoff against, the Applicable Borrower’s
obligations hereunder. Neither the Administrative Agent, the Lenders nor any Issuing Bank, nor
any of their Related Parties, shall have any liability or responsibility by reason of or in
connection with the issuance or transfer of any Letter of Credit or any payment or failure to make
any payment thereunder (irrespective of any of the circumstances referred to in the preceding
sentence), or any error, omission, interruption, loss or delay in transmission or delivery of any
draft, notice or other communication under or relating to any Letter of Credit (including any
document required to make a drawing thereunder), any error in interpretation of technical terms or
any consequence arising from causes beyond the control of any Issuing Bank; provided that
the foregoing shall not be construed to excuse any Issuing Bank from liability to the Applicable
Borrower to the extent of any direct damages (as opposed to consequential damages, claims in
respect of which are hereby waived by the Borrowers to the extent permitted by applicable law)
suffered by the Applicable Borrower that are caused by such Issuing Bank’s failure to exercise
care when determining whether drafts and other documents presented under a Letter of Credit comply
with the terms thereof. The parties hereto expressly agree that, in the absence of gross
negligence or willful misconduct on the part of any Issuing Bank (as finally determined by a court
of competent jurisdiction), each Issuing Bank shall be deemed to have exercised care in each such
determination. In furtherance of the foregoing and without limiting the generality thereof, the
parties agree that, with respect to documents presented which appear on their face to be in
substantial compliance with the terms of a Letter of Credit, the applicable Issuing Bank may, in
its sole discretion, either accept and make payment upon such documents without responsibility for
further investigation, regardless of any notice or information to the contrary, or refuse to
accept and make payment upon such documents if such documents are not in strict compliance with
the terms of such Letter of Credit.

          (g) Disbursement Procedures. The applicable Issuing Bank shall, promptly following
its receipt thereof, examine all documents purporting to represent a demand for payment under a
Letter of Credit. The applicable Issuing Bank shall promptly notify the Administrative Agent and
the Applicable Borrower by telephone (confirmed by telecopy) of such demand for payment and
whether such Issuing Bank has made or will make an LC Disbursement thereunder; provided
that any failure to give or delay in giving such notice shall not relieve the Applicable Borrower
of its obligation to reimburse such Issuing Bank and the Lenders with respect to any such LC
Disbursement.

          (h) Interim Interest. If any Issuing Bank shall make any LC Disbursement, then,
unless the Applicable Borrower shall reimburse such LC Disbursement in full on the date such LC
Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and
including the date such LC Disbursement is made to but excluding the date that the Applicable
Borrower reimburses such LC Disbursement, at the rate per annum then applicable to ABR Revolving
Loans; provided that, if the Applicable Borrower fails to reimburse such LC Disbursement
when due pursuant to paragraph (e) of this Section, then Section 2.13(c) shall apply. Interest
accrued pursuant to this paragraph shall be for the account of the applicable Issuing Bank, except
that interest accrued on and after the date of payment by any Lender pursuant to paragraph (e) of
this Section to reimburse such Issuing Bank shall be for the account of such Lender to the extent
of such payment.

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          (i) Replacement of Issuing Banks. Any Issuing Bank may be replaced at any time by
written agreement among the Borrower, the Administrative Agent, the replaced Issuing Bank and the
successor Issuing Bank. The Administrative Agent shall notify the Lenders of any such replacement
of an Issuing Bank. At the time any such replacement shall become effective, the Borrower shall
pay all unpaid fees accrued for the account of the replaced Issuing Bank pursuant to Section
2.12(b). From and after the effective date of any such replacement, (i) the successor Issuing
Bank shall have all the rights and obligations of an Issuing Bank under this Agreement with
respect to Letters of Credit to be issued thereafter and (ii) references herein to the term
“Issuing Bank” shall be deemed to refer to such successor or to any previous Issuing Bank, or to
such successor and all previous or current Issuing Banks, as the context shall require. After the
replacement of an Issuing Bank hereunder, the replaced Issuing Bank shall remain a party hereto
and shall continue to have all the rights and obligations of an Issuing Bank under this Agreement
with respect to Letters of Credit issued by it prior to such replacement, but shall not be
required to issue additional Letters of Credit.

          (j) Cash Collateralization. If (i) any Event of Default shall occur and be
continuing, on the Business Day that the Borrower receives notice from the Administrative Agent or
the Required Lenders demanding the deposit of cash collateral pursuant to this paragraph or (ii)
as of the date five (5) Business Days prior to the Maturity Date, any Letter of Credit remains
outstanding, then, in either case, the Borrower shall deposit in an account with the
Administrative Agent, in the name of the Administrative Agent and for the benefit of the Lenders,
cash denominated in the same currency in which such Letter of Credit is denominated in an amount
equal to 105% of the LC Exposure in respect of such Letter of Credit as of such date plus any
accrued and unpaid interest thereon; provided that the obligation to deposit such cash
collateral shall become effective immediately, and such deposit shall become immediately due and
payable, without demand or other notice of any kind, upon the occurrence of any Event of Default
with respect to the Borrower described in clause (h) or (i) of Article VII. Any such deposit
shall be held by the Administrative Agent as collateral for the payment and performance of the
obligations of the Borrowers under this Agreement. The Administrative Agent shall have exclusive
dominion and control, including the exclusive right of withdrawal, over such account. Other than
any interest earned on the investment of such deposits, which investments shall be made at the
option and sole discretion of the Administrative Agent and at the Borrower’s risk and expense,
such deposits shall not bear interest. Interest or profits, if any, on such investments shall
accumulate in such account. Moneys in such account shall be applied by the Administrative Agent
to reimburse the Issuing Banks for LC Disbursements for which they have not been reimbursed and,
to the extent not so applied, shall be held for the satisfaction of the reimbursement obligations
of the Borrowers for the LC Exposure at such time or, if the maturity of the Loans has been
accelerated, be applied to satisfy other obligations of the Borrowers under this Agreement. If
the Borrower is required to provide an amount of cash collateral hereunder (i) as a result of the
occurrence of an Event of Default, such amount (to the extent not applied as aforesaid) shall be
returned to the Borrower within three (3) Business Days after all Events of Default have been
cured or waived or (ii) as a result of the expiration of a Letter of Credit extending past the
Maturity Date, such amount (to the extent not applied as aforesaid) shall be returned to the
Borrower within three (3) Business Days after the surrender or expiration of such Letter of
Credit.

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          SECTION 2.07. Funding of Borrowings. (a) Each Lender shall make each Loan to be made
by it hereunder on the proposed date thereof by wire transfer of immediately available funds by
12:00 noon, Local Time, to the account of the Administrative Agent most recently designated by it
for such purpose by notice to the Lenders; provided that Swingline Loans shall be made as
provided in Section 2.05. The Administrative Agent will make such Loans available to the
Applicable Borrower by promptly crediting the amounts so received, in like funds, to an account of
the Applicable Borrower maintained with the Administrative Agent in New York City (or, in the case
of Subsidiary Borrowers or Loans denominated in a Foreign Currency, in such other location as may
be designated by the Administrative Agent) and designated by the Borrower in the applicable
Borrowing Request; provided that ABR Revolving Loans made to finance the reimbursement of
an LC Disbursement as provided in Section 2.06(e) shall be remitted by the Administrative Agent to
the applicable Issuing Bank.

          (b) Unless the Administrative Agent shall have received notice from a Lender prior to the
proposed date of any Borrowing that such Lender will not make available to the Administrative
Agent such Lender’s share of such Borrowing, the Administrative Agent may assume that such Lender
has made such share available on such date in accordance with paragraph (a) of this Section and
may, in reliance upon such assumption, make available to the Applicable Borrower a corresponding
amount. In such event, if a Lender has not in fact made its share of the applicable Borrowing
available to the Administrative Agent, then the applicable Lender and the Applicable Borrower
severally agree to pay to the Administrative Agent forthwith on demand such corresponding amount
with interest thereon, for each day from and including the date such amount is made available to
the Applicable Borrower to but excluding the date of payment to the Administrative Agent, at (i)
in the case of such Lender, (x) the greater of the Federal Funds Effective Rate and a rate
determined by the Administrative Agent in accordance with banking industry rules on interbank
compensation (in the case of a Borrowing denominated in Dollars) or (y) the rate reasonably
determined by the Administrative Agent to be the cost to it of funding such amount (in the case of
a Borrowing denominated in a Foreign Currency) or (ii) in the case of the Applicable Borrower, the
interest rate applicable to ABR Loans. If such Lender pays such amount to the Administrative
Agent, then such amount shall constitute such Lender’s Loan included in such Borrowing.

          SECTION 2.08. Interest Elections. (a) Each Revolving Borrowing initially shall be of
the Type specified in the applicable Borrowing Request and, in the case of a Eurocurrency Revolving
Borrowing, shall have an initial Interest Period as specified in such Borrowing Request.
Thereafter, the Borrower may elect to convert such Borrowing to a different Type, in the case of
Borrowings denominated in Dollars, or to continue such Borrowing and, in the case of a Eurocurrency
Revolving Borrowing, may elect Interest Periods therefor, all as provided in this Section. The
Borrower may elect different options with respect to different portions of the affected Borrowing,
in which case each such portion shall be allocated ratably among the Lenders holding the Loans
comprising such Borrowing, and the Loans comprising each such portion shall be considered a
separate Borrowing. This Section shall not apply to Swingline Borrowings, which may not be
converted or continued.

          (b) To make an election pursuant to this Section, the Borrower shall notify the
Administrative Agent of such election by telephone (or, in the case of elections in respect of
Eurocurrency Borrowings denominated in Foreign Currencies, by hand delivery or telecopy to

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the Administrative Agent of a written Interest Election Request in a form approved the
Administrative Agent and signed by the Borrower) by the time that a Borrowing Request would be
required under Section 2.03 if the Borrower were requesting a Revolving Borrowing of the Type and
denominated in the Foreign Currency resulting from such election to be made on the effective date
of such election. Each such telephonic Interest Election Request shall be irrevocable and shall
be confirmed promptly by hand delivery or telecopy to the Administrative Agent of a written
Interest Election Request in a form approved by the Administrative Agent and signed by the
Borrower.

          (c) Each telephonic and written Interest Election Request shall specify the following
information in compliance with Section 2.02:

     (i) the Borrowing to which such Interest Election Request applies and, if different
options are being elected with respect to different portions thereof, the portions thereof
to be allocated to each resulting Borrowing (in which case the information to be specified
pursuant to clauses (iii) and (iv) below shall be specified for each resulting Borrowing);

     (ii) the effective date of the election made pursuant to such Interest Election
Request, which shall be a Business Day;

     (iii) whether the resulting Borrowing is to be an ABR Borrowing or a Eurocurrency
Borrowing; and

     (iv) if the resulting Borrowing is a Eurocurrency Borrowing, the Interest Period to be
applicable thereto after giving effect to such election, which shall be a period
contemplated by the definition of the term “Interest Period”.

If any such Interest Election Request requests a Eurocurrency Borrowing but does not specify an
Interest Period, then the Borrower shall be deemed to have selected an Interest Period of one
month’s duration.

          (d) Promptly following receipt of an Interest Election Request, the Administrative Agent
shall advise each Lender of the details thereof and of such Lender’s portion of each resulting
Borrowing.

          (e) If the Borrower fails to deliver a timely Interest Election Request with respect to a
Eurocurrency Revolving Borrowing prior to the end of the Interest Period applicable thereto, then,
unless such Borrowing is repaid as provided herein, at the end of such Interest Period such
Borrowing shall be converted to an ABR Borrowing (unless such Borrowing is denominated in a
Foreign Currency, in which case such Borrowing shall be continued as a Eurocurrency Borrowing with
an Interest Period of one month’s duration commencing on the last day of such Interest Period).
Notwithstanding any contrary provision hereof, if an Event of Default has occurred and is
continuing and the Administrative Agent, at the request of the Required Lenders, so notifies the
Borrower, then, so long as an Event of Default is continuing (i) no outstanding Revolving
Borrowing may be converted to or continued as a Eurocurrency Borrowing, (ii) unless repaid, each
Eurocurrency Revolving Borrowing denominated in Dollars shall be converted to an ABR Borrowing at
the end of the

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Interest Period applicable thereto, and (iii) unless repaid, each Eurocurrency Revolving
Borrowing denominated in a Foreign Currency shall be continued as a Eurocurrency Revolving
Borrowing with an Interest Period of one month’s duration.

          SECTION 2.09. Termination, Reduction and Increase of Commitments. (a) Unless
previously terminated, the Commitments shall terminate on the Maturity Date.

          (b) The Borrower may at any time terminate, or from time to time reduce, the Commitments;
provided that (i) each reduction of the Commitments shall be in an amount that is an
integral multiple of $1,000,000 and not less than $5,000,000 and (ii) the Borrower shall not
terminate or reduce the Commitments if, after giving effect to any concurrent prepayment of the
Loans in accordance with Section 2.11, the sum of the Revolving Credit Exposures would exceed the
total Commitments.

          (c) The Borrower shall notify the Administrative Agent of any election to terminate or reduce
the Commitments under paragraph (b) of this Section at least three Business Days prior to the
effective date of such termination or reduction, specifying such election and the effective date
thereof. Promptly following receipt of any notice, the Administrative Agent shall advise the
Lenders of the contents thereof. Each notice delivered by the Borrower pursuant to this Section
shall be irrevocable; provided that a notice of termination of the Commitments delivered
by the Borrower may state that such notice is conditioned upon the effectiveness of other credit
facilities, in which case such notice may be revoked by the Borrower (by notice to the
Administrative Agent on or prior to the specified effective date) if such condition is not
satisfied. Any termination or reduction of the Commitments shall be permanent. Each reduction of
the Commitments shall be made ratably among the Lenders in accordance with their respective
Commitments.

          (d) On up to six occasions, the Borrower may, from time to time, at its option, seek to
increase the total Commitments by up to an aggregate amount of $150,000,000 (resulting in maximum
total Commitments of $300,000,000) upon at least three (3) Business Days’ prior written notice to
the Administrative Agent, which notice shall specify the amount of any such increase and shall be
delivered at a time when no Default has occurred and is continuing. After delivery of such
notice, the Administrative Agent or the Borrower, in consultation with the Administrative Agent,
may offer the increase (which may be declined by any Lender in its sole discretion) in the total
Commitments on either a ratable basis to the Lenders or on a non pro-rata basis to one or more
Lenders and/or to other Lenders or entities reasonably acceptable to the Administrative Agent and
the Borrower. No increase in the total Commitments shall become effective until the existing or
new Lenders extending such incremental Commitment amount and the Borrower shall have delivered to
the Administrative Agent a document (which shall include the Borrower’s representation that the
conditions set forth in Section 4.02 are then satisfied) in form and substance reasonably
satisfactory to the Administrative Agent pursuant to which any such existing Lender states the
amount of its Commitment increase, any such new Lender states its Commitment amount and agrees to
assume and accept the obligations and rights of a Lender hereunder and the Borrower accepts such
incremental Commitments. Upon the effectiveness of any increase in the total Commitments pursuant
hereto, (i) each Lender (new or existing) shall be deemed to have accepted an assignment from the
existing Lenders, and the existing Lenders shall be deemed to

34

 

have made an assignment to each new or existing Lender accepting a new or increased
Commitment, of an interest in each then outstanding Revolving Loan (in each case, on the terms and
conditions set forth in the Assignment and Assumption) and (ii) the Swingline Exposure and LC
Exposure of the existing and new Lenders shall be automatically adjusted such that, after giving
effect to such assignments and adjustments, all Revolving Credit Exposure hereunder is held
ratably by the Lenders in proportion to their respective Commitments. Assignments pursuant to the
preceding sentence shall be made in exchange for the principal amount assigned plus accrued and
unpaid interest and commitment and letter of credit fees. The Borrower shall make any payments
under Section 2.16 resulting from such assignments. Any such increase of the total Commitments
shall be subject to receipt by the Administrative Agent from the Borrower of such supplemental
opinions, resolutions, certificates and other documents as the Administrative Agent may reasonably
request.

          SECTION 2.10. Repayment of Loans; Evidence of Debt. (a) Each Applicable Borrower
hereby unconditionally promises to pay (i) to the Administrative Agent for the account of each
Lender the then unpaid principal amount of each of its Revolving Loans on the Maturity Date and
(ii) to the Swingline Lender the then unpaid principal amount of each Swingline Loan on the earlier
of the Maturity Date and the first date after such Swingline Loan is made that is the 15th or last
day of a calendar month and is at least two Business Days after such Swingline Loan is made;
provided that on each date that a Revolving Borrowing is made, the Borrower shall repay all
Swingline Loans then outstanding.

          (b) Each Lender shall maintain in accordance with its usual practice an account or accounts
evidencing the indebtedness of the Borrowers to such Lender resulting from each Loan made by such
Lender, including the amounts of principal and interest payable and paid to such Lender from time
to time hereunder.

          (c) The Administrative Agent shall maintain accounts in which it shall record (i) the amount
of each Loan made hereunder, the Class and Type thereof and the Interest Period applicable
thereto, (ii) the amount of any principal or interest due and payable or to become due and payable
from the Borrowers to each Lender hereunder and (iii) the amount of any sum received by the
Administrative Agent hereunder for the account of the Lenders and each Lender’s share thereof.

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

          (e) Any Lender may request that Loans made by it be evidenced by a promissory note. In such
event, the Borrowers shall prepare, execute and deliver to such Lender a promissory note payable
to such Lender (or, if requested by such Lender, to such Lender and its registered assigns) and in
a form approved by the Administrative Agent. Thereafter, the Loans evidenced by such promissory
note and interest thereon shall at all times (including after assignment pursuant to Section 9.04)
be represented by one or more

35

 

promissory notes in such form payable to the payee named therein (or, if such promissory note
is a registered note, to such payee and its registered assigns).

          (f) If at any time the aggregate Revolving Credit Exposure of the Lenders exceeds the
aggregate Commitments of the Lenders, the Borrower shall (or shall cause one or more Subsidiary
Borrowers to) immediately prepay the Loans in the amount of such excess. To the extent that,
after the prepayment of all Loans an excess of the Revolving Credit Exposure over the aggregate
Commitments still exists, the Borrower shall (or shall cause one or more Subsidiary Borrowers to)
promptly cash collateralize the Letters of Credit in the manner described in Section 2.06(j) in an
amount sufficient to eliminate such excess.

          (g) The Administrative Agent will determine the Dollar Equivalent of the aggregate LC
Exposure and the Dollar Equivalent of each Loan on each Exchange Rate Date. If at any time the sum
of such amounts exceeds 105% of the aggregate Commitments of the Lenders, the Borrower shall (or
shall cause one or more Subsidiary Borrowers to) immediately prepay the Loans in the amount of
such excess. To the extent that, after the prepayment of all Loans an excess of the sum of such
amounts over the aggregate Commitments still exists, the Borrower shall (or shall cause one or
more Subsidiary Borrowers to) promptly cash collateralize the Letters of Credit in the manner
described in Section 2.06(j) in an amount sufficient to eliminate such excess.

          SECTION 2.11. Prepayment of Loans. (a) The Borrowers shall have the right at any time
and from time to time to prepay any Borrowing in whole or in part, subject to prior notice in
accordance with paragraph (b) of this Section.

          (b) The Borrower shall notify the Administrative Agent (and, in the case of prepayment of a
Swingline Loan, the Swingline Lender) by telephone (promptly confirmed by telecopy) of any
prepayment hereunder (i) in the case of prepayment of a Eurocurrency Revolving Borrowing, not
later than 11:00 a.m., Local Time, three Business Days before the date of prepayment, (ii) in the
case of prepayment of an ABR Revolving Borrowing, not later than 11:00 a.m., Local Time, one
Business Day before the date of prepayment or (iii) in the case of prepayment of a Swingline Loan,
not later than 12:00 noon, Local Time, on the date of prepayment. Each such notice shall be
irrevocable and shall specify the prepayment date and the principal amount of each Borrowing or
portion thereof to be prepaid; provided that, if a notice of prepayment is given in
connection with a conditional notice of termination of the Commitments as contemplated by Section
2.09(c), then such notice of prepayment may be revoked if such notice of termination is revoked in
accordance with Section 2.09(c). Promptly following receipt of any such notice relating to a
Revolving Borrowing, the Administrative Agent shall advise the Lenders of the contents thereof.
Each partial prepayment of any Revolving Borrowing shall be in an amount that would be permitted
in the case of an advance of a Revolving Borrowing of the same Type as provided in Section 2.02.
Each prepayment of a Revolving Borrowing shall be applied ratably to the Loans included in the
prepaid Borrowing. Prepayments shall be accompanied by accrued interest to the extent required by
Section 2.13.

          SECTION 2.12. Fees. (a) The Borrower agrees to pay to the Administrative Agent for
the account of each Lender a commitment fee, which shall accrue at the Applicable

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Rate on the average daily amount of the difference between the Commitment of such Lender and
the Revolving Credit Exposure of such Lender (excluding its Swingline Exposure) during the period
from and including the date hereof to but excluding the date on which such Commitment terminates.
Accrued commitment fees shall be payable in arrears on the third Business Day following the last
day of March, June, September and December of each year and on the date on which the Commitments
terminate, commencing on the first such date to occur after the date hereof; provided that
any commitment fees accruing after the date on which the Commitments terminate shall be payable on
demand. All commitment fees shall be computed on the basis of a year of 360 days and shall be
payable for the actual number of days elapsed (including the first day but excluding the last day).

          (b) The Borrower agrees to pay (i) to the Administrative Agent for the account of each Lender
a participation fee with respect to its participations in Letters of Credit, which shall accrue at
the same Applicable Rate used to determine the interest rate applicable to Eurocurrency Revolving
Loans on the average daily amount of such Lender’s LC Exposure (excluding any portion thereof
attributable to unreimbursed LC Disbursements) during the period from and including the Effective
Date to but excluding the later of the date on which such Lender’s Commitment terminates and the
date on which such Lender ceases to have any LC Exposure, and (ii) to each Issuing Bank a fronting
fee, which shall accrue at the rate or rates per annum separately agreed upon between the Borrower
and such Issuing Bank on the average daily amount of the LC Exposure (excluding any portion
thereof attributable to unreimbursed LC Disbursements) during the period from and including the
Effective Date to but excluding the later of the date of termination of the Commitments and the
date on which there ceases to be any LC Exposure, as well as such Issuing Bank’s standard fees
with respect to the issuance, amendment, renewal or extension of any Letter of Credit or
processing of drawings thereunder. Participation fees and fronting fees accrued through and
including the last day of March, June, September and December of each year shall be payable on the
third Business Day following such last day, commencing on the first such date to occur after the
Effective Date; provided that all such fees shall be payable on the date on which the
Commitments terminate and any such fees accruing after the date on which the Commitments terminate
shall be payable on demand. Any other fees payable to any Issuing Bank pursuant to this paragraph
shall be payable within 10 days after demand. All participation fees and fronting fees shall be
computed on the basis of a year of 360 days and shall be payable for the actual number of days
elapsed (including the first day but excluding the last day).

          (c) The Borrower agrees to pay to the Administrative Agent, for its own account, fees payable
in the amounts and at the times separately agreed upon between the Borrower and the Administrative
Agent.

          (d) All fees payable hereunder shall be paid on the dates due, in immediately available
funds, to the Administrative Agent (or to each Issuing Bank, in the case of fees payable to it)
for distribution, in the case of commitment fees and participation fees, to the Lenders. Fees
paid shall not be refundable under any circumstances.

          SECTION 2.13. Interest. (a) The Loans comprising each ABR Borrowing (including each
Swingline Loan) shall bear interest at the Alternate Base Rate plus the Applicable Rate.

37

 

          (b) The Loans comprising each Eurocurrency Borrowing shall bear interest at the Adjusted
Eurocurrency Rate for the Interest Period in effect for such Borrowing plus the Applicable Rate.

          (c) Notwithstanding the foregoing, if any principal of or interest on any Loan or any fee or
other amount payable by any of the Borrowers hereunder is not paid when due, whether at stated
maturity, upon acceleration or otherwise, such overdue amount shall bear interest, after as well
as before judgment, at a rate per annum equal to (i) in the case of overdue principal of any Loan,
2% plus the rate otherwise applicable to such Loan as provided in the preceding paragraphs of this
Section or (ii) in the case of any other amount, 2% plus the rate applicable to ABR Loans as
provided in paragraph (a) of this Section.

          (d) Accrued interest on each Loan shall be payable in arrears on each Interest Payment Date
for such Loan, upon the final maturity thereof and upon termination of the Commitments pursuant to
Section 2.09; provided that (i) interest accrued pursuant to paragraph (c) of this Section
shall be payable on demand, (ii) in the event of any repayment or prepayment of any Loan (other
than a prepayment of an ABR Loan prior to the end of the Availability Period), accrued interest on
the principal amount repaid or prepaid shall be payable on the date of such repayment or
prepayment and (iii) in the event of any conversion of any Eurocurrency Loan prior to the end of
the current Interest Period therefor, accrued interest on such Loan shall be payable on the
effective date of such conversion.

          (e) All interest hereunder shall be computed on the basis of a year of 360 days, except that
(i) interest on Borrowings denominated in Sterling shall be computed on the basis of a year of 365
days, (ii) interest on Borrowings denominated in any other Foreign Currency for which it is
required by applicable law or customary to compute interest on the basis of a year of 365 days or,
if required by applicable law or customary, 366 days in a leap year, shall be computed on such
basis, and (iii) interest computed by reference to the Alternate Base Rate at times when the
Alternate Base Rate is based on the Prime Rate shall be computed on the basis of a year of 365
days (or 366 days in a leap year), and in each case shall be payable for the actual number of days
elapsed (including the first day but excluding the last day). The applicable Alternate Base Rate,
Adjusted Eurocurrency Rate or Eurocurrency Rate shall be determined by the Administrative Agent,
and such determination shall be conclusive absent manifest error.

          SECTION 2.14. Alternate Rate of Interest. If prior to the commencement of any
Interest Period for a Eurocurrency Borrowing denominated in any currency:

          (a) the Administrative Agent determines (which determination shall be conclusive absent
manifest error) that adequate and reasonable means do not exist for ascertaining the Adjusted
Eurocurrency Rate or the Eurocurrency Rate, as applicable, for such Interest Period; or

          (b) the Administrative Agent is advised by the Required Lenders that the Adjusted
Eurocurrency Rate or the Eurocurrency Rate, as applicable, for such Interest Period will not
adequately and fairly reflect the cost to such Lenders (or Lender) of making or maintaining their
Loans (or its Loan) included in such Borrowing for such Interest Period;

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then the Administrative Agent shall give notice thereof to the Borrower and the Lenders by
telephone or telecopy as promptly as practicable thereafter and, until the Administrative Agent
notifies the Borrower and the Lenders that the circumstances giving rise to such notice no longer
exist, (i) any Interest Election Request that requests the conversion of any Revolving Borrowing
to, or continuation of any Revolving Borrowing as, a Eurocurrency Borrowing denominated in such
currency shall be ineffective, (ii) such Borrowing shall be converted to or continued as on the
last day of the Interest Period applicable thereto (A) if such Borrowing is denominated in Dollars,
an ABR Borrowing or (B) if such Borrowing is denominated in a Foreign Currency, as a Borrowing in
respect of which the rate to apply to each Lender’s participation is an interest rate equal to the
sum of (1) the Applicable Rate for Eurocurrency Loans, (2) the rate notified to the Administrative
Agent by such Lender as soon as practicable and in any event before interest is due to be paid in
respect of the applicable Interest Period, to be that which expresses as a percentage rate per
annum the cost to such Lender of funding its participation in the applicable Borrowing from
whatever source it may reasonably select; and (3) the Mandatory Costs Rate, if any, applicable to
such Lender’s participation in the applicable Borrowing, and (iii) if any Borrowing Request
requests a Eurocurrency Borrowing in such currency, such Borrowing shall be made as an ABR
Borrowing (if such Borrowing is requested to be made in Dollars) or shall be made as a Borrowing
bearing interest at the rate described under (ii)(B) above.

          SECTION 2.15. Increased Costs. (a) If any Change in Law shall:

     (i) impose, modify or deem applicable any reserve, special deposit or similar
requirement against assets of, deposits with or for the account of, or credit extended by,
any Lender (except any such reserve requirement reflected in the Adjusted Eurocurrency Rate
or compensated for by the Mandatory Cost Rate) or any Issuing Bank;

     (ii) impose on any Lender or Issuing Bank or the London interbank market any other
condition affecting this Agreement or Eurocurrency Loans made by such Lender or any Letter
of Credit or participation therein; or

     (iii) subject any Recipient to any Taxes on its loans, loan principal, letters of
credit, commitments, or other obligations, or its deposits, reserves, other liabilities or
capital attributable thereto (other than (A) Indemnified Taxes and (B) Excluded Taxes);

and the result of any of the foregoing shall be to increase the cost to such Lender or such other
Recipient of making or maintaining any Eurocurrency Loan (or of maintaining its obligation to make
any such Loan) or to increase the cost to such Lender, such Issuing Bank or such other Recipient of
participating in, issuing or maintaining any Letter of Credit or to reduce the amount of any sum
received or receivable by such Lender, such Issuing Bank or such other Recipient hereunder (whether
of principal, interest or otherwise), then the Applicable Borrower will pay to such Lender, such
Issuing Bank or such other Recipient, as the case may be, such additional amount or amounts as will
compensate such Lender, such Issuing Bank or such other Recipient, as the case may be, for such
additional costs incurred or reduction suffered.

          (b) If any Lender or Issuing Bank determines that any Change in Law regarding capital
requirements has or would have the effect of reducing the rate of return on such Lender’s or
Issuing Bank’s capital or on the capital of such Lender’s or Issuing Bank’s

39

 

holding company, if any, as a consequence of this Agreement or the Loans made by, or
participations in Letters of Credit held by, such Lender, or the Letters of Credit issued by such
Issuing Bank, to a level below that which such Lender or Issuing Bank or such Lender’s or Issuing
Bank’s holding company could have achieved but for such Change in Law (taking into consideration
such Lender’s or Issuing Bank’s policies and the policies of such Lender’s or Issuing Bank’s
holding company with respect to capital adequacy), then from time to time the Borrower will pay to
such Lender or Issuing Bank, as the case may be, such additional amount or amounts as will
compensate such Lender or Issuing Bank or such Lender’s or Issuing Bank’s holding company for any
such reduction suffered.

          (c) A certificate of a Lender or Issuing Bank setting forth the amount or amounts necessary
to compensate such Lender or Issuing Bank or its holding company, as the case may be, as specified
in paragraph (a) or (b) of this Section shall be delivered to the Borrower and shall be conclusive
absent manifest error. The Borrower (or, in the case of paragraph (a), the Applicable Borrower)
shall pay such Lender or Issuing Bank, as the case may be, the amount shown as due on any such
certificate within 10 days after receipt thereof.

          (d) Failure or delay on the part of any Lender or Issuing Bank to demand compensation
pursuant to this Section shall not constitute a waiver of such Lender’s or Issuing Bank’s right to
demand such compensation; provided that the Borrowers shall not be required to compensate
a Lender or Issuing Bank pursuant to this Section for any increased costs or reductions incurred
more than 270 days prior to the date that such Lender or Issuing Bank, as the case may be,
notifies the Borrower of the Change in Law giving rise to such increased costs or reductions and
of such Lender’s or Issuing Bank’s intention to claim compensation therefor; provided
further that, if the Change in Law giving rise to such increased costs or reductions is
retroactive, then the 270-day period referred to above shall be extended to include the period of
retroactive effect thereof.

          SECTION 2.16. Break Funding Payments. In the event of (a) the payment of any
principal of any Eurocurrency Loan other than on the last day of an Interest Period applicable
thereto (including as a result of an Event of Default), (b) the conversion of any Eurocurrency Loan
other than on the last day of the Interest Period applicable thereto, (c) the failure to borrow,
convert, continue or prepay any Eurocurrency Loan on the date specified in any notice delivered
pursuant hereto (regardless of whether such notice may be revoked under Section 2.11(b) and is
revoked in accordance therewith) or (d) the assignment of any Eurocurrency Loan other than on the
last day of the Interest Period applicable thereto as a result of a request by the Borrower
pursuant to Section 2.19, then, in any such event, the Applicable Borrower shall compensate each
Lender for the loss, cost and expense attributable to such event. In the case of a Eurocurrency
Loan, such loss, cost or expense to any Lender shall be deemed to include an amount determined by
such Lender to be the excess, if any, of (i) the amount of interest which would have accrued on the
principal amount of such Loan had such event not occurred, at the Adjusted Eurocurrency Rate that
would have been applicable to such Loan, for the period from the date of such event to the last day
of the then current Interest Period therefor (or, in the case of a failure to borrow, convert or
continue, for the period that would have been the Interest Period for such Loan), over (ii) the
amount of interest which would accrue on such principal amount for such period at the interest rate
which such Lender would bid were it to bid, at the commencement of such period, for Dollar deposits
in the applicable currency of a comparable

40

 

amount and period from other banks in the eurocurrency market. A certificate of any Lender
setting forth any amount or amounts that such Lender is entitled to receive pursuant to this
Section shall be delivered to the Applicable Borrower and shall be conclusive absent manifest
error. The Applicable Borrower shall pay such Lender the amount shown as due on any such
certificate within 10 days after receipt thereof.

          SECTION 2.17. Taxes. (a) Withholding of Taxes; Gross-Up. Each payment by or
on account of any Credit Party under any Credit Document shall be made without withholding for any
Taxes, unless such withholding is required by any law. If any Withholding Agent determines, in its
sole discretion exercised in good faith, that it is so required to withhold Taxes, then such
Withholding Agent may so withhold and shall timely pay the full amount of withheld Taxes to the
relevant Governmental Authority in accordance with applicable law. If such Taxes are Indemnified
Taxes, then the amount payable by such Credit Party shall be increased as necessary so that, net of
such withholding (including such withholding applicable to additional amounts payable under this
Section), the applicable Recipient receives the amount it would have received had no such
withholding been made.

          (b) Payment of Other Taxes by the Borrowers. The Applicable Borrower shall timely
pay any Other Taxes to the relevant Governmental Authority in accordance with applicable law.

          (c) Evidence of Payments. As soon as practicable after any payment of Indemnified
Taxes by any Credit Party to a Governmental Authority, such Credit Party shall deliver to the
Administrative Agent the original or a certified copy of a receipt issued by such Governmental
Authority evidencing such payment, a copy of the return reporting such payment or other evidence
of such payment reasonably satisfactory to the Administrative Agent.

          (d) Indemnification by the Borrowers. The Credit Parties shall jointly and severally
indemnify each Recipient for any Indemnified Taxes that are paid or payable by such Recipient in
connection with any Credit Document (including amounts paid or payable under this Section 2.17(d))
and any reasonable expenses arising therefrom or with respect thereto, whether or not such
Indemnified Taxes were correctly or legally imposed or asserted by the relevant Governmental
Authority. The indemnity under this Section 2.17(d) shall be paid within 10 days after the
Recipient delivers to any Credit Party a certificate stating the amount of any Indemnified Taxes
so paid or payable by such Recipient and describing the basis for the indemnification claim. Such
certificate shall be conclusive of the amount so paid or payable absent manifest error. Such
Recipient shall deliver a copy of such certificate to the Administrative Agent.

          (e) Indemnification by the Lenders. Each Lender shall severally indemnify the
Administrative Agent for any Taxes (but, in the case of any Indemnified Taxes, only to the extent
that any Credit Party has not already indemnified the Administrative Agent for such Indemnified
Taxes and without limiting the obligation of the Credit Parties to do so) attributable to such
Lender that are paid or payable by the Administrative Agent in connection with any Credit Document
and any reasonable expenses arising therefrom or with respect thereto, whether or not such Taxes
were correctly or legally imposed or asserted by the

41

 

relevant Governmental Authority. The indemnity under this Section 2.17(e) shall be paid
within 10 days after the Administrative Agent delivers to the applicable Lender a certificate
stating the amount of Taxes so paid or payable by the Administrative Agent. Such certificate
shall be conclusive of the amount so paid or payable absent manifest error.

          (f) Status of Lenders. (i) Any Lender that is entitled to an exemption from, or
reduction of, any applicable withholding Tax with respect to any payments under any Credit
Document shall deliver to the Applicable Borrower and the Administrative Agent, at the time or
times reasonably requested by the Applicable Borrower or the Administrative Agent, such properly
completed and executed documentation reasonably requested by the Applicable Borrower or the
Administrative Agent as will permit such payments to be made without, or at a reduced rate of,
withholding. In addition, any Lender, if requested by the Applicable Borrower or the
Administrative Agent, shall deliver such other documentation prescribed by law or reasonably
requested by the Applicable Borrower or the Administrative Agent as will enable the Applicable
Borrower or the Administrative Agent to determine whether or not such Lender is subject to any
withholding (including backup withholding) or information reporting requirements. Notwithstanding
anything to the contrary in the preceding two sentences, the completion, execution and submission
of such documentation (other than such documentation set forth in Section 2.17(f)(ii)(A) through
(E) below) shall not be required if in the Lender’s judgment such completion, execution or
submission would subject such Lender to any material unreimbursed cost or expense or would
materially prejudice the legal or commercial position of such Lender. Upon the reasonable request
of the Applicable Borrower or the Administrative Agent, any Lender shall update any form or
certification previously delivered pursuant to this Section 2.17(f) (to the extent it is legally
eligible to do so). If any form or certification previously delivered pursuant to this Section
expires or becomes obsolete or inaccurate in any respect with respect to a Lender, such Lender
shall promptly (and in any event within 10 days after such expiration, obsolescence or inaccuracy)
notify the Applicable Borrower and the Administrative Agent in writing of such expiration,
obsolescence or inaccuracy and update the form or certification if it is legally eligible to do
so.

     (ii) Without limiting the generality of the foregoing, if the Applicable Borrower is a
U.S. Person, any Lender with respect to such Applicable Borrower shall, if it is legally
eligible to do so, deliver to such Applicable Borrower and the Administrative Agent (in such
number of copies reasonably requested by such Applicable Borrower and the Administrative
Agent) on or prior to the date on which such Lender becomes a party hereto, duly completed
and executed copies of whichever of the following is applicable:

          (A) in the case of a Lender that is a U.S. Person, IRS Form W-9 certifying that such
Lender is exempt from U.S. Federal backup withholding tax;

          (B) in the case of a Non-U.S. Lender claiming the benefits of an income tax treaty to
which the United States is a party (1) with respect to payments of interest under any Credit
Document, IRS Form W-8BEN establishing an exemption from, or reduction of, U.S. Federal
withholding Tax pursuant to the “interest” article of such tax treaty and (2) with respect
to any other applicable payments under this Agreement, IRS Form W-8BEN establishing an
exemption from, or reduction of, U.S. Federal

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withholding Tax pursuant to the “business profits” or “other income” article of such
tax treaty;

          (C) in the case of a Non-U.S. Lender for whom payments under this Agreement constitute
income that is effectively connected with such Lender’s conduct of a trade or business in
the United States, IRS Form W-8ECI;

          (D) in the case of a Non-U.S. Lender claiming the benefits of the exemption for
portfolio interest under Section 881(c) of the Code both (1) IRS Form W-8BEN and (2) a
certificate substantially in the form of Exhibit E (a “U.S. Tax
Certificate”) to the effect that such Lender is not (a) a “bank” within the meaning of
Section 881(c)(3)(A) of the Code, (b) a “10 percent shareholder” of the Applicable Borrower
within the meaning of Section 881(c)(3)(B) of the Code (c) a “controlled foreign
corporation” described in Section 881(c)(3)(C) of the Code and (d) conducting a trade or
business in the United States with which the relevant interest payments are effectively
connected;

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

          (F) any other form prescribed by law as a basis for claiming exemption from, or a
reduction of, U.S. Federal withholding Tax together with such supplementary documentation
necessary to enable the Applicable Borrower or the Administrative Agent to determine the
amount of Tax (if any) required by law to be withheld.

     (iii) If a payment made to a Lender under any Credit Document would be subject to U.S.
Federal withholding Tax imposed by FATCA if such Lender were to fail to comply with the
applicable reporting requirements of FATCA (including those contained in Section 1471(b) or
1472(b) of the Code, as applicable), such Lender shall deliver to the Withholding Agent, at
the time or times prescribed by law and at such time or times reasonably requested by the
Withholding Agent, such documentation prescribed by applicable law (including as prescribed
by Section 1471(b)(3)(C)(i) of the Code) and such additional documentation reasonably
requested by the Withholding Agent as may be necessary for the Withholding Agent to comply
with its obligations under FATCA, to determine that such Lender has or has not complied with
such Lender’s obligations under FATCA and, as necessary, to determine the amount to deduct
and withhold from such payment. Solely for purposes of this Section 2.17(f)(iii), “FATCA”
shall include any amendments made to FATCA after the date of this Agreement.

          (g) Treatment of Certain Refunds. If any party determines, in its sole discretion
exercised in good faith, that it has received a refund of any Taxes as to which it has

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been indemnified pursuant to this Section 2.17 (including additional amounts paid pursuant to
this Section 2.17), it shall pay to the indemnifying party an amount equal to such refund (but
only to the extent of indemnity payments previously made under this Section 2.17 with respect to
the Taxes giving rise to such refund), net of all out-of-pocket expenses (including any Taxes) of
such indemnified party and without interest (other than any interest paid by the relevant
Governmental Authority with respect to such refund). Such indemnifying party, upon the request of
such indemnified party, shall repay to such indemnified party the amount paid to such indemnifying
party pursuant to the previous sentence (plus any penalties, interest or other charges imposed by
the relevant Governmental Authority) in the event such indemnified party is required to repay such
refund to such Governmental Authority. Notwithstanding anything to the contrary in this Section
2.17(g), in no event will any indemnified party be required to pay any amount to any indemnifying
party pursuant to this Section 2.17(g) if such payment would place such indemnified party in a
less favorable position (on a net after-Tax basis) than such indemnified party would have been in
if the indemnification payments or additional amounts giving rise to such refund had never been
paid. This Section 2.17(g) shall not be construed to require any indemnified party to make
available its Tax returns (or any other information relating to its Taxes which it deems
confidential) to the indemnifying party or any other Person.

          (h) Survival. Each party’s obligations under this Section 2.17 shall survive any
assignment of rights by, or the replacement of, a Lender, the termination of the Commitments and
the repayment, satisfaction or discharge of all other obligations under any Credit Document.

          (i) Issuing Bank. For purposes of Section 2.17(e) and (f), the term “Lender”
includes any Issuing Bank.

          SECTION 2.18. Payments Generally; Pro Rata Treatment; Sharing of Set-offs. (a) Each
of the Borrowers shall make each payment required to be made by it hereunder (whether of principal,
interest, fees or reimbursement of LC Disbursements, or of amounts payable under Section 2.15, 2.16
or 2.17, or otherwise) prior to 12:00 noon, Local Time, on the date when due, in immediately
available funds, without set off or counterclaim. Any amounts received after such time on any date
may, in the discretion of the Administrative Agent, be deemed to have been received on the next
succeeding Business Day for purposes of calculating interest thereon. All such payments shall be
made to the Administrative Agent at its offices at 10 South Dearborn, Floor 19, Chicago, Illinois
60603, except payments to be made directly to any Issuing Bank or Swingline Lender as expressly
provided herein and except that payments pursuant to Sections 2.15, 2.16, 2.17 and 9.03 shall be
made directly to the Persons entitled thereto. The Administrative Agent shall distribute any such
payments received by it for the account of any other Person to the appropriate recipient promptly
following receipt thereof. If any payment hereunder shall be due on a day that is not a Business
Day, the date for payment shall be extended to the next succeeding Business Day, and, in the case
of any payment accruing interest, interest thereon shall be payable for the period of such
extension. All payments hereunder of (i) principal or interest in respect of any Loan shall be
made in the currency in which such Loan is denominated, (ii) reimbursement obligations shall be
made in the currency in which the Letter of Credit in respect of which such reimbursement
obligation exists is denominated or (iii) any other amount due hereunder or under another Credit

44

 

Document shall be made in Dollars. Any payment required to be made by the Administrative
Agent hereunder shall be deemed to have been made by the time required if the Administrative Agent
shall at or before such time have taken the necessary steps to make such payment in accordance with
the regulations or operating procedures of the clearing or settlement system used by the
Administrative Agent to make such payment.

          (b) If at any time insufficient funds are received by and available to the Administrative
Agent to pay fully all amounts of principal, unreimbursed LC Disbursements, interest and fees then
due hereunder, such funds shall be applied (i) first, towards payment of interest and fees then
due hereunder, ratably among the parties entitled thereto in accordance with the amounts of
interest and fees then due to such parties, and (ii) second, towards payment of principal and
unreimbursed LC Disbursements then due hereunder, ratably among the parties entitled thereto in
accordance with the amounts of principal and unreimbursed LC Disbursements then due to such
parties.

          (c) If any Lender shall, by exercising any right of set off or counterclaim or otherwise,
obtain payment in respect of any principal of or interest on any of its Revolving Loans or
participations in LC Disbursements or Swingline Loans resulting in such Lender receiving payment
of a greater proportion of the aggregate amount of its Revolving Loans and participations in LC
Disbursements and Swingline Loans and accrued interest thereon than the proportion received by any
other Lender, then the Lender receiving such greater proportion shall purchase (for cash at face
value) participations in the Revolving Loans and participations in LC Disbursements and Swingline
Loans of other Lenders without recourse or warranty from the other Lenders except as contemplated
by Section 9.04 in respect of assignments to the extent necessary so that the benefit of all such
payments shall be shared by the Lenders ratably in accordance with the aggregate amount of
principal of and accrued interest on their respective Revolving Loans and participations in LC
Disbursements and Swingline Loans; provided that (i) if any such participations are
purchased and all or any portion of the payment giving rise thereto is recovered, such
participations shall be rescinded and the purchase price restored to the extent of such recovery,
without interest, and (ii) the provisions of this paragraph shall not be construed to apply to any
payment made by any of the Borrowers pursuant to and in accordance with the express terms of this
Agreement or any payment obtained by a Lender as consideration for the assignment of or sale of a
participation in any of its Loans or participations in LC Disbursements to any assignee or
participant, other than to the Borrower or any Subsidiary or Affiliate thereof (as to which the
provisions of this paragraph shall apply). Each of the Borrowers consents to the foregoing and
agrees, to the extent it may effectively do so under applicable law, that any Lender acquiring a
participation pursuant to the foregoing arrangements may exercise against such Applicable Borrower
rights of set-off and counterclaim with respect to such participation as fully as if such Lender
were a direct creditor of such Applicable Borrower in the amount of such participation.

          (d) Unless the Administrative Agent shall have received notice from the Applicable Borrower
prior to the date on which any payment is due to the Administrative Agent for the account of the
Lenders or any Issuing Bank hereunder that the Applicable Borrower will not make such payment, the
Administrative Agent may assume that the Applicable Borrower has made such payment on such date in
accordance herewith and may, in reliance upon such assumption, distribute to the Lenders or the
applicable Issuing Bank, as the

45

 

case may be, the amount due. In such event, if the Applicable Borrower has not in fact made
such payment, then each of the Lenders or the applicable Issuing Bank, as the case may be,
severally agrees to repay to the Administrative Agent forthwith on demand the amount so
distributed to such Lender or Issuing Bank with interest thereon, for each day from and including
the date such amount is distributed to it to but excluding the date of payment to the
Administrative Agent, (i) at the greater of the Federal Funds Effective Rate and a rate determined
by the Administrative Agent in accordance with banking industry rules on interbank compensation
(in the case of an amount denominated in Dollars) and (ii) the rate reasonably determined by the
Administrative Agent to be the cost to it of funding such amount (in the case of an amount
denominated in a Foreign Currency).

          (e) If any Lender shall fail to make any payment required to be made by it pursuant to
Section 2.05(c), 2.06(d) or (e), 2.07(b), 2.18(d) or 9.03(c), then the Administrative Agent may,
in its discretion and notwithstanding any contrary provision hereof, (i) apply any amounts
thereafter received by the Administrative Agent for the account of such Lender and for the benefit
of the Administrative Agent or the applicable Issuing Bank to satisfy such Lender’s obligations
under such Sections until all such unsatisfied obligations are fully paid, and/or (ii) hold any
such amounts in a segregated account as cash collateral for, and application to, any future
funding obligations of such Lender under such Sections; in the case of each of (i) and (ii) above,
in any order as determined by the Administrative Agent in its discretion.

