Document:

exv4w1

Exhibit 4.1

EXECUTION COPY

 

Published CUSIP Number: 86037LAD1

THIRD AMENDED AND RESTATED

CREDIT AGREEMENT

Dated as of April 20, 2011

among

STEWART ENTERPRISES, INC.,

EMPRESAS STEWART-CEMENTERIOS,

and

EMPRESAS STEWART-FUNERARIAS,

as Borrowers,

BANK OF AMERICA, N.A.,

as Administrative Agent, Collateral Agent, Swing Line Lender

and

L/C Issuer,

SUNTRUST BANK

and

JPMORGAN CHASE BANK, N.A.,

as Co-Syndication Agents,

REGIONS BANK

and

BBVA COMPASS BANK,

as Co-Documentations Agents

and

The Other Lenders Party Hereto

MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED,

as Sole Lead Arranger and Joint Book Runner

 

 

 

TABLE OF CONTENTS

	 	 	 	 	 
	Section
	 	Page	 
	ARTICLE I.
	 	 
	DEFINITIONS AND ACCOUNTING TERMS
	 
	 
	 	 	 	 
	1.01 Assignments and Allocations; Amendment and Restatement
	 	 	2	 
	1.02 Defined Terms
	 	 	4	 
	1.03 Other Interpretive Provisions
	 	 	37	 
	1.04 Accounting Adjustments
	 	 	38	 
	1.05 Accounting Terms
	 	 	39	 
	1.06 Rounding
	 	 	40	 
	1.07 Times of Day
	 	 	40	 
	1.08 Letter of Credit Amounts
	 	 	40	 
	 
	 	 	 	 
	ARTICLE II.
	 	 
	THE COMMITMENTS AND CREDIT EXTENSIONS
	 
	 
	 	 	 	 
	2.01 Committed Loans
	 	 	40	 
	2.02 Borrowings, Conversions and Continuations of Committed Loans
	 	 	41	 
	2.03 Letters of Credit
	 	 	42	 
	2.04 Swing Line Loans
	 	 	51	 
	2.05 Prepayments
	 	 	54	 
	2.06 Termination or Reduction of Commitments
	 	 	54	 
	2.07 Repayment of Loans
	 	 	55	 
	2.08 Interest
	 	 	55	 
	2.09 Fees
	 	 	56	 
	2.10 Computation of Interest and Fees; Retroactive Adjustments of Applicable Rate
	 	 	56	 
	2.11 Evidence of Debt
	 	 	57	 
	2.12 Payments Generally; Administrative Agent’s Clawback
	 	 	57	 
	2.13 Sharing of Payments by Lenders
	 	 	59	 
	2.14 Increase in Commitments
	 	 	60	 
	2.15 Joint and Several Borrowers
	 	 	61	 
	2.16 SEI as Borrowing Agent
	 	 	63	 
	2.17 Removal of PR Borrowers
	 	 	64	 
	2.18 Cash Collateral
	 	 	65	 
	2.19 Defaulting Lenders
	 	 	66	 

i

 

	 	 	 	 	 
	 Section
	 	Page	 
	ARTICLE III.
	 
	
TAXES, YIELD PROTECTION AND ILLEGALITY
	 
	 
	 	 	 	 
	3.01 Taxes
	 	 	67	 
	3.02 Illegality
	 	 	71	 
	3.03 Inability to Determine Rates
	 	 	72	 
	3.04 Increased Costs; Reserves on Eurodollar Rate Loans
	 	 	72	 
	3.05 Compensation for Losses
	 	 	74	 
	3.06 Mitigation Obligations; Replacement of Lenders
	 	 	74	 
	3.07 Survival
	 	 	75	 
	 
	 	 	 	 
	      ARTICLE IIIA.

	 
	SECURITY
	 
	 
	 	 	 	 
	3A.01 Security
	 	 	75	 
	3A.02 Further Assurances
	 	 	76	 
	3A.03 Information Regarding Collateral
	 	 	76	 
	3A.04 Release of Guarantors, Collateral and Pledged Interests
	 	 	77	 
	 
	 	 	 	 
	ARTICLE IV.
	 
	CONDITIONS PRECEDENT TO CREDIT EXTENSIONS
	 
	 
	 	 	 	 
	4.01 Conditions of Amendment and Restatement
	 	 	77	 
	4.02 Conditions to all Credit Extensions
	 	 	80	 
	 
	 	 	 	 
	ARTICLE V.
	 
	REPRESENTATIONS AND WARRANTIES
	 
	 
	 	 	 	 
	5.01 Organization and Authority
	 	 	81	 
	5.02 Loan Documents
	 	 	81	 
	5.03 Solvency
	 	 	82	 
	5.04 Subsidiaries and Stockholders
	 	 	82	 
	5.05 Ownership Interests
	 	 	82	 
	5.06 Financial Condition
	 	 	82	 
	5.07 Title to Properties
	 	 	83	 
	5.08 Taxes
	 	 	83	 
	5.09 Other Agreements
	 	 	83	 
	5.10 Litigation
	 	 	83	 
	5.11 Margin Stock
	 	 	84	 
	5.12 Regulated Company
	 	 	84	 
	5.13 Intellectual Property, Licenses, Etc.
	 	 	84	 

ii

 

	 	 	 	 	 
	Section
	 	Page	 
	5.14 No Untrue Statement
	 	 	84	 
	5.15 No Consents, Etc.
	 	 	85	 
	5.16 Employee Benefit Plans
	 	 	85	 
	5.17 No Default
	 	 	86	 
	5.18 Environmental Laws
	 	 	86	 
	5.19 Employment Matters
	 	 	86	 
	5.20 Deathcare Industry
	 	 	87	 
	 
	 	 	 	 
	ARTICLE VI.
	 
	AFFIRMATIVE COVENANTS
	 
	 
	 	 	 	 
	6.01 Financial Reports, Etc.
	 	 	87	 
	6.02 Maintain Properties
	 	 	90	 
	6.03 Existence, Qualification, Etc.
	 	 	90	 
	6.04 Regulations and Taxes
	 	 	90	 
	6.05 Insurance
	 	 	90	 
	6.06 True Books
	 	 	90	 
	6.07 Right of Inspection
	 	 	91	 
	6.08 Observe All Laws
	 	 	91	 
	6.09 Governmental Licenses
	 	 	91	 
	6.10 Covenants Extending to Other Persons
	 	 	91	 
	6.11 Officer’s Knowledge of Default
	 	 	91	 
	6.12 Suits or Other Proceedings
	 	 	91	 
	6.13 Notice of Environmental Complaint or Condition
	 	 	91	 
	6.14 Environmental Compliance
	 	 	92	 
	6.15 Indemnification
	 	 	92	 
	6.16 Further Assurances
	 	 	92	 
	6.17 Employee Benefit Plans
	 	 	92	 
	6.18 Continued Operations
	 	 	93	 
	6.19 New Subsidiaries
	 	 	93	 
	6.20 Use of Proceeds
	 	 	95	 
	 
	 	 	 	 
	ARTICLE VII.
	 
	NEGATIVE COVENANTS
	 
	 
	 	 	 	 
	7.01 Financial Covenants
	 	 	96	 
	7.02 Acquisitions
	 	 	96	 

iii

 

	 	 	 	 	 
	Section
	 	Page	 
	7.03 Capital Expenditures
	 	 	97	 
	7.04 Liens
	 	 	97	 
	7.05 Indebtedness
	 	 	98	 
	7.06 Transfer of Assets
	 	 	101	 
	7.07 Investments
	 	 	102	 
	7.08 Merger or Consolidation
	 	 	103	 
	7.09 Restricted Payments
	 	 	104	 
	7.10 Transactions with Affiliates
	 	 	104	 
	7.11 Compliance with ERISA, the Code and Foreign Benefit Laws
	 	 	104	 
	7.12 Fiscal Year
	 	 	105	 
	7.13 Dissolution, Etc.
	 	 	105	 
	7.14 Limitations on Sales and Leasebacks
	 	 	105	 
	7.15 Change in Control
	 	 	106	 
	7.16 Negative Pledge Clauses
	 	 	106	 
	7.17 Prepayments, Etc., of Indebtedness
	 	 	106	 
	7.18 Limitations on Upstreaming
	 	 	107	 
	 
	 	 	 	 
	ARTICLE VIII.

	 
	EVENTS OF DEFAULT AND REMEDIES
	 
	 
	 	 	 	 
	8.01 Events of Default
	 	 	107	 
	8.02 Remedies Upon Event of Default
	 	 	109	 
	8.03 Application of Funds
	 	 	110	 
	 
	 	 	 	 
	ARTICLE IX.
	 
	ADMINISTRATIVE AGENT AND COLLATERAL AGENT
	 
	 
	 	 	 	 
	9.01 Appointment and Authority
	 	 	111	 
	9.02 Rights as a Lender
	 	 	112	 
	9.03 Exculpatory Provisions
	 	 	112	 
	9.04 Reliance by Administrative Agent and Collateral Agent
	 	 	113	 
	9.05 Delegation of Duties
	 	 	113	 
	9.06 Resignation of Administrative Agent/Collateral Agent
	 	 	113	 
	9.07 Non-Reliance on Administrative Agent, Collateral Agent and Other Lenders
	 	 	115	 
	9.08 No Other Duties, Etc.
	 	 	115	 
	9.09 Administrative Agent May File Proofs of Claim
	 	 	115	 
	9.10 Collateral and Guaranty Matters
	 	 	116	 

iv

 

	 	 	 	 	 
	Section
	 	Page	 
	9.11 Secured Cash Management Agreements and Secured Hedge Agreements
	 	 	116	 
	 
	 	 	 	 
	ARTICLE X.
	 
	
MISCELLANEOUS
	 
	 
	 	 	 	 
	10.01 Amendments, Etc.
	 	 	117	 
	10.02 Notices; Effectiveness; Electronic Communication
	 	 	118	 
	10.03 No Waiver; Cumulative Remedies
	 	 	120	 
	10.04 Expenses; Indemnity; Damage Waiver
	 	 	121	 
	10.05 Payments Set Aside
	 	 	123	 
	10.06 Successors and Assigns
	 	 	123	 
	10.07 Treatment of Certain Information; Confidentiality
	 	 	129	 
	10.08 Right of Setoff
	 	 	130	 
	10.09 Interest Rate Limitation
	 	 	130	 
	10.10 Counterparts; Integration; Effectiveness
	 	 	130	 
	10.11 Survival of Representations and Warranties
	 	 	131	 
	10.12 Severability
	 	 	131	 
	10.13 Replacement of Lenders
	 	 	131	 
	10.14 Intentionally Deleted
	 	 	132	 
	10.15 Governing Law; Jurisdiction; Etc.
	 	 	132	 
	10.16 Waiver of Jury Trial
	 	 	133	 
	10.17 No Advisory or Fiduciary Responsibility
	 	 	133	 
	10.18 USA PATRIOT Act Notice
	 	 	134	 
	10.19 ENTIRE AGREEMENT
	 	 	134	 
	 
	SIGNATURES
	 	 	S-1	 

v

 

SCHEDULES

	 	 	 

	1.02(a)

	 	Existing Letters of Credit
	2.01

	 	Commitments and Applicable Percentages
	3A.01

	 	Non-Pledged Subsidiaries
	3A.03

	 	Information Regarding Collateral
	4.01(a)(iv)

	 	Certain Domestic Subsidiaries
	4.01(a)(v)

	 	Local Counsel Jurisdictions
	5.04

	 	Subsidiaries and Investments in Other Persons
	5.05

	 	Other Investments
	5.16(c)

	 	ERISA Matters
	5.19

	 	Employment Matters
	7.04

	 	Existing Liens
	7.05(a)(i)

	 	Existing Indebtedness
	7.05(a)(ii)

	 	Existing Intercompany Indebtedness
	7.07(c)

	 	Existing Investments
	10.02

	 	Administrative Agent’s Office; Certain Addresses for Notices

EXHIBITS

	 	 	 

	 

	 	Form of
	 
	 	 
	A

	 	Committed Loan Notice
	B

	 	Swing Line Loan Notice
	C

	 	Note
	D

	 	Compliance Certificate
	E

	 	Assignment and Assumption
	F

	 	Notice of Appointment (or Revocation) of Responsible Officer
	G

	 	Termination of PR Borrowers
	H

	 	Consolidated Amendment and Reaffirmation Agreement
	I

	 	Remaining Liquidity Certificate

vi

 

THIRD AMENDED AND RESTATED CREDIT AGREEMENT

     This THIRD AMENDED AND RESTATED CREDIT AGREEMENT (“Agreement”) is entered into as of
April 20, 2011, among STEWART ENTERPRISES, INC., a Louisiana corporation having its principal place
of business in Jefferson, Louisiana (“SEI”), EMPRESAS STEWART-CEMENTERIOS, a Puerto Rican
civil partnership having its principal place of business in San Juan, Puerto Rico
(“Cementerios”), EMPRESAS STEWART-FUNERARIAS, a Puerto Rican civil partnership having its
principal place of business in San Juan, Puerto Rico (“Funerarias” and together with
Cementerios, the “PR Borrowers”, and the PR Borrowers and SEI collectively known as the
“Borrowers”), each lender from time to time party hereto (collectively, the
“Lenders” and individually, a “Lender”), and BANK OF AMERICA, N.A., as
Administrative Agent, Collateral Agent, Swing Line Lender and L/C Issuer.

     A. The Borrowers, the lenders party thereto and Bank of America, as administrative agent,
entered into that certain Credit Agreement dated as of June 29, 2001 (the “Original
Agreement”), pursuant to which certain of such lenders originally agreed to make available to
the Borrowers (with certain sublimits for the PR Borrowers) (a) a revolving credit facility of up
to $175,000,000, including a letter of credit subfacility of up to $25,000,000 and a swingline
subfacility of up to $10,000,000, and (b) certain term credit facilities.

     B. The Borrowers, the lenders party thereto and Bank of America, as administrative agent,
entered into that certain Amended and Restated Credit Agreement dated as of November 19, 2004 (the
“First Amended and Restated Credit Agreement”), pursuant to which certain of such lenders
agreed to amend and restate the Original Agreement to, among other things, (a) extend the maturity
date of both the revolving and term loan facilities provided pursuant to the Original Agreement,
(b) increase the term loan facility provided pursuant to the Original Agreement from the then
outstanding $50,000,000 principal amount to an aggregate maximum principal amount of $100,000,000,
which such term loan facility has been repaid and is no longer in effect, and (c) reduce the
maximum aggregate amount of the revolving credit facility provided pursuant to the Original
Agreement from $175,000,000 to $125,000,000 (subject to an increase option provided therein).

     C. The Borrowers, the lenders party thereto and Bank of America, as administrative agent, are
parties to that certain Second Amended and Restated Credit Agreement dated as of June 2, 2009 (as
amended, supplemented or otherwise modified prior to (but excluding) the date hereof, the
“Existing Agreement”), pursuant to which certain of such lenders agreed to amend and
restate the First Amended and Restated Credit Agreement to, among other things, (a) extend the
maturity date of the revolving credit facility provided pursuant to the First Amended and Restated
Credit Agreement and (b) reduce the maximum aggregate amount of the revolving credit facility
provided pursuant to the First Amended and Restated Credit Agreement from $125,000,000 to
$95,000,000 (subject to an increase option provided therein).

     D. The Borrowers have requested that the Existing Agreement be further amended and restated in
order to, among other things, (a) extend the maturity date of the revolving credit
facility, (b) increase the maximum aggregate amount of the revolving credit facility from
$95,000,000 to $150,000,000 (subject to an increase option provided herein) and (c) make

1

 

certain other amendments to the Existing Agreement (collectively, the “Amendment and
Restatement”).

     E. The parties hereto are willing to amend and restate the Existing Agreement, to make and
continue to make revolving credit, letter of credit and swing line facilities available to the
Borrowers and to permit the increase option provided herein, in each case upon the terms and
conditions set forth herein.

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

ARTICLE I.

DEFINITIONS AND ACCOUNTING TERMS

     1.01 Assignments and Allocations; Amendment and Restatement.

     (a) As of the Effective Date (immediately prior to the effectiveness of this Agreement), (i)
the Aggregate Commitments (as defined in the Existing Agreement) under the Revolving Credit
Facility (as defined in the Existing Agreement) are $95,000,000, (ii) there are no Committed Loans
(as defined in the Existing Agreement) outstanding under the Existing Agreement, (iii) there are no
Swing Line Loans (as defined in the Existing Agreement) outstanding under the Existing Agreement
and (iv) there are $7,499,865 of L/C Obligations (as defined in the Existing Agreement).

     (b) Simultaneously with the Effective Date and after giving effect to any assignments on the
Effective Date from existing lenders under the Existing Agreement who elect not to become Lenders
under this Agreement, but immediately prior to giving effect to Section 1.01(e), the
parties hereby agree that (i) the Commitment of each of the Lenders shall be as set forth in
Schedule 2.01, and the outstanding amount of the Committed Loans (as defined in and under
the Existing Agreement, without giving effect to any Borrowings of Loans under this Agreement on
the Effective Date, but after giving effect to any repayment or reduction thereof with the proceeds
of any applicable sources) shall be reallocated in accordance with such Commitments, and the
requisite assignments shall be deemed to be made in such amounts among the Lenders and from each
Lender to each other Lender (including from Lenders who reduce their commitments in connection with
this Agreement), with the same force and effect as if such assignments were evidenced by applicable
Assignments and Assumptions (as defined in the Existing Agreement) under the Existing Agreement,
but without the payment of any related assignment fee and (ii) the Swing Line (as defined under the
Existing Agreement) shall continue as the swing line subfacility hereunder, with the Swing Line
Sublimit set out herein, and the Swing Line Loans (as defined in the Existing Agreement), if any,
shall continue as and deemed to be Swing Line Borrowings hereunder, and (iii) the letter of credit
subfacility provided in the Existing Agreement shall continue as the Letter of Credit facility hereunder with the Letter
of Credit Sublimit set forth herein and any outstanding Letters of Credit issued under the Existing
Agreement shall continue as if issued hereunder.

2

 

     (c) Notwithstanding anything to the contrary in the Existing Agreement or in this Agreement,
no other documents or instruments, including any Assignment and Assumption, shall be, or shall be
required to be, executed in connection with the assignments set forth in Section 1.01(b)
above (all of which requirements are hereby waived), and such assignments shall be deemed to be
made with all applicable representations, warranties and covenants as if evidenced by an Assignment
and Assumption. On the Effective Date, the applicable Lenders shall make full cash settlement with
one another (including with any Lender whose commitments are being decreased), either directly or
through the Administrative Agent, as the Administrative Agent may direct or approve, with respect
to all assignments, reallocations and other changes in Commitments, such that after giving effect
to such settlements (i) the Commitment of each Lender shall be as set forth on Schedule
2.01 to this Agreement, and (ii) each Lender’s Applicable Percentage of the Aggregate
Commitments equals (with customary rounding) its Applicable Percentage of (x) the Outstanding
Amount of all Loans, and (y) the Outstanding Amount of all L/C Obligations.

     (d) The Borrowers, each Guarantor, the Administrative Agent and the Lenders hereby agree that
upon the effectiveness of this Agreement, the terms and provisions of the Existing Agreement that
in any manner govern or evidence the Obligations, the rights and interests of the Administrative
Agent and the Lenders, in any of their respective capacities, and any terms, conditions or matters
related to any thereof, shall be and hereby are amended and restated in their entirety by the
terms, conditions and provisions of this Agreement, and the terms and provisions of the Existing
Agreement, except as otherwise expressly provided herein, shall be superseded by this Agreement.

     (e) Notwithstanding this amendment and restatement of the Existing Agreement, including
anything in this Section 1.01, and certain of the related “Loan Documents” as defined in
the Existing Agreement (the “Prior Loan Documents”), (i) all of the indebtedness,
liabilities and obligations owing by any Borrower under the Existing Agreement and other Prior Loan
Documents shall continue as Obligations hereunder, as amended, supplemented or otherwise modified
by the terms of this Agreement, (ii) each of this Agreement and the Notes and the other Loan
Documents is given as a substitution or supplement of, as the case may be, and not as a payment of,
the indebtedness, liabilities and obligations of the Borrowers and the Guarantors under the
Existing Agreement or any Prior Loan Document and is not intended to constitute a novation thereof
or of any of the other Prior Loan Documents, and (iii) certain of the Prior Loan Documents will
remain in full force and effect, as set forth in this Agreement. Upon the effectiveness of this
Agreement, all Loans owing by any Borrower and outstanding under the Existing Agreement shall
continue as Loans hereunder subject to the terms hereof. Base Rate Loans under the Existing
Agreement shall continue to accrue interest at the Base Rate hereunder and the parties hereto agree
that the Interest Periods for all Eurodollar Rate Loans outstanding under the Existing Agreement on
the Effective Date shall be terminated and shall, along with amounts to be advanced hereunder on the Effective Date, be Eurodollar Rate Loans or Base Rate
Loans under this Agreement for the applicable Interest Periods, as elected by SEI in the manner
provided in Section 2.02(a). SEI agrees that it will pay any additional amounts required
pursuant to Section 3.05 (or the similar provision of the Existing Agreement) in connection
with termination of Interest Periods and the allocation of Loans pursuant to this Section
1.01 as if such Loans were being prepaid or converted prior to the end of an Interest Period,
as applicable.

3

 

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

     “Accounting Adjustments” means the adjustments to certain financial terms and
computations more particularly described in Section 1.04.

     “Acquired Indebtedness” means Indebtedness of a Person that is incurred or assumed by
SEI or any Subsidiary, or as to which SEI or any Subsidiary otherwise becomes liable as debtor
(including by the acquisition of assets securing any such Indebtedness), in connection with an
Acquisition permitted hereunder, including any Indebtedness incurred in contemplation of such
Acquisition.

     “Acquisition” means the acquisition of (i) a controlling equity interest in another
Person (including the purchase of an option, warrant or convertible or similar type security to
acquire such a controlling interest at the time it becomes exercisable by the holder thereof),
whether by purchase of such equity interest or upon exercise of an option or warrant for, or
conversion of securities into, such equity interest, or (ii) assets of another Person which
constitute all or substantially all of the assets of such Person or of a line or lines of business
conducted by such Person.

     “Additional Lender” has the meaning set forth in Section 2.14.

     “Additional Restricted Payment Amount” means, as of any date of determination thereof,
the Aggregate Discretionary Basket minus that portion of the Aggregate Discretionary Basket
previously utilized to make Restricted Payments in excess of $30,000,000 in any fiscal year of SEI.

     “Adjusted Disposition Proceeds” means, with respect to any Asset Disposition by SEI or
any of its Subsidiaries, cash payments received by SEI or any Subsidiary therefrom, including (A)
any cash payments received pursuant to any note or other debt security received in connection with
any Asset Disposition by SEI or any of its Subsidiaries and (B) any tax refunds in connection with
any Asset Disposition by SEI or any of its Subsidiaries, whether received in cash or applied to tax
liabilities, in each case as and when received or applied, net of (i) all legal fees and expenses
and other fees and expenses paid to third parties and incurred in connection therewith (but
excluding any such fees and expenses paid to SEI or any of its Affiliates), (ii) all taxes required
to be paid or accrued as a consequence of such disposition, and (iii) all amounts
applied to repayment of Indebtedness (other than the Obligations) secured by a Lien on the
asset or property disposed.

     “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 10.02, or such other address or account as
the Administrative Agent may from time to time notify SEI and the Lenders.

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

4

 

     “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; provided that neither the Administrative Agent, the
Collateral Agent, the L/C Issuer nor any Lender shall be deemed to be an Affiliate of any Loan
Party by virtue of its execution of any Loan Document.

     “Aggregate Commitments” means the Commitments of all of the Lenders.

     “Aggregate Discretionary Basket” means, as of any date of measurement thereof, the
amount yielded by the following calculation for the period from November 1, 2010 to the last day of
the most recently ended fiscal quarter of SEI (the “Base Period”):

     (a) the sum of (i) $100,000,000 plus (ii) the Operating Cash Flow of SEI and
its Subsidiaries for the Base Period plus (iii) the portion of the Net Proceeds of any
issuance of Equity Interests in SEI made during the Base Period plus (iv) the first
$25,000,000 of cash proceeds received from each Asset Disposition made during any fiscal year of
SEI plus (v) the cash, cash equivalents and marketable securities on the consolidated
balance sheet of SEI and its Subsidiaries as of October 31, 2010, minus

     (b) the sum of (i) the Cash Portion of Capital Expenditures made, or deemed made
pursuant to the definition of Cash Portion below, during the Base Period, plus (ii) the
Cash Portion of all Investments made, or deemed made pursuant to the definition of Cash Portion
below, during the Base Period (but excluding Investments made by SEI or any SEI Guarantor in SEI or
any SEI Guarantor), plus (iii) the Cash Portion of the aggregate Cost of Acquisition of all
Acquisitions consummated during the Base Period (including the portion deemed to have been paid in
cash during the Base Period pursuant to the definition of Cash Portion below).

     For purposes of this definition of Aggregate Discretionary Basket:

     “Cash Portion” means (a) with respect to Capital Expenditures and Investments,
amounts actually paid in cash during the Base Period plus amounts with respect to
which SEI and/or its Subsidiaries are directly obligated to make payment in cash at any time
prior to the date that is six months after the Maturity Date, and (b) with respect to a
Cost of Acquisition, the Deemed Cost of Acquisition Amount for the Base Period.

     “Deemed Cost of Acquisition Amount” means, with respect to any Acquisition made
during the Base Period, the sum (without duplication) of: (a) that portion of the
Cost of Acquisition paid in cash for such Acquisition at the time of such Acquisition;
plus (b) amounts paid in cash during the Base Period in connection with contingent
obligations described in part (iii) of the definition of Cost of Acquisition, including
earnouts; plus (c) amounts paid in cash during the Base Period with respect to that
portion of the Cost of Acquisition of such Acquisition constituting a direct obligation of
SEI or one of its Subsidiaries, provided that to the extent any such direct
obligation described in this subpart (c) has a final maturity date prior to the date that is
six months after the Maturity Date, the amount to be counted in this subpart (c) for the
Base Period with respect thereto shall be the greater of (i) the actual amount paid in cash
with respect to such obligations during the Base Period, or (ii) the maximum aggregate
amount of

5

 

such direct obligation on the date of its incurrence divided by the number
of quarters until the date of its final maturity, all multiplied by the number of
fiscal quarters since the fiscal quarter of such Acquisition (including both the fiscal
quarter of the Acquisition and the fiscal quarter most recently ended), provided
further that in the event any obligation within this proviso is refinanced so that its
maturity is after the date that is six months after the Maturity Date, the Deemed Cost of
Acquisition Amount with respect to such portion of a Cost of Acquisition shall be
recalculated without giving effect to the immediately preceding proviso.

     “Agreement” means this Second Amended and Restated Credit Agreement.

          “Amendment and Restatement” has the meaning specified in the recitals to this
Agreement.

          “Applicable Percentage” means with respect to any Lender at any time, (i) in respect
of the Revolving Credit Facility, the percentage (carried out to the ninth decimal place) of the
Aggregate Commitments represented by such Lender’s Commitment at such time subject to adjustment as
provided in Section 2.19, and (ii) in respect of any Incremental Term Facility, with
respect to any Incremental Term Lender, the percentage (carried out to the ninth decimal place) of
the aggregate principal amount of all Incremental Term Loans held by such Incremental Term Lender
at such time. If the commitment of each Lender to make Loans and the obligation of the L/C Issuer
to make L/C Credit Extensions have been terminated pursuant to Section 8.02 or if the
Aggregate 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. 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 the following percentages per annum, based upon the
Consolidated Leverage Ratio as set forth in the most recent Compliance Certificate received by the
Administrative Agent pursuant to Section 6.01(a)(ii) or (b)(ii), as applicable:

Applicable Rate

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	Eurodollar	 	 
	 	 	 	 	 	 	 	 	 	 	Rate Loans	 	 
	Pricing	 	Consolidated	 	 	 	 	 	Letter of	 	Base Rate
	Level	 	Leverage Ratio	 	Commitment Fee	 	Credit Fee	 	Loans
	1	 	Less than 2.50 to 1.00	 	 	0.40	%	 	 	2.25	%	 	 	1.25	%
	2	 	Greater than or equal to 2.50 to 1.00 but less than 3.25 to 1.00	 	 	0.45	%	 	 	2.50	%	 	 	1.50	%
	3	 	Greater than or equal to 3.25 to 1.00	 	 	0.50	%	 	 	2.75	%	 	 	1.75	%

6

 

     Any increase or decrease in the Applicable Rate resulting from a change in the Consolidated
Leverage Ratio shall become effective as of the first Business Day immediately following the date a
Compliance Certificate is delivered pursuant to Section 6.01(a)(ii) or (b)(ii), as applicable; provided, however, that if a Compliance Certificate is not
delivered when due in accordance with such Sections then Pricing Level 3 shall apply as of the
first Business Day after the date on which such Compliance Certificate was required to have been
delivered and shall remain in effect until the date on which such Compliance Certificate is
delivered. The Applicable Rate in effect from the Effective Date through the first Business Day
immediately following the date of delivery, or the required date of delivery (whichever occurs
first), of the Compliance Certificate for the fiscal quarter of SEI ending closest to April 30,
2011 shall be determined based upon Pricing Level 2.

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

     “Arranger” means Merrill Lynch, Pierce, Fenner & Smith Incorporated, in its capacity
as sole lead arranger and joint book runner.

     “Asset Disposition” means any voluntary Disposition of (a) any of the assets,
excluding cash and cash equivalents, of any Person, or (b) any of the capital stock, or securities
or investments exchangeable, exercisable or convertible for or into, or otherwise entitling the
holder to receive any of the capital stock, of any Subsidiary of such Person.

     “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 assignee (with the consent of any party whose consent is required by Section
10.06(b)), and accepted by the Administrative Agent, in substantially the form of Exhibit
E 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.

     “Audited Financial Statements” means the audited consolidated balance sheet of SEI and
its Subsidiaries for the fiscal year ended October 31, 2010, and the related consolidated
statements of income or operations, shareholders’ equity and cash flows for such fiscal year of SEI
and its Subsidiaries, including the notes thereto.

     “Availability Period” means the period from and including the Effective Date to the
earliest of (a) the Maturity Date, (b) the date of termination of the Aggregate Commitments
pursuant to Section 2.06, and (c) the date of termination of the commitment of each Lender
to

7

 

make Loans, the commitment of the Swing Line Lender to make Swing Line Loans and of the
obligation of the L/C Issuer to make L/C Credit Extensions pursuant to Section 8.02.

     “Available Liquidity” means, at any date of measurement thereof, the sum of (without
duplication) (a) Unencumbered Domestic Liquid Assets, plus (b) provided that neither of
them has elected to terminate all their obligations as Borrowers under Section 2.17, cash,
Eligible Securities and readily marketable securities of the PR Borrowers held in the United States
or Puerto Rico, in each case not subject to any Lien or held in any trust (including any cemetery
perpetual care trust), plus (c) the amount by which the Aggregate Commitments (other than
any Commitment of any Defaulting Lender) in effect on such date exceeds the Total Outstandings.

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

     “Base Rate” means for any day a fluctuating rate per annum equal to the highest of
(a) the Federal Funds Rate plus 1/2 of 1%, (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” and (c) the
Eurodollar Rate plus 1%. 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 in such prime 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. For the purposes of clause (c) above, the Eurodollar Rate shall be determined daily
and any change shall take effect on the day 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.

     “Borrower Materials” has the meaning specified in Section 6.01.

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

     “Borrowing” means a Committed Borrowing, a Swing Line Borrowing or the advance of an
Incremental Term Loan, 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 that is also a London Banking Day.

     “Capital Expenditures” means, with respect to SEI and its Subsidiaries, for any period
the sum of (without duplication) (i) all expenditures (whether paid in cash or accrued as
liabilities) by SEI or any Subsidiary during such period for items that would be classified as
property, plant or equipment on the consolidated balance sheet of SEI and its Subsidiaries,
including without limitation all transactional costs incurred in connection with such expenditures
provided the same have been capitalized, excluding, however, the amount of any Capital Expenditures
paid for with proceeds of casualty insurance as evidenced in writing and submitted to the
Administrative Agent together with any Compliance Certificate delivered pursuant to Section

8

 

6.01(a)(ii), and (ii) with respect to any Capital Lease entered into by SEI or its Subsidiaries
during such period, the present value of the lease payments due under such Capital Lease over the
term of such Capital Lease applying a discount rate equal to the interest rate provided in such
lease (or in the absence of a stated interest rate, that rate used in the preparation of the
financial statements described in Section 6.01(a)), all the foregoing in accordance with
GAAP; provided that notwithstanding the foregoing, in no event shall this definition
include (A) any amount constituting a Cost of Acquisition or (B) with respect to any Capital Lease
entered into in connection with a sale and leaseback transaction permitted hereunder, the amount of
the present value of lease payments under any Capital Lease otherwise required to be included by
subpart (ii) above to the extent such present value is not in excess of the amount received by SEI
and its Subsidiaries for the transfer of the asset that is the subject of such sale and leaseback
transaction.

     “Capital Leases” means all leases which have been or should be capitalized in
accordance with GAAP, including but not limited to FASB ASC 840 and any successors thereof.

     “Cash Collateralize” means to pledge and deposit with or deliver to the Administrative
Agent, for the benefit of the Administrative Agent, L/C Issuer or Swing Line Lender (as applicable)
and the Lenders, as collateral for L/C Obligations, Obligations in respect of Swing Line Loans, or
obligations of Lenders to fund participations in respect of either thereof (as the context may
require), cash or deposit account balances or, if the L/C Issuer or Swing Line Lender benefitting
from such collateral shall agree in its sole discretion, other credit support, in
each case pursuant to documentation in form and substance satisfactory to (a) the
Administrative Agent and (b) the L/C Issuer or the Swing Line Lender (as applicable). “Cash
Collateral” shall have a meaning correlative to the foregoing and shall include the proceeds of
such cash collateral and other credit support.

     “Cash Management Agreement” means any agreement to provide cash management services,
including treasury, depository, overdraft, credit or debit card, electronic funds transfer and
other cash management arrangements.

     “Cash Management Bank” means any Person that, (a) at the time it enters into a Cash
Management Agreement, is a Lender or an Affiliate of a Lender, or (b) at the time it (or its
Affiliate) becomes a Lender, is a party to a Cash Management Agreement in each case in its capacity
as a party to such Cash Management Agreement.

     “Cash Portion” has the meaning specified in the definition of Aggregate Discretionary
Basket.

     “Cementerios” has the meaning given such term in the preamble hereto.

     “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,
implementation or application thereof by any Governmental Authority or (c) the making or issuance
of any request, rule, guideline or directive (whether or not having the force of law) by any
Governmental Authority; provided that notwithstanding anything herein to the contrary, (x)
the Dodd-Frank Wall Street Reform and Consumer Protection Act and all requests, rules, guidelines
or directives

9

 

thereunder or issued in connection therewith and (y) all requests, rules, guidelines
or directives promulgated by the Bank for International settlements, the Basel Committee on Banking
Supervision (or any successor or similar authority) or the United States regulatory authorities, in
each case pursuant to Basel III, shall in each case be deemed to be a “Change in Law”, regardless
of the date enacted, adopted or issued.

     “Change of Control” means, at any time:

     (i) any “person” or “group” (each as used in Sections 13(d)(3) and 14(d)(2) of the
Securities Exchange Act of 1934, as amended) other than Frank B. Stewart, Jr. and the
Stewart Parties either (A) becomes the “beneficial owner” (as defined in Rule 13d-3 of the
Securities Exchange Act of 1934, as amended), directly or indirectly, of Voting Securities
of SEI (or securities convertible into or exchangeable for such Voting Securities)
representing 30% or more of the combined voting power of all Voting Securities of SEI (on a
fully diluted basis) or (B) otherwise has the ability, directly or indirectly, to elect a
majority of the board of directors of SEI;

     (ii) the first day on which a majority of the board of directors of SEI are not
Continuing Directors; or

     (iii) the acquisition of direct or indirect Control of SEI by any “person” or “group”
(each as used in Sections 13(d)(3) and 14(d)(2) of the Securities Exchange Act of 1934, as
amended).

     “Code” means the Internal Revenue Code of 1986.

     “Collateral” means, collectively, all property of SEI, any Subsidiary or any other
Person in which the Collateral Agent, the Administrative Agent or any Lender is granted a Lien
under any Security Instrument as security for all or any portion of the Obligations or any other
obligation arising under any Loan Document.

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

     “Commitment” means, as to each Lender, its obligation to (i) make Committed Loans to
the Borrowers pursuant to Section 2.01 or any Incremental Facility Amendment, (ii) purchase
participations in L/C Obligations, (iii) purchase participations in Swing Line 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 or any Incremental
Facility Amendment, respectively, pursuant to which such Lender becomes a party hereto, as
applicable, as such amount may be adjusted from time to time in accordance with this Agreement, and
for the avoidance of doubt shall include any Incremental Revolving Commitment of such Lender.

     “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.

10

 

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

     “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 Adjusted Leverage Ratio” means, as of the date of computation thereof
with respect to SEI and its Subsidiaries, the ratio of (i) (x) Consolidated Funded Indebtedness
(determined as of such date) minus (y) the lesser of (1) $30,000,000 and (2) the value of
Eligible Securities and readily marketable securities of SEI, the SEI Guarantors and the PR
Borrowers (provided that neither of them has elected to terminate all their obligations as
Borrowers under Section 2.17) (determined as at such date) to (ii) Consolidated EBITDA (for
the Four-Quarter Period ending on (or most recently ended prior to) such date).

     “Consolidated Amendment and Reaffirmation Agreement” means the Consolidated Amendment
to Guaranty and Security Instruments and Reaffirmation Agreement dated as of the Effective Date
among the Borrowers, the Guarantors and the Administrative Agent, substantially in the form of
Exhibit H.

     “Consolidated EBITDA” means, for any period ending on the date of computation thereof
with respect to SEI and its Subsidiaries on a consolidated basis, the sum of, without duplication,
the following, all determined on a consolidated basis in accordance with GAAP, subject to the
Accounting Adjustments: (i) Consolidated Net Income; (ii) Consolidated Interest Expense; (iii)
taxes on income (including reserves for deferred taxes not payable currently); (iv) depreciation
expense and amortization expense (including, but not limited to, amortization of intangibles); (v)
tender premiums, call premiums, and fees and expenses incurred in connection with a tender or call
of the Senior 2005 (6.250%) Notes or the Senior Indenture Notes; (vi) the non-cash component of any
impairment or unusual item of loss or expense (or minus the non-cash component of any unusual item
of gain or income); (vii) non-cash charges for the early extinguishment of debt; (viii) non-cash
compensation charges related to or arising from the vesting of any employee, officer or director of
SEI or its Subsidiaries in Equity Interests issued by SEI; and (ix) non-cash trust funding charges
or expenses resulting from realized net capital losses from cemetery perpetual care trusts; in each
case, to the extent deducted (or added, as the case may be) in determining Consolidated Net Income
for such period; provided that to the extent any non-cash charge or expense is added back
in determining Consolidated EBITDA in any Four-Quarter Period pursuant to clause (vi), (vii),
(viii) or (ix) but requires an accrual or reserve for future cash disbursements, the future cash
disbursements shall be deducted in determining Consolidated EBITDA in the periods in which they are
made and the subsequent three fiscal quarters thereafter.

     “Consolidated Funded Indebtedness” means, as of any date of determination with respect
to SEI and its Subsidiaries on a consolidated basis, without duplication, the stated face amount of
all Letters of Credit issued hereunder, all outstanding indebtedness in respect of money borrowed,
including without limitation all obligations under Capital Leases, all Synthetic Lease

11

 

Obligations, the deferred purchase price of any property or services, and (without duplication) all payment and
reimbursement obligations with respect to all drawn surety bonds, all bankers’ acceptances which
have been presented for payment, and (in the case of letters of credit other than Letters of Credit
issued hereunder) all such drawn letters of credit, and all obligations, whether or not matured,
evidenced by a promissory note, bond, debenture or similar written obligation for the payment of
money (including reimbursement agreements and conditional sales or similar title retention
agreements), including all such items incurred by any partnership or joint venture as to which SEI
or any of its Subsidiaries is liable as a general partner or joint venturer, other than trade
payables and accrued expenses incurred in the ordinary course of business. For purposes of
determining “Consolidated Funded Indebtedness”, the amount of any convertible debt instruments that
may be settled in cash upon conversion shall be the principal or notional amount thereof,
notwithstanding FASB ASC 470-20 and FASB ASC 825.

     “Consolidated Interest Coverage Ratio” means, with respect to SEI and its Subsidiaries
for any Four-Quarter Period ending on the date of computation thereof, the ratio of (i)
Consolidated EBITDA for such period plus Consolidated Lease Payments for such period, to
(ii) Consolidated Interest Expense paid in cash for such period exclusive of, to the extent
otherwise included therein, transaction costs and expenses attributable to (x) the incurrence of
Indebtedness under the Senior 2011 (6.50%) Notes due 2019, (y) the call of, or tender for, the
Senior (6.250%) Notes due 2013 on or prior to the Effective Date and (z) the Amendment and
Restatement of the Existing Agreement, in each case, solely to the extent such transaction costs
and expenses constitute cash interest expense during the applicable Four-Quarter Period
plus Consolidated Lease Payments for such period.

     “Consolidated Interest Expense” means, for any period ending on the date of
computation thereof with respect to SEI and its Subsidiaries on a consolidated basis, the gross
interest expense of SEI and its Subsidiaries on a consolidated basis, including without limitation
(i) the current amortized portion of debt discounts to the extent included in gross interest
expense, (ii) the current amortized portion of all fees (including fees payable in respect of any
Swap Contracts) payable in connection with the incurrence of Indebtedness to the extent included in
gross interest expense and (iii) the portion of any payments made in connection with Capital Leases
allocable to interest expense, all determined on a consolidated basis in accordance with GAAP,
subject to Accounting Adjustments; provided that Consolidated Interest Expense shall
include the amount of payments in respect of Synthetic Lease Obligations that are in the nature of
interest and shall not include interest expense related to non-controlling interests in funeral,
cemetery and perpetual care trust investments recorded in SEI’s financial statements in accordance
with FASB ASC 810, as revised.

     “Consolidated Lease Payments” means the gross amount of all lease or rental payments,
whether or not characterized as rent, of SEI and its Subsidiaries, excluding payments in respect of
Capital Leases constituting Indebtedness or in respect of Synthetic Lease Obligations, all
determined on a consolidated basis in accordance with GAAP, subject to Accounting Adjustments.

     “Consolidated Leverage Ratio” means, as of the date of computation thereof with
respect to SEI and its Subsidiaries, the ratio of (i) (x) Consolidated Funded Indebtedness
(determined as of such date) minus (y) the value of Eligible Securities and readily
marketable securities of SEI,

12

 

the SEI Guarantors and the PR Borrowers (provided that neither of
them has elected to terminate all their obligations as Borrowers under Section 2.17)
(determined as at such date) to (ii) Consolidated EBITDA (for the Four-Quarter Period ending on (or
most recently ended prior to) such date).

     “Consolidated Net Income” means, for any period ending on the date of computation
thereof with respect to SEI and its Subsidiaries on a consolidated basis, net income of SEI and its
Subsidiaries determined on a consolidated basis in accordance with GAAP.

     “Consolidated Senior Secured Indebtedness” means, as of any date of determination, all
Consolidated Funded Indebtedness that, as of such date, is secured by any Lien on any asset or
property of SEI or any of its Subsidiaries.

     “Consolidated Senior Secured Leverage Ratio” means, as of the date of computation
thereof with respect to SEI and its Subsidiaries, the ratio of (i) Consolidated Senior Secured
Indebtedness (determined as at such date) to (ii) Consolidated EBITDA (for the Four-Quarter Period
ending on (or most recently ended prior to) such date).

     “Continuing Director” means, individually or collectively as the context may indicate,
as of any date of determination, any member of the board of directors of SEI who:

     (i) was a member of the board of directors of SEI on the Effective Date; or

     (ii) was nominated for election or elected to the board of directors of SEI with the
approval of a majority of the Continuing Directors who were members of the board of
directors of SEI at the time of such nomination or election.

     “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.

     “Cost of Acquisition” means, with respect to any Acquisition, as of the date of
entering into any agreement therefor, the sum of the following (without duplication): (i) the
amount of any cash and fair market value of other property (excluding the value of any capital
stock, warrants or options to acquire capital stock of SEI or any Subsidiary to be transferred in
connection therewith) given as consideration, (ii) the amount (determined by using the face amount
or the amount payable at maturity, whichever is greater) of any Indebtedness incurred, assumed or
acquired by SEI or any Subsidiary in connection with such Acquisition, (iii) all additional
purchase price amounts in the form of earnouts and other contingent obligations that should be
recorded on the financial statements of SEI and its Subsidiaries in accordance with GAAP, (iv) all
amounts paid in respect of covenants not to compete, consulting agreements that should be recorded
on financial statements of SEI and its Subsidiaries in accordance with GAAP, and other affiliated
contracts in connection with such Acquisition, (v) the aggregate fair market value of all other
consideration given by SEI or any Subsidiary in connection with such Acquisition, and (vi) out of
pocket transaction costs for the services and expenses of attorneys, accountants and other
consultants incurred as of the date of determination in effecting such transaction, and other
similar transaction costs so incurred.

13

 

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

     “De Minimis Disposition” means a Disposition of a Subsidiary (whether by Disposition
of Equity Interests or of all or substantially all of the assets of such Subsidiary) that owns only
property with an aggregate fair market value of less than $1,500,000.

     “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.

     “Deemed Cost of Acquisition Amount” has the meaning specified in the definition of
Aggregate Discretionary Basket.

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

     “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
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; provided that in each case the Default Rate shall be
computed using the Applicable Rate at Pricing Level 3 as set forth in the definition of Applicable
Rate.

     “Defaulting Lender” means, subject to Section 2.19(b), any Lender that, as
determined by the Administrative Agent, (a) has failed to perform any of its funding obligations
hereunder, including in respect of its Loans or its participations in respect of Letters of Credit
or Swing Line Loans, within three Business Days of the date required to be funded by it hereunder,
(b) has notified SEI, the Administrative Agent or any Lender that it does not intend to comply with
its funding obligations or has made a public statement to that effect with respect to its funding
obligations hereunder or under other agreements in which it commits to extend credit, (c) has
failed, within three Business Days after request by the Administrative Agent, to confirm in a
manner satisfactory to the Administrative Agent that it will comply with its funding obligations,
or (d) has, or has a direct or indirect parent company that has, (i) become the subject of a
proceeding under any Debtor Relief Law, (ii) had a receiver, conservator, trustee, administrator,
assignee for the benefit of creditors or similar Person charged with reorganization or liquidation
of its business or a custodian appointed for it, or (iii) taken any action in furtherance of, or
indicated its consent to, approval of or acquiescence in any such proceeding or appointment;
provided that a Lender shall not be a Defaulting Lender solely by virtue of the ownership or
acquisition of any equity interest in that Lender or any direct or indirect parent company thereof
by a Governmental Authority.

14

 

     “Direct Foreign Subsidiary” means each Subsidiary, other than a Domestic Subsidiary or
an Excluded Subsidiary, a majority of whose Voting Securities are owned by SEI or a Domestic
Subsidiary; provided that notwithstanding the foregoing, the Excluded PR Subsidiaries shall
not constitute Direct Foreign Subsidiaries for the purposes of Section 6.19.

     “Disposition” or “Dispose” means the sale, transfer, license, lease or other
disposition (including any sale and leaseback transaction) of any property by any Person, including
any sale, assignment, transfer or other disposal, with or without recourse, of any notes or
accounts receivable or any rights and claims associated therewith.

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

     “Domestic Subsidiary” means any Subsidiary of SEI organized under the laws of the
United States, any state or territory thereof (other than Puerto Rico) or the District of Columbia,
except the Excluded Subsidiaries.

     “Effective Date” means the first date all of the conditions precedent in Section
4.01 are satisfied or waived in accordance with Section 10.01.

     “Eligible Assignee” means any Person that meets the requirements to be an assignee
under Section 10.06(b)(iii) and (v) (subject to such consents, if any, as may be
required under Section 10.06(b)(iii)).

     “Eligible Securities” means the following obligations and any other obligations
previously approved in writing by the Administrative Agent:

     (a) Government Securities;

     (b) obligations of any corporation organized under the laws of any state of the United
States payable in the United States, expressed to mature not later than 180 days following
the date of issuance thereof and rated A or A-2 or better by S&P or Moody’s;

     (c) non-interest bearing demand deposits and interest bearing demand or time deposits
or certificates of deposit maturing within one year from the date of issuance, in each case
either issued by a Lender or by a commercial bank or trust company organized under the laws
of the United States or of any state thereof having capital surplus and undivided profits
aggregating at least $500,000,000 and being rated “A” or better by S&P or “A” or better by
Moody’s;

     (d) non-interest bearing demand deposits and interest bearing demand or time deposits
or certificates of deposit maturing within one year from the date of issuance, in each case
either issued by a Lender or by a commercial bank or trust company organized under the laws
of the United States or of any state thereof, and in an aggregate amount of no more than
$10,000,000 at any time; and

     (e) investments in the Certificate of Deposit Account Registry Service (“CDARS”)
maturing within one year of the date of issuance.

15

 

     For purposes of clarification, the terms “Eligible Securities” and “readily marketable
securities” as used herein shall in no event include any Travelers Securities Account (as defined
in the Consolidated Amendment and Reaffirmation Agreement).

     “Environmental Laws” means any Federal, state or local statute, law, ordinance, code,
rule, regulation, order, decree, permit or license regulating, relating to, or imposing liability
or standards of conduct concerning, any environmental matters or conditions, environmental
protection or conservation, including without limitation, the Comprehensive Environmental Response,
Compensation and Liability Act of 1980, as amended; the Superfund Amendments and Reauthorization
Act of 1986, as amended; the Resource Conservation and Recovery Act, as amended; the Toxic
Substances Control Act, as amended; the Clean Air Act, as amended; the Clean Water Act, as amended;
together with all regulations promulgated thereunder, and any other “Superfund” or “Superlien” law.

     “Environmental Liability” means any liability, contingent or otherwise (including any
liability for damages, costs of environmental remediation, fines, penalties or indemnities), of any
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 Interests” means, with respect to any Person, all of the shares of capital
stock of (or other ownership or profit interests in) such Person, all of the warrants, options or
other rights for the purchase or acquisition from such Person of shares of capital stock of (or
other ownership or profit interests in) such Person, all of the securities convertible into or
exchangeable for shares of capital stock of (or other ownership or profit interests in) such Person
or warrants, rights or options for the purchase or acquisition from such Person of such shares (or
such other interests), and all of the other ownership or profit interests in such Person (including
partnership, member or trust interests therein), whether voting or nonvoting, and whether or not
such shares, warrants, options, rights or other interests are outstanding on any date of
determination.

     “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 any 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 (a) a Reportable Event with respect to a Pension Plan; (b) the
withdrawal of any Borrower or any ERISA Affiliate from a Pension Plan subject to Section 4063 of
ERISA during a plan year in which such entity 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 any Borrower or any 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

16

 

amendment as a termination under Section 4041 or 4041A of ERISA; (e) the institution by the PBGC of proceedings to terminate a
Pension Plan; (f) any 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; (g) the
determination that any Pension Plan is considered an at-risk plan or a plan in endangered or
critical status within the meaning of Sections 430, 431 and 432 of the Code or Sections 303, 304
and 305 of ERISA; (h) 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 any Borrower or any ERISA
Affiliate or (i) any event or condition with respect to any Foreign Government Scheme or
Arrangement or any Foreign Plan which is regulated by any Foreign Benefit Law that results in the
termination of such Foreign Government Scheme or Arrangement or any Foreign Plan or the revocation
of such Foreign Government Scheme or Arrangement’s or Foreign Plan’s authority to operate under the
applicable Foreign Benefit Law.

     “Eurodollar Rate” means,

     (a) for any Interest Period with respect to a Eurodollar Rate Loan, the rate per annum
equal to (i) the British Bankers Association LIBOR Rate (“BBA LIBOR”), as published
by Reuters (or such other commercially available source providing quotations of BBA LIBOR as
may be designated by the Administrative Agent from time to time) at approximately 11:00
a.m., London time, two London Banking 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 or (ii) if such rate is not available at such time
for any reason, 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 and with a term equivalent to such Interest Period would be 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 London Banking Days prior to the
commencement of such Interest Period; and

     (b) for any interest calculation with respect to a Base Rate Loan on any date, the rate
per annum equal to (i) BBA LIBOR, at approximately 11:00 a.m., London time determined two
London Banking Days prior to such date for Dollar deposits being delivered in the London
interbank market for a term of one month commencing that day or (ii) if such published rate
is not available at such time for any reason, the rate per annum determined by the
Administrative Agent to be the rate at which deposits in Dollars for delivery on the date of determination in same day funds in the approximate amount
of the Base Rate Loan being made or maintained and with a term equal to one month would be
offered by Bank of America’s London Branch to major banks in the London interbank eurodollar
market at their request at the date and time of determination.

     “Eurodollar Rate Loan” means a Loan that bears interest at a rate based on clause
(a) of the definition of “Eurodollar Rate.”

     “Event of Default” has the meaning specified in Section 8.01.

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     “Excluded PR Subsidiaries” means each of the PR Borrowers and Simplicity Plan of
Puerto Rico, a Puerto Rican civil partnership.

     “Excluded Subsidiaries” means each of the following Subsidiaries of SEI: (a)
Investors Trust, Inc., a Texas corporation, (b) West Lawn Cemetery, a Nebraska corporation, (c) so
long as it is inactive and remains administratively dissolved, Fine Finishes, Inc., a North
Carolina corporation, (d) so long as it is inactive and remains administratively dissolved, Taylor
M. Simpson Co., a North Carolina corporation, (e) so long as it is not a Wholly-Owned Subsidiary,
Heaven’s Pets at Lakelawn Metairie, LLC, a Louisiana limited liability company, (f) so long as it
is not a Wholly-Owned Subsidiary, Lake Lawn Park, LLC., a Louisiana limited liability company, (g)
so long as it is not a Wholly-Owned Subsidiary, Rest Hills Memorial Park, Inc., an Arkansas
corporation, and (h) each Immaterial Domestic Subsidiary formed or acquired after the Effective
Date (in each case as permitted by this Agreement) for so long as such Subsidiary qualifies as an
“Immaterial Domestic Subsidiary”.

     “Excluded Taxes” means, with respect to the Administrative Agent, the Collateral
Agent, any Lender, the L/C Issuer or any other recipient of any payment to be made by or on account
of any obligation of any 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 any Borrower is located, (c) any backup
withholding tax that is required by the Code to be withheld from amounts payable to a Lender that
has failed to comply with clause (A) of Section 3.01(e)(ii), and (d) in the case of a
Foreign Lender (other than an assignee pursuant to a request by SEI under Section 10.13),
any United States withholding tax that (i) is required to be imposed on amounts payable to such
Foreign Lender pursuant to the Laws in force at the time such Foreign Lender becomes a party hereto
(or designates a new Lending Office) or (ii) is attributable to such Foreign Lender’s failure or
inability (other than as a result of a Change in Law) to comply with clause (B) of
Section 3.01(e)(ii), 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 a Borrower with respect to such withholding tax pursuant to Section
3.01(a)(i) or (ii).

     “Executive Officer” means, with respect to SEI, any of its Chief Executive Officer,
President, Chief Financial Officer or Treasurer.

     “Existing Agreement” has the meaning specified in the recitals to this Agreement.

     “Existing Letters of Credit” means the Letters of Credit listed on Schedule
1.02(a).

     “Facility Termination Date” means such date as all of the following shall have
occurred: (a) the Aggregate Commitments have terminated, (b) all Obligations have been fully,
finally and irrevocably paid and satisfied (other than (x) contingent indemnification obligations
and (y) obligations and liabilities under Secured Cash Management Agreements and Secured Hedge
Agreements as to which arrangements satisfactory to the applicable Cash Management Bank or

18

 

Hedge Bank have been made), and (c) all Letters of Credit have terminated or expired (other than Letters
of Credit as to which other arrangements with respect thereto satisfactory to the Administrative
Agent and the L/C Issuer shall have been made).

     “FASB ASC” means the Accounting Standards Codification of the Financial Accounting
Standards Board.

     “Federal Funds Rate” means, for any day, the rate per annum 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 (rounded upward, if necessary, to a whole multiple of 1/100 of 1%)
charged to Bank of America on such day on such transactions as determined by the Administrative
Agent.

     “Fee Letter” means the letter agreement, dated March 7, 2011, among SEI, the
Administrative Agent and the Arranger.

     “First Amended and Restated Credit Agreement” has the meaning specified in the
recitals to this Agreement.

     “Florida Bond Obligation” means, at any date of measurement thereof, the sum, without
duplication, of (a) the amount required to be bonded by SEI or any of its Subsidiaries and (b) the
amount of other credit support required to be provided by SEI or any its Subsidiaries, in each case
in connection with certain trust conversions by SEI or its Subsidiaries in the State of Florida.

     “Foreign Benefit Law” means any applicable statute, law, ordinance, code, rule,
regulation, order or decree of any foreign nation or any province, state, territory, protectorate
or other political subdivision thereof regulating, relating to, or imposing liability or
standards of conduct concerning, any Foreign Government Scheme or Arrangement or Foreign Plan.

     “Foreign Cash Equivalents” means the following obligations and any other obligations
previously approved in writing by the Administrative Agent:

     (a) the official currency of Australia, Belgium, Canada, France, Germany, Mexico, the
Netherlands, New Zealand, Spain and the United Kingdom;

     (b) securities issued or directly and fully guaranteed or insured by the government of
any of Australia, Belgium, Canada (including any province thereof), France, Germany, Mexico,
the Netherlands, New Zealand, Spain or the United Kingdom or any agency or instrumentality
of any of the foregoing (provided that the full faith and credit of the relevant
jurisdiction is pledged in support thereof), and in each case having maturities of not more
than six months from the date of acquisition;

19

 

     (c) certificates of deposit, time deposits and money market deposits with maturities of
six months or less from the date of acquisition, bankers’ acceptances with maturities not
exceeding six months and overnight bank deposits, in each case with any commercial bank or
trust company organized in a country listed in clause (a) above and having capital and
surplus in excess of $500,000,000 (or its foreign currency equivalent);

     (d) repurchase obligations with a term of not more than seven days for underlying
securities of the types described in clauses (b) and (c) above entered into with any
financial institution meeting the qualifications specified in clause (c) above;

     (e) money market funds at least 95% of the assets of which constitute Foreign Cash
Equivalents of the kinds described in clauses (a) through (d) of this definition; and

     (f) any other security owned on the Effective Date by any Subsidiary of SEI that is not
a Domestic Subsidiary.

     “Foreign Lender” means any Lender that is organized under the Laws of a jurisdiction
other than that in which SEI is resident for tax purposes (including such Lender when acting in its
capacity as L/C Issuer). 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 Government Scheme or Arrangement” has the meaning specified in Section
5.16(d).

     “Foreign Plan” has the meaning specified in Section 5.16(d).

     “Four-Quarter Period” means a period of four full consecutive fiscal quarters of SEI
and its Subsidiaries, taken together as one accounting period.

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

     “Fronting Exposure” means, at any time there is a Defaulting Lender (a) with respect
to the L/C Issuer, such Defaulting Lender’s Applicable Percentage of the outstanding L/C
Obligations other than L/C Obligations as to which such Defaulting Lender’s participation
obligation has been reallocated to other Lenders or Cash Collateralized in accordance with the
terms hereof, and (b) with respect to the Swing Line Lender, such Defaulting Lender’s Applicable
Percentage of Swing Line Loans other than Swing Line Loans as to which such Defaulting Lender’s
participation obligation has been reallocated to other Lenders or Cash Collateralized in accordance
with the terms hereof.

     “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 activities.

     “Funerarias” has the meaning given such term in the preamble hereto.

20

 

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

     “Government Securities” means direct obligations of, or obligations the timely payment
of principal and interest on which are fully and unconditionally guaranteed by, the United States
or any agency or instrumentality thereof so long as such obligations are rated A or A-2 or better
by S&P and Moody’s, respectively.

     “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).

     “Granting Lender” has the meaning specified in Section 10.06(h).

     “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 cash
flow of the primary obligor so as to enable the primary obligor to pay such Indebtedness or other
obligation, or (iv) entered into for the purpose of assuring in any other manner the obligee in
respect of such Indebtedness or other obligation of the payment or performance thereof or to
protect such obligee against loss in respect thereof (in whole or in part), or (b) any Lien on any
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 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. The term “Guarantee” shall not include endorsements for collection or
deposit in the ordinary course of business.

     “Guarantors” means, at any date, collectively or individually as the context may
indicate, the SEI Guarantors, the PR Guarantors, and any other Subsidiary of SEI that is required
to be party to the Guaranty at such date (including by execution of a Guaranty Joinder Agreement).

21

 

     “Guaranty” means that certain Amended and Restated Guaranty Agreement dated as of June
2, 2009 among the Guarantors party thereto and the Administrative Agent, as amended, supplemented
or otherwise modified prior to the date hereof and as otherwise supplemented from time to time by
the execution and delivery of any Guaranty Joinder Agreement pursuant to Section 6.19.

     “Guaranty Joinder Agreement” means each Guaranty Joinder Agreement, substantially in
the form thereof attached to the Guaranty, executed and delivered by a Guarantor to the Lenders
pursuant to Section 6.19.

     “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.

     “Hedge Bank” means any Person that, at the time it enters into a Swap Contract
permitted under Article VII, is a Lender or an Affiliate of a Lender, in its capacity as a
party to such Swap Contract.

     “Immaterial Domestic Subsidiary” means any Subsidiary of SEI organized after the
Effective Date under the laws of the United States, any state or territory thereof (other than
Puerto Rico) or the District of Columbia which (i) is not a Wholly-Owned Subsidiary, (ii) has
total assets (including Equity Interests in other Subsidiaries) less than 5.0% of consolidated
total assets of SEI and its Subsidiaries (calculated as of the end of the most recent fiscal period
for which financial statements are available), and has revenues less than 5.0% of the consolidated
total revenues of SEI and its Subsidiaries (calculated for the most recent Four Quarter Period for
which financial statements are available), provided that, in no event shall Immaterial
Domestic Subsidiaries have aggregate assets equal to more than 10.0% of consolidated total assets
of SEI and its Subsidiaries (calculated as of the end of the most recent fiscal period for which
financial statements are available) or aggregate revenues of more than 10.0% of the consolidated
total revenues of SEI and its Subsidiaries (calculated for the most recent Four Quarter Period for
which financial statements are available) and (iii) does not guarantee any Senior Indenture Notes.
For purposes of such determination, so long as each of Heaven’s Pets at Lakelawn Metairie, LLC, a
Louisiana limited liability company, Lake Lawn Park, LLC., a Louisiana limited liability company
and Rest Hills Memorial Park, Inc., an Arkansas corporation, qualify as an “Excluded Subsidiary”
under clauses (e), (f) and (g) of the definition thereof, respectively, no such Person shall be
considered an “Immaterial Domestic Subsidiary”. SEI may from time to time declassify one or more
of its Subsidiaries as an “Immaterial Domestic Subsidiary” to the extent necessary to comply with
the foregoing requirements.

     “Incremental Facility Amendment” has the meaning set forth in Section 2.14.

     “Incremental Revolving Commitment” has the meaning set forth in Section 2.14.

     “Incremental Term Facility” has the meaning set forth in Section 2.14.

22

 

     “Incremental Term Lender” means a Lender with an outstanding Incremental Term Loan.

     “Incremental Term Loan” means a Loan made pursuant to an Incremental Term Facility.

