Document:

Amended and Restated Credit Agreement

    Annex
      I to First Amendment to Credit Agreement

     

    
      

      

    

    
      PUBLISHED
        CUSIP NUMBER: 17187MAA8

    

     

    CREDIT
      AGREEMENT

    

    Dated
      as
      of February 16, 2005

    

    as
      Amended and Restated as of August 31, 2005

    

    among

    

    CINCINNATI
      BELL INC.,

    as
      the
      Borrower,

    

    Certain
      Subsidiaries of the Borrower

    from
      time
      to time party hereto,

    as
      Guarantors,

    

    BANK
      OF AMERICA, N.A.,

    as
      Administrative Agent and an L/C Issuer,

    

    PNC
      BANK, NATIONAL ASSOCIATION

    as
      Swingline Lender and an L/C Issuer,

    

    and

    

    The
      Other
      Lenders party hereto

    

     

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    TABLE
      OF
      CONTENTS

    

    
      	
              Section

            	 	
              Page

            
	
              ARTICLE
                I 

            	
              DEFINITIONS
                AND ACCOUNTING TERMS

            	
              1

            
	
              1.01

            	
              Defined
                Terms.

            	
              1

            
	
              1.02

            	
              Other
                Interpretive Provisions.

            	
              36

            
	
              1.03

            	
              Accounting
                Terms.

            	
              37

            
	
              1.04

            	
              Rounding.

            	
              38

            
	
              1.05

            	
              Times
                of Day.

            	
              38

            
	
              1.06

            	
              Letter
                of Credit Amounts.

            	
              38

            
	
              ARTICLE
                II 

            	
              THE
                COMMITMENTS AND CREDIT EXTENSIONS

            	
              38

            
	
              2.01

            	
              Committed
                Loans.

            	
              38

            
	
              2.02

            	
              Borrowings,
                Conversions and Continuations of Committed Loans.

            	
              39

            
	
              2.03

            	
              Letters
                of Credit.

            	
              41

            
	
              2.04

            	
              Swingline
                Loans

            	
              49

            
	
              2.05

            	
              Prepayments.

            	
              52

            
	
              2.06

            	
              Termination
                or Reduction of Aggregate Revolving Commitments.

            	
              54

            
	
              2.07

            	
              Repayment
                of Loans.

            	
              55

            
	
              2.08

            	
              Interest.

            	
              55

            
	
              2.09

            	
              Fees.

            	
              56

            
	
              2.10

            	
              Computation
                of Interest and Fees.

            	
              56

            
	
              2.11

            	
              Evidence
                of Debt.

            	
              57

            
	
              2.12

            	
              Payments
                Generally; Administrative Agent’s Clawback.

            	
              57

            
	
              2.13

            	
              Sharing
                of Payments by Lenders.

            	
              59

            
	
              ARTICLE
                III 

            	
              TAXES,
                YIELD PROTECTION AND ILLEGALITY

            	
              60

            
	
              3.01

            	
              Taxes.

            	
              60

            
	
              3.02

            	
              Illegality.

            	
              62

            
	
              3.03

            	
              Inability
                to Determine Rates.

            	
              63

            
	
              3.04

            	
              Increased
                Costs.

            	
              63

            
	
              3.05

            	
              Compensation
                for Losses; Breakage Payments.

            	
              65

            
	
              3.06

            	
              Mitigation
                Obligations; Replacement of Lenders.

            	
              66

            
	
              3.07

            	
              Survival.

            	
              66

            
	
              ARTICLE
                IV 

            	
              GUARANTY

            	
              66

            
	
              4.01

            	
              The
                Guaranty.

            	
              66

            
	
              4.02

            	
              Obligations
                Unconditional.

            	
              67

            
	
              4.03

            	
              Reinstatement.

            	
              68

            
	
              4.04

            	
              Certain
                Additional Waivers.

            	
              68

            
	
              4.05

            	
              Remedies.

            	
              69

            
	
              4.06

            	
              Rights
                of Contribution.

            	
              69

            
	
              4.07

            	
              Guarantee
                of Payment; Continuing Guarantee.

            	
              69

            
	
              ARTICLE
                V CONDITIONS 

            	
              PRECEDENT
                TO CREDIT EXTENSIONS

            	
              69

            
	
              5.01

            	
              Conditions
                of Closing Date and Initial Credit Extension.

            	
              69

            
	
              5.02

            	
              Conditions
                to all Credit Extensions.

            	
              72

            
	
              ARTICLE
                VI 

            	
              REPRESENTATIONS
                AND WARRANTIES

            	
              73

            
	
              6.01

            	
              Existence,
                Qualification and Power.

            	
              73

            

       

       

      
        
           

        

        
          i

          
            

          

        

        
           

        

      

       

      
        	
                6.02

              	
                Authorization;
                  No Contravention.

              	
                73

              
	
                6.03

              	
                Governmental
                  Authorization; Other Consents.

              	
                73

              
	
                6.04

              	
                Binding
                  Effect.

              	
                74

              
	
                6.05

              	
                Financial
                  Statements; No Material Adverse Effect.

              	
                74

              
	
                6.06

              	
                Litigation.

              	
                75

              
	
                6.07

              	
                No
                  Default.

              	
                75

              
	
                6.08

              	
                Ownership
                  of Property; Liens.

              	
                75

              
	
                6.09

              	
                Environmental
                  Compliance.

              	
                75

              
	
                6.10

              	
                Insurance.

              	
                76

              
	
                6.11

              	
                Taxes.

              	
                76

              
	
                6.12

              	
                ERISA
                  Compliance.

              	
                77

              
	
                6.13

              	
                Capital
                  Structure/Subsidiaries.

              	
                77

              
	
                6.14

              	
                Margin
                  Regulations; Investment Company Act; Public Utility Holding Company
                  Act.

              	
                77

              
	
                6.15

              	
                Disclosure.

              	
                77

              
	
                6.16

              	
                Compliance
                  with Laws.

              	
                78

              
	
                6.17

              	
                Intellectual
                  Property.

              	
                78

              
	
                6.18

              	
                Solvency.

              	
                78

              
	
                6.19

              	
                Telecommunications
                  Regulatory Matters.

              	
                78

              
	
                ARTICLE
                  VII 

              	
                AFFIRMATIVE
                  COVENANTS

              	
                79

              
	
                7.01

              	
                Financial
                  Statements.

              	
                79

              
	
                7.02

              	
                Certificates;
                  Other Information.

              	
                80

              
	
                7.03

              	
                Notices
                  and Information.

              	
                81

              
	
                7.04

              	
                Payment
                  of Obligations.

              	
                82

              
	
                7.05

              	
                Preservation
                  of Existence, Etc.

              	
                82

              
	
                7.06

              	
                Maintenance
                  of Properties.

              	
                83

              
	
                7.07

              	
                Maintenance
                  of Insurance.

              	
                83

              
	
                7.08

              	
                Compliance
                  with Laws and Contractual Obligations.

              	
                83

              
	
                7.09

              	
                Books
                  and Records.

              	
                83

              
	
                7.10

              	
                Inspection
                  Rights.

              	
                84

              
	
                7.11

              	
                Use
                  of Proceeds.

              	
                84

              
	
                7.12

              	
                Additional
                  Guarantors.

              	
                84

              
	
                7.13

              	
                Further
                  Assurances.

              	
                86

              
	
                ARTICLE
                  VIII 

              	
                NEGATIVE
                  COVENANTS

              	
                86

              
	
                8.01

              	
                Liens.

              	
                87

              
	
                8.02

              	
                Investments.

              	
                89

              
	
                8.03

              	
                Indebtedness.

              	
                92

              
	
                8.04

              	
                Fundamental
                  Changes.

              	
                95

              
	
                8.05

              	
                Dispositions.

              	
                96

              
	
                8.06

              	
                Restricted
                  Payments.

              	
                96

              
	
                8.07

              	
                Change
                  in Nature of Business.

              	
                97

              
	
                8.08

              	
                Transactions
                  with Affiliates and Insiders.

              	
                97

              
	
                8.09

              	
                Burdensome
                  Agreements.

              	
                98

              
	
                8.10

              	
                Use
                  of Proceeds.

              	
                98

              
	
                8.11

              	
                Financial
                  Covenants.

              	
                98

              

         

         

        
          
             

          

          
            ii

            
              

            

          

          
             

          

        

         

        
          	
                  8.12

                	
                  Prepayment
                    of Other Indebtedness, Amendment of Documents, Etc.

                	
                  100

                
	
                  8.13

                	
                  Organization
                    Documents; Fiscal Year.

                	
                  101

                
	
                  8.14

                	
                  Ownership
                    of Subsidiaries.

                	
                  101

                
	
                  8.15

                	
                  Negative
                    Covenants Applicable to Wireless Holdco.

                	
                  101

                
	
                  8.16

                	
                  Designated
                    Senior Indebtedness.

                	
                  101

                
	
                  ARTICLE
                    IX 

                	
                  EVENTS
                    OF DEFAULT AND REMEDIES

                	
                  102

                
	
                  9.01

                	
                  Events
                    of Default.

                	
                  102

                
	
                  9.02

                	
                  Remedies
                    Upon Event of Default.

                	
                  104

                
	
                  9.03

                	
                  Application
                    of Funds.

                	
                  105

                
	
                  ARTICLE
                    X 

                	
                  ADMINISTRATIVE
                    AGENT

                	
                  106

                
	
                  10.01

                	
                  Appointment
                    and Authority.

                	
                  106

                
	
                  10.02

                	
                  Rights
                    as a Lender.

                	
                  106

                
	
                  10.03

                	
                  Exculpatory
                    Provisions.

                	
                  106

                
	
                  10.04

                	
                  Reliance
                    by Administrative Agent.

                	
                  107

                
	
                  10.05

                	
                  Delegation
                    of Duties.

                	
                  108

                
	
                  10.06

                	
                  Resignation
                    of Administrative Agent.

                	
                  108

                
	
                  10.07

                	
                  Non-Reliance
                    on Administrative Agent and Other Lenders.

                	
                  109

                
	
                  10.08

                	
                  No
                    Other Duties, Etc..

                	
                  109

                
	
                  10.09

                	
                  Administrative
                    Agent May File Proofs of Claim.

                	
                  109

                
	
                  10.10

                	
                  Collateral
                    and Guaranty Matters.

                	
                  110

                
	
                  ARTICLE
                    XI 

                	
                  MISCELLANEOUS

                	
                  111

                
	
                  11.01

                	
                  Amendments,
                    Etc.

                	
                  111

                
	
                  11.02

                	
                  Notices.
                    Effectiveness of Electronic Communications.

                	
                  115

                
	
                  11.03

                	
                  No
                    Waiver; Cumulative Remedies.

                	
                  117

                
	
                  11.04

                	
                  Expenses;
                    Indemnity; Damage Waiver.

                	
                  118

                
	
                  11.05

                	
                  Payments
                    Set Aside.

                	
                  119

                
	
                  11.06

                	
                  Successors
                    and Assigns.

                	
                  120

                
	
                  11.07

                	
                  Treatment
                    of Certain Information; Confidentiality.

                	
                  124

                
	
                  11.08

                	
                  Set-off.

                	
                  124

                
	
                  11.09

                	
                  Interest
                    Rate Limitation.

                	
                  125

                
	
                  11.10

                	
                  Counterparts;
                    Integration; Effectiveness.

                	
                  125

                
	
                  11.11

                	
                  Survival
                    of Representations and Warranties.

                	
                  126

                
	
                  11.12

                	
                  Severability.

                	
                  126

                
	
                  11.13

                	
                  Replacement
                    of Lenders.

                	
                  126

                
	
                  11.14

                	
                  Governing
                    Law; Jurisdiction; Etc.

                	
                  127

                
	
                  11.15

                	
                  Waiver
                    of Jury Trial.

                	
                  128

                
	
                  11.16

                	
                  Term
                    of Agreement.

                	
                  128

                
	
                  11.17

                	
                  USA
                    PATRIOT Act Notice.

                	
                  128

                
	
                  11.18

                	
                  Subordination
                    of Intercompany Debt.

                	
                  129

                
	
                  11.19

                	
                  Matters
                    Related to Existing Indentures.

                	
                  129

                
	
                  11.20

                	
                  Permitted
                    Receivables Financings.

                	
                  129

                

        

      

    

    

    

    
      
         

      

      
        iii

        
          

        

      

      
         

      

    

    

    SCHEDULES

    

       1.01A  Existing
      Letters of Credit

    1.01B     Guarantors

    2.01       
      Commitments and Applicable Percentages

    6.03       
      Required Consents, Authorizations, Notices and Filings

    6.13(a)     Corporate
      Structure

    6.13(b)                
      Subsidiaries

    8.01                   
      Existing Liens

    8.02                    
      Existing Investments

    8.03                   
      Existing Indebtedness

    11.02                 
      Administrative Agent’s Office, Certain Addresses for Notices

    11.06                 
      Processing and Recordation Fees

    

    

    EXHIBITS

    

    A                        
      Form of Committed Loan Notice

    B                        
      Form of Swingline Loan Notice

    C                        
      Form of Revolving Note

    C-1                     
      Form of Swingline Note

    C-2                     
      Form of Tranche B Term Note

    D                         
      Form of Compliance Certificate

    E                         
      Form of Joinder Agreement

    F                         
      Form of Assignment and Assumption

     

    
 

    
      
         

      

      
        iv

        
          

        

      

      
         

      

    

     

    CREDIT
      AGREEMENT

    

    This
      CREDIT AGREEMENT (as amended, modified, restated or supplemented from time
      to
      time, the “Agreement”) is entered into as of February 16, 2005, and
      amended and restated as of August 31, 2005 by and among CINCINNATI BELL INC.,
      an
      Ohio corporation (together with any permitted successors and assigns, the
“Borrower”), the Guarantors (as defined herein), the Lenders (as defined
      herein), and BANK OF AMERICA, N.A., as Administrative Agent and an L/C Issuer,
      and PNC BANK, NATIONAL ASSOCIATION, as Swingline Lender and an L/C
      Issuer.

    

    The
      Borrower has requested that the Lenders provide credit facilities in an
      aggregate amount of $650,000,000 for the purposes hereinafter set forth, and
      the
      Lenders are willing to do so on the terms and conditions set forth
      herein.

    

    In
      consideration of the mutual covenants and agreements herein contained, and
      other
      good and valuable consideration, the receipt and sufficiency of which is hereby
      acknowledged, the parties hereto covenant and agree as follows:

    

    

    ARTICLE
      I

    DEFINITIONS
      AND ACCOUNTING TERMS

    

    1.01 Defined
      Terms.

    

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

    

    “1993
      Senior Note Documents” means the 1993 Senior Notes, the 1993 Senior Note
      Indenture, and any other agreements, indentures and instruments pursuant to
      which the 1993 Senior Notes issued.

    

    “1993
      Senior Note Indenture” means the Indenture, dated as of
      July 1, 1993, between the Borrower, as issuer, and The Bank of New
      York, as Trustee.

    

    “1993
      Senior Notes” means the Borrower’s 71⁄4% Senior Notes due 2023 issued pursuant
      to the 1993 Senior Note Indenture.

    

    “2003
      83⁄8% Junior Note Documents” means the 2003 83⁄8% Junior Notes, the 2003 83⁄8%
      Junior Note Indenture, and any other agreements, indentures and instruments
      pursuant to which the 2003 83⁄8% Junior Notes are issued.

    

    “2003
      83⁄8% Junior Note Indenture” means the Indenture, dated as of
      November 19, 2003, by and among the Borrower, as issuer, the
      guarantors party thereto and The Bank of New York, as trustee.

    

    “2003
      83⁄8% Junior Notes” means the Borrower’s 83⁄8% Senior Subordinated Notes due
      2014 issued pursuant to the 2003 83⁄8% Junior Note Indenture.

     

    
      
         

      

      
        1

        
          

        

      

      
         

      

    

    
 

    “2003
      16% Junior Note Indenture” means the Indenture, dated as of
      March 26, 2003, by and among the Borrower, as issuer, the guarantors
      party thereto and The Bank of New York, as trustee.

    

    “2003
      16% Junior Note Purchase Agreement” means the Purchase Agreement dated as of
      December 9, 2002 among the Borrower, GS Mezzanine Partners II, L.P.
      and GS Mezzanine Partners II Offshore, L.P.

    

    “2003
      16% Junior Notes” means the Borrower’s 16% Senior Subordinated Discount
      Notes due 2009.

    

    “2003
      Senior Note Documents” means the 2003 Senior Notes, the 2003 Senior Note
      Indenture, and any other agreements, indentures and instruments pursuant to
      which the 2003 Senior Notes issued.

    

    “2003
      Senior Note Indenture” means the Indenture, dated as of
      July 11, 2003, by and among the Borrower, as issuer, the guarantors
      party thereto and The Bank of New York, as Trustee.

    

    “2003
      Senior Notes” means the Borrower’s 71⁄4% Senior Notes due 2013 issued by the
      Borrower pursuant to the 2003 Senior Note Indenture.

    

    “2005
      Junior Note Documents” means the 2005 Junior Notes, the 2003 83⁄8% Junior Note
      Indenture, and any other agreements, indentures and instruments pursuant to
      which the 2005 Junior Notes are issued.

    

    “2005
      Junior Notes” means the Borrower’s 83⁄8% Senior Subordinated Notes due 2014
      issued on the Closing Date pursuant to the 2003 83⁄8% Junior Note
      Indenture.

    

    “2005
      Senior Note Documents” means the 2005 Senior Notes, the 2005 Senior Note
      Indenture, and any other agreements, indentures and instruments pursuant to
      which the 2005 Senior Notes issued.

    

    “2005
      Senior Note Indenture” means the Indenture, dated as of the Closing Date, by
      and among the Borrower, as issuer, and The Bank of New York, as
      trustee.

    

    “2005
      Senior Notes” means the Borrower’s 7% Senior Notes due 2015 issued by the
      Borrower pursuant to the 2005 Senior Note Indenture.

    

    “Acquisition”
      means, with respect to any Person, the acquisition by such Person, in a single
      transaction or in a series of related transactions, of substantially all of
      the
      Capital Stock or all or substantially all of the Property, or a business unit
      or
      product line, of another Person, whether or not involving a merger or
      consolidation with such other Person and whether for cash, property, services,
      assumption of Indebtedness, securities or otherwise.

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

     

    “Administrative
      Agent” means Bank of America in its capacity as administrative agent under
      any of the Loan Documents, or any successor administrative agent.

    

    “Administrative
      Agent’s Office” means the Administrative Agent’s address and, as
      appropriate, account as set forth on Schedule 11.02, or such other
      domestic address or account as the Administrative Agent may from time to time
      notify the Borrower and the Lenders.

    

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

    

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

    

    “Aggregate
      Revolving Commitments” means the Revolving Commitments of all the Lenders.
      The initial amount of the Aggregate Revolving Commitments in effect on the
      Closing Date is TWO HUNDRED AND FIFTY MILLION DOLLARS
      ($250,000,000).

    

    “Agreement”
      has the meaning assigned to such term in the heading hereof.

    

    “Applicable
      Percentage” means as to each Lender, (a) with respect to such Lender’s
      Revolving Commitment at any time, the percentage (carried out to the ninth
      decimal place) of the Aggregate Revolving Commitments represented by such
      Lender’s Revolving Commitment at such time; provided that if the
      commitment of each Lender to make Revolving Loans and the obligation of each
      L/C
      Issuer to make L/C Credit Extensions have been terminated pursuant to
Section 9.02 or if the Revolving Commitments have expired, then the
      Applicable Percentage of each Lender shall be determined based on the Applicable
      Percentage of such Lender most recently in effect, giving effect to any
      subsequent assignments, and (b) with respect to such Lender’s outstanding
      Tranche B Term Loans at any time, the percentage (carried out to the ninth
      decimal place), of the total aggregate principal amount of the Tranche B
      Term Loan represented by the Tranche B Term Loans held by such Lender at such
      time. The initial Applicable Percentage of each Lender is set forth opposite
      the
      name of such Lender on Schedule 2.01 or in the Assignment and Assumption
      pursuant to which such Lender becomes a party hereto, as applicable.

    

    “Applicable
      Rate” means, for the purposes of calculating (a) the Letter of Credit
      Fees for the purposes of Section 2.03(i), (b) the interest rate
      applicable to Eurodollar Rate Loans for the purposes of
Section 2.08(a), (c) the interest rate applicable to Base Rate
      Loans for the purposes of Section 2.08(a), and (d) the
      Commitment Fee for the purposes of Section 2.09(a), the following
      percentages per annum, based upon the Consolidated Total Leverage Ratio as
      set
      forth in the most recent Compliance Certificate received by the Administrative
      Agent pursuant to Section 7.02(b) for the four-quarter period ending
      as of the last day of the fiscal quarter to which such Compliance Certificate
      relates:

    

    

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

    

     

    

    
      	 	 	
              Applicable
                Rates

            
	
               

            	
               

            	
              For
                Revolving 

              Loans
                

            	
              For
                Tranche B 

              Term
                Loan

            	
               

              For
                

              Letter
                of Credit Fees

            	
               

               

              For
                Commitment Fee

            
	
              
              

              Pricing
                Level

            	
              Consolidated
                Total Leverage Ratio

            	
              Eurodollar
                Rate Loans

            	
               

              Base
                Rate Loans

            	
              Eurodollar

              Rate
                Loans

            	
               

              Base
                Rate Loans

            
	
              1

            	
              <
3.0
                to
                1.0

            	
              1.25%

            	
              0.25%

            	
              1.50%

            	
              0.50%

            	
              1.25%

            	
              0.50%

            
	
              2

            	
              >
                3.0 to
                1.0

              but

              <
3.5
                to
                1.0

            	
               

              1.50%

            	
               

              0.50%

            	
               

              1.50%

            	
               

              0.50%

            	
               

              1.50%

            	
               

              0.50%

            
	
              3

            	
              >
                3.5 to
                1.0

              but

              <
4.0
                to
                1.0

            	
               

              1.75%

            	
               

              0.75%

            	
               

              1.50%

            	
               

              0.50%

            	
               

              1.75%

            	
               

              0.50%

            
	
              4

            	
              >
                4.0 to
                1.0

              but

              <
4.5
                to
                1.0

            	
               

              2.00%

            	
               

              1.00%

            	
               

              1.50%

            	
               

              0.50%

            	
               

              2.00%

            	
               

              0.50%

            
	
              5

            	
              >
                4.5 to
                1.0

            	
              2.25%

            	
              1.25%

            	
              1.50%

            	
              0.50%

            	
              2.25%

            	
              0.50%

            

    

    

    Any
      increase or decrease in the Applicable Rate for Revolving Loans resulting from
      a
      change in the Consolidated Total Leverage Ratio shall become effective as of
      the
      first Business Day immediately following the date a Compliance Certificate
      is
      delivered pursuant to Section 7.02(b); provided,
however, that if a Compliance Certificate is not delivered
      when due in
      accordance with such Section, then Pricing Level 5 shall apply during the period
      commencing on the first Business Day after the date on which such Compliance
      Certificate was required to have been delivered and ending on the date on which
      delivered. Notwithstanding the foregoing, the Applicable Rate in effect from
      the
      Closing Date through the date on which the Borrower is required to deliver
      the
      required financial statements and Compliance Certificate for the fiscal quarter
      ending on or about December 31, 2004 shall be no lower than the Applicable
      Rate
      determined based upon Pricing Level 4.

    

    “Application
      Period” means, in respect of the Net Cash Proceeds of any Disposition and/or
      the Excess Proceeds of any Involuntary Disposition, the period of 360 days
      (or
      such earlier date as provided for reinvestment of the proceeds thereof under
      any
      of the Senior Note Indentures and/or the documents evidencing or governing
      any
      Subordinated Indebtedness) following receipt of such Net Cash Proceeds or Excess
      Proceeds by any Consolidated Party.

    

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

    

    “Arrangers”
      means Banc of America Securities LLC and Credit Suisse First Boston, acting
      in
      their capacities as joint lead arranger and joint book manager, and
“Arranger” means either of them.

     

     

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

     

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

    

    “Assignment
      and Assumption” means an assignment and assumption entered into by a Lender
      and an Eligible Assignee (with the consent of any party whose consent is
      required by Section 11.06(b)), and accepted by the Administrative
      Agent, in substantially the form of Exhibit F or any other form
      approved by the Administrative Agent.

    

    “Attributable
      Indebtedness” means, on any date, (a) in respect of any Capital Lease
      of any Person, the capitalized amount thereof that would appear on a balance
      sheet of such Person prepared as of such date in accordance with GAAP, and
      (b) in respect of any Synthetic Lease Obligation, the capitalized amount of
      the remaining lease payments under the relevant lease that would appear on
      a
      balance sheet of such Person prepared as of such date in accordance with GAAP
      if
      such lease were accounted for as a Capital Lease.

    

    “Attributed
      Principal Amount” means, on any day, with respect to any Permitted
      Receivables Financing, the aggregate principal, stated or invested amount of
      notes, bonds or other debt instruments, beneficial interests in a trust,
      undivided ownership interests in receivables or other securities issued for
      cash
      consideration by the relevant Receivables Financing SPC to Receivables
      Financiers the proceeds of which are used to finance, in whole or in part,
      the
      purchase by such Receivables Financing SPC of Transferred Assets in such
      Permitted Receivables Financing.

    

    “Audited
      Financial Statements” means the audited consolidated balance sheet of the
      Borrower and its Subsidiaries for the fiscal year ended
      December 31, 2003, and the related consolidated statements of income
      or operations, shareholders’ equity and cash flows for such fiscal year of the
      Borrower and its Subsidiaries, including the notes thereto.

    

    “Availability
      Period” means, with respect to the Revolving Commitments, the period from
      the Closing Date to the earliest of (a) the Maturity Date, (b) the
      date of termination of the Aggregate Revolving Commitments pursuant to
Section 2.06 and (c) the date of termination of the commitment
      of each Lender to make Loans and of the obligation of each L/C Issuer to make
      L/C Credit Extensions pursuant to Section 9.02.

    

    “Bank
      of America” means Bank of America, N.A. and its successors.

    

    “Bankruptcy
      Code” means the Bankruptcy Code in Title 11 of the United States Code, as
      amended, modified, succeeded or replaced from time to time.

    

    “Base
      Rate” means for any day a fluctuating rate per annum equal to the higher of
      (a) the Federal Funds Rate plus 1/2 of 1% and (b) the rate of
      interest in effect for such day as publicly announced from time to time by
      Bank
      of America as its “prime rate.” The “prime rate” is a rate set by Bank of
      America based upon various factors including Bank of America’s costs and desired
      return, general economic conditions and other factors, and is used as a
      reference point for pricing some loans, which may be priced at, above, or below
      such announced rate. Any change

     

    
      
         

      

      
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    in
      such
      rate announced by Bank of America shall take effect at the opening of business
      on the day specified in the public announcement of such change.

    

    “Base
      Rate Committed Loan” means a Committed Loan that is a Base Rate
      Loan.

    

    “Base
      Rate Loan” means a Loan that bears interest based on the Base
      Rate.

    

    “Base
      Rate Revolving Loan” means a Revolving Loan that is a Base Rate
      Loan.

    

    “Borrower”
      has the meaning specified in the heading hereof.

    

    “Borrower
      Materials” has the meaning specified in the final paragraph of Section
      7.02.

    

    “Borrowing”
      means a Committed Borrowing or a Swingline Borrowing, as the context may
      require.

    

    “Business
      Day” means any day other than a Saturday, Sunday or other day on which
      commercial banks are authorized to close under the Laws of, or are in fact
      closed in, the state where the Administrative Agent’s Office is located and, if
      such day relates to any Eurodollar Rate Loan, means any such day on which
      dealings in Dollar deposits are conducted by and between banks in the London
      interbank eurodollar market.

    

    “Businesses”
      means, at any time, a collective reference to the businesses operated by the
      Consolidated Parties at such time.

    

    “Calculation
      Date” means the date of the applicable Specified Transaction which gives
      rise to the requirement to calculate the financial covenants set forth in
Section 8.11(a)-(d) on a Pro Forma
      Basis.

    

    “Calculation
      Period” means, in respect of any Calculation Date, the period of four fiscal
      quarters of the Borrower ended as of the last day of the most recent fiscal
      quarter of the Borrower preceding such Calculation Date for which the
      Administrative Agent shall have received the Required Financial
      Information.

    

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

    

    “Capital
      Stock” means (a) in the case of a corporation, capital stock,
      (b) in the case of an association or business entity, any and all shares,
      interests, participations, rights or other equivalents (however designated)
      of
      capital stock, (c) in the case of a partnership, partnership interests
      (whether general or limited), (d) in the case of a limited liability
      company, membership interests and (e) any other interest or participation
      that confers on a Person the right to receive a share of the profits and losses
      of, or distributions of assets of, the issuing Person.

    

    “Cash
      Collateral” has the meaning specified in
Section 2.03(g).

    

     

    
      
         

      

      
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    “Cash
      Collateralize” has the meaning specified in
Section 2.03(g).

    

    “Cash
      Equivalents” means, as at any date, (a) securities issued or directly
      and fully guaranteed or insured by the United States or any agency or
      instrumentality thereof (provided that the full faith and credit of the United
      States is pledged in support thereof) having maturities of not more than two
      years from the date of acquisition, (b) Dollar denominated time deposits
      and certificates of deposit of (i) any Lender, (ii) any domestic
      commercial bank of recognized standing having capital and surplus in excess
      of
      $500,000,000 or a commercial bank organized under the laws of any other country
      that is a member of the OECD having total assets in excess of $500,000,000
      (or
      its foreign currency equivalent at the time) or (iii) any bank whose
      short-term commercial paper rating from S&P is at least A-1 or the
      equivalent thereof or from Moody’s is at least P-1 (or, if at any time neither
      S&P nor Moody’s shall be rating such obligations, then an equivalent rating
      from such other nationally recognized rating service acceptable to the
      Administrative Agent) or the equivalent thereof (any such bank being an
“Approved Bank”), in each case with maturities of not more than one year from
      the date of acquisition, (c) commercial paper and variable or fixed rate
      notes issued by any Approved Bank (or by the parent company thereof) or any
      variable rate notes issued by, or guaranteed by, any domestic corporation rated
      A-2 (or the equivalent thereof) or better by S&P or P-2 (or the equivalent
      thereof) or better by Moody’s (or, if at any time neither S&P nor Moody’s
      shall be rating such obligations, then an equivalent rating from such other
      nationally recognized rating service acceptable to the Administrative Agent)
      and
      maturing within one year of the date of acquisition, (d) repurchase
      obligations with a term of not more than 30 days for underlying securities
      of
      the types described in clause (a) above entered into with (x) any bank
      meeting the qualifications specified in clause (b) above or (y) any
      primary government securities dealer reporting to the Market Reports Division
      of
      the Federal Reserve Bank of New York, (e) direct obligations issued by any
      state of the United States of America or any political subdivision of any such
      state or any public instrumentality thereof maturing, or subject to tender
      at
      the option of the holder thereof, within 90 days after the date of acquisition
      thereof, provided that, at the time of acquisition, the long-term debt of
      such state, political subdivision or public instrumentality has a rating of
      A
      (or higher) from S&P or A-2 (or higher) from Moody’s (or, if at any time
      neither S&P nor Moody’s shall be rating such obligations, then an equivalent
      rating from such other nationally recognized rating service acceptable to the
      Administrative Agent), (f) overnight bank deposits and bankers’ acceptances
      at any commercial bank organized in the United States having capital and surplus
      in excess of $500,000,000 or a commercial bank organized under the laws of
      any
      other country that is a member of the OECD having total assets in excess of
      $500,000,000 (or its foreign currency equivalent at the time), (g) deposits
      available for withdrawal on demand with a commercial bank organized in the
      United States having capital and surplus in excess of $500,000,000 or a
      commercial bank organized under the laws of any other country that is a member
      of the OECD having total assets in excess of $500 million) or its foreign
      currency equivalent at the time) and (h) Investments, classified in
      accordance with GAAP as current assets, in money market funds which comply
      with
      the criteria set forth in Securities and Exchange Commission Rule 2a-7 under
      the
      Investment Company Act of 1940, as amended, the portfolios of which are limited
      to Investments of the character described in the foregoing clauses (a)
      through (g).

    
 

    
      
         

      

      
        7

        
          

        

      

      
         

      

    

     

    “CBET”
      means Cincinnati Bell Extended Territories LLC, an Ohio limited liability
      company and a Wholly Owned Subsidiary of CBT.

    

    “CBT”
      means Cincinnati Bell Telephone Company LLC, an Ohio limited liability company
      and a Wholly Owned Subsidiary of the Borrower.

    

    “CBT
      1993 Indenture” means the Indenture, dated as of October 27, 1993,
      among CBT, as issuer, the Borrower, as guarantor, and the Bank of New York,
      as
      trustee.

    

    “CBT
      1998 Indenture” means the Indenture, dated as of
      November 30, 1998, among CBT, as issuer, the Borrower, as guarantor,
      and the Bank of New York, as trustee.

    

    “CBT
      Indentures” means a collective reference to the CBT 1993 Indenture and the
      CBT 1998 Indenture, and “CBT Indenture” means either of
      them.

    

    “CBT
      Note Documents” means a collective reference to the CBT Notes, the CBT
      Indentures, and any other agreements, indentures and instruments pursuant to
      which any CBT Notes are issued.

    

    “CBT
      Notes” means a collective reference to (a) the medium term notes issued
      by CBT pursuant to the CBT 1993 Indenture and (b) CBT’s 6.30% Debentures
      issued pursuant to the CBT 1998 Indenture.

    

    “CBT
      Subsidiaries” means a collective reference to Cincinnati Bell
      Telecommunication Services LLC, CBET and each other direct or indirect
      Subsidiary of CBT, and “CBT Subsidiary” means any of them.

    

    “Change
      in Law” means the occurrence, after the date of this Agreement, of any of
      the following: (a) the adoption or taking effect of any law, rule,
      regulation or treaty, (b) any change in any law, rule, regulation or treaty
      or in the administration, interpretation or application thereof by any
      Governmental Authority or (c) the making or issuance of any request,
      guideline or directive (whether or not having the force of law) by any
      Governmental Authority.

    

    “Change
      of Control” means an event or series of events by which:

    

    (a) any
      “person” or “group” (as such terms are used in Sections 13(d) and 14(d) of
      the Securities Exchange Act of 1934, but excluding any employee benefit plan
      of
      such person or its subsidiaries, and any person or entity acting in its capacity
      as trustee, agent or other fiduciary or administrator of any such plan) becomes
      the “beneficial owner” (as defined in Rules 13d-3 and 13d-5 under the Securities
      Exchange Act of 1934, except that a person or group shall be deemed to have
      “beneficial ownership” of all securities that such person or group has the right
      to acquire (such right, an “option right”), whether such right is
      exercisable immediately or only after the passage of time), directly or
      indirectly, of 35% or more of the equity securities of the Borrower entitled
      to
      vote for members of the board of directors or equivalent governing body of
      the
      Borrower

     

    
      
         

      

      
        8

        
          

        

      

      
         

      

    

     

    on
      a
      fully-diluted basis (and taking into account all such securities that such
      person or group has the right to acquire pursuant to any option right);
      or

    

    (b) during
      any period of 24 consecutive months, a majority of the members of the board
      of
      directors or other equivalent governing body of the Borrower cease to be
      composed of individuals (i) who were members of that board or equivalent
      governing body on the first day of such period, (ii) whose election or
      nomination to that board or equivalent governing body was approved by
      individuals referred to in clause (i) above constituting at the time of
      such election or nomination at least a majority of that board or equivalent
      governing body or (iii) whose election or nomination to that board or other
      equivalent governing body was approved by individuals referred to in
      clauses (i) and (ii) above constituting at the time of such election or
      nomination at least a majority of that board or equivalent governing body
      (excluding, in the case of both clause (ii) and clause (iii), any
      individual whose initial nomination for, or assumption of office as, a member
      of
      that board or equivalent governing body occurs as a result of an actual or
      threatened solicitation of proxies or consents for the election or removal
      of
      one or more directors by any person or group other than a solicitation for
      the
      election of one or more directors by or on behalf of the board of directors);
      or

    

    (c) there
      shall occur a “Change of Control” (or any comparable term) under, and as defined
      in, any Senior Note Indenture, either CBT Indenture, the 2003 8 3/8 Junior
      Note
      Indenture and/or the documents evidencing or governing any other Subordinated
      Indebtedness.

    

    “Cingular”
      means Cingular Wireless LLC (f/k/a AT&T Wireless Services,
      Inc.)

    

    “Closing
      Date” means the first date all the conditions precedent in
Section 5.01 are satisfied or waived in accordance with
Section 11.01.

    

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

    

    “Collateral”
      means a collective reference to all Property with respect
      to which Liens in favor of the Collateral Agent (for the
      ratable benefit of the Lenders) are purported to be granted pursuant
      to and in accordance with the terms
      of the Collateral Documents.

    

    “Collateral
      Agent” means Bank of America, in its capacity as collateral agent under the
      Collateral Documents, together with any successors or assigns.

    

    “Collateral
      Documents” means a collective reference to the Security Agreements and such
      other security documents as may be executed and delivered by the Loan Parties
      pursuant to the terms of Sections 7.12 and 7.13.

    

    “Commitment”
      means, as to each Lender, the Revolving Commitment of such Lender and/or the
      Tranche B Term Loan Commitment of such Lender.

     

    
      
         

      

      
        9

        
          

        

      

      
         

      

    

     

    “Committed
      Borrowing” means a borrowing consisting of simultaneous Committed Loans of
      the same Type and, in the case of Eurodollar Rate Loans, having the same
      Interest Period made by each of the Lenders pursuant to
Section 2.01.

    

    “Committed
      Loan” means each Revolving Loan and the Tranche B Term Loan.

    

    “Committed
      Loan Notice” means a notice of (a) a Committed Borrowing, (b) a
      conversion of Committed Loans from one Type to the other, or (c) a
      continuation of Eurodollar Rate Loans, pursuant to Section 2.02(a),
      which, if in writing, shall be substantially in the form of
Exhibit A.

    

    “Compliance
      Certificate” means a certificate substantially in the form of
Exhibit D.

    

    “Consolidated
      Capital Expenditures” means, for any period, for the Consolidated
      Parties on a consolidated basis, all capital expenditures made during such
      period, as determined in accordance with GAAP; provided, however,
      that Consolidated Capital Expenditures shall not include (a) Eligible
      Reinvestments made with proceeds of any (i) Involuntary Disposition, (ii)
      Disposition of like-kind Property or (iii) Disposition by a Consolidated Party
      consisting of the sale, lease, license, transfer or other disposition of
      machinery and equipment no longer used or useful in the conduct of such
      Consolidated Party’s business, or (b) Acquisitions.

    

    “Consolidated
      Cash Taxes” means, for any period, for the Consolidated Parties
      on a consolidated basis, the aggregate of all income taxes, as determined in
      accordance with GAAP, to the extent the same are paid in cash during such
      period.

    

    “Consolidated
      EBITDA” means, for any period, for the Consolidated Parties on a
      consolidated basis, an amount equal to Consolidated Net Income for such period
      plus, without duplication (a) the following to the extent deducted
      in calculating such Consolidated Net Income: (i) Consolidated Interest
      Charges for such period, (ii) the provision for Federal, state, local and
      foreign income taxes payable by the Borrower and its Subsidiaries,
      (iii) depreciation and amortization expense, (iv) other non-cash items
      and (v) restructuring charges in respect of cash payments relating to the
      Borrower’s workforce reduction restructuring plan reported on the Borrower’s
      Form 8-K filed with the SEC on November 3, 2004, taken on or
      before December 31, 2007, in an aggregate amount not to exceed
      $20,000,000, minus (b) the following to the
      extent included in calculating such Consolidated Net Income: (i) Federal,
      state, local and foreign income tax credits, (ii) all non-cash items
      increasing Consolidated Net Income and (iii) all charges and expenses
      (other than charges and expenses relating to the Disposition of the Borrower’s
      broadband business in an aggregate amount not exceeding $35,000,000 in the
      aggregate) which represent a cash realization in respect of any non-cash item
      that was added back to Consolidated Net Income in the calculation of
      Consolidated EBITDA for any prior period.

    

    “Consolidated
      Fixed Charge Coverage Ratio” means, as of the last day of any fiscal quarter
      of the Consolidated Parties, the ratio for the four fiscal quarter period ending
      on such date, of (a) the sum of (i) Consolidated EBITDA minus
      (ii) Consolidated Capital Expenditures minus

     

     

    
      
         

      

      
        10

        
          

        

      

      
         

      

    

     

    (iii) Consolidated
      Cash Taxes to (b) the sum of (i) Consolidated Interest Charges
plus (ii) Consolidated Scheduled Funded Debt Payments.

    

    “Consolidated
      Funded Indebtedness” means, as of any date of determination, for the
      Consolidated Parties on a consolidated basis, without duplication, the sum
      of
      (a) the principal portion of all obligations for borrowed money,
      (b) the principal portion of all obligations evidenced by bonds,
      debentures, notes or similar instruments, or upon which interest payments are
      customarily made, (c) the principal portion of all obligations under
      conditional sale or other title retention agreements relating to Property
      purchased by the Consolidated Parties (other than customary reservations or
      retentions of title under agreements with suppliers entered into in the ordinary
      course of business), (d) the principal portion of all obligations issued or
      assumed as the deferred purchase price of Property or services purchased by
      the
      Consolidated Parties (other than trade debt incurred in the ordinary course
      of
      business and due within six months of the incurrence thereof) which would appear
      as liabilities on a balance sheet of the Consolidated Parties, (e) the
      Attributable Indebtedness with respect to Capital Leases and Synthetic Lease
      Obligations, (f) all direct and contingent reimbursement obligations in
      respect of financial letters of credit, including, without duplication, all
      unreimbursed drafts drawn thereunder (less the amount of any cash collateral
      securing any such letters of credit), (g) the principal component or
      liquidation preference of all preferred Capital Stock issued by such Person
      and
      which by the terms thereof could at any time prior to the Maturity Date (other
      than pursuant to a change of control provision that is defined no more broadly
      that the definition of “Change of Control” set forth in Section 1.01) be
      (at the request of the holders thereof or otherwise) subject to mandatory
      sinking fund payments, mandatory redemption or other
      acceleration, (h) the outstanding Attributed Principal
      Amount under any Permitted Receivables Financing (all such Indebtedness of
      the
      types described in the forgoing clauses (a) through (h), as to any Person,
“Funded Indebtedness”), (i) all Funded Indebtedness of others
      secured by (or for which the holder of such Funded Indebtedness has an existing
      right, contingent or otherwise, to be secured by) any Lien on, or payable out
      of
      the proceeds of production from, Property owned or acquired by the Consolidated
      Parties, whether or not the obligations secured thereby have been assumed,
      (j) all Guarantees with respect to Funded Indebtedness of another Person
      and (k) the Funded Indebtedness of any partnership or unincorporated joint
      venture in which a Consolidated Party a general partner or a joint venturer
      to
      the extent such Indebtedness is recourse to a Consolidated Party.

    

    “Consolidated
      Interest Charges” means, for any period, for the Consolidated Parties on a
      consolidated basis, the sum of (a) all interest expenses of the
      Consolidated Parties in connection with borrowed money (excluding all
      Indebtedness and payment obligations referred to in clause (f) of the definition
      of Indebtedness herein, and including capitalized interest, the interest
      component under Capital Leases and the implied interest component of Permitted
      Receivables Financings and Synthetic Lease Obligations) or in connection with
      the deferred purchase price of assets, in each case to the extent treated as
      interest in accordance with GAAP, (b) the portion of rent expense with
      respect to such period under capital leases that is treated as interest in
      accordance with GAAP, and (c) cash dividends paid in respect of Permitted
      Preferred Stock and Other Permitted Equity, but excluding in each case for
      purposes of clauses (a), (b) and (c) above, (i) any amortization of
      original issue discount, (ii) the interest portion of any deferred payment
      obligation, (iii) any other interest not payable in cash, (iv) any
      financing fees or other charges or expenses, or the amortization thereof,
      incurred in connection with the issuance of any Indebtedness or preferred
      Capital Stock or the obtaining of
      any amendment, waiver or other

     

     

    
      
         

      

      
        11

        
          

        

      

      
         

      

    

     

    modification
      in respect of any Indebtedness or preferred Capital Stock, (v) to the
      extent included in “interest expense” in accordance with GAAP, any penalties
      paid or payable in connection with the prepayment of any Indebtedness and
      (vi) all non-cash interest expense due to the initial recording of any
      expense item in respect of an obligation classified as a debt obligation under
      FASB Interpretation No. 45 and all subsequent non-cash adjustments to such
      amount. For purposes of the foregoing, interest shall be determined after giving
      effect to any net payments made or received by the Borrower and its Subsidiaries
      with respect to Swap Contracts on a consolidated basis for any
      period.

    

    “Consolidated
      Interest Coverage Ratio” means, as of the last day of any fiscal quarter of
      the Consolidated Parties, the ratio, for the four fiscal quarter period ending
      on such date, of (a) Consolidated EBITDA to (b) Consolidated Interest
      Charges.

    

    “Consolidated
      Net Income” means, for any period, for the Consolidated Parties on a
      consolidated basis, net income (excluding extraordinary items and any prepayment
      costs, tender premiums or other cash or non-cash transaction charges expensed
      in
      connection with the prepayment of the 2003 16% Junior Notes) after interest
      expense, income taxes and depreciation and amortization, all as determined
      in
      accordance with GAAP.

    

    “Consolidated
      Parties” means a collective reference to the Borrower and the Subsidiaries
      of the Borrower, and “Consolidated Party” means any one of
      them.