          SECTION 2.19. Mitigation Obligations; Replacement of Lenders. (a) If any Lender
requests compensation under Section 2.15, or if any of the Borrowers is required to pay any
additional amount to any Lender or any Governmental Authority for the account of any Lender
pursuant to Section 2.17, then such Lender shall use reasonable efforts to designate a different
lending office for funding or booking its Loans hereunder or to assign its rights and obligations
hereunder to another of its offices, branches or affiliates, if, in the judgment of such Lender,
such designation or assignment (i) would eliminate or reduce amounts payable pursuant to Section
2.15 or 2.17, as the case may be, in the future and (ii) would not subject such Lender to any
unreimbursed cost or expense and would not otherwise be disadvantageous to such Lender. The
Borrower hereby agrees to pay, or to cause the Applicable Borrower to pay, all reasonable costs and
expenses incurred by any Lender in connection with any such designation or assignment.

          (b) If any Lender requests compensation under Section 2.15, or if any of the Borrowers is
required to pay any additional amount to any Lender or any Governmental Authority for the account
of any Lender pursuant to Section 2.17, or if any Lender becomes a Defaulting Lender, then the
Borrower may, at its sole expense and effort, upon notice to such Lender and the Administrative
Agent, require such Lender to assign and delegate, without recourse (in accordance with and
subject to the restrictions contained in Section 9.04), all its interests, rights and obligations
under this Agreement to an assignee that shall assume such obligations (which assignee may be
another Lender, if a Lender accepts such assignment); provided that (i) the Borrower shall
have received the prior written consent of the Administrative Agent (and if a Commitment is being
assigned, each Issuing Bank), which consent shall not unreasonably be withheld, (ii) such Lender
shall have received payment of an amount equal to the outstanding principal of its Loans and
participations in LC Disbursements and Swingline Loans, accrued interest thereon, accrued fees and
all other amounts payable to it

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hereunder, from the assignee (to the extent of such outstanding principal and accrued
interest and fees) or the Borrowers (in the case of all other amounts) and (iii) in the case of
any such assignment resulting from a claim for compensation under Section 2.15 or payments
required to be made pursuant to Section 2.17, such assignment will result in a reduction in such
compensation or payments. A Lender shall not be required to make any such assignment and
delegation if, prior thereto, as a result of a waiver by such Lender or otherwise, the
circumstances entitling the Borrower to require such assignment and delegation cease to apply.

          SECTION 2.20. Subsidiary Borrowers.

          (a) The Borrower may, at any time or from time to time, designate one or more Wholly-Owned
Subsidiaries of the Borrower as a “Subsidiary Borrower” hereunder by furnishing to the
Administrative Agent a Designation Letter in duplicate, duly completed and executed by the
Borrower and such Wholly-Owned Subsidiary, together with the items described in paragraphs (e) and
(f) of Section 4.01 relating to such Subsidiary Borrower in substantially the same form and scope
as those delivered with respect to any Subsidiary Borrower designated on the date of this
Agreement and such other documents as the Administrative Agent shall reasonably request. The
Administrative Agent shall promptly notify each Lender of any such designation by the Borrower.
Upon any such designation of a Wholly-Owned Subsidiary and, in the case of a designated Subsidiary
which is a Foreign Subsidiary, the approval of the Administrative Agent and each Lender, such
Subsidiary shall be a Subsidiary Borrower hereunder (with the related rights and obligations) and
shall be entitled to request Revolving Loans on and subject to the terms and conditions of, and to
the extent provided in, this Agreement. The Administrative Agent and each Lender hereby
acknowledge and agree that Robbins & Myers Finance Europe B.V. is being designated as a Subsidiary
Borrower as of the Effective Date.

          (b) So long as all Loans made to any Subsidiary Borrower and any related obligations have
been paid in full and there exists no LC Exposure with respect to Letters of Credit issued for the
account of such Subsidiary Borrower, the Borrower may terminate the status of such Subsidiary
Borrower as a Subsidiary Borrower hereunder by furnishing to the Administrative Agent a
Termination Letter in duplicate, duly completed and executed by the Borrower and such Subsidiary.
Any Termination Letter furnished hereunder shall be effective upon receipt by the Administrative
Agent, which shall promptly notify the Lenders. Notwithstanding the foregoing, the delivery of a
Termination Letter with respect to any Subsidiary Borrower shall not terminate (i) any obligation
of such Subsidiary Borrower that remains unpaid at the time of such delivery or (ii) the
obligations of the Borrower under the Parent Guaranty or of any Subsidiary Guarantor (including
such Subsidiary Borrower) under the Subsidiary Guaranty or any other Guarantee delivered pursuant
hereto with respect to any such unpaid obligations.

          SECTION 2.21. Additional Reserve Costs. (a) For so long as any Lender is required to
comply with (i) the requirements of the Bank of England and/or the Financial Services Authority
(or, in either case, any other authority which replaces all or any of its functions) or (ii) the
requirements of the European Central Bank, in each case in respect of such Lender’s Eurocurrency
Loans, such Lender shall be entitled to require the Applicable Borrower to pay, contemporaneously
with each payment of interest on each of such Loans, additional

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interest on such Loan at a rate per annum equal to the Mandatory Costs Rate calculated in
accordance with the formula and in the manner set forth in Exhibit D hereto.

          (b) Any additional interest owed pursuant to paragraph (a) above shall be determined by the
applicable Lender, which determination shall be conclusive absent manifest error, and notified to
the Applicable Borrower (with a copy to the Administrative Agent) at least five Business Days
before each date on which interest is payable for the applicable Loan, and such additional
interest so notified to the Applicable Borrower by such Lender shall be due and payable to the
Administrative Agent for the account of such Lender on each date on which interest is payable for
such Loan. If a Lender fails to give such notice at least five Business Days before such date,
then such additional interest shall be due and payable five Business Days after such notice is
given.

          SECTION 2.22. Defaulting Lenders. Notwithstanding any provision of this Agreement to
the contrary, if any Lender becomes a Defaulting Lender, then the following provisions shall apply
for so long as such Lender is a Defaulting Lender:

          (a) fees shall cease to accrue on the unfunded portion of the Commitment of such Defaulting
Lender pursuant to Section 2.12(a);

          (b) the Commitments, LC Exposure and Revolving Credit Exposure of such Defaulting Lender
shall not be included in determining whether the Required Lenders have taken or may take any
action hereunder (including any consent to any amendment or waiver pursuant to Section 9.02),
provided that this clause (b) shall not apply to the vote of a Defaulting Lender in the
case of an amendment, waiver or other modification requiring the consent of such Lender or each
Lender affected thereby (except (i) such Defaulting Lender’s Commitment may not be increased or
extended without its consent and (ii) the principal amount of, or interest or fees payable on,
Loans or LC Disbursements may not be reduced or excused or the scheduled date of payment may not
be postponed as to such Defaulting Lender without such Defaulting Lender’s consent);

          (c) if any Swingline Exposure or LC Exposure exists at the time a Lender becomes a Defaulting
Lender then:

     (i) all or any part of such Swingline Exposure and LC Exposure shall be reallocated
among the non-Defaulting Lenders in accordance with their respective Applicable Percentages
but only to the extent the sum of all non-Defaulting Lenders’ Revolving Credit Exposures
plus such Defaulting Lender’s Swingline Exposure and LC Exposure does not exceed the total
of all non-Defaulting Lenders’ Commitments;

     (ii) if the reallocation described in clause (i) above cannot, or can only partially,
be effected, the Borrower shall within one Business Day following notice by the
Administrative Agent (x) first, prepay such Swingline Exposure and (y) second, cash
collateralize for the benefit of the applicable Issuing Bank only the Applicable Borrower’s
obligations corresponding to such Defaulting Lender’s LC Exposure (after giving effect to
any partial reallocation pursuant to clause (i) above) in accordance with

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the procedures set forth in Section 2.06(j) for so long as such LC Exposure is
outstanding;

     (iii) if the Borrower cash collateralizes any portion of such Defaulting Lender’s LC
Exposure pursuant to clause (ii) above, the Borrower shall not be required to pay any fees
to such Defaulting Lender pursuant to Section 2.12(b) with respect to such Defaulting
Lender’s LC Exposure during the period such Defaulting Lender’s LC Exposure is cash
collateralized;

     (iv) if the LC Exposure of the non-Defaulting Lenders is reallocated pursuant to clause
(i) above, then the fees payable to the Lenders pursuant to Section 2.12(a) and Section
2.12(b) shall be adjusted in accordance with such non-Defaulting Lenders’ Applicable
Percentages; or

     (v) if all or any portion of such Defaulting Lender’s LC Exposure is neither cash
collateralized nor reallocated pursuant to clause (i) or (ii) above, then, without prejudice
to any rights or remedies of any Issuing Bank or any other Lender hereunder, all commitment
fees that otherwise would have been payable to such Defaulting Lender (solely with respect
to the portion of such Defaulting Lender’s Commitment that was utilized by such LC Exposure)
and letter of credit fees payable under Section 2.12(b) with respect to such Defaulting
Lender’s LC Exposure shall be payable to the applicable Issuing Bank until such LC Exposure
is cash collateralized and/or reallocated; and

          (d) so long as such Lender is a Defaulting Lender, the Swingline Lender shall not be required
to fund any Swingline Loan and no Issuing Bank shall be required to issue, amend or increase any
Letter of Credit, unless it is satisfied that the related exposure and the Defaulting Lender’s
then outstanding LC Exposure will be 100% covered by the Commitments of the non-Defaulting Lenders
and/or cash collateral will be provided by the Borrower in accordance with Section 2.22(c), and
participating interests in any such newly issued or increased Letter of Credit or newly made
Swingline Loan shall be allocated among non-Defaulting Lenders in a manner consistent with Section
2.22(c)(i) (and such Defaulting Lender shall not participate therein).

          If (i) a Bankruptcy Event with respect to a Parent of any Lender shall occur following the
date hereof and for so long as such event shall continue or (ii) the Swingline Lender or any
Issuing Bank has a good faith belief that any Lender has defaulted in fulfilling its obligations
under one or more other agreements in which such Lender commits to extend credit, the Swingline
Lender shall not be required to fund any Swingline Loan and no Issuing Bank shall be required to
issue, amend or increase any Letter of Credit, unless the Swingline Lender or the applicable
Issuing Bank, as the case may be, shall have entered into arrangements with the Borrower or such
Lender, satisfactory to the Swingline Lender or such Issuing Bank, as the case may be, to defease
any risk to it in respect of such Lender hereunder.

          In the event that the Administrative Agent, the Borrower, the Swingline Lender and the Issuing
Banks each agrees that a Defaulting Lender has adequately remedied all matters that caused such
Lender to be a Defaulting Lender, then the Swingline Exposure and LC Exposure of the Lenders shall
be readjusted to reflect the inclusion of such Lender’s

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Commitment and on such date such Lender shall purchase at par such of the Loans of the other
Lenders (other than Swingline Loans) as the Administrative Agent shall determine may be necessary
in order for such Lender to hold such Loans in accordance with its Applicable Percentage.

ARTICLE III

Representations and Warranties

          The Borrower represents and warrants to the Administrative Agent and the Lenders that:

          SECTION 3.01. Organization; Powers. Each of the Borrower and its Subsidiaries is
duly organized, validly existing and, except as set forth on Schedule 3.01, in good
standing under the laws of the jurisdiction of its organization, has all requisite power and
authority to carry on its business as now conducted and, except where the failure to do so,
individually or in the aggregate, could not reasonably be expected to result in a Material Adverse
Effect, is qualified to do business in, and is in good standing in, every jurisdiction where such
qualification is required.

          SECTION 3.02. Authorization; Enforceability. The Transactions are within the
Borrowers’ organizational powers and have been duly authorized by all necessary organizational and,
if required, stockholder action. Each Credit Document has been duly executed and delivered by each
Credit Party party thereto and constitutes a legal, valid and binding obligation of each Credit
Party party thereto, enforceable in accordance with its terms, subject to applicable bankruptcy,
insolvency, reorganization, moratorium or other laws affecting creditors’ rights generally and
subject to general principles of equity, regardless of whether considered in a proceeding in equity
or at law.

          SECTION 3.03. Governmental Approvals; No Conflicts. The Transactions (a) do not
require any consent or approval of, registration or filing with, or any other action by, any
Governmental Authority, except (i) such as have been obtained or made and are in full force and
effect and (ii) any filings required to be made with the Securities and Exchange Commission
promptly following the Effective Date, (b) will not violate any applicable law or regulation or the
charter, by-laws, memorandum or articles of association or other organizational documents of the
Borrower or any of its Subsidiaries or any order of any Governmental Authority, (c) will not
violate or result in a default under any indenture, agreement or other instrument binding upon the
Borrower or any of its Subsidiaries or their respective assets, or give rise to a right thereunder
to require any payment to be made by the Borrower or any of its Subsidiaries, and (d) will not
result in the creation or imposition of any Lien on any asset of the Borrower or any of its
Subsidiaries.

          SECTION 3.04. Financial Condition; No Material Adverse Change. (a) The Borrower has
heretofore furnished to the Lenders its consolidated balance sheet and statements of income,
stockholders equity and cash flows (i) as of and for the fiscal year ended August 31, 2010,
reported on by Ernst & Young LLP, independent public accountants, and (ii) as of and for the fiscal
quarter and the portion of the fiscal year ended November 30, 2010, certified by its

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chief financial officer. Such financial statements present fairly, in all material respects,
the financial position and results of operations and cash flows of the Borrower and its
consolidated Subsidiaries as of such dates and for such periods in accordance with GAAP, subject to
year end audit adjustments and the absence of footnotes in the case of the statements referred to
in clause (ii) above.

          (b) Since August 31, 2010, there has been no material adverse change in the business, assets,
operations, or condition, financial or otherwise, of the Borrower and its Subsidiaries, taken as a
whole.

          SECTION 3.05. Properties. (a) Each of the Borrower and its Subsidiaries has good
title to, or valid leasehold interests in, all its real and personal property material to its
business, except for minor defects in title that do not interfere with its ability to conduct its
business as currently conducted or to utilize such properties for their intended purposes.

          (b) Each of the Borrower and its Subsidiaries owns, or is licensed to use, all trademarks,
tradenames, copyrights, patents and other intellectual property material to its business, and the
use thereof by the Borrower and its Subsidiaries does not infringe upon the rights of any other
Person, except for any such infringements that, individually or in the aggregate, could not
reasonably be expected to result in a Material Adverse Effect.

          SECTION 3.06. Litigation and Environmental Matters. (a) There are no actions, suits
or proceedings by or before any arbitrator or Governmental Authority pending against or, to the
knowledge of the Borrower, threatened against or affecting the Borrower or any of its Subsidiaries
(i) as to which there is a reasonable possibility of an adverse determination and that, if
adversely determined, could reasonably be expected, individually or in the aggregate, to result in
a Material Adverse Effect or (ii) that involve any Credit Document or the Transactions.

          (b) Except with respect to any other matters that, individually or in the aggregate, could
not reasonably be expected to result in a Material Adverse Effect, neither the Borrower nor any of
its Subsidiaries (i) has failed to comply with any Environmental Law or to obtain, maintain or
comply with any permit, license or other approval required under any Environmental Law, (ii) has
become subject to any Environmental Liability, (iii) has received notice of any claim with respect
to any Environmental Liability or (iv) knows of any basis for any Environmental Liability.

          SECTION 3.07. Compliance with Laws and Agreements. Each of the Borrower and its
Subsidiaries is in compliance with: (a) the charter, by-laws, memorandum or articles of association
or other organizational documents applicable to it, (b) all laws, regulations and orders of any
Governmental Authority applicable to it or its property and (c) all indentures, agreements and
other instruments binding upon it or its property, except, in each case, where the failure to do
so, individually or in the aggregate, could not reasonably be expected to result in a Material
Adverse Effect. No Default has occurred and is continuing.

          SECTION 3.08. Investment Company Status. Neither the Borrower nor any of its
Subsidiaries is an “investment company” as defined in, or subject to regulation under, the
Investment Company Act of 1940.

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          SECTION 3.09. Taxes. Each of the Borrower and its Subsidiaries has timely filed or
caused to be filed all Tax returns and reports required to have been filed and has paid or caused
to be paid all Taxes required to have been paid by it, except (a) Taxes that are being contested in
good faith by appropriate proceedings and for which the Borrower or such Subsidiary, as applicable,
has set aside on its books adequate reserves or (b) to the extent that the failure to do so could
not reasonably be expected to result in a Material Adverse Effect.

          SECTION 3.10. ERISA. No ERISA Event has occurred or is reasonably expected to occur
that, when taken together with all other such ERISA Events for which liability is reasonably
expected to occur, could reasonably be expected to result in a Material Adverse Effect. No
liability to the PBGC has been, or is expected by the Borrower or any ERISA Affiliate to be,
incurred with respect to any Plan by the Borrower, any Subsidiary or any ERISA Affiliate which is,
or could reasonably be expected to be, materially adverse to the business, property or assets,
condition (financial or otherwise) or operations of the Borrower and its Subsidiaries taken as a
whole. Neither the Borrower, any Subsidiary nor any ERISA Affiliate has incurred, or presently
expects to incur, any withdrawal liability under Title IV of ERISA with respect to any
Multiemployer Plan which is reasonably expected to be materially adverse to the business, property
or assets, condition (financial or otherwise) or operations of the Borrower and its Subsidiaries
taken as a whole.

          SECTION 3.11. Disclosure. The Borrower has disclosed to the Lenders all agreements,
instruments and corporate or other restrictions to which it or any of its Subsidiaries is subject,
and all other matters known to it, that, individually or in the aggregate, could reasonably be
expected to result in a Material Adverse Effect. Neither the Information Memorandum nor any of the
other reports, financial statements, certificates or other information furnished by or on behalf of
the Borrower to the Administrative Agent or any Lender in connection with the negotiation of this
Agreement or any other Credit Document or delivered hereunder (as modified or supplemented by other
information so furnished) contains any material misstatement of fact or omits to state any material
fact necessary to make the statements therein, in the light of the circumstances under which they
were made, not misleading; provided that, with respect to projected financial information,
the Borrower represents only that such information was prepared in good faith based upon
assumptions believed to be reasonable at the time.

          SECTION 3.12. Foreign Pension Plans. Except to the extent the failure to do so could
not reasonably be expected to have a Material Adverse Effect, (a) each Foreign Pension Plan has
been maintained in compliance with its terms and in compliance with the requirements of any and all
applicable laws, statutes, rules, regulations and orders (including all funding requirements and
the respective requirements of the governing documents for each such Foreign Pension Plan) and has
been maintained, where required, in good standing with applicable regulatory authorities and (b)
all contributions required to be made with respect to a Foreign Pension Plan have been timely made.
Neither the Borrowers nor any Subsidiary has incurred any obligation in connection with the
termination of or withdrawal from any Foreign Pension Plan that could reasonably be expected to
have a Material Adverse Effect. No actions or proceedings have been taken or instituted to
terminate or wind-up a Foreign Pension Plan that could reasonably be expected to have a Material
Adverse Effect.

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          SECTION 3.13. Subsidiaries. As of the Effective Date, the Borrower has no
Subsidiaries other than those Subsidiaries listed on Schedule 3.13. Schedule 3.13
correctly sets forth, as of the Effective Date, the jurisdiction of organization of each
Subsidiary. Schedule 3.13 correctly identifies those Subsidiaries which constitute
Material Subsidiaries as of the Effective Date.

          SECTION 3.14. Environmental Matters. In the ordinary course of its business, the
officers of the Borrower consider the effect of Environmental Laws on the business of the Borrower
and its Subsidiaries, in the course of which they identify and evaluate potential risks and
liabilities accruing to the Borrower due to Environmental Laws. On the basis of this
consideration, the Borrower has concluded that Environmental Laws cannot reasonably be expected to
have a Material Adverse Effect. Neither the Borrower nor any Subsidiary has received any notice to
the effect that its operations are not in material compliance with any of the requirements of
applicable Environmental Laws or are the subject of any federal or state investigation evaluating
whether any remedial action is needed to respond to a release of any toxic or hazardous waste or
substance into the environment, which non-compliance or remedial action could reasonably be
expected to have a Material Adverse Effect.

          SECTION 3.15. Regulation U. Margin stock (as defined in Regulation U of the Board)
constitutes less than 25% of the value of those assets of the Borrower and its Subsidiaries which
are subject to any limitation on sale or pledge or any other restriction hereunder. None of the
making of any Loan or the use of the proceeds thereof, the issuance of any Letter of Credit
hereunder or any other aspect of the Transactions hereunder will violate or be inconsistent with
the provisions of Regulation T, Regulation U or Regulation X of the Board.

          SECTION 3.16. Solvency. On the Effective Date, after giving effect to the
consummation of the Transactions and the payment of all fees, costs and expenses payable by the
Borrower with respect to the Transactions, each of the Borrower and each of its Subsidiaries is
Solvent.

          SECTION 3.17. Labor Relations. Neither the Borrower nor any of its Subsidiaries is
engaged in any unfair labor practice that could reasonably be expected to have a Material Adverse
Effect. There is (a) no significant unfair labor practice complaint pending against the Borrower
or any of its Subsidiaries or, to the best knowledge of the Borrower, threatened against any of
them before the National Labor Relations Board or any similar Governmental Authority in any
jurisdiction, and no significant grievance or significant arbitration proceeding arising out of or
under any collective bargaining agreement is so pending against the Borrower or any of its
Subsidiaries or, to the best knowledge of the Borrower, threatened against any of them, (b) no
significant strike, labor dispute, slowdown or stoppage is pending against the Borrower or any of
its Subsidiaries or, to the best knowledge of the Borrower, threatened against the Borrower or any
of its Subsidiaries and (c) to the best knowledge of the Borrower, no question concerning union
representation exists with respect to the employees of the Borrower or any of its subsidiaries,
except (with respect to any matter specified in clause (a), (b) or (c) above, either individually
or in the aggregate) such as could not reasonably be expected to have a Material Adverse Effect.

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ARTICLE IV

Conditions

          SECTION 4.01. Effective Date. The obligations of the Lenders to make Loans and of
the Issuing Banks to issue Letters of Credit hereunder shall not become effective until the date on
which each of the following conditions is satisfied (or waived in accordance with Section 9.02):

          (a) The Administrative Agent (or its counsel) shall have received from each party hereto
either (i) a counterpart of this Agreement signed on behalf of such party or (ii) written evidence
satisfactory to the Administrative Agent (which may include telecopy transmission of a signed
signature page of this Agreement) that such party has signed a counterpart of this Agreement.

          (b) The Borrowers shall have duly executed and delivered to the Administrative Agent (or its
counsel) a note payable to each Lender that has requested a note in the amount of its respective
Commitment and all other Credit Documents shall have been duly executed and delivered by the
appropriate Credit Party to the Administrative Agent (or its counsel), all of which shall be in
full force and effect.

          (c) The Administrative Agent (or its counsel) shall have received from each Subsidiary
Guarantor a duly executed and delivered Subsidiary Guaranty.

          (d) The Administrative Agent (or its counsel) shall have received from the Borrower a duly
executed and delivered Parent Guaranty.

          (e) The Administrative Agent shall have received a favorable written opinion (addressed to
the Administrative Agent and the Lenders and dated the Effective Date) of (i) Thompson Hine LLP,
counsel for the Borrowers and the Subsidiary Guarantors, and (ii) an opinion of counsel to Robbins
& Myers Finance Europe B.V., as a Subsidiary Borrower, in each case, in form and substance
reasonably satisfactory to the Administrative Agent and covering such other matters relating to
the Borrowers, the Subsidiary Guarantors, this Agreement or the Transactions as the Required
Lenders shall reasonably request. The Borrower hereby requests such counsel to deliver such
opinion.

          (f) The Administrative Agent shall have received such documents and certificates as the
Administrative Agent or its counsel may reasonably request relating to the organization, existence
and good standing of the Borrowers and the Subsidiary Guarantors, the authorization of the
Transactions and any other legal matters relating to the Borrowers, the Subsidiary Guarantors,
this Agreement or the Transactions, all in form and substance satisfactory to the Administrative
Agent and its counsel.

          (g) The Administrative Agent shall have received a certificate, dated the Effective Date and
signed by the President, a Vice President or a Financial Officer of the Borrower, confirming
compliance with the conditions set forth in paragraphs (a) and (b) of Section 4.02.

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          (h) Except as expressly set forth herein with respect to the deemed re-issuance of the
Existing Letters of Credit, the Existing Credit Agreement shall have been terminated, all
principal, interest and other amounts owing thereunder shall be contemporaneously repaid in full
with the proceeds of the Loans made on the Effective Date or otherwise and arrangements
satisfactory to the Administrative Agent shall have been made for the release of all related Liens
thereunder as contemplated by Section 9.16.

          (i) The Administrative Agent, the Lenders and the Lead Arranger shall have received all fees
and other amounts due and payable on or prior to the Effective Date, including, to the extent
invoiced, reimbursement or payment of all out of pocket expenses required to be reimbursed or paid
by the Borrower hereunder.

          (j) The Administrative Agent shall have received copies of all Governmental Authority and
third party approvals necessary or, in the reasonable discretion of the Administrative Agent,
advisable in connection with the Transactions and all other documents reasonably requested by the
Administrative Agent.

The Administrative Agent shall notify the Borrower and the Lenders of the Effective Date, and such
notice shall be conclusive and binding. Notwithstanding the foregoing, the obligations of the
Lenders to make Loans and of the Issuing Banks to issue Letters of Credit hereunder shall not
become effective unless each of the foregoing conditions is satisfied (or waived pursuant to
Section 9.02) at or prior to 3:00 p.m., New York City time, on April 30, 2011 (and, in the event
such conditions are not so satisfied or waived, the Commitments shall terminate at such time).

          SECTION 4.02. Each Credit Event. The obligation of each Lender to make a Loan on the
occasion of any Borrowing, and of each Issuing Bank to issue, amend, renew or extend any Letter of
Credit, is subject to the satisfaction of the following conditions:

          (a) The representations and warranties of the Credit Parties set forth in the Credit
Documents shall be true and correct in all material respects (except that any representation or
warranty which is already qualified as to materiality or by reference to Material Adverse Effect
shall be true and correct in all respects) on and as of the date of such Borrowing or the date of
issuance, amendment, renewal or extension of such Letter of Credit, as applicable (except any such
representation or warranty that expressly relates to or is made expressly as of a specific earlier
date, in which case such representation or warranty shall be true and correct in all material
respects (except that any representation or warranty which is already qualified as to materiality
or by reference to Material Adverse Effect shall be true and correct in all respects) with respect
to or as of such specific earlier date).

          (b) At the time of and immediately after giving effect to such Borrowing or the issuance,
amendment, renewal or extension of such Letter of Credit, as applicable, no Default shall have
occurred and be continuing.

Each Borrowing and each issuance, amendment, renewal or extension of a Letter of Credit shall be
deemed to constitute a representation and warranty by the Borrower on the date thereof as to the
matters specified in paragraphs (a) and (b) of this Section.

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ARTICLE V

Affirmative Covenants

          Until the Commitments have expired or been terminated and the principal of and interest on
each Loan and all fees payable hereunder shall have been paid in full and all Letters of Credit
shall have expired or terminated and all LC Disbursements shall have been reimbursed, the Borrower
covenants and agrees with the Lenders that:

          SECTION 5.01. Financial Statements and Other Information. The Borrower will furnish
to the Administrative Agent and each Lender:

          (a) within 90 days after the end of each fiscal year of the Borrower, its audited
consolidated balance sheet and related statements of operations, stockholders’ equity and cash
flows as of the end of and for such year, setting forth in each case in comparative form the
figures for the previous fiscal year, all reported on by Ernst & Young LLP or other independent
public accountants of recognized national standing (without a “going concern” or like
qualification or exception and without any qualification or exception as to the scope of such
audit) to the effect that such consolidated financial statements present fairly in all material
respects the financial condition and results of operations of the Borrower and its consolidated
Subsidiaries on a consolidated basis in accordance with GAAP consistently applied;

          (b) within 45 days after the end of each of the first three fiscal quarters of each fiscal
year of the Borrower, its consolidated balance sheet and related statements of operations,
stockholders’ equity and cash flows as of the end of and for such fiscal quarter and the then
elapsed portion of the fiscal year, setting forth in each case in comparative form the figures for
the corresponding period or periods of (or, in the case of the balance sheet, as of the end of)
the previous fiscal year, all certified by one of its Financial Officers as presenting fairly in
all material respects the financial condition and results of operations of the Borrower and its
consolidated Subsidiaries on a consolidated basis in accordance with GAAP consistently applied,
subject to normal year-end audit adjustments and the absence of footnotes;

          (c) concurrently with any delivery of financial statements under clause (a) or (b) above, a
certificate of a Financial Officer of the Borrower (i) certifying as to whether a Default has
occurred and, if a Default has occurred, specifying the details thereof and any action taken or
proposed to be taken with respect thereto, (ii) setting forth reasonably detailed calculations
demonstrating compliance with Sections 6.09, 6.10 and 6.11, (iii) setting forth in reasonable
detail all Bank Guarantees outstanding as of the end of applicable fiscal period and the nature
and amount of all collateral securing the same and (iv) stating whether any change in GAAP or in
the application thereof has occurred since the date of the audited financial statements referred
to in Section 3.04 and, if any such change has occurred, specifying the effect of such change on
the financial statements accompanying such certificate;

          (d) promptly after the same become publicly available, copies of all periodic and other
reports, proxy statements and other materials filed by the Borrower or any Subsidiary with the
Securities and Exchange Commission, or any Governmental Authority succeeding to

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any or all of the functions of said Commission, or with any national securities exchange, or
distributed by the Borrower to its shareholders generally, as the case may be;

          (e) promptly upon completion, but in any event not later than 60 days after the commencement
of each fiscal year of the Borrower, a copy of projections by the Borrower of its consolidated
balance sheet and related consolidated statements of operations and cash flows for such fiscal
year (including all material assumptions to such projections) and a budget for such fiscal year,
all in form customarily prepared by the Borrower’s management, such projected financial statements
to be accompanied by a certificate of a Financial Officer to the effect that such projected
financial statements have been prepared in good faith, based on assumptions that the Borrower
believes to be reasonable and based on the best information available to the Borrower and that
such Financial Officer has no reason to believe they are misleading, in any material respect in
light of the circumstances existing at the time of preparation thereof; and

          (f) promptly following any request therefor, such other information regarding the operations,
business affairs and financial condition of the Borrower or any Subsidiary, or compliance with the
terms of this Agreement, as the Administrative Agent or any Lender may reasonably request.

          Information required to be delivered pursuant to this Section 5.01 shall be deemed to have
been delivered if such information, or one or more annual or quarterly reports containing such
information, shall have been posted by the Administrative Agent on an IntraLinks or similar site to
which the Lenders have been granted access or such reports shall be available on the website of the
Securities and Exchange Commission at http://www.sec.gov or on the Borrower’s website at
http://www.robbinsmyers.com and the Borrower has given notice that such reports are so available.
Information required to be delivered pursuant to this Section may also be delivered by electronic
communications pursuant to procedures approved by the Administrative Agent.

          SECTION 5.02. Notices of Material Events. The Borrower will furnish to the Administrative Agent and each Lender prompt written notice of the following:

          (a) the occurrence of any Default;

          (b) the filing or commencement of any action, suit or proceeding by or before any arbitrator or Governmental Authority against or affecting the Borrower or any Affiliate thereof that,
if adversely determined, could reasonably be expected to result in a Material Adverse Effect;

          (c) the occurrence of any ERISA Event that, alone or together with any other ERISA Events that have occurred, could reasonably be expected
to result in liability of the Borrower and its Subsidiaries in an aggregate amount exceeding $10,000,000; and

          (d) any other development that results in, or could reasonably be expected to result in, a Material Adverse Effect.

Each notice delivered under this Section shall be accompanied by a statement of a Financial Officer
or other executive officer of the Borrower setting forth the details of the event or

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development requiring such notice and any action taken or proposed to be taken with respect
thereto.

          SECTION 5.03. Existence; Conduct of Business. The Borrower will, and will cause each
of its Subsidiaries to, do or cause to be done all things necessary to preserve, renew and keep in
full force and effect its legal existence and the rights, licenses, permits, privileges and
franchises material to the conduct of its business; provided that the foregoing shall not
prohibit any merger, consolidation, liquidation or dissolution permitted under Section 6.03.

          SECTION 5.04. Payment of Obligations. The Borrower will, and will cause each of its
Subsidiaries to, pay its obligations, including Tax liabilities, that, if not paid, could result in
a Material Adverse Effect before the same shall become delinquent or in default, except where (a)
the validity or amount thereof is being contested in good faith by appropriate proceedings, (b) the
Borrower or such Subsidiary has set aside on its books adequate reserves with respect thereto in
accordance with GAAP and (c) the failure to make payment pending such contest could not reasonably
be expected to result in a Material Adverse Effect.

          SECTION 5.05. Maintenance of Properties; Insurance. The Borrower will, and will
cause each of its Subsidiaries to, (a) keep and maintain all property material to the conduct of
its business in good working order and condition, ordinary wear and tear excepted, and (b)
maintain, with financially sound and reputable insurance companies, insurance in such amounts and
against such risks as are customarily maintained by companies engaged in the same or similar
businesses operating in the same or similar locations.

          SECTION 5.06. Books and Records; Inspection Rights. The Borrower will, and will
cause each of its Subsidiaries to, keep proper books of record and account in which full, true and
correct entries are made of all dealings and transactions in relation to its business and
activities. The Borrower will, and will cause each of its Subsidiaries to, permit any
representatives designated by the Administrative Agent or any Lender, upon reasonable prior notice,
to visit and inspect its properties, to examine and make extracts from its books and records, and
to discuss its affairs, finances and condition with its officers and independent accountants, all
at such reasonable times and as often as reasonably requested.

          SECTION 5.07. Compliance with Laws. The Borrower will, and will cause each of its
Subsidiaries to, comply with all laws, rules, regulations and orders of any Governmental Authority
applicable to it or its property, except where the failure to do so, individually or in the
aggregate, could not reasonably be expected to result in a Material Adverse Effect.

          SECTION 5.08. Use of Proceeds and Letters of Credit. The proceeds of the Loans will
be used only for general corporate purposes of the Borrower and its Subsidiaries, including the
refinancing of the Existing Credit Agreement. No part of the proceeds of any Loan will be used,
whether directly or indirectly, for any purpose that entails a violation of any of the Regulations
of the Board, including Regulations T, U and X. Letters of Credit will be issued only to support
general corporate purposes.

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          SECTION 5.09. Additional Subsidiary Guarantors.

          (a) Effective upon any Domestic Subsidiary which is not a Material Subsidiary on the date
hereof (either because it is not a Domestic Subsidiary on the date hereof or because it does not
on the date hereof meet the criteria for a Material Subsidiary) becoming a Material Subsidiary,
the Borrower shall cause such Domestic Subsidiary to, within ten (10) Business Days (or such
longer period to which the Administrative Agent may agree), execute and deliver to the
Administrative Agent for the benefit of the Guaranteed Parties a joinder to the Subsidiary
Guaranty together with a legal opinion and such related certificates and corporate documents as
the Administrative Agent may reasonably request. The Borrower shall promptly notify the
Administrative Agent at any time at which any Domestic Subsidiary becomes a Material Subsidiary.

          (b) If at any time the then existing Material Subsidiaries (i) have assets with an aggregate
book value equal to less than 85% of the aggregate book value of the assets of all Domestic
Subsidiaries at such time or (ii) generated less than 85% of the total revenue of all Domestic
Subsidiaries over the four fiscal quarter period most recently ended prior to such time, then the
Borrower shall promptly designate in writing to the Administrative Agent one or more additional
Domestic Subsidiaries as “Material Subsidiaries” and cause such additional Domestic Subsidiary or
Domestic Subsidiaries, as applicable, to, within ten (10) Business Days (or such longer period to
which the Administrative Agent may agree), execute and deliver to the Administrative Agent for the
benefit of the Guaranteed Parties a joinder to the Subsidiary Guaranty together with a legal
opinion and such related certificates and corporate documents as the Administrative Agent may
reasonably request such that the foregoing minimum asset and/or total revenue tests, after giving
effect to such designation, would have been satisfied.

ARTICLE VI

Negative Covenants

          Until the Commitments have expired or been terminated and the principal of and interest on
each Loan and all fees payable hereunder have been paid in full and all Letters of Credit have
expired or terminated and all LC Disbursements shall have been reimbursed, the Borrower covenants
and agrees with the Lenders that:

          SECTION 6.01. Indebtedness. The Borrower will not, and will not permit any
Subsidiary to, create, incur, assume or permit to exist any Indebtedness, except:

          (a) Indebtedness created under the Credit Documents;

          (b) Indebtedness existing on the date hereof and set forth in Schedule 6.01, and
extensions, renewals and replacements of any such Indebtedness that do not increase the
outstanding principal amount thereof;

          (c) Intercompany Indebtedness existing on the date hereof that is set forth on Schedule
6.01, or arising thereafter; provided, that all Intercompany Indebtedness existing on
the date hereof is listed on Schedule 6.01;

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          (d) Indebtedness for borrowed money of Foreign Subsidiaries to unrelated third parties
(including Guarantees with respect thereto by the Borrower or any other Subsidiaries, so long as
such Guarantees are unsecured) that does not exceed $40,000,000 in an aggregate principal amount
outstanding at any time;

          (e) Indebtedness of the Borrower or any Wholly-Owned Subsidiary that is a Domestic Subsidiary
to Foreign Subsidiaries; provided, that such Indebtedness is unsecured and is created and
outstanding under an agreement or instrument pursuant to which such Indebtedness is subordinated
to the Credit Document obligations on terms and conditions satisfactory to the Administrative
Agent;

          (f) Indebtedness owed to any person providing worker’s compensation, health, disability or
other employee benefits, property, casualty or liability insurance to the Borrower or any
Subsidiary, so long as such Indebtedness shall not be in excess of the amount of the unpaid cost
or estimated or negotiated amounts of, and shall be incurred only to defer the cost or estimated
or negotiated amounts of, such insurance for the applicable insurance period for which such
Indebtedness is incurred and such Indebtedness shall be outstanding only during such period;

          (g) Guarantees by the Borrower of Indebtedness of any Domestic Subsidiary and by any
Subsidiary of Indebtedness of the Borrower or any Domestic Subsidiary, in each case, to the extent
the guaranteed Indebtedness is permitted pursuant to this Section 6.01;

          (h) Indebtedness of the Borrower or any Subsidiary incurred to finance the acquisition,
construction or improvement of any fixed or capital assets, including Capital Lease Obligations
and any Indebtedness assumed in connection with the acquisition of any such assets or secured by a
Lien on any such assets prior to the acquisition thereof, and extensions, renewals and
replacements of any such Indebtedness that do not increase the outstanding principal amount
thereof; provided that such Indebtedness is incurred prior to or within 90 days after such
acquisition or the completion of such construction or improvement;

          (i) Indebtedness under Swap Agreements permitted by Section 6.05;

          (j) Indebtedness from one Wholly-Owned Foreign Subsidiary to another Wholly-Owned Foreign
Subsidiary; provided, that such Indebtedness (i) is incurred in good faith, in the
ordinary course of business, and for a legitimate company purpose, (ii) is unsecured and (iii) is,
by its terms, not assignable, transferable, sellable, or otherwise pledgeable to any third party;

          (k) Indebtedness of Foreign Subsidiaries (other than Wholly-Owned Foreign Subsidiaries) to
Wholly-Owned Foreign Subsidiaries; provided, that such Indebtedness (i) is incurred in
good faith, in the ordinary course of business, and for a legitimate company purpose, (ii) is
unsecured and (iii) is, by its terms, not assignable, transferable, sellable, or otherwise
pledgeable to any third party;

          (l) Indebtedness of the Borrower or any of its Subsidiaries incurred in connection with the
issuance of Bank Guarantees; provided, that the aggregate principal Dollar Equivalent of
such Bank Guarantees does not exceed $30,000,000 at any one time;

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          (m) Indebtedness of the Borrower or any Subsidiary as an account party in respect of trade
letters of credit in the ordinary course of business; and

          (n) other unsecured Indebtedness of the Borrower or any Subsidiary so long as, both before
and after giving effect to the incurrence of such Indebtedness, the Borrower is in pro forma
compliance with Section 6.10.

          SECTION 6.02. Liens. The Borrower will not, and will not permit any Subsidiary to,
create, incur, assume or permit to exist any Lien on any property or asset now owned or hereafter
acquired by it, or assign or sell any income or revenues (including accounts receivable) or rights
in respect of any thereof, except:

          (a) Permitted Encumbrances;

          (b) any Lien on any property or asset of the Borrower or any Subsidiary existing on the date
hereof and set forth in Schedule 6.02; provided that (i) such Lien shall not apply
to any other property or asset of the Borrower or any Subsidiary and (ii) such Lien shall secure
only those obligations which it secures on the date hereof and extensions, renewals and
replacements thereof that do not increase the outstanding principal amount thereof;

          (c) any Lien existing on any property or asset prior to the acquisition thereof by the
Borrower or any Subsidiary or existing on any property or asset of any Person that becomes a
Subsidiary after the date hereof prior to the time such Person becomes a Subsidiary;
provided that (i) such Lien is not created in contemplation of or in connection with such
acquisition or such Person becoming a Subsidiary, as the case may be, (ii) such Lien shall not
apply to any other property or assets of the Borrower or any Subsidiary and (iii) such Lien shall
secure only those obligations which it secures on the date of such acquisition or the date such
Person becomes a Subsidiary, as the case may be and extensions, renewals and replacements thereof
that do not increase the outstanding principal amount thereof;

          (d) Liens on fixed or capital assets acquired, constructed or improved by the Borrower or any
Subsidiary; provided that (i) such security interests secure Indebtedness permitted by
clause (e) of Section 6.01, (ii) such security interests and the Indebtedness secured thereby are
incurred prior to or within 90 days after such acquisition or the completion of such construction
or improvement, (iii) the Indebtedness secured thereby does not exceed 100% of the cost of
acquiring, constructing or improving such fixed or capital assets and (iv) such security interests
shall not apply to any other property or assets of the Borrower or any Subsidiary;

          (e) Liens on assets of Foreign Subsidiaries securing Indebtedness or guarantees permitted
under Section 6.01(d); and

          (f) other Liens securing Indebtedness at no time exceeding $5,000,000 in aggregate principal
amount.

          SECTION 6.03. Fundamental Changes. (a) The Borrower will not, and will not permit
any Subsidiary to, merge into or consolidate with any other Person, or permit any other Person to
merge into or consolidate with it, or liquidate or dissolve, except that, if at the time

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thereof and immediately after giving effect thereto no Default shall have occurred and be
continuing (i) any Person may merge into the Borrower in a transaction in which the Borrower is the
surviving corporation, (ii) any Person may merge with or into any Subsidiary in a transaction in
which the surviving entity is a Subsidiary (and, if either such Subsidiary is a Subsidiary
Guarantor, then the surviving entity shall also be a Subsidiary Guarantor) and (iii) any Subsidiary
may liquidate or dissolve if the Borrower determines in good faith that such liquidation or
dissolution is in the best interests of the Borrower and could not reasonably be expected to have a
Material Adverse Effect; provided that any such merger involving a Person that is not a
Wholly-Owned Subsidiary immediately prior to such merger shall not be permitted unless also
permitted by Section 6.04.

          (b) The Borrower will not, nor will it permit any Subsidiary to, make any Asset Disposition
except for (i) Asset Dispositions among the Borrower and one or more Domestic Subsidiaries
(subject to compliance with Section 5.09), among Domestic Subsidiaries (subject to compliance with
Section 5.09) or among Foreign Subsidiaries (other than any Subsidiary Borrowers), (ii) Asset
Dispositions by Foreign Subsidiaries (other than any Subsidiary Borrower) to the Borrower or any
Subsidiary, (iii) Asset Dispositions expressly permitted by Sections 6.04, 6.06 or 6.07, (iv)
Romaco Sales, (v) the disposition of assets in Sale and Leaseback Transactions permitted by
Section 6.11 to the extent the aggregate Net Cash Proceeds thereof do not exceed $30,000,000 and
(vi) other Asset Dispositions of property that, together with all other property of the Borrower
and its Subsidiaries previously leased, sold or disposed of in Asset Dispositions made pursuant to
this Section 6.03(b)(vi) during the twelve-month period ending with the month in which any such
lease, sale or other disposition occurs, do not constitute a Substantial Portion of the property
of the Borrower and its Subsidiaries.

          (c) The Borrower will not, and will not permit any of its Subsidiaries to, engage to any
material extent in any business other than businesses of the type conducted by the Borrower and
its Subsidiaries on the date of execution of this Agreement and businesses reasonably related
thereto. The Borrower will not permit any Subsidiary Borrower to cease to be a Wholly-Owned
Subsidiary.

          SECTION 6.04. Investments, Loans, Advances, Guarantees and Acquisitions. The
Borrower will not, and will not permit any of its Subsidiaries to, purchase, hold or acquire
(including pursuant to any merger with any Person that was not a Wholly-Owned Subsidiary prior to
such merger) any Equity Interests, evidences of indebtedness or other securities (including any
option, warrant or other right to acquire any of the foregoing) of, make or permit to exist any
loans or advances to, Guarantee any obligations of, or make or permit to exist any investment or
any other interest in, any other Person, or purchase or otherwise acquire (in one transaction or a
series of transactions) any assets of any other Person constituting a business unit, except:

          (a) Permitted Investments;

          (b) (i) equity investments existing on the date hereof by the Borrower in the Subsidiaries
listed on Schedule 6.04, (ii) contributions of equity made after the date hereof to
Wholly-Owned Subsidiaries that are Domestic Subsidiaries, (iii) contributions of equity made

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after the date hereof to (A) Subsidiaries of the Borrower and (B) entities that are organized
under the laws of the United States of America, any state thereof or the District of Columbia that
are not Controlled by the Borrower that do not (together with investments made pursuant to Section
6.04(l)) exceed the aggregate principal amount of $30,000,000 during any fiscal year of the
Borrower; provided that contributions of equity made in accordance with clause (b)(iii)(B)
hereof shall not exceed $5,000,000 during any fiscal year of the Borrower, and (iv) treasury stock
held by the Borrower and its Subsidiaries on the date hereof or acquired by the Borrower or a
Subsidiary as permitted pursuant to Section 6.06;

          (c) loans and advances made after the date hereof by the Borrower or any Wholly-Owned
Subsidiary to any Subsidiary or the Borrower; provided, that any such loan or advance is
otherwise permitted pursuant to Section 6.01(c);

          (d) trade accounts receivable (and related notes and instruments) arising in the ordinary
course of business consistent with past practices;

          (e) (i) advances to employees for home-swing loans and moving and travel expenses in the
ordinary course of business consistent with past practices, and guarantees by the Borrower in
connection with home-swing loans of third parties to employees and (ii) loans to executive
officers of the Borrower to assist in the payment of taxes resulting from an election made under
Section 83(b) of the Code;

          (f) securities held by the Borrower or any of the Subsidiaries prior to the date hereof and
listed in Schedule 6.04;

          (g) in connection with one or more non-hostile acquisitions by the Borrower or any Restricted
Subsidiary, any assets or Equity Interests (other than Margin Stock) of any other Person (such
assets, in the case of an asset acquisition, or Person, in the case of the acquisition of Equity
Interests, is referred to herein as the “Acquired Entity”) so long as (A) in the case of
an acquisition of assets, such assets are to be used, and in the case of an acquisition of Equity
Interests, the Person so acquired is engaged, in a business substantially similar or related to
the businesses of the Borrower on the date hereof, (B) the Borrower shall have provided the
Lenders with such information as the Lenders shall reasonably request, (C) on the date of such
acquisition and immediately after giving effect thereto, the representations and warranties set
forth in Article III hereof shall be true and correct in all material respects with the same
effect as though made on and as of such date and no Default or Event of Default shall exist, (D)
after giving effect to such Permitted Acquisition (as defined below), the Borrower shall have
delivered to the Administrative Agent calculations satisfactory to the Administrative Agent
demonstrating that on a pro forma basis the Borrower is in compliance with Sections 6.09 and 6.10,
(E) in the case of an acquisition of Equity Interests of a Person, the Borrower acquires directly
or indirectly 100% of the Equity Interests of such Person; and (F) if immediately prior, and after
giving effect, to such acquisition the Consolidated Leverage Ratio is greater than 3.00 to 1.00,
the total aggregate consideration for all such acquisitions in any fiscal year of the Borrower
shall not exceed $75,000,000 (such consideration to include, without limitation, the amount of
Indebtedness incurred pursuant thereto as permitted by Section 6.01(k)) (any acquisition
satisfying each of the criteria set forth in the preceding clauses (A) through (F) being referred
to herein as a “Permitted Acquisition”);

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          (h) Guarantees constituting Indebtedness permitted by Section 6.01;

          (i) loans and advances made after the date hereof by (i) any Foreign Subsidiaries to the
Borrower or any Wholly-Owned Subsidiary that is a Domestic Subsidiary that are permitted pursuant
to Section 6.01(e) and (ii) any Wholly-Owned Foreign Subsidiary to another Wholly-Owned Foreign
Subsidiary;

          (j) loans to any Affiliate of the Borrower or its Subsidiaries; provided, that such
loans do not exceed an aggregate principal amount equal to $5,000,000 at any one time outstanding;

          (k) a contribution of assets to any Subsidiary Borrower or any Wholly-Owned Subsidiary that
is a Domestic Subsidiary to the extent permitted by Section 6.03(b); and

          (l) other loans, investments and Guarantees which do not in aggregate principal amount at any
time exceed $30,000,000.