     “Indebtedness” means, as to any Person at a particular time, without duplication, all
of the following, whether or not included as indebtedness or liabilities in accordance with GAAP:

     (a) all obligations of such Person for borrowed money and all obligations of such
Person evidenced by bonds, debentures, notes, loan agreements or other similar instruments;

     (b) all direct or contingent obligations of such Person arising under letters of credit
(including standby and commercial), bankers’ acceptances, bank guaranties, surety bonds and
similar instruments;

     (c) net obligations of such Person under any Swap Contract;

     (d) all obligations of such Person to pay the deferred purchase price of property or
services (other than trade accounts payable in the ordinary course of business);

     (e) indebtedness (excluding prepaid interest thereon) secured by a Lien on property
owned or being purchased by such Person (including indebtedness arising under conditional
sales or other title retention agreements), whether or not such indebtedness shall have been
assumed by such Person or is limited in recourse;

     (f) Capital Leases and Synthetic Lease Obligations;

     (g) all obligations of such Person in respect of any Equity Interest in such Person or
any other Person, which by its terms or upon the happening of any event, matures or is
mandatorily redeemable, pursuant to a sinking fund obligation or otherwise, or is redeemable
at the option of the holder thereof, in whole or in part, in each case except such
obligations that are payable (whether on the happening of any event or otherwise) not
earlier than the date that is six months after the Maturity Date (other than customary and
usual put rights or repurchase or redemption obligations arising as a result of a change in
control (so long as such change in control provision is not more restrictive than the Change
of Control provided herein)), valued, in the case of a redeemable preferred interest, at the
greater of its voluntary or involuntary liquidation preference plus accrued and
unpaid dividends;

     (h) all Non-Compete Liabilities; and

     (i) all Guarantees of such Person in respect of any of the foregoing.

     For all purposes hereof, the Indebtedness of any Person shall include the Indebtedness of any
partnership or joint venture (other than a joint venture that is itself a corporation or limited
liability company) in which such Person is a general partner or a joint venturer, unless such
Indebtedness is expressly made non-recourse to such Person. The amount of any net obligation

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under any Swap Contract on any date shall be deemed to be the Swap Termination Value thereof as of such
date. The amount of any Capital Lease or Synthetic Lease Obligation as of any date shall be deemed
to be the amount of Attributable Indebtedness in respect thereof as of such date.

     “Indemnified Taxes” means Taxes other than Excluded Taxes.

     “Indemnitees” means the Administrative Agent (and any sub-agent thereof), the
Collateral Agent (and any sub-agent thereof), each Lender and the L/C Issuer, and each Related
Party of any of the foregoing Persons.

     “Information” has the meaning specified in Section 10.07.

     “Intellectual Property Security Agreement” means, collectively or individually as the
context may indicate, (i) that certain Amended and Restated Intellectual Property Security
Agreement dated as of June 2, 2009 by SEI and the SEI Guarantors party thereto to the Collateral
Agent, as amended, supplemented or otherwise modified prior to the date hereof and as otherwise
supplemented from time to time by the execution and delivery of Intellectual Property Security
Joinder Agreements pursuant to Section 6.19, (ii) the Assignment of Patents,
Trademarks and Copyrights dated as of the Original Closing Date by SEI and the SEI Guarantors
party thereto to the Collateral Agent, as amended, supplemented or otherwise modified prior to the
date hereof, (iii) any additional Assignment of Patents, Trademarks and Copyrights delivered to the
Collateral Agent before or after the Effective Date pursuant to Section 6.19 or otherwise.

     “Intellectual Property Security Agreement Supplement” means, with respect to each
Intellectual Property Security Agreement, the Intellectual Property Security Agreement Supplement
in the form affixed as an Exhibit to such Intellectual Property Security Agreement.

     “Intellectual Property Security Joinder Agreement” means each Security Joinder
Agreement, substantially in the form thereof attached to the Intellectual Property Security
Agreement, executed and delivered by an SEI Guarantor or any other Person to the Administrative
Agent pursuant to Section 6.19.

     “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, 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 Swing Line Loan), the
last Business Day of each fiscal quarter of SEI, 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 SEI in its
Committed Loan Notice or such other period that is twelve months or less requested by the Borrowers
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

24

 

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” means, as to any Person, any direct or indirect acquisition or investment
by such Person, whether by means of (a) the purchase or other acquisition of capital stock or other
securities of another Person, (b) a loan, advance or capital contribution to, Guarantee or
assumption of debt of, or purchase or other acquisition of any other debt or equity participation
or interest in, another Person, including any partnership or joint venture interest in such other
Person and any arrangement pursuant to which the investor Guarantees Indebtedness of such
other Person, or (c) the purchase or other acquisition (in one transaction or a series of
transactions) of assets of another Person that constitute a business unit. For purposes of
covenant compliance, the amount of any Investment shall be the amount actually invested, without
adjustment for subsequent increases or decreases in the value of such Investment.

     “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, Inc. (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 L/C Issuer and
any Borrower (or any Subsidiary) or in favor of the L/C Issuer and relating to any such Letter of
Credit.

     “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.

     “LC Account Agreement” means the LC Account Agreement dated as of the Original Closing
Date between SEI and the Administrative Agent.

     “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.

25

 

     “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 made or refinanced as a Committed
Borrowing.

     “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 Bank of America in its capacity as issuer of Letters of Credit
hereunder, or any successor issuer of Letters of Credit hereunder.

     “L/C Obligations” means, as at any date of determination and without duplication, 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 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 1.08. 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.

     “Lender” has the meaning specified in the introductory paragraph hereto and, as the
context requires, includes the Swing Line 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 SEI 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 L/C Issuer.

     “Letter of Credit Expiration Date” means the day that is seven 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 Fee” has the meaning specified in Section 2.03(h).

     “Letter of Credit Sublimit” means an amount equal to the lesser of (a) $30,000,000 and
(b) the Aggregate Commitments. The Letter of Credit Sublimit is part of, and not in addition to,
the Aggregate Commitments.

     “Lien” means any mortgage, pledge, hypothecation, assignment, encumbrance, lien
(statutory or other), charge, or preference, priority or other security interest or preferential
arrangement in the nature of (including deposit arrangements structured to provide) 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).

26

 

     “Loan” means an extension of credit by a Lender to a Borrower under Article II
in the form of a Committed Loan or a Swing Line Loan (including in each case, pursuant to an
Incremental Revolving Commitment) or pursuant to an Incremental Term Facility.

     “Loan Documents” means this Agreement, each Note, each Issuer Document, the Fee
Letter, any Incremental Facility Amendment, the Guaranty (including each Guaranty Joinder
Agreement), the LC Account Agreement and each Security Instrument, and all other instruments and
documents heretofore or hereafter executed or delivered to or in favor of any Lender (including the
L/C Issuer) or the Administrative Agent or the Collateral Agent in connection with the Loans made
and transactions contemplated under this Agreement.

     “Loan Parties” means, collectively, each Borrower, each Guarantor and each other
Person providing Collateral pursuant to any Security Instrument.

     “London Banking Day” means any day on which dealings in Dollar deposits are conducted
by and between banks in the London interbank eurodollar market.

     “Material Adverse Effect” means a material adverse effect on (i) the business, assets,
liabilities (actual or contingent), properties, operations, prospects or condition, financial or
otherwise, of SEI and its Subsidiaries, taken as a whole, or in the facts and information regarding
such entities as represented to date, (ii) the ability of either SEI or the Loan Parties, taken as
a whole, to pay or perform the obligations, liabilities and indebtedness under the Loan Documents
as such payment or performance becomes due in accordance with the terms thereof, or (iii) the
rights, powers and remedies of the Administrative Agent, the Collateral Agent or any Lender under
any Loan Document or the validity, legality or enforceability thereof.

     “Maturity Date” means April 20, 2016; provided that, (a) with respect to the
Senior 2007 Convertible (3.125%) Notes due 2014, if, on any day during the six (6) month period
prior to the Senior 2007 Convertible (3.125%) Notes Maturity Date, Available Liquidity
minus the outstanding principal amount of the Senior 2007 Convertible (3.125%) Notes due
2014, as applicable (determined as of such date, and referred to herein as the “Remaining
Liquidity”) is less than $10,000,000, the “Maturity Date” shall be the later of (x) such date
to occur during such six (6) month period and (y) 92 days prior to the Senior 2007 Convertible
(3.125%) Notes Maturity Date (any such event, a “Springing Maturity Date”), except that, in
the case of clause (y), if the Remaining Liquidity is equal to or greater than $10,000,000 at any
time during the interim period prior to such 92nd day (and for so long as such amount is
maintained), the Springing Maturity Date shall not apply and (b) if any date of determination of
the “Maturity Date” or “Springing Maturity Date”, as the case may be, is not a Business Day, such
Maturity Date or Springing Maturity Date shall be the next preceding Business Day.

     “Maximum Permitted Time” means (a) with respect to Section 6.01(a)(i), the
latest date for the delivery of annual financial statements on Form 10-K (or other applicable form)
pursuant
to the rules of the SEC in effect at such time, including any applicable grace period for
which no special application to the SEC is required, (b) with respect to Section
6.01(b)(i), the latest date for the delivery of quarterly financial statements on Form 10-Q (or
other applicable form) pursuant to the rules of the SEC in effect at such time, including any
applicable grace period for which no special application to the SEC is required, and (c) with
respect to Compliance

27

 

Certificates, 15 days after the required date of delivery of the financial statements
described in Section 6.01(a)(i) or Section 6.01(b)(i), as applicable.

     “Maximum Restricted Payment Amount” means, as measured at the time of any Restricted
Payment permitted by Section 7.09, the sum of $30,000,000 in each fiscal year of SEI
(without carrying forward any unused amounts in one fiscal year to any later fiscal year)
plus the Additional Restricted Payment Amount in effect on such date (if positive), it
being understood that the first amounts used each fiscal year will be the annual $30,000,000 limit
and the Additional Restricted Payment Amount will only be utilized after such annual amount is
exhausted for such fiscal year.

     “Maximum Specified Additional Debt Amount” means, as of any date of determination
thereof, (a) $450,000,000 minus (b) the maximum aggregate principal amount of the
Refinancing Indebtedness that have been issued prior to, or are to be issued on, such date,
minus (c) the maximum aggregate principal amount by which the Aggregate Commitments have
been increased prior to, or are to be increased on, such date (including as a result of creating a
new term loan facility) pursuant to Section 2.14, it being understood that the aggregate
principal amount of the Refinancing Indebtedness and the amount of any increase in the Aggregate
Commitments pursuant to Section 2.14 shall not in any case exceed $450,000,000 whether
occurring consecutively or simultaneously.

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

     “Multiemployer Plan” means any employee benefit plan of the type described in Section
4001(a)(3) of ERISA, to which any Borrower or any ERISA Affiliate makes or is obligated to make
contributions, or during the preceding five plan years, has made or been obligated to make
contributions.

     “Multiple Employer Plan” means a Plan which has two or more contributing sponsors
(including any Borrower or any ERISA Affiliate) at least two of whom are not under common control,
as such a plan is described in Section 4064 of ERISA.

     “Net Proceeds” (a) from any public or private offering of any debt or equity security
means cash payments received by SEI or any Subsidiary therefrom as and when received, net of all
legal, accounting, banking and underwriting fees and expenses, commissions, discounts and other
issuance expenses incurred in connection therewith (but excluding any transaction fees or expenses
paid to SEI or any of its Affiliates) and all taxes required to be paid or accrued as a consequence
of such issuance; and (b) from any Asset Disposition by SEI or any of its Subsidiaries means the
Adjusted Disposition Proceeds therefrom minus all amounts utilized by the Borrowers prior
to the date of determination of the “Net Proceeds” from such Asset Disposition to purchase other
assets, make Capital Expenditures and otherwise reinvest in the business of SEI and its
Subsidiaries, in each case in a manner permitted by this Agreement.

     “Non-Compete Liabilities” means all liabilities of SEI or its Subsidiaries to the
extent such liabilities arise directly from non-compete obligations of SEI or a Subsidiary.

     “Note” means a promissory note made by one or more of the Borrowers in favor of a
Lender evidencing Loans made by such Lender, substantially in the form of Exhibit C.

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     “Obligations” means all advances to, and debts, liabilities, obligations, covenants
and duties of, any Loan Party arising under any Loan Document or otherwise with respect to any
Loan, Letter of Credit, Secured Cash Management Agreement or Secured Hedge Agreement, whether
direct or indirect (including those acquired by assumption), absolute or contingent, due or to
become due, now existing or hereafter arising and including interest and fees that accrue after the
commencement by or against 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.

     “Operating Cash Flow” means, for any period of measurement thereof, the amount of “Net
Cash Provided by Operating Activities” as that term is used in the Form 10-K filed by SEI with the
SEC for the fiscal year ended October 31, 2010, or such similar term as may from time to time be
reflected on the cash flow statement of SEI and its Subsidiaries conveying substantially the same
information as provided by the term “Net Cash Provided by Operating Activities” in such October 31,
2010 Form 10-K.

     “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.

     “Original Agreement” has the meaning specified in the recitals to this Agreement.

     “Original Closing Date” means June 29, 2001, the date of closing of the Original
Agreement.

     “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 Committed Loans and Swing Line Loans on
any date, the aggregate outstanding principal amount thereof after giving effect to any borrowings
and prepayments or repayments of Committed Loans and Swing Line 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 Borrowers of Unreimbursed Amounts.

     “Participant” has the meaning specified in Section 10.06(d).

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     “PBGC” means the Pension Benefit Guaranty Corporation.

     “PCAOB” means the Public Company Accounting and Oversight Board.

     “Pension Act” means the Pension Protection Act of 2006.

     “Pension Funding Rules” means the rules of the Code and ERISA regarding minimum
required contributions (including any installment payment thereof) to Pension Plans and set forth
in, with respect to plan years ending prior to the effective date of the Pension Act, Section 412
of the Code and Section 302 of ERISA, each as in effect prior to the Pension Act and, thereafter,
Section 412, 430, 431, 432 and 436 of the Code and Sections 302, 303, 304 and 305 of ERISA.

     “Pension Plan” means any employee pension benefit plan (including a Multiple Employer
Plan or a Multiemployer Plan) that is maintained or is contributed to by any Borrower and any ERISA
Affiliate and is either covered by Title IV of ERISA or is subject to the minimum funding standards
under Section 412 of the Code.

     “Permitted Indebtedness” means any Indebtedness permitted to be incurred, created or
assumed, or permitted to exist, pursuant to Section 7.05.

     “Permitted Liens” means any Liens permitted to be incurred, created or assumed, or
permitted to exist, pursuant to Section 7.04(a), (b), (c), (f),
(g) or (h).

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

     “Plan” means any employee benefit plan within the meaning of Section 3(3) of ERISA
(including a Pension Plan), maintained for employees of any Borrower or any ERISA Affiliate or any
such Plan to which any Borrower or any ERISA Affiliate is required to contribute on behalf of any
of its employees.

     “Pledge Agreement” means, collectively or individually as the context may indicate,
(i) that certain Amended and Restated Securities Pledge Agreement dated as of June 2, 2009 between
SEI, the Domestic Subsidiaries party thereto and the Collateral Agent, as amended, supplemented or
otherwise modified prior to the date hereof and as otherwise supplemented from time to time by the
execution and delivery of Pledge Joinder Agreements or Pledge Agreement Supplements pursuant the
terms of any Loan Document, and (ii) if applicable, with respect to any Subsidiary Securities
issued by a Direct Foreign Subsidiary, any additional or substitute charge, agreement, document,
instrument or conveyance, in form and substance acceptable to the Administrative Agent, conferring
under applicable foreign law upon the Collateral Agent for the benefit of the Senior Secured
Parties a Lien upon such Subsidiary Securities as are owned by SEI or any Domestic Subsidiary.

     “Pledge Agreement Supplement” means, with respect to each Pledge Agreement, the Pledge
Agreement Supplement in the form affixed as an Exhibit to such Pledge Agreement.

30

 

     “Pledge Joinder Agreement” means a Pledge Joinder Agreement, substantially in the form
thereof attached to the Pledge Agreement, executed and delivered by a Guarantor to the Collateral
Agent pursuant to Section 6.19.

     “Pledged Interests” means the Subsidiary Securities pledged or required to be pledged
as Collateral pursuant to the terms of this Agreement or any Pledge Agreement.

     “PR Borrowers” has the meaning given such term in the preamble hereto.

     “PR Borrowing Limit” means, with respect to the PR Borrowers, $10,000,000.

     “PR Downstream Limit” means, at any time of measurement thereof, (a) the sum of (i)
$10,000,000 plus (ii) any and all amounts from time to time paid by the PR Borrowers to SEI
or any SEI Guarantor in the form of cash dividends or other cash distributions in respect of SEI’s
direct or indirect ownership interests in the PR Borrowers plus (iii) cash amounts, not to
exceed $12,545,454 in the aggregate, from time to time received by SEI or any SEI Guarantor,
directly or indirectly, from the PR Borrowers in respect of intercompany Indebtedness owing from
the PR Borrowers, directly or indirectly, to SEI or any SEI Guarantor on the Effective Date,
minus (b) the aggregate amount of the calculation in (a) above that has been or is being
utilized at such time pursuant to Sections 7.05(g)(vi), 7.06(g)(v) and
7.07(e)(iv).

     “PR Guarantors” means, individually or collectively as the context may indicate, each
PR Subsidiary as of the Effective Date, and each other PR Subsidiary delivering a Guaranty from
time to time pursuant to Section 6.19 hereof.

     “PR Subsidiary” means, individually or collectively as the context may indicate, any
Subsidiary of either Cementerios or Funerarias organized under the laws of Puerto Rico.

     “Public Lender” has the meaning specified in Section 6.01.

     “Refinancing Indebtedness” means unsecured senior notes, unsecured senior subordinated
notes or other unsecured Indebtedness of SEI issued for the purpose of refinancing the Senior
Indenture Notes where (a) the earliest maturity (including any “put” option of the holders thereof,
other than customary and usual put rights or repurchase obligations arising as a result of a change
in control (so long as such change in control provision is not more restrictive than the Change of
Control provided herein) and customary and usual obligations requiring repurchase with the proceeds
of asset sales in the event such proceeds are not used or required to be used to reinvest or pay
down senior indebtedness) of any such notes or other Indebtedness is not earlier than the date that
is six months after the Maturity Date, (b) such notes or other Indebtedness shall not in any way
limit the ability of SEI or any of its Subsidiaries to grant a Lien on any of their respective real
property as security for the Obligations, (c) such notes or other Indebtedness may be Guaranteed by
the SEI Guarantors, and (d) either (i) the issuance
thereof satisfies the requirements of Section 7.05(i) or of Section 7.05(j)
(in addition to the requirements of Section 7.05(h)), or (ii) the terms thereof are
otherwise satisfactory to the Administrative Agent in its reasonable discretion.

     “Register” has the meaning specified in Section 10.06(c).

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     “Registrar” means, with respect to any Subsidiary Securities, any Person authorized or
obligated to maintain records of the registration of ownership or transfer of ownership of
interests in such Subsidiary Securities, and in the event no such Person shall have been expressly
designated by the related Subsidiary, shall mean (i) as to any corporation or limited liability
company, its Secretary (or comparable official), and (ii) as to any partnership, its general
partner (or managing general partner if one shall have been appointed).

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

     “Remaining Liquidity” has the meaning specified in the definition of Maturity Date.

     “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.

     “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 Swing Line Loan, a
Swing Line Loan Notice.

     “Required Lenders” means, as of any date of determination, Lenders having more than
50% of the sum of (i) the Aggregate Commitments or, if the commitment of each Lender to
make Loans and the obligation of the L/C Issuer to make L/C Credit Extensions have been terminated
pursuant to Section 8.02, Lenders holding in the aggregate more than 50% of the Total
Outstandings (with the aggregate amount of each Lender’s risk participation and funded
participation in L/C Obligations and Swing Line Loans being deemed “held” by such Lender for
purposes of this definition) and (ii) the aggregate outstanding principal amount of Incremental
Term Loans after giving effect to any borrowings and prepayments or repayments of Incremental Term
Loans occurring on such date; provided that the Commitment of, and the portion of the Total
Outstandings (and, in the case of any Incremental Term Facility, the portion of the outstanding
principal amount of Incremental Term Loans) 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, or any vice
president of a Loan Party or, with respect to financial matters, the chief financial officer,
treasurer, chief accounting officer or assistant treasurer thereof, or any other Person authorized
by the Board of Directors of a Loan Party (or the appropriate committee thereof) as an Responsible
Officer thereof, as set forth from time to time in a certificate in the form of Exhibit F.
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 (a) any dividend or other distribution, direct or indirect,
on account of any shares of any Equity Interests of SEI or any Subsidiary Securities of its

32

 

Subsidiaries (other than those payable or distributable solely to SEI or a Subsidiary of SEI)
now or hereafter outstanding, except a dividend payable solely in shares of a class of stock or
other equity interests to the holders of that class; (b) any redemption, conversion, exchange,
retirement or similar payment, purchase or other acquisition for value, direct or indirect, of any
Equity Interests of SEI or any Subsidiary Securities of its Subsidiaries (other than those payable
or distributable solely to SEI or any SEI Guarantor) now or hereafter outstanding; (c) any payment
(other than those payable solely in shares of a class of stock or other equity interests) made to
retire, or to obtain the surrender of, any Equity Interests of SEI or any Subsidiary Securities of
its Subsidiaries now or hereafter outstanding; (d) any issuance and sale of Subsidiary Securities
of any SEI Guarantor other than (x) to SEI or another SEI Guarantor, or (y) in connection with any
Disposition of the issuer thereof permitted hereby; and (e) any issuance and sale of Subsidiary
Securities of any Subsidiary of SEI other than an SEI Guarantor other than (x) to another
Subsidiary of SEI other than an SEI Guarantor, or (y) in connection with any Disposition of the
issuer thereof permitted hereby.

     “Revolving Credit Facility” means the revolving credit facility described in
Sections 2.01 through 2.04 providing for Loans to the Borrowers, and for the
avoidance of doubt, shall include any increase thereof pursuant to any Incremental Revolving
Commitment.

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

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

     “Secured Cash Management Agreement” means any Cash Management Agreement that is
entered into by and between any Loan Party and any Cash Management Bank.

     “Secured Hedge Agreement” means any Swap Contract permitted under Article VII
that is entered into by and between any Loan Party and any Hedge Bank.

     “Security Agreement” means that certain Amended and Restated Security Agreement dated
as of June 2, 2009 among SEI, the SEI Guarantors party thereto and the Collateral Agent, as
amended, supplemented or otherwise modified prior to the date hereof and as otherwise supplemented
from time to time by the execution and delivery of Security Joinder Agreements pursuant to
Section 6.19.

     “Security Joinder Agreement” means each Security Joinder Agreement, substantially in
the form thereof attached to the Security Agreement, executed and delivered by an SEI Guarantor or
any other Person to the Administrative Agent pursuant to Section 6.19.

     “Security Instruments” means, collectively, the Pledge Agreement (including any Pledge
Joinder Agreements and any Pledge Agreement Supplements), the Security Agreement (including any
Security Joinder Agreements), the Intellectual Property Security Agreement
(including any Intellectual Property Security Joinder Agreements), and all other agreements
(including control agreements), instruments and other documents, whether now existing or hereafter
in effect, pursuant to which SEI or any Subsidiary or other Person shall grant or convey

33

 

to the Collateral Agent, Administrative Agent or any Senior Secured Party a Lien in, or any
other Person shall acknowledge any such Lien in, property as security for all or any portion of the
Obligations or any other obligation under any Loan Document, as any of them may be amended,
modified or supplemented from time to time.

     “SEI” has the meaning given such term in the preamble hereto.

     “SEI Guarantors” means, individually or collectively as the context may indicate, each
Domestic Subsidiary of SEI as of the Effective Date, other than the Excluded Subsidiaries, and each
other Domestic Subsidiary of SEI delivering a Guaranty from time to time pursuant to Section
6.19 hereof.

     “Seller Financed Indebtedness” means the Indebtedness of SEI and its Subsidiaries
outstanding on the Effective Date (a) that is owing to third parties, (b) that was incurred or
assumed in connection with the acquisition of assets (including stock) prior to May 10, 2001, and
(c) the maximum principal amount of which is not in excess of $100,000.

     “Senior Indenture Notes” means (i) the Senior 2007 Convertible (3.125%) Notes, (ii)
the Senior 2007 Convertible (3.375%) Notes and (iii) the Senior 2011 (6.50%) Notes.

     “Senior 2005 (6.250%) Indenture” means that certain Indenture by and between SEI and
U.S. Bank National Association, as trustee, dated as of February 11, 2005 providing for the
issuance of the Senior 2005 (6.250%) Notes which such Senior 2005 (6.250%) Notes were repaid prior
to (or with respect to that portion of the Senior 2005 (6.250%) Notes referenced on Schedule
7.05(a)(ii), after) the Effective Date.

     “Senior 2005 (6.250%) Notes” means those certain unsecured notes of SEI due 2013 and
issued pursuant to the Senior 2005 (6.250%) Indenture in the initial principal amount of
$200,000,000 which such unsecured notes were repaid prior to (or with respect to that portion of
such senior notes referenced on Schedule 7.05(a)(ii), after) the Effective Date.

     “Senior 2007 (3.125%) Indenture” means that certain Indenture by and between SEI and
U.S. Bank National Association, as trustee, dated as of June 27, 2007 providing for the issuance of
the Senior 2007 Convertible (3.125%) Notes.

     “Senior 2007 Convertible (3.125%) Notes” means those certain unsecured notes of SEI
due 2014 and issued pursuant to the Senior 2007 (3.125%) Indenture in the initial principal amount
of $125,000,000.

     “Senior 2007 Convertible (3.125%) Notes Maturity Date” means the maturity date of the
Senior 2007 Convertible (3.125%) Notes due 2014.

     “Senior 2007 (3.375%) Indenture” means that certain Indenture by and between SEI and
U.S. Bank National Association, as trustee, dated as of June 27, 2007 providing for the issuance of
the Senior 2007 Convertible (3.375%) Notes.

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     “Senior 2007 Convertible (3.375%) Notes” means those certain unsecured notes of SEI
due 2016 and issued pursuant to the Senior 2007 (3.375%) Indenture in the initial principal amount
of $125,000,000.

     “Senior 2011 (6.50%) Indenture” means that certain Indenture by and between SEI and
U.S. Bank National Association, as trustee, dated as of April 18, 2011 providing for the issuance
of the Senior 2011 (6.50%) Notes.

     “Senior 2011 (6.50%) Notes” means those certain unsecured notes of SEI issued pursuant
to the Senior 2011 (6.50%) Indenture in the initial principal amount of $200,000,000.

     “Senior Secured Parties” means, collectively, the Administrative Agent, the Collateral
Agent, the Lenders, the L/C Issuer, the Hedge Banks, the Cash Management Banks, each co-agent or
sub-agent appointed by the Administrative Agent or the Collateral Agent from time to time pursuant
to Section 9.05.

     “Solvent” means, when used with respect to any Person, that at the time of
determination:

     (a) the fair value of its assets (both at fair valuation and at present fair saleable
value on an orderly basis) is in excess of the total amount of its liabilities, including,
without duplication, contingent obligations; and

     (b) it is then able and expects to be able to pay its debts as they mature; and

     (c) it has capital sufficient to carry on its business as conducted and as proposed to
be conducted.

     “SPC” has the meaning specified in Section 10.06(h).

     “Stewart Parties” means, individually or collectively as the context may indicate, (a)
any family member of Frank B. Stewart, Jr., or (b) any trust, the beneficiary, owner or Person
beneficially holding an 80% or more controlling interest of which consists of Frank B. Stewart, Jr.
and/or such other Persons referred to in the immediately preceding clause (a).

     “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 securities or other
interests having ordinary voting power for the election of directors or other governing body (other
than securities or interests 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 SEI.

     “Subsidiary Securities” means the Equity Interests in any Subsidiary, whether or not
constituting a “security” under Article 8 of the Uniform Commercial Code as in effect in any
jurisdiction.

35

 

     “Swap Contract” means (a) any and all rate swap transactions, basis swaps, credit
derivative transactions, forward rate transactions, commodity swaps, commodity options, forward
commodity contracts, equity or equity index swaps or options, bond or bond price or bond index
swaps or options or forward bond or forward bond price or forward bond index transactions, interest
rate options, forward foreign exchange transactions, cap transactions, floor transactions, collar
transactions, currency swap transactions, cross-currency rate swap transactions, currency options,
spot contracts, or any other similar transactions or any combination of any of the foregoing
(including any options to enter into any of the foregoing), whether or not any such transaction is
governed by or subject to any master agreement, and (b) any and all transactions of any kind, and
the related confirmations, which are subject to the terms and conditions of, or governed by, any
form of master agreement published by the International Swaps and Derivatives Association, Inc.,
any International Foreign Exchange Master Agreement, or any other master agreement (any such master
agreement, together with any related schedules, a “Master Agreement”), including any such
obligations or liabilities under any Master Agreement; provided that no phantom stock or
similar plan providing for payments only on account of services provided by current or former
directors, officers, employees or consultants of SEI or its Subsidiaries shall be a Swap Contract.

     “Swap Termination Value” means, in respect of any one or more Swap Contracts, after
taking into account the effect of any legally enforceable 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).

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

     “Swing Line Lender” means Bank of America in its capacity as provider of Swing Line
Loans, or any successor swing line lender hereunder.

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

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

     “Swing Line Sublimit” means an amount equal to the lesser of (a) $10,000,000 and (b)
the Aggregate Commitments. The Swing Line Sublimit is part of, and not in addition to, the
Aggregate Commitments.

     “Synthetic Lease Obligation” means the monetary obligation of a Person under (a) a
so-called synthetic, off-balance sheet or tax retention lease, or (b) an agreement for the use or
possession of property creating obligations that do not appear on the balance sheet of such Person
but which, upon the insolvency or bankruptcy of such Person, would be characterized as the
indebtedness of such Person (without regard to accounting treatment).

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

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

     “Type” means, with respect to a Committed Loan, its character as a Base Rate Loan or a
Eurodollar Rate Loan.

     “Unencumbered Domestic Liquid Assets” means, at any time, cash, Eligible Securities
and readily marketable securities, in each case not subject to any Lien (other than any Lien of a
type permitted by Section 7.04(a), (b) or (c)(iii)) or held in any trust
(including any cemetery perpetual care trust), then held by SEI or the SEI Guarantors that would be
reflected on a consolidated balance sheet of SEI and the SEI Guarantors at such time.

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

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

     “Voting Securities” means Equity Interests issued by a Person, the holders of which
are ordinarily, in the absence of contingencies, entitled to vote for the election of directors (or
persons performing similar functions) of such Person, even if the right so to vote has been
suspended by the happening of such a contingency.

     “Wholly-Owned Subsidiary” means any Subsidiary in which (other than directors’
qualifying shares required by law) 100% of the capital stock, membership interests or other Equity
Interests of each class having ordinary voting power, and 100% of the capital stock, membership
interests or other Equity Interests of every other class, in each case, at the time as of which any
determination is being made, is owned, beneficially and of record, by SEI, or by one or more of the
other Wholly-Owned Subsidiaries, or both.

     1.03 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), including in each case as supplemented by any Guaranty Joinder Agreement, Pledge
Agreement Supplement, Pledge Joinder Agreement, Intellectual Property Security Agreement
Supplement, Intellectual Property Security Joinder Agreement, Security

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Joinder Agreement or the Consolidated Amendment and Reaffirmation Agreement, as
applicable, (ii) any reference herein to any Person shall be construed to include such
Person’s successors and assigns, (iii) the words “hereto”, “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, (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 specified, refer to such law or regulation as amended, modified or supplemented
from time to time, and (vi) the words “asset” and “property” shall be
construed to have the same meaning and effect and to refer to any and all tangible and
intangible assets and properties, including cash, securities, accounts and contract rights.

     (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.

     1.04 Accounting Adjustments. With respect to any Asset Disposition in excess of $1,000,000 by
SEI or any of its Subsidiaries permitted under Section 7.06(c) or (f) that is a
Material Asset Disposition or any Material Acquisition consummated on or after the Effective Date
and prior to the Facility Termination Date that is permitted hereby, the following shall apply:

     (a) For each of the four Four-Quarter Periods ending next following the date of each Asset
Disposition by SEI or any of its Subsidiaries permitted under Section 7.06(c) or
(f),

     (i) to the extent GAAP, applied on a consistent basis, does not so provide,
Consolidated EBITDA (and the components thereof) shall exclude the results of operations of
the Person or assets so disposed of on a historical pro forma basis as if such disposition
had been consummated on the first day of such Four-Quarter Period; and

     (ii) to the extent GAAP, applied on a consistent basis, does not so provide,
Consolidated Interest Expense shall be adjusted on a historical pro forma basis to (A)
eliminate interest expense accrued during such period on any Indebtedness permanently repaid
with the proceeds of, or disposed of in connection with, such Asset Disposition and (B)
include interest expense on any Indebtedness (including Indebtedness hereunder) incurred,
acquired or assumed in connection with such Asset Disposition (“Incremental Disposition
Debt”) calculated (x) as if all such Incremental Disposition Debt has been
incurred as of the first day of such Four-Quarter Period and (y) at the following
interest rates: (I) for all periods subsequent to the date of the Asset Disposition and for
Incremental Disposition Debt assumed or acquired in the Asset Disposition and in effect

38

 

prior to the date of the Asset Disposition, at the actual rates of interest applicable
thereto, and (II) for all periods prior to the actual incurrence of such Incremental
Disposition Debt, equal to the rate of interest actually applicable to such Incremental
Disposition Debt hereunder or under other financing documents applicable thereto, as the
case may be.

     (b) For each of the four Four-Quarter Periods ending next following the date of each
Acquisition,

     (i) to the extent GAAP, applied on a consistent basis, does not so provide,
Consolidated EBITDA (and the components thereof) shall include the results of operations of
the Person or assets so acquired on a historical pro forma basis as if such acquisition had
been consummated on the first day of such Four-Quarter Period; and

     (ii) to the extent GAAP, applied on a consistent basis, does not so provide,
Consolidated Interest Expense shall be adjusted on a historical pro forma basis to (A)
eliminate interest expense accrued during such period on any Indebtedness repaid in
connection with such Acquisition and (B) include interest expense on any Indebtedness
(including Indebtedness hereunder) incurred, acquired or assumed in connection with such
Acquisition (“Incremental Acquisition Debt”) calculated (x) as if all such
Incremental Acquisition Debt had been incurred as of the first day of such Four-Quarter
Period and (y) at the following interest rates: (I) for all periods subsequent to the date
of the Acquisition and for Incremental Acquisition Debt assumed or acquired in the
Acquisition and in effect prior to the date of Acquisition, at the actual rates of interest
applicable thereto, and (II) for all periods prior to the actual incurrence of such
Incremental Acquisition Debt, equal to the rate of interest actually applicable to such
Incremental Acquisition Debt hereunder or under other financing documents applicable
thereto, as the case may be.

     (c) As used in this Section 1.04, “Material Asset Disposition” means an Asset
Disposition that yields gross proceeds in excess of $1,000,000; and “Material Acquisition”
means an Acquisition that involves consideration in excess of $1,000,000.

     1.05 Accounting Terms. (a) Generally. All accounting terms not specifically or
completely 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, except as otherwise specifically prescribed herein.

     (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, and either SEI or the
Required Lenders shall so request, the Administrative Agent, the Lenders and the Borrowers shall
negotiate in good faith to amend such ratio or requirement to preserve the
original intent thereof in light of such change in GAAP; provided that (i) the
Borrowers’ obligations under this Section 1.05(b) are expressly limited to such good faith
negotiations and the Borrowers shall have no obligation to enter into any such amendment to the
extent the

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Borrowers have acted in good faith as provided herein but have been unable to reach agreement
with the Administrative Agent and the Lenders on the substance of any such amendment, and (ii) any
such amendment shall be subject to the approval of the Required Lenders; provided,
further, that unless and until so amended, (A) such ratio or requirement shall continue to
be computed in accordance with GAAP prior to such change therein and (B) SEI 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) In the event of any fiscal year change permitted by the proviso to Section 7.12,
the periods set forth in Section 7.01(c) shall be automatically adjusted to reflect the
last day of the applicable corresponding revised fiscal year end date.

     (d) For purposes of clarification in determining payment dates hereunder, the last days of
each fiscal quarter of SEI as of the Effective Date are January 31st, April
30th, July 31st and October 31st.

     1.06 Rounding. Any financial ratios required to be maintained by the Borrowers 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 (with a rounding-up if there is no
nearest number).

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

     1.08 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 Documents 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. Subject to the terms and conditions set forth herein, each Lender
severally agrees to make loans (each such loan, a “Committed Loan”) to one or more of the
Borrowers (subject to the PR Borrowing Limit) 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
such Lender’s Commitment; provided, however, that after giving effect to any
Committed Borrowing, (i) the Total Outstandings shall not exceed the Aggregate Commitments,
(ii) the aggregate Outstanding Amount of the Committed Loans of any Lender, plus such
Lender’s Applicable Percentage of the Outstanding Amount of all L/C Obligations, plus such

40

 

Lender’s Applicable Percentage of the Outstanding Amount of all Swing Line Loans shall not
exceed such Lender’s Commitment, and (iii) the Total Outstandings owing by the PR Borrowers shall
not exceed the PR Borrowing Limit. Within the limits of each Lender’s Commitment, and subject to
the other terms and conditions hereof, the Borrowers may borrow under this Section 2.01,
prepay under Section 2.05, and reborrow under this Section 2.01. Committed Loans
may be 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 SEI’s irrevocable notice to the
Administrative Agent, which may be given by telephone. 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 Committed Borrowing of, conversion to or continuation of Eurodollar Rate Loans or of any
conversion of Eurodollar Rate Loans to Base Rate Committed Loans, and (ii) on the requested date of
any Committed Borrowing of Base Rate Committed Loans; provided, however, that if
the Borrowers wish 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. five Business Days
prior to the requested date of such Committed Borrowing, conversion or continuation, whereupon 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. Not later than 11:00 a.m., three
Business Days before the requested date of such Committed Borrowing, conversion or continuation,
the Administrative Agent shall notify SEI (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 SEI
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 SEI (unless such Committed Loan Notice is being delivered by the Swing Line
Lender pursuant to Section 2.04(c) or by the Administrative Agent on behalf of the L/C
Issuer pursuant to Section 2.03(c)(i)); provided that the lack of such prompt
confirmation shall not affect the conclusiveness or binding effect of such telephonic notice. Each
Committed 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 Sections 2.03(c) and 2.04(c), each Committed Borrowing of or conversion
to Base Rate Committed Loans shall be in a principal amount of $1,000,000 or a whole multiple of
$1,000,000 in excess thereof. Each Committed Loan Notice (whether telephonic or written) shall
specify (i) whether SEI 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
Committed 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 Loans are to be converted, (v) if
applicable, the duration of the Interest Period with respect thereto and (vi) if applicable, the
identity of the Borrower or Borrowers to whom such Committed Borrowing is to
be made or existing Committed Loan converted or continued. If SEI fails to specify a Type of
Committed Loan in a Committed Loan Notice or if SEI fails to give a timely notice requesting a
conversion or continuation, then the applicable Committed Loans shall be made as or converted

41

 

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 SEI requests a Committed 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.

     (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 SEI, 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 4.02 (and, if such Borrowing is the initial Credit Extension,
Section 4.01), the Administrative Agent shall make all funds so received available to the
applicable Borrower in like funds as received by the Administrative Agent either by (i) crediting
the account of the applicable 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 SEI; provided, that if, on the
date the Committed Loan Notice with respect to such Committed Borrowing is given by SEI, there are
L/C Borrowings outstanding, then the proceeds of such Committed Borrowing, first, shall be applied
to the payment in full of any such L/C Borrowings, and second, shall be made available to the
applicable Borrower as provided above.

     (c) Except as otherwise provided herein, 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 Loan may be requested as, converted into or continued as a Eurodollar Rate Loan
without the consent of the Required Lenders.

     (d) The Administrative Agent shall promptly notify SEI 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 Agent shall notify SEI
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 ten (10) Interest Periods in effect with respect to Loans.

     2.03 Letters of Credit.

     (a) The Letter of Credit Commitment.

     (i) Subject to the terms and conditions set forth herein, (A) the L/C Issuer agrees, in
reliance upon the agreements of the Lenders set forth in this Section 2.03, (1) from
time to time on any Business Day during the period from the Effective Date until

42

 

the Letter of Credit Expiration Date, to issue Letters of Credit for the account of the
Borrowers, and to amend 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 severally agree to participate in Letters of Credit issued for the account of the
Borrowers and any drawings thereunder; provided that after giving effect to any L/C
Credit Extension with respect to any Letter of Credit, (w) the Total Outstandings shall not
exceed the Aggregate Commitments, (x) the aggregate Outstanding Amount of the Committed
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 Swing Line Loans shall not exceed such Lender’s Commitment, (y)
the Outstanding Amount of the L/C Obligations shall not exceed the Letter of Credit
Sublimit, and (z) the Total Outstandings of the PR Borrowers shall not exceed the PR
Borrowing Limit. Each request by SEI, whether for itself or any other Borrower, for the
issuance or amendment of a Letter of Credit shall be deemed to be a representation by the
Borrowers 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, each Borrower’s ability to obtain Letters of Credit shall be
fully revolving, and accordingly the Borrowers 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. All Existing Letters of Credit shall be deemed to have been issued
pursuant hereto, and from and after the Effective Date shall be subject to and governed by
the terms hereof.

(ii) The L/C Issuer shall not 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.

     (iii) The L/C Issuer shall not 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 L/C Issuer from issuing such
Letter of Credit, or any Law applicable to the L/C Issuer or any request or
directive (whether or not having the force of law) from any Governmental Authority
with jurisdiction over the L/C Issuer shall prohibit, or request that the L/C Issuer
refrain from, the issuance of letters of credit generally or such Letter of Credit
in particular or shall impose upon the L/C Issuer with respect to such Letter of
Credit any restriction, reserve or capital requirement (for
which the L/C Issuer is not otherwise compensated hereunder) not in effect on
the Effective Date, or shall impose upon the L/C Issuer any unreimbursed loss, cost

43

 

or expense which was not applicable on the Effective Date and which the 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
the L/C Issuer;

     (C) except as otherwise agreed by the Administrative Agent and the 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;

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

     (F) any Lender is at that time a Defaulting Lender, unless the L/C Issuer has
entered into arrangements, including the delivery of Cash Collateral, satisfactory
to the L/C Issuer (in its sole discretion) with the Borrowers or such Lender to
eliminate the L/C Issuer’s actual or potential Fronting Exposure (after giving
effect to Section 2.19(a)(iv)) with respect to the Defaulting Lender arising
from either the Letter of Credit then proposed to be issued or that Letter of Credit
and all other L/C Obligations as to which the L/C Issuer has actual or potential
Fronting Exposure, as it may elect in its sole discretion.

     (iv) The L/C Issuer shall not amend any Letter of Credit if the L/C Issuer would not be
permitted at such time to issue such Letter of Credit in its amended form under the terms
hereof.

     (v) The L/C Issuer shall be under no obligation to amend any Letter of Credit if (A)
the 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.

     (vi) The L/C Issuer shall act on behalf of the Lenders with respect to any Letters of
Credit issued by it and the documents associated therewith, and the L/C Issuer shall have
all of the benefits and immunities (A) provided to the Administrative Agent in Article
IX with respect to any acts taken or omissions suffered by the L/C Issuer in connection
with Letters of Credit issued by it or proposed to be issued by it and Issuer Documents
pertaining to such Letters of Credit as fully as if the term “Administrative Agent” as used
in Article IX included the L/C Issuer with respect to such acts or omissions, and
(B) as additionally provided herein with respect to the L/C Issuer.

     (b) Procedures for Issuance and Amendment of Letters of Credit.

     (i) Each Letter of Credit shall be issued or amended, as the case may be, upon the
request of SEI, whether on behalf of itself or any other Borrower, delivered to the 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 SEI. Such

44

 

Letter of Credit Application must be received by the L/C Issuer and the Administrative
Agent not later than 11:00 a.m. at least two Business Days (or such later date and time as
the Administrative Agent and the L/C Issuer may agree in a particular instance in their sole
discretion) prior to the proposed issuance date or date of amendment, as the case may be.
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 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; (F) the full text of any certificate to be presented by such beneficiary
in case of any drawing thereunder; and (G) such other matters as the 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 L/C Issuer (A)
the Letter of Credit to be amended; (B) the proposed date of amendment thereof (which shall
be a Business Day); (C) the nature of the proposed amendment; and (D) such other matters as
the L/C Issuer may require. Additionally, SEI, on behalf of itself or any other Borrower,
as the case may be, shall furnish to the L/C Issuer and the Administrative Agent such other
documents and information pertaining to such requested Letter of Credit issuance or
amendment, including any Issuer Documents, as the L/C Issuer or the Administrative Agent may
require.

     (ii) Promptly after receipt of any Letter of Credit Application, the L/C Issuer will
confirm with the Administrative Agent (by telephone or in writing) that the Administrative
Agent has received a copy of such Letter of Credit Application from SEI, on behalf of itself
or any other Borrower, as the case may be, and, if not, the L/C Issuer will provide the
Administrative Agent with a copy thereof. Unless the L/C Issuer has received written notice
from any Lender, the Administrative Agent or any Loan Party, at least one Business Day prior
to the requested date of issuance or amendment of the applicable Letter of Credit, that one
or more applicable conditions contained in Article IV shall not then be satisfied,
then, subject to the terms and conditions hereof, the L/C Issuer shall, on the requested
date, issue a Letter of Credit for the account of the applicable Borrower or enter into the
applicable amendment, as the case may be, in each case in accordance with the L/C Issuer’s
usual and customary business practices. Immediately upon the issuance of each Letter of
Credit, each Lender shall be deemed to, and hereby irrevocably and unconditionally agrees
to, purchase from the 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 SEI so requests in any applicable Letter of Credit Application, the L/C Issuer
may, in its sole 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 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 which is at least 30 days prior to the then applicable expiry date (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 L/C Issuer, the
Borrowers shall not

45

 

be required to make a specific request to the 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 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 L/C Issuer shall not permit any such extension
if (A) the 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 (as extended)
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 ten (10) 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, any Lender or the Borrowers that one or
more of the applicable conditions specified in Section 4.02 is not then satisfied,
and in each such case directing the 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 L/C
Issuer will also deliver to SEI and the Administrative Agent a true and complete copy of
such Letter of Credit or amendment.

     (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 L/C Issuer shall notify SEI, on behalf of itself or
any other applicable Borrower, and the Administrative Agent thereof. Not later than 11:00
a.m. on the date of any payment by the L/C Issuer under a Letter of Credit (each such date,
an “Honor Date”), the Borrowers shall reimburse the L/C Issuer through the
Administrative Agent in an amount equal to the amount of such drawing. If the Borrowers
fail to so reimburse the L/C Issuer by such time, the Administrative Agent shall promptly
notify each Lender 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, SEI, on behalf of itself or any other applicable Borrower, shall be
deemed to have requested a Committed Borrowing of Base Rate 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 Loans, but
subject to the amount of the unutilized portion of the Aggregate Commitments and the
conditions set forth in Section 4.02 (other than the delivery of a Committed Loan
Notice). Any notice given by the 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 shall upon any notice pursuant to Section 2.03(c)(i) make
funds available to the Administrative Agent (and the Administrative Agent may apply
Cash Collateral provided for this purpose) for the account of the 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

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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 Committed Loan to SEI, on behalf of itself or any other applicable
Borrower, in such amount. The Administrative Agent shall remit the funds so received to the
L/C Issuer.

     (iii) With respect to any Unreimbursed Amount that is not fully refinanced by a
Committed Borrowing of Base Rate Loans because the conditions set forth in Section
4.02 cannot be satisfied or for any other reason, SEI or the other applicable Borrower
shall be deemed to have incurred from the 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 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 Committed Loan or L/C Advance pursuant to this
Section 2.03(c) to reimburse the 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 L/C Issuer.

     (v) Each Lender’s obligation to make Committed Loans or L/C Advances to reimburse the
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 L/C Issuer, any 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 Committed Loans
pursuant to this Section 2.03(c) is subject to the conditions set forth in
Section 4.02 (other than delivery by SEI of a Committed Loan Notice). No such
making of an L/C Advance shall relieve or otherwise impair the obligation of SEI or any
other applicable Borrower to reimburse the L/C Issuer for the amount of any payment made by
the 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 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), then, without limiting the other provisions of this Agreement, the 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 L/C
Issuer at a rate per annum equal to the greater of the Federal Funds Rate and a rate
determined by the L/C Issuer in accordance with banking industry practice on interbank compensation,
plus any administrative, processing or similar fees customarily charged by the L/C Issuer in
connection with the foregoing. If such Lender pays such amount (with interest and

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fees as aforesaid), the amount so paid (other than interest and fees paid as aforesaid) shall
constitute such Lender’s Committed Loan included in the relevant Committed Borrowing or L/C
Advance in respect of the relevant L/C Borrowing, as the case may be. A certificate of the
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 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 L/C Issuer any payment in respect of the related Unreimbursed Amount or
interest thereon (whether directly from SEI, any other applicable 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 L/C
Issuer pursuant to Section 2.03(c)(i) is required to be returned under any of the
circumstances described in Section 10.05 (including pursuant to any settlement
entered into by the L/C Issuer in its discretion), each Lender shall pay to the
Administrative Agent for the account of the 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. The obligations of the Lenders under this clause
shall survive the payment in full of the Obligations and the termination of this Agreement.

     (e) Obligations Absolute. The obligation of the Borrowers to reimburse the 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;

     (ii) the existence of any claim, counterclaim, setoff, defense or other right that any
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 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

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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 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 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, any Borrower or any Subsidiary.

     SEI, on behalf of itself or any other applicable 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 SEI’s instructions or other irregularity, SEI will immediately notify
the L/C Issuer. The Borrowers shall be conclusively deemed to have waived any such claim against
the L/C Issuer and its correspondents unless such notice is given as aforesaid.

     (f) Role of L/C Issuer. Each Lender and each of the Borrowers agree that, in paying
any drawing under a Letter of Credit, the 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 L/C Issuer, the
Administrative Agent, any of their respective Related Parties nor any correspondent, participant or
assignee of the L/C Issuer shall be liable to any Lender for (i) any action taken or omitted in
connection herewith at the request or with the approval of the Lenders or the Required Lenders, as
applicable; (ii) any action taken or omitted in the absence of gross negligence or willful
misconduct; or (iii) the due execution, effectiveness, validity or enforceability of any document
or instrument related to any Letter of Credit or Issuer Document. The Borrowers hereby assume 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 assumption is not intended to, and
shall not, preclude any Borrower 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 correspondent, participant
or assignee of the 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 Borrowers may have a claim against
the L/C Issuer, and the L/C Issuer may be liable to the Borrowers, to the extent, but only to the
extent, of any direct, as opposed to consequential or exemplary, damages suffered by the Borrowers
which the Borrowers prove were caused by the L/C Issuer’s willful misconduct or gross negligence or
the 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 L/C
Issuer may

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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 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) Applicability of ISP. Unless otherwise expressly agreed by the L/C Issuer and SEI
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.

     (h) Letter of Credit Fees. The Borrowers shall pay to the Administrative Agent for
the account of each Lender in accordance with its Applicable Percentage a Letter of Credit fee (the
“Letter of Credit Fee”) for each Letter of Credit equal to the Applicable Rate
times the daily maximum amount available to be drawn under such Letter of Credit;
provided, however, any Letter of Credit Fees otherwise payable for the account of a
Defaulting Lender with respect to any Letter of Credit as to which such Defaulting Lender has not
provided Cash Collateral satisfactory to the L/C Issuer pursuant to this Section 2.03 shall
be payable, to the maximum extent permitted by applicable Law, to the other Lenders in accordance
with the upward adjustments in their respective Applicable Percentages allocable to such Letter of
Credit pursuant to Section 2.19(a)(iv), with the balance of such fee, if any, payable to
the L/C Issuer for its own account. For 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 1.08. Letter of Credit Fees shall be (i) computed on a quarterly
basis in arrears and (ii) due and payable on the last Business Day of each fiscal quarter of SEI,
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. If there is any change in the
Applicable Rate during any quarter, the daily amount available to be drawn under each Letter of
Credit shall be computed and multiplied by the Applicable Rate separately for each period during
such quarter that such Applicable Rate was in effect. Notwithstanding anything to the contrary
contained herein, upon the request of the Required Lenders, while any Event of Default exists, all
Letter of Credit Fees shall accrue at the Default Rate.

     (i) Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer. The
Borrowers shall pay directly to the L/C Issuer for its own account a fronting fee with respect to
each Letter of Credit, at the rate per annum specified in the Fee Letter, computed on the daily
amount available to be drawn under such Letter of Credit and on a quarterly basis in arrears,
and due and payable on the last Business Day of each fiscal quarter of SEI, 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 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 1.08. In addition, the Borrowers shall pay directly to the L/C
Issuer for its own account the customary issuance, presentation, amendment and other processing
fees, and other standard costs and charges, of the 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.

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

     2.04 Swing Line Loans.

     (a) The Swing Line. Subject to the terms and conditions set forth herein, the Swing
Line Lender may, in reliance upon the agreements of the other Lenders set forth in this Section
2.04, in its sole and absolute discretion, make loans (each such loan, a “Swing Line
Loan”) to the Borrowers (subject to the PR Borrowing Limit) 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 Swing Line Sublimit, notwithstanding the fact that such Swing Line Loans, when
aggregated with the Applicable Percentage of the Outstanding Amount of Committed Loans and L/C
Obligations of the Lender acting as Swing Line Lender, may exceed the amount of such Lender’s
Commitment; provided, that after giving effect to any Swing Line Loan, (i) the Total
Outstandings shall not exceed the Aggregate Commitments, (ii) the aggregate Outstanding Amount of
the Committed 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 Swing Line Loans shall not exceed such Lender’s Commitment, and (iii) the
Outstanding Amount of Committed Loans and Swing Line Loans owing by the PR Borrowers shall not
exceed the applicable PR Borrowing Limit; and provided, further, that no Borrower
shall use the proceeds of any Swing Line Loan to refinance any outstanding Swing Line Loan. Within
the foregoing limits, and subject to the other terms and conditions hereof, the Borrowers may
borrow under this Section 2.04, prepay under Section 2.05, and reborrow under this
Section 2.04. Each Swing Line Loan shall be a Base Rate Loan. Immediately upon the making
of a Swing Line Loan, each Lender shall be deemed to, and hereby irrevocably and unconditionally
agrees to, purchase from the Swing Line Lender a risk participation in such Swing Line Loan in an
amount equal to the product of such Lender’s Applicable Percentage times the amount of such
Swing Line Loan.

     (b) Borrowing Procedures. Each Swing Line Borrowing shall be made upon SEI’s
irrevocable notice to the Swing Line Lender and the Administrative Agent, which may be given by
telephone. Each such notice must be received by the Swing Line Lender and the Administrative Agent
not later than 1:00 p.m. on the requested borrowing date, and shall specify
(i) the amount to be borrowed, which shall be a minimum of $100,000, (ii) the requested
borrowing date, which shall be a Business Day, and (iii) the Borrower to whom such Swing Line Loan
is to be made (subject to the applicable PR Borrowing Limit). Each such telephonic notice must be
confirmed promptly by delivery to the Swing Line Lender and the Administrative Agent of a written
Swing Line Loan Notice, appropriately completed and signed by a Responsible Officer of SEI.
Promptly after receipt by the Swing Line Lender of any telephonic Swing Line Loan Notice, the Swing
Line Lender will confirm with the Administrative Agent (by telephone or in writing) that the
Administrative Agent has also received such Swing Line Loan Notice and, if not, the Swing Line
Lender will notify the Administrative Agent (by telephone or in writing) of the contents thereof.
Unless the Swing Line Lender has received notice (by telephone or in writing) from the
Administrative Agent (including at the request of any Lender) prior to 2:00 p.m. on the date of the
proposed Swing Line Borrowing (A) directing the Swing Line Lender not to make such Swing Line Loan
as a result of the limitations set forth in the first proviso to the first sentence of Section
2.04(a), or (B) that one or more of the applicable conditions specified in

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Article IV is not then satisfied, then, subject to the terms and conditions hereof, the Swing Line Lender
will, not later than 3:00 p.m. on the borrowing date specified in such Swing Line Loan Notice, make
the amount of its Swing Line Loan available to the applicable Borrower.

     (c) Refinancing of Swing Line Loans.

     (i) The Swing Line Lender at any time in its sole and absolute discretion may request,
on behalf of the applicable Borrower (which hereby irrevocably authorizes the Swing Line
Lender to so request on its behalf), that each Lender make a Base Rate Committed Loan in an
amount equal to such Lender’s Applicable Percentage of the amount of Swing Line Loans then
outstanding. Such request shall be made in writing (which written request 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, the PR Borrowing Limit and the conditions set forth in Section
4.02. The Swing Line Lender shall furnish the applicable Borrower with a copy of the
applicable Committed Loan Notice promptly after delivering such notice to the Administrative
Agent. Each Lender 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 (and the Administrative Agent may apply Cash Collateral available with
respect to the applicable Swing Line Loan) for the account of the Swing Line Lender at the
Administrative Agent’s Office not later than 1:00 p.m. on the day specified in such
Committed Loan Notice, whereupon, subject to Section 2.04(c)(ii), each Lender that
so makes funds available shall be deemed to have made a Base Rate Committed Loan to the
applicable Borrower in such amount. The Administrative Agent shall remit the funds so
received to the Swing Line Lender.

     (ii) If for any reason any Swing Line Loan cannot be refinanced by such a Committed
Borrowing in accordance with Section 2.04(c)(i), the request for Base Rate
Committed Loans submitted by the Swing Line Lender as set forth herein shall be deemed
to be a request by the Swing Line Lender that each of the Lenders fund its risk
participation in the relevant Swing Line Loan and each Lender’s payment to the
Administrative Agent for the account of the Swing Line 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 Swing Line 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 Swing Line 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 Swing Line Lender at a rate per annum equal to the greater of
the Federal Funds Rate and a rate determined by the Swing Line Lender in accordance with
banking industry rules on interbank compensation, plus any administrative processing or
similar fees customarily charged by the Swing Line Lender in connection with the foregoing.
If such Lender pays such amount (with interest and

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fees as aforesaid), the amount so paid (other than interest and fees paid as aforesaid) shall constitute such Lender’s Committed
Loan included in the relevant Committed Borrowing or funded participation in the relevant
Swing Line Loan, as the case may be. A certificate of the Swing Line 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 Committed Loans or to purchase and fund risk
participations in Swing Line Loans pursuant to this Section 2.04(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 Swing Line Lender, a 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 Committed Loans pursuant to this Section 2.04(c) is
subject to the conditions set forth in Section 4.02 and the PR Borrowing Limit. No
such funding of risk participations shall relieve or otherwise impair the obligation of the
Borrowers to repay Swing Line Loans, together with interest as provided herein.

     (d) Repayment of Participations.

     (i) At any time after any Lender has purchased and funded a risk participation in a
Swing Line Loan, if the Swing Line Lender receives any payment on account of such Swing Line
Loan, the Swing Line 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 Swing Line Lender.

     (ii) If any payment received by the Swing Line Lender in respect of principal or
interest on any Swing Line Loan is required to be returned by the Swing Line Lender under
any of the circumstances described in Section 10.05 (including pursuant to any
settlement entered into by the Swing Line Lender in its discretion), each Lender shall pay
to the Swing Line 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 Swing Line Lender. The obligations of the
Lenders under this clause shall survive the payment in full of the Obligations and the
termination of this Agreement.

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

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

     2.05 Prepayments.

     (a) Each Borrower may, upon notice by SEI to the Administrative Agent, at any time or from
time to time voluntarily prepay Committed 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) two 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 $5,000,000 or a whole multiple of $1,000,000 in excess
thereof; and (iii) any prepayment of Base Rate Committed Loans shall be in a principal amount of
$1,000,000 or a whole multiple of $1,000,000 in excess thereof or, in each case, if less, the
entire principal amount thereof then outstanding. Each such notice shall specify the date and
amount of such prepayment and the Type(s) of Committed Loans to be prepaid and, if Eurodollar Rate
Committed Loans are to be prepaid, the Interest Period(s) of such Loans. 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 SEI on behalf of
itself or another Borrower, the applicable Borrower shall make such prepayment and the payment
amount specified in such notice shall be due and payable on the date specified therein. Any
prepayment of 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. Subject
to Section 2.19, each such prepayment shall be applied to the Committed Loans of the
Lenders in accordance with their respective Applicable Percentages.

     (b) Each Borrower may, upon notice by SEI to the Swing Line Lender (with a copy to the
Administrative Agent), at any time or from time to time, voluntarily prepay Swing Line Loans in
whole or in part without premium or penalty; provided that (i) such notice must be received
by the Swing Line Lender and the Administrative Agent not later than 1:00 p.m. 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 SEI,
the applicable Borrower shall make such prepayment and the payment amount specified in such notice
shall be due and payable on the date specified therein.

     (c) If for any reason the Total Outstandings at any time exceed the Aggregate Commitments then
in effect, the Borrowers shall immediately prepay Loans and/or Cash Collateralize the L/C
Obligations, as SEI shall select, in an aggregate amount equal to such excess; provided,
however, that no Borrower shall be required to Cash Collateralize the L/C Obligations
pursuant to this Section 2.05(c) unless after the prepayment in full of the Loans the Total
Outstandings exceed the Aggregate Commitments then in effect.

     2.06 Termination or Reduction of Commitments. The Borrowers may, upon notice by SEI to the
Administrative Agent, terminate the Aggregate Commitments, or from time to time permanently reduce
the Aggregate Commitments (including, as determined by SEI, the PR Borrowing Limit);
provided that (i) any such notice shall be received by the Administrative

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Agent not later than 11:00 a.m. five Business Days prior to the date of termination or reduction, (ii) any such
partial reduction shall be in an aggregate amount of $5,000,000 or any whole multiple of $1,000,000
in excess thereof, (iii) the Borrowers shall not terminate or reduce the Aggregate Commitments if,
after giving effect thereto and to any concurrent prepayments hereunder, the Total Outstandings
would exceed the Aggregate Commitments, and (iv) if, after giving effect to any reduction of the
Aggregate Commitments, the Letter of Credit Sublimit, the Swing Line Sublimit or the PR Borrowing
Limit exceeds the amount of the Aggregate Commitments, such sublimit or PR Borrowing Limit shall be
automatically reduced by the amount of such excess. The Administrative Agent will promptly notify
the Lenders of any such notice of termination or reduction of the Aggregate Commitments. Any
reduction of the Aggregate Commitments shall be applied to the Commitment of each Lender according
to its Applicable Percentage. All fees accrued until the effective date of any termination of the
Aggregate Commitments shall be paid on the effective date of such termination.

     2.07 Repayment of Loans.

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

     (b) The Borrowers shall repay each Swing Line Loan on the earlier to occur of (i) the date
that is 10 Business Days after the advance of such Swing Line Loan and (ii) the Maturity Date.

     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; (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; (iii) each Swing Line 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 any Borrower under any
Loan Document is not paid when due (after giving effect to any applicable grace periods),
whether at stated maturity, by acceleration or otherwise, then upon the request of 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.

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     (iii) Upon the request of the Required Lenders, while any Event of Default exists, the
Borrowers shall pay interest on the principal amount of all outstanding Obligations
hereunder at a fluctuating interest rate per annum at all times equal to the Default Rate to
the fullest extent permitted by applicable Laws.

     (iv) 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 (h) and (i) of Section
2.03:

     (a) Commitment Fee. The Borrowers shall pay to the Administrative Agent for the
account of each Lender in accordance with its Applicable Percentage, a commitment fee equal to the
Applicable Rate times the actual daily amount by which the Aggregate Commitments exceed the
sum of (i) the Outstanding Amount of Committed Loans and (ii) the Outstanding Amount of
L/C Obligations, subject to adjustment as provided in Section 2.19. For purposes of
clarification, the parties hereto acknowledge that the Outstanding Amount of Swing Line Loans shall
not be considered a component of clause (i) of the determination of such commitment fee. 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 IV is not met, and shall be due and
payable quarterly in arrears on the last Business Day of each fiscal quarter of SEI, commencing
with the first such date to occur after the Effective Date, and on the Maturity Date. The
commitment fee shall be calculated quarterly in arrears, and if there is any change in the
Applicable Rate during any quarter, the actual daily amount shall be computed and multiplied by the
Applicable Rate separately for each period during such quarter that such Applicable Rate was in
effect.

(b) Other Fees. (i) The Borrowers shall pay to the Arranger and the Administrative
Agent for their own respective accounts fees in the amounts and at the times specified in
the Fee Letter. Such fees shall be fully earned when paid and shall not be refundable for
any reason whatsoever.

     (ii) The Borrowers shall pay to the Lenders such fees as shall have been separately
agreed upon in writing in the amounts and at the times so specified. Such fees shall be
fully earned when paid and shall not be refundable for any reason whatsoever.