    

    “Consolidated
      Scheduled Funded Debt Payments” means, for any period, for
      the Consolidated Parties on a consolidated basis, the sum of all scheduled
      payments of principal on Consolidated Funded Indebtedness, as determined in
      accordance with GAAP. For purposes of this definition, “scheduled payments of
      principal” (a) shall be determined without giving effect to any reduction
      of such scheduled payments resulting from the application of any voluntary
      or
      mandatory prepayments made during the applicable period, (b) shall be
      deemed to include, to the extent amortizing during such period, the Attributable
      Indebtedness in respect of Capital Leases and Synthetic Lease Obligations and
      (c) shall not include any voluntary prepayments or mandatory prepayments
      required pursuant to Section 2.05.

    

    “Consolidated
      Senior Indebtedness” means, as of any date of determination, for the
      Consolidated Parties on a consolidated basis, without duplication, the sum
      of
      the following: (a) the principal portion of the Obligations under the Loan
      Documents, (b) the principal portion of Consolidated Funded Indebtedness
      that is not expressly subordinated to the Obligations under the Loan Documents
      and Secured Hedge Agreements and is secured by any collateral (including,
      without limitation, the Attributed Principal Amount under any Permitted
      Receivables Financing), (c) the principal portion of Consolidated Funded
      Indebtedness which is recourse to any Excluded Subsidiary or to any Property
      of
      any Excluded Subsidiary, but excluding any Indebtedness owed to any Consolidated
      Party and (d) to the extent then due and payable, the Swap Termination Value
      under Secured Hedge Agreements to which the Borrower or any Subsidiary is a
      party.

    

    “Consolidated
      Senior Leverage Ratio” means, as of the last day of any fiscal quarter of
      the Consolidated Parties, the ratio of (a) Consolidated Senior Indebtedness
      as of such date to (b) Consolidated EBITDA for the four fiscal quarter
      period ending on such date.

    

     

    
      
         

      

      
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    “Consolidated
      Senior Secured Indebtedness” means, as of any date of determination, for the
      Consolidated Parties on a consolidated basis, without duplication, the sum
      of
      the following: (a) the principal portion of the Obligations under the Loan
      Documents, (b) the principal portion of Consolidated Funded Indebtedness
      that is not expressly subordinated to the Obligations under the Loan Documents
      and Secured Hedge Agreements and is secured by any collateral (including,
      without limitation, the Attributed Principal Amount under any Permitted
      Receivables Financing), and (c) to the extent then due and payable, the
      Swap Termination Value under Secured Hedge Agreements to which the Borrower
      or
      any Subsidiary is a party.

    

    “Consolidated
      Senior Secured Leverage Ratio” means, as of the last day of any fiscal
      quarter of the Consolidated Parties, the ratio of (a) Consolidated Senior
      Secured Indebtedness as of such date to (b) Consolidated EBITDA for the
      four fiscal quarter period ending on such date.

    

    “Consolidated
      Total Assets” means, as of the last day of any fiscal year of the
      Consolidated Parties for the Consolidated Parties on a consolidated basis,
      total
      assets as determined in accordance with GAAP.

    

    “Consolidated
      Total Leverage Ratio” means, as of the last day of any fiscal quarter of the
      Consolidated Parties, the ratio of (a) Consolidated Funded Indebtedness as
      of such date to (b) Consolidated EBITDA for the four fiscal quarter period
      ending on such date.

    

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

    

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

    

    “Credit
      Extension” means each of the following: (a) a Borrowing and (b) an
      L/C Credit Extension.

    

    “Debt
      Issuance” means the issuance by any Consolidated Party of any Indebtedness
      of the type referred to in clause (a) or (b) of the definition thereof set
      forth in this Section 1.01.

    

    “Debt
      Issuance Prepayment Event” means the receipt by any Consolidated Party of
      proceeds from any Debt Issuance other than an Excluded Debt
      Issuance.

    

    “Debtor
      Relief Laws” means the Bankruptcy Code of the United States, and all other
      liquidation, conservatorship, bankruptcy, assignment for the benefit of
      creditors, moratorium, rearrangement, receivership, insolvency, reorganization,
      or similar debtor relief Laws of the United States or other applicable
      jurisdictions from time to time in effect and affecting the rights of creditors
      generally.

     

     

    
      
         

      

      
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    “Default”
      means any event or condition that constitutes an Event of Default or that,
      with
      the giving of any notice, the passage of a stated grace period, or both, would
      be an Event of Default. It is understood and agreed that the institution of
      any
      proceeding under any Debtor Relief Law relating to any Consolidated Party (other
      than an Immaterial Subsidiary) or to all or any material part of its Property
      without the consent of such Person shall constitute an immediate Default that
      with the passage of the 60-calendar day period referred to in
Section 9.01(g) would be an Event of Default.

    

    “Default
      Rate” means (a) when used with respect to Obligations other than Letter
      of Credit Fees, an interest rate equal to (i) the Base Rate plus
      (ii) the Applicable Rate, if any, applicable to Base Rate Loans plus
      (iii) 2% per annum; provided, however, that with respect to a
      Eurodollar Rate Loan, the Default Rate shall be an interest rate equal to the
      interest rate (including any Applicable Rate) otherwise applicable to such
      Loan
      plus 2% per annum, and (b) when used with respect to Letter of Credit Fees,
      a rate equal to the Applicable Rate plus 2% per annum.

    

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

    

    “Discretionary
      L/C Issuer” has the meaning specified in
Section 2.03(b)(v).

    

    “Disposition”
      or “Dispose” means any disposition (including pursuant to a Sale and
      Leaseback Transaction) of any or all of the Property (including without
      limitation the Capital Stock of a Subsidiary) of any Consolidated Party whether
      by sale, lease, licensing, transfer or otherwise; provided,
however, that the term “Disposition” shall be deemed to exclude any
      Equity Issuance.

    

    “Disposition
      Prepayment Event” means, with respect to any Disposition other than an
      Excluded Disposition, the failure of the Loan Parties to apply (or cause to
      be
      applied) the Net Cash Proceeds of such Disposition to Eligible Reinvestments
      during the Application Period for such Disposition; provided that no
      Disposition Prepayment Event shall be deemed to have occurred during any fiscal
      year until the aggregate Net Cash Proceeds with respect to all Dispositions
      consummated during such fiscal year exceeds $25 million.

    

    “Dollar”
      and “$” mean lawful money of the United States.

    

    “Domestic
      Subsidiary” means any Subsidiary that is organized under the laws of any
      political subdivision of the United States.

    

    “Eligible
      Assignee” means (a) a Lender; (b) an Affiliate of a Lender; (c)
      any Approved Fund and (d) any other bank or financial institution approved
      by (i) the Administrative Agent and the L/C Issuers, and (ii) unless
      an Event of Default has occurred and is continuing, the

     

     

    
      
         

      

      
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    Borrower
      (each such approval not to be unreasonably withheld or delayed); provided
      that notwithstanding the foregoing, “Eligible Assignee” shall not include the
      Borrower or any of the Borrower’s Affiliates or Subsidiaries.

    

    “Eligible
      Reinvestment” means (a) any acquisition (whether or not constituting a
      capital expenditure, but not constituting an Acquisition) of assets or any
      business (or any substantial part thereof) used or useful in the same or a
      similar line of business as the Borrower and its Subsidiaries were engaged
      in on
      the Closing Date (or any reasonable extensions or expansions thereof) and
      (b) any Permitted Acquisition. 

    

    “Environmental
      Laws” means any and all Federal, state, local, and foreign statutes, laws,
      regulations, ordinances, rules, judgments, orders, decrees, agreements or other
      legally-binding governmental restrictions relating to pollution and the
      protection of the environment or the release of any hazardous materials,
      substances or wastes into the environment, including those related to hazardous
      materials, substances or wastes, air emissions and discharges of hazardous
      materials, substances or wastes to waste or public systems.

    

    “Environmental
      Liability” means any liability, contingent or otherwise (including any
      liability for damages, costs of environmental remediation, fines, penalties
      or
      indemnities), of the Borrower, any other Loan Party or any of their respective
      Subsidiaries 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
      Issuance” means any issuance by any Consolidated Party to any Person of
      (a) shares of its Capital Stock, (b) any shares of its Capital Stock
      pursuant to the exercise of options or warrants, (c) any shares of its
      Capital Stock pursuant to the conversion of any debt securities to equity or
      the
      conversion of any class equity securities to any other class of equity
      securities or (d) any options or warrants relating to its Capital Stock.
      The term “Equity Issuance” shall not be deemed to include any
      Disposition.

    

    “ERISA”
      means the Employee Retirement Income Security Act of 1974.

    

    “ERISA
      Affiliate” means any trade or business (whether or not incorporated) under
      common control with the Borrower within the meaning of Section 414(b) or
      (c) of the Code (and Sections 414(m) and (o) of the Code for purposes of
      provisions relating to Section 412 of the Code).

    

    “ERISA
      Event” means any of the following events that the Borrower knows or could
      reasonably be expected to know occurred: (a) a Reportable Event with
      respect to a Pension Plan; (b) a withdrawal by the Borrower or any ERISA
      Affiliate from a Pension Plan subject to Section 4063 of ERISA during a
      plan year in which it was a substantial employer (as defined in
      Section 4001(a)(2) of ERISA) or a cessation of operations that is treated
      as such a withdrawal under Section 4062(e) of ERISA; (c) a complete or
      partial withdrawal by the Borrower or any

     

     

    
      
         

      

      
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    ERISA
      Affiliate from a Multiemployer Plan or notification that a Multiemployer Plan
      is
      in reorganization; (d) the filing of a notice of intent to terminate, the
      treatment of a Pension Plan amendment as a termination under Sections 4041
      or 4041A of ERISA, or the commencement of proceedings by the PBGC to terminate
      a
      Pension Plan or Multiemployer Plan; (e) an event or condition which
      constitutes grounds under Section 4042 of ERISA for the termination of, or
      the appointment of a trustee to administer, any Pension Plan or Multiemployer
      Plan; or (f) the imposition of any liability under Title IV of ERISA,
      other than for PBGC premiums due but not delinquent under Section 4007 of
      ERISA, upon the Borrower or any ERISA Affiliate.

    

    “Eurodollar
      Rate” means, for any Interest Period with respect to a Eurodollar Rate Loan,
      the rate per annum equal to the British Bankers Association LIBOR Rate (“BBA
      LIBOR”), as published by Reuters (or other commercially available source
      providing quotations of BBA LIBOR as designated by the Administrative Agent
      from
      time to time) at approximately 11:00 a.m., London time, two Business Days prior
      to the commencement of such Interest Period, for Dollar deposits (for delivery
      on the first day of such Interest Period) with a term equivalent to such
      Interest Period. If such rate is not available at such time for any reason,
      then
      the “Eurodollar Rate” for such Interest Period shall be the rate per annum
      determined by the Administrative Agent to be the rate at which deposits in
      Dollars for delivery on the first day of such Interest Period in same day funds
      in the approximate amount of the Eurodollar Rate Loan being made, continued
      or
      converted by Bank of America and with a term equivalent to such Interest Period
      are offered by Bank of America’s London Branch to major banks in the London
      interbank eurodollar market at their request at approximately 11:00 a.m. (London
      time) two Business Days prior to the commencement of such Interest
      Period.

    

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

    

    “Event
      of Default” has the meaning specified in
Section 9.01.

    

    “Excess
      Proceeds” shall have the meaning assigned to such term in
Section 7.07(b).

    

    “Excluded
      Debt Issuance” means any Debt Issuance permitted by
Section 8.03.

    

    “Excluded
      Disposition” means, with respect to any Consolidated Party, any Disposition
      consisting of (a) the sale, lease, license, transfer or other disposition
      of Property in the ordinary course of such Consolidated Party’s business,
      (b) the sale, lease, license, transfer or other disposition of machinery
      and equipment no longer used or useful in the conduct of such Consolidated
      Party’s business, (c) any sale, lease, license, transfer or other
      disposition of Property by such Consolidated Party to any Loan Party,
      (d) if such Consolidated Party is an Excluded Subsidiary (other than CBT or
      any CBT Subsidiary), any sale, lease, license, transfer or other disposition
      of
      Property by such Consolidated Party to any other Excluded Subsidiary, (e) any
      sale, lease, license, transfer or other disposition of Property by CBT to a
      CBT
      Subsidiary, by a CBT Subsidiary to CBT, or among CBT Subsidiaries, (f) the
      sale, lease, transfer or other disposition of equipment that, in the aggregate
      for all such equipment during any fiscal year, has a fair market value or book
      value, which ever is greater, of not more that $1,000,000, (g) any
      Involuntary Disposition by such Consolidated Party, (h) any
      Disposition by such Consolidated Party

     

     

    
      
         

      

      
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    constituting
      a Permitted Investment, (i) any Disposition of Transferred Assets by such
      Consolidated Party in connection with a Permitted Receivables Financing,
      (j) the sale or discount without recourse of delinquent accounts receivable
      or notes receivable for collection purposes, or the conversion or exchange
      of
      delinquent accounts receivable into or for notes receivable in connection with
      the compromise or collection thereof, each in the ordinary course of business
      and not intended to constitute a financing arrangement, (k) the disposition
      of cash or investment securities in the ordinary course of management of the
      investment portfolio of the applicable Consolidated Party, (l) any sale or
      granting of any interest in conduits, fibers, dark fiber or an indefeasible
      right to use dark fiber or fiber capacity, (m) subleases of real Property
      and licenses of Intellectual Property, in each case entered into in the ordinary
      course of business and not intended to constitute a financing arrangement;
      (n) any Wireless Disposition; and (o) any exchange of assets to the extent
      qualifying for like kind treatment under Section 1031 of the Code.

    

    “Excluded
      Subsidiaries” means, subject to Section 7.12, (a) CBT and CBET,
      (b) Wireless LLC, (c) the Mutual Subsidiaries, (d) each
      Receivables Financings SPC, (e) each Foreign Subsidiary, (f) each
      Subsidiary created or acquired after the Closing Date as a Joint Venture, or
      that becomes a Joint Venture as a result of a permitted Disposition, and
      (g) each Subsidiary created or acquired after the Closing Date in respect
      of which (i) the Borrower shall have advised the Administrative Agent
      that it would be a violation of applicable law for such Subsidiary to become
      a
      Loan Party or (ii) the Administrative Agent shall have determined that the
      contractual, operational, expense, tax or regulatory consequences or difficulty
      of causing such Subsidiary to become a Guarantor would not, in light of the
      benefits to accrue to the Lenders, justify such Subsidiary becoming a Loan
      Party, and “Excluded Subsidiary” means any one of
      them.

    

    “Excluded
      Taxes” means, with respect to the Administrative Agent, any Lender, any L/C
      Issuer or any other recipient of any payment to be made by or on account of
      any
      obligation of the Borrower hereunder, (a) Taxes imposed on or measured by
      its overall net income (however denominated), and franchise Taxes imposed on
      it
      (in lieu of net income Taxes), by the jurisdiction (or any political subdivision
      thereof) under the laws of which such recipient is organized 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 or any similar Tax imposed by any other jurisdiction in
      which the Borrower is located and (c) in the case of a Foreign Lender
      (other than an assignee pursuant to a request by the Borrower under
Section 11.13), any withholding Tax that is imposed on amounts
      payable to such Foreign Lender at the time such Foreign Lender becomes a party
      hereto (or designates a new Lending Office) or is attributable to such Foreign
      Lender’s failure or inability (other than as a result of a Change in Law) to
      comply with Section 3.01(e), except to the extent that such Foreign
      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 Tax pursuant to
Section 3.01(a).

    

    “Existing
      Credit Agreement” means that certain Third Amendment and Restatement of
      Credit Agreement dated as of November 17, 2003, as amended, among the
      Borrower and BCSI, Inc., a Delaware corporation, as the borrowers thereunder,
      a
      syndicate of lenders, Bank of

     

     

    
      
         

      

      
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    America,
      N.A., as syndication agent for the lenders, CitiCorp USA, Inc., as
      administrative agent for the lenders, Credit Suisse First Boston and The Bank
      of
      New York, as co-documentation agents for the lenders, PNC Bank, N.A., Citigroup
      Global Markets, Inc. and Banc of America Securities LLC, as joint lead arrangers
      and joint book managers, the various other agents and arrangers party
      thereto.

    

    “Existing
      Letters of Credit” means the letters of credit described on Schedule
      1.01A.

    

    “FCC”
      means the Federal Communications Commission or any successor commission or
      agency of the United States of America having jurisdiction over the federal
      telecommunications licensing of any Consolidated Party.

    

    “Federal
      Funds Rate” means, for any day, the rate per annum (rounded upward, if
      necessary, to a whole multiple of 1/100 of 1%) equal to the weighted average
      of
      the rates on overnight Federal funds transactions with members of the Federal
      Reserve System arranged by Federal funds brokers on such day, as published
      by
      the Federal Reserve Bank of New York on the Business Day next succeeding such
      day; provided that (a) if such day is not a Business Day, the
      Federal Funds Rate for such day shall be such rate on such transactions on
      the
      next preceding Business Day as so published on the next succeeding Business
      Day,
      and (b) if no such rate is so published on such next succeeding Business
      Day, the Federal Funds Rate for such day shall be the average rate charged
      to
      Bank of America on such day on such transactions as determined by the
      Administrative Agent.

    

    “Fee
      Letters” means a collective reference to (a) the fee letter agreement,
      dated January 12, 2005, among the Borrower, the Administrative Agent
      and Banc of America Securities LLC, and (b) the fee letter agreement, dated
      January 12, 2005, between the Borrower and Credit Suisse First Boston.

    

    “First
      Amendment” means the First Amendment to Credit Agreement dated as of August
      31, 2005 among the Borrower, the Subsidiary Guarantors, the Lenders party
      thereto and the Administrative Agent.

    

    “First
      Amendment Effective Date” means August 31, 2005.

    

    “Foreign
      Lender” means any Lender that is organized under the laws of a jurisdiction
      other than that in which the Borrower is resident for tax purposes. For purposes
      of this definition, the United States, each State thereof and the District
      of
      Columbia shall be deemed to constitute a single jurisdiction.

    

    “Foreign
      Subsidiary” means any Subsidiary of a Consolidated Party that is not a
      Domestic Subsidiary.

    

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

     

     

    
      
         

      

      
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    “Fully
      Satisfied” means, with respect to the Obligations as of any date, that, as
      of such date, (a) all principal of and interest accrued to such date which
      constitute Obligations shall have been paid in full in cash, (b) all fees,
      expenses and other amounts then due and payable which constitute Obligations
      shall have been paid in cash, (c) all outstanding Letters of Credit shall
      have been (i) terminated, (ii) fully Cash Collateralized,
      (iii) secured by one or more letters of credit on terms and conditions, and
      with one or more financial institutions, reasonably satisfactory to the
      applicable L/C Issuer(s) or (iv) continued under a credit facility that in
      part or in whole replaces or refinances this Agreement or otherwise treated
      in a
      manner satisfactory to the applicable L/C Issuer(s), in either case, pursuant
      to
      an arrangement resulting in the simultaneous termination (in a manner
      satisfactory to the Administrative Agent, in its sole discretion) of the
      participations of the Lenders under this Agreement in such Letters of Credit,
      and (d) the Commitments shall have expired or been terminated in
      full.

    

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

    

    “Funded
      Indebtedness” has the meaning assigned to such term in the definition of
      Consolidated Funded Indebtedness in Section 1.01.

    

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

    

    “Governmental
      Approval” means, with respect to any Person, any license, permit, or
      certificate of public convenience and necessity issued to such Person by the
      FCC, any State PUC or any other Governmental Authority in connection with the
      operation of the Businesses.

    

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

    

    “Guarantee”
      means, as to any Person, any (a) any obligation, contingent or otherwise,
      of such Person guaranteeing or having the economic effect of guaranteeing any
      Indebtedness or other obligation payable or performable by another Person (the
      “primary obligor”) in any manner, whether directly or indirectly, and including
      any obligation of such Person, direct or indirect, (i) to purchase or pay
      (or advance or supply funds for the purchase or payment of) such Indebtedness
      or
      other obligation, (ii) to purchase or lease Property, securities or
      services for the purpose of assuring the obligee in respect of such Indebtedness
      or other obligation of the payment or performance of such Indebtedness or other
      obligation, (iii) to maintain working capital, equity capital or any other
      financial statement condition or liquidity or level of income or

     

     

    
      
         

      

      
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    cash
      flow
      of the primary obligor so as to enable the primary obligor to pay such
      Indebtedness or other obligation, or (iv) entered into for the primary
      purpose of assuring in any other manner the obligee in respect of such
      Indebtedness or other obligation of the payment or performance thereof or to
      protect such obligee against loss in respect thereof (in whole or in part),
      or
      (b) any Lien on any assets of such Person securing any Indebtedness or
      other obligation of any other Person, whether or not such Indebtedness or other
      obligation is assumed by such Person (or any right, contingent or otherwise,
      of
      any holder of such Indebtedness to obtain any such Lien). The amount of any
      Guarantee shall be deemed to be an amount equal to the stated or determinable
      amount of the related primary obligation, or portion or limited amount thereof,
      in respect of which such Guarantee is made or, if not stated or determinable,
      the maximum reasonably anticipated liability in respect thereof as determined
      by
      the guaranteeing Person in good faith. The term “Guarantee” as a verb has a
      corresponding meaning.

    

    “Guarantors”
      means a collective reference to the Subsidiaries of the Borrower identified
      as
“Guarantors” on the signature pages hereto, and each other Person that
      subsequently becomes a Guarantor by executing a Joinder Agreement as
      contemplated by Section 7.12, and “Guarantor” means any one
      of them. A list of the Guarantors as of the Closing Date is set forth on
Schedule 1.01B.

    

    “Guaranty”
      means the Guarantee made by the Guarantors in favor of the Administrative Agent
      and the Lenders pursuant to Article IV.

    

    “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.

    

    “Honor
      Date” has the meaning specified in
Section 2.03(c)(i).

    

    “Immaterial
      Subsidiary” means any Subsidiary in respect of which (a) the portion of
      Consolidated Total Assets (determined as of the last day of the most recent
      fiscal year of the Borrower with respect to which the Administrative Agent
      has
      received the Required Financial Information) attributable thereto (on an
      unconsolidated basis) is less than 5% of Consolidated Total Assets as of such
      date or (b) the portion of Consolidated EBITDA (determined as of the last
      day of the most recent fiscal year of the Borrower with respect to which the
      Administrative Agent has received the Required Financial Information for the
      fiscal year ending on such date) attributable thereto (on an unconsolidated
      basis) is less than 5% of Consolidated EBITDA for such fiscal year;
provided, however, the occurrence of any event or condition of the
      types referred in any of subsections (g), (h), (i) or (k) of
Section 9.01 with respect to more than three Immaterial Subsidiaries
      concurrently shall (subject to any applicable grace period) constitute an Event
      of Default notwithstanding any other provision to the contrary set forth in
      this
      Agreement if the portion of Consolidated Total Assets (determined as provided
      above) attributable to all of such Immaterial Subsidiaries taken together would
      constitute more than 15% of Consolidated Total Assets as of the applicable
      date
      or if the portion of Consolidated EBITDA (determined as

     

     

    
      
         

      

      
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     provided
      above) attributable to all of such Immaterial Subsidiaries taken together would
      constitute more than 15% of Consolidated EBITDA for the applicable fiscal
      year

    

    “Incremental
      Facilities” and “Incremental Facility” shall each have the meaning
      specified in Section 11.01(b).

    

    “Indebtedness”
      means, with respect to any Person, without duplication, (a) all obligations
      of such Person for borrowed money, (b) all obligations of such Person
      evidenced by bonds, debentures, notes or similar instruments, (c) all
      obligations of such Person under conditional sale or other title retention
      agreements relating to Property purchased by such Person (other than customary
      reservations or retentions of title under agreements with suppliers entered
      into
      in the ordinary course of business), (d) all obligations of such Person
      issued or assumed as the deferred purchase price of Property or services
      purchased by such Person (other than trade debt incurred in the ordinary course
      of business and due within six months of the incurrence thereof) which would
      appear as liabilities on a balance sheet of such Person, (e) the
      Attributable Indebtedness of such Person with respect to Capital Leases and
      Synthetic Lease Obligations, (f) all net obligations of such Person under
      Swap Contracts, (g) all direct and contingent reimbursement obligations in
      respect of financial letters of credit, including, without duplication, all
      unreimbursed drafts drawn thereunder (less the amount of any cash collateral
      securing any such letters of credit), (h) the principal component or
      liquidation preference of all preferred Capital Stock issued by such Person
      and
      which by the terms thereof could at any time prior to the Maturity Date (other
      than pursuant to a change of control provision that is defined no more broadly
      that the definition of “Change of Control” set forth in Section 1.01) be
      (at the request of the holders thereof or otherwise) subject to mandatory
      sinking fund payments, mandatory redemption or other acceleration, (i) the
      outstanding Attributed Principal Amount under any Permitted Receivables
      Financing, (j) 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, or payable out of the proceeds of production from,
      Property owned or acquired by such Person, whether or not the obligations
      secured thereby have been assumed, (k) all Guarantees of such Person with
      respect to Indebtedness of another Person and (l) the Indebtedness of any
      partnership or unincorporated joint venture in which such Person is a general
      partner or a joint venturer to the extent such Indebtedness is recourse to
      such
      Person. The amount of any net obligation under any Swap Contract on any date
      shall be deemed to be the Swap Termination Value thereof as of such
      date.

    

    “Indemnified
      Taxes” means Taxes, other than Excluded Taxes, arising from any payment or
      obligation hereunder or under any other Loan Document or from the execution,
      delivery or enforcement of, or otherwise with respect to, this Agreement or
      any
      other Loan Document.

    

    “Indemnitee”
      has the meaning specified in Section 11.04(b).

    

    “Information”
      has the meaning specified in Section 11.07.

    

    “Intellectual
      Property” has the meaning specified in
Section 6.17.

    

    “Interest
      Payment Date” means, (a) as to any Loan other than a Base Rate Loan,
      the last day of each Interest Period applicable to such Loan and the Maturity
      Date; provided, however,

     

     

    
      
         

      

      
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    that
      if
      any Interest Period for a Eurodollar Rate Loan exceeds three months, the
      respective dates that fall every three months after the beginning of such
      Interest Period shall also be Interest Payment Dates; and (b) as to any
      Base Rate Loan (including a Swingline Loan), the last Business Day of each
      March, June, September and December and the Maturity
      Date.

    

    “Interest
      Period” means, as to each Eurodollar Rate Loan, the period commencing on the
      date such Eurodollar Rate Loan is disbursed or converted to or continued as
      a
      Eurodollar Rate Loan and ending on the date one, two, three or six months
      thereafter, as selected by the Borrower in its Committed Loan Notice, or such
      other period that is 12 months or less requested by the Borrower and consented
      to by all the Lenders; provided that:

    

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

    

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

    

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

    

    “Investment”
      in any Person means (a) any Acquisition of such Person or its Property,
      (b) any other acquisition of Capital Stock, bonds, notes, debentures,
      partnership, joint ventures or other ownership interests or other securities
      of
      such other Person, (c) any deposit with, or advance, loan or other
      extension of credit to, such Person (other than deposits made in connection
      with
      the purchase of equipment inventory and supplies in the ordinary course of
      business) or (d) any other capital contribution to or investment in such
      Person, including, without limitation, any Guarantee incurred for the benefit
      of
      such Person, but excluding any Restricted Payment to such Person. Investments
      which are capital contributions or purchases of Capital Stock which have a
      right
      to participate in the profits of the issuer thereof or are purchases of other
      Property shall be valued at the amount (or, in the case of any Investment made
      with Property other than cash, the fair market value of such Property) actually
      contributed or paid (including cash and non-cash consideration and any
      assumption of Indebtedness) to purchase such Capital Stock or other Property
      as
      of the date of such contribution or payment less the amount of all returns
      of
      capital in respect of such Investment (including, without limitation, pursuant
      to the Disposition or liquidation of all or part of such Investment) through
      and
      including the date of determination. Investments which are loans, advances,
      extensions of credit or Guarantees shall be valued at the principal amount
      of
      such loan, advance or extension of credit outstanding as of the date of
      determination or, as applicable, the principal amount of the loan or advance
      outstanding as of the date of determination actually guaranteed by such
      Guarantees. An exchange of assets will be deemed not to constitute an
“Investment” to the extent qualifying for like kind treatment under Section 1031
      of the Code.

     

     

    
      
         

      

      
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    “Involuntary
      Disposition” means any loss of, damage to or destruction of, or any
      condemnation or other taking for public use of, any Property of any Consolidated
      Party.

    

    “Involuntary
      Disposition Prepayment Event” means, with respect to any Involuntary
      Disposition, the failure of the Loan Parties to apply (or cause to be applied)
      an amount equal to the Excess Proceeds of such Involuntary Disposition, if
      any, to make Eligible Reinvestments (including but not limited to the
      repair or replacement of the Property affected by such Involuntary Disposition)
      during the Application Period for such Involuntary Disposition, subject to
      the
      terms and conditions of Section 7.07(b).

    

    “IRS”
      means the United States Internal Revenue Service.

    

    “ISP”
      means, with respect to any Letter of Credit, the “International Standby
      Practices 1998” published by the Institute of International Banking Law &
Practice (or such later version thereof as may be in effect at the time of
      issuance).

    

    “Issuer
      Documents” means with respect to any Letter of Credit, the Letter of Credit
      Application, and any other document, agreement and instrument entered into
      by
      the applicable L/C Issuer and the Borrower (or any Subsidiary) or in favor
      the
      applicable L/C Issuer and relating to any such Letter of Credit.

    

    “Joinder
      Agreement” means a Joinder Agreement substantially in the form of
Exhibit E hereto, executed and delivered by a new Guarantor in
      accordance with the provisions of Section 7.12.

    

    “Joint
      Venture” means any corporation, limited liability company, trust, joint
      venture, company or partnership which is not a Subsidiary as of the Closing
      Date
      and in respect which (a) any of the Consolidated Parties makes (or is deemed
      to
      make pursuant to the last paragraph of Section 8.02) an Investment
      after the Closing Date that results in one or more Consolidated Parties holding
      no more than 90% and no less than 10% of the Capital Stock of such
      Person.

    

    “Junior
      Note Documents” means a collective reference to the 2003 83⁄8% Junior Note
      Documents and the 2005 Junior Note Documents.

    

    “Junior
      Notes” means a collective reference to the 2003 83⁄8% Junior Notes and the
      2005 Junior Notes.

    

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

     

     

    
      
         

      

      
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    “L/C
      Advance” means, with respect to each Lender, such Lender’s funding of its
      participation in any L/C Borrowing in accordance with its Applicable
      Percentage.

    

    “L/C
      Borrowing” means an extension of credit resulting from a drawing under any
      Letter of Credit which has not been reimbursed on the date when such drawing
      is
      made or refinanced as a Borrowing of Revolving Loans.

    

    “L/C
      Credit Extension” means, with respect to any Letter of Credit, the issuance
      thereof or extension of the expiry date thereof, or the increase of the amount
      thereof.

    

    “L/C
      Issuer” means each of Bank of America and PNC, each in its capacity as an
      issuer of Letters of Credit hereunder, any Discretionary L/C Issuer, or any
      successor to Bank of America, PNC or any Discretionary L/C Issuer that becomes
      an issuer of Letters of Credit hereunder.

    

    “L/C
      Obligations” means, as at any date of determination, the aggregate amount
      available to be drawn under all outstanding Letters of Credit plus the
      aggregate of all Unreimbursed Amounts, including all L/C Borrowings. For the
      purposes of computing the amount available to be drawn under any Letter of
      Credit, the amount of such Letter of Credit shall be determined in accordance
      with Section 1.06. For all purposes of this Agreement, if on any
      date of determination a Letter of Credit has expired by its terms but any amount
      may still be drawn thereunder by reason of the operation of Rule 3.14 of the
      ISP, such Letter of Credit shall be deemed to be “outstanding” in the amount so
      remaining available to be drawn.

    

    “Lenders”
      means a collective reference to the Persons identified as “Lenders” on the
      signature pages hereto, together with any Person that subsequently becomes
      a
      Lender by way of assignment in accordance with the terms of
Section 11.06, together with their respective successors, other than
      any Person that ceases to be a Lender as a result of an assignment in accordance
      with the terms of Section 11.06 or Section 11.13 or an
      amendment of this agreement in accordance with the terms of
Section 11.01, and “Lender” means any one of them, and, as
      the context requires, includes the Swingline Lender.

    

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

    

    “Letter
      of Credit” means any standby letter of credit issued hereunder and shall
      include the Existing Letters of Credit.

    

    “Letter
      of Credit Application” means an application and agreement for the issuance
      or amendment of a Letter of Credit in the form from time to time in use by
      the
      applicable L/C Issuer.

    

    “Letter
      of Credit Fee” has the meaning specified in
Section 2.03(i).

     

     

    
      
         

      

      
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    “Letter
      of Credit Expiration Date” means the day that is 7 days prior to the
      Maturity Date then in effect (or, if such day is not a Business Day, the next
      preceding Business Day).

    

    “Letter
      of Credit Sublimit” means an amount equal to $40,000,000. The Letter of
      Credit Sublimit is part of, and not in addition to, the Aggregate Revolving
      Commitments.

    

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

    

    “Loan”
      means any extension of credit by a Lender to the Borrower under Article
      II in the form of a Revolving Loan, a Swingline Loan and/or a Tranche B
      Term Loan, as the context may require. The term “Loan” also shall mean,
      as appropriate, (i) any portion of the Revolving Loans bearing interest at
      the same rate of interest and having an Interest Period which begins and ends
      on
      the same date, and (ii) any portion of the Tranche B Term Loan bearing
      interest at the same rate of interest and having an Interest Period which begins
      and ends on the same date.

    

    “Loan
      Documents” means this Agreement, each Note, each Letter of Credit, each
      Issuer Document, each Joinder Agreement, the Collateral Documents and the Fee
      Letters.

    

    “Loan
      Parties” means, collectively, the Borrower and each Guarantor, and “Loan
      Party” means any one of them.

    

    “Material
      Adverse Effect” means (a) a material adverse change in, or a material
      adverse effect upon, the operations, business, properties, liabilities (actual
      or contingent), or condition (financial or otherwise) of the Borrower and its
      Subsidiaries taken as a whole; (b) a material adverse impairment of the
      ability of the Loan Parties, taken as a whole, to perform their material
      obligations under the Loan Documents; or (c) a material adverse effect upon
      the rights or remedies, taken as a whole, of the Administrative Agent or the
      Lenders under the Loan Documents.

    

    “Material
      Contract” means, with respect to any Person, each contract or other
      arrangement to which such Person is a party for which breach, nonperformance,
      cancellation or failure to renew could reasonably be expected to have a Material
      Adverse Effect.

    

    “Maturity
      Date” means (a) as to the Revolving Loans and Letters of Credit (and
      the related L/C Obligations), February 16, 2010 and (b) as to the Tranche B
      Term Loan, August 31, 2012.

    

    “Moody’s”
      means Moody’s Investors Service, Inc. and any successor thereto.

    

    “Multiemployer
      Plan” means any employee benefit plan of the type described in
      Sections 3(37) and 4001(a)(3) of ERISA, to which the Borrower or any ERISA
      Affiliate makes

     

     

    
      
         

      

      
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    or
      is
      obligated to make contributions, or during the preceding five plan years, has
      made or been obligated to make contributions.

    

    “Mutual
      Subsidiaries” means, collectively, (i) Mutual Signal Holding
      Corporation, a Delaware corporation, (ii) Mutual Signal Corporation, a New
      York corporation, (iii) Mutual Signal Corporation of Michigan, a New York
      corporation, and (iv) MSM Associates Limited Partnership, a Delaware
      limited partnership.

    

    “Net
      Cash Proceeds” means the aggregate cash or Cash Equivalents proceeds
      received by any Consolidated Party in respect of any Disposition, Debt Issuance
      or Involuntary Disposition, net of (a) direct costs incurred in connection
      therewith (including, without limitation, legal, accounting and investment
      banking fees, and sales commissions), (b) Taxes paid or payable as a result
      thereof and (c) in the case of any Disposition, the amount necessary to
      retire any Indebtedness secured by a Permitted Lien on the related Property;
      it
      being understood that “Net Cash Proceeds” shall include, without limitation, any
      cash or Cash Equivalents received upon the sale or other disposition of any
      non-cash consideration received by any such Consolidated Party in any
      Disposition, Debt Issuance or Involuntary Disposition. 

    

    “Non-Pledged
      Subsidiaries” means, subject to Section 7.12, (a) the Mutual
      Subsidiaries, (b) the CBT Subsidiaries, (c) Wireless LLC,
      (d) each Subsidiary of an Excluded Subsidiary created or acquired by such
      Excluded Subsidiary after the Closing Date, (e) each Receivables Financing
      SPC, (f) each Subsidiary created or acquired after the Closing Date as a
      Joint Venture, or that becomes a Joint Venture as a result of a permitted
      Disposition, and (g) each other Subsidiary created or acquired after the
      Closing Date in respect of which (i) the Borrower shall have advised the
      Administrative Agent that it would be a violation of applicable law for the
      Capital Stock of such Subsidiary to be pledged or (ii) the Administrative
      Agent shall have determined that the contractual, operational, expense, tax
      or
      regulatory consequences or difficulty of the Capital Stock of such Subsidiary
      being pledged would not, in light of the benefits to accrue to the Lenders,
      justify such pledge, and “Non-Pledged Subsidiary” means any one of
      them.

    

    “Non-Shared
      Collateral Security Agreement” means the Non-Shared Collateral Security and
      Pledge Agreement, dated as of the Closing Date, among the Loan Parties
      signatories thereto and the Collateral Agent.

    

    “Note”
      or “Notes” means the Revolving Notes, the Swingline Note and/or the
      Tranche B Term Notes, individually or collectively, as appropriate.

    

    “Obligations”
      means all advances to, and debts, liabilities, obligations, covenants and duties
      of, any Loan Party arising under (a) any Loan Document with respect to any
      Loan or Letter of Credit, (b) any Secured Hedge Agreement, and (c) all
      obligations under any Treasury Management Agreement between any Loan Party
      and
      any Lender or Affiliate of a Lender, in each case whether direct or indirect,
      absolute or contingent, due or to become due, now existing or hereafter arising
      and including interest, expenses, costs and fees that accrue after the
      commencement by or against any Loan Party or any Affiliate thereof of any
      proceeding under any Debtor Relief Laws naming such Person as the debtor in
      such
      proceeding, regardless of whether such interest and fees are allowed claims
      in
      such proceeding.

     

     

    
      
         

      

      
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    “OECD”
      shall mean the Organisation for Economic Co-operation and Development and its
      successors.

    

    “Operating
      Lease” means, as applied to any Person, any lease (including, without
      limitation, leases which may be terminated by the lessee at any time) of any
      Property (whether real, personal or mixed) which is not a Capital Lease other
      than any such lease in which that Person is the lessor.

    

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

    

    “Other
      Permitted Equity” means any Capital Stock of the Borrower other than common
      stock that (a) is a security that is not guaranteed or secured and ranks
      junior in right of payment to the Obligations, the Senior Notes, the Junior
      Notes and any Subordinated Indebtedness in all respects, (b) has a term
      extending to at least February 28, 2013 and is not mandatorily redeemable or
      putable prior to such date (other than pursuant to a “change of control” that is
      defined no more broadly than the definition of “Change of Control” set forth in
Section 1.01), and (c)  if convertible or exchangeable, is
      convertible or exchangeable into the common stock of the Borrower or other
      Capital Stock of the Borrower satisfying the conditions of clauses (a) and
      (b) of this definition.

    

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

    

    “Outstanding
      Amount” means (a) with respect to Revolving Loans and Swingline Loans
      on any date, the aggregate outstanding principal amount thereof after giving
      effect to any borrowings and prepayments or repayments of Revolving Loans or
      Swingline Loans as the case may be, occurring on such date; and (b) with
      respect to any L/C Obligations on any date, the amount of such L/C Obligations
      on such date after giving effect to any L/C Credit Extension occurring on such
      date and any other changes in the aggregate amount of the L/C Obligations as
      of
      such date, including as a result of any reimbursements by the Borrower of
      Unreimbursed Amounts.

    

    “Participant”
      has the meaning specified in Section 11.06(d).

    

    “PBGC”
      means the United States Pension Benefit Guaranty Corporation.

     

     

    
      
         

      

      
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    “Pension
      Plan” means any “employee pension benefit plan” (as such term is defined in
      Section 3(2) of ERISA), other than a Multiemployer Plan, that is subject to
      Title IV of ERISA and is sponsored or maintained by the Borrower or any
      ERISA Affiliate or to which the Borrower or any ERISA Affiliate contributes
      or
      has an obligation to contribute, or in the case of a multiple employer or other
      plan described in Section 4064(a) of ERISA, has made contributions at any
      time during the immediately preceding five plan years.

    

    “Permitted
      Acquisition” means an Acquisition by the Borrower or any Subsidiary of the
      Borrower permitted pursuant to the terms of
Section 8.02(h).

    

    “Permitted
      Investments” means, at any time, Investments by the Consolidated Parties
      permitted to exist at such time pursuant to the terms of
Section 8.02.

    

    “Permitted
      Liens” means, at any time, Liens in respect of Property of the Consolidated
      Parties permitted to exist at such time pursuant to the terms of
Section 8.01.

    

    “Permitted
      Preferred Stock” means the 63⁄4% Cumulative Convertible Preferred Stock of the
      Borrower.

    

    “Permitted
      Receivables Financing” means any transaction or series of transactions that
      may be entered into by the Borrower or any Subsidiary pursuant to which it
      may
      sell, convey, contribute to capital or otherwise transfer (which sale,
      conveyance, contribution to capital or transfer may include or be supported
      by
      the grant of a security interest) Transferred Assets (a) to any Receivables
      Financier, which transfer is funded in whole or in part, directly or indirectly,
      by the incurrence or issuance by the transferee or any successor transferee
      of
      Indebtedness, fractional undivided interests or other securities that are to
      receive payments from, or that represent interests in, the cash flow derived
      from such Transferred Assets or interests in such Transferred Assets, or
      (b) directly to one or more investors or other purchasers (other than the
      Borrower or any Subsidiary), it being understood that a Permitted Receivables
      Financing may involve (i) one or more sequential transfers or pledges of the
      same Transferred Assets, or interests therein, e.g., a sale, conveyance
      or other transfer to a Receivables Financing SPC followed by a pledge of the
      Transferred Assets to secure Indebtedness incurred by the Receivables Financing
      SPC, and all such transfers, pledges and Indebtedness incurrences shall be
      part
      of and constitute a single Permitted Receivables Financing, and (ii) periodic
      transfers or pledges of Transferred Assets and/or revolving transactions in
      which new Transferred Assets, or interests therein, are transferred or pledged
      upon collection of previously transferred or pledged Transferred Assets, or
      interests therein, provided that any such transactions shall provide for
      recourse to such Subsidiary (other than any Receivables Financing SPC) or the
      Borrower (as applicable) only in respect of the cash flows in respect of such
      Transferred Assets and to the extent of other customary securitization
      undertakings in the United States, and provided further that
      the aggregate Attributed Principal Amount for all Permitted Receivables
      Financings at any time outstanding shall not exceed $150,000,000.

    

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

     

     

    
      
         

      

      
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    “Platform”
      has the meaning specified in Section 7.02.

    

    “PNC”
      means PNC Bank, National Association and its successors.

    

    “Principal
      Amortization Payment” means a principal payment on the Tranche B Term
      Loan as set forth in Section 2.07(c).

    

    “Pro
      Forma Basis” means, in connection with the calculation as of the applicable
      Calculation Date (utilizing the principles set forth in
Section 1.03(c)) of the financial covenants set forth in
Section 8.11(a)-(d) and/or of the Consolidated Senior
      Secured Leverage Ratio for the purposes of Section 8.06(d) and/or
Section 8.12(b) in respect of a proposed transaction (a
“Specified Transaction”) as of the date on which such Specified
      Transaction is to be effected, the making of such calculation after giving
      effect on a pro forma basis to:

    

    (a) the
      consummation of such Specified Transaction as of the first day of the applicable
      Calculation Period;

    

    (b) the
      assumption, incurrence or issuance of any Indebtedness by any of the
      Consolidated Parties (including any Person which became a Subsidiary pursuant
      to
      or in connection with such Specified Transaction) in connection with such
      Specified Transaction, as if such Indebtedness had been assumed, incurred or
      issued (and the proceeds thereof applied) on the first day of such Calculation
      Period (with any such Indebtedness bearing interest at a floating rate being
      deemed to have an implied rate of interest for the applicable period equal
      to
      the rate which is or would be in effect with respect to such Indebtedness as
      of
      the applicable Calculation Date);

    

    (c) the
      permanent repayment, retirement or redemption of any Indebtedness (other than
      revolving Indebtedness, except to the extent accompanied by a permanent
      commitment reduction) by any of the Consolidated Parties (including any Person
      which became a Subsidiary pursuant to or in connection with such Specified
      Transaction) in connection with such Specified Transaction, as if such
      Indebtedness had been repaid, retired or redeemed on the first day of such
      Calculation Period;

    

    (d) other
      than in connection with such Specified Transaction, any assumption, incurrence
      or issuance of any Indebtedness (other than Indebtedness in an aggregate amount
      not to exceed $10,000,000 which may be disregarded for purposes of this
      paragraph (d)) by any of the Consolidated Parties after the first day of
      the applicable Calculation Period, as if such Indebtedness had been assumed,
      incurred or issued (and the proceeds thereof applied) on the first day of such
      Calculation Period (with any such Indebtedness bearing interest at a floating
      rate being deemed to have an implied rate of interest for the applicable period
      equal to the weighted average of the interest rates actually in effect with
      respect to such Indebtedness during the portion of such period that such
      Indebtedness was outstanding); and

     

     

    
      
         

      

      
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    (e) other
      than in connection with such Specified Transaction, the permanent repayment,
      retirement or redemption of any Indebtedness (other than revolving Indebtedness,
      except to the extent accompanied by a permanent commitment reduction and other
      than other Indebtedness in an aggregate amount not to exceed $10,000,000 which
      may be disregarded for purposes of this paragraph (e)) by any of the
      Consolidated Parties after the first day of the applicable Calculation Period,
      as if such Indebtedness had been repaid, retired or redeemed on the first day
      of
      such Calculation Period.