          SECTION 6.05. Swap Agreements. The Borrower will not, and will not permit any of its
Subsidiaries to, enter into any Swap Agreement, except (a) Swap Agreements entered into to hedge or
mitigate risks to which the Borrower or any Subsidiary has actual exposure (other than those in
respect of Equity Interests of the Borrower or any of its Subsidiaries), and (b) Swap Agreements
entered into in order to effectively cap, collar or exchange interest rates (from fixed to floating
rates, from one floating rate to another floating rate or otherwise) with respect to any
interest-bearing liability or investment of the Borrower or any Subsidiary.

          SECTION 6.06. Restricted Payments. The Borrower will not, and will not permit any of
its Subsidiaries to, declare, pay or make, or agree to declare, pay or make, directly or
indirectly, any Restricted Payment, except (a) the Borrower may declare and pay dividends with
respect to its Equity Interests payable solely in additional shares of its common stock, (b) any
Subsidiary may declare and pay dividends or make other distributions to the Borrower or any
Wholly-Owned Subsidiary, or, in an amount not to exceed $5,000,000 in each fiscal year, to any
other Person, (c) the Borrower may make Restricted Payments pursuant to and in accordance with
stock option plans or other benefit plans for management or employees of the Borrower and its
Subsidiaries and (d) the Borrower may (i) purchase or redeem Equity Interests of the Borrower
and/or (ii) pay cash dividends to the holders of its Equity Interests so long as, in either case,
(x) no Default has occurred and is continuing on the date of such purchase, redemption or payment
and (y) if immediately prior to, and after giving effect to, payment of such dividends the
Consolidated Leverage Ratio is greater than 2.75 to 1.00, the aggregate amount of all such
purchases, redemptions and payments in the Fiscal Year in which such purchase, redemption or
payment occurs do not exceed $25,000,000.

          SECTION 6.07. Transactions with Affiliates. The Borrower will not, and will not
permit any of its Subsidiaries to, sell, lease or otherwise transfer any property or assets to, or
purchase, lease or otherwise acquire any property or assets from, or otherwise engage in any other
transactions with, any of its Affiliates, except (a) in the ordinary course of business at prices
and on terms and conditions not less favorable to the Borrower or such Subsidiary than could be
obtained on an arm’s-length basis from unrelated third parties, (b) transactions

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between or among Credit Parties and other Subsidiaries not involving any other Affiliate, (c)
any transaction permitted by Section 6.04 and (d) Restricted Payment permitted by Section 6.06.
Notwithstanding the foregoing, the Borrower and the Subsidiaries may engage in transactions on a
non-arm’s-length basis in connection with “beachhead” pricing in new markets as long as such
transactions are permitted by the rules and regulations regarding international transfer pricing
set forth in the Code.

          SECTION 6.08. Restrictive Agreements. The Borrower will not, and will not permit any
of its Subsidiaries to, directly or indirectly, enter into, incur or permit to exist any agreement
or other arrangement within the control of the Borrower or any of its Subsidiaries that prohibits,
restricts or imposes any condition upon (a) the ability of the Borrower or any Subsidiary to
create, incur or permit to exist any Lien upon any of its property or assets, or (b) the ability of
any Subsidiary to pay dividends or other distributions with respect to any shares of its Equity
Interests or to make or repay loans or advances to the Borrower or any other Subsidiary or to
Guarantee Indebtedness of the Borrower or any other Subsidiary; provided that (i) the
foregoing shall not apply to restrictions and conditions imposed by law or by this Agreement, (ii)
the foregoing shall not apply to restrictions and conditions existing on the date hereof identified
on Schedule 6.08 (but shall apply to any extension or renewal of, or any amendment or
modification expanding the scope of, any such restriction or condition), (iii) the foregoing shall
not apply to customary restrictions and conditions contained in agreements relating to the sale of
a Subsidiary pending such sale, provided that such restrictions and conditions apply only
to the Subsidiary that is to be sold and such sale is permitted hereunder, (iv) clause (a) of the
foregoing shall not apply to restrictions or conditions imposed by any agreement relating to
secured Indebtedness permitted by this Agreement if such restrictions or conditions apply only to
the property or assets securing such Indebtedness and (v) clause (a) of the foregoing shall not
apply to customary provisions in leases and other contracts restricting the assignment thereof.

          SECTION 6.09. Minimum Consolidated Interest Coverage Ratio. The Borrower will not
permit the Consolidated Interest Coverage Ratio as of the end of any fiscal quarter of the Borrower
to be less than 3.00 to 1.00.

          SECTION 6.10. Maximum Consolidated Leverage Ratio. The Borrower will not permit the
Consolidated Leverage Ratio as of the end of any fiscal quarter of the Borrower to exceed 3.25 to
1.00.

          SECTION 6.11. Sale and Leaseback Transactions. The Borrower will not, nor will it
permit any Subsidiary to, enter into or suffer to exist any Sale and Leaseback Transaction to the
extent the aggregate net sale proceeds thereof exceed $30,000,000 after the date hereof.

          SECTION 6.12. Amendment of Organizational Documents. The Borrower will not, and will
not cause or permit any of the Subsidiaries to, enter into any amendment, modification or waiver of
the certificate of incorporation or by-laws or comparable governing instruments of the Borrower or
any of the Subsidiaries as in effect on the date hereof, other than amendments, modifications and
waivers which are not, individually or in the aggregate, adverse in any material respect to the
rights or interests of the Lenders.

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ARTICLE VII

Events of Default

          If any of the following events (“Events of Default”) shall occur:

          (a) any of the Borrowers shall fail to pay any principal of any Loan or any reimbursement
obligation in respect of any LC Disbursement or any cash collateral amount due pursuant to Section
2.06(j) when and as the same shall become due and payable, whether at the due date thereof or at a
date fixed for prepayment thereof or otherwise;

          (b) any of the Borrowers shall fail to pay any interest on any Loan or any fee or any other
amount (other than an amount referred to in clause (a) of this Article) payable under this
Agreement, when and as the same shall become due and payable, and such failure shall continue
unremedied for a period of three Business Days;

          (c) any representation or warranty made or deemed made by or on behalf of the Borrower or any
Subsidiary in or in connection with this Agreement or any other Credit Document or any amendment
or modification hereof or thereof or waiver hereunder or thereunder, or in any report,
certificate, financial statement or other document furnished pursuant to or in connection with
this Agreement or any amendment or modification hereof or waiver hereunder, shall prove to have
been incorrect in any material respect when made or deemed made;

          (d) the Borrower shall fail to observe or perform any covenant, condition or agreement
contained in Section 5.02, 5.03 (with respect to the Borrower’s existence) or 5.08 or in Article
VI;

          (e) the Borrower shall fail to observe or perform any covenant, condition or agreement
contained in this Agreement (other than those specified in clause (a), (b) or (d) of this
Article), and such failure shall continue unremedied for a period of 30 days after notice thereof
from the Administrative Agent to the Borrower (which notice will be given at the request of any
Lender);

          (f) the Borrower or any Subsidiary shall fail to make any payment (whether of principal or
interest and regardless of amount) in respect of any Material Indebtedness, when and as the same
shall become due and payable;

          (g) any event or condition occurs that results in any Material Indebtedness becoming due
prior to its scheduled maturity or that enables or permits (with or without the giving of notice,
the lapse of time or both) the holder or holders of any Material Indebtedness or any trustee or
agent on its or their behalf to cause any Material Indebtedness to become due, or to require the
prepayment, repurchase, redemption or defeasance thereof, prior to its scheduled maturity;
provided that this clause (g) shall not apply to secured Indebtedness that becomes due as
a result of the voluntary sale or transfer of the property or assets securing such Indebtedness;

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          (h) an involuntary proceeding shall be commenced or an involuntary petition shall be filed
seeking (i) liquidation, winding-up, administration, reorganization or other relief in respect of
the Borrower or any Subsidiary or its debts, or of a substantial part of its assets, under any
Federal, state or foreign bankruptcy, insolvency, administration, receivership or similar law now
or hereafter in effect or (ii) the appointment of a liquidator, receiver, trustee, custodian,
sequestrator, conservator, administrator, administrative receiver or similar official for the
Borrower or any Subsidiary or for a substantial part of its assets, and, in any such case, such
proceeding or petition shall continue undismissed for 60 days or an order or decree approving or
ordering any of the foregoing shall be entered;

          (i) the Borrower or any Subsidiary shall (i) voluntarily commence any proceeding or file any
petition seeking liquidation, winding-up, administration, reorganization or other relief under any
Federal, state or foreign bankruptcy, insolvency, receivership or similar law now or hereafter in
effect, (ii) consent to the institution of, or fail to contest in a timely and appropriate manner,
any proceeding or petition described in clause (h) of this Article, (iii) apply for or consent to
the appointment of a liquidator, receiver, trustee, custodian, sequestrator, conservator,
administrator or similar official for the Borrower or any Subsidiary or for a substantial part of
its assets, (iv) file an answer admitting the material allegations of a petition filed against it
in any such proceeding, (v) make a general assignment for the benefit of creditors or (vi) take
any action for the purpose of effecting any of the foregoing;

          (j) the Borrower or any Subsidiary shall become unable, admit in writing its inability or
fail generally to pay its debts as they become due;

          (k) one or more judgments for the payment of money in an aggregate amount in excess of
$10,000,000 shall be rendered against the Borrower, any Subsidiary or any combination thereof and
the same shall remain undischarged for a period of 30 consecutive days during which execution
shall not be effectively stayed, or any action shall be legally taken by a judgment creditor to
attach or levy upon any assets of the Borrower or any Subsidiary to enforce any such judgment;

          (l) an ERISA Event or circumstance in respect of any Foreign Pension Plan shall have occurred
that, in the opinion of the Required Lenders, when taken together with all other ERISA Events and
such circumstances that have occurred, could reasonably be expected to result in a Material
Adverse Effect;

          (m) a Change in Control shall occur; or

          (n) except as a result of a transaction permitted by Section 6.03(a) or (b) or as
contemplated by the penultimate paragraph of Article VIII, the Parent Guaranty, the Subsidiary
Guaranty or any other Guarantees provided pursuant hereto or any provisions of any of the
foregoing shall cease to be in full force or effect as to the Borrower or any Subsidiary
Guarantor, or the Borrower, any Subsidiary Guarantor or any Person acting for or on behalf of the
Borrower or any Subsidiary Guarantor shall deny or disaffirm the Borrower’s or such Subsidiary
Guarantor’s obligations under any of the foregoing;

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then, and in every such event (other than an event with respect to any Credit Party described in
clause (h) or (i) of this Article), and at any time thereafter during the continuance of such
event, the Administrative Agent may, and at the request of the Required Lenders shall, by notice to
the Borrower, take either or both of the following actions, at the same or different times: (i)
terminate the Commitments, and thereupon the Commitments shall terminate immediately, and (ii)
declare the Loans then outstanding to be due and payable in whole (or in part, in which case any
principal not so declared to be due and payable may thereafter be declared to be due and payable),
and thereupon the principal of the Loans so declared to be due and payable, together with accrued
interest thereon and all fees and other obligations of the Borrowers accrued hereunder, shall
become due and payable immediately, without presentment, demand, protest or other notice of any
kind, all of which are hereby waived by the Borrowers; and in case of any event with respect to any
Credit Party described in clause (h) or (i) of this Article, the Commitments shall automatically
terminate and the principal of the Loans then outstanding, together with accrued interest thereon
and all fees and other obligations of the Borrowers accrued hereunder, shall automatically become
due and payable, without presentment, demand, protest or other notice of any kind, all of which are
hereby waived by the Borrowers.

ARTICLE VIII

The Administrative Agent

          Each of the Lenders and Issuing Banks hereby irrevocably appoints the Administrative Agent as
its agent and authorizes the Administrative Agent to take such actions on its behalf and to
exercise such powers as are delegated to the Administrative Agent by the terms hereof, together
with such actions and powers as are reasonably incidental thereto.

          The bank serving as the Administrative Agent hereunder shall have the same rights and powers
in its capacity as a Lender as any other Lender and may exercise the same as though it were not the
Administrative Agent, and such bank and its Affiliates may accept deposits from, lend money to and
generally engage in any kind of business with the Borrower or any Subsidiary or other Affiliate
thereof as if it were not the Administrative Agent hereunder.

          The Administrative Agent shall not have any duties or obligations except those expressly set
forth herein. Without limiting the generality of the foregoing, (a) the Administrative Agent shall
not be subject to any fiduciary or other implied duties, regardless of whether a Default has
occurred and is continuing, (b) the Administrative Agent shall not have any duty to take any
discretionary action or exercise any discretionary powers, except discretionary rights and powers
expressly contemplated hereby that the Administrative Agent is required to exercise in writing as
directed by the Required Lenders (or such other number or percentage of the Lenders as shall be
necessary under the circumstances as provided in Section 9.02), and (c) except as expressly set
forth herein, the Administrative Agent shall not have any duty to disclose, and shall not be liable
for the failure to disclose, any information relating to the Borrower or any of its Subsidiaries
that is communicated to or obtained by the bank serving as Administrative Agent or any of its
Affiliates in any capacity. The Administrative Agent shall not be liable for any action taken or
not taken by it with the consent or at the request of the Required Lenders (or such other number or
percentage of the Lenders as shall be necessary under the circumstances as provided in Section
9.02) or in the absence of its own gross negligence or

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willful misconduct. The Administrative Agent shall be deemed not to have knowledge of any
Default unless and until written notice thereof is given to the Administrative Agent by the
Borrower or a Lender, and the Administrative Agent shall not be responsible for or have any duty to
ascertain or inquire into (i) any statement, warranty or representation made in or in connection
with this Agreement, (ii) the contents of any certificate, report or other document delivered
hereunder or in connection herewith, (iii) the performance or observance of any of the covenants,
agreements or other terms or conditions set forth herein, (iv) the validity, enforceability,
effectiveness or genuineness of this Agreement or any other agreement, instrument or document, or
(v) the satisfaction of any condition set forth in Article IV or elsewhere herein, other than to
confirm receipt of items expressly required to be delivered to the Administrative Agent.

          The Administrative Agent shall be entitled to rely upon, and shall not incur any liability for
relying upon, any notice, request, certificate, consent, statement, instrument, document or other
writing believed by it to be genuine and to have been signed or sent by the proper Person. The
Administrative Agent also may rely upon any statement made to it orally or by telephone and
believed by it to be made by the proper Person, and shall not incur any liability for relying
thereon. The Administrative Agent may consult with legal counsel (who may be counsel for the
Borrower), independent accountants and other experts selected by it, and shall not be liable for
any action taken or not taken by it in accordance with the advice of any such counsel, accountants
or experts.

          The Administrative Agent may perform any and all its duties and exercise its rights and powers
by or through any one or more sub-agents appointed by the Administrative Agent. The Administrative
Agent and any such sub-agent may perform any and all its duties and exercise its rights and powers
through their respective Related Parties. The exculpatory provisions of the preceding paragraphs
shall apply to any such sub-agent and to the Related Parties of the Administrative Agent and any
such sub-agent, and shall apply to their respective activities in connection with the syndication
of the credit facilities provided for herein as well as activities as Administrative Agent.

          Subject to the appointment and acceptance of a successor Administrative Agent as provided in
this paragraph, the Administrative Agent may resign at any time by notifying the Lenders, the
Issuing Banks and the Borrower. Upon any such resignation, the Required Lenders shall have the
right, in consultation with the Borrower, to appoint a successor. If no successor shall have been
so appointed by the Required Lenders and shall have accepted such appointment within 30 days after
the retiring Administrative Agent gives notice of its resignation, then the retiring Administrative
Agent may, on behalf of the Lenders and the Issuing Banks, appoint a successor Administrative Agent
which shall be a bank with an office in New York, New York, or an Affiliate of any such bank. Upon
the acceptance of its appointment as Administrative Agent hereunder by a successor, such successor
shall succeed to and become vested with all the rights, powers, privileges and duties of the
retiring Administrative Agent, and the retiring Administrative Agent shall be discharged from its
duties and obligations hereunder. The fees payable by the Borrower to a successor Administrative
Agent shall be the same as those payable to its predecessor unless otherwise agreed between the
Borrower and such successor. After the Administrative Agent’s resignation hereunder, the
provisions of this Article and Section 9.03 shall continue in effect for the benefit of such
retiring Administrative Agent, its sub agents and

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their respective Related Parties in respect of any actions taken or omitted to be taken by any
of them while it was acting as Administrative Agent.

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

          The Administrative Agent shall be permitted from time to time to designate one of its
Affiliates (and hereby designates J.P. Morgan Europe Limited) to perform the duties to be performed
by the Administrative Agent hereunder with respect to Loans and Borrowings denominated in Foreign
Currencies. The provisions of this Article VIII shall apply to any such Affiliate mutatis
mutandis.

          If all of the Equity Interests held by the Borrower and its Subsidiaries in any Subsidiary
Guarantor are sold or transferred in a transaction permitted hereunder (other than to the Borrower
or to a Subsidiary thereof) at a time when the Borrower has certified to the Administrative Agent
in writing that no Default has occurred and is continuing, such Subsidiary Guarantor and its
subsidiaries shall be released from the Subsidiary Guaranty upon the consummation of such
transaction and the Administrative Agent is authorized and directed to take any actions deemed
appropriate in order to effect the foregoing.

          No Lender identified in this Agreement as a “Co-Syndication Agent” shall have any right,
power, obligation, liability, responsibility or duty under this Agreement other than those
applicable to all Lenders as such. Without limiting the foregoing, none of such Lenders shall have
or be deemed to have a fiduciary relationship with any Lender. Each Lender hereby makes the same
acknowledgments with respect to such Lenders as it makes with respect to the Administrative Agent
in the preceding paragraph.

ARTICLE IX

Miscellaneous

          SECTION 9.01. Notices. (a) Except in the case of notices and other communications
expressly permitted to be given by telephone (and subject to paragraph (b) below), all notices and
other communications provided for herein shall be in writing and shall be delivered by hand or
overnight courier service, mailed by certified or registered mail or sent by telecopy, as follows:

     (i) if to the Borrower or any Subsidiary Borrower, to it at Robbins & Myers, Inc., 51
Plum Street, Suite 260, Dayton, Ohio 45440, Attention of Christopher M. Hix (Telecopy No.
(937) 458-6655), with a copy to Thompson Hine LLP, 2000 Courthouse

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Plaza, N.E., P.O. Box 8801, Dayton, Ohio, 45401-8801, Attention of David A. Neuhardt,
Esq. (Telecopy No. (937) 443-6635);

     (ii) if to the Administrative Agent, to JPMorgan Chase Bank, N.A., Loan and Agency
Services Group, 10 South Dearborn, Floor 7, Chicago, Illinois 60603, Attention of Darren
Cunningham (Telecopy No. (888) 292-9533);

     (iii) if to the Administrative Agent for Eurocurrency Loans in Foreign Currencies, to
J.P. Morgan Europe Limited, 125 London Wall, London EC2Y 5AJ, Attention of Ching Loh/The
Manager, Telecopy No. +44(0) 207 777 2360);

     (iv) if to JPMCB in its capacity as Issuing Bank, to it at 10 South Dearborn, Floor 7,
Chicago, Illinois 60603, Attention of Cassandra Groves (Telecopy No. (312) 732-2729);

     (v) if to the Swingline Lender, to it at 10 South Dearborn, Floor 7, Chicago, Illinois
60603, Attention of Darren Cunningham (Telecopy No. (888) 292-9533); and

     (vi) if to any other Lender, to it at its address (or telecopy number) set forth in its
Administrative Questionnaire.

          (b) Notices and other communications to the Lenders hereunder may be delivered or furnished
by electronic communications pursuant to procedures approved by the Administrative Agent;
provided that the foregoing shall not apply to notices pursuant to Article II unless
otherwise agreed by the Administrative Agent and the applicable Lender. The Administrative Agent
or the Borrower may, in its discretion, agree to accept notices and other communications to it
hereunder by electronic communications pursuant to procedures approved by it; provided
that approval of such procedures may be limited to particular notices or communications.

          (c) Any party hereto may change its address or telecopy number for notices and other
communications hereunder by notice to the other parties hereto. All notices and other
communications given to any party hereto in accordance with the provisions of this Agreement shall
be deemed to have been given on the date of receipt.

          SECTION 9.02. Waivers; Amendments. (a) No failure or delay by the Administrative
Agent, any Issuing Bank or any Lender in exercising any right or power hereunder shall operate as a
waiver thereof, nor shall any single or partial exercise of any such right or power, or any
abandonment or discontinuance of steps to enforce such a right or power, preclude any other or
further exercise thereof or the exercise of any other right or power. The rights and remedies of
the Administrative Agent, the Issuing Banks and the Lenders hereunder are cumulative and are not
exclusive of any rights or remedies that they would otherwise have. No waiver of any provision of
this Agreement or consent to any departure by the Borrowers therefrom shall in any event be
effective unless the same shall be permitted by paragraph (b) of this Section, and then such waiver
or consent shall be effective only in the specific instance and for the purpose for which given.
Without limiting the generality of the foregoing, the making of a Loan or issuance of a Letter of
Credit shall not be construed as a waiver of any Default,

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regardless of whether the Administrative Agent, any Lender or any Issuing Bank may have had
notice or knowledge of such Default at the time.

          (b) Neither this Agreement nor any provision hereof may be waived, amended or modified except
pursuant to an agreement or agreements in writing entered into by the Borrower and the Required
Lenders or by the Borrower and the Administrative Agent with the consent of the Required Lenders;
provided that no such agreement shall (i) increase the Commitment of any Lender without
the written consent of such Lender, (ii) reduce the principal amount of any Loan or LC
Disbursement or reduce the rate of interest thereon, or reduce any fees payable hereunder, without
the written consent of each Lender affected thereby, (iii) postpone the scheduled date of payment
of the principal amount of any Loan or LC Disbursement, or any interest thereon, or any fees
payable hereunder, or reduce the amount of, waive or excuse any such payment, or postpone the
scheduled date of expiration of any Commitment, without the written consent of each Lender
affected thereby, (iv) change Section 2.18(b) or (c) in a manner that would alter the pro rata
sharing of payments required thereby, without the written consent of each Lender, (v) change any
of the provisions of this Section or the definition of “Required Lenders” or any other provision
hereof specifying the number or percentage of Lenders required to waive, amend or modify any
rights hereunder or make any determination or grant any consent hereunder, without the written
consent of each Lender, or (vi) release any Subsidiary Guarantor (which at the time of such
release is a Material Subsidiary) from its obligations under the Subsidiary Guaranty (or any other
Guarantee entered into pursuant hereto) without the written consent of each Lender;
provided further that no such agreement shall amend, modify or otherwise affect
the rights or duties of the Administrative Agent, any Issuing Bank or the Swingline Lender
hereunder without the prior written consent of the Administrative Agent, such Issuing Bank or the
Swingline Lender, as the case may be and, without limiting the foregoing, Section 2.22 shall not
be amended or modified without the consent of each of such parties.

          SECTION 9.03. Expenses; Indemnity; Damage Waiver. (a) The Borrower shall pay (i) all
reasonable out of pocket expenses incurred by the Administrative Agent and its Affiliates,
including the reasonable fees, charges and disbursements of counsel for the Administrative Agent,
in connection with the syndication of the credit facilities provided for herein, the preparation
and administration of this Agreement or any amendments, modifications or waivers of the provisions
hereof (whether or not the transactions contemplated hereby or thereby shall be consummated), (ii)
all reasonable out-of-pocket expenses incurred by any Issuing Bank in connection with the issuance,
amendment, renewal or extension of any Letter of Credit or any demand for payment thereunder and
(iii) all out-of-pocket expenses incurred by the Administrative Agent, any Issuing Bank or any
Lender, including the fees, charges and disbursements of any counsel for the Administrative Agent,
any Issuing Bank or any Lender, in connection with the enforcement or protection of its rights in
connection with this Agreement, including its rights under this Section, or in connection with the
Loans made or Letters of Credit issued hereunder, including all such out-of pocket expenses
incurred during any workout, restructuring or negotiations in respect of such Loans or Letters of
Credit.

          (b) The Borrower shall indemnify the Administrative Agent, each Issuing Bank and each Lender,
and each Related Party of any of the foregoing Persons (each such Person being called an
“Indemnitee”) against, and hold each Indemnitee harmless from, any

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and all losses, claims, damages, liabilities and related expenses, including the fees,
charges and disbursements of any counsel for any Indemnitee, incurred by or asserted against any
Indemnitee arising out of, in connection with, or as a result of (i) the execution or delivery of
this Agreement or any agreement or instrument contemplated hereby, the performance by the parties
hereto of their respective obligations hereunder or the consummation of the Transactions or any
other transactions contemplated hereby, (ii) any Loan or Letter of Credit or the use of the
proceeds therefrom (including any refusal by any Issuing Bank to honor a demand for payment under
a Letter of Credit if the documents presented in connection with such demand do not strictly
comply with the terms of such Letter of Credit), (iii) any actual or alleged presence or release
of Hazardous Materials on or from any property owned or operated by the Borrower or any of its
Subsidiaries, or any Environmental Liability related in any way to the Borrower or any of its
Subsidiaries, or (iv) any actual or prospective claim, litigation, investigation or proceeding
relating to any of the foregoing, whether based on contract, tort or any other theory and
regardless of whether any Indemnitee is a party thereto; provided that such indemnity
shall not, as to any Indemnitee, be available to the extent that such losses, claims, damages,
liabilities or related expenses are determined by a court of competent jurisdiction by final and
nonappealable judgment to have resulted from the gross negligence or willful misconduct of such
Indemnitee. This Section 9.03(b) shall not apply with respect to Taxes other than any Taxes that
represent losses or damages arising from any non-Tax claim.

          (c) To the extent that the Borrower fails to pay any amount required to be paid by it to the
Administrative Agent, any Issuing Bank or the Swingline Lender under paragraph (a) or (b) of this
Section, each Lender severally agrees to pay to the Administrative Agent, such Issuing Bank or the
Swingline Lender, as the case may be, such Lender’s Applicable Percentage (determined as of the
time that the applicable unreimbursed expense or indemnity payment is sought) of such unpaid
amount; provided that the unreimbursed expense or indemnified loss, claim, damage,
liability or related expense, as the case may be, was incurred by or asserted against the
Administrative Agent, such Issuing Bank or the Swingline Lender in its capacity as such.

          (d) To the extent permitted by applicable law, the Borrowers shall not assert, and hereby
waive, any claim against any Indemnitee, on any theory of liability, for special, indirect,
consequential or punitive damages (as opposed to direct or actual damages) arising out of, in
connection with, or as a result of, this Agreement or any agreement or instrument contemplated
hereby, the Transactions, any Loan or Letter of Credit or the use of the proceeds thereof.

          (e) All amounts due under this Section shall be payable promptly after written demand
therefor.

          SECTION 9.04. Successors and Assigns. (a) The provisions of this Agreement shall be
binding upon and inure to the benefit of the parties hereto and their respective successors and
assigns permitted hereby (including any Affiliate of any Issuing Bank that issues any Letter of
Credit), except that (i) the Borrowers may not assign or otherwise transfer any of their respective
rights or obligations hereunder without the prior written consent of each Lender (and any attempted
assignment or transfer by the Borrowers without such consent shall be null and void) and (ii) no
Lender may assign or otherwise transfer its rights or obligations hereunder

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except in accordance with this Section. Nothing in this Agreement, expressed or implied,
shall be construed to confer upon any Person (other than the parties hereto, their respective
successors and assigns permitted hereby (including any Affiliate of any Issuing Bank that issues
any Letter of Credit), Participants (to the extent provided in paragraph (c) of this Section) and,
to the extent expressly contemplated hereby, the Related Parties of each of the Administrative
Agent, the Issuing Banks and the Lenders) any legal or equitable right, remedy or claim under or by
reason of this Agreement.

          (b) (i) Subject to the conditions set forth in paragraph (b)(ii) below, any Lender may assign
to one or more assignees all or a portion of its rights and obligations under this Agreement
(including all or a portion of its Commitment and the Loans at the time owing to it) with the
prior written consent (such consent not to be unreasonably withheld) of:

          (A) the Borrower, provided that no consent of the Borrower shall be required
for an assignment to a Lender, an Affiliate of a Lender, an Approved Fund or, if an Event of
Default has occurred and is continuing, any other assignee; provided
further, that the Borrower shall be deemed to have consented to any such assignment
unless it shall object thereto by written notice to the Administrative Agent within five
Business Days after having received notice thereof;

          (B) the Administrative Agent, provided that no consent of the Administrative
Agent shall be required for an assignment of any Commitment to an assignee that is a Lender
with a Commitment immediately prior to giving effect to such assignment; and

          (C) each Issuing Bank.

     (ii) Assignments shall be subject to the following additional conditions:

          (A) except in the case of an assignment to a Lender or an Affiliate of a Lender or an
assignment of the entire remaining amount of the assigning Lender’s Commitment or Loans of
any Class, the amount of the Commitment or Loans of the assigning Lender subject to each
such assignment (determined as of the date the Assignment and Assumption with respect to
such assignment is delivered to the Administrative Agent) shall not be less than $5,000,000
unless each of the Borrower and the Administrative Agent otherwise consent, provided
that no such consent of the Borrower shall be required if an Event of Default has occurred
and is continuing;

          (B) each partial assignment shall be made as an assignment of a proportionate part of
all the assigning Lender’s rights and obligations under this Agreement;

          (C) the parties to each assignment shall execute and deliver to the Administrative
Agent an Assignment and Assumption, together with a processing and recordation fee of $3,500
payable by the assigning Lender; and

          (D) the assignee, if it shall not be a Lender, shall deliver to the Administrative
Agent an Administrative Questionnaire in which the assignee designates

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one or more credit contacts to whom all syndicate-level information (which may contain
material non-public information about the Borrower and its affiliates, the other Credit
Parties and their related parties or their respective securities) will be made available and
who may receive such information in accordance with the assignee’s compliance
procedures and applicable laws, including Federal and state securities laws.

          For the purposes of this Section 9.04(b), the term “Approved Fund” has the
following meaning:

          “Approved Fund” means any Person (other than a natural person) that is engaged in
making, purchasing, holding or investing in bank loans and similar extensions of credit in the
ordinary course of its business and that is administered or managed by (a) a Lender, (b) an
Affiliate of a Lender or (c) an entity or an Affiliate of an entity that administers or manages a
Lender.

     (iii) Subject to acceptance and recording thereof pursuant to paragraph (b)(iv) of this
Section, from and after the effective date specified in each Assignment and Assumption the
assignee thereunder shall be a party hereto and, to the extent of the interest assigned by
such Assignment and Assumption, have the rights and obligations of a Lender under this
Agreement, and the assigning Lender thereunder shall, to the extent of the interest assigned
by such Assignment and Assumption, be released from its obligations under this Agreement
(and, in the case of an Assignment and Assumption covering all of the assigning Lender’s
rights and obligations under this Agreement, such Lender shall cease to be a party hereto
but shall continue to be entitled to the benefits of Sections 2.15, 2.16, 2.17 and 9.03).
Any assignment or transfer by a Lender of rights or obligations under this Agreement that
does not comply with this Section 9.04 shall be treated for purposes of this Agreement as a
sale by such Lender of a participation in such rights and obligations in accordance with
paragraph (c) of this Section.

     (iv) The Administrative Agent, acting for this purpose as an agent of the Borrowers,
shall maintain at one of its offices a copy of each Assignment and Assumption delivered to
it and a register for the recordation of the names and addresses of the Lenders, and the
Commitment of, and principal amount of the Loans and LC Disbursements owing to, each Lender
pursuant to the terms hereof from time to time (the “Register”). The entries in the
Register shall be conclusive, and the Borrowers, the Administrative Agent, the Issuing Banks
and the Lenders may treat each Person whose name is recorded in the Register pursuant to the
terms hereof as a Lender hereunder for all purposes of this Agreement, notwithstanding
notice to the contrary. The Register shall be available for inspection by the Borrower, any
Issuing Bank and any Lender, at any reasonable time and from time to time upon reasonable
prior notice.

     (v) Upon its receipt of a duly completed Assignment and Assumption executed by an
assigning Lender and an assignee, the assignee’s completed Administrative Questionnaire
(unless the assignee shall already be a Lender hereunder), the processing and recordation
fee referred to in paragraph (b) of this Section and any written consent to such assignment
required by paragraph (b) of this Section, the Administrative Agent shall accept such
Assignment and Assumption and record the

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information contained therein in the Register; provided that if either the
assigning Lender or the assignee shall have failed to make any payment required to be made
by it pursuant to Section 2.05(c), 2.06(d) or (e), 2.07(b), 2.18(d) or 9.03(c), the
Administrative Agent shall have no obligation to accept such Assignment and Assumption and
record the information therein in the Register unless and until such payment shall have been
made in full, together with all accrued interest thereon. No assignment shall be effective
for purposes of this Agreement unless it has been recorded in the Register as provided in
this paragraph.

          (c) Any Lender may, without the consent of the Borrowers, the Administrative Agent, any
Issuing Bank or the Swingline Lender, sell participations to one or more banks or other entities
(a “Participant”) in all or a portion of such Lender’s rights and obligations under this
Agreement (including all or a portion of its Commitment and the Loans owing to it);
provided that (A) such Lender’s obligations under this Agreement shall remain unchanged,
(B) such Lender shall remain solely responsible to the other parties hereto for the performance of
such obligations and (C) the Borrowers, the Administrative Agent, the Issuing Banks and the other
Lenders shall continue to deal solely and directly with such Lender in connection with such
Lender’s rights and obligations under this Agreement. Any agreement or instrument pursuant to
which a Lender sells such a participation shall provide that such Lender shall retain the sole
right to enforce this Agreement and to approve any amendment, modification or waiver of any
provision of this Agreement; provided that such agreement or instrument may provide that
such Lender will not, without the consent of the Participant, agree to any amendment, modification
or waiver described in the first proviso to Section 9.02(b) that affects such Participant. The
Borrowers agree that each Participant shall be entitled to the benefits of Sections 2.15, 2.16 and
2.17 (subject to the requirements and limitations therein, including the requirements under
Section 2.17(f) (it being understood that the documentation required under Section 2.17(f) shall
be delivered to the participating Lender)) to the same extent as if it were a Lender and had
acquired its interest by assignment pursuant to paragraph (b) of this Section; provided
that such Participant (A) agrees to be subject to the provisions of Sections 2.18 and 2.19 as if
it were an assignee under paragraph (b) of this Section; and (B) shall not be entitled to receive
any greater payment under Sections 2.15 or 2.17, with respect to any participation, than its
participating Lender would have been entitled to receive, except to the extent such entitlement to
receive a greater payment results from a Change in Law that occurs after the Participant acquired
the applicable participation. To the extent permitted by law, each Participant also shall be
entitled to the benefits of Section 9.08 as though it were a Lender, provided such Participant
agrees to be subject to Section 2.18(c) as though it were a Lender. Each Lender that sells a
participation shall, acting solely for this purpose as an agent of the Borrowers, maintain a
register on which it enters the name and address of each Participant and the principal amounts
(and stated interest) of each Participant’s interest in the Loans or other obligations under this
Agreement (the “Participant Register”); provided that no Lender shall have any
obligation to disclose all or any portion of the Participant Register to any Person (including the
identity of any Participant or any information relating to a Participant’s interest in any
Commitments, Loans, Letters of Credit or its other obligations under any Credit Document) except
to the extent that such disclosure is necessary to establish that such Commitment, Loan, Letter of
Credit or other obligation is in registered form under Section 5f.103-1(c) of the United States
Treasury Regulations. The entries in the Participant Register shall be conclusive absent manifest
error, and such Lender shall treat each

76

 

person whose name is recorded in the Participant Register as the owner of such participation for all purposes
of this Agreement notwithstanding any notice to the contrary.

          (d) Any Lender may at any time pledge or assign a security interest in all or any portion of
its rights under this Agreement to secure obligations of such Lender, including without limitation
any pledge or assignment to secure obligations to a Federal Reserve Bank, and this Section shall
not apply to any such pledge or assignment of a security interest; provided that no such
pledge or assignment of a security interest shall release a Lender from any of its obligations
hereunder or substitute any such pledgee or assignee for such Lender as a party hereto.

          SECTION 9.05. Survival. All covenants, agreements, representations and warranties
made by the Borrowers herein and in the certificates or other instruments delivered in connection
with or pursuant to this Agreement shall be considered to have been relied upon by the other
parties hereto and shall survive the execution and delivery of this Agreement and the making of any
Loans and issuance of any Letters of Credit, regardless of any investigation made by any such other
party or on its behalf and notwithstanding that the Administrative Agent, any Issuing Bank or any
Lender may have had notice or knowledge of any Default or incorrect representation or warranty at
the time any credit is extended hereunder, and shall continue in full force and effect as long as
the principal of or any accrued interest on any Loan or any fee or any other amount payable under
this Agreement is outstanding and unpaid or any Letter of Credit is outstanding and so long as the
Commitments have not expired or terminated. The provisions of Sections 2.15, 2.16, 2.17 and 9.03
and Article VIII shall survive and remain in full force and effect regardless of the consummation
of the transactions contemplated hereby, the repayment of the Loans, the expiration or termination
of the Letters of Credit and the Commitments or the termination of this Agreement or any provision
hereof.

          SECTION 9.06. Counterparts; Integration; Effectiveness. This Agreement may be
executed in counterparts (and by different parties hereto on different counterparts), each of which
shall constitute an original, but all of which when taken together shall constitute a single
contract. This Agreement and any separate letter agreements with respect to fees payable to the
Administrative Agent constitute the entire contract among the parties relating to the subject
matter hereof and supersede any and all previous agreements and understandings, oral or written,
relating to the subject matter hereof. Except as provided in Section 4.01, this Agreement shall
become effective when it shall have been executed by the Administrative Agent and when the
Administrative Agent shall have received counterparts hereof which, when taken together, bear the
signatures of each of the other parties hereto, and thereafter shall be binding upon and inure to
the benefit of the parties hereto and their respective successors and assigns. Delivery of an
executed counterpart of a signature page of this Agreement by telecopy or other electronic imaging
(including in a pdf or similar file format) shall be effective as delivery of a manually executed
counterpart of this Agreement.

          SECTION 9.07. Severability. Any provision of this Agreement held to be invalid,
illegal or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the
extent of such invalidity, illegality or unenforceability without affecting the validity, legality
and enforceability of the remaining provisions hereof; and the invalidity of a particular provision
in a particular jurisdiction shall not invalidate such provision in any other jurisdiction.

77

 

          SECTION 9.08. Right of Setoff. If an Event of Default shall have occurred and be
continuing, each Lender and each of its 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 obligations at any
time owing by such Lender or Affiliate to or for the credit or the account of any of the Borrowers
against any of and all the obligations of such Person now or hereafter existing under this
Agreement held by such Lender, irrespective of whether or not such Lender shall have made any
demand under this Agreement and although such obligations may be unmatured. The rights of each
Lender under this Section are in addition to other rights and remedies (including other rights of
setoff) which such Lender may have.

          SECTION 9.09. Governing Law; Jurisdiction; Consent to Service of Process. (a) This
Agreement shall be construed in accordance with and governed by the law of the State of New York.

          (b) Each of the Borrowers hereby irrevocably and unconditionally submits, for itself and its
property, to the nonexclusive jurisdiction of the Supreme Court of the State of New York sitting
in New York County and of the United States District Court of the Southern District of New York,
and any appellate court from any thereof, in any action or proceeding arising out of or relating
to this Agreement, or for recognition or enforcement of any judgment, and each of the parties
hereto hereby irrevocably and unconditionally agrees that all claims in respect of any such action
or proceeding may be heard and determined in such New York State or, to the extent permitted by
law, in such Federal court. Each of the parties hereto agrees that a final judgment in any such
action or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the
judgment or in any other manner provided by law. Nothing in this Agreement shall affect any right
that the Administrative Agent, any Issuing Bank or any Lender may otherwise have to bring any
action or proceeding relating to this Agreement against the Borrowers or their respective
properties in the courts of any jurisdiction.

          (c) Each of the Borrowers hereby irrevocably and unconditionally waives, to the fullest
extent it may legally and effectively do so, any objection which it may now or hereafter have to
the laying of venue of any suit, action or proceeding arising out of or relating to this Agreement
in any court referred to in paragraph (b) of this Section. Each of the parties hereto hereby
irrevocably waives, to the fullest extent permitted by law, the defense of an inconvenient forum
to the maintenance of such action or proceeding in any such court.

          (d) Each party to this Agreement irrevocably consents to service of process in the manner
provided for notices in Section 9.01. Nothing in this Agreement will affect the right of any
party to this Agreement to serve process in any other manner permitted by law.

          SECTION 9.10. WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST
EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL
PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS
CONTEMPLATED HEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY). EACH PARTY HERETO (A)
CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER

78

 

PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT
OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER
PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL
WAIVERS AND CERTIFICATIONS IN THIS SECTION.

          SECTION 9.11. Headings. Article and Section headings and the Table of Contents used
herein are for convenience of reference only, are not part of this Agreement and shall not affect
the construction of, or be taken into consideration in interpreting, this Agreement.

          SECTION 9.12. Confidentiality. Each of the Administrative Agent, the Issuing Banks
and the Lenders agrees to maintain the confidentiality of the Information (as defined below),
except that Information may be disclosed (a) to its and its Affiliates’ directors, officers,
employees and agents, including accountants, legal counsel and other advisors (it being understood
that the Persons to whom such disclosure is made will be informed of the confidential nature of
such Information and instructed to keep such Information confidential), (b) to the extent requested
by any regulatory authority, (c) to the extent required by applicable laws or regulations or by any
subpoena or similar legal process, (d) to any other party to this Agreement, (e) in connection with
the exercise of any remedies hereunder or any suit, action or proceeding relating to this Agreement
or the enforcement of rights hereunder, (f) subject to an agreement containing provisions
substantially the same as those of this Section, to (i) any assignee of or Participant in, or any
prospective assignee of or Participant in, any of its rights or obligations under this Agreement or
(ii) any actual or prospective counterparty (or its advisors) to any swap or derivative transaction
relating to any of the Borrowers and its obligations, (g) with the consent of the Borrower or (h)
to the extent such Information (i) becomes publicly available other than as a result of a breach of
this Section or (ii) becomes available to the Administrative Agent, any Issuing Bank or any Lender
on a non-confidential basis from a source other than the Borrower. For the purposes of this
Section, “Information” means all information received from the Borrower relating to the
Borrower or its business, other than any such information that is available to the Administrative
Agent, any Issuing Bank or any Lender on a non-confidential basis prior to disclosure by the
Borrower; provided that, in the case of information received from the Borrower after the
date hereof, such information is clearly identified at the time of delivery as confidential. Any
Person required to maintain the confidentiality of Information as provided in this Section shall be
considered to have complied with its obligation to do so if such Person has exercised the same
degree of care to maintain the confidentiality of such Information as such Person would accord to
its own confidential information.

          EACH LENDER ACKNOWLEDGES THAT INFORMATION AS DEFINED IN SECTION 9.12(a) FURNISHED TO IT
PURSUANT TO THIS AGREEMENT MAY INCLUDE MATERIAL NON-PUBLIC INFORMATION CONCERNING THE BORROWER AND
ITS RELATED PARTIES OR THEIR RESPECTIVE SECURITIES, AND CONFIRMS THAT IT HAS DEVELOPED COMPLIANCE
PROCEDURES REGARDING THE USE OF MATERIAL NON-PUBLIC INFORMATION AND THAT IT WILL HANDLE SUCH
MATERIAL NON-

79

 

PUBLIC INFORMATION IN ACCORDANCE WITH THOSE PROCEDURES AND APPLICABLE LAW, INCLUDING FEDERAL
AND STATE SECURITIES LAWS.

          ALL INFORMATION, INCLUDING REQUESTS FOR WAIVERS AND AMENDMENTS, FURNISHED BY THE BORROWER OR
THE ADMINISTRATIVE AGENT PURSUANT TO, OR IN THE COURSE OF ADMINISTERING, THIS AGREEMENT WILL BE
SYNDICATE-LEVEL INFORMATION, WHICH MAY CONTAIN MATERIAL NON-PUBLIC INFORMATION ABOUT THE BORROWER
AND ITS AFFILIATES, THE OTHER CREDIT PARTIES AND THEIR RELATED PARTIES OR THEIR RESPECTIVE
SECURITIES. ACCORDINGLY, EACH LENDER REPRESENTS TO THE BORROWER AND THE ADMINISTRATIVE AGENT THAT
IT HAS IDENTIFIED IN ITS ADMINISTRATIVE QUESTIONNAIRE A CREDIT CONTACT WHO MAY RECEIVE INFORMATION
THAT MAY CONTAIN MATERIAL NON-PUBLIC INFORMATION IN ACCORDANCE WITH ITS COMPLIANCE PROCEDURES AND
APPLICABLE LAW.

          SECTION 9.13. Interest Rate Limitation. Notwithstanding anything herein to the
contrary, if at any time the interest rate applicable to any Loan, together with all fees, charges
and other amounts which are treated as interest on such Loan under applicable law (collectively the
“Charges”), shall exceed the maximum lawful rate (the “Maximum Rate”) which may be
contracted for, charged, taken, received or reserved by the Lender holding such Loan in accordance
with applicable law, the rate of interest payable in respect of such Loan hereunder, together with
all Charges payable in respect thereof, shall be limited to the Maximum Rate and, to the extent
lawful, the interest and Charges that would have been payable in respect of such Loan but were not
payable as a result of the operation of this Section shall be cumulated and the interest and
Charges payable to such Lender in respect of other Loans or periods shall be increased (but not
above the Maximum Rate therefor) until such cumulated amount, together with interest thereon at the
Federal Funds Effective Rate to the date of repayment, shall have been received by such Lender.

          SECTION 9.14. USA PATRIOT Act. Each Lender that is subject to the requirements of
the USA Patriot Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001)) (the
“Act”) hereby notifies the Borrowers that pursuant to the requirements of the Act, it is
required to obtain, verify and record information that identifies such Person, which information
includes the names and addresses of the Borrowers and other information that will allow such Lender
to identify the Borrowers in accordance with the Act.

          SECTION 9.15. Conversion of Currencies. (a) If, for the purpose of obtaining
judgment in any court, it is necessary to convert a sum owing hereunder in one currency into
another currency, each party hereto agrees, to the fullest extent that it may effectively do so,
that the rate of exchange used shall be that at which in accordance with normal banking procedures
in the relevant jurisdiction the first currency could be purchased with such other currency on the
Business Day immediately preceding the day on which final judgment is given.

          (b) The obligations of each Borrower in respect of any sum due to any party hereto or any
holder of the obligations owing hereunder (the “Applicable Creditor”) shall,
notwithstanding any judgment in a currency (the “Judgment Currency”) other than the

80

 

currency in which such sum is stated to be due hereunder (the “Agreement Currency”),
be discharged only to the extent that, on the Business Day following receipt by the Applicable
Creditor of any sum adjudged to be so due in the Judgment Currency, the Applicable Creditor may in
accordance with normal banking procedures in the relevant jurisdiction purchase the Agreement
Currency with the Judgment Currency; if the amount of the Agreement Currency so purchased is less
than the sum originally due to the Applicable Creditor in the Agreement Currency, each Borrower
agrees, as a separate obligation and notwithstanding any such judgment, to indemnify the
Applicable Creditor against such loss, and if the amount of the Agreement Currency so purchased
exceeds the sum originally due to the Applicable Creditor in the Agreement Currency, the
Applicable Creditor agrees to remit such excess to the Borrower. The obligations of the Borrower
contained in this Section 9.15 shall survive the termination of this Agreement and the payment of
all other amounts owing hereunder.