     2.10 Computation of Interest and Fees; Retroactive Adjustments of Applicable Rate. All
computations of interest for Base Rate Loans (including Base Rate Loans determined by reference to
the Eurodollar 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

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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 manifest error of the amount of the Credit Extensions made by the Lenders to the
Borrowers 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 Borrowers 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 Borrowers shall execute and deliver to such Lender
(through the Administrative Agent) a Note, which shall evidence such Lender’s Loans in addition to
such accounts or records. Each Lender may attach schedules to its 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 and Swing
Line 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 manifest error.

     2.12 Payments Generally; Administrative Agent’s Clawback.

     (a) General. All payments to be made by the Borrowers shall be made without condition
or deduction for any counterclaim, defense, recoupment or setoff. Except as otherwise expressly
provided herein, all payments by the Borrowers 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 2:00 p.m. shall be deemed received on the next succeeding Business Day and any
applicable interest or fee shall continue to accrue. If any payment to be made by any 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.

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(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 applicable 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 applicable
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 applicable 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, plus any administrative processing or
similar fees customarily charged by the Administrative Agent in connection with the
foregoing, and (B) in the case of a payment to be made by a Borrower, the interest rate
applicable to Base Rate Loans. If the applicable 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 applicable Borrower the amount of such
interest paid by such 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 Committed Loan included in such Committed Borrowing. Any payment
by any Borrower shall be without prejudice to any claim such 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 SEI or another Borrower prior to the
date on which any payment is due to the Administrative Agent for the account of the Lenders,
or any of them, or the L/C Issuer hereunder that the applicable Borrower will not make such
payment, the Administrative Agent may assume that the applicable Borrower has made such
payment on such date in accordance herewith and may, in reliance upon such assumption,
distribute to the applicable Lenders or the L/C Issuer, as the case may be, the amount due.
In such event, if the applicable Borrower has not in fact made such payment, then each of
the applicable Lenders or the L/C Issuer, as the case may be, severally agrees to repay to
the Administrative Agent forthwith on demand the amount so distributed to such Lender or the
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.

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     A notice of the Administrative Agent to any Lender or any 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 applicable
Borrower by the Administrative Agent because the conditions to the applicable Credit Extension set
forth in Article IV 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, to fund participations in Letters of Credit and Swing Line Loans and to make
payments pursuant to Section 10.04(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
10.04(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 under
Section 10.04(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 the participations in L/C Obligations or in Swing Line 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 Committed Loans and subparticipations in L/C Obligations and Swing Line 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 or on behalf of any Borrower pursuant to and in accordance with the express terms of
this Agreement (including the application of funds arising from the existence of a
Defaulting Lender), (y) the application of Cash Collateral provided for in

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Section 2.18 or (z) 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 Swing Line Loans to any assignee or participant, other than to SEI or any
Subsidiary thereof (as to which the provisions of this Section shall apply).

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

     2.14 Increase in Commitments. SEI may at any time and from time to time, by delivery to the
Administrative Agent of a written notice signed by a Responsible Officer of SEI (whereupon the
Administrative Agent shall promptly deliver a copy to each of the Lenders), request the addition of
a new tranche of term loans (an “Incremental Term Facility”) or an increase in the
Aggregate Commitments (an “Incremental Revolving Commitment”) or a combination thereof;
provided that at the time of any such request and upon the effectiveness of the Incremental
Facility Amendment referred to below, (i) no Default or Event of Default shall exist, and (ii) SEI
shall be in pro forma compliance with the financial covenants set forth in Section 7.01 (as
demonstrated in a Compliance Certificate executed by a Responsible Officer of SEI). Each
Incremental Term Facility or Incremental Revolving Commitment shall be in an aggregate principal
amount not less than $15,000,000 (or such lesser amount as may be acceptable to the Administrative
Agent), and the aggregate principal amount of all such Incremental Term Facilities and Incremental
Revolving Commitments shall not exceed $50,000,000. Each Incremental Term Facility (a) shall rank
pari passu or junior in right of payment and of security with the Loans (and any
such Incremental Term Facility which is junior in right of payment shall have customary second
lien, subordination, standstill and other provisions reasonably acceptable to the Administrative
Agent), (b) shall not mature earlier than the Maturity Date, (c) shall have a weighted average life
and contain terms as to prepayments and amortization that are acceptable to the Administrative
Agent, and (d) shall not contain additional or different covenants or financial covenants which are
more restrictive in any material respect than the covenants in the Loan Documents at the time of
the incurrence of such Incremental Term Facility unless either such covenants benefit all of the
Lenders or are otherwise consented to by the Administrative Agent. Any such notice shall set forth
the amount and terms of the relevant Incremental Term Facility or Incremental Revolving Commitment
requested by SEI and to be agreed by any Lenders or Additional Lenders (as herein defined) under
such Incremental Term Facility or providing such Incremental Revolving Commitment. SEI may arrange
for one or more banks or other financial institutions or, in the case of an Incremental Term
Facility, institutional investors, each of which shall be reasonably satisfactory to the
Administrative Agent and, with respect only to Incremental Revolving Commitments, the Swing Line
Lender and the L/C Issuer (any such bank or other financial institution being called an
“Additional Lender”), to extend commitments under the Incremental Term Facility or provide
a portion of the Incremental Revolving Commitment, and each existing Lender shall be afforded an
opportunity, but shall not be required, to provide a portion of any such Incremental Term Facility
or provide a portion of such Incremental Revolving Commitment. Commitments in respect of any
Incremental Term Facility or any Incremental Revolving Commitment shall become Commitments under
this Agreement, and each Additional Lender shall become a Lender under this Agreement, pursuant

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to an amendment (an “Incremental Facility Amendment”) to this Agreement and, as appropriate,
the other Loan Documents, executed by the Borrowers, each existing Lender agreeing to provide such
Commitment, if any, each Additional Lender, if any, and the Administrative Agent. An Incremental
Facility Amendment may, without the consent of any other Lenders, effect such amendments to this
Agreement and the other Loan Documents to the extent (but only to the
extent) necessary to effect the provisions of this Section. The effectiveness of any
Incremental Facility Amendment shall be subject to the satisfaction on the date thereof of each of
the conditions set forth in Section 4.02 (it being understood that all references to “date
of the applicable Credit Extension” in such Section 4.02 shall be deemed to refer to the
effective date of such Incremental Facility Amendment). The proceeds of any Incremental Term
Facility or any Incremental Revolving Commitment will be used for working capital, capital
expenditures, acquisitions and other general corporate purposes not in contravention of any Law or
of any Loan Document. No Incremental Revolving Commitment shall increase the sublimit for Letters
of Credit or Swing Line Loans without the consent of the L/C Issuer or the Swing Line Lender, as
applicable. This Section shall supersede any provisions in Sections 2.13 or 10.01
to the contrary.

     2.15 Joint and Several Borrowers.

     (a) Notwithstanding any other provision of this Agreement, except as hereinafter provided,
each Borrower shall be jointly and severally liable as primary obligor and not merely as surety for
repayment of all Obligations of any PR Borrower arising under the Loan Documents. Such joint and
several liability shall apply to each Borrower regardless of whether (i) any Loan was only
requested on behalf of or made to another Borrower or the proceeds of any Loan were used only by
another Borrower, (ii) any interest rate election was made only on behalf of another Borrower, or
(iii) any indemnification obligation or any other obligation arose only as a result of the actions
of another Borrower; provided the liability of each of the PR Borrowers under this
Agreement, the Notes and the other Loan Documents shall be limited to the Obligations of the PR
Borrowers. Each Borrower shall retain any right of contribution arising under applicable law
against the other Borrowers as the result of the satisfaction of any Obligations; provided,
such rights are hereby fully subordinated in all respects to the payment in full of the
Obligations, no Borrower shall assert such right of contribution against any other Borrower until
93 days after the Facility Termination Date, and each Borrower shall hold in trust and separate
from its other property any funds or other property received on account of any such right of
contribution and pay the same over to the Administrative Agent for application to the Obligations
until payment in full of the Obligations.

     (b) Without limiting the foregoing provisions of this Section 2.15, SEI hereby
irrevocably, absolutely and unconditionally guarantees the full and punctual payment or performance
when due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or
otherwise, of all Obligations of each of the PR Borrowers, whether owing to the Administrative
Agent, the Collateral Agent, any Lender or any other Senior Secured Party. This guarantee
constitutes a guaranty of payment and not of collection.

     (c) Without limiting the foregoing provisions of this Section 2.15, each PR Borrower
hereby irrevocably, absolutely and unconditionally guarantees the full and punctual payment or
performance when due, whether at stated maturity, by required prepayment, declaration,
acceleration, demand or otherwise, of all Obligations of the other PR Borrower, whether owing

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to the Administrative Agent, the Collateral Agent, any Lender or any other Senior Secured Party. This
guarantee constitutes a guaranty of payment and not of collection.

     (d) It is the intention of the parties that with respect to each Borrower, its obligations
under Sections 2.15(a), (b) and (c) shall be absolute, unconditional and
irrevocable irrespective of:

     (i) any lack of validity, legality or enforceability of this Agreement, any Note, or
any other Loan Document as to any other Borrowers;

     (ii) the failure of the Administrative Agent, the Collateral Agent or any Lender:

     (A) to enforce any right or remedy against any other Borrower or any other
Person under the provisions of this Agreement, any Note, any other Loan Document or
otherwise, or

     (B) to exercise any right or remedy against any guarantor of, or Collateral
securing, any Obligations;

     (iii) any change in the time, manner or place of payment of, or in any other term of,
all or any of the Obligations, or any other extension, compromise or renewal of any
Obligations with respect to any other Borrower;

     (iv) any reduction, limitation, impairment or termination of any Obligations with
respect to any other Borrower or any other Person for any reason including any claim of
waiver, release, surrender, alteration or compromise, and shall not be subject to (and each
Borrower hereby waives any right to or claim of) any defense or setoff, counterclaim,
recoupment or termination whatsoever by reason of the invalidity, illegality,
nongenuineness, irregularity, compromise or unenforceability of, or any other event or
occurrence affecting, any Obligations with respect to any other Borrower;

     (v) any addition, exchange, release, surrender or nonperfection of any collateral, or
any amendment to or waiver or release or addition of, or consent to departure from, any
guaranty, held by the Administrative Agent, the Collateral Agent, any Lender or any holder
of any Note securing any of the Obligations; or

     (vi) any other circumstance which might otherwise constitute a defense available to, or
a legal or equitable discharge of, any other Borrower, any surety or any guarantor.

     (e) Each Borrower agrees that its joint and several liability hereunder shall continue to be
effective or be reinstated, as the case may be, if at any time any payment (in whole or in part) of
any of the Obligations is rescinded or must be restored by the Administrative Agent, the Collateral
Agent, any Lender or any holder of any Note, upon the insolvency, bankruptcy or reorganization of
any other Borrower as though such payment had not been made.

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     (f) Each Borrower hereby expressly waives: (i) notice of the Lenders’ acceptance of this
Agreement; (ii) notice of the existence or creation or non-payment of all or any of the
Obligations; (iii) notice of the release of any Borrower; (iv) presentment, demand, notice of
dishonor, protest, and all other notices whatsoever other than notices expressly provided for in
this Agreement or by applicable law; and (v) all diligence in collection or protection of or
realization upon the Obligations or any thereof, any obligation hereunder, or any security for or
guaranty of any of the foregoing.

     (g) No delay on the part of the Administrative Agent, the Collateral Agent or any Lender in
the exercise of any right or remedy shall operate as a waiver thereof, and no single or partial
exercise by the Administrative Agent, the Collateral Agent or any Lender of any right or remedy
shall preclude any other or further exercise thereof or the exercise of any other right or remedy.
No action of the Administrative Agent, the Collateral Agent or any Lender permitted hereunder shall
in any way affect or impair any of their rights or any of their obligations to any of the Borrowers
under this Agreement (except as otherwise waived, modified, or amended).

     (h) Until the Facility Termination Date, SEI hereby unconditionally subordinates all present
and future debts, liabilities or obligations now or hereafter owing to SEI (i) of any of the PR
Borrowers, to the payment in full of any Obligations of the PR Borrowers, (ii) of each Guarantor,
to the payment in full of the obligations of each such Guarantor under this Agreement or any of the
Loan Documents, and (iii) of each other Person now or hereafter constituting a Loan Party, to the
payment in full of the obligations of such Loan Party under this Agreement or any of the Loan
Documents. All amounts due under such subordinated debts, liabilities or obligations shall, upon
the occurrence and during the continuance of an Event of Default, be collected and, upon the
request of the Administrative Agent, be paid over forthwith to the Administrative Agent for the
benefit of the Administrative Agent, the Collateral Agent and the Lenders on account of the
Obligations or such other obligations, as applicable, and, after such request and pending such
payment, shall be held by SEI as agent and bailee of the Administrative Agent, the Collateral Agent
and the Lenders separate and apart from all other funds, property and accounts of SEI.

     2.16 SEI as Borrowing Agent. Because the operations and business activities of the Borrowers
are highly integrated and interdependent, at any particular time it is in the mutual best interest
of the Administrative Agent, the Lenders and the Borrowers for SEI, through one or more of its
Responsible Officers, to deliver all Requests for Credit Extension and all other such notices, and
to take all other action of a Responsible Officer in this Agreement or in any other Loan Document,
whether on behalf of SEI or any other Borrower, and to determine which of the Borrowers will
directly receive the proceeds of a Loan (subject to the PR Borrowing Limit). Each of the Borrowers
hereby directs the Administrative Agent to disburse the proceeds of each Loan as directed by SEI
through a Responsible Officer (such directions to be subject to approval of the Administrative
Agent in its discretion), and such distribution will, in all circumstances, be deemed to be made to
the Borrower to which such proceeds are directed (subject to the PR Borrowing Limit). Each
Borrower hereby irrevocably designates, appoints, authorizes and directs SEI (including each
Responsible Officer of SEI) to act on behalf of such Borrower for the purposes set forth in this Section 2.16, and to act on behalf of such Borrower for
purposes of giving notice to the Administrative Agent of requests for Borrowings, conversions,
continuations and for otherwise giving and receiving notices and certifications under this
Agreement or any

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other Loan Document and otherwise for taking all other action contemplated to be
taken by SEI (including each Responsible Officer of SEI) hereunder or under any other Loan
Document. Each Borrower further appoints SEI as its agent for any service of process. The
Administrative Agent is entitled to rely and act on the instructions of SEI, by and through any
Responsible Officer, on behalf of each Borrower. Without limiting the provisions of Section
10.04, each Borrower covenants and agrees to assume liability for and to protect, indemnify and
hold harmless the Administrative Agent, the Collateral Agent, the Lenders, the L/C Issuer and the
Swing Line Lender from any and all liabilities, obligations, damages, penalties, claims, causes of
action, costs, charges and expenses (including without limitation, reasonable attorneys’ fees),
which may be incurred by, imposed or asserted against the Administrative Agent, the Collateral
Agent, any Lender, the L/C Issuer or the Swing Line Lender, howsoever arising or incurred because
of, out of or in connection with the disbursements of Loans and Credit Extensions in accordance
with this Section 2.16; provided, that the liability of the Borrowers pursuant to
this indemnity shall not extend to any liability, obligation, damage, penalty, claim, cause of
action, cost, charge or expense of any Person determined by a court of competent jurisdiction by a
final and nonappealable judgment to have resulted from the gross negligence or willful misconduct
of the Administrative Agent, the Collateral Agent, any Lender, the L/C Issuer or the Swing Line
Lender. SEI shall maintain detailed accounting and records of all disbursements and payments made
to each Borrower with respect to proceeds of Loans. Not in any way in limitation of any other
provisions set forth herein, such books and records may be reviewed and copied by the
Administrative Agent at SEI’s expense at reasonable intervals and upon reasonable notice given by
the Administrative Agent to SEI.

     2.17 Removal of PR Borrowers. At any time and provided that no Default shall have occurred
and be continuing, upon at least two (2) Business Days’ written notice from SEI (effective upon
receipt) to the Administrative Agent prior to 11:00 a.m., which notice shall be irrevocable and
shall be in the form of Exhibit G hereto, SEI and the PR Borrowers may elect to remove the
PR Borrowers as Borrowers hereunder, so long as (a) such removal is of both PR Borrowers
simultaneously and (b) SEI shall expressly acknowledge and assume all Obligations of the PR
Borrowers outstanding at such time as primary obligor, and shall reaffirm its obligation for all
Obligations. From and after the effective date of such election, as specified in such notice in
accordance with the terms of this Section 2.17, (i) the PR Borrowers shall have no further
rights or privileges as Borrowers hereunder, (ii) the PR Borrowers shall have no further liability
for the payment of any amounts required to be paid by the PR Borrowers as borrowers hereunder or
under the Notes, (iii) each Responsible Officer shall without further action serve solely as the
representative of SEI for all purposes of the Loan Documents, and (iv) all references in the Loan
Documents to permitted, required or prohibited conduct of the “Borrowers” or the “PR Borrowers”
from and after such effective date shall be deemed to refer solely to SEI; provided, that
no such termination of the PR Borrowers’ status as Borrowers shall reduce or impair any obligation
or liability of the PR Borrowers arising as a result of (x) any representation, warranty or
certification made by or on behalf of either of them prior to or on such effective date under or
pursuant to any of the Loan Documents, (y) any representation, warranty, acknowledgement or
other undertaking of either of them contained in the election notice described above, or (z) any
indemnification obligations under Section 2.16 or 10.04 or otherwise arising from
or relating to any conduct of the PR Borrowers prior to such effective date, including the
application of any proceeds of Loans.

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     2.18 Cash Collateral.

     (a) Certain Credit Support Events. Upon the request of the Administrative Agent or
the L/C Issuer (i) if the L/C Issuer has honored any full or partial drawing request under any
Letter of Credit and such drawing has resulted in an L/C Borrowing, or (ii) if, as of the Letter of
Credit Expiration Date, any L/C Obligation for any reason remains outstanding, the Borrowers shall,
in each case, immediately Cash Collateralize the then Outstanding Amount of all L/C Obligations.
At any time that there shall exist a Defaulting Lender, immediately upon the request of the
Administrative Agent, the L/C Issuer or the Swing Line Lender, the Borrowers shall deliver to the
Administrative Agent Cash Collateral in an amount sufficient to cover all Fronting Exposure (after
giving effect to Section 2.19(a)(iv) and any Cash Collateral provided by the Defaulting
Lender).

     (b) Grant of Security Interest. All Cash Collateral (other than credit support not
constituting funds subject to deposit) shall be maintained in blocked, non-interest bearing deposit
accounts at Bank of America. The Borrower, and to the extent provided by any Lender, such Lender,
hereby grants to (and subjects to the control of) the Administrative Agent, for the benefit of the
Administrative Agent, the L/C Issuer and the Lenders (including the Swing Line Lender), a first
priority security interest in all such cash, deposit accounts and all balances therein, and all
other property so provided as collateral pursuant hereto, and in all proceeds of the foregoing, all
as security for the obligations to which such Cash Collateral may be applied pursuant to
Section 2.18(c). If at any time the Administrative Agent determines that Cash Collateral
is subject to any right or claim of any Person other than the Administrative Agent as herein
provided, or that the total amount of such Cash Collateral is less than the applicable Fronting
Exposure and other obligations secured thereby, the Borrowers or the relevant Defaulting Lender
will, promptly upon demand by the Administrative Agent, pay or provide to the Administrative Agent
additional Cash Collateral in an amount sufficient to eliminate such deficiency.

     (c) Application. Notwithstanding anything to the contrary contained in this Agreement,
Cash Collateral provided under any of this Section 2.18 or Sections 2.03,
2.04, 2.05, 2.19 or 8.02 in respect of Letters of Credit or Swing
Line Loans shall be held and applied to the satisfaction of the specific L/C Obligations, Swing
Line Loans, obligations to fund participations therein (including, as to Cash Collateral provided
by a Defaulting Lender, any interest accrued on such obligation) and other obligations for which
the Cash Collateral was so provided, prior to any other application of such property as may be
provided for herein.

     (d) Release. Cash Collateral (or the appropriate portion thereof)
provided to reduce Fronting Exposure or other obligations shall be released promptly following (i)
the elimination of the applicable Fronting Exposure or other obligations giving rise thereto (including by the
termination of Defaulting Lender status of the applicable Lender (or, as appropriate, its assignee
following compliance with Section 10.06(b)(vii))) or (ii) the Administrative Agent’s good
faith determination that there exists excess Cash Collateral; provided, however, (x) that
Cash Collateral furnished by or on behalf of a Loan Party shall not be released during the
continuance of a Default or Event of Default (and following application as provided in this
Section 2.18 may be otherwise applied in accordance with Section 8.03), and (y) the
Person providing Cash Collateral may direct the L/C Issuer or Swing Line Lender, as applicable, to
hold (and not release) such Cash Collateral to support future anticipated Fronting Exposure or
other obligations. The release referred to in this clause

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(d) is only with respect to such property constituting Cash Collateral and without prejudice to any other Lien conferred under the
Loan Documents.

     2.19 Defaulting Lenders.

     (a) Adjustments. Notwithstanding anything to the contrary contained in this
Agreement, if any Lender becomes a Defaulting Lender, then, until such time as that Lender is no
longer a Defaulting Lender, to the extent permitted by applicable Law:

     (i) Waivers and Amendments. That Defaulting Lender’s right to approve or
disapprove any amendment, waiver or consent with respect to this Agreement shall be
restricted as set forth in Section 10.01.

     (ii) Reallocation of Payments. Any payment of principal, interest, fees or
other amounts received by the Administrative Agent for the account of that Defaulting Lender
(whether voluntary or mandatory, at maturity, pursuant to Article VIII or otherwise,
and including any amounts made available to the Administrative Agent by that Defaulting
Lender pursuant to Section 10.08), shall be applied at such time or times as may be
determined by the Administrative Agent as follows: first, to the payment of any amounts
owing by that Defaulting Lender to the Administrative Agent hereunder; second, to the
payment on a pro rata basis of any amounts owing by that Defaulting Lender to the L/C Issuer
or Swing Line Lender hereunder; third, if so determined by the Administrative Agent or
requested by the L/C Issuer or Swing Line Lender, to be held as Cash Collateral for future
funding obligations of that Defaulting Lender of any participation in any Swing Line Loan or
Letter of Credit; fourth, as SEI may request (so long as no Default or Event of Default
exists), to the funding of any Loan in respect of which that Defaulting Lender has failed to
fund its portion thereof as required by this Agreement, as determined by the Administrative
Agent; fifth, if so determined by the Administrative Agent and the Borrower, to be held in a
non-interest bearing deposit account and released in order to satisfy obligations of that
Defaulting Lender to fund Loans under this Agreement; sixth, to the payment of any amounts
owing to the Lenders, the L/C Issuer or Swing Line Lender as a result of any judgment of a
court of competent jurisdiction obtained by any Lender, the L/C Issuer or Swing Line Lender
against that Defaulting Lender as a result of that Defaulting Lender’s breach of its
obligations under this Agreement; seventh, so long as no Default or Event of Default exists, to the payment of any amounts owing to the
Borrowers as a result of any judgment of a court of competent jurisdiction obtained by the
Borrowers against that Defaulting Lender as a result of that Defaulting Lender’s breach of
its obligations under this Agreement; and eighth, to that Defaulting Lender or as otherwise
directed by a court of competent jurisdiction; provided that if (x) such payment is
a payment of the principal amount of any Loans or L/C Borrowings in respect of which that
Defaulting Lender has not fully funded its appropriate share and (y) such Loans or L/C
Borrowings were made at a time when the conditions set forth in Section 4.02 were
satisfied or waived, such payment shall be applied solely to pay the Loans of, and L/C
Borrowings owed to, all non-Defaulting Lenders on a pro rata basis prior to being applied to
the payment of any Loans of, or L/C Borrowings owed to, that Defaulting Lender. Any
payments, prepayments or other amounts paid or payable to a Defaulting Lender that are
applied (or held) to pay amounts owed by a Defaulting Lender

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or to post Cash Collateral pursuant to this Section 2.19(a)(ii) shall be deemed paid to and redirected by that
Defaulting Lender, and each Lender irrevocably consents hereto.

     (iii) Certain Fees. That Defaulting Lender (A) shall not be entitled to
receive any commitment fee pursuant to Section 2.09(a) for any period during which
that Lender is a Defaulting Lender (and the Borrowers shall not be required to pay any such
fee that otherwise would have been required to have been paid to that Defaulting Lender) and
(B) shall be limited in its right to receive Letter of Credit Fees as provided in
Section 2.03(h)

     (iv) Reallocation of Applicable Percentages to Reduce Fronting Exposure.
During any period in which there is a Defaulting Lender, for purposes of computing the
amount of the obligation of each non-Defaulting Lender to acquire, refinance or fund
participations in Letters of Credit or Swing Line Loans pursuant to Sections 2.03
and 2.04, the “Applicable Percentage” of each non-Defaulting Lender shall be
computed without giving effect to the Commitment of that Defaulting Lender;
provided, that, (i) each such reallocation shall be given effect only if, at the
date the applicable Lender becomes a Defaulting Lender, no Default or Event of Default
exists; and (ii) the aggregate obligation of each non-Defaulting Lender to acquire,
refinance or fund participations in Letters of Credit and Swing Line Loans shall not exceed
the positive difference, if any, of (1) the Commitment of that non-Defaulting Lender
minus (2) the aggregate Outstanding Amount of the Committed Loans of that Lender.

     (b) Defaulting Lender Cure. If the Borrowers, the Administrative Agent, Swing Line
Lender and the L/C Issuer agree in writing in their sole discretion that a Defaulting Lender should
no longer be deemed to be a Defaulting Lender, the Administrative Agent will so notify the parties
hereto, whereupon as of the effective date specified in such notice and subject to any conditions
set forth therein (which may include arrangements with respect to any Cash Collateral), that Lender
will, to the extent applicable, purchase that portion of outstanding Loans of the other Lenders or
take such other actions as the Administrative Agent may determine to be necessary to cause the
Committed Loans and funded and unfunded participations in Letters of Credit and Swing Line Loans to
be held on a pro rata basis by the Lenders in accordance with their Applicable Percentages (without giving effect to Section 2.19(a)(iv)), whereupon
that Lender will cease to be a Defaulting Lender; provided that no adjustments will be made
retroactively with respect to fees accrued or payments made by or on behalf of the Borrowers while
that Lender was a Defaulting Lender; and provided, further, that except to the extent
otherwise expressly agreed by the affected parties, no change hereunder from Defaulting Lender to
Lender will constitute a waiver or release of any claim of any party hereunder arising from that
Lender’s having been a Defaulting Lender.

ARTICLE III.

TAXES, YIELD PROTECTION AND ILLEGALITY

     3.01 Taxes.

     (a) Payments Free of Taxes; Obligation to Withhold; Payments on Account of Taxes.

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     (i) Any and all payments by or on account of any obligation of the Borrowers hereunder
or under any other Loan Document shall to the extent permitted by applicable Laws be made
free and clear of and without reduction or withholding for any Taxes. If, however,
applicable Laws require any Borrower or the Administrative Agent to withhold or deduct any
Tax, such Tax shall be withheld or deducted in accordance with such Laws as determined by
such Borrower or the Administrative Agent, as the case may be, upon the basis of the
information and documentation to be delivered pursuant to subsection (e) below.

     (ii) If any Borrower or the Administrative Agent shall be required by the Code to
withhold or deduct any Taxes, including both United States Federal backup withholding and
withholding taxes, from any payment, then (A) the Administrative Agent shall withhold or
make such deductions as are determined by the Administrative Agent to be required based upon
the information and documentation it has received pursuant to subsection (e) below, (B) the
Administrative Agent shall timely pay the full amount withheld or deducted to the relevant
Governmental Authority in accordance with the Code, and (C) to the extent that the
withholding or deduction is made on account of Indemnified Taxes or Other Taxes, the sum
payable by the Borrowers shall be increased as necessary so that after any required
withholding or the making of all required deductions (including deductions applicable to
additional sums payable under this Section) the Administrative Agent, the Collateral Agent,
any Lender or L/C Issuer, as the case may be, receives an amount equal to the sum it would
have received had no such withholding or deduction been made..

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

     (c) Tax Indemnifications.

     (i) Without limiting the provisions of subsection (a) or (b) above, each Borrower
shall, and each Borrower does hereby, indemnify the Administrative Agent, the Collateral
Agent, each Lender and the L/C Issuer, and shall make payment in respect thereof 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) withheld or deducted by any Borrower or the
Administrative Agent or paid by the Administrative Agent, the Collateral Agent, such Lender
or the 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 any such payment or liability delivered to SEI by a Lender
or the 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 the L/C Issuer, shall be conclusive absent
manifest error.

     (ii) Without limiting the provisions of subsection (a) or (b) above, each Lender and
the L/C Issuer shall, and does hereby, indemnify the Borrowers, the

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     Administrative Agent and the Collateral Agent, and shall make payment in respect thereof within 10 days after demand
therefor, against any and all Taxes and any and all related losses, claims, liabilities,
penalties, interest and expenses (including the fees, charges and disbursements of any
counsel for the Borrowers or the Administrative Agent) incurred by or asserted against any
Borrower or the Administrative Agent by any Governmental Authority as a result of the
failure by such Lender or the L/C Issuer, as the case may be, to deliver, or as a result of
the inaccuracy, inadequacy or deficiency of, any documentation required to be delivered by
such Lender or the L/C Issuer, as the case may be, to SEI or the Administrative Agent
pursuant to subsection (e). Each Lender and the L/C Issuer hereby authorizes the
Administrative Agent and the Collateral Agent to set off and apply any and all amounts at
any time owing to such Lender or the L/C Issuer, as the case may be, under this Agreement or
any other Loan Document against any amount due to the Administrative Agent under this clause
(ii). The agreements in this clause (ii) shall survive the resignation and/or replacement
of the Administrative Agent or the Collateral Agent, any assignment of rights by, or the
replacement of, a Lender or the L/C Issuer, the termination of the Aggregate Commitments and
the repayment, satisfaction or discharge of all other Obligations.

     (d) Evidence of Payments. Upon request by SEI or the Administrative Agent, as the
case may be, after any payment of Taxes by any Borrower or by the Administrative Agent to a
Governmental Authority as provided in this Section 3.01, SEI shall deliver to the
Administrative Agent or the Administrative Agent shall deliver to SEI, as the case may be, the
original or a certified copy of a receipt issued by such Governmental Authority evidencing such
payment, a copy of any return required by Laws to report such payment or other evidence of such
payment reasonably satisfactory to SEI or the Administrative Agent, as the case may be.

     (e) Status of Lenders; Tax Documentation.

     (i) Each Lender shall deliver to SEI and to the Administrative Agent, at the time or
times prescribed by applicable Laws or when reasonably requested by SEI or the
Administrative Agent, such properly completed and executed documentation prescribed by
applicable Laws or by the taxing authorities of any jurisdiction and such other reasonably
requested information as will permit the Borrowers or the Administrative Agent, as the case
may be, to determine (A) whether or not payments made hereunder or under any other Loan
Document are subject to Taxes, (B) if applicable, the required rate of withholding or
deduction, and (C) such Lender’s entitlement to any available exemption from, or reduction
of, applicable Taxes in respect of all payments to be made to such Lender by the Borrowers
pursuant to this Agreement or otherwise to establish such Lender’s status for withholding
tax purposes in the applicable jurisdiction.

     (ii) Without limiting the generality of the foregoing, if any Borrower is resident for
tax purposes in the United States:

     (A) Any Lender that is a “United States person” within the meaning of Section
7701(a)(30) of the Code shall deliver to SEI and the Administrative Agent executed
originals of Internal Revenue Service Form W-9 or such other documentation or
information prescribed by applicable Laws or reasonably

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requested by SEI or the Administrative Agent as will enable the Borrowers or the Administrative Agent, as
the case may be, to determine whether or not such Lender is subject to backup
withholding or information reporting requirements; and

     (B) Each Foreign Lender that is entitled under the Code or any applicable
treaty to an exemption from or reduction of withholding tax with respect to payments
hereunder or under any other Loan Document shall deliver to SEI 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 SEI or
the Administrative Agent, but only if such Foreign Lender is legally entitled to do
so), whichever of the following is applicable:

     (I) executed originals 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) executed originals of Internal Revenue Service Form W-8ECI,

     (III) executed originals of Internal Revenue Service Form W-8IMY and
all required supporting documentation,

     (IV) 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 any 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) executed originals of Internal Revenue
Service Form W-8BEN, or

     (V) executed originals of any other form prescribed by applicable Laws
as a basis for claiming exemption from or a reduction in United States
Federal withholding tax together with such supplementary documentation as
may be prescribed by applicable Laws to permit SEI or the Administrative
Agent to determine the withholding or deduction required to be made.

     (iii) Each Lender shall promptly (A) notify SEI and the Administrative Agent of any
change in circumstances which would modify or render invalid any claimed exemption or
reduction, and (B) take such steps as shall not be materially disadvantageous to it, in the
reasonable judgment of such Lender, and as may be reasonably necessary (including the
re-designation of its Lending Office) to avoid any requirement of applicable Laws of any
jurisdiction that SEI or the Administrative Agent make any withholding or deduction for
taxes from amounts payable to such Lender.

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     (f) Treatment of Certain Refunds. Unless required by applicable Laws, at no time
shall the Administrative Agent or the Collateral Agent have any obligation to file for or otherwise
pursue on behalf of a Lender or the L/C Issuer, or have any obligation to pay to any Lender or the
L/C Issuer, any refund of Taxes withheld or deducted from the funds paid for the account of such
Lender or the L/C Issuer, as the case may be. If the Administrative Agent, the Collateral Agent,
any Lender or the 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 a Borrower or with respect to which
a Borrower has paid additional amounts pursuant to this Section 3.01, it shall pay to the
applicable Borrower an amount equal to such refund (but only to the extent of indemnity payments
made, or additional amounts paid, by such Borrower under this Section 3.01 with respect to
the Taxes or Other Taxes giving rise to such refund), net of all out-of-pocket expenses incurred by
the Administrative Agent, the Collateral Agent, such Lender or the 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 such Borrower, upon the request of the
Administrative Agent, the Collateral Agent, such Lender or the L/C Issuer, agrees to repay the
amount paid over to such Borrower (plus any penalties, interest or other charges imposed by the
relevant Governmental Authority) to the Administrative Agent, the Collateral Agent, such Lender or
the L/C Issuer in the event the Administrative Agent, the Collateral Agent, such Lender or the L/C
Issuer is required to repay such refund to such Governmental Authority. This subsection shall not
be construed to require the Administrative Agent, the Collateral Agent, any Lender or the L/C Issuer to make available its tax returns
(or any other information relating to its taxes that it deems confidential) to any 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 Loans whose interest is determined by reference to the Eurodollar
Rate, 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 SEI through the Administrative Agent, (i) any obligation of such Lender to make or continue
Eurodollar Rate Loans or to convert Base Rate Committed Loans to Eurodollar Rate Loans shall be
suspended, and (ii) if such notice asserts the illegality of such Lender making or maintaining Base
Rate Loans the interest rate on which is determined by reference to the Eurodollar Rate component
of the Base Rate, the interest rate on which Base Rate Loans of such Lender shall, if necessary to
avoid such illegality, be determined by the Administrative Agent without reference to the
Eurodollar Rate component of the Base Rate, in each case until such Lender notifies the
Administrative Agent and SEI that the circumstances giving rise to such determination no longer
exist. Upon receipt of such notice, (x) each Borrower shall, upon demand to SEI 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 (the interest rate on which Base Rate Loans of such Lender
shall, if necessary to avoid such illegality, be determined by the Administrative Agent without
reference to the Eurodollar Rate component of the Base Rate), 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 and (y) if such notice asserts the illegality of such Lender determining or
charging interest rates based upon the

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Eurodollar Rate, the Administrative Agent shall during the period of such suspension compute the Base Rate applicable to such Lender without reference to the
Eurodollar Rate component thereof until the Administrative Agent is advised in writing by such
Lender that it is no longer illegal for such Lender to determine or charge interest rates based
upon the Eurodollar Rate. Upon any such prepayment or conversion, the Borrowers shall also pay
accrued interest on the amount so prepaid or converted. Each Lender represents and warrants that
as of the Effective Date there is no basis for such Lender to invoke the provisions of this
Section 3.02.

     3.03 Inability to Determine Rates. If the Required Lenders determine after the Effective Date
that for any reason in connection with any request for a Eurodollar Rate Loan, a Base Rate Loan
that bears interest at the Eurodollar Rate 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 in connection with an existing or proposed Base 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 SEI and each
Lender. Thereafter, (x) the obligation of the Lenders to make or maintain Eurodollar Rate Loans
shall be suspended, and (y) in the event of a determination described in the preceding sentence
with respect to the Eurodollar Rate component of the Base Rate, the utilization of the Eurodollar
Rate component in determining the Base Rate shall be suspended, in each case until the
Administrative Agent (upon the instruction of the Required Lenders) revokes such notice. Upon
receipt of such notice, SEI 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 Committed Borrowing of Base Rate Loans in the amount specified
therein.

     3.04 Increased Costs; Reserves on Eurodollar Rate Loans.

     (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 the L/C Issuer;

     (ii) subject any Lender or the 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 Loan made by it, or change the basis of taxation of payments to such Lender
or the 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 the L/C Issuer); or

     (iii) impose on any Lender or the 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;

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and the result of any of the foregoing shall be to increase the cost to such
Lender of making or maintaining any Loan the interest on which is determined by
reference to the Eurodollar Rate (or of maintaining its obligation to make any such Loan),
or to increase the cost to such Lender or the 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 the L/C Issuer
hereunder (whether of principal, interest or any other amount) then, upon request of such Lender
or the L/C Issuer, the Borrowers will pay to such Lender or the L/C Issuer, as the case may be, such
additional amount or amounts as will compensate such Lender or the L/C Issuer, as the case may be, for
such additional costs incurred or reduction suffered.

     (b) Capital Requirements. If any Lender or the L/C Issuer determines that any
Change in Law affecting such Lender or the L/C Issuer or any Lending Office of such
Lender or such Lender’s or the 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
the L/C Issuer’s capital or on the capital of such Lender’s or the 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 the L/C Issuer, to a level below that which such Lender or the L/C Issuer or such
Lender’s or the L/C Issuer’s holding company could have achieved but for such Change in Law (taking into
consideration such Lender’s or the L/C Issuer’s policies and the policies of such Lender’s or the
L/C Issuer’s holding company with respect to capital adequacy), then from time to time the Borrowers
will pay to such Lender or the L/C Issuer, as the case may be, such additional amount or amounts as will
compensate such Lender or the L/C Issuer or such Lender’s or the L/C Issuer’s holding company for any such reduction suffered.

     (c) Certificates for Reimbursement. A certificate of a Lender or the L/C Issuer
setting forth the amount or amounts necessary to compensate such Lender or the
L/C Issuer or its holding company, as the case may be, as specified in subsection
(a) or (b) of this Section and delivered to SEI shall be conclusive absent manifest
error. Each applicable Borrower shall pay such Lender or the 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 the L/C Issuer
to demand compensation pursuant to the foregoing provisions of this Section shall
not constitute a waiver of such Lender’s or the L/C Issuer’s right to demand such
compensation, provided that no Borrower shall be required to compensate a Lender or
the L/C Issuer pursuant to the foregoing provisions of this Section 3.04 for any
increased costs incurred or reductions suffered more than ninety (90) days prior to
the date that such Lender or the L/C Issuer, as the case may be, notifies SEI of
the Change in Law giving rise to such increased costs or reductions and of such Lender’s or
the 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 ninety (90)
day period referred to above shall be extended to include the period of retroactive effect thereof).

     (e) Reserves on Eurodollar Rate Loans. The Borrowers 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

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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 in good faith, which determination shall be conclusive), which shall be due and payable
on each date on which interest is payable on such Loan, provided SEI shall have received at
least 10 days’ prior notice (with a copy to the Administrative Agent) of such additional interest
from such Lender. 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.

     3.05 Compensation for Losses. Upon demand of any Lender (with a copy to the
Administrative Agent) from time to time, each 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 any 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 SEI on behalf of such 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 a Borrower pursuant to Section 10.13;

including any loss or expense arising from the liquidation or reemployment of funds obtained by it
to maintain such Loan or from fees payable to terminate the deposits from which such funds were
obtained. Each Borrower shall also pay any customary administrative fees charged by such Lender in
connection with the foregoing.

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

     3.06 Mitigation Obligations; Replacement of Lenders.

     (a) Designation of a Different Lending Office. If any Lender requests
compensation under Section 3.04, or any Borrower is required to pay any additional amount
to any Lender, the L/C Issuer, or any Governmental Authority for the account of any Lender or the
L/C Issuer pursuant to Section 3.01, or if any Lender gives a notice pursuant to
Section 3.02, then such Lender or the L/C Issuer shall, as applicable, 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 or the L/C Issuer, 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 or the L/C Issuer, as the case may
be, to any unreimbursed cost or expense and would not

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otherwise be disadvantageous to such Lender or the L/C Issuer, as the case may be. The
Borrowers hereby agree to pay all reasonable costs and expenses incurred by any Lender or the L/C
Issuer in connection with any such designation or assignment.

     (b) Replacement of Lenders. If (i) any Lender (x) is subject to Section
3.02 and has not designated a different Lending Office for funding or booking its Loans
hereunder or assigned its rights and obligations hereunder to another of its offices, branches or
affiliates or otherwise eliminated the need for the notice pursuant to Section 3.02 within
30 days of giving notice pursuant to Section 3.02 or (y) requests compensation under
Section 3.04, or (ii) if any 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, SEI may replace such Lender in accordance with Section 10.13.

     3.07 Survival. All of the Borrowers’ obligations under this Article III shall
survive termination of the Aggregate Commitments, repayment of all other Obligations hereunder and
resignation of the Administrative Agent and the Collateral Agent.

ARTICLE IIIA.

SECURITY

     3A.01 Security. As security for the full and timely payment and performance of all
Obligations, SEI shall, and shall cause all other Loan Parties to, on or before the Effective Date,
do or cause to be done all things necessary in the opinion of the Administrative Agent and the
Collateral Agent, and their counsel, to grant to the Collateral Agent or the Administrative Agent,
as applicable, for the benefit of the Senior Secured Parties a duly perfected first priority
security interest in all Collateral subject to no prior Lien or other encumbrance or restriction on
transfer other than Permitted Liens. Without limiting the foregoing, and to the extent not
previously delivered under the Original Agreement, the First Amended and Restated Credit Agreement
or the Existing Agreement or the loan documents associated therewith, SEI and each Subsidiary
having rights in any Subsidiary Securities shall on the Effective Date deliver to the Collateral
Agent, in form and substance reasonably acceptable to the Collateral Agent, (A) a Pledge Agreement
which shall pledge to the Collateral Agent for the benefit of the Senior Secured Parties (i) 65% of
the Voting Securities of each Direct Foreign Subsidiary (or if SEI and its Subsidiaries shall own
less than 65%, then all of the Voting Securities owned by them) and 100% of the other Subsidiary
Securities of such Direct Foreign Subsidiary, and (ii) except with respect to those Subsidiaries
set forth in Schedule 3A.01, all of the Subsidiary Securities of all Domestic Subsidiaries
and all Excluded Subsidiaries, (B) if such Subsidiary Securities are in the form of certificated
securities, such certificated securities (including corrected certificates with respect to any
certificated securities delivered pursuant to the Original Agreement, the First Amended and
Restated Credit Agreement or the Existing Agreement or the loan documents associated therewith that
require updating to accurately reflect the appropriate information), together with undated stock
powers or other appropriate transfer documents endorsed in blank pertaining thereto, (C) if such
Subsidiary Securities do not constitute securities and the Subsidiary has not elected to have such
interests treated as securities under Article 8 of the Uniform Commercial Code, unless waived by
the Collateral Agent in its discretion, a control agreement (containing the provisions described in
Section 6.19(d)) from the Registrar of such

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Subsidiary Securities and (D) Uniform Commercial Code financing statements reflecting the Lien
in favor of the Collateral Agent on such Subsidiary Securities, each in form and substance
acceptable to the Collateral Agent, and shall take such further action and deliver or cause to be
delivered such further documents as required by the Security Instruments or otherwise as the
Collateral Agent may request to effect the transactions contemplated by this Article IIIA.
SEI shall pledge, and shall cause each applicable Subsidiary to pledge, to the Collateral Agent for
the benefit of the Senior Secured Parties (and as appropriate to reaffirm its prior pledge of) all
of the Pledged Interests of any Domestic Subsidiary and each Direct Foreign Subsidiary acquired or
created after the Effective Date (including any Subsidiary becoming a Domestic Subsidiary or Direct
Foreign Subsidiary) and to deliver to the Collateral Agent all of the documents and instruments in
connection therewith as are required pursuant to the terms of Section 6.19 and of the
Security Instruments. To the extent any of the Subsidiaries set forth in Schedule 3A.01
shall at any time prior to the Facility Termination Date be capable of being pledged, SEI will, and
will cause all applicable Subsidiaries to, deliver a Pledge Agreement or a Pledge Agreement
Supplement, as the case may be, pledging the Subsidiary Securities of such Subsidiary.

     3A.02 Further Assurances. At the request of the Administrative Agent or the Collateral
Agent, SEI will or will cause all other Loan Parties, as the case may be, to execute, by its duly
authorized officers, alone or with the Collateral Agent, any certificate, instrument, financing
statement, control agreement, statement or document, or to procure any such certificate,
instrument, statement or document, or to take such other action (and pay all connected costs) which
the Collateral Agent or the Administrative Agent reasonably deems necessary from time to time to
create, continue or preserve the liens and security interests in Collateral (and the perfection and
priority thereof) of the Collateral Agent contemplated hereby and by the other Loan Documents and
specifically including all Collateral acquired by SEI or any other Loan Party after the Effective
Date. The Collateral Agent is hereby irrevocably authorized to execute and file or cause to be
filed, with or if permitted by applicable law without the signature of SEI or any other Loan Party
appearing thereon, all Uniform Commercial Code financing statements reflecting SEI or any other
Loan Party as “debtor” and the Collateral Agent as “secured party”, and continuations thereof and
amendments thereto, as the Collateral Agent reasonably deems necessary or advisable to give effect
to the transactions contemplated hereby and by the other Loan Documents.

     3A.03 Information Regarding Collateral. Each Borrower represents, warrants and covenants
that (i) the chief executive office of SEI and each other Person providing Collateral pursuant to a
Security Instrument (each, a “Grantor”) at the Effective Date is located at the address or
addresses specified on Schedule 3A.03, and (ii) Schedule 3A.03 contains a true and
complete list of (a) the exact legal name, jurisdiction of formation, and address of each Grantor,
(b) the exact legal name, jurisdiction of formation, and each location of the chief executive
office of each Grantor, (c) each location in which goods constituting Collateral are located, and
(d) each trade name, trademark or other trade style currently used by any Grantor. SEI shall not
change, and shall not permit any other Grantor to change, its name, jurisdiction of formation
(whether by reincorporation, merger or otherwise), the location of its chief executive office or
any location specified in clause (c) of the immediately preceding sentence, or use or permit any
other Grantor to use, any additional trade name, trademark or other trade style, except upon giving
written notice not more than thirty (30) days thereafter, or such additional time as agreed upon in
the Administrative Agent’s reasonable discretion, to the Collateral Agent and the

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Administrative Agent and taking or causing to be taken all such action at SEI’s or such other
Grantor’s expense as may be reasonably requested by the Collateral Agent to perfect or maintain the
perfection of the Lien of the Collateral Agent in Collateral.

     3A.04 Release of Guarantors, Collateral and Pledged Interests. Upon, or simultaneously
with, the consummation of any sale or other Disposition of all or substantially all of the assets
or capital stock of any Guarantor or any Direct Foreign Subsidiary (including by way of merger or
consolidation) to a Person that is not (either before or after giving effect to such transaction) a
Loan Party, so long as such sale or Disposition (and any related merger or consolidation) is
otherwise permitted pursuant to the terms of this Agreement and the other Loan Documents:

     (a) any security interest of the Collateral Agent, the Administrative Agent or any other
Senior Secured Party in any Collateral so sold or Disposed of shall be deemed released, without any
further action by the Collateral Agent, the Administrative Agent or any other Senior Secured Party;

     (b) to the extent such sale or Disposition, or any portion thereof, is of any Subsidiary
Securities of any Guarantor or any Direct Foreign Subsidiary, any security interest of the
Collateral Agent, the Administrative Agent or any other Senior Secured Party in any such Subsidiary
Securities shall be deemed released, without any further action by the Collateral Agent, the
Administrative Agent or any other Senior Secured Party;

     (c) to the extent such sale or Disposition results in any Guarantor no longer being a
Domestic Subsidiary of SEI, the guaranty of such Guarantor under any Guaranty shall be deemed
released, without any further action by the Collateral Agent, the Administrative Agent or any other
Senior Secured Party; and

     (d) each of the Collateral Agent, the Administrative Agent or the other Senior Secured
Parties will, at the sole expense of SEI, to the extent reasonably requested by SEI, execute and
deliver, or cause to be duly executed and delivered, to SEI such instruments, documents and
certificates, and do and cause to be done such further acts that may be reasonably necessary or
advisable in the reasonable opinion of SEI to carry out more effectively the provisions and
purposes of this Section 3A.04, provided that the Collateral Agent shall not be
obligated to take any action that may adversely affect any interest in Collateral or any guaranty
by any other Guarantor except as may be otherwise expressly required by this Section 3A.04.

ARTICLE IV.

CONDITIONS PRECEDENT TO CREDIT EXTENSIONS

     4.01 Conditions of Amendment and Restatement. The effectiveness of this Agreement and the
Amendment and Restatement of the Existing Agreement is subject to satisfaction of the following
conditions precedent:

     (a) 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

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executed by a Responsible Officer of the signing Loan Party, each dated the Effective Date
(or, in the case of certificates of governmental officials, a recent date before the Effective
Date) and each in form and substance satisfactory to the Administrative Agent and each of the
Lenders:

     (i) executed counterparts of this Agreement, the Consolidated Amendment and
Reaffirmation Agreement, and any other Loan Document required to be delivered with respect
to the Guarantors, the Collateral or otherwise, in each case sufficient in number for
distribution to the Administrative Agent, each Lender and SEI;

     (ii) a Note executed by each Borrower in favor of each Lender requesting a Note;

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

     (iv) such documents and certifications as the Administrative Agent may reasonably
require to evidence that each Loan Party is duly organized or formed, and that each such
Loan Party is validly existing, in good standing and qualified to engage in business in each
jurisdiction where its ownership, lease or operation of properties or the conduct of its
business requires such qualification, except to the extent that failure to do so could not
reasonably be expected to have a Material Adverse Effect (which such jurisdictions are set
forth on Schedule 4.01(a)(iv));

     (v) the favorable written opinion or opinions with respect to the Loan Documents
and the transactions contemplated thereby of (A) special counsel to SEI and any Loan Party
organized under the laws of the United States of America, any state or territory thereof
(other than Puerto Rico) or the District of Columbia, (B) special counsel to the PR
Borrowers and any PR Guarantor, and (C) special local counsel to one or more of the Loan
Parties in each jurisdiction listed on Schedule 4.01(a)(v), in each case dated the
Effective Date, addressed to the Administrative Agent, the Collateral Agent and the Lenders
and satisfactory to the Administrative Agent;

     (vi) a certificate of a Responsible Officer of SEI that (A) either (x) attaches
copies of all consents, licenses and approvals required in connection with the execution,
delivery and performance by each Loan Party and the validity against such Loan Party of the
Loan Documents to which it is a party, and such consents, licenses and approvals shall be in
full force and effect, or (y) states that no such consents, licenses or approvals are so
required, (B) certifies that the conditions specified in Sections 4.02(a) and
(b) have been satisfied, (C) certifies that there has been no event or circumstance
since the date of the Audited Financial Statements that has had or could be reasonably
expected to have, either individually or in the aggregate, a Material Adverse Effect and (D)
certifies as to the absence of any action, suit, investigation or proceeding pending or, to
the knowledge of any Borrower, threatened in any court or before any arbitrator or
governmental authority that could reasonably be expected to have a Material Adverse Effect;

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     (vii) evidence that all insurance required to be maintained pursuant to the Loan
Documents has been obtained and is in effect, together with the certificates of insurance,
naming the Collateral Agent, on behalf of the Senior Secured Parties, as an additional
insured or loss payee, as the case may be, under all insurance policies maintained with
respect to the assets and properties of the Loan Parties that constitutes Collateral;

     (viii) evidence of the delivery of any Uniform Commercial Code financing
statements, amendments or continuations, sufficient in each case for filing in all places
required by applicable United States law to perfect the Liens of the Collateral Agent or the
Administrative Agent under the Security Instruments as a first priority Lien (subject to
Permitted Liens) as to items of Collateral in which a security interest may be perfected by
the filing of financing statements, to the extent deemed necessary or appropriate by the
Administrative Agent or the Collateral Agent to maintain the perfection in Collateral
existing under the Existing Agreement and related documents, or to perfect a security
interest in any new or additional Collateral provided in connection with this Agreement and
the Loan Documents;

     (ix) such other documents and/or evidence of other actions as may be necessary
under applicable United States law to perfect, or maintain the perfection of, the Liens of
the Collateral Agent under the Security Instruments as a first priority Lien (subject to
Permitted Liens) in and to such other Collateral as the Collateral Agent or the
Administrative Agent may require, including without limitation, the delivery by SEI and each
Subsidiary owning any Pledged Interests of all stock certificates evidencing Pledged
Interests not already in possession of the Collateral Agent, or that are necessary to
correct the certificate in the possession of the Collateral Agent evidencing such Pledged
Interest (whether the identity of the record owner or issuer, the number or type of shares,
or otherwise), accompanied in each case by duly executed stock powers (or other appropriate
transfer documents) in blank affixed thereto;

     (x) Uniform Commercial Code search results showing only Permitted Liens and such
other Liens as are acceptable to the Lenders;

     (xi) a duly completed certificate reflecting the calculations set forth in Sections
I through IV, VII and VIII of the Compliance Certificate, as of the last day of the fiscal
quarter of SEI ended January 31, 2011, signed by an Executive Officer of SEI; and

     (xii) such other assurances, certificates, documents, consents or opinions as the
Administrative Agent, the Collateral Agent, the L/C Issuer, the Swing Line Lender or the
Required Lenders reasonably may require.

     (b) Any fees required to be paid on or before the Effective Date shall have been paid.

     (c) Unless waived by the Administrative Agent, the Borrowers shall have paid all fees,
charges and disbursements of counsel to the Administrative Agent to the extent invoiced prior to or
on the Effective Date (provided that after the Effective Date, the Borrowers acknowledge that there
will be a final settling of accounts between the Borrowers and the Administrative Agent).

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     Without limiting the generality of the provisions of Section 9.04, for purposes of
determining compliance with the conditions specified in this Section 4.01, each Lender that
has signed this Agreement shall be deemed to have consented to, approved or accepted or to be
satisfied with, each document or other matter required thereunder to be consented to or approved by
or acceptable or satisfactory to a Lender unless the Administrative Agent shall have received
notice from such Lender prior to the proposed Effective Date specifying its objection thereto.

     4.02 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 each Borrower and each other Loan Party
contained in Article V or any other Loan Document, or which are contained in any document
furnished at any time under or in connection herewith or therewith, shall be true and correct 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 as
of such earlier date, and except that for purposes of this Section 4.02, the
representations and warranties contained in subsection (a) of Section 5.06 shall be deemed
to refer to the most recent statements furnished pursuant to clauses (a)(i) and (b)(i) of
Section 6.01.

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

     (c) In the case of any Borrowing, the Administrative Agent shall have received a
certificate signed by a Responsible Officer of SEI certifying that the Borrowers will be in
compliance with Section 7.01(a) after giving pro forma effect to such proposed Borrowing
and the Indebtedness incurred in connection therewith (which such certification may be included in
the applicable Request for Credit Extension), including (in the case of each Borrowing other than a
Swing Line Borrowing) pro forma calculations demonstrating such compliance to the extent required
by the Administrative Agent.

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

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

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ARTICLE V.

REPRESENTATIONS AND WARRANTIES

     Each of the Borrowers represents and warrants to the Administrative Agent and the Lenders
that:

     5.01 Organization and Authority.

     (a) Each Borrower and each Guarantor is a corporation, limited liability company,
partnership or civil partnership as the case may be, duly organized and validly existing under the
laws of the jurisdiction of its formation;

     (b) Each Borrower and each Guarantor (x) has the requisite power and authority to own its
properties and assets and to carry on its business as now being conducted and as contemplated in
the Loan Documents, and (y) is qualified to do business in every jurisdiction in which failure so
to qualify would have a Material Adverse Effect;

     (c) Each Borrower has the power and authority to execute, deliver and perform this
Agreement and the Notes, and to borrow hereunder, and to execute, deliver and perform each of the
other Loan Documents to which it is a party;

     (d) Each Guarantor has the power and authority to execute, deliver and perform the
Guaranty and each of the other Loan Documents to which it is a party; and

     (e) When executed and delivered, each of the Loan Documents to which any Loan Party is a
party will be the legal, valid and binding obligation or agreement, as the case may be, of such
Loan Party, enforceable against such Loan Party in accordance with its terms, subject to the effect
of any applicable bankruptcy, moratorium, insolvency, reorganization, fraudulent conveyance or
other similar law affecting the enforceability of creditors’ rights generally and to the effect of
general principles of equity (whether considered in a proceeding at law or in equity).

     5.02 Loan Documents. The execution, delivery and performance by each Loan Party of each
of the Loan Documents to which it is a party:

     (a) have been duly authorized by all requisite organizational action of such Loan Party
required for the lawful execution, delivery and performance thereof;

     (b) do not violate any provisions of (i) any applicable law, rule or regulation, (ii) any
judgment, writ, order, determination, decree or arbitral award of any Governmental Authority or
arbitral authority binding on such Loan Party or its properties, or (iii) the Organization
Documents of such Loan Party;

     (c) do not and will not be in conflict with, result in a breach of or constitute an event
of default, or an event which, with notice or lapse of time or both, would constitute an event of
default, under any contract, indenture, agreement or other instrument or document to which such
Loan Party is a party, or by which the properties or assets of such Loan Party are bound; and

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     (d) do not and will not result in the creation or imposition of any Lien upon any of the
properties or assets of such Loan Party or any Subsidiary except Permitted Liens.

     5.03 Solvency. (a) As of the Effective Date, each Loan Party is Solvent after giving
effect to the transactions contemplated by the Loan Documents, and (b) at any time thereafter, SEI
and its Subsidiaries are Solvent on a consolidated basis.

     5.04 Subsidiaries and Stockholders. SEI has no Domestic Subsidiaries or Direct Foreign
Subsidiaries other than those Persons listed as Domestic Subsidiaries or Direct Foreign
Subsidiaries in Schedule 5.04 and additional Domestic Subsidiaries or Direct Foreign
Subsidiaries created or acquired after the Effective Date in compliance with Section 6.19;
Schedule 5.04 states as of the date hereof the organizational form of each entity, the
authorized and issued capitalization of each Domestic Subsidiary and Direct Foreign Subsidiary
listed thereon, the number of shares or other equity interests of each class of capital stock or
interest issued and outstanding of each such Domestic Subsidiary and Direct Foreign Subsidiary and
the number and/or percentage of outstanding shares or other equity interest (including options,
warrants and other rights to acquire any interest) of each such class of capital stock or other
equity interest owned by SEI or by any Domestic Subsidiary; the outstanding shares or other equity
interests of each such Domestic Subsidiary and Direct Foreign Subsidiary have been duly authorized
and validly issued and are fully paid and non-assessable; and SEI and each Domestic Subsidiary owns
beneficially and of record all the shares and other interests it is listed as owning in
Schedule 5.04, free and clear of any Lien other than Liens on Subsidiary Securities
securing Seller Financed Indebtedness or any Lien arising under the Loan Documents.

     5.05 Ownership Interests. Except as set forth in Schedule 5.05, SEI owns no
interest in any Person other than the Persons listed in Schedule 5.04, equity investments
in Persons not constituting Subsidiaries permitted under Section 7.07 and additional
Subsidiaries created or acquired after the Effective Date in compliance with Section 6.19.

     5.06 Financial Condition.

     (a) SEI has heretofore furnished to the Administrative Agent the following:

     (i) audited consolidated balance sheets of SEI and its Subsidiaries as of October
31, 2008, 2009 and 2010, and audited consolidated statements of income, stockholders’ equity
and cash flows for each such fiscal year then ended, along with the related notes thereto,
all as examined and certified by PricewaterhouseCoopers LLP; and

     (ii) unaudited interim consolidated balance sheets of SEI and its Subsidiaries as
of January 31, 2011, and unaudited interim consolidated statements of income, stockholders’
equity and cash flows for the quarter and/or three-month period then ended, as applicable.

Except as set forth therein, the financial statements described in subsections (i) and (ii)
above (including the notes thereto, where applicable) present fairly the financial condition
of SEI and its Subsidiaries and the results of their operations, cash flows and changes in
stockholders’ equity, as applicable, as of and for the periods indicated in such

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subsections, all in conformity with GAAP, subject however, in the case of unaudited interim
statements, to year end audit adjustments.

     (b) Since the later of (i) the date of the audited financial statements referred to in
Section 5.06(a) hereof with respect to the fiscal year ended October 31, 2010, or (ii) the
date of the audited financial statements most recently delivered pursuant to Section
6.01(a) hereof, there has not occurred any event, condition (financial or otherwise) or
circumstance which has had or could reasonably be expected to have a Material Adverse Effect, nor
have the businesses, assets, operations or properties of SEI or any Subsidiary, on a consolidated
basis, been materially adversely affected as a result of any fire, explosion, earthquake, accident,
strike, lockout, combination of workers, flood, embargo or act of God.

     5.07 Title to Properties. SEI and each of its Subsidiaries has good and marketable title
to all of its material real property and all of its personal property, subject to no transfer
restrictions or Liens of any kind, except for the transfer restrictions and Liens permitted by
Section 7.04.

     5.08 Taxes. SEI and each of its Subsidiaries have filed or caused to be filed all
Federal, state and other material tax returns and reports required to be filed by it, and have paid
all Federal, state and other material taxes, assessments, fees and other governmental charges
levied or imposed upon them or their properties, income or assets otherwise due and payable, except
those being contested in good faith by appropriate proceedings diligently conducted and against
which reserves reflected in the financial statements described in Section 5.06(a) or
Sections 6.01(a) or (b) and satisfactory to SEI’s independent certified public
accountants have been established. There is no proposed tax assessment against SEI or any
Subsidiary that would, if made, have a Material Adverse Effect.

     5.09 Other Agreements. Neither SEI, any other Loan Party nor any other Subsidiary is:

     (a) a party to or subject to any judgment, order, decree, agreement, lease or instrument,
or subject to other restrictions, which individually or in the aggregate could reasonably be
expected to have a Material Adverse Effect; or

     (b) in default in the performance, observance or fulfillment of any of the obligations,
covenants or conditions contained in any agreement or instrument to which such Loan Party or any
Subsidiary is a party, which default has, or if not remedied within any applicable grace period
could reasonably be expected to have, a Material Adverse Effect.

     5.10 Litigation. There is no action, suit, investigation or proceeding at law or in
equity or by or before any Governmental Authority or arbitral body pending, or, to the knowledge of
any Borrower, threatened by or against any Borrower or any Subsidiary or other Loan Party or
affecting any Borrower or any Subsidiary or other Loan Party or any properties or rights of any
Borrower or any Subsidiary or other Loan Party that (a) purport to affect or pertain to this
Agreement or any other Loan Document, or any of the transactions contemplated hereby, or (b) could
reasonably be expected to have a Material Adverse Effect.

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     5.11 Margin Stock. The proceeds of the borrowings made hereunder will be used by each
Borrower only for the purposes expressly authorized herein. None of such proceeds will be used,
directly or indirectly, for the purpose of (i) purchasing or carrying any margin stock, or (ii) for
the purpose of reducing or retiring any Indebtedness which was originally incurred to purchase or
carry margin stock or for any other purpose which violates or which would be inconsistent with
Regulation U (12 CFR Part 221) or Regulation X (12 CFR Part 224) of the Board; provided, that,
notwithstanding the foregoing clause (i), SEI may use proceeds of borrowings to purchase Equity
Interests of SEI that would otherwise violate such clause (i) so long as either (x) the Equity
Interests of SEI constituting such margin stock so acquired are promptly retired following the
purchase or other acquisition thereof or (y) at all times and after giving effect to each such
purchase or acquisition of Equity Interests in SEI, not more than twenty five percent (25%) of the
value of the assets (of SEI and its Subsidiaries on a consolidated basis) subject to the provisions
of Section 7.04 or Section 7.06 or subject to any restriction contained in any
agreement or instrument between SEI or any Subsidiary and any Lender or any Affiliate of any Lender
relating to Indebtedness and within the scope of Section 8.01(e) will be margin stock.
Neither any Borrower, any Subsidiary of SEI nor any agent acting on behalf of any of them has taken
or will take any action which might cause this Agreement or any of the documents or instruments
delivered pursuant hereto to violate any regulation of the Board or to violate the Securities
Exchange Act of 1934, as amended, or the Securities Act of 1933, as amended, or any state
securities laws, in each case as in effect on the date hereof.