    

    “Pro
      Forma Compliance Certificate” means a certificate of a Responsible Officer
      of the Borrower delivered to the Administrative Agent in connection with
      Specified Transaction, such certificate to contain reasonably detailed
      calculations satisfactory to the Administrative Agent, upon giving effect to
      the
      applicable Specified Transaction on a Pro Forma Basis, of the financial
      covenants set forth in Section 8.11(a)-(d) for
      the applicable Calculation Period.

    

    “Property”
      means any interest in any kind of property or asset, whether real, personal
      or
      mixed, or tangible or intangible.

    

    “Public
      Lenders” has the meaning specified in Section 7.02.

    

    “Real
      Properties” means, at any time, a collective reference to each of the
      facilities and real Properties owned, leased or operated by the Consolidated
      Parties at such time.

    

    “Receivables
      Financier” means any Person that is not the Borrower or any Subsidiary or
      Affiliate of the Borrower (other than a Receivables Financing SPC).

    

    “Receivables
      Financing SPC” shall mean, in respect of any Permitted Receivables
      Financing, any Subsidiary or Affiliate of the Borrower to which any Consolidated
      Party sells, contributes or otherwise conveys any Transferred Assets in
      connection with such Permitted Receivables Financing.

    

    “Register”
      has the meaning specified in Section 11.06(c).

    

    “Registered
      Public Accounting Firm” has the meaning specified in the Securities Laws and
      shall be independent of the Borrower as prescribed by the Securities
      Laws.

    

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

    

    “Remaining
      Present Value” means, as of any date with respect to any lease, the present
      value as of such date of the scheduled future lease payments with respect to
      such lease, determined with a discount rate equal to a market rate of interest
      for such lease, as reasonably determined by the Borrower at the time such lease
      is entered into.

    

    “Reportable
      Event” means any of the events set forth in Section 4043(c) of ERISA,
      other than events for which the 30-day notice period has been
      waived.

    
 

    
      
         

      

      
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    “Request
      for Credit Extension” means (a) with respect to a Committed Borrowing,
      conversion or continuation of Committed Loans, a Committed Loan Notice,
      (b) with respect to an L/C Credit Extension, a Letter of Credit
      Application, and (c) with respect to a Swingline Loan, a Swingline Loan
      Notice.

    

    “Required
      Financial Information” means, with respect to each fiscal period or quarter
      of the Borrower, (a) the financial statements required to be delivered
      pursuant to subsection (a) or (b) of Section 7.01 for such
      fiscal period or quarter, and (b) the certificate of a Responsible Officer
      of the Borrower required by Section 7.02(b) to be delivered with the
      financial statements described in clause (a) above.

    

    “Required
      Lenders” means, at any time, Lenders holding in the aggregate more than 50%
      of (a) the unfunded Commitments (and participations therein) and the
      outstanding Loans, L/C Obligations and participations therein or (b) if the
      Commitments have been terminated, the outstanding Loans, L/C Obligations and
      participations therein. The unfunded Commitments of, and the outstanding Loans,
      L/C Obligations and participations therein held or deemed held by, any
      Defaulting Lender shall be excluded for purposes of making a determination
      of
      Required Lenders.

    

    “Responsible
      Officer” means the chief executive officer, president, chief financial
      officer, principal accounting officer, treasurer or assistant treasurer of
      a
      Loan Party (or the equivalent of any of the foregoing). Any document delivered
      hereunder that is signed by a Responsible Officer of a Loan Party shall be
      conclusively presumed to have been authorized by all necessary corporate,
      partnership and/or other action on the part of such Loan Party and such
      Responsible Officer shall be conclusively presumed to have acted on behalf
      of
      such Loan Party.

    

    “Restricted
      Payment” means, with respect to any Person, (a) any dividend or other
      payment or distribution, direct or indirect, on account of any shares of any
      class of Capital Stock of such Person, now or hereafter outstanding (including
      without limitation any payment in connection with any dissolution, merger,
      consolidation or disposition involving any Consolidated Party), or to the
      holders, in their capacity as such, of any shares of any class of Capital Stock
      of such Person, now or hereafter outstanding, (b) any redemption,
      retirement, sinking fund or similar payment, purchase or other acquisition
      for
      value, direct or indirect, of any shares of any class of Capital Stock of such
      Person, now or hereafter outstanding, and (c) any payment made to retire,
      or to obtain the surrender of, any outstanding warrants, options or other rights
      to acquire shares of any class of Capital Stock of such Person, now or hereafter
      outstanding; provided that no such dividend, distribution, redemption,
      retirement, acquisition or other payment shall constitute a “Restricted Payment”
to the extent made solely with the Capital Stock of such Person.

    

    “Revolving
      Commitment” means, as to each Lender, its obligation to (a) make
      Revolving Loans to the Borrower pursuant to Section 2.01,
      (b) purchase participations in L/C Obligations and (c) purchase
      participations in Swingline Loans, in an aggregate principal amount at any
      one
      time outstanding not to exceed the amount set forth opposite such Lender’s name
      on Schedule 2.01 or in the Assignment and Assumption pursuant to
      which such Lender becomes a

     

     

    
      
         

      

      
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    party
      hereto, as applicable, as such amount may be adjusted from time to time in
      accordance with this Agreement.

     

    “Revolving
      Loan” has the meaning specified in Section 2.01.

    

    “Revolving
      Note” has the meaning specified in Section 2.11(a).

    

    “S&P”
      means Standard & Poor’s Ratings Services, a division of The McGraw-Hill
      Companies, Inc. and any successor thereto.

    

    “Sale
      and Leaseback Transaction” means any arrangement pursuant to which any
      Consolidated Party, directly or indirectly, becomes liable as lessee, guarantor
      or other surety with respect to any lease, whether an Operating Lease or a
      Capital Lease, of any Property (a) which such Consolidated Party has sold
      or transferred (or is to sell or transfer) to a Person which is not a
      Consolidated Party and (b) which such Consolidated Party intends to use for
      substantially the same purpose as any other Property which has been
      substantially contemporaneously sold or transferred (or is to be sold or
      transferred) by such Consolidated Party to another Person which is not a
      Consolidated Party.

    

    “SEC”
      means the Securities and Exchange Commission, or any Governmental Authority
      succeeding to any of its principal functions.

    

    “Secured
      Hedge Agreement” means any Swap Contract of a Loan Party that (a) is in
      effect on the Closing Date with a counterparty that is a Lender or an Affiliate
      of a Lender as of the Closing Date or (b) is entered into after the Closing
      Date with a counterparty that is a Lender or an Affiliate of a Lender at the
      time such Swap Contract is entered into.

    

    “Securities
      Laws” means the Securities Act of 1933, the Securities Exchange Act of 1934,
      the Sarbanes-Oxley Act of 2002 and the applicable accounting and auditing
      principles, rules, standards and practices promulgated, approved or incorporated
      by the SEC or the Public Company Accounting Oversight Board, as each of the
      foregoing may be amended and in effect on any applicable date
      hereunder.

    

    “Security
      Agreements” means a collective reference to the Non-Shared Collateral
      Security Agreement and the Shared Collateral Security Agreement.

    

    “Senior
      Note Documents” means a collective reference to the 1993 Senior Note
      Documents, the 2003 Senior Note Documents and the 2005 Senior Note
      Documents.

    

    “Senior
      Note Indentures” means a collective reference to the 1993 Senior Note
      Indenture, the 2003 Senior Note Indenture and the 2005 Senior Note Indenture,
      and “Senior Note Indenture” means any one of them.

    

    “Senior
      Notes” means a collective reference to the 1993 Senior Notes, the 2003
      Senior Notes and the 2005 Senior Notes.

     

     

    
      
         

      

      
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    “Shared
      Collateral Security Agreement” means the Shared Collateral Security and
      Pledge Agreement, dated as of the Closing Date, among the Borrower and the
      Collateral Agent.

    

    “Solvent”
      or “Solvency” means, with respect to any Person as of a particular date,
      that on such date (a) such Person is able to pay its debts and other
      liabilities, contingent obligations and other commitments as they mature in
      the
      ordinary course of business, (b) such Person does not intend to, and does
      not believe that it will, incur debts or liabilities beyond such Person’s
      ability to pay as such debts and liabilities mature in their ordinary course,
      (c) such Person is not engaged in a business or a transaction, and is not
      about to engage in a business or a transaction, for which such Person’s Property
      would constitute unreasonably small capital after giving due consideration
      to
      the prevailing practice in the industry in which such Person is engaged or
      is to
      engage, (d) the fair value of the Property of such Person is greater than
      the total amount of liabilities, including, without limitation, contingent
      liabilities, of such Person and (e) the present fair salable value of the
      assets of such Person is not less than the amount that will be required to
      pay
      the probable liability of such Person on its debts as they become absolute
      and
      matured. In computing the amount of contingent liabilities at any time, it
      is
      intended that such liabilities will be computed at the amount which, in light
      of
      all the facts and circumstances existing at such time, represents the amount
      that can reasonably be expected to become an actual or matured
      liability.

    

    “Specified
      Transaction” shall have the meaning assigned to such term in the definition
      of “Pro Forma Basis” set forth in this Section 1.01.

    

    “Spectrum
      Assets” means any spectrum license granted by the FCC.

    

    “State
      PUC” means any state Governmental Authority having utility or communications
      regulatory authority over any Consolidated Party, or any applicable successor
      agency.

    

    “Subordinated
      Indebtedness” means, collectively, (a) Indebtedness arising under the
      2003 83⁄8 Junior Note Indenture and the Junior Notes, and (b) any other
      Indebtedness of any of the Consolidated Parties which by its terms is
      subordinated in right of payment to the Obligations on terms, taken as a whole,
      no less favorable to the Lenders in any material respect than those set forth
      in
      the 2003 83⁄8% Junior Note Indenture, as in effect on the Closing
      Date.

    

    “Subsidiary”
      of a Person means a corporation, partnership, joint venture, limited liability
      company or other business entity of which a majority of the shares of Capital
      Stock having ordinary voting power for the election of directors or other
      governing body (other than Capital Stock having such power only by reason of
      the
      happening of a contingency) are at the time beneficially owned, or the
      management of which is otherwise controlled, directly, or indirectly through
      one
      or more intermediaries, or both, by such Person. Unless otherwise specified,
      all
      references herein to a “Subsidiary” or to “Subsidiaries” shall refer to a
      Subsidiary or Subsidiaries of the Borrower.

    

    “Swap
      Contract” means any and all rate swap transactions, basis swaps, credit
      derivative transactions, forward rate transactions, commodity swaps, commodity
      options, forward commodity contracts, equity or equity index swaps or options,
      bond or bond price or bond index swaps or options or forward bond or forward
      bond price or forward bond index transactions,

     

    
      
         

      

      
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    interest
      rate options, forward foreign exchange transactions, cap transactions, floor
      transactions, collar transactions, currency swap transactions, cross-currency
      rate swap transactions, currency options, spot contracts, or any other similar
      transactions or any combination of any of the foregoing (including any options
      to enter into any of the foregoing), whether or not any such transaction is
      governed by or subject to any master agreement.

    

    “Swap
      Termination Value” means, in respect of any one or more Swap Contracts,
      after taking into account the effect of any netting agreement relating to such
      Swap Contracts, (a) for any date on or after the date such Swap Contracts
      have been closed out and termination value(s) determined in accordance
      therewith, such termination value(s), and (b) for any date prior to the
      date referenced in clause (a), the amount(s) determined as the
      mark-to-market value(s) for such Swap Contracts, as determined based upon one
      or
      more mid-market or other readily available quotations provided by any recognized
      dealer in such Swap Contracts (which may include a Lender or any Affiliate
      of a
      Lender).

    

    “Swingline”
      means the revolving credit facility made available by the Swingline Lender
      pursuant to Section 2.04.

    

    “Swingline
      Borrowing” means a borrowing of a Swingline Loan pursuant to
Section 2.04.

    

    “Swingline
      Lender” means PNC, in its capacity as provider of Swingline Loans, or any
      successor Swingline lender hereunder.

    

    “Swingline
      Loan” has the meaning specified in Section 2.04(a).

    

    “Swingline
      Loan Notice” means a notice of a Swingline Borrowing pursuant to
Section 2.04(b), which, if in writing, shall be substantially in the
      form of Exhibit B.

    

    “Swingline
      Note” has the meaning specified in Section 2.04(g).

    

    “Swingline
      Sublimit” means an amount equal to the lesser of (a) $25,000,000 and
      (b) the Aggregate Revolving Commitments. The Swingline Sublimit is part of,
      and not in addition to, the Aggregate Revolving Commitments.

    

    “Synthetic
      Lease Obligation” means the monetary obligation of a Person under a
      so-called synthetic, off-balance sheet or tax retention lease, including,
      without limitation, any financing lease or other agreement for the use or
      possession of Property creating obligations that do not appear on the balance
      sheet of such Person but which are characterized as the indebtedness of such
      Person for U.S. tax purposes (without regard to accounting
      treatment).

    

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

    

    “Threshold
      Amount” means $35,000,000.

     

     

    
      
         

      

      
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    “Total
      Revolving Outstandings” means the aggregate Outstanding Amount of all
      Revolving Loans, all Swingline Loans and all L/C Obligations.

    

    “Tranche B
      Term Loan” has the meaning specified in
Section 2.01(b).

    

    “Tranche B
      Term Loan
      Commitment” means, as to each Lender, its obligation to make its portion of
      the Tranche B Term Loan to the Borrower pursuant to
Section 2.01(b), in the principal amount set forth opposite such
      Lender’s name on Schedule 2.01. The aggregate principal amount of
      the Tranche B Term Loan Commitments of all of the Lenders as in effect on the
      First Amendment Effective Date is FOUR HUNDRED MILLION DOLLARS ($400,000,000).
      

    

    “Tranche
      B Term Note” has the meaning specified in
Section 2.11(a).

    

    “Transferred
      Assets” means any accounts receivable, notes receivable, rights to future
      lease payments or residuals (collectively, the “Receivables”) owed to or
      owned by the Borrower or any Subsidiary (whether now existing or arising or
      acquired in the future), all collateral securing such Receivables, all contracts
      and contract rights, purchase orders, security interests, financing statements
      or other documentation in respect of such Receivables and all guarantees or
      other obligations in respect of such Receivables, all proceeds of such
      Receivables and other assets which are of the type customarily granted or
      transferred in connection with securitization transactions involving receivables
      similar to such Receivables.

    

    “Treasury
      Management Agreement” means any agreement governing the provision of
      treasury or cash management services, including deposit accounts, funds
      transfer, automated clearinghouse, zero balance accounts, returned check
      concentration, controlled disbursement, lockbox, account reconciliation and
      reporting and trade finance services.

    

    “Type”
      means, with respect to any Revolving Loan or Tranche B Term Loan, its character
      as a Base Rate Loan or a Eurodollar Rate Loan.

    

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

    

    “Unreimbursed
      Amount” has the meaning specified in
Section 2.03(c)(i).

    

    “Wholly
      Owned Subsidiary” means, with respect to any Person, any other Person 100%
      of whose Capital Stock (other than directors; qualifying shares or nominee
      or
      other similar shares required pursuant to applicable Laws) is at the time owned
      by such Person directly or indirectly through other Persons 100% of whose
      Capital Stock (other than directors; qualifying shares or nominee or other
      similar shares required pursuant to applicable Laws) is at the time owned,
      directly or indirectly, by such Person.

    

    “Wireless
      Acquisition” means the acquisition by the Borrower or another Loan Party (or
      Person that becomes a Loan Party contemporaneously with the consummation of
      such

     

     

    
      
         

      

      
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    acquisition)
      of the Capital Stock of Wireless LLC from Cingular pursuant to the Wireless
      Acquisition Agreement.

    

    “Wireless
      Acquisition Agreement” means an agreement entered into by the Borrower or
      one or more other Loan Parties pursuant to which such Person(s) has(ve) the
      right to acquire any or all of the Capital Stock of Wireless LLC that is
      not held by Wireless Holdco.

    

    “Wireless
      Co.” means Cincinnati Bell Wireless Company, an Ohio corporation and a
      Wholly Owned Subsidiary of the Borrower.

    

    “Wireless
      Disposition” means the (a) any Disposition of all or any portion of the
      Capital Stock of Wireless LLC held by the Consolidated Parties and/or all or
      any
      portion of the Property of Wireless LLC or (b) the contribution by the
      Consolidated Parties of all or part of the Capital Stock of Wireless LLC and/or
      all or any portion of the Property of Wireless LLC to a new wireless Joint
      Venture.

    

    “Wireless
      Holdco” means Cincinnati Bell Wireless Holdings LLC, a Delaware limited
      liability company and a Wholly Owned Subsidiary of Wireless Co.

    

    “Wireless LLC”
      means Cincinnati Bell Wireless LLC, an Ohio limited liability company and a
      direct Subsidiary of Wireless Holdco.

    

    1.02 Other
      Interpretive Provisions.

    

    With
      reference to this Agreement and each other Loan Document, unless otherwise
      specified herein or in such other Loan Document:

    

    (a) 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, (i) any definition of or reference to any
      agreement, instrument or other document (including any Organization Document)
      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
      or in any other Loan Document), (ii) any reference herein to any Person
      shall be construed to include such Person’s successors and assigns,
      (iii) the words “herein,” “hereof” and “hereunder,”
and words of similar import when used in any Loan Document,
      shall be construed
      to refer to such Loan Document in its entirety and not to any particular
      provision thereof, (iv) all references in a Loan Document to Articles,
      Sections, Exhibits and Schedules shall be construed to refer to Articles and
      Sections of, and Exhibits and Schedules to, the Loan Document in which such
      references appear, and (v) any reference to any law shall include all
      statutory and regulatory provisions consolidating, amending, replacing or
      interpreting such law and any reference to any law or regulation shall, unless
      otherwise

     

     

    
      
         

      

      
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    specified,
      refer to such law or regulation as amended, modified or supplemented from time
      to time.

    

    (b) In
      the computation of periods of time from a specified date to a later specified
      date, the word “from” means “from and including;” the words
“to” and “until” each mean “to but excluding;” and the word
“through” means “to and including.”

    

    (c) Section headings
      herein and in the other Loan Documents are included for convenience of reference
      only and shall not affect the interpretation of this Agreement or any other
      Loan
      Document.

    

    1.03 Accounting
      Terms.

    

    (a) Generally.
      Except as otherwise specifically prescribed herein, all accounting terms not
      specifically defined herein shall be construed in conformity with, and all
      financial data (including financial ratios and other financial calculations)
      required to be submitted pursuant to this Agreement shall be prepared in
      conformity with, GAAP applied on a consistent basis, as in effect from time
      to
      time, applied in a manner consistent with that used in preparing the Audited
      Financial Statements (with such changes as may be approved by the Borrower’s
      accountants, subject to subsection (b) of this Section 1.03);
provided, however, that calculations of Attributable Indebtedness
      under any Synthetic Lease Obligations or the implied interest component of
      any
      Synthetic Lease Obligations shall be made by the Borrower in accordance with
      accepted financial practice and consistent with the terms of such Synthetic
      Lease Obligations.

    

    (b) Changes
      in GAAP. If at any time any change in GAAP would affect the computation of
      any financial ratio or requirement set forth in any Loan Document, the
      application of any representation or warranty or any other provision hereof
      and
      either the Borrower or the Required Lenders shall so request, the Administrative
      Agent, the Lenders and the Borrower shall negotiate in good faith to amend
      such
      ratio or requirement to preserve the original intent thereof in light of such
      change in GAAP (subject to the approval of the Required Lenders);
provided that, if any party shall so request, then until so
      amended, (i) such ratio or requirement shall continue to be computed in
      accordance with GAAP prior to such change therein and (ii) the Borrower
      shall provide to the Administrative Agent and the Lenders financial statements
      and other documents required under this Agreement or as reasonably requested
      hereunder setting forth a reconciliation between calculations of such ratio
      or
      requirement made before and after giving effect to such change in
      GAAP.

    

    (c) Effect
      of Dispositions and Acquisitions. Notwithstanding the
      above, the parties hereto acknowledge and agree that, for purposes of all
      calculations made under the financial covenants set forth in
Section 8.11 (including without limitation for purposes of the
      definitions of “Applicable Rate” and “Pro Forma Basis” set forth in
Section 1.01), (i) after consummation of any Disposition of any
      Subsidiary or business or line of business (other than Dispositions for
      consideration in an aggregate amount for all such Disposition not to exceed
      $50,000,000) (A) income statement items (whether positive or negative) and
      capital expenditures attributable to the Property disposed
      of shall be excluded and (B) Indebtedness which is retired shall be
      excluded and deemed to have been retired as of the first day of the applicable
      period and (ii) after

     

     

    
      
         

      

      
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    consummation
      of any Acquisition of any Subsidiary or business or line of business (other
      than
      Acquisitions for consideration in an aggregate amount for all such Acquisitions
      not to exceed $50,000,000) (A) income statement items (whether positive or
      negative) and capital expenditures attributable to the Person
      or Property acquired shall, to the extent not otherwise included in such income
      statement items for the Consolidated Parties in accordance with GAAP or in
      accordance with any defined terms set forth in Section 1.01, be included to
      the extent relating to any period applicable in such calculations, (B) to
      the extent not retired in connection with such Acquisition, Indebtedness of
      the
      Person or Property acquired shall be deemed to have been incurred as of the
      first day of the applicable period and (C) pro forma
      adjustments may be included to the extent that such adjustments would give
      effect to items that are (1) directly attributable to such transaction,
      (2) expected to have a continuing impact on the Consolidated Parties and
      (3) factually supportable.

    

    1.04 Rounding.

    

    Any
      financial ratios required to be maintained by the Borrower pursuant to this
      Agreement shall be calculated by dividing the appropriate component by the
      other
      component, carrying the result to one place more than the number of places
      by
      which such ratio is expressed herein and rounding the result up or down to
      the
      nearest number within the number of places by which such ratio is expressed
      herein (with a rounding-up if there is no nearest number).

    

    1.05 Times
      of Day.

    

    Unless
      otherwise specified, all references herein to times of day shall be references
      to Eastern time (daylight or standard, as applicable).

    

    1.06 Letter
      of Credit Amounts.

    

    Unless
      otherwise specified herein, the amount of a Letter of Credit at any time shall
      be deemed to be the stated amount of such Letter of Credit in effect at such
      time; provided, however, that with respect to any Letter of Credit
      that, by its terms or the terms of any Issuer Document related thereto, provides
      for one or more automatic increases in the stated amount thereof, the amount
      of
      such Letter of Credit shall be deemed to be the maximum stated amount of such
      Letter of Credit after giving effect to all such increases, whether or not
      such
      maximum stated amount is in effect at such time.

    

    

    ARTICLE
      II

    THE
      COMMITMENTS AND CREDIT EXTENSIONS

    

    2.01 Committed
      Loans.

    

    (a) Revolving
      Loans. Subject to the terms and conditions set forth herein, each Lender
      having a Revolving Commitment severally agrees to make loans (each such loan,
      a
“Revolving Loan”) to the Borrower from time to time, on any Business Day
      during the Availability Period, in an aggregate amount not to exceed at any
      time
      outstanding the amount of

     

     

    
      
         

      

      
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    such
      Lender’s Revolving Commitment; provided, however, that after
      giving effect to any Borrowing of Revolving Loans, (i) the Total Revolving
      Outstandings shall not exceed the Aggregate Revolving Commitments, and
      (ii) the aggregate Outstanding Amount of the Revolving Loans of any Lender,
plus such Lender’s Applicable Percentage of the Outstanding Amount of all
      L/C Obligations, plus such Lender’s Applicable Percentage of the Outstanding
      Amount of all Swingline Loans shall not exceed such Lender’s Revolving
      Commitment. Within the limits of each Lender’s Revolving Commitment, and subject
      to the other terms and conditions hereof, the Borrower may borrow under this
      Section 2.01, prepay under Section 2.05(a), and reborrow
      under this Section 2.01. Revolving Loans may be Base Rate Loans or
      Eurodollar Rate Loans, as further provided herein.

    

    (b) Tranche B
      Term Loan. Subject to the terms and conditions set forth herein, each Lender
      having a Tranche B Term Loan Commitment as of the First Amendment Effective
      Date
      agrees to make its portion of a term loan (the “Tranche B Term Loan”) to
      the Borrower on the First Amendment Effective Date in an amount equal to such
      Lender’s Tranche B Term Loan Commitment. Amounts repaid on the Tranche B
      Term Loan may not be reborrowed. The Tranche B Term Loan may consist of
      Base Rate Loans or Eurodollar Rate Loans, as further provided
      herein.

    

    2.02 Borrowings,
      Conversions and Continuations of Committed
      Loans.

    

    (a) Each
      Committed Borrowing, each conversion of Committed Loans from one Type to the
      other, and each continuation of Eurodollar Rate Loans shall be made upon the
      irrevocable notice from the Borrower to the Administrative Agent, which may
      be
      given by telephone (provided that such telephonic notice complies with the
      information requirements of the form of Committed Loan Notice attached hereto).
      Each such notice must be received by the Administrative Agent not later than
      11:00 a.m. (i) three Business Days prior to the requested date of any
      Borrowing of, conversion to or continuation of Eurodollar Rate Loans, and
      (ii) on the requested date of any Borrowing of Base Rate Committed Loans;
provided that if the Borrower wishes to request Eurodollar Rate
      Loans having an Interest Period other than one, two, three or six months in
      duration as provided in the definition of “Interest Period,” the applicable
      notice must be received by the Administrative Agent not later than 11:00 a.m.
      four Business Days prior to the requested date of such Borrowing, conversion
      or
      continuation, whereupon (x) the Administrative Agent shall give prompt
      notice to the Lenders of such request and determine whether the requested
      Interest Period is acceptable to all of them, and (y) not later than 11:00
      a.m., three Business Days before the requested date of such Borrowing,
      conversion or continuation, the Administrative Agent shall notify the Borrower
      (which notice may be by telephone) whether or not the requested Interest Period
      has been consented to by all the Lenders. Each telephonic notice by the Borrower
      pursuant to this Section 2.02(a) must be confirmed promptly by
      delivery to the Administrative Agent of a written Committed Loan Notice,
      appropriately completed and signed by a Responsible Officer of the Borrower.
      Each Borrowing of, conversion to or continuation of Eurodollar Rate Loans shall
      be in a principal amount of $5,000,000 or a whole multiple of $1,000,000 in
      excess thereof. Except as provided in Section 2.03(c) and
Section 2.04(c), each Borrowing of or conversion to Base Rate
      Committed Loans shall be in a principal amount of $500,000 or a whole multiple
      of $100,000 in excess thereof. Each Committed Loan Notice (whether telephonic
      or
      written) shall specify (i) whether

     

     

    
      
         

      

      
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    the
      Borrower is requesting a Committed Borrowing, a conversion of Committed Loans
      from one Type to the other, or a continuation of Eurodollar Rate Loans,
      (ii) the requested date of the Borrowing, conversion or continuation, as
      the case may be (which shall be a Business Day), (iii) the principal amount
      of Committed Loans to be borrowed, converted or continued, (iv) the Type of
      Committed Loans to be borrowed or to which existing Committed Loans are to
      be
      converted, and (v) if applicable, the duration of the Interest Period with
      respect thereto. If the Borrower fails to specify a Type of Committed Loan
      in a
      Committed Loan Notice or if the Borrower fails to give a timely notice
      requesting a conversion or continuation, then the applicable Committed Loans
      shall be made as, or converted to, Base Rate Loans. Any such automatic
      conversion to Base Rate Loans shall be effective as of the last day of the
      Interest Period then in effect with respect to the applicable Eurodollar Rate
      Loans. If the Borrower requests a Borrowing of, conversion to, or continuation
      of Eurodollar Rate Loans in any such Committed Loan Notice, but fails to specify
      an Interest Period, it will be deemed to have specified an Interest Period
      of
      one month. Notwithstanding the foregoing, all Borrowings of the Tranche B Term
      Loan made on the First Amendment Effective Date shall be made as Base Rate
      Loans.

    

    (b) Following
      receipt of a Committed Loan Notice, the Administrative Agent shall promptly
      notify each Lender of the amount of its Applicable Percentage of the applicable
      Committed Loans, and if no timely notice of a conversion or continuation is
      provided by the Borrower, the Administrative Agent shall notify each Lender
      of
      the details of any automatic conversion to Base Rate Loans described in the
      preceding subsection. In the case of a Committed Borrowing, each Lender shall
      make the amount of its Committed Loan available to the Administrative Agent
      in
      immediately available funds at the Administrative Agent’s Office not later than
      1:00 p.m. on the Business Day specified in the applicable Committed Loan
      Notice. Upon satisfaction of the applicable conditions set forth in
Section 5.02 (and, if such Borrowing is the initial Credit
      Extension, Section 5.01), the Administrative Agent shall make all
      funds so received available to the Borrower in like funds as received by the
      Administrative Agent either by (i) crediting the account of the Borrower on
      the books of Bank of America with the amount of such funds or (ii) wire
      transfer of such funds, in each case in accordance with instructions provided
      to
      (and reasonably acceptable to) the Administrative Agent by the Borrower;
provided, however, that if, on the date a Committed Loan Notice
      with respect to a Borrowing consisting of Revolving Loans is given by the
      Borrower, there are L/C Borrowings outstanding, then the proceeds of such
      Borrowing first shall be applied to the payment in full of any such L/C
      Borrowings, and second, shall be made available to the Borrower as provided
      above.

    

    (c) Subject
      to Section 3.05, a Eurodollar Rate Loan may be continued or
      converted only on the last day of an Interest Period for such Eurodollar Rate
      Loan. During the existence of a Default, no Loans may be requested as, converted
      to or continued as Eurodollar Rate Loans having Interest Periods greater than
      one month without the consent of the Required Lenders. During the existence
      of
      an Event of Default, no Loans may be converted to or continued as Eurodollar
      Rate Loans without the consent of the Required Lenders.

    

    (d) The
      Administrative Agent shall promptly notify the Borrower and the Lenders of
      the
      interest rate applicable to any Interest Period for Eurodollar Rate Loans upon
      determination of such interest rate. At any time that Base Rate Loans are
      outstanding, the Administrative

     

    
      
         

      

      
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    Agent
      shall notify the Borrower and the Lenders of any change in Bank of America’s
      prime rate used in determining the Base Rate promptly following the public
      announcement of such change.

    

    (e) After
      giving effect to all Committed Borrowings, all conversions of Committed Loans
      from one Type to the other, and all continuations of Committed Loans as the
      same
      Type, there shall not be more than twelve Interest Periods in effect with
      respect to Revolving Loans.

    

    2.03 Letters
      of Credit.

    

    (a) The
      Letter of Credit Commitment.

    

    (i) Subject
      to the terms and conditions set forth herein, (A) each applicable L/C
      Issuer agrees, in reliance upon the agreements of the Lenders having Revolving
      Commitments set forth in this Section 2.03, (1) from time to
      time on any Business Day during the period from the Closing Date until the
      Letter of Credit Expiration Date, to issue Letters of Credit for the account
      of
      the Borrower or its Subsidiaries, and to amend or extend Letters of Credit
      previously issued by it, in accordance with subsection (b) below, and
      (2) to honor drawings under the Letters of Credit; and (B) the Lenders
      having Revolving Commitments severally agree to participate in Letters of Credit
      issued for the account of the Borrower or its Subsidiaries and any drawings
      thereunder; provided that after giving effect to any L/C Credit Extension
      with respect to any Letter of Credit, (x) the Total Revolving Outstandings
      shall not exceed the Aggregate Revolving Commitments, (y) the aggregate
      Outstanding Amount of the Revolving Loans of any Lender, plus such
      Lender’s Applicable Percentage of the Outstanding Amount of all L/C Obligations,
      plus such Lender’s Applicable Percentage of the Outstanding Amount of all
      Swingline Loans shall not exceed such Lender’s Revolving Commitment, or
      (z) the Outstanding Amount of the L/C Obligations shall not exceed the
      Letter of Credit Sublimit. Each request by the Borrower for the issuance or
      amendment of a Letter of Credit shall be deemed to be a representation by the
      Borrower that the L/C Credit Extension so requested complies with the conditions
      set forth in the proviso to the preceding sentence. Within the foregoing limits,
      and subject to the terms and conditions hereof, the Borrower’s ability to obtain
      Letters of Credit shall be fully revolving, and accordingly the Borrower may,
      during the foregoing period, obtain Letters of Credit to replace Letters of
      Credit that have expired or that have been drawn upon and reimbursed. On the
      Closing Date, each L/C Issuer that has issued an Existing Letters of Credit
      shall be deemed, without further action by any party hereto, to have granted
      to
      each Lender and each Lender shall be deemed to have purchased from such L/C
      Issuer a participation in such Letter of Credit in accordance with paragraph
      (b)(ii) below. On and after the Closing Date, each Existing Letter of
      Credit shall constitute a Letter of Credit for the purposes hereof.

    

    (ii) No
      L/C Issuer shall issue any Letter of Credit if:

    

    (A) subject
      to Section 2.03(b)(iii), the expiry date of such requested
      Letter of Credit would occur more than twelve months after the date of issuance
      or last extension, unless the Required Lenders have approved such expiry date;
      or

    

    (B) the
      expiry date of such requested Letter of Credit would occur after the Letter
      of
      Credit Expiration Date, unless all the Lenders have approved such expiry
      date;

     

     

    
      
         

      

      
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    (iii) No
      L/C Issuer shall be under any obligation to issue any Letter of Credit
      if:

    

    (A) any
      order, judgment or decree of any Governmental Authority or arbitrator shall
      by
      its terms purport to enjoin or restrain the applicable L/C Issuer from issuing
      such Letter of Credit, or any Law applicable to such L/C Issuer or any request
      or directive (whether or not having the force of law) from any Governmental
      Authority with jurisdiction over such L/C Issuer shall prohibit, or request
      that
      such L/C Issuer refrain from, the issuance of letters of credit generally or
      such Letter of Credit in particular or shall impose upon such L/C Issuer with
      respect to such Letter of Credit any restriction, reserve or capital requirement
      (for which such L/C Issuer is not otherwise compensated hereunder) not in effect
      on the Closing Date, or shall impose upon such L/C Issuer any unreimbursed
      loss,
      cost or expense which was not applicable on the Closing Date and which such
      L/C
      Issuer in good faith deems material to it;

    

    (B) the
      issuance of such Letter of Credit would violate one or more policies of such
      L/C
      Issuer applicable to all applicants for Letters of Credit from such L/C Issuer;
      or

    

    (C) except
      as otherwise agreed by the Administrative Agent and the applicable L/C Issuer,
      such Letter of Credit is in an initial stated amount less than
      $500,000.

    

    (D) such
      Letter of Credit is to be denominated in a currency other than Dollars;
      or

    

    (E) such
      Letter of Credit contains any provision for automatic reinstatement of the
      stated amount after any drawing thereunder;

    

    (iv) No
      L/C Issuer shall increase or extend any Letter of Credit issued by it if such
      L/C Issuer would not be permitted at such time to issue such Letter of Credit
      in
      its increased or extended form under the terms hereof.

    

    (v) No
      L/C Issuer shall be under any obligation to amend any Letter of Credit if
      (A) such L/C Issuer would have no obligation at such time to issue such
      Letter of Credit in its amended form under the terms hereof, or (B) the
      beneficiary of such Letter of Credit does not accept the proposed amendment
      to
      such Letter of Credit.

    

    (b) Procedures
      for Issuance and Amendment of Letters of Credit; Auto-Extension Letters of
      Credit.

    

    (i) Each
      Letter of Credit shall be issued or amended, as the case may be, upon the
      request of the Borrower delivered to the applicable L/C Issuer (with a copy
      to
      the Administrative Agent) in the form of a Letter of Credit Application,
      appropriately completed and signed by a Responsible Officer of the Borrower.
      Such Letter of Credit Application must be received by the

     

     

    
      
         

      

      
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    applicable
      L/C Issuer not later than 11:00 a.m. at least two Business Days (or such
      later date and time as such L/C Issuer may agree in a particular instance in
      its
      sole discretion) prior to the proposed issuance date or date of amendment,
      as
      the case may be, and notice of the proposed issuance or amendment of such Letter
      of Credit shall be delivered to the Administrative Agent contemporaneously
      therewith. In the case of a request for an initial issuance of a Letter of
      Credit, such Letter of Credit Application shall specify in form and detail
      satisfactory to the applicable L/C Issuer: (A) the proposed issuance date
      of the requested Letter of Credit (which shall be a Business Day); (B) the
      amount thereof; (C) the expiry date thereof; (D) the name and address
      of the beneficiary thereof; (E) the documents to be presented by such
      beneficiary in case of any drawing thereunder; and (F) such other matters
      as the applicable L/C Issuer may require. In the case of a request for an
      amendment of any outstanding Letter of Credit, such Letter of Credit Application
      shall specify in form and detail satisfactory to the applicable L/C Issuer
      (1) the Letter of Credit to be amended; (2) the proposed date of
      amendment thereof (which shall be a Business Day); (3) the nature of the
      proposed amendment; and (4) such other matters as the applicable L/C Issuer
      may require. Additionally, the Borrower shall furnish to the applicable L/C
      Issuer such other documents and information pertaining to such requested Letter
      of Credit issuance or amendment, including any Issuer Documents, as the
      applicable L/C Issuer may require.

    

    (ii) Promptly
      after receipt of any Letter of Credit Application, the applicable L/C Issuer
      will provide the Administrative Agent with a copy thereof. Unless the applicable
      L/C Issuer has received written notice from the Administrative Agent at least
      one Business Day prior to the requested date of issuance or amendment of the
      applicable Letter of Credit that one or more of the applicable conditions
      contained in Article V shall not then be satisfied, the applicable
      L/C Issuer shall, on the requested date, issue a Letter of Credit for the
      account of the Borrower (or the applicable Subsidiary) or enter into the
      applicable amendment, as the case may be, in each case in accordance with such
      L/C Issuer’s usual and customary business practices. Immediately upon the
      issuance of each Letter of Credit or amendment thereof, each Lender having
      a
      Revolving Commitment shall be deemed to, and hereby irrevocably and
      unconditionally agrees to, purchase from the applicable L/C Issuer a risk
      participation in such Letter of Credit in an amount equal to the product of
      such
      Lender’s Applicable Percentage times the amount of such Letter of
      Credit.

    

    (iii) If
      the Borrower so requests in any applicable Letter of Credit Application, the
      applicable L/C Issuer may, in its sole and absolute discretion, agree to issue
      a
      Letter of Credit that has automatic extension provisions (each, an
“Auto-Extension Letter of Credit”); provided that any such
      Auto-Extension Letter of Credit must permit the applicable L/C Issuer to prevent
      any such extension at least once in each twelve-month period (commencing with
      the date of issuance of such Letter of Credit) by giving prior notice to the
      beneficiary thereof not later than a day (the “Non-Extension Notice
      Date”) in each such twelve-month period to be agreed upon at the time such
      Letter of Credit is issued. Unless otherwise directed by the applicable L/C
      Issuer, the Borrower shall not be required to make a specific request to the
      applicable L/C Issuer for any such extension. Once an Auto-Extension Letter
      of
      Credit has been issued, the Lenders shall be deemed to have authorized (but
      may
      not require) the applicable L/C Issuer to permit the extension of such Letter
      of
      Credit at any time to an expiry date not later than the Letter of Credit
      Expiration Date; provided, however, that the applicable L/C Issuer
      shall not permit any such

     

     

    
      
         

      

      
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    extension
      if (A) the applicable L/C Issuer has determined that it would not be
      permitted, or would have no obligation at such time to issue such Letter of
      Credit in its revised form under the terms hereof (by reason of the provisions
      of clause (ii) or (iii) of Section 2.03(a) or otherwise), or
      (B) it has received notice (which may be by telephone or in writing) on or
      before the day that is five Business Days before the Non-Extension Notice Date
      (1) from the Administrative Agent that the Required Lenders have elected
      not to permit such extension or (2) from the Administrative Agent that one
      or more of the applicable conditions specified in Section 5.02 is
      not then satisfied, and in each case directing the applicable L/C Issuer not
      to
      permit such extension.

    

    (iv) Promptly
      after its delivery of any Letter of Credit or any amendment to a Letter of
      Credit to an advising bank with respect thereto or to the beneficiary thereof,
      the applicable L/C Issuer will also deliver to the Borrower and the
      Administrative Agent a true and complete copy of such Letter of Credit or
      amendment.

    

    (v) Any
      Lender with a Revolving Commitment (in such capacity, a “Discretionary L/C
      Issuer”) may from time to time, at the written request of the Borrower (with
      a copy to the Administrative Agent), and in such Lender’s sole discretion, agree
      to issue one or more Letters of Credit for the account of the Borrower on the
      same terms and conditions in all respects as are applicable to the Letters
      of
      Credit issued by the then existing L/C Issuer(s) hereunder by executing and
      delivering to the Administrative Agent a written agreement to such effect,
      among
      (and in form and substance satisfactory to) the Borrower, the Administrative
      Agent and such Discretionary L/C Issuer. With respect to each of the Letters
      of
      Credit issued (or to be issued) thereby, each of the Discretionary L/C Issuers
      shall have all of the same rights and obligations under and in respect of this
      Agreement and the other Loan Documents, and shall be entitled to all of the
      same
      benefits (including, without limitation, the rights, obligations and benefits
      set forth in Sections 2.04, 9.03 and 11.01), as are
      afforded to the then existing L/C Issuers hereunder and thereunder. The
      Administrative Agent shall promptly notify each of the Lenders with a Revolving
      Commitment of the appointment of any Discretionary L/C Issuer. Each
      Discretionary L/C Issuer shall provide to the Administrative Agent, on a monthly
      basis, a report that details the activity with respect to each Letter of Credit
      issued by such Discretionary L/C Issuer (including an indication of the maximum
      amount then in effect with respect to each such Letter of Credit).

    

    (c) Drawings
      and Reimbursements; Funding of Participations.

    

    (i) Upon
      receipt from the beneficiary of any Letter of Credit of any notice of a drawing
      under such Letter of Credit, the applicable L/C Issuer shall notify the Borrower
      and the Administrative Agent thereof and of the date that the L/C Issuer is
      to
      make payment under the applicable Letter of Credit (such payment date, the
      “Honor Date”). Not later than 12:00 noon on the Honor Date (if the
      Borrower has received notice of such drawing prior to 10:00 a.m. on the Honor
      Date), the Borrower shall reimburse the applicable L/C Issuer through the
      Administrative Agent in an amount equal to the amount of such drawing;
provided, however, if such notice has not been received by the
      Borrower prior to 10:00 a.m. on the Honor Date, the Borrower shall so reimburse
      the applicable L/C Issuer through the Administrative Agent not later than 12:00
      noon on the Business Day immediately following the day that the Borrower
      receives such notice. If the Borrower fails to so reimburse the applicable
      L/C
      Issuer by such time, the Administrative

     

     

    
      
         

      

      
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    Agent
      shall promptly notify each Lender having a Revolving Commitment of the Honor
      Date, the amount of the unreimbursed drawing (the “Unreimbursed Amount”),
      and the amount of such Lender’s Applicable Percentage thereof. In such event,
      the Borrower shall be deemed to have requested a Borrowing of Base Rate
      Revolving Loans to be disbursed on the Honor Date in an amount equal to the
      Unreimbursed Amount, without regard to the minimum and multiples specified
      in
Section 2.02 for the principal amount of Base Rate Committed Loans,
      but subject to the amount of the unutilized portion of the Aggregate Revolving
      Commitments and the conditions set forth in Section 5.02 (other than
      the delivery of a Committed Loan Notice). Any notice given by the applicable
      L/C
      Issuer or the Administrative Agent pursuant to this
Section 2.03(c)(i) may be given by telephone if immediately
      confirmed in writing; provided that the lack of such an immediate
      confirmation shall not affect the conclusiveness or binding effect of such
      notice.

    

    (ii) Each
      Lender having a Revolving Commitment shall upon any notice pursuant to
Section 2.03(c)(i) make funds available to the Administrative Agent
      for the account of the applicable L/C Issuer at the Administrative Agent’s
      Office in an amount equal to its Applicable Percentage of the Unreimbursed
      Amount not later than 1:00 p.m. on the Business Day specified in such
      notice by the Administrative Agent, whereupon, subject to the provisions of
      Section 2.03(c)(iii), each Lender that so makes funds available
      shall be deemed to have made a Base Rate Revolving Loan to the Borrower in
      such
      amount. The Administrative Agent shall remit the funds so received to the
      applicable L/C Issuer.

    

    (iii) With
      respect to any Unreimbursed Amount that is not fully refinanced by a Borrowing
      of Base Rate Revolving Loans because the conditions set forth in
Section 5.02 (other than delivery of a Committed Loan Notice) cannot
      be satisfied or for any other reason, the Borrower shall be deemed to have
      incurred from the applicable L/C Issuer an L/C Borrowing in the amount of the
      Unreimbursed Amount that is not so refinanced, which L/C Borrowing shall be
      due
      and payable on demand (together with interest) and shall bear interest at the
      Default Rate. In such event, each Lender’s payment to the Administrative Agent
      for the account of the applicable L/C Issuer pursuant to
Section 2.03(c)(ii) shall be deemed payment in respect of its
      participation in such L/C Borrowing and shall constitute an L/C Advance from
      such Lender in satisfaction of its participation obligation under this
Section 2.03.