          SECTION 9.16. Existing Credit Agreement Matters. Each Lender (as defined in this
Agreement) which is also a “Lender” under the Existing Credit Agreement (an “Existing
Lender”) hereby authorizes and directs the Administrative Agent to give such notices and take
such actions as it deems necessary or appropriate to terminate the Collateral Documents and
effectuate the release of all Collateral pledged pursuant thereto and of the guarantors from the
Guarantee Agreement. Without limiting the foregoing, each Existing Lender authorizes and directs
the Administrative Agent, acting on behalf of such Existing Lender, to instruct the Collateral
Agent to release all of the Collateral from the Lien of the Collateral Documents (and to release
all guarantors from the Guarantee Agreement) as contemplated by Section 8 of the Collateral Agency
Agreement, such instruction to be given on the Effective Date (as defined in this Agreement).
Defined terms used in this Section 9.16 shall have the meanings set forth in the Existing Credit
Agreement except as otherwise indicated.

[signature pages follow]

81

 

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

	 	 	 	 	 
	 	ROBBINS & MYERS, INC.

 	 
	 	By  	Christopher M. Hix
 	 
	 	 	Name:  	Christopher M. Hix 	 
	 	 	Title:  	Vice President and Chief Financial Officer 	 
	 
	 	ROBBINS & MYERS FINANCE EUROPE B.V.,

as a Subsidiary Borrower

 	 
	 	By  	Christopher M. Hix
 	 
	 	 	Name:  	Christopher M. Hix 	 
	 	 	Title:  	Managing Director 	 
	 
	 	JPMORGAN CHASE BANK, N.A., individually and as

Administrative Agent

 	 
	 	By  	Dana J. Morgan
 	 
	 	 	Name:  	Dana J. Morgan 	 
	 	 	Title:  	Vice President 	 
	 
	 	BANK OF MONTREAL,

as a Lender

 	 
	 	By  	Thad D. Rasche
 	 
	 	 	Name:  	Thad D. Rasche 	 
	 	 	Title:  	Director 	 
	 
	 	PNC BANK, N.A.,

as a Lender

 	 
	 	By  	Neal J. Hinker
 	 
	 	 	Name:  	Neal J. Hinker 	 
	 	 	Title:  	Sr. Vice President 	 

Signature Page to Robbins & Myers Credit Agreement

 

 

	 	 	 	 	 
	 	WELLS FARGO BANK, N.A.,

as a Lender

 	 
	 	By  	T. Alan Smith
 	 
	 	 	Name:  	T. Alan Smith 	 
	 	 	Title:  	Managing Director 	 
	 
	 	BANK OF AMERICA,

as a Lender

 	 
	 	By  	Anthony M. Buehler
 	 
	 	 	Name:  	Anthony M. Buehler 	 
	 	 	Title:  	Senior Vice President 	 
	 
	 	CITIZENS BANK OF PENNSYLVANIA,

as a Lender

 	 
	 	By  	Philip R. Medsger
 	 
	 	 	Name:  	Philip R. Medsger 	 
	 	 	Title:  	Senior Vice President 	 
	 
	 	HSBC BANK USA, National Association

as a Lender

 	 
	 	By  	Christopher S. Helmeci
 	 
	 	 	Name:  	Christopher S. Helmeci 	 
	 	 	Title:  	Sr. Relationship Manager 	 
	 
	 	FIFTH THIRD BANK,

as a Lender

 	 
	 	By  	Megan S. Szewc
 	 
	 	 	Name:  	Megan S. Szewc 	 
	 	 	Title:  	Vice President 	 

Signature Page to Robbins & Myers Credit Agreement

 

 

EXHIBIT A

FORM OF ASSIGNMENT AND ASSUMPTION

          This Assignment and Assumption (the “Assignment and Assumption”) is dated as of the
Effective Date set forth below and is entered into by and between [Insert name of Assignor] (the
“Assignor”) and [Insert name of Assignee] (the “Assignee”). Capitalized terms used
but not defined herein shall have the meanings given to them in the Credit Agreement identified
below (as amended, restated, supplemented or otherwise modified and in effect from time to time,
the “Credit Agreement”), receipt of a copy of which is hereby acknowledged by the Assignee.
The Standard Terms and Conditions set forth in Annex 1 attached hereto are hereby agreed to and
incorporated herein by reference and made a part of this Assignment and Assumption as if set forth
herein in full.

          For an agreed consideration, the Assignor hereby irrevocably sells and assigns to the
Assignee, and the Assignee hereby irrevocably purchases and assumes from the Assignor, subject to
and in accordance with the Standard Terms and Conditions and the Credit Agreement, as of the
Effective Date inserted by the Administrative Agent as contemplated below (i) all of the Assignor’s
rights and obligations in its capacity as a Lender under the Credit Agreement and any other
documents or instruments delivered pursuant thereto to the extent related to the amount and
percentage interest identified below of all of such outstanding rights and obligations of the
Assignor under the respective facilities identified below (including any letters of credit,
guarantees, and swingline loans included in such facilities) and (ii) to the extent permitted to be
assigned under applicable law, all claims, suits, causes of action and any other right of the
Assignor (in its capacity as a Lender) against any Person, whether known or unknown, arising under
or in connection with the Credit Agreement, any other documents or instruments delivered pursuant
thereto or the loan transactions governed thereby or in any way based on or related to any of the
foregoing, including contract claims, tort claims, malpractice claims, statutory claims and all
other claims at law or in equity related to the rights and obligations sold and assigned pursuant
to clause (i) above (the rights and obligations sold and assigned pursuant to clauses (i) and (ii)
above being referred to herein collectively as the “Assigned Interest”). Such sale and
assignment is without recourse to the Assignor and, except as expressly provided in this Assignment
and Assumption, without representation or warranty by the Assignor.

	 	 	 	 	 

	1.

	 	Assignor:
	 	________________________
	 
	 	 	 	 
	2.

	 	Assignee:
	 	________________________
	 

	 	 	 	[and is an Affiliate/Approved Fund of [identify Lender]1]
	 
	 	 	 	 
	3.	 	Borrower(s): Robbins & Myers, Inc. and the Subsidiary Borrowers from time to time party to the
Credit Agreement
	 
	 	 	 	 
	4.	 	Administrative Agent: JPMorgan Chase Bank, N.A., as the administrative agent under the Credit Agreement

 

			
	1	 	Select as applicable.

 

 

	 	 	 	 	 

	5.	 	Credit Agreement: The $150,000,000 Credit Agreement dated as of March [___], 2011 among Robbins &
Myers, Inc., the Subsidiary Borrowers from time to time party thereto, the Lenders
party thereto and JPMorgan Chase Bank, N.A., as Administrative Agent, as amended,
restated, supplemented or otherwise modified and in effect from time to time.
	 
	 	 	 	 
	6.	 	Assigned Interest:

	 	 	 	 	 	 	 	 	 
	Aggregate Amount of	 	Amount of	 	 
	Commitment/Loans for	 	Commitment/Loans	 	Percentage Assigned of
	all Lenders	 	Assigned	 	Commitment/Loans2
	$

	 	 	$	 	 	 	%	 
	$

	 	 	$	 	 	 	%	 
	$

	 	 	$	 	 	 	%	 

Effective Date: _____________ ___, 20___ [TO BE INSERTED BY ADMINISTRATIVE AGENT AND WHICH SHALL
BE THE EFFECTIVE DATE OF RECORDATION OF TRANSFER IN THE REGISTER THEREFOR.]

The Assignee agrees to deliver to the Administrative Agent a completed Administrative Questionnaire
in which the Assignee designates one or more Credit Contacts to whom all syndicate-level
information (which may contain material non-public information about the Borrowers, the Credit
Parties and their related parties or their respective securities) will be made available and who
may receive such information in accordance with the Assignee’s compliance procedures and applicable
laws, including Federal and state securities laws.

The terms set forth in this Assignment and Assumption are hereby agreed to:

	 	 	 	 	 
	 	ASSIGNOR

[NAME OF ASSIGNOR]

 	 
	 	By:  	 	 
	 	 	Title: 	 
	 	 	 	 
	 
	 	ASSIGNEE

[NAME OF ASSIGNEE]

 	 
	 	By:  	 	 
	 	 	Title: 	 
	 	 	 	 
	 

 

			
	2	 	Set forth, to at least 9 decimals, as a
percentage of the Commitment/Loans of all Lenders thereunder.

2

 

[Consented to and]3 Accepted:

JPMORGAN CHASE BANK, N.A., as

Administrative Agent

	 	 	 	 
	 	 
	By  	 	 
	 	Title: 	 
	 
	[Consented to:]4

[NAME OF RELEVANT PARTY]

 	 
	By  	 	 
	 	Title: 	 
	 	 	 
	 

 

			
	3	 	To be added only if the consent of the
Administrative Agent is required by the terms of the Credit Agreement.
	 
	4	 	To be added only if the consent of the
Borrower and/or other parties (e.g. Swingline Lender, Issuing Bank) is required
by the terms of the Credit Agreement.

3

 

ANNEX 1

STANDARD TERMS AND CONDITIONS FOR

ASSIGNMENT AND ASSUMPTION

          1. Representations and Warranties.

          1.1 Assignor. The Assignor (a) represents and warrants that (i) it is the legal and
beneficial owner of the Assigned Interest, (ii) the Assigned Interest is free and clear of any
lien, encumbrance or other adverse claim and (iii) it has full power and authority, and has taken
all action necessary, to execute and deliver this Assignment and Assumption and to consummate the
transactions contemplated hereby; and (b) assumes no responsibility with respect to (i) any
statements, warranties or representations made in or in connection with the Credit Agreement or any
other Credit Document, (ii) the execution, legality, validity, enforceability, genuineness,
sufficiency or value of the Credit Documents or any collateral thereunder, (iii) the financial
condition of the Borrower, any of its Subsidiaries or Affiliates or any other Person obligated in
respect of any Credit Document or (iv) the performance or observance by the Borrowers, any of its
Subsidiaries or Affiliates or any other Person of any of their respective obligations under any
Credit Document.

          1.2. Assignee. The Assignee (a) represents and warrants that (i) it has full power
and authority, and has taken all action necessary, to execute and deliver this Assignment and
Assumption and to consummate the transactions contemplated hereby and to become a Lender under the
Credit Agreement, (ii) it satisfies the requirements, if any, specified in the Credit Agreement
that are required to be satisfied by it in order to acquire the Assigned Interest and become a
Lender, (iii) from and after the Effective Date, it shall be bound by the provisions of the Credit
Agreement as a Lender thereunder and, to the extent of the Assigned Interest, shall have the
obligations of a Lender thereunder, (iv) it has received a copy of the Credit Agreement, together
with copies of the most recent financial statements delivered pursuant to Section 5.01 thereof, as
applicable, 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 Assumption and to purchase the
Assigned Interest on the basis of which it has made such analysis and decision independently and
without reliance on the Administrative Agent or any other Lender, and (v) if it is a Non-U.S.
Lender, attached to the Assignment and Assumption is any documentation required to be delivered by
it pursuant to the terms of the Credit Agreement, duly completed and executed by the Assignee; and
(b) agrees that (i) it will, independently and without reliance on the Administrative Agent, the
Assignor or any other Lender, and based on such documents and information as it shall deem
appropriate at the time, continue to make its own credit decisions in taking or not taking action
under the Credit Documents, and (ii) it will perform in accordance with their terms all of the
obligations which by the terms of the Credit Documents are required to be performed by it as a
Lender.

          2. Payments. From and after the Effective Date, the Administrative Agent shall make
all payments in respect of the Assigned Interest (including payments of principal, interest, fees
and other amounts) to the Assignor for amounts which have accrued to but excluding the Effective
Date and to the Assignee for amounts which have accrued from and after the Effective Date.

 

 

          3. General Provisions. This Assignment and Assumption shall be binding upon, and
inure to the benefit of, the parties hereto and their respective successors and assigns. This
Assignment and Assumption may be executed in any number of counterparts, which together shall
constitute one instrument. Delivery of an executed counterpart of a signature page of this
Assignment and Assumption by telecopy or email (in a .pdf or similar file) shall be effective as
delivery of a manually executed counterpart of this Assignment and Assumption. This Assignment and
Assumption shall be governed by, and construed in accordance with, the law of the State of New
York.

2

 

EXHIBIT B

FORM OF DESIGNATION LETTER

___________________, ______

JPMorgan Chase Bank, N.A., as Administrative Agent for the Lenders
party to the Credit Agreement referred to below

[_________________________]

[_________________________]

Attention: [_______________]

Ladies and Gentlemen:

We refer to the Credit Agreement (as amended, restated, supplemented or otherwise modified and in
effect from time to time, the “Credit Agreement”) dated as of March[__], 2011 among Robbins &
Myers, Inc. (the “Borrower”), the Subsidiary Borrowers from time to time party thereto, the Lenders
party thereto and JPMorgan Chase Bank, N.A., as Administrative Agent. Unless otherwise defined
herein, capitalized terms used in this Designation Letter have the meanings ascribed thereto in the
Credit Agreement.

The Borrower hereby designates [_____________] (the “Designated Subsidiary”), a Wholly-Owned
Subsidiary of the Borrower and a [corporation duly incorporated under the laws of [_______]], as a
“Subsidiary Borrower” in accordance with Section 2.20 of the Credit Agreement until such
designation is terminated in accordance with Section 2.20 of the Credit Agreement.

The Designated Subsidiary hereby accepts the above designation and hereby expressly and
unconditionally accepts the obligations of a Subsidiary Borrower under the Credit Agreement and
agrees and confirms that, upon your execution and return to the Borrower of the enclosed copy of
this letter, the Designated Subsidiary shall be a Subsidiary Borrower for purposes of the Credit
Agreement and agrees to be bound by and perform and comply with the terms and provisions of the
Credit Agreement applicable to it as if it had originally executed the Credit Agreement as a
Subsidiary Borrower. The Designated Subsidiary hereby authorizes and empowers the Borrower to act
as its representative and attorney-in-fact for the purposes of signing documents and giving and
receiving notices (including borrowing requests and interest elections under the Credit Agreement)
and other communications in connection with the Credit Agreement and the transactions contemplated
thereby and for the purposes of modifying or amending any provision of the Credit Agreement and
further agrees that the Administrative Agent and each Lender may conclusively rely on the foregoing
authorization.

The Borrower hereby represents and warrants to the Administrative Agent, and each Lender that,
before and after giving effect to this Designation Letter, (i) the representations and warranties
set forth in Article III of the Credit Agreement are true and correct on the date hereof as if made
on and as of the date hereof, and (ii) no Default has occurred and is continuing. The Designated
Subsidiary represents and warrants that, in so far as they relate to such Designated Subsidiary,

 

 

each of the representations and warranties set forth in Article III of the Credit Agreement is true
and correct on the date hereof as if made on and as of the date hereof. This Designation Letter
shall be governed by, and construed in accordance with, the internal laws (without regard to the
conflict of laws provisions) of the State of New York. Without limiting any other provisions
hereof, the Designated Subsidiary hereby submits to jurisdiction and makes the waivers and
otherwise in all aspects agrees to the terms of Sections 9.09(b), (c) and (d) of the Credit
Agreement as if fully set forth herein.

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

	 	 	 	 	 
	 	Very truly yours,

ROBBINS & MYERS, INC.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	[NAME OF DESIGNATED SUBSIDIARY]

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

2

 

	 	 	 	 	 

EXHIBIT C

FORM OF TERMINATION LETTER

___________________, ______

JPMorgan Chase Bank, N.A., as Administrative Agent for the Lenders
party to the Credit Agreement referred to below

[_________________________]

[_________________________]

Attention: [_______________]

Ladies and Gentlemen:

          We refer to the Credit Agreement (as amended, restated, supplemented or otherwise modified and
in effect from time to time, the “Credit Agreement”) dated as of March[__], 2011 among Robbins &
Myers, Inc. (the “Borrower”), the Subsidiary Borrowers from time to time party thereto, the Lenders
party thereto and JPMorgan Chase Bank, N.A., as Administrative Agent. Unless otherwise defined
herein, capitalized terms used in this Termination Letter have the meanings ascribed thereto in the
Credit Agreement.

          The Borrower hereby terminates the status as a Subsidiary Borrower of _________________, a
corporation incorporated under the laws of _______________ (the “Designated Subsidiary”), in
accordance with Section 2.20 of the Credit Agreement, effective as of the date of receipt of this
notice by the Administrative Agent. The undersigned hereby represent and warrant that all Loans
made to the Designated Subsidiary and all related interest have been paid in full on or prior to
the date hereof. Notwithstanding the foregoing, this Termination Letter shall not terminate (a)
any obligation of such Designated Subsidiary that remains unpaid on the date hereof (including,
without limitation, any obligation arising hereafter in respect of the Designated Subsidiary under
Sections 2.15, 2.16 or 2.17 of the Credit Agreement) or (b) the obligations of the Borrower under
the Parent Guaranty with respect to any such unpaid obligations of the Designated Subsidiaries.

	 	 	 	 	 
	 	Very truly yours,

ROBBINS & MYERS, INC.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	[SUBSIDIARY BORROWER]

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

 

 

	 	 	 	 	 

EXHIBIT D

MANDATORY COSTS RATE

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

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

(b) the requirements of the European Central Bank.

	2.	 	On the first day of each Interest Period (or as soon as possible thereafter) the
Administrative Agent shall calculate, as a percentage rate, a rate (the “Additional Cost
Rate”) for each Lender, in accordance with the paragraphs set out below. The Mandatory
Costs Rate will be calculated by the Administrative Agent as a weighted average of the
Lenders’ Additional Cost Rates (weighted in proportion to the percentage participation of each
Lender in the relevant Loan) and will be expressed as a percentage rate per annum.
	 
	3.	 	The Additional Cost Rate for any Lender lending from a Facility Office in a Participating
Member State will be the percentage notified by such Lender to the Administrative Agent. This
percentage will be certified by such Lender in its notice to the Administrative Agent to be
its reasonable determination of the cost (expressed as a percentage of such Lender’s
participation in all Loans made from such Facility Office) of complying with the minimum
reserve requirements of the European Central Bank in respect of Loans made from that Facility
Office.
	 
	4.	 	The Additional Cost Rate for any Lender lending from a Facility Office in the United Kingdom
will be calculated by the Administrative Agent as follows:

	 	(a)	 	in relation to any Loan denominated in Sterling (if applicable):

AB+C(B-D)+E x 0.01 per cent per annum

               100 - (A+C)

	 	(b)	 	in relation to any Loan denominated in any currency other than Sterling:

E x 0.01 per cent per annum

   300

Where:

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

 

 

	“B”	 	is the percentage rate of interest (excluding the Applicable Rate, the
Mandatory Costs Rate and, if applicable, the additional rate of
interest specified in Section 2.13(c)) payable for the relevant
Interest Period on such Loan.
	 
	“C”	 	is the percentage (if any) of Eligible Liabilities which that Lender
is required from time to time to maintain as interest bearing Special
Deposits with the Bank of England.
	 
	“D”	 	is the percentage rate per annum payable by the Bank of England to the
Administrative Agent on interest bearing Special Deposits.
	 
	“E”	 	is designed to compensate Lenders for amounts payable under the Fees
Rules and is calculated by the Administrative Agent as being the
average of the most recent rates of charge supplied by the Reference
Banks to the Administrative Agent pursuant to paragraph 7 below and
expressed in pounds per £1,000,000.
	 
	5.	 	For the purposes of this Schedule:

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

	 	 	“Facility Office” means the office or offices notified by a Lender to the Administrative
Agent in writing on or before the date it becomes a Lender (or, following that date, by not
less than five Business Days’ written notice) as the office or offices through which it will
perform its obligations under this Agreement relating to the relevant Loans.

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

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

	 	 	“Reference Banks” means the principal London office of JPMorgan Chase Bank, National
Association.

	 	 	“Tariff Base” has the meaning given to it in, and will be calculated in accordance
with, the Fees Rules.
	 
	6.	 	In application of the above formulae, A, B, C and D will be included in the formulae as
percentages (i.e. 5% will be included in the formula as 5 and not as 0.05). A negative result
obtained by subtracting D from B shall be taken as zero. The resulting figures shall be
rounded to four decimal places.
	 
	7.	 	If requested by the Administrative Agent, each Reference Bank shall, as soon as practicable
after publication by the Financial Services Authority, supply to the Administrative Agent, the
rate of charge payable by such Reference Bank to the Financial

2

 

	 	 	Services Authority pursuant to the Fees Rules in respect of the relevant financial year of
the Financial Services Authority (calculated for this purpose by such Reference Bank as
being the average of the Fee Tariffs applicable to such Reference Bank for that financial
year) and expressed in pounds per £1,000,000 of the Tariff Base of such Reference Bank.
	 
	8.	 	Each Lender shall supply any information required by the Administrative Agent for the purpose
of calculating its Additional Cost Rate. In particular, but without limitation, each Lender
shall supply the following information in writing on or prior to the date on which it becomes
a Lender:
	 
	 	 	(a) the jurisdiction of its Facility Office; and
	 
	 	 	(b) any other information that the Administrative Agent may reasonably require for such
purpose.
	 
	 	 	Each Lender shall promptly notify the Administrative Agent in writing of any change to the
information provided by it pursuant to this paragraph.
	 
	9.	 	The percentages of each Lender for the purpose of A and C above and the rates of charge of
each Reference Bank for the purpose of E above shall be determined by the Administrative Agent
based upon the information supplied to it pursuant to paragraphs 7 and 8 above and on the
assumption that, unless a Lender notifies the Administrative Agent to the contrary, each
Lender’s obligations in relation to cash ratio deposits and Special Deposits are the same as
those of a typical bank from its jurisdiction of incorporation with a lending office in the
same jurisdiction as its Facility Office.
	 
	10.	 	The Administrative Agent shall have no liability to any Person if such determination results
in an Additional Cost Rate which over- or under-compensates any Lender and shall be entitled
to assume that the information provided by any Lender or Reference Bank pursuant to paragraphs
3, 7 and 8 above is true and correct in all respects.
	 
	11.	 	The Administrative Agent shall distribute the additional amounts received as a result of the
Mandatory Costs Rate to the Lenders on the basis of the Additional Cost Rate for each Lender
based on the information provided by each Lender and each Reference Bank pursuant to
paragraphs 3, 7 and 8 above.
	 
	12.	 	Any determination by the Administrative Agent pursuant to this Exhibit in relation to a
formula, the Mandatory Costs Rate, an Additional Cost Rate or any amount payable to a Lender
shall, in the absence of manifest error, be conclusive and binding on all parties hereto.
	 
	13.	 	The Administrative Agent may from time to time, after consultation with the Borrower and the
relevant Lenders, determine and notify to all parties any amendments which are required to be made
to this Exhibit in order to comply with any change in law, regulation or any requirements from time
to time imposed by the Bank of England, the Financial Services Authority or the European Central
Bank (or, in any case, any other authority which replaces all or any of its functions) and any such
determination shall, in the absence of manifest error, be conclusive and binding on all parties
hereto.

3

 

EXHIBIT E

EXHIBIT E-1

FORM OF U.S. TAX CERTIFICATE

(For Non-U.S. Lenders That Are Not Partnerships For U.S. Federal Income Tax Purposes)

     Reference is hereby made to the Credit Agreement (as amended, restated, supplemented or
otherwise modified and in effect from time to time, the “Credit Agreement”) dated as of March[__],
2011 among Robbins & Myers, Inc. (the “Borrower”), the Subsidiary Borrowers from time to time party
thereto, the Lenders from time to time party thereto and JPMorgan Chase Bank, N.A., as
Administrative Agent.

     Pursuant to the provisions of Section 2.17 of the Credit Agreement, the undersigned hereby
certifies that (i) it is the sole record and beneficial owner of the Loan(s) (as well as any
Note(s) evidencing such Loan(s)) in respect of which it is providing this certificate, (ii) it is
not a bank within the meaning of Section 881(c)(3)(A) of the Code, (iii) it is not a ten percent
shareholder of any Borrower within the meaning of Section 871(h)(3)(B) of the Code, (iv) it is not
a controlled foreign corporation related to any Borrower as described in Section 881(c)(3)(C) of
the Code and (v) the interest payments in question are not effectively connected with the
undersigned’s conduct of a U.S. trade or business.

     The undersigned has furnished the Administrative Agent and the Applicable Borrower with a
certificate of its non-U.S. person status on IRS Form W-8BEN. By executing this certificate, the
undersigned agrees that (1) if the information provided on this certificate changes, the
undersigned shall promptly so inform the Applicable Borrower and the Administrative Agent and (2)
the undersigned shall have at all times furnished the Applicable Borrower and the Administrative
Agent with a properly completed and currently effective certificate in either the calendar year in
which each payment is to be made to the undersigned, or in either of the two calendar years
preceding such payments.

     Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall
have the meanings given to them in the Credit Agreement.

	 	 	 	 
	[NAME OF LENDER]

 	 
	By:  	 	 
	 	Name:  	 	 
	 	Title:  	 	 
	 

Date: ________ __, 20__

 

 

EXHIBIT E-2

FORM OF U.S. TAX CERTIFICATE

(For Non-U.S. Lenders That Are Partnerships For U.S. Federal Income Tax Purposes)

     Reference is hereby made to the Credit Agreement (as amended, restated, supplemented or
otherwise modified and in effect from time to time, the “Credit Agreement”) dated as of March[__],
2011 among Robbins & Myers, Inc. (the “Borrower”), the Subsidiary Borrowers from time to time party
thereto, the Lenders from time to time party thereto and JPMorgan Chase Bank, N.A., as
Administrative Agent.

     Pursuant to the provisions of Section 2.17 of the Credit Agreement, the undersigned hereby
certifies that (i) it is the sole record owner of the Loan(s) (as well as any Note(s) evidencing
such Loan(s)) in respect of which it is providing this certificate, (ii) its partners/members are
the sole beneficial owners of such Loan(s) (as well as any Note(s) evidencing such Loan(s)), (iii)
with respect to the extension of credit pursuant to this Credit Agreement, neither the undersigned
nor any of its partners/members is a bank extending credit pursuant to a loan agreement entered
into in the ordinary course of its trade or business within the meaning of Section 881(c)(3)(A) of
the Code, (iv) none of its partners/members is a ten percent shareholder of any Borrower within the
meaning of Section 871(h)(3)(B) of the Code, (v) none of its partners/members is a controlled
foreign corporation related to any Borrower as described in Section 881(c)(3)(C) of the Code, and
(vi) the interest payments in question are not effectively connected with the undersigned’s or its
partners/members’ conduct of a U.S. trade or business.

     The undersigned has furnished the Administrative Agent and the Applicable Borrower with IRS
Form W-8IMY accompanied by an IRS Form W-8BEN from each of its partners/members claiming the
portfolio interest exemption. By executing this certificate, the undersigned agrees that (1) if
the information provided on this certificate changes, the undersigned shall promptly so inform the
Applicable Borrower and the Administrative Agent and (2) the undersigned shall have at all times
furnished the Applicable Borrower and the Administrative Agent with a properly completed and
currently effective certificate in either the calendar year in which each payment is to be made to
the undersigned, or in either of the two calendar years preceding such payments.

     Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall
have the meanings given to them in the Credit Agreement.

	 	 	 	 
	[NAME OF LENDER]

 	 
	By:  	 	 
	 	Name:  	 	 
	 	Title:  	 	 
	 

Date: ________ __, 20__

2

 

EXHIBIT E-3

FORM OF U.S. TAX CERTIFICATE

(For Non-U.S. Participants That Are Not Partnerships

For U.S. Federal Income Tax Purposes)

     Reference is hereby made to the Credit Agreement (as amended, restated, supplemented or
otherwise modified and in effect from time to time, the “Credit Agreement”) dated as of March[__],
2011 among Robbins & Myers, Inc. (the “Borrower”), the Subsidiary Borrowers from time to time party
thereto, the Lenders from time to time party thereto and JPMorgan Chase Bank, N.A., as
Administrative Agent.

     Pursuant to the provisions of Section 2.17 of the Credit Agreement, the undersigned hereby
certifies that (i) it is the sole record and beneficial owner of the participation in respect of
which it is providing this certificate, (ii) it is not a bank within the meaning of Section
881(c)(3)(A) of the Code, (iii) it is not a ten percent shareholder of any Borrower within the
meaning of Section 871(h)(3)(B) of the Code, (iv) it is not a controlled foreign corporation
related to any Borrower as described in Section 881(c)(3)(C) of the Code, and (v) the interest
payments in question are not effectively connected with the undersigned’s conduct of a U.S. trade
or business.

     The undersigned has furnished its participating Lender with a certificate of its non-U.S.
person status on IRS Form W-8BEN. By executing this certificate, the undersigned agrees that (1)
if the information provided on this certificate changes, the undersigned shall promptly so inform
such Lender in writing and (2) the undersigned shall have at all times furnished such Lender with a
properly completed and currently effective certificate in either the calendar year in which each
payment is to be made to the undersigned, or in either of the two calendar years preceding such
payments.

     Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall
have the meanings given to them in the Credit Agreement.

	 	 	 	 
	[NAME OF LENDER]

 	 
	By:  	 	 
	 	Name:  	 	 
	 	Title:  	 	 
	 

Date: ________ __, 20__

3

 

EXHIBIT E-4

FORM OF U.S. TAX CERTIFICATE

(For Non-U.S. Participants That Are Partnerships For U.S. Federal Income Tax Purposes)

     Reference is hereby made to the Credit Agreement (as amended, restated, supplemented or
otherwise modified and in effect from time to time, the “Credit Agreement”) dated as of March[__],
2011 among Robbins & Myers, Inc. (the “Borrower”), the Subsidiary Borrowers from time to time party
thereto, the Lenders from time to time party thereto and JPMorgan Chase Bank, N.A., as
Administrative Agent.

     Pursuant to the provisions of Section 2.17 of the Credit Agreement, the undersigned hereby
certifies that (i) it is the sole record owner of the participation in respect of which it is
providing this certificate, (ii) its partners/members are the sole beneficial owners of such
participation, (iii) with respect such participation, neither the undersigned nor any of its
partners/members is a bank extending credit pursuant to a loan agreement entered into in the
ordinary course of its trade or business within the meaning of Section 881(c)(3)(A) of the Code,
(iv) none of its partners/members is a ten percent shareholder of any Borrower within the meaning
of Section 871(h)(3)(B) of the Code, (v) none of its partners/members is a controlled foreign
corporation related to any Borrower as described in Section 881(c)(3)(C) of the Code, and (vi) the
interest payments in question are not effectively connected with the undersigned’s or its
partners/members’ conduct of a U.S. trade or business.

     The undersigned has furnished its participating Lender with IRS Form W-8IMY accompanied by an
IRS Form W-8BEN from each of its partners/members claiming the portfolio interest exemption. By
executing this certificate, the undersigned agrees that (1) if the information provided on this
certificate changes, the undersigned shall promptly so inform such Lender and (2) the undersigned
shall have at all times furnished such Lender with a properly completed and currently effective
certificate in either the calendar year in which each payment is to be made to the undersigned, or
in either of the two calendar years preceding such payments.

     Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall
have the meanings given to them in the Credit Agreement.

	 	 	 	 
	[NAME OF PARTICIPANT]

 	 
	By:  	 	 
	 	Name:  	 	 
	 	Title:  	 	 
	 

Date: ________ __, 20__

4exv4w1

Exhibit 4.1

EXECUTION COPY

 

 

THE GREENBRIER COMPANIES, INC.,

as Issuer

AND

U.S. BANK NATIONAL ASSOCIATION,

as Trustee

INDENTURE

Dated as of April 5, 2011

3.50% Convertible Senior Notes due 2018

 

 

 

 

TABLE OF CONTENTS

	 	 	 	 	 	 	 
	 	 	 	 	Page	 
	 
	 	 	 	 	 	 
	ARTICLE 1 Definitions; Interpretations	 	 	1	 
	Section 1.01.
	 	Definitions	 	 	1	 
	Section 1.02.
	 	References to Interest	 	 	10	 
	ARTICLE 2 Issue, Description, Execution, Registration and Exchange of Notes	 	 	11	 
	Section 2.01.
	 	Designation and Amount	 	 	11	 
	Section 2.02.
	 	Form of Notes	 	 	11	 
	Section 2.03.
	 	Date and Denomination of Notes; Payments of Interest	 	 	11	 
	Section 2.04.
	 	Execution, Authentication and Delivery of Notes	 	 	13	 
	Section 2.05.
	 	Exchange and Registration of Transfer of Notes; Restrictions on Transfer; Depositary	 	 	13	 
	Section 2.06.
	 	Mutilated, Destroyed, Lost or Stolen Notes	 	 	18	 
	Section 2.07.
	 	Temporary Notes	 	 	19	 
	Section 2.08.
	 	Cancellation of Notes Paid, Etc.	 	 	20	 
	Section 2.09.
	 	CUSIP and ISIN Numbers	 	 	20	 
	Section 2.10.
	 	Additional Notes; Purchases	 	 	20	 
	ARTICLE 3 Satisfaction and Discharge	 	 	21	 
	Section 3.01.
	 	Satisfaction and Discharge	 	 	21	 
	Section 3.02.
	 	Deposited Monies To Be Held In Trust	 	 	21	 
	Section 3.03.
	 	Return Of Unclaimed Monies	 	 	21	 
	ARTICLE 4 Particular Covenants of the Company	 	 	22	 
	Section 4.01.
	 	Payment of Principal and Interest	 	 	22	 
	Section 4.02.
	 	Corporate Existence	 	 	22	 
	Section 4.03.
	 	Rule 144A Information Requirement and Reports	 	 	22	 

i

 

Table of Contents

(Continued)

	 	 	 	 	 	 	 
	 	 	 	 	Page	 
	 
	 	 	 	 	 	 
	Section 4.04.
	 	Compliance Certificate	 	 	23	 
	Section 4.05.
	 	Maintenance of Office or Agency	 	 	23	 
	Section 4.06.
	 	Paying Agents	 	 	23	 
	Section 4.07.
	 	Appointment to Fill Vacancy in Office of Trustee	 	 	24	 
	ARTICLE 5 Holders’ Lists and Reports by the Company and the Trustee	 	 	24	 
	Section 5.01.
	 	Company to Furnish Trustee Names and Addresses of Holders	 	 	24	 
	Section 5.02.
	 	Preservation Of Information; Communications With Holders	 	 	25	 
	Section 5.03.
	 	Reports by the Trustee	 	 	25	 
	ARTICLE 6 Default and Remedies	 	 	25	 
	Section 6.01.
	 	Events of Default	 	 	25	 
	Section 6.02.
	 	Acceleration of Maturity; Rescission and Annulment	 	 	27	 
	Section 6.03.
	 	Other Remedies	 	 	28	 
	Section 6.04.
	 	Waiver of Past Defaults	 	 	28	 
	Section 6.05.
	 	Control by Majority	 	 	29	 
	Section 6.06.
	 	Limitation On Suit	 	 	29	 
	Section 6.07.
	 	Unconditional Rights of Holders to Receive Payment and to Convert	 	 	30	 
	Section 6.08.
	 	Collection of Indebtedness and Suits For Enforcement By the Trustee	 	 	30	 
	Section 6.09.
	 	Trustee May File Proofs of Claim	 	 	31	 
	Section 6.10.
	 	Restoration of Rights and Remedies	 	 	31	 
	Section 6.11.
	 	Rights and Remedies Cumulative                                                                	 	 	32	 
	Section 6.12.
	 	Delay or Omission Not Waiver	 	 	32	 
	Section 6.13.
	 	Application of Money Collected	 	 	32	 

ii

 

Table of Contents

(Continued)

	 	 	 	 	 	 	 
	 	 	 	 	Page	 
	 
	 	 	 	 	 	 
	Section 6.14.
	 	Undertaking For Costs	 	 	32	 
	Section 6.15.
	 	Waiver of Stay or Extension Laws	 	 	33	 
	Section 6.16.
	 	Notice of Default	 	 	33	 
	ARTICLE 7 Concerning the Trustee	 	 	33	 
	Section 7.01.
	 	Certain Duties and Responsibilities of Trustee	 	 	33	 
	Section 7.02.
	 	Certain Rights of Trustee	 	 	34	 
	Section 7.03.
	 	Trustee Not Responsible for Recitals or Issuance or Notes	 	 	36	 
	Section 7.04.
	 	May Hold Notes	 	 	36	 
	Section 7.05.
	 	Moneys Held in Trust	 	 	36	 
	Section 7.06.
	 	Compensation and Reimbursement	 	 	37	 
	Section 7.07.
	 	Reliance on Officers’ Certificate and Opinions	 	 	37	 
	Section 7.08.
	 	Corporate Trustee Required; Eligibility	 	 	38	 
	Section 7.09.
	 	Resignation and Removal; Appointment of Successor	 	 	38	 
	Section 7.10.
	 	Acceptance of Appointment By Successor	 	 	39	 
	Section 7.11.
	 	Merger, Conversion, Consolidation or Succession to Business	 	 	40	 
	Section 7.12.
	 	Preferential Collection of Claims Against the Company	 	 	41	 
	ARTICLE 8 Concerning the Holders	 	 	41	 
	Section 8.01.
	 	Evidence of Action by Holders	 	 	41	 
	Section 8.02.
	 	Proof of Execution by Holders	 	 	41	 
	Section 8.03.
	 	Who May be Deemed Owners	 	 	42	 
	Section 8.04.
	 	Certain Notes Owned by Company Disregarded	 	 	42	 
	Section 8.05.
	 	Actions Binding on Future Holders	 	 	42	 
	ARTICLE 9 Amendments; Supplements And Waivers	 	 	43	 

iii

 

Table of Contents

(Continued)

	 	 	 	 	 	 	 
	 	 	 	 	Page	 
	 
	 	 	 	 	 	 
	Section 9.01.
	 	Without Consent of Holders	 	 	43	 
	Section 9.02.
	 	With Consent of Holders	 	 	44	 
	Section 9.03.
	 	Effect of Supplemental Indentures	 	 	45	 
	Section 9.04.
	 	Notes Affected by Supplemental Indentures	 	 	45	 
	Section 9.05.
	 	Execution of Supplemental Indentures	 	 	45	 
	ARTICLE 10 Consolidation; Merger; Conveyance; Transfer Or Lease	 	 	46	 
	Section 10.01.
	 	Company May Consolidate, Etc., Only on Certain Terms	 	 	46	 
	Section 10.02.
	 	Successor Substituted	 	 	46	 
	ARTICLE 11 Omitted	 	 	47	 
	ARTICLE 12 Additional Interest	 	 	47	 
	Section 12.01.
	 	Additional Interest	 	 	47	 
	ARTICLE 13 Conversion of Notes	 	 	48	 
	Section 13.01.
	 	Conversion Privilege and Conversion Rate	 	 	48	 
	Section 13.02.
	 	Make-Whole Fundamental Change Premium	 	 	49	 
	Section 13.03.
	 	Conversion Procedure	 	 	50	 
	Section 13.04.
	 	Fractional Shares	 	 	52	 
	Section 13.05.
	 	Taxes on Conversion	 	 	52	 
	Section 13.06.
	 	Company to Provide Common Stock	 	 	52	 
	Section 13.07.
	 	Adjustment of Conversion Rate	 	 	52	 
	Section 13.08.
	 	When No Adjustment is Required	 	 	58	 
	Section 13.09.
	 	Notice of Adjustment	 	 	59	 
	Section 13.10.
	 	Notice of Certain Transactions	 	 	59	 
	Section 13.11.
	 	Effect of Reclassification, Consolidation, Merger or Sale On Conversion Privilege	 	 	59	 

iv

 

Table of Contents

(Continued)

	 	 	 	 	 	 	 
	 	 	 	 	Page	 
	 
	 	 	 	 	 	 
	Section 13.12.
	 	Trustee’s Disclaimer	 	 	60	 
	Section 13.13.
	 	Voluntary Increase; NYSE Compliance	 	 	61	 
	Section 13.14.
	 	Rights Plan	 	 	61	 
	ARTICLE 14 Omitted	 	 	61	 
	ARTICLE 15 Omitted	 	 	61	 
	ARTICLE 16 Repurchase Of Notes Upon a Fundamental Change	 	 	61	 
	Section 16.01.
	 	Repurchase of Notes at Option of the Holder Upon a Fundamental Change	 	 	61	 
	Section 16.02.
	 	Withdrawal of Fundamental Change Repurchase Notice	 	 	63	 
	Section 16.03.
	 	Deposit of Fundamental Change Repurchase Price	 	 	64	 
	Section 16.04.
	 	Repayment to the Company	 	 	64	 
	Section 16.05.
	 	Notes Repurchased In Part	 	 	65	 
	Section 16.06.
	 	Covenant to Comply with Applicable Laws Upon Repurchase of Notes	 	 	65	 
	ARTICLE 17 Meeting Of Holders Of Notes	 	 	65	 
	Section 17.01.
	 	Purposes For Which Meetings May Be Called	 	 	65	 
	Section 17.02.
	 	Call Notice and Place of Meetings	 	 	65	 
	Section 17.03.
	 	Persons Entitled to Vote at Meetings	 	 	66	 
	Section 17.04.
	 	Quorum; Action	 	 	66	 
	Section 17.05.
	 	Determination of Voting Rights; Conduct and Adjournment of Meetings	 	 	66	 
	Section 17.06.
	 	Counting Votes and Recording Action of Meetings	 	 	67	 
	ARTICLE 18 Miscellaneous Provisions	 	 	68	 
	Section 18.01.
	 	Provisions Binding on Company’s Successors	 	 	68	 
	Section 18.02.
	 	Official Acts by Successor	 	 	68	 

v

 

Table of Contents

(Continued)

	 	 	 	 	 	 	 
	 	 	 	 	Page	 
	 
	 	 	 	 	 	 
	Section 18.03.
	 	Notices	 	 	68	 
	Section 18.04.
	 	Governing Law	 	 	68	 
	Section 18.05.
	 	Evidence of Compliance with Conditions Precedent; Certificates and Opinions of Counsel to Trustee	 	 	68	 
	Section 18.06.
	 	Legal Holidays	 	 	69	 
	Section 18.07.
	 	No Security Interest Created	 	 	69	 
	Section 18.08.
	 	Benefits of Indenture	 	 	69	 
	Section 18.09.
	 	Table of Contents, Headings, Etc.	 	 	69	 
	Section 18.10.
	 	Execution in Counterparts	 	 	69	 
	Section 18.11.
	 	Severability	 	 	70	 
	Section 18.12.
	 	Waiver of Jury Trial	 	 	70	 
	Section 18.13.
	 	Consent to Jurisdiction	 	 	70	 
	Section 18.14.
	 	Force Majeure	 	 	70	 
	Section 18.15.
	 	Calculations	 	 	70	 
	Section 18.16.
	 	U.S.A. Patriot Act	 	 	71	 
	Section 18.17.
	 	No Personal Liability of Stockholders, Employees, Officers or Directors	 	 	71	 

vi

 

     INDENTURE dated as of April 5, 2011 between The Greenbrier Companies, Inc., an Oregon
corporation, as issuer (the “Company”) and U.S. Bank National Association, a national banking
association, as trustee (the “Trustee”).

WITNESSETH:

     WHEREAS, for its lawful corporate purposes, the Company has duly authorized the issue of its
3.50% Convertible Senior Notes due 2018 (the “Notes”), initially in an aggregate principal amount
not to exceed $230,000,000, and in order to provide the terms and conditions upon which the Notes
are to be authenticated, issued and delivered, the Company has duly authorized the execution and
delivery of this Indenture;

     WHEREAS, the Form of Note, the certificate of authentication to be borne by each Note, the
Form of Notice of Conversion, the Form of Fundamental Change Repurchase Notice and the Form of
Assignment and Transfer to be borne by the Notes are to be substantially in the forms hereinafter
provided; and

     WHEREAS, all acts and things necessary to make the Notes, when executed by the Company and
authenticated and delivered by the Trustee or a duly authorized authenticating agent, as in this
Indenture provided, the valid, binding and legal obligations of the Company, and to constitute
these presents a valid agreement according to its terms, have been done and performed, and the
execution of this Indenture and the issue hereunder of the Notes have in all respects been duly
authorized.

     NOW, THEREFORE, THIS INDENTURE WITNESSETH:

     That in order to declare the terms and conditions upon which the Notes are, and are to be,
authenticated, issued and delivered, and in consideration of the premises and of the purchase and
acceptance of the Notes by the Holders thereof, the Company covenants and agrees with the Trustee
for the equal and proportionate benefit of the respective Holders from time to time of the Notes
(except as otherwise provided below), as follows:

ARTICLE 1

Definitions; Interpretations

          Section 1.01. Definitions. The terms defined in this Section 1.01 (except as herein otherwise
expressly provided or unless the context otherwise requires) for all purposes of this Indenture and
of any indenture supplemental hereto shall have the respective meanings specified in this Section
1.01. All other terms used in this Indenture that are defined in the Trust Indenture Act or that
are by reference therein defined in the Securities Act (except as herein otherwise expressly
provided or unless the context otherwise requires) shall have the meanings assigned to such terms
in said Trust Indenture Act and in the Securities Act as in force at the date of the execution of
this Indenture. The words “herein,” “hereof,” “hereunder,” and words of similar import refer to
this Indenture as a whole and not to any particular Article, Section or other subdivision. The
terms defined in this Article include the plural as well as the singular.

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Unless otherwise noted, references to “U.S. Dollars” or “$” shall mean the currency of the
United States.

      “Additional Interest” shall have the meaning specified in Section 12.01(a).

      “Additional Interest Event” shall have the meaning specified in Section 12.01(a).

      “Affiliate” of any specified Person means any other Person directly or indirectly controlling
or controlled by or under direct or indirect common control with such specified Person. For the
purposes of this definition, “control,” when used with respect to any specified Person means the
power to direct or cause the direction of the management and policies of such Person, directly or
indirectly, whether through the ownership of voting securities, by contract or otherwise; and the
terms “controlling” and “controlled” have meanings correlative to the foregoing.

      “Agent Members” shall have the meaning specified in Section 2.05(b).

      “Applicable Procedures” means, with respect to any conversion, repurchase, transfer or
exchange of beneficial ownership interests in a Global Note, the rules and procedures of the
Depositary, to the extent applicable to such conversion, transfer or exchange.

      “Bankruptcy Law” shall have the meaning specified in Section 6.01.

      “Board of Directors” means the Board of Directors of the Company or any duly authorized
committee of such Board.

      “Board Resolution” means a copy of a resolution certified by the Secretary or an Assistant
Secretary of the Company to have been duly adopted by the Board of Directors, and to be in full
force and effect on the date of such certification.

      “Business Day” means any day other than a Saturday, a Sunday or a day on which the Paying
Agent or the Federal Reserve Bank of New York is authorized or required by law or executive order
to close or be closed.

      “Capital Stock” of any Person means any and all shares, interests, rights to purchase,
warrants, options, participations or other equivalents of or interests in (however designated) the
equity of such Person, but excluding any debt securities convertible into such equity.

      “Cash” or “cash” means such coin or currency of the United States as at any time of payment is
legal tender for the payment of public and private debts.

      “Change of Control” means the occurrence of any of the following events from and after the
Issue Date:

     (i) the acquisition by any “person”, including any syndicate or group deemed to be a
“person” under Section 13(d)(3) of the Exchange Act, of beneficial ownership (determined in
accordance with the definition of “beneficial owner” in Rule 13d-3 under the Exchange Act),
directly or indirectly, through a purchase, merger or other acquisition

2

 

transaction or series of transactions of shares of the Company’s Capital Stock
entitling that person to exercise 50% or more of the total voting power of all shares of the
Company’s Voting Stock, other than any acquisition by the Company, any Subsidiary of the
Company or any of the Company’s employee benefit plans;

     (ii) any (A) recapitalization, reclassification or change of the Common Stock (other
than changes resulting from a subdivision or combination) as a result of which the Common
Stock would be converted into, or exchanged for, stock, other securities, other property or
assets or (B) share exchange with, consolidation with, or merger with or into, another
Person or any merger of another Person into the Company, or (C) conveyance, transfer, sale,
lease or other disposition of all or substantially all of the Company’s and its
Subsidiaries’ properties and assets to another Person; provided that any transaction (1)
pursuant to which holders of the Company’s Capital Stock immediately prior to a transaction
that is a share exchange, consolidation or merger have the entitlement to exercise, directly
or indirectly, 50% or more of the total voting power of all shares of the Voting Stock of
the continuing or surviving Person immediately after such transaction in substantially the
same proportions as such entitlement immediately prior to such transaction or (2) where
Common Stock is not changed or exchanged except to the extent necessary to reflect a change
in the Company’s jurisdiction of incorporation, shall in either case not be a Change of
Control pursuant to this clause (ii);

     (iii) the Company’s stockholders pass a resolution approving a plan of liquidation or
dissolution; or

     (iv) Continuing Directors cease to constitute at least a majority of the Board of
Directors.