     5.12 Regulated Company. No Loan Party or any Person Controlling any Borrower is or is
required to be registered as an “investment company” under the Investment Company Act of 1940. The
application of the proceeds of the Loans and repayment thereof by any Borrower and the performance
by any Borrower or any other Loan Party of the transactions contemplated by the Loan Documents will
not violate any provision of said Act, or any rule, regulation or order issued by the SEC
thereunder, in each case as in effect on the date hereof.

     5.13 Intellectual Property, Licenses, Etc. Except to the extent it could not reasonably
be expected to have a Material Adverse Effect, each Borrower and each other Loan Party owns or has
the right to use, under valid license agreements or otherwise, all material patents, licenses,
franchises, trademarks, trademark rights, trade names, trade name rights, trade secrets and
copyrights necessary to or used in the conduct of its businesses as now conducted and as
contemplated by the Loan Documents, without known conflict with any patent, license, franchise,
trademark, trade secret, trade name, copyright or other proprietary right of any other Person.

     5.14 No Untrue Statement. Each Borrower has disclosed to the Administrative Agent and the
Lenders (i) all agreements, instruments and corporate or other restrictions to which it or any of
its Subsidiaries is subject, and (ii) all other matters known to it, that, individually or in the
aggregate, could reasonably be expected to result in a Material Adverse Effect. Neither (a) this
Agreement nor any other Loan Document or certificate or document executed and delivered by or on
behalf of any Borrower or any other Loan Party in accordance with or pursuant to any Loan Document
nor (b) any statement, representation, or warranty provided to the Administrative Agent or any
Lender in connection with the negotiation or preparation of the Loan Documents contains any
misrepresentation or untrue statement of material fact or omits to state a material fact necessary,
in light of the circumstance under which it was made, in order to make any such

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warranty, representation or statement contained therein not misleading; provided that,
with respect to projected financial information, the Borrowers represent only that such information
was prepared in good faith based on assumptions believed to be reasonable at the time.

     5.15 No Consents, Etc. Neither the respective businesses or properties of the Loan
Parties or any Subsidiary, nor any relationship among the Loan Parties or any Subsidiary and any
other Person, nor any circumstance in connection with the execution, delivery and performance of
the Loan Documents and the transactions contemplated thereby, is such as to require a consent,
approval or authorization of, or filing, registration or qualification with, any Governmental
Authority or any other Person on the part of any Loan Party as a condition to the execution,
delivery and performance of, or consummation of the transactions contemplated by the Loan
Documents, which, if not obtained or effected, could reasonably be expected to have a Material
Adverse Effect, or if so, such consent, approval, authorization, filing, registration or
qualification has been duly obtained or effected, as the case may be.

     5.16 Employee Benefit Plans.

     (a) Each Plan is in compliance in all material respects with the applicable provisions of
ERISA, the Code and other Federal or state laws. Each Pension Plan that is intended to be a
qualified plan under Section 401(a) of the Code has received a favorable determination letter or
opinion letter from the IRS to the effect that the form of such Plan is qualified under Section
401(a) of the Code and the trust related thereto has been determined by the IRS to be exempt from
federal income tax under Section 501(a) of the Code, or an application for such a letter is
currently being processed by the IRS. To the best knowledge of each Borrower, nothing has occurred
that would prevent or cause the loss of such tax-qualified status.

     (b) There are no pending or, to the best knowledge of SEI, threatened claims, actions or
lawsuits, or action by any Governmental Authority, with respect to any Plan that could reasonably
be expected to have a Material Adverse Effect. There has been no prohibited transaction or
violation of the fiduciary responsibility rules with respect to any Plan that has resulted or could
reasonably be expected to result in a Material Adverse Effect.

     (c) (i) No ERISA Event has occurred, and neither SEI nor any ERISA Affiliate is aware of any
fact, event or circumstance that could reasonably be expected to constitute or result in an ERISA
Event with respect to any Pension Plan; (ii) SEI and each ERISA Affiliate has met all applicable
requirements under the Pension Funding Rules in respect of each Pension Plan, and no waiver of the
minimum funding standards under the Pension Funding Rules has been applied for or obtained; (iii)
except as set forth on Schedule 5.16(c), as of the most recent valuation date for any
Pension Plan, the funding target attainment percentage (as defined in Section 430(d)(2) of the
Code) is 60% or higher and neither SEI nor any ERISA Affiliate knows of any facts or circumstances
that could reasonably be expected to cause the funding target attainment percentage for any such
plan to drop below 60% as of the most recent valuation date; (iv) neither SEI nor any ERISA
Affiliate has incurred any liability to the PBGC other than for the payment of premiums, and there
are no premium payments which have become due that are unpaid; (v) neither SEI nor any ERISA
Affiliate has engaged in a transaction that could be subject to Section 4069 or Section 4212(c) of
ERISA; and (vi) no Pension Plan has been terminated by the plan administrator thereof nor by the
PBGC, and no event or circumstance has

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occurred or exists that could reasonably be expected to cause the PBGC to institute
proceedings under Title IV of ERISA to terminate any Pension Plan.

     (d) With respect to each scheme or arrangement mandated by a government other than the
United States (a “Foreign Government Scheme or Arrangement”) and with respect to each
employee benefit plan maintained or contributed to by any Borrower or any Guarantor or any of their
Subsidiaries that is not subject to United States law (a “Foreign Plan”):

     (i) any employer and employee contributions required by law or by the terms of any
Foreign Government Scheme or Arrangement or any Foreign Plan have been made, or, if
applicable, accrued, in accordance with normal accounting practices;

     (ii) the fair market value of the assets of each funded Foreign Plan, the liability
of each insurer for any Foreign Plan funded through insurance or the book reserve
established for any Foreign Plan, together with any accrued contributions, is sufficient to
procure or provide for the accrued benefit obligations, as of the date hereof, with respect
to all current and former participants in such Foreign Plan according to the actuarial
assumptions and valuations most recently used to account for such obligations in accordance
with applicable generally accepted accounting principles; and

     (iii) each Foreign Plan required to be registered has been registered and has been
maintained in good standing with applicable regulatory authorities.

     5.17 No Default. As of the date hereof, there does not exist any Default or Event of
Default hereunder.

     5.18 Environmental Laws. SEI and each Subsidiary are in compliance with all applicable
Environmental Laws and have been issued and currently maintain all federal, state and local
permits, licenses, certificates and approvals required under any applicable Environmental Law, in
each case except to the extent failure to do so could not reasonably be expected to have a Material
Adverse Effect. Except to the extent it could not reasonably be expected to have a Material
Adverse Effect, neither SEI nor any Subsidiary has been notified of any pending or threatened
action, suit, proceeding or investigation, and neither SEI nor any Subsidiary is aware of any
facts, which (a) call into question, or could reasonably be expected to call into question,
compliance by SEI or any Subsidiary with any applicable Environmental Laws, (b) seeks, or could
reasonably be expected to form the basis of a meritorious proceeding, to suspend, revoke or
terminate any license, permit or approval necessary for the operation of SEI’s or any Subsidiary’s
business or facilities or for the generation, handling, storage, treatment or disposal of any
Hazardous Materials, or (c) seeks to cause, or could reasonably be expected to form the basis of a
meritorious proceeding to cause, any property of SEI or any Subsidiary or other Loan Party to be
subject to any restrictions on ownership, use, occupancy or transferability under any applicable
Environmental Law.

     5.19 Employment Matters.

     (a) Except as set forth on Schedule 5.19, none of the employees of any Borrower or
any Subsidiary is subject to any collective bargaining agreement and there are no strikes, work
stoppages, election or decertification petitions or proceedings, unfair labor charges, equal

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opportunity proceedings, or other material labor/employee related controversies or proceedings
pending or, to the best knowledge of each Borrower, threatened against any Borrower or any
Subsidiary or between any Borrower or any Subsidiary and any of its employees, other than employee
grievances arising in the ordinary course of business which could not reasonably be expected,
individually or in the aggregate, to have a Material Adverse Effect; and

     (b) Except to the extent a failure to maintain compliance would not have a Material
Adverse Effect, each Borrower and each Subsidiary is in compliance in all respects with all
applicable laws, rules and regulations pertaining to labor or employment matters, including without
limitation those pertaining to wages, hours, occupational safety and taxation and there is neither
pending or threatened any litigation, administrative proceeding nor, to the knowledge of any
Borrower, any investigation, in respect of such matters which, if decided adversely, could
reasonably be likely, individually or in the aggregate, to have a Material Adverse Effect.

     5.20 Deathcare Industry. Except to the extent a failure to maintain compliance could not
reasonably be expected to have a Material Adverse Effect, SEI and its Subsidiaries are in
compliance in all respects with all Federal, state, territorial and local laws, rules and
regulations, including licensure requirements applicable to any of them or any of their directors,
officers, employees or agents, applicable to the delivery of funeral, cemetery and related products
and services.

ARTICLE VI.

AFFIRMATIVE COVENANTS

     So long as any Lender shall have any Commitment hereunder, any Loan or other Obligation
hereunder shall remain unpaid or unsatisfied, or any Letter of Credit shall remain outstanding, SEI
shall, and where applicable shall cause each Subsidiary to:

     6.01 Financial Reports, Etc.

     (a) as soon as practical, and in any event within the Maximum Permitted Time, deliver or
cause to be delivered to the Administrative Agent:

     (i) consolidated balance sheet of SEI and its Subsidiaries as at the end of such
fiscal year, and the related consolidated statements of income, stockholders’ equity and
cash flows for such fiscal year, along with the related notes thereto (which financial
statements and related notes may be included in SEI’s most recent Form 10-K), all in
reasonable detail and prepared in accordance with GAAP, audited and accompanied by a report
and opinion of PricewaterhouseCoopers LLP, or other independent certified public accountants
of national standing selected by SEI, as to whether such financial statements are presented
fairly, in all material respects, in accordance with GAAP, and which report and opinion
shall be prepared in accordance with audit standards of the PCAOB and shall not be subject
to any “going concern” or like qualification or exception or any qualification or exception
as to the scope of such audit or with respect to the presentation of the consolidated
financial statements in accordance with GAAP; and

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     (ii) a Compliance Certificate executed by a Responsible Officer of SEI
demonstrating compliance with Sections 7.01(a) through 7.01(c) and
7.03;

     (b) commencing with the fiscal quarter ended April 30, 2011, as soon as practical, and in
any event within the Maximum Permitted Time, deliver or cause to be delivered to the Administrative
Agent:

     (i) consolidated balance sheets of SEI and its Subsidiaries as of the end of such
fiscal quarter, and consolidated statements of income, stockholders’ equity and cash flows
for such fiscal quarter and for the period from the beginning of the then current fiscal
year through the end of such reporting period (which financial statements may be on Form
10-Q), and accompanied by a certificate of a Responsible Officer of SEI to the effect that
such financial statements present fairly the financial position of SEI and its Subsidiaries
as of the end of such fiscal period and the results of their operations and cash flows for
such fiscal period, in accordance with GAAP, subject however, to year end audit adjustments;
and

     (ii) a Compliance Certificate executed by a Responsible Officer of SEI containing
computations for such quarter comparable to that required pursuant to Section
6.01(a)(ii), but excluding compliance with Section 7.03;

     (c) together with each delivery of the financial statements required by Section
6.01(a)(i), deliver to the Administrative Agent a letter from SEI’s accountants specified in
Section 6.01(a)(i) stating that in performing the audit necessary to render an opinion on
the financial statements delivered under Section 6.01(a)(i), they obtained no knowledge of
any Default or Event of Default by any Borrower in the fulfillment of the terms and provisions of
this Agreement insofar as they relate to financial matters (which at the date of such statement
remains uncured); or if the accountants have obtained knowledge of such Default or Event of
Default, a statement specifying the nature and period of existence thereof;

     (d) promptly upon their becoming available to SEI, SEI shall deliver to the Administrative
Agent a copy of (i) all regular or special reports or effective registration statements which SEI
or any Subsidiary shall file with the SEC (or any successor thereto) or any securities exchange,
and (ii) any proxy statement distributed by SEI or any Subsidiary to its shareholders, bondholders
or the financial community in general;

     (e) for so long as the Senior 2007 Convertible (3.125%) Notes due 2014 remain outstanding,
on the Business Day closest to the date which is six (6) months prior to the Senior 2007
Convertible (3.125%) Notes Maturity Date and within 5 Business Days of the end of each calendar
month prior to the date that is 92 days prior to the Senior 2007 Convertible (3.125%) Notes
Maturity Date, a certificate of a Financial Officer of the SEI substantially in the form of
Exhibit I setting forth a calculation of Remaining Liquidity as of such date; and

     (f) promptly, from time to time, deliver or cause to be delivered to the Administrative
Agent such other information regarding SEI’s and any Subsidiary’s operations, business affairs and
financial condition as the Administrative Agent or any Lender may reasonably request.

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     The Administrative Agent, the Collateral Agent and the Lenders are hereby authorized to
deliver a copy of any such financial or other information delivered hereunder to the Lenders (or
any Affiliate of any Lender) or to the Administrative Agent, to any Governmental Authority having
jurisdiction over the Administrative Agent, the Collateral Agent or any of the Lenders pursuant to
any written request therefor or in the ordinary course of examination of loan files, or to any
other Person who shall acquire or consider the assignment of, or acquisition of any participation
interest in, any Obligation permitted by this Agreement, including any pledgee pursuant to
Section 10.06(f).

     Documents required to be delivered pursuant to this Section 6.01 may be delivered
electronically and if so delivered, shall be deemed to have been delivered on the date (i) on which
SEI posts such documents, or provides a link thereto on SEI’s website on the Internet at the
website address listed on Schedule 10.02 (in the case of any such documents included in
materials otherwise filed with the SEC); or (ii) on which such documents are posted on SEI’s behalf
on an Internet or intranet website, if any, to which each Lender and the Administrative Agent have
access (whether a commercial, third-party website or whether sponsored by the Administrative
Agent)(in the case of any other documents required to be delivered pursuant to this Section
6.01); provided that: (i) SEI shall deliver paper copies of such documents to the
Administrative Agent or any Lender that requests SEI to deliver such paper copies until a written
request to cease delivering paper copies is given by the Administrative Agent or such Lender and
(ii) SEI shall notify the Administrative Agent and each Lender (by telecopier or electronic mail)
of the posting of any such documents and provide to the Administrative Agent by electronic mail
electronic versions (i.e., soft copies) of such documents. 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 any 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.

     Each Borrower hereby acknowledges that (a) the Administrative Agent and/or the Arranger will
make available to the Lenders and the L/C Issuer materials and/or information provided by or on
behalf of each Borrower hereunder (collectively, “Borrower Materials”) by posting the
Borrower Materials on IntraLinks or another similar electronic system (the “Platform”) and
(b) certain of the Lenders (each, a “Public Lender”) may have personnel who do not wish to
receive material non-public information with respect to any Borrower or its Affiliates, or the
respective securities of any of the foregoing, and who may be engaged in investment and other
market-related activities with respect to such Persons’ securities. Each Borrower hereby agrees
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”, such
Borrower shall be deemed to have authorized the Administrative Agent, the Arranger, the L/C Issuer
and the Lenders to treat such Borrower Materials as not containing any material non-public
information with respect to such Borrower or its securities for purposes of United States Federal
and state securities laws (provided, however, that to the extent such Borrower
Materials constitute Information, they shall be treated as set forth in Section 10.07); (y)
all Borrower Materials marked “PUBLIC” are permitted to be made available through a portion of the
Platform designated “Public Side Information”; and (z) the Administrative Agent and the Arranger
shall be entitled to treat any Borrower Materials that

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are not marked “PUBLIC” as being suitable only for posting on a portion of the Platform that
is not designated “Public Side Information”.

     6.02 Maintain Properties. Maintain all properties necessary to its operations in good
working order and condition, make all needed repairs, replacements and renewals to such properties,
and maintain free from Liens all trademarks, trade names, patents, copyrights, trade secrets,
know-how, and other intellectual property and proprietary information (or adequate licenses
thereto), in each case as are reasonably necessary to conduct its business as currently conducted
or as contemplated hereby, all in accordance with customary and prudent business practices.

     6.03 Existence, Qualification, Etc. Except as otherwise expressly permitted under
Sections 7.06 and 7.08, do or cause to be done all things necessary to preserve and
keep in full force and effect its existence and all material rights, franchises and licenses, and
maintain all licenses and qualifications to do business in any jurisdiction in which it operates to
the extent required to so operate, and maintain its good standing in each jurisdiction in which its
ownership or lease of property or the nature of its business makes such good standing necessary.

     6.04 Regulations and Taxes. Comply in all respects with all applicable statutes and
governmental regulations, except for noncompliance which could not reasonably be expected to have a
Material Adverse Effect, and pay all taxes, assessments, governmental charges, claims for labor,
supplies, rent and any other obligation which, if unpaid, would become a Lien against any of its
properties, except liabilities (a) that could not reasonably be expected to have a Material Adverse
Effect, or (b) being contested in good faith by appropriate proceedings diligently conducted
provided that (i) adequate reserves with respect thereto are maintained on the books of the
applicable Person in accordance with GAAP and (ii) any Lien arising in connection with any such
contest shall be permitted to exist to the extent provided in Section 7.04.

     6.05 Insurance. (a) Keep all of its insurable properties adequately insured at all times
with responsible insurance carriers against loss or damage by fire and other hazards to the extent
and in the manner as are customarily insured against by similar businesses owning such properties
similarly situated and otherwise as required by the Security Instruments, (b) maintain general
public liability insurance at all times with responsible insurance carriers against liability on
account of damage to persons and property and (c) maintain insurance under all applicable workers’
compensation laws (or in the alternative, maintain required reserves if self-insured for workers’
compensation purposes) and against loss by reason of business interruption with such policies of
insurance to have such limits, deductibles, exclusions, co-insurance and other provisions providing
no less coverage than that maintained by similar businesses that are similarly situated, such
insurance policies to be in form reasonably satisfactory to the Administrative Agent and the
Collateral Agent. Each of the policies of insurance described in this Section 6.05 shall
provide that the insurer shall give the Collateral Agent not less than thirty (30) days’ prior
written notice (or ten (10) days prior written notice in the case of nonpayment) before any such
policy shall be terminated, lapse or be altered in any manner.

     6.06 True Books. Keep true books of record and account in which full, true and correct
entries in conformity with GAAP will be made of all of its dealings and transactions, and set up on
its books such reserves as may be required by GAAP with respect to doubtful accounts

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and all taxes, assessments, charges, levies and claims and with respect to its business in
general, and include such reserves in interim as well as year-end financial statements.

     6.07 Right of Inspection. Permit any Person designated by any Lender or the
Administrative Agent to visit and inspect any of the properties, corporate books and financial
reports of SEI or any Subsidiary and to discuss its affairs, finances and accounts with its
principal officers and independent certified public accountants, all to be reasonable in scope, at
reasonable times, at reasonable intervals and with reasonable prior notice; provided,
however, that when an Event of Default has occurred and is continuing the Administrative
Agent or any Lender (or any of their respective representatives or independent contractors) may do
any of the foregoing at the reasonable expense of the Borrowers at any time during normal business
hours and without advance notice.

     6.08 Observe All Laws. Except to the extent that any failure could not reasonably be
expected to have a Material Adverse Effect, conform to and duly observe in all material respects
all applicable laws, rules and regulations and all other valid requirements of any Governmental
Authority with respect to the conduct of its business.

     6.09 Governmental Licenses. Except to the extent that any failure could not reasonably be
expected to have a Material Adverse Effect, obtain and maintain all licenses, permits,
certifications and approvals of all applicable Governmental Authorities as are required for the
conduct of its business as currently conducted and as contemplated by the Loan Documents.

     6.10 Covenants Extending to Other Persons. Cause each of its Subsidiaries (and, with
respect to the maintenance of required licenses and permits under Sections 6.03,
6.04 and 6.09, their respective officers, directors and employees) to do with
respect to itself, its business and its assets, each of the things required of SEI in Sections
6.02 through 6.09, and 6.18 inclusive.

     6.11 Officer’s Knowledge of Default. Upon any Executive Officer obtaining knowledge of
(a) any event, development or occurrence which could reasonably be expected to have a Material
Adverse Effect, or (b) any Default or Event of Default hereunder or under any Secured Hedge
Agreement, cause such officer or a Responsible Officer of SEI to promptly notify the Administrative
Agent of the nature thereof, the period of existence thereof, and what action such Borrower or such
Subsidiary or other Loan Party proposes to take with respect thereto.

     6.12 Suits or Other Proceedings. Upon any Executive Officer obtaining knowledge of any
litigation, investigation or other proceedings being instituted against any Borrower or any
Subsidiary or other Loan Party, or any attachment, levy, execution or other process being
instituted against any assets of any Borrower or any Subsidiary or other Loan Party, making a claim
or claims in an aggregate amount greater than $5,000,000 not otherwise covered by insurance,
promptly deliver to the Administrative Agent written notice thereof stating the nature and status
of such litigation, dispute, proceeding, levy, execution or other process.

     6.13 Notice of Environmental Complaint or Condition. To the extent any of the following
could reasonably be expected to have a Material Adverse Effect, promptly provide to

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the Administrative Agent true, accurate and complete copies of any and all notices,
complaints, orders, directives, claims or citations received by any Borrower or any Subsidiary
relating to any (a) violation or alleged violation by any Borrower or any Subsidiary of any
applicable Environmental Law; (b) release or threatened release by any Borrower or any Subsidiary,
or by any Person handling, transporting or disposing of any Hazardous Material on behalf of any
Borrower or any Subsidiary, or at any facility or property owned or leased or operated by any
Borrower or any Subsidiary, of any Hazardous Material, except where occurring legally pursuant to a
permit or license; or (c) liability or alleged liability of any Borrower or any Subsidiary for the
costs of cleaning up, removing, remediating or responding to a release of Hazardous Materials.

     6.14 Environmental Compliance. If any Borrower or any Subsidiary shall receive any
letter, notice, complaint, order, directive, claim or citation from any Governmental Authority
responsible for enforcing such Environmental Law alleging that any Borrower or any Subsidiary has
violated any applicable Environmental Law, has released any Hazardous Material, or is liable for
the costs of cleaning up, removing, remediating or responding to a release of Hazardous Materials,
each such Borrower shall, within the time period permitted and to the extent required by the
applicable Environmental Law or the Governmental Authority responsible for enforcing such
Environmental Law, remove or remedy, or cause the applicable Subsidiary to remove or remedy, such
violation or release or satisfy such liability.

     6.15 Indemnification. Without limiting the generality of Section 10.04, SEI
hereby agrees to indemnify and hold each Indemnitee harmless from and against any and all claims,
losses, penalties, liabilities, damages and expenses (including assessment and cleanup costs and
reasonable attorneys’, consultants’ or other expert fees, expenses and disbursements) arising
directly or indirectly from, out of or by reason of (a) the violation of any Environmental Law by
SEI or any Subsidiary or with respect to any property owned, operated or leased by SEI or any
Subsidiary or (b) the handling, storage, transportation, treatment, emission, release, discharge or
disposal of any Hazardous Materials by or on behalf of SEI or any Subsidiary, or on or with respect
to property owned or leased or operated by SEI or any Subsidiary. The provisions of this
Section 6.15 shall continue in effect notwithstanding the Facility Termination Date.

     6.16 Further Assurances. At SEI’s cost and expense, upon request of the Administrative
Agent, duly execute and deliver or cause to be duly executed and delivered, to the Administrative
Agent or the Collateral Agent, as applicable, such further instruments, documents, certificates,
financing and continuation statements, and do and cause to be done such further acts that may be
reasonably necessary or advisable in the reasonable opinion of the Administrative Agent or the
Collateral Agent, as applicable, to carry out more effectively the provisions and purposes of this
Agreement, the Security Instruments and the other Loan Documents.

     6.17 Employee Benefit Plans.

     (a) With reasonable promptness, and in any event within thirty (30) days thereof, give
notice to the Administrative Agent of any of the following events that could reasonably be expected
to result in a Material Adverse Effect: (i) the establishment of any new Pension Plan (which
notice shall include a copy of such plan), (ii) the commencement of contributions to any Plan to
which any Borrower or any of its ERISA Affiliates was not previously contributing, (iii)

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any material increase in the benefits of any existing Plan, and (iv) the failure of SEI or any
ERISA Affiliate to make a required installment or payment under any Foreign Government Scheme or
Arrangement or Foreign Plan by the due date;

     (b) With reasonable promptness, and in any event within thirty (30) days thereof, give
notice to the Administrative Agent of (i) each funding waiver request filed with respect to any
Pension Plan and all communications received or sent by any Borrower or any ERISA Affiliate with
respect to such request, and (ii) the failure of any Borrower or any ERISA Affiliate to make a
required installment or payment under the Pension Funding Rules (in the case of Plans regulated by
the Code or ERISA) by the due date;

     (c) Promptly and in any event within thirty (30) days of becoming aware of the occurrence
or forthcoming occurrence of any ERISA Event;

     (d) Promptly and in any event within thirty (30) days of becoming aware of the occurrence
or forthcoming occurrence of any of the following that could reasonably be expected to result in a
Material Adverse Effect: a nonexempt “prohibited transaction,” as such term is defined in Section
406 of ERISA or Section 4975 of the Code, in connection with any Plan or any trust created
thereunder, deliver to the Administrative Agent a notice specifying the nature thereof, what action
any Borrower or any ERISA Affiliate has taken, is taking or proposes to take with respect thereto
and, when known, any action taken or threatened by the IRS, the Department of Labor or the PBGC
with respect thereto; and

     (e) With reasonable promptness but in any event within thirty (30) days for purposes of
clauses (i), (ii) and (iii) of this Section 6.17(e), deliver to the Administrative Agent
copies of any of the following events that could reasonably be expected to result in a Material
Adverse Effect: (i) any unfavorable determination letter from the IRS regarding the qualification
of a Plan under Section 401(a) of the Code, (ii) all notices received by SEI or any ERISA Affiliate
of the PBGC’s or any Governmental Authority’s intent to terminate any Pension Plan or to have a
trustee appointed to administer any Pension Plan, (iii) each Schedule B (Actuarial Information) to
the annual report (Form 5500 Series) filed by SEI or any ERISA Affiliate with the IRS with respect
to each Plan and (iv) all notices received by SEI or any ERISA Affiliate from a Multiemployer Plan
sponsor concerning the imposition or amount of withdrawal liability pursuant to Section 4202 of
ERISA. SEI will notify the Administrative Agent in writing within five (5) Business Days of SEI or
any ERISA Affiliate obtaining knowledge or reason to know that SEI or any ERISA Affiliate has filed
or intends to file a notice of intent to terminate any Pension Plan under a distress termination
within the meaning of Section 4041(c) of ERISA.

     6.18 Continued Operations. Continue at all times to conduct its business and engage
principally in the same line or lines of business substantially as heretofore conducted, including
financing and insurance operations reasonably related or ancillary thereto.

     6.19 New Subsidiaries. Not later than thirty (30) days after, or such additional time as
agreed upon in the Administrative Agent’s reasonable discretion, (i) the acquisition or creation of
any Domestic Subsidiary, any Direct Foreign Subsidiary, or any PR Subsidiary, or (ii) any
Subsidiary becoming a Domestic Subsidiary (including by ceasing to be an Excluded

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Subsidiary), a Direct Foreign Subsidiary or a PR Subsidiary, cause to be delivered to the
Administrative Agent each of the following:

     (a) to the extent such Subsidiary is a Domestic Subsidiary or a PR Subsidiary, a Guaranty
Joinder Agreement duly executed by such Subsidiary;

     (b) to the extent such Subsidiary is a Domestic Subsidiary, required Security Instruments
of such Subsidiary, including a Security Joinder Agreement duly executed by such Subsidiary (with
all schedules thereto appropriately completed) and an Intellectual Property Security Joinder
Agreement (with all schedules thereto appropriately completed) (together, if required by the
Collateral Agent, with an Assignment of Patents, Trademarks and Copyrights), together with such
Uniform Commercial Code financing statements on Form UCC-1 or otherwise duly executed by such
Subsidiary as “Debtor” and naming the Collateral Agent for the benefit of the Senior Secured
Parties, in form, substance and number sufficient in the reasonable opinion of the Collateral Agent
and its special counsel to be filed in all Uniform Commercial Code filing offices in all
jurisdictions in which filing is necessary or advisable to perfect in favor of the Collateral Agent
for the benefit of the Senior Secured Parties the Lien on Collateral conferred under such Security
Instrument to the extent such Lien may be perfected by Uniform Commercial Code filing, and if such
Subsidiary owns any Domestic Subsidiary or Direct Foreign Subsidiary, a Pledge Joinder Agreement
(with all schedules thereto appropriately completed) duly executed by such Subsidiary;

     (c) if the Subsidiary Securities issued by such Subsidiary that are, or are required to
become, Pledged Interests, shall be owned by a Subsidiary who has not then executed and delivered
to the Collateral Agent a Pledge Agreement or a Pledge Joinder Agreement granting a Lien to the
Collateral Agent, for the benefit of the Senior Secured Parties, in such equity interests, a Pledge
Joinder Agreement executed by the Subsidiary (with all schedules thereto appropriately completed)
that directly owns such Subsidiary Securities (or, as to the Pledged Interests issued by any Direct
Foreign Subsidiary, in a form acceptable to the Collateral Agent), and if such Subsidiary
Securities shall be owned by SEI or a Subsidiary who has previously executed a Pledge Agreement, a
Pledge Agreement Supplement in the form required by such Pledge Agreement pertaining to such
Subsidiary Securities;

     (d) if the Pledged Interests issued by such Subsidiary constitute securities under Article
8 of the Uniform Commercial Code (i) the certificates representing 100% of such Subsidiary
Securities and (ii) duly executed, undated stock powers or other appropriate powers of assignment
in blank affixed thereto;

     (e) (i) Uniform Commercial Code financing statements on form UCC-1 or otherwise duly
executed by the pledgor as “Debtor” and naming the Collateral Agent for the benefit of the Senior
Secured Parties as “Secured Party,” in form, substance and number sufficient in the reasonable
opinion of the Collateral Agent and its special counsel to be filed in all Uniform Commercial Code
filing offices and in all jurisdictions in which filing is necessary or advisable to perfect in
favor of the Collateral Agent for the benefit of the Senior Secured Parties the Lien on such
Subsidiary Securities and (ii) if the Pledged Interests issued by such Subsidiary do not constitute
securities and such Subsidiary has not elected to have such interests treated as securities under
Article 8 of the applicable Uniform Commercial Code, unless waived by the

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Collateral Agent in its reasonable discretion, a control agreement from the Registrar of such
Subsidiary, in form and substance acceptable to the Collateral Agent and in which the Registrar (1)
acknowledges that the pledgor is at the date of such acknowledgment the sole record, and to its
knowledge, beneficial owner of such Subsidiary Securities, (2) acknowledges the Lien in favor of
the Collateral Agent conferred under the Pledge Agreement and that such Lien will be reflected on
the registry for such Subsidiary Securities, (3) agrees that it will not register any transfer of
such Subsidiary Securities nor acknowledge any Lien in favor of any other Person on such Subsidiary
Securities, without the prior written consent of the Collateral Agent, in each instance, until it
receives notice from the Collateral Agent that all Liens on such Collateral in favor of the
Collateral Agent for the benefit of the Senior Secured Parties have been released or terminated,
and (4) agrees that upon receipt of notice from the Administrative Agent or the Collateral Agent
that an Event of Default has occurred and is continuing and that the Subsidiary Securities
identified in such notice have been transferred to a transferee identified in such notice, it will
duly record such transfer of Subsidiary Securities on the appropriate registry without requiring
further consent from the pledgor and shall thereafter treat the transferee as the sole record and
beneficial owner of such Subsidiary Securities pending further transfer, notwithstanding any
contrary instruction received from the pledgor;

     (f) if requested by the Administrative Agent, an opinion of counsel to the Subsidiary
dated as of the date of delivery of the Guaranty and other Loan Documents provided for in this
Section 6.19 and addressed to the Administrative Agent, the Collateral Agent and the
Lenders, in form and substance reasonably acceptable to the Administrative Agent, including
opinions, assumptions and qualifications similar to those contained in the opinions of counsel
delivered pursuant to Section 4.01(a); and

     (g) current copies, certified by an appropriate officer of such Subsidiary, of the
Organization Documents of such Subsidiary, resolutions (or duly effected consent actions) of the
Board of Directors, partners, or appropriate committees thereof (and, if required by such
Organization Documents or applicable law, of the shareholders, members or partners) of such
Subsidiary authorizing the actions and the execution and delivery of documents described in this
Section 6.19.

     6.20 Use of Proceeds. Use the proceeds of the Credit Extensions (i) as an extension and
continuation of the Indebtedness of the Borrowers under, and the Amendment and Restatement of, the
Existing Agreement and (ii) for working capital, capital expenditures, acquisitions and other
lawful corporate purposes.

ARTICLE VII.

NEGATIVE COVENANTS

     So long as any Lender shall have any Commitment hereunder, any Loan or other Obligation
hereunder shall remain unpaid or unsatisfied, or any Letter of Credit shall remain outstanding, SEI
shall not, nor shall it permit any Subsidiary to, directly or indirectly:

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     7.01 Financial Covenants.

     (a) Consolidated Adjusted Leverage Ratio. Permit the Consolidated Adjusted
Leverage Ratio at any time while any Loan is outstanding to be greater than 4.75 to1.00.

     (b) Consolidated Senior Secured Leverage Ratio. Permit at any time the
Consolidated Senior Secured Leverage Ratio to be greater than 2.00 to 1.00.

     (c) Consolidated Interest Coverage Ratio. Permit the Consolidated Interest
Coverage Ratio as of the end of any Four-Quarter Period to be less than 2.60 to 1.00.

In the event of any fiscal year change permitted by the proviso to Section 7.12, the
periods applicable to the financial covenants set forth above shall be automatically adjusted to
reflect the last day of the applicable corresponding revised fiscal year end date as set forth in
Section 1.05(c).

     7.02 Acquisitions. Enter into any agreement, contract, binding commitment or other
arrangement providing for any Acquisition, or take any action to solicit the tender of securities
or proxies in respect thereof in order to effect any Acquisition, unless:

     (a) the Person to be (or whose assets are to be) acquired does not oppose such Acquisition
and the line or lines of business of the Person to be acquired are the same as, similar to or
related to one or more line or lines of business conducted by SEI and its Subsidiaries;

     (b) no Default or Event of Default shall have occurred and be continuing either
immediately prior to or immediately after giving effect to such Acquisition;

     (c) immediately after giving effect thereto, Available Liquidity shall be greater than or
equal to $25,000,000;

     (d) the Person acquired shall either (i) be a wholly-owned Domestic Subsidiary (or satisfy
the requirements of an Immaterial Domestic Subsidiary), or be merged into SEI or an SEI Guarantor,
immediately upon consummation of the Acquisition (or if assets are being acquired, the acquiror
shall be SEI or a SEI Guarantor), or (ii) be a wholly-owned Subsidiary of one or both of the PR
Borrowers or of a PR Guarantor, or be merged into a PR Borrower or a PR Guarantor, immediately upon
the consummation of the Acquisition (or if assets are being acquired, the acquiror shall be a PR
Borrower or a PR Guarantor), provided that the aggregate Cost of Acquisition of all
Acquisitions permitted under this part (d)(ii) shall not exceed $30,000,000;

     (e) either:

     (i) after giving pro forma historical effect to such Acquisition, (A) the
Consolidated Adjusted Leverage Ratio shall be less than or equal to 4.25 to 1.00 and (B) the
Consolidated Senior Secured Leverage Ratio shall be less than or equal to 2.00 to 1.00, in
each case which shall be demonstrated in a Compliance Certificate delivered pursuant to
subsection (f)(ii) below or, in the event no such Compliance Certificate is

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required and the Cost of Acquisition of such Acquisition exceeds $5,000,000, in a
separate calculation provided to the Administrative Agent, or

     (ii) the Cost of Acquisition of such Acquisition, when combined with the Cost of
Acquisition of all other Acquisitions consummated since the beginning of the then-current
fiscal year, does not exceed the sum of (A) $75,000,000, and (B) the amount permitted by
this subsection (e)(ii) (without giving effect to any Acquisition consummated in reliance on
subsection (e)(i)) but not used in each previous fiscal year (including cumulative
carryovers) beginning with the fiscal year ending October 31, 2010; and

     (f) in the event the Cost of Acquisition of such Acquisition exceeds $20,000,000, SEI
shall have furnished to the Administrative Agent (i) pro forma historical financial statements as
of the end of the most recently completed fiscal year of SEI and most recent interim fiscal
quarter, if applicable, giving effect to such Acquisition and (ii) a Compliance Certificate
prepared on a historical pro forma basis as of the most recent date for which financial statements
have been furnished pursuant to Section 5.06(a) or Section 6.01(a) or (b)
giving effect to such Acquisition and all other Acquisitions since the last such certificate was
delivered, which certificate shall demonstrate that no Default or Event of Default would exist
immediately after giving effect thereto.

     7.03 Capital Expenditures. Make Capital Expenditures which exceed in the aggregate in any
fiscal year of SEI, the sum of (a) $45,000,000, and (b) the amount permitted but not used in each
previous fiscal year (including cumulative carryovers) beginning with the fiscal year ending
October 31, 2010.

     7.04 Liens. Incur, create, assume or permit to exist any Lien, charge or other
encumbrance of any nature whatsoever with respect to any property or assets now owned or hereafter
acquired by SEI or any Subsidiary, other than:

     (a) Liens created under the Security Instruments in favor of the Collateral Agent and the
Senior Secured Parties, and otherwise existing as of the date hereof and as set forth in
Schedule 7.04;

     (b) Liens imposed by law for taxes, assessments or charges of any Governmental Authority
for claims not yet due or which are being contested in good faith by appropriate proceedings
diligently conducted and with respect to which adequate reserves are being maintained in accordance
with GAAP, which Liens are not yet exercisable to effect the sale or seizure of property subject
thereto;

     (c) (i) statutory Liens of landlords, (iii) Liens of carriers, warehousemen, mechanics,
materialmen and (iii) other Liens arising in the ordinary course of business and in existence less
than 90 days from the date of creation thereof for amounts not yet due or which are being contested
in good faith by appropriate proceedings diligently conducted, and with respect to which adequate
reserves are being maintained in accordance with GAAP, which Liens are not yet exercisable to
effect the sale or seizure of property subject thereto;

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     (d) Liens incurred or deposits made in the ordinary course of business (i) in connection
with workers’ compensation, unemployment insurance and other types of social security benefits
(other than any Lien imposed by ERISA), (ii) in connection with automobile, liability or casualty
insurance, (iii) to secure the performance of tenders, bids, leases, surety and appeal bonds,
contracts (other than for the repayment of Indebtedness), statutory obligations and other similar
obligations or (iv) arising as a result of progress payments under government contracts;

     (e) easements (including reciprocal easement agreements and utility agreements),
rights-of-way, covenants, consents, reservations, encroachments, variations and zoning and other
restrictions, charges or encumbrances (whether or not recorded), which do not interfere materially
with the ordinary conduct of the business of SEI or any Subsidiary and which do not materially
detract from the value of the property to which they attach or materially impair the use thereof by
SEI or any Subsidiary;

     (f) purchase money Liens to secure Indebtedness permitted under Section 7.05(d)(i)
and incurred to purchase fixed assets (or, to the extent permitted by Section 7.05(f), any
Indebtedness extending the maturity of, or renewing, refunding or refinancing, in whole or in part,
such Indebtedness); provided, in each case, that such Indebtedness represents not less than
85% of the purchase price of such assets as of the date of purchase thereof and no property other
than the assets so purchased secures such Indebtedness;

     (g) Liens arising in connection with Capital Leases permitted under Section
7.05(d)(i), provided that no such Lien shall extend to any Collateral or to any other
property other than the assets subject to such Capital Leases;

     (h) Liens on specific assets (other than any Equity Interests of any Subsidiary of SEI)
securing Acquired Indebtedness permitted under Section 7.05(d)(ii) (or, to the extent
permitted by Section 7.05(f), any Indebtedness extending the maturity of, or renewing,
refunding or refinancing, in whole or in part, such Indebtedness); provided, in each case,
that (i) no such Lien extends to any property other than the property acquired (or the property of
the Person acquired), and (ii) the aggregate principal amount of all Indebtedness secured by such
Liens does not exceed $50,000,000 at any time; and

     (i) Liens in favor of SEI or any SEI Guarantor.

     7.05 Indebtedness. Incur, create, assume or permit to exist any Indebtedness, howsoever
evidenced, except:

     (a) Indebtedness existing as of the Effective Date as set forth either (i) in Schedule
7.05(a)(i) with respect to SEI and its Subsidiaries on a consolidated basis (including without
limitation the Senior Indenture Notes, the Seller Financed Indebtedness and Non-Compete
Liabilities) or (ii) in Schedule 7.05(a)(ii) with respect to any Indebtedness owing by any
Subsidiary of SEI that is not a Guarantor to SEI or any SEI Guarantor; provided that except
as expressly set forth in (f) and (h) below, none of the instruments and agreements evidencing or
governing such Indebtedness shall be amended, modified or supplemented after the Effective

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Date in any manner that would be less favorable in any material respect to the Administrative Agent
and the Lenders than as in effect on the Effective Date;

     (b) Indebtedness owing to the Administrative Agent or any Lender in connection with this
Agreement, any Note or other Loan Document (including with respect to Existing Letters of Credit);

     (c) the endorsement of negotiable instruments for deposit or collection or similar
transactions in the ordinary course of business;

     (d) (i) purchase money Indebtedness described in Section 7.04(f) and Capital Leases
described in Section 7.04(g), and (ii) secured Acquired Indebtedness described
in Section 7.04(h);

     (e) obligations (contingent or otherwise) of SEI 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 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, and not for purposes of
speculation or taking a “market view;” 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;

     (f) Indebtedness extending the maturity of, or renewing, refunding or refinancing, in
whole or in part, the Indebtedness permitted under clause (a) or clause (d) above, provided
that that (i) the aggregate principal amount of such extended, renewed, refunded or refinanced
Indebtedness shall not be increased by such action (other than by amounts required to pay any fees,
premium or transaction costs in connection with such extension, renewal, refunding or refinancing),
(ii) the weighted average life of such Indebtedness shall not be less than the weighted average
life of the Indebtedness extended, renewed, refunded or refinanced thereby, (iii) the maturity date
of such Indebtedness shall not be before the maturity date of the Indebtedness extended, renewed,
refunded or refinanced thereby, (iv) the group of direct or contingent obligors on such
Indebtedness shall not be expanded as a result of any such action, (v) the terms relating to
collateral (if any) or subordination (if any) of such Indebtedness, or any instrument or agreement
entered into in connection therewith, shall be no less favorable in any material respect to the
Lenders, (vi) immediately before and immediately after giving effect to any such extension,
renewal, refunding or refinancing, no Default or Event of Default shall have occurred and be
continuing, and (vii) in the case of any such Indebtedness that extends, renews, refunds or
refinances the Senior Indenture Notes in whole or in part, the earliest maturity (including any
mandatory prepayments and “put” options of the holders thereof, other than customary and usual
mandatory prepayments and put rights or repurchase obligations arising as a result of a change in
control (so long as such change in control provision is not more restrictive than the Change of
Control provided herein) and customary and usual obligations requiring prepayments or repurchases
with the proceeds of asset sales in the event such proceeds are not used or required to be used to
reinvest or pay down senior indebtedness) of any such Indebtedness is not earlier than the date
that is six months after the Maturity Date;

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     (g) unsecured intercompany Indebtedness for loans and advances made (i) by SEI to any SEI
Guarantor, (ii) by any SEI Guarantor to SEI or any SEI Guarantor, (iii) by any PR Borrower or any
PR Guarantor to SEI, any SEI Guarantor, any PR Guarantor or any PR Borrower, (iv) by any Subsidiary
that is not a Borrower or a Guarantor to SEI or any of its Subsidiaries, (v) in addition to the
Indebtedness outstanding as of the Effective Date which is set forth on Schedule
7.02(a)(ii), by any Borrower or any Guarantor to any Subsidiary that is not a Borrower or a
Guarantor in an aggregate amount not to exceed $10,000,000 at any time outstanding, and (vi) in
addition to the Indebtedness outstanding as of the Effective Date which is set forth on
Schedule 7.02(a)(ii), by SEI or any SEI Guarantor to any PR Borrower or any PR Guarantor,
subject to the PR Downstream Limit;

     (h) one or more issuances of Refinancing Indebtedness in a maximum aggregate principal
amount not to exceed the Maximum Specified Additional Debt Amount in effect at the time of such
issuance, so long as (i) no Default has occurred and is continuing at the time of, or would result
from, such issuance, and (ii) 100% of the net proceeds thereof is used to repay outstanding amounts
under the Senior Indenture Notes (including interest, premium, fees and expenses in connection
therewith) in connection with a tender or call for all or substantially all thereof;

     (i) additional unsecured Indebtedness of SEI not otherwise covered by clauses (a) through
(h) above and clauses (j) through (l) below, provided that (i) such Indebtedness is either
not guaranteed by any Subsidiary of SEI or is expressly subordinated to the Obligations on terms
reasonably satisfactory to the Administrative Agent, (ii) no Default has occurred and is continuing
at the time of, or would result from, such issuance or incurrence, and (iii) in the event any
issuance or incurrence of any such Indebtedness, whether in a single transaction or in a series of
related transactions, is in a maximum principal amount in excess of $50,000,000, SEI shall have
delivered a Compliance Certificate prepared on an historical pro forma basis as of the most recent
date for which financial statements have been furnished pursuant to Section 5.06(a) or
Section 6.01(a) or (b), which certificate shall demonstrate that no Default or
Event of Default would exist immediately after giving effect to the incurrence or issuance of such
Indebtedness;

     (j) additional unsecured Indebtedness of SEI or any SEI Guarantor not otherwise covered by
clauses (a) through (i) above and clauses (k) through (l) below, which Indebtedness may be
guaranteed by SEI or any SEI Guarantor (but, notwithstanding Section 7.05(k) below, not by
any Subsidiary of SEI that is not a SEI Guarantor), so long as no Default has occurred and is
continuing at the time of, or would result from, such issuance or incurrence, and such Indebtedness
is issued or incurred on terms and conditions that are either (A) typical for the issuance of high
yield notes at such time and otherwise no more restrictive than, or less advantageous to the
Lenders under, this Agreement (including terms of maturity, amortization, security and priority),
or (B) reasonably satisfactory to the Administrative Agent; provided that (i) if SEI does
not demonstrate that, after giving effect to any such Indebtedness, (A) the Consolidated Adjusted
Leverage Ratio is less than or equal to 4.25 to 1.00 and (B) the Consolidated Senior Secured
Leverage Ratio is less than or equal to 2.00 to 1.00, then the maximum principal amount of all such
Indebtedness permitted under this Section 7.05(j) shall not exceed $150,000,000 at any time
outstanding, and (ii) in the event any issuance or incurrence of any such Indebtedness, whether in
a single transaction or in a series of related transactions, is in a maximum principal amount in
excess of $50,000,000, SEI shall have delivered a

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Compliance Certificate prepared on an historical pro forma basis as of the most recent date
for which financial statements have been furnished pursuant to Section 5.06(a) or
Section 6.01(a) or (b), which certificate shall demonstrate that no Default or
Event of Default would exist immediately after giving effect to the incurrence or issuance of such
Indebtedness;

     (k) the guarantee by SEI or any Subsidiary of any Indebtedness of SEI or any SEI Guarantor
that was permitted to be incurred, created, assumed or to exist by another provision of this
Section 7.05 (except to the extent any such guarantee is prohibited by the provisions
permitting such Indebtedness); and

     (l) unsecured Indebtedness of SEI or any Subsidiary in respect of performance bonds,
worker’s compensation claims, surety or appeal bonds and payment obligations in connection with
self insurance or similar obligations, in each case to the extent incurred in the ordinary course
of business.

     7.06 Transfer of Assets. Sell, lease, transfer or otherwise Dispose of any assets other
than:

     (a) Dispositions of inventory or trust fund assets in the ordinary course of business;

     (b) Dispositions of tangible real and personal property which, in the aggregate during any
fiscal year (without carrying forward any unused amount from a prior fiscal year), have a fair
market value, taken together with the fair market value of all De Minimis Dispositions permitted by
clause (j) below, of $6,500,000 or less and is not replaced by tangible real and personal property
having at least equivalent value;

     (c) transfers of assets necessary to give effect to merger or consolidation transactions
permitted by Section 7.08;

     (d) the Disposition of Eligible Securities and other marketable securities so long as such
Disposition is made in the ordinary course of management of the investment portfolio of SEI and its
Subsidiaries;

     (e) transfers by SEI or any Subsidiary of all or a portion of the Subsidiary Securities of
any Subsidiary to one or more SEI Guarantors, so long as any SEI Guarantor to which such transfer
is made executes a Pledge Agreement or a Pledge Agreement Supplement, as applicable, with respect
to such Subsidiary Securities and otherwise takes such actions and delivers such documents as are
reasonably deemed necessary by the Collateral Agent to perfect the security interest of the
Collateral Agent in such Subsidiary Securities;

     (f) other Asset Dispositions after the Effective Date in an aggregate amount not to exceed
$175,000,000, provided that (i) such Asset Disposition shall be for consideration not less
than the fair market value of the assets so Disposed, such fair market value to be evidenced by a
resolution of the Board of Directors of SEI or the applicable Subsidiary set forth in a certificate
of a Responsible Officer of SEI delivered to the Administrative Agent with respect to any Asset
Disposition yielding Adjusted Disposition Proceeds in excess of $20,000,000, (ii) for any Asset
Disposition yielding Adjusted Disposition Proceeds in excess of $10,000,000, not less than
seventy-five percent (75%) of the total consideration received therefor shall be in cash, (iii) no

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Default or Event of Default shall have occurred and be continuing either immediately prior to
or immediately after giving effect to such Asset Disposition, (iv) with respect to any Asset
Disposition yielding Adjusted Disposition Proceeds in excess of $20,000,000, SEI shall have
furnished to the Administrative Agent (A) pro forma historical financial statements as of the end
of the most recently completed fiscal quarter of SEI, if applicable, giving effect to such Asset
Disposition and (B) a certificate in the form of Exhibit D prepared on a historical pro
forma basis as of the most recent date for which financial statements have been furnished pursuant
to Section 5.06(a) or Section 6.01(a) or (b) giving effect to such Asset
Disposition, which certificate shall demonstrate that no Default or Event of Default would exist
immediately after giving effect thereto, and (v) the aggregate amount of all such Asset
Dispositions in any fiscal year of SEI shall not exceed $60,000,000;

     (g) transfers of assets made (i) by SEI or any SEI Guarantor to any SEI Guarantor, (ii) by
any PR Borrower or any PR Guarantor to any SEI Guarantor, any PR Guarantor or any PR Borrower,
(iii) by any Subsidiary that is not a Borrower or a Guarantor to any other Subsidiary, (iv) by any
Borrower or any Guarantor to any Subsidiary that is not a Borrower or a Guarantor with an aggregate
fair market value for all such transfers not to exceed $4,000,000 during any fiscal year (without
carrying forward any unused amount from a prior fiscal year), and (v) by SEI or any SEI Guarantor
to any PR Borrower or any PR Guarantor, subject to the PR Downstream Limit;

     (h) the Disposition of Foreign Cash Equivalents so long as such Disposition is made in the
ordinary course of management of the investment portfolio of SEI and its Subsidiaries;

     (i) any sale and leaseback transaction permitted by Section 7.14; and

     (j) De Minimis Dispositions after the Effective Date which, in the aggregate during any
fiscal year (without carrying forward any unused amount from a prior fiscal year), have a fair
market value, taken together with the fair market value of all Dispositions permitted by clause (b)
above, of $5,000,000 or less.

     7.07 Investments. Make any Investments, except:

     (a) Investments in securities of any Person acquired in an Acquisition permitted
hereunder;

     (b) Investments in Eligible Securities and other marketable securities in the ordinary
course of management of the investment portfolio of SEI and its Subsidiaries;

     (c) Investments existing as of the date hereof and as set forth in Schedule 5.04,
Schedule 5.05 or Schedule 7.07(c), provided that this Section
7.07(c) shall continue to apply to any Investments identified on any such schedule that are
transferred from the holder thereof on the Effective Date to SEI or one or more of its Subsidiaries
in compliance with Section 7.06(g);

     (d) accounts receivable arising and trade credit granted in the ordinary course of
business (including loans or advances made to customers to finance the purchase of goods and
services sold or provided by SEI and its Subsidiaries) and any securities received in satisfaction

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or partial satisfaction thereof in connection with accounts of financially troubled Persons to
the extent reasonably necessary in order to prevent or limit loss;

     (e) Investments (including loans, advances and equity investments) (i) by SEI or any SEI
Guarantor in SEI or any SEI Guarantor, (ii) by any PR Borrower or any PR Guarantor in SEI, any SEI
Guarantor, any PR Guarantor or any PR Borrower, (iii) by any Subsidiary that is not a Borrower or a
Guarantor in any other Subsidiary, and (iv) in addition to the outstanding Investments as of the
Effective Date which are set forth on Schedule 7.07(c), by SEI or any SEI Guarantor in any
PR Borrower or any PR Guarantor, subject to the PR Downstream Limit;

     (f) to the extent not otherwise permitted by the other subsections of this Section
7.07, Investments consisting of loans, advances, equity interests and debt securities owned by
any Person acquired in an Acquisition permitted hereunder (but excluding Investments acquired by
such Person in contemplation of such Acquisition); provided that (i) within one hundred
eighty (180) days of the consummation of the related Acquisition such Investments shall be
liquidated by SEI or the applicable Subsidiary, as appropriate, so that the aggregate outstanding
book value or fair market value, whichever is greater, of all Investments acquired in all
Acquisitions shall not then exceed $15,000,000, and (ii) with respect to any such Investments that
remain in place on the day that is one hundred eighty (180) days after the consummation of the
related Acquisition, SEI or the applicable Subsidiary, as appropriate, shall have executed and
delivered all documents and taken all such other action as the Administrative Agent and the
Collateral Agent shall reasonably deem to be necessary and sufficient to confer on the Collateral
Agent for the benefit of the Senior Secured Parties a duly perfected Lien thereon subject only to
Permitted Liens;

     (g) other Investments in an aggregate principal amount during any fiscal year of SEI not
to exceed $15,000,000 plus amounts previously invested pursuant to this Section
7.07(g) and returned to the applicable Person (either as a repayment of a loan or advance or
return of equity capital) during such fiscal year; provided, that any portion of an amount
that is permitted to be invested in a fiscal year, if not invested in such fiscal year, may be
carried over for investment in successive fiscal years beginning with the fiscal year ending
October 31, 2010;

     (h) any investment by a Subsidiary that is not a Domestic Subsidiary in Foreign Cash
Equivalents;

     (i) any investment made as a result of the receipt of non-cash consideration from an Asset
Disposition in connection with Section 7.06(f); and

     (j) funds placed in escrow accounts or trust funds (including the deposit of the amount of
the Florida Bond Obligation in a trust fund in lieu of the Florida Bond Obligation) for purposes of
future delivery of property, merchandise or services or care and maintenance of cemetery property,
in each case in the ordinary course of business.

     7.08 Merger or Consolidation. (a) Consolidate with or merge into any other Person,
or (b) permit any other Person to merge into it, or (c) sell, transfer, lease or otherwise dispose of
all or a substantial part of its assets (other than sales permitted under Section 7.06); provided, that
(i) any SEI Guarantor may merge or transfer all or substantially all of its assets into or

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consolidate with SEI or any SEI Guarantor, and (ii) any other Person may merge into or
consolidate with SEI or any SEI Guarantor, provided SEI or such SEI Guarantor is the surviving
party, (iii) subject to Section 6.19, any Subsidiary may merge into or consolidate with any
other Person in order to consummate an Acquisition permitted by Section 7.02, and (iv)
subject to Section 6.19, any Subsidiary that is not a Borrower or a Guarantor may merge or
transfer all or substantially all of its assets into or consolidate with SEI or any other
Subsidiary.

     7.09 Restricted Payments. Make any Restricted Payment or apply or set apart any of their
assets therefor or agree to do any of the foregoing except SEI may make any Restricted Payment
described in clause (a), (b) or (c) of the definition thereof, provided that (i) after
giving effect to each such Restricted Payment (other than conversions of or similar payments made
with respect to the Senior Indenture Notes or any convertible notes that refinance the Senior
Indenture Notes, in each case to the extent permitted to be made by Section 7.17), the
aggregate amount of Restricted Payments made in the then current fiscal year shall not exceed the
Maximum Restricted Payment Amount then in effect for such fiscal year, and (ii) both before and
after giving effect to such Restricted Payment no Default or Event of Default shall have occurred
or be continuing.

     7.10 Transactions with Affiliates. Other than transactions permitted under Sections
7.07 and 7.08 or transactions with an individual fair market value of less than
$1,000,000 or an aggregate fair market value of $15,000,000 taken together with all such
transactions, enter into any transaction after the Effective Date, including, without limitation,
the purchase, sale, lease or exchange of property, real or personal, or the rendering of any
service, with any Affiliate of SEI other than an SEI Guarantor, except (a) that such Persons may
render services to SEI or its Subsidiaries for compensation at the same rates generally paid by
Persons engaged in the same or similar businesses for the same or similar services, (b) that SEI or
any Subsidiary may render services to such Persons for compensation at the same rates generally
charged by SEI or such Subsidiary and (c) any purchase, sale, lease or exchange of property, real
or personal, otherwise permitted hereunder at market rates for similar properties; provided
that any such transaction in (a), (b) or (c) above must be in the ordinary course of business and
pursuant to the reasonable requirements of SEI’s (or any Subsidiary’s) business consistent with
past practice of SEI and its Subsidiaries and upon fair and reasonable terms no less favorable to
SEI (or any Subsidiary) than would be obtained in a comparable arm’s-length transaction with a
Person not an Affiliate.

     7.11 Compliance with ERISA, the Code and Foreign Benefit Laws. With respect to any Plan,
Foreign Government Scheme or Arrangement or Foreign Plan:

     (a) permit the occurrence of any ERISA Event which would result in a liability on the part of
any Borrower or any ERISA Affiliate to the PBGC or to any Governmental Authority that could
reasonably be expected to result in a Material Adverse Effect;

     (b) fail to comply with the Pension Funding Rules with respect to each Plan subject thereto;

     (c) fail to make any contribution or payment to any Multiemployer Plan which any Borrower or
any ERISA Affiliate may be required to make under any agreement relating to such Multiemployer
Plan, or any law pertaining thereto;

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     (d) engage, or permit any Borrower or any ERISA Affiliate to engage, in any prohibited
transaction under Section 406 of ERISA or Sections 4975 of the Code for which a civil penalty
pursuant to Section 502(i) of ERISA or a tax pursuant to Section 4975 of the Code may be imposed;

     (e) permit the establishment of any defined benefit plan that is subject to ERISA or Plan
providing post-retirement medical benefits that is subject to ERISA, which establishment could
result in liability to any Borrower or any ERISA Affiliate or increase the obligation of any
Borrower or any ERISA Affiliate to a Multiemployer Plan;

     (f) establish or amend any Plan, which establishment or amendment could result in liability to
any Borrower or any ERISA Affiliate that could reasonably be expected to result in a Material
Adverse Effect, or increase the obligation of SEI or any ERISA Affiliate to a Multiemployer Plan
that could reasonably be expected to result in a Material Adverse Effect; or

     (g) fail, or permit any Borrower or any ERISA Affiliate to fail, to establish, maintain and
operate each Foreign Government Scheme or Arrangement and Foreign Plan in compliance in all
material respects with the provisions of ERISA, the Code, all applicable Foreign Benefit Laws and
all other applicable laws and the regulations and interpretations thereof.

     7.12 Fiscal Year. Change its fiscal year unless (i) such change is, or is effected in
conjunction with, a change in the fiscal year required by applicable law or by binding order of an
applicable Governmental Authority, (ii) not later than the earlier to occur of sixty (60) days
prior to the effective date of any such change in its fiscal year or fifteen (15) days after
receiving notice of the order or law requiring such change, SEI shall have given the Administrative
Agent notice of its intention (whether absolute or conditioned on the receipt of the application to
it of any such law or order) to make such change and specifying such change, and (iii) not later
than fifteen (15) days prior to any such change in the fiscal year becoming effective the Borrowers
and the Required Lenders have entered into an appropriate amendment to this Agreement with respect
to the covenants set forth in Article VII appropriately reflecting the impact of such
change of the fiscal year to the satisfaction of the Required Lenders; provided that SEI
may, with the prior written consent of the Administrative Agent, change its calendar fiscal year to
a 5-4-4 fiscal year cycle.

     7.13 Dissolution, Etc. Wind up, liquidate or dissolve (voluntarily or involuntarily) or
commence or suffer any proceedings seeking any such winding up, liquidation or dissolution, except
(a) in connection with a merger or consolidation permitted pursuant to Section 7.08, or (b)
with respect to any Subsidiary that at such time both (i) is inactive and (ii) has total assets
with a net book value not greater than $100,000.

     7.14 Limitations on Sales and Leasebacks. Enter into any arrangement or arrangements with any
Person providing for the leasing by SEI or any Subsidiary of real or
personal property, whether now owned or hereafter acquired, in a single transaction or series
of related transactions, which has been or is to be sold or transferred by SEI or any Subsidiary to
such Person or to any other Person to whom funds have been or are to be advanced by such Person on
the security of such property or rental obligations of SEI or any Subsidiary other than

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any such sale and leaseback of that certain portion of ground bearing municipal address 1333
South Clearview Parkway, Jefferson, Louisiana 70121, together with all improvements thereon.

     7.15 Change in Control. Cause, suffer or permit to exist or occur any Change of Control.

     7.16 Negative Pledge Clauses. Except for limitations contained in the Senior 2011 (6.50%)
Indenture or, to the extent satisfactory to the Administrative Agent in its reasonable discretion,
in the documentation for the Refinancing Indebtedness, enter into or cause, suffer or permit to
exist any agreement with any Person other than the Collateral Agent, the Administrative Agent and
the Lenders pursuant to this Agreement or any other Loan Documents which prohibits or limits the
ability of any of SEI or any Subsidiary to create, incur, assume or suffer to exist any Lien upon
any of its property, assets or revenues, whether now owned or hereafter acquired; provided
that the foregoing shall not apply to (i) customary restrictions and conditions contained in
agreements relating to the sale of a Subsidiary pending such sale, so long as each such restriction
and condition applies only to the Subsidiary that is to be sold and such sale is a Disposition
permitted under this Agreement, (ii) restrictions or conditions imposed by any agreement relating
to Indebtedness secured by any Lien permitted by Section 7.04(f), (g) or
(h) so long as each such restriction or condition applies only to the property or assets on
which a Lien is, and is permitted to be, granted to secure such Indebtedness, (iii) customary
provisions in leases restricting the assignment thereof, and (iv) restrictions governing
Indebtedness permitted under Section 7.05(i) or 7.05(j) that do not in any manner
restrict the ability of any Borrower, any SEI Guarantor or any PR Guarantor to grant first-priority
Liens on any of their properties or assets to secure the Obligations (including with respect to any
extension, renewal, replacement or refinancing thereof).

     7.17 Prepayments, Etc., of Indebtedness.

     (a) Prepay, redeem, purchase, defease or otherwise satisfy any Indebtedness of the type
permitted by Section 7.05(a), (d), (f), (h), (i) or
(j) prior to the scheduled maturity thereof or make any payment in violation of any
subordination provisions applicable thereto, except for (i) any refinancing with the proceeds of
Indebtedness permitted by Section 7.05(f), (ii) a call of, or tender for, all or
substantially all of the Senior Indenture Notes using any combination of an issuance of Refinancing
Indebtedness and Loans hereunder (other than any utilization of the increase option provided in
Section 2.14), (iii) the prepayment of the Seller Financed Indebtedness, (iv) the
prepayment of Acquired Indebtedness, and (v) other prepayments and repurchases of Indebtedness so
long as such prepayment or repurchase is not made with the proceeds of any Loan and either (x)
there are at least $35,000,000 of Unencumbered Domestic Liquid Assets after giving effect to such
prepayment or repurchase and no Loans have been made within the thirty (30) days preceding such
prepayment or repurchase or (y) the aggregate amount of cash used to make such prepayment or
repurchase pursuant to this clause (y), when added to the aggregate amount of cash used to make any
other prepayments or repurchases
within the last twelve (12) months pursuant to either clause (x) or this clause (y), does not
exceed $25,000,000 in the aggregate.