    

    (iv) Until
      each Lender funds its Revolving Loan or L/C Advance pursuant to this
Section 2.03(c) to reimburse the applicable L/C Issuer for any
      amount drawn under any Letter of Credit, interest in respect of such Lender’s
      Applicable Percentage of such amount shall be solely for the account of the
      applicable L/C Issuer.

    

    (v) Each
      Lender’s obligation to make Revolving Loans or L/C Advances to reimburse the
      applicable L/C Issuer for amounts drawn under Letters of Credit, as contemplated
      by this Section 2.03(c), shall be absolute and unconditional and
      shall not be affected by any circumstance, including (A) any setoff,
      counterclaim, recoupment, defense or other right which such Lender may have
      against the applicable L/C Issuer, the Borrower or any other Person for any
      reason whatsoever; (B) the occurrence or continuance of a Default, or
      (C) any other occurrence, event or condition, whether or not similar to any
      of the foregoing; provided, however, that each Lender’s obligation
      to make Revolving Loans pursuant to this
Section 2.03(c)

     

     

    
      
         

      

      
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    is
      subject to the conditions set forth in Section 5.02 (other than
      delivery by the Borrower of a Committed Loan Notice). No such making of an
      L/C
      Advance shall relieve or otherwise impair the obligation of the Borrower to
      reimburse the applicable L/C Issuer for the amount of any payment made by the
      applicable L/C Issuer under any Letter of Credit, together with interest as
      provided herein.

    

    (vi) If
      any Lender fails to make available to the Administrative Agent for the account
      of the applicable L/C Issuer any amount required to be paid by such Lender
      pursuant to the foregoing provisions of this Section 2.03(c) by the
      time specified in Section 2.03(c)(ii), the applicable L/C Issuer
      shall be entitled to recover from such Lender (acting through the Administrative
      Agent), on demand, such amount with interest thereon for the period from the
      date such payment is required to the date on which such payment is immediately
      available to the applicable L/C Issuer at a rate per annum equal to the Federal
      Funds Rate from time to time in effect. A certificate of the applicable L/C
      Issuer submitted to any Lender (through the Administrative Agent) with respect
      to any amounts owing under this clause (vi) shall be conclusive absent
      manifest error.

    

    (d) Repayment
      of Participations.

    

    (i) At
      any time after the applicable L/C Issuer has made a payment under any Letter
      of
      Credit and has received from any Lender such Lender’s L/C Advance in respect of
      such payment in accordance with Section 2.03(c), if the
      Administrative Agent receives for the account of the applicable L/C Issuer
      any
      payment in respect of the related Unreimbursed Amount or interest thereon
      (whether directly from the Borrower or otherwise, including proceeds of Cash
      Collateral applied thereto by the Administrative Agent), the Administrative
      Agent will distribute to such Lender its Applicable Percentage thereof
      (appropriately adjusted, in the case of interest payments, to reflect the period
      of time during which such Lender’s L/C Advance was outstanding) in the same
      funds as those received by the Administrative Agent.

    

    (ii) If
      any payment received by the Administrative Agent for the account of the
      applicable L/C Issuer pursuant to Section 2.03(c)(i) is required to
      be returned under any of the circumstances described in
Section 11.06 (including pursuant to any settlement entered into by
      the applicable L/C Issuer in its discretion), each Lender shall pay to the
      Administrative Agent for the account of the applicable L/C Issuer its Applicable
      Percentage thereof on demand of the Administrative Agent, plus interest
      thereon from the date of such demand to the date such amount is returned by
      such
      Lender, at a rate per annum equal to the Federal Funds Rate from time to time
      in
      effect.

    

    (e) Obligations
      Absolute. The obligation of the Borrower to reimburse the applicable L/C
      Issuer for each drawing under each Letter of Credit and to repay each L/C
      Borrowing shall be absolute, unconditional and irrevocable, and shall be paid
      strictly in accordance with the terms of this Agreement under all circumstances,
      including the following:

    

    (i) any
      lack of validity or enforceability of such Letter of Credit, this Agreement,
      or
      any other Loan Document;

     

     

    
      
         

      

      
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    (ii) the
      existence of any claim, counterclaim, set-off, defense or other right that
      the
      Borrower or any Subsidiary may have at any time against any beneficiary or
      any
      transferee of such Letter of Credit (or any Person for whom any such beneficiary
      or any such transferee may be acting), the applicable L/C Issuer or any other
      Person, whether in connection with this Agreement, the transactions contemplated
      hereby or by such Letter of Credit or any agreement or instrument relating
      thereto, or any unrelated transaction;

    

    (iii) any
      draft, demand, certificate or other document presented under such Letter of
      Credit proving to be forged, fraudulent, invalid or insufficient in any respect
      or any statement therein being untrue or inaccurate in any respect; or any
      loss
      or delay in the transmission or otherwise of any document required in order
      to
      make a drawing under such Letter of Credit;

    

    (iv) any
      payment by the applicable L/C Issuer under such Letter of Credit against
      presentation of a draft or certificate that does not strictly comply with the
      terms of such Letter of Credit; or any payment made by the applicable L/C Issuer
      under such Letter of Credit to any Person purporting to be a trustee in
      bankruptcy, debtor-in-possession, assignee for the benefit of creditors,
      liquidator, receiver or other representative of or successor to any beneficiary
      or any transferee of such Letter of Credit, including any arising in connection
      with any proceeding under any Debtor Relief Law; or

    

    (v) any
      other circumstance or happening whatsoever, whether or not similar to any of
      the
      foregoing, including any other circumstance that might otherwise constitute
      a
      defense available to, or a discharge of, the Borrower or any
      Subsidiary.

    

    The
      Borrower shall promptly examine a copy of each Letter of Credit and each
      amendment thereto that is delivered to it and, in the event of any claim of
      noncompliance with the Borrower’s instructions or other irregularity, the
      Borrower will promptly notify the applicable L/C Issuer. The Borrower shall
      be
      conclusively deemed to have waived any such claim against the applicable L/C
      Issuer and its correspondents unless such notice is given as
      aforesaid.

    

    (f) Role
      of L/C Issuer. Each Lender and the Borrower agree that, in paying any
      drawing under a Letter of Credit, the applicable L/C Issuer shall not have
      any
      responsibility to obtain any document (other than any sight draft, certificates
      and documents expressly required by the Letter of Credit) or to ascertain or
      inquire as to the validity or accuracy of any such document or the authority
      of
      the Person executing or delivering any such document. None of the applicable
      L/C
      Issuer, any Related Party of such L/C Issuer, nor any of the respective
      correspondents, participants or assignees of the applicable L/C Issuer shall
      be
      liable to any Lender for (i) any action taken or omitted in connection
      herewith in the absence of gross negligence or willful misconduct; or
      (ii) the due execution, effectiveness, validity or enforceability of any
      document or instrument related to any Letter of Credit or Letter of Credit
      Application. The Borrower hereby assumes all risks of the acts or omissions
      of
      any beneficiary or transferee with respect to its use of any Letter of Credit;
      provided, however, that this

     

     

    
      
         

      

      
        47

        
          

        

      

      
         

      

    

     

    assumption
      is not intended to, and shall not, preclude the Borrower’s pursuing such rights
      and remedies as it may have against the beneficiary or transferee at law or
      under any other agreement. None of the L/C Issuer, the Administrative Agent,
      any
      of their respective Related Parties, nor any of the respective correspondents,
      participants or assignees of the applicable L/C Issuer, shall be liable or
      responsible for any of the matters described in clauses (i) through (v) of
Section 2.03(e); provided, however, that anything in
      such clauses to the contrary notwithstanding, the Borrower may have a claim
      against the applicable L/C Issuer, and the applicable L/C Issuer may be liable
      to the Borrower, to the extent, but only to the extent, of any direct, as
      opposed to consequential or exemplary, damages suffered by the Borrower which
      the Borrower proves were caused by the applicable L/C Issuer’s willful
      misconduct or gross negligence or the applicable L/C Issuer’s willful failure to
      pay under any Letter of Credit after the presentation to it by the beneficiary
      of a sight draft and certificate(s) strictly complying with the terms and
      conditions of a Letter of Credit. In furtherance and not in limitation of the
      foregoing, the applicable L/C Issuer may accept documents that appear on their
      face to be in order, without responsibility for further investigation,
      regardless of any notice or information to the contrary, and the applicable
      L/C
      Issuer shall not be responsible for the validity or sufficiency of any
      instrument transferring or assigning or purporting to transfer or assign a
      Letter of Credit or the rights or benefits thereunder or proceeds thereof,
      in
      whole or in part, which may prove to be invalid or ineffective for any
      reason.

    

    (g) Cash
      Collateral. Upon the request of the Administrative Agent, if, as of the
      Letter of Credit Expiration Date, any Letter of Credit for any reason remains
      outstanding and partially or wholly undrawn, and the Administrative Agent or
      the
      Required Lenders so request, the Borrower shall immediately Cash Collateralize
      the then Outstanding Amount of all L/C Obligations (in an amount equal to such
      Outstanding Amount determined as of the date of such L/C Borrowing or the Letter
      of Credit Expiration Date, as the case may be). Section 2.05 and
Section 9.02(c) set forth certain additional requirements to deliver
      Cash Collateral hereunder. For purposes of this Section 2.03,
Section 2.05 and Section 9.02(c), “Cash
      Collateralize” means to pledge and deposit with or deliver to the
      Administrative Agent, for the benefit of the applicable L/C Issuer and the
      Lenders, as collateral for the L/C Obligations, cash or deposit account balances
      pursuant to documentation in form and substance satisfactory to the
      Administrative Agent and the applicable L/C Issuer (which documents are hereby
      consented to by the Lenders). Derivatives of such term have corresponding
      meanings. “Cash Collateral” means cash or deposit account balances used
      to Cash Collateralize an obligation, and all proceeds thereof. The Borrower
      hereby grants to the Administrative Agent, for the benefit of the applicable
      L/C
      Issuer and the Lenders, a security interest in all such cash, deposit accounts
      and all balances therein and all proceeds of the foregoing. Cash Collateral
      shall be maintained in blocked, non-interest bearing deposit accounts at Bank
      of
      America.

    

    (h) Applicability
      of ISP. Unless otherwise expressly agreed by the applicable L/C Issuer and
      the Borrower when a Letter of Credit is issued (including any such agreement
      applicable to an Existing Letter of Credit), the rules of the ISP shall apply
      to
      each Letter of Credit.

    

    (i) Letter
      of Credit Fees. The Borrower shall pay to the Administrative Agent for the
      account of each Lender having a Revolving Commitment in accordance with its
      Applicable

     

    
      
         

      

      
        48

        
          

        

      

      
         

      

    

     

    Percentage a
      Letter of Credit fee (the “Letter of Credit Fee”) for each Letter of
      Credit accruing at the Applicable Rate in effect from time to time multiplied
      by the daily amount available to be drawn under such Letter of Credit. For
      the purposes of computing the daily amount available to be drawn under any
      Letter of Credit, the amount of such Letter of Credit shall be determined in
      accordance with Section 1.06. Letter of Credit Fees shall be
      (i) computed on a quarterly basis in arrears, and (ii) due and payable
      on the first Business Day after the end of each March, June, September and
      December, commencing with the first such date to occur after the issuance of
      such Letter of Credit, on the Letter of Credit Expiration Date and thereafter
      on
      demand. Notwithstanding anything to the contrary contained herein, while any
      Event of Default exists, all Letter of Credit Fees shall accrue at the Default
      Rate.

    

    (j) Fronting
      Fee and Processing Charges Payable to L/C Issuer. The Borrower shall pay
      directly to the applicable L/C Issuer for its own account a fronting fee for
      each Letter of Credit in such amount as may be agreed to by the Borrower and
      the
      applicable L/C Issuer. Such fronting fee shall be (i) computed on a
      quarterly basis in arrears, and (ii) due and payable on the tenth Business
      Day after the end of each March, June, September and December in respect of
      the
      most recently-ended quarterly period (or portion thereof, in the case of the
      first payment), commencing with the first such date to occur after the issuance
      of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter
      on demand. For the purposes of computing the daily amount available to be drawn
      under any Letter of Credit, the amount of such Letter of Credit shall be
      determined in accordance with Section 1.06. In addition, the
      Borrower shall pay directly to the applicable L/C Issuer for its own account
      the
      customary issuance, presentation, amendment and other processing fees, and
      other
      standard costs and charges, of the applicable L/C Issuer relating to letters
      of
      credit as from time to time in effect. Such customary fees and standard costs
      and charges are due and payable on demand and are nonrefundable.

    

    (k) Conflict
      with Issuer Documents. In the event of any conflict between the terms hereof
      and the terms of any Issuer Documents, the terms hereof shall
      control.

    

    (l) Letters
      of Credit Issued for Subsidiaries. Notwithstanding that a Letter of Credit
      issued or outstanding hereunder is in support of any obligations of, or is
      for
      the account of, a Subsidiary, the Borrower shall be obligated to reimburse
      the
      applicable L/C Issuer hereunder for any and all drawings under such Letter
      of
      Credit. The Borrower hereby acknowledges that the issuance of Letters of Credit
      for the account of Subsidiaries inures to the benefit of the Borrower, and
      that
      the Borrower’s business derives substantial benefits from the businesses of such
      Subsidiaries.

    

    2.04 Swingline
      Loans.

    

    (a) The
      Swingline. Subject to the terms and conditions set forth herein, the
      Swingline Lender agrees, in reliance upon the agreements of the other Lenders
      having Revolving Commitments set forth in this Section 2.04, to make
      loans (each such loan, a “Swingline Loan”) to the Borrower from time to
      time on any Business Day during the Availability Period in an aggregate amount
      not to exceed at any time outstanding the amount of the Swingline Sublimit,
      notwithstanding the fact that such Swingline Loans, when aggregated with the
      Applicable Percentage of the Outstanding Amount of Revolving Loans and L/C
      Obligations of the Lender

     

     

    
      
         

      

      
        49

        
          

        

      

      
         

      

    

     

    acting
      as
      Swingline Lender, may exceed the amount of such Lender’s Commitment;
provided, however, that after giving effect to any Swingline Loan,
      (i) the Total Revolving Outstandings shall not exceed the Aggregate
      Revolving Commitments, and (ii) the aggregate Outstanding Amount of the
      Committed Loans of any Lender (other than the Swingline Lender), plus
      such Lender’s Applicable Percentage of the Outstanding Amount of all L/C
      Obligations, plus such Lender’s Applicable Percentage of the Outstanding
      Amount of all Swingline Loans shall not exceed such Lender’s Commitment, and
provided, further, that the Borrower shall not use the proceeds of
      any Swingline Loan to refinance any outstanding Swingline Loan. Within the
      foregoing limits, and subject to the other terms and conditions hereof, the
      Borrower may borrow under this Section 2.04, prepay under
Section 2.05, and reborrow under this Section 2.04.
      Immediately upon the making of a Swingline Loan, each Lender having a Revolving
      Commitment shall be deemed to, and hereby irrevocably and unconditionally agrees
      to, purchase from the Swingline Lender a risk participation in such Swingline
      Loan in an amount equal to the product of such Lender’s Applicable Percentage
times the amount of such Swingline Loan.

    

    (b) Borrowing
      Procedures. Each Swingline Borrowing shall be made upon the Borrower’s
      irrevocable notice to the Swingline Lender and the Administrative Agent, which
      may be given by telephone. Each such notice must be received by the Swingline
      Lender not later than 1:00 p.m. on the requested borrowing date (or such later
      time as the Swingline Lender shall agree to in the case of any Swingline
      Borrowing) with a copy to the Administrative Agent, and shall specify
      (i) the amount to be borrowed, which shall be a minimum of $100,000 or a
      whole multiple of $10,000 in excess thereof and (ii) the requested
      borrowing date, which shall be a Business Day. Each such telephonic notice
      must
      be confirmed promptly by delivery to the Swingline Lender and the Administrative
      Agent of a written Swingline Loan Notice, appropriately completed and signed
      by
      a Responsible Officer of the Borrower. Promptly after receipt by the Swingline
      Lender of any telephonic Swingline Loan Notice, the Swingline Lender will
      confirm with the Administrative Agent (by telephone or in writing) that the
      Administrative Agent has also received such Swingline Loan Notice and, if not,
      the Swingline Lender will notify the Administrative Agent (by telephone or
      in
      writing) of the contents thereof. Unless the Swingline Lender has received
      notice (by telephone or in writing) from the Administrative Agent within one
      hour of the Borrower’s notice requesting a Swingline Borrowing
      (A) directing the Swingline Lender not to make such Swingline Loan as a
      result of the limitations set forth in the proviso to the first sentence of
      Section 2.04(a), or (B) that one or more of the applicable
      conditions specified in Article V is not then satisfied (a copy of
      which notice shall be delivered simultaneously to the Borrower by the
      Administrative Agent), then, subject to the terms and conditions hereof, the
      Swingline Lender will, promptly by in any event not later than 2:00 p.m. on
      the
      borrowing date specified in such Swingline Loan Notice, make the amount of
      its
      Swingline Loan available to the Borrower in immediately available
      funds.

    

    (c) Refinancing
      of Swingline Loans.

    

    (i) The
      Swingline Lender at any time in its sole and absolute discretion may request,
      on
      behalf of the Borrower (which hereby irrevocably authorizes the Swingline Lender
      to so request on its behalf), that each Lender having a Revolving Commitment
      make a Base Rate Revolving Loan in an amount equal to such Lender’s Applicable
      Percentage of the amount of Swingline Loans then outstanding. Such request
      shall
      be made in writing (which written request

     

     

    
      
         

      

      
        50

        
          

        

      

      
         

      

    

     

    shall
      be
      deemed to be a Committed Loan Notice for purposes hereof) and in accordance
      with
      the requirements of Section 2.02, without regard to the minimum and
      multiples specified therein for the principal amount of Base Rate Loans, but
      subject to the unutilized portion of the Aggregate Commitments and the
      conditions set forth in Section 5.02. The Swingline Lender shall
      furnish the Borrower with a copy of the applicable Committed Loan Notice
      promptly after delivering such notice to the Administrative Agent. Each Lender
      having a Revolving Commitment shall make an amount equal to its Applicable
      Percentage of the amount specified in such Committed Loan Notice available
      to
      the Administrative Agent in immediately available funds for the account of
      the
      Swingline Lender at the Administrative Agent’s Office not later than 10:00 a.m.
      on the day specified in such Committed Loan Notice (which day shall be not
      sooner than the first Business Day following the date on which such Committed
      Loan Notice is delivered), whereupon, subject to
Section 2.04(c)(ii), each Lender that so makes funds available shall
      be deemed to have made a Base Rate Revolving Loan to the Borrower in such
      amount. The Administrative Agent shall remit the funds so received to the
      Swingline Lender.

    

    (ii) If
      for any reason any Swingline Loan cannot be refinanced by such a Committed
      Borrowing in accordance with Section 2.04(c)(i), the request for
      Base Rate Revolving Loans submitted by the Swingline Lender as set forth herein
      shall be deemed to be a request by the Swingline Lender that each of the Lenders
      having a Revolving Commitment fund its risk participation in the relevant
      Swingline Loan and each Lender’s payment to the Administrative Agent for the
      account of the Swingline Lender pursuant to Section 2.04(c)(i) shall
      be deemed payment in respect of such participation.

    

    (iii) If
      any Lender fails to make available to the Administrative Agent for the account
      of the Swingline Lender any amount required to be paid by such Lender pursuant
      to the foregoing provisions of this Section 2.04(c) by the time
      specified in Section 2.04(c)(i), the Swingline Lender shall be
      entitled to recover from such Lender (acting through the Administrative Agent),
      on demand, such amount with interest thereon for the period from the date such
      payment is required to the date on which such payment is immediately available
      to the Swingline Lender at a rate per annum equal to the greater of the Federal
      Funds Rate and a rate determined by the Swingline Lender in accordance with
      banking industry rules on interbank compensation. A certificate of the Swingline
      Lender submitted to any Lender (through the Administrative Agent) with respect
      to any amounts owing under this clause (iii) shall be conclusive absent
      manifest error.

    

    (iv) Each
      Lender’s obligation to make Revolving Loans or to purchase and fund risk
      participations in Swingline Loans pursuant to this Section 2.04(c)
      shall be absolute and unconditional and shall not be affected by any
      circumstance, including (A) any set-off, counterclaim, recoupment, defense
      or other right which such Lender may have against the Swingline Lender, the
      Borrower or any other Person for any reason whatsoever, (B) the occurrence
      or continuance of a Default, or (C) any other occurrence, event or
      condition, whether or not similar to any of the foregoing; provided,
however, that each Lender’s obligation to make Revolving Loans pursuant
      to this Section 2.04(c) is subject to the conditions set forth in
Section 5.02. No such funding of risk participations shall relieve
      or otherwise impair the obligation of the Borrower to repay Swingline Loans,
      together with interest as provided herein.

     

     

    
      
         

      

      
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    (d) Repayment
      of Participations.

    

    (i) At
      any time after any Lender has purchased and funded a risk participation in
      a
      Swingline Loan, if the Swingline Lender receives any payment on account of
      such
      Swingline Loan, the Swingline Lender will distribute to such Lender its
      Applicable Percentage of such payment (appropriately adjusted, in the case
      of
      interest payments, to reflect the period of time during which such Lender’s risk
      participation was funded) in the same funds as those received by the Swingline
      Lender.

    

    (ii) If
      any payment received by the Swingline Lender in respect of principal or interest
      on any Swingline Loan is required to be returned by the Swingline Lender under
      any of the circumstances described in Section 11.06 (including
      pursuant to any settlement entered into by the Swingline Lender in its
      discretion), each Lender having a Revolving Commitment shall pay to the
      Swingline Lender its Applicable Percentage thereof on demand of the
      Administrative Agent, plus interest thereon from the date of such demand to
      the
      date such amount is returned, at a rate per annum equal to the Federal Funds
      Rate. The Administrative Agent will make such demand upon the request of the
      Swingline Lender. The obligations of the Lenders under this clause shall survive
      payment in full of the Obligations and the termination of this
      Agreement.

    

    (e) Interest
      for Account of Swingline Lender. The Swingline Lender shall be responsible
      for invoicing the Borrower for interest on the Swingline Loans. Until each
      Lender funds its Base Rate Revolving Loan or risk participation pursuant to
      this
Section 2.04 to refinance such Lender’s Applicable Percentage of any
      Swingline Loan, interest in respect of such Applicable Percentage shall be
      solely for the account of the Swingline Lender.

    

    (f) Payments
      Directly to Swingline Lender. The Borrower shall make all payments of
      principal and interest in respect of the Swingline Loans directly to the
      Swingline Lender.

    

    (g) Swingline
      Note. The Swingline Loans shall be evidenced by a duly executed promissory
      note of the Borrower to the Swingline Lender in the form of Exhibit
      C-1.

    

    2.05 Prepayments.

    

    (a) Voluntary
      Prepayments of Loans.

    

    
      	 	
              (i)

            	
              Committed
                Loans. The Borrower may, upon notice to the Administrative Agent,
                at
                any time or from time (i) voluntarily prepay Base Rate Committed
                Loans in whole or in part without premium or penalty, and
                (ii) subject to Section 3.05, voluntarily prepay
                Eurodollar Rate Loans in whole or in part without premium or penalty;
                provided that (i) such notice must be received by the
                Administrative Agent not later than 11:00 a.m. (A) three
                Business Days prior to any date of prepayment of Eurodollar Rate
                Loans and
                (B) on the date of prepayment of Base Rate Committed Loans;
                (ii) any prepayment of Eurodollar Rate Loans shall be in a principal
                amount of

               

            

       

       

      
        
           

        

        
          52

          
            

          

        

        
           

        

      

       

      
        	 	 	$5,000,000 or a whole multiple of $1,000,000 in
                excess
                thereof (or, if less, the entire principal amount thereof then
                outstanding); (iii) any prepayment of Base Rate Committed Loans shall
                be in a principal amount of $500,000 or a whole multiple of $100,000
                in
                excess thereof (or, if less, the entire principal amount thereof
                then
                outstanding) and (iv) any prepayment of the Tranche B Term Loan shall
                be applied ratably to the remaining Principal Amortization Payments
                thereof; and, provided further that during the period
                from the First Amendment Effective Date to but excluding the first
                anniversary of the First Amendment Effective Date, any voluntary
                prepayment of the Tranche B Term Loans of any Lender using proceeds
                of
                Indebtedness incurred by any Consolidated Party from a substantially
                concurrent issuance or incurrence of syndicated term loans provided
                by one
                or more banks or other financial institutions for which the interest
                rate
                payable thereon is lower than the Eurodollar Rate on the date of
                such
                voluntary prepayment plus the Applicable Rate with respect to the
                Tranche
                B Term Loans shall be accompanied by payment of a 1% prepayment premium
                on
                the principal amount of such Lender’s Tranche B Term Loan prepaid (unless
                such prepayment premium is waived by such Lender). Each such notice
                shall
                specify the date and amount of such prepayment and the Type(s) of
                Committed Loans to be prepaid. The Administrative Agent will promptly
                notify each Lender of its receipt of each such notice, and of the
                amount
                of such Lender’s Applicable Percentage of such prepayment. If such notice
                is given by the Borrower, the Borrower shall make such prepayment
                and the
                payment amount specified in such notice shall be due and payable
                on the
                date specified therein; provided that if a notice of prepayment is
                given in connection with a conditional notice of termination of the
                Revolving Commitments as contemplated by Section 2.06(b), then
                such notice of prepayment may be revoked if such notice of termination
                is
                revoked in accordance with Section 2.06. Any prepayment of a
                Eurodollar Rate Loan shall be accompanied by all accrued interest
                on the
                amount prepaid, together with any additional amounts required pursuant
                to
                Section 3.05. Each such prepayment shall be applied to the
                Committed Loans of the Lenders in accordance with their respective
                Applicable Percentages. 

      

    

    

    
      	 	
              (ii)

            	
              Swingline
                Loans. The Borrower may, upon notice to the Swingline Lender (with
                a
                copy to the Administrative Agent), at any time or from time to time,
                voluntarily prepay Swingline Loans in whole or in part without premium
                or
                penalty; provided that (i) such notice must be received by the
                Swingline Lender and the Administrative Agent not later than 11:00
                a.m.
                (or such later time as may be acceptable to the Swingline Lender)
                on the
                date of the prepayment, and (ii) any such prepayment shall be in a
                minimum principal amount of $100,000. Each such notice shall specify
                the
                date and amount of such prepayment. If such notice is given by the
                Borrower, the Borrower shall make such prepayment and the payment
                amount
                specified in such notice shall be due and payable on the date specified
                therein.

            

    

    

    (b) Mandatory
      Prepayments. 

    

    
      	 	
              (i)

            	
              Aggregate
                Revolving Commitments. If for any reason the Total Revolving
                Outstandings at any time exceed the Aggregate Revolving Commitments
                then
                in effect, the Borrower shall immediately prepay Revolving Loans
                and/or
                Cash Collateralize the L/C Obligations in an aggregate amount equal
                to
                such excess; provided, however, that the Borrower shall not
                be required to Cash

               

            

       

       

      
        
           

        

        
          53

          
            

          

        

        
           

        

      

       

      
        	 	 	
                Collateralize
                  the L/C Obligations pursuant to this Section 2.05(b)(i))
                  unless after the prepayment in full of the Revolving Loans the
                  Total
                  Revolving Outstandings exceed the Aggregate Revolving Commitments
                  then in effect.
 

      

    

    

    (ii)         (A) Dispositions.
      Not later than the second Business Day following the date of any Disposition
      Prepayment Event, the Borrower shall prepay the Tranche B Term Loan in an
      aggregate amount equal to 100% of the Net Cash Proceeds of the related
      Disposition not applied (or caused to be applied) by the Loan Parties during
      the
      related Application Period to make Eligible Reinvestments as contemplated by
      the
      terms of Section 8.05(b)(vii) (such prepayment to be applied as set
      forth in clause (iv) below); provided that no amount shall be
      required to be applied under this Section 2.04(b)(ii)(A) until the
      aggregate Net Cash Proceeds with respect to all Dispositions (other than
      Excluded Dispositions) consummated during the fiscal year in which such
      Disposition Prepayment Event occurred exceeds $25 million, and then only the
      excess thereof.

    

    (B) Involuntary
      Dispositions. Not later than the second Business Day following the date of
      any Involuntary Disposition Prepayment Event, the Borrower shall prepay the
      Tranche B Term Loan in an aggregate amount equal to 100% of the Excess Proceeds
      of the related Involuntary Disposition (such prepayment to be applied as set
      forth in clause (iv) below).

    

    
      	 	
              (iii)

            	
              Debt
                Issuances. Not later than the second Business Day following the date
                of any Debt Issuance Prepayment Event, the Borrower shall prepay
                the
                Tranche B Term Loan in an aggregate amount equal to 100% of the Net
                Cash
                Proceeds of the related Debt Issuance (such prepayment to be applied
                as
                set forth in clause (iv)
                below).

            

    

    

    (iv) Application
      of Mandatory
      Prepayments. All amounts required to be paid pursuant to
Sections 2.05(b)(ii) or (iii) shall be applied ratably to the
      remaining Principal Amortization Payments of the Tranche B Term
      Loan).

    

    Within
      the parameters of the applications set forth above, prepayments shall be applied
      first to Base Rate Loans and then to Eurodollar Rate Loans in direct order
      of
      Interest Period maturities. All prepayments under this
Section 2.05(b) shall be subject to Section 3.05, but
      otherwise without premium or penalty, and shall be accompanied by interest
      on
      the principal amount prepaid through the date of prepayment.

    

    2.06 Termination
      or Reduction of Commitments.

    

    (a) Voluntary
      Reduction of Aggregate Revolving Commitments. The Borrower may, upon notice
      to the Administrative Agent, terminate the Aggregate Revolving Commitments,
      or
      from time to time permanently reduce the Aggregate Revolving Commitments;
provided that (i) any such notice shall be received by the
      Administrative Agent not later than 1:00 p.m. three Business Days prior to
      the date of termination or reduction, (ii) any such partial reduction
      shall

     

    
      
         

      

      
        54

        
          

        

      

      
         

      

    

     

    be
      in an
      aggregate amount of $10,000,000 or any whole multiple of $1,000,000 in excess
      thereof, (iii) the Borrower shall not terminate or reduce the Aggregate
      Revolving Commitments if, after giving effect thereto and to any concurrent
      prepayments hereunder, the Total Revolving Outstandings would exceed the
      Aggregate Revolving Commitments, and (iv) if, after giving effect to any
      reduction of the Aggregate Revolving Commitments, the Letter of Credit Sublimit
      or Swingline Sublimit exceeds the amount of the Aggregate Revolving Commitments,
      such sublimit automatically shall be reduced by the amount of such
      excess.

    

    (b) General.
      The Administrative Agent will promptly notify the Lenders of any such notice
      of
      termination or reduction of the Aggregate Revolving Commitments. Any reduction
      of the Aggregate Revolving Commitments shall be applied to the Revolving
      Commitment of each Lender according to its Applicable Percentage. All commitment
      fees accrued until the effective date of any termination of the Aggregate
      Revolving Commitments shall be paid on the effective date of such termination.
      A
      notice of termination of all the Revolving 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 such Borrower (by notice
      to the Administrative Agent on or prior to the specified effective date) if
      such
      condition is not satisfied.

    

    (c) Tranche
      B Term Loan Commitment. The Tranche B Term Loan Commitment of each Lender,
      if any, automatically shall terminate at such time as such Lender shall have
      made available to the Borrower its share of the Tranche B Term
      Loan.

    

    2.07 Repayment
      of Loans.

    

    (a) Revolving
      Loans. The Borrower shall repay to the Lenders on the Maturity Date the
      aggregate principal amount of Revolving Loans outstanding on such
      date.

    

    (b) Swingline
      Loans. The Borrower shall repay each Swingline Loan on the earlier to occur
      of (i) the date that is fifteen (15) Business Days after such Loan is made
      (or, provided that the aggregate outstanding amount of all Swingline Loans
      does
      not exceed $5,000,000, such later date as shall be acceptable to the Swingline
      Lender) and (ii) the Maturity Date.

    

    (c) Tranche B
      Term Loan. The Borrower shall repay the outstanding principal amount of the
      Tranche B Term Loan in consecutive quarterly installments as follows (as
      such installments may hereafter be adjusted as a result of prepayments made
      pursuant to Section 2.05), unless accelerated sooner pursuant to
Section 9.02:

     

    
      
        	
                 Payment
                  Dates

              	Principal
                Amortization Payment 
	
                 Each
                  March 31, June 30, September 30

                 and
                  December 31, commencing 

                 December
                  31, 2005 commencing 

                 December
                  31, 2005 and continuing 

                 through
                  September 30, 2011

              	
                 $1,000,000

              
	 December
                31, 2011	
                 $94,000,000

              
	 March
                31, 2012	
                 $94,000,000

              
	 June
                30, 2012	
                 $94,000,000

              
	 Maturity
                Date	
                 Unpaid
                  Balance

              

      

       

    

    

       

    

     

    
      
         

      

      
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    2.08 Interest.

    

    (a) Subject
      to the provisions of subsection (b) below, (i) each Eurodollar Rate
      Loan shall bear interest on the outstanding principal amount thereof for each
      Interest Period at a rate per annum equal to the Eurodollar Rate for such
      Interest Period plus the Applicable Rate; and (ii) each Base Rate
      Committed Loan shall bear interest on the outstanding principal amount thereof
      from the applicable borrowing date at a rate per annum equal to the Base Rate
      plus the Applicable Rate and (iii) each Swingline Loan shall bear
      interest on the outstanding principal amount thereof from the applicable
      borrowing date at a rate per annum equal to the Base Rate plus the Applicable
      Rate.

    

    (b) (i) If
      any amount of principal of any Loan is not paid when due (without regard to
      any
      applicable grace periods), whether at stated maturity, by acceleration or
      otherwise, such amount shall thereafter bear interest at a fluctuating interest
      rate per annum at all times equal to the Default Rate to the fullest extent
      permitted by applicable Laws.

    

    (ii) If
      any amount (other than principal of any Loan) payable by the Borrower under
      any
      Loan Document is not paid when due (without regard to any applicable grace
      periods), whether at stated maturity, by acceleration or otherwise, then, unless
      otherwise agreed to by the Required Lenders, such amount shall thereafter bear
      interest at a fluctuating interest rate per annum at all times equal to the
      Default Rate to the fullest extent permitted by applicable Laws.

    

    (iii) Accrued
      and unpaid interest on past due amounts (including interest on past due
      interest) shall be due and payable upon demand.

    

    (c) Interest
      on each Loan shall be due and payable in arrears on each Interest Payment Date
      applicable thereto and at such other times as may be specified herein. Interest
      hereunder shall be due and payable in accordance with the terms hereof before
      and after judgment, and before and after the commencement of any proceeding
      under any Debtor Relief Law.

    

    2.09 Fees.

    

    In
      addition to certain fees described in subsections (i) and (j) of
Section 2.03:

    

    (a) Commitment
      Fee. The Borrower shall pay to the Administrative Agent for the account of
      each Lender in accordance with its Applicable Percentage, a commitment fee
      accruing at the Applicable Rate in effect from time to time multiplied by
      the actual daily amount by which the Aggregate Revolving Commitments exceed
      the
      sum of (i) the Outstanding Amount of Revolving Loans and (ii) the
      Outstanding Amount of L/C Obligations. The commitment fee shall accrue at all
      times during the Availability Period, including at any time during which one
      or
      more of the conditions in Article V is not met, and shall be due and
      payable quarterly in arrears on the last Business Day of

     

    
      
         

      

      
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    each
      March, June, September and December, commencing with the first such date to
      occur after the Closing Date, and on the Maturity Date.

    

    (b) Other
      Fees. The Borrower shall pay (i) to the Arrangers and the
      Administrative Agent for their own respective accounts fees in the amounts
      and
      at the times specified in the Fee Letters, and (ii) to the Lenders such
      fees as shall have been separately agreed upon in writing in the amounts and
      at
      the times so specified. In each case such fees shall be fully earned when paid
      and shall not be refundable for any reason whatsoever.

    

    2.10 Computation
      of Interest and Fees.

    

    All
      computations of interest for Base Rate Loans when the Base Rate is determined
      by
      Bank of America’s “prime rate” shall be made on the basis of a year of 365 or
      366 days, as the case may be, and actual days elapsed. All other computations
      of
      fees and interest shall be made on the basis of a 360-day year and actual days
      elapsed (which results in more fees or interest, as applicable, being paid
      than
      if computed on the basis of a 365-day year). Interest shall accrue on each
      Loan
      for the day on which the Loan is made, and shall not accrue on a Loan, or any
      portion thereof, for the day on which the Loan or such portion is paid,
provided that any Loan that is repaid on the same day on which it is made
      shall, subject to Section 2.12(a), bear interest for one day. Each
      determination by the Administrative Agent of an interest rate or fee hereunder
      shall be conclusive and binding for all purposes, absent manifest
      error.

    

    2.11 Evidence
      of Debt.

    

    (a) The
      Credit Extensions made by each Lender shall be evidenced by one or more accounts
      or records maintained by such Lender and by the Administrative Agent in the
      ordinary course of business. The accounts or records maintained by the
      Administrative Agent and each Lender shall be conclusive absent demonstrable
      error of the amount of the Credit Extensions made by the Lenders to the Borrower
      and the interest and payments thereon. Any failure to so record or any error
      in
      doing so shall not, however, limit or otherwise affect the obligation of the
      Borrower hereunder to pay any amount owing with respect to the Obligations.
      In
      the event of any conflict between the accounts and records maintained by any
      Lender and the accounts and records of the Administrative Agent in respect
      of
      such matters, the accounts and records of the Administrative Agent shall control
      in the absence of manifest error. Upon the request of any Lender made through
      the Administrative Agent, the Borrower shall execute and deliver to such Lender
      (through the Administrative Agent) a promissory note which shall evidence such
      Lender’s Revolving Loans in addition to such accounts or records. Each such
      promissory note shall (i) in the case of Revolving Loans, be in the form of
      Exhibit C (a “Revolving Note”), and (ii) in the case of the
      Tranche B Term Loan, be in the form of Exhibit C-2 (a “Tranche B Term
      Note”). Each Lender may attach schedules to its Revolving Note and endorse
      thereon the date, Type (if applicable), amount and maturity of its Loans and
      payments with respect thereto.

    

    (b) In
      addition to the accounts and records referred to in subsection (a), each
      Lender and the Administrative Agent shall maintain in accordance with its usual
      practice accounts or records evidencing the purchases and sales by such Lender
      of participations in Letters of Credit

     

    
      
         

      

      
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    and
      Swingline Loans. In the event of any conflict between the accounts and records
      maintained by the Administrative Agent and the accounts and records of any
      Lender in respect of such matters, the accounts and records of the
      Administrative Agent shall control in the absence of demonstrable
      error.

    

    2.12 Payments
      Generally; Administrative Agent’s
      Clawback.

    

    (a) General.
      All payments to be made by the Borrower shall be made without deduction for
      any
      counterclaim, defense, recoupment or setoff. Except as otherwise expressly
      provided herein, all payments by the Borrower hereunder shall be made to the
      Administrative Agent, for the account of the respective Lenders to which such
      payment is owed, at the Administrative Agent’s Office in Dollars and in
      immediately available funds not later than 2:00 p.m. on the date specified
      herein. The Administrative Agent will promptly distribute to each Lender its
      Applicable Percentage (or other applicable share as provided herein) of such
      payment in like funds as received by wire transfer to such Lender’s Lending
      Office. All payments received by the Administrative Agent after 4:00 p.m.
      may, in the discretion of the Administrative Agent, be deemed to have been
      received on the next succeeding Business Day and any applicable interest or
      fee
      shall continue to accrue. If any payment to be made by the Borrower shall come
      due on a day other than a Business Day, payment shall be made on the next
      following Business Day, and such extension of time shall be reflected in
      computing interest or fees, as the case may be.

    

    (b) (i) Funding
      by Lenders; Presumption by Administrative Agent. Unless the Administrative
      Agent shall have received notice from a Lender prior to the proposed date of
      any
      Committed Borrowing of Eurodollar Rate Loans (or, in the case of any Committed
      Borrowing of Base Rate Loans, prior to 12:00 noon on the date of such Committed
      Borrowing) that such Lender will not make available to the Administrative Agent
      such Lender’s share of such Committed Borrowing, the Administrative Agent may
      assume that such Lender has made such share available on such date in accordance
      with Section 2.02 (or, in the case of a Committed Borrowing of Base
      Rate Loans, that such Lender has made such share available in accordance with
      and at the time required by Section 2.02) and may, in reliance upon
      such assumption, make available to the Borrower a corresponding amount. In
      such
      event, if a Lender has not in fact made its share of the applicable Committed
      Borrowing available to the Administrative Agent, then the applicable Lender
      and
      the Borrower severally agree to pay to the Administrative Agent forthwith on
      demand such corresponding amount in immediately available funds with interest
      thereon, for each day from and including the date such amount is made available
      to the Borrower to but excluding the date of payment to the Administrative
      Agent, at (A) in the case of a payment to be made by such Lender, the
      greater of the Federal Funds Rate and a rate determined by the Administrative
      Agent in accordance with banking industry rules on interbank compensation and
      (B) in the case of a payment to be made by the Borrower, the interest rate
      applicable to Base Rate Loans. If the Borrower and such Lender shall pay such
      interest to the Administrative Agent for the same or an overlapping period,
      the
      Administrative Agent shall promptly remit to the Borrower the amount of such
      interest paid by the Borrower for such period. If such Lender pays its share
      of
      the applicable Committed Borrowing to the Administrative Agent, then the amount
      so paid shall constitute such Lender’s Loan included in such Committed
      Borrowing. Any

     

    
      
         

      

      
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    payment
      by the Borrower shall be without prejudice to any claim the Borrower may have
      against a Lender that shall have failed to make such payment to the
      Administrative Agent.

    

    (ii) Payments
      by Borrower; Presumptions by Administrative Agent. Unless the Administrative
      Agent shall have received notice from the Borrower prior to the date on which
      any payment is due to the Administrative Agent for the account of the Lenders
      or
      the L/C Issuers hereunder that the Borrower will not make such payment, the
      Administrative Agent may assume that the Borrower has made such payment on
      such
      date in accordance herewith and may, in reliance upon such assumption,
      distribute to the Lenders or the L/C Issuers, as the case may be, the amount
      due. In such event, if the Borrower has not in fact made such payment, then
      each
      of the Lenders or L/C Issuers, as the case may be, severally agrees to repay
      to
      the Administrative Agent forthwith on demand the amount so distributed to such
      Lender or such L/C Issuer, in immediately available funds 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, at the greater of
      the
      Federal Funds Rate and a rate determined by the Administrative Agent in
      accordance with banking industry rules on interbank compensation.

    

    A
      notice
      of the Administrative Agent to any Lender or the Borrower with respect to any
      amount owing under this subsection (b) shall be conclusive, absent manifest
      error.

    

    (c) Failure
      to Satisfy Conditions Precedent. If any Lender makes available to the
      Administrative Agent funds for any Loan to be made by such Lender as provided
      in
      the foregoing provisions of this Article II, and such funds are not
      made available to the Borrower by the Administrative Agent because the
      conditions to the applicable Credit Extension set forth in Article V
      are not satisfied or waived in accordance with the terms hereof, the
      Administrative Agent shall return such funds (in like funds as received from
      such Lender) to such Lender, without interest.

    

    (d) Obligations
      of Lenders Several. The obligations of the Lenders hereunder to make
      Committed Loans and to fund participations in Letters of Credit and Swingline
      Loans and to make payments pursuant to Section 11.04(c) are several
      and not joint. The failure of any Lender to make any Committed Loan, to fund
      any
      such participation or to make any payment under Section 11.04(c) on
      any date required hereunder shall not relieve any other Lender of its
      corresponding obligation to do so on such date, and no Lender shall be
      responsible for the failure of any other Lender to so make its Committed Loan,
      purchase its participation or make its payment pursuant to
Section 11.04(c).

    

    (e) Funding
      Source. Nothing herein shall be deemed to obligate any Lender to obtain the
      funds for any Loan in any particular place or manner or to constitute a
      representation by any Lender that it has obtained or will obtain the funds
      for
      any Loan in any particular place or manner.

    

    2.13 Sharing
      of Payments by Lenders.

    

    If
      any
      Lender shall, by exercising any right of setoff or counterclaim or otherwise,
      obtain payment in respect of any principal of or interest on any of the
      Committed Loans made by it, or

     

    
      
         

      

      
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    the
      participations in L/C Obligations or in Swingline Loans held by it resulting
      in
      such Lender’s receiving payment of a proportion of the aggregate amount of such
      Committed Loans or participations and accrued interest thereon greater than
      its
pro rata share thereof as provided herein, then the Lender
      receiving such greater proportion shall (a) notify the Administrative Agent
      of such fact, and (b) purchase (for cash at face value) participations in
      the Loans and subparticipations in L/C Obligations and Swingline Loans of the
      other Lenders, or make such other adjustments as shall be equitable, so that
      the
      benefit of all such payments shall be shared by the Lenders ratably in
      accordance with the aggregate amount of principal of and accrued interest on
      their respective Committed Loans and other amounts owing them, provided
      that:

    

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

    

    (ii) the
      provisions of this Section shall not be construed to apply to (x) any
      payment made by the Borrower pursuant to and in accordance with the express
      terms of this Agreement or (y) any payment obtained by a Lender as
      consideration for the assignment of or sale of a participation in any of its
      Committed Loans or subparticipations in L/C Obligations or Swingline Loans
      to
      any assignee or participant, other than to the Borrower or any Subsidiary
      thereof (as to which the provisions of this Section shall apply).