     Notwithstanding anything to the contrary set forth herein, a Change of Control shall be deemed
not to have occurred if, in the case of a merger or consolidation, at least 90% of the
consideration (excluding cash payments for fractional shares and cash payments pursuant to
dissenters’ appraisal rights) received or to be received in connection with such merger or
consolidation constituting a Change of Control consists of shares of common stock traded or quoted
on any of The New York Stock Exchange, The NASDAQ Global Select Market or The NASDAQ Global Market
(or any of their respective successors), or which shall be so traded or quoted when issued or
exchanged in connection with such Change in Control, and as a result of the transaction or
transactions the Notes become convertible solely into such consideration, excluding cash payments
for fractional shares and cash payments pursuant to dissenters’ appraisal rights.

      “Clause A Distribution” shall have the meaning specified in Section 13.07(c).

      “Clause B Distribution” shall have the meaning specified in Section 13.07(c).

      “Clause C Distribution” shall have the meaning specified in Section 13.07(c).

      “close of business” means 5:00 p.m. (New York City time).

      “Commission” means the Securities and Exchange Commission.

3

 

      “Common Stock” means the shares of common stock of the Company, without par value, as it
exists on the date of this Indenture or any other shares of Capital Stock of the Company into which
the Common Stock shall be reclassified or changed.

      “Company” means The Greenbrier Companies, Inc., a corporation duly organized and existing
under the laws of the State of Oregon, until a successor Person shall replace it pursuant to the
applicable provisions of this Indenture, and thereafter “Company” shall mean such successor Person.

      “Company Order” means a written order of the Company, delivered to the Trustee and signed by
(a) two Officers of the Company or (b) one Officer of the Company and one of the Treasurer, any
Assistant Treasurer, the Secretary, any Assistant Secretary or the Controller of the Company.

      “Continuing Director” means a director who either was a member of the Board of Directors on
March 30, 2011 or who becomes a member of the Board of Directors subsequent to that date and whose
election, appointment or nomination for election by the stockholders of the Company is duly
approved by a majority of the Continuing Directors on the Board of Directors at the time of such
approval, either by a specific vote or by approval of the proxy statement issued by the Company on
behalf of the entire Board of Directors in which such individual is named as nominee for director.
Solely for purposes of this definition, the phrase “or a committee of such board duly authorized to
act for it hereunder” of the definition of Board of Directors shall be disregarded.

      “Conversion Agent” means the office or agency designated by the Company pursuant to Section
4.05 where Notes may be presented for conversion.

      “Conversion Date” shall have the meaning specified in Section 13.03(a).

      “Conversion Price” per share of Common Stock as of any day means the result obtained by
dividing (i) $1,000 by (ii) the then applicable Conversion Rate.

      “Conversion Rate” means the rate at which shares of Common Stock shall be delivered upon
conversion, which rate shall be initially 26.2838 shares of Common Stock for each $1,000 principal
amount of Notes, as adjusted from time to time pursuant to the provisions of this Indenture.

      “Corporate Trust Office” means the office of the Trustee at which, at any particular time, its
corporate trust business shall be principally administered, which office at the date hereof is
located at U.S. Bank Corporate Trust Services, 555 SW Oak Street, PD-OR-P6TD, Portland, Oregon
97204 or such other office as it shall notify the Company in writing.

      “Custodian” means the Trustee, as custodian for DTC, with respect to the Global Notes, or any
successor entity thereto.

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

4

 

      “Defaulted Interest” means any interest on any Note that is payable, but is not punctually
paid or duly provided for, on any April 1 or October 1.

      “Depositary” means, with respect to the Global Notes, the Person specified in Section 2.05(c)
as the Depositary with respect to such Notes, until a successor shall have been appointed and
become such pursuant to the applicable provisions of this Indenture, and thereafter, “Depositary”
shall mean or include such successor.

      “DTC” shall have the meaning specified in Section 2.05(c).

      “Event of Default” shall have the meaning specified in Section 6.01.

      “Ex-Dividend Date” means the first date on which shares of Common Stock trade on The New York
Stock Exchange, or on the applicable stock exchange on which Common Stock is then traded, regular
way, without the right to receive the issuance, dividend or distribution in question from the
Company.

      “Exchange Act” means the Securities Exchange Act of 1934 and the rules and regulations
promulgated thereunder, in each case as amended.

      “Expiration Date” shall have the meaning specified in Section 13.07(e).

      “Expiration Time” shall have the meaning specified in Section 13.07(e).

      “Form of Assignment and Transfer” shall mean the “Form of Assignment and Transfer” attached as
Attachment 3 to the Form of Note attached hereto as Exhibit A.

      “Form of Fundamental Change Repurchase Notice” shall mean the “Form of Fundamental Change
Repurchase Notice” attached as Attachment 2 to the Form of Note attached hereto as Exhibit A.

      “Form of Note” shall mean the “Form of Note” attached hereto as Exhibit A.

      “Form of Notice of Conversion” shall mean the “Form of Notice of Conversion” attached as
Attachment 1 to the Form of Note attached hereto as Exhibit A.

      “Fundamental Change” means the occurrence of either a Change of Control or a Termination of
Trading.

      “Fundamental Change Company Notice” shall have the meaning specified in Section 16.01(b).

      “Fundamental Change Effective Date” means the date on which any Fundamental Change becomes
effective.

      “Fundamental Change Repurchase Date” shall have the meaning specified in Section 16.01(a).

5

 

      “Fundamental Change Repurchase Notice” shall have the meaning specified in Section
16.01(c)(i).

      “Fundamental Change Repurchase Price” of any Note, means 100% of the principal amount of the
Note to be repurchased plus unpaid interest, if any, accrued and unpaid to, but excluding, the
Fundamental Change Repurchase Date; provided that if the Fundamental Change Repurchase Date is
after a Regular Record Date and on or prior to the corresponding Interest Payment Date, the
Fundamental Change Repurchase Price shall not include any accrued and unpaid interest.

      “Global Note” shall have the meaning specified in Section 2.05(b).

      “Holder” or “Holder of a Note” means the person in whose name a Note is registered on the Note
Registrar’s books.

      “Indenture” means this instrument as originally executed or, if amended or supplemented as
herein provided, as so amended or supplemented.

      “Initial Purchasers” means Merrill Lynch, Pierce, Fenner & Smith Incorporated and Goldman,
Sachs & Co.

      “Interest Payment Date” means each April 1 and October 1 of each year, beginning on October 1,
2011; provided, however, that if any Interest Payment Date falls on a date that is not a Business
Day, such payment of interest shall be postponed until the next succeeding Business Day, and no
interest or other amount shall be paid as a result of such postponement.

      “Issue Date” of any Note means the date on which the Note was originally issued or deemed
issued as set forth on the face of the Note.

      “Last Reported Sale Price” of the Common Stock on any date means the closing sale price per
share of the Common Stock (or if no closing sale price is reported, the average of the bid and ask
prices per share or, if more than one in either case, the average of the average bid and the
average ask prices per share) on such date reported in composite transactions for the primary
exchange or quotation system on which the Common Stock is then traded or quoted. If the Common
Stock is not so traded or quoted on such date, the “Last Reported Sale Price” shall be the last
quoted bid price for the Common Stock in the over-the-counter market on the relevant date as
reported by Pink OTC Markets Inc. or a similar organization. If the Common Stock is not so quoted,
the “Last Reported Sale Price” shall be the average of the mid-point of the last bid and ask prices
for the Common Stock on such date from each of at least three nationally recognized independent
investment banking firms selected by the Company for this purpose.

      “Make-Whole Fundamental Change” means any Fundamental Change (other than pursuant to clauses
(iii) and (iv) of the definition of Change of Control) where, if applicable, more than 10% of the
consideration (excluding cash payments for fractional shares and cash payments pursuant to
dissenters’ appraisal rights) received or to be received by the shareholders of the Company in
connection with such Fundamental Change consists of cash or assets other than common stock traded
or quoted on any of The New York Stock Exchange, The NASDAQ Global Select Market or The NASDAQ
Global Market (or any of their respective successors).

6

 

      “Make-Whole Fundamental Change Effective Date” means the date on which any Make-Whole
Fundamental Change becomes effective.

      “Make-Whole Fundamental Change Notice” shall have the meaning specified in Section 13.01(d).

      “Make-Whole Fundamental Change Premium” shall have the meaning specified in Section 13.02.

      “Market Disruption Event” means (a) a failure by the primary exchange or quotation system on
which the Common Stock trades or is quoted to open for trading during its regular trading session
or (b) the occurrence or existence, prior to 1:00 p.m., New York City time, on any Trading Day for
the Common Stock, of an aggregate one half-hour period of any suspension or limitation imposed on
trading (by reason of movements in price exceeding limits permitted by the stock exchange or
otherwise) in the Common Stock or in any options, contracts or future contracts relating to the
Common Stock.

      “Maturity Date” means April 1, 2018.

      “Note” or “Notes” shall have the meaning specified in the first “Whereas” clause of this
Indenture.

      “Note Register” shall have the meaning specified in Section 2.05(a).

      “Note Registrar” shall have the meaning specified in Section 2.05(a).

      “Offering Memorandum” means the final offering memorandum dated March 30, 2011, relating to
the offering and sale of the Notes pursuant to the Purchase Agreement.

      “Officer” means, with respect to the Company, the President, the Chief Executive Officer, the
Chief Financial Officer, the Secretary, any Executive or Senior Vice President or any Vice
President (whether or not designated by a number or numbers or word or words added before or after
the title “Vice President”).

      “Officers’ Certificate,” when used with respect to the Company, means a certificate that is
delivered to the Trustee and that is signed by (a) two Officers of the Company or (b) one Officer
of the Company and one of the Treasurer, any Assistant Treasurer, the Secretary, any Assistant
Secretary or the Controller of the Company. Each such certificate shall include the statements
provided for in Section 18.05 if and to the extent required by the provisions of such Section. One
of the Officers giving an Officers’ Certificate pursuant to Section 4.04 shall be the principal
executive, financial or accounting officer of the Company.

      “open of business” means 9:00 a.m. (New York City time).

      “Opinion of Counsel” means a written opinion, subject to customary exceptions, from legal
counsel who is reasonably acceptable to the Trustee that is delivered to the Trustee in accordance
with the terms hereof. The counsel may be an employee of or counsel to the

7

 

Company or the Trustee. Each such opinion shall include the statements provided for in
Section 18.05 if and to the extent required by the provisions thereof.

      “Outstanding,” when used with reference to Notes, shall, subject to the provisions of Section
8.04, mean, as of any particular time, all Notes authenticated and delivered by the Trustee under
this Indenture, except:

     (i) Notes theretofore canceled by the Trustee or accepted by the Trustee for
cancellation;

     (ii) Notes, or portions thereof, that have become due and payable and in respect of
which monies in the necessary amount shall have been deposited in trust with the Trustee or
with any Paying Agent (other than the Company) or shall have been set aside and segregated
in trust by the Company (if the Company shall act as its own Paying Agent);

     (iii) Notes that have been paid pursuant to Section 2.08 or Notes in lieu of which, or
in substitution for which, other Notes shall have been authenticated and delivered pursuant
to the terms of Section 2.06 unless proof satisfactory to the Trustee is presented that any
such Notes are held by protected purchasers in due course;

     (iv) Notes converted pursuant to Article 13 and required to be canceled pursuant to
Section 2.08; and

     (v) Notes repurchased by the Company pursuant to the penultimate sentence of Section
2.10.

      “Paying Agent” means the office or agency designated by the Company pursuant to Section 4.05
where Notes may be presented for payment.

      “Person” or “person” means any individual, corporation, partnership, limited liability
company, joint venture, association, joint-stock company, trust, unincorporated organization,
government or any agency or political subdivision thereof or any syndicate or group that would be
deemed to be a “person” under Section 13(d)(3) of the Exchange Act or any other entity.

      “Physical Notes” means certificated Notes in registered form issued in denominations of $2,000
principal amount and greater integral multiples of $1,000.

      “Predecessor Note” of any particular Note means every previous Note evidencing all or a
portion of the same debt as that evidenced by such particular Note; and, for the purposes of this
definition, any Note authenticated and delivered under Section 2.06 in lieu of or in exchange for a
mutilated, lost, destroyed or stolen Note shall be deemed to evidence the same debt as the
mutilated, lost, destroyed or stolen Note that it replaces.

      “Purchase Agreement” means that certain Purchase Agreement, dated as of March 30, 2011, among
the Company and the Initial Purchasers.

      “Receiver” shall have the meaning specified in Section 6.01.

8

 

      “Reference Property” shall have the meaning specified in Section 13.11.

      “Regular Record Date” means, with respect to any Interest Payment Date, the March 15 or
September 15 (whether or not such day is a Business Day) immediately preceding such Interest
Payment Date.

      “Resale Restriction Termination Date” shall have the meaning specified in Section 2.05(c).

      “Responsible Officer” means any officer within the corporate trust department of the Trustee,
including any vice president, assistant vice president, assistant secretary, assistant treasurer,
trust officer or any other officer of the Trustee who customarily performs functions similar to
those performed by the Persons who at the time shall be such officers, respectively, or to whom any
corporate trust matter is referred because of such Person’s knowledge of and familiarity with the
particular subject and who shall have direct responsibility for the administration of this
Indenture.

      “Restricted Securities” shall have the meaning specified in Section 2.05(c).

      “Restrictive Legend” means the legend set forth in Section 2.05(c).

      “Rights” means any common stock or preferred stock purchase right or warrant, as the case may
be, that all or substantially all shares of Common Stock may be entitled to receive under a Rights
Plan.

      “Rights Plan” means any common stock or preferred stock rights plan or any similar plan in
effect as of the date of this Indenture or adopted by the Company after the date hereof or any
replacement or successor rights plan.

      “Rule 144” means Rule 144 as promulgated under the Securities Act.

      “Rule 144A” means Rule 144A as promulgated under the Securities Act.

      “Securities Act” means the Securities Act of 1933 and the rules and regulations promulgated
thereunder, in each case as amended.

      “Significant Subsidiary” means any Subsidiary of the Company that satisfies the criteria of a
“significant subsidiary” set forth in Rule 1-02(w) of Regulation S-X under the Exchange Act.

      “Special Interest” shall have the meaning specified in Section 6.02.

      “Spin-Off” shall have the meaning specified in Section 13.07(c).

      “Stock Price” means the price paid or deemed to be paid per share of the Common Stock in
connection with a Make-Whole Fundamental Change, subject to adjustment and as determined pursuant
to Section 13.02.

9

 

      “Subsidiary” means, with respect to any Person, any corporation, association, partnership or
other business entity of which more than 50% of the total voting power of shares of Capital Stock
or other interests (including partnership interests) entitled (without regard to the occurrence of
any contingency) to vote in the election of directors, managers, general partners or trustees
thereof is at the time owned or controlled, directly or indirectly, by (i) such Person, (ii) such
Person and one or more Subsidiaries of such Person or (iii) one or more Subsidiaries of such
Person.

      “Termination of Trading” means the Common Stock (or other common stock into which the Notes
are convertible) ceases to be listed or quoted on any of The New York Stock Exchange, The NASDAQ
Global Select Market or The NASDAQ Global Market (or any of their respective successors).

      “Trading Day” means a day during which trading in the Common Stock generally occurs on the
primary exchange or quotation system on which the Common Stock is then traded or quoted and there
is no Market Disruption Event or, if the Common Stock is not then so traded or quoted, on the
principal other market on which the Common Stock is then traded. If the Common Stock is not so
traded, “Trading Day” means a Business Day.

      “transfer” shall have the meaning specified in Section 2.05(c).

      “Trigger Event” shall have the meaning specified in Section 13.07(c).

      “Trust Indenture Act” means the Trust Indenture Act of 1939, as amended.

      “Trustee” means the Person named as the “Trustee” in the first paragraph of this Indenture
until a successor Trustee shall have become such pursuant to the applicable provisions of this
Indenture, and thereafter “Trustee” shall mean or include each Person who is then a Trustee
hereunder.

      “United States” means the United States of America.

      “Valuation Period” shall have the meaning specified in Section 13.07(c).

      “Voting Stock” of a Person means all classes of Capital Stock of such Person then outstanding
and entitled (without regard to the occurrence of any contingency within the control of such person
to satisfy) to vote generally in the election of directors, managers or trustees thereof.

          Section 1.02. References to Interest. Any reference to the payment of interest on, or in
respect of, any Note in this Indenture shall be deemed to include mention of the payment of Special
Interest (if applicable) and Additional Interest (if applicable) if, in such context, Special
Interest and Additional Interest, as applicable, was, or would be, payable pursuant to Section 6.02
and Section 12.01, respectively. An express mention of the payment of Special Interest (if
applicable) or Additional Interest (if applicable) in any provision hereof shall not be construed
as excluding Additional Interest or Special Interest, as applicable, in those provisions hereof
where such express mention is not made.

10

 

ARTICLE 2

Issue, Description, Execution, Registration and Exchange of Notes

          Section 2.01. Designation and Amount. The Notes shall be designated as the “3.50% Convertible
Senior Notes due 2018.” The aggregate principal amount of Notes that may be authenticated and
delivered under this Indenture is initially limited to $230,000,000, subject to Section 2.10 and
except for Notes authenticated and delivered upon registration or transfer of, or in exchange for,
or in lieu of other Notes pursuant to Section 2.05, Section 2.06, Section 2.07, Section 9.04,
Section 13.03(e) and Section 16.05.

          Section 2.02. Form of Notes. The Notes and the Trustee’s certificate of authentication to be
borne by such Notes shall be substantially in the respective forms set forth in Exhibit A, which
are incorporated in and made a part of this Indenture.

     Any of the Notes may have such letters, numbers or other marks of identification and such
notations, legends or endorsements as the Officer executing the same may approve (execution thereof
to be conclusive evidence of such approval) and as are not inconsistent with the provisions of this
Indenture, or as may be required to comply with any law or with any rule or regulation made
pursuant thereto or with any rule or regulation of any securities exchange or automated quotation
system on which the Notes may be listed or designated for issuance, or as may be required by the
Custodian or the Depositary, or to conform to usage or to indicate any special limitations or
restrictions to which any particular Notes are subject.

     The Global Note shall represent such principal amount of the Outstanding Notes as shall be
specified therein and shall provide that it shall represent the aggregate principal amount of
Outstanding Notes from time to time endorsed thereon and that the aggregate principal amount of
Outstanding Notes represented thereby may from time to time be increased or reduced to reflect
repurchases, conversions, transfers, exchanges or issuances of additional Notes permitted hereby.
Any endorsement of the Global Note to reflect the amount of any increase or decrease in the amount
of Outstanding Notes represented thereby shall be made by the Trustee or the Custodian, at the
direction of the Trustee, in such manner and upon written instructions given by the Holder of such
Notes in accordance with this Indenture. Payment of principal (including any Fundamental Change
Repurchase Price, if applicable) of, and accrued and unpaid interest, if any, on, the Global Note
shall be made to the Holder of such Note on the date of payment, unless a record date or other
means of determining Holders eligible to receive payment is provided for herein.

     The terms and provisions contained in the Form of Note attached as Exhibit A hereto shall
constitute, and are hereby expressly made, a part of this Indenture and, to the extent applicable,
the Company and the Trustee, by their execution and delivery of this Indenture, expressly agree to
such terms and provisions and to be bound thereby.

          Section 2.03. Date and Denomination of Notes; Payments of Interest. The Notes shall be
issuable in registered form without coupons in denominations of $2,000 principal amount and greater
integral multiples of $1,000. Each Note shall be dated the date of its authentication and shall
bear interest from the date specified on the face of the Form of Note

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attached as Exhibit A hereto. Interest on the Notes shall be computed on the basis of a
360-day year comprised of twelve 30-day months.

     The Person in whose name any Note (or its Predecessor Note) is registered on the Note Register
at the close of business on any Regular Record Date with respect to any Interest Payment Date shall
be entitled to receive the interest payable on such Interest Payment Date. Interest shall be
payable at the office of the Paying Agent, which shall initially be the Corporate Trust Office of
the Trustee as the Company’s Paying Agent and Note Registrar. The Company shall pay interest on
any Physical Notes (i) to the Person entitled thereto having an aggregate principal amount of
$2,000,000 or less, by check mailed to such Person at the address set forth in the Note Register
and (ii) to the Person entitled thereto having an aggregate principal amount of more than
$2,000,000, either by check mailed to such Person or, upon application by such Person to the Note
Registrar not later than the relevant Regular Record Date, by wire transfer in immediately
available funds to such Person’s account within the United States, which application and wire
transfer instructions shall remain in effect until such Person notifies, in writing, the Note
Registrar to the contrary.

     Any Defaulted Interest shall forthwith cease to be payable to the Holder of such Note on the
relevant Regular Record Date by virtue of its having been such Holder, and such Defaulted Interest
shall be paid by the Company, at its election in each case, as provided in clause (1) or (2) below:

     (1) The Company may elect to make payment of any Defaulted Interest to the Persons in whose
names the Notes (or their respective Predecessor Notes) are registered at the close of business on
a special record date for the payment of such Defaulted Interest, which shall be fixed in the
following manner. The Company shall notify the Trustee in writing of the amount of Defaulted
Interest proposed to be paid on each Note and the date of the proposed payment (which shall be not
less than 20 days after the receipt by the Trustee of such notice, unless the Trustee shall consent
to an earlier date), and at the same time the Company shall deposit with the Trustee an amount of
money equal to the aggregate amount to be paid in respect of such Defaulted Interest or shall make
arrangements satisfactory to the Trustee for such deposit on or prior to the date of the proposed
payment, such money when deposited to be held in trust for the benefit of the Persons entitled to
such Defaulted Interest as in this clause provided.

Thereupon the Company shall fix a special record date for the payment of such Defaulted Interest
which shall be not more than fifteen days and not less than ten days prior to the date of the
proposed payment, and not less than ten days after the receipt by the Trustee of the notice of the
proposed payment. The Company shall promptly notify the Trustee in writing of such special record
date and the Trustee, in the name and at the expense of the Company, shall cause notice of the
proposed payment of such Defaulted Interest and the special record date therefor to be sent or
mailed, first-class postage prepaid, to each Holder at its address as it appears in the Note
Register, not less than ten days prior to such special record date. Notice of the proposed payment
of such Defaulted Interest and the special record date therefor having been so mailed, such
Defaulted Interest shall be paid to the Persons in whose names the Notes (or their respective
Predecessor Notes) are registered at the close of business on such special record date and shall no
longer be payable pursuant to the following clause (2) of this Section 2.03.

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     (2) The Company may make payment of any Defaulted Interest in any other lawful manner not
inconsistent with the requirements of any securities exchange or automated quotation system on
which the Notes may be listed or designated for issuance, and upon such notice as may be required
by such exchange or automated quotation system, if, after written notice given by the Company to
the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed
practicable by the Trustee.

          Section 2.04. Execution, Authentication and Delivery of Notes. The Notes shall be signed in
the name and on behalf of the Company by the manual or facsimile signature of any Officer.

     At any time and from time to time after the date of the execution and delivery of this
Indenture, the Company may, in accordance with the terms of this Indenture, deliver additional
Notes executed by the Company to the Trustee for authentication, together with a Company Order for
the authentication and delivery of such Notes, and the Trustee in accordance with such Company
Order shall authenticate and deliver such Notes, without any further action by the Company
hereunder.

     Only such Notes as shall bear thereon a certificate of authentication substantially in the
form set forth on the Form of Note attached as Exhibit A hereto, executed manually by a Responsible
Officer of the Trustee (or an authorized officer of an authenticating agent appointed by the
Trustee), shall be entitled to the benefits of this Indenture or be valid or obligatory for any
purpose. Such certificate of authentication executed by the Trustee (or such an authenticating
agent) upon any Note executed by the Company shall be conclusive evidence that the Note so
authenticated has been duly authenticated and delivered hereunder and that the Holder is entitled
to the benefits of this Indenture.

     All Notes shall be dated that date of their authentication.

     In case any Officer of the Company who shall have signed any of the Notes shall cease to be
such Officer before the Notes so signed shall have been authenticated and delivered by the Trustee,
or disposed of by the Company, such Notes nevertheless may be authenticated and delivered or
disposed of as though the Person who signed such Notes had not ceased to be such Officer of the
Company; and any Note may be signed on behalf of the Company by such Person as, at the actual date
of the execution of such Note, shall be an Officer of the Company, although at the date of the
execution of this Indenture any such person was not such an Officer.

     The Trustee shall have the right to decline to authenticate and deliver any Notes under this
Indenture if the Trustee, being advised by counsel, determines that such action may not lawfully be
taken or if the Trustee in good faith shall determine that such action would expose the Trustee to
personal liability to existing Holders.

          Section 2.05. Exchange and Registration of Transfer of Notes; Restrictions on Transfer;
Depositary. (a) The Company shall cause to be kept at the Corporate Trust Office a register (the
register maintained in such office or in any other office or agency of the Company being herein
sometimes collectively referred to as the “Note Register”) in which, subject to such reasonable
regulations as it may prescribe, the Company shall provide

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for the registration of Notes and of transfers of Notes. The Note Register shall be in
written form or in any form capable of being converted into written form within a reasonable period
of time. The Trustee is hereby appointed “Note Registrar” for the purpose of registering Notes and
transfers of Notes as herein provided. The Company may appoint a new Note Registrar without prior
notice to Holders. The Company may appoint one or more co-registrars.

     Upon surrender for registration of transfer of any Note to the Note Registrar or any
co-registrar, and satisfaction of the requirements for such transfer set forth in this Section
2.05, the Company shall execute, and the Trustee shall authenticate and deliver, in the name of the
designated transferee or transferees, one or more new Notes of any authorized denominations and of
a like aggregate principal amount.

     Upon the registration of transfer, exchange or replacement of Notes not bearing or deemed not
to bear the Restrictive Legend, the Note Registrar shall deliver Notes that do not bear the
Restrictive Legend. Upon the registration of transfer, exchange or replacement of Notes bearing the
Restrictive Legend, the Note Registrar shall deliver only Notes that bear the Restrictive Legend
unless there is delivered to the Note Registrar an Opinion of Counsel reasonably satisfactory to
the Company and the Trustee to the effect that neither the Restrictive Legend nor the related
restrictions on transfer are required in order to maintain compliance with the provisions of the
Securities Act.

     Notes may be exchanged for other Notes of any authorized denominations and of a like aggregate
principal amount, upon surrender of the Notes to be exchanged at any such office or agency
maintained by the Company pursuant to Section 4.05. Whenever any Notes are so surrendered for
exchange, the Company shall execute, and the Trustee shall authenticate and deliver, the Notes that
the Holder making the exchange is entitled to receive, bearing registration numbers not
contemporaneously outstanding.

     All Notes presented or surrendered for registration of transfer or for exchange, purchase or
conversion shall (if so required by the Company, the Trustee, the Note Registrar or any
co-registrar) be duly endorsed, or be accompanied by a written instrument or instruments of
transfer in form satisfactory to the Company and duly executed, by the Holder thereof or its
attorney-in-fact duly authorized in writing.

     No service charge shall be charged by the Company, the Trustee or the Notes Registrar to the
Holder for any exchange or registration of transfer of Notes, but the Holder may be required by the
Company, the Trustee, the Notes Registrar or otherwise to pay a sum sufficient to cover any tax,
assessments or other governmental charges that may be imposed in connection therewith as a result
of the name of the Holder of the new Notes issued upon such exchange or registration of transfer of
Notes being different from the name of the Holder of the old Notes presented or surrendered for
such exchange or registration of transfer.

     None of the Company, the Trustee, the Note Registrar or any co-registrar shall be required to
exchange or register a transfer of any Notes surrendered for conversion or repurchase except for
any portion of that Note that is not being repurchased or converted, as the case may be.

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     All Notes issued upon any registration of transfer or exchange of Notes in accordance with
this Indenture shall be the valid obligations of the Company, evidencing the same debt, and
entitled to the same benefits under this Indenture as the Notes surrendered upon such registration
of transfer or exchange. For greater certainty, all Notes issued upon any registration of transfer
or exchange of Notes shall be issued as evidence of the same continuing indebtedness of the Company
under this Indenture and in no circumstances is the Company obligated under the Indenture to repay
the principal amount of the exchanged Notes by virtue of the registration of a transfer or
exchange.

     (b) So long as the Notes are eligible for book-entry settlement with the Depositary, unless
otherwise required by law or except as provided in Section 2.05(c), all Notes shall be represented
by one or more Notes in global form (each, a “Global Note”) registered in the name of the
Depositary or the nominee of the Depositary. The transfer and exchange of beneficial interests in
a Global Note that does not involve the issuance of a Physical Note shall be effected through the
Depositary (but not the Trustee or the Custodian) in accordance with this Indenture (including the
restrictions on transfer set forth herein) and the procedures of the Depositary therefor.
Beneficial interests in the Global Note shall be held only in minimum denominations of $2,000 and
greater integral multiples of $1,000. Members of, or participants in, the Depositary (“Agent
Members”) shall have no rights under this Indenture with respect to any Global Note held on their
behalf by the Depositary, or the Trustee as its custodian, or under the Global Note, and the
Depositary may be treated by the Company, the Trustee and any agent of the Company or the Trustee
as the absolute owner of the Global Note for all purposes whatsoever. Notwithstanding the
foregoing, nothing herein shall prevent the Company, the Trustee or any agent of the Company or the
Trustee from giving effect to any written certification, proxy or other authorization furnished by
the Depositary or impair, as between the Depositary and its Agent Members, the operation of
customary practices governing the exercise of the rights of any Holder.

     (c) Every Note that bears or is required under this Section 2.05(c) to bear the Restrictive
Legend (together with any Common Stock issued upon conversion of the Notes and required to bear a
similar legend, the “Restricted Securities”) shall be subject to the restrictions on transfer set
forth in this Section 2.05(c) (including the restrictions set forth in the Restrictive Legend), and
the holder of each such Restricted Security, by such holder’s acceptance thereof, agrees to be
bound by all such restrictions on transfer. As used in this Section 2.05(c), the term “transfer”
encompasses any sale, pledge, transfer or other disposition whatsoever of any Restricted Security.

     Until the date (the “Resale Restriction Termination Date”) that is the later of (1) the date
that is one year after the Issue Date of a Note (including, if applicable, through exercise by the
Initial Purchasers of their option to purchase additional Notes pursuant to the Purchase Agreement)
and (2) such later date, if any, as may be required by applicable laws, any certificate evidencing
such Note (and all securities issued in exchange therefor or substitution thereof, and all shares
of Common Stock, if any, issued upon conversion thereof, if applicable) shall bear a legend in
substantially the following form (unless such Note or shares of Common Stock, if any, have been
transferred pursuant to a registration statement that has become or been declared effective under
the Securities Act and that continues to be effective at the time of such transfer, pursuant to the
exemption from registration provided by Rule 144 or any similar provision then

15

 

in force under the Securities Act, or unless otherwise agreed by the Company in writing, with
written notice thereof to the Trustee):

     THE SECURITY (OR ITS PREDECESSOR) EVIDENCED HEREBY WAS ORIGINALLY ISSUED IN A TRANSACTION
EXEMPT FROM REGISTRATION UNDER SECTION 5 OF THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED
(THE “SECURITIES ACT”), AND THE SECURITY EVIDENCED HEREBY MAY NOT BE OFFERED, SOLD OR OTHERWISE
TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION OR AN APPLICABLE EXEMPTION THEREFROM. EACH
PURCHASER OF THE SECURITY EVIDENCED HEREBY IS HEREBY NOTIFIED THAT THE SELLER MAY BE RELYING ON THE
EXEMPTION FROM THE PROVISIONS OF SECTION 5 OF THE SECURITIES ACT PROVIDED BY RULE 144A THEREUNDER.
THE HOLDER OF THE SECURITY EVIDENCED HEREBY AGREES FOR THE BENEFIT OF THE COMPANY THAT (A) SUCH
SECURITY, MAY BE RESOLD, PLEDGED OR OTHERWISE TRANSFERRED, ONLY (1)(a) INSIDE THE UNITED STATES TO
A PERSON WHO THE SELLER REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER (AS DEFINED IN RULE
144A UNDER THE SECURITIES ACT) PURCHASING FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED
INSTITUTIONAL BUYER IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144A UNDER THE SECURITIES
ACT, (b) OUTSIDE THE UNITED STATES TO A NON-U.S. PERSON IN A TRANSACTION MEETING THE REQUIREMENTS
OF RULE 903 OR RULE 904 OF REGULATION S UNDER THE SECURITIES ACT, (c) PURSUANT TO AN EXEMPTION FROM
REGISTRATION UNDER THE SECURITIES ACT PROVIDED BY RULE 144 THEREUNDER (IF APPLICABLE) OR (d) IN
ACCORDANCE WITH ANOTHER EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT (AND
BASED UPON AN OPINION OF COUNSEL ACCEPTABLE TO THE COMPANY IF THE COMPANY SO REQUESTS), (2) TO THE
COMPANY OR (3) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT AND, IN EACH CASE, IN ACCORDANCE
WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE
JURISDICTION AND (B) THE HOLDER WILL, AND EACH SUBSEQUENT HOLDER IS REQUIRED TO, NOTIFY ANY
PURCHASER OF THE SECURITY EVIDENCED HEREBY OF THE RESALE RESTRICTIONS SET FORTH IN CLAUSE (A)
ABOVE. NO REPRESENTATION CAN BE MADE AS TO THE AVAILABILITY OF THE EXEMPTION PROVIDED BY RULE 144
FOR RESALE OF THE SECURITY EVIDENCED HEREBY.

     Any Common Stock issued upon conversion of any Note prior to the Resale Restriction
Termination Date shall bear a legend in form and substance similar to the Restrictive Legend.

     No transfer of any Note prior to the Resale Restriction Termination Date will be registered by
the Note Registrar unless the applicable box on the Form of Assignment and Transfer has been
checked.

     Notwithstanding anything to the contrary contained in this Indenture or a Note (except for
Section 2.05(d)), after the Resale Restriction Termination Date with respect to a Note, such Note
(or security issued in exchange or substitution therefor) as to which such restrictions on transfer
shall have expired in accordance with their terms may, upon surrender of such Note for

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exchange to the Note Registrar in accordance with the provisions of this Section 2.05, be
exchanged for a new Note or Notes, of like tenor and aggregate principal amount, which shall not
bear the Restrictive Legend and the CUSIP number for which shall be the applicable unrestricted
CUSIP number.

     Notwithstanding any other provisions of this Indenture (other than the provisions set forth in
this Section 2.05(c)), a Global Note may not be transferred as a whole or in part except by the
Depositary to a nominee of the Depositary or by a nominee of the Depositary to the Depositary or
another nominee of the Depositary or by the Depositary or any such nominee to a successor
Depositary or a nominee of such successor Depositary.

     The Depositary shall be a clearing agency registered under the Exchange Act. The Company
initially appoints The Depository Trust Company (“DTC”) to act as Depositary with respect to the
Global Note. Initially, the Global Notes shall be issued to the Depositary, registered in the name
of Cede & Co., as the nominee of the Depositary, and deposited with the Trustee as custodian for
DTC.

     If (i) the Depositary notifies the Company at any time that the Depositary is unwilling or
unable to continue as depositary for the Global Notes and a successor depositary is not appointed
within 90 days, (ii) the Depositary ceases to be registered as a clearing agency under the Exchange
Act and a successor depositary is not appointed within 90 days or (iii) an Event of Default with
respect to the Notes has occurred and is continuing, in each case, upon the request of the
beneficial owner of the Notes, the Company shall execute, and the Trustee, upon receipt of an
Officers’ Certificate and a Company Order for the authentication and delivery of Notes, shall
authenticate and deliver Physical Notes to each such beneficial owner of the related Notes (or a
portion thereof) in an aggregate principal amount equal to the principal amount of such Global
Note, in exchange for such Global Note, and upon delivery of the Global Note to the Trustee such
Global Note shall be canceled.

     Physical Notes issued in exchange for all or a part of the Global Note pursuant to this
Section 2.05(c) shall be registered in such names and in such authorized denominations as the
Depositary, pursuant to instructions from its direct or indirect participants or otherwise, shall
instruct the Trustee in writing. Upon execution and authentication, the Trustee shall deliver such
Physical Notes to the Persons in whose names such Notes are so registered.

     At such time as all interests in a Global Note have been converted, canceled, repurchased or
transferred, such Global Note shall be, upon receipt thereof, canceled by the Trustee in accordance
with standing procedures and instructions existing between the Depositary and the Custodian. At
any time prior to such cancellation, if any interest in a Global Note is exchanged for Physical
Notes, converted, canceled, repurchased or transferred to a transferee who receives Physical Notes
therefor or any Physical Note is exchanged or transferred for part of such Global Note, the
principal amount of such Global Note shall, in accordance with the standing procedures and
instructions existing between the Depositary and the Custodian, be appropriately reduced or
increased, as the case may be, and an endorsement shall be made on such Global Note, by the Trustee
or the Custodian, at the direction of the Trustee, to reflect such reduction or increase.

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     None of the Company, the Trustee, nor any agent of the Company or the Trustee shall have any
responsibility or liability for any aspect of the records relating to or payments made on account
of beneficial ownership interests of a Global Note or maintaining, supervising or reviewing any
records relating to such beneficial ownership interests.

     (d) The Company may cause the removal of the Restrictive Legend from any Global Note at any
time on or after the Resale Restriction Termination Date by: (i) instructing the Trustee in writing
to remove the Restrictive Legend from such Global Note; (ii) providing to the Trustee and the
Depositary written notice to change the CUSIP number for the Notes to the applicable unrestricted
CUSIP number; and (iii) complying with any Applicable Procedures for delegending or otherwise
exchanging such Global Note for a Global Note not bearing the Restrictive Legend (including DTC’s
mandatory exchange process, if applicable); whereupon the Restrictive Legend shall be deemed
removed from any Global Notes and there shall be no requirement that any Common Stock into which
such Global Notes are convertible bear a legend in form and substance similar to the Restrictive
Legend, in each case without any further action on the part of the Holders.

     (e) The Trustee shall have no obligation or duty to monitor, determine or inquire as to
compliance with any restrictions on transfer imposed under this Indenture or under applicable law
with respect to any transfer of any interest in any Note (including any transfers between or among
Depositary participants or beneficial owners of interests in any Global Note) other than to require
delivery of such certificates and other documentation or evidence as are expressly required by, and
to do so if and when expressly required by the terms of, this Indenture, and to examine the same to
determine substantial compliance as to form with the express requirements hereof.

     (f) The Company shall not, and shall not permit any of its “affiliates” within the meaning of
Rule 144, to resell any of the Notes that constitute “restricted securities” under Rule 144 that
have been reacquired by them.

          Section 2.06. Mutilated, Destroyed, Lost or Stolen Notes. In case any Note shall become
mutilated or be destroyed, lost or stolen, the Company in its discretion may execute, and upon a
Company Order the Trustee or an authenticating agent appointed by the Trustee shall authenticate
and deliver, a new Note, bearing a number not contemporaneously outstanding, in exchange and
substitution for the mutilated Note, or in lieu of and in substitution for the Note so destroyed,
lost or stolen. In every case the applicant for a substituted Note shall furnish to the Company,
to the Trustee and, if applicable, to the authenticating agent, such security or indemnity as may
be required by them to save each of them harmless from any loss, liability, cost or expense caused
by or connected with such substitution, and, in every case of destruction, loss or theft, the
applicant shall also furnish to the Company, to the Trustee and, if applicable, to the
authenticating agent, evidence to their satisfaction of the destruction, loss or theft of such Note
and of the ownership thereof.

     The Trustee or the authenticating agent, if applicable, may authenticate any such substituted
Note and deliver the same upon the receipt of such security or indemnity as the Trustee, the
Company and, if applicable, the authenticating agent may require. Upon the issuance of any
substitute Note, the Company or the Trustee may require the payment by the

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Holder of a sum sufficient to cover any tax, assessment or other governmental charge that may
be imposed in relation thereto and any other expenses connected therewith. In case any Note that
has matured or is about to mature or has been tendered for repurchase upon a Fundamental Change or
is about to be converted shall become mutilated or be destroyed, lost or stolen, the Company may,
in its sole discretion, instead of issuing a substitute Note, pay or authorize the payment of or
convert or authorize the conversion of the same (without surrender thereof except in the case of a
mutilated Note), as the case may be, if the applicant for such payment or conversion shall furnish
to the Company, to the Trustee and, if applicable, to the authenticating agent, such security or
indemnity as may be required by them to save each of them harmless for any loss, liability, cost or
expense caused by or connected with such substitution, and, in every case of destruction, loss or
theft, evidence satisfactory to the Company, the Trustee and, if applicable, any Paying Agent or
Conversion Agent evidence of their satisfaction of the destruction, loss or theft of such Note and
of the ownership thereof.

     Every substitute Note issued pursuant to the provisions of this Section 2.06 by virtue of the
fact that any Note is destroyed, lost or stolen shall constitute an additional contractual
obligation of the Company, whether or not the destroyed, lost or stolen Note shall be found at any
time, and shall be entitled to all the benefits of (but shall be subject to all the limitations set
forth in) this Indenture equally and proportionately with any and all other Notes duly issued
hereunder. To the extent permitted by law, all Notes shall be held and owned upon the express
condition that the foregoing provisions are exclusive with respect to the replacement, payment,
conversion or repurchase of mutilated, destroyed, lost or stolen Notes and shall preclude any and
all other rights or remedies, notwithstanding any law or statute existing or hereafter enacted to
the contrary with respect to the replacement, payment or conversion of negotiable instruments or
other securities without their surrender.

     For greater certainty, every substitute Note issued pursuant to the provisions of this Section
2.06 by virtue of the fact that any Note is mutilated, destroyed, lost or stolen shall be issued as
evidence of the same continuing indebtedness of the Company under this Indenture and in no
circumstances is the Company obligated under the Indenture to repay the principal amount of the
substituted Note by virtue of such mutilation, destruction or loss.

          Section 2.07. Temporary Notes. Pending the preparation of Physical Notes, the Company may
execute and the Trustee or an authenticating agent appointed by the Trustee shall, upon written
request of the Company, authenticate and deliver temporary Notes (printed or lithographed).
Temporary Notes shall be issuable in any authorized denomination, and substantially in the form of
the Physical Notes but with such omissions, insertions and variations as may be appropriate for
temporary Notes, all as may be determined by the Company. Every such temporary Note shall be
executed by the Company and authenticated by the Trustee or such authenticating agent upon the same
conditions and in substantially the same manner, and with the same effect, as the Physical Notes.
Without unreasonable delay, the Company shall execute and deliver to the Trustee or such
authenticating agent Physical Notes (other than any Global Note) and thereupon any or all temporary
Notes (other than any Global Note) may be surrendered in exchange therefor, at each office or
agency maintained by the Company pursuant to Section 4.05 and the Trustee or such authenticating
agent shall authenticate and deliver in exchange for such temporary Notes an equal aggregate
principal amount of Physical Notes. Such exchange shall be made by the Company at its own expense
and without any charge

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therefor. Until so exchanged, the temporary Notes shall in all respects be entitled to the
same benefits and subject to the same limitations under this Indenture as Physical Notes
authenticated and delivered hereunder.

     For greater certainty, each Note issued pursuant to the provisions of this Section 2.07 in
exchange for a temporary Note shall be issued as evidence of the same continuing indebtedness of
the Company under this Indenture and in no circumstances is the Company obligated under the
Indenture to repay the principal amount of the temporary Note by virtue of the exchange.

          Section 2.08. Cancellation of Notes Paid, Etc. All Notes surrendered for the purpose of
payment, repurchase, conversion, exchange or registration of transfer, shall, if surrendered to the
Company or any Paying Agent or any Note Registrar or any Conversion Agent, be surrendered to the
Trustee and promptly canceled by it, or, if surrendered to the Trustee, shall be promptly canceled
by it, and no Notes shall be issued in lieu thereof except as expressly permitted by any of the
provisions of this Indenture. The Trustee shall dispose of canceled Notes in accordance with its
customary procedures and, after such cancellation, shall deliver a written confirmation of such
cancellation to the Company, at the Company’s written request. If the Company shall acquire any of
the Notes, such acquisition shall not operate as satisfaction of the indebtedness represented by
such Notes unless and until the same are delivered to the Trustee for cancellation.

          Section 2.09. CUSIP and ISIN Numbers. The Company in issuing the Notes may use “CUSIP” and
“ISIN” numbers (if then generally in use), and, if so, the Trustee shall use “CUSIP” and “ISIN”
numbers in all notices issued to Holders of the Notes as a convenience to such Holders; provided
that any such notice may state that no representation is made as to the correctness of such numbers
either as printed on the Notes or on such notice and that reliance may be placed only on the other
identification numbers printed on the Notes. The Company shall promptly notify the Trustee in
writing of any change in the “CUSIP” or “ISIN” numbers.

     Any Notes that are, when issued, Restricted Securities shall be issued with a restricted CUSIP
number. Until such time as the Restrictive Legend is removed from such Notes pursuant to the terms
of this Indenture, the restricted CUSIP shall be the CUSIP number for such Notes. After the Company
causes the removal of the Restrictive Legend from such Notes the CUSIP number for such Notes shall
be an unrestricted CUSIP number.

          Section 2.10. Additional Notes; Purchases. The Company may, without the consent of the
Holders of the Notes and notwithstanding Section 2.01, issue additional Notes hereunder with the
same terms and with the same CUSIP and ISIN number as the Notes initially issued hereunder in an
unlimited aggregate principal amount, which shall form the same series with the Notes initially
issued hereunder; provided that no such additional Notes may be issued unless they are fungible
with the Notes initially issued hereunder for U.S. federal income tax purposes. Prior to the
issuance of any such additional Notes, the Company shall deliver to the Trustee a Company Order, an
Opinion of Counsel (with respect to the enforceability of such additional notes) and an Officers’
Certificate to the effect that such issuance of additional Notes complies with the provisions of
the Indenture (including this Section 2.10). In addition, the Company may, to the extent permitted
by law, directly or indirectly (regardless of whether such

20

 

Notes are surrendered to the Company), from time to time purchase the Notes in open market
purchases or negotiated transactions without prior notice to Holders. The Company shall cause any
Notes so repurchased (other than Notes purchased pursuant to cash-settled swaps or other
derivatives) to be surrendered to the Trustee for cancellation in accordance with Section 2.08 and
any Notes so repurchased by the Company shall be deemed to be no longer Outstanding under this
Indenture.

ARTICLE 3

Satisfaction and Discharge

          Section 3.01. Satisfaction and Discharge. This Indenture shall upon request of the Company
contained in an Officers’ Certificate cease to be of further effect, and the Trustee, at the
expense of the Company, shall execute proper instruments acknowledging satisfaction and discharge
of this Indenture, when (a) (i) the Company delivers to the Trustee all Outstanding Notes (other
than Notes replaced pursuant to Section 2.06) for cancellation; or (ii) the Company has deposited
with the Trustee or delivered to Holders of Notes, as applicable, after the Notes have become due
and payable, whether at the Maturity Date or any Fundamental Change Repurchase Date, or upon
conversion or otherwise, cash and/or (in the case of conversion) shares of Common Stock (together
with cash in lieu of fractional shares), as applicable, sufficient to pay all of the Outstanding
Notes and all other sums payable under this Indenture by the Company; and (b) the Company has
delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that all
conditions precedent herein provided for relating to the satisfaction and discharge of this
Indenture have been complied with. Notwithstanding the satisfaction and discharge of this
Indenture, the obligations of the Company to the Trustee under Section 7.06 shall survive such
satisfaction and discharge.

          Section 3.02. Deposited Monies To Be Held In Trust. Subject to Section 3.03 hereof, all
monies deposited with the Trustee pursuant to Section 3.01 hereof shall be held in trust and
applied by it to the payment, either directly or through any Paying Agent (including the Company if
acting as its own Paying Agent), to the Holders for the payment of which such monies have been
deposited with the Trustee, of all sums due and to become due thereon for principal and interest.
All monies deposited with the Trustee pursuant to Section 3.01 hereof (and held by it or any Paying
Agent) for the payment of Notes subsequently converted shall be returned to the Company upon
written request of the Company.