     (b) Amend, modify or change in any manner any term or condition of any Indebtedness other than
amendments, modifications or changes (i) pursuant to Section 7.05(f) or

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that otherwise meet the requirements in the proviso to clause (f) of Section 7.05
(as if the amended, modified or changed terms or conditions were contained in Indebtedness
extending, renewing, refunding or refinancing such Indebtedness), (ii) with respect to any
Indebtedness incurred after the Effective Date that was permitted to be incurred pursuant to
Section 7.05 without the approval of the terms thereof by the Administrative Agent, so long
as, as so amended, modified or changed, such Indebtedness would have been permitted to be incurred
without the approval of the Administrative Agent, or (iii) with respect to Indebtedness incurred
after the Effective Date the terms of which were required by Section 7.05 to be approved by
the Administrative Agent, so long as such amendment, modification or change does not result in the
terms of any such Indebtedness being less favorable in any material respect to the Administrative
Agent and the Lenders.

     7.18 Limitations on Upstreaming. Enter into any agreement restricting or limiting the payment
of dividends or other distributions or the transfer of assets from any Subsidiary to SEI or to any
other Subsidiary owning Subsidiary Securities of such Subsidiary.

ARTICLE VIII.

EVENTS OF DEFAULT AND REMEDIES

     8.01 Events of Default. Any of the following shall constitute an Event of Default:

     (a) Non-Payment. Any 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 (3) Business 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

     (b) Specific Covenants. Any Borrower fails to perform or observe (i) any term,
covenant or agreement contained in any of Section 6.07, 6.11, 6.12 or
6.19 or Article VII (other than Section 7.11), (ii) any term, covenant or
agreement set forth in Section 7.11 and such default is not cured within five (5) days of
its occurrence, or (iii) any term, covenant or agreement set forth in Section 6.01 and such
default is not cured within fifteen (15) days of its occurrence; or

     (c) Other Defaults. Any Loan Party (i) fails to perform or observe any other
covenant, agreement or provision contained in this Agreement or the Notes (other than as described
in clauses (a) or (b) above) and such default shall continue for thirty (30) or more days after the
earlier of receipt of notice of such default by a Responsible Officer from the Administrative Agent
or an Executive Officer of SEI becomes aware of such default, or (ii) fails in the performance or
observance of, or any other default shall occur under, any covenant, agreement or provision
contained in any of the other Loan Documents (beyond any applicable grace period, if any, contained
therein) or in any instrument or document evidencing or creating any obligation, guaranty, or Lien
in favor of the Collateral Agent, the Administrative Agent or
any of the Lenders or delivered to the Collateral Agent, the Administrative Agent or any of
the Lenders in connection with or pursuant to this Agreement or any of the Obligations, or if any
Loan Document ceases to be in full force and effect (other than as expressly provided for

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hereunder or thereunder or with the express written consent of the Administrative Agent), or
if without the written consent of the Lenders, this Agreement or any other Loan Document shall be
disaffirmed or shall terminate, be terminable or be terminated or become void or unenforceable for
any reason whatsoever (other than as expressly provided for hereunder or thereunder or with the
express written consent of the Administrative Agent); or

     (d) Representations and Warranties. Any representation, warranty, certification or
statement of fact made or deemed made by or on behalf of any 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 when made or deemed made; or

     (e) Cross-Default. (i) SEI or any Subsidiary (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 undrawn committed or available amounts
and including amounts owing to all creditors under any combined or syndicated credit arrangement)
of more than $15,000,000, or (B) fails to observe or perform any other agreement or condition
relating to any such Indebtedness or Guarantee 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
be demanded or to become due or to be repurchased, prepaid, defeased or redeemed (automatically or
otherwise), or an offer to repurchase, prepay, defease or redeem such Indebtedness to be made,
prior to its stated maturity, or such Guarantee to become payable or cash collateral in respect
thereof to be demanded; or (ii) there occurs 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 SEI 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 SEI or any Subsidiary is
an Affected Party (as so defined) and, in either event, the Swap Termination Value owed by SEI or
such Subsidiary as a result thereof is greater than $15,000,000; or

     (f) Insolvency Proceedings, Etc. Any Loan Party or any of its Subsidiaries 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

     (g) Inability to Pay Debts; Attachment. (i) SEI or any 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 any

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property of any such Person with an aggregate fair market value in excess of $10,000,000 and
is not released, vacated or fully bonded within 30 days after its issue or levy; or

     (h) Judgments. There is entered against SEI or any Subsidiary a final judgment or
order for the payment of money in an aggregate amount exceeding $15,000,000 (to the extent not
covered by independent third-party insurance as to which the insurer does not dispute coverage),
and (i) enforcement proceedings are commenced by any creditor upon such judgment or order to attach
or levy upon the assets of SEI and its Subsidiaries to enforce any such judgment, or (ii) there is
a period of 30 consecutive days during which a stay of enforcement of such judgment, by reason of a
pending appeal or otherwise, is not in effect; or

     (i) ERISA. (i) An ERISA Event occurs with respect to a Pension Plan or Multiemployer
Plan which has resulted or could reasonably be expected to result in liability of SEI under Title
IV of ERISA to the Pension Plan, Multiemployer Plan or the PBGC in an aggregate amount in excess of
$10,000,000, or (ii) SEI or any ERISA Affiliate fails to pay when due, after the expiration of any
applicable grace period, any installment payment with respect to its withdrawal liability under
Section 4201 of ERISA under a Multiemployer Plan in an aggregate amount in excess of $10,000,000 or
(iii) an event occurs with respect to a Foreign Government Scheme or Arrangement which has resulted
or could reasonably be expected to result in liability of SEI in an aggregate amount in excess of
$10,000,000; or

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

     (k) Security Instruments. Any Security Instruments after delivery thereof pursuant to
Section 4.01 or 6.19 shall for any reason (other than pursuant to the terms
thereof) cease to create a valid and perfected first priority Lien (subject to Liens permitted by
Section 7.04) on the Collateral purported to be covered thereby; or

     (l) Suspension or Operations. SEI or any Subsidiary shall, other than in the ordinary
course of business (as determined by past practices), suspend all or any part of its operations
material to the conduct of the business of SEI, on a consolidated basis, for a period of more than
60 days.

     8.02 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 the L/C Issuer
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

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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 Borrowers;

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

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

     (e) direct the Collateral Agent to exercise on behalf of the Senior Secured Parties all rights
and remedies available to the Senior Secured Parties under the Security Instruments;

provided, however, that upon the occurrence of an actual or deemed entry of an
order for relief with respect to any Borrower under the Bankruptcy Code of the United States or any
similar laws of Puerto Rico, the obligation of each Lender to make Loans and any obligation of the
L/C Issuer 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 Borrowers 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.

The Administrative Agent agrees to notify SEI promptly after taking any of the actions set forth in
clauses (a), (b) or (c) above, provided that the failure to give such notice shall not
affect the validity of any such action.

     8.03 Application of Funds. After the exercise of remedies provided for in Section
8.02 (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 8.02), any amounts received on account of the Obligations, subject to the
provisions of Sections 2.07, 2.18 and 2.19, 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 the Collateral Agent and amounts payable under Article III)
payable to the Administrative Agent and the Collateral Agent, in each case, its capacity as such;

     Second, to payment of that portion of the Obligations constituting fees, indemnities
and other amounts (other than principal, interest, Letter of Credit Fees and Obligations then owing
under Secured Hedge Agreements and Secured Cash Management Agreements) payable to the Lenders and
the L/C Issuer (including fees, charges and disbursements of counsel to the respective Lenders and
the L/C Issuer 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 (other
than Obligations then owing under Secured Hedge Agreements and Secured Cash Management
Agreements), ratably among the Lenders and the L/C Issuer in proportion to the respective amounts
described in this clause Third payable to them;

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

     Fifth, to the Administrative Agent for the account of the L/C Issuer, to Cash
Collateralize that portion of L/C Obligations comprised of the aggregate undrawn amount of Letters
of Credit to the extent not otherwise Cash Collateralized by the Borrowers pursuant to Sections
2.03 and 2.18;

     Sixth, to payment of that portion of the Obligations constituting unpaid Obligations
then owing under Secured Hedge Agreements and Secured Cash Management Agreements, ratably among the
Lenders, the L/C Issuer, the Hedge Banks and the Cash Management Banks in proportion to the
respective amounts described in this clause Sixth held by them;

     Seventh, to the payment of all other Obligations of the Loan Parties owing under or in
respect of the Loan Documents that are due and payable to the Administrative Agent and the Lenders,
or any of them, on such date, ratably based on the respective aggregate amounts of all such
Obligations owing to the Administrative Agent and the Lenders on such date; and

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

Subject to Sections 2.03(c) and 2.18, amounts used to Cash Collateralize the
aggregate undrawn amount of Letters of Credit pursuant to clause Fifth 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.

     Notwithstanding the foregoing, Obligations arising under Secured Cash Management Agreements
and Secured Hedge Agreements shall be excluded from the application described above if the
Administrative Agent has not received written notice thereof, together with such supporting
documentation as the Administrative Agent may request, from the applicable Cash Management Bank or
Hedge Bank, as the case may be. Each Cash Management Bank or Hedge Bank not a party to this
Agreement that has given the notice contemplated by the preceding sentence shall, by such notice,
be deemed to have acknowledged and accepted the appointment of the Administrative Agent and the
Collateral Agent pursuant to the terms of Article IX for itself and its Affiliates as if a
“Lender” party hereto.

ARTICLE IX.

ADMINISTRATIVE AGENT AND COLLATERAL AGENT

     9.01 Appointment and Authority. Each of the Lenders and the L/C Issuer hereby irrevocably
appoints Bank of America to act on its behalf as the Administrative Agent and the Collateral Agent
hereunder and under the other Loan Documents and authorizes the Administrative Agent and the
Collateral Agent to take such actions on its behalf and to exercise such powers as are delegated to
the Administrative Agent and the Collateral Agent, respectively,

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by the terms hereof or thereof, together with such actions and powers as are reasonably
incidental thereto. The provisions of this Article are solely for the benefit of the
Administrative Agent, the Collateral Agent, the Lenders and the L/C Issuer, and no Borrower nor any
other Loan Party shall have any rights as a third party beneficiary of any of such provisions.

     9.02 Rights as a Lender. The Person serving as the Administrative Agent or the Collateral
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 or the Collateral
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 and the Person
serving as or the Collateral Agent hereunder in their respective individual capacities. Each such
Person and their respective 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 SEI or any Subsidiary or other Affiliate thereof as if such Person were not the
Administrative Agent or the Collateral Agent hereunder and without any duty to account therefor to
the Lenders.

     9.03 Exculpatory Provisions. Neither the Administrative Agent nor the Collateral Agent shall
have any duties or obligations except those expressly set forth herein and in the other Loan
Documents. Without limiting the generality of the foregoing, neither the Administrative Agent nor
the Collateral Agent:

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

     (b) shall 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 or the Collateral 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 neither the Administrative Agent nor the Collateral Agent shall be
required to take any action that, in its opinion or the opinion of its counsel, may expose
the Administrative Agent or the Collateral Agent to liability or that is contrary to any
Loan Document or applicable law; and

     (c) shall, except as expressly set forth herein and in the other Loan Documents, have
any duty to disclose, nor shall any such Person be liable for the failure to disclose, any
information relating to any Borrower or any of its Affiliates that is communicated to or
obtained by the Person serving as the Administrative Agent or the Collateral Agent or any of
their respective Affiliates in any capacity.

     Neither the Administrative Agent nor the Collateral Agent shall 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
or the Collateral Agent shall believe in good faith shall be necessary, under the
circumstances as provided in Sections 10.01 and 8.02) or (ii) in the absence of its
own gross negligence or willful misconduct. Neither the Administrative Agent nor the Collateral
Agent shall be deemed to have

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knowledge of any Default unless and until notice describing such Default is given to the
Administrative Agent or the Collateral Agent, as applicable, by a Borrower, a Lender or the L/C
Issuer, and notice to the Administrative Agent or the Collateral Agent shall not constitute notice
to the other.

     Neither the Administrative Agent nor the Collateral Agent shall 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 IV or elsewhere herein, other than to confirm receipt of items expressly required
to be delivered to the Administrative Agent or the Collateral Agent, as applicable.

     9.04 Reliance by Administrative Agent and Collateral Agent. The Administrative Agent and the
Collateral Agent shall each 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 and the Collateral 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 L/C Issuer, the Administrative Agent may presume that such
condition is satisfactory to such Lender or the L/C Issuer unless the Administrative Agent shall
have received notice to the contrary from such Lender or the L/C Issuer prior to the making of such
Loan or the issuance of such Letter of Credit. The Administrative Agent and the Collateral Agent
may consult with legal counsel (who may be counsel for any 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.

     9.05 Delegation of Duties. The Administrative Agent and the Collateral Agent may each 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 or the
Collateral Agent, as applicable. The Administrative Agent, the Collateral 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 IX shall apply to
any such sub agent and to the Related Parties of the Administrative Agent or the Collateral 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 or Collateral Agent, as applicable.

     9.06 Resignation of Administrative Agent/Collateral Agent. Each of the Administrative Agent
and the Collateral Agent may at any time give notice of its resignation to

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the Lenders, the L/C Issuer and SEI. Upon receipt of any such notice of resignation, the
Required Lenders shall have the right, in consultation with SEI, 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 or Collateral Agent, as applicable, gives notice of its resignation, then the retiring
Administrative Agent or Collateral Agent, as applicable, may on behalf of the Lenders and the L/C
Issuer, appoint a successor Administrative Agent or Collateral Agent, as applicable, meeting the
qualifications set forth above; provided that if the Administrative Agent or the Collateral
Agent, as applicable, shall notify SEI 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 or Collateral Agent, as applicable, 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 or the Collateral
Agent on behalf of the Senior Secured Parties under any of the Loan Documents, the retiring
Administrative Agent or Collateral Agent, as applicable, shall continue to hold such collateral
security until such time as a successor Administrative Agent or Collateral Agent, as applicable, 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 the 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 or Collateral Agent, as applicable, 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 or Collateral Agent, as applicable, and the retiring Administrative
Agent or Collateral Agent, as applicable, 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 Borrowers to a successor Administrative
Agent shall be the same as those payable to its predecessor unless otherwise agreed among the
Borrowers and such successor. After the retiring Administrative Agent’s or Collateral Agent’s, as
applicable, 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 or Collateral Agent, as applicable, 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 or Collateral Agent, as applicable, was acting as Administrative
Agent or Collateral Agent, as applicable.

     Any resignation by Bank of America as Administrative Agent pursuant to this Section shall also
constitute its resignation as L/C Issuer, Swing Line Lender and Collateral Agent. 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, Swing Line Lender and Collateral Agent, (b) the retiring L/C Issuer, Swing Line Lender
and Collateral Agent 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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     9.07 Non-Reliance on Administrative Agent, Collateral Agent and Other Lenders. Each Lender
and the L/C Issuer acknowledges that it has, independently and without reliance upon the
Administrative Agent, the Collateral 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 the L/C Issuer also acknowledges that
it will, independently and without reliance upon the Administrative Agent, the Collateral 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.

     9.08 No Other Duties, Etc. Anything herein to the contrary notwithstanding, none of the
Arranger, any Syndication Agent, any Documentation Agent or any other similar title 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, the
Collateral Agent, a Lender or the L/C Issuer hereunder.

     9.09 Administrative Agent May File Proofs of Claim. In case of the pendency of any proceeding
under any Debtor Relief Law or any 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 any 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 Issuer, the Administrative Agent and the Collateral
Agent (including any claim for the reasonable compensation, expenses, disbursements and
advances of the Lenders, the L/C Issuer, the Administrative Agent and the Collateral Agent
and their respective agents and counsel and all other amounts due the Lenders, the L/C
Issuer, the Administrative Agent and the Collateral Agent under Sections 2.03(h) and
(i), 2.09 and 10.04) 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, the L/C Issuer and the
Collateral Agent 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, the L/C
Issuer and the Collateral Agent, to pay to the Administrative Agent any amount due for the
reasonable compensation, expenses, disbursements and advances of the Administrative Agent and its
agents and counsel, and any other amounts due the Administrative Agent under Sections 2.09
and 10.04.

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     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, the L/C Issuer or the Collateral Agent any
plan of reorganization, arrangement, adjustment or composition affecting the Obligations or the
rights of any Lender or the L/C Issuer or to authorize the Administrative Agent to vote in respect
of the claim of any Lender or the L/C Issuer in any such proceeding.

     9.10 Collateral and Guaranty Matters. The Lenders and the L/C Issuer irrevocably authorize
the Administrative Agent and the Collateral Agent, at their option and in their discretion,

     (a) to release any Lien on any property granted to or held by the Collateral Agent
under any Loan Document (i) upon termination of the Aggregate Commitments and payment in
full of all Obligations (other than contingent indemnification obligations) and the
expiration or termination of all Letters of Credit (other than Letters of Credit as to which
other arrangements satisfactory to the Administrative Agent and the L/C Issuer shall have
been made), (ii) that is sold or to be sold as part of or in connection with any sale
permitted hereunder or under any other Loan Document, including as provided in Section
3A.04, (iii) subject to Section 10.01, if approved, authorized or ratified in
writing by the Required Lenders, (iv) owned by a Guarantor upon release of such Guarantor
from its obligations under its Guaranty pursuant to clause (c) below or (v) as otherwise
permitted under the Loan Documents;

     (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 7.04(f); and

     (c) to release any Guarantor from its obligations under any Guaranty if such Person
ceases to be a Subsidiary as a result of a transaction permitted hereunder, including as
provided in Section 3A.04.

     Upon request by the Administrative Agent at any time, the Required Lenders will confirm in
writing the Administrative Agent’s or the Collateral Agent’s authority to release or subordinate
its interest in particular types or items of property, or to release any Guarantor from its
obligations under any Guaranty pursuant to this Section 9.10.

     9.11 Secured Cash Management Agreements and Secured Hedge Agreements. No Cash Management Bank
or Hedge Bank that obtains the benefit of the provisions of Section 8.03, any Guaranty or
any Collateral by virtue of the provisions hereof or of any Guaranty or any Security Instrument
shall have any right to notice of any action or to consent to, direct or object to any action
hereunder or under any other Loan Document or otherwise in respect of the Collateral (including the
release or impairment of any Collateral) or any other matters under the Loan Documents other than
in its capacity as a Lender and, in such case, only to the extent
expressly provided in the Loan Documents. Notwithstanding any other provision of this
Article IX to the contrary, neither the Administrative Agent nor the Collateral Agent shall
be required to verify the payment of, or that other satisfactory arrangements have been made with
respect to, Obligations arising under Secured Cash Management Agreements and Secured Hedge
Agreements unless the Administrative Agent has received written notice of such Obligations,

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together with such supporting documentation as the Administrative Agent may request, from the
applicable Cash Management Bank or Hedge Bank, as the case may be.

ARTICLE X.

MISCELLANEOUS

     10.01 Amendments, Etc. Except as provided in Section 2.14 with respect to an
Incremental Facility Amendment, no amendment or waiver of any provision of this Agreement or any
other Loan Document, and no consent to any departure by any Borrower or any other Loan Party
therefrom, shall be effective unless in writing signed by the Required Lenders and the Borrowers or
the applicable Loan Party, as the case may be, and acknowledged by the Administrative Agent, and
each such waiver or consent shall be effective only in the specific instance and for the specific
purpose for which given; provided, however, that no such amendment, waiver or
consent shall:

     (a) waive any condition set forth in Section 4.01(a) without the written consent of
each Lender;

     (b) extend or increase the Commitment of any Lender (or reinstate any Commitment terminated
pursuant to Section 8.02) without the written consent of such Lender;

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

     (d) reduce the principal of, or the rate of interest specified herein on, any Loan or L/C
Borrowing, or (subject to clause (v) of the second proviso to this Section 10.01) any fees
or other amounts payable hereunder or under any other Loan Document without the written consent of
each Lender directly affected thereby; provided, that only the consent of the Required
Lenders shall be necessary (i) to amend the definition of “Default Rate” or to waive any obligation
of the Borrowers to pay interest or Letter of Credit Fees at the Default Rate or (ii) to amend any
financial covenant hereunder (or any defined term used therein) even if the effect of such
amendment would be to reduce the rate of interest on any Loan or L/C Borrowing or to reduce any fee
payable hereunder;

     (e) change Section 2.13 or Section 8.03 in a manner that would alter the pro
rata sharing of payments required thereby without the written consent of each Lender;

     (f) change any provision of this Section or the definition of “Required Lenders” or any 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,
without the written consent of each Lender;

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     (g) except as expressly contemplated otherwise in this Agreement or the other Loan Documents,
release all or substantially all of the Guarantors or Collateral from the applicable Loan Documents
without the written consent of each Lender;

and, provided further, that (i) no amendment, waiver or consent shall, unless in
writing and signed by the L/C Issuer in addition to the Lenders required above, affect the rights
or duties of the L/C Issuer under this Agreement or any Issuer Document relating to any Letter of
Credit issued or to be issued by it; (ii) no amendment, waiver or consent shall, unless in writing
and signed by the Swing Line Lender in addition to the Lenders required above, affect the rights or
duties of the Swing Line Lender under this Agreement; (iii) 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; (iv) 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, (v) Section 10.06(h) may
not be amended, waived or otherwise modified without the consent of each Granting Lender all or any
part of whose Loans are being funded by an SPC at the time of such amendment, waiver or other
modification; and (vi) the Fee Letter may be amended, or rights or privileges thereunder waived, in
a writing executed only by the parties thereto. Notwithstanding anything to the contrary herein,
no Defaulting Lender shall have any right to approve or disapprove any amendment, waiver or consent
hereunder (and any amendment, waiver or consent which by its terms requires the consent of all
Lenders or each affected Lender may be effected with the consent of the applicable Lenders other
than Defaulting Lenders), except that (i) the Commitment of any Defaulting Lender may not be
increased or extended without the consent of such Lender and (ii) any amendment, waiver or consent
requiring the consent of all Lenders or each affected Lender that by its terms affects any
Defaulting Lender more adversely than other affected Lenders shall require the consent of such
Defaulting Lender.

     10.02 Notices; Effectiveness; Electronic Communication.

     (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 a Borrower, to such Borrower in care of SEI at the address, telecopier
number, electronic mail address or telephone number specified for SEI on Schedule
10.02;

     (ii) if to the Administrative Agent, the Collateral Agent, the L/C Issuer or the Swing
Line Lender, to the address, telecopier number, electronic mail address or telephone number
specified for such Person on Schedule 10.02; and

     (iii) if to any other Lender, to the address, telecopier number, electronic mail
address or telephone number specified in its Administrative Questionnaire (provided that

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notices delivered solely to the Person designated by a Lender on its Administrative
Questionnaire then in effect for the delivery of notices that may contain material
non-public information relating to the Borrowers shall still be effective if delivered to
such designated Person).

     Notices and other communications sent by hand or overnight courier service, or mailed by
certified or registered mail, shall be deemed to have been given when received; notices and other
communications 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 and other communications
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 Issuer hereunder may be delivered or furnished by electronic communication (including e
mail and Internet or intranet websites) pursuant to procedures approved by the Administrative
Agent, provided that the foregoing shall not apply to notices to any Lender or the L/C
Issuer pursuant to Article II if such Lender or the 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 SEI (for itself and on behalf of the Borrowers) 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, the
Collateral Agent or any of their respective Related Parties (collectively, the “Agent
Parties”) have any liability to any Borrower, any Lender, the L/C Issuer or any other Person
for

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losses, claims, damages, liabilities or expenses of any kind (whether in tort, contract or
otherwise) arising out of any Borrower’s, the Administrative Agent’s or the Collateral 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 any 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 SEI, the Administrative Agent, the Collateral
Agent, the L/C Issuer and the Swing Line Lender 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 SEI, the Administrative Agent, the Collateral Agent, the L/C
Issuer and the Swing Line Lender. In addition, each Lender agrees to 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.
Furthermore, each Public Lender agrees to cause at least one individual at or on behalf of such
Public Lender to at all times have selected the “Private Side Information” or similar designation
on the content declaration screen of the Platform in order to enable such Public Lender or its
delegate, in accordance with such Public Lender’s compliance procedures and applicable Law,
including United States Federal and state securities Laws, to make reference to Borrower Materials
that are not made available through the “Public Side Information” portion of the Platform and that
may contain material non-public information with respect to any Borrower or its securities for
purposes of United States Federal or state securities laws.

     (e) Reliance by Administrative Agent, the Collateral Agent, L/C Issuer and Lenders.
The Administrative Agent, the Collateral Agent, the L/C Issuer and the Lenders shall be entitled to
rely and act upon any notices (including telephonic Committed Loan Notices and Swing Line Loan
Notices) purportedly given by or on behalf of a 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. Each Borrower shall indemnify the Administrative Agent, the Collateral
Agent, the 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 any 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.

     10.03 No Waiver; Cumulative Remedies. No failure by any Lender, the L/C Issuer, the
Administrative Agent or the Collateral 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

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privilege. The rights, remedies, powers and privileges herein provided are cumulative and not
exclusive of any rights, remedies, powers and privileges provided by law.

     Notwithstanding anything to the contrary contained herein or in any other Loan Document, the
authority to enforce rights and remedies hereunder and under the other Loan Documents against the
Loan Parties or any of them shall be vested exclusively in, and all actions and proceedings at law
in connection with such enforcement shall be instituted and maintained exclusively by, the
Administrative Agent and the Collateral Agent in accordance with Section 8.02 for the
benefit of all the Lenders and the L/C Issuer; provided, however, that the
foregoing shall not prohibit (a) the Administrative Agent or the Collateral Agent from exercising
on its own behalf the rights and remedies that inure to its benefit (solely in its capacity as
Administrative Agent or the Collateral Agent, as the case may be) hereunder and under the other
Loan Documents, (b) the L/C Issuer or the Swing Line Lender from exercising the rights and remedies
that inure to its benefit (solely in its capacity as L/C Issuer or Swing Line Lender, as the case
may be) hereunder and under the other Loan Documents, (c) any Lender from exercising setoff rights
in accordance with Section 10.08 (subject to the terms of Section 2.13), or (d) any
Lender from filing proofs of claim or appearing and filing pleadings on its own behalf during the
pendency of a proceeding relative to any Loan Party under any Debtor Relief Law; and
provided, further, that if at any time there is no Person acting as Administrative
Agent and Collateral Agent hereunder and under the other Loan Documents, then (i) the Required
Lenders shall have the rights otherwise ascribed to the Administrative Agent pursuant to
Section 8.02 and the rights ascribed to the Collateral Agent in the other Loan Documents
and (ii) in addition to the matters set forth in clauses (b), (c) and (d) of the preceding proviso
and subject to Section 2.13, any Lender may, with the consent of the Required Lenders,
enforce any rights and remedies available to it and as authorized by the Required Lenders.

     10.04 Expenses; Indemnity; Damage Waiver.

     (a) Costs and Expenses. The Borrowers shall pay (i) all reasonable out of pocket
expenses incurred by the Administrative Agent and its Affiliates (including the reasonable fees,
charges and disbursements of counsel for the Administrative Agent), in connection with the
syndication of the credit facilities provided for herein, the preparation, 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 the 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 the L/C Issuer (including the
fees, charges and disbursements of any counsel for the Administrative Agent, the Collateral Agent,
any Lender or the 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 10.04, or (B) in connection with the Loans made or Letters of Credit issued
hereunder, including all such out of pocket expenses incurred during any workout, restructuring or
negotiations in respect of such Loans or Letters of Credit.

     (b) Indemnification by the Borrowers. The Borrowers shall indemnify each Indemnitee
against, and hold each Indemnitee harmless from, any and all losses, claims,

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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 any 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 the Collateral Agent (and any sub-agent thereof) and their respective Related Parties
only, the administration of this Agreement and the other Loan Documents (including in respect of
any matters addressed by Section 3.01), (ii) any Loan or Letter of Credit or the use or
proposed use of the proceeds therefrom (including any refusal by the 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 any Borrower or any
of its Subsidiaries, or any Environmental Liability related in any way to any 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 a Borrower or any other Loan Party, and regardless of whether any
Indemnitee is a party thereto, IN ALL CASES, WHETHER OR NOT CAUSED BY OR ARISING, IN WHOLE OR IN
PART, OUT OF THE COMPARATIVE, CONTRIBUTORY OR SOLE NEGLIGENCE OF THE INDEMNITEE; provided
that such indemnity shall not, as to any Indemnitee, be available to the extent that such losses,
claims, damages, liabilities or related expenses (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 (y) result from a claim brought by a Borrower or any other
Loan Party against an Indemnitee for breach in bad faith of such Indemnitee’s obligations hereunder
or under any other Loan Document, if such Borrower or such other 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 Borrowers for any reason fail to
indefeasibly pay any amount required under subsection (a) or (b) of this Section to be paid by them
to the Administrative Agent or the Collateral Agent (or any sub-agent of either of them), the 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 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 the Collateral Agent (or
any such sub-agent) or the L/C Issuer in its capacity as such, or against any Related Party of any
of the foregoing acting for the Administrative Agent or the Collateral Agent (or any such
sub-agent) or L/C Issuer in connection with such 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, no Borrower shall assert, and each Borrower hereby waives, any claim against any
Indemnitee, on any theory of liability, for special, indirect, consequential or punitive

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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 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, the L/C Issuer and the Swing Line Lender, the
replacement of any Lender, the termination of the Aggregate Commitments and the repayment,
satisfaction or discharge of all the other Obligations.

     10.05 Payments Set Aside. To the extent that any payment by or on behalf of any Borrower is
made to the Administrative Agent, the Collateral Agent, the L/C Issuer or any Lender, or the
Administrative Agent, the Collateral Agent, the 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, the 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 the 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 Issuer under clause (b) of the preceding
sentence shall survive the payment in full of the Obligations and the termination of this
Agreement.

     10.06 Successors and Assigns.

     (a) Successors and Assigns Generally. 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 no 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 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, (iii) by way of pledge or assignment of a security interest
subject to the restrictions of subsection (f) of this Section, or (iv) to an SPC in accordance with
the provisions of subsection (h) of this Section (and any other attempted assignment or transfer by

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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 Collateral Agent, the L/C Issuer 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
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 Swing Line Loans at the time owing to it);
provided that any such assignment shall be subject to the following conditions:

          (i) Minimum Amounts.

     (A) 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, an Affiliate of a Lender or an Approved Fund, no
minimum amount need be assigned; and

     (B) in any case not described in subsection (b)(i)(A) of this Section, the
aggregate amount of the Commitment (which for this purpose includes Loans
outstanding thereunder) or, if the Commitment is not then in effect, the principal
outstanding 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 $5,000,000 unless each of the Administrative Agent and, so long as no Event of
Default has occurred and is continuing, SEI 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) Proportionate Amounts. 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 the Swing Line Lender’s rights and obligations in respect of
Swing Line Loans.

     (iii) Required Consents. No consent shall be required for any assignment
except to the extent required by subsection (b)(i)(B) of this Section and, in addition:

     (A) the consent of SEI (such consent not to be unreasonably withheld or
delayed) shall be required unless (1) an Event of Default has occurred and is

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continuing at the time of such assignment or (2) such assignment is to a
Lender, an Affiliate of a Lender or an Approved Fund; provided that SEI
shall be deemed to have consented to any such assignment unless it shall object
thereto by written notice to the Administrative Agent within ten (10) Business Days
after having received notice thereof;

     (B) the consent of the Administrative Agent (such consent not to be
unreasonably withheld or delayed) shall be required if such assignment is to be a
Person that is not a Lender, an Affiliate of such Lender or an Approved Fund with
respect to such Lender;

     (C) the consent of the L/C Issuer (such consent not to be unreasonably withheld
or delayed) shall be required for any assignment that increases the obligation of
the assignee to participate in exposure under one or more Letters of Credit (whether
or not then outstanding); and

     (D) the consent of the Swing Line Lender (such consent not to be unreasonably
withheld or delayed) shall be required for any assignment.

     (iv) Assignment and Assumption. 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 of $3,500; provided, however,
that the Administrative Agent may, in its sole discretion, elect to waive such processing
and recordation fee in the case of any assignment. The assignee, if it is not a Lender,
shall deliver to the Administrative Agent an Administrative Questionnaire.

     (v) No Assignment to Certain Persons. No such assignment shall be made to (A)
any Borrower or any Borrower’s Affiliates or Subsidiaries, or (B) to any Defaulting Lender
or any of its Subsidiaries, or any Person who, upon becoming a Lender hereunder, would
constitute any of the foregoing Persons described in this clause (B), or (C) to a natural
person.

     (vi) Certain Additional Payments. In connection with any assignment of rights
and obligations of any Defaulting Lender hereunder, no such assignment shall be effective
unless and until, in addition to the other conditions thereto set forth herein, the parties
to the assignment shall make such additional payments to the Administrative Agent in an
aggregate amount sufficient, upon distribution thereof as appropriate (which may be outright
payment, purchases by the assignee of participations or subparticipations, or other
compensating actions, including funding, with the consent of the Borrowers and the
Administrative Agent, the applicable pro rata share of Loans previously requested but not
funded by the Defaulting Lender, to each of which the applicable assignee and assignor
hereby irrevocably consent), to (x) pay and satisfy in full all payment liabilities then
owed by such Defaulting Lender to the Administrative Agent or any Lender hereunder (and
interest accrued thereon) and (y) acquire (and fund as appropriate) its full pro rata share
of all Loans and participations in Letters of Credit and Swing Line Loans in accordance with
its Applicable Percentage. Notwithstanding the foregoing, in the event that any assignment
of rights and obligations of any

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Defaulting Lender hereunder shall become effective under applicable Law without
compliance with the provisions of this paragraph, then the assignee of such interest shall
be deemed to be a Defaulting Lender for all purposes of this Agreement until such compliance
occurs.

     Subject to acceptance and recording thereof by the Administrative Agent pursuant to subsection
(c) of this Section, 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
10.04 with respect to facts and circumstances occurring prior to the effective date of such
assignment. Upon request, each 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; provided that in the case of an assignment or transfer by a
Lender to an Affiliate of such Lender, in the event that such assignment or transfer has not
satisfied the provisions of this subsection, such assignment shall nevertheless be treated as
effective as between the assigning Lender and the assignee Affiliate of such Lender, but shall not
be effective with respect to any other party hereto and shall be treated as a participation in
accordance with subsection (d) of this Section until such assignment or transfer complies with the
provisions of this subsection.

     (c) Register. The Administrative Agent, acting solely for this purpose as an agent of
the Borrowers (and such agency being solely for tax purposes), 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”). Subject to the last proviso of Section 10.06(b)
above with respect to assignments by a Lender to one of its Affiliates, which such exception shall
not impair any other party’s ability to rely on the Register, the entries in the Register shall be
conclusive, and the Borrowers, 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. In addition, the
Administrative Agent shall maintain on the Register information regarding the designation, and
revocation of such designation, of any Lender as a Defaulting Lender of which the Administrative
Agent has received notice. The Register shall be available for inspection by any Borrower and any
Lender, at any reasonable time and from time to time upon reasonable prior notice.

     (d) Participations. Any Lender may at any time, without the consent of, or notice to,
any Borrower or the Administrative Agent, sell participations to any Person (other than a natural
person, a Defaulting Lender, a Borrower or any of the Borrowers’ respective Affiliates or

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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 Swing Line 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) each Borrower, the Administrative Agent, the Lenders and
the L/C Issuer 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 10.01 that affects such Participant. Subject to subsection (e) of this Section,
each 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 10.08 as though it
were a Lender, provided such Participant agrees to be subject to Section 2.13 as
though it were a Lender.

     (e) Limitations upon Participant 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 SEI’s prior written consent.
A Participant that would be a Foreign Lender if it were a Lender shall not be entitled to the
benefits of Section 3.01 unless SEI is notified of the participation sold to such
Participant and such Participant agrees, for the benefit of the Borrowers, 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) Special Purpose Funding Vehicles. Notwithstanding anything to the contrary
contained herein, any Lender (a “Granting Lender”) may grant to a special purpose funding

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vehicle identified as such in writing from time to time by the Granting Lender to the
Administrative Agent and SEI (an “SPC”) the option to provide all or any part of any
Committed Loan that such Granting Lender would otherwise be obligated to make pursuant to this
Agreement; provided that (i) nothing herein shall constitute a commitment by any SPC to
fund any Committed Loan, and (ii) if an SPC elects not to exercise such option or otherwise fails
to make all or any part of such Committed Loan, the Granting Lender shall be obligated to make such
Committed Loan pursuant to the terms hereof or, if it fails to do so, to make such payment to the
Administrative Agent as is required under Section 2.13(b)(ii). Each party hereto hereby
agrees that (i) neither the grant to any SPC nor the exercise by any SPC of such option shall
increase the costs or expenses or otherwise increase or change the obligations of the Borrowers
under this Agreement (including its obligations under Section 3.04), (ii) no SPC shall be
liable for any indemnity or similar payment obligation under this Agreement for which a Lender
would be liable, and (iii) the Granting Lender shall for all purposes, including the approval of
any amendment, waiver or other modification of any provision of any Loan Document, remain the
lender of record hereunder. The making of a Committed Loan by an SPC hereunder shall utilize the
Commitment of the Granting Lender to the same extent, and as if, such Committed Loan were made by
such Granting Lender. In furtherance of the foregoing, each party hereto hereby agrees (which
agreement shall survive the termination of this Agreement) that, prior to the date that is one year
and one day after the payment in full of all outstanding commercial paper or other senior debt of
any SPC, it will not institute against, or join any other Person in instituting against, such SPC
any bankruptcy, reorganization, arrangement, insolvency, or liquidation proceeding under the laws
of the United States or any State thereof. Notwithstanding anything to the contrary contained
herein, any SPC may (i) with notice to, but without prior consent of SEI and the Administrative
Agent and with the payment of a processing fee of $3,500 (which processing fee may be waived by the
Administrative Agent in its sole discretion), assign all or any portion of its right to receive
payment with respect to any Loan to the Granting Lender and (ii) disclose on a confidential basis
any non-public information relating to its funding of Committed Loans to any rating agency,
commercial paper dealer or provider of any surety or Guarantee or credit or liquidity enhancement
to such SPC.

     (i) Resignation as L/C Issuer or Swing Line Lender after Assignment. Notwithstanding
anything to the contrary contained herein, if at any time Bank of America assigns all of its
Commitment and Loans pursuant to subsection (b) above, Bank of America may, (i) upon 30 days’
notice to SEI and the Lenders, resign as L/C Issuer and/or (ii) upon 30 days’ notice to SEI, resign
as Swing Line Lender. In the event of any such resignation as L/C Issuer or Swing Line Lender, SEI
shall be entitled to appoint from among the Lenders a successor L/C Issuer or Swing Line Lender
hereunder; provided, however, that no failure by SEI to appoint any such successor
shall affect the resignation of Bank of America as L/C Issuer or Swing Line Lender, as the case may
be. If Bank of America resigns as L/C Issuer, it shall retain all the rights, powers, privileges
and duties of the L/C Issuer hereunder with respect to all Letters of Credit outstanding as of the
effective date of its resignation as 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)). If Bank of America
resigns as Swing Line Lender, it shall retain all the rights of the Swing Line Lender provided for
hereunder with respect to Swing Line 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 Swing Line

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Loans pursuant to Section 2.04(c). Upon the appointment of a successor L/C Issuer
and/or Swing Line Lender, (a) such successor shall succeed to and become vested with all of the
rights, powers, privileges and duties of the retiring L/C Issuer or Swing Line Lender, as the case
may be, 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 to effectively assume the obligations of Bank of America with
respect to such Letters of Credit.

     10.07 Treatment of Certain Information; Confidentiality. Each of the Administrative Agent,
the Collateral Agent, the Lenders and the 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, trustees,
advisors and representatives (it being understood that the Persons to whom such disclosure is made
will be informed of the confidential nature of such Information and instructed to keep such
Information confidential), (b) to the extent requested by any regulatory authority purporting to
have jurisdiction over it (including any self-regulatory authority, such as the National
Association of Insurance Commissioners), (c) to the extent required by applicable laws or
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, including any
pledgee pursuant to Section 10.06(f), or (ii) any actual or prospective counterparty (or
its advisors) to any swap or derivative transaction relating to any Borrower and its obligations,
(g) with the consent of SEI or (h) to the extent such Information (x) becomes publicly available
other than as a result of a breach of this Section 10.07 or (y) becomes available to the
Administrative Agent, the Collateral Agent, any Lender, the L/C Issuer or any of their respective
Affiliates on a nonconfidential basis from a source other than a Borrower.

     For purposes of this Section, “Information” means all information received from SEI or
any Subsidiary relating to SEI or any Subsidiary or any of their respective businesses, other than
any such information that is available to the Administrative Agent, the Collateral Agent, any
Lender or the L/C Issuer on a nonconfidential basis prior to disclosure by SEI or any Subsidiary,
provided that, in the case of information received from SEI 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
10.07 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 Collateral Agent, the Lenders and the L/C Issuer
acknowledges that (a) the Information may include material non-public information concerning a
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 United States Federal and state securities
Laws.

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     10.08 Right of Setoff. If an Event of Default shall have occurred and be continuing, each
Lender, the L/C Issuer and each of their respective Affiliates is hereby authorized at any time and
from time to time, 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 but
excluding segregated accounts containing only funds that are trust funds or being held in escrow in
lieu of trust and expressly so designated) at any time held and other obligations (in whatever
currency) at any time owing by such Lender, the L/C Issuer or any such Affiliate to or for the
credit or the account of any Borrower against any and all of the obligations of any Borrower now or
hereafter existing under this Agreement or any other Loan Document to such Lender or the L/C
Issuer, irrespective of whether or not such Lender or the L/C Issuer shall have made any demand
under this Agreement or any other Loan Document and although such obligations of such Borrower may
be contingent or unmatured or are owed to a branch or office of such Lender or the L/C Issuer
different from the branch or office holding such deposit or obligated on such indebtedness;
provided, that in the event that any Defaulting Lender shall exercise any such right of
setoff, (x) all amounts so set off shall be paid over immediately to the Administrative Agent for
further application in accordance with the provisions of Section 2.19 and, pending such
payment, shall be segregated by such Defaulting Lender from its other funds and deemed held in
trust for the benefit of the Administrative Agent, the Collateral Agent and the Lenders, and (y)
the Defaulting Lender shall provide promptly to the Administrative Agent a statement describing in
reasonable detail the Obligations owing to such Defaulting Lender as to which it exercised such
right of setoff. The rights of each Lender, the 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, the L/C Issuer or their respective Affiliates may have. Each Lender and the L/C
Issuer agrees to notify SEI 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.

     10.09 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 applicable 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.

     10.10 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 4.01, this Agreement shall become effective when it shall have been executed by the

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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 or other electronic imaging
means shall be effective as delivery of a manually executed counterpart of this Agreement.

     10.11 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,
the Collateral Agent, the L/C Issuer and each Lender, regardless of any investigation made by the
Administrative Agent, the Collateral Agent, the L/C Issuer or any Lender or on their behalf and
notwithstanding that the Administrative Agent, the Collateral Agent, the L/C Issuer 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 as long as any Loan or any other Obligation hereunder shall
remain unpaid or unsatisfied or any Letter of Credit shall remain outstanding.

     10.12 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 as 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. Without limiting the foregoing provisions of this
Section 10.12, if and to the extent that the enforceability of any provisions in this
Agreement relating to Defaulting Lenders shall be limited by Debtor Relief Laws, as determined in
good faith by the Administrative Agent, the L/C Issuer or the Swing Line Lender, as applicable,
then such provisions shall be deemed to be in effect only to the extent not so limited.

     10.13 Replacement of Lenders. If (i) any Lender (w) is subject to Section 3.02 and
has not designated a different Lending Office for funding or booking its Loans hereunder or
assigned its rights and obligations hereunder to another of its offices, branches or affiliates or
otherwise eliminated the need for the notice pursuant to Section 3.02 within 30 days of
giving notice pursuant to Section 3.02, (x) requests compensation under Section
3.04, (y) is a Defaulting Lender or (z) refuses to consent to any waiver, consent or amendment
requested by the Borrowers pursuant to Section 10.01 that has received the written approval
of the Required Lenders, but also requires the approval of such Lender, or (ii) any 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, then the Borrowers may, at their sole expense and
effort, upon notice from SEI 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 10.06), 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:

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     (a) the Borrowers shall have paid to the Administrative Agent the assignment fee specified in
Section 10.06(b);

     (b) such Lender shall have received payment of an amount equal to the outstanding principal of
its Loans and L/C Advances, if any, 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 Borrowers (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.

     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 a Borrower to require
such assignment and delegation cease to apply.

     10.14 Intentionally Deleted

     10.15 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. EACH BORROWER 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, THE COLLATERAL AGENT, ANY LENDER OR THE L/C ISSUER MAY
OTHERWISE HAVE TO BRING ANY ACTION OR PROCEEDING RELATING TO THIS AGREEMENT OR ANY OTHER LOAN
DOCUMENT AGAINST ANY BORROWER OR ITS PROPERTIES IN THE COURTS OF ANY JURISDICTION.

132

 

     (c) WAIVER OF VENUE. EACH BORROWER 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 10.02. NOTHING IN THIS AGREEMENT WILL AFFECT
THE RIGHT OF ANY PARTY HERETO TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY APPLICABLE LAW.

     10.16 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.

     10.17 No Advisory or Fiduciary Responsibility. In connection with all aspects of each
transaction contemplated hereby (including in connection with any amendment, waiver or other
modification hereof or of any other Loan Document), each Borrower acknowledges and agrees, and
acknowledges its Affiliates’ understanding, that: (i) (A) the arranging and other services
regarding this Agreement provided by the Administrative Agent and the Arranger, are arm’s-length
commercial transactions between the Borrowers and their respective Affiliates, on the one hand, and
the Administrative Agent and the Arranger, on the other hand, (B) each Borrower has consulted its
own legal, accounting, regulatory and tax advisors to the extent it has deemed appropriate, and (C)
each Borrower is capable of evaluating, and understands and accepts, the terms, risks and
conditions of the transactions contemplated hereby and by the other Loan Documents; (ii) (A) each
of the Administrative Agent and the Arranger is and has been acting solely as a principal and,
except as expressly agreed in writing by the relevant parties, has not been, is not, and will not
be acting as an advisor, agent or fiduciary, for any Borrower or any of their respective
Affiliates, or any other Person and (B) neither the Administrative Agent nor the Arranger has any
obligation to any Borrower or any of their respective Affiliates with respect to the transactions
contemplated hereby except those obligations expressly set forth herein and in

133

 

the other Loan Documents; and (iii) the Administrative Agent and the Arranger and their
respective Affiliates may be engaged in a broad range of transactions that involve interests that
differ from those of the Borrowers and their respective Affiliates, and neither the Administrative
Agent nor the Arranger has any obligation to disclose any of such interests to any Borrower or any
of their respective Affiliates. To the fullest extent permitted by law, each Borrower hereby
waives and releases any claims that it may have against the Administrative Agent and the Arranger
with respect to any breach or alleged breach of agency or fiduciary duty in connection with any
aspect of any transaction contemplated hereby.

     10.18 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) and the Collateral Agent
hereby notifies each Borrower that pursuant to the requirements of the USA PATRIOT Act (Title III
of Pub. L. 107-56 (signed into law October 26, 2001)) (the “Act”), it is required to
obtain, verify and record information that identifies the Borrowers, which information includes the
name and address of each Borrower and other information that will allow such Lender, the
Administrative Agent or the Collateral Agent, as applicable, to identify each Borrower in
accordance with the Act. The Borrowers shall, promptly following a request by the Administrative
Agent, the Collateral Agent or any Lender, provide all documentation and other information that the
Administrative Agent, the Collateral Agent or such Lender requests in order to comply with its
ongoing obligations under applicable “know your customer” and anti-money laundering rules and
regulations, including the Act.

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

134

 

     IN WITNESS WHEREOF, the parties hereto have caused this Second Amended and Restated Credit
Agreement to be duly executed as of the date first above written.

	 	 	 	 	 
	 	STEWART ENTERPRISES, INC.

 	 
	 	By:  	/s/ Lewis J. Derbes, Jr.	 
	 	 	Name:  	Lewis J. Derbes, Jr.	 
	 	 	Title:  	Chief Financial Officer,

 Senior Vice President and Treasurer	 
	 
	 	EMPRESAS STEWART-CEMENTERIOS

By: Stewart Cementerios Puerto Rico Holding II,

      B.V., its Managing Partner

 	 
	 	By:  	/s/ Thomas M. Kitchen 	 
	 	 	Name:  	Thomas M. Kitchen 	 
	 	 	Title:  	Director	 
	 
	 	EMPRESAS STEWART-FUNERARIAS

By: Stewart Funerarias Puerto Rico Holding II, 

      B.V., its Managing Partner

 	 
	 	By:  	/s/ Thomas M. Kitchen	 
	 	 	Name:  	Thomas M. Kitchen	 
	 	 	Title:  	Director	 
	 

Signature Page

Stewart Enterprises, Inc.

Third Amended and Restated Credit Agreement

 

 

	 	 	 	 	 
	 	BANK OF AMERICA, N.A., as

Administrative Agent and Collateral Agent

 	 
	 	By:  	/s/ Kimberly D. Williams	 
	 	 	Name:  	Kimberly D. Williams 	 
	 	 	Title:  	Vice President 	 
	 

Signature Page

Stewart Enterprises, Inc.

Third Amended and Restated Credit Agreement

 

 

	 	 	 	 	 
	 	BANK OF AMERICA, N.A., as a Lender, L/C Issuer

and Swing Line Lender

 	 
	 	By:  	/s/ Gene Riego De Dios	 
	 	 	Name:  	Gene Riego De Dios	 
	 	 	Title:  	Assistant Vice President	 
	 

Signature Page

Stewart Enterprises, Inc.

Third Amended and Restated Credit Agreement

 

 

	 	 	 	 	 
	 	SUNTRUST BANK

 	 
	 	By:  	/s/ Baerbel Freudenthaler	 
	 	 	Name:  	Baerbel Freudenthaler	 
	 	 	Title:  	Director	 
	 

Signature Page

Stewart Enterprises, Inc.

Third Amended and Restated Credit Agreement

 

 

	 	 	 	 	 
	 	JPMORGAN CHASE BANK, N.A.

 	 
	 	By:  	/s/ Donald Hunt	 
	 	 	Name:  	Donald Hunt	 
	 	 	Title:  	Vice President	 
	 

Signature Page

Stewart Enterprises, Inc.

Third Amended and Restated Credit Agreement

 

 

	 	 	 	 	 
	 	REGIONS BANK

 	 
	 	By:  	/s/ Scott Sarratt	 
	 	 	Name:  	Scott Sarratt	 
	 	 	Title:  	Vice President	 
	 

Signature Page

Stewart Enterprises, Inc.

Third Amended and Restated Credit Agreement

 

 

	 	 	 	 	 
	 	COMPASS BANK

 	 
	 	By:  	/s/
Jason Consoli 	 
	 	 	Name:  	Jason Consoli 	 
	 	 	Title:  	Senior
Vice President 	 
	 

Signature Page

Stewart Enterprises, Inc.

Third Amended and Restated Credit Agreement

 

 

	 	 	 	 	 
	 	CAPITAL ONE, NATIONAL ASSOCIATION

 	 
	 	By:  	/s/
Cheryl Denenea	 
	 	 	Name:  	Cheryl Denenea	 
	 	 	Title:  	Senior
Vice President	 
	 

Signature Page

Stewart Enterprises, Inc.

Third Amended and Restated Credit Agreement

 

 

	 	 	 	 	 
	 	WHITNEY NATIONAL BANK

 	 
	 	By:  	/s/
Phillip E. Gordillo	 
	 	 	Name:  	Phillip E. Gordillo	 
	 	 	Title:  	Vice
President	 
	 

Signature Page

Stewart Enterprises, Inc.

Third Amended and Restated Credit Agreementexv4w1

Exhibit 4.1

 

AMENDED AND RESTATED CREDIT AGREEMENT

Dated as of April 20, 2011

among

REPUBLIC SERVICES, INC.,

as the Borrower,

BANK OF AMERICA, N.A.,

as Administrative Agent, Swing Line Lender

and

L/C Issuer,

JPMORGAN CHASE BANK, N.A.

and

WELLS FARGO BANK NATIONAL ASSOCIATION,

as Co-Syndication Agents

BARCLAYS BANK PLC,

and

SUNTRUST BANK,

as Co-Documentation Agents

The Other Lenders Party Hereto

MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED,

J.P. MORGAN SECURITIES LLC

and

WELLS FARGO SECURITIES, LLC,

as Joint Lead Arrangers and Joint Book Managers

 

 

 

	 	 	 	 	 
	Section	 	Page
	ARTICLE I. DEFINITIONS AND ACCOUNTING TERMS
	 	 	3	 
	 
	1.01 Defined Terms
	 	 	3	 
	 
	1.02 Other Interpretive Provisions
	 	 	27	 
	 
	1.03 Accounting Terms
	 	 	28	 
	 
	1.04 Rounding
	 	 	29	 
	 
	1.05 Times of Day
	 	 	29	 
	 
	1.06 Letter of Credit Amounts
	 	 	29	 
	 
	ARTICLE II. THE COMMITMENTS AND CREDIT EXTENSIONS
	 	 	29	 
	 
	2.01 Committed Loans
	 	 	29	 
	 
	2.02 Borrowings, Conversions and Continuations of Committed Loans
	 	 	29	 
	 
	2.03 Letters of Credit
	 	 	31	 
	 
	2.04 Swing Line Loans
	 	 	40	 
	 
	2.05 Prepayments
	 	 	43	 
	 
	2.06 Termination or Reduction of Commitments
	 	 	44	 
	 
	2.07 Repayment of Loans
	 	 	45	 
	 
	2.08 Interest
	 	 	45	 
	 
	2.09 Fees
	 	 	46	 
	 
	2.10 Computation of Interest and Fees
	 	 	46	 
	 
	2.11 Evidence of Debt
	 	 	47	 
	 
	2.12 Payments Generally; Administrative Agent’s Clawback
	 	 	47	 
	 
	2.13 Sharing of Payments by Lenders
	 	 	49	 
	 
	2.14 Increase in Commitments
	 	 	50	 
	 
	2.15 Cash Collateral
	 	 	51	 
	 
	2.16 Defaulting Lenders
	 	 	52	 
	 
	ARTICLE III. TAXES, YIELD PROTECTION AND ILLEGALITY
	 	 	54	 
	 
	3.01 Taxes
	 	 	54	 
	 
	3.02 Illegality
	 	 	58	 
	 
	3.03 Inability to Determine Rates
	 	 	59	 
	 
	3.04 Increased Costs
	 	 	59	 
	 
	3.05 Compensation for Losses
	 	 	60	 
	 
	3.06 Mitigation Obligations; Replacement of Lenders
	 	 	61	 
	 
	3.07 Survival
	 	 	61	 

i

 

	 	 	 	 	 
	Section	 	Page
	ARTICLE IV. CONDITIONS PRECEDENT TO CREDIT EXTENSIONS
	 	 	62	 
	 
	4.01 Conditions of Amendment and Restatement
	 	 	62	 
	 
	4.02 Conditions to all Credit Extensions
	 	 	63	 
	 
	ARTICLE V. REPRESENTATIONS AND WARRANTIES
	 	 	64	 
	 
	5.01 Corporate Existence and Power
	 	 	64	 
	 
	5.02 Corporate Authorization; No Contravention
	 	 	64	 
	 
	5.03 Governmental Authorization
	 	 	65	 
	 
	5.04 Binding Effect
	 	 	65	 
	 
	5.05 Litigation
	 	 	65	 
	 
	5.06 No Default
	 	 	65	 
	 
	5.07 ERISA Compliance.
	 	 	65	 
	 
	5.08 Use of Proceeds; Margin Regulations
	 	 	66	 
	 
	5.09 Title to Properties
	 	 	66	 
	 
	5.10 Taxes
	 	 	66	 
	 
	5.11 Financial Condition
	 	 	67	 
	 
	5.12 Environmental Matters
	 	 	67	 
	 
	5.13 Regulated Entities
	 	 	67	 
	 
	5.14 No Burdensome Restrictions
	 	 	67	 
	 
	5.15 Copyrights, Patents, Trademarks and Licenses, Etc
	 	 	67	 
	 
	5.16 Subsidiaries
	 	 	68	 
	 
	5.17 Insurance
	 	 	68	 
	 
	5.18 Solvency
	 	 	68	 
	 
	5.19 Full Disclosure
	 	 	68	 
	 
	ARTICLE VI. AFFIRMATIVE COVENANTS
	 	 	68	 
	 
	6.01 Financial Statements
	 	 	68	 
	 
	6.02 Certificates; Other Information
	 	 	69	 
	 
	6.03 Notices
	 	 	70	 
	 
	6.04 Preservation of Corporate Existence, Etc
	 	 	71	 
	 
	6.05 Maintenance of Property
	 	 	72	 
	 
	6.06 Insurance
	 	 	72	 
	 
	6.07 Tax Obligations
	 	 	72	 
	 
	6.08 Compliance with Laws; Contractual Obligations
	 	 	72	 
	 
	6.09 Compliance with ERISA
	 	 	72	 

ii

 

	 	 	 	 	 
	Section	 	Page
	6.10 Inspection of Property and Books and Records
	 	 	72	 
	 
	6.11 Environmental Laws
	 	 	73	 
	 
	6.12 Use of Proceeds
	 	 	73	 
	 
	6.13 Additional Guarantors
	 	 	73	 
	 
	ARTICLE VII. NEGATIVE COVENANTS
	 	 	75	 
	 
	7.01 Financial Condition Covenants
	 	 	75	 
	 
	7.02 Limitation on Liens
	 	 	75	 
	 
	7.03 Disposition of Assets
	 	 	77	 
	 
	7.04 Consolidations and Mergers
	 	 	78	 
	 
	7.05 Loans and Investments
	 	 	78	 
	 
	7.06 Limitation on Secured Indebtedness
	 	 	79	 
	 
	7.07 Transactions with Affiliates
	 	 	79	 
	 
	7.08 Use of Proceeds
	 	 	79	 
	 
	7.09 Restricted Payments
	 	 	80	 
	 
	7.10 ERISA
	 	 	80	 
	 
	7.11 Change in Business
	 	 	80	 
	 
	7.12 Burdensome Agreements
	 	 	80	 
	 
	7.13 Priority Indebtedness
	 	 	81	 
	 
	ARTICLE VIII. EVENTS OF DEFAULT AND REMEDIES
	 	 	81	 
	 
	8.01 Event of Default
	 	 	81	 
	 
	8.02 Remedies
	 	 	83	 
	 
	8.03 Rights Not Exclusive
	 	 	83	 
	 
	8.04 Application of Receipts
	 	 	84	 
	 
	ARTICLE IX. ADMINISTRATIVE AGENT
	 	 	85	 
	 
	9.01 Appointment and Authority
	 	 	85	 
	 
	9.02 Rights as a Lender
	 	 	85	 
	 
	9.03 Exculpatory Provisions
	 	 	85	 
	 
	9.04 Reliance by Administrative Agent
	 	 	86	 
	 
	9.05 Delegation of Duties
	 	 	86	 
	 
	9.06 Resignation of Administrative Agent
	 	 	87	 
	 
	9.07 Non-Reliance on Administrative Agent and Other Lenders
	 	 	87	 
	 
	9.08 No Other Duties, Etc
	 	 	88	 
	 
	9.09 Administrative Agent May File Proofs of Claim
	 	 	88	 

iii

 

	 	 	 	 	 
	Section	 	Page
	9.10 Guaranty Matters
	 	 	89	 
	 
	9.11 Guaranteed Cash Management Agreements and Guaranteed Hedge Agreements
	 	 	89	 
	 
	9.12 Release of Guarantors
	 	 	89	 
	 
	ARTICLE X. MISCELLANEOUS
	 	 	90	 
	 
	10.01 Amendments, Etc
	 	 	90	 
	 
	10.02 Notices; Effectiveness; Electronic Communication
	 	 	91	 
	 
	10.03 No Waiver; Cumulative Remedies
	 	 	93	 
	 
	10.04 Expenses; Indemnity; Damage Waiver
	 	 	94	 
	 
	10.05 Payments Set Aside
	 	 	96	 
	 
	10.06 Successors and Assigns
	 	 	96	 
	 
	10.07 Treatment of Certain Information; Confidentiality
	 	 	100	 
	 
	10.08 Right of Setoff
	 	 	101	 
	 
	10.09 Interest Rate Limitation
	 	 	102	 
	 
	10.10 Counterparts; Integration; Effectiveness
	 	 	102	 
	 
	10.11 Survival of Representations and Warranties
	 	 	102	 
	 
	10.12 Severability
	 	 	103	 
	 
	10.13 Replacement of Lenders; Termination of Commitments
	 	 	103	 
	 
	10.14 Governing Law; Jurisdiction; Etc
	 	 	104	 
	 
	10.15 Waiver of Jury Trial
	 	 	105	 
	 
	10.16 No Advisory or Fiduciary Responsibility
	 	 	106	 
	 
	10.17 Electronic Execution of Assignments and Certain Other Documents
	 	 	106	 
	 
	10.18 USA PATRIOT Act Notice
	 	 	106	 
	 
	ARTICLE XI. CONSENT AND CONFIRMATION OF THE GUARANTORS
	 	 	107	 
	 
	11.01 Consent and Confirmation
	 	 	107	 
	 
	 	 	 	 
	 
	SIGNATURES
	 	 	S-1	 

iv

 

SCHEDULES

	 	 	 

	1.01(a)

	 	Allied Unrestricted Subsidiaries
	1.01(b)

	 	Excluded Subsidiaries
	1.01(c)

	 	L/C Issuers
	2.01

	 	Commitments and Applicable Percentages
	2.03

	 	Existing Letters of Credit
	5.07

	 	ERISA Matters
	5.12

	 	Environmental Matters
	5.16

	 	Material Subsidiaries
	7.02

	 	Existing Liens
	7.05(b)

	 	Permitted RMI Investments
	7.06

	 	Existing Secured Indebtedness
	7.12

	 	Existing Burdensome Agreements
	10.02

	 	Administrative Agent’s Office; Certain Addresses for Notices

EXHIBITS

	 	 	 

	 

	 	Form of
	 
	A

	 	Committed Loan Notice
	B

	 	Swing Line Loan Notice
	C

	 	Note
	D

	 	Compliance Certificate
	E-1

	 	Assignment and Assumption
	E-2

	 	Administrative Questionnaire
	F

	 	Opinion Matters
	G

	 	Report of Letter of Credit Information

v

 

AMENDED AND RESTATED CREDIT AGREEMENT

     This AMENDED AND RESTATED CREDIT AGREEMENT (this “Agreement”) is entered into as of
April 20, 2011, among REPUBLIC SERVICES, INC., a Delaware corporation (the “Borrower”),
each lender from time to time party hereto (collectively, the “Lenders” and individually, a
“Lender”), BANK OF AMERICA, N.A., as Administrative Agent, Swing Line Lender and an L/C
Issuer, and, for purposes of Article XI, each of the GUARANTORS (as defined below) party
hereto.

     A. The Borrower, Bank of America, N.A, as administrative agent, and the lenders party thereto
(the “Existing Lenders”) entered into that certain Credit Agreement dated as of April 26,
2007 (as amended, supplemented or otherwise modified prior to the date hereof, the “Existing
Credit Agreement”), pursuant to which the Existing Lenders have made available to the Borrower
a revolving credit facility, with a letter of credit subfacility and a swing loan subfacility.

     B. As further provided herein and upon the terms and conditions contained herein, the Lenders
and the Administrative Agent have agreed to reallocate the Commitment and Applicable Percentages of
each of the Lenders as set forth on Schedule 2.01.

     C. The Borrower and the Guarantors have requested that the Existing Credit Agreement be
further amended and restated, among other things, to extend the maturity date and make certain
other changes as set forth herein, and the Administrative Agent and the Lenders are willing to make
such amendments to the Existing Credit Agreement.