    

    Each
      Loan
      Party 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 Loan Party rights of setoff
      and counterclaim with respect to such participation as fully as if such Lender
      were a direct creditor of such Loan Party in the amount of such
      participation.

    

    

    ARTICLE
      III

    TAXES,
      YIELD PROTECTION AND ILLEGALITY

    

    3.01 Taxes.

    

    (a) Payments
      Free of Taxes. Any and all payments by or on account of any obligation of
      the Borrower hereunder or under any other Loan Document shall be made free
      and
      clear of and without reduction or withholding for any Indemnified Taxes or
      Other
      Taxes, provided that if the Borrower shall be required by applicable law
      to deduct any Indemnified Taxes (including any Other Taxes) from such payments,
      then (i) the sum payable shall be increased as necessary so that after
      making all required deductions (including deductions applicable to additional
      sums payable under this Section) the Administrative Agent, Lender or L/C Issuer,
      as the case may be, receives an amount equal to the sum it would have received
      had no such deductions been made, (ii) the Borrower shall make such
      deductions and (iii) the Borrower shall timely pay the full amount deducted
      to the relevant Governmental Authority in accordance with applicable
      law.

    
 

    
      
         

      

      
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    (b) Payment
      of Other Taxes by the Borrower. Without limiting the provisions of
      subsection (a) above, the Borrower shall timely pay any Other Taxes to the
      relevant Governmental Authority in accordance with applicable law.

    

    (c) Indemnification
      by the Borrower. The Borrower shall indemnify the Administrative Agent, each
      Lender and each L/C Issuer, within 10 days after demand therefor, for the full
      amount of any Indemnified Taxes or Other Taxes (including Indemnified Taxes
      or
      Other Taxes imposed or asserted on or attributable to amounts payable under
      this
      Section) paid by the Administrative Agent, such Lender or such L/C Issuer,
      as
      the case may be, and any penalties, interest and reasonable expenses arising
      therefrom or with respect thereto, whether or not such Indemnified Taxes or
      Other Taxes were correctly or legally imposed or asserted by the relevant
      Governmental Authority. A certificate as to the amount of such payment or
      liability and setting forth in reasonable detail the calculation and basis
      for
      such payment or liability delivered to the Borrower by a Lender or an L/C Issuer
      (with a copy to the Administrative Agent), or by the Administrative Agent on
      its
      own behalf or on behalf of a Lender or an L/C Issuer, shall be conclusive absent
      manifest error.

    

    (d) Evidence
      of Payments. As soon as practicable after any payment of Indemnified Taxes
      or Other Taxes by the Borrower to a Governmental Authority, the Borrower 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.

    

    (e) Status
      of Lenders. Any Foreign Lender that is entitled to an exemption from or
      reduction of withholding tax under the law of the jurisdiction in which the
      Borrower is resident for tax purposes, or any treaty to which such jurisdiction
      is a party, with respect to payments hereunder or under any other Loan Document
      shall deliver to the Borrower (with a copy to the Administrative Agent), at
      the
      time or times prescribed by applicable law or reasonably requested by the
      Borrower or the Administrative Agent, such properly completed and executed
      documentation prescribed by applicable law as will permit such payments to
      be
      made without withholding or at a reduced rate of withholding. In addition,
      any
      Lender, if requested by the Borrower or the Administrative Agent, shall deliver
      such other documentation prescribed by applicable law or reasonably requested
      by
      the Borrower or the Administrative Agent as will enable the Borrower or the
      Administrative Agent to determine whether or not such Lender is subject to
      backup withholding or information reporting requirements. Each Lender shall
      promptly notify the Borrower at any time it determines that it is no longer
      in a
      position to provide any such previously delivered documentation to the
      Borrower.

     

    
      
         

      

      
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    Without
      limiting the generality of the foregoing, in the event that the Borrower is
      resident for tax purposes in the United States, any Foreign Lender shall deliver
      to the Borrower and the Administrative Agent (in such number of copies as shall
      be requested by the recipient) on or prior to the date on which such Foreign
      Lender becomes a Lender under this Agreement (and from time to time thereafter
      upon the request of the Borrower or the Administrative Agent, but only if such
      Foreign Lender is legally entitled to do so), whichever of the following is
      applicable:

    

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

    

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

    

    (iii) in
      the case of a Foreign Lender claiming the benefits of the exemption for
      portfolio interest under section 881(c) of the Code, (x) a certificate to
      the effect that such Foreign 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
      Borrower within the meaning of section 881(c)(3)(B) of the Code, or (C) a
“controlled foreign corporation” described in section 881(c)(3)(C) of the Code
      and (y) duly completed copies of Internal Revenue Service Form W-8BEN,
      or

    

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

    

    Each
      Lender and L/C Issuer that is a United States Person, as defined in Section
      7701(a)(30) of the Code (other than Persons that are corporations or otherwise
      exempt from United States backup withholding Tax), shall deliver at the time(s)
      and in the manner(s) prescribed by applicable law, to the Borrower and the
      Administrative Agent (as applicable), a properly completed and duly executed
      United States Internal Revenue Form W-9 or any successor form, certifying that
      such Person is exempt from United States backup withholding Tax on payments
      made
      hereunder.

    

    (f) Treatment
      of Certain Refunds. If the Administration Agent, any Lender or any L/C
      Issuer shall become aware that it is entitled to claim a refund from a
      Governmental Authority in respect of the Indemnified Taxes or Other Taxes paid
      by the Borrower pursuant to this Section 3.01, the Administrative Agent or
      such
      Lender or such L/C Issuer, as applicable, shall promptly notify the Borrower
      of
      the availability of such refund claim and, if the Administrative Agent or such
      Lender or L/C Issuer, as applicable, determines in good faith that making a
      claim for a refund will not have an adverse effect on its Taxes or business
      operations, shall, within 60 days after receipt of a request by the Borrower,
      make a claim to such Governmental Authority for such refund. If the
      Administrative Agent, any Lender or any L/C Issuer determines, in its sole
      discretion, that it has received a refund of any Taxes or Other Taxes as to
      which it has been indemnified by the Borrower or with respect to which the
      Borrower has paid additional amounts pursuant to this Section, it shall pay
      to
      the Borrower an amount equal to

     

    
      
         

      

      
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    such
      refund (but only to the extent of indemnity payments made, or additional amounts
      paid, by the Borrower under this Section with respect to the Taxes or Other
      Taxes giving rise to such refund), net of all out-of-pocket expenses of the
      Administrative Agent, such Lender or such L/C Issuer, as the case may be, and
      without interest (other than any interest paid by the relevant Governmental
      Authority with respect to such refund), provided that the Borrower, upon
      the request of the Administrative Agent, such Lender or such L/C Issuer, agrees
      to repay the amount paid over to the Borrower (plus any penalties, interest
      or
      other charges imposed by the relevant Governmental Authority) to the
      Administrative Agent, such Lender or such L/C Issuer in the event the
      Administrative Agent, such Lender or such L/C Issuer is required to repay such
      refund to such Governmental Authority. This subsection shall not be construed
      to
      require the Administrative Agent, any Lender or such L/C Issuer to make
      available its tax returns (or any other information relating to its taxes that
      it deems confidential) to the Borrower or any other Person.

    

    3.02 Illegality.

    

    If
      any
      Lender determines that any Law has made it unlawful, or that any Governmental
      Authority has asserted that it is unlawful, for any Lender or its applicable
      Lending Office to make, maintain or fund Eurodollar Rate Loans, or to determine
      or charge interest rates based upon the Eurodollar Rate, or any Governmental
      Authority has imposed material restrictions on the authority of such Lender
      to
      purchase or sell, or to take deposits of, Dollars in the London interbank
      market, then, on notice thereof by such Lender to the Borrower through the
      Administrative Agent, any obligation of such Lender to make or continue
      Eurodollar Rate Loans or to convert Base Rate Loans to Eurodollar Rate Loans
      shall be suspended until such Lender notifies the Administrative Agent and
      the
      Borrower that the circumstances giving rise to such determination no longer
      exist. Upon receipt of such notice, the Borrower shall, upon demand from such
      Lender (with a copy to the Administrative Agent), prepay or, if applicable,
      convert all Eurodollar Rate Loans of such Lender to Base Rate Loans, either
      on
      the last day of the Interest Period therefor, if such Lender may lawfully
      continue to maintain such Eurodollar Rate Loans to such day, or immediately,
      if
      such Lender may not lawfully continue to maintain such Eurodollar Rate Loans.
      Upon any such prepayment or conversion, the Borrower shall also pay accrued
      interest on the amount so prepaid or converted.

    

    3.03 Inability
      to Determine Rates.

    

    If
      the
      Required Lenders determine that for any reason in connection with any request
      for a Eurodollar Rate Loan or a conversion to or continuation thereof that
      (a) Dollar deposits are not being offered to banks in the London interbank
      eurodollar market for the applicable amount and Interest Period of such
      Eurodollar Rate Loan, (b) adequate and reasonable means do not exist for
      determining the Eurodollar Rate for any requested Interest Period with respect
      to a proposed Eurodollar Rate Loan, or (c) the Eurodollar Rate for any
      requested Interest Period with respect to a proposed Eurodollar Rate Loan does
      not adequately and fairly reflect the cost to such Lenders of funding such
      Loan,
      the Administrative Agent will promptly so notify the Borrower and each Lender.
      Thereafter, the obligation of the Lenders to make or continue into new interest
      periods Eurodollar Rate Loans shall be suspended until the Administrative Agent
      (in its sole discretion or upon the instruction of the Required Lenders) revokes
      such notice. Upon receipt of such notice,

     

    
      
         

      

      
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    the
      Borrower may revoke any pending request for a Borrowing of, conversion to or
      continuation of Eurodollar Rate Loans or, failing that, will be deemed to have
      converted such request into a request for a Borrowing of Base Rate Loans in
      the
      amount specified therein.

    

    3.04 Increased
      Costs.

    

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

    

    (i) impose,
      modify or deem applicable any reserve, special deposit, compulsory loan,
      insurance charge or similar requirement against assets of, deposits with or
      for
      the account of, or credit extended or participated in by, any Lender (except
      any
      reserve requirement contemplated by Section 3.04(e)) or any L/C
      Issuer;

    

    (ii) subject
      any Lender or any L/C Issuer to any tax of any kind whatsoever with respect
      to
      this Agreement, any Letter of Credit, any participation in a Letter of Credit
      or
      any Eurodollar Rate Loan made by it, or change the basis of taxation of payments
      to such Lender or such L/C Issuer in respect thereof (except for Indemnified
      Taxes or Other Taxes covered by Section 3.01 and the imposition of,
      or any change in the rate of, any Excluded Tax payable by such Lender or such
      L/C Issuer); or

    

    (iii) impose
      on any Lender or such L/C Issuer or the London interbank market any other
      condition, cost or expense affecting this Agreement or Eurodollar Rate Loans
      made by such Lender or any Letter of Credit or participation
      therein;

    

    and
      the
      result of any of the foregoing shall be to increase the cost to such Lender
      of
      making or maintaining any Eurodollar Rate Loan (or of maintaining its obligation
      to make any such Loan), or to increase the cost to such Lender or such L/C
      Issuer of participating in, issuing or maintaining any Letter of Credit (or
      of
      maintaining its obligation to participate in or to issue any Letter of Credit),
      or to reduce the amount of any sum received or receivable by such Lender or
      such
      L/C Issuer hereunder (whether of principal, interest or any other amount) then
      the Borrower will pay to such Lender or such L/C Issuer, as the case may be,
      such additional amount or amounts as will compensate such Lender or such L/C
      Issuer, as the case may be, for such additional costs incurred or reduction
      suffered, in each case upon receipt of a written request of such Lender or
      such
      L/C Issuer showing the computation of such amount in reasonable detail and
      certifying that it is the general practice of such Lender or such L/C Issuer
      to
      charge such amount to its borrowers.

    

    (b) Capital
      Requirements. If any Lender or any L/C Issuer determines that any Change in
      Law affecting such Lender or such L/C Issuer or any Lending Office of such
      Lender or such Lender’s or such L/C Issuer’s holding company, if any, regarding
      capital requirements has or would have the effect of reducing the rate of return
      on such Lender’s or such L/C Issuer’s capital or on the capital of such Lender’s
      or such L/C Issuer’s holding company, if any, as a consequence of this
      Agreement, the Commitments of such Lender or the Loans made by, or
      participations in Letters of Credit held by, such Lender, or the Letters of
      Credit issued by such L/C Issuer, to a level below that which such Lender or
      such L/C Issuer or such Lender’s or such L/C Issuer’s holding company could have
      achieved but for such Change in Law (taking into

     

    
      
         

      

      
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    consideration
      such Lender’s or such L/C Issuer’s policies and the policies of such Lender’s or
      such L/C Issuer’s holding company with respect to capital adequacy), then from
      time to time the Borrower will pay to such Lender or such L/C Issuer, as the
      case may be, such additional amount or amounts as will compensate such Lender
      or
      such L/C Issuer or such Lender’s or such L/C Issuer’s holding company for any
      such reduction suffered, in each case upon receipt of a written request of
      such
      Lender or L/C Issuer showing the computation of such amount in reasonable detail
      and certifying that it is the general practice of such Lender or L/C Issuer
      to
      charge such amount to its borrowers.

    

    (c) Certificates
      for Reimbursement. A certificate of a Lender or an L/C Issuer setting forth
      the amount or amounts necessary to compensate such Lender or such L/C Issuer
      or
      its holding company, as the case may be, as specified in subsection (a) or
      (b) of this Section 3.04, showing the computation of such amount or
      amounts in reasonable detail and delivered to the Borrower shall be conclusive
      absent demonstrable error. The Borrower shall pay such Lender or such L/C
      Issuer, as the case may be, the amount shown as due on any such certificate
      within 10 days after receipt thereof.

    

    (d) Delay
      in Requests. Failure or delay on the part of any Lender or any L/C Issuer to
      demand compensation pursuant to the foregoing provisions of this Section shall
      not constitute a waiver of such Lender’s or such L/C Issuer’s right to demand
      such compensation, provided that the Borrower shall not be required to
      compensate a Lender or such L/C Issuer pursuant to the foregoing provisions
      of
      this Section for any increased costs incurred or reductions suffered more than
      six months prior to the date that such Lender or such L/C Issuer, 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 such L/C Issuer’s intention to claim
      compensation therefor (except that, if the Change in Law giving rise to such
      increased costs or reductions is retroactive, then the six-month period referred
      to above shall be extended to include the period of retroactive effect
      thereof).

    

    (e) Reserves
      on Eurodollar Rate Loans. The Borrower shall pay to each Lender, as long as
      such Lender shall be required to maintain reserves with respect to liabilities
      or assets consisting of or including Eurocurrency funds or deposits (currently
      known as “Eurocurrency liabilities”), additional interest on the unpaid
      principal amount of each Eurodollar Rate Loan equal to the actual costs of
      such
      reserves allocated to such Loan by such Lender (as determined by such Lender
      reasonably and in good faith, which determination shall be conclusive absent
      demonstrable error), which shall be due and payable on each date on which
      interest is payable on such Loan, provided the Borrower shall have
      received at least 10 days’ prior notice (with a copy to the Administrative
      Agent) of such additional interest from such Lender together with a computation
      in reasonable detail of such additional interest. If a Lender fails to give
      notice 10 days prior to the relevant Interest Payment Date, such additional
      interest shall be due and payable 10 days from receipt of such
      notice.

     

    
 

    
      
         

      

      
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    3.05 Compensation
      for Losses; Breakage Payments.

    

    Upon
      demand of any Lender (with a copy to the Administrative Agent) from time to
      time, the Borrower shall promptly compensate such Lender for and hold such
      Lender harmless from any loss, cost or expense incurred by it as a result
      of:

    

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

    

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

    

    (c) any
      assignment of a Eurodollar Rate Loan on a day other than the last day of the
      Interest Period therefor as a result of a request by the Borrower pursuant
      to
Section 11.13;

    

    Such
      loss, cost or expense to any Lender shall be deemed to equal 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 Eurodollar 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
      offer were it to offer, at the commencement of such period, for dollar deposits
      of a comparable amount and period from major banks in the London interbank
      eurodollar market. A certificate of any Lender setting forth in reasonable
      detail any amount or amounts that such Lender is entitled to receive pursuant
      to
      this Section 3.05 shall be delivered to the Borrower and shall be
      conclusive absent demonstrable error. The Borrower shall also pay any customary
      administrative fees charged by the Administrative Agent in connection with
      the
      foregoing.

    

    3.06 Mitigation
      Obligations; Replacement of Lenders.

    

    (a) Designation
      of a Different Lending Office. If any Lender requests compensation under
Section 3.04, or the Borrower is required to pay any additional
      amount to any Lender or any Governmental Authority for the account of any Lender
      pursuant to Section 3.01, or if any Lender gives a notice pursuant
      to Section 3.02, 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 3.01 or 3.04, as the case may be, in the future, or
      eliminate the need for the notice pursuant to Section 3.02, as
      applicable, and (ii) in each case, would not subject such Lender to any
      unreimbursed cost or expense and would not otherwise be disadvantageous
      in

     

     

    
      
         

      

      
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    any
      significant respect to such Lender. The Borrower hereby agrees to pay all
      reasonable costs and expenses incurred by any Lender in connection with any
      such
      designation or assignment.

    

    (b) Replacement
      of Lenders. If any Lender requests compensation under
Section 3.04, or if the Borrower is required to pay any additional
      amount to any Lender or any Governmental Authority for the account of any Lender
      pursuant to Section 3.01, the Borrower may replace such Lender in
      accordance with Section 11.13.

    

    3.07 Survival.

    

    All
      of
      the Borrower’s obligations under this Article III shall survive
      termination of the Aggregate Revolving Commitments and repayment of all other
      Obligations hereunder.

    

    

    ARTICLE
      IV

    GUARANTY

    

    4.01 The
      Guaranty.

    

    Each
      of
      the Guarantors hereby jointly and severally guarantees to each Lender, each
      applicable Affiliate of a Lender that is party to a Secured Hedge Agreement
      or a
      Treasury Management Agreement (and each Person (and/or each applicable Affiliate
      thereof) that ceases to be a Lender as a result of an assignment in accordance
      with the terms of Section 11.06 or Section 11.13 or an
      amendment of this agreement in accordance with the terms of
Section 11.01 that is party to a Secured Hedge Agreement), the
      Collateral Agent and the Administrative Agent as hereinafter provided, as
      primary obligor and not as surety, the prompt payment of the Obligations in
      full
      when due (whether at stated maturity, as a mandatory prepayment, by
      acceleration, as a mandatory cash collateralization or otherwise) strictly
      in
      accordance with the terms thereof. The Guarantors hereby further agree that
      if
      any of the Obligations are not paid in full when due (whether at stated
      maturity, as a mandatory prepayment, by acceleration, as a mandatory cash
      collateralization or otherwise), the Guarantors will, jointly and severally,
      promptly pay the same, without any demand or notice whatsoever, and that in
      the
      case of any extension of time of payment or renewal of any of the Obligations,
      the same will be promptly paid in full when due (whether at extended maturity,
      as a mandatory prepayment, by acceleration, as a mandatory cash
      collateralization or otherwise) in accordance with the terms of such extension
      or renewal.

    

    Notwithstanding
      any provision to the contrary contained herein or in any other of the Loan
      Documents or Secured Hedge Agreements or Treasury Management Agreements, the
      obligations of each Guarantor under this Agreement and the other Loan Documents
      shall be limited to an aggregate amount equal to the largest amount that would
      not render such obligations subject to avoidance under the Debtor Relief Laws
      or
      any comparable provisions of any applicable state law.

    
 

    
      
         

      

      
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    4.02 Obligations
      Unconditional.

    

    The
      obligations of the Guarantors under Section 4.01 are joint and
      several, absolute and unconditional, irrespective of the value, genuineness,
      validity, regularity or enforceability of any of the Loan Documents, Secured
      Hedge Agreements or Treasury Management Agreements, or any other agreement
      or
      instrument referred to therein, or any substitution, release, impairment or
      exchange of any other guarantee of or security for any of the Obligations,
      and,
      to the fullest extent permitted by applicable law, irrespective of any other
      circumstance whatsoever which might otherwise constitute a legal or equitable
      discharge or defense of a surety or guarantor, it being the intent of this
      Section 4.02 that the obligations of the Guarantors hereunder shall
      be absolute and unconditional under any and all circumstances. Each Guarantor
      agrees that its rights of subrogation, indemnity, reimbursement or contribution
      against the Borrower or any other Guarantor for amounts paid under this
Article IV shall not be enforceable until, and shall be subordinate
      and subject in right of payment to, the Obligations, until such time as the
      Obligations have been Fully Satisfied. Without limiting the generality of the
      foregoing, it is agreed that, to the fullest extent permitted by law, the
      occurrence of any one or more of the following shall not alter or impair the
      liability of any Guarantor hereunder which shall remain absolute and
      unconditional as described above:

    

    (a) at
      any time or from time to time, without notice to any Guarantor, the time for
      any
      performance of or compliance with any of the Obligations shall be extended,
      or
      such performance or compliance shall be waived;

    

    (b) any
      of the acts mentioned in any of the provisions of any of the Loan Documents,
      any
      Secured Hedge Agreement or any Treasury Management Agreement between any
      Consolidated Party and any Lender, or any Affiliate of a Lender, or any other
      agreement or instrument referred to in the Loan Documents or such Secured Hedge
      Agreements shall be done or omitted;

    

    (c) the
      maturity of any of the Obligations shall be accelerated, or any of the
      Obligations shall be modified, supplemented or amended in any respect, or any
      right under any of the Loan Documents, any Secured Hedge Agreement or any
      Treasury Management Agreement between any Consolidated Party and any Lender,
      or
      any Affiliate of a Lender, or any other agreement or instrument referred to
      in
      the Loan Documents or such Secured Hedge Agreements or such Treasury Management
      Agreements shall be waived or any other guarantee of any of the Obligations
      or
      any security therefor shall be released, impaired or exchanged in whole or
      in
      part or otherwise dealt with;

    

    (d) any
      Lien granted to, or in favor of, the Administrative Agent, the Collateral Agent
      or any Lender or Lenders as security for any of the Obligations shall fail
      to
      attach or be perfected; or

    

    (e) any
      of the Obligations shall be determined to be void or voidable (including,
      without limitation, for the benefit of any creditor of any Guarantor) or shall
      be subordinated to the claims of any Person (including, without limitation,
      any
      creditor of any Guarantor).

     

     

    
      
         

      

      
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    With
      respect to its obligations hereunder, each Guarantor hereby expressly waives
      diligence, presentment, demand of payment, protest and all notices whatsoever,
      and any requirement that the Administrative Agent, the Collateral Agent or
      any
      Lender exhaust any right, power or remedy or proceed against any Person under
      any of the Loan Documents, any Secured Hedge Agreement or any Treasury
      Management Agreement between any Consolidated Party and any Lender, or any
      Affiliate of a Lender, or any other agreement or instrument referred to in
      the
      Loan Documents or such Secured Hedge Agreements or such Treasury Management
      Agreements, or against any other Person under any other guarantee of, or
      security for, any of the Obligations.

    

    4.03 Reinstatement.

    

    The
      obligations of the Guarantors under this Article IV shall be
      automatically reinstated if and to the extent that for any reason any payment
      by
      or on behalf of any Person in respect of the Obligations is rescinded or must
      be
      otherwise restored by any holder of any of the Obligations, whether as a result
      of any proceedings in bankruptcy or reorganization or otherwise, and each
      Guarantor agrees that it will indemnify the Administrative Agent, the Collateral
      Agent and each Lender on demand for all reasonable costs and expenses
      (including, without limitation, fees and expenses of counsel) incurred by the
      Administrative Agent, the Collateral Agent or such Lender in connection with
      such rescission or restoration, including any such costs and expenses incurred
      in defending against any claim alleging that such payment constituted a
      preference, fraudulent transfer or similar payment under any bankruptcy,
      insolvency or similar law.

    

    4.04 Certain
      Additional Waivers.

    

    Each
      Guarantor agrees that such Guarantor shall have no right of recourse to security
      for the Obligations, except through the exercise of rights of subrogation
      pursuant to Section 4.02 and through the exercise of rights of
      contribution pursuant to Section 4.06.

    

    4.05 Remedies.

    

    The
      Guarantors agree that, to the fullest extent permitted by law, as between the
      Guarantors, on the one hand, and the Administrative Agent, the Collateral Agent
      and the Lenders, on the other hand, the Obligations may be declared to be
      forthwith due and payable as provided in Section 9.02 (and shall be
      deemed to have become automatically due and payable in the circumstances
      provided in said Section 9.02) for purposes of
Section 4.01 notwithstanding any stay, injunction or other
      prohibition preventing such declaration (or preventing the Obligations from
      becoming automatically due and payable) as against any other Person and that,
      in
      the event of such declaration (or the Obligations being deemed to have become
      automatically due and payable), the Obligations (whether or not due and payable
      by any other Person) shall forthwith become due and payable by the Guarantors
      for purposes of Section 4.01. The Guarantors acknowledge and agree
      that their obligations hereunder are secured in accordance with the terms of
      the
      Collateral Documents and that the Lenders may exercise their remedies thereunder
      in accordance with the terms thereof.

    
 

    
      
         

      

      
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    4.06 Rights
      of Contribution.

    

    The
      Guarantors hereby agree as among themselves that, in connection with payments
      made hereunder, each Guarantor shall have a right of contribution from each
      other Guarantor in accordance with applicable Law. Such contribution rights
      shall be subordinate and subject in right of payment to the Obligations until
      such time as the Obligations have been Fully Satisfied, and none of the
      Guarantors shall exercise any such contribution rights until the Obligations
      have been Fully Satisfied.

    

    4.07 Guarantee
      of Payment; Continuing Guarantee.

    

    The
      guarantee in this Article IV is a guaranty of payment and not of
      collection, is a continuing guarantee, and shall apply to all Obligations
      whenever arising.

    

    

    ARTICLE
      V

    CONDITIONS
      PRECEDENT TO CREDIT EXTENSIONS

    

    5.01 Conditions
      of Closing Date and Initial Credit
      Extension.

    

    The
      occurrence of the Closing Date, the effectiveness of this Agreement and the
      obligation of each L/C Issuer and each Lender to make its initial Credit
      Extension hereunder is subject to satisfaction of the following conditions
      precedent:

    

    (a) Loan
      Documents, Organization Documents, Etc. The Administrative Agent’s receipt
      of the following, each of which shall be originals or telecopies (followed
      promptly by originals) unless otherwise specified, each properly executed by
      a
      Responsible Officer of the signing Loan Party, each dated the Closing Date
      (or,
      in the case of certificates of governmental officials, a recent date before
      the
      Closing Date) and each in form and substance satisfactory to the Administrative
      Agent and each of the Lenders:

    

    (i) executed
      counterparts of this Agreement and the other Loan Documents;

    

    (ii) a
      Revolving Note executed by the Borrower in favor of each Lender, and a Swingline
      Note in favor of the Swingline Lender;

    

    (iii) copies
      of the Organization Documents of each Loan Party certified to be true and
      complete as of a recent date by the appropriate Governmental Authority of the
      state or other jurisdiction of its incorporation or organization, where
      applicable, and certified by a secretary or assistant secretary of such Loan
      Party to be true and correct as of the Closing Date;

    

    (iv) such
      certificates of resolutions or other action, incumbency certificates and/or
      other certificates of Responsible Officers of each Loan Party as

     

     

    
      
         

      

      
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    the
      Administrative Agent may require evidencing the identity, authority and capacity
      of each Responsible Officer thereof authorized to act as a Responsible Officer
      in connection with this Agreement and the other Loan Documents to which such
      Loan Party is a party; and

    

    (v) such
      documents and certifications as the Administrative Agent may reasonably require
      to evidence that each Loan Party is duly organized or formed, and is validly
      existing, in good standing and qualified to engage in business in the
      jurisdiction of its incorporation or organization.

    

    (b) Opinions
      of Counsel. The Administrative Agent shall have received, in each case dated
      as of the Closing Date and in form and substance reasonably satisfactory to
      the
      Administrative Agent:

    

    (i) a
      legal opinion of Cravath, Swaine & Moore LLP, special counsel for the Loan
      Parties; and

    

    (ii) a
      legal opinion of The Law Offices of Thomas W. Bosse, PLLC, Esq., special Ohio
      counsel for each Loan Party organized in the State of Ohio.

    

    (c) Personal
      Property Collateral. The Administrative Agent shall have
      received:

    

    (i) searches
      of Uniform Commercial Code filings in the jurisdiction of organization of each
      Loan Party and the chief executive office of each Loan Party, and copies of
      the
      financing statements on file in such jurisdictions and evidence that no Liens
      exist other than Permitted Liens;

    

    (ii) all
      certificates evidencing any certificated Capital Stock pledged to the Collateral
      Agent pursuant to the Security Agreement, together with duly executed in blank,
      undated stock powers attached thereto (unless, with respect to the pledged
      Capital Stock of any Foreign Subsidiary, such Capital Stock is uncertificated
      such stock powers are deemed unnecessary by the Administrative Agent in its
      reasonable discretion under the law of the jurisdiction of incorporation of
      such
      Person);

    

    (iii) searches
      of ownership of, and Liens on, Intellectual Property of each Loan Party in
      the
      appropriate governmental offices; and

    

    (iv) all
      instruments in the possession of any of the Loan Parties evidencing any
      Indebtedness owed by an Excluded Subsidiary to a Loan Party, together with
      such
      allonges or assignments as may be necessary to perfect the Collateral Agent’s
      security interest in such Indebtedness.

    

    (d) Officer’s
      Certificates. The Administrative Agent shall have received a certificate or
      certificates executed by a Responsible Officer of the Borrower as of the Closing
      Date, in form and substance satisfactory to the Administrative Agent, stating
      that

     

    
      
         

      

      
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     (i) the
      conditions specified in Section 5.02(a) and (b) have been
      satisfied, (ii) all governmental, shareholder and third party consents and
      approvals, if any, with respect to the Loan Documents and the transactions
      contemplated thereby have been obtained (and attaching copies thereof), and
      (iii) no action, suit, investigation or proceeding is pending or threatened
      in any court or before any arbitrator or governmental instrumentality that
      purports to affect any Loan Party or any transaction contemplated by the Loan
      Documents, if such action, suit, investigation or proceeding could reasonably
      be
      expected to have a Material Adverse Effect.

    

    (e) Solvency.
      The Administrative Agent shall have received a certificate executed by a
      Responsible Officer of the Borrower as of the Closing Date, in form and
      substance satisfactory to the Administrative Agent, regarding the Solvency
      of
      the Consolidated Parties on a consolidated basis.

    

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

    

    (g) Attorney
      Costs. The Borrower shall have paid all reasonable fees, charges and
      disbursements of counsel of the Administrative Agent to the extent invoiced
      prior to or on the Closing Date, plus such additional amounts of such
      fees, charges and disbursements as shall constitute its reasonable estimate
      of
      such fees, charges and disbursements incurred or to be incurred by it through
      the closing proceedings (provided that such estimate shall not thereafter
      preclude a final settling of accounts between the Borrower and the
      Administrative Agent).

    

    (h) Existing
      Credit Agreement. The Administrative Agent shall have received evidence, in
      form and substance satisfactory to the Administrative Agent, that the Existing
      Credit Agreement has been or concurrently with the Closing Date is being
      terminated and all Liens securing obligations under the Existing Credit
      Agreement have been or concurrently with the Closing Date are being
      released.

    

    (i) Proceeds
      of 2005 Senior Notes and the 2005 Junior Notes. The Borrower shall have
      contemporaneously received gross proceeds of at least $300,000,000 from the
      issuance by the Borrower of (i) the 2005 Senior Notes and (ii) the 2005 Junior
      Notes, in each case on the terms contemplated by the latest draft thereof posted
      to Intralinks prior to the Closing Date, with no changes therefrom other than
      such as the Administrative Agent shall have determined are not materially
      adverse to the Lenders. The Administrative Agent shall have received a copy,
      certified by a Responsible Officer of the Borrower as true and complete of
      the
      2005 Senior Note Indenture and the applicable supplement to the 2003 83⁄8% Junior
      Note Indenture, each as originally executed and delivered, together with all
      schedules and exhibits thereto.

    

    (j) Accuracy
      of Representations and Warranties. The representations and warranties of the
      Borrower and each other Loan Party contained in Article VI or any
      other Loan Document, or which are contained in any document furnished at any
      time

     

    
      
         

      

      
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    under
      or
      in connection herewith or therewith, shall be true and correct in all material
      respects on and as of the Closing Date.

    

    (k) No
      Default. No Default shall exist, or would result from, such proposed Credit
      Extension or from the application of the proceeds thereof.

    

    5.02 Conditions
      to all Credit Extensions.

    

    The
      obligation of each Lender to honor any Request for Credit Extension (other
      than
      a Committed Loan Notice requesting only a conversion of Committed Loans to
      the
      other Type, or a continuation of Eurodollar Rate Loans), is subject to the
      following conditions precedent:

    

    (a) The
      representations and warranties of the Borrower and each other Loan Party
      contained in Article VI or any other Loan Document, or which are
      contained in any certification or representation provided in writing to the
      Administrative Agent or the Collateral Agent by a Responsible Officer of a
      Loan
      Party under or in connection with this Agreement or any other Loan Document,
      shall be true and correct in all material respects on and as of the date of
      such
      Credit Extension, except to the extent that such representations and warranties
      specifically refer to an earlier date, in which case they shall be true and
      correct in all material respects as of such earlier date, and except that for
      purposes of this Section 5.02, the representations and warranties
      contained in subsections (a) and (b) of Section 6.05 shall be
      deemed to refer to the most recent statements furnished pursuant to
      clauses (a) and (b), respectively, of
Section 7.01.

    

    (b) No
      Default shall exist, or would result from, such proposed Credit
      Extension.

    

    (c) The
      Administrative Agent and, if applicable, the applicable L/C Issuer or the
      Swingline Lender shall have received a Request for Credit Extension in
      accordance with the requirements hereof.

    

    Each
      Request for Credit Extension (other than a Committed Loan Notice requesting
      only
      a conversion of Committed Loans to the other Type or a continuation of
      Eurodollar Rate Loans) submitted by the Borrower shall be deemed to be a
      representation and warranty that the conditions specified in
Section 5.02(a), (b) and (c) have been satisfied on
      and as of the date of the applicable Credit Extension.

    

    

    ARTICLE
      VI

    REPRESENTATIONS
      AND WARRANTIES

    

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

    
 

    
      
         

      

      
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    6.01 Existence,
      Qualification and Power.

    

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

    

    6.02 Authorization;
      No Contravention.

    

    The
      execution, delivery and performance by each Loan Party of each Loan Document
      to
      which such Person is party, have been duly authorized by all necessary corporate
      or other organizational action, and do not and will not (a) contravene the
      terms of any of such Person’s Organization Documents; (b) conflict with or
      result in any breach or contravention of, or result in or require the creation
      of any Lien under, or require any payment to be made under (i) except for
      Liens under the Loan Documents and the lien creation requirements of the 1993
      Senior Note Indenture, any Material Contract to which such
      Person is a party or affecting such Person or the Property of such Person or
      any
      of its Subsidiaries or (ii) any order, injunction, writ or decree of any
      Governmental Authority or any arbitral award to which such Person or its
      property is subject; or (c) violate any Law (including, without limitation,
      Regulation U or Regulation X issued by the FRB). Each Loan Party and
      each Subsidiary thereof is in compliance in all material respects with all
      Contractual Obligations, except to the extent that failure to do so could not
      reasonably be expected to have a Material Adverse Effect

    

    6.03 Governmental
      Authorization; Other Consents.

    

    No
      approval, consent, exemption, authorization, or other action by, or notice
      to,
      or filing with, any Governmental Authority or any other Person is necessary
      or
      required in connection with the execution, delivery or performance by, or
      enforcement against, any Loan Party of this Agreement or any other Loan
      Document, except for (a) consents, authorizations, notices and filings
      described in Schedule 6.03, all of which have been obtained or made
      or have the status described in such Schedule 6.03 and
      (b) filings to perfect the Liens created by the Collateral
      Documents.

    

    6.04 Binding
      Effect.

    

    This
      Agreement has been, and each other Loan Document, when delivered hereunder,
      will
      have been, duly executed and delivered by each Loan Party that is party thereto.
      This Agreement constitutes, and each other Loan Document when so delivered
      will
      constitute, a legal, valid and binding obligation of such Loan Party,
      enforceable against each Loan Party that is party thereto in accordance with
      its
      terms except as enforceability may be limited by applicable

     

    
      
         

      

      
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    Debtor
      Relief Laws and by general equitable principles (whether enforcement is sought
      by proceedings in equity or at law).

    

    6.05 Financial
      Statements; No Material Adverse
      Effect.

    

    (a) The
      Audited Financial Statements (i) were prepared in accordance with GAAP
      consistently applied throughout the period covered thereby, except as otherwise
      expressly noted therein; (ii) fairly present the financial condition of the
      Consolidated Parties as of the date thereof and their results of operations
      for
      the period covered thereby in accordance with GAAP consistently applied
      throughout the period covered thereby, except as otherwise expressly noted
      therein; and (iii) show all material indebtedness and other liabilities,
      direct or contingent, of the Consolidated Parties as of the date thereof,
      including liabilities for taxes, material commitments and Indebtedness, in
      each
      case to the extent required to be disclosed by GAAP.

    

    (b) The
      unaudited consolidated and consolidating balance sheet of the Consolidated
      Parties dated September 30, 2004 and the related consolidated and
      consolidating statements of income or operations, shareholders’ equity and cash
      flows for the fiscal quarter ended on that date (i) were prepared in
      accordance with GAAP consistently applied throughout the period covered thereby,
      except as otherwise expressly noted therein, and (ii) fairly present the
      financial condition of the Consolidated Parties as of the date thereof and
      their
      results of operations for the period covered thereby, subject, in the case
      of
      clauses (i) and (ii), to the absence of footnotes and to normal year-end
      audit adjustments.

    

    (c) During
      the period from December 31, 2003 to and including the Closing Date,
      there has been no sale, transfer or other disposition by any Consolidated Party
      of any material part of the business or Property of the Consolidated Parties,
      taken as a whole, and no purchase or other acquisition by any of them of any
      business or property (including any Capital Stock of any other Person) material
      in relation to the consolidated financial condition of the Consolidated Parties,
      taken as a whole, in each case, which is not reflected in the foregoing
      financial statements or in the notes thereto and has not otherwise been
      disclosed in writing to the Lenders on or prior to the Closing
      Date.

    

    (d) The
      financial statements delivered pursuant to Section 7.01(a) and
(b) have been prepared in accordance with GAAP (except as may
      otherwise
      be permitted under Section 7.01(a) and (b)) and present
      fairly (on the basis disclosed in the footnotes to such financial statements)
      the consolidated (and, in the case of the annual statements, consolidating)
      financial condition, results of operations and cash flows of the Consolidated
      Parties as of such date and for such periods.

    

    (e) There
      has not occurred a material adverse change in the business, assets, properties,
      liabilities (actual or contingent), operations or condition (financial or
      otherwise) of the Borrower and its Subsidiaries, taken as a whole, since the
      date of the Audited Financial Statements.

    

     

    
      
         

      

      
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    6.06 Litigation.

    

    There
      are
      no actions, suits, proceedings, claims or disputes pending or, to the knowledge
      of the Loan Parties, threatened or contemplated, at law, in equity, in
      arbitration or before any Governmental Authority, by or against any Consolidated
      Party or against any of its properties or revenues that (a) purport to
      affect or pertain to this Agreement or any other Loan Document, or any of the
      transactions the consummation of which is a condition precedent to the Closing
      Date, or (b) either individually or in the aggregate, could reasonably be
      expected to have a Material Adverse Effect.

    

    6.07 No
      Default.

    

    No
      Default has occurred and is continuing or would result from the consummation
      of
      the transactions contemplated by this Agreement or any other Loan
      Document.

    

    6.08 Ownership
      of Property; Liens.

    

    Each
      Consolidated Party has good record and marketable title in fee simple to, or
      valid leasehold interests in, or other applicable rights in, all real property
      necessary or used in the ordinary conduct of its business, except for such
      defects in title as could not, individually or in the aggregate, reasonably
      be
      expected to have a Material Adverse Effect. The property of the Consolidated
      Parties is subject to no Liens, other than Permitted Liens.

    

    6.09 Environmental
      Compliance.

    

    Except
      in
      each case as where the existence and/or occurrence of any of the following
      could
      not reasonably be expected to have a Material Adverse Effect:

    

    (a) All
      operations of each Consolidated Party at the Real Properties are in compliance
      with all applicable Environmental Laws, no Consolidated Party has violated
      any
      Environmental Law with respect to the Real Properties or the Businesses, no
      Consolidated Party has caused, and, to the knowledge of the Responsible Officers
      of the Loan Parties, no other Person has caused, any conditions relating to
      the
      Real Properties or the Businesses that could give rise to liability under any
      applicable Environmental Laws.

    

    (b) No
      Consolidated Party has received any written notice of, or inquiry from any
      Governmental Authority regarding, any violation, alleged violation,
      non-compliance, liability or alleged liability pursuant to Environmental Laws
      with regard to any of the Real Properties or the Businesses.

    

    (c) Hazardous
      Materials have not been transported or disposed of from the Real Properties,
      or
      generated, treated, stored or disposed of at, on or under any of the Real
      Properties or any other location, in each case by or on behalf of any
      Consolidated Party, or, to the knowledge of the Responsible Officers of the
      Loan
      Parties, by any other Person on behalf of a Consolidated Party, in violation
      of,
      or in a manner that would give rise to liability under, any applicable
      Environmental Law.

     

    
      
         

      

      
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    (d) No
      judicial proceeding or governmental or administrative action is pending or,
      to
      the knowledge of the Responsible Officers of the Loan Parties, threatened,
      under
      any Environmental Law to which any Consolidated Party is or will be named as
      a
      party, nor are any Consolidated Parties subject to any consent decrees, consent
      orders, administrative orders, or other administrative or judicial requirements
      outstanding under any Environmental Law.

    

    (e) There
      has been no release, or threat of release, of Hazardous Materials at or from
      the
      Real Properties, or arising from or related to the operations (including,
      without limitation, disposal) of any Consolidated Party, or, to the knowledge
      of
      the Responsible Officers of the Loan Parties, of any other Person in connection
      with the Real Properties or otherwise in connection with the Businesses, in
      violation of or in amounts or in a manner that would give rise to liability
      under Environmental Laws.

    

    6.10 Insurance.

    

    The
      properties of the Borrower and its Subsidiaries are insured with financially
      sound and reputable insurance companies not Affiliates of the Borrower, in
      such
      amounts, with such deductibles and covering such risks as are customarily
      carried by companies engaged in similar businesses and owning similar properties
      in localities where the Borrower or the applicable Subsidiary
      operates.

    

    6.11 Taxes.

    

    The
      Consolidated Parties have filed all Federal, state and other tax returns and
      reports required to be filed, and have paid all Federal, state and other taxes,
      assessments, fees and other governmental charges levied or imposed upon them
      or
      their properties, income or assets otherwise due and payable, except (a) those
      which are being contested in good faith by appropriate proceedings and for
      which
      adequate reserves have been provided in accordance with GAAP, or (b) to the
      extent that failure to do so could not reasonably be expected to result in
      Material Adverse Effect. There is no proposed tax assessment against the
      Borrower or any Subsidiary that would, if made, have a Material Adverse
      Effect.

    

    6.12 ERISA
      Compliance.

    

    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.

    

    6.13 Capital
      Structure/Subsidiaries.

    

    The
      corporate capital and ownership structure of the Consolidated Parties as of
      the
      Closing Date is as described in Schedule 6.13(a). Set forth on
Schedule 6.13(b) is a complete and accurate list as of the Closing
      Date with respect to each of the direct and indirect Subsidiaries of the
      Borrower of (i) jurisdiction of incorporation or formation,
      (ii) number of shares of each class of

     

    
      
         

      

      
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    Capital
      Stock outstanding, (iii) number and percentage of outstanding shares of
      each class owned (directly or indirectly) by the Consolidated Parties and
      (iv) number and effect, if exercised, of all outstanding options, warrants,
      rights of conversion or purchase and all other similar rights with respect
      thereto as of the Closing Date. The outstanding Capital Stock of all such
      Persons is validly issued, fully paid and non-assessable and is owned by the
      Consolidated Parties, directly or indirectly, in the manner set forth on
Schedule 6.13(b), free and clear of all Liens (other than those
      arising under or contemplated in connection with the Loan Documents). Other
      than
      as set forth in Schedule 6.13(b), none of the Borrower’s
      Subsidiaries has outstanding any securities convertible into or exchangeable
      for
      its Capital Stock nor does any such Person have outstanding any rights to
      subscribe for or to purchase or any options for the purchase of, or any
      agreements providing for the issuance (contingent or otherwise) of, or any
      calls, commitments or claims of any character relating to its Capital Stock
      (other than Wireless LLC). As of the Closing Date, the Borrower has no Foreign
      Subsidiaries.