          Section 3.03. Return Of Unclaimed Monies. The Trustee and the Paying Agent shall pay to the
Company upon written request any money held by them for the payment of principal of, or accrued and
unpaid interest on, the Notes that remains unclaimed for two years after the date upon which such
payment shall have become due. Notwithstanding the foregoing, the Trustee and Paying Agent shall
have the right to withhold payment of such money to the Company until the Trustee or Paying Agent
at the expense of the Company publishes in a newspaper of general circulation in New York City, or
mails to each Holder, a notice stating that such money shall be repaid to the Company if unclaimed
after a date no less than 30 days from the publication of such press release or mailing. After
payment to the Company by the Trustee or Paying Agent, all liability of the Trustee and the Paying
Agent with respect to such money

21

 

shall cease, and Holders entitled to the money must look to the Company for payment as general
creditors, subject to applicable law.

ARTICLE 4

Particular Covenants of the Company

          Section 4.01.
Payment of Principal and Interest. (a) The Company shall promptly make all
payments in respect of the Notes on the dates and in the manner provided in the Notes and this
Indenture. A payment of principal or interest shall be considered paid on the date it is due if
the Paying Agent holds by 11:00 a.m. (New York City time) on that date money or securities,
deposited by or on behalf of the Company sufficient to make the payment. The Company shall, to the
fullest extent permitted by law, pay interest in immediately available funds on any overdue
principal amount and interest at the annual rate borne by the Notes compounded semiannually, which
interest shall accrue from the date such overdue amount was originally due to the date payment of
such amount, including interest thereon, has been made or duly provided for. All such interest
shall be payable on demand.

     (b) Payment of the principal of and interest, if any, on the Notes shall be made at the office
or agency of the Company maintained for that purpose, which shall initially be at the Trustee’s
Corporate Trust Office, in such immediately available coin or currency of the United States of
America as at the time of payment is legal tender for payment of public and private debts;
provided, however, that, subject to Section 2.03, the Company may pay principal and interest in
respect of any Physical Note by check or wire transfer payable in such money. Notwithstanding the
foregoing, so long as the Notes are registered in the name of a Depositary or its nominee, all
payments thereon shall be made by wire transfer of immediately available funds to the account of
the Depositary or its nominee.

          Section 4.02. Corporate Existence. Subject to Article 10 hereof, the Company shall do or
cause to be done all things necessary to preserve and keep in full force and effect its corporate
existence and rights (charter and statutory); provided, however, that the Company shall not be
required to preserve any such right or franchise if the Company determines that the preservation
thereof is no longer desirable in the conduct of the business of the Company and that the loss
thereof is not disadvantageous in any material respect to the Holders.

          Section 4.03. Rule 144A Information Requirement and Reports. (a) At any time the Company is
not subject to Sections 13 or 15(d) of the Exchange Act, the Company shall, so long as any of the
Notes or any shares of Common Stock issuable upon conversion thereof shall, at such time,
constitute “restricted securities” within the meaning of Rule 144(a)(3) under the Securities Act,
upon written request, provide to any Holder, beneficial owner or prospective purchaser of such
Notes or any shares of Common Stock issued upon conversion of such Notes, the information required
to be delivered pursuant to Rule 144A(d)(4) under the Securities Act to facilitate the resale of
such Notes or shares of Common Stock pursuant to Rule 144A under the Securities Act.

22

 

     (b) The Company shall furnish to the Trustee within 15 calendar days after the Company is
required to file any documents or reports with the Commission pursuant to Sections 13 or 15(d) of
the Exchange Act (giving effect to all applicable grace periods provided under the Exchange Act
including that provided by Rule 12b-25 under the Exchange Act) copies of such documents or reports.
Any such document or report that the Company files with the Commission through the Commission’s
EDGAR system shall be deemed furnished to the Trustee for purposes of this Section 4.03(b) at the
time such documents are filed or furnished via the Commission’s EDGAR system; provided that the
Trustee shall have no responsibility for determining whether such filing has taken place, nor shall
the Trustee have any liability for the timeliness or content of any filing or report hereunder.

          Section 4.04. Compliance Certificate. The Company shall deliver to the Trustee, within 120 days after the
end of each fiscal year of the Company an Officers’ Certificate stating whether or not, to the
knowledge of such officer, the Company is in default in the performance and observance of any of
the terms, provisions and conditions of this Indenture and, if the Company shall be in default,
specifying all such defaults and the nature and status thereof of which they may have knowledge.
Within five Business Days of an Officer of the Company coming to have actual knowledge of a Default
or Event of Default, regardless of the date, the Company shall deliver an Officers’ Certificate to
the Trustee specifying such Default or Event of Default and the nature and status thereof.

          Section 4.05. Maintenance of Office or Agency. So long as any Notes remain Outstanding, the Company agrees
to maintain an office or agency with respect to such Notes and at such other location or locations
as may be designated as provided in this Section 4.05, where (i) Notes may be presented for
conversion (the Person accepting such conversions being the “Conversion Agent”), (ii) Notes may be
presented for payment (whether upon repurchase, at the Maturity Date, upon acceleration or
otherwise) (the Person accepting such presentments being the “Paying Agent”), (iii) Notes may be
presented as herein above authorized for registration of transfer and exchange and (iv) notices and
demands to or upon the Company in respect of the Notes and this Indenture may be given or served,
such designation to continue with respect to such office or agency until the Company shall, by
written notice signed by any two officers authorized to sign an Officers’ Certificate and delivered
to the Trustee, designate some other office or agency for such purposes or any of them. If at any
time the Company shall fail to maintain any such required office or agency or shall fail to furnish
the Trustee with the address thereof, such presentations, notices and demands may be made or served
at the Corporate Trust Office of the Trustee, and the Company hereby appoints the Trustee as its
agent to receive all such presentations, notices and demands. The Company initially appoints the
Corporate Trust Office of the Trustee as Conversion Agent and Paying Agent with respect to the
Notes.

          Section 4.06. Paying Agents. (a) If the Company shall appoint one or more Paying Agents for the Notes,
other than the Trustee, the Company shall cause each such Paying Agent to execute and deliver to
the Trustee an instrument in which such Paying Agent shall agree with the Trustee, subject to the
provisions of this Section 4.06:

          (i) that it shall hold all sums held by it as agent for the payment of the principal of
or interest on the Notes (whether such sums have been paid to it by the

23

 

Company or by any
other obligor of such Notes) in trust for the benefit of the Persons entitled thereto;

          (ii) that it shall give the Trustee written notice of any failure by the Company to
make any payment of the principal of or interest on the Notes when the same shall be due and
payable;

          (iii) that it shall, at any time during the continuance of any failure referred to in
the preceding paragraph (a)(ii) above, upon the written request of the Trustee, forthwith
pay to the Trustee all sums so held in trust by such Paying Agent; and

          (iv) that it shall perform all other duties of a Paying Agent as set forth in this
Indenture.

     (b) If the Company shall act as its own Paying Agent with respect to any Notes, it shall on or
before each due date of the principal of or interest on the Notes, set aside, segregate and hold in
trust for the benefit of the Persons entitled thereto a sum sufficient to pay such principal or
interest so becoming due on Notes until such sums shall be paid to such Persons or otherwise
disposed of as herein provided and shall promptly notify the Trustee in writing of such action, or
any failure to take such action. The Trustee shall have no liability or responsibility for the
action or inaction of any Paying Agent (that is not the Trustee).

     (c) Notwithstanding anything in this Section 4.06 to the contrary, (i) the agreement to hold
sums in trust as provided in this Section 4.06 is subject to the provisions of Section 3.02 and
Section 3.03 and (ii) the Company may at any time, for the purpose of obtaining the satisfaction
and discharge of this Indenture or for any other purpose, pay, or direct any Paying Agent to pay,
to the Trustee all sums held in trust by the Company or such Paying Agent, such sums to be held by
the Trustee upon the same terms and conditions as those upon which such sums were held by the
Company or such Paying Agent; and, upon such payment by the Company or any Paying Agent to the
Trustee, the Company or such Paying Agent shall be released from all further liability with respect
to such money.

          Section 4.07. Appointment to Fill Vacancy in Office of Trustee. The Company, whenever necessary to avoid or
fill a vacancy in the office of Trustee, shall appoint, in the manner provided in Section 7.09, a
Trustee, so that there shall at all times be a Trustee hereunder.

ARTICLE 5

Holders’ Lists and Reports by the Company and the Trustee

          Section 5.01. Company to Furnish Trustee Names and Addresses of Holders. The Company shall furnish or cause
to be furnished to the Trustee (a) within ten days after each Regular Record Date, a list, in such
form as the Trustee may reasonably require, of the names and addresses of the Holders as of such
regular record date, provided that the Company shall not be obligated to furnish or cause to
furnish such list at any time that the list shall not differ in any respect from the most recent list furnished to the Trustee by the
Company and (b) at such other times as the Trustee may request in writing within 30 days after the
receipt

24

 

by the Company of any such request, a list of similar form and content as of a date not
more than 15 days prior to the time such list is furnished; provided, however, that, in either
case, no such list need be furnished for any Notes for which the Trustee shall be the Note
Registrar.

          Section 5.02. Preservation Of Information; Communications With Holders.

     (a) The Trustee shall preserve, in as current a form as is reasonably practicable, all
information as to the names and addresses of the Holders of Notes contained in the most recent list
furnished to it as provided in Section 5.01 and as to the names and addresses of Holders of Notes
received by the Trustee in its capacity as Note Registrar (if acting in such capacity).

     (b) The Trustee may destroy any list furnished to it as provided in Section 5.01 upon receipt
of a new list so furnished.

     (c) The rights of Holders to communicate with other Holders with respect to their rights under
this Indenture or under the Notes, and the corresponding rights and duties of the Trustee, shall be
as provided by the Trust Indenture Act.

     (d) Every Holder, by receiving and holding a Note, agrees with the Company and the Trustee
that neither the Company nor the Trustee nor any agent of either of them shall be held accountable
by reason of any disclosure of information as to names and addresses of Holders made pursuant
hereto or otherwise in accordance with the Trust Indenture Act.

          Section 5.03. Reports by the Trustee.

     (a) On or before June 1 in each year, commencing June 1, 2011, in which any of the Notes are
Outstanding, the Trustee shall transmit by mail, first-class postage prepaid, to the Holders, as
their names and addresses appear upon the Note Register, a brief report dated as of the preceding
April 1, if and to the extent required under Section 313(a) of the Trust Indenture Act.

     (b) The Trustee shall comply with Section 313(b) and 313(c) of the Trust Indenture Act.

     (c) A copy of each such report shall, at the time of such transmission to Holders, be filed by
the Trustee with the Company, with each securities exchange upon which any Notes are listed (if so
listed) and also with the Securities and Exchange Commission. The Company agrees to promptly
notify the Trustee in writing when any Notes become listed on any securities exchange and of any
delisting thereof.

ARTICLE 6

Default and Remedies

          Section 6.01. Events of Default. An “Event of Default” shall occur when any of the following occurs:

25

 

     (a) the Company fails to pay when due the principal of any of the Notes at the Maturity Date,
upon exercise of a repurchase right hereunder or otherwise;

     (b) the Company fails to pay an installment of interest on any of the Notes for 30 days or
more after the date when due;

     (c) the Company fails to deliver when due all shares of Common Stock, together with cash
instead of fractional shares, and/or other property, if applicable, deliverable or payable, as the
case may be, upon conversion of the Notes pursuant to Article 13, which failure continues for a
period of five Business Days;

     (d) the Company fails to provide a Fundamental Change Company Notice when due pursuant to
Section 16.01;

     (e) the Company fails to comply with its obligations under Section 10.01;

     (f) the Company fails to perform or observe any other term, covenant or agreement contained in
the Notes or this Indenture for a period of 60 days after written notice of such failure, requiring
the Company to remedy the same, shall have been given to the Company by the Trustee or to the
Company and the Trustee by the Holders of at least 25% in aggregate principal amount of the
then-Outstanding Notes;

     (g) default by the Company or any Subsidiary of the Company with respect to any mortgage,
agreement or other instrument under which there may be outstanding, or by which there may be
secured or evidenced, any indebtedness for borrowed money in excess of $50.0 million in the
aggregate of the Company and/or any such Subsidiary, whether such indebtedness now exists or shall
hereafter be created (i) resulting in such indebtedness becoming or being declared due and payable
or (ii) constituting a failure to pay the principal or interest of any such debt when due and
payable at its stated maturity, upon required repurchase, upon declaration of acceleration or
otherwise; provided, however, that if such default ceases or is cured, waived, rescinded or
annulled, then any Default or Event of Default under this clause (g) shall be deemed no longer to
be continuing;

     (h) an involuntary case or other proceeding shall be commenced against the Company or any
Significant Subsidiary (or any group of the Company’s Subsidiaries that, taken together, would
constitute a Significant Subsidiary) seeking liquidation, reorganization or other relief with
respect to the Company or any Significant Subsidiary (or any group of the Company’s Subsidiaries
that, taken together, would constitute a Significant Subsidiary) 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 the Company or any Significant
Subsidiary (or any group of the Company’s Subsidiaries that, taken together,
would constitute a Significant Subsidiary) or any substantial part of its property, and such
involuntary case or other proceeding shall remain undismissed and unstayed for a period of 30
consecutive days; or

     (i) the Company or any Significant Subsidiary (or any group of the Company’s Subsidiaries
that, taken together, would constitute a Significant Subsidiary) pursuant to or within the meaning
of any Bankruptcy Law:

26

 

          (i) commences as a debtor a voluntary case or proceeding;

          (ii) consents to the entry of an order for relief against it in an involuntary case or
proceeding or the commencement of any case against it;

          (iii) consents to the appointment of a Receiver of it or for all or substantially all
of its property;

          (iv) makes a general assignment for the benefit of its creditors;

          (v) files a petition in bankruptcy or answer or consent seeking reorganization or
relief; or

          (vi) consents to the filing of such a petition or the appointment of or taking
possession by a Receiver.

     The term “Bankruptcy Law” means Title 11 of the United States Code (or any successor thereto)
or any similar federal or state law for the relief of debtors. The term “Receiver” means any
receiver, trustee, assignee, liquidator, sequestrator or similar official under any Bankruptcy Law.

          Section 6.02. Acceleration of Maturity; Rescission and Annulment. If an Event of Default with respect to
Outstanding Notes (other than an Event of Default specified Section 6.01(h) or Section 6.01(i)
hereof in respect of the Company) occurs and is continuing, the Trustee or the Holders of at least
25% in aggregate principal amount of the then-Outstanding Notes, by written notice to the Trustee,
may declare the Notes due and payable at their principal amount plus any accrued and unpaid
interest, and thereupon the Trustee may, at its discretion, proceed to protect and enforce the
rights of the Holders by the appropriate judicial proceedings. Such declaration may be rescinded
and annulled with the written consent of the Holders of a majority in aggregate principal amount of
the then-Outstanding Notes, subject to the provisions of this Indenture.

     If an Event of Default specified in Section 6.01(h) or Section 6.01(i) hereof occurs and is
continuing, then all unpaid principal of, and accrued and unpaid interest on, the Outstanding Notes
shall become immediately due and payable, without any declaration or other act on the part of the
Trustee or any Holder.

     Notwithstanding the foregoing, at the election of the Company, the sole remedy for an Event of
Default specified in Section 6.01(f) relating to the failure by the Company to comply with its
reporting obligations under Section 4.03 and for any failure to comply with the
requirements of Section 314(a)(1) of the Trust Indenture Act, shall (i) for the first 90 days
after the occurrence of such an Event of Default, consist exclusively of the right to receive
special interest on Notes (the “Special Interest”) at an annual rate equal to 0.25% per annum of
the principal amount of the Outstanding Notes, and (ii) for the next 90 days after the expiration
of such 90-day period, consist exclusively of the right to receive Special Interest on the Notes at
an annual rate equal to 0.50% per annum of the principal amount of the Outstanding Notes.

27

 

     The Special Interest shall be paid semiannually in arrears, with the first semiannual payment
due on the first Interest Payment Date following the date on which the Special Interest began to
accrue on any Notes. The Special Interest shall accrue on all Outstanding Notes from, and
including, the date on which an Event of Default relating to a failure to comply with the reporting
obligations under Section 4.03 or a failure to comply with the requirements of Section 314(a)(1) of
the Trust Indenture Act first occurs to, but not including, the 180th day thereafter (or such
earlier date on which the Event of Default relating to such reporting obligations shall have been
cured or waived). On such 180th day (or earlier, if such Event of Default is cured or waived
pursuant to Section 6.04 prior to such 180th day), such Special Interest will cease to accrue and,
if such Event of Default relating to such reporting obligations has not been cured or waived prior
to such 180th day, the Notes shall be subject to acceleration as provided above in this Section
6.02. The provisions described in this paragraph shall not affect the rights of the Holders in the
event of the occurrence of any other Event of Default. In the event the Company does not elect to
pay Special Interest upon an Event of Default in accordance with this paragraph, the Notes will be
subject to acceleration as provided in this Section 6.02. If the Company elects to pay Special
Interest as the sole remedy for an Event of Default specified in Section 6.01(d) relating to the
failure by the Company to comply with its obligations under Section 4.03 or any failure to comply
with the requirements of Section 314(a)(1) of the Trust Indenture Act, the Company shall notify in
writing, in the manner provided for in Section 18.03, the Holders and the Trustee of such election
at any time on or before the close of business on the date on which such Event of Default first
occurs. If the Company fails to timely give such notice, the Notes shall be subject to
acceleration as provided in this Section 6.02.

     The Holders of a majority in aggregate principal amount of the then-Outstanding Notes by
written notice to the Trustee may rescind and annul an acceleration and its consequences if:

     (1) all existing Events of Default, other than the nonpayment of principal (including the
Fundamental Change Repurchase Price, if applicable) of or interest on the Notes which has become
due solely because of the acceleration, have been remedied, cured or waived; and

     (2) the rescission would not conflict with any judgment or decree of a court of competent
jurisdiction;

provided, however, that in the event such declaration of acceleration has been made based on the
existence of an Event of Default under Section 6.01(g) hereof and such Event of Default has been
remedied, cured or waived in accordance with Section 6.01(g) hereof, then, without any further
action by the Holders, such declaration of acceleration shall be rescinded automatically and the
consequences of such declaration shall be annulled. No such rescission or annulment shall affect
any subsequent Default or impair any right consequent thereon.

          Section 6.03. Other Remedies. If an Event of Default with respect to Outstanding Notes occurs and is
continuing, the Trustee may pursue any available remedy by proceeding at law or in equity to
collect the payment of principal of, or interest on, the Notes or to enforce the performance of any
provision of the Notes.

          Section 6.04. Waiver of Past Defaults. The Holders, either (a) through the written consent of not less than
a majority in aggregate principal amount of the Notes then

28

 

Outstanding or (b) by the adoption of a
resolution, at a meeting of Holders of the Notes then Outstanding at which a quorum is present, by
the Holders of at least a majority in aggregate principal amount of the Outstanding Notes
represented at such meeting, may, on behalf of the Holders of all of the Notes, waive an existing
Default or Event of Default, except a Default or Event of Default:

     (1) in the payment of the principal of (including Fundamental Change Repurchase Price, if
applicable), or interest on, any Note;

     (2) in respect of the right to convert any Note in accordance with Article 13; or

     (3) in respect of the covenants or provisions hereof which, under Section 9.02 hereof, cannot
be modified or amended without the consent of the Holder of each Outstanding Note affected.

     Upon any such waiver, such Default shall cease to exist, and any Event of Default arising
therefrom shall be deemed to have been cured, for every purpose of this Indenture; provided,
however, that no such waiver shall extend to any subsequent or other Default or impair any right
consequent thereon.

          Section 6.05. Control by Majority. The Holders, either (a) through the written consent of not less than a
majority in aggregate principal amount of the Notes then Outstanding, or (b) by the adoption of a
resolution, at a meeting of Holders of the Notes then Outstanding at which a quorum is present, by
the Holders of at least a majority in aggregate principal amount of the Outstanding Notes
represented at such meeting, shall have the right to direct the time, method and place of
conducting any proceeding for any remedy available to the Trustee or exercising any trust or power
conferred on the Trustee, subject to the provisions of this Indenture. However, the Trustee may
refuse to follow any direction that:

     (a) conflicts with any law or with this Indenture;

     (b) the Trustee determines may be unduly prejudicial to the rights of the Holders not joining
therein; or

     (c) in the Trustee’s reasonable judgment may expose the Trustee to personal liability.

     The Trustee may take any other action deemed proper by the Trustee which is not inconsistent
with such direction.

          Section 6.06. Limitation On Suit. No Holder of any Note may pursue any remedy with respect to this
Indenture or the Notes (including instituting any proceeding, judicial
or otherwise, with respect to this Indenture or for the appointment of a receiver or trustee),
except, in the case of a Default or Event of Default in the payment of the principal of (including
the Fundamental Change Repurchase Price, if applicable), or interest on, the Notes or Default in
the delivery of the shares of Common Stock and payment of cash in lieu of fractional shares due
upon conversion of Notes, unless:

29

 

     (a) such Holder has previously given written notice to the Trustee of an Event of Default that
is continuing;

     (b) the Holders of at least 25% in aggregate principal amount of the Notes then Outstanding
shall have made a written request to the Trustee to pursue the remedy;

     (c) such Holder or Holders have offered the Trustee security or indemnity reasonably
satisfactory to the Trustee against any costs, liabilities or expenses incurred in complying with
such request;

     (d) the Trustee does not, within 60 days after receipt of the request and offer of indemnity,
receive an inconsistent direction from the Holders of a majority in principal amount of the Notes;
and

     (e) the Trustee has failed to comply with the request for 60 days after the receipt of such
request and an offer of indemnity.

     A Holder of Notes may not use this Indenture to prejudice the rights of another Holder of
Notes or to obtain a preference or priority over another Holder of Notes (it being understood that
the Trustee does not have an affirmative duty to ascertain whether or not such actions or
forbearances are unduly prejudicial to such Holders).

          Section 6.07. Unconditional Rights of Holders to Receive Payment and to Convert. In addition to the other
rights and remedies set forth in this Article 6, the following shall apply with respect to the
Notes under this Indenture.

     Notwithstanding any other provision in this Indenture, the Holder of any Note shall have the
right, which is absolute and unconditional, to receive payment of the principal amount (including
the Fundamental Change Repurchase Price, if applicable), interest and the Make-Whole Fundamental
Change Premium, if any, in respect of the Notes held by such Holder, on or after the respective due
dates expressed in the Notes and this Indenture, and to convert such Note in accordance with
Article 13, and to bring suit for the enforcement of any such payment on or after such respective
due dates or for the right to convert in accordance with Article 13, and shall not be impaired or
affected without the consent of such Holder.

          Section 6.08. Collection of Indebtedness and Suits For Enforcement By the Trustee. The Company covenants
that if an Event of Default occurs under Section 6.01(a) or Section 6.01(b), then the Company
shall, upon demand of the Trustee, pay to it, for the benefit of the Holders of such Notes, the
whole amount then due and payable (as expressed therein or as a result of any acceleration effected
pursuant to Section 6.02 hereof) on such Notes for principal (including the Fundamental Change
Repurchase Price, if applicable) and interest and, to the extent that payment of such interest
shall be legally enforceable, interest on any
overdue principal (including the Fundamental Change Repurchase Price, if applicable) and on
any overdue interest, in each case at the rate borne by the Notes from the required payment date,
and, in addition thereto, such further amount as shall be sufficient to cover the costs and
expenses of collection, including the reasonable compensation, expenses, disbursements and advances
of the Trustee, its agents and counsel.

30

 

     If the Company fails to pay such amounts forthwith upon such demand, the Trustee, in its own
name and as trustee of an express trust, may institute a judicial proceeding for the collection of
the sums so due and unpaid, may prosecute such proceeding to judgment or final decree and may
enforce the same against the Company and collect the moneys adjudged or decreed to be payable in
the manner provided by law out of the property of the Company, wherever situated.

     If an Event of Default occurs and is continuing, the Trustee may in its discretion proceed to
protect and enforce its rights and the rights of the Holders of Notes by such appropriate judicial
proceedings as the Trustee shall deem most effectual to protect and enforce any such rights,
whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of
the exercise of any power granted herein, or to enforce any other proper remedy.

          Section 6.09. Trustee May File Proofs of Claim. In case of the pendency of any receivership, insolvency,
liquidation, bankruptcy, reorganization, arrangement, adjustment, composition or other judicial
proceeding relative to the Company or the property of the Company or its creditors, the Trustee
(irrespective of whether the principal of the Notes (including the Fundamental Change Repurchase
Price, if applicable) shall then be due and payable as therein expressed or by declaration or
otherwise and irrespective of whether the Trustee shall have made any demand on the Company for the
payment of overdue principal or interest) shall be entitled and empowered, by intervention in such
proceeding or otherwise, (1) to file and prove a claim for the whole amount of principal (including
the Fundamental Change Repurchase Price, if applicable) and interest owing and unpaid in respect of
the Notes and to file such other papers or documents as may be necessary or advisable in order to
have the claims of the Trustee (including any claim for the reasonable compensation, expenses,
disbursements and advances of the Trustee, its agents and counsel, and any other amounts due to the
Trustee hereunder) and of the Holders of Notes allowed in such judicial proceeding, and (2) to
collect and receive any moneys or other property payable or deliverable on any such claim and to
distribute the same; and any custodian, receiver, assignee, trustee, liquidator, sequestrator or
other similar official in any such judicial proceedings is hereby authorized by each Holder of
Notes to make such payments to the Trustee and, in the event that the Trustee shall consent to the
making of such payments directly to the Holders of Notes, to pay to the Trustee any amount due to
it for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents
and counsel and any other amounts due the Trustee under this Indenture.

     Nothing contained herein shall be deemed to authorize the Trustee to authorize or consent to
or accept, or adopt on behalf of any Holder of a Note, any plan of reorganization, arrangement,
adjustment or composition affecting the Notes or the rights of any Holder thereof or to authorize
the Trustee to vote in respect of the claim of any Holder of a Note in any such proceeding.

          Section 6.10. Restoration of Rights and Remedies. If the Trustee or any Holder of a Note has instituted any
proceeding to enforce any right or remedy under this Indenture and such proceeding has been
discontinued or abandoned for any reason, or has been determined adversely to the Trustee or to
such Holder, then and in every such case, subject to any determination in such proceeding, the
Company, the Trustee and the Holders of Notes shall be restored severally and respectively to their
former positions hereunder and thereafter all rights

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and remedies of the Trustee and the Holders
shall continue as though no such proceeding had been instituted.

          Section 6.11. Rights and Remedies Cumulative. Except as otherwise provided with respect to the replacement
or payment of mutilated, destroyed, lost or stolen Notes in Section 2.06, no right or remedy
conferred in this Indenture upon or reserved to the Trustee or to the Holders of Notes is intended
to be exclusive of any other right or remedy, and every right and remedy shall, to the extent
permitted by law, be cumulative and in addition to every other right and remedy given hereunder or
hereafter existing at law or in equity or otherwise. The assertion or employment of any right or
remedy hereunder, or otherwise, shall not prevent the concurrent assertion or employment of any
other appropriate right or remedy.

          Section 6.12. Delay or Omission Not Waiver. No delay or omission of the Trustee or of any Holder of any
Note to exercise any right or remedy accruing upon any Event of Default shall impair any such right
or remedy or constitute a waiver of any such Event of Default or any acquiescence therein. Every
right and remedy given by this Article 6 or by law to the Trustee or to the Holders of Notes may be
exercised from time to time, and as often as may be deemed expedient, by the Trustee or by the
Holders of Notes, as the case may be.

          Section 6.13. Application of Money Collected. Any money and property collected by the Trustee pursuant to
this Article 6 shall be applied in the following order, at the date or dates fixed by the Trustee
and, in case of the distribution of such money and property on account of principal (including the
Fundamental Change Repurchase Price, if applicable) or interest, upon presentation of the Notes and
the notation thereon of the payment if only partially paid and upon surrender thereof if fully
paid:

     FIRST: To the payment of all amounts due the Trustee, including its agents and counsel;

     SECOND: To the payment of the amounts then due and unpaid for principal (including the
Fundamental Change Repurchase Price, if applicable) of and interest on the Notes in respect of
which or for the benefit of which such money has been collected, ratably, without preference or
priority of any kind, according to the amounts due and payable on such Notes for principal
(including the Fundamental Change Repurchase Price, if applicable) and interest, respectively; and

     THIRD: Any remaining amounts shall be repaid to the Company.

          Section 6.14. Undertaking For Costs. All parties to this Indenture agree, and each Holder of any Note by
such Holder’s acceptance thereof shall be deemed to have agreed, that any court may in its
discretion require, in any suit for the enforcement of any right or remedy under this Indenture, or
in any suit against the Trustee for any action taken, suffered or
omitted by it as Trustee with respect to the Notes, the filing by any party litigant in such
suit of an undertaking to pay the costs of such suit, and that such court may in its discretion
assess reasonable costs, including reasonable attorneys’ fees and expenses, against any party
litigant in such suit, having due regard to the merits and good faith of the claims or defenses
made by such party litigant; but the provisions of this Section 6.14 shall not apply to any suit
instituted by the Company, to any suit instituted by the Trustee, to any suit instituted by any
Holder, or group of

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Holders, holding in the aggregate more than 10% in aggregate principal amount
of the Notes then Outstanding, or to any suit instituted by any Holder of any Note for the
enforcement of the payment of the principal of (including the Fundamental Change Repurchase Price,
if applicable), or interest on, any Note on or after the stated maturity expressed in such Note or
on or after a Fundamental Change Repurchase Date (in the case of Notes the Company is required to
repurchase pursuant to Article 16) or for the enforcement of the right to convert any Note in
accordance with Article 13.

          Section 6.15. Waiver of Stay or Extension Laws. The Company covenants (to the extent that it may lawfully
do so) that it shall not at any time insist upon, or plead, or in any manner whatsoever claim to
take the benefit or advantage of, any stay or extension law wherever enacted, now or at any time
hereafter in force, which may affect the covenants or the performance of this Indenture; and the
Company (to the extent that it may lawfully do so) hereby expressly waives all benefit or advantage
of any such law and covenants that it shall not hinder, delay or impede the execution of any power
herein granted to the Trustee, but shall suffer and permit the execution of every such power as
though no such law had been enacted.

          Section 6.16. Notice of Default. If any Default or any Event of Default occurs and is continuing and if
such Default or Event of Default is actually known to a Responsible Officer of the Trustee, the
Trustee shall within 90 days of the occurrence of a Default or Event of Default, mail to each
Holder notice of all uncured Defaults or Events of Default known to the Trustee, unless such
Default or Event of Default has been cured; provided, however, that, except in the case of a
default in the payment of the principal of (including the Fundamental Change Repurchase Price, if
applicable), or interest on, any Note, the Trustee shall be protected in withholding such notice if
the Trustee in good faith determines that the withholding of such notice is in the interest of such
Holders.

ARTICLE 7

Concerning the Trustee

          Section 7.01. Certain Duties and Responsibilities of Trustee. (a) The Trustee, prior to the occurrence of
an Event of Default and after the curing of all Events of Default that may have occurred, shall
undertake to perform with respect to the Notes such duties and only such duties as are specifically
set forth in this Indenture, and no implied covenants shall be read into this Indenture against the
Trustee. In case an Event of Default has occurred (that has not been cured or waived), the Trustee
shall exercise with respect to the Notes such of the rights and powers vested in it by this
Indenture, and use the same degree of care and skill in their exercise, as a prudent person would
exercise or use under the circumstances in the conduct of his or her own affairs.

     (b) No provision of this Indenture shall be construed to relieve the Trustee from liability
for its own negligent action, its own negligent failure to act, or its own willful misconduct,
except that:

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          (i) prior to the occurrence of an Event of Default and after the curing or waiving of
all such Events of Default that may have occurred:

          (A) the duties and obligations of the Trustee shall with respect to the Notes
be determined solely by the express provisions of this Indenture, and the Trustee
shall not be liable with respect to the Notes except for the performance of such
duties and obligations as are specifically set forth in this Indenture and subject
to the terms of this Indenture, and no implied covenants or obligations shall be
read into this Indenture against the Trustee; and

          (B) in the absence of bad faith on the part of the Trustee, the Trustee may
with respect to the Notes conclusively rely, as to the truth of the statements and
the correctness of the opinions expressed therein, upon any certificates or opinions
furnished to the Trustee and conforming to the requirements of this Indenture; but
in the case of any such certificates or opinions that by any provision hereof are
specifically required to be furnished to the Trustee, the Trustee shall be under a
duty to examine the same to determine whether or not they conform to the
requirements of this Indenture (but need not confirm or investigate the accuracy of
mathematical calculations or other facts stated therein);

          (ii) the Trustee shall not be liable for any error of judgment made in good faith by a
Responsible Officer or Responsible Officers of the Trustee, unless it shall be proved that
the Trustee was negligent in ascertaining the pertinent facts;

          (iii) the Trustee shall not be liable with respect to any action taken or omitted to be
taken by it in good faith in accordance with the direction of the Holders of not less than a
majority in principal amount of the Notes at the time Outstanding relating to the time,
method and place of conducting any proceeding for any remedy available to the Trustee, or
exercising any trust or power conferred upon the Trustee under this Indenture with respect
to the Notes; and

          (iv) none of the provisions contained in this Indenture shall require the Trustee to
expend or risk its own funds or otherwise incur personal financial liability in the
performance of any of its duties or in the exercise of any of its rights or powers if there
is reasonable ground for believing that the repayment of such funds or liability is not
reasonably assured to it under the terms of this Indenture or adequate indemnity against
such risk is not reasonably assured to it.

          Section 7.02. Certain Rights of Trustee. Except as otherwise provided in Section 7.01:

     (a) the Trustee may rely conclusively and shall be protected in acting or refraining from
acting upon any resolution, certificate, statement, instrument, opinion, report, notice,
request, consent, order, approval, bond, security or other paper or document believed by it to
be genuine and to have been signed or presented by the proper party or parties;

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     (b) any request, direction, order or demand of the Company mentioned herein shall be
sufficiently evidenced by a Board Resolution or an instrument signed in the name of the Company by
any authorized officer of the Company (unless other evidence in respect thereof is specifically
prescribed herein);

     (c) the Trustee may consult with counsel of its selection and the advice of such counsel or
any Opinion of Counsel shall be full and complete authorization and protection in respect of any
action taken or suffered or omitted hereunder in good faith and in reliance thereon;

     (d) the Trustee shall be under no obligation to exercise any of the rights or powers vested in
it by this Indenture at the request, order or direction of any of the Holders pursuant to the
provisions of this Indenture, unless such Holders shall have offered the Trustee security or
indemnity satisfactory to the Trustee against the costs, expenses and liabilities that may be
incurred therein or thereby;

     (e) the Trustee shall not be liable for any action taken or omitted to be taken by it in good
faith and believed by it to be authorized or within the discretion or rights or powers conferred
upon it by this Indenture;

     (f) the Trustee shall not be bound to make any investigation into the facts or matters stated
in any resolution, certificate, statement, instrument, opinion, report, notice, request, consent,
order, approval, bond, security, or other papers or documents, unless requested in writing so to do
by the Holders of not less than a majority in principal amount of the Outstanding Notes affected
thereby (determined as provided in Section 8.04) but the Trustee, in its discretion, may make such
further inquiry or investigation into such facts or matters as it may see fit, and, if the Trustee
shall determine to make such further inquiry or investigation, it shall be entitled to examine the
books, records and premises of the Company, personally or by agent or attorney; provided, however,
that if the payment within a reasonable time to the Trustee of the costs, expenses or liabilities
likely to be incurred by it in the making of such investigation is, in the opinion of the Trustee,
not reasonably assured to the Trustee by the security afforded to it by the terms of this
Indenture, the Trustee may require indemnity reasonably satisfactory to the Trustee against such
costs, expenses or liabilities as a condition to so proceeding. The reasonable expense of every
such investigation shall be paid by the Company or, if paid by the Trustee, shall be repaid by the
Company upon demand;

     (g) the Trustee may execute any of the trusts or powers hereunder or perform any duties
hereunder either directly or by or through agents, attorneys or other professionals or consultants
and may retain such parties in furtherance of its administration hereunder and the Trustee shall
not be responsible for any misconduct or negligence on the part of any such agent, attorney or
other professional appointed with due care by it hereunder;

     (h) in no event shall the Trustee be responsible or liable for special, indirect, punitive or
consequential loss or damage of any kind whatsoever (including, but not limited to, loss of
profit) irrespective of whether the Trustee has been advised of the likelihood of such loss or
damage and regardless of the form of action;

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     (i) the rights, privileges, protections, immunities and benefits given to the Trustee,
including, without limitation, its right to be indemnified, are extended to, and shall be
enforceable by, the Trustee in each of its capacities hereunder, and each agent, custodian and
other Person employed to act hereunder;

     (j) the Trustee shall not be required to give any bond or surety in respect of the performance
of its powers and duties hereunder; and

     (k) the Trustee may request that the Company deliver a certificate setting forth the names of
individuals and/or titles of officers authorized at such time to take specified actions pursuant to
this Indenture.

     In addition, the Trustee shall not be deemed to have knowledge of any Default or Event of
Default except (1) any Event of Default occurring pursuant to Section 6.01(a) and 6.01(b) or (2)
any Default or Event of Default of which the Trustee shall have received written notification in
the manner set forth in this Indenture or a Responsible Officer of the Trustee shall have obtained
actual knowledge. Delivery of reports, information and documents to the Trustee under Section 4.03
is for informational purposes only and the information and the Trustee’s receipt of the foregoing
shall not constitute constructive notice of any information contained therein, or determinable from
information contained therein including the Company’s compliance with any of their covenants
thereunder (as to which the Trustee is entitled to rely conclusively on an Officers’ Certificate).

          Section 7.03. Trustee Not Responsible for Recitals or Issuance or Notes.

     (a) The recitals contained herein and in the Notes shall be taken as the statements of the
Company, and the Trustee assumes no responsibility for the correctness of the same.

     (b) The Trustee makes no representations as to the validity or sufficiency of this Indenture
or of the Notes.

     (c) The Trustee shall not be accountable for the use or application by the Company of any of
the Notes or of the proceeds of such Notes, or for the use or application of any moneys paid over
by the Trustee in accordance with any provision of this Indenture, or for the use or application of
any moneys received by any Paying Agent other than the Trustee, acting in such capacity.

          Section 7.04. May Hold Notes. The Trustee or any Paying Agent or Note Registrar, in its individual or any
other capacity, may become the owner or pledgee of Notes with the same rights it would have if it
were not Trustee, Paying Agent or Note Registrar.

          Section 7.05. Moneys Held in Trust. Subject to the provisions of Section 3.03, all moneys received by the
Trustee shall, until used or applied as herein provided, be held in trust for the purposes for
which they were received, but need not be segregated from other funds except to the extent required
by law. The Trustee shall be under no liability for interest on
any moneys received by it hereunder except such as it may agree to in writing with the Company
to pay thereon.

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          Section 7.06. Compensation and Reimbursement.

     (a) The Company covenants and agrees to pay to the Trustee, and the Trustee shall receive,
such compensation (which shall not be limited by any provision of law in regard to the compensation
of a trustee of an express trust) as the Company and the Trustee may from time to time agree in
writing, for all services rendered by it in the execution of the trusts hereby created and in the
exercise and performance of any of the powers and duties hereunder of the Trustee, and, except as
otherwise expressly provided herein, the Company shall pay or reimburse the Trustee upon its
request for all reasonable expenses, disbursements and advances incurred or made by the Trustee in
accordance with any of the provisions of this Indenture (including the reasonable compensation and
the expenses and disbursements of its counsel and of all Persons not regularly in its employ),
except any such expense, disbursement or advance as may arise from its negligence, willful
misconduct or bad faith and except as the Company and Trustee may from time to time agree in
writing. The Company also covenants to indemnify the Trustee (and its officers, agents, directors
and employees) for, and to hold it harmless against, any loss, liability or expense incurred
without negligence, willful misconduct or bad faith on the part of the Trustee and arising out of
or in connection with the acceptance or administration of this trust, including the reasonable
costs and expenses of defending itself against any claim (whether asserted by the Company, any
Holder or any other Person) of liability in the premises.

     (b) The obligations of the Company under this Section 7.06 to compensate and indemnify the
Trustee and to pay or reimburse the Trustee for reasonable expenses, disbursements and advances
shall constitute additional indebtedness hereunder. Such additional indebtedness shall be secured
by a lien prior to that of the Notes upon all property and funds held or collected by the Trustee
as such, except funds held in trust for the benefit of the Holders.

     (c) The Company covenants and agrees to indemnify the Trustee for, and hold it harmless from
and against, any loss, liability or expense reasonably incurred by it arising out of or in
connection with the acceptance or administration of the trust or trusts hereunder or the
performance of its duties hereunder, including the reasonable costs and expenses of defending
itself against any claim or liability in connection with the exercise or performance of any of its
powers or duties hereunder except to the extent any such loss, liability or expense may be
attributable to its negligence, willful misconduct or bad faith.

     (d) In addition and without prejudice to the rights provided to the Trustee under any of the
provisions of this Indenture, when the Trustee incurs expenses or renders services in connection
with an Event of Default specified in Section 6.01(h) or Section 6.01(i), the expenses (including
the reasonable charges and expenses of its counsel) and the compensation for the services are
intended to constitute expenses of administration under any applicable federal and state
bankruptcy, insolvency or other similar law.

     (e) The Company’s obligations under this Section 7.06 and the lien referred to in Section
7.06(b) shall survive the resignation or removal of the Trustee, the discharge of the Company’s
obligations under Article 3 of this Indenture and/or the termination of this Indenture.

          Section 7.07. Reliance on Officers’ Certificate and Opinions. Except as otherwise provided in Section 7.01,
whenever in the administration of the provisions of this

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Indenture the Trustee shall deem it
reasonably necessary or desirable that a matter be proved or established prior to taking or
suffering or omitting to take any action hereunder, such matter (unless other evidence in respect
thereof be herein specifically prescribed) may, in the absence of negligence, willful misconduct or
bad faith on the part of the Trustee, be deemed to be conclusively proved and established by an
Officers’ Certificate and Opinion of Counsel delivered to the Trustee and such certificate or
opinion, in the absence of negligence, willful misconduct or bad faith on the part of the Trustee,
shall be full warrant to the Trustee for any action taken, suffered or omitted to be taken by it
under the provisions of this Indenture upon the faith thereof.

          Section 7.08. Corporate Trustee Required; Eligibility. There shall at all times be a Trustee with respect
to the Notes issued hereunder which shall at all times be a corporation organized and doing
business under the laws of the United States of America or any state or territory thereof or of the
District of Columbia, or a corporation or other Person that is eligible to act as such under the
Trust Indenture Act and permitted to act as trustee by the Securities and Exchange Commission,
authorized under such laws to exercise corporate trust powers, having a combined capital and
surplus of at least fifty million U.S. dollars ($50,000,000), and subject to supervision or
examination by federal, state, territorial or District of Columbia authority.

     If such corporation or other Person publishes reports of condition at least annually, pursuant
to law or to the requirements of the aforesaid supervising or examining authority, then for the
purposes of this Section 7.08, the combined capital and surplus of such corporation or other Person
shall be deemed to be its combined capital and surplus as set forth in its most recent report of
condition so published. The Company may not, nor may any Person directly or indirectly
controlling, controlled by, or under common control with the Company, serve as Trustee. In case at
any time the Trustee shall cease to be eligible in accordance with the provisions of this Section
7.08, the Trustee shall resign immediately in the manner and with the effect specified in Section
7.09.

          Section 7.09. Resignation and Removal; Appointment of Successor.

     (a) The Trustee or any successor hereafter appointed may at any time resign with respect to
the Notes by giving written notice thereof to the Company. Upon receiving such notice of
resignation, the Company shall promptly appoint a successor trustee with respect to the Notes by
written instrument, in duplicate, executed by order of the Board of Directors, one copy of which
instrument shall be delivered to the resigning Trustee and one copy to the successor trustee. If
no successor trustee shall have been so appointed and have accepted appointment within 30 days
after the mailing of such notice of resignation, the resigning Trustee, at the expense of the
Company, may petition any court of competent jurisdiction for the appointment of a successor
trustee with respect to the Notes, or any Holder who has been a bona fide Holder of Notes for at
least six months may on behalf of himself and all others similarly situated, petition any such
court for the appointment of a successor trustee. Such court may thereupon after such notice, if
any, as it may deem proper and prescribe, appoint a successor trustee.

     (b) In case at any time any one of the following shall occur:

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     (i) the Trustee shall fail to comply with the provisions of Section 7.08 after written
request therefor by the Company or by any Holder who has been a bona fide Holder of Notes
for at least six months;

     (ii) the Trustee shall cease to be eligible in accordance with the provisions of
Section 7.08 and shall fail to resign after written request therefor by the Company or by
any such Holder; or

     (iii) the Trustee shall become incapable of acting, or shall be adjudged a bankrupt or
insolvent, or commence a voluntary bankruptcy proceeding, or a receiver of the Trustee or of
its property shall be appointed or consented to, or any public officer shall take charge or
control of the Trustee or of its property or affairs for the purpose of rehabilitation,
conservation or liquidation, then, in any such case, the Company may remove the Trustee with
respect to the Notes and appoint a successor trustee by written instrument, in duplicate,
executed by order of the Board of Directors, one copy of which instrument shall be delivered
to the Trustee so removed and one copy to the successor trustee, or any Holder who has been
a bona fide Holder of Notes for at least six months may, on behalf of that Holder and all
others similarly situated, petition any court of competent jurisdiction for the removal of
the Trustee and the appointment of a successor trustee. Such court may thereupon after such
notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a
successor trustee.

     (c) The Holders of a majority in aggregate principal amount of the Notes at the time
Outstanding may at any time remove the Trustee by so notifying the Trustee and the Company in
writing and may nominate a successor Trustee that shall be deemed appointed as successor trustee
unless within ten days after notice to the Company of such nomination the Company objects thereto,
in which case the Trustee so removed, at the expense of the Company, or any Holder, upon the terms
and conditions and otherwise as in Section 7.09(a) provided, may petition any court of competent
jurisdiction for an appointment of a successor trustee.

     (d) Any resignation or removal of the Trustee and appointment of a successor trustee with
respect to the Notes pursuant to any of the provisions of this Section 7.09 shall become effective
upon acceptance of appointment by the successor trustee as provided in Section 7.10.

          Section 7.10. Acceptance of Appointment By Successor.

     (a) In case of the appointment hereunder of a successor trustee with respect to all Notes,
every such successor trustee so appointed shall execute, acknowledge and deliver to the Company and
to the retiring Trustee an instrument accepting such appointment, and thereupon the resignation or
removal of the retiring Trustee shall become effective and such successor trustee, without any
further act, deed or conveyance, shall become vested with all the rights, powers, trusts and duties
of the retiring Trustee; but, on the written request of the Company or the successor trustee, such
retiring Trustee shall, upon payment of its charges, execute and deliver an instrument transferring
to such successor trustee all the rights, powers and trusts of the retiring Trustee and shall duly
assign, transfer and deliver to such successor trustee all property
and money held by such retiring Trustee hereunder. The trustee shall have no liability or
responsibility for the action or inaction of any successor Trustee.

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     (b) In case of the appointment hereunder of a successor trustee with respect to some, but not
all of the Notes, the Company, the retiring Trustee and each successor trustee with respect to such
Notes shall execute and deliver an indenture supplemental hereto wherein each successor trustee
shall accept such appointment and which (i) shall contain such provisions as shall be necessary or
desirable to transfer and confirm to, and to vest in, each successor trustee all the rights,
powers, trusts and duties of the retiring Trustee with respect to the Notes to which the
appointment of such successor trustee relates, (ii) shall contain such provisions as shall be
deemed necessary or desirable to confirm that all the rights, powers, trusts and duties of the
retiring Trustee with respect to the Notes as to which the retiring Trustee is not retiring shall
continue to be vested in the retiring Trustee and (iii) shall add to or change any of the
provisions of this Indenture as shall be necessary to provide for or facilitate the administration
of the trusts hereunder by more than one Trustee, it being understood that nothing herein or in
such supplemental indenture shall constitute such Trustees co-trustees of the same trust, that each
such Trustee shall be trustee of a trust or trusts hereunder separate and apart from any trust or
trusts hereunder administered by any other such Trustee and that no Trustee shall be responsible
for any act or failure to act on the part of any other Trustee hereunder; and upon the execution
and delivery of such supplemental indenture the resignation or removal of the retiring Trustee
shall become effective to the extent provided therein, such retiring Trustee shall with respect to
the Notes to which the appointment of such successor trustee relates have no further responsibility
for the exercise of rights and powers or for the performance of the duties and obligations vested
in the Trustee under this Indenture, and each such successor trustee, without any further act, deed
or conveyance, shall become vested with all the rights, powers, trusts and duties of the retiring
Trustee with respect to the Notes to which the appointment of such successor trustee relates; but,
on request of the Company or any successor trustee, such retiring Trustee shall duly assign,
transfer and deliver to such successor trustee, to the extent contemplated by such supplemental
indenture, the property and money held by such retiring Trustee hereunder with respect to the Notes
to which the appointment of such successor trustee relates.