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

     (i) Simultaneously with the Effective Date and after giving effect to any assignments on the
Effective Date from Existing Lenders under the Existing Credit Agreement who elect not to become
Lenders under this Agreement, but immediately prior to giving effect to paragraph (v)
below, the parties hereby agree that (A) the Commitment of each of the Lenders shall be as set
forth in Schedule 2.01, and the outstanding amount of the Committed Loans (as defined in
and under the Existing Credit Agreement, without giving effect to any Borrowings of Loans under
this Agreement on the Effective Date, but after giving effect to any repayment or reduction thereof
with the proceeds of any applicable sources) shall be reallocated in accordance with such
Commitments, and the requisite assignments shall be deemed to be made in such amounts among the
Lenders and from each Lender to each other Lender (including from Lenders who reduce their
commitments in connection with this Agreement), with the same force and effect as if such
assignments were evidenced by applicable Assignment and Assumptions (as defined in the Existing
Credit Agreement) under the Existing Credit Agreement, but without the payment of any related
assignment fee and (B) the swing line subfacility under the Existing Credit Agreement shall
continue as the swing line subfacility hereunder, with the Swing Line Sublimit set out herein, and
the Swing Line Loans (as defined in the Existing Credit Agreement), if any, shall continue as and
deemed to be Swing Line Borrowings hereunder, and (C) the letter of credit subfacility provided in
the Existing Credit Agreement shall continue as the Letter of Credit

1

 

facility hereunder and the Existing Letters of Credit shall be deemed to be Letters of Credit
issued hereunder.

     (ii) Notwithstanding anything to the contrary in Section 10.06 of the Existing Credit
Agreement or Section 10.06 of this Agreement, no other documents or instruments, including
any Assignment and Assumption, shall be executed in connection with these assignments (all of which
requirements are hereby waived), and such assignments shall be deemed to be made with all
applicable representations, warranties and covenants as if evidenced by an Assignment and
Assumption. On the Effective Date, the applicable Lenders shall make full cash settlement with one
another (including with any Lender whose commitments are being decreased), either directly or
through the Administrative Agent, as the Administrative Agent may direct or approve, with respect
to all assignments, reallocations and other changes in Commitments, such that after giving effect
to such settlements (A) the Commitment of each Lender shall be as set forth on Schedule
2.01 to this Agreement, (B) each Lender’s Applicable Percentage of the Aggregate Commitments
equals (with customary rounding) its Applicable Percentage of (x) the Outstanding Amount of all
Loans, and (y) the Outstanding Amount of all L/C Obligations.

     (iii) The Borrower, each Guarantor, the Administrative Agent, and the Lenders hereby agree
that upon the effectiveness of this Agreement, the terms and provisions of the Existing Credit
Agreement which in any manner govern or evidence the Obligations, the rights and interests of the
Administrative Agent and the Lenders and any terms, conditions or matters related to any thereof,
shall be and hereby are amended and restated in their entirety by the terms, conditions and
provisions of this Agreement, and the terms and provisions of the Existing Credit Agreement, except
as otherwise expressly provided herein, shall be superseded by this Agreement.

     (iv) Notwithstanding this amendment and restatement of the Existing Credit Agreement and in
any related “Loan Documents” (as such term is defined in the Existing Credit Agreement and referred
to herein, individually or collectively, as the “Existing Loan Documents”), (A) all of the
indebtedness, liabilities and obligations owing by any Person under the Existing Credit Agreement
and other Existing Loan Documents outstanding as of the Effective Date shall continue as
Obligations hereunder, (B) each of this Agreement and the Notes and the other Loan Documents is
given as a substitution or supplement of, as the case may be, and not as a payment of, the
indebtedness, liabilities and obligations of the Borrower and the Guarantors under the Existing
Credit Agreement or any Existing Loan Document and is not intended to constitute a novation thereof
or of any of the other Existing Loan Documents, and (C) certain of the Existing Loan Documents will
remain in full force and effect, as set forth in this Agreement. Upon the effectiveness of this
Agreement all loans outstanding and owing by the Borrower under the Existing Credit Agreement as of
the Effective Date, shall constitute Loans hereunder accruing interest with respect to the Base
Rate Loans under the Existing Credit Agreement, at the Base Rate hereunder. The parties hereto
agree that the Interest Periods for all Eurodollar Rate Loans outstanding under the Existing Credit
Agreement on the Closing Date shall be terminated, the Borrower shall pay (on the Closing Date) all
accrued interest with respect to such Loans, and the Borrower shall furnish to the Administrative
Agent interest rate selection notices for existing Loans and borrowing notices for additional Loans
as may be required in connection with the allocation of Loans among Lenders in accordance with
their Applicable Percentages. The Administrative Agent and the Existing Lenders agree that the

2

 

transactions contemplated in these recitals shall not give rise to any obligation of the
Borrower or any Guarantor to make any payment under Section 3.04 or 3.05 of the
Existing Credit Agreement.

     In consideration of the mutual covenants and agreements herein contained, 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:

     “2008 Credit Facility” means the revolving credit facility pursuant to the 2008 Credit
Agreement.

     “2008 Credit Agreement” means that certain Credit Agreement dated as of September 18,
2008, among the Borrower, Bank of America, as administrative agent and the lenders party thereto
(as amended, restated, supplemented or otherwise modified).

     “Acquired Plan” means any Plan which was originally established and maintained by a
Person other than the Borrower or an ERISA Affiliate and which became, or hereafter becomes, a Plan
as a result of an Acquisition by the Borrower or any Subsidiary.

     “Acquisition” means any transaction or series of related transactions for the purpose
of or resulting, directly or indirectly, in (a) the acquisition of all or substantially all of the
assets of a Person, or of all or substantially all of any business or division of a Person, (b) the
acquisition of in excess of 50% of the capital stock, partnership interests, membership interests
or equity of any Person, or otherwise causing any Person to become a Subsidiary, or (c) a merger or
consolidation or any other combination with another Person (other than a Person that is a
Subsidiary) provided that the Borrower or the Subsidiary is the surviving entity.

     “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 10.02, or such other address or account as
the Administrative Agent may from time to time notify to the Borrower and the Lenders.

     “Administrative Questionnaire” means an Administrative Questionnaire in substantially
the form of Exhibit E-2 or any other form approved 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 Commitments” means the Commitments of all the Lenders.

3

 

     “Agreement” means this Credit Agreement.

     “Allied” means Allied Waste Industries, Inc., a Delaware corporation.

     “Allied Acquisition” means the acquisition of Allied pursuant to the terms of the
Merger Agreement.

     “Allied Unrestricted Subsidiary” means each Subsidiary of Allied set forth on
Schedule 1.01(a).

     “Applicable Percentage” means with respect to any Lender at any time, the percentage
(carried out to the ninth decimal place) of the Aggregate Commitments represented by such Lender’s
Commitment at such time, subject to adjustment as provided in Section 2.16. If the
commitment of each Lender to make Loans and the obligation of the L/C Issuer to make L/C Credit
Extensions have been terminated pursuant to Section 8.02 or if the Aggregate 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. 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, from time to time, the following percentages per annum, based
upon the Pricing Level for the highest Debt Rating of the Borrower, as set forth below:

Applicable Rate

     For purposes of each of the rates set forth in the table below such rates shall be the
applicable rate per annum determined as of the day next following receipt by the Administrative
Agent from the Borrower of evidence satisfactory to the Administrative Agent of the then-applicable
Debt Rating.

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	For	 	 
	 	 	 	 	 	 	Eurodollar	 	 
	 	 	 	 	 	 	Rate Loans	 	 
	Pricing	 	Debt Ratings	 	For	 	and Letters	 	For Base
	Level	 	S&P/Moody’s	 	Facility Fee	 	of Credit	 	Rate Loans
	1	 	3BBB+/Baa1	 	0.175%	 	1.075%	 	0.000%
	2	 	BBB/Baa2	 	0.225%	 	1.275%	 	0.000%
	3	 	BBB-/Baa3	 	0.300%	 	1.450%	 	0.000%
	4	 	£BB+/Ba1	 	0.350%	 	1.900%	 	0.400%

“Debt Rating” means, as of any date of determination, the debt rating of the
Borrower’s non-credit-enhanced, senior unsecured long-term debt as determined by S&P and
Moody’s (each a “Debt Rating”, and collectively, the “Debt Ratings”).

4

 

     The applicable Debt Rating for determining the Pricing Level shall be the highest Debt Rating
of the Borrower, provided, that (i) if the Debt Ratings differ by more than one level, then
the Pricing Level that is one level higher than the Pricing Level of the lower Debt Rating
shall apply; (ii) if the Borrower has only one Debt Rating, the Pricing Level of such Debt Rating
shall apply; and (iii) if the Borrower does not have any Debt Rating, Pricing Level 4 shall apply.
Initially, the Applicable Rate shall be determined based upon the Debt Rating specified in the
certificate delivered pursuant to Section 4.01(a)(vi). Thereafter, each change in the
Applicable Rate resulting from a publicly announced change in the Debt Rating shall be effective
during the period commencing on the date of delivery by the Borrower to the Administrative Agent of
notice thereof pursuant to Section 6.03 (or, if earlier, on the date that the
Administrative Agent becomes aware of such public announcement) and ending on the date immediately
preceding the effective date of the next such change.

     “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 Merrill Lynch, Pierce, Fenner & Smith Incorporated, J.P. Morgan
Securities LLC and Wells Fargo Securities, LLC each in its capacity as joint lead arranger and
joint book manager.

     “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 assignee (with the consent of any party whose consent is required by Section
10.06(b)), and accepted by the Administrative Agent, in substantially the form of Exhibit
E-1 or any other form approved by the Administrative Agent.

     “Attributable Indebtedness” means, with respect to any Person, on any date, (a) 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, and (b) in
respect of any Securitization Transaction, the aggregate principal amount of obligations owed by
such Person.

     “Audited Financial Statements” means the audited consolidated balance sheet of the
Borrower and its Subsidiaries for the fiscal year ended December 31, 2010, 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 the period from the Effective Date to the earliest of (a)
the Maturity Date, (b) the date of termination of the Aggregate 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 the L/C Issuer to make L/C Credit Extensions pursuant to Section 8.02.

     “AWNA” means Allied Waste North America, Inc., a Delaware corporation.

5

 

     “AWNA Senior Notes Indenture” means that certain Senior Indenture dated as of December
23, 1998, among AWNA, various Subsidiaries of the Borrower, and U.S. Bank Trust
Company, National Association, as Trustee, including all amendments thereto, all supplements
thereto and any amendments and restatements or refinancings thereof.

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

     “Bankruptcy Code” means the Federal Bankruptcy Reform Act of 1978 (11 U.S.C. §101,
et seq.).

     “Base Rate” means for any day a fluctuating rate per annum equal to the highest of
(a) the Federal Funds Rate plus 1/2 of 1%, (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” and (c) the Eurodollar
Rate plus 1.00%. 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 in such prime 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.

     “BBCO” means BBCO, Inc., a Delaware corporation.

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

     “Borrower Materials” has the meaning specified in Section 6.02.

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

     “Browning-Ferris” means Browning-Ferris Industries, LLC (f/k/a Browning-Ferris
Industries, Inc.), a Delaware limited liability company.

     “Browning-Ferris Indenture” means the Restated Indenture dated as of September 1,
1991, between Browning-Ferris and JPMorgan Chase Bank, N.A. (formerly Chase Bank of Texas, N.A.),
as successor trustee to First City, Texas-Houston, N.A., including all amendments thereto, all
supplements thereto and any amendments and restatements or refinancings thereof.

     “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 that is also a London Banking Day.

     “Canadian Dollars” means the lawful currency of Canada.

6

 

     “Canadian L/C” means a Letter of Credit which is denominated in Canadian Dollars.

     “Capital Lease” means, with respect to any Person, any lease of (or other agreement
conveying the right to use) any real or personal property by such Person that, in conformity with
GAAP, is accounted for as a capital lease on the balance sheet of such Person.

     “Cash Collateralize” means to pledge and deposit with or deliver to the Administrative
Agent, for the benefit of the Administrative Agent, L/C Issuer or Swing Line Lender (as applicable)
and the Lenders, as collateral for L/C Obligations, Obligations in respect of Swing Line Loans, or
obligations of Lenders to fund participations in respect of either thereof (as the context may
require), cash or deposit account balances or, if the L/C Issuer or Swing Line Lender benefitting
from such collateral shall agree in its sole discretion, other credit support, in each case
pursuant to documentation in form and substance reasonably satisfactory to (a) the Administrative
Agent and (b) the L/C Issuer or the Swing Line Lender (as applicable). “Cash Collateral” shall have
a meaning correlative to the foregoing and shall include the proceeds of such cash collateral and
other credit support.

     “Cash Management Agreement” means any agreement to provide cash management services,
including treasury, depository, overdraft, credit or debit card, purchase card, electronic funds
transfer and other cash management arrangements.

     “Cash Management Bank” means any Person that, (a) at the time it enters into a Cash
Management Agreement, is a Lender or an Affiliate of a Lender, or (b) at the time it (or its
Affiliate) becomes a Lender, is a party to a Cash Management Agreement, in each case in its
capacity as a party to such Cash Management Agreement.

     “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,
implementation or application thereof by any Governmental Authority or (c) the making or issuance
of any request, rule, guideline or directive (whether or not having the force of law) by any
Governmental Authority; provided that notwithstanding anything herein to the contrary, (x) the
Dodd-Frank Wall Street Reform and Consumer Protection Act and all requests, rules, guidelines or
directives thereunder or issued in connection therewith and (y) all requests, rules, guidelines or
directives promulgated by the Bank for International Settlements, the Basel Committee on Banking
Supervision (or any successor or similar authority) or the United States regulatory authorities, in
each case pursuant to Basel III, shall in each case be deemed to be a “Change in Law”, regardless
of the date enacted, adopted or issued.

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

     (a) (i) any “person” or “group” (as such terms are used in Sections 13(d) and 14(d) of
the Exchange Act, but excluding any employee benefit plan of such person or its
subsidiaries, and any person or entity acting in its capacity as trustee, agent or other
fiduciary or administrator of any such plan) other than any Gates Entity (as hereinafter
defined) becomes the “beneficial owner” (as defined in Rules 13d-3 and 13d-5 under the
Exchange Act, except that a person or group shall be deemed to have “beneficial

7

 

ownership”
of all securities that such person or group has the right to acquire whether such right is
exercisable immediately or only after the passage of time (such right, an
“option right”)), directly or indirectly, of more than 25% of the equity securities of
the Borrower entitled to vote for members of the board of directors or equivalent governing
body of the Borrower (“Voting Securities”) 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 (ii) any one or more of Cascade Investment, L.L.C. (“Cascade”),
the Bill & Melinda Gates Foundation Trust (the “Trust”), any entity directly or
indirectly owned or controlled by Cascade or the Trust, or any Person directly or indirectly
controlling Cascade, the Trust or any such entity, or any trustee of any of the foregoing
(collectively, the “Gates Entities”) becomes the “beneficial owner”, directly or
indirectly, of Voting Securities of the Borrower sufficient to cause the aggregate
“beneficial ownership” of Voting Securities of the Borrower by all of the Gates Entities to
exceed 34% of the Voting Securities of the Borrower on a fully-diluted basis (and taking
into account all such securities that the Gates Entities have the right to acquire pursuant
to any option right); or

     (b) during any period of 12 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).

     “Code” means the Internal Revenue Code of 1986.

     “Commitment” means, as to each Lender, its obligation to (a) make Committed Loans to
the Borrower pursuant to Section 2.01, (b) purchase participations in L/C Obligations, and
(c) purchase participations in Swing Line 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 party hereto, as
applicable, as such amount may be adjusted from time to time in accordance with this Agreement.

     “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.

8

 

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

     “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.

     “Computation Period” means any period of four consecutive fiscal quarters ending on
the last day of a fiscal quarter.

     “Consolidated EBITDA” means, with respect to the Borrower and its Subsidiaries for any
Computation Period, the sum of, without duplication, (a) Consolidated Net Income during such
Computation Period, plus (b) the following, in each case to the extent deducted in computing
Consolidated Net Income during such Computation Period: (i) Consolidated Interest Expense; (ii)
taxes on income; (iii) amortization; (iv) depreciation; (v) environmental remediation charges
associated with environmental conditions at the CountyWide Recycling and Disposal Facility as more
particularly described in the Borrower’s Form 10-Q filed with the SEC on August 8, 2008 (not to
exceed $69,000,000 in the aggregate during all Computation Periods); (vi) non-cash charges
associated with the assumption and early extinguishment from time to time of Indebtedness
of Allied assumed in connection with the Allied Acquisition; and (vii) reasonably documented
transition costs in connection with the Allied Acquisition not to exceed $36,000,000 in fiscal year
2010; provided, that, to the extent that any Acquisition has been consummated during a
Computation Period, Consolidated EBITDA shall be computed on a pro forma basis in accordance with
Article 11 of Regulation S-X of the SEC or in a manner otherwise approved by the Administrative
Agent for the purposes of determining the Total Debt to EBITDA Ratio.

     “Consolidated Interest Coverage Ratio” means in respect of any Computation Period the
ratio of (a) Consolidated EBITDA for such Computation Period to (b) Consolidated Interest Expense
for such Computation Period.

     “Consolidated Interest Expense” means, with respect to any Computation Period, the
gross interest expense of the Borrower and its Subsidiaries, including, (i) the amortization of
debt discounts, (ii) the amortization of all fees payable in connection with the incurrence of
Indebtedness to the extent included in interest expense, (iii) the portion of any liabilities
incurred in connection with Capital Leases allocable to interest expense and (iv) consolidated
yield or discount accrued on the aggregate outstanding investment or claim held by purchasers,
assignees or other transferees of (or of interests in) receivables of the Borrower and its
Subsidiaries in connection with any Securitization Transaction (regardless of the accounting
treatment of such Securitization Transaction).

     “Consolidated Net Income” means, for any Computation Period, the gross revenues from
operations of the Borrower and its Subsidiaries, less all operating and non-operating expenses of
the Borrower and its Subsidiaries, including taxes on income but excluding all non-cash,
nonrecurring charges and all extraordinary gains or losses.

9

 

     “Consolidated Tangible Assets” means the consolidated total assets of the Borrower and
its Subsidiaries but excluding goodwill, franchises, licenses, patents, trademarks, trade names,
copyrights and any other intangible assets.

     “Contingent Obligation” means, as to any Person, any direct or indirect liability of
such Person, whether or not contingent, (a) with respect to any Indebtedness, lease, dividend,
letter of credit or other obligation (the “primary obligations”) of another Person (the “primary
obligor”), including any obligation of such Person (i) to purchase, repurchase or otherwise acquire
such primary obligations or any security therefor, (ii) to advance or provide funds for the payment
or discharge of any such primary obligation, or to maintain working capital or equity capital of
the primary obligor or otherwise to maintain the net worth or solvency or any balance sheet item,
level of income or financial condition of the primary obligor, (iii) to purchase property,
securities or services primarily for the purpose of assuring the owner of any such primary
obligation of the ability of the primary obligor to make payment of such primary obligation, or
(iv) otherwise to assure or hold harmless the holder of any such primary obligation against loss in
respect thereof (each a “Guaranty Obligation”); (b) with respect to any Surety Instrument
issued for the account of such Person or as to which such Person is otherwise liable for
reimbursement of drawings or payments; or (c) to purchase any materials, supplies or other property
from, or to obtain the services of, another Person if the relevant contract or other related
document or obligation requires that payment for such materials, supplies or other property, or for
such services, shall be made regardless of whether delivery of such materials, supplies or other
property is ever made or tendered, or such services are ever performed or tendered. The amount of
any Contingent Obligation shall (a) in the case of Guaranty Obligations, be deemed equal to the
stated or determinable amount of the primary obligation in respect of which such Guaranty
Obligation is made (subject to any limitation set forth in such guaranty) or, if not stated or if
indeterminable, the maximum reasonably anticipated liability in respect thereof, and (b) in the
case of other Contingent Obligations, be equal to the maximum reasonably anticipated liability in
respect thereof.

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

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

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

     “Debt Rating” has the meaning specified in the definition of “Applicable Rate.”

     “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

10

 

United States or other applicable jurisdictions from time to time in effect and affecting the
rights of creditors generally.

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

     “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
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 for Eurodollar Rate
Loans plus 2% per annum.

     “Defaulting Lender” means, subject to Section 2.16(b), any Lender that, as
determined by the Administrative Agent, (a) has failed to (i) fund all or any portion of its Loans
within three Business Days of the date such Loans were required to be funded hereunder unless such
Lender notifies the Administrative Agent and the Borrower in writing that such failure is the
result of such Lender’s determination that one or more conditions precedent to funding (each of
which conditions precedent, together with any applicable default, shall be specifically identified
in such writing) has not been satisfied, or (ii) pay to the Administrative Agent, any L/C Issuer,
the Swing Line Lender or any other Lender any other amount required to be paid by it hereunder
(including in respect of its participation in Letters of Credit or Swing Line Loans) within three
Business Days of the date when due, (b) has notified the Borrower, the Administrative Agent or any
Lender that it does not intend to comply with its funding obligations or has made a public
statement to that effect with respect to its funding obligations hereunder or under other
agreements generally in which it commits to extend credit, (c) has failed, within three Business
Days after request by the Administrative Agent, to confirm in writing to the Administrative Agent
that it will comply with its funding obligations (provided that such Lender shall cease to
be a Defaulting Lender pursuant to this clause (c) upon receipt of such written
confirmation by the Administrative Agent), or (d) has, or has a direct or indirect parent company
that has, (i) become the subject of a proceeding under any Debtor Relief Law, (ii) had a receiver,
conservator, trustee, administrator, assignee for the benefit of creditors or similar Person
charged with reorganization or liquidation of its business or a custodian appointed for it, or
(iii) taken any action in furtherance of, or indicated its consent to, approval of or acquiescence
in any such proceeding or appointment; provided that a Lender shall not be a Defaulting Lender
solely by virtue of the ownership or acquisition of any equity interest in that Lender or any
direct or indirect parent company thereof by a Governmental Authority. Any determination by the
Administrative Agent that a Lender is a Defaulting Lender under clauses (a) through
(d) above shall be conclusive and binding absent manifest error, and such Lender shall be
deemed to be a Defaulting Lender (subject to Section 2.16(b)) upon delivery of written
notice of such determination to the Borrower, each L/C Issuer, the Swing Line Lender and each
Lender.

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

     “Dollar Equivalent Amount” means, with respect to a Canadian Dollar amount, the amount
of Dollars into which the Canadian Dollar amount would be converted, based on the applicable
Exchange Rate.

11

 

     “Domestic Subsidiary” means any Subsidiary that is organized under the laws of any
political subdivision of the United States (for the avoidance of doubt, excluding Puerto Rico).

     “Effective Date” means the first date all the conditions precedent in Section
4.01 are satisfied or waived in accordance with Section 10.01.

     “Eligible Assignee” means any Person that meets the requirements to be an assignee
under Section 10.06(b)(iii), (v) and (vi) (subject to such consents, if
any, as may be required under Section 10.06(b)(iii)).

     “Environmental Claims” means all written claims, however asserted, by any Governmental
Authority or other Person alleging potential liability or responsibility for violation of any
Environmental Law, or for release or injury to the environment.

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

     “Environmental Liability” means any liability, contingent or otherwise (including any
liability for damages, costs of environmental remediation, fines, penalties or indemnities), of the
Borrower or any of its 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 Interests” means, with respect to any Person, all of the shares of capital
stock of (or other ownership or profit interests in) such Person, all of the warrants, options or
other rights for the purchase or acquisition from such Person of shares of capital stock of (or
other ownership or profit interests in) such Person, all of the securities convertible into or
exchangeable for shares of capital stock of (or other ownership or profit interests in) such Person
or warrants, rights or options for the purchase or acquisition from such Person of such shares (or
such other interests), and all of the other ownership or profit interests in such Person (including
partnership, member or trust interests therein), whether voting or nonvoting, and whether or not
such shares, warrants, options, rights or other interests are outstanding on any date of
determination.

     “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).

12

 

     “ERISA Event” means (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 substantial cessation of operations which are treated as such a withdrawal under
Section 4062(e) of ERISA; (c) a complete or partial withdrawal by the Borrower or any 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 a Pension Plan under Section 4041(c) of ERISA,
the termination of a Multiemployer Plan under 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 might
reasonably be expected to constitute grounds under Section 4042 of ERISA for the termination of, or
the appointment of a trustee to administer, any Pension Plan or Multiemployer Plan; (f) the
imposition of any liability under Title IV of ERISA, other than PBGC premiums due but not
delinquent under Section 4007 of ERISA, upon the Borrower or any ERISA Affiliate or (g) the
determination that any Pension Plan is considered an at-risk plan or a plan in endangered or
critical status within the meaning of Sections 430, 431 and 432 of the Code or Sections 303, 304
and 305 of ERISA.

     “Eurodollar Base Rate” has the meaning specified in the definition of Eurodollar Rate.

     “Eurodollar Rate” means for any Interest Period with respect to a Eurodollar Rate
Loan, a rate per annum determined by the Administrative Agent pursuant to the following formula:

	 	 	 	 	 	 	 
	 
	 	Eurodollar Rate =	 	Eurodollar Base Rate	 	 
	 
	 	 	 	 	 
	 
	 	 	1.00 — Eurodollar Reserve Percentage	 	 

          Where,

          “Eurodollar Base Rate” means, for such Interest Period:

     (a) for any Interest Period with respect to a Eurodollar Rate Loan, the rate per annum
equal to (i) the rate per annum equal to the British Bankers Association LIBOR Rate
(“BBA LIBOR”), as published by Reuters (or another 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 London Banking Days prior to the
commencement of such Interest Period, for deposits in the relevant currency (for delivery on
the first day of such Interest Period) with a term equivalent to such Interest Period or
(ii) if the rate referenced in the preceding clause (i) is not available at such
time for any reason, the rate per annum determined by the Administrative Agent to be the
rate at which Dollar deposits for delivery on the first day of such Interest Period in
immediately available 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 would be offered by Bank of America’s London Branch (or another Bank of America
branch or Affiliate) to major banks in the London or other offshore interbank market for
Dollar deposits at their request at approximately 11:00 a.m. (London time) two London
Banking Days prior to the commencement of such Interest Period; and,

13

 

     (b) for any interest calculation pursuant to clause (c) of the definition of
Base Rate, the rate per annum equal to (i) BBA LIBOR, at approximately 11:00 a.m., London
time determined two London Banking Days prior to such date for Dollar deposits being
delivered in the London interbank market for a term of one month commencing that day or (ii)
if such published rate is not available at such time for any reason, the rate per annum
determined by the Administrative Agent to be the rate at which deposits in Dollars for
delivery on the date of determination in same day funds in the approximate amount of the
Base Rate Loan being made or maintained and with a term equal to one month would be offered
by Bank of America’s London Branch to major banks in the London interbank Eurodollar market
at their request at the date and time of determination.

     “Eurodollar Reserve Percentage” means, for any day during any Interest Period,
the reserve percentage (expressed as a decimal, carried out to five decimal places) in
effect on such day, whether or not applicable to any Lender, under regulations issued from
time to time by the FRB for determining the maximum reserve requirement (including any
emergency, supplemental or other marginal reserve requirement) with respect to Eurodollar
funding (currently referred to as “Eurodollar liabilities”). The Eurodollar Rate for each
outstanding Eurodollar Rate Loan shall be adjusted automatically as of the effective date of
any change in the Eurodollar Reserve Percentage.

     “Eurodollar Rate Loan” means a Committed Loan that bears interest at a rate based on
clause (a) of the definition of Eurodollar Base Rate set forth in the definition of
Eurodollar Rate.

     “Event of Default” has the meaning specified in Section 8.01.

     “Exchange Act” means the Securities Exchange Act of 1934.

     “Exchange Rate” means the Spot Rate of Exchange as of two Business Days preceding the
Valuation Date.

     “Excluded Subsidiary” means each Subsidiary set forth on Schedule 1.01(b) and
each other Subsidiary that is approved from time to time as an Excluded Subsidiary by the
Administrative Agent.

     “Excluded Taxes” means, with respect to the Administrative Agent, any Lender, the L/C
Issuers 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, (c) any backup withholding
tax that is required by the Code to be withheld from amounts payable to a Lender that has failed to
comply with clause (A) of Section 3.01(e)(ii) and (d) in the case of a Foreign
Lender (other than an assignee pursuant to a request by the Borrower under Section 10.13),
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

14

 

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)(ii) or (c).

     “Existing Credit Agreement” has the meaning specified in the Recitals.

     “Existing Letters of Credit” means those standby letters of credit existing on the
Effective Date, issued under the Existing Credit Agreement and set forth on Schedule 2.03
attached hereto.

     “FASB ASC” means the Accounting Standards Codification of the Financial Accounting
Standards Board.

     “Federal Funds Rate” means, for any day, the rate per annum 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 (rounded upward, if necessary, to a whole multiple of 1/100 of 1%)
charged to Bank of America on such day on such transactions as determined by the Administrative
Agent.

     “Fee Letters” means (i) the letter agreement, dated March 15, 2011, among the
Borrower, the Administrative Agent and the Arrangers, and (ii) the letter agreement, dated March 2,
2011, between the Borrower and the Administrative Agent.

     “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 (including such a Lender when
acting in the capacity of the L/C Issuer). For purposes of this definition, the United States,
each State thereof and the District of Columbia shall be deemed to constitute a single
jurisdiction.

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

     “Fronting Exposure” means, at any time there is a Defaulting Lender, (a) with respect
to any L/C Issuer, such Defaulting Lender’s Applicable Percentage of the outstanding L/C
Obligations other than L/C Obligations as to which such Defaulting Lender’s participation
obligation has been reallocated to other Lenders or Cash Collateralized in accordance with the
terms hereof, and (b) with respect to the Swing Line Lender, such Defaulting Lender’s Applicable
Percentage of Swing Line Loans other than Swing Line Loans as to which such Defaulting Lender’s
participation obligation has been reallocated to other Lenders or Cash Collateralized in accordance
with the terms hereof.

     “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 activities.

15

 

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

     “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).

     “Guaranteed Cash Management Agreement” means any Cash Management Agreement that is
entered into by and between any Loan Party and any Cash Management Bank.

     “Guaranteed Hedge Agreement” means any Swap Contract permitted under Article
VII that is entered into by and between any Loan Party and any Hedge Bank.

     “Guaranteed Parties” means, collectively, the Administrative Agent, the Lenders, the
L/C Issuers, the Hedge Banks, the Cash Management Banks and each co-agent or sub-agent appointed by
the Administrative Agent from time to time pursuant to Section 9.05.

     “Guarantors” means, collectively, each Material Subsidiary.

     “Guaranty” means that certain Guaranty Agreement dated as of December 5, 2008 among
the Guarantors party thereto and the Administrative Agent, as amended, supplemented or otherwise
modified prior to the date hereof, as amended and modified by Section 11.01, and as may be
further supplemented from time to time by the execution and delivery of a Guaranty Joinder
Agreement pursuant to Section 6.13.

     “Guaranty Joinder Agreement” means each Guaranty Joinder Agreement, substantially in
the form thereof attached to the Guaranty, executed and delivered by a Guarantor to the
Administrative Agent pursuant to Section 6.13.

     “Guaranty Obligation” has the meaning specified in the definition of Contingent
Obligation.

     “Guaranty Release Requirements” has the meaning specified in Section 6.13.

     “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.

16

 

     “Hedge Bank” means any Person that (a) at the time it enters into a Swap Contract
permitted under Article VII, is a Lender or an Affiliate of a Lender, or (b) at the time it
(or its Affiliate) becomes a Lender, is a party to a Swap Contract, in each case in its capacity as
a party to such Swap Contract.

     “Indebtedness” means, for any Person, without duplication, (a) all indebtedness of
such Person for borrowed money; (b) all obligations issued, undertaken or assumed by such Person as
the deferred purchase price of property or services (other than trade payables entered into in the
ordinary course of business on ordinary terms); (c) all reimbursement or payment obligations of
such Person with respect to Surety Instruments; (d) all obligations of such Person evidenced by
notes, bonds, debentures or similar instruments; (e) all indebtedness of such Person created or
arising under any conditional sale or other title retention agreement, or incurred as financing, in
either case with respect to property acquired by such Person (even though the rights and remedies
of the seller or lender under such agreement in the event of default are limited to repossession or
sale of such property); (f) all obligations of such Person with respect to Capital Leases; (g)
Attributable Indebtedness; (h) all indebtedness of the types referred to in clauses (a)
through (g) above secured by (or for which the holder of such indebtedness has an existing
right, contingent or otherwise, to be secured by) any Lien upon or in property (including accounts
and contracts rights) owned by such Person, even though such Person has not assumed or become
liable for the payment of such Indebtedness, provided that the amount of any such Indebtedness
shall be deemed to be the lesser of the face principal amount thereof and the fair market value of
the property subject to such Lien; and (i) all Guaranty Obligations of such Person in respect of
Indebtedness of the types described above; provided that Indebtedness shall not include
obligations arising out of the endorsement of instruments for deposit or collection in the ordinary
course of business. For all purposes of this Agreement, the Indebtedness of any Person shall
include all Indebtedness of any partnership or joint venture in which such Person is a general
partner or a joint venturer (other than any such Indebtedness which is expressly non-recourse to
such Person).

     “Indemnified Taxes” means Taxes other than Excluded Taxes.

     “Indemnitees” has the meaning specified in Section 10.04(b).

     “Information” has the meaning specified in Section 10.07.

     “Insolvency Proceeding” means, with respect to any Person, (a) any case, action or
proceeding with respect to such Person before any court or other Governmental Authority relating to
bankruptcy, reorganization, insolvency, liquidation, receivership, dissolution, winding-up or
relief of debtors or (b) any general assignment for the benefit of creditors, composition,
marshalling of assets for creditors, or other similar arrangement in respect of its creditors
generally or any substantial portion of its creditors; in each case undertaken under any U.S.
Federal, state or foreign law, including the Bankruptcy Code.

     “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, 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

17

 

Payment Dates; and (b) as to any Base Rate Loan (including a Swing Line 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 week (if offered by all Lenders) or one, two, three or six months (or
nine or twelve months, if offered by all Lenders) thereafter, as selected by the Borrower in its
Committed Loan Notice; 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 scheduled Maturity Date.

     “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, Inc. (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 an L/C Issuer and the
Borrower (or any Subsidiary) or in favor of such L/C Issuer and relating to any such Letter of
Credit.

     “Laws” means, collectively, all international, foreign, Federal, state and local
statutes, treaties, rules, regulations, ordinances, codes and administrative or judicial
determinations, including the interpretation or administration thereof by any Governmental
Authority charged with the enforcement, interpretation or administration thereof, and all
administrative orders, licenses and authorizations of any Governmental Authority applicable to
Borrower and permits of, and agreements with, any Governmental Authority, applicable to Borrower,
any Lender or the Administrative Agent.

     “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 made or refinanced as a Committed
Borrowing.

18

 

     “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 (including
any reinstatement pursuant to Section 2.03(b)(iv)).

     “L/C Issuer” means (i) each Lender set forth on Schedule 1.01(c), (ii) any
replacement letter of credit issuer arising under Section 9.06 and (iii) any other Lender
or any Affiliate of a Lender which has agreed in writing to become an “L/C Issuer” hereunder and
has been approved by the Borrower and the Administrative Agent. All singular references to the L/C
Issuer shall mean any L/C Issuer, the L/C Issuer that has issued the applicable Letter of Credit,
or all L/C Issuers, as the context may require.

     “L/C Obligations” means, as at any date of determination, the aggregate of the Dollar
amount and, as applicable, the Dollar Equivalent Amount available to be drawn under all outstanding
Letters of Credit plus the aggregate of the Dollar amount and, as applicable, the Dollar
Equivalent Amount of all Unreimbursed Amounts, including all L/C Borrowings. For 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.

     “Lender” has the meaning specified in the introductory paragraph hereto and, as the
context requires, includes the Swing Line 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 (including any
Canadian L/C issued pursuant to Section 2.03(a)(iv)) and shall include each Existing Letter
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 Expiration Date” means the day that is seven 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 Fee” has the meaning specified in Section 2.03(h).

     “Lien” means any mortgage, pledge, hypothecation, assignment, deposit arrangement,
encumbrance, lien (statutory or other), or other preferential arrangement in the nature of a
security interest of any kind or nature whatsoever (including any conditional sale or other title
retention agreement, the interest of a lessor under a Capital Lease, and any financing lease having
substantially the same economic effect as any of the foregoing, but not including the interest of a
lessor under an operating lease).

19

 

     “Loan” means an extension of credit in Dollars by a Lender to the Borrower under
Article II in the form of a Committed Loan or a Swing Line Loan.

     “Loan Documents” means this Agreement, each Note, the Guaranty (including any Guaranty
Joinder Agreement), each Issuer Document, any agreement creating or perfecting rights in Cash
Collateral pursuant to the provisions of Section 2.15 of this Agreement and the Fee
Letters.

     “Loan Parties” means, collectively, the Borrower and each Guarantor.

     “London Banking Day” means any day on which dealings in Dollar deposits are conducted
by and between banks in the London interbank eurodollar market.

     “Margin Stock” means “margin stock” as such term is defined in Regulation T, U or X of
the FRB.

     “Material Adverse Effect” means a material adverse change in, or a material adverse
effect upon, the operations, business, properties, assets or condition (financial or otherwise) of
the Borrower and its Subsidiaries taken as a whole.

     “Material Financial Obligation” means Indebtedness, Attributable Indebtedness,
Contingent Obligations and obligations under Swap Contracts of the Borrower or any Subsidiary, and
obligations of the Borrower or any Subsidiary in respect of any Securitization Transaction, in an
aggregate amount (or, in the case of a Swap Contract, having a Swap Termination Value), for all
such Indebtedness, Attributable Indebtedness, Contingent Obligations, obligations under Swap
Contracts and obligations in respect of Securitization Transactions, but without duplication, equal
to $100,000,000 or more.

     “Material Subsidiary” means, as of any date of determination, each direct or indirect
Domestic Subsidiary (other than an Excluded Subsidiary) that (a) has total assets (including Equity
Interests in other Subsidiaries) equal to or greater than 5% of consolidated total assets of the
Borrower and its Subsidiaries (calculated as of the end of the most recent fiscal period for which
financial statements are available), or has revenues equal to or greater than 5% of the
consolidated total revenues of the Borrower and its Subsidiaries (calculated for the most recent
four-fiscal quarter period for which financial statements are available), (b) is designated by the
Borrower as a Material Subsidiary, or (c) guarantees any Senior Note Indebtedness. The Borrower
shall from time to time promptly (and in any event within 30 days after the end of each fiscal
period for which financial statements are available) designate one or more of its Subsidiaries as
Material Subsidiaries to the extent necessary to cause such term to include Subsidiaries of the
Borrower that, together with the Borrower and each other Material Subsidiary, have assets equal to
not less than 90% of consolidated total assets of the Borrower and its Subsidiaries (calculated as
of the end of the most recent fiscal period for which financial statements are available but
excluding the assets of each Allied Unrestricted Subsidiary, each Securitization Subsidiary and any
Republic Insurance Entity from such calculation) and revenues of not less than 90% of the
consolidated total revenues of the Borrower and its Subsidiaries (calculated for the most recent
four-fiscal quarter period for which financial statements are available but excluding the revenues
of each Allied Unrestricted Subsidiary, each Securitization

20

 

Subsidiary and any Republic Insurance Entity from such calculation). For the avoidance of
doubt, the 90% calculation in the immediately preceding sentence shall include the Borrower’s
assets and revenues only to the extent they do not duplicate the assets and revenues of its
Subsidiaries and, without limitation of the foregoing, the Borrower’s Equity Interests in its
Subsidiaries shall not be included in valuing the assets of the Borrower.

     “Maturity Date” means April 20, 2016.

     “Merger Agreement” means that certain Agreement and Plan of Merger dated as of June
22, 2008, among the Borrower, RS Merger Wedge, Inc. and Allied (including all schedules and
exhibits thereto).

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

     “Multiemployer Plan” means a “multiemployer plan”, within the meaning of Section
4001(a)(3) of ERISA, with respect to which the Borrower or any ERISA Affiliate (i) may have any
liability or (ii) has made or been obligated to contribute to during the preceding five plan years.

     “Note” means a promissory note made by the Borrower in favor of a Lender evidencing
Loans made by such Lender, substantially in the form of Exhibit C.

     “Obligations” means all advances to, and debts, liabilities, obligations, covenants
and duties of any Loan Party arising under any Loan Document or otherwise with respect to any Loan,
Letter of Credit, Guaranteed Cash Management Agreement or Guaranteed Hedge Agreement, in each case
whether direct or indirect (including those acquired by assumption), absolute or contingent, due or
to become due, now existing or hereafter arising and including interest and fees that accrue after
the commencement by or against 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.

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

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

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     “Outstanding Amount” means (i) with respect to Committed Loans and Swing Line Loans on
any date, the aggregate outstanding principal amount thereof after giving effect to any borrowings
and prepayments or repayments of Committed Loans and Swing Line Loans, as the case may be,
occurring on such date; and (ii) 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 10.06(d).

     “PBGC” means the Pension Benefit Guaranty Corporation, or any Governmental Authority
succeeding to any of its principal functions under ERISA.

     “Pension Plan” means a pension plan (as defined in Section 3(2) of ERISA), subject to
Title IV of ERISA, other than a Multiemployer Plan, with respect to which the Borrower or any ERISA
Affiliate may have any liability.

     “Permitted Liens” has the meaning specified in Section 7.02.

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

     “Plan” means an employee benefit plan (as defined in Section 3(3) of ERISA), other
than a Multiemployer Plan, with respect to which the Borrower or any ERISA Affiliate may have any
liability, and includes any Pension Plan.

     “Plan Acquisition Date” means, with respect to any Acquired Plan, the first date on
which the Borrower or any ERISA Affiliate may have any liability with respect to such Acquired
Plan.

     “Platform” has the meaning specified in Section 6.02.

     “Priority Indebtedness” means, at any time, the sum (determined on a consolidated
basis without duplication) of (i) all Indebtedness of the Borrower and its Subsidiaries secured by
Liens permitted under clause (k) of Section 7.02 of this Agreement plus (ii) the
aggregate investment or claim held at such time by all purchasers, assignees or other transferees
of (or interests in) receivables and other rights to payment in all Securitization Transactions
plus (iii) the aggregate outstanding amount of Indebtedness of the Borrower’s Subsidiaries
at such time other than (x) Indebtedness of any Guarantor that has not been released from the
Guaranty pursuant to Section 6.13, (y) Indebtedness of any Allied Unrestricted Subsidiary,
any Securitization Subsidiary or any Republic Insurance Entity, and (z) Indebtedness of any
Subsidiary to the Borrower or of any of Subsidiary to another Subsidiary of the Borrower that is
not an Allied Unrestricted Subsidiary, any Securitization Subsidiary or any Republic Insurance
Entity.

     “Public Lender” has the meaning specified in Section 6.02.

     “Rating Agencies” means Moody’s and S&P.

22

 

     “Register” has the meaning specified in Section 10.06(c).

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

     “Regulatory Divestiture” has the meaning specified in the Merger Agreement.

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

     “Reportable Event” means, any of the events set forth in Section 4043(c) of ERISA or
the regulations thereunder, other than any such event for which the 30-day notice requirement under
ERISA has been waived in regulations issued by the PBGC.

     “Republic Indentures” means (i) that certain Indenture dated as of April 15, 2001
between the Borrower and The Bank of New York (now known as The Bank of New York Mellon), as
Trustee, (ii) that certain Indenture dated as of September 8, 2009 between the Borrower and The
Bank of New York Mellon Trust Company, N.A., as Trustee, and (iii) that certain Indenture dated as
of November 25, 2009 between the Borrower and U.S. Bank National Association, as Trustee,
including, in each case, all amendments thereto, supplements thereto and any amendments and
restatements or refinancings thereof.

     “Republic Insurance Entity” means Bom Ambiente, Ltd., a Cayman Islands exempted
company, Republic Services Risk Management, Inc., a Delaware corporation, RSG Cayman Group, Inc., a
Delaware corporation, and each other Subsidiary formed in connection with any captive insurance
program that is approved from time to time as a Republic Insurance Entity by the Administrative
Agent.

     “Request for Credit Extension” means (a) with respect to a 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 Swing Line Loan, a Swing Line
Loan Notice.

     “Required Lenders” means, as of any date of determination, Lenders having more than
50% of the Aggregate Commitments or, if the commitment of each Lender to make Loans and the
obligation of each L/C Issuer to make L/C Credit Extensions have been terminated pursuant to
Section 8.02, Lenders holding in the aggregate more than 50% of the Total Outstandings
(with the aggregate amount of each Lender’s risk participation and funded participation in L/C
Obligations and Swing Line Loans being deemed “held” by such Lender for purposes of this
definition); provided that the Commitment of, and the portion of the Total Outstandings
held or deemed held by, any Defaulting Lender shall be excluded for purposes of making a
determination of Required Lenders.

     “Requirement of Law” means, as to any Person, any law (statutory or common), treaty,
rule or regulation or determination of an arbitrator or of a Governmental Authority, in each case
applicable to or binding upon such Person or any of its property or to which such Person or any of
its property is subject.

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     “Responsible Officer” means the chief executive officer, the president or any vice
president of a Loan Party, or any other officer having substantially the same authority and
responsibility; or, with respect to financial matters, the chief financial officer, the vice
president-finance, the treasurer or any assistant treasurer of a Loan Party, or any other officer
having substantially the same authority and responsibility; or, with respect to corporate offices
and authority, the secretary or assistant secretary of a Loan Party or any other officer having the
same authority and responsibility. 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 Cash” means that amount of cash of the Borrower and its Subsidiaries held
by or pledged to trustees for industrial revenue bonds and tax-exempt financings that is included
on the balance sheet of the Borrower, at any date of determination, in the line item “Restricted
Cash.”

     “Restricted Payment” means, as to any Person, any dividend or other distribution
(whether in cash, securities or other property) with respect to any capital stock or other Equity
Interest of such Person, or any payment (whether in cash, securities or other property), including
any sinking fund or similar deposit, on account of the purchase, redemption, retirement,
acquisition, cancellation or termination of any such capital stock or other Equity Interest, or on
account of any return of capital to such Person’s stockholders, partners or members (or the
equivalent Person thereof).

     “RMI Subsidiaries” means, collectively, Browning-Ferris Industries Energy Systems of
Boston, Inc., Browning-Ferris Industries Services Group, Inc., Browning-Ferris Industries Trans
River (LP), Inc., Browning-Ferris Industries Energy Systems of Plymouth, Inc., Browning-Ferris
Industries Europe, Inc., Browning-Ferris Industries of Asia Pacific, Inc., and Consolidated
Processing, Inc.

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

     “Sarbanes Oxley” means the Sarbanes Oxley Act of 2002.

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

     “Securities Laws” means the Securities Act of 1933, the Securities Exchange Act of
1934, Sarbanes Oxley 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.

     “Securitization Subsidiary” means any special purpose, bankruptcy remote Subsidiary of
the Borrower that purchases accounts receivable, lease receivables or other payment obligations
generated by the Borrower or any of its Subsidiaries in connection with any Securitization
Transaction.

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     “Securitization Transaction” means any sale, assignment or other transfer by the
Borrower or any Subsidiary of accounts receivable, lease receivables or other payment obligations
owing to the Borrower or any Subsidiary or any interest in any of the foregoing, together in each
case with any collections and other proceeds thereof, any collection or deposit accounts related
thereto, and any collateral, guaranties or other property or claims in favor of the Borrower or
such Subsidiary supporting, securing or otherwise relating to any such receivables or other payment
obligations.

     “Senior Note Indebtedness” means any Indebtedness outstanding under any of the Senior
Note Indentures.

     “Senior Note Indentures” means, collectively, the Republic Indentures, the AWNA Senior
Notes Indenture and the Browning-Ferris Indenture.

     “Solvent” means, when used with respect to any Person, that at the time of
determination:

     (a) the fair value of its assets (both at fair valuation and at present fair saleable
value on an orderly basis) is in excess of the total amount of its liabilities, including
Contingent Obligations; and

     (b) it is then able and expects to be able to pay its debts as they mature; and

     (c) it has capital sufficient to carry on its business as conducted and as proposed to
be conducted.

     “Spot Rate of Exchange” means, in determining the Dollar Equivalent Amount of a
specified Canadian Dollar amount as of any date, the spot exchange rate determined by the
Administrative Agent in accordance with its usual procedures for the purchase by the Administrative
Agent of Dollars with Canadian Dollars at approximately 10:00 A.M. on the Business Day that is two
(2) Business Days prior to such 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 securities or other
interests having ordinary voting power for the election of directors or other governing body (other
than securities or interests 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.

     “Surety Instruments” means all letters of credit (including standby and commercial),
banker’s acceptances, bank guaranties, shipside bonds, surety bonds and similar instruments.

     “Swap Contract” means (a) any and all rate swap transactions, basis swaps, credit
derivative transactions, forward rate transactions, commodity swaps, commodity options, forward
commodity contracts, equity or equity index swaps or options, bond or bond price or bond index
swaps or options or forward bond or forward bond price or forward bond index transactions, interest
rate options, forward foreign exchange transactions, cap transactions, floor

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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, and (b) any
and all transactions of any kind, and the related confirmations, which are subject to the terms and
conditions of, or governed by, any form of master agreement published by the International Swaps
and Derivatives Association, Inc., any International Foreign Exchange Master Agreement, or any
other master agreement (any such master agreement, together with any related schedules, a
“Master Agreement”), including any such obligations or liabilities under any Master
Agreement.

     “Swap Termination Value” means, in respect of any one or more Swap Contracts, after
taking into account the effect of any legally enforceable 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).

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

     “Swing Line Lender” means Bank of America in its capacity as provider of Swing Line
Loans, or any successor swing line lender hereunder.

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

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

     “Swing Line Sublimit” means an amount equal to the lesser of (a) $100,000,000 and (b)
the Aggregate Commitments. The Swing Line Sublimit is part of, and not in addition to, the
Aggregate Commitments.

     “Synthetic Lease Obligation” means the monetary obligation of a Person under (a) a
so-called synthetic, off-balance sheet or tax retention lease, or (b) an agreement for the use or
possession of property creating obligations that do not appear on the balance sheet of such Person
but which, upon the insolvency or bankruptcy of such Person, would be characterized as the
indebtedness of such Person (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.

     “Total Debt” means, at any time, the sum (determined on a consolidated basis and
without duplication) of all Indebtedness of the Borrower and its Subsidiaries, excluding contingent
obligations with respect to Surety Instruments (other than any letter of credit issued

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for the account of the Borrower or any Subsidiary to support Indebtedness of a Person other
than the Borrower or any Subsidiary).

     “Total Debt to EBITDA Ratio” means in respect of any Computation Period the ratio of
(a) Total Debt minus Restricted Cash, as at the end of such Computation Period, to (b)
Consolidated EBITDA for such Computation Period.

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

     “Type” means, with respect to a Committed Loan, its character as a Base Rate Loan or a
Eurodollar Rate Loan.

     “Unfunded Pension Liability” means the excess of a Pension Plan’s benefit liabilities
under Section 4001(a)(16) of ERISA, over the current value of that Pension Plan’s assets,
determined in accordance with the assumptions used for funding the Pension Plan pursuant to Section
412 of the Code for the applicable plan year.

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

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

     “Valuation Date” means any of (i) the date of any Credit Extension, (ii) the date of
any L/C Borrowing, and (iii) any other date when there are outstanding Canadian L/Cs that the
Administrative Agent shall determine the Dollar Equivalent Amount of Canadian L/Cs.

     “Wholly-Owned Subsidiary” means any Subsidiary in which (other than directors’
qualifying shares required by law) 100% of the capital stock, membership interests or other Equity
Interests of each class having ordinary voting power, and 100% of the capital stock, membership
interests or other Equity Interests of every other class, in each case, at the time as of which any
determination is being made, is owned, beneficially and of record, by the Borrower, or by one or
more of the other Wholly-Owned Subsidiaries, or both.

     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

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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, (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 specified, refer to
such law or regulation as amended, modified or supplemented from time to time, and (vi) the words
“asset” and “property” shall be construed to have the same meaning and effect and
to refer to any and all tangible and intangible assets and properties, including cash, securities,
accounts and contract rights.

     (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. All accounting terms not specifically or
completely 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, except as otherwise specifically prescribed herein and without giving effect to
any change in GAAP which would require the Borrower to “mark-for-market” its obligations under Swap
Contracts (unless (i) the Borrower and the Required Lenders agree to give effect to such changes or
(ii) the Borrower has recognized a gain or loss as a result of such Swap Contract).
Notwithstanding the foregoing, for purposes of determining compliance with any covenant (including
the computation of any financial covenant) contained herein, Indebtedness of the Borrower and its
Subsidiaries shall be deemed to be carried at 100% of the outstanding principal amount thereof, and
the effects of FASB ASC 825 and FASB ASC 470-20 on financial liabilities shall be disregarded.

     (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, 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, 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.

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     (c) Consolidation of Variable Interest Entities. All references herein to
consolidated financial statements of the Borrower and its Subsidiaries or to the determination of
any amount for the Borrower and its Subsidiaries on a consolidated basis or any similar reference
shall, in each case, be deemed to include each variable interest entity that the Borrower is
required to consolidate pursuant to FASB ASC 810 as if such variable interest entity were a
Subsidiary as defined herein.

     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 (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, or, in the case of a Canadian L/C, the
Dollar Equivalent Amount of 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, or, in the case of a Canadian L/C, the Dollar Equivalent Amount of 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. Subject to the terms and conditions set forth herein, each Lender
severally agrees to make loans in Dollars (each such loan, a “Committed 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 such Lender’s Commitment;
provided, however, that after giving effect to any Committed Borrowing, (i) the
Total Outstandings shall not exceed the Aggregate Commitments, and (ii) the aggregate Outstanding
Amount of the Committed 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 Swing Line Loans shall not exceed such Lender’s Commitment. Within
the limits of each Lender’s Commitment, and subject to the other terms and conditions hereof, the
Borrower may borrow under this Section 2.01, prepay under Section 2.05, and
reborrow under this Section 2.01. Committed Loans may be 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

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Borrower’s irrevocable notice to the Administrative Agent, which may be given by telephone.
Each such notice must be received by the Administrative Agent not later than 1:00 p.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 or conversion to Base
Rate Committed Loans. 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
Sections 2.03(c) and 2.04(c), each Borrowing of or conversion to Base Rate
Committed Loans shall be in a principal amount of $5,000,000 or a whole multiple of $1,000,000 in
excess thereof. Each Committed Loan Notice (whether telephonic or written) shall specify (i)
whether 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 Committed Loan Notice, but fails to specify an
Interest Period, it will be deemed to have specified an Interest Period of one month.

     (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 3:00 p.m. on the
Business Day specified in the applicable Committed Loan Notice. Upon satisfaction of the
applicable conditions set forth in Section 4.02 (and, if such Borrowing is the initial
Credit Extension, Section 4.01), 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 the Committed Loan Notice with respect to such Borrowing 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.

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     (c) Except as otherwise provided herein, 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 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 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, unless the
Administrative Agent otherwise consents, there shall not be more than fifteen Interest Periods in
effect with respect to Committed Loans.

     2.03 Letters of Credit.

     (a) The Letter of Credit Commitment.

     (i) Subject to the terms and conditions set forth herein, (A) each L/C Issuer agrees,
in reliance upon the agreements of the Lenders set forth in this Section 2.03, (1)
from time to time on any Business Day during the period from the Effective 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 properly drawn under
the Letters of Credit; and (B) the Lenders 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, (y) the Total Outstandings shall not exceed the Aggregate
Commitments and (z) the aggregate Outstanding Amount of the Committed 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 Swing Line Loans shall not exceed such Lender’s Commitment. 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. All Existing Letters of Credit shall be deemed to have been
issued pursuant hereto, and from and after the Effective Date shall be subject to and
governed by the terms and conditions hereof. The Borrower agrees to promptly notify the
Administrative Agent of the designation of any Lender or Affiliate of a Lender as an L/C
Issuer.

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     (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 eighteen 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.

     (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 such 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 Effective Date,
or shall impose upon such L/C Issuer any unreimbursed loss, cost or expense which
was not applicable on the Effective Date and which such L/C Issuer in good faith
deems material to it (it being understood that the applicable L/C Issuer shall
promptly notify the Borrower and the Administrative Agent of any of the foregoing
events or circumstances);

     (B) the issuance of such Letter of Credit would violate one or more applicable
policies of such L/C Issuer;

     (C) such Letter of Credit is to be denominated in a currency other than
Dollars, or, only in the case of Bank of America as L/C Issuer, in a currency other
than Dollars or Canadian Dollars;

     (D) such Letter of Credit contains any provisions for automatic reinstatement
of the stated amount after any drawing thereunder; or

     (E) any Lender is at that time a Defaulting Lender, unless the L/C Issuer has
entered into arrangements, including the delivery of Cash Collateral, satisfactory
to the L/C Issuer (in its sole discretion) with the Borrower or such Lender to
eliminate the L/C Issuer’s actual or potential Fronting Exposure (after giving
effect to Section 2.16(a)(iv)) with respect to the Defaulting Lender arising
from either (i) the Letter of Credit then proposed to be issued as to which the L/C
Issuer has potential Fronting Exposure or (ii) that Letter of Credit and all other
L/C Obligations as to which the L/C Issuer has actual Fronting Exposure, in each
case, as it may elect in its sole discretion.

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     (iv) On the terms and conditions set forth herein any L/C Issuer may issue upon request
and for the account of the Borrower (or the applicable Subsidiary) a standby Canadian L/C.
For purposes of determining L/C Obligations, any Canadian L/C shall be recorded in the
Administrative Agent’s account in Dollars based on the Dollar Equivalent Amount on the date
of issuance of such Canadian L/C; provided, however, that the Administrative
Agent shall determine the Dollar Equivalent Amount of any Canadian L/C on the Valuation Date
for the purpose of determining L/C Obligations. Any draw on a Canadian L/C shall be repaid
in Canadian Dollars in an amount equal to the amount of the draw in Canadian Dollars. If at
any time there is a drawing under a Canadian L/C and the Borrower shall not promptly
reimburse such drawing as provided in Section 2.03(c), the Borrower shall be
obligated to immediately repay to the Administrative Agent for the benefit of the Lenders an
amount in Dollars equal to the Dollar Equivalent Amount of the Canadian Dollars paid by the
applicable L/C Issuer to the beneficiary of such Canadian L/C on the date of such drawing.

     (v) No L/C Issuer shall amend any Letter of Credit if such L/C Issuer would not be
permitted at such time to issue such Letter of Credit in its amended form under the terms
hereof.

     (vi) 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.

     (vii) Each L/C Issuer shall act on behalf of the Lenders with respect to any Letters of
Credit issued by it and the documents associated therewith, and each L/C Issuer shall have
all of the benefits and immunities (A) provided to the Administrative Agent in Article
IX with respect to any acts taken or omissions suffered by such L/C Issuer in connection
with Letters of Credit issued by it or proposed to be issued by it and Issuer Documents
pertaining to such Letters of Credit as fully as if the term “Administrative Agent” as used
in Article IX included each L/C Issuer with respect to such acts or omissions, and
(B) as additionally provided herein with respect to each L/C Issuer.

     (b) Procedures for Issuance and Amendment of Letters of Credit; Auto-Extension Letters of
Credit; Auto-Reinstatement 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 (or through such other procedures as may
otherwise be approved by the applicable L/C Issuer and the Administrative Agent, including
electronic communications in accordance with subsection 10.02(b)). Such Letter of
Credit Application must be received by the applicable L/C Issuer and the Administrative
Agent not later than 1:00 p.m. at least two Business Days (or such later date and time as
such L/C Issuer may agree in its sole discretion) prior to the proposed issuance date or
date of amendment, as the case may be.

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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 reasonably 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; (F) the full text of any certificate to be
presented by such beneficiary in case of any drawing thereunder; (G) the purpose and nature
of the requested Letter of Credit; and (H) such other matters as the applicable L/C Issuer
may reasonably 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 reasonably
satisfactory to the applicable L/C Issuer (A) the Letter of Credit to be amended; (B) the
proposed date of amendment thereof (which shall be a Business Day); (C) the nature of the
proposed amendment; and (D) such other matters as the applicable L/C Issuer may reasonably
require. Additionally, the Borrower shall furnish to the applicable L/C Issuer and the
Administrative Agent such other documents and information pertaining to such requested
Letter of Credit issuance or amendment, including any Issuer Documents, as such L/C Issuer
or the Administrative Agent may require.

     (ii) Promptly after receipt of any Letter of Credit Application, the applicable L/C
Issuer will confirm with the Administrative Agent (by telephone or in writing) that the
Administrative Agent has received a copy of such Letter of Credit Application from the
Borrower and, if not, such L/C Issuer will provide the Administrative Agent with a copy
thereof. Unless the applicable L/C Issuer has received written notice from any Lender, the
Administrative Agent or the Borrower, at least one Business Day prior to the requested date
of issuance or amendment of the applicable Letter of Credit, that one or more applicable
conditions contained in Article IV shall not then be satisfied, then, subject to the
terms and conditions hereof, such 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, each Lender 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
such 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 such 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

34

 

Letter of Credit at any time to an expiry date not later than the Letter of Credit
Expiration Date; provided, however, that such L/C Issuer shall not permit
any such extension if (A) such 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
(as extended) 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 seven 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, any Lender
or the Borrower that one or more of the applicable conditions specified in Section
4.02 is not then satisfied, and in each such case directing such L/C Issuer not to
permit such extension.

     (iv) If the Borrower so requests in any applicable Letter of Credit Application, an L/C
Issuer may, in its sole and absolute discretion, agree to issue a Letter of Credit that
permits the automatic reinstatement of all or a portion of the stated amount thereof after
any drawing thereunder (each, an “Auto-Reinstatement Letter of Credit”). Unless
otherwise directed by such L/C Issuer, the Borrower shall not be required to make a specific
request to such L/C Issuer to permit such reinstatement. Once an Auto-Reinstatement Letter
of Credit has been issued, except as provided in the following sentence, the Lenders shall
be deemed to have authorized (but may not require) the applicable L/C Issuer to reinstate
all or a portion of the stated amount thereof in accordance with the provisions of such
Letter of Credit. Notwithstanding the foregoing, if such Auto-Reinstatement Letter of
Credit permits an L/C Issuer to decline to reinstate all or any portion of the stated amount
thereof after a drawing thereunder by giving notice of such non-reinstatement within a
specified number of days after such drawing (the “Non-Reinstatement Deadline”), such
L/C Issuer shall not permit such reinstatement if it has received a notice (which may be by
telephone or in writing) on or before the day that is seven Business Days before the
Non-Reinstatement Deadline (A) from the Administrative Agent that the Required Lenders have
elected not to permit such reinstatement or (B) from the Administrative Agent, any Lender or
the Borrower that one or more of the applicable conditions specified in Section 4.02
is not then satisfied or that such reinstatement would violate the proviso to the first
sentence of Section 2.03(a)(i) (treating such reinstatement as an L/C Credit
Extension for purposes of this clause) and, in each case, directing such L/C Issuer not to
permit such reinstatement.

     (v) 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.

     (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. Not later than 1:00 p.m. on the date of any payment by
the applicable L/C Issuer under a Letter of Credit (each such date, an “Honor

35

 

Date”), the Borrower shall reimburse such L/C Issuer through the Administrative
Agent in an amount equal to the amount of such drawing; provided, that if any
payment is made by an L/C Issuer after 1:00 p.m. on an Honor Date, such reimbursement shall
occur not later than 1:00 p.m. on the first Business Day occurring after such Honor Date.
If the Borrower fails to so reimburse the applicable L/C Issuer by such time, the
Administrative Agent shall promptly notify each Lender 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 Committed Borrowing of Base Rate Loans in Dollars to be disbursed on the Honor
Date in an amount equal to the Unreimbursed Amount (or, in the case of any Unreimbursed
Amount in respect of any Canadian L/C, in an amount equal to the Dollar Equivalent Amount of
such Unreimbursed Amount), without regard to the minimum and multiples specified in
Section 2.02 for the principal amount of Base Rate Loans, but subject to the amount
of the unutilized portion of the Aggregate Commitments and the conditions set forth in
Section 4.02 (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 shall upon any notice pursuant to Section 2.03(c)(i) make
funds available to the Administrative Agent (and the Administrative Agent may apply Cash
Collateral provided for this purpose) 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 3:00 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 Committed 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
Committed Borrowing of Base Rate Loans because the conditions set forth in Section
4.02 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 Committed 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.