    

    6.14 Margin
      Regulations; Investment Company Act; Public Utility Holding Company
      Act.

    

    (a) The
      Borrower is not engaged and will not engage, principally or as one of its
      important activities, in the business of purchasing or carrying margin stock
      (within the meaning of Regulation U issued by the FRB), or extending credit
      for the purpose of purchasing or carrying margin stock.

    

    (b) None
      of the Loan Parties (i) is a “holding company,” or a “subsidiary company”
of a “holding company,” or an “affiliate” of a “holding company” or of a
“subsidiary company” of a “holding company,” within the meaning of the Public
      Utility Holding Company Act of 1935, (ii) is or is required to be
      registered as an “investment company” under the Investment Company Act of 1940
      or (iii) is subject to regulation under any other Law which limits its
      ability to incur Indebtedness.

    

    6.15 Disclosure.

    

    The
      Borrower has disclosed to the Administrative Agent and 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 are
      not
      disclosed in its public filings with the SEC and that, individually or in the
      aggregate, could reasonably be expected to result in a Material Adverse Effect.
      No written report, financial statement, certificate or other information
      furnished by or on behalf of any Loan Party to the Administrative Agent or
      any
      Lender in connection with the transactions contemplated hereby and the
      negotiation of this Agreement or delivered hereunder or under any other Loan
      Document (in each case, as modified or supplemented from time to time by other
      information so furnished, and taken together with the information disclosed
      in
      the Borrower’s public filings with the SEC, as such information is modified or
      supplemented by other information so disclosed) 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.

    

    
      
         

      

      
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    6.16 Compliance
      with Laws.

    

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

    

    6.17 Intellectual
      Property.

    

    Each
      Consolidated Party owns, or has the legal right to use, all material trademarks,
      service marks, trade names, trade dress, patents, copyrights, technology,
      know-how and processes (the “Intellectual Property”) necessary for each
      of them to conduct its business as currently conducted. No claim has been
      asserted and is pending by any Person challenging or questioning the use of
      the
      Intellectual Property or the validity or effectiveness of the Intellectual
      Property, nor does any Loan Party know of any such claim, and, to the knowledge
      of the Responsible Officers of the Loan Parties, the use of the Intellectual
      Property by any Consolidated Party or the granting of a right or a license
      in
      respect of the Intellectual Property from any Consolidated Party does not
      infringe on the rights of any Person, except for such claims and infringements
      that, in the aggregate, could not reasonably be expected to have a Material
      Adverse Effect.

    

    6.18 Solvency.

    

    The
      Consolidated Parties are Solvent on a consolidated basis.

    

    6.19 Telecommunications
      Regulatory Matters.

    

    (a) Each
      Consolidated Party has obtained all material Governmental Approvals of any
      Governmental Authority having jurisdiction over such Consolidated Party, which
      Governmental Approvals are necessary for the operation of the Businesses. All
      Governmental Approvals of such Consolidated Party are in full force and effect,
      are duly issued in the name of, or validly assigned to, such Consolidated Party
      and such Consolidated Party has the power and authority to operate thereunder,
      except in each case to the extent the failure thereof could not reasonably
      be
      expected to result in a Material Adverse Effect.

    

    (b) No
      consent or approval of, or notification to, the FCC, a State PUC or any other
      Governmental Authority responsible for telecommunications matters is required
      in
      connection with the consummation of this Agreement of the making of the Loans,
      except where the failure to obtain such consent or approval, or to give such
      notification could not reasonably be expected to result in a Material Adverse
      Effect.

    

    (c) There
      are no proceedings pending or, to the knowledge of the Borrower, threatened
      from
      or before the FCC, a State PUC or any other Governmental Authority responsible
      for telecommunications matters naming any of the Consolidated Parties, that
      either

     

    
      
         

      

      
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    individually
      or in the aggregate could reasonably be expected to result in a Material Adverse
      Effect.

    

    

    ARTICLE
      VII

    AFFIRMATIVE
      COVENANTS

    

    So
      long
      as any Lender shall have any Commitment hereunder, any Loan or other Obligation
      hereunder shall not be Fully Satisfied, or any Letter of Credit shall remain
      outstanding, the Borrower shall, and shall cause each Subsidiary
      to:

    

    7.01 Financial
      Statements.

    

    Deliver
      to the Administrative Agent:

    

    (a) after
      the end of each fiscal year of the Borrower, the Borrower shall provide to
      the
      Administrative Agent, as soon as available, but in any event within 15 days
      after it files or is required to file the same with the SEC (whether or not
      required by the reporting requirements of Section 13 or 15(d) of the Exchange
      Act), a consolidated balance sheet of the Consolidated
      Parties as at the end of such fiscal year, and the related consolidated
      statements of income or operations, shareholders’ equity and cash flows for such
      fiscal year, setting forth in each case in comparative form the figures for
      the
      previous fiscal year, all in reasonable detail and prepared in accordance with
      GAAP, audited and accompanied by a report and opinion of a Registered Public
      Accounting Firm of nationally recognized standing, which report and opinion
      shall be prepared in accordance with generally accepted auditing standards
      and
      shall not be subject to any “going concern” or like qualification, together with
      unaudited consolidating statements certified by a Responsible Officer of the
      Borrower to the effect that such consolidating statements are fairly stated
      in
      all material respects when considered in relation to the consolidated financial
      statements of the Borrower and its Subsidiaries; and

    

    (b) after
      the end of each of the first three fiscal quarters of each fiscal year of the
      Borrower, the Borrower shall provide to the Administrative Agent, as soon as
      available, but in any event within 15 days after it files or is required to
      file
      the same with the SEC (whether or not required by the reporting requirements
      of
      Section 13 or 15(d) of the Exchange Act), a consolidated balance sheet of the
      Consolidated Parties as at the end of such fiscal quarter, and the related
      consolidated statements of income or operations, shareholders’ equity and cash
      flows for such fiscal quarter and for the portion of the Borrower’s fiscal year
      then ended, setting forth in each case in comparative form the figures for
      the
      corresponding fiscal quarter of the previous fiscal year and the corresponding
      portion of the previous fiscal year, all in reasonable detail, such consolidated
      statements to be certified by a Responsible Officer of the Borrower as fairly
      presenting the financial condition, results of operations, shareholders’ equity
      and cash flows of the Consolidated Parties in accordance with GAAP, subject
      only
      to normal year-end audit adjustments and the absence of footnotes.

     

    
      
         

      

      
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    7.02 Certificates;
      Other Information.

    

    Deliver
      to the Administrative Agent:

    

    (a) concurrently
      with the delivery of the financial statements referred to in
Section 7.01(a), a certificate of its independent certified public
      accountants (which may be limited to accounting matters) certifying such
      financial statements;

    

    (b) concurrently
      with the delivery of the financial statements referred to in
Section 7.01(a) and (b) (commencing with the delivery of the
      financial statements for the fiscal quarter ended March 31, 2005), a
      duly completed Compliance Certificate signed by a Responsible Officer of the
      Borrower;

    

    (c) at
      least 30 days after the end of each fiscal year of the Borrower, an annual
      business plan and budget of the Consolidated Parties containing, among other
      things, pro forma financial statements for the next fiscal year, beginning
      with
      an annual business plan and budget for fiscal year 2006;

    

    (d) promptly
      after the same are available, copies of each annual report, proxy or financial
      statement or other report or communication sent to the stockholders of the
      Borrower, and copies of all annual, regular, periodic and special reports and
      registration statements which the Borrower may file or be required to file
      with
      the SEC under Section 13 or 15(d) of the Securities Exchange Act of 1934;

    

    (e) promptly,
      such additional information regarding the business, financial or corporate
      affairs of the Borrower or any Subsidiary, or compliance with the terms of
      the
      Loan Documents, as the Administrative Agent or any Lender may from time to
      time
      reasonably request; and 

    

    (f) within
      90 days after the end of each fiscal year of the Borrower, a certificate
      containing information regarding the amount of all Dispositions (other than
      any
      Excluded Disposition), Involuntary Dispositions and Acquisitions that occurred
      during the prior fiscal year.

    

    Documents
      required to be delivered pursuant to Section 7.01 or
Section 7.02 may be delivered electronically and if so delivered,
      shall be deemed to have been delivered on the date (i) on which the
      Borrower posts such documents, or provides a link thereto, on the Borrower’s
      website on the Internet at the website address listed on
Schedule 11.02; (ii) on which such documents are posted on the
      Borrower’s behalf on an Internet or intranet website, if any, to which each
      Lender and the Administrative Agent are offered access (whether a commercial,
      third-party website or whether sponsored by the Administrative Agent) or (iii)
      on which such documents become available on the website of the SEC at
      http://www/sec/gov; provided that the Borrower shall notify the
      Administrative Agent (by telecopier or electronic mail) of the posting of any
      such documents (other than those referred to in clause (d) above that have
      been
      posted to the SEC’s website) and provide to the Administrative Agent by
      electronic mail electronic versions of such documents. Notwithstanding anything
      contained herein, in every instance the

     

    
      
         

      

      
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    Borrower
      shall be required to provide paper copies of the Compliance Certificates
      required by Section 7.02(b) to the Administrative Agent. Except for
      such Compliance Certificates, the Administrative Agent shall have no obligation
      to request the delivery or to maintain copies of the documents referred to
      above, and in any event shall have no responsibility to monitor compliance
      by
      the Borrower with any such request for delivery, and each Lender shall be solely
      responsible for requesting delivery to it or maintaining its copies of such
      documents.

    

    The
      Loan
      Parties hereby acknowledge that (a) the Administrative Agent will make
      available to the Lenders and the L/C Issuer materials and/or information
      provided by or on behalf of the Loan Parties hereunder (collectively,
“Borrower Materials”) by posting the Borrower Materials on IntraLinks or
      another similar electronic system (the “Platform”) and (b) certain
      of the Lenders may be “public-side” Lenders (i.e., Lenders that do not
      wish to receive material non-public information with respect to the Borrower
      or
      its securities) (each, a “Public Lender”). The Loan Parties hereby agree
      that (w) all Borrower Materials that are to be made available to Public
      Lenders shall be clearly and conspicuously marked “PUBLIC” which, at a minimum,
      shall mean that the word “PUBLIC” shall appear prominently on the first page
      thereof; (x) by marking Borrower Materials “PUBLIC,” the Loan Parties shall
      be deemed to have authorized the Administrative Agent, the Arrangers, the L/C
      Issuer and the Lenders to treat such Borrower Materials as either publicly
      available information or not material information (although it may be sensitive
      and proprietary) with respect to the Borrower or its securities for purposes
      of
      United States Federal and state securities laws; (y) all Borrower Materials
      marked “PUBLIC” are permitted to be made available through a portion of the
      Platform designated “Public Investor;” and (z) the Administrative Agent and
      the Arrangers shall be entitled to treat any Borrower Materials that are not
      marked “PUBLIC” as being suitable only for posting on a portion of the Platform
      not designated “Public Investor.”

    

    7.03 Notices
      and Information.

    

    (a) Promptly
      notify the Administrative Agent of the occurrence of any Default known to any
      Responsible Officer of the Borrower and the nature thereof.

    

    (b) Promptly
      notify the Administrative Agent and each Lender of any matter that has resulted
      or could reasonably be expected to result in a Material Adverse Effect,
      including those resulting from (i) breach or non-performance of, or any
      default under, a Contractual Obligation of any Consolidated Party; (ii) any
      dispute, litigation, investigation, proceeding or suspension between any
      Consolidated Party and any Governmental Authority; or (iii) the
      commencement of, or any material development in, any litigation or proceeding
      affecting any Consolidated Party, including pursuant to any applicable
      Environmental Laws.

    

    (c) Promptly
      notify the Administrative Agent of the occurrence of any ERISA Event that could
      reasonably be expected to result in liability of the Borrower and its
      Subsidiaries in an aggregate amount exceeding the Threshold Amount.

    

    (d) Promptly
      notify the Administrative Agent of any material change in internal accounting
      policies or internal financial reporting practices by any Consolidated Party
      that will have a material effect on financial statement results.

    

    
      
         

      

      
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    (e) At
      the time of delivery of the financial statements and reports provided for in
      Section 7.01(a), deliver to the Administrative Agent a report signed
      by an Responsible Officer of the Borrower setting forth (i) a list of
      registration numbers for all material patents, trademarks, service marks, trade
      names and copyrights awarded to any Loan Party since the last day of the
      immediately preceding fiscal year and (ii) a list of all material patent
      applications, trademark applications, service mark applications, trade name
      applications and copyright applications submitted by any Loan Party since the
      last day of the immediately preceding fiscal year and the status of each such
      application, all in such form as shall be reasonably satisfactory to the
      Administrative Agent.

    

    Each
      notice pursuant to this Section 7.03(a) through (d) shall be
      accompanied by a statement of a Responsible Officer of the Borrower setting
      forth details of the occurrence referred to therein and stating what action
      the
      Borrower has taken and proposes to take with respect thereto. Each notice
      pursuant to Section 7.03(a) shall describe with particularity any
      and all provisions of this Agreement and any other Loan Document that have
      been
      breached.

    

    7.04 Payment
      of Obligations.

    

    Except
      to
      the extent that the failure to do so could not reasonably be expected to result
      in a Material Adverse Effect, pay and discharge as the same shall become due
      and
      payable, all its obligations (other than Indebtedness) and liabilities,
      including (a) all Tax liabilities, assessments and governmental charges or
      levies upon it or its Properties or assets, unless the same are being contested
      in good faith by appropriate proceedings and adequate reserves in accordance
      with GAAP are being maintained by the applicable Consolidated Party;
      (b) all lawful claims which, if unpaid, would by law become a Lien upon any
      material portion of its Property; and (c) all Indebtedness, as and when due
      and payable, but subject to any subordination provisions contained in any
      instrument or agreement evidencing such Indebtedness, and except to the extent
      that non-payment thereof does not result in an Event of Default under Section
      9.01(f).

    

    7.05 Preservation
      of Existence, Etc.

    

    (a) Preserve,
      renew and maintain in full force and effect its legal existence and good
      standing under the Laws of the jurisdiction of its organization except in a
      transaction permitted by Section 8.04 or Section 8.05,
      except to the extent that failure to do so could not reasonably be expected
      to
      result in a Material Adverse Effect; (b) take all reasonable action to
      maintain all rights, privileges, permits, licenses and franchises necessary
      or
      desirable in the normal conduct of its business; and (c) preserve or renew
      all of its material registered copyrights, patents, trademarks, trade names
      and
      service marks, except to the extent that failure to do so could not reasonably
      be expected to result in a Material Adverse Effect.

    

    7.06 Maintenance
      of Properties.

    

    (a) Maintain,
      preserve and protect all of its material properties and equipment necessary
      in
      the operation of its business in good working order and condition, ordinary
      wear
      and tear excepted; (b) make all necessary repairs thereto and renewals and
      replacements thereof; 

     

    
      
         

      

      
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    and
      (c) use the standard of care typical in the industry in the operation and
      maintenance of its facilities.

    

    7.07 Maintenance
      of Insurance.

    

    (a) Maintain
      in full force and effect insurance in such amounts, covering such risks and
      liabilities and with such deductibles or self-insurance retentions as are in
      accordance with normal industry practice (it being understood that, to the
      extent consistent with prudent business practices of Person carrying on a
      similar business in a similar location as the Consolidated Parties, a program
      of
      self-insurance for first or other loss layers may be utilized in an aggregate
      amount not to exceed $50,000,000).

    

    (b) In
      the event that the Consolidated Parties receive Net Cash Proceeds in excess
      of
      $25,000,000 in aggregate amount during any fiscal year of the Consolidated
      Parties (“Excess Proceeds”) on account of Involuntary Dispositions, the
      Loan Parties shall apply (or cause to be applied) an amount equal to such Excess
      Proceeds to (i) make Eligible Reinvestments (including but not limited to
      the repair or replacement of the related Property) within the applicable
      Application Period, or (ii) prepay the Tranche B Term Loan in accordance
      with the terms of Section 2.05(b)(ii)(B). Pending final application
      of any Excess Proceeds, the Loan Parties may apply such Excess Proceeds to
      temporarily reduce the Revolving Loans or to make Permitted Investments, but
      shall not use such proceeds for any other purpose.

    

    7.08 Compliance
      with Laws and Contractual
      Obligations.

    

    Comply
      with the requirements of all Laws, all Contractual Obligations and all orders,
      writs, injunctions and decrees applicable to it or to its business or Property,
      except in such instances in which (a) such requirement of Law, Contractual
      Obligation or order, writ, injunction or decree is being contested in good
      faith
      by appropriate proceedings; or (b) the failure to comply therewith could
      not reasonably be expected to have a Material Adverse Effect.

    

    7.09 Books
      and Records.

    

    (a) Maintain
      proper books of record and account, in which entries in conformity with GAAP
      shall be made of all financial transactions and matters involving the assets
      and
      business of the Loan Party or such Subsidiary, as the case may be; and
      (b) maintain such books of record and account in material conformity with
      all applicable requirements of any Governmental Authority having regulatory
      jurisdiction over the Loan Party or such Subsidiary, as the case may
      be.

    

    7.10 Inspection
      Rights.

    

    Permit
      representatives and independent contractors of the Administrative Agent and
      the
      Lenders to visit and inspect any of its Properties, to examine its corporate,
      financial and operating records, and, with the prior written consent of the
      Borrower (not to be unreasonably withheld) make copies thereof or abstracts
      therefrom, and to discuss its affairs, finances and accounts with its directors,
      officers, and independent public accountants, all at such
      reasonable

     

    
      
         

      

      
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    times
      during normal business hours and as often as may be reasonably desired, upon
      reasonable advance notice to the Borrower, and, at any time when an Event of
      Default has occurred and is continuing, at the expense of the
      Borrower.

    

    7.11 Use
      of Proceeds.

    

    Use
      the
      proceeds of the Credit Extensions made (i) on the Closing Date to refinance
      in
      part existing Indebtedness of the Consolidated Parties and to pay certain
      transaction costs incurred in connection with such refinancing and obtaining
      the
      agreement of the holders of the 2003 Senior Notes to the first supplemental
      indenture dated as of January 28, 2005, to the 2003 Senior Note Indenture,
      and
      (ii) thereafter, for general corporate purposes, in each case not in
      contravention of any Law or of any Loan Document; provided,
however, that 100% of the Net Cash Proceeds of the Tranche B Term
      Loan
      and any Revolving Loans made on the First Amendment Effective Date shall be
      used
      by the Borrower to pay all or a portion of the purchase price to redeem all
      of
      the outstanding 2003 16% Junior Notes and any costs and expenses of the Borrower
      related to such redemption.

    

    7.12 Additional
      Guarantors.

    

    (a) General.
      Notify the Administrative Agent at the time that any Person becomes a Subsidiary
      of a Loan Party, and within 30 days thereafter (or such later date as the
      Administrative Agent shall agree in its reasonable discretion), (i) unless
      such Person is an Excluded Subsidiary, cause such Person to (A) become a
      Guarantor by executing and delivering to the Administrative Agent a Joinder
      Agreement, and (B) deliver to the Administrative Agent items of the types
      referred to for each of the initial Loan Parties pursuant to
Section 5.01, all in form, content and scope reasonably satisfactory
      to the Administrative Agent and (ii) unless such Person is a Non-Pledged
      Subsidiary, cause the Capital Stock of such Person owned by the Loan Parties
      to
      be pledged to the Collateral Agent (for the benefit of the Lenders) as and
      to
      the extent required by Section 7.13.

    

    (b) CBT
      and CBET. Notwithstanding any provision to the contrary set forth herein or
      in any other Loan Document, at such time, if ever, that (i) CBT and/or
      CBET, as applicable, ceases to be subject to all applicable Laws, including
      all
      regulations relating to telecommunications businesses by all Governmental
      Authorities which prohibit, restrict or require regulatory approval for
      (A) the pledging of assets or (B) the incurrence of Indebtedness
      and (ii) any action described in either of clause (A) or (B) above
      could not, in the determination of the Borrower reasonably exercised, be
      expected to result in any such Governmental Authority taking an action or
      refusing to take an action which action or refusal to take any action could
      have
      a material adverse effect on CBT and/or CBET, as applicable, then
      (x)(1) CBT and/or CBET, as applicable, shall cease to be an Excluded
      Subsidiary and (2) each applicable CBT Subsidiary shall cease to be a
      Non-Pledged Subsidiary and (y) the Loan Parties shall within 30 days
      thereafter (or such later date as the Administrative Agent shall agree in its
      reasonable discretion) (1) cause CBT and/or CBET, as applicable, to
      (I) become a Guarantor by executing and delivering to the Administrative
      Agent a Joinder Agreement, and (II) deliver to the Administrative Agent
      items of the types referred to for each of the initial Loan Parties pursuant
      to
Section 5.01, all in form, content and scope reasonably satisfactory
      to the Administrative

     

    
      
         

      

      
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    Agent
      and
      (2) cause the Capital Stock of each CBT Subsidiary owned by it to be
      pledged to the Collateral Agent (for the benefit of the Lenders) as and to
      the
      extent required by Section 7.13.

    

    (c) Wireless LLC.
      Notwithstanding any provision to the contrary set forth herein or in any other
      Loan Document, but subject to applicable Laws, including all regulations
      relating to telecommunications businesses by all Governmental Authorities which
      prohibits, restricts or requires regulatory approval for the pledging of assets,
      upon the closing of the Wireless Acquisition, (i) Wireless LLC shall
      cease to be an Excluded Subsidiary and a Non-Pledged Subsidiary and
      (ii) the Loan Parties shall within 30 days thereafter (or such later date
      as the Administrative Agent shall agree in its reasonable discretion)
      (A) cause Wireless LLC to (1) become a Guarantor by executing and
      delivering to the Administrative Agent a Joinder Agreement, and (2) deliver
      to the Administrative Agent items of the types referred to for each of the
      initial Loan Parties pursuant to Section 5.01, all in form, content
      and scope reasonably satisfactory to the Administrative Agent, and
      (B) cause all of the Capital Stock of Wireless LLC owned by the Loan
      Parties to be pledged to the Collateral Agent (for the benefit of the Lenders)
      as and to the extent required by Section 7.13. Notwithstanding the
      provisions of this Section 7.12(c), in the event that
      Wireless LLC becomes a Guarantor as contemplated by the immediately
      preceding sentence and thereafter any Wireless Disposition involving the
      Disposition of all or any portion of the Capital Stock of Wireless LLC is
      consummated, then the Administrative Agent shall take such action as
      contemplated by Section 10.10 to evidence the release of the
      Collateral Agent’s Lien on the Property and Capital Stock of Wireless LLC,
      and the release of Wireless LLC from all of its obligations under the Loan
      Documents and, automatically, Wireless LLC shall, if applicable, be deemed
      to be an Excluded Subsidiary and a Non-Pledged Subsidiary.

    

    (d) Other
      Excluded Subsidiaries; Non-Pledged Subsidiaries. Notwithstanding any
      provision to the contrary set forth herein or in any other Loan Document, but
      subject to applicable Laws, including all regulations relating to
      telecommunications businesses by all Governmental Authorities which prohibits,
      restricts or requires regulatory approval for the pledging of
      assets:

    

    (i) in
      the event that (A) any Subsidiary which is an Excluded Subsidiary by virtue
      of clause (f) of the definition of “Excluded Subsidiaries” set forth in
Section 1.01 becomes a Wholly Owned Subsidiary, (B) any
      Subsidiary which is an Excluded Subsidiary by virtue of clause (g)(i) of
      the definition of “Excluded Subsidiaries” set forth in Section 1.01
      could become a Loan Party without causing a violation of applicable law or
      (C) the Administrative Agent shall have reasonably determined as a result
      of a change in fact, law or circumstance that any Subsidiary which is an
      Excluded Subsidiary by virtue of clause (g)(ii) of the definition of
“Excluded Subsidiaries” set forth in Section 1.01 should become a
      Loan Party, then (1) such Subsidiary shall cease to be an Excluded
      Subsidiary and (2) the Loan Parties shall within 30 days after receipt of
      notice of such determination (or such later date as the Administrative Agent
      shall agree in its reasonable discretion) cause such Subsidiary to become a
      Guarantor by executing and delivering to the Administrative Agent a Joinder
      Agreement and deliver to the Administrative Agent items of the types referred
      to
      for each of the initial Loan Parties

     

    
      
         

      

      
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     pursuant
      to Section 5.01, all in form, content and scope reasonably
      satisfactory to the Administrative Agent; or

    

    (ii) in
      the event that (A) any Subsidiary which is a Non-Pledged Subsidiary by
      virtue of clause (f) of the definition of “Non-Pledged Subsidiaries” set
      forth in Section 1.01 becomes a Wholly Owned Subsidiary,
      (B) the Capital Stock of any Subsidiary which is a Non-Pledged Subsidiary
      by virtue of clause (g)(i) of the definition of “Non-Pledged Subsidiaries”
set forth in Section 1.01 could be pledged to the Collateral Agent
      without causing a violation of applicable law or (C) the Administrative
      Agent shall have reasonably determined as a result of a change in fact, law
      or
      circumstance that the Capital Stock of any Subsidiary which is a Non-Pledged
      Subsidiary by virtue of clause (g)(ii) of the definition of “Non-Pledged
      Subsidiaries” set forth in Section 1.01 should be pledged to the
      Collateral Agent, then (1) such Subsidiary shall cease to be a Non-Pledged
      Subsidiary and (2) the Loan Parties shall within 30 days after receipt of
      notice of such determination (or such later date as the Administrative Agent
      shall agree in its reasonable discretion) cause the Capital Stock of such
      Subsidiary to be pledged to the Collateral Agent (for the benefit of the
      Lenders) as and to the extent required by Section 7.13.

    

    7.13 Further
      Assurances.

    

    Cause
      (i) all of the issued and outstanding Capital Stock of each Domestic
      Subsidiary (other than any Non-Pledged Subsidiary) owned by the Loan Parties
      and
      (ii) 66% of the issued and outstanding Capital Stock of each Foreign
      Subsidiary (other than any Non-Pledged Subsidiary) directly owned by each Loan
      Party to be subject at all times to a valid and perfected, first priority Lien
      (subject only to Permitted Liens) in favor of the Collateral Agent pursuant
      to
      the terms and conditions of the Collateral Documents.

    

    

    ARTICLE
      VIII

    NEGATIVE
      COVENANTS

    

    So
      long
      as any Lender shall have any Commitment hereunder, any Loan or other Obligation
      hereunder shall not be Fully Satisfied, or any Letter of Credit shall remain
      outstanding, the Borrower shall not, nor shall it permit any Subsidiary to,
      directly or indirectly:

    

    8.01 Liens.

    

    Create,
      incur, assume or suffer to exist any Lien upon any of its Property, whether
      now
      owned or hereafter acquired, other than the following:

    

    (a) Liens
      pursuant to any Loan Document;

    

    (b) Liens
      existing on the date hereof and listed on Schedule 8.01 and any
      renewals or extensions thereof, provided that (i) such Lien shall
      not apply to any other Property of the Consolidated Parties, (ii) the
      maximum amount secured or benefited

     

    
      
         

      

      
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    thereby
      is not increased, and (iii) any renewal or extension of the obligations
      secured or benefited thereby is permitted by
Section 8.03;

    

    (c) Liens
      for Taxes, assessments or governmental charges or levies not yet due or which
      are being contested in good faith and by appropriate proceedings, if adequate
      reserves with respect thereto are maintained on the books of the applicable
      Person in accordance with GAAP;

    

    (d) statutory
      Liens of landlords and Liens of carriers, warehousemen, mechanics, materialmen
      and suppliers and other Liens imposed by law or pursuant to customary
      reservations or retentions of title arising in the ordinary course of business,
      provided that such Liens secure only amounts not yet due and payable or,
      if due and payable, are unfiled and no other action has been taken to enforce
      the same or are being contested in good faith by appropriate proceedings for
      which adequate reserves determined in accordance with GAAP have been
      established;

    

    (e) pledges
      or deposits in the ordinary course of business in connection with workers’
compensation, unemployment insurance and other social security legislation,
      other than any Lien imposed by ERISA;

    

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

    

    (g) easements,
      rights-of-way, restrictions and other similar encumbrances affecting real
      Property which, in the aggregate, are not substantial in amount, and which
      do
      not in any case materially detract from the value of the Property subject
      thereto or materially interfere with the ordinary conduct of the business of
      the
      applicable Person;

    

    (h) Liens
      securing judgments for the payment of money not constituting an Event of Default
      under Section 9.01(i);

    

    (i) Liens
      securing Indebtedness permitted under Section 8.03(e) or (n),
provided that (i) such Liens do not at any time encumber any
      Property other than the Property financed by such Indebtedness, (ii) the
      Indebtedness secured thereby does not, at the time incurred, exceed the cost
      or
      fair market value, whichever is lower, of the Property being acquired,
      constructed or improved on the date of acquisition, construction or improvement,
      as applicable, and (iii) such Liens attach to such Property concurrently
      with or within 180 days after the acquisition or completion of construction
      or
      improvement, as applicable, thereof;

    

    (j) subleases
      of real Property and licenses of Intellectual Property granted to other Persons,
      in each case (i) entered into in the ordinary course of its business, (ii)
      not
      intended to constitute a financing arrangement, and
      (iii) not interfering in any material respect with the
      business of any Consolidated Party;

    
 

    
      
         

      

      
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    (k) any
      interest of title of a lessor under, and Liens arising from UCC financing
      statements (or equivalent filings, registrations or agreements in foreign
      jurisdictions) relating to, leases permitted by this Agreement;

    

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

    

    (m) Liens
      deemed to exist in connection with Investments in repurchase agreements
      permitted under Section 8.02;

    

    (n) normal
      and customary rights of setoff upon deposits of cash in favor of banks or other
      depository institutions;

    

    (o) Liens
      of a collection bank arising under Section 4-210 of the Uniform Commercial
      Code on items in the course of collection;

    

    (p) Liens
      existing or deemed to exist in connection with any Permitted Receivables
      Financing, but only to the extent that any such Lien relates to the applicable
      Transferred Assets purported to be sold, contributed, financed or otherwise
      conveyed or pledged pursuant to such transaction;

    

    (q) Liens
      of sellers of goods to the Borrower and any of its Subsidiaries arising under
      Article 2 of the Uniform Commercial Code or similar provisions of
      applicable law in the ordinary course of business, covering only the goods
      sold
      and securing only the unpaid purchase price for such goods and related
      expenses;

    

    (r) any
      interest of title of a buyer in connection with, and Liens arising from Uniform
      Commercial Code financing statements relating to, a sale of receivables
      permitted by this Agreement;

    

    (s) any
      Lien on Property not owned by the Borrower or any Subsidiary on the Closing
      Date
      that is in existence at the time that such Property is acquired by the Borrower
      or any Subsidiary or at the time that the Person that owns such Property becomes
      a Subsidiary, provided that 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;

    

    (t) Liens,
      leases, and grants of indefeasible rights of use, rights of use and similar
      rights in respect of capacity, dark fiber and similar assets of the Consolidated
      Parties in the ordinary course of business either existing as of the Closing
      Date or as permitted pursuant to Section 8.05; and

    

    (u) other
      Liens (other than Liens on Capital Stock of any Subsidiary) securing
      Indebtedness or other obligations in an aggregate principal amount not to exceed
      $20,000,000 at any time outstanding.

    
 

    
      
         

      

      
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    8.02 Investments.

    

    Make
      any
      Investments, except:

    

    (a) Investments
      held by such Loan Party or such Subsidiary in the form of Cash
      Equivalents;

    

    (b) Investments
      existing as of the Closing Date and set forth in
Schedule 8.02;

    

    (c) Investments
      consisting of advances or loans to directors, officers, employees, agents,
      customers or suppliers in an aggregate principal amount (including Investments
      of such type set forth in Schedule 8.02) not to exceed $30,000,000
      at any time outstanding;

    

    (d) Investments
      in any Person which is a Loan Party prior to giving effect to such
      Investment;

    

    (e) Investments
      consisting of extensions of credit in the nature of accounts receivable or
      notes
      receivable arising from the grant of trade credit in the ordinary course of
      business, and Investments received in satisfaction or partial satisfaction
      thereof from financially troubled account debtors to the extent reasonably
      necessary in order to prevent or limit loss;

    

    (f) Guarantees
      constituting Indebtedness permitted by Section 8.03 (other than
Section 8.03(c)), to the extent such Guarantees also constitute
      Investments;

    

    (g) the
      Wireless Acquisition and (without double-counting for purposes of determining
      compliance with the numerical limit applicable hereunder) Investments in one
      or
      more Wholly Owned Subsidiaries to enable such Subsidiaries to make the Wireless
      Acquisition; provided that (i) the aggregate cash consideration
      paid by the Consolidated Parties does not exceed $125,000,000 and (ii) upon
      consummation thereof, Wireless LLC shall be a Wholly Owned Subsidiary of
      the Borrower;

    

    (h) Investments
      consisting of an Acquisition (other than the Wireless
      Acquisition) by the Borrower or any Subsidiary of the
      Borrower and (without double-counting for purposes of determining compliance
      with the numerical limit applicable hereunder) Investments in Wholly-Owned
      Subsidiaries to enable such Subsidiaries to make such Acquisitions;
provided that

    

    (i) the
      Property acquired (or the Property of the Person acquired) in such Acquisition
      is used or useful in the same or a similar line of business as the Borrower
      and
      its Subsidiaries were engaged in on the Closing Date (or any reasonable
      extensions or expansions thereof);

     

     

    
      
         

      

      
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    (ii) in
      the case of an Acquisition of the Capital Stock of another Person, the board
      of
      directors (or other comparable governing body) of such other Person shall have
      duly approved such Acquisition;

    

    (iii) if
      the aggregate purchase price to be paid by the Borrower and/or its Subsidiaries
      in connection with such Acquisition exceeds $50,000,000, the Borrower shall
      have
      delivered to the Administrative Agent a Pro Forma Compliance Certificate
      demonstrating that, upon giving effect to such Acquisition on a Pro Forma Basis,
      the Loan Parties would be in compliance with the financial covenants set forth
      in Section 8.11 as of the most recent fiscal quarter end with
      respect to which the Administrative Agent has received the Required Financial
      Information;

    

    (iv) no
      Default shall have occurred and be continuing both before and immediately after
      the time such Acquisition is consummated;

    

    (v) if
      such transaction involves the purchase of an interest in a partnership between
      the Borrower (or a Subsidiary of the Borrower) as a general partner and entities
      unaffiliated with the Borrower or such Subsidiary as the other partners, absent
      any adverse tax consequences for the Borrower or any Subsidiary, such
      transaction shall be effected by having such equity interest acquired by a
      holding Person directly or indirectly wholly-owned by the Borrower and newly
      formed for the sole purpose of effecting such transaction;

    

    (vi) the
      aggregate consideration (including cash and non-cash consideration, any
      assumption of Indebtedness and any earn-out payments, but excluding
      consideration consisting of (A) any Capital Stock of the Borrower issued to
      the seller of the Capital Stock or Property acquired in such Acquisition,
      (B) amounts not in excess of the aggregate cumulative proceeds of any
      Equity Issuance by the Borrower consummated subsequent to the Closing
      Date and not more than 365 days prior to the date that such Acquisition is
      consummated, provided that such amounts have not previously served as the
      basis for allowing a Restricted Payment pursuant to Section 8.06(d),
      any other Acquisition pursuant to this subsection (h)(vi) or any prepayment
      under Section 8.12(b)(ii), and (C) amounts not in excess of the
      aggregate cumulative proceeds of any Disposition, Excluded Disposition or
      Involuntary Disposition consummated subsequent to the Closing Date and not
      more
      than 365 days prior to the date that such Acquisition is consummated,
provided that such amounts have not previously served as the basis for
      allowing a Restricted Payment pursuant to Section 8.06(d) or any
      other Acquisition pursuant to this subsection (h)(vi)) paid by the
      Consolidated Parties for all such Acquisitions occurring after the Closing
      Date
      (net, in the case of each such Acquisition, of return of capital received at
      or
      prior to the time of determination) shall not exceed $250,000,000;

    
 

    
      
         

      

      
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    (i) Investments
      made with the proceeds of an Equity Issuance by the Borrower so long as the
      proceeds thereof are not otherwise required to be applied to the prepayment
      of
      the Loans pursuant to the terms of this Agreement;

    

    (j) Investments
      in a Receivables Financing SPC made in connection with a Permitted Receivables
      Financing;

    

    (k) Investments
      in Foreign Subsidiaries in an aggregate outstanding amount at any time for
      all
      such Investments made after the Closing Date pursuant to this
      subsection (k) not to exceed $5,000,000;

    

    (l) in
      addition to the Wireless Acquisition, (i) Investments in Wireless LLC
      resulting in Wireless LLC owning Spectrum Assets in an aggregate
      outstanding amount at any time for all such Investments made after the Closing
      Date pursuant to this subsection (l)(i) not to exceed $200,000,000 and
      (ii) other Investments in Wireless LLC in an aggregate outstanding
      amount at any time for all such Investments made after the Closing Date pursuant
      to this subsection (l)(ii) not to exceed $30,000,000;

    

    (m) Investments
      in CBT and in any Subsidiary of CBT;

    

    (n) Investments
      in Excluded Subsidiaries consisting of Guarantees of operating leases entered
      into in the ordinary course of business or of other obligations not constituting
      Indebtedness incurred in the ordinary course of business;

    

    (o) loans
      and advances by Loan Parties to Excluded Subsidiaries evidenced by promissory
      notes that have been pledged and delivered to the Administrative Agent in
      accordance with the terms of the Security Agreement;

    

    (p) Investments
      in Joint Ventures (in addition to Investments permitted pursuant to clauses
      (g),
      (l), (n) and (o) above and any Wireless Disposition) in an aggregate outstanding
      amount at any time for all such Investments made after the Closing Date not
      to
      exceed $200,000,000; provided, however, that no more $50,000,000
      of such Investments may be made in Joint Ventures which are not
      Subsidiaries;

    

    (q) Investments
      by Subsidiaries which are Joint Ventures;

    

    (r) Investments
      by BRFS LLC in a Consolidated Party and/or by a Consolidated Party in BRFS,
      in
      each case made in the form of intercompany debt and for cash management purposes
      in connection with cash management system of the Borrower and its
      Subsidiaries;

     

    (s) to
      the extent constituting or resulting in an Investment, any Wireless Disposition;
      

    

     

    
      
         

      

      
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    (t) other
      Investments not otherwise permitted by this Section 8.02 in an
      aggregate outstanding amount at any time for all such Investments made after
      the
      Closing Date pursuant to this subsection (t) not to exceed $30,000,000;
      and

    

    (u) any
      Eligible Reinvestment of the proceeds of any Involuntary Disposition as
      contemplated by Section 7.07(b) or of any Disposition as contemplated by
Section 8.05(b)(vii).

    

    Notwithstanding
      any provision to the contrary set forth in this Agreement (including, without
      limitation, the definition of “Joint Venture” set forth in
Section 1.01), the Disposition by any of the Consolidated Parties of
      any portion (but not all) of the Capital Stock of any Wholly Owned Subsidiary
      acquired or created after the Closing Date shall be deemed to constitute an
      Investment in a Joint Venture in an amount equal to the book value of the
      Capital Stock of such Person retained by the Consolidated Parties immediately
      after giving effect to such Disposition.

    

    8.03 Indebtedness.

    

    Create,
      incur, assume or suffer to exist any Indebtedness, except:

    

    (a) Indebtedness
      under the Loan Documents (including Indebtedness in respect of any Incremental
      Facility established in accordance with the terms of
Section 11.01(b));

    

    (b) Indebtedness
      of the Borrower and its Subsidiaries outstanding on the Closing Date and set
      forth in Schedule 8.03, and renewals, refinancings, replacements and
      extensions thereof that do not (i) increase the amount of such Indebtedness
      (except by the amount of a reasonable premium or other reasonable amount paid,
      and fees and expenses reasonably incurred, in connection therewith),
      (ii) shorten the final maturity or the average life to maturity of such
      Indebtedness or (iii) cause the terms of subordination, if any, taken as a
      whole, of such Indebtedness to be materially less favorable to the Lenders
      than
      the terms of subordination, taken as a whole, under the 2003 83⁄8% Junior Note
      Indenture, as in effect on the Closing Date;

    

    (c) intercompany
      Indebtedness and Guarantees with respect to Indebtedness, so long as in each
      case the related Investment made by the holder of such Indebtedness or by the
      provider of such Guarantee, as applicable, is permitted under
Section 8.02 (other than Section 8.02(f));

    

    (d) obligations
      (contingent or otherwise) of the Borrower or any Subsidiary existing or arising
      under any Swap Contract, provided that (i) such obligations are (or
      were) entered into by such Person in the ordinary course of business for the
      purpose of directly hedging or mitigating risks associated with liabilities,
      commitments, investments, assets, or Property held or reasonably anticipated
      by
      such Person, or changes in the value of securities issued by such Person
      (including 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

     

    
      
         

      

      
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    liability
      or investment of the Borrower or any Subsidiary), and not for purposes of
      speculation and (ii) such Swap Contract does not contain any provision
      exonerating the non-defaulting party from its obligation to make payments on
      outstanding transactions to the defaulting party;

    

    (e) purchase
      money Indebtedness (excluding obligations in respect of Capital Leases and
      Synthetic Lease Obligations) hereinafter incurred by the Borrower or any of
      its
      Subsidiaries in an aggregate principal amount that, when taken together with
      the
      Remaining Present Value of outstanding leases (other than Capital Leases and
      Synthetic Leases) relating to Sale and Leaseback Transactions entered into
      in
      accordance with Section 8.05(ii), does not exceed $100,000,000 at
      any one time outstanding;

    

    (f) unsecured
      Indebtedness of the Borrower arising under the 2005 Senior Note Documents and,
      to the extent relating to the 2005 Junior Notes, the 2005 Junior Note Documents
      (and unsecured Guarantees thereof by any Guarantor), in an aggregate principal
      amount for all such Indebtedness at any time outstanding pursuant to this
      subsection (f) not to exceed $350,000,000, and renewals, refinancings,
      replacements and extensions thereof that do not (i) increase the amount of
      such Indebtedness (except by the amount of a reasonable premium or other
      reasonable amount paid, and fees and expenses reasonably incurred, in connection
      therewith), (ii) shorten the final maturity or the average life to maturity
      of such Indebtedness or (iii) in the case of any renewal, refinancing,
      replacement or extension of the 2005 Junior Notes, cause the terms of
      subordination, taken as a whole, of such Indebtedness to be materially less
      favorable to the Lenders than the terms of subordination, taken as a whole,
      under the 2003 83⁄8% Junior Note Indenture, as in effect on the Closing
      Date;

    

    (g) obligations
      of the Borrower or any of its Subsidiaries in connection
      with any Permitted Receivables Financing, to the extent such obligations
      constitute Indebtedness;

    

    (h) Indebtedness
      of any Person in existence at the time that such Person becomes a Subsidiary
      after the Closing Date, provided that such Indebtedness is not created in
      contemplation of or in connection with such Person becoming a Subsidiary, and
      renewals, refinancings, replacements and extensions thereof that do not
      (i) increase the amount of such Indebtedness (except by the amount of a
      reasonable premium or other reasonable amount paid, and fees and expenses
      reasonably incurred, in connection therewith) or (ii) shorten the final
      maturity or the average life to maturity of such Indebtedness;

    

    (i) Indebtedness
      arising from the honoring by a bank or other financial institution of a check,
      draft or similar instrument drawn against insufficient funds in the ordinary
      course of business and extinguished within two Business Days of its
      incurrence;

    

    (j) Guarantees
      of obligations of any Consolidated Party for customary indemnification, purchase
      price adjustments and similar obligations arising under purchase and sale
      agreements entered into in respect of Acquisitions and Dispositions

     

     

    
      
         

      

      
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    permitted
      under Section 8.02 or Section 8.05, as applicable, and
      reimbursement obligations of any Consolidated Party in respect of letters of
      credit, surety bonds and performance bonds delivered in connection
      therewith;

    

    (k) Indebtedness
      of Excluded Subsidiaries in an aggregate principal amount which shall not,
      at
      the time when created, incurred or assumed, exceed $200,000,000 at any time
      outstanding;

    

    (l) additional
      unsecured Indebtedness of the Borrower (and unsecured Guarantees thereof by
      any
      Guarantor), provided that (i) the terms, taken as a whole, of any
      such Indebtedness, and of any agreement entered into and of any instrument
      issued in connection therewith, are not materially less favorable to the
      Consolidated Parties or the Lenders than the terms of documents governing or
      evidencing the 2005 Senior Notes, as in effect on the Closing Date,
      (ii) either (A) the proceeds of such Indebtedness are used to
      refinance then existing Indebtedness of the Borrower or (B) the Borrower
      shall have delivered to the Administrative Agent a Pro Forma Compliance
      Certificate demonstrating that, upon giving effect on a Pro Forma Basis to
      the
      incurrence of such additional Indebtedness and to the concurrent retirement
      of
      any other Indebtedness of any Consolidated Party, the Loan Parties would be
      in
      compliance with the financial covenants set forth in
Section 8.11(a)-(d) as of the most recent fiscal quarter
      end with respect to which the Administrative Agent has received the Required
      Financial Information and (iii) in the case of Indebtedness incurred
      pursuant to clause (ii)(B) above, the aggregate principal amount of
      all such Indebtedness incurred after the Closing Date (together with any
      accumulated, pay-in-kind, or capitalized interest thereon) shall not exceed
      $200,000,000;

    

    (m) additional
      unsecured Subordinated Indebtedness of the Borrower (and unsecured Guarantees
      thereof by any Guarantor that are subordinated to the Obligations on identical
      terms), provided that (i) the terms, taken as a whole, of any such
      Subordinated Indebtedness, and of any agreement entered into and of any
      instrument issued in connection therewith, are not materially less favorable
      to
      the Consolidated Parties or the Lenders than the terms of documents governing
      or
      evidencing the 2003 83⁄8% Junior Notes, as in effect on the Closing Date, and
      (ii) either (A) the proceeds of such Subordinated Indebtedness are
      used to refinance then existing Subordinated Indebtedness of the Borrower or
      (B) the Borrower shall have delivered to the Administrative Agent a Pro
      Forma Compliance Certificate demonstrating that, upon giving effect on a Pro
      Forma Basis to the incurrence of such additional Subordinated Indebtedness
      and
      to the concurrent retirement of any other Indebtedness of any Consolidated
      Party, the Loan Parties would be in compliance with the financial covenants
      set
      forth in Section 8.11(a)-(d) as of the most recent
      fiscal quarter end with respect to which the Administrative Agent has received
      the Required Financial Information;

    

    (n) Indebtedness
      arising under Capital Leases and Synthetic Leases hereinafter incurred by the
      Borrower or any of its Subsidiaries in an aggregate principal amount that,
      when
      taken together with the Remaining Present Value of outstanding Capital Leases
      and Synthetic Leases relating to Sale and Leaseback Transactions entered into
      in
      accordance with Section 8.05(ii), does not exceed $25,000,000 at any
      one time outstanding;

    

     

    
      
         

      

      
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    (o) other
      unsecured Indebtedness of Loan Parties in an aggregate principal amount which
      shall not exceed $25,000,000 at any time outstanding; and

    

    (p) other
      unsecured Indebtedness maturing after the Maturity Date, provided that
      100% of the net proceeds of such Indebtedness are used to repay, refinance
      or
      replace Indebtedness outstanding under this Agreement and the
      Notes.