     (c) Upon request of any such successor trustee, the Company shall execute any and all
instruments for more fully and certainly vesting in and confirming to such successor trustee all
such rights, powers and trusts referred to in paragraph (a) or (b) of this Section 7.10, as the
case may be.

     (d) No successor trustee shall accept its appointment unless at the time of such acceptance
such successor trustee shall be qualified and eligible under this Article 7.

     (e) Upon acceptance of appointment by a successor trustee as provided in this Section 7.10,
the Company shall transmit notice of the succession of such trustee hereunder by mail, first-class
postage prepaid, to the Holders, as their names and addresses appear upon the Note Register. If
the Company fails to transmit such notice within ten days after acceptance of appointment by the
successor trustee, the successor trustee shall cause such notice to be transmitted at the expense
of the Company.

          Section 7.11. Merger, Conversion, Consolidation or Succession to Business. Any corporation into which the
Trustee may be merged or converted or with which it may be consolidated, or any corporation
resulting from any merger, conversion or consolidation to which the Trustee shall be a party, or
any corporation succeeding to all or

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substantially all the corporate trust business of the Trustee,
shall be the successor of the Trustee hereunder, provided that such corporation shall be qualified
under the provisions of Section 7.08 and eligible under the provisions of Section 7.08, without the
execution or filing of any paper or any further act on the part of any of the parties hereto,
anything herein to the contrary notwithstanding. In case any Notes shall have been authenticated,
but not delivered, by the Trustee then in office, any successor by merger, conversion or
consolidation to such authenticating Trustee may adopt such authentication and deliver the Notes so
authenticated with the same effect as if such successor Trustee had itself authenticated such
Notes.

          Section 7.12. Preferential Collection of Claims Against the Company. The Trustee shall comply with Section
311(a) of the Trust Indenture Act, excluding any creditor relationship described in Section 311(b)
of the Trust Indenture Act. A Trustee who has resigned or been removed shall be subject to Section
311(a) of the Trust Indenture Act to the extent included therein.

ARTICLE 8

Concerning the Holders

          Section 8.01. Evidence of Action by Holders. Whenever in this Indenture it is provided that the Holders of
a majority or specified percentage in aggregate principal amount of the Notes may take any action
(including the making of any demand or request, the giving of any notice, consent or waiver or the
taking of any other action), the fact that at the time of taking any such action the Holders of
such majority or specified percentage of such Notes have joined therein may be evidenced by any
instrument or any number of instruments of similar tenor executed by such Holders of such Notes in
person or by agent or proxy appointed in writing.

     If the Company shall solicit from the Holders any request, demand, authorization, direction,
notice, consent, waiver or other action, the Company may, at its option, as evidenced by an
Officers’ Certificate, fix in advance a record date for such Notes for the determination of Holders
entitled to give such request, demand, authorization, direction, notice, consent, waiver or other
action, but the Company shall have no obligation to do so. If such a record date is fixed, such
request, demand, authorization, direction, notice, consent, waiver or other action may be given
before or after the record date, but only the Holders of record at the close of business on the
record date shall be deemed to be Holders for the purposes of determining whether Holders of the
requisite proportion of Outstanding Notes have authorized or agreed or consented to such request,
demand, authorization, direction, notice, consent, waiver or other action, and for that purpose the
Outstanding Notes shall be computed as of the record date; provided, however, that no such
authorization, agreement or consent by such Holders on the record date shall be deemed effective
unless it shall become effective pursuant to the provisions of this Indenture not later than six
months after the record date.

          Section 8.02. Proof of Execution by Holders. Subject to the provisions of Section 8.01, proof of the
execution of any instrument by a Holder (such proof will not require

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notarization) or his agent or
proxy and proof of the holding by any Person of any of the Notes shall be sufficient if made in the
following manner:

     (a) The fact and date of the execution by any such Person of any instrument may be proved in
any reasonable manner acceptable to the Trustee.

     (b) The ownership of Notes shall be proved by the Note Register or by a certificate of the
Note Registrar thereof.

     The Trustee may require such additional proof of any matter referred to in this Section 8.02
as it shall deem necessary.

          Section 8.03. Who May be Deemed Owners. Prior to the due presentment for registration of transfer of any
Note, the Company, the Trustee, any Paying Agent and any Note Registrar may deem and treat the
Person in whose name such Note shall be registered upon the books of the Note Registrar as the
absolute owner of such Note (whether or not such Note shall be overdue and notwithstanding any
notice of ownership or writing thereon made by anyone other than the Note Registrar) for the
purpose of receiving payment of or on account of the principal of (including the Fundamental Change
Repurchase Price, if applicable), and interest on, such Note and for all other purposes; and
neither the Company nor the Trustee nor any paying agent nor any Note Registrar shall be affected
by any notice to the contrary.

          Section 8.04. Certain Notes Owned by Company Disregarded. In determining whether the Holders of the
requisite aggregate principal amount of Notes have concurred in any direction, consent or waiver
under this Indenture, the Notes that are owned by the Company or any other obligor on the Notes or
by any Affiliate of the Company or any other obligor on the Notes shall be disregarded and deemed
not to be Outstanding for the purpose of any such determination, except that for the purpose of
determining whether the Trustee shall be protected in relying on any such direction, consent or
waiver, only Notes that a Responsible Officer of the Trustee actually knows are so owned shall be
so disregarded. The Notes so owned that have been pledged in good faith may be regarded as
Outstanding for the purposes of this Section 8.04, if the pledgee shall establish to the
satisfaction of the Trustee the pledgee’s right so to act with respect to such Notes and that the
pledgee is not a Person directly or indirectly controlling or controlled by or under direct or
indirect common control with the Company or any such other obligor. In case of a dispute as to
such right, any decision by the Trustee taken upon the advice of counsel shall be full protection
to the Trustee.

          Section 8.05. Actions Binding on Future Holders. At any time prior to (but not after) the evidencing to the
Trustee, as provided in Section 8.01, of the taking of any action by the Holders of the majority or
percentage in aggregate principal amount of the Notes specified in this Indenture in connection
with such action, any Holder of a Note that is shown by the evidence to be included in the Notes
the Holders of which have consented to such action may, by filing written notice with the Trustee,
and upon proof of holding as provided in Section 8.02, revoke such action so far as concerns such
Note. Except as aforesaid any such action taken by the Holder of any Note shall be conclusive and
binding upon such Holder and upon all future
Holders and owners of such Note, and of any Note issued in exchange therefor, on registration
of transfer thereof or in place thereof, irrespective of whether or not any notation in regard
thereto

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is made upon such Note. Any action taken by the Holders of the majority or percentage in
aggregate principal amount of the Notes specified in this Indenture in connection with such
action shall be conclusively binding upon the Company, the Trustee and the Holders.

ARTICLE 9

Amendments; Supplements And Waivers

          Section 9.01. Without Consent of Holders. The Company and the Trustee may amend or supplement this
Indenture or the Notes without notice to or consent of any Holder of a Note for any of the
following purposes:

     (a) to add to the covenants of the Company for the benefit of the Holders of Notes;

     (b) to surrender any right or power herein conferred upon the Company;

     (c) to make provision with respect to the conversion rights of the Holders of Notes pursuant
to Section 13.11 hereof;

     (d) to provide for the assumption of the Company’s obligations to the Holders of Notes in the
case of a merger, consolidation, conveyance, transfer or lease pursuant to Article 10 hereof;

     (e) to increase the Conversion Rate; provided, however, that such increase in the Conversion
Rate shall not adversely affect the interests of the Holders of Notes in any material respect;

     (f) to comply with the requirements of the Commission in order to effect or maintain the
qualification of this Indenture under the Trust Indenture Act;

     (g) to cure any ambiguity or correct or supplement any provision herein which may be
inconsistent with any other provision herein or which is otherwise defective; provided that such
action pursuant to this clause (g) does not adversely affect the interests of the Holders of Notes
in any material respect; provided further that any amendment made solely to conform the provisions
of this Indenture to the description thereof set forth under the caption “Description of Notes” in
the Offering Memorandum shall be deemed not to adversely affect the interest of the Holders if the
Company delivers an Officers’ Certificate to the Trustee certifying that such amendment is made
solely to so conform the provisions of this Indenture;

     (h) adding guarantees with respect to the Notes;

     (i) securing the Notes;

     (j) to add or modify any other provisions which the Company and the Trustee may deem necessary
or desirable and which shall not adversely affect the interests of the Holders of Notes in any
material respect; or

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     (k) conform as necessary the Indenture and the form or terms of the Notes to the description
thereof set forth under the caption “Description of Notes” in the Offering Memorandum.

     After an amendment, supplement or waiver under this Section 9.01 becomes effective, the
Company or, at the written request of the Company, the Trustee shall mail to the Holders affected
thereby a notice briefly describing the amendment, supplement or waiver. Any failure of the
Company to mail such notice, or any defect therein, shall not, however, in any way impair or affect
the validity of any such amendment, supplement or waiver.

          Section 9.02. With Consent of Holders. Except as provided below in this Section 9.02, this Indenture or the
Notes may be amended or supplemented, and noncompliance by the Company in any particular instance
with any provision of this Indenture or the Notes may be waived, in each case (i) with the written
consent of the Holders of at least a majority in aggregate principal amount of the Notes then
Outstanding or (ii) by the adoption of a resolution, at a meeting of Holders of the Notes then
Outstanding at which a quorum is present, by the Holders of a majority in aggregate principal
amount of the Outstanding Notes represented at such meeting.

     Without the written consent or the affirmative vote of each Holder of an affected Note, an
amendment, supplement or waiver to this Indenture or the Notes may not:

     (a) change the stated maturity of the principal of, or the time of payment of any installment
of interest on, any Note;

     (b) reduce the principal amount of any Note;

     (c) reduce the interest rate or interest on any Note;

     (d) change the currency of payment of principal of or interest on any Note;

     (e) change the ranking of the Notes;

     (f) impair the right receive, or institute suit for the enforcement of any payment with
respect to, or the conversion of, any Note;

     (g) except as otherwise permitted by Section 13.11 hereof, adversely affect the right to
convert any Note as provided in Article 13 hereof;

     (h) reduce the Fundamental Change Repurchase Price or otherwise adversely affect the right of
Holders to require the Company to repurchase the Notes in the event of a Fundamental Change;

     (i) modify any of the provisions of this Section 9.02, Section 6.04 or Section 6.12, except to
increase any percentage contained herein or therein or to provide that certain other provisions of
this Indenture cannot be modified or waived without the consent of the Holder of each Note affected
thereby; or

44

 

     (j) reduce the percentage in aggregate principal amount of the Outstanding Notes required for
the adoption of a resolution or the quorum required at any meeting of Holders of Notes at which a
resolution is adopted.

     It shall not be necessary for the consent of Holders of Notes under this Section 9.02 to
approve the particular form of any proposed modification, amendment or waiver, but it shall be
sufficient if such act shall approve the substance thereof.

     After an amendment, supplement or waiver under this Section 9.02 becomes effective, the
Company, or, at the written request of the Company, the Trustee, shall mail to the Holders affected
thereby a notice briefly describing the amendment, supplement or waiver. Any failure of the
Company to mail such notice, or any defect therein, shall not, however, in any way impair or affect
the validity of any such amendment, supplement or waiver.

          Section 9.03. Effect of Supplemental Indentures. Upon the execution of any supplemental indenture pursuant
to the provisions of this Article 9 or Section 10.01 this Indenture shall be and be deemed to be
modified and amended in accordance therewith and the respective rights, limitations of rights,
obligations, duties and immunities under this Indenture of the Trustee, the Company and the Holders
of Notes affected thereby shall thereafter be determined, exercised and enforced hereunder subject
in all respects to such modifications and amendments, and all the terms and conditions of any such
supplemental indenture shall be and be deemed to be part of the terms and conditions of this
Indenture for any and all purposes.

          Section 9.04. Notes Affected by Supplemental Indentures. Notes affected by a supplemental indenture,
authenticated and delivered after the execution of such supplemental indenture pursuant to the
provisions of this Article 9 or Section 10.01, may bear a notation in form approved by the Company
as to any matter provided for in such supplemental indenture; provided such form meets the
requirements of any securities exchange upon which such Notes may be listed. If the Company shall
so determine, new securities so modified as to conform, in the opinion of the Board of Directors,
to any modification of this Indenture contained in any such supplemental indenture may be prepared
by the Company, authenticated by the Trustee and delivered in exchange for the Notes then
Outstanding.

          Section 9.05. Execution of Supplemental Indentures. Upon the request of the Company, accompanied by its
Board Resolutions authorizing the execution of any such supplemental indenture, and upon the filing
with the Trustee of evidence of the consent of Holders required to consent thereto as aforesaid (if
such consent is required pursuant to this Article), the Trustee shall join with the Company in the
execution of such supplemental indenture unless such supplemental indenture affects the Trustee’s
own rights, duties or immunities under this Indenture or otherwise, in which case the Trustee may
in its discretion but shall not be obligated to enter into such supplemental indenture. The
Trustee, subject to the provisions of Section 7.01, shall receive and will be fully protected in
conclusively relying upon an Officers’ Certificate and an Opinion of Counsel stating that any
supplemental indenture executed pursuant to this Article is authorized or permitted by the terms of
this Article 9 and constitutes a valid, binding and legal obligation, enforceable against the
Company (subject to customary qualifications).

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     Promptly after the execution by the Company and the Trustee of any
supplemental indenture pursuant to the provisions of this Section, the Company shall
transmit by mail, first class postage prepaid, a notice, setting forth in general
terms the substance of such supplemental indenture, to the Holders of all Notes
affected thereby as their names and addresses appear upon the Note Register. Any
failure of the Company to mail such notice, or any defect therein, shall not, however,
in any way impair or affect the validity of any such supplemental indenture.

ARTICLE 10

Consolidation;
Merger; Conveyance; Transfer Or Lease

          Section 10.01. Company May Consolidate, Etc., Only on Certain Terms. The
Company may not, without the consent of the Holders, consolidate with, merge into or
convey, transfer or lease all or substantially all of the property and assets of the
Company and its Subsidiaries, taken as a whole, to another Person (other than a
transfer of all or substantially all of the assets of the Company and its
Subsidiaries, taken as a whole, to one or more direct or indirect wholly-owned
Subsidiaries) unless:

     (a) either (1) the Company shall be the resulting or surviving corporation or (2)
the Person (if other than the Company) formed by such consolidation or into which the
Company is merged, or the Person which acquires by transfer or lease all or
substantially all of the property and assets of the Company, shall (i) be a
corporation, limited liability company, partnership or trust organized and existing
under the laws of the United States of America or any State thereof or the District of
Columbia, in each case, that is treated as a corporation for U.S. federal income tax
purposes, and the property into which the Notes are convertible shall be the stock or
other equity of an entity that is treated as a corporation for U.S. federal income tax
purposes, and (ii) expressly assume, by an indenture supplemental hereto, executed and
delivered to the Trustee, in form reasonably satisfactory to the Trustee, the
obligations of the Company under the Notes and this Indenture;

     (b) at the time of, and after giving effect to, such transaction, no Default or
Event of Default shall have occurred and be continuing; and

     (c) if the Company will not be the resulting or surviving corporation, the
Company shall have, at or prior to the effective date of such consolidation, merger,
conveyance, transfer or lease, delivered to the Trustee an Officers’ Certificate and
an Opinion of Counsel, each stating that such consolidation, merger, conveyance,
transfer or lease complies with this Article 10 and, if a supplemental indenture is
required in connection with such transaction, such supplemental indenture complies
with this Article 10, and that all conditions precedent herein provided for relating
to such transaction have been complied with.

          Section 10.02. Successor Substituted. Upon any consolidation of the Company with,
or merger of the Company into, any other Person or any conveyance, transfer or lease of
all or substantially all of the properties and assets of the Company and its
Subsidiaries, taken as a whole, in accordance with Section 10.01, the successor Person
formed by such consolidation or into which the Company is merged or to which such
conveyance, transfer or lease is made shall succeed to, and be substituted for, and may
exercise every right and power of,

46

 

the Company under this Indenture with the same effect as if such successor
Person had been named as the Company herein, and thereafter, except in the case of a
lease, and except for obligations the predecessor Person may have under a
supplemental indenture, the predecessor Person shall be relieved of all obligations
and covenants under the Indenture and the Notes.

ARTICLE 11

Omitted

ARTICLE 12

Additional
Interest

          Section 12.01. Additional Interest. (a) If, at any time during the
six-month period beginning on, and including, the date that is six months after the
last date of original issuance of the Notes and ending on the date that is one year
after the last date of the original issuance of the Notes, the Company either (i) fails
to timely file any periodic report that the Company is required to file with the
Commission under Section 13 or 15(d) of the Exchange Act, as applicable (after giving
effect to all applicable grace periods thereunder and other than reports on Form 8-K),
or (ii) the Notes are not otherwise freely tradable pursuant to Rule 144 by Holders of
the Notes other than the Company’s Affiliates, or under the terms of this Indenture or
the Notes, then in either case (an “Additional Interest Event”), the Company shall pay
additional interest on the Notes (the “Additional Interest ”). Such Additional Interest
will accrue on the Notes at the rate of 0.25% per annum of the principal amount of
Notes Outstanding for each day during the first 90-day period (or portion thereof) for
which an Additional Interest Event has occurred and is continuing, which rate shall
increase by an additional 0.25% per annum of the principal amount of the Notes, up to a
maximum of 0.50% per annum of the principal amount of the Notes for each day thereafter
for which an Additional Interest Event has occurred and is continuing.

     (b) Unless:

          (i) the Restrictive Legend on the Notes has been removed; or

          (ii) the Notes are freely tradable pursuant to Rule 144 by Holders other
than the Company’s Affiliates (without restrictions pursuant to
U.S. securities
law or the terms of this Indenture or the Notes), on or after the 365th day after
the last date of original issuance of the Notes, an Additional Interest Event
shall be deemed to have occurred and the Company shall pay Additional Interest on
the Notes at an annual rate equal to 0.50% of the aggregate principal amount of
the Notes Outstanding for each day until the Notes are freely tradable as
described above.

     (c) Notwithstanding the foregoing, the Company shall not be required to pay
Additional Interest on any date if (i) the Company has filed a shelf registration
statement for the resale of the Notes and any shares of Common Stock issued upon
conversion of the Notes, (ii) such shelf registration statement is effective and usable
by Holders of the Notes identified therein as selling securityholders for the resale of
the Notes and any shares of Common Stock issued

47

 

upon conversion of the Notes and (iii) such Holders may register the resale of
their Notes under such shelf registration statement on terms customary for the resale
of convertible securities offered in reliance on Rule 144A.

     (d) Under no circumstances will the combined rate of Additional Interest or
Special Interest exceed 1.00% per annum.

     (e) Additional Interest shall be payable in arrears on each Interest Payment
Date following accrual in the same manner as regular interest on the Notes.

     (f) The Company shall provide written notice to the Trustee prior to paying
any Additional Interest.

ARTICLE 13

Conversion
Of Notes

          Section 13.01. Conversion Privilege and Conversion Rate. (a) Subject to
and upon compliance with the provisions of this Article 13, each Holder of a Note
shall have the right, at such Holder’s option, to convert any or all of such Holder’s
Notes at the Conversion Rate during the periods set forth in Section 13.01(b).

     (b) The conversion rights pursuant to this Article 13 shall commence on the Issue
Date of the Notes and expire at the close of business on the Business Day immediately
preceding the Maturity Date, subject to the provisions of this Indenture and, in the
case of conversion of any Global Note, to any Applicable Procedures. If a Note is
submitted or presented for purchase pursuant to Article 16, subject to the last
paragraph of Section 13.03(b), such conversion right shall terminate at the close of
business on the Business Day prior to the Fundamental Change Repurchase Date for such
Note, as the case may be (unless the Company shall fail to make the Fundamental Change
Repurchase Price payment when due in accordance with Article 16, if applicable, in
which case the conversion right shall terminate at the close of business on the
Business Day prior to the date such failure is cured and such Note is repurchased).

     (c) A Holder may convert fewer than all of such Holder’s Notes only if (i) the
principal amount of Notes converted is an integral multiple of $1,000 and (ii) the
portion of such Holder’s Notes not so converted is in a minimum principal amount of
$2,000. Provisions of this Indenture that apply to conversion of all of a Note also
apply to conversion of a portion of a Note.

     (d) A Holder of Notes is not entitled to any rights of a holder of Common Stock
until such Holder has converted its Notes into Common Stock, and only to the extent
such Notes are deemed to have been converted into Common Stock pursuant to this
Article 13.

     (e) The Conversion Rate shall be adjusted in certain instances as provided in Section
13.02 and Section 13.07.

     (f) By delivering the number of shares of Common Stock issuable on conversion to
the Trustee, plus a cash payment for any fractional share, the Company shall be deemed
to have

48

 

satisfied its obligation to pay the principal amount of the Notes so converted
and its obligation to pay accrued and unpaid interest attributable to the period from
the most recent Interest Payment Date through the Conversion Date (which amount will be
deemed paid in full rather than canceled, extinguished or forfeited).

          Section 13.02. Make-Whole Fundamental Change Premium. (a) If the Make-Whole
Fundamental Change Effective Date for any Make -Whole Fundamental Change shall have
occurred, then the Company shall calculate and pay a “Make- Whole Fundamental Change
Premium” to the Holders of the Notes who convert their Notes in connection with such
Make-Whole Fundamental Change by adding such Make-Whole Fundamental Change Premium to
the Conversion Rate for such Notes. A conversion of Notes shall be deemed for these
purposes to be “in connection with” such Make-Whole Fundamental Change if the relevant
Notice of Conversion delivered pursuant to Section 13.03(a) is received by the
Conversion Agent on, or subsequent to, the relevant Make-Whole Fundamental Change
Effective Date but before the related Fundamental Change Purchase Date. The Fundamental
Make-Whole Change Premium shall be in addition to, and not in substitution for, any
cash, securities or other assets otherwise due to Holders of Notes upon conversion. The
number of additional shares of Common Stock per $1,000 principal amount of Notes
constituting the Make-Whole Fundamental Change Premium shall be determined by reference
to the table set forth in Section 13.02(b), based on the Make-Whole Fundamental Change
Effective Date and the Stock Price. If the holders of Common Stock receive only cash in
the Make-Whole Fundamental Change, the Stock Price shall be the cash amount paid per
share of Common Stock in connection with such Make-Whole Fundamental Change. Otherwise,
the Stock Price shall be equal to the average Last Reported Sale Price of the Common
Stock over the ten Trading Day period ending on the Trading Day immediately preceding,
and excluding, the applicable Make-Whole Fundamental Change Effective Date.

     (b) The following table sets forth the number of Additional Shares to be received
per $1,000 principal amount of Notes pursuant to this Section 13.02(b) for each Stock
Price and Make-Whole Fundamental Change Effective Date set forth below:

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Effective Date	 	$27.67	 	$35.00	 	$38.05	 	$45.00	 	$50.00	 	$60.00	 	$80.00	 	$100.00	 	$150.00	 	$200.00
	April 5, 2011

	 	 	9.8564	 	 	 	6.6551	 	 	 	5.8103	 	 	 	4.4641	 	 	 	3.8069	 	 	 	2.9203	 	 	 	1.9626	 	 	 	1.4564	 	 	 	0.8138	 	 	 	0.5042	 
	April 1, 2012

	 	 	9.8564	 	 	 	6.4199	 	 	 	5.5416	 	 	 	4.1694	 	 	 	3.5171	 	 	 	2.6602	 	 	 	1.7713	 	 	 	1.3136	 	 	 	0.7382	 	 	 	0.4604	 
	April 1, 2013

	 	 	9.8564	 	 	 	6.1637	 	 	 	5.2387	 	 	 	3.8296	 	 	 	3.1817	 	 	 	2.3617	 	 	 	1.5507	 	 	 	1.1498	 	 	 	0.6504	 	 	 	0.4085	 
	April 1, 2014

	 	 	9.8564	 	 	 	5.8478	 	 	 	4.8649	 	 	 	3.4133	 	 	 	2.7748	 	 	 	2.0053	 	 	 	1.2984	 	 	 	0.9630	 	 	 	0.5490	 	 	 	0.3471	 
	April 1, 2015

	 	 	9.8564	 	 	 	5.4240	 	 	 	4.3734	 	 	 	2.8848	 	 	 	2.2696	 	 	 	1.5801	 	 	 	1.0112	 	 	 	0.7525	 	 	 	0.4329	 	 	 	0.2754	 
	April 1, 2016

	 	 	9.8564	 	 	 	4.8248	 	 	 	3.6946	 	 	 	2.1924	 	 	 	1.6336	 	 	 	1.0793	 	 	 	0.6925	 	 	 	0.5205	 	 	 	0.3024	 	 	 	0.1935	 
	April 1, 2017

	 	 	9.8564	 	 	 	3.8347	 	 	 	2.6220	 	 	 	1.2206	 	 	 	0.8179	 	 	 	0.5210	 	 	 	0.3539	 	 	 	0.2695	 	 	 	0.1574	 	 	 	0.1012	 
	April 1, 2018

	 	 	9.8564	 	 	 	2.2876	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000	 

     The exact Stock Prices and Make-Whole Fundamental Change Effective Dates
may not be set forth in the table above, in which case:

     (i) if the Stock Price is between two Stock Prices in the table above or the
Make-Whole Fundamental Change Effective Date is between two Make-Whole
Fundamental Change Effective Dates in the table above, the Make-Whole Fundamental
Change Premiums shall be determined by a straight-line interpolation between the
Make-Whole Fundamental Change Premiums set forth for the higher and lower Stock
Prices

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and the earlier and later Make-Whole Fundamental Change
Effective Dates, as applicable, based on a 365-day year;

(ii) if the Stock Price is greater than $200.00 per share (subject to
adjustment in the same manner as the Stock Prices set forth in the column
headings of the table above pursuant to subsection (c) below), no Make-Whole
Fundamental Change Premium shall be added to the Conversion Rate; and

(iii) if the Stock Price is less than $27.67 per share (subject to
adjustment in the same manner as the Stock Prices set forth in the column
headings of the table above pursuant to subsection (c) below), no Make-Whole
Fundamental Change Premium shall be added to the Conversion Rate.

     (c) The Stock Prices set forth in the first row of the table above in Section
13.02(b) shall be adjusted, as of any date on which the Conversion Rate of the Notes is
adjusted other than an adjustment to the Conversion Rate by adding the Make-Whole
Fundamental Change Premium. The adjusted Stock Prices shall equal the Stock Prices
applicable immediately prior to such adjustment multiplied by a fraction, the numerator
of which is the Conversion Rate immediately prior to the adjustment giving rise to the
Stock Price adjustment and the denominator of which is the Conversion Rate as so
adjusted. The Make-Whole Fundamental Change Premiums set forth in the table above shall
be adjusted in the same manner as the Conversion Rate as set forth in Section 13.07
hereof, other than as a result of an adjustment to the Conversion Rate by adding the
Make-Whole Fundamental Change Premium.

     (d) The Company, or, at the written request of the Company, the Trustee, shall
mail written notice of the anticipated Make-Whole Fundamental Change Effective Date of
any Make-Whole Fundamental Change to the Holders (with a copy to the Trustee if
applicable) as promptly as practicable following the date the Company publicly
announces such Make-Whole Fundamental Change, but in no event less than 20 days prior
to the anticipated Make-Whole Fundamental Change Effective Date (the “Make-Whole
Fundamental Change Notice”).

     (e) Notwithstanding the foregoing, in no event shall the Conversion Rate
exceed 36.1402 per $1,000 principal amount as a result of this Section 13.02,
subject to proportional adjustment in the same manner as the Conversion Rate as set
forth in Section 13.07 hereof.

     (f) The Make-Whole Fundamental Change Premium shall be delivered upon the
settlement date for the conversion.

          Section 13.03. Conversion Procedure. (a) To convert a Physical Note, a Holder must
(1) complete and manually sign the Notice of Conversion on the back of the Note, or
facsimile of such Notice of Conversion, and deliver such Notice of Conversion to the
Conversion Agent, which shall become irrevocable upon receipt by the Conversion Agent,
(2) surrender the Note to the Conversion Agent, (3) furnish appropriate endorsements
and transfer documents if required by the Note Registrar or the Conversion Agent, (4)
pay an amount equal to the interest payable on the next Interest Payment Date to which
the Holder is not entitled as required by Section 13.03(c) and (5) pay all transfer or
similar taxes, if required pursuant to Section 13.05. Anything herein to the contrary
notwithstanding, in the case of Global Notes,

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Notices of Conversion may be delivered and such Notes may be surrendered for
conversion in accordance with clauses (3), (4) and (5) of this Section 13.03(a) and
the Applicable Procedures as in effect from time to time. The date on which the
Holder satisfies all the applicable requirements set forth in this Section 13.03(a)
is the “Conversion Date.”

     (b) Each conversion shall be deemed to have been effected as to any Notes
surrendered for conversion on the Conversion Date, the person in whose name the shares
of Common Stock shall be issuable upon conversion shall be deemed to be the holder of
record of such Common Stock as of the close of business on such Conversion Date, and
the Company shall deliver the consideration due in respect of any conversion on the
third Business Day immediately following the relevant Conversion Date; provided,
however, that no surrender of a Note on any Conversion Date when the stock transfer
books of the Company shall be closed shall be effective to constitute the person or
persons entitled to receive the shares of Common Stock upon conversion as the record
holder or holders of such shares of Common Stock on such date, but such surrender shall
be effective to constitute the person or persons entitled to receive such shares of
Common Stock as the record holder or holders thereof for all purposes at the close of
business on the next succeeding day on which such stock transfer books are open. Upon
conversion of a Note, such person shall no longer be the Holder of such Note and (i)
such Note will cease to be Outstanding, (ii) interest will cease to accrue on such Note
and (iii) all other rights of such person in respect of such Note will terminate (other
than the right to receive the consideration due upon conversion of such Note). Except
as set forth in this Indenture, no payment or adjustment will be made for dividends or
distributions declared or made on shares of Common Stock issued upon conversion of a
Note prior to the issuance of such shares.

     A Holder that has delivered a Fundamental Change Repurchase Notice pursuant to
Section 16.01 with respect to a Note may not surrender such Note for conversion until
such Holder has withdrawn the Fundamental Change Repurchase Notice in accordance with
Section 16.01.

     (c) Holders of Notes surrendered for conversion (in whole or in part) during the
period from the close of business on any Regular Record Date to the open of business on
the next succeeding Interest Payment Date will receive the semiannual interest payable
on the principal amount of such Notes being surrendered for conversion on the
corresponding Interest Payment Date notwithstanding the conversion. Upon surrender of
any such Notes for conversion, such Notes shall also be accompanied by payment in funds
to the Conversion Agent acceptable to the Company of an amount equal to the interest
payable on such corresponding Interest Payment Date (but excluding any overdue interest
on the principal amount of such Note so converted if any overdue interest exists at the
time such Holder surrenders such Note for conversion); provided, however, that no such
payment need be made (i) if the Company has specified a Fundamental Change Repurchase
Date that is after such Regular Record Date and on or prior to the next succeeding
Interest Payment Date, or (ii) if conversion occurs after the last Regular Record Date
prior to the Maturity Date. Except as otherwise provided in this Section 13.03(c), no
payment or adjustment will be made for accrued interest on a converted Note and any
such accrued interest shall be deemed satisfied and extinguished.

     (d) Subject to Section 13.03(c), nothing in this Section 13.03 shall affect the
right of a Holder in whose name any Note is registered at the close of business on a
Regular Record Date

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to receive the interest payable on such Note on the related Interest Payment
Date in accordance with the terms of this Indenture and the Notes. If a Holder
converts more than one Note at the same time, the number of shares of Common Stock
issuable upon the conversion (and the amount of any cash in lieu of fractional shares
pursuant to Section 13.04) shall be based on the aggregate principal amount of all
Notes so converted.

     (e) In the case of any Note which is converted in part only, upon such conversion
the Company shall execute and the Trustee shall authenticate and deliver to the Holder
thereof, without service charge, a new Note or Notes of authorized denominations in an
aggregate principal amount equal to, and in exchange for, the unconverted portion of
the principal amount of such Note.

          Section 13.04. Fractional Shares. No fractional shares of Common Stock shall be
issued upon conversion of any Note or Notes. Instead of any fractional share of Common
Stock which would otherwise be issued upon conversion of any Note or Notes (or
specified portions thereof), the Company shall pay a cash adjustment in respect of such
fraction (calculated to the nearest one-100th of a share) in an amount equal to the
same fraction of the Last Reported Sale Price of the Common Stock as of the Business
Day preceding the Conversion Date.

          Section 13.05. Taxes on Conversion. Except as provided in the next sentence, the
Company shall pay any and all documentary, stamp or similar issue or transfer tax due
and duties on the issuance of shares of Common Stock upon conversion of Notes pursuant
hereto. A Holder delivering a Note for conversion shall be liable for and shall be
required to pay any tax or duty which may be payable in respect of any transfer
involved in the issue and delivery of shares of Common Stock in a name other than that
of the Holder of the Note or Notes to be converted, and no such issue or delivery shall
be made unless the Person requesting such issue has paid to the Company the amount of
any such tax or duty, or has established to the satisfaction of the Company that such
tax or duty has been paid.

          Section 13.06. Company to Provide Common Stock. (a) The Company shall, prior to
issuance of any Notes hereunder, and from time to time as may be necessary, reserve,
out of its authorized but unissued Common Stock, a sufficient number of shares of
Common Stock to permit the conversion of all Outstanding Notes into shares of Common
Stock.

     (b) All shares of Common Stock delivered upon conversion of the Notes shall be
newly issued shares, shall be duly authorized, validly issued, fully paid and
nonassessable and shall be free from preemptive or similar rights and free of any lien
or adverse claim as the result of any action by the Company.

          Section 13.07. Adjustment of Conversion Rate. The Conversion Rate shall be
adjusted from time to time by the Company if any of the following events occurs, except
that the Company shall not make any adjustments to the Conversion Rate if Holders of
the Notes participate (other than in the case of a share split or share combination),
at the same time and upon the same terms as holders of the Common Stock and solely as a
result of holding the Notes, in any of the transactions described in this Section
13.07, without having to convert their Notes,

52

 

as if they held a number of shares of Common Stock equal to the Conversion
Rate, multiplied by the principal amount (expressed in thousands) of Notes held by
such Holder.

     (a) If the Company issues shares of Common Stock as a dividend or distribution on
shares of Common Stock, or effects a share split or share combination, the Conversion
Rate shall be adjusted based on the following formula:

	 	 	 	 	 

	CR1 = CR0 x 

	OS1
	 
	OS0	 

where,

	 	 	 	 	 

	CR0

	 	=
	 	the applicable Conversion Rate in
effect immediately prior to the open of business on the Ex-Dividend
Date for such dividend or distribution, or immediately prior to the open of business on the effective date of such share split or share combination, as the case may be;
	 

	 	 	 	
	CR1

	 	=
	 	the applicable Conversion Rate in
effect immediately after the open of business on the Ex-Dividend Date
for such dividend or distribution, or immediately after the open of business on the effective date of such share split or share combination, as the case may be;
	 

	 	 	 	
	OS0

	 	=
	 	the number of shares of Common
Stock outstanding immediately prior to the open of business on the Ex-Dividend Date for such dividend or distribution, or immediately prior to the effective date of such share split or share combination, as the case may be; and
	 

	 	 	 	
	OS1

	 	=
	 	the number of shares of Common
Stock outstanding immediately after giving effect to such dividend, distribution, share split or share combination, as the case may be.

     Any adjustments made pursuant to this Section 13.07(a) shall become
effective immediately after (x) the open of business on the Ex-Dividend Date for such
dividend or distribution or (y) the open of business on the effective date of such
split or combination, as applicable. If any dividend or distribution described in this
Section 13.07(a) is declared but not so paid or made, effective as of the date the
Board of Directors determines not to pay such dividend or distribution, the new
Conversion Rate shall again be adjusted to the Conversion Rate that would then be in
effect if such dividend or distribution had not been declared.

     (b) If the Company distributes to all or substantially all holders of Common Stock
any rights, options or warrants entitling them to purchase, for a period of not more
than 45 days after the Ex-Dividend Date for the distribution, shares of Common Stock at
a price per share less than the average of the Last Reported Sale Prices of the Common
Stock for the ten consecutive Trading Day period ending on the Trading Day immediately
preceding the announcement date for such distribution, the Conversion Rate shall be
adjusted based on the following formula:

	 	 	 	 	 

	CR1 = CR0 x

	 	OS0 + X
	 	 
	 	OS0 + Y	 	 

where,

	 	 	 	 	 

	CR0

	 	=
	 	the Conversion Rate in effect
immediately prior to the open of business on the Ex-Dividend Date for such distribution;
	 

	 	 	 	
	CR1

	 	=
	 	the new Conversion Rate in effect
immediately after the open of business on the Ex-Dividend Date for such distribution;
	 

	 	 	 	
	OS0

	 	=
	 	the number of shares of Common Stock outstanding immediately prior to the open of business on the Ex-Dividend Date for such distribution;
	 

	 	 	 	
	X

	 	=
	 	the total number of shares of Common Stock issuable pursuant to such rights, options or warrants; and

53

 

	 	 	 	 	 

	Y

	 	=
	 	the number of shares of Common Stock equal to the aggregate price payable to
exercise such rights, options or warrants divided by the average of the Last
Reported Sale Prices of the Common Stock over the ten consecutive Trading Day
period ending on the Trading Day immediately preceding the declaration date for
such distribution.

     For purposes of this Section 13.07(b), in determining whether any rights,
options or warrants entitle the holders to subscribe for or purchase shares of Common
Stock at less than the average of the Last Reported Sale Prices of the Common Stock for
the applicable ten consecutive Trading Day period, there shall be taken into account
any consideration received by the Company for such rights, options or warrants and any
amount payable on exercise thereof, with the value of such consideration if other than
cash, to be determined by the Board of Directors.

     Any adjustment made pursuant to this Section 13.07(b) shall be made successively
whenever any such rights, options or warrants are distributed and shall become
effective immediately after the open of business on the Ex-Dividend Date for such
distribution. To the extent that shares of Common Stock are not delivered after the
expiration of such rights, options or warrants, the Conversion Rate shall be decreased
to the Conversion Rate that would then be in effect had the increase with respect to
the issuance of such rights, options or warrants been made on the basis of delivery of
only the number of shares of Common Stock actually delivered. If such rights, options
or warrants are not so distributed, the Conversion Rate shall be decreased to the
Conversion Rate that would then be in effect if the Ex-Dividend Date for such
distribution had not occurred.

     (c) If the Company distributes shares of its Capital Stock, evidences of its
indebtedness or other assets or property of the Company or rights, options or warrants
to acquire its Capital Stock or other securities, to all or substantially all holders
of the Common Stock, excluding:

          (i) dividends, distributions (including share splits), rights, options or
warrants as to which an adjustment is effected in Section 13.07(a), Section
13.07(b) or Section 13.07(e);

          (ii) dividends or distributions covered by Section 13.07(d);

          (iii) dividends or distributions that constitute Reference Property
following an event described in Section 13.11; and

          (iv) Spin-Offs to which the provisions set forth below in this Section
13.07(c)
shall apply,

then the applicable Conversion Rate shall be adjusted based on the following formula:

	 	 	 	 	 

	CR1 = CR0 x

	 	SP0
	 	 
	 

	SP0 – FMV	 	 

where,

	 	 	 	 	 

	CR0

	 	=
	 	the applicable Conversion Rate in effect immediately prior to the open of business on the Ex-Dividend
Date for such distribution;

54

 

	 	 	 	 	 

	CR1

	 	=
	 	the applicable Conversion Rate in effect immediately after the open of business on the Ex-Dividend Date
for such distribution;
	 
	SP0

	 	=
	 	the average of the Last Reported Sale Prices of the Common Stock over the ten consecutive Trading Day
period ending on, and including, the Trading Day immediately preceding the Ex-Dividend Date for such
distribution; and
	 
	FMV

	 	=
	 	the fair market value (as determined in good faith by the Board of Directors) of the shares of Capital
Stock, evidences of indebtedness, assets, property, rights, options or warrants distributed with
respect to
each outstanding share of Common Stock as of the open of business on the Ex-Dividend Date for such
distribution.

     Any adjustment made under the portion of this Section 13.07(c) above
shall become effective immediately after the open of business on the Ex-Dividend Date
for such distribution. If such distribution is not so paid or made, the Conversion
Rate shall be decreased to the Conversion Rate that would then be in effect if such
dividend or distribution had not been declared.

     If “FMV” as set forth above is equal to or greater than
“SP0” as set forth above, in lieu of the foregoing adjustment,
Holders of the Notes shall receive, in respect of each $1,000 principal amount of
Notes, at the same time and upon the same terms as holders of Common Stock, the amount
and kind of the Company’s Capital Stock, evidences of its indebtedness, other assets
or property of the Company or rights, options or warrants to acquire the Company’s
Capital Stock or other securities that such Holder would have received if such Holder
owned a number of shares of Common Stock equal to the applicable Conversion Rate in
effect immediately prior to the open of business on the Ex-Dividend Date for the
distribution.

     With respect to an adjustment pursuant to this Section 13.07(c) where there has
been a payment of a dividend or other distribution on the Common Stock of shares of
the Capital Stock of any class or series, or similar equity interest, of or relating
to a Subsidiary or other business unit that are, or, when issued, will be, traded or
quoted on any national or regional securities exchange or other market (a “Spin-Off”),
the applicable Conversion Rate shall instead be adjusted based on the following
formula:

	 	 	 	 	 

	CR1 = CR0 x

	 	FMV0 + MP0
	 	 
	 	MP0	 	 

where,

	 	 	 	 	 

	CR0

	 	=
	 	the applicable Conversion Rate in effect immediately prior to the end of the Valuation Period;
	 
	CR1

	 	=
	 	the applicable Conversion Rate in effect immediately after the end of the Valuation Period;
	 
	FMV0

	 	=
	 	the average of the Last Reported Sale Prices of the Capital Stock of the Company or similar equity
interest distributed to holders of Common Stock applicable to one share of Common Stock (determined
by reference to the definition of Last Reported Sale Price as set forth in Section 1.01 as if references
therein to Common Stock were to such Capital Stock or similar equity interest) over the first ten
consecutive Trading Day period immediately following the Ex-Dividend Date for such Spin-Off (such
period, the “Valuation Period”); and
	 
	MP0

	 	=
	 	the average of the Last Reported Sale Prices of Common Stock over the Valuation Period.

     Such adjustment shall occur immediately after the tenth Trading Day
immediately following the Ex-Dividend Date of such Spin-Off; provided that, for
purposes of determining the Conversion Rate in respect of any conversion during the ten
Trading Days following the Ex-

55

 

Dividend Date of any Spin-Off, references within the previous paragraph related
to “Spin-Offs” to ten Trading Days shall be deemed replaced with such lesser number of
Trading Days as have elapsed between the Ex-Dividend Date of such Spin-Off and the
relevant Conversion Date. If any such dividend or distribution described in the
preceding paragraph of this Section 13.07(c) is declared but not paid or made, the new
Conversion Rate shall be readjusted to be the Conversion Rate that would then be in
effect if such dividend or distribution had not been declared.

     For purposes of this Section 13.07(c) (and subject in all respect to Section
13.14), rights, options or warrants distributed by the Company to all holders of its
Common Stock entitling them to subscribe for or purchase shares of the Company’s
Capital Stock, including Common Stock (either initially or under certain
circumstances), which rights, options or warrants, until the occurrence of a specified
event or events (“Trigger Event”), (i) are deemed to be transferred with such shares of
the Common Stock, (ii) are not exercisable, and (iii) are also issued in respect of
future issuances of the Common Stock, shall be deemed not to have been distributed for
purposes of this Section 13.07(c) (and no adjustment to the Conversion Rate under this
Section 13.07(c) shall be required) until the occurrence of the earliest Trigger Event,
whereupon such rights, options or warrants shall be deemed to have been distributed and
an appropriate adjustment (if any is required) to the Conversion Rate shall be made
under this Section 13.07(c). If any such right, option or warrant, including any such
existing rights, options or warrants distributed prior to the date of this Indenture,
are subject to events, upon the occurrence of which such rights, options or warrants
become exercisable to purchase different securities, evidences of indebtedness or other
assets, then the date of the occurrence of any and each such event shall be deemed to
be the date of distribution and Ex-Dividend Date with respect to new rights, options or
warrants with such rights (in which case the existing rights, options or warrants shall
be deemed to terminate and expire on such date without exercise by any of the holders
thereof). In addition, in the event of any distribution (or deemed distribution) of
rights, options or warrants, or any Trigger Event or other event of the type described
in the immediately preceding sentence with respect thereto that was counted for
purposes of calculating a distribution amount for which an adjustment to the Conversion
Rate under this Section 13.07(c) was made, (1) in the case of any such rights, options
or warrants that shall all have been redeemed or purchased without exercise by any
holders thereof, upon such final redemption or purchase (x) the Conversion Rate shall
be readjusted as if such rights, options or warrants had not been issued and (y) the
Conversion Rate shall then again be readjusted to give effect to such distribution,
deemed distribution or Trigger Event, as the case may be, as though it were a cash
distribution, equal to the per share redemption or purchase price received by a holder
or holders of Common Stock with respect to such rights, options or warrants (assuming
such holder had retained such rights, options or warrants), made to all holders of
Common Stock as of the date of such redemption or purchase, and (2) in the case of such
rights, options or warrants that shall have expired or been terminated without exercise
by any holders thereof, the Conversion Rate shall be readjusted as if such rights,
options and warrants had not been issued.

     For purposes of Section 13.07(a), Section 13.07(b) and this Section 13.07(c), any
dividend or distribution to which this Section 13.07(c) is applicable that also
includes one or both of:

     (A) a dividend or distribution of shares of Common Stock to which Section
13.07(a) is applicable (the “Clause A Distribution”); or

56

 

     (B) a dividend or distribution of rights, options or warrants to which
Section 13.07(b) is applicable (the “Clause B Distribution”),

then (1) such dividend or distribution, other than the Clause A Distribution and the
Clause B Distribution, shall be deemed to be a dividend or distribution to which this
Section 13.07(c) is applicable (the “Clause C Distribution”) and any Conversion Rate
adjustment required by this Section 13.07(c) with respect to such Clause C Distribution
shall then be made, and (2) the Clause A Distribution and Clause B Distribution shall
be deemed to immediately follow the Clause C Distribution and any Conversion Rate
adjustment required by Section 13.07(a) and Section 13.07(b) with respect thereto shall
then be made, except that, if determined by the Company (I) the
“Ex-Dividend Date” of
the Clause A Distribution and the Clause B Distribution shall be deemed to be the
Ex-Dividend Date of the Clause C Distribution and (II) any shares of Common Stock
included in the Clause A Distribution or Clause B Distribution shall be deemed not to
be “outstanding immediately prior to such dividend, distribution, share split or share
combination, as the case may be” within the meaning of Section 13.07(a) or “outstanding
immediately prior to the open of business on the Ex-Dividend Date for such
distribution” within the meaning of Section 13.07(b).

     (d) If any cash dividend or distribution is made to all or substantially all
holders of Common Stock, the Conversion Rate shall be adjusted based on the
following formula:

	 	 	 	 	 

	CR1 = CR0 x

	 	SP0
	 	 
	 	SP0– C	 	 

where,

	 	 	 	 	 

	CR0

	 	=
	 	the applicable Conversion Rate in effect immediately prior to the open of business on the Ex-Dividend
Date for such dividend or distribution;
	 	 	 	 	 
	CR1

	 	=
	 	the applicable Conversion Rate in effect immediately after the open of business on the Ex-Dividend Date
for such dividend or distribution;
	 	 	 	 	 
	SP0

	 	=
	 	the average of the Last Reported Sale Prices of the Common Stock over the ten consecutive Trading Day
period ending on, and including, the Trading Day immediately preceding the Ex-Dividend Date for such
dividend or distribution; and
	 	 	 	 	 
	C

	 	=
	 	the amount in cash per share of Common Stock the Company distributes to holders of Common Stock.