36

 

     (v) Each Lender’s obligation to make Committed 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 Committed Loans
pursuant to this Section 2.03(c) is subject to the conditions set forth in
Section 4.02 (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 such
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), then, without limiting the other provisions of this Agreement, such 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 such L/C
Issuer at a rate per annum equal to the greater of the Federal Funds Rate and a rate
determined by such L/C Issuer in accordance with banking industry rules on interbank
compensation, plus any administrative, processing or similar fees customarily charged by the
L/C Issuer in connection with the foregoing. If such Lender pays such amount (with interest
and fees as aforesaid), the amount so paid (other than interest and fees as aforesaid) shall
constitute such Lender’s Committed Loan included in the relevant Committed Borrowing or L/C
Advance in respect of the relevant L/C Borrowing, as the case may be. 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 such 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

37

 

any of the circumstances described in Section 10.05 (including pursuant to any
settlement entered into by such L/C Issuer in its discretion), each Lender shall pay to the
Administrative Agent for the account of such 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. The obligations of the Lenders under this clause
shall survive the payment in full of the Obligations and the termination of this Agreement.

     (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;

     (ii) the existence of any claim, counterclaim, setoff, defense or other right that the
Borrower 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 such 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.

     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

38

 

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, the Administrative Agent, any of their respective Related Parties nor any
correspondent, participant or assignee of the applicable L/C Issuer shall be liable to any Lender
for (i) any action taken or omitted in connection herewith at the request or with the approval of
the Lenders or the Required Lenders, as applicable; (ii) any action taken or omitted in the absence
of gross negligence or willful misconduct; or (iii) the due execution, effectiveness, validity or
enforceability of any document or instrument related to any Letter of Credit or Issuer Document.
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
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 applicable L/C Issuer, the Administrative Agent, any of their respective Related
Parties nor any correspondent, participant or assignee of such 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 such L/C Issuer, and such 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 such L/C Issuer’s willful misconduct or gross negligence or such 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 such 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) 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.

     (h) Letter of Credit Fees. The Borrower shall pay to the Administrative Agent for the
account of each Lender in accordance with its Applicable Percentage a Letter of Credit fee (the
“Letter of Credit Fee”) for each Letter of Credit equal to the Applicable Rate
times the daily amount available to be drawn under such Letter of Credit, or in the case of
a Canadian L/C the Dollar Equivalent Amount of such daily amount available to be drawn under such
Canadian L/C; provided, however, any Letter of Credit Fees otherwise payable for the
account of a Defaulting Lender with respect to any Letter of Credit as to which such Defaulting
Lender has not provided

39

 

Cash Collateral satisfactory to the L/C Issuer pursuant to Section 2.16(b) shall be
payable, to the maximum extent permitted by applicable Law, to the other Lenders in accordance with
the upward adjustments in their respective Applicable Percentages allocable to such Letter of
Credit pursuant to Section 2.16(a)(iv), with the balance of such fee, if any, payable to
the L/C Issuer for its own account. For 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 last Business Day 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. If there is any change
in the Applicable Rate during any quarter, the daily amount available to be drawn under each Letter
of Credit shall be computed and multiplied by the Applicable Rate separately for each period during
such quarter that such Applicable Rate was in effect. Notwithstanding anything to the contrary
contained herein, upon the request of the Required Lenders, while any Event of Default exists, all
Letter of Credit Fees shall accrue at the Default Rate.

     (i) Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer. The
Borrower shall pay directly to each L/C Issuer for its own account a fronting fee with respect to
each Letter of Credit issued by such L/C Issuer in an amount to be determined by the Borrower and
the applicable L/C Issuer. Such fronting fee shall be due and payable in full by the Borrower to
the applicable L/C Issuers, with respect to each Letter of Credit, quarterly in arrears on the last
Business Day 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. For 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, unless otherwise agreed with the applicable L/C Issuer, the
Borrower shall pay directly to each L/C Issuer for its own account the customary issuance,
presentation, amendment and other processing fees, and other standard costs and charges, of such
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.

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

     (k) Reporting of Letter of Credit Information. For so long as any Letter of Credit
issued by an L/C Issuer other than Bank of America is outstanding, such L/C Issuer shall deliver to
the Administrative Agent on the last Business Day of each calendar month, and on each date that an
L/C Credit Extension occurs with respect to any such Letter of Credit, a report in the form of
Exhibit G hereto, appropriately completed with the information for every outstanding Letter
of Credit issued by such L/C Issuer. The Administrative Agent shall deliver to the Lenders on a
monthly basis a report of all outstanding Letters of Credit.

     2.04 Swing Line Loans.

     (a) The Swing Line. Subject to the terms and conditions set forth herein, the Swing
Line Lender agrees, in reliance upon the agreements of the other Lenders set forth in this
Section

40

 

2.04, to make loans in Dollars (each such loan, a “Swing Line 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 Swing Line Sublimit, notwithstanding
the fact that such Swing Line Loans, when aggregated with the Applicable Percentage of the
Outstanding Amount of Committed Loans and L/C Obligations of the Lender acting as Swing Line
Lender, may exceed the amount of such Lender’s Commitment; provided, however, that
after giving effect to any Swing Line Loan, (i) the Total Outstandings shall not exceed the
Aggregate Commitments, and (ii) the aggregate Outstanding Amount of the Committed 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
Swing Line Loans shall not exceed such Lender’s Commitment, and provided, further,
that the Borrower shall not use the proceeds of any Swing Line Loan to refinance any outstanding
Swing Line 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. Each Swing Line Loan shall be deemed a Base Rate
Loan notwithstanding anything to the contrary in Section 2.08(a)(iii) regarding the
interest rate applicable to such Swing Line Loan. Immediately upon the making of a Swing Line
Loan, each Lender shall be deemed to, and hereby irrevocably and unconditionally agrees to,
purchase from the Swing Line Lender a risk participation in such Swing Line Loan in an amount equal
to the product of such Lender’s Applicable Percentage times the amount of such Swing Line Loan.

     (b) Borrowing Procedures. Each Swing Line Borrowing shall be made upon the Borrower’s
irrevocable notice to the Swing Line Lender and the Administrative Agent, which may be given by
telephone. Each such notice must be received by the Swing Line Lender and the Administrative Agent
not later than 3:00 p.m. on the requested borrowing date, and shall specify (i) the amount to be
borrowed, which shall be a minimum of $1,000,000 or an integral multiple 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 Swing Line Lender and the Administrative Agent of a written
Swing Line Loan Notice, appropriately completed and signed by a Responsible Officer of the
Borrower. Promptly after receipt by the Swing Line Lender of any telephonic Swing Line Loan
Notice, the Swing Line Lender will confirm with the Administrative Agent (by telephone or in
writing) that the Administrative Agent has also received such Swing Line Loan Notice and, if not,
the Swing Line Lender will notify the Administrative Agent (by telephone or in writing) of the
contents thereof. Unless the Swing Line Lender has received notice (by telephone or in writing)
from the Administrative Agent (including at the request of any Lender) prior to 3:30 p.m. on the
date of the proposed Swing Line Borrowing (A) directing the Swing Line Lender not to make such
Swing Line Loan as a result of the limitations set forth in the first proviso to the first sentence
of Section 2.04(a), or (B) that one or more of the applicable conditions specified in
Article IV is not then satisfied, then, subject to the terms and conditions hereof, the
Swing Line Lender will, not later than 4:00 p.m. on the borrowing date specified in such Swing Line
Loan Notice, make the amount of its Swing Line Loan available to the Borrower at its office by
crediting the account of the Borrower on the books of the Swing Line Lender in immediately
available funds.

41

 

     (c) Refinancing of Swing Line Loans.

     (i) The Swing Line Lender at any time in its sole and absolute discretion may request,
on behalf of the Borrower (which hereby irrevocably authorizes the Swing Line Lender to so
request on its behalf), that each Lender make a Base Rate Committed Loan in an amount equal
to such Lender’s Applicable Percentage of the amount of Swing Line Loans then outstanding.
Such request shall be made in writing (which written request 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 4.02. The Swing Line 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 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 (and the Administrative
Agent may apply Cash Collateral available with respect to the applicable Swing Line Loan)
for the account of the Swing Line Lender at the Administrative Agent’s Office not later than
3:00 p.m. on the day specified in such Committed Loan Notice, whereupon, subject to
Section 2.04(c)(ii), each Lender that so makes funds available shall be deemed to
have made a Base Rate Committed Loan to the Borrower in such amount. The Administrative
Agent shall remit the funds so received to the Swing Line Lender.

     (ii) If for any reason any Swing Line Loan cannot be refinanced by such a Committed
Borrowing in accordance with Section 2.04(c)(i), the request for Base Rate Committed
Loans submitted by the Swing Line Lender as set forth herein shall be deemed to be a request
by the Swing Line Lender that each of the Lenders fund its risk participation in the
relevant Swing Line Loan and each Lender’s payment to the Administrative Agent for the
account of the Swing Line 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 Swing Line 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 Swing Line 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 Swing Line Lender at a rate per annum equal to the greater of
the Federal Funds Rate and a rate determined by the Swing Line Lender in accordance with
banking industry rules on interbank compensation, plus any administrative, processing or
similar fees customarily charged by the Swing Line Lender in connection with the foregoing.
If such Lender pays such amount (with interest and fees as aforesaid), the amount so paid
(other than interest and fees as aforesaid) shall constitute such Lender’s Committed Loan
included in the relevant Committed Borrowing or funded participation in the relevant Swing
Line Loan, as the case may be. A certificate of the Swing Line Lender submitted to any
Lender (through the Administrative Agent)

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with respect to any amounts owing under this clause (iii) shall be conclusive
absent manifest error.

     (iv) Each Lender’s obligation to make Committed Loans or to purchase and fund risk
participations in Swing Line Loans pursuant to this Section 2.04(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 Swing Line 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 Committed Loans pursuant to this Section 2.04(c) is
subject to the conditions set forth in Section 4.02. No such funding of risk
participations shall relieve or otherwise impair the obligation of the Borrower to repay
Swing Line Loans, together with interest as provided herein.

     (d) Repayment of Participations.

     (i) At any time after any Lender has purchased and funded a risk participation in a
Swing Line Loan, if the Swing Line Lender receives any payment on account of such Swing Line
Loan, the Swing Line 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 Swing Line Lender.

     (ii) If any payment received by the Swing Line Lender in respect of principal or
interest on any Swing Line Loan is required to be returned by the Swing Line Lender under
any of the circumstances described in Section 10.05 (including pursuant to any
settlement entered into by the Swing Line Lender in its discretion), each Lender shall pay
to the Swing Line 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 Swing Line Lender. The obligations of the
Lenders under this clause shall survive the payment in full of the Obligations and the
termination of this Agreement.

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

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

     2.05 Prepayments.

     (a) The Borrower may, upon notice to the Administrative Agent, at any time or from time to
time voluntarily prepay Committed Loans in whole or in part without premium or

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penalty; provided that (i) such notice must be received by the Administrative Agent
not later than 1:00 p.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 $5,000,000 or a whole multiple of
$1,000,000 in excess thereof; and (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, in each case, if
less, the entire principal amount thereof then outstanding; provided that if any Borrowing
of Base Rate Loans pursuant to Section 2.03(c)(i) results in the aggregate principal amount
of Base Rate Loans not being an integral multiple of $100,000, then the next prepayment of Base
Rate Loans shall be in an amount that will cause the aggregate principal amount of all Base Rate
Loans to be in an amount equal to an integral multiple of $100,000. Each such notice shall specify
the date and amount of such prepayment and the Type(s) of Committed Loans to be prepaid and, if
Eurodollar Rate Loans are to be repaid, the Interest Period(s) of such Loans. 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. 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.

     (b) The Borrower may, upon notice to the Swing Line Lender (with a copy to the Administrative
Agent), at any time or from time to time, voluntarily prepay Swing Line Loans in whole or in part
without premium or penalty; provided that (i) such notice must be received by the Swing
Line Lender and the Administrative Agent not later than 3:00 p.m. on the date of the prepayment,
and (ii) any such prepayment shall be in a minimum principal amount of $100,000 or an integral
multiple thereof. 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.

     (c) If for any reason the Total Outstandings at any time exceed the Aggregate Commitments then
in effect, the Borrower shall immediately prepay 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 Collateralize the L/C Obligations pursuant to this
Section 2.05(c) unless after the prepayment in full of the Loans the Total Outstandings
exceed the Aggregate Commitments then in effect.

     2.06 Termination or Reduction of Commitments. The Borrower may, upon notice to the
Administrative Agent, terminate the Aggregate Commitments, or from time to time permanently reduce
the Aggregate 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 (except that if no Loans are outstanding hereunder and no Letters of Credit are issued
and outstanding hereunder or the effectiveness of a new credit facility for the Borrower is
conditioned on the termination of this Agreement, any notice terminating the Aggregate Commitments
may be received on the date of termination), (ii) any such partial reduction shall be in an
aggregate amount of $5,000,000 or any whole multiple of

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$1,000,000 in excess thereof, and (iii) the Borrower shall not terminate or reduce the
Aggregate Commitments if, after giving effect thereto and to any concurrent prepayments hereunder,
the Total Outstandings would exceed the Aggregate Commitments; provided that the Borrower
may terminate the Aggregate Commitments if all Loans have been paid in full, the Borrower has Cash
Collateralized, or provided other support acceptable to the applicable L/C Issuer(s) for, all
outstanding Letters of Credit, and there are no outstanding L/C Borrowings. The Administrative
Agent will promptly notify the Lenders of any such notice of termination or reduction of the
Aggregate Commitments. Any reduction of the Aggregate Commitments shall be applied to the
Commitment of each Lender according to its Applicable Percentage. All fees accrued until the
effective date of any termination of the Aggregate Commitments shall be paid on the effective date
of such termination.

     2.07 Repayment of Loans.

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

     (b) The Borrower shall repay each Swing Line Loan on the earlier to occur of (i) the fourth
Business Day following the giving of notice by the Swing Line Lender to the Borrower and (ii) the
Maturity Date.

     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;
(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 Swing Line 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 or such other rate as may be agreed to from time to time by the
Borrower and the Swing Line Lender; provided that after any purchase by the Lenders of a
participation in any Swing Line Loan, the rate of interest on such Swing Line Loan shall not be
less than 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 (after giving affect to any applicable grace periods),
whether at stated maturity, by acceleration or otherwise, then upon the request of 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.

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     (iii) Upon the request of the Required Lenders, while any Event of Default exists, the
Borrower shall pay interest on the principal amount of all outstanding Obligations hereunder
at a fluctuating interest rate per annum at all times equal to the Default Rate to the
fullest extent permitted by applicable Laws.

     (iv) 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 (h) and (i)
of Section 2.03:

     (a) Facility Fee. The Borrower shall pay to the Administrative Agent for the account
of each Lender in accordance with its Applicable Percentage, a facility fee equal to the Applicable
Rate times the actual daily amount of the Aggregate Commitments (or, if the Aggregate
Commitments have terminated, on the Outstanding Amount of all Committed Loans, Swing Line Loans and
L/C Obligations), regardless of usage, subject to adjustment as provided in Section 2.16.
The facility fee shall accrue at all times during the Availability Period (and thereafter so long
as any Committed Loans, Swing Line Loans or L/C Obligations remain outstanding), including at any
time during which one or more of the conditions in Article IV is not met, and shall be due
and payable quarterly in arrears on the last Business Day of each March, June, September and
December, commencing with the first such date to occur after the Effective Date, and on the
Maturity Date (and, if applicable, thereafter on demand). The facility fee shall be calculated
quarterly in arrears, and if there is any change in the Applicable Rate during any quarter, the
actual daily amount shall be computed and multiplied by the Applicable Rate separately for each
period during such quarter that such Applicable Rate was in effect.

     (b) Other Fees.

     (i) The Borrower shall pay 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. Such
fees shall be fully earned when paid and shall not be refundable for any reason whatsoever.

     (ii) The Borrower shall pay to the Lenders such fees as shall have been separately
agreed upon in writing in the amounts and at the times so specified. 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 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

46

 

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 manifest 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 Note,
which shall evidence such Lender’s Loans in addition to such accounts or records. Each Lender may
attach schedules to its 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
and Swing Line 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 manifest error.

     2.12 Payments Generally; Administrative Agent’s Clawback.

     (a) General. All payments to be made by the Borrower shall be made without condition
or 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 3:00 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 3:00 p.m. shall be deemed 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.

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(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 2:00 p.m. 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 the date such amount is made
available to the Borrower to 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, plus any administrative processing or similar fees customarily
charged by the Administrative Agent in connection with the foregoing, and (B) in the case of
a payment to be made by the Borrower, the interest rate applicable to the applicable
Borrowing. 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 Committed Loan included in such
Committed Borrowing. Any 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 any L/C
Issuer 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 such L/C Issuer, 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 the applicable L/C Issuer, 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 the date such amount is distributed to it to 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.

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     (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 IV 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, to fund participations in Letters of Credit and Swing Line Loans and to make
payments pursuant to Section 10.04(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
10.04(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, to purchase its participation or to make its payment under
Section 10.04(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 the participations in L/C Obligations or in Swing Line 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 Committed Loans and subparticipations in L/C Obligations and Swing Line 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
(including the application of funds arising from the existence of a Defaulting Lender), (y)
the application of Cash Collateral provided for in Section 2.15, or (z) 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

49

 

Swing Line 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).

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

     2.14 Increase in Commitments.

     (a) Request for Increase. Provided there exists no Default, upon notice to the
Administrative Agent (which shall promptly notify the Lenders), the Borrower may from time to time,
request an increase in the Aggregate Commitments by an amount (for all such requests) not exceeding
$500,000,000 plus the amount, if any, by which the Aggregate Commitments have been reduced
as the result of any termination of the Commitment of any Lender pursuant to Section 10.13;
provided that (i) any such request for an increase shall be in a minimum amount of
$100,000,000, (ii) the Borrower may make a maximum of five such requests, (iii) any such increased
or additional Commitment shall be obtained from one or more existing Lenders (it being understood
that no existing Lender shall be required to increase its Commitment) and/or other Persons that
qualify as Eligible Assignees and (iv) no increase in the Aggregate Commitments shall increase the
Swing Line Sublimit.

     (b) Additional Lenders. Any Person that is to become a Lender pursuant to this
Section 2.14 shall execute and deliver a joinder agreement in form and substance reasonably
satisfactory to the Administrative Agent and its counsel.

     (c) Effective Date and Allocations. If the Aggregate Commitments are increased in
accordance with this Section, the Administrative Agent and the Borrower shall determine the
effective date (the “Increase Effective Date”) and the final allocation of such increase.
The Administrative Agent shall promptly notify the Borrower and the Lenders of the Increase
Effective Date and the Commitments and Applicable Percentages of the Lenders after giving effect
thereto.

     (d) Conditions to Effectiveness of Increase. As a condition precedent to such
increase, the Borrower shall deliver to the Administrative Agent a certificate of each Loan Party
dated as of the Increase Effective Date (in sufficient copies for each Lender) signed by a
Responsible Officer of each Loan Party (i) certifying and attaching the resolutions adopted by the
Loan Parties approving or consenting to such increase, and (ii) certifying that, before and after
giving effect to such increase, (A) the representations and warranties contained in Article
V are true and correct on and as of the Increase Effective Date, except to the extent that such
representations and warranties specifically refer to an earlier date, in which case they are true
and correct as of such earlier date, and except that for purposes of this Section 2.14, the
representations and warranties contained in subsection (a) of Section 5.11 shall be
deemed to refer to the most recent statements furnished pursuant to clause (a) of
Section 6.01, and (B) no Default exists. The Borrower shall prepay any Committed Loans
outstanding on the Increase Effective Date (and pay any additional amounts required pursuant to
Section 3.05) to the extent

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necessary to keep the outstanding Committed Loans ratable with any revised Applicable
Percentages arising from any nonratable increase in the Commitments under this Section.

     (e) Conflicting Provisions. This Section shall supersede any provisions in
Section 2.13 or 10.01 to the contrary.

     2.15 Cash Collateral.

     (a) Certain Credit Support Events. (i) Upon the request of any L/C Issuer, if such
L/C Issuer has honored any full or partial drawing request under any Letter of Credit issued by
such L/C Issuer and such drawing has resulted in an L/C Borrowing, the Borrower shall, in each
case, immediately Cash Collateralize the then Outstanding Amount of all L/C Obligations with
respect to such L/C Issuer; or (ii) upon the request of the Administrative Agent or any L/C Issuer
if, as of the Letter of Credit Expiration Date, any L/C Obligation for any reason remains
outstanding, the Borrower shall, in each case, immediately Cash Collateralize the then Outstanding
Amount of all L/C Obligations. At any time that there shall exist a Defaulting Lender, immediately
upon the request of the Administrative Agent, any L/C Issuer or the Swing Line Lender, the Borrower
shall deliver to the Administrative Agent Cash Collateral in an amount sufficient to cover all
Fronting Exposure (after giving effect to Section 2.16(a)(iv) and any Cash Collateral
provided by the Defaulting Lender).

     (b) Grant of Security Interest. All Cash Collateral (other than credit support not
constituting funds subject to deposit) shall be maintained in blocked, non-interest bearing deposit
accounts at Bank of America. The Borrower, and to the extent provided by any Lender, such Lender,
hereby grants to (and subjects to the control of) the Administrative Agent, for the benefit of the
Administrative Agent, the L/C Issuers and the Lenders (including the Swing Line Lender), and agrees
to maintain, a first priority security interest in all such cash, deposit accounts and all balances
therein, and all other property so provided as collateral pursuant hereto, and in all proceeds of
the foregoing, all as security for the obligations to which such Cash Collateral may be applied
pursuant to Section 2.15(c). If at any time the Administrative Agent determines that Cash
Collateral is subject to any right or claim of any Person other than the Administrative Agent as
herein provided, or that the total amount of such Cash Collateral is less than the applicable
Fronting Exposure (after giving effect to Section 2.16(a)(iv)) and other obligations
secured thereby (as identified at the time such Cash Collateral is provided), the Borrower or the
relevant Defaulting Lender will, promptly upon demand by the Administrative Agent, pay or provide
to the Administrative Agent additional Cash Collateral in an amount sufficient to eliminate such
deficiency.

     (c) Application. Notwithstanding anything to the contrary contained in this
Agreement, Cash Collateral provided under any of this Section 2.15 or Sections
2.03, 2.04, 2.05, 2.16 or 8.02 in respect of Letters of Credit
or Swing Line Loans shall be held and applied to the satisfaction of the specific L/C Obligations,
Swing Line Loans, obligations to fund participations therein (including, as to Cash Collateral
provided by a Defaulting Lender, any interest accrued on such obligation) and other obligations (as
identified at the time of the provision thereof) for which the Cash Collateral was so provided,
prior to any other application of such property as may be provided for herein.

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     (d) Release. Cash Collateral (or the appropriate portion thereof) provided to reduce
Fronting Exposure or other obligations shall be released promptly following (i) the elimination of
the applicable Fronting Exposure or other obligations giving rise thereto (including by the
termination of Defaulting Lender status of the applicable Lender (or, as appropriate, its assignee
following compliance with Section 10.06(b)(vii))) or (ii) the Administrative Agent’s good
faith determination that there exists excess Cash Collateral; provided, however, (x) that
Cash Collateral furnished by or on behalf of a Loan Party shall not be released during the
continuance of a Default or Event of Default (and following application as provided in this
Section 2.15 may be otherwise applied in accordance with Section 8.04), and (y) the
Person providing Cash Collateral and the applicable L/C Issuer or Swing Line Lender, as applicable,
may agree that Cash Collateral shall not be released but instead held to support future anticipated
Fronting Exposure or other obligations.

     2.16 Defaulting Lenders.

     (a) Adjustments. Notwithstanding anything to the contrary contained in this
Agreement, if any Lender becomes a Defaulting Lender, then, until such time as that Lender is no
longer a Defaulting Lender, to the extent permitted by applicable Law:

     (i) Waivers and Amendments. That Defaulting Lender’s right to approve or
disapprove any amendment, waiver or consent with respect to this Agreement shall be
restricted as set forth in Section 10.01.

     (ii) Reallocation of Payments. Any payment of principal, interest, fees or
other amounts received by the Administrative Agent for the account of that Defaulting Lender
(whether voluntary or mandatory, at maturity, pursuant to Article VIII or otherwise,
and including any amounts made available to the Administrative Agent by that Defaulting
Lender pursuant to Section 10.08), shall be applied at such time or times as may be
determined by the Administrative Agent as follows: first, to the payment of any amounts
owing by that Defaulting Lender to the Administrative Agent hereunder; second, to the
payment on a pro rata basis of any amounts owing by that Defaulting Lender to any L/C Issuer
or Swing Line Lender hereunder; third, if so determined by the Administrative Agent or
requested by the applicable L/C Issuer or Swing Line Lender, to be held as Cash Collateral
for future funding obligations of that Defaulting Lender of any participation in any Swing
Line Loan or Letter of Credit; fourth, as the Borrower may request (so long as no Default or
Event of Default exists), to the funding of any Loan in respect of which that Defaulting
Lender has failed to fund its portion thereof as required by this Agreement, as determined
by the Administrative Agent; fifth, if so determined by the Administrative Agent and the
Borrower, to be held in a non-interest bearing deposit account and released in order to
satisfy obligations of that Defaulting Lender to fund Loans under this Agreement; sixth, to
the payment of any amounts owing to the Lenders, the L/C Issuers or Swing Line Lender as a
result of any judgment of a court of competent jurisdiction obtained by any Lender, L/C
Issuer or Swing Line Lender against that Defaulting Lender as a result of that Defaulting
Lender’s breach of its obligations under this Agreement; seventh, so long as no Default or
Event of Default exists, to the payment of any amounts owing to the
Borrower as a result of any judgment of a court of competent jurisdiction
obtained by the Borrower against that Defaulting

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Lender as a result of that Defaulting
Lender’s breach of its obligations under this Agreement; and eighth, to that Defaulting
Lender or as otherwise directed by a court of competent jurisdiction; provided that
if (x) such payment is a payment of the principal amount of any Loans or L/C Borrowings in
respect of which that Defaulting Lender has not fully funded its appropriate share and (y)
such Loans or L/C Borrowings were made at a time when the conditions set forth in
Section 4.02 were satisfied or waived, such payment shall be applied solely to pay
the Loans of, and L/C Borrowings owed to, all non-Defaulting Lenders on a pro rata basis
prior to being applied to the payment of any Loans of, or L/C Borrowings owed to, that
Defaulting Lender. Any payments, prepayments or other amounts paid or payable to a
Defaulting Lender that are applied (or held) to pay amounts owed by a Defaulting Lender or
to post Cash Collateral pursuant to this Section 2.16(a)(ii) shall be deemed paid to
and redirected by that Defaulting Lender, and each Lender irrevocably consents hereto.

     (iii) Certain Fees. That Defaulting Lender (x) shall be entitled to receive
any facility fee pursuant to Section 2.09(a) for any period during which that Lender
is a Defaulting Lender only to extent allocable to the sum of (1) the Outstanding Amount of
the Committed Loans funded by it and (2) its Applicable Percentage of the stated amount of
Letters of Credit and Swing Line Loans for which it has provided Cash Collateral pursuant to
Section 2.03, Section 2.04, Section 2.15, or Section
2.16(a)(ii), as applicable (and the Borrower shall (A) be required to pay to each of the
L/C Issuers and the Swing Line Lender, as applicable, the amount of such fee allocable to
its Fronting Exposure arising from that Defaulting Lender and (B) not be required to pay the
remaining amount of such fee that otherwise would have been required to have been paid to
that Defaulting Lender) and (y) shall be limited in its right to receive Letter of Credit
Fees as provided in Section 2.03(h).

     (iv) Reallocation of Applicable Percentages to Reduce Fronting Exposure.
During any period in which there is a Defaulting Lender, for purposes of computing the
amount of the obligation of each non-Defaulting Lender to acquire, refinance or fund
participations in Letters of Credit or Swing Line Loans pursuant to Sections 2.03
and 2.04, the “Applicable Percentage” of each non-Defaulting Lender shall be
computed without giving effect to the Commitment of that Defaulting Lender;
provided, that, (i) each such reallocation shall be given effect only if, at the
date the applicable Lender becomes a Defaulting Lender, no Default or Event of Default
exists; and (ii) the aggregate obligation of each non-Defaulting Lender to acquire,
refinance or fund participations in Letters of Credit and Swing Line Loans shall not exceed
the positive difference, if any, of (1) the Commitment of that non-Defaulting Lender
minus (2) the aggregate Outstanding Amount of the Committed Loans of that Lender.

     (b) Defaulting Lender Cure. If the Borrower, the Administrative Agent, Swing Line
Lender and the L/C Issuers agree in writing in their sole discretion that a Defaulting Lender
should no longer be deemed to be a Defaulting Lender, the Administrative Agent will so notify the
parties hereto, whereupon as of the effective date specified in such notice and subject to any
conditions set forth therein (which may include arrangements with respect to any Cash Collateral),
that Lender will, to the extent applicable, purchase that portion of outstanding Loans of the other Lenders or take such other actions as the Administrative Agent may determine to
be necessary to cause the Committed Loans and funded and unfunded participations in Letters of

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Credit and Swing Line Loans to be held on a pro rata basis by the Lenders in accordance with their
Applicable Percentages (without giving effect to Section 2.16(a)(iv)), whereupon that
Lender will cease to be a Defaulting Lender; provided that no adjustments will be made
retroactively with respect to fees accrued or payments made by or on behalf of the Borrower while
that Lender was a Defaulting Lender; and provided, further, that except to the extent
otherwise expressly agreed by the affected parties, no change hereunder from Defaulting Lender to
Lender will constitute a waiver or release of any claim of any party hereunder arising from that
Lender’s having been a Defaulting Lender.

ARTICLE III.

TAXES, YIELD PROTECTION AND ILLEGALITY

     3.01 Taxes.

     (a) (i) Payments Free of Taxes; Obligation to Withhold; Payments on Account of
Taxes. Any and all payments by or on account of any obligation of the Borrower
hereunder or under any other Loan Document shall to the extent permitted by applicable Laws
be made free and clear of and without reduction or withholding for any Taxes. If, however,
applicable Laws require the Borrower or the Administrative Agent to withhold or deduct any
Tax, such Tax shall be withheld or deducted in accordance with such Laws as determined by
the Borrower or the Administrative Agent, as the case may be, upon the basis of the
information and documentation to be delivered pursuant to subsection (e) below.

     (ii) If the Borrower or the Administrative Agent shall be required by the Code to
withhold or deduct any Taxes, including both United States Federal backup withholding and
withholding taxes, from any payment, then (A) the Administrative Agent shall withhold or
make such deductions as are determined by the Administrative Agent to be required based upon
the information and documentation it has received pursuant to subsection (e) below,
(B) the Administrative Agent shall timely pay the full amount withheld or deducted to the
relevant Governmental Authority in accordance with the Code, and (C) to the extent that the
withholding or deduction is made on account of Indemnified Taxes or Other Taxes, the sum
payable by the Borrower shall be increased as necessary so that after any required
withholding or the making of all required deductions (including deductions applicable to
additional sums payable under this Section) the Administrative Agent, the applicable Lender
or the applicable L/C Issuer, as the case may be, receives an amount equal to the sum it
would have received had no such withholding or deduction been made.

     (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 Laws.

     (c) Tax Indemnifications.

     (i) Without limiting the provisions of subsection (a) or (b) above, the
Borrower shall, and does hereby, indemnify the Administrative Agent, each Lender and

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each L/C Issuer, and shall make payment in respect thereof within 30 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)
withheld or deducted by the Borrower or the Administrative Agent or 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. The Borrower shall also, and does hereby indemnify the
Administrative Agent, and shall make payment in respect thereof within 30 days after demand
therefore, for any amount which a Lender or an L/C Issuer for any reason fails to pay
indefeasibly to the Administrative Agent as required by clause (ii) of this
subsection. A certificate as to the amount of any 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.

     (ii) Without limiting the provisions of subsection (a) or (b) above,
each Lender and each L/C Issuer shall, and does hereby, indemnify the Borrower and the
Administrative Agent, and shall make payment in respect thereof within 30 days after demand
therefore, against any and all Taxes and any and all related losses, claims, liabilities,
penalties, interest and expenses (including the fees, charges and disbursements of any
counsel for the Borrower or the Administrative Agent) incurred by or asserted against the
Borrower or the Administrative Agent by any Governmental Authority as a result of the
failure by such Lender or such L/C Issuer, as the case may be, to deliver, or as a result of
the inaccuracy, inadequacy or deficiency of, any documentation required to be delivered by
such Lender or such L/C Issuer, as the case may be, to the Borrower or the Administrative
Agent pursuant to subsection (e). Each Lender and each L/C Issuer hereby authorizes
the Administrative Agent to set off and apply any and all amounts at any time owing to such
Lender or such L/C Issuer, as the case may be, under this Agreement or any other Loan
Document against any amount due the Administrative Agent under this clause (ii).
The agreements in this clause (ii) shall survive the resignation and/or replacement
of the Administrative Agent, any assignment of rights by, or the replacement of, a Lender or
an L/C Issuer, the termination of the Aggregate Commitments and the repayment, satisfaction
or discharge of all other Obligations.

     (d) Evidence of Payments. Upon request of the Borrower or the Administrative Agent,
as the case may be, after any payment of Taxes by the Borrower or by the Administrative Agent to a
Governmental Authority as provided in this Section 3.01, the Borrower shall deliver to the
Administrative Agent or the Administrative Agent shall deliver to the Borrower, as the case may be,
the original or a certified copy of a receipt issued by such Governmental Authority evidencing such
payment, a copy of any return required by Laws to report such payment or other evidence of such
payment reasonably satisfactory to the Borrower or the Administrative Agent, as the case may be.

     (e) Status of Lenders; Tax Documentation.

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     (i) Each Lender and each L/C Issuer shall deliver to the Borrower and to the
Administrative Agent, at the time or times prescribed by applicable Laws or when reasonably
requested by the Borrower or the Administrative Agent, such properly completed and executed
documentation prescribed by applicable Laws or by the taxing authorities of any jurisdiction
and such other reasonably requested information as will permit the Borrower or the
Administrative Agent, as the case may be, to determine (A) whether or not payments made
hereunder or under any other Loan Document are subject to Taxes, (B) if applicable, the
required rate of withholding or deduction, and (C) such Lender’s or such L/C Issuer’s
entitlement to any available exemption from, or reduction of, applicable Taxes in respect of
all payments to be made to such Lender or such L/C Issuer by the Borrower pursuant to this
Agreement or otherwise to establish such Lender’s or such L/C Issuer’s status for
withholding tax purposes in the applicable jurisdiction.

     (ii) Without limiting the generality of the foregoing, if the Borrower is resident for
tax purposes in the United States:

     (A) Any Lender or any L/C Issuer that is a “United States person” within the
meaning of Section 7701(a)(30) of the Code shall deliver to the Borrower and the
Administrative Agent executed originals of Internal Revenue Service Form W-9 or such
other documentation or information prescribed by applicable Laws or reasonably
requested by the Borrower or the Administrative Agent as will enable the Borrower or
the Administrative Agent, as the case may be, to determine whether or not such
Lender or such L/C Issuer is subject to backup withholding or information reporting
requirements; and

     (B) Each Foreign Lender, and each L/C Issuer that is a Foreign Lender, that is
entitled under the Code or any applicable treaty to an exemption from or reduction
of withholding tax with respect to payments hereunder or under any other Loan
Document 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 or such L/C Issuer 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 or such L/C Issuer is legally entitled to do
so), whichever of the following is applicable:

     (I) executed originals 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) executed originals of Internal Revenue Service Form W-8ECI,

     (III) executed originals of Internal Revenue Service Form W-8IMY and
all required supporting documentation,

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     (IV) in the case of a Foreign Lender or L/C Issuer 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 or such L/C
Issuer 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) executed originals of
Internal Revenue Service Form W-8BEN, or

     (V) executed originals of any other form prescribed by applicable Laws
as a basis for claiming exemption from or a reduction in United States
Federal withholding tax together with such supplementary documentation as
may be prescribed by applicable Laws to permit the Borrower or the
Administrative Agent to determine the withholding or deduction required to
be made;

     (iii) Each Lender and each L/C Issuer shall promptly (A) notify the Borrower and the
Administrative Agent of any change in circumstances which would modify or render invalid any
claimed exemption or reduction, and (B) take such steps as shall not be materially
disadvantageous to it, in the reasonable judgment of such Lender, and as may be reasonably
necessary (including the re-designation of its Lending Office) to avoid any requirement of
applicable Laws of any jurisdiction that the Borrower or the Administrative Agent make any
withholding or deduction for Taxes from amounts payable to such Lender or such L/C Issuer.

     (f) Treatment of Certain Refunds. Unless required by applicable Laws, at no time
shall the Administrative Agent have any obligation to file for or otherwise pursue on behalf of a
Lender or an L/C Issuer, or have any obligation to pay to any Lender or any L/C Issuer, any refund
of Taxes withheld or deducted from the funds paid for the account of such Lender or such L/C
Issuer, as the case may be. 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 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
reasonable out-of-pocket expenses incurred by 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 any 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 or to file
for, or otherwise pursue on behalf of, the Borrower any refund of Taxes.

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     (g) Notwithstanding the foregoing provisions of this Section 3.01, (i) if any Lender
fails to notify the Borrower of any event or circumstance which will entitle such Lender to
compensation pursuant to this Section 3.01 within 60 days after such Lender obtains
knowledge of such event or circumstance, then such Lender shall not be entitled to compensation
from the Borrower for any amount arising prior to the date which is 60 days before the date on
which such Lender notifies the Borrower of such event or circumstance; and (ii) the Borrower shall
not be required to pay an additional amount to, or to indemnify, any Lender pursuant to this
Section 3.01 to the extent that (x) the obligation to withhold or pay such amount existed
on the Initial Date (as defined below) or (y) the obligation to withhold or pay such amount would
not have arisen but for the failure of such Lender to comply with the provisions of subsection
(e) above. For purposes of clause (ii) of the foregoing sentence “Initial Date” means
(A) in the case of any Lender that is a signatory hereto, the date of this Agreement, (B) in the
case of any Person which subsequently becomes a Lender hereunder, the date of the applicable
Assignment and Assumption, and (C) in the case of any Participant, the date on which it becomes a
Participant; provided, that the foregoing limitation shall not impair any availability of
the indemnity provision above to the Administrative Agent or any L/C Issuer.

     3.02 Illegality. If any Lender reasonably 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 Loans whose interest is determined by reference to the
Eurodollar Rate, 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, (i) any obligation of such
Lender to make or continue Eurodollar Rate Loans or to convert Base Rate Committed Loans to
Eurodollar Rate Committed Loans shall be suspended, and (ii) if such notice asserts the illegality
of such Lender making or maintaining Base Rate Loans the interest rate on which is determined by
reference to the Eurodollar Rate component of the Base Rate, the interest rate on which Base Rate
Loans of such Lender shall, if necessary to avoid such illegality, be determined by the
Administrative Agent without reference to the Eurodollar Rate component of the Base Rate, in each
case 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, (x) the Borrower
shall, upon demand from such Lender (with a copy to the Administrative Agent), at the Borrower’s
option, prepay or, if applicable, convert all Eurodollar Rate Loans of such Lender to Base Rate
Loans (or, if applicable, the interest rate on which Base Rate Loans of such Lender shall, if
necessary to avoid such illegality, be determined by the Administrative Agent without reference to
the Eurodollar Rate component of the Base Rate), 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 and
(y) if such notice asserts the illegality of such Lender determining or charging interest rates
based upon the Eurodollar Rate, the Administrative Agent shall during the period of such suspension
compute the Base Rate applicable to such Lender without reference to the Eurodollar Rate component
thereof until the Administrative Agent is advised in writing by such Lender that it is no longer
illegal for such Lender to determine or charge interest rates based upon the Eurodollar Rate.
Upon any such prepayment or conversion, the Borrower shall also pay accrued interest on the amount
so prepaid or converted.

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     3.03 Inability to Determine Rates. If for any reason in connection with any request for a
Eurodollar Rate Loan or a conversion to or continuation thereof, (a) the Required Lenders or the
Administrative Agent determines that (i) 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, or (ii) adequate and reasonable means do not exist for determining the Eurodollar Base
Rate for any requested Interest Period with respect to a proposed Eurodollar Rate Loan or in
connection with an existing or proposed Base Rate Loan, or (b) the Administrative Agent determines
that the Eurodollar Base 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, (x) the obligation of the Lenders to make or maintain Eurodollar Rate Loans shall be
suspended, and (y) in the event of a determination described in the preceding sentence with respect
to the Eurodollar Rate component of the Base Rate, the utilization of the Eurodollar Rate component
in determining the Base Rate shall be suspended, in each case until the Administrative Agent (upon
the instruction of the Required Lenders) revokes such notice. Upon receipt of such notice, 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 Committed 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
reflected in the Eurodollar Rate) 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 any 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 Loan the interest on which is determined by reference to the Eurodollar Rate (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, upon request of such Lender or such L/C Issuer, the Borrower

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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.

     (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 Commitment 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 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.

     (c) Certificates for Reimbursement. A certificate of a Lender or such 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, together with a brief explanation for the increased costs and the basis for the
calculation thereof, and delivered to the Borrower shall be conclusive absent manifest 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 such 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 an L/C Issuer pursuant to the
foregoing provisions of this Section for any increased costs incurred or reductions suffered more
than 60 days 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 60-day period
referred to above shall be extended to include the period of retroactive effect thereof).

     3.05 Compensation for Losses. Upon demand of any Lender (with a copy to the Administrative
Agent) from time to time, the Borrower shall promptly compensate such Lender (except, in the case
of Section 3.05(c), any Defaulting Lender) for and hold such Lender (except, in the case of
Section 3.05(c), any Defaulting 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);

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     (b) any failure by the Borrower (for a reason other than the failure of such Lender to make a
Loan) to prepay or borrow any Loan or continue or convert any Eurodollar 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 10.13;

including any loss or expense arising from the liquidation or reemployment of funds obtained by it
to maintain such Loan or from fees payable to terminate the deposits from which such funds were
obtained. The Borrower shall also pay any customary administrative fees charged by such Lender in
connection with the foregoing.

     For purposes of calculating amounts payable by the Borrower to the Lenders under this
Section 3.05, each Lender shall be deemed to have funded each Eurodollar Rate Loan made by
it at the Eurodollar Base Rate used in determining the Eurodollar Rate for such Loan by a matching
deposit or other borrowing in the London interbank eurodollar market for a comparable amount and
for a comparable period, whether or not such Eurodollar Rate Loan was in fact so funded.

     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,
any L/C Issuer, or any Governmental Authority for the account of any Lender or any L/C Issuer
pursuant to Section 3.01, or if any Lender gives a notice pursuant to Section 3.02,
then such Lender or L/C Issuer shall, as applicable, 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 or L/C Issuer, 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 or L/C Issuer, as the case may be, to any unreimbursed cost or
expense and would not otherwise be disadvantageous to such Lender or L/C Issuer, as the case may
be. The Borrower hereby agrees to pay all reasonable costs and expenses incurred by any Lender or
any L/C Issuer 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 pursuant to Section
3.01 to the Administrative Agent, any Lender or any Governmental Authority for the account of
any Lender, or if the Borrower receives a notice from a Lender pursuant to Section 3.02,
the Borrower may replace such Lender in accordance with Section 10.13.

     3.07 Survival. All obligations under this Article III shall survive termination of
the Aggregate Commitments, repayment of all other Obligations hereunder and resignation of the
Administrative Agent.

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ARTICLE IV.

CONDITIONS PRECEDENT TO CREDIT EXTENSIONS

     4.01 Conditions of Amendment and Restatement. The effectiveness of this Agreement as an
amendment and restatement of the Existing Credit Agreement is subject to satisfaction of the
following conditions precedent:

     (a) 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 Borrower, each dated the Effective Date (or, in the case of certificates
of governmental officials, a recent date before the Effective Date) and each in form and substance
satisfactory to the Administrative Agent and each of the Lenders:

     (i) executed counterparts of this Agreement, sufficient in number for distribution to
the Administrative Agent, each Lender and the Borrower;

     (ii) a Note executed by the Borrower in favor of each Lender requesting a Note;

     (iii) such certificates of resolutions or other action, incumbency certificates and/or
other certificates of Responsible Officers of the Borrower as 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 the Borrower is a party;

     (iv) such documents and certifications as the Administrative Agent may reasonably
require to evidence that the Borrower is duly organized or formed, and that the Borrower is
validly existing, in good standing and qualified to engage in business in each jurisdiction
where its ownership, lease or operation of properties or the conduct of its business
requires such qualification, except to the extent that failure to do so could not reasonably
be expected to have a Material Adverse Effect;

     (v) a certificate of a Responsible Officer of the Borrower (A) stating that the
representations and warranties contained in Article V are true and correct on and as
of such date, as though made on and as of such date; (B) stating there is no action, suit,
investigation or proceeding pending or threatened in writing in any court or before any
arbitrator or Governmental Authority that purports (i) to materially and adversely affect
the Borrower or its Subsidiaries, or (ii) to affect any transaction contemplated hereby or
the ability of the Borrower to perform its obligations under this Agreement; and (C) either
(i) attaching copies of all consents, licenses and approvals required in connection with the
execution, delivery and performance by the Borrower and the validity against the Borrower of
the Loan Documents to which it is a party, and such consents, licenses and approvals shall
be in full force and effect, or (ii) stating that no such consents, licenses or approvals
are so required;

     (vi) a certificate signed by a Responsible Officer of the Borrower certifying (A) that
there has been no event or circumstance since the date of the Audited Financial

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Statements that has had or could be reasonably expected to have, either individually or
in the aggregate, a Material Adverse Effect; and (B) the current Debt Ratings;

     (vii) evidence that the 2008 Credit Agreement has been or concurrently with the
Effective Date is being amended for the purpose of making certain terms of the 2008 Credit
Facility consistent with this Agreement (other than pricing and maturity), as reasonably
determined by the Administrative Agent; and

     (viii) such other assurances, certificates, documents, consents or opinions as the
Administrative Agent, the applicable L/C Issuers, the Swing Line Lender or the Required
Lenders reasonably may require.

     (b) a favorable opinion of Akerman Senterfitt & Eidson, P.A., counsel to the Borrower,
addressed to the Administrative Agent and each Lender in the form attached hereto as Exhibit
F.

     (c) Any fees required to be paid on or before the Effective Date shall have been paid.

     (d) Unless waived by the Administrative Agent, the Borrower shall have paid all reasonable
fees, charges and disbursements of counsel to the Administrative Agent to the extent invoiced prior
to or on the Effective 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).

     Without limiting the generality of the provisions of Section 9.04, for purposes of
determining compliance with the conditions specified in this Section 4.01, each Lender that
has signed this Agreement shall be deemed to have consented to, approved or accepted or to be
satisfied with, each document or other matter required hereunder to be consented to or approved by
or acceptable or satisfactory to a Lender unless the Administrative Agent shall have received
notice from such Lender prior to the proposed Effective Date specifying its objection thereto.

     4.02 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 (i) the Borrower contained in Article V and
(ii) each Loan Party contained in each other Loan Document, or which are contained in any document
furnished by any Loan Party at any time under or in connection herewith or therewith, shall be true
and correct in all material respects (except, if a qualifier relating to materiality, Material
Adverse Effect or a similar concept applies, such representation or warranty shall be required to
be true and correct in all 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 as of such earlier date, and except that for purposes of this
Section 4.02(a), the representations and warranties contained in Section 5.11(a)
shall be deemed to refer to the most recent statements furnished pursuant to Section 6.01.

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

     (c) The Administrative Agent and, if applicable, the applicable L/C Issuer or the Swing Line
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 Sections 4.02(a) and (b) have been satisfied on and as of the date of
the applicable Credit Extension.

ARTICLE V.

REPRESENTATIONS AND WARRANTIES

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

     5.01 Corporate Existence and Power. The Borrower and each of its Material Subsidiaries:

     (a) is duly organized, validly existing and in good standing under the laws of the
jurisdiction of its organization;

     (b) has the power and authority and all governmental licenses, authorizations, consents and
approvals (i) to own its assets and to carry on its business and (ii) to execute, deliver and
perform its obligations under the Loan Documents to which it is a party;

     (c) is duly qualified to do business in each jurisdiction where its ownership, lease or
operation of property or the conduct of its business requires such qualification; and

     (d) is in compliance with all Requirements of Law;

except, in each case referred to in subclause (b)(i), clause (c) or clause
(d), to the extent that the failure to do so could not reasonably be expected to have a
Material Adverse Effect.

     5.02 Corporate Authorization; No Contravention. The execution, delivery and performance by
each Loan Party of each Loan Document to which such Person is a party have been duly authorized by
all necessary corporate, company, partnership or other similar organizational action (as the case
may be), 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 the creation of any Lien
under, any document evidencing any material Contractual Obligation to which such Person or any of
its Subsidiaries is a party or any order, injunction, writ or decree of any Governmental Authority
to which such Person or any of its Subsidiaries or any of its or their property is subject; or

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     (c) violate any Requirement of Law.

     5.03 Governmental Authorization. No approval, consent, exemption, authorization or other
action by, or notice to, or filing with, any Governmental Authority (other than any of the
foregoing which has been obtained or made and is in full force and effect) 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.

     5.04 Binding Effect. This Agreement and each other Loan Document constitute the legal, valid
and binding obligations of each Loan Party, to the extent such Person is a party thereto,
enforceable against such Person in accordance with their respective terms, except as enforceability
may be limited by applicable bankruptcy, insolvency or similar laws affecting the enforcement of
creditors’ rights generally or by equitable principles relating to enforceability.

     5.05 Litigation. There are no actions, suits, proceedings, claims or disputes pending or, to
the best knowledge of the Borrower, threatened, at law, in equity, in arbitration or before any
Governmental Authority, against the Borrower or any Subsidiary or any of their respective
properties (a) which purport to affect or pertain to this Agreement or any other Loan Document or
(b) as to which there exists a reasonable likelihood of an adverse determination, which
determination would reasonably be expected to have a material adverse effect on the ability of the
Borrower to pay and perform the Obligations. No injunction, writ, temporary restraining order or
other order of any nature has been issued by any court or other Governmental Authority purporting
to enjoin or restrain the execution, delivery or performance of this Agreement or any other Loan
Document, or directing that the transactions provided for herein or therein not be consummated as
herein or therein provided.

     5.06 No Default. No Default exists or would result from the incurring of any Obligations by
any Loan Party. As of the Effective Date, neither the Borrower nor any Subsidiary is in default
under or with respect to any Contractual Obligation in any respect which, individually or together
with all such defaults, could reasonably be expected to have a Material Adverse Effect.

     5.07 ERISA Compliance. Except as specifically disclosed in Schedule 5.07:

     (a) Each Plan is in compliance in all material respects with the applicable provisions of
ERISA, the Code and other federal or state law (or, in the case of an Acquired Plan, can be brought
into such compliance without any material fine, penalty or other liability). Except for Acquired
Plans with respect to which the failure to have received a qualification letter would not result in
any material fine, penalty or other liability, each Plan which is intended to qualify under Section
401(a) of the Code has received a favorable determination letter from the IRS (or will be submitted
for a determination letter within the applicable remedial amendment period), and to the best
knowledge of the Borrower, nothing has occurred which would cause the loss of such qualification.
Except as could not reasonably be expected to result in liability to the Borrower or any ERISA
Affiliate in excess of $10,000,000, the Borrower and each ERISA Affiliate has made all required
contributions to any Plan or Multiemployer Plan subject to Section 412 of the Code (except for
contributions to Acquired Plans not made prior to the respective Plan Acquisition Dates and which
do not in the aggregate exceed $1,000,000 for any Acquired Plan) and have not

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submitted any application for a funding waiver or an extension of any amortization period
pursuant to Section 412 of the Code has been made with respect to any Plan or Multiemployer Plan.

     (b) There are no pending or, to the best knowledge of Borrower, threatened claims, actions or
lawsuits, or action by any Governmental Authority, with respect to any Plan which has resulted or
could reasonably be expected to result in a Material Adverse Effect. There has been no prohibited
transaction or violation of the fiduciary responsibility rules with respect to any Plan which has
resulted or could reasonably be expected to result in a Material Adverse Effect.

     (c) (i) No ERISA Event has occurred or is reasonably expected to occur which has resulted or
could reasonably be expected to result in liability under Title IV of ERISA to the Borrower or any
ERISA Affiliate in an aggregate amount in excess of $25,000,000; (ii) no contribution failure has
occurred with respect to a Pension Plan sufficient to give rise to a Lien under Section 303(k) of
ERISA securing liability in excess of $10,000,000; (iii) no Pension Plan has any Unfunded Pension
Liability, which has resulted or could reasonably be expected to result in a Material Adverse
Effect; (iv) neither the Borrower nor any ERISA Affiliate has incurred, or reasonably expects to
incur, any liability under Title IV of ERISA with respect to any Pension Plan, which has resulted
or could reasonably be expected to result in a Material Adverse Effect; (v) to the best knowledge
of the Borrower, neither the Borrower nor any ERISA Affiliate has incurred, or reasonably expects
to incur, any liability (and no event has occurred which, with the giving of notice under Section
4219 of ERISA, would result in such liability) under Section 4201 or 4243 of ERISA with respect to
a Multiemployer Plan in an aggregate amount in excess of $25,000,000; and (vi) neither the Borrower
nor any ERISA Affiliate has engaged in a transaction, which could reasonably be expect to result in
liability to the Borrower or such ERISA Affiliate in excess of $25,000,000 pursuant to Section 4069
or 4212(c) of ERISA.

     5.08 Use of Proceeds; Margin Regulations. The proceeds of the Loans will be used solely for
the purposes set forth in and permitted by Section 6.12 and Section 7.08. Neither
the Borrower nor any Subsidiary is generally engaged in the business of purchasing or selling
Margin Stock or extending credit for the purpose of purchasing or carrying Margin Stock.

     5.09 Title to Properties. The Borrower and each Subsidiary have good record and marketable
title in fee simple to, or valid leasehold interests in, all real property necessary or used in the
ordinary conduct of their respective businesses, except for such defects in title as could not,
individually or in the aggregate, have a Material Adverse Effect. As of the Effective Date, the
property of the Borrower and its Subsidiaries (other than any Allied Unrestricted Subsidiary or any
Republic Insurance Entity) is subject to no Liens, other than Permitted Liens.

     5.10 Taxes. The Borrower and its Material Subsidiaries have filed all Federal and other
material tax returns and reports required to be filed, and have paid all Federal and other material
taxes, assessments, fees and other governmental charges levied or imposed upon them or their
properties, income or assets otherwise due and payable, except those which are being contested in
good faith by appropriate proceedings and for which adequate reserves have been provided in
accordance with GAAP. There is no proposed tax assessment against the Borrower or any Subsidiary
that would, if made, have a Material Adverse Effect.

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     5.11 Financial Condition.

     (a) The Audited Financial Statements:

     (i) were prepared in accordance with GAAP consistently applied throughout the periods
covered thereby, except as otherwise expressly noted therein;

     (ii) fairly present the financial condition of the Borrower and its consolidated
Subsidiaries as of the dates thereof and the results of operations for the periods covered
thereby; and

     (iii) show all material indebtedness and other liabilities, absolute or contingent, of
the Borrower and its consolidated Subsidiaries as of the dates thereof, including
liabilities for taxes and material Contingent Obligations.

     (b) Since the date of the Audited Financial Statements, there has been no event or
circumstance, either individually or in the aggregate, that has had or could reasonably be expected
to have a Material Adverse Effect.

     5.12 Environmental Matters. The Borrower conducts in the ordinary course of business a review
of the effect of existing Environmental Laws and existing Environmental Claims on its business,
operations and properties, and as a result thereof the Borrower has reasonably concluded that,
except as specifically disclosed in Schedule 5.12, such Environmental Laws and
Environmental Claims could not, individually or in the aggregate, reasonably be expected to have a
Material Adverse Effect.

     5.13 Regulated Entities. None of the Borrower, any Person controlling the Borrower, or any
Subsidiary is an “Investment Company” within the meaning of the Investment Company Act of 1940.
The Borrower is not subject to any Federal or state statute or regulation limiting its ability to
incur Indebtedness.

     5.14 No Burdensome Restrictions. Neither the Borrower nor any Subsidiary is a party to or
bound by any Contractual Obligation, or subject to any restriction in any Organization Document or
any Requirement of Law, which could reasonably be expected to have a Material Adverse Effect.

     5.15 Copyrights, Patents, Trademarks and Licenses, Etc. The Borrower or its Subsidiaries own
or are licensed or otherwise have the right to use all of the material patents, trademarks, service
marks, trade names, copyrights, contractual franchises, authorizations and other rights that are
reasonably necessary for the operation of their respective businesses, without conflict with the
rights of any other Person, except to the extent failure to own, license or otherwise have the
right to use any such item, or any such conflict, could not reasonably be expected to have a
Material Adverse Effect. To the best knowledge of the Borrower, no slogan or other advertising
device, product, process, method, substance, part or other material now employed, or now
contemplated to be employed, by the Borrower or any Subsidiary, and which is material to the
business or operations of the Borrower and its Subsidiaries, infringes upon any rights held by any
other Person (excluding infringements which could not, individually or in the aggregate, reasonably
be expected to have a Material Adverse Effect).

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     5.16 Subsidiaries. The Material Subsidiaries as of the Effective Date are identified in
Schedule 5.16.

     5.17 Insurance. The properties (except to the extent such property, individually or in the
aggregate, is not material to the Borrower and its Subsidiaries) of the Borrower and its
Subsidiaries are insured with financially sound and reputable insurance companies (or are
self-insured) 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 such Subsidiary operates.

     5.18 Solvency. The Borrower and the Borrower and its Subsidiaries, taken as a whole, are
Solvent after giving effect to the transactions contemplated by the Loan Documents.

     5.19 Full Disclosure. The representations and warranties made by the Borrower and its
Subsidiaries in the Loan Documents as of the date such representations and warranties are made or
deemed made, and the statements contained in any exhibit, report, statement or certificate
furnished by or on behalf of any Loan Party or any Subsidiary in connection with the Loan
Documents, taken as a whole, do not contain any untrue statement of a material fact or omit any
material fact necessary to make the statements made therein, in light of the circumstances under
which they are made, not misleading in any material respect as of the time when made or delivered.

ARTICLE VI.

AFFIRMATIVE COVENANTS

     So long as any Lender shall have any Commitment hereunder, or any Loan or other Obligation
shall remain unpaid or unsatisfied, or any Letter of Credit shall remain outstanding, unless the
Required Lenders waive compliance in writing:

     6.01 Financial Statements. The Borrower shall deliver to the Administrative Agent, in form
and detail satisfactory to the Administrative Agent and the Required Lenders, with sufficient
copies for each Lender:

     (a) as soon as available, but not later than 120 days after the end of each fiscal year, a
copy of the audited consolidated balance sheet of the Borrower and its Subsidiaries as at the end
of such year and the related consolidated statements of income or operations, shareholders’ equity
and cash flows for such year (together with consolidating notes with respect to the Excluded
Subsidiaries and other applicable consolidating information), 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, such consolidated financial statements to be accompanied by a report of Ernst
& Young LLP or another nationally recognized Registered Public Accounting Firm (the
“Independent Auditor”), which report shall be prepared in accordance with standards of the
Public Company Accounting Oversight Board and shall not be subject to any “going concern” or like
qualification or exception or any qualification or exception as to the scope of such audit;
provided that the reports delivered pursuant to this Section shall not be qualified or limited
because of a restricted or limited examination by the Independent Auditor of any material portion
of the Borrower’s or any Subsidiary’s records; and

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     (b) as soon as available, but not later than 60 days after the end of each of the first three
fiscal quarters of each fiscal year (commencing with the fiscal quarter ending March 31, 2011), a
copy of the unaudited consolidated balance sheet of the Borrower and its Subsidiaries as of the end
of such quarter and the related consolidated statements of income, shareholders’ equity and cash
flows for the period commencing on the first day and ending on the last day of such quarter
(together with consolidating notes with respect to the Excluded Subsidiaries and other applicable
consolidating information), and certified by a Responsible Officer of the Borrower as fairly
presenting, in accordance with GAAP (subject to the absence of footnotes and to ordinary, good
faith year-end audit adjustments), the financial position and the results of operations of the
Borrower and its Subsidiaries as of such date and for such period.

     6.02 Certificates; Other Information. The Borrower shall furnish to the Administrative Agent,
with sufficient copies for each Lender:

     (a) concurrently with the delivery of the financial statements referred to in subsections
6.01(a) and (b), a Compliance Certificate executed by a Responsible Officer of the
Borrower;

     (b) promptly after their becoming available, copies of all financial statements and reports
that the Borrower sends to its shareholders, and copies of all financial statements and regular,
periodic or special reports (including Forms 10K, 10Q and 8K) that the Borrower or any Subsidiary
may make to, or file with, the SEC; and

     (c) promptly, such additional information regarding the business, financial or corporate
affairs of the Borrower or any Subsidiary as the Administrative Agent, at the request of any
Lender, may from time to time reasonably request.

     Documents required to be delivered pursuant to Section 6.01(a) or (b) or
Section 6.02(b) (to the extent any such documents are included in materials otherwise filed
with the SEC) may be delivered electronically and if so delivered, shall be deemed to have been
delivered on the earlier of (i) the date 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 10.02; and (ii) the date on which such documents are posted on the Borrower’s
behalf on IntraLinks/IntraAgency or another relevant website, if any, to which each Lender and the
Administrative Agent have access (whether a commercial, third-party website or whether sponsored by
the Administrative Agent); provided that: (i) the Borrower shall deliver paper copies of such
documents to the Administrative Agent or any Lender that requests the Borrower to deliver such
paper copies until a written request to cease delivering paper copies is given by the
Administrative Agent or such Lender and (ii) the Borrower shall notify (which may be by facsimile
or electronic mail) the Administrative Agent and each Lender of the posting of any such documents
and provide to the Administrative Agent by electronic mail electronic versions (i.e., soft copies)
of such documents. 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.

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     The Borrower hereby acknowledges that (a) the Administrative Agent and/or the Arrangers will
make available to the Lenders and the L/C Issuers materials and/or information provided by or on
behalf of the Borrower hereunder (collectively, “Borrower Materials”) by posting the
Borrower Materials on IntraLinks or another similar electronic system (the “Platform”) and
(b) certain of the Lenders (each, a “Public Lender”) may have personnel who do not wish to
receive material non-public information with respect to the Borrower or its Affiliates, or the
respective securities of any of the foregoing, and who may be engaged in investment and other
market-related activities with respect to such Persons’ securities. The Borrower hereby agrees
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
Borrower shall be deemed to have authorized the Administrative Agent, the Arrangers, the L/C
Issuers and the Lenders to treat such Borrower Materials as not containing any material non-public
information with respect to the Borrower or its securities for purposes of United States Federal
and state securities laws (provided, however, that to the extent such Borrower
Materials constitute Information, they shall be treated as set forth in Section 10.07); (y)
all Borrower Materials marked “PUBLIC” are permitted to be made available through a portion of the
Platform designated “Public Side Information”; 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 Side Information”.
Notwithstanding the foregoing, the Borrower shall be under no obligation to mark any Borrower
Materials “PUBLIC”.

     6.03 Notices. The Borrower shall promptly notify the Administrative Agent and each Lender:

     (a) of the occurrence of any Default known to the Borrower;

     (b) of any matter that has resulted or is reasonably expected to result in a Material Adverse
Effect, including:

     (i) breach or non-performance of, or any default under, a Contractual Obligation of the
Borrower or any Subsidiary;

     (ii) any dispute, litigation, investigation, proceeding or suspension between the
Borrower or any Subsidiary and any Governmental Authority; or

     (iii) the commencement of, or any material development in, any litigation or proceeding
affecting the Borrower or any Subsidiary, including pursuant to any applicable Environmental
Laws;

     (c) of the occurrence of any of the following events known to the Borrower which affect the
Borrower or any ERISA Affiliate, and deliver to the Administrative Agent and each Lender a copy of
any notice with respect to such event that is filed with a Governmental Authority and any notice
delivered by a Governmental Authority to the Borrower or any ERISA Affiliate with respect to such
event:

     (i) an ERISA Event;

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     (ii) a contribution failure with respect to a Pension Plan sufficient to give rise to a
Lien under Section 303(k) of ERISA;

     (iii) a material increase in the Unfunded Pension Liability of any Pension Plan;

     (iv) the adoption of, or the commencement of contributions to, any Pension Plan or
Multiemployer Plan by the Borrower or any ERISA Affiliate; or

     (v) the adoption of any amendment to a Pension Plan if such amendment results in a
material increase in contributions or an Unfunded Pension Liability; and

     (d) of any material change in accounting policies or financial reporting practices by the
Borrower and its consolidated Subsidiaries.

     In addition, the Borrower shall, promptly upon the issuance thereof, notify the Administrative
Agent of any announcement by Moody’s or S&P (i) of any change in any Debt Rating or (ii) that any
Debt Rating will be put on a “negative outlook” or “negative credit watch.”

Each notice under this Section shall be accompanied by a written statement by a Responsible Officer
of the Borrower setting forth details of the occurrence referred to therein, and stating what
action the Borrower or any affected Subsidiary proposes to take with respect thereto. Each notice
under Section 6.03(a) shall describe with particularity any and all clauses or provisions
of this Agreement or any other Loan Document that have been breached or violated.

     6.04 Preservation of Corporate Existence, Etc. The Borrower shall, and shall cause each
Subsidiary (other than any Allied Unrestricted Subsidiary, any Securitization Subsidiary or any
Republic Insurance Entity) to (provided that nothing in this Section 6.04 shall prevent the
voluntary liquidation, dissolution or winding up, not under any bankruptcy or insolvency law, of
any Subsidiary so long as no Event of Default exists and no Default will result therefrom):

     (a) preserve and maintain in full force and effect its existence and good standing under the
laws of its jurisdiction of organization (except in connection with transactions permitted by
Section 7.04);

     (b) preserve and maintain in full force and effect all governmental rights, privileges,
qualifications, permits, licenses and franchises necessary or desirable in the normal conduct of
its business (except in connection with transactions permitted by Section 7.04 and sales of
assets permitted by Section 7.03);

     (c) use reasonable efforts, in the ordinary course of business, to preserve its business
organization and goodwill (except in connection with transactions permitted by Section
7.04); and

     (d) preserve or renew all of its registered patents, trademarks, trade names and service
marks;

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except, in the case of clauses (b), (c) and (d) above, to the extent
the failure to do so could not reasonably be expected to have a Material Adverse Effect.

     6.05 Maintenance of Property. The Borrower shall, and shall cause each Subsidiary (other than
any Allied Unrestricted Subsidiary, any Securitization Subsidiary or any Republic Insurance Entity)
to, maintain and preserve all its property which is used or useful in its business in good working
order and condition, ordinary wear and tear excepted, except to the extent that failure to do so
would not reasonably be expected to have a Material Adverse Effect.

     6.06 Insurance. The Borrower shall, and shall cause each Subsidiary (other than any Allied
Unrestricted Subsidiary, any Securitization Subsidiary or any Republic Insurance Entity) to,
maintain, with financially sound and reputable independent insurers (or pursuant to a
self-insurance program), insurance with respect to its properties and business against loss or
damage of the kinds customarily insured against by Persons engaged in the same or similar business,
of such types and in such amounts as are customarily carried under similar circumstances by such
other Persons.

     6.07 Tax Obligations. The Borrower shall, and shall cause each Subsidiary (other than any
Allied Unrestricted Subsidiary, any Securitization Subsidiary or any Republic Insurance Entity) to,
pay and discharge, as the same shall become due and payable all material 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 Borrower or such Subsidiary.

     6.08 Compliance with Laws; Contractual Obligations. The Borrower shall, and shall cause each
Subsidiary (other than any Allied Unrestricted Subsidiary, any Securitization Subsidiary or any
Republic Insurance Entity) to, comply with (i) any Requirements of Law of any Governmental
Authority having jurisdiction over it or its business (including the Federal Fair Labor Standards
Act) and (ii) any Contractual Obligation (other than any Contractual Obligation pertaining to
Indebtedness) to which it is bound, in both cases the non-compliance with which could reasonably be
expected to have a Material Adverse Effect.

     6.09 Compliance with ERISA. The Borrower shall, and shall cause each of its ERISA Affiliates
to: (a) maintain each Plan in compliance in all material respects with the applicable provisions
of ERISA, the Code and other federal or state law; (b) cause each Plan which is qualified under
Section 401(a) of the Code to maintain such qualification; and (c) make all required contributions
to any Plan subject to Section 412 of the Code so as to avoid any Lien under Section 303(k) of
ERISA or other liability to the Borrower or any ERISA Affiliate in excess of $10,000,000, it being
understood that any non-compliance with clause (a), (b) or (c) with respect
to an Acquired Plan existing on the Plan Acquisition Date for such Acquired Plan shall not
constitute a violation of this Section 6.09 so long as (i) the Borrower is diligently
proceeding to remedy such non-compliance and (ii) such non-compliance will not result in any
material fine, penalty or other liability.

     6.10 Inspection of Property and Books and Records. The Borrower shall, and shall cause each
Subsidiary (other than any Allied Unrestricted Subsidiary, any Securitization Subsidiary or any
Republic Insurance Entity) to, maintain proper books of record and account, in

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which full, true and correct entries (sufficient to permit the preparation of consolidated
financial statements in conformity with GAAP) shall be made of all financial transactions and
matters involving the assets and business of the Borrower and such Subsidiary. The Borrower shall
permit, and shall cause each Subsidiary (other than any Allied Unrestricted Subsidiary, any
Securitization Subsidiary or any Republic Insurance Entity) to permit, the Administrative Agent,
any Lender or their respective representatives (in each case at such Person’s own expense unless an
Event of Default exists), upon reasonable notice at any reasonable time during normal business
hours and from time to time at the request of the Administrative Agent or the relevant Lender, to
visit and inspect the properties of the Borrower or any Subsidiary (and, if (i) any Default exists
and has been continuing for 15 days or (ii) any Event of Default exists, to make copies or
abstracts of their respective corporate, financial and operating records), and to examine the
properties and books and records of the Borrower and its Subsidiaries and to discuss the affairs,
finances and accounts of the Borrower or any Subsidiary with the appropriate officers, employees or
authorized agents of the Borrower or such Subsidiary.

     6.11 Environmental Laws. The Borrower shall, and shall cause each Subsidiary (other than any
Allied Unrestricted Subsidiary, any Securitization Subsidiary or any Republic Insurance Entity) to,
conduct its operations and keep and maintain its property in material compliance with all material
Environmental Laws. Without limiting the foregoing, the Borrower shall, and shall cause each
Subsidiary (other than any Allied Unrestricted Subsidiary, any Securitization Subsidiary or any
Republic Insurance Entity) to, (i) maintain all material operating permits for all landfills now
owned or hereafter acquired; and (ii) dispose of hazardous waste only at licensed disposal
facilities operating, to the best of the Borrower’s or the applicable Subsidiary’s knowledge after
reasonable inquiry, in material compliance with all material Environmental Laws.

     6.12 Use of Proceeds. The Borrower shall use the proceeds of the Loans (i) as an extension
and continuation of Indebtedness of the Borrower under, and to amend and restate, the Existing
Credit Agreement and (ii) for working capital, capital expenditures, letters of credit and other
general corporate purposes not in contravention of any Requirement of Law or of any Loan Document;
provided that the Borrower shall not use the proceeds of any Loan to acquire any Person if
the board of directors of the Person to be acquired has not approved such Acquisition.

     6.13 Additional Guarantors. The Borrower shall notify the Administrative Agent at the time
that any Person is designated as or becomes a Material Subsidiary, and promptly thereafter (and in
any event within thirty (30) days (or such longer period approved by the Administrative Agent in
its sole discretion)), cause such Person to (a) become a Guarantor by executing and delivering to
the Administrative Agent a counterpart of the Guaranty, a Guaranty Joinder Agreement or such other
document as the Administrative Agent shall deem appropriate for such purpose and (b) deliver to the
Administrative Agent documents of the types referred to in clauses (iii) and (iv)
of Section 4.01(a) and, if requested by the Administrative Agent, favorable opinions of
counsel to such Person (which shall cover, among other things, the legality, validity, binding
effect and enforceability of the documentation referred to in clause (a)), all in form,
content and scope reasonably satisfactory to the Administrative Agent; provided that, if
the Guaranty Release Requirements have been satisfied and such satisfaction has been certified to
the Administrative Agent by a Responsible Officer of the Borrower, this Section 6.13 shall
no longer apply to require any additional Subsidiaries to become Guarantors and the

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Administrative Agent shall promptly execute and deliver to the Borrower such documentation as
may be reasonably requested by the Borrower from time to time to release any then-existing
Guarantors (other than Continuing Guarantors) from their obligations under the Guaranty (other than
as to obligations that are expressly stated in the Guaranty to survive such termination).

     As used herein:

     “2008 Credit Facility Amendment” means an amendment or restatement of the 2008 Credit
Facility after the Effective Date that extends the maturity thereof.

     “2008 Replacement Facility” means any replacement or refinancing of the 2008 Credit
Facility after the Effective Date.

     “Continuing Guarantor” means, at any time on or after the date that the Guaranty
Release Requirements have been satisfied and such satisfaction has been so certified to the
Administrative Agent by a Responsible Officer of the Borrower, (x) any Guarantor that at such time
is either an issuer or guarantor of any Senior Notes Indebtedness or (y) any other Person requested
by the Borrower in writing, and approved by the Administrative Agent, to be a Continuing Guarantor.

     “Guaranty Release Requirements” means the occurrence of the events described in either
clause (i) or (ii) below:

     (i) if (A) at the time of (x) the effectiveness of any 2008 Credit Facility Amendment, all or
substantially all of the Guarantors (other than Allied, AWNA, Browning-Ferris or BBCO) are released
from their guarantees of the amended or restated 2008 Credit Facility (other than as to obligations
that are expressly stated in such guarantees to survive such termination) or (y) the effectiveness
of any 2008 Replacement Facility, all or substantially all of the Guarantors (other than Allied,
AWNA, Browning-Ferris or BBCO) are not required to guarantee the 2008 Replacement Facility, (B)
concurrently with such 2008 Credit Facility Amendment or 2008 Replacement Facility, as the case may
be, all or substantially all of the Guarantors (other than Allied, AWNA, Browning-Ferris or BBCO)
are released (including after giving effect to any automatic release or termination provisions of
the Senior Notes Indentures (or of any guarantees thereof) triggered upon the termination or
release of the Guaranty hereunder and under any guarantees of the 2008 Credit Facility) from any
guarantees to which they may be parties with respect to any Senior Notes Indebtedness (other than
as to contingent obligations with respect to indemnification and other customary obligations that
are expressly stated in such guarantees to survive such termination), and (C) the Borrower will be
in compliance with the covenant in Section 7.13 after giving effect to any releases
pursuant to this Section 6.13; or

     (ii) if, after the effectiveness of any 2008 Credit Facility Amendment or 2008 Replacement
Facility, as the case may be, (A) the Borrower obtains a Debt Rating from either Rating Agency of
BBB+ or Baa1 or higher from one Rating Agency (the “First Upgraded Rating”) and a Rating
from the other Rating Agency reflecting a Rating no more than one level lower than the First
Upgraded Rating; (B) all or substantially all of the Guarantors (other than Allied, AWNA,
Browning-Ferris or BBCO) are released from their guarantees of the amended or restated 2008 Credit
Facility or 2008 Replacement Facility, as applicable (other than as to

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obligations that are expressly stated to in such guarantees to survive such termination), (C)
concurrently with the release described in clause (ii)(B) above, all or substantially all
of the Guarantors (other than Allied, AWNA, Browning-Ferris or BBCO) are released (including after
giving effect to any automatic release or termination provisions of the Senior Notes Indentures (or
of any guarantees thereof) triggered upon the termination or release of the Guaranty hereunder and
under any guarantees of the 2008 Credit Facility or 2008 Replacement Facility, as the case may be)
from any guarantees to which they may be parties with respect to any Senior Notes Indebtedness
(other than as to contingent obligations with respect to indemnification and other customary
obligations that are expressly stated in such guarantees to survive such termination), and (D) the
Borrower will be in compliance with the covenant in Section 7.13 after giving effect to any
releases pursuant to this Section 6.13.

ARTICLE VII.

NEGATIVE COVENANTS

     So long as any Lender shall have any Commitment hereunder, or any Loan or other Obligation
shall remain unpaid or unsatisfied, or any Letter of Credit shall remain outstanding, unless the
Required Lenders waive compliance in writing:

     7.01 Financial Condition Covenants.

     (a) Consolidated Interest Coverage Ratio. The Borrower shall not permit the
Consolidated Interest Coverage Ratio as of the last day of any fiscal quarter to be less than 3.00
to 1.00.

     (b) Maximum Total Debt to EBITDA Ratio. The Borrower shall not permit the Total Debt
to EBITDA Ratio as of the end of any fiscal quarter to be greater than 3.50 to 1.00.

     7.02 Limitation on Liens. The Borrower shall not, and shall not suffer or permit any
Subsidiary (other than any Allied Unrestricted Subsidiary, any Securitization Subsidiary or any
Republic Insurance Entity) to, directly or indirectly, make, create, incur, assume or suffer to
exist any Lien upon or with respect to any part of its property, whether now owned or hereafter
acquired, other than the following (“Permitted Liens”):

     (a) any Lien set forth in Schedule 7.02, and any extension, renewal or replacement of
any such Lien so long as the principal amount secured thereby is not increased and the scope of the
property subject to such Lien is not extended;

     (b) Liens imposed by law for taxes, assessments or charges of any Governmental Authority for
claims not yet due or which are being contested in good faith by appropriate proceedings diligently
pursued and with respect to which adequate reserves or other appropriate provisions are being
maintained in accordance with GAAP;

     (c) statutory Liens of landlords and Liens of carriers, warehousemen, mechanics, materialmen
and other Liens imposed by law or created in the ordinary course of business and in existence less
than 120 days from the date of creation thereof for amounts not yet due or which

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are being contested in good faith by appropriate proceedings and with respect to which
adequate reserves or other appropriate provisions are being maintained in accordance with GAAP;

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

     (e) Liens on the property of the Borrower or any Subsidiary securing (i) the non-delinquent
performance of bids, trade contracts (other than for borrowed money), leases and statutory
obligations, (ii) surety bonds (excluding appeal bonds and other bonds posted in connection with
court proceedings or judgments) and (iii) other non-delinquent obligations of a like nature in each
case incurred in the ordinary course of business, provided all such Liens in the aggregate would
not (even if enforced) cause a Material Adverse Effect;

     (f) Liens consisting of judgment or judicial attachment liens and liens securing contingent
obligations on appeal bonds and other bonds posted in connection with court proceedings or
judgments, provided that (i) in the case of judgment and judicial attachment liens, the enforcement
of such Liens is effectively stayed and (ii) all such Liens in the aggregate at any time
outstanding for the Borrower and its Subsidiaries do not exceed $100,000,000;

     (g) easements, rights-of-way, restrictions and other similar encumbrances incurred in the
ordinary course of business which, individually or in the aggregate, do not materially detract from
the value of the property subject thereto or materially interfere with the ordinary conduct of the
businesses of the Borrower and its Subsidiaries;

     (h) (i) Liens securing obligations in respect of Capital Leases and purchase money financings
on assets subject to such leases or financings to the extent such Capital Leases and purchase money
financings are otherwise permitted by Section 7.06(b) and (ii) Liens securing obligations
in respect of landfill lease operating agreements on assets subject to such leases created in the
ordinary course of business;

     (i) Liens arising solely by virtue of any statutory or common law provision relating to
banker’s liens, rights of set-off or similar rights and remedies as to deposit accounts or other
funds maintained with a creditor depository institution; provided that (i) such deposit
account is not a dedicated cash collateral account and is not subject to restrictions against
access by the Borrower in excess of those set forth by regulations promulgated by the FRB, and (ii)
such deposit account is not intended by the Borrower or any Subsidiary to provide collateral to the
depository institution;

     (j) Liens on the rights of the Borrower or any Subsidiary in bonds issued in connection with
revenue bond financings in favor of any issuer of a letter of credit used to provide security for
the payment of such bonds; and

     (k) (i) prior to the date on which Section 7.13 applies, other Liens, in addition to
those permitted by clauses (a) through (j), securing Indebtedness and other
obligations in an aggregate amount not to exceed $150,000,000 at any time and (ii) at any time
thereafter, other Liens, in addition to those permitted by clauses (a) through (j),
securing Indebtedness and other obligations, so long as the aggregate outstanding amount of
Priority Indebtedness at any time

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does not exceed 15% of Consolidated Tangible Assets; provided, in the case of each of
clauses (i) and (ii), that the aggregate investment or claim held at any time by
all purchasers, assignees or other transferees of (or of interests in) receivables and other rights
to payment in all Securitization Transactions, subject to Liens permitted by this clause
(k), shall not at any time exceed $75,000,000 in aggregate outstanding amount.

     7.03 Disposition of Assets. The Borrower shall not, and shall not permit any Subsidiary
(other than any Allied Unrestricted Subsidiary or any Republic Insurance Entity) to, directly or
indirectly, sell, assign, lease, convey, transfer or otherwise dispose of (whether in one or a
series of transactions) any property (including accounts and notes receivable, with or without
recourse) or enter into any agreement to do any of the foregoing (including any sale-leaseback),
except:

     (a) dispositions of inventory, or used, worn-out or surplus equipment, all in the ordinary
course of business;

     (b) the sale, assignment or other transfer of accounts receivable, lease receivables or other
rights to payment or any interest in the foregoing pursuant to any Securitization Transaction,
together in each case with any collections or proceeds thereof, any collection or deposit accounts
related thereto, and any collateral, guaranties or property or claims in favor of the Borrower or
such Subsidiary supporting, securing or otherwise relating to such receivables or other rights to
payment;

     (c) Dispositions of property by any Subsidiary to the Borrower or to a Wholly-Owned
Subsidiary; provided that (i) if the transferor of such property is a Guarantor, the
transferee thereof must either be the Borrower or a Guarantor, and (ii) if the transferor of such
property is not an Excluded Subsidiary, the transferee must either be the Borrower or a Subsidiary
that is not an Excluded Subsidiary;

     (d) any Regulatory Divestiture required in connection with the Allied Acquisition;
provided that (i) no Event of Default shall exist at the time of or result from such
Regulatory Divestiture, (ii) such Regulatory Divestiture shall be made for fair market value, (iii)
at least 80% of the consideration for such Regulatory Divestiture shall be in the form of cash or
cash equivalents (excluding any portion of the consideration allocated to a portion of a Regulatory
Divestiture permitted by clause (e) of this Section 7.03; it being agreed that the
Borrower may rely on either this clause (d) or clause (e) below in making any
Regulatory Divestiture or, in part, on both of such clauses), and (iv) promptly upon receipt
thereof by the Person making such Regulatory Divestiture, the Borrower shall prepay Committed Loans
and revolving loans under the 2008 Credit Facility on a pro rata basis in an amount equal to the
net cash proceeds from such Regulatory Divestiture; and

     (e) other dispositions which are made for fair market value; provided that (i) at the
time of any such disposition, no Event of Default shall exist or shall result from such disposition
and (ii) the aggregate value of all assets so disposed of by the Borrower and its Subsidiaries in
any one-year period (calculated as of the date of any such disposition) shall not exceed 20% of
Consolidated Tangible Assets as of the last day of the most recently ended fiscal quarter.

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     7.04 Consolidations and Mergers. The Borrower shall not, and shall not permit any Subsidiary
(other than any Allied Unrestricted Subsidiary, any Securitization Subsidiary or any Republic
Insurance Entity) to, merge, consolidate with, or convey, transfer, lease or otherwise 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 other Person, except:

     (a) any Subsidiary may merge with the Borrower or with any one or more Subsidiaries;
provided that (i) if any transaction shall be between the Borrower and a Subsidiary, the
Borrower shall be the continuing or surviving Person, (ii) if any transaction shall be between a
Subsidiary and a Wholly-Owned Subsidiary, a Wholly-Owned Subsidiary shall be the continuing or
surviving Person; and (iii) if any transaction shall be between an Excluded Subsidiary and a
Subsidiary that is not an Excluded Subsidiary, a Subsidiary that is not an Excluded Subsidiary
shall be the continuing or surviving Person;

     (b) any Subsidiary (other than an Excluded Subsidiary) may sell or transfer all or
substantially all of its assets (upon voluntary liquidation or otherwise) to the Borrower or a
Wholly-Owned Subsidiary, and any Excluded Subsidiary may transfer all or substantially all of its
assets to the Borrower or a Subsidiary that is not an Excluded Subsidiary for nominal consideration
or as a result of the voluntary dissolution or liquidation of such Excluded Subsidiary; and

     (c) any merger, consolidation or disposition in connection with a transaction permitted by
Section 7.03 or an Acquisition permitted by Section 7.05.

     7.05 Loans and Investments.

     (a) The Borrower shall not, and shall not permit any Subsidiary (other than any Allied
Unrestricted Subsidiary, any Securitization Subsidiary or any Republic Insurance Entity) to,
purchase or acquire any capital stock, Equity Interest or obligations or other securities of, or
any interest in, any Person, or make any Acquisition, or make any advance, loan, extension of
credit or capital contribution to or any other investment in any Person (including any Affiliate of
the Borrower) (any of the foregoing an “Investment”), unless (x) such loan, advance, investment,
acquisition or other purchase does not cause the Borrower to violate the financial covenants
contained in Section 7.01(a) or (b), and (y) no Default would result therefrom.

     (b) Notwithstanding the foregoing, the Borrower shall not, and shall not permit any Subsidiary
(other than any Allied Unrestricted Subsidiary, any Securitization Subsidiary or any Republic
Insurance Entity) to make any Investment in any Allied Unrestricted Subsidiary, any Securitization
Subsidiary or any Republic Insurance Entity other than the following:

     (i) transfers of receivables and other rights to payment in connection with a
Securitization Transaction, together in each case with any collections or proceeds thereof,
any collection or deposit accounts related thereto, and any collateral, guaranties or
property or claims in favor of the Borrower or such Subsidiary supporting, securing payment
or otherwise relating to such receivables or other rights to payment, so long as the maximum
outstanding principal amount of the Securitization Transactions does not exceed $75,000,000;

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     (ii) Investments by the Borrower and its Subsidiaries in the RMI Subsidiaries described
on Schedule 7.05(b); and

     (iii) other Investments in any Republic Insurance Entity consisting of (x) cash
contributed (whether in the form of debt or equity) to such Republic Insurance Entity and
unreimbursed drawings on letters of credit issued at the request of the Borrower or any
Subsidiary on behalf of such Republic Insurance Entity so long as the aggregate amount of
all such Investments (net of any amounts repaid, returned or reimbursed), when combined with
all Investments existing as of the Effective Date in any Republic Insurance Entities that
consist of cash contributions or unreimbursed drawings under letters of credit, shall not
exceed $100,000,000 in the aggregate at any time outstanding, and (y) letters of credit
issued at the request of the Borrower or any Subsidiary on behalf of such Republic Insurance
Entity so long as the aggregate principal amount of all such letters of credit, when
combined with all Investments existing on the Effective Date that consist of letters of
credit issued on behalf of all Republic Insurance Entities, shall not exceed $175,000,000 in
the aggregate at any time outstanding.

     7.06 Limitation on Secured Indebtedness. The Borrower shall not, and shall not permit any
Subsidiary to, create, incur, assume or suffer to exist any Indebtedness secured directly or
indirectly by assets of the Borrower or any Subsidiary other than the following:

     (a) secured Indebtedness listed on Schedule 7.06 (including any extensions, renewals
and refinancings thereof so long as the principal amount thereof is not increased);

     (b) Capital Leases and purchase money financings on assets subject to such leases or
financings in an aggregate amount not to exceed $100,000,000 at any time outstanding;
provided that, this clause (b) shall not restrict Indebtedness under any landfill
lease operating agreements entered into in the ordinary course of business, whether or not such
landfill lease operating agreements are classified as Capital Leases;

     (c) Indebtedness supported by letters of credit;

     (d) other Indebtedness secured by Liens permitted by Section 7.02(k); and

     (e) in the case of any Allied Unrestricted Subsidiary, any Securitization Subsidiary or any
Republic Insurance Entity, Indebtedness secured directly or indirectly by the assets of such Person
or its Subsidiaries.

     7.07 Transactions with Affiliates. The Borrower shall not, and shall not permit any
Subsidiary (other than any Allied Unrestricted Subsidiary, any Securitization Subsidiary or any
Republic Insurance Entity) to, enter into any transaction with any Affiliate of the Borrower (other
than a Loan Party), except upon fair and reasonable terms no less favorable to the Borrower or such
Subsidiary than would obtain in a comparable arm’s-length transaction with a Person not an
Affiliate of the Borrower or such Subsidiary.

     7.08 Use of Proceeds. The Borrower shall not, and shall not permit any Subsidiary to, use any
portion of the Loan proceeds or any Letter of Credit, directly or indirectly, (i) to purchase or
carry Margin Stock, (ii) to repay or otherwise refinance indebtedness of the

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Borrower or others incurred to purchase or carry Margin Stock or (iii) to extend credit for
the purpose of purchasing or carrying any Margin Stock.

     7.09 Restricted Payments. The Borrower shall not, and shall not permit any Subsidiary (other
than any Allied Unrestricted Subsidiary, any Securitization Subsidiary or any Republic Insurance
Entity), to make any Restricted Payment except that:

     (a) each Subsidiary may make Restricted Payments to the Borrower, the Guarantors and any other
Person that owns an Equity Interest in such Subsidiary, ratably according to their respective
holdings of the type of Equity Interest in respect of which such Restricted Payment is being made;

     (b) the Borrower and each Subsidiary may declare and make dividend payments or other
distributions payable solely in the common stock or other common Equity Interests of such Person;

     (c) the Borrower and each Subsidiary may purchase, redeem or otherwise acquire Equity
Interests issued by it with the proceeds received from the substantially concurrent issue of new
shares of its common stock or other common Equity Interests; and

     (d) the Borrower may make any other Restricted Payment so long as (i) such Restricted Payment
would not cause the Borrower to violate any financial covenant contained in Section 7.01(a)
or (b) and (ii) no other Default would result therefrom.

     7.10 ERISA. The Borrower shall not, and shall not permit any of its ERISA Affiliates to: (a)
engage in a prohibited transaction or violation of the fiduciary responsibility rules with respect
to any Plan which has resulted or could reasonably be expected to result in liability of the
Borrower in an aggregate amount in excess of $25,000,000; or (b) engage in a transaction which
could reasonably be expected to result in liability to the Borrower or any ERISA Affiliate in
excess of $25,000,000 pursuant to Section 4069 or 4212(c) of ERISA.

     7.11 Change in Business. The Borrower shall not, and shall not permit any Subsidiary to,
engage in any material line of business other than those lines of business carried on by the
Borrower and its Subsidiaries on the Effective Date and lines of business complementary thereto;
provided that (i) in no event will the Borrower permit a material portion of the business
of the Borrower and its Subsidiaries, taken as a whole, to involve or relate to hazardous waste,
(ii) in no event will the Borrower direct any Securitization Subsidiary to engage in any business
other than Securitization Transactions permitted hereunder, and (iii) in no event will the Borrower
direct any Excluded Subsidiary to engage in any business other than the business carried on by such
Subsidiary on the later of the Effective Date and the date that such Subsidiary is approved by the
Administrative Agent as an Excluded Subsidiary.

     7.12 Burdensome Agreements. The Borrower shall not, and shall not permit any Subsidiary
(other than any Excluded Subsidiary) to, enter into any Contractual Obligation (other than this
Agreement, any other Loan Document and any Contractual Obligations with respect to the 2008 Credit
Facility) that (a) limits the ability (i) of any Subsidiary (other than an Excluded Subsidiary) to
make Restricted Payments to the Borrower or to otherwise transfer property to the Borrower, (ii) of
any Subsidiary (other then an Excluded Subsidiary) to guarantee the

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Indebtedness of the Borrower or (iii) of the Borrower or any Subsidiary (other than an
Excluded Subsidiary) to create, incur, assume or suffer to exist Liens on property of such Person;
or (b) requires the grant of a Lien to secure an obligation of such Person if a Lien is granted to
secure another obligation of such Person; except, in each case, (1) as required under applicable
Requirements of Law, (2) as required under the Loan Documents, (3) for Permitted Liens, (4) for
restrictions in any Senior Note Indenture that is substantively similar to, or less restrictive
than, the Senior Note Indentures that are in effect on the Effective Date, (5) for prohibitions on
assignment or transfer contained in leases and (6) as set forth in Schedule 7.12.

     7.13 Priority Indebtedness. From and after the date that the Guaranty Release Requirements
have been satisfied and such satisfaction has been certified to the Administrative Agent by a
Responsible Officer of the Borrower, the Borrower shall not at any time permit the aggregate
outstanding amount of Priority Indebtedness to exceed 15% of Consolidated Tangible Assets.

ARTICLE VIII.

EVENTS OF DEFAULT AND REMEDIES

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

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

     (b) Representation or Warranty. Any representation or warranty by the Borrower or any
Subsidiary made or deemed made herein or in any other Loan Document, or which is contained in any
certificate, document or financial or other statement by the Borrower, any Subsidiary or any
Responsible Officer furnished at any time under this Agreement or under any other Loan Document, is
incorrect in any material respect on or as of the date made or deemed made.

     (c) Specific Defaults. The Borrower fails to perform or observe any term, covenant or
agreement contained in any of subsection 6.03(a) or Article VII.

     (d) Other Defaults. Any Loan Party fails to perform or observe any other term or
covenant contained in this Agreement or any other Loan Document, and such failure shall continue
unremedied for a period of 30 days after the date upon which written notice thereof is given to the
Borrower by the Administrative Agent or any Lender.

     (e) Cross-Default. (i) The Borrower or any Subsidiary (A) fails to make any payment
of Material Financial Obligations when due (whether by scheduled maturity, required prepayment,
acceleration, demand, or otherwise, but after giving effect to any applicable grace or cure
period); or (B) fails to perform or observe any other condition or covenant, or any other event
shall occur or condition shall exist, under one or more agreements or instruments relating to
Material Financial Obligations, if the effect of such failure, event or condition (after giving
effect to any applicable grace or cure period) is to cause (or require), or to permit the holder or

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holders of such Material Financial Obligations or the beneficiary or beneficiaries of such
Material Financial Obligations (or a trustee or agent on behalf of such holder or holders or
beneficiary or beneficiaries) to cause (or require), such Material Financial Obligations to become
due and payable in an amount greater than or equal to $100,000,000 in any single instance (or to be
purchased, repurchased or cash collateralized in an amount greater than or equal to $100,000,000 in
any single instance) prior to the stated maturity thereof.

     (f) Insolvency, Voluntary Proceedings. The Borrower or any Subsidiary (i) ceases or
fails to be Solvent, or generally fails to pay, or admits in writing its inability to pay, its
debts as they become due, subject to applicable grace periods, if any, whether at stated maturity
or otherwise; (ii) voluntarily ceases to conduct its business in the ordinary course; (iii)
commences any Insolvency Proceeding with respect to itself; or (iv) takes any action to effectuate
or authorize any of the foregoing; provided that the foregoing shall not apply to the
voluntary liquidation, dissolution or winding up of a Subsidiary permitted by Section 6.04.

     (g) Involuntary Proceedings. (i) Any involuntary Insolvency Proceeding is commenced
or filed against the Borrower or any Subsidiary, or any writ, judgment, warrant of attachment,
execution or similar process is issued or levied against a substantial part of the Borrower’s or
any Subsidiary’s properties, and such proceeding or petition shall not be dismissed, or such writ,
judgment, warrant of attachment, execution or similar process shall not be released, vacated or
fully bonded, within 60 days after commencement, filing or levy; (ii) the Borrower or any
Subsidiary admits the material allegations of a petition against it in any Insolvency Proceeding,
or an order for relief (or similar order under non-U.S. law) is ordered in any Insolvency
Proceeding with respect to the Borrower or such Subsidiary; or (iii) the Borrower or any Subsidiary
acquiesces in the appointment of a receiver, trustee, custodian, conservator, liquidator, mortgagee
in possession (or agent therefor), or other similar Person for itself or a substantial portion of
its property or business.

     (h) ERISA. (i) An ERISA Event shall occur with respect to a Pension Plan or
Multiemployer Plan which has resulted or could reasonably be expected to result in liability of the
Borrower under Title IV of ERISA to the Pension Plan, Multiemployer Plan or the PBGC in an
aggregate amount in excess of $25,000,000; (ii) a contribution failure shall occur with respect to
a Pension Plan sufficient to give rise to a Lien under Section 303(k) of ERISA securing obligations
in excess of $10,000,000; or (iii) the Borrower or any ERISA Affiliate shall fail to pay when due,
after the expiration of any applicable grace period (or any period during which (x) the Borrower is
permitted to contest its obligation to make such payment without incurring any liability (other
than interest) or penalty and (y) the Borrower is contesting such obligation in good faith and by
appropriate proceedings), any installment payment with respect to its withdrawal liability under
Section 4201 of ERISA or any contribution obligation under Section 4243 of ERISA, in each case
under a Multiemployer Plan in an aggregate amount in excess of $25,000,000.

     (i) Judgments. One or more non-interlocutory judgments, non-interlocutory orders,
decrees or arbitration awards is entered against the Borrower or any Subsidiary involving in the
aggregate a liability (to the extent not covered by insurance as to which the insurer does not
dispute coverage) as to any single or related series of transactions, incidents or conditions of

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$100,000,000 or more, and the same shall remain unvacated and unstayed pending appeal for a
period of 25 days after the entry thereof.

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

     (k) Invalidity of Loan Documents. Any 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 the Borrower or any of its
Subsidiaries contests in any manner the validity or enforceability of any Loan Document; or the
Borrower or any of its Subsidiaries denies that it has any or further liability or obligation under
any Loan Document, or purports to revoke, terminate or rescind any Loan Document.

     8.02 Remedies. If any Event of Default occurs, the Administrative Agent shall, at the request
of, or may, with the consent of, the Required Lenders:

     (a) declare the commitment of each Lender to make Loans (including the commitment of the Swing
Line Lender to make Swing Line Loans) and any obligation of each L/C Issuer 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 other Guaranteed Parties all other rights and
remedies available to it and the other Guaranteed Parties under the Loan Documents or applicable
law;

provided, however, that upon the occurrence of any event specified in
subsection (f) or (g) of Section 8.01 (in the case of clause (i) of
subsection (g), upon the expiration of the 60-day period mentioned therein), the obligation
of each Lender to make Loans and any obligation of each L/C Issuer 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, any
L/C Issuer or any other Lender. The Administrative Agent shall promptly notify the Borrower of any
declaration described in clause (a) or (b) of the preceding sentence, but failure
to give any such notice shall not impair any such declaration or result in any liability to the
Administrative Agent.

     8.03 Rights Not Exclusive. The rights provided for in this Agreement and the other Loan
Documents are cumulative and are not exclusive of any other rights, powers, privileges or

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remedies provided by law or in equity, or under any other instrument, document or agreement
now existing or hereafter arising.

     8.04 Application of Receipts. After the exercise of remedies provided for in Section
8.02 (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 8.02), any amounts received on account of the Obligations shall, subject to the
provisions of Sections 2.15 and 2.16, 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 reasonable fees, charges and disbursements of counsel to the
Administrative Agent and amounts payable under Article III) payable to the Administrative
Agent in its capacity as such;

     Second, to payment of that portion of the Obligations constituting fees, indemnities
and other amounts (other than principal, interest and Letter of Credit Fees) payable to the Lenders
and the L/C Issuers (including reasonable fees, charges and disbursements of counsel to the
respective Lenders and 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 arising under
the Loan Documents, 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 and L/C Borrowings and Obligations then owing under Guaranteed Cash Management Agreements
and Guaranteed Hedge Agreements, ratably among the Guaranteed Parties in proportion to the
respective amounts described in this clause Fourth held by them;

     Fifth, to the Administrative Agent for the account of the L/C Issuers, to Cash
Collateralize that portion of L/C Obligations comprised of the aggregate undrawn amount of Letters
of Credit to the extent not otherwise Cash Collateralized by the Borrower pursuant to Sections
2.05(c) and 2.15; and

     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 Sections 2.05(c) and 2.15, amounts used to Cash Collateralize the
aggregate undrawn amount of Letters of Credit pursuant to clause Fifth 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.

     Notwithstanding the foregoing, Obligations arising under Guaranteed Cash Management Agreements
and Guaranteed Hedge Agreements shall be excluded from the application described above if the
Administrative Agent has not received written notice thereof, together with such

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supporting documentation as the Administrative Agent may request, from the applicable Cash
Management Bank or Hedge Bank, as the case may be. Each Cash Management Bank or Hedge Bank not a
party to this Agreement that has given the notice contemplated by the preceding sentence shall, by
such notice, be deemed to have acknowledged and accepted the appointment of the Administrative
Agent pursuant to the terms of Article IX for itself and its Affiliates as if a “Lender”
party hereto.

ARTICLE IX.

ADMINISTRATIVE AGENT

     9.01 Appointment and Authority. 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. The
provisions of this Article, except Section 9.06 hereof, are solely for the benefit of the
Administrative 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, except Section
9.06 hereof.

     9.02 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.

     9.03 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

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     (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 believe in good faith shall be
necessary, under the circumstances as provided in Sections 10.01 and 8.02) 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 IV or elsewhere herein, other than to
confirm receipt of items expressly required to be delivered to the Administrative Agent.

     9.04 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
such L/C Issuer unless the Administrative Agent shall have received notice to the contrary from
such Lender or such 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.

     9.05 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

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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.

     9.06 Resignation of Administrative Agent. The Administrative Agent may at any time resign as
Administrative Agent upon 30 days’ prior notice 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 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 and which successor administrative agent shall be
consented to by the Borrower at all times other than during the existence of an Event of Default
(which consent shall not be unreasonably withheld or delayed). If no such successor shall have
been so appointed by the Required Lenders and shall have accepted such appointment prior to the
effective date of resignation, then the retiring Administrative Agent may on behalf of the Lenders
and the L/C Issuers, and in consultation with the Borrower, 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, 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 and as Swing Line Lender. 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 and
Swing Line Lender, (b) the retiring L/C Issuer and Swing Line Lender 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.

     9.07 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

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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.

     9.08 No Other Duties, Etc. Anything herein to the contrary notwithstanding, none of the
co-syndication agents, documentation agents, joint lead arrangers or joint book managers 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.

     9.09 Administrative Agent May File Proofs of Claim. In case of the pendency of any proceeding
under any Debtor Relief Law or any other judicial proceeding relative to the Borrower, 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 Sections 2.03(h) and (i),
2.09 and 10.04) 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 Issuers, to pay to the
Administrative Agent any amount due for the reasonable compensation, expenses, disbursements and
advances of the Administrative Agent and its agents and counsel, and any other amounts due the
Administrative Agent under Sections 2.09 and 10.04.

     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 any
L/C Issuer or to authorize the Administrative Agent to vote in respect of the claim of any Lender
or any L/C Issuer in any such proceeding.

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     9.10 Guaranty Matters. The Lenders and the L/C Issuers irrevocably authorize the
Administrative Agent to release any Guarantor from its obligations under the Guaranty if such
Person ceases to be a Subsidiary as a result of a transaction permitted hereunder or if such Person
is no longer required to be a “Guarantor” as described in Section 9.12. Upon request by
the Administrative Agent at any time, the Required Lenders will confirm in writing the
Administrative Agent’s authority to release any Guarantor from its obligations under the Guaranty
pursuant to this Section 9.10.

     9.11 Guaranteed Cash Management Agreements and Guaranteed Hedge Agreements. No Cash
Management Bank or Hedge Bank who obtains the benefit of the provisions of Section 8.04, or
the Guaranty by virtue of the provisions hereof or of the Guaranty shall have any right to notice
of any action or to consent to, direct or object to any action hereunder or under any other Loan
Document or otherwise other than in its capacity as a Lender and, in such case, only to the extent
expressly provided in the Loan Documents. Without limitation of the foregoing, each such Cash
Management Bank or Hedge Bank acknowledges that (i) the exercise of rights and remedies under the
Guaranty shall be taken solely by the Administrative Agent for the benefit of the Guaranteed
Parties; and (ii) such Cash Management Bank or Hedge Bank, as the case may be, does not have the
right to independently pursue rights or remedies under the Guaranty. Notwithstanding any other
provision of this Article IX to the contrary, the Administrative Agent shall be required to
verify the payment of, or that other satisfactory arrangements have been made with respect to,
Obligations arising under Guaranteed Cash Management Agreements and Guaranteed Hedge Agreements
only if the Administrative Agent has received written notice of such Obligations, together with
such supporting documentation as the Administrative Agent may request, from the applicable Cash
Management Bank or Hedge Bank, as the case may be.

     9.12 Release of Guarantors.

     (a) Upon (i) the disposition of any Guarantor in a transaction permitted hereunder that causes
such Guarantor to cease to be a Subsidiary or at the request of the Borrower in the event an
existing Guarantor ceases to be a Material Subsidiary (as certified to the Administrative Agent by
the Borrower and demonstrated in reasonable detail using financial information from the most
recently ended fiscal period for which financial statements are available), the Administrative
Agent shall execute such documentation reasonably requested by the Borrower to evidence the release
of such Guarantor from its obligations under the Guaranty (including any related Guaranty Joinder
Agreement), (ii) repayment in full of all Obligations (other than (x) Obligations under any Cash
Management Agreement and (y) Obligations under any Guaranteed Hedge Agreement as to which
arrangements satisfactory to the applicable Hedge Bank have been made) and termination by the
Borrower of the Commitments hereunder in accordance with Section 2.06, or (iii) the
satisfaction of the Guaranty Release Requirements, the Administrative Agent shall execute such
documentation reasonably requested by the Borrower to evidence the release of each Subsidiary that
is a Guarantor from its obligations under the Guaranty (including any related Guaranty Joinder
Agreement), except to the extent such obligations by their terms expressly survive termination of
the Guaranty or release of the Guarantor thereunder.

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ARTICLE X.

MISCELLANEOUS

     10.01 Amendments, Etc. 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 unless in writing signed by the Required Lenders (or by the Administrative Agent
at the written request of the Required Lenders) and the Borrower or other applicable Loan Party, as
the case may be, and acknowledged by the Administrative Agent, and each such waiver or consent
shall be effective only in the specific instance and for the specific purpose for which given;
provided, however, that no such amendment, waiver or consent shall:

     (a) waive any condition set forth in Section 4.01(a) without the written consent of
each Lender;

     (b) extend or increase the Commitment of any Lender (or reinstate any Commitment terminated
pursuant to Section 8.02) without the written consent of such Lender;

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

     (d) reduce the principal of, or the rate of interest specified herein on, any Loan or L/C
Borrowing, or (subject to clause (iv) of the second proviso to this Section 10.01)
any fees or other amounts payable hereunder or under any other Loan Document without the written
consent of each Lender directly affected thereby; 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;

     (e) change Section 8.04 in a manner that would alter the pro rata sharing of payments
required thereby or change Section 2.06 in a manner that would alter the pro rata treatment
of reductions of the Aggregate Commitments, in each case without the written consent of each
Lender;

     (f) change any provision of this Section or the definition of “Required Lenders” or any 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,
without the written consent of each Lender; or

     (g) except as provided in Section 6.13 and Section 9.12, release all or
substantially all of the Guarantors without the written consent of each Lender;

and, provided further, that (i) no amendment, waiver or consent shall, unless in
writing and signed by the applicable L/C Issuer in addition to the Lenders required above, affect
the rights or duties of the applicable L/C Issuer under this Agreement or any Issuer Document
relating to any Letter of Credit issued or to be issued by it or extend the Letter of Credit
Expiration Date applicable to the Letters of Credit issued by such L/C Issuer; (ii) no amendment,
waiver or consent shall, unless in writing and signed by the Swing Line Lender in addition to the
Lenders

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required above, affect the rights or duties of the Swing Line Lender under this Agreement; (iii) 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; and (iv) either Fee Letter may be amended, or
rights or privileges thereunder waived, in a writing executed only by the parties thereto.
Notwithstanding anything to the contrary herein, no Defaulting Lender shall have any right to
approve or disapprove any amendment, waiver or consent hereunder (and any amendment, waiver or
consent which by its terms requires the consent of all Lenders or each affected Lender may be
effected with the consent of the applicable Lenders other than Defaulting Lenders), except that (x)
the Commitment of any Defaulting Lender may not be increased or extended without the consent of
such Lender and (y) any waiver, amendment or modification requiring the consent of all Lenders or
each affected Lender that by its terms affects any Defaulting Lender more adversely than other
affected Lenders shall require the consent of such Defaulting Lender.

     10.02 Notices; Effectiveness; Electronic Communication.

     (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, Bank of America as the L/C Issuer or
the Swing Line Lender, to the address, telecopier number, electronic mail address or
telephone number specified for such Person on Schedule 10.02; 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
(including, as appropriate, notices delivered solely to the Person designated by a Lender on
its Administrative Questionnaire then in effect for the delivery of notices that may contain
material non-public information relating to the Borrower).

     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 if confirmation of delivery has been received (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 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

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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, any 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, any 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 L/C
Issuers and the Swing Line Lender 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 L/C Issuers and the Swing Line
Lender. In addition, each Lender agrees to 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.

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Furthermore, each Public Lender agrees to cause at least one individual at or on behalf of
such Public Lender to at all times have selected the “Private Side Information” or similar
designation on the content declaration screen of the Platform in order to enable such Public Lender
or its delegate, in accordance with such Public Lender’s compliance procedures and applicable Law,
including United States Federal and state securities laws, to make reference to Borrower Materials
that are not made available through the “Public Side Information” portion of the Platform and that
may contain material non-public information with respect to the Borrower or its Affiliates, or the
respective securities of any of the foregoing, for purposes of United States Federal or state
securities laws.

     (e) Reliance by Administrative Agent, L/C Issuer and Lenders. The Administrative
Agent, the L/C Issuers and the Lenders shall be entitled to rely and act upon any notices
(including telephonic Committed Loan Notices and Swing Line 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, except in
the case of any of the foregoing persons who are seeking indemnification hereunder, to the extent
such reliance resulted from such Person’s gross negligence or willful misconduct as determined by a
court of competent jurisdiction by a final and nonappealable judgment. 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.

     10.03 No Waiver; Cumulative Remedies. No failure by any Guaranteed Party to exercise, and no
delay by any such Person in exercising, any right, remedy, power or privilege hereunder or under
any other Loan Document 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. Notwithstanding anything to the contrary contained herein or in any
other Loan Document, the authority to enforce rights and remedies hereunder and under the other
Loan Documents against the Loan Parties or any of them shall be vested exclusively in, and all
actions and proceedings at law in connection with such enforcement shall be instituted and
maintained exclusively by, the Administrative Agent in accordance with Section 8.02 for the
benefit of the Guaranteed Parties; provided, that the foregoing shall not prohibit (a) the
Administrative Agent from exercising on its own behalf the rights and remedies that inure to its
benefit (solely in its capacity as Administrative Agent) hereunder and under the other Loan
Documents, (b) any L/C Issuer or the Swing Line Lender from exercising the rights and remedies that
inure to its benefit (solely in its capacity as L/C Issuer or Swing Line Lender, as the case may
be) hereunder and under the other Loan Documents, (c) any Lender from exercising setoff rights in
accordance with Section 10.08 (subject to the terms of Section 2.13), or (d) any
Lender from filing proofs of claim or appearing and filing pleadings on its own behalf during the
pendency of a proceeding relative to any Loan Party under any Debtor Relief Law; and provided,
further, that if at any time there is no Person

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acting as Administrative Agent hereunder and under the other Loan Documents, then (i) the
Required Lenders shall have the rights otherwise ascribed to the Administrative Agent pursuant to
Section 8.02 and (ii) in addition to the matters set forth in clauses (b),
(c) and (d) of the preceding proviso and subject to Section 2.13, any
Lender may, with the consent of the Required Lenders, enforce any rights and remedies available to
it and as authorized by the Required Lenders.

     10.04 Expenses; Indemnity; Damage Waiver.

     (a) Costs and Expenses. The Borrower shall pay (i) all reasonable out-of-pocket
expenses incurred by the Administrative Agent and its Affiliates (including the reasonable fees,
charges and disbursements of counsel for the Administrative Agent), in connection with the
syndication of the credit facilities provided for herein, the preparation, 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 any 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 reasonable out-of-pocket
expenses incurred by the Administrative Agent, any Lender or any L/C Issuer (including the fees,
charges and disbursements of any counsel for the Administrative Agent, any Lender or any L/C
Issuer, including the reasonable fees and expenses of attorneys who may be employees of the
Administrative 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, 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), 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 reasonable fees, charges and disbursements of any counsel for any
Indemnitee, including the reasonable fees and expenses of any attorney who may be an employee of
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, 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 Documents, (ii) any
Loan or Letter of Credit or the use or proposed use of the proceeds therefrom (including any
refusal by the applicable 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

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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 (y)
result from a claim brought by the Borrower or any other Loan Party against an Indemnitee for
breach in bad faith of such Indemnitee’s obligations hereunder or under any other Loan Document, if
the Borrower or such other 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), 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), such 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) or such 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) or such L/C Issuer in connection with such 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 to such
unintended recipients by such Indemnitee 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 other than for direct or actual damages resulting
from the gross negligence or willful misconduct of such Indemnitee as determined by a final and
nonappealable judgment of a court of competent jurisdiction.

     (e) Payments. All amounts due under this Section 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 and Bank of America as an L/C Issuer, the replacement of any Lender, the
termination of the Aggregate Commitments and the repayment, satisfaction or discharge of all the
other Obligations.

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     10.05 Payments Set Aside. To the extent that any payment by or on behalf of the Borrower is
made to the Administrative Agent, any L/C Issuer or any Lender, or the Administrative 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, 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.

     10.06 Successors and Assigns.

     (a) Successors and Assigns Generally. 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 the Borrower may not 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 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
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 Swing Line Loans) at the time owing to it);
provided that any such assignment shall be subject to the following conditions:

     (i) Minimum Amounts.

     (A) 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, an Affiliate of a Lender or an Approved Fund no
minimum amount need be assigned; and

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     (B) In any case not described in subsection (b)(i)(A) of this Section,
the aggregate amount of the Commitment (which for this purpose includes Loans
outstanding thereunder) or, if the Commitment is not then in effect, the principal
outstanding 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 $5,000,000 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) Proportionate Amounts. 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 the Swing Line Lender’s rights and obligations in
respect of Swing Line Loans;

     (iii) Required Consents. No consent shall be required for any assignment
except to the extent required by subsection (b)(i)(B) of this Section and, in
addition:

     (A) the consent of the Borrower (such consent not to be unreasonably withheld
or delayed) shall be required unless (1) an Event of Default has occurred and is
continuing at the time of such assignment or (2) such assignment is to a Lender, an
Affiliate of a Lender or an Approved Fund;

     (B) the consent of the Administrative Agent (such consent not to be
unreasonably withheld or delayed) shall be required if such assignment is to a
Person that is not a Lender, an Affiliate of such Lender or an Approved Fund with
respect to such Lender;

     (C) the consent of the L/C Issuers (such consent not to be unreasonably
withheld or delayed) shall be required for any assignment that increases the
obligation of the assignee to participate in its exposure under one or more Letters
of Credit (whether or not then outstanding); and

     (D) the consent of the Swing Line Lender (such consent not to be unreasonably
withheld or delayed) shall be required for any assignment.

     (iv) Assignment and Assumption. 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 of $3,500; provided, however,
that the Administrative Agent may, in its sole discretion, elect to waive such processing
and

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recordation fee in the case of any assignment. The assignee, if it is not a Lender
shall deliver to the Administrative Agent an Administrative Questionnaire.

     (v) No Assignment to Borrower and Defaulting Lender. No such assignment shall
be made (A) to the Borrower or any of the Borrower’s Affiliates or Subsidiaries or (B) to
any Defaulting Lender or any of its Subsidiaries, or any Person who, upon becoming a Lender
hereunder, would constitute any of the foregoing Persons described in this clause
(B).

     (vi) No Assignment to Natural Persons. No such assignment shall be made to a
natural person.

     (vii) Certain Additional Payments. In connection with any assignment of rights
and obligations of any Defaulting Lender hereunder, no such assignment shall be effective
unless and until, in addition to the other conditions thereto set forth herein, the parties
to the assignment shall make such additional payments to the Administrative Agent in an
aggregate amount sufficient, upon distribution thereof as appropriate (which may be outright
payment, purchases by the assignee of participations or subparticipations, or other
compensating actions, including funding, with the consent of the Borrower and the
Administrative Agent, the applicable pro rata share of Loans previously requested but not
funded by the Defaulting Lender, to each of which the applicable assignee and assignor
hereby irrevocably consent), to (x) pay and satisfy in full all payment liabilities then
owed by such Defaulting Lender to the Administrative Agent or any Lender hereunder (and
interest accrued thereon) and (y) acquire (and fund as appropriate) its full pro rata share
of all Loans and participations in Letters of Credit and Swing Line Loans in accordance with
its Applicable Percentage. Notwithstanding the foregoing, in the event that any assignment
of rights and obligations of any Defaulting Lender hereunder shall become effective under
applicable Law without compliance with the provisions of this paragraph, then the assignee
of such interest shall be deemed to be a Defaulting Lender for all purposes of this
Agreement until such compliance occurs.

     Subject to acceptance and recording thereof by the Administrative Agent pursuant to
subsection (c) of this Section, from and after the effective date specified in each
Assignment and Assumption, the 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 and assumed 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 10.04 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.

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     (c) Register. The Administrative Agent, acting solely for this purpose as an agent of
the Borrower (and such agency being solely for tax purposes), 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 absent
manifest error, 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. In addition, the
Administrative Agent shall maintain on the Register information regarding the designation, and
revocation of designation, of any Lender as a Defaulting Lender. The Register shall be available
for inspection by the Borrower and any Lender at any reasonable time and from time to time upon
reasonable prior notice.

     (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, a Defaulting Lender, 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 Swing Line 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 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 10.01 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
10.08 as though it were a Lender, provided such Participant agrees to be subject to Section
2.13 as though it were a Lender.

     (e) Limitations upon Participant 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 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.

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     (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 as L/C Issuer or Swing Line Lender after Assignment. Notwithstanding
anything to the contrary contained herein, if at any time Bank of America assigns all of its
Commitment and Loans pursuant to subsection (b) above, Bank of America may, (i) upon 30
days’ prior notice to the Borrower and the Lenders, resign as L/C Issuer and/or (ii) upon 30 days’
prior notice to the Borrower, resign as Swing Line Lender. In the event of any such resignation as
L/C Issuer or Swing Line Lender, the Borrower shall be entitled to appoint from among the Lenders a
successor L/C Issuer or Swing Line Lender hereunder; provided that such successor shall
consent to such appointment by the Borrower; and provided further that no failure
by the Borrower to appoint any such successor shall affect the resignation of Bank of America as
L/C Issuer or Swing Line Lender, as the case may be. If Bank of America resigns as 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 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)). If Bank of America resigns as Swing Line Lender, it shall retain all the rights of
the Swing Line Lender provided for hereunder with respect to Swing Line 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 Swing Line
Loans pursuant to Section 2.04(c). Upon the appointment of a successor L/C Issuer and/or
Swing Line Lender, (a) such successor shall succeed to and become vested with all of the rights,
powers, privileges and duties of the retiring L/C Issuer or Swing Line Lender, as the case may be,
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 to effectively assume the obligations of Bank of America with respect to such
Letters of Credit.

     10.07 Treatment of Certain Information; Confidentiality. Each of the Administrative Agent,
the Lenders and the L/C Issuers 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, trustees, advisors and
representatives on a need-to-know basis (it being understood that the Persons to

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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 or its Affiliates (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 or any Eligible Assignee invited to be a Lender pursuant to Section
2.14(b) or (ii) 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 or (y) becomes available to the Administrative Agent, any
Lender, the L/C Issuer or any of their respective Affiliates on a nonconfidential basis from a
source other than the Borrower or any of its Subsidiaries.

     For purposes of this Section, “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 the L/C Issuers 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 reasonable 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 United States Federal and state securities laws.

     10.08 Right of Setoff. 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 giving prior written notice to 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, the L/C Issuer or any such
Affiliate to or for the credit or the account of the Borrower against any and all of the
obligations of the Borrower 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 may be contingent or unmatured or are owed to a branch or

101

 

office of such Lender or such L/C Issuer different from the branch or office holding such
deposit or obligated on such indebtedness; provided, that in the event that any Defaulting
Lender shall exercise any such right of setoff hereunder, (x) all amounts so set off shall be paid
over immediately to the Administrative Agent for further application in accordance with the
provisions of Section 2.16 and, pending such payment, shall be segregated by such
Defaulting Lender from its other funds and deemed held in trust for the benefit of the
Administrative Agent and the Lenders, and (y) the Defaulting Lender shall provide promptly to the
Administrative Agent a statement describing in reasonable detail the Obligations owing to such
Defaulting Lender as to which it exercised such right of setoff. The rights of each Lender, such
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.

     10.09 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.

     10.10 Counterparts; Integration; Effectiveness. This Agreement and the other Loan Documents
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 4.01 or as provided in the applicable Loan Document, this Agreement or such other
Loan Documents shall become effective when they shall have been executed by the Administrative
Agent and when the Administrative Agent shall have received counterparts hereof or thereof 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 and any other Loan Document by telecopy
or other electronic imaging means shall be effective as delivery of a manually executed counterpart
of this Agreement and the other Loan Documents.

     10.11 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

102

 

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 as long as any Loan or any other
Obligation hereunder shall remain unpaid or unsatisfied or any Letter of Credit shall remain
outstanding.

     10.12 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 as 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. Without limiting the foregoing provisions of this
Section 10.12, if and to the extent that the enforceability of any provisions in this
Agreement relating to Defaulting Lenders shall be limited by Debtor Relief Laws, as determined in
good faith by the Administrative Agent, any L/C Issuer or the Swing Line Lender, as applicable,
then such provisions shall be deemed to be in effect only to the extent not so limited.

     10.13 Replacement of Lenders; Termination of Commitments.

     (a) 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 is a Defaulting Lender, or (iv)
any Lender fails to approve any amendment, waiver or consent requested by the Borrower pursuant to
Section 10.01 that has received the written approval of not less than the Required Lenders
but also requires the approval of such Lender, then the Borrower may elect, by delivering written
notice to such Lender and the Administrative Agent, to either replace such Lender at its sole
expense and effort in accordance with subsection (b) below or terminate all of the
Commitments of such Lender in accordance with subsection (c) below.

     (b) If the Borrower elects to replace a Lender in accordance with subsection (a)
above, such Lender shall be required to assign and delegate, without recourse (in accordance with
and subject to the restrictions contained in, and consents required by, Section 10.06),
within 10 Business Days after receipt by such Lender of the Borrower’s written notice of such
election, all of its interests, rights and obligations under this Agreement and the related Loan
Documents to an assignee identified by the Borrower that shall assume such obligations (which
assignee may be another Lender, if a Lender accepts such assignment), provided that:

     (i) the Borrower shall have paid to the Administrative Agent the assignment fee
specified in Section 10.06(b);

     (ii) 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

103

 

outstanding principal and accrued interest and fees) or the Borrower (in the case of
all other amounts);

     (iii) 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;

     (iv) in the case of any such assignment resulting from the refusal of a Lender to
approve a requested amendment, waiver or consent, the Person to whom such assignment is
being made has agreed to approve such amendment, waiver or consent; and

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

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.

     (c) If the Borrower elects to terminate the Commitments of a Lender in accordance with
subsection (a) above, all of the Commitments of such Lender shall be terminated immediately
(with the Aggregate Commitments reduced in a like amount on a non-pro rata basis) upon the later of
(i) the date of the receipt by the Administrative Agent and such Lender of the Borrower’s written
notice of such election and (ii) the date that the Borrower has repaid all of outstanding principal
of its Loans and L/C Advances of such Lender, together with 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) (which payments may be applied to the Loans, interest, fees and
other obligations of such Lender on a non-pro rata basis with payments made to the other Lenders,
notwithstanding the provisions of Section 2.13 to the contrary); provided, that the
Borrower may not terminate the Commitments of a Lender pursuant to this subsection (c) if,
after giving effect to such termination and the repayment of Loans of such Lender required hereby,
the Total Outstandings minus the amount of any Cash Collateral that the Borrower has
provided to secure outstanding L/C Obligations prior to or concurrently with such termination would
exceed the Aggregate Commitments.

     10.14 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. EACH OF THE BORROWER AND EACH GUARANTOR 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
FOR 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

104

 

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 THE 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
ITS PROPERTIES IN THE COURTS OF ANY JURISDICTION.

     (c) WAIVER OF VENUE. EACH OF THE BORROWER AND EACH GUARANTOR 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 10.02 TO THE EXTENT NOT PROHIBITED BY
APPLICABLE LAW. NOTHING IN THIS AGREEMENT WILL AFFECT THE RIGHT OF ANY PARTY HERETO TO SERVE
PROCESS IN ANY OTHER MANNER PERMITTED BY APPLICABLE LAW. EACH PARTY HERETO IRREVOCABLY WAIVES
PERSONAL SERVICE OF ANY SUMMONS, COMPLAINT OR OTHER PROCESS.

     10.15 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.

105

 

     10.16 No Advisory or Fiduciary Responsibility. In connection with all aspects of each
transaction contemplated hereby (including in connection with any amendment, waiver or other
modification hereof or of any other Loan Document), the Borrower acknowledges and agrees, and
acknowledges its Affiliates’ understanding, that: (i) (A) the arranging and other services
regarding this Agreement provided by the Administrative Agent, the Arrangers, co-documentation
agents and Lenders are arm’s-length commercial transactions between the Borrower and its
Affiliates, on the one hand, and the Administrative Agent and the Arrangers, on the other hand, (B)
the Borrower has consulted its own legal, accounting, regulatory and tax advisors to the extent it
has deemed appropriate, and (C) the Borrower is capable of evaluating, and understands and accepts,
the terms, risks and conditions of the transactions contemplated hereby and by the other Loan
Documents; (ii) (A) the Administrative Agent, the Arrangers, co-documentation agents and Lenders
each is and has been acting solely as a principal and, except as expressly agreed in writing by the
relevant parties, has not been, is not, and will not be acting as an advisor, agent or fiduciary
for the Borrower or any of its Affiliates or any other Person and (B) neither the Administrative
Agent nor the Arrangers, co-documentation agents and Lenders has any obligation to the Borrower or
any of its Affiliates with respect to the transactions contemplated hereby except those obligations
expressly set forth herein and in the other Loan Documents and (iii) the Administrative Agent, the
Arrangers, co-documentation agents and Lenders and their respective Affiliates may be engaged in a
broad range of transactions that involve interests that differ from those of the Borrower and its
Affiliates, and neither the Administrative Agent nor the Arrangers, co-documentation agents and
Lenders has any obligation to disclose any of such interests to the Borrower or its Affiliates.
To the fullest extent permitted by law, the Borrower hereby waives and releases any claims that it
may have against the Administrative Agent, the Arrangers, co-documentation agents and Lenders with
respect to any breach or alleged breach of agency or fiduciary duty in connection with any aspect
of any transaction contemplated hereby.

     10.17 Electronic Execution of Assignments and Certain Other Documents. The words “execution,”
“signed,” “signature,” and words of like import in any Assignment and Assumption or in any
amendment or other modification hereof (including waivers and consents) 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.

     10.18 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 the
Borrower that pursuant to the requirements of the USA PATRIOT Act (Title III of Pub. L. 107-56
(signed into law October 26, 2001)) (the “Act”), it is required to obtain, verify and
record information that identifies each Loan Party, which information includes the name and address
of each Loan Party, tax identification number and other information that will allow such Lender or
the Administrative Agent, as applicable, to identify each Loan Party in accordance with the Act.
The Borrower shall, promptly following a request by the Administrative Agent or any Lender, provide
all documentation and other information that the Administrative Agent or such Lender requests in
order to comply with its ongoing obligations

106

 

under applicable “know your customer” and anti-money laundering rules and regulations,
including the Act.

ARTICLE XI.

CONSENT AND CONFIRMATION OF THE GUARANTORS.

     11.01 Consent and Confirmation. Each of the Guarantors hereby (i) consents, acknowledges and
agrees to the amendment and restatement of the Existing Credit Agreement provided hereby and set
forth herein, (ii) confirms and ratifies in