    

    Notwithstanding
      any provision to the contrary set forth in this Section 8.03, the
      aggregate outstanding principal amount of all Indebtedness incurred by the
      Excluded Subsidiaries (other than (i) Indebtedness owed to any Consolidated
      Party and (ii) renewals, refinancings, replacements and extensions of
      Indebtedness existing on the Closing Date and permitted by Section
      8.03(b)), at any time on or after the Closing Date shall not exceed an
      amount equal to (i) $250,000,000 minus (ii) the then
      outstanding Attributed Principal Amount under any Permitted Receivables
      Financing.

    

    8.04 Fundamental
      Changes.

    

    Except
      in
      connection with an Excluded Disposition, merge, dissolve, liquidate, consolidate
      with or into another Person, or Dispose of (whether in one transaction or in
      a
      series of transactions) all or substantially all of its assets (whether now
      owned or hereafter acquired) to or in favor of any Person; provided that,
      notwithstanding the foregoing provisions of this Section 8.04 but
      subject to the terms of Sections 7.12 and 7.13, (a) the
      Borrower may merge or consolidate with any of its Subsidiaries provided that
      the
      Borrower shall be the continuing or surviving Person, (b) any Loan Party
      other than the Borrower may merge or consolidate with any other Loan Party
      or
      the Borrower, (c) any Consolidated Party which is not a Loan Party may be
      merged or consolidated with or into any Loan Party provided that the continuing
      or surviving Person shall be a Loan Party, (d) any Consolidated Party which
      is not a Loan Party may be merged or consolidated with or into any other
      Consolidated Party which is not a Loan Party, (e) any Subsidiary of the
      Borrower may merge with any Person that is not a Loan Party in connection with
      a
      Disposition permitted under Section 8.05, (f) the Borrower or
      any Subsidiary of the Borrower may merge with any Person (other than a
      Consolidated Party with which it could not merge under any of clauses (a)
      through (e)) in connection with a Permitted Acquisition provided that, if such
      transaction involves the Borrower, the Borrower shall be the continuing or
      surviving corporation, (g) any Wholly Owned Subsidiary of the Borrower may
      dissolve, liquidate or wind up its affairs at any time provided that such
      dissolution, liquidation or winding up, as applicable, could not reasonably
      be
      expected to have a Material Adverse Effect and (h) Cincinnati Bell
      Entertainment, Inc. (f/k/a ZoomTown.com Inc.) may merge with CBT or any CBT
      Subsidiary.

    

    8.05 Dispositions.

    

    Make
      any
      Disposition other than (a) an Excluded Disposition, and (b) so long as
      no Default or Event of Default shall have occurred and be continuing or would
      be
      directly or indirectly caused as a result thereof, other
      Dispositions; provided that (i) at least 50% of the
      consideration paid in connection therewith shall be in cash or Cash Equivalents,
      such payment to be made within five Business Days after the consummation of
      such
      transaction, and the aggregate amount of all consideration paid or to be paid
      in
      connection therewith shall be in an amount not less

     

     

    
      
         

      

      
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    than
      the
      fair market value of the Property disposed of, (ii) such transaction is not
      a Sale and Leaseback Transaction unless, after giving effect to the entering
      into of the applicable lease in connection therewith, the Remaining Present
      Value of such lease, when taken together with the aggregate then outstanding
      principal amount of all Indebtedness incurred pursuant to
Section 8.03(e) or (n) and the Remaining Present Value of
      outstanding leases previously entered into pursuant to this clause (ii),
      would not exceed $25,000,000, (iii) such transaction does not involve the
      Disposition of a part but not all of the Capital Stock of any Consolidated
      Party
      that does not result in an Investment that is permitted under
Section 8.02, (iv) such transaction does not involve a
      Disposition of receivables other than receivables owned by or attributable
      to
      other Property concurrently being disposed of in a transaction otherwise
      permitted under this Section 8.05, (v) the fair market value of
      all of the assets sold or otherwise Disposed of in all such transactions after
      the Closing Date (other than Sale and Leaseback Transactions permitted
      hereunder) shall not exceed $75,000,000 per fiscal year, (vi) if the fair
      market value of the Property Disposed of in any single Disposition (or in any
      series of related Dispositions) exceeds $50,000,000, the Borrower shall have
      delivered to the Administrative Agent a Pro Forma Compliance Certificate
      demonstrating that, upon giving effect on a Pro Forma Basis to such transaction
      (including any proposed use of the proceeds thereof for debt reduction or the
      making of any Investment), the Loan Parties would be in compliance with the
      financial covenants set forth in Section 8.11(a)-(d), as of
      the most recent fiscal quarter end with respect to which the Administrative
      Agent has received the Required Financial Information, and (vii) the Loan
      Parties shall apply (or cause to be applied) an amount equal to the Net Cash
      Proceeds of such Disposition to (A) make Eligible Reinvestments within the
      applicable Application Period or (B) prepay the Tranche B Term Loan, in
      each case in accordance with the terms of Section 2.05(b)(ii)(A).
      Pending final application of the Net Cash Proceeds of any Disposition (other
      than Excluded Dispositions), the Consolidated Parties shall not use such Net
      Cash Proceed for any purpose other than to temporarily reduce the Revolving
      Loans or to make Investments in Cash Equivalents.

    

    8.06 Restricted
      Payments.

    

    Make,
      directly or indirectly, any Restricted Payment, except that:

    

    (a) each
      Consolidated Party may make Restricted Payments (directly or indirectly) to
      any
      other Consolidated Party that is a Loan Party;

    

    (b) each
      Subsidiary of the Borrower may declare and make ratable dividend payments or
      other distributions to holders of the Capital Stock of such Person.

    

    (c) so
      long as no Default or Event of Default has occurred and is continuing or would
      arise immediately after giving effect thereof, the Borrower may:

    

    (i) declare
      and pay scheduled dividend payments on the Permitted Preferred Stock and the
      Other Permitted Equity;

    

    (ii) (A) make
      payments pursuant to stock option plans or other stock related benefit plans
      (1) approved by the Board of Directors of the Borrower and (2) in the
      ordinary course of business made to directors, officers and employees of

     

     

    
      
         

      

      
        97

        
          

        

      

      
         

      

    

     

    the
      Borrower to repurchase Capital Stock of the Borrower held by such Persons in
      case of resignation, the cessation or employment or retirement of such Person
      (by death, disability or otherwise); and (B) purchase or repurchase Capital
      Stock of the Borrower with the proceeds received by it from the exercise of
      rights under such plans by directors, officers and employees; and

    

    (iii) refinance
      Permitted Preferred Stock or Other Permitted Equity with the proceeds of Other
      Permitted Equity; and

    

    (d) so
      long as no Default or Event of Default has occurred and is continuing or would
      be directly or indirectly caused as a result thereof, the Borrower may make
      other Restricted Payments; provided that immediately after giving effect
      to any such Restricted Payment, on a Pro Forma Basis as of the most recent
      fiscal quarter end with respect to which the Administrative Agent has received
      the Required Financial Information, (i) the Loan Parties would be in compliance
      with the financial covenants set forth in Sections 8.11(a) and
(b), and (ii) the Consolidated Senior Secured Leverage Ratio would
      not
      exceed 2.00:1.00.

    

    8.07 Change
      in Nature of Business.

    

    Engage
      in
      any material line of business substantially different from those lines of
      business conducted by the Borrower and its Subsidiaries on the Closing Date
      or
      any business substantially related or incidental thereto.

    

    8.08 Transactions
      with Affiliates and Insiders.

    

    Enter
      into or permit to exist any transaction or series of transactions with any
      officer, director or Affiliate of such Person other than (a) transactions
      among Loan Parties, (b) intercompany transactions expressly permitted by
Section 8.02, Section 8.03, Section 8.04,
Section 8.05 or Section 8.06, (c) normal
      compensation and reimbursement of expenses of officers and directors,
      indemnification of officers and directors in respect of their services as such
      which indemnification is either required or permitted under the applicable
      corporate law of the applicable Consolidated Party’s jurisdiction of
      incorporation or organization, and Investments permitted under
Section 8.02(c), (d) in connection with Permitted Receivables
      Financings, (e) to the extent not permitted by clause (b) of this
Section 8.08, other Restricted Payments permitted under
Section 8.06 and (f) except as otherwise specifically limited
      in this Agreement, other transactions which are entered into in the ordinary
      course of such Person’s business consistent with past practices or on terms and
      conditions substantially as favorable to such Person as would be obtainable
      by
      it in a comparable arms-length transaction with a Person is not an officer,
      director or Affiliate.

    

    8.09 Burdensome
      Agreements.

    

    (a) Enter
      into any Contractual Obligation that encumbers or restricts the ability of
      any
      such Person to (i) pay dividends or make any other distributions to any
      Loan Party on its Capital Stock or with respect to any other interest or
      participation in, or measured by, its profits, (ii) pay any Indebtedness or
      other obligation owed to any Loan Party, (iii) make loans or advances to
      any

     

     

    
      
         

      

      
        98

        
          

        

      

      
         

      

    

     

    Loan
      Party, (iv) sell, lease or transfer any of its Property to any Loan Party
      or (v) except in respect of any Subsidiary which is not a Guarantor,
      (A) pledge its Property pursuant to the Loan Documents or any renewals,
      refinancings, exchanges, refundings or extension thereof or (B) act as a
      Loan Party pursuant to the Loan Documents or any renewals, refinancings,
      exchanges, refundings or extension thereof, except (in respect of any of the
      matters referred to in clauses (i)-(v)(A) above) for (1) this
      Agreement and the other Loan Documents, (2) the Senior Note Documents,
      (3) the Junior Note Documents, (4) any document or instrument
      governing Indebtedness incurred pursuant to Section 8.03(e) or
(n), provided that any such restriction contained therein
      relates only to the asset or assets constructed or acquired in connection
      therewith, (5) any document or instrument governing Indebtedness incurred
      pursuant to subsection (g), (h), (k), (l), (m) or (o) of Section
      8.03, (6) any document or instrument governing Indebtedness incurred to
      renew, refinance, replace or extend any Indebtedness governed by any document
      or
      instrument otherwise permitted to contain any such Contractual Obligation
      pursuant to this Section 8.09, (7) any Permitted Lien or any
      document or instrument governing any Permitted Lien, provided that any
      such restriction contained therein relates only to the asset or assets subject
      to such Permitted Lien; or (8) customary restrictions and conditions
      contained in any agreement relating to the sale of any Property permitted under
      Section 8.05 pending the consummation of such sale;

    

    (b) Enter
      into any Contractual Obligation (other than the documents governing or
      evidencing the Obligations, the 1993 Senior Note Indenture and the CBT
      Indentures) that requires the grant of a Lien by any Consolidated Party on
      any
      Collateral to secure obligations arising under such Contractual
      Obligation.

    

    8.10 Use
      of Proceeds.

    

    Use
      the
      proceeds of any Credit Extension, whether directly or indirectly, and whether
      immediately, incidentally or ultimately, to purchase or carry margin stock
      (within the meaning of Regulation U of the FRB) or to extend credit to
      others for the purpose of purchasing or carrying margin stock or to refund
      indebtedness originally incurred for such purpose.

    

    8.11 Financial
      Covenants.

    

    (a) Consolidated
      Total Leverage Ratio. Permit the Consolidated Total Leverage Ratio as of the
      end of any fiscal quarter of the Borrower to be greater than the ratio set
      forth
      below opposite such fiscal quarter:

    

    
      	
              Fiscal
                Quarter Ended

            	
              Ratio

            
	
              March 31,
                2005

            	
              5.00:1.00

            
	
              June 30,
                2005

            	
              5.00:1.00

            
	
              September 30,
                2005

            	
              5.00:1.00

            
	
              December 31,
                2005

            	
              5.00:1.00

            
	
              March 31,
                2006

            	
              5.00:1.00

            
	
              June 30,
                2006

            	
              5.00:1.00

            
	
              September 30,
                2006

            	
              5.00:1.00

            
	
              December 31,
                2006

            	
              5.00:1.00

            
	
              March 31,
                2007

            	
              4.75:1.00

            

       

       

      
        
          
          

        

        
          99

          
            

          

        

        
          
          

        

      

       

      
        	Fiscal Quarter
                Ended	 Ratio
	
                June 30,
                  2007

              	
                4.75:1.00

              
	
                September
                  30, 2007

              	
                4.75:1.00

              
	
                December
                  31, 2007

              	
                4.75:1.00

              
	
                March
                  31, 2008

              	
                4.75:1.00

              
	
                June 30,
                  2008

              	
                4.75:1.00

              
	
                September 30,
                  2008

              	
                4.75:1.00

              
	
                December 31,
                  2008

              	
                4.75:1.00

              
	
                Each
                  fiscal quarter ended thereafter

              	
                4.50:1.00

              

      

    

    

    (b) Consolidated
      Senior Leverage Ratio. Permit the Consolidated Senior Leverage Ratio as of
      the end of any fiscal quarter of the Borrower to be greater than the ratio
      set
      forth below opposite such fiscal quarter:

    

    
      	
              Fiscal
                Quarter Ended

            	
              Ratio

            
	
              March 31,
                2005

            	
              2.50:1.00

            
	
              June 30,
                2005

            	
              2.50:1.00

            
	
              September 30,
                2005

            	
              2.50:1.00

            
	
              December 31,
                2005

            	
              2.50:1.00

            
	
              March 31,
                2006

            	
              2.25:1.00

            
	
              June 30,
                2006

            	
              2.25:1.00

            
	
              September 30,
                2006

            	
              2.25:1.00

            
	
              December 31,
                2006

            	
              2.25:1.00

            
	
              Each
                fiscal quarter ended thereafter

            	
               

              2.00:1.00

            

    

    

    (c) Consolidated
      Interest Coverage Ratio. Permit the Consolidated Interest Coverage Ratio as
      of the end of any fiscal quarter of the Borrower to be less than the ratio
      set
      forth below opposite such fiscal quarter:

    

    
      	
              Fiscal
                Quarter Ended

            	
              Ratio

            
	
              March 31,
                2005

            	
              2.00:1.00

            
	
              June 30,
                2005

            	
              2.00:1.00

            
	
              September 30,
                2005

            	
              2.00:1.00

            
	
              December 31,
                2005

            	
              2.00:1.00

            
	
              March 31,
                2006

            	
              2.25:1.00

            
	
              June 30,
                2006

            	
              2.25:1.00

            
	
              September 30,
                2006

            	
              2.25:1.00

            
	
              December 31,
                2006

            	
              2.25:1.00

            
	
              Each
                fiscal quarter ended thereafter

            	
               

              2.50:1.00

            

    

    

    (d) Consolidated
      Fixed Charge Coverage Ratio. Permit the Consolidated Fixed Charge Coverage
      Ratio as of the end of any fiscal quarter of the Borrower to be less than 1.20
      to 1.00.

    
 

    
      
         

      

      
        100

        
          

        

      

      
         

      

    

     

    8.12 Prepayment
      of Other Indebtedness, Amendment of Documents,
      Etc.

    

    Permit
      any Consolidated Party to:

    

    (a) if
      any Default or Event of Default has occurred and is continuing or would arise
      immediately after giving effect thereto as a result
      thereof, amend or modify any of the terms of any Junior
      Note Document or Senior Note Document if such amendment or modification would
      add or change any terms in a manner adverse to the Consolidated Parties or
      the
      Lenders, or shorten the final maturity or average life to maturity thereof
      or
      require any principal payment to be made sooner than originally scheduled or
      increase the interest rate applicable thereto;

    

    (b) make
      (or give any notice with respect thereto) any voluntary, optional or other
      non-scheduled payment, prepayment, redemption, acquisition for value (including
      without limitation, by way of depositing money or securities with the trustee
      with respect thereto before due for the purpose of paying when due), refund,
      refinance or exchange of the 2005 Senior Notes, the 2005 Junior Notes or the
      2003 83⁄8% Junior Notes, except for (i) a refinancing of any such
      Indebtedness to the extent permitted pursuant to Section 8.03 (in
      each case whether or not mandatory), and (ii) so long as no Default or
      Event of Default has occurred and is continuing or would be directly or
      indirectly caused as a result thereof, other prepayments, redemptions or
      acquisitions of such Indebtedness not otherwise permitted by this
      subsection (b); provided that after giving effect to any such
      prepayment, on a Pro Forma Basis as of the most recent fiscal quarter end with
      respect to which the Administrative Agent has received the Required Financial
      Information, (A) the Loan Parties would be in compliance with the financial
      covenants set forth in Section 8.11 and (B) the Consolidated Senior
      Secured Leverage Ratio would not exceed 2.00:1.00.

    

    (c) except
      as otherwise provided in subsection (b) above, make any payments in respect
      of Subordinated Indebtedness in violation of the relevant subordination
      provisions; or

    

    (d) enter
      to any Contractual Obligation or amend or modify any of the terms of either
      CBT
      Indenture if the effect of such Contractual Obligation, amendment or
      modification would (i) encumber or restrict the ability of CBT to (i) pay
      dividends or make any other distributions to the any Loan Party on its Capital
      Stock or with respect to any other interest or participation in, or measured
      by,
      its profits, (ii) pay any Indebtedness or other obligation owed to any Loan
      Party, (iii) make loans or advances to any Loan Party, or (iv) sell,
      lease or transfer any of its Property to any Loan Party.

    

    8.13 Organization
      Documents; Fiscal Year.

    

    Permit
      any Consolidated Party (other than a Joint Venture) to (a) amend, modify or
      change its Organization Documents in a manner materially adverse to the Lenders
      or (b) change its fiscal year.

    

    8.14 Ownership
      of Subsidiaries.

    

    Notwithstanding
      any other provisions of this Agreement to the contrary, permit any Consolidated
      Party to (a) permit any Person (other than the Borrower or any Wholly
      Owned

     

    
      
         

      

      
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    Subsidiary
      of the Borrower) to own any Capital Stock of any Loan Party, CBT, any CBT
      Subsidiary, except (i) to qualify directors where required by applicable
      law or to satisfy other requirements of applicable law with respect to the
      ownership of Capital Stock of Foreign Subsidiaries, and (ii) as a result of
      or in connection with an Investment not prohibited under
Section 8.02 or a dissolution, merger, consolidation or Disposition
      of all or any portion of the Property or Capital Stock of a Subsidiary not
      prohibited by Section 8.02, Section 8.04 or
Section 8.05, (b) permit any Subsidiary (other than any Joint
      Venture or any Wholly Owned Subsidiary) to issue or have outstanding any shares
      of preferred Capital Stock (other than preferred Capital Stock held by any
      Loan
      Party, CBT or any CBT Subsidiary or (c) permit, create, incur, assume or
      suffer to exist any Lien on any Capital Stock of any Subsidiary of the Borrower,
      except for Permitted Liens.

    

    8.15 Negative
      Covenants Applicable to Wireless
      Holdco.

    

    Notwithstanding
      any other provision of this Article VIII, until such time as
      Wireless LLC shall have become a Guarantor, permit Wireless Holdco to enter
      into or conduct any business, or engage in any activity (including, without
      limitation, any action or transaction that is restricted under
Article VIII without regard to any of the enumerated exceptions to
      such covenants) other than providing general management services to
      Wireless LLC, holding the Capital Stock of Wireless LLC, exercising
      the voting rights and obligations as a member of Wireless LLC, holding and
      operating the Spectrum Assets, performing any obligations under the Loan
      Documents and engaging in other activities incidental and directly related
      to
      its existence and the foregoing.

    

    8.16 Designated
      Senior Indebtedness.

    

    The
      Borrower hereby agrees and acknowledges that all Obligations shall be
“Designated Senior Indebtedness” (or any comparable term) for purposes of and as
      defined in the 2003 83⁄8 Junior Note Indenture and any documents governing any
      other Subordinated Indebtedness of the Borrower or any of its Subsidiaries
      in
      respect of which such term (or comparable term) has relevance.

    

    

    ARTICLE
      IX

    EVENTS
      OF DEFAULT AND REMEDIES

    

    9.01 Events
      of Default.

    

    Any
      of
      the following shall constitute an Event of Default:

    

    (a) Non-Payment.
      The Borrower or any other Loan Party fails to pay (i) when and as required
      to be paid herein, any amount of principal of any Loan or any L/C Obligation,
      or
      (ii) within three days after the same becomes due, any interest on any Loan
      or on any L/C Obligation, any fee due hereunder or any other amount payable
      hereunder or under any other Loan Document; or

     

     

    
      
         

      

      
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    (b) Specific
      Covenants. Any Loan Party fails to perform or observe any term, covenant or
      agreement contained in Section 7.03(a) or Article VIII;
      or

    

    (c) Certain
      Reporting Covenants. Any Loan Party fails to perform or observe any term,
      covenant or agreement contained in any of Section 7.01,
7.02(a) or 7.02(b) and any such failure continues for 15 days
      after (i) a Responsible Officer of the Borrower has knowledge of such
      failure or (ii) notice thereof from the Administrative Agent to the
      Borrower (which notice will be given at the request of any Lender);
      or

    

    (d) Other
      Defaults. Any Loan Party fails to perform or observe any other covenant or
      agreement (not specified in subsection (a), (b) or (c) above) contained in
      any Loan Document on its part to be performed or observed and such failure
      continues for 30 days after (i) a Responsible Officer of the Borrower has
      knowledge of such failure or (ii) notice thereof from the Administrative
      Agent to the Borrower (which notice will be given at the request of any Lender);
      or

    

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

    

    (f) Cross-Default.
      (i) Any Loan Party (A) fails to make any payment when due (whether by
      scheduled maturity, required prepayment, acceleration, demand, or otherwise)
      in
      respect of any Indebtedness or Guarantee (other than Indebtedness hereunder
      and
      Indebtedness under Swap Contracts) having an aggregate principal amount
      (including amounts owing to all creditors under any combined or syndicated
      credit arrangement) of more than the Threshold Amount, or (B) fails to
      observe or perform any other agreement or condition relating to any such
      Indebtedness or contained in any instrument or agreement evidencing, securing
      or
      relating thereto, or any other event occurs, the effect of which default or
      other event is to cause, or to permit the holder or holders of such Indebtedness
      or the beneficiary or beneficiaries of such Guarantee (or a trustee or agent
      on
      behalf of such holder or holders or beneficiary or beneficiaries) to cause,
      with
      the giving of notice if required, such Indebtedness to become due (automatically
      or otherwise), prior to its stated maturity; provided that this
      clause (i) 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 or (ii) there occurs (other than on a voluntary basis) under
      any Swap Contract an Early Termination Date (as defined in such Swap Contract)
      resulting from (A) any event of default under such Swap Contract as to
      which the Borrower or any Subsidiary is the Defaulting Party (as defined in
      such
      Swap Contract) or (B) any Termination Event (as so defined) under such Swap
      Contract as to which the Borrower or any Subsidiary is an Affected Party (as
      so
      defined) and, in either event, the Swap Termination Value owed by the Borrower
      or such Subsidiary as a result thereof is greater than the Threshold Amount;
      or

     

     

    
      
         

      

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

    

    (h) Inability
      to Pay Debts; Attachment. (i) The Borrower or any Subsidiary (other
      than an Immaterial Subsidiary) becomes unable or admits in writing its inability
      or fails generally to pay its debts as they become due, or (ii) any writ or
      warrant of attachment or execution or similar process is issued or levied
      against all or any material part of the property of any such Person and is
      not
      released, vacated or fully bonded within 30 days after its issue or levy;
      or

    

    (i) Judgments.
      There is entered against the Borrower or any Subsidiary (other than an
      Immaterial Subsidiary) any one or more final judgments or orders for the payment
      of money in an aggregate amount exceeding the Threshold Amount (to the extent
      not covered by independent third-party insurance), and (i) enforcement
      proceedings are lawfully commenced by any creditor upon such judgment or order,
      or (ii) there is a period of 60 consecutive days during which such judgment
      is unpaid and a stay of enforcement of such judgment, by reason of a pending
      appeal or otherwise, is not in effect; or

    

    (j) ERISA.
      An ERISA Event occurs with respect to a Pension Plan or Multiemployer Plan
      which
      has resulted or could reasonably be expected to result in a Material Adverse
      Effect; or

    

    (k) Invalidity
      of Loan Documents; Guarantees. (i) Any material Loan Document, at any
      time after its execution and delivery and for any reason other than as expressly
      permitted hereunder or satisfaction in full of all the Obligations, ceases
      to be
      in full force and effect; or any Loan Party contests in any manner the validity
      or enforceability of any Loan Document (other than any Issuer Document); or
      any
      Loan Party denies that it has any or further liability or obligation under
      any
      Loan Document (other than any Issuer Document), or purports to revoke, terminate
      or rescind any Loan Document (other than any Issuer Document); or
      (ii) except as the result of or in connection with a dissolution, merger or
      disposition of all or part of the assets or Capital Stock of a Subsidiary not
      prohibited by Section 8.04 or Section 8.05, the Guaranty
      given by any Subsidiary (other than an Immaterial Subsidiary) hereunder or
      any
      provision thereof shall cease to be in full force and effect, or any Guarantor
      hereunder or any Person acting by or on behalf of such Guarantor shall deny
      or
      disaffirm such Guarantor’s obligations under its Guaranty, or any Subsidiary
      (other than an Immaterial Subsidiary) shall default in the due

     

    
      
         

      

      
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    performance
      or observance of any term, covenant or agreement on its part to be performed
      or
      observed pursuant to its Guaranty; or

    

    (l) Change
      of Control. There occurs any Change of Control.

    

    9.02 Remedies
      Upon Event of Default.

    

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

    

    (a) declare
      the commitment of each Lender to make Loans and any obligation of all L/C
      Issuers to make L/C Credit Extensions to be terminated, whereupon such
      commitments and obligation shall be terminated;

    

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

    

    (c) require
      that the Borrower Cash Collateralize the L/C Obligations (in an amount equal
      to
      the then Outstanding Amount thereof); and

    

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

    

    provided,
      however, that upon the occurrence of an Event of Default specified in
Section 9.01(g) with respect to the Borrower, the obligation of each
      Lender to make Loans and any obligation of all L/C Issuers to make L/C Credit
      Extensions shall automatically terminate, the unpaid principal amount of all
      outstanding Loans and all interest and other amounts as aforesaid shall
      automatically become due and payable, and the obligation of the Borrower to
      Cash
      Collateralize the L/C Obligations as aforesaid shall automatically become
      effective, in each case without further act of the Administrative Agent or
      any
      Lender.

    

    9.03 Application
      of Funds.

    

    After
      the
      acceleration of the Obligations as provided for in Section 9.02(b)
      (or after the Loans have automatically become immediately due and payable and
      the L/C Obligations have automatically been required to be Cash Collateralized
      as set forth in the proviso to Section 9.02), any amounts received
      on account of the Obligations shall be applied by the Administrative Agent
      in
      the following order:

    

    First,
      to payment of that portion of the Obligations constituting fees, indemnities,
      expenses and other amounts (including fees, charges and disbursements of counsel
      to the Administrative Agent and amounts payable under Article III)
      payable to the Administrative 

     

    
      
         

      

      
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    Agent
      and
      the Collateral Agent, each in its capacity as such, ratably among them in
      proportion to the amounts described in this clause First payable to
      them;

    

    Second,
      to payment of that portion of the Obligations constituting fees, indemnities
      and
      other amounts (other than principal, interest and Letter of Credit Fees) payable
      to the Lenders (including fees, charges and disbursements of counsel to the
      respective Lenders and the respective L/C Issuers and amounts payable under
      Article III), ratably among them in proportion to the respective
      amounts described in this clause Second payable to them;

    

    Third,
      to payment of that portion of the Obligations constituting accrued and unpaid
      Letter of Credit Fees and interest on the Loans, L/C Borrowings and other
      Obligations, ratably among the Lenders and the L/C Issuers in proportion to
      the
      respective amounts described in this clause Third payable to
      them;

    

    Fourth,
      to payment of that portion of the Obligations constituting unpaid principal
      of
      the Loans, L/C Borrowings, obligations under Swap Contracts between any Loan
      Party and any Lender of Affiliate of any Lender, obligations under an Treasury
      Management Agreement between any Loan Party and any Lender of Affiliate of
      any
      Lender and to Cash Collateralize the undrawn amounts of Letters of Credit,
      ratably among such parties in proportion to the respective amounts described
      in
      this clause Fourth held by them;

    

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

    

    Subject
      to Section 2.03(c), amounts used to Cash Collateralize the aggregate
      undrawn amount of Letters of Credit pursuant to clause Fourth above shall
      be applied to satisfy drawings under such Letters of Credit as they occur.
      If
      any amount remains on deposit as Cash Collateral after all Letters of Credit
      have either been fully drawn or expired, such remaining amount shall be applied
      to the other Obligations, if any, in the order set forth above. If at any time
      after any Obligation shall have been Cash Collateralized no Event of Default
      shall be continuing, the Administrative Agent shall promptly return to the
      Borrower all the Cash Collateral.

    

    

    ARTICLE
      X

    ADMINISTRATIVE
      AGENT

    

    10.01 Appointment
      and Authority.

    

    (a) Each
      of the Lenders and each L/C Issuer hereby irrevocably appoints Bank of America
      to act on its behalf as the Administrative Agent hereunder and under the other
      Loan Documents 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 or thereof, together with such actions and powers
      as
      are reasonably incidental thereto. Each of the Lenders hereby irrevocably
      appoints Bank of America to act on its behalf as the Collateral Agent hereunder
      and under the other Loan Documents and authorizes the Collateral Agent to take
      such actions on its behalf and to exercise such powers as are delegated to
      the
      Collateral Agent by the

     

    
      
         

      

      
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    terms
      hereof or thereof, together with such actions and powers as are reasonably
      incidental thereto. The Lenders and the Agents agree that the Collateral Agent
      shall be entitled to all of the benefits and privileges of this Article
      X to the same extent as the Administrative Agent. The provisions of
      this Article are solely for the benefit of the Administrative Agent, the
      Collateral Agent, the Lenders and the L/C Issuers, and neither the Borrower
      nor
      any other Loan Party shall have rights as a third party beneficiary of any
      of
      such provisions.

    

    10.02 Rights
      as a Lender.

    

    The
      Person 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 the term “Lender” or
“Lenders” shall, unless otherwise expressly indicated or unless the context
      otherwise requires, include the Person serving as the Administrative Agent
      hereunder in its individual capacity. Such Person and its Affiliates may accept
      deposits from, lend money to, act as the financial advisor or in any other
      advisory capacity for and generally engage in any kind of business with the
      Borrower or any Subsidiary or other Affiliate thereof as if such Person were
      not
      the Administrative Agent hereunder and without any duty to account therefor
      to
      the Lenders.

    

    10.03 Exculpatory
      Provisions.

    

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

    

    (a) shall
      not be subject to any fiduciary or other implied duties, regardless of whether
      a
      Default has occurred and is continuing;

    

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

    

    (c) shall
      not, except as expressly set forth herein and in the other Loan Documents,
      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 Affiliates that is
      communicated to or obtained by the Person serving as the 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
      (i) with the consent or at the request of the Required Lenders (or such
      other number or percentage of the Lenders as shall be necessary, or as the
      Administrative Agent shall

     

    
      
         

      

      
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    believe
      in good faith shall be necessary, under the circumstances as provided in
Sections 11.01 and 9.02) or (ii) in the absence of its
      own gross negligence or willful misconduct. The Administrative Agent shall
      be
      deemed not to have knowledge of any Default unless and until notice describing
      such Default is given to the Administrative Agent by the Borrower, a Lender
      or
      an L/C Issuer.

    

    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 or any other Loan Document, (ii) the
      contents of any certificate, report or other document delivered hereunder or
      thereunder or in connection herewith or therewith, (iii) the performance or
      observance of any of the covenants, agreements or other terms or conditions
      set
      forth herein or therein or the occurrence of any Default, (iv) the
      validity, enforceability, effectiveness or genuineness of this Agreement, any
      other Loan Document or any other agreement, instrument or document or
      (v) the satisfaction of any condition set forth in Article V or
      elsewhere herein, other than to confirm receipt of items expressly required
      to
      be delivered to the Administrative Agent.

    

    10.04 Reliance
      by 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 (including any electronic
      message, Internet or intranet website posting or other distribution) believed
      by
      it to be genuine and to have been signed, sent or otherwise authenticated by
      the
      proper Person. The Administrative Agent also may rely upon any statement made
      to
      it orally or by telephone and believed by it to have been made by the proper
      Person, and shall not incur any liability for relying thereon. In determining
      compliance with any condition hereunder to the making of a Loan, or the issuance
      of a Letter of Credit, that by its terms must be fulfilled to the satisfaction
      of a Lender or the applicable L/C Issuer, the Administrative Agent may presume
      that such condition is satisfactory to such Lender or the applicable L/C Issuer
      unless the Administrative Agent shall have received notice to the contrary
      from
      such Lender or the applicable L/C Issuer prior to the making of such Loan or
      the
      issuance of such Letter of Credit. 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.

    

    10.05 Delegation
      of Duties.

    

    The
      Administrative Agent may perform any and all of its duties and exercise its
      rights and powers hereunder or under any other Loan Document by or through
      any
      one or more sub-agents appointed by the Administrative Agent. The Administrative
      Agent and any such sub-agent may perform any and all of its duties and exercise
      its rights and powers by or through their respective Related Parties. The
      exculpatory provisions of this Article 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.

     

    
      
         

      

      
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    10.06 Resignation
      of Administrative Agent.

    

    The
      Administrative Agent may at any time give notice of its resignation to the
      Lenders, the L/C Issuers and the Borrower. Upon receipt of any such notice
      of
      resignation, the Required Lenders shall have the right, in consultation with
      the
      Borrower, to appoint a successor, which shall be a bank with an office in the
      United States, or an Affiliate of any such bank with an office in the United
      States. If no such successor shall have been so appointed by the Required
      Lenders and shall have accepted such appointment within 30 days after the
      retiring Administrative Agent gives notice of its resignation, then the retiring
      Administrative Agent may on behalf of the Lenders and the L/C Issuers, appoint
      a
      successor Administrative Agent meeting the qualifications set forth above;
      provided that if the Administrative Agent shall notify the Borrower and
      the Lenders that no qualifying Person has accepted such appointment, then such
      resignation shall nonetheless become effective in accordance with such notice
      and (1) the retiring Administrative Agent shall be discharged from its
      duties and obligations hereunder and under the other Loan Documents (except
      that
      in the case of any collateral security held by the Administrative Agent on
      behalf of the Lenders or the L/C Issuers under any of the Loan Documents, the
      retiring Administrative Agent shall continue to hold such collateral security
      until such time as a successor Administrative Agent is appointed) and
      (2) all payments, communications and determinations provided to be made by,
      to or through the Administrative Agent shall instead be made by or to each
      Lender and each L/C Issuer directly, until such time as the Required Lenders
      appoint a successor Administrative Agent as provided for above in this Section.
      Upon the acceptance of a successor’s appointment as Administrative Agent
      hereunder, such successor shall succeed to and become vested with all of the
      rights, powers, privileges and duties of the retiring (or retired)
      Administrative Agent, and the retiring Administrative Agent shall be discharged
      from all of its duties and obligations hereunder or under the other Loan
      Documents (if not already discharged therefrom as provided above in this
      Section). The fees payable by 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 retiring Administrative
      Agent’s resignation hereunder and under the other Loan Documents, the provisions
      of this Article and Section 10.04 shall continue in effect for the
      benefit of such retiring Administrative Agent, its sub-agents and their
      respective Related Parties in respect of any actions taken or omitted to be
      taken by any of them while the retiring Administrative Agent was acting as
      Administrative Agent.

    

    Any
      resignation by Bank of America as Administrative Agent pursuant to this Section
      shall also constitute its resignation as an L/C Issuer. Upon the acceptance
      of a
      successor’s appointment as Administrative Agent hereunder, (a) such
      successor shall succeed to and become vested with all of the rights, powers,
      privileges and duties of the retiring L/C Issuer, (b) the retiring L/C
      Issuer shall be discharged from all of their respective duties and obligations
      hereunder or under the other Loan Documents, and (c) the successor L/C
      Issuer shall issue letters of credit in substitution for the Letters of Credit,
      if any, outstanding at the time of such succession or make other arrangements
      satisfactory to the retiring L/C Issuer to effectively assume the obligations
      of
      the retiring L/C Issuer with respect to such Letters of Credit.

     

    
      
         

      

      
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    10.07 Non-Reliance
      on Administrative Agent and Other
      Lenders.

    

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

    

    10.08 No
      Other Duties, Etc..

    

    Anything
      herein to the contrary notwithstanding, none of the Book Managers, Arrangers
      or
      agents listed on the cover page hereof shall have any powers, duties or
      responsibilities under this Agreement or any of the other Loan Documents, except
      in its capacity, as applicable, as the Administrative Agent, a Lender or an
      L/C
      Issuer hereunder.

    

    10.09 Administrative
      Agent May File Proofs of Claim.

    

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

    

    (a) to
      file and prove a claim for the whole amount of the principal and interest owing
      and unpaid in respect of the Loans, L/C Obligations and all other Obligations
      that are owing and unpaid and to file such other documents as may be necessary
      or advisable in order to have the claims of the Lenders, the L/C Issuers and
      the
      Administrative Agent (including any claim for the reasonable compensation,
      expenses, disbursements and advances of the Lenders, the L/C Issuers and the
      Administrative Agent and their respective agents and counsel and all other
      amounts due the Lenders, the L/C Issuers and the Administrative Agent under
      Section 2.03(i) and (j), Section 2.08 and
Section 11.04) allowed in such judicial proceeding; and

    

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

    

    and
      any
      custodian, receiver, assignee, trustee, liquidator, sequestrator or other
      similar official in any such judicial proceeding is hereby authorized by each
      Lender and each L/C Issuer to make such payments to the Administrative Agent
      and, in the event that the Administrative Agent shall consent to the making
      of
      such payments directly to the Lenders and the L/C Issuer(s), to pay to the
      Administrative Agent any amount due for the reasonable compensation,
      expenses,

     

    
      
         

      

      
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    disbursements
      and advances of the Administrative Agent and its agents and counsel, and any
      other amounts due the Administrative Agent under Sections 2.08 and
11.04.

    

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

    

    10.10 Collateral
      and Guaranty Matters.

    

    The
      Lenders and the L/C Issuers irrevocably authorize and direct each of the
      Administrative Agent and/or Collateral Agent, as applicable:

    

    (a) to
      release (i) any Lien on any Property granted to or held by the Collateral
      Agent under any Loan Document (A) upon termination of the Aggregate
      Revolving Commitments and payment in full of all Obligations outstanding under
      the Loan Documents (other than contingent indemnification obligations) and
      the
      expiration, termination or Cash Collateralization of all Letters of Credit,
      (B) that is transferred or to be transferred as part of or in connection
      with any Disposition permitted hereunder or under any other Loan Document or
      (C) subject to Section 11.01, if approved, authorized or
      ratified in writing by the Required Lenders, (ii) any Lien on the Capital
      Stock of any Subsidiary that becomes a Non-Pledged Subsidiary at any time after
      the Closing Date as a result of a transaction permitted hereunder and
      (iii) any Lien on the Property or Capital Stock of Wireless LLC
      contemplated by Section 7.12(c), upon the consummation of a Wireless
      Disposition;

    

    (b) to
      subordinate any Lien on any Property granted to or held by the Collateral Agent
      under any Loan Document to the holder of any Lien on such Property that is
      permitted by Section 8.01(i); and

    

    (c) to
      release any Guarantor from its obligations under the Guaranty (i) if such
      Person ceases to be a Subsidiary as a result of a transaction permitted
      hereunder or (ii) if such Person (including, without limitation,
      Wireless LLC, as contemplated by Section 7.12(c)) becomes an
      Excluded Subsidiary at any time after the Closing Date as a result of a
      transaction permitted hereunder.

    

    In
      connection with any termination or release pursuant to this
Section 10.10, the Administrative Agent and/or the Collateral Agent
      shall promptly execute and deliver to the Borrower or any Subsidiary, at the
      Borrower’s or such Subsidiary’s expense, all documents that the Borrower or such
      Subsidiary shall reasonably request to evidence such termination or release.
      Effective immediately upon any Loan Party ceasing to be a Subsidiary or ceasing
      to be a Guarantor, such Loan Party shall cease to be a party to this Agreement.
      Upon request by the Administrative Agent at any time, the Required Lenders
      will
      confirm in writing the Administrative Agent’s and/or Collateral Agent’s, as
      applicable, authority to release or subordinate its interest in particular
      types
      or items of Property, or to release any Guarantor from its obligations under
      the

     

    
      
         

      

      
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    Guaranty
      pursuant to this Section 10.10; provided that the
      failure to obtain such confirmation shall not derogate from the rights of the
      Borrower and the Subsidiaries under this Section 10.10.

    

    

    ARTICLE
      XI

    MISCELLANEOUS

    

    11.01 Amendments,
      Etc.

    

    (a) General.
      No amendment or waiver of any provision of this Agreement or any other Loan
      Document, and no consent to any departure by the Borrower or any other Loan
      Party therefrom, shall be effective, except, in the case of this Agreement,
      pursuant to an agreement or agreements in writing entered into by the Borrower,
      each Loan Party upon which such agreement will place additional obligation
      or
      from the rights of which such agreement will derogate and the and the Required
      Lenders or, in the case of any other Loan Document, pursuant to an agreement
      or
      agreements in writing entered into by the Administrative Agent and the Loan
      Parties or other Subsidiaries that are parties thereto, in each case with the
      consent of the Required Lenders, and each such waiver or consent shall be
      effective only in the specific instance and for the specific purpose for which
      given; provided, however, that:

    

    (i) no
      such amendment, waiver or consent shall, without the written consent of each
      Lender affected thereby:

    

    (A) extend
      or increase the Commitment of any Lender (or reinstate any Commitment terminated
      pursuant to Section 9.02) (it being understood and agreed that a
      waiver of any condition precedent set forth in Section 5.02 or of
      any Default or Event of Default or mandatory reduction in the Commitments shall
      not constitute a change in the terms of any Commitment of any
      Lender);

    

    (B) postpone
      any date fixed by this Agreement or any other Loan Document for any payment
      (excluding mandatory prepayments) of principal, interest, fees or other amounts
      due to the Lenders (or any of them) hereunder or under any other Loan
      Document;

    

    (C) reduce
      or forgive the principal of, or the rate of interest specified herein on, any
      Loan or L/C Borrowing, or any fees or other amounts payable hereunder or under
      any other Loan Document; provided, however, that only the consent
      of the Required Lenders shall be necessary to amend the definition of “Default
      Rate” or to waive any obligation of the Borrower to pay interest or Letter of
      Credit Fees at the Default Rate;

    

    (D) change
      Section 2.13 or Section 9.03 in a manner that would
      alter the pro rata sharing of payments required thereby;

    

    (E) except
      as contemplated by paragraph (b) below, change the definition of “Required
      Lenders,” any provision of this Section 11.01(a)(i) or
      any

     

    
      
         

      

      
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    other
      provision hereof specifying the number or percentage of Lenders required to
      amend, waive or otherwise modify any rights hereunder or make any determination
      or grant any consent hereunder;

    

    (F) (i) except
      as the result of or in connection with a Disposition not prohibited by
Section 8.05, release all or substantially all of the Collateral and
      (ii) except as otherwise provided in Section 10.10, release all
      or substantially all of the Guarantors; or

    

    (G) release
      the Borrower from its obligations under the Loan Documents.