     An adjustment to the Conversion Rate made pursuant to this Section
13.07(d) shall become effective immediately after the open of business on the
Ex-Dividend Date for the applicable dividend or distribution. If any dividend or
distribution described in this Section 13.07(d) is declared but not so paid or made,
the new Conversion Rate shall be readjusted to the Conversion Rate that would then be
in effect if such dividend or distribution had not been declared.

     If “C” as set forth above is equal to or greater than
“SP0” as set forth above, in lieu of the foregoing adjustment,
each Holder of a Note shall receive, for each $1,000 principal amount of Notes, at the
same time and upon the same terms as holders of shares of Common Stock, the amount of
cash that such Holder would have received if such Holder owned a number of shares of
Common Stock equal to the applicable Conversion Rate in effect immediately prior to
the open of business on the Ex-Dividend Date for such cash dividend or distribution.

57

 

     (e) If the Company or any of its Subsidiaries makes a payment in respect
of a tender or exchange offer for Common Stock, to the extent that the cash and value
of any other consideration included in the payment per share of Common Stock exceeds
the Last Reported Sale Price of the Common Stock on the Trading Day next succeeding
the last date on which tenders or exchanges may be made pursuant to such tender or
exchange offer (the “Expiration Date”), the Conversion Rate shall be increased based
on the following formula:

	 	 	 	 	 

	CR1 = CR0 x

	 	AC + (SP1 x OS1)
	 	 
	 	OS0 x SP1	 	 

where,

	 	 	 	 	 

	CR0

	 	=
	 	the applicable Conversion Rate in effect immediately prior to the open of business on the Trading Day
next succeeding the Expiration Date;
	 
	CR1

	 	=
	 	the applicable Conversion Rate in effect immediately after the open of business on the Trading Day next
succeeding the Expiration Date;
	 
	AC

	 	=
	 	the aggregate value of all cash and any other consideration (as determined by the Board of Directors) paid
or payable for shares purchased in such tender offer or exchange offer;
	 
	OS0

	 	=
	 	the number of shares of Common Stock outstanding immediately prior to time (the “Expiration Time”)
such tender or exchange offer expires (prior to giving effect to such tender offer or exchange offer);
	 
	OS1

	 	=
	 	the number of shares of Common Stock outstanding immediately after the Expiration Time (after giving
effect to such tender offer or exchange offer); and
	 
	SP1

	 	=
	 	the Last Reported Sale Price of the Common Stock on the Trading Day next succeeding the Expiration
Date.

     The adjustment to the Conversion Rate under this Section 13.07(e) shall
become effective immediately following the close of business on the Trading Day next
succeeding the Expiration Date. If the Company or one of its Subsidiaries is obligated
to purchase Common Stock pursuant to any such tender or exchange offer but is
permanently prevented by applicable law from effecting any such purchase or all such
purchases are rescinded, the new Conversion Rate shall be readjusted to be the
Conversion Rate that would be in effect if such tender or exchange offer had not been
made.

          Section 13.08. When No Adjustment is Required. (a) No adjustment in the Conversion
Rate shall be required unless such adjustment would require an increase or decrease of
at least 1% in the Conversion Rate as last adjusted; provided, however, that any
adjustments which would be required to be made but for this Section 13.08(a) shall be
carried forward and taken into account in any subsequent adjustment and any carry
forward amount shall be paid to the Holder upon conversion regardless of the 1%
threshold. All calculations under this Article 13 shall be made to the nearest cent or
to the nearest 1/10,000th of a share.

     (b) If the application of the foregoing formulas in Section 13.07 would result in
a decrease in the Conversion Rate, no adjustment to the Conversion Rate shall be made
(except on account of share combinations).

     (c) No adjustment to the Conversion Rate shall be made unless as specifically
set forth in Section 13.07 and Section 13.02. Without limiting the foregoing, no
adjustment to the Conversion Rate need be made:

58

 

     (i) upon the issuance of any shares of Common Stock pursuant to any present or
future plan providing for the reinvestment of dividends or interest payable on securities of
the Company and the investment of additional optional amounts in shares of Common Stock
under any plan;

     (ii) upon the issuance of any shares of Common Stock or options or rights to purchase
            shares of Common Stock pursuant to any present or future employee, director or consultant
benefit plan or program or employee stock purchase plan of, or assumed by, the Company or
any of its Subsidiaries;

     (iii) upon the issuance of any shares of Common Stock pursuant to any option, warrant,
right, or exercisable, exchangeable or convertible security not described in clause (ii)
above and outstanding as of the Issue Date;

     (iv) upon the issuance of Rights under the Rights Plan unless, prior to conversion, the
Rights issued under the Rights Plan have separated from the Common Stock;

     (v) for a change in the par value of the Common Stock; or

     (vi) for accrued and unpaid interest (including any Special Interest and Additional
Interest, if applicable).

          Section 13.09. Notice of Adjustment. Whenever the Conversion Rate or conversion privilege is required to be
adjusted pursuant to this Indenture, the Company shall promptly mail to Holders a notice of the
adjustment and file with the Trustee an Officers’ Certificate briefly stating the facts requiring
the adjustment, the adjusted Conversion Rate and the manner of computing it. Failure to mail such
notice or any defect therein shall not affect the validity of any such adjustment. Unless and
until the Trustee shall receive an Officers’ Certificate setting forth an adjustment of the
Conversion Rate, the Trustee may assume without inquiry that the Conversion Rate has not been
adjusted and that the last Conversion Rate of which it has knowledge remains in effect.

          Section 13.10. Notice of Certain Transactions. In the event that there is a dissolution or liquidation of
the Company, the Company shall mail to Holders and file with the Trustee a written notice stating
the proposed effective date. The Company shall mail such notice at least 20 days before such
proposed effective date. Failure to mail such notice or any defect therein shall not affect the
validity of any transaction referred to in this Section 13.10.

          Section 13.11. Effect of Reclassification, Consolidation, Merger or Sale On Conversion Privilege. If any of
the following events occur:

     (a) any recapitalization, reclassification or change of the outstanding shares of Common Stock
(other than changes resulting from a subdivision or combination);

     (b) any consolidation, merger, or combination involving the Company;

59

 

     (c) any sale, conveyance or lease to any third party of all or substantially all of the
property and assets of the Company and its Subsidiaries; or

     (d) any statutory share exchange,

in each case as a result of which holders of Common Stock shall be entitled to receive stock, other
securities or other property or assets (including cash or any combination thereof) (the “Reference
Property”) with respect to or in exchange for such Common Stock, the Holders of the Notes then
Outstanding shall be entitled thereafter to convert those Notes into the kind and amount of shares
of stock, other securities or other property or assets (including cash or any combination thereof)
which they would have owned or been entitled to receive upon such transaction had such notes been
converted into Common Stock immediately prior to such transaction. In the event holders of Common
Stock have the opportunity to elect the form of consideration to be received in such transaction,
the Reference Property shall be deemed to be the weighted average of the types and amounts of
consideration received by the holders of Common Stock that affirmatively make such election. The
Company shall notify the Holders of the weighted average as soon as practicable after such
determination is made. The Company may not become a party to any such transaction unless its terms
are consistent with the preceding. None of the foregoing provisions shall affect the right of a
Holder of Notes to convert its Notes into shares of Common Stock prior to the effective date of
such transaction.

     The above provisions of this Section 13.11 shall similarly apply to successive
recapitalizations, reclassifications, mergers, consolidations, statutory share exchanges,
combinations, sales and conveyances.

     If this Section 13.11 applies to any event or occurrence, Section 13.07 hereof shall not
apply.

          Section 13.12. Trustee’s Disclaimer. (a) The Trustee shall have no duty to determine, or liability in
connection therewith, when an adjustment under this Article 13 should be made, how it should be
made or what such adjustment should be, but may accept as conclusive evidence of that fact or the
correctness of any such adjustment, and shall be protected in conclusively relying upon, an
Officers’ Certificate, including the Officers’ Certificate with respect thereto which the Company
is obligated to file with the Trustee pursuant to Section 13.09. Unless and until the Trustee
receives such Officers’ Certificate delivered pursuant to Section 13.09, the Trustee may assume
without inquiry that no such adjustment has been made and the last Conversion Rate of which the
Trustee has knowledge remains in effect. The Trustee makes no representation as to the validity or
value of any securities or assets issued upon conversion of Notes, and the Trustee shall not be
responsible for the Company’s failure to comply with any provisions of this Article 13.

     (b) The Trustee shall not be under any responsibility to determine the correctness of any
provisions contained in any supplemental indenture executed pursuant to Section 13.11, but may
accept as conclusive evidence of the correctness thereof, and shall be fully protected in
conclusively relying upon, the Officers’ Certificate and Opinion of Counsel, with respect thereto
which the Company are obligated to file with the Trustee pursuant to Section 13.11 and Section
10.01, respectively.

60

 

          Section 13.13. Voluntary Increase; NYSE Compliance. (a) Subject to Section 9.01(e), the Company from time to
time may increase the Conversion Rate, to the extent permitted by law and subject to any applicable
stockholder approval requirements pursuant to the listing standards of The New York Stock Exchange
or such other United States securities exchange on which the Common Stock is traded, by any amount
for any period of at least 20 days, if the Board of Directors determines that such increase shall
be in the Company’s best interests. The Company may (but is not required to) make such increase in
the Conversion Rate (in addition to others provided in this Indenture) as the Board of Directors
deems advisable to avoid or diminish any income tax to holders of Common Stock resulting from a
dividend or distribution of stock, or rights to acquire stock, or similar event; provided, however,
that in no event may the Company increase the Conversion Rate such that it causes the Conversion
Price to be less than the par value of a share of Common Stock. The Company shall provide at least
15 days’ written notice to Holders and the Trustee of any increase under this Section 13.13.

     (b) The Company may not take any voluntary actions that would result in an adjustment to the
Conversion Rate pursuant to Section 13.07 without complying, if applicable, with the stockholder
approval rules of The New York Stock Exchange and any similar rule of any United States securities
exchange on which the Common Stock is listed at the relevant time. In accordance with such listing
standards, this restriction shall apply at any time when the Notes are Outstanding, regardless of
whether the Company then has a class of securities listed on The New York Stock Exchange.

          Section 13.14. Rights Plan. To the extent that the Company has a Rights Plan in effect upon conversion of
the Notes into Common Stock, the Holders shall receive upon conversion of the Notes, the Rights
under the Rights Plan, unless prior to conversion, the Rights have separated from the Common Stock,
in which case, and only in such case, the Conversion Rate shall be adjusted at the time of
separation as if the Company distributed to all or substantially all holders of Common Stock shares
of the Company’s Capital Stock, evidences of indebtedness or other assets or property of ours or
rights, options or warrants to acquire the Company’s Capital Stock or other securities as described
in Section 13.07(c) above, subject to readjustment in the event of the expiration, termination or
redemption of such Rights.

ARTICLE 14

Omitted

ARTICLE 15

Omitted

ARTICLE 16

Repurchase Of Notes Upon a Fundamental Change

          Section 16.01. Repurchase of Notes at Option of the Holder Upon a Fundamental Change. (a) If a Fundamental
Change occurs prior to the Maturity Date, each Holder of a Note shall have the right, at the option
of the Holder, to require the Company to

61

 

repurchase all or any of such Holder’s Notes at the Fundamental Change Repurchase Price, on
the date specified by the Company that is not less than 20 days and not more than 35 days after the
date of the Fundamental Change Company Notice pursuant to Section 16.01(b) (the “Fundamental Change
Repurchase Date”). If the Fundamental Change Repurchase Date is after a Regular Record Date and on
or prior to the corresponding Interest Payment Date, the Company shall pay accrued and unpaid
interest to the Holder of a Note of record at the close of business on such Regular Record Date and
the Fundamental Change Repurchase Price shall be 100% of the principal amount of the Notes to be
repurchased. A Holder may require the Company to repurchase fewer than all of such Holder’s Notes
only if (i) the principal amount of Notes to be repurchased is an integral multiple of $1,000 and
(ii) the portion of such Holder’s Notes not to be repurchased is in a minimum principal amount of
$2,000.

     (b) On or before the 15th day after the Fundamental Change Effective Date, the Company, or, at
the request of the Company, the Trustee, shall mail a written notice by first-class mail of the
occurrence of the Fundamental Change, and of the repurchase right arising therefrom, to the
Trustee, Paying Agent and to each Holder at the address shown in the Note Register of the Note
Registrar (and to beneficial owners as required by applicable law) (the “Fundamental Change Company
Notice”). Simultaneously with providing such Fundamental Change Company Notice, the Company shall
publish a notice containing the information that is required in the Fundamental Change Company
Notice in a newspaper of general circulation in The City of New York or publish information on a
website of the Company or through such other public medium the Company may use at that time. The
Fundamental Change Company Notice shall set forth the Holder’s right to require the Company to
purchase the Notes and specify:

     (i) the events causing such Fundamental Change;

     (ii) the date of such Fundamental Change;

     (iii) the last date by which the Fundamental Repurchase Notice must be delivered to
elect the repurchase option pursuant to this Section 16.01;

     (iv) the Fundamental Change Repurchase Price;

     (v) the Fundamental Change Repurchase Date;

     (vi) the name and address of each Paying Agent and Conversion Agent, if applicable;

     (vii) that the Notes with respect to which a Fundamental Change Repurchase Notice has
been delivered by a Holder may be converted only if the Holder withdraws the Fundamental
Change Repurchase Notice in accordance with the terms of this Indenture; and

     (viii) the procedures that the Holder must follow to require the Company to repurchase
its Notes under this Section 16.01.

     At the Company’s written request, the Trustee shall give such Fundamental Change Company
Notice in the Company’s name and at the Company’s expense; provided that, unless

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otherwise agreed by the Trustee, the Company makes such request at least five Business Days
prior to the date by which such Fundamental Change Company Notice must be given to the Holders in
accordance with this Section 16.01; provided, further, that the text of such Fundamental Change
Company Notice shall be prepared by the Company. If any of the Notes is in the form of a Global
Note, then the Company shall modify such notice to the extent necessary to accord with the
Applicable Procedures relating to the purchase of Global Notes.

     No failure of the Company to give the foregoing notices or defect therein shall limit any
Holder’s right to exercise its right to cause the Company to repurchase such Holder’s Notes
pursuant to this Section 16.01.

     (c) Repurchases of Notes under this Article 16 shall be made upon delivery to the Paying Agent
by the Holder of a duly completed notice (the “Fundamental Change Repurchase Notice”) in the form
set forth in the Form of Fundamental Change Repurchase Notice in Attachment 2 to the Form of Note
attached hereto as Exhibit A, if the Notes are Physical Notes, or in compliance with the
Depositary’s procedures for surrendering interests in Global Notes, if the Notes are Global Notes,
in each case before the close of business on the Business Day immediately preceding the Fundamental
Change Repurchase Date.

Each Fundamental Change Repurchase Notice shall state:

     (A) in the case of Physical Notes, the certificate numbers of the Notes to be
delivered for repurchase;

     (B) the portion of the principal amount of the Notes to be repurchased, which
must be $1,000 or an integral multiple thereof (provided that any portion of a
Holder’s Note not to be repurchased is in the minimum principal amount of $2,000);
and

     (C) that the Notes are to be repurchased by the Company pursuant to the
applicable provisions of the Notes and this Indenture

provided, however, that if the Notes are Global Notes, the Repurchase Notice must comply with
appropriate Depositary procedures..

     Notwithstanding anything herein to the contrary, any Holder delivering to the Paying Agent the
Fundamental Change Repurchase Notice contemplated by this Section 16.01 shall have the right to
withdraw, in whole or in part, such Fundamental Change Repurchase Notice at any time prior to the
close of business on the Business Day immediately preceding the Fundamental Change Repurchase Date
by delivery of a written notice of withdrawal to the Paying Agent in accordance with Section 16.02.

     The Paying Agent shall promptly notify the Company of the receipt by it of any Fundamental
Change Repurchase Notice or written notice of withdrawal thereof.

          Section 16.02. Withdrawal of Fundamental Change Repurchase Notice.

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     (a) A Fundamental Change Repurchase Notice may be withdrawn (in whole or in part) by means of
a written notice of withdrawal delivered to the Corporate Trust Office of the Paying Agent in
accordance with this Section 16.02 at any time prior to the close of business on the Business Day
immediately preceding the Fundamental Change Repurchase Date specifying:

          (i) the principal amount of the Notes with respect to which such notice of withdrawal
is being submitted;

          (ii) if Physical Notes have been issued, the certificate number of the Note in respect
of which such notice of withdrawal is being submitted; and

          (iii) the principal amount, if any, of such Note that remains subject to the original
Fundamental Change Repurchase Notice, which portion must be in principal amounts of $1,000
or an integral multiple of $1,000 (provided that any portion of a Holder’s Note not to be
repurchased is in the minimum principal amount of $2,000);

provided, however, that if the Notes are Global Notes, the notice must comply with appropriate
procedures of the Depositary.

          Section 16.03. Deposit of Fundamental Change Repurchase Price. (a) The Company shall deposit with the
Trustee (or other Paying Agent appointed by the Company, or if the Company is acting as its own
Paying Agent, set aside, segregate and hold in trust as provided in Section 4.06(b)) on or prior to
11:00 a.m., New York City time, on the Fundamental Change Repurchase Date, as the case may be, an
amount of money sufficient to repurchase all of the Notes to be repurchased at the appropriate
Fundamental Change Repurchase Price. Subject to receipt of funds and/or Notes by the Trustee (or
other Paying Agent appointed by the Company), payment for Notes surrendered for repurchase will be
made on the later of (i) the Fundamental Change Repurchase Date with respect to such Note (provided
the Holder has satisfied the conditions in Section 16.01) and (ii) the time of book-entry transfer
or the delivery of such Note to the Trustee (or other Paying Agent appointed by the Company) by the
Holder thereof in the manner required by Section 16.01, by mailing checks for the amount payable to
the Holders of such Notes entitled thereto as they shall appear in the Note Register; provided,
however, that payments to the Depositary shall be made by wire transfer of immediately available
funds to the account of the Depositary or its nominee.

     (b) If by 11:00 a.m. New York City time, on the Fundamental Change Repurchase Date the Trustee
(or other Paying Agent appointed by the Company) holds money sufficient to make payment on all the
Notes or portions thereof that are to be repurchased on such Fundamental Change Repurchase Date
then (i) such Notes will cease to be Outstanding, (ii) interest will cease to accrue on such Notes
(whether or not book-entry transfer of the Notes has been made or the Notes have been delivered to
the Trustee or Paying Agent) and (iii) all other rights of the Holders of such Notes will terminate
(other than the right to receive the Fundamental Change Repurchase Price).

          Section 16.04. Repayment to the Company. To the extent that the aggregate amount of cash deposited by the
Company pursuant to Section 16.03 exceeds the aggregate Fundamental Change Repurchase Price of the
Notes or portions thereof that the

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Company is obligated to repurchase pursuant to this Article 16, then promptly after the
relevant Fundamental Change Repurchase Date the Paying Agent shall return any such excess cash to
the Company.

          Section 16.05. Notes Repurchased In Part. Upon surrender of any Note that is to be repurchased only in part
in accordance with Section 16.01, and promptly after the Fundamental Change Repurchase Date, the
Company shall execute and the Trustee shall authenticate and deliver to the Holder of such Note,
without service charge, a new Note or Notes, of such authorized denomination or denominations as
may be requested by such Holder (which must be equal to $2,000 principal amount or greater integral
multiples of $1,000), in aggregate principal amount equal to, and in exchange for, the portion of
the principal amount of the Note so surrendered that is not repurchased.

          Section 16.06. Covenant to Comply with Applicable Laws Upon Repurchase of Notes. In connection with any
repurchase offer pursuant to this Article 16, the Company shall, if required:

     (a) comply with the provisions of Rule 13e-4, Rule 14e-1 and any other tender offer rules
under the Exchange Act;

     (b) file a Schedule TO or any successor or similar schedule; and

     (c) otherwise comply with all federal and state securities laws in connection with any offer
by the Company to repurchase the Notes;

in each case, so as to permit the rights and obligations under this Article 16 to be exercised in
the time and in the manner specified in this Article 16.

ARTICLE 17

Meeting Of Holders Of Notes

          Section 17.01. Purposes For Which Meetings May Be Called. A meeting of Holders of Notes may be called at any
time and from time to time pursuant to this Article 17 to make, give or take any request, demand,
authorization, direction, notice, consent, waiver or other action provided by this Indenture to be
made, given or taken by Holders of Notes.

     Notwithstanding anything contained in this Article 17, the Trustee may, during the pendency of
a Default or an Event of Default, call a meeting of Holders of Notes in accordance with its
standard practices.

          Section 17.02. Call Notice and Place of Meetings. (a) The Trustee may at any time call a meeting of Holders
of Notes for any purpose specified in Section 17.01 hereof, to be held at such time and at such
place in The City of New York. Notice of every meeting of Holders of Notes, setting forth the time
and the place of such meeting, in general terms the action proposed to be taken at such meeting and
the percentage of the principal amount of the then-Outstanding Notes which shall constitute a
quorum at such meeting, shall be given, in the

65

 

manner provided in the Indenture, not less than 21 nor more than 180 days prior to the date
fixed for the meeting.

     (b) In case at any time the Company, pursuant to a resolution of the Board of Directors, or
the Holders of at least 10% in principal amount of the Notes then Outstanding shall have requested
the Trustee in writing to call a meeting of the Holders of Notes for any purpose specified in
Section 17.01 hereof, by written request setting forth in reasonable detail the action proposed to
be taken at the meeting, and the Trustee shall not have made the first publication of the notice of
such meeting within 21 days after receipt of such request or shall not thereafter proceed to cause
the meeting to be held as provided herein, then the Company or the Holders of Notes in the amount
specified, as the case may be, may determine the time and the place in The City of New York for
such meeting and may call such meeting for such purposes by giving notice thereof as provided in
Section 17.02(a).

          Section 17.03. Persons Entitled to Vote at Meetings. To be entitled to vote at any meeting of Holders of
Notes, a Person shall be (a) a Holder of one or more Outstanding Notes or (b) a Person appointed by
an instrument in writing as proxy for a Holder or Holders of one or more Outstanding Notes by such
Holder or Holders. The only Persons who shall be entitled to be present or to speak at any meeting
of Holders shall be the Persons entitled to vote at such meeting and their counsel, any
representatives of the Trustee and its counsel and any representatives of the Company and its
counsel.

          Section 17.04. Quorum; Action. The Persons entitled to vote a majority in principal amount of the
then-Outstanding Notes shall constitute a quorum. In the absence of a quorum within 30 minutes of
the time appointed for any such meeting, the meeting shall, if convened at the request of Holders
of Notes, be dissolved. In any other case, the meeting may be adjourned for a period of not less
than ten days as determined by the chairman of the meeting prior to the adjournment of such
meeting. In the absence of a quorum at any such adjourned meeting, such adjourned meeting may be
further adjourned for a period of not less than ten days as determined by the chairman of the
meeting prior to the adjournment of such adjourned meeting. Notice of the reconvening of any
adjourned meeting shall be given as provided in Section 17.02(a) hereof, except that such notice
need be given only once and not less than five days prior to the date on which the meeting is
scheduled to be reconvened.

     At a meeting or an adjourned meeting duly reconvened and at which a quorum is present as
aforesaid, any resolution and all matters (except as limited by the third paragraph of Section 9.02
hereof) shall be effectively passed and decided if passed or decided by the Persons entitled to
vote not less than a majority in principal amount of Notes then Outstanding represented and voting
at such meeting.

     Any resolution passed or decisions taken at any meeting of Holders of Notes duly held in
accordance with this Section 17.04 shall be binding on all the Holders of Notes, whether or not
present or represented at the meeting.

          Section 17.05. Determination of Voting Rights; Conduct and Adjournment of Meetings. (a) Notwithstanding any
other provisions of this Indenture, the Trustee may make such reasonable regulations as it may deem
advisable for any meeting of Holders of

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Notes in regard to proof of the holding of Notes and of the appointment of proxies and in
regard to the appointment and duties of inspectors of votes, the submission and examination of
proxies, certificates and other evidence of the right to vote, and such other matters concerning
the conduct of the meeting as it shall deem appropriate.

     (b) The Trustee shall, by an instrument in writing, appoint a temporary chairman (which may be
the Trustee) of the meeting, unless the meeting shall have been called by the Company or by Holders
of Notes as provided in Section 17.02 hereof, in which case the Company or the Holders of Notes
calling the meeting, as the case may be, shall in like manner appoint a temporary chairman. A
permanent chairman and a permanent secretary of the meeting shall be elected by vote of the Persons
entitled to vote a majority in principal amount of the Outstanding Notes represented at the
meeting.

     (c) At any meeting, each Holder of a Note or proxy shall be entitled to one vote for each
$1,000 principal amount of Notes held or represented by him; provided, however, that no vote shall
be cast or counted at any meeting in respect of any Note challenged as not Outstanding and ruled by
the chairman of the meeting to be not Outstanding. The chairman of the meeting shall have no right
to vote, except as a Holder of a Note or proxy.

     (d) Any meeting of Holders of Notes duly called pursuant to Section 17.02 hereof at which a
quorum is present may be adjourned from time to time by Persons entitled to vote a majority in
principal amount of the then-Outstanding Notes represented at the meeting, and the meeting may be
held as so adjourned without further notice.

          Section 17.06. Counting Votes and Recording Action of Meetings. The vote upon any resolution submitted to
any meeting of Holders of Notes shall be by written ballots on which shall be subscribed the
signatures of the Holders of Notes or of their representatives by proxy and the principal amounts
and serial numbers of the Outstanding Notes held or represented by them. The permanent chairman of
the meeting shall appoint two inspectors of votes who shall count all votes cast at the meeting for
or against any resolution and who shall make and file with the secretary of the meeting their
verified written reports in duplicate of all votes cast at the meeting. A record, at least in
duplicate, of the proceedings of each meeting of Holders of Notes shall be prepared by the
secretary of the meeting and there shall be attached to said record the original reports of the
inspectors of votes on any vote by ballot taken thereat and affidavits by one or more Persons
having knowledge of the facts setting forth a copy of the notice of the meeting and showing that
said notice was given as provided in Section 17.02 hereof and, if applicable, Section 17.04 hereof.
Each copy shall be signed and verified by the affidavits of the permanent chairman and secretary
of the meeting and one such copy shall be delivered to the Company and another to the Trustee to be
preserved by the Trustee, the latter to have attached thereto the ballots voted at the meeting.
Any record so signed and verified shall be conclusive evidence of the matters therein stated.

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ARTICLE 18

Miscellaneous Provisions

          Section 18.01. Provisions Binding on Company’s Successors. All the covenants, stipulations, promises and
agreements of the Company contained in this Indenture shall bind its successors and assigns whether
so expressed or not.

          Section 18.02. Official Acts by Successor. Any act or proceeding by any provision of this Indenture
authorized or required to be done or performed by any board, committee or officer of the Company
shall and may be done and performed with like force and effect by the like board, committee or
officer of any corporation or other entity that shall at the time be the lawful sole successor of
the Company.

          Section 18.03. Notices. Except as otherwise expressly provided herein, any notice, request or demand that by
any provision of this Indenture is required or permitted to be given, made or served by the Trustee
or by the Holders or by any other Person pursuant to this Indenture to or on the Company may be
given or served by being deposited in first-class mail, postage prepaid, addressed (until another
address is filed in writing by the Company with the Trustee), as follows: The Greenbrier Companies,
Inc., One Centerpointe Drive, Suite 200, Lake Oswego, Oregon 97035. Any notice, election, request
or demand by the Company or any Holder or by any other Person pursuant to this Indenture to or upon
the Trustee shall be deemed to have been sufficiently given or made, for all purposes, if given or
made in writing at the Corporate Trust Office of the Trustee. Except as otherwise expressly
provided herein, any notice or communication to a Holder of a Note may be given or served by being
deposited in first-class mail, postage prepaid, or by electronic means, addressed at the Holder’s
address as it appears in the Note Register.

          Section 18.04. Governing Law. THIS INDENTURE AND EACH NOTE, AND ANY CLAIM, CONTROVERSY OR DISPUTE ARISING
UNDER OR RELATED TO THIS INDENTURE OR ANY NOTE, SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE
WITH THE LAWS OF NEW YORK, WITHOUT REGARD TO CONFLICTS OF LAWS PROVISIONS THEREOF TO THE EXTENT
THAT SUCH PROVISIONS WOULD RESULT IN THE SELECTION OF THE LAW OF A DIFFERENT JURISDICTION AS THE
GOVERNING LAW OF THIS INDENTURE AND THE NOTES.

          Section 18.05. Evidence of Compliance with Conditions Precedent; Certificates and Opinions of Counsel to
Trustee.

     Upon any application or demand by the Company to the Trustee to take any action under any of
the provisions of this Indenture, the Company shall furnish to the Trustee an Officers’ Certificate
and an Opinion of Counsel stating that all conditions precedent (including any covenants compliance
with which constitutes a condition precedent) which relate to such action, if any, provided for in
this Indenture have been complied with; provided that no such Opinion of Counsel shall be required
in connection with the issuance of Notes on the Issue Date.

68

 

     Each Officers’ Certificate and Opinion of Counsel provided for by or on behalf of the Company
in this Indenture and delivered to the Trustee with respect to compliance with a condition or
covenant provided for in this Indenture (other than the Officers’ Certificates provided for in
Section 4.04) shall include (a) a statement that the Person making such certification or opinion
has read such covenant or condition; (b) a brief statement as to the nature and scope of the
examination or investigation upon which the statement contained in such certificate or opinion is
based; (c) a statement that, in the judgment of such person, he or she has made such examination or
investigation as is necessary to enable him or her to express an informed judgment as to whether or
not such covenant or condition has been complied with; and (d) a statement as to whether or not, in
the judgment of such Person, such covenant or condition has been complied with.

     Notwithstanding anything to the contrary in this Section 18.05, if any provision in this
Indenture specifically provides that the Trustee shall or may receive an Opinion of Counsel in
connection with any action to be taken by the Trustee or the Company hereunder, the Trustee shall
be entitled to, or entitled to request, such Opinion of Counsel.

          Section 18.06. Legal Holidays. In any case where any Interest Payment Date, Fundamental Change Repurchase
Date, Conversion Date or Maturity Date is not a Business Day, then any action to be taken on such
date need not be taken on such date, but may be taken on the next succeeding Business Day with the
same force and effect as if taken on such date, and no interest shall accrue for the period from
and after such date.

          Section 18.07. No Security Interest Created. Nothing in this Indenture or in the Notes, expressed or
implied, shall be construed to constitute a security interest under the Uniform Commercial Code or
similar legislation, as now or hereafter enacted and in effect, in any jurisdiction.

          Section 18.08. Benefits of Indenture. Nothing in this Indenture or in the Notes, expressed or implied, shall
give to any Person, other than the parties hereto, any Paying Agent, any Conversion Agent, any
authenticating agent, any Note Registrar and their successors hereunder and the Holders of the
Notes, any benefit or any legal or equitable right, remedy or claim under this Indenture.

          Section 18.09. Table of Contents, Headings, Etc. The table of contents and the titles and headings of the
articles and sections of this Indenture have been inserted for convenience of reference only, are
not to be considered a part hereof, and shall in no way modify or restrict any of the terms or
provisions hereof.

          Section 18.10. Execution in Counterparts. This Indenture may be executed in any number of counterparts, each
of which shall be an original, but such counterparts shall together constitute but one and the same
instrument. The exchange of copies of this Indenture and of signature pages by facsimile or PDF
transmission shall constitute effective execution and delivery of this Indenture as to the parties
hereto and may be used in lieu of the original Indenture for all purposes. Signatures of the
parties hereto transmitted by facsimile or PDF shall be deemed to be their original signatures for
all purposes.

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          Section 18.11. Severability. In the event any provision of this Indenture or in the Notes shall be invalid,
illegal or unenforceable, then (to the extent permitted by law) the validity, legality or
enforceability of the remaining provisions shall not in any way be affected or impaired.

          Section 18.12. Waiver of Jury Trial. EACH OF THE COMPANY AND THE TRUSTEE HEREBY IRREVOCABLY WAIVES, TO THE
FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL
PROCEEDING ARISING OUT OF OR RELATING TO THIS INDENTURE, THE NOTES OR THE TRANSACTION CONTEMPLATED
HEREBY.

          Section 18.13. Consent to Jurisdiction. (a) The Company hereby irrevocably and unconditionally submits, for
itself and its property, to the nonexclusive jurisdiction of any New York State court or federal
court of the United States sitting in the State and City of New York, County and Borough of
Manhattan, and any appellate court from any thereof, in any action or proceeding arising out of or
relating to this Indenture or the Notes, or for recognition or enforcement of any judgment, and
each of the parties hereto hereby irrevocably and unconditionally agrees that all claims in respect
of any such action or proceeding may be heard and determined in such state court sitting in the
State and City of New York, County and Borough of Manhattan or, to the extent permitted by law, in
such federal court sitting in the State and City of New York, County and Borough of Manhattan.
Each of the parties hereto agrees that a final judgment in any such action or proceeding shall be
conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other
manner provided by law.

     (b) The Company hereby irrevocably and unconditionally waives, to the fullest extent it may
legally and effectively do so, any objection which it may now or hereafter have to the laying of
venue of any suit, action or proceeding arising out of or relating to this Indenture or the Notes
in any New York State or federal court. Each of the parties hereto hereby irrevocably waives, to
the fullest extent permitted by law, the defense of an inconvenient forum to the maintenance of
such action or proceeding in any such court.

          Section 18.14. Force Majeure. In no event shall the Trustee be responsible or liable for any failure or
delay in the performance of its obligations hereunder arising out of or caused by, directly or
indirectly, forces beyond its control, including, without limitation, strikes, work stoppages,
accidents, acts of war or terrorism, civil or military disturbances, nuclear or natural
catastrophes or acts of God, and interruptions, loss or malfunctions of utilities, communications
or computer (software and hardware) services; it being understood that the Trustee shall use
reasonable efforts that are consistent with accepted practices in the banking industry to resume
performance as soon as practicable under the circumstances.

          Section 18.15. Calculations. Except as explicitly stated herein, the Company shall be responsible for making
all calculations required pursuant to this Indenture and the Notes, including, without limitation,
calculations with respect to determinations of the Conversion Price and Conversion Rate applicable
to the Notes. The Company shall make all such calculations in good faith and, absent manifest
error, the Company’s calculations shall be binding on the Trustee and the Holders. The Company
shall provide a written schedule of such

70

 

calculations to the Trustee, and the Trustee shall be entitled to conclusively rely upon the
accuracy of the Company’s calculations without responsibility for independent verification thereof.
The Trustee shall forward a copy of such calculations to any Holder upon such Holder’s written
request.

          Section 18.16. U.S.A. Patriot Act. The parties hereto acknowledge that in accordance with Section 326 of the
U.S.A. Patriot Act, the Trustee, like all financial institutions and in order to help fight the
funding of terrorism and money laundering, is required to obtain, verify, and record information
that identifies each person or legal entity that establishes a relationship or opens an account
with the Trustee. The parties to this Indenture agree that they will provide the Trustee with such
information as it may request in order for the Trustee to satisfy the requirements of the U.S.A.
Patriot Act.

          Section 18.17. No Personal Liability of Stockholders, Employees, Officers or Directors. None of the
Company’s direct or indirect stockholders, employees, officers or directors, as such, past, present
or future, shall have any personal liability for the obligations of the Company under the Indenture
or the Notes solely by reason of his or its status as such stockholder, employee, officer or
director.

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     IN WITNESS WHEREOF, the parties hereto have caused this Indenture to be duly executed as of
the date first written above.

	 	 	 	 	 
	 	THE GREENBRIER COMPANIES, INC., as Issuer

 	 
	 	By:  	/s/ Mark J. Rittenbaum
 	 
	 	 	Name:  	Mark J. Rittenbaum 	 
	 	 	Title:  	Executive Vice President and Chief
Financial Officer 	 
	 
	 	U.S. BANK NATIONAL ASSOCIATION, as Trustee

 	 
	 	By:  	/s/ Linda A. McConkey
 	 
	 	 	Name:  	Linda A. McConkey 	 
	 	 	Title:  	Vice President 	 
	 

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EXHIBIT A

[FORM OF FACE OF NOTE]

[INCLUDE IF A GLOBAL NOTE]

     [UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST
COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER,
EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH
OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE
& CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY
TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL
INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]

[INCLUDE IF A RESTRICTED SECURITY]

     THE SECURITY (OR ITS PREDECESSOR) EVIDENCED HEREBY WAS ORIGINALLY ISSUED IN A TRANSACTION
EXEMPT FROM REGISTRATION UNDER SECTION 5 OF THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED
(THE “SECURITIES ACT”), AND THE SECURITY EVIDENCED HEREBY MAY NOT BE OFFERED, SOLD OR OTHERWISE
TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION OR AN APPLICABLE EXEMPTION THEREFROM. EACH
PURCHASER OF THE SECURITY EVIDENCED HEREBY IS HEREBY NOTIFIED THAT THE SELLER MAY BE RELYING ON THE
EXEMPTION FROM THE PROVISIONS OF SECTION 5 OF THE SECURITIES ACT PROVIDED BY RULE 144A THEREUNDER.
THE HOLDER OF THE SECURITY EVIDENCED HEREBY AGREES FOR THE BENEFIT OF THE COMPANY THAT (A) SUCH
SECURITY, MAY BE RESOLD, PLEDGED OR OTHERWISE TRANSFERRED, ONLY (1)(a) INSIDE THE UNITED STATES TO
A PERSON WHO THE SELLER REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER (AS DEFINED IN RULE
144A UNDER THE SECURITIES ACT) PURCHASING FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED
INSTITUTIONAL BUYER IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144A UNDER THE SECURITIES
ACT, (b) OUTSIDE THE UNITED STATES TO A NON-U.S. PERSON IN A TRANSACTION MEETING THE REQUIREMENTS
OF RULE 903 OR RULE 904 OF REGULATION S UNDER THE SECURITIES ACT, (c) PURSUANT TO AN EXEMPTION FROM
REGISTRATION UNDER THE SECURITIES ACT PROVIDED BY RULE 144 THEREUNDER (IF APPLICABLE) OR (d) IN
ACCORDANCE WITH ANOTHER EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT (AND
BASED UPON AN OPINION OF COUNSEL ACCEPTABLE TO THE COMPANY IF THE COMPANY SO REQUESTS), (2) TO THE
COMPANY OR (3) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT AND, IN EACH CASE, IN ACCORDANCE
WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED

 

 

STATES OR ANY OTHER APPLICABLE JURISDICTION AND (B) THE HOLDER WILL, AND EACH SUBSEQUENT
HOLDER IS REQUIRED TO, NOTIFY ANY PURCHASER OF THE SECURITY EVIDENCED HEREBY OF THE RESALE
RESTRICTIONS SET FORTH IN CLAUSE (A) ABOVE. NO REPRESENTATION CAN BE MADE AS TO THE AVAILABILITY OF
THE EXEMPTION PROVIDED BY RULE 144 FOR RESALE OF THE SECURITY EVIDENCED HEREBY.

2

 

THE GREENBRIER COMPANIES, INC.

3.50% Convertible Senior Note due 2018

No.                     

CUSIP No. 393657 AG6

ISIN No. US393657AG64

     The Greenbrier Companies, Inc., a corporation duly organized and validly existing under the
laws of the state of Oregon (herein called the “Company,” which term includes any successor
corporation or other entity under the Indenture referred to on the reverse hereof), for value
received hereby promises to pay to CEDE & CO., or registered assigns, the principal sum of $[          
] (which amount may from time to time be increased or decreased to such other principal
amounts as permitted by the Indenture by adjustments made on the records of the Trustee or the
Custodian of the Depositary as set forth in Schedule A hereto, in accordance with the rules and
procedures of the Depositary) on April 1, 2018, and interest thereon as set forth below.

This Note shall bear interest at the rate of 3.50% per year from April 5, 2011, or from the most
recent date to which interest had been paid or provided for to, but excluding, the next scheduled
Interest Payment Date until April 1, 2018 or the Fundamental Change Repurchase Date, as applicable.
Interest is payable semiannually in arrears on each April 1 and October1 (or if any such day is
not a Business Day, the immediately following Business Day), commencing October 1, 2011, to Holders
of record at the close of business on the preceding March 15 and September 15 (whether or not such
day is a Business Day), respectively. Interest shall include Additional Interest and Special
Interest, in each case if applicable in accordance with the terms of the Indenture.

     Interest not paid when due and any interest on principal or interest not paid when due will be
paid to Holders on a special record date, which will be the 15th day preceding the day fixed by the
Company for the payment of such interest, whether or not such day is a Business Day. At least 15
days before a special record date, the Company will send to each Holder and to the Trustee a notice
that sets forth the special record date, the payment date and the amount of interest to be paid.

     Payment of the principal of, and accrued and unpaid interest on, this Note shall be made at
the office or agency of the Company maintained for that purpose in such lawful money of the United
States of America as at the time of payment shall be legal tender for the payment of public and
private debts; provided that interest on any Physical Notes shall be paid (i) to the Person
entitled thereto having an aggregate principal amount of $2,000,000 or less, by check mailed to
such Person at the address set forth in the Note Register and (ii) to the Person entitled thereto
having an aggregate principal amount of more than $2,000,000, either by check mailed to such Person
or, upon application by such Person to the Note Registrar not later than the relevant Regular
Record Date, by wire transfer in immediately available funds to such Person’s account within the
United States, which application and wire transfer instructions shall remain in effect until such
Person notifies, in writing, the Note Registrar to the contrary.

 

 

     Reference is made to the further provisions of this Note set forth on the reverse hereof,
including, without limitation, provisions giving the Holder of this Note the right to convert this
Note into shares of Common Stock (together with cash in lieu of fractional shares) on the terms and
subject to the limitations set forth in the Indenture. Such further provisions shall for all
purposes have the same effect as though fully set forth at this place.

     THIS NOTE AND ANY CLAIM, CONTROVERSY OR DISPUTE ARISING UNDER OR RELATED TO THIS NOTE SHALL BE
GOVERNED BY AND BE CONSTRUED IN ACCORDANCE WITH THE LAWS OF NEW YORK, WITHOUT REGARD TO CONFLICTS
OF LAWS PROVISIONS THEREOF TO THE EXTENT THAT SUCH PROVISIONS WOULD RESULT IN THE SELECTION OF THE
LAW OF A DIFFERENT JURISDICTION AS THE GOVERNING LAW OF THIS NOTE.

     This Note shall not be valid or become obligatory for any purpose until the certificate of
authentication hereon shall have been manually signed by the Trustee or a duly authorized
authenticating agent under the Indenture.

[Remainder of page intentionally left blank]

2

 

     IN WITNESS WHEREOF, the Company has caused this Note to be duly executed.

	 	 	 	 	 
	 	THE GREENBRIER COMPANIES, INC.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

Dated:

	 	 	 	 	 
	TRUSTEE’S CERTIFICATE OF AUTHENTICATION

U.S. BANK NATIONAL ASSOCIATION

as Trustee, certifies that this is one of the Notes

described in the within-named Indenture.

 	 	 
	By:  	 	 	 
	 	Authorized Signatory 	 	 
	 	 	 	 

3

 

	 	 	 	 	 

[FORM OF REVERSE OF NOTE]

THE GREENBRIER COMPANIES, INC.

3.50% Convertible Senior Note due 2018

     This Note is one of a duly authorized issue of the Notes of the Company, designated as its
3.50% Convertible Senior Notes due 2018 (herein called the “Notes”), initially limited to the
aggregate principal amount of $230,000,000, all issued or to be issued under and pursuant to an
Indenture dated as of April 5, 2011 (herein called the “Indenture”), between the Company and U.S.
Bank National Association (herein called the “Trustee”), to which Indenture and all indentures
supplemental thereto reference is hereby made for a description of the rights, limitations of
rights, obligations, duties and immunities thereunder of the Trustee, the Company and the Holders
of the Notes. Additional Notes may be issued in an unlimited aggregate principal amount, subject
to certain conditions specified in the Indenture.

     In case an Event of Default, as defined in the Indenture, shall have occurred and be
continuing, the principal of and accrued and unpaid interest, if any, on all Notes may be declared,
by either the Trustee or Holders of not less than 25% in aggregate principal amount of Notes then
outstanding, and upon said declaration shall become, due and payable, in the manner, with the
effect and subject to the conditions and certain exceptions set forth in the Indenture.

     Subject to the terms and conditions of the Indenture, the Company will make all payments and
deliveries in respect of the Fundamental Change Repurchase Price and the principal amount on the
Maturity Date, as the case may be, to the Holder who surrenders a Note to a Paying Agent to collect
such payments in respect of the Note. The Company will pay cash amounts in money of the United
States that at the time of payment is legal tender for payment of public and private debts.

     The Indenture contains provisions permitting the Company and the Trustee in certain
circumstances, without the consent of the Holders of the Notes, and in other circumstances, with
the consent of the Holders of not less than a majority in aggregate principal amount of the Notes
at the time outstanding, evidenced as in the Indenture provided, to execute supplemental indentures
modifying the terms of the Indenture and the Notes as described therein. It is also provided in
the Indenture that, subject to certain exceptions, the Holders of a majority in aggregate principal
amount of the Notes at the time outstanding may on behalf of the Holders of all of the Notes waive
any past Default or Event of Default under the Indenture and its consequences.

     No reference herein to the Indenture and no provision of this Note or of the Indenture shall
alter or impair the obligation of the Company, which is absolute and unconditional, to pay the
principal of (including the Fundamental Change Repurchase Price, if applicable), and accrued and
unpaid interest on, this Note at the place, at the respective times, at the rate and in the lawful
money herein prescribed or to satisfy its obligation to convert the Notes.

     The Notes are issuable in registered form without coupons in denominations of $2,000 principal
amount and greater integral multiples of $1,000. At the office or agency of the Company referred
to on the face hereof, and in the manner and subject to the limitations

 

 

provided in the Indenture, Notes may be exchanged for a like aggregate principal amount of
Notes of other authorized denominations, without payment of any service charge but, if required by
the Company or Trustee, with payment of a sum sufficient to cover any tax, assessments or other
governmental charges that may be imposed in connection therewith as a result of the name of the
Holders of the new Notes issued upon such exchange of Notes being different from the name of the
Holder of the old Notes surrendered for such exchange.

     The Notes are not subject to redemption at the option of the Company and there will be no
sinking fund.

     Upon the occurrence of a Fundamental Change, each Holder shall have the right, at such
Holder’s option, to require the Company to repurchase for cash all of such Holder’s Notes or any
portion thereof on the Fundamental Change Repurchase Date at a price equal to the Fundamental
Change Repurchase Price. However, a Holder may only require the Company to repurchase fewer than
all of such Holder’s Notes if (i) the principal amount of Notes to be repurchased is an integral
multiple of $1,000 and (ii) the portion of such Holder’s Notes not to be repurchased is in a
minimum principal amount of $2,000.

     Subject to the provisions of the Indenture, during certain periods and upon the occurrence of
certain conditions specified in the Indenture, the Holder hereof has the right, at its option,
prior to the close of business on the Business Day immediately preceding the Maturity Date, to
convert any Notes or portion thereof, into shares of Common Stock (together with cash in lieu of
fractional shares) at a Conversion Rate specified in the Indenture, as adjusted from time to time
as provided in the Indenture; provided that a Holder may only convert fewer than all of such
Holder’s Notes if (i) the principal amount of Notes to be converted is an integral multiple of
$1,000 and (ii) the portion of such Holder’s Notes not to be converted is in a minimum principal
amount of $2,000.

     Terms used in this Note and defined in the Indenture are used herein as therein defined.

ABBREVIATIONS

     The following abbreviations, when used in the inscription of the face of this Note, shall be
construed as though they were written out in full according to applicable laws or regulations:

TEN COM = as tenants in common

UNIF GIFT MIN ACT = Uniform Gifts to Minors Act

CUST = Custodian

TEN ENT = as tenants by the entireties

JT TEN = joint tenants with right of survivorship and not as tenants in common

     Additional abbreviations may also be used though not in the above list.

2

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