    

    (ii) (A) no
      Default or Event of Default existing at the time of any proposed Credit
      Extension under the Revolving Commitments may be waived for the purposes of
      satisfying the condition precedent set forth in Section 5.02(b) in
      respect of such proposed Credit Extension without the consent at such time
      of
      Lenders holding in the aggregate at least a majority of the Revolving
      Commitments; and (B) without the consent of each Lender holding a Revolving
      Commitment or any outstanding Revolving Loans or participations (whether funded
      or not) in L/C Obligations (and/or participations therein), no amendment, waiver
      or consent relating to this Section 11.01(a)(ii) shall be
      effective;

    

    (iii) without
      the consent of Lenders (other than Defaulting Lenders) holding in the aggregate
      at least a majority of the outstanding Tranche B Term Loan (and/or
      participation therein), amend, change, waive, discharge or terminate
Section 2.05(b)(iv) so as to alter the manner of application of
      proceeds of any mandatory prepayment required by Section 2.05(b)(ii)
      or (iii) hereof;

    

    (iv) (A) no
      amendment, waiver or consent shall, unless in writing and signed by each
      affected L/C Issuer in addition to the Lenders required above, affect the rights
      or duties of an L/C Issuer under this Agreement or any Issuer Document relating
      to any Letter of Credit issued or to be issued by it; and (B) no amendment,
      waiver or consent shall, unless in writing and signed by the Swingline Lender
      in
      addition to the Lenders required above, affect the rights or duties of the
      Swingline Lender under this Agreement

    

    (v) no
      amendment, waiver or consent shall, unless in writing and signed by the
      Administrative Agent in addition to the Lenders required above, affect the
      rights or duties of the Administrative Agent under this Agreement or any other
      Loan Document;

    

    (vi) no
      amendment, waiver or consent shall, unless in writing and signed by the
      Collateral Agent in addition to the Lenders required above, affect the rights
      or
      duties of the Collateral Agent under this Agreement or any other Loan Document;
      

    

    (vii) the
      Fee Letters may be amended, or rights or privileges thereunder waived, in each
      case in a writing executed only by the parties thereto; and

     

     

    
      
         

      

      
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    (viii) no
      amendment, waiver or consent shall, without the written consent of each Lender
      affected thereby, impose any greater restriction on the ability of any Lender
      to
      assign any of its rights or obligations hereunder. 

    

    Notwithstanding
      the foregoing, (A) any provision of this Agreement may be amended by an
      agreement in writing entered into by the Borrower, the Required Lenders and
      the
      Administrative Agent (and, if their rights or obligations are affected thereby,
      the L/C Issuers and the Swingline Lender) if (i) by the terms of such agreement
      the Commitment of each Lender not consenting to the amendment provided for
      therein shall terminate upon the effectiveness of such amendment and (ii) at
      the
      time such amendment becomes effective, each Lender not consenting thereto
      receives payment in full of the principal of and interest accrued on each Loan
      made by it and all other amounts owing to it or accrued for its account under
      this Agreement, and (B) any waiver, amendment or modification of this Agreement
      that by its terms affects the rights or duties under this Agreement of the
      Lenders under one or more tranches but not under any other tranche may be
      effected by an agreement or agreements in writing entered into by the Borrower
      and the requisite percentage in interest of the affected tranche or tranches
      of
      Lenders that would be required to consent thereto under this Section
      11.01 if such tranche or tranches of Lenders were the only tranche or
      tranches of Lenders hereunder at the time.

    

    (b) Incremental
      Facilities.

    

    (i)  For
      the avoidance of doubt and notwithstanding any provision to the contrary set
      forth in this Agreement or any other Loan Document, this Agreement may be
      amended (or amended and restated) at any time and from time to time to increase
      the Aggregate Revolving Commitments or to establish one or more additional
      separate tranches of term loans (each such increase to the Revolving Commitments
      and/or establishment of a new tranche term loans being referred to herein as
      an
“Incremental Facility,” and all of such increases and establishments
      being referred to collectively as the “Incremental Facilities”) to be
      made to the Borrower by an agreement in writing entered into by the Borrower,
      the Administrative Agent and each Person (including any Lender) that shall
      agree
      to provide any such increase to the Revolving Commitments or such separate
      tranches of term loans (but without the consent of any other Lender), and each
      such Person that shall not already be a Lender shall, at the time such agreement
      becomes effective, become a Lender with the same effect as if it had originally
      been a Lender under this Agreement with the Revolving Commitment and/or term
      loan set forth in such agreement; provided, however, that:
      (A) without the consent of the Required Lenders, the aggregate principal
      amount of increases in the Revolving Commitments and/or separate term loans
      effected pursuant to this Section 11.01(b) shall not exceed
      $500,000,000; (B) no Default or Event of Default shall
      exist at the time of the amendment giving effect to any such increase in the
      Revolving Commitments and/or the making of a separate term loan, as applicable,
      becomes effective; and (C) no Lender shall be obligated to participate in
      any such increase by increasing its own commitment hereunder unless such Lender
      elects to do so in its sole discretion at the time of such increase. The terms
      applicable to any additional Revolving Commitments or term loans shall be the
      same as those applicable to the initial Revolving Commitments (after giving
      effect to any amendment in connection with the establishment of such
      additional

     

    
      
         

      

      
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    Revolving
      Commitments or term loans), except in respect of pricing, amortization and
      maturity; provided, however, that (A) each such Incremental
      Facility structured as a separate term loan tranche may be provided the right
      to
      ratable (with the Tranche B Term Loan and each other Incremental Facility
      structured as a separate term loan tranche) prepayment in connection with any
      voluntary or mandatory prepayment, (B) no more than 20% of the initial
      principal amount of any Incremental Facility structured as a separate term
      loan
      tranche shall amortize (pursuant to schedule amortization) prior to the Maturity
      Date of the Tranche B Term Loan, and (C) the final maturity date of any
      Incremental Facility structured as a separate term loan tranche shall not occur
      prior to the Maturity Date of the Tranche B Term Loan or the final maturity
      date
      of any other then existing Incremental Facility structured as a separate term
      loan tranche.

    

    (ii)  Any
      such amendment (or amendment and restatement) effected pursuant to
Section 11.01(b)(i) shall amend the provisions of this Agreement and
      the other Loan Documents to set forth the terms of each Incremental Facility
      established thereby (including the amount and the final maturity thereof, any
      provisions relating to the amortization or mandatory prepayment thereof, the
      interest to accrue and be payable thereon and any fees to be payable in respect
      thereof (in each case subject to any applicable restrictions set forth in
      subsection (i) of this Section 11.01(b)) and to effect such
      other changes (including changes to the provisions of
Section 11.01(a), Section 2.05 and the definition of
“Required Lenders”) as the Borrower and the Administrative Agent shall deem
      necessary or advisable in connection with the establishment of any such
      Incremental Facility; provided, however, that no such agreement
      shall: (A) effect any change described in any of clauses (A), (B),
      (C), (F) and (G) of Section 11.01(a) without the consent of each
      Person required to consent to such change under such clause (it being agreed,
      however, that any increase in the Aggregate Revolving Commitments or
      establishment of any Incremental Facility consisting of a separate tranche
      of
      term loans will not, of itself, be deemed to effect any of the changes described
      in clauses (A), (B), (C), (F) and (G) of Section 11.01(a)(i),
      and that modifications to Section 2.12, Section 9.03 or the
      definition of “Required Lenders” or other provisions relating to voting
      provisions to provide the Persons providing the applicable Incremental Facility
      with the benefit of such provisions will not, by themselves, be deemed to effect
      any of the changes described in clauses (D) and (E) of
Section 11.01(a)(i)), or (B) amend Article VII,
VIII or IX in any manner that by its terms benefits one
      or more
      tranches, but not all tranches, of Loans or Commitments without the prior
      written consent of Lenders holding a majority in interest of the Revolving
      Commitments then existing, if the Lenders holding Revolving Commitments are
      not
      so benefited, and of Lenders holding a majority in interest of each separate
      tranche of term loans then existing and not so benefited, (it being agreed
      that
      no provision requiring the Borrower to prepay term loans of one or more
      Incremental Facilities with the proceeds of Dispositions, Involuntary
      Dispositions, Debt Issuances, Equity Issuances or with the proceeds of excess
      cash flow will be deemed to violate this clause). The loans, commitments and
      borrowings of any Incremental Facility established pursuant to this
Section 11.01(b) shall constitute Loans, Commitments and Borrowings
      under, and shall be entitled to all the benefits afforded by, this Agreement
      and
      the other Loan Documents, and shall, without limiting the foregoing, benefit
      equally and ratably from the Guaranty set forth in Article IV
      hereunder and the security interests

     

    
      
         

      

      
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    and
      Liens
      created by the Collateral Documents, and the Borrower shall take any actions
      reasonably required by the Administrative Agent to ensure and/or demonstrate
      that the requirements of this sentence are satisfied after the establishment
      of
      any such Incremental Facility.

    

    (c) Voting
      Rights of Defaulting Lenders. Notwithstanding anything to the contrary
      herein, no Defaulting Lender shall have any right to approve or disapprove
      any
      amendment, waiver or consent hereunder, except that the Commitment of such
      Lender may not be increased or extended without the consent of such
      Lender.

    

    (d) Voting
      Rights of Lenders During Bankruptcy Proceedings. Notwithstanding the fact
      that the consent of all the Lenders is required in certain circumstances as
      set
      forth above, (x) each Lender is entitled to vote as such Lender sees fit on
      any bankruptcy reorganization plan that affects the Loans, and each Lender
      acknowledges that the provisions of Section 1126(c) of the Bankruptcy Code
      supersedes the unanimous consent provisions set forth herein and (y) the
      Required Lenders shall determine whether or not to allow a Loan Party to use
      cash collateral in the context of a bankruptcy or insolvency proceeding and
      such
      determination shall be binding on all of the Lenders.

    

    11.02 Notices.
      Effectiveness of Electronic
      Communications.

    

    (a) Notices
      Generally. Except in the case of notices and other communications expressly
      permitted to be given by telephone (and except as provided in
      subsection (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 telecopier as
      follows, and all notices and other communications expressly permitted hereunder
      to be given by telephone shall be made to the applicable telephone number,
      as
      follows:

    

    (i) if
      to the Borrower, the Administrative Agent, the Collateral Agent or Bank of
      America, in its capacity as an L/C Issuer, to the address, telecopier number,
      electronic mail address or telephone number specified for such Person on
Schedule 11.02; and

    

    (ii) if
      to any other Lender or L/C Issuer, to the address, telecopier number, electronic
      mail address or telephone number specified in its Administrative
      Questionnaire.

    

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

    

    (b) Electronic
      Communications. Notices and other communications to the Lenders and the L/C
      Issuers hereunder may be delivered or furnished by electronic communication
      (including e-mail and Internet or intranet websites) pursuant to procedures
      approved by the

     

    
      
         

      

      
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    Administrative
      Agent, provided that the foregoing shall not apply to notices to any
      Lender or any L/C Issuer pursuant to Article II if such Lender or
      such L/C Issuer, as applicable, has notified the Administrative Agent that
      it is
      incapable of receiving notices under such Article by electronic communication.
      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.

    

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

    

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

    

    (d) Change
      of Address, Etc. Each of the Borrower, the Administrative Agent, the
      Collateral Agent, the Swingline Lender and each L/C Issuer may change its
      address, telecopier or telephone number for notices and other communications
      hereunder by notice to the other parties hereto. Each other Lender may change
      its address, telecopier or telephone number for notices and other communications
      hereunder by notice to the Borrower, the Administrative Agent, the Collateral
      Agent, the Swingline Lender and each L/C Issuer. In addition, each Lender agrees
      to

     

    
      
         

      

      
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    notify
      the Administrative Agent from time to time to ensure that the Administrative
      Agent has on record (i) an effective address, contact name, telephone
      number, telecopier number and electronic mail address to which notices and
      other
      communications may be sent and (ii) accurate wire instructions for such
      Lender.

    

    (e) Reliance
      by Administrative Agent, L/C Issuer and Lenders. The Administrative Agent,
      the Collateral Agent, each L/C Issuer and the Lenders shall be entitled to
      rely
      and act upon any notices (including telephonic Committed Loan Notices and
      Swingline Loan Notices) purportedly given by or on behalf of the Borrower even
      if (i) such notices were not made in a manner specified herein, were
      incomplete or were not preceded or followed by any other form of notice
      specified herein, or (ii) the terms thereof, as understood by the
      recipient, varied from any confirmation thereof. The Borrower shall indemnify
      the Administrative Agent, each L/C Issuer, each Lender and the Related Parties
      of each of them from all losses, costs, expenses and liabilities resulting
      from
      the reliance by such Person on each notice purportedly given by or on behalf
      of
      the Borrower. All telephonic notices to and other telephonic communications
      with
      the Administrative Agent may be recorded by the Administrative Agent, and each
      of the parties hereto hereby consents to such recording.

    

    11.03 No
      Waiver; Cumulative Remedies.

    

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

    

    11.04 Expenses;
      Indemnity; Damage Waiver.

    

    (a) Costs
      and Expenses. The Borrower shall pay (i) all reasonable out-of-pocket
      expenses incurred by the Administrative Agent, the Collateral Agent and their
      Affiliates (including the reasonable fees, charges and disbursements of counsel
      for the Administrative Agent or Collateral Agent), in connection with the
      syndication of the credit facilities provided for herein, the preparation,
      negotiation, execution, delivery and administration of this Agreement and the
      other Loan Documents or any amendments, modifications or waivers of the
      provisions hereof or thereof (whether or not the transactions contemplated
      hereby or thereby shall be consummated), (ii) all reasonable out-of-pocket
      expenses incurred by each L/C Issuer 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, the Collateral Agent, any Lender or any L/C Issuer
      (including the fees, charges and disbursements of any counsel for the
      Administrative Agent, Collateral Agent any Lender or any L/C
      Issuer), in connection with the enforcement or protection of
      its rights (A) in connection with this Agreement and the other Loan
      Documents, including its rights under this Section, or (B) in connection
      with the Loans made or Letters of Credit issued hereunder,

     

    
      
         

      

      
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    including
      all such out-of-pocket expenses incurred during any workout, restructuring
      or
      negotiations in respect of such Loans or Letters of Credit.

    

    (b) Indemnification
      by the Borrower. The Borrower shall indemnify the Administrative Agent (and
      any sub-agent thereof), Collateral Agent (and any sub-agent thereof), each
      Lender and each L/C Issuer, and each Related Party of any of the foregoing
      Persons (each such Person being called an “Indemnitee”) against, and hold
      each Indemnitee harmless from, any and all losses, claims, damages, liabilities
      and related expenses (including the fees, charges and disbursements of any
      counsel for any Indemnitee), incurred by any Indemnitee or
      asserted against any Indemnitee by any third party or by the Borrower or any
      other Loan Party arising out of, in connection with, or as a result of
      (i) the execution or delivery of this Agreement, any other Loan Document or
      any agreement or instrument contemplated hereby or thereby, the performance
      by
      the parties hereto of their respective obligations hereunder or thereunder
      or
      the consummation of the transactions contemplated hereby or thereby, or, in
      the
      case of the Administrative Agent (and any sub-agent thereof) and its Related
      Parties only, the administration of this Agreement and the other Loan Parties,
      (ii) any Loan or Letter of Credit or the use or proposed use of the
      proceeds therefrom (including any refusal by any L/C Issuer 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, whether brought by a third
      party or by the Borrower or any other Loan Party, 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 (x) are determined by a court of competent
      jurisdiction by final and nonappealable judgment to have resulted from the
      gross
      negligence or willful misconduct of such Indemnitee or its Related Parties
      or
      (y) result from a claim brought by the Borrower or any other Loan Party
      against an Indemnitee for breach of contract, if the Borrower or such Loan
      Party
      has obtained a final and nonappealable judgment in its favor on such claim
      as
      determined by a court of competent jurisdiction.

    

    (c) Reimbursement
      by Lenders. To the extent that the Borrower for any reason fails to
      indefeasibly pay any amount required under subsection (a) or (b) of this
      Section to be paid by it to the Administrative Agent (or any sub-agent thereof),
      the Collateral Agent (or any sub-agent thereof), each L/C Issuer or any Related
      Party of any of the foregoing, each Lender severally agrees to pay to the
      Administrative Agent (or any such sub-agent), the Collateral Agent (or any
      such
      sub-agent), each L/C Issuer or such Related Party, 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 (or any such sub-agent), the
      Collateral Agent (or any such sub-agent) or the applicable L/C Issuer in its
      capacity as such, or against any Related Party of any of the foregoing acting
      for the Administrative Agent (or any such sub-agent), the Collateral Agent
      (or
      any such sub-agent) or the applicable L/C Issuer in connection with
      such

     

    
      
         

      

      
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    capacity.
      The obligations of the Lenders under this subsection (c) are subject to the
      provisions of Section 2.12(d).

    

    (d) Waiver
      of Consequential Damages, Etc. To the fullest extent permitted by applicable
      law, the Borrower shall not assert, and hereby waives, any claim against any
      Indemnitee, on any theory of liability, for special, indirect, consequential
      or
      punitive damages (as opposed to direct or actual damages) arising out of, in
      connection with, or as a result of, this Agreement, any other Loan Document
      or
      any agreement or instrument contemplated hereby, the transactions contemplated
      hereby or thereby, any Loan or Letter of Credit or the use of the proceeds
      thereof. No Indemnitee referred to in subsection (b) above shall be liable
      for any damages arising from the use by unintended recipients of any information
      or other materials distributed by it through telecommunications, electronic
      or
      other information transmission systems in connection with this Agreement or
      the
      other Loan Documents or the transactions contemplated hereby or
      thereby.

    

    (e) Payments.
      All amounts due under this Section 11.04 shall be payable not later than
      ten Business Days after demand therefor.

    

    (f) Survival.
      The agreements in this Section shall survive the resignation of the
      Administrative Agent, the Collateral Agent and any L/C Issuer, the replacement
      of any Lender, the termination of the Aggregate Revolving Commitments and the
      repayment, satisfaction or discharge of all the other Obligations.

    

    11.05 Payments
      Set Aside.

    

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

    

    11.06 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,
      except that

     

    
      
         

      

      
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    neither
      the Borrower nor any other Loan Party may assign or otherwise transfer any
      of
      its rights or obligations hereunder without the prior written consent of the
      Administrative Agent and each Lender, and no Lender may assign or otherwise
      transfer any of its rights or obligations hereunder except (i) to an
      Eligible Assignee in accordance with the provisions of subsection (b) of
      this Section, (ii) by way of participation in accordance with the
      provisions of subsection (d) of this Section, or (iii) by way of
      pledge or assignment of a security interest subject to the restrictions of
      subsection (f) of this Section (and any other attempted assignment or
      transfer by any party hereto shall be null and void). 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,
      Participants to the extent provided in subsection (d) of this Section and,
      to the extent expressly contemplated hereby, the Related Parties of each of
      the
      Administrative Agent, the L/C Issuers and the Lenders) any legal or equitable
      right, remedy or claim under or by reason of this Agreement.

    

    (b) Assignments
      by Lenders. Any Lender may at any time assign to one or more Eligible
      Assignees all or a portion of its rights and obligations under this Agreement
      (including all or a portion of its Commitment and the Loans (including for
      purposes of this subsection (b), participations in L/C Obligations and in
      Swingline Loans) at the time owing to it); provided that

    

    (i) except
      in the case of an assignment of the entire remaining amount of the assigning
      Lender’s Commitment and the Loans at the time owing to it or in the case of an
      assignment to a Lender or an Affiliate of a Lender or an Approved Fund, the
      aggregate amount of the Commitment (which for this purpose includes Loans
      outstanding thereunder) or, if the Commitments are not then in effect, the
      outstanding principal balance of the 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 or,
      if
“Trade Date” is specified in the Assignment and Assumption, as of the Trade
      Date, shall not be less than (A) in the case of a Revolving Commitment and/or
      Revolving Loans, $5,000,000 and (B) in the case of the Tranche B Term Loan,
      $1,000,000, unless each of the Administrative Agent and, so long as no Event
      of
      Default has occurred and is continuing, the Borrower otherwise consents (each
      such consent not to be unreasonably withheld or delayed); provided,
however, that concurrent assignments to members of an Assignee Group
      and
      concurrent assignments from members of an Assignee Group to a single Eligible
      Assignee (or to an Eligible Assignee and members of its Assignee Group) will
      be
      treated as a single assignment for purposes of determining whether such minimum
      amount has been met;

    

    (ii) 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 with respect
      to the Loans or the Commitment assigned, except that this clause (ii) shall
      not apply to rights in respect of the Swingline Loans;

    

    (iii) any
      assignment of a Revolving Commitment must be approved by the Administrative
      Agent, the Swingline Lender and each L/C Issuer unless the Person that is the
      proposed assignee is itself a Lender (whether or not the proposed assignee
      would
      otherwise qualify as an Eligible Assignee); and

    
 

    
      
         

      

      
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    (iv) the
      parties to each assignment shall execute and deliver to the Administrative
      Agent
      an Assignment and Assumption, together with a processing and recordation fee
      in
      the amount, if any, required as set forth in Schedule 11.06, and the
      Eligible Assignee, if it shall not be a Lender, shall deliver to the
      Administrative Agent an Administrative Questionnaire.

    

    Subject
      to acceptance and recording thereof by the Administrative Agent pursuant to
      subsection (c) of this Section 11.06, from and after the effective
      date specified in each Assignment and Assumption, the Eligible Assignee
      thereunder shall be a party to this Agreement 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 3.01, 3.04,
3.05, and 11.04 with respect to facts and circumstances occurring
      prior to the effective date of such assignment). Upon request, the Borrower
      (at
      its expense) shall execute and deliver a Note to the assignee Lender. Any
      assignment or transfer by a Lender of rights or obligations under this Agreement
      that does not comply with this subsection 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 subsection (d) of this Section.

    

    (c) Register.
      The Administrative Agent, acting solely for this purpose as an agent of the
      Borrower, shall maintain at the Administrative Agent’s Office 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 Commitments of, and principal
      amounts of the Loans and L/C Obligations 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 Borrower, the Administrative Agent 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 each of the Borrower and the L/C Issuers at any reasonable time
      and from time to time upon reasonable prior notice. In addition, at any time
      that a request for a consent for a material or other substantive change to
      the
      Loan Documents is pending, any Lender may request and receive from the
      Administrative Agent a copy of the Register.

    

    (d) Participations.
      Any Lender may at any time, without the consent of, or notice to, the Borrower
      or the Administrative Agent, sell participations to any Person (other than
      a
      natural person or the Borrower or any of the Borrower’s Affiliates or
      Subsidiaries) (each, a “Participant”) in all or a portion of such
      Lender’s rights and/or obligations under this Agreement (including all or a
      portion of its Commitment and/or the Loans (including such Lender’s
      participations in L/C Obligations and/or Swingline Loans) owing to it);
provided that (i) such Lender’s obligations under this Agreement
      shall remain unchanged, (ii) such Lender shall remain solely responsible to
      the other parties hereto for the performance of such obligations and
      (iii) the

     

    
      
         

      

      
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    Borrower,
      the Administrative Agent, the Lenders and the L/C Issuers shall continue to
      deal
      solely and directly with such Lender in connection with such Lender’s rights and
      obligations under this Agreement.

    

    Any
      agreement or instrument pursuant to which a Lender sells such a participation
      shall provide that such Lender shall retain the sole right to enforce this
      Agreement and to approve any amendment, modification or waiver of any provision
      of this Agreement; provided that such agreement or instrument may provide
      that such Lender will not, without the consent of the Participant, agree to
      any
      amendment, waiver or other modification described in the first proviso to
Section 11.01 that affects such Participant. Subject to
      subsection (e) of this Section, the Borrower agrees that each Participant
      shall be entitled to the benefits of Sections 3.01, 3.04 and
3.05 to the same extent as if it were a Lender
      and had
      acquired its interest by assignment pursuant to subsection (b) of this
      Section. To the extent permitted by law, each Participant also shall be entitled
      to the benefits of Section 11.08 as though it were a
      Lender, provided such Participant agrees to be subject to
Section 2.13 as though it were a Lender.

    

    (e) Limitation
      on Participation Rights. A Participant shall not be entitled to receive any
      greater payment under Section 3.01 or 3.04 than
      the applicable Lender would have been entitled to receive with respect to the
      participation sold to such Participant, unless the sale of the participation
      to
      such Participant is made with the Borrower’s prior written consent. A
      Participant that would be a Foreign Lender or a Lender not otherwise exempt
      from
      backup withholding and information reporting if it were a Lender shall not
      be
      entitled to the benefits of Section 3.01 unless the Borrower is
      notified of the participation sold to such Participant and such Participant
      agrees, for the benefit of the Borrower, to comply with Section 3.01(e)
as though it were a Lender.

    

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

    

    (g) Electronic
      Execution of Assignments. The words “execution,” “signed,” “signature,” and
      words of like import in any Assignment and Assumption shall be deemed to include
      electronic signatures or the keeping of records in electronic form, each of
      which shall be of the same legal effect, validity or enforceability as a
      manually executed signature or the use of a paper-based recordkeeping system,
      as
      the case may be, to the extent and as provided for in any applicable law,
      including the Federal Electronic Signatures in Global and National Commerce
      Act,
      the New York State Electronic Signatures and Records Act, or any other similar
      state laws based on the Uniform Electronic Transactions Act.

    

    (h) Resignation
      Swingline Lender after Assignment. Notwithstanding anything to the contrary
      contained herein, if at any time PNC assigns all of its Commitment and Loans
      pursuant to subsection (b) above, PNC may, upon 30 days’ notice to the
      Borrower and the Lenders, resign as Swingline Lender. In the event of any such
      resignation as Swingline Lender, the Borrower

     

    
      
         

      

      
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    shall
      be
      entitled to appoint from among the Lenders a successor Swingline Lender
      hereunder; provided, however, that no failure by the Borrower to
      appoint any such successor shall affect the resignation of PNC as Swingline
      Lender. If PNC resigns as Swingline Lender, it shall retain all the rights
      of
      the Swingline Lender provided for hereunder with respect to Swingline Loans
      made
      by it and outstanding as of the effective date of such resignation, including
      the right to require the Lenders to make Base Rate Committed Loans or fund
      risk
      participations in outstanding Swingline Loans pursuant to
Section 2.04(c)). Upon the appointment of a successor Swingline
      Lender, such successor shall succeed to and become vested with all of the
      rights, powers, privileges and duties of the retiring Swingline
      Lender.

    

    (i) Resignation
      as an L/C Issuer after Assignment. Notwithstanding anything to the contrary
      contained herein, if at any time Bank of America, PNC or any other Lender that
      is also acting as an L/C Issuer hereunder assigns all of its Commitment and
      Loans pursuant to subsection (b) above, Bank of America, PNC or such Lender
      may, upon 30 days’ notice to the Borrower and the Lenders, resign as an L/C
      Issuer. In the event of any such resignation as an L/C Issuer, the Borrower
      shall be entitled to appoint from among the Lenders a successor L/C Issuer
      hereunder; provided, however, that no failure by the Borrower to
      appoint any such successor shall affect the resignation of Bank of America,
      PNC
      or such Lender as an L/C Issuer. If Bank of America, PNC or such other Lender
      resigns as an L/C Issuer, it shall retain all the rights, powers, privileges
      and
      duties of an L/C Issuer hereunder with respect to all Letters of Credit
      outstanding as of the effective date of its resignation as an L/C Issuer and
      all
      L/C Obligations with respect thereto (including the right to require the Lenders
      to make Base Rate Committed Loans or fund risk participations in Unreimbursed
      Amounts pursuant to Section 2.03(c)). Upon the appointment of a
      successor L/C Issuer, (a) such successor shall succeed to and become vested
      with all of the rights, powers, privileges and duties of the retiring L/C
      Issuer, and (b) the successor L/C Issuer shall issue letters of credit in
      substitution for the Letters of Credit, if any, outstanding at the time of
      such
      succession or make other arrangements satisfactory to Bank of America, PNC
      or
      such Lender to effectively assume the obligations of Bank of America, PNC or
      such applicable Lender with respect to such Letters of Credit.

    

    11.07 Treatment
      of Certain Information;
      Confidentiality.

    

    Each
      of
      the Administrative Agent, the Lenders and each L/C Issuer agrees to maintain
      the
      confidentiality of the Information (as defined below), except that Information
      may be disclosed (a) to its Affiliates and to its and its Affiliates’
respective partners, directors, officers, employees, agents, advisors, auditors
      and representatives (it being understood that the Persons to whom such
      disclosure is made will be informed of the confidential nature of such
      Information and instructed to keep such Information confidential), (b) to
      the extent requested by any regulatory authority purporting to have jurisdiction
      over it (including any self-regulatory authority, such as the National
      Association of Insurance Commissioners), (c) to the extent required by
      applicable laws or regulations or by any subpoena or similar legal process,
      (d) to any other party hereto, (e) in connection with the exercise of
      any remedies hereunder or under any other Loan Document or any action or
      proceeding relating to this Agreement or any other Loan Document or the
      enforcement of rights hereunder or thereunder, (f) subject to an agreement
      containing provisions substantially the same as those of this Section, to
      (i) any assignee of or Participant in, or any prospective assignee of or
      Participant in, any of its rights or obligations under this
      Agreement,

     

    
      
         

      

      
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    (ii)
      any
      pledgee referred to in Section 11.06(f) or (iii) any actual or
      prospective counterparty (or its advisors) to any swap or derivative transaction
      relating to the Borrower and its obligations, (g) with the consent of the
      Borrower or (h) to the extent such Information (x) becomes publicly
      available other than as a result of a breach of this Section 11.07 or
      (y) becomes available to the Administrative Agent, any Lender, any L/C
      Issuer or any of their respective Affiliates on a nonconfidential basis from
      a
      source other than the Borrower.

    

    For
      purposes of this Section 11.07, “Information” means all
      information received from the Borrower or any Subsidiary relating to the
      Borrower or any Subsidiary or any of their respective businesses, other than
      any
      such information that is available to the Administrative Agent, any Lender
      or
      any L/C Issuer on a nonconfidential basis prior to disclosure by the Borrower
      or
      any Subsidiary, provided that, in the case of information received from
      the Borrower or any Subsidiary 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
      of
      the Administrative Agent, the Lenders and each L/C Issuer acknowledges that
      (a) the Information may include material non-public information concerning
      the Borrower or a Subsidiary, as the case may be, (b) it has developed
      compliance procedures regarding the use of material non-public information
      and
      (c) it will handle such material non-public information in accordance with
      applicable Law, including Federal and state securities Laws.

    

    11.08 Set-off.

    

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

     

    
      
         

      

      
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    11.09 Interest
      Rate Limitation.

    

    Notwithstanding
      anything to the contrary contained in any Loan Document, the interest paid
      or
      agreed to be paid under the Loan Documents shall not exceed the maximum rate
      of
      non-usurious interest permitted by applicable Law (the “Maximum Rate”).
      If the Administrative Agent or any Lender shall receive interest in an amount
      that exceeds the Maximum Rate, the excess interest shall be applied to the
      principal of the Loans or, if it exceeds such unpaid principal, refunded to
      the
      Borrower. In determining whether the interest contracted for, charged, or
      received by the Administrative Agent or a Lender exceeds the Maximum Rate,
      such
      Person may, to the extent permitted by applicable Law, (a) characterize any
      payment that is not principal as an expense, fee, or premium rather than
      interest, (b) exclude voluntary prepayments and the effects thereof, and
      (c) amortize, prorate, allocate, and spread in equal or unequal parts the
      total amount of interest throughout the contemplated term of the Obligations
      hereunder.

    

    11.10 Counterparts;
      Integration; Effectiveness.

    

    This
      Agreement may be executed in counterparts (and by different parties hereto
      in
      different counterparts), each of which shall constitute an original, but all
      of
      which when taken together shall constitute a single contract. This Agreement
      and
      the other Loan Documents constitute the entire contract among the parties
      relating to the subject matter hereof and supersede any and all previous
      agreements and understandings, oral or written, relating to the subject matter
      hereof. Except as provided in Section 5.01, 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 that,
      when taken together, bear the signatures of each of the other parties hereto.
      Delivery of an executed counterpart of a signature page of this Agreement by
      telecopy shall be effective as delivery of a manually executed counterpart
      of
      this Agreement.

    

    11.11 Survival
      of Representations and Warranties.

    

    All
      representations and warranties made hereunder and in any other Loan Document
      or
      other document delivered pursuant hereto or thereto or in connection herewith
      or
      therewith shall survive the execution and delivery hereof and thereof. Such
      representations and warranties have been or will be relied upon by the
      Administrative Agent and each Lender, regardless of any investigation made
      by
      the Administrative Agent or any Lender or on their behalf and notwithstanding
      that the Administrative Agent or any Lender may have had notice or knowledge
      of
      any Default at the time of any Credit Extension, and shall continue in full
      force and effect until such time as the Obligations under the Loan Documents
      have been Fully Satisfied.

    

    11.12 Severability.

    

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

    

    11.13 Replacement
      of Lenders.

    

    If
      (i) any Lender requests
      compensation under Section 3.04, (ii) the Borrower is required
      to pay any additional amount to any Lender or any Governmental Authority for
      the
      account of any Lender pursuant to Section 3.01, (iii) any Lender
      delivers a notice pursuant to Section 3.02 with respect to
      circumstances that do not affect the other Lenders hereunder, (iv) a Lender
      does
      not consent to a proposed change, waiver, discharge or termination with respect
      to any Loan Document that requires unanimous consent of all Lenders and that
      has
      been approved by the Required Lenders as provided in Section 11.01,
      or (v) any Lender is 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,
      and
      consents required by, Section 11.06), all of its interests, rights
      and obligations under this Agreement and the related Loan Documents to an
      assignee that shall assume such obligations (which assignee may be another
      Lender, if a Lender accepts such assignment), provided that:

    

    (a) the
      Borrower shall have paid to the Administrative Agent the assignment fee
      specified in Section 11.06(b);

    

    (b) such
      Lender shall have received payment of an amount equal to the outstanding
      principal of its Loans and L/C Advances, accrued interest thereon, accrued
      fees
      and all other amounts payable to it hereunder and under the other Loan Documents
      (including any amounts under Section 3.05) from the assignee (to the
      extent of such outstanding principal and accrued interest and fees) or the
      Borrower (in the case of all other amounts);

    

    (c) in
      the case of any such assignment resulting from a claim for compensation under
      Section 3.04 or payments required to be made pursuant to
Section 3.01, such assignment will result in a reduction in such
      compensation or payments thereafter; and

    

    (d) such
      assignment does not conflict with applicable Laws; and

    

    (e) in
      the case of any such assignment resulting from a Lender’s failure to consent to
      a proposed change, waiver, discharge or termination with respect to any Loan
      Document, the applicable amendment, modification and/or waiver of this Agreement
      that the Borrower has requested shall become effective upon giving effect to
      such assignment (and any related assignments required to be effected in
      connection therewith in accordance with this
Section 11.06).

    
 

    
      
         

      

      
        127

        
          

        

      

      
         

      

    

     

    A
      Lender
      shall not be required to make any such assignment or 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.

    

    11.14 Governing
      Law; Jurisdiction; Etc.

    

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

    

    (b) SUBMISSION
      TO JURISDICTION. THE BORROWER AND EACH OTHER LOAN PARTY IRREVOCABLY AND
      UNCONDITIONALLY SUBMITS, FOR ITSELF AND ITS PROPERTY, TO THE NONEXCLUSIVE
      JURISDICTION OF THE COURTS OF THE STATE OF NEW YORK SITTING IN NEW YORK 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 ANY OTHER LOAN DOCUMENT, OR FOR
      RECOGNITION OR ENFORCEMENT OF ANY JUDGMENT, AND EACH OF THE PARTIES HERETO
      IRREVOCABLY AND UNCONDITIONALLY AGREES THAT ALL CLAIMS IN RESPECT OF ANY SUCH
      ACTION OR PROCEEDING MAY BE HEARD AND DETERMINED IN SUCH NEW YORK STATE COURT
      OR, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE 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 OR IN ANY OTHER LOAN DOCUMENT SHALL AFFECT ANY RIGHT THAT THE
      ADMINISTRATIVE AGENT, ANY LENDER OR ANY L/C ISSUER MAY OTHERWISE HAVE TO BRING
      ANY ACTION OR PROCEEDING RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT
      AGAINST THE BORROWER OR ANY OTHER LOAN PARTY OR ITS
      PROPERTIES IN THE COURTS OF ANY JURISDICTION.

    

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

    

    (d) SERVICE
      OF PROCESS. EACH PARTY HERETO IRREVOCABLY CONSENTS TO SERVICE OF PROCESS IN
      THE MANNER PROVIDED FOR NOTICES IN SECTION 11.02. NOTHING IN THIS
      AGREEMENT WILL AFFECT THE RIGHT OF ANY

     

    
      
         

      

      
        128

        
          

        

      

      
         

      

    

     

    PARTY
      HERETO TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY APPLICABLE
      LAW.

    

    11.15 Waiver
      of Jury Trial.

    

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

    

    11.16 Term
      of Agreement.

    

    The
      term
      of this Agreement shall be until the Obligations under the Loan
      Documents have been Fully Satisfied.

    

    11.17 USA
      PATRIOT Act Notice.

    

    Each
      Lender that is subject to the Act (as hereinafter defined) and the
      Administrative Agent (for itself and not on behalf of any Lender) hereby
      notifies each Loan Party that pursuant to the requirements of the USA Patriot
      Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001))
      (the “Act”), it is required to obtain, verify and record information that
      identifies such Loan Party, which information includes the name and address
      of
      such Loan Party and other information that will allow such Lender or the
      Administrative Agent, as applicable, to identify such Loan Party in accordance
      with the Act.

    

    11.18 Subordination
      of Intercompany Debt.

    

    Each
      Loan
      Party agrees that all intercompany Indebtedness among Loan Parties (the
“Intercompany Debt”) is subordinated in right of payment, to the prior
      payment in full of all Obligations. Notwithstanding any provision of this
      Agreement to the contrary, provided that no Event of Default has occurred and
      is
      continuing, Loan Parties may make and receive payments with respect to the
      Intercompany Debt to the extent otherwise permitted by this Agreement; provided,
      that in the event of and during the continuation of any Event of Default, under
      Section 9.01(a) or in the event the maturity of the Loans is accelerated
      under Section 9.02, no payment shall be made by or on behalf of any Loan
      Party on account of any Intercompany Debt after the Administrative Agent shall
      have delivered a written notice to the Borrower to such effect. In the event
      that any Loan Party receives any payment of any Intercompany Debt at a time
      when
      such payment is prohibited by this Section 11.18, such payment shall
      be held by such Loan Party, in

     

    
      
         

      

      
        129

        
          

        

      

      
         

      

    

     

    trust
      for
      the benefit of, and shall be paid forthwith over and delivered, upon written
      request, to, the Administrative Agent.

    

    11.19 Matters
      Related to Existing Indentures.

    

    The
      Lenders hereby ratify and approve the amendments set forth in (i) the fourth
      supplemental indenture dated as of January 31, 2005, to the 2003 16% Junior
      Note
      Indenture; (ii) the amendment to the purchase agreement dated as of January
      31,
      2005, to the 2003 16% Junior Note Purchase Agreement; and (iii) the first
      supplemental indenture dated as of January 28, 2005, to the 2003 Senior Note
      Indenture.

     

    11.20 Permitted
      Receivables Financings.

    

    (a) Each
      Lender, the Administrative Agent and the Collateral Agent agrees that, prior
      to
      the date that is one year and one day after the payment in full of all the
      obligations in respect of the Attributed Principal Amount in respect of any
      Permitted Receivables Financing, (i) it shall not be entitled, whether
      before or after the occurrence of any Event of Default, to (A) institute
      against, or join any other Person in instituting against, any Receivables
      Financing SPC any bankruptcy, reorganization, arrangement, insolvency or
      liquidation proceeding under the laws of the United States or any State thereof,
      (B) transfer and register the Capital Stock of any Receivables Financing
      SPC or any other instrument evidencing any Investment in any Receivables
      Financing SPC in its name or the name of any of its designees or nominees,
      (C) foreclose such security interest in the Capital Stock of any
      Receivables Financing SPC regardless of the bankruptcy or insolvency of any
      Loan
      Party, (D) exercise any voting rights granted or appurtenant to such
      Capital Stock of any Receivables Financing SPC or any other instrument
      evidencing any Investment therein or (E) enforce any right that the holder
      of any such Capital Stock of any Receivables Financing SPC or any other
      instrument evidencing any Investment therein might otherwise have to liquidate,
      consolidate, combine, collapse or disregard the entity status of such
      Receivables Financing SPC and (ii) it hereby waives and releases any right
      to require (A) that any Receivables Financing SPC be in any manner merged,
      combined, collapsed or consolidated with or into any Loan Party, including
      by
      way of substantive consolidation in a bankruptcy case or (B) that the
      status of any Receivables Financing SPC as a separate entity be in any respect
      disregarded; provided, however, that the provisions of this
Section 11.20 shall cease to be of any force or effect when the
      Obligations have been paid in full and the Revolving Commitments have been
      terminated or expired; and provided further, that the provisions hereof will
      not
      apply to a Lender, the Administrative Agent or the Collateral Agent in its
      capacity as a holder of any Indebtedness or other asset included in the
      Attributed Principal Amount or its ability to exercise any rights thereunder.
      Each Lender, the Administrative Agent and the Collateral Agent agree and
      acknowledge that each Receivables Financier is an express third party
      beneficiary with respect to this Section 11.20 (and only this
Section 11.20) and such agent shall have the right to enforce
      compliance by the parties hereto with this
Section 11.20.

    

    (b) Upon
      the transfer or purported transfer by the Borrower or any Consolidated Party
      of
      Transferred Assets to a Receivables Financing SPC in a Permitted Receivables
      Financing, the Liens with respect to such Transferred Assets under the Security
      Documents shall automatically

     

     

    
      
         

      

      
        130

        
          

        

      

      
         

      

    

     

     be
      released (and each of the Administrative Agent and the Collateral Agent, as
      applicable, is hereby authorized to execute and enter into any such releases
      and
      other documents as the Borrower may reasonably request in order to give effect
      thereto).

     

    (c) Each
      Lender hereby authorizes and directs each of the Administrative Agent and the
      Collateral Agent, as applicable, in connection with any Permitted Receivables
      Financing, upon the request and at the expense of the Borrower, to enter into
      an
      intercreditor agreement with the applicable Receivables Financier to facilitate
      the establishment of such Permitted Receivables Financing and to effect the
      purposes of the provisions of this Agreement relating to Permitted Receivables
      Financings.Third Amendment to Renewal Agreement

    
      

    

    Exhibit
      10.5

    

     

    THIRD
      AMENDMENT TO RENEWAL AGREEMENT

     

    THIS
      THIRD AMENDMENT TO RENEWAL AGREEMENT (this
      “Third Amendment”), dated
      as
      of August 30, 2005, is between CNL
      HOTELS & RESORTS, INC. (f/k/a
      CNL Hospitality Properties, Inc.), a Maryland corporation (the “Company”), and
CNL
      HOSPITALITY CORP.,
      a
      Florida corporation (the “Advisor”). (Each a “Party”, and collectively the
“Parties”). Defined terms used herein but not otherwise defined shall have the
      meanings ascribed to such terms in that certain Renewal Agreement, dated as
      of
      March 31, 2005, by and between the Parties (the “Renewal
      Agreement”).

     

    R
      E C I T A L S:

     

    WHEREAS,
      the
      Parties previously have entered into the Renewal Agreement; and

     

    1)WHEREAS,
      Paragraph Three of the Renewal Agreement provided that i)
      in the
      event that the Parties cannot agree, after good faith negotiations, upon a
      new
      Rate on or before July 1, 2005 (the “Arbitration Date”), the Parties shall
      submit the determination of the Rate to binding arbitration, so long as such
      arbitration shall not be inconsistent with applicable law or the Company’s
      Articles of Amendment and Restatement, as amended (the “Charter”), and
ii)
      if it is
      determined by the Company that arbitration is specifically inconsistent with
      applicable law or the Charter, the Company shall notify the Advisor in writing
      prior to July 1, 2005 (the “Notification Date”) and the Parties will negotiate
      in good faith to agree upon an alternative method to determine the new Rate;
      and

     

    WHEREAS,
      the
      Parties agreed to extend until August 1, 2005 the Arbitration Date and the
      Notification Date under the terms of the First Amendment to Renewal Agreement,
      dated as of June 30, 2005 (the “First Amendment”); and

     

    WHEREAS,
      the
      Parties agreed to extend until September 1, 2005 the Arbitration Date and the
      Notification Date under the terms of the Second Amendment to Renewal Agreement,
      dated as of July 29, 2005 (the “Second Amendment”); and

     

    WHEREAS,
      the
      Parties desire to extend until October 1, 2005 the Arbitration Date and the
      Notification Date upon the terms and conditions set forth herein.

     

    NOW,
      THEREFORE, in
      consideration of the foregoing and of the mutual covenants and agreements
      contained herein, the Parties agree as follows:

     

    1. Paragraph
      Three of the Renewal Agreement (as amended by the First Amendment and the Second
      Amendment) is amended by deleting the reference to September 1, 2005 in each
      of
      the fifth and sixth sentences and replacing such date with October 1,
      2005.

     

    2. Except
      as
      amended above, the Renewal Agreement shall remain in full force and effect.
      

     

    3. This
      Third Amendment may be executed in counterparts, each of which shall be deemed
      an original and all of which, together, shall constitute a single
      instrument.

     

    IN
      WITNESS WHEREOF,
      the
      Parties have duly executed this Third Amendment as of the date and year first
      above written. 

    

     

    
      
        	 	 	 
	 	       
                CNL HOTELS & RESORTS, INC.
	 
 	 
 	 (f/k/a
                CNL Hospitality Properties, Inc.)
 
	 	By:  	/s/ C.
                Brian Strickland
	 	
                
Name:
                C. Brian Strickland
	 	Its:
                Executive Vice President and
                Secretary

      

      
        	 	 	 
	 	       
                CNL HOSITALITY CORP.
	 
 	 
 	 
 
	 	By:  	/s/ James
                M. Seneff
	 	
                
Name:
                James M. Seneff
	 	Its:
                Director and Chairman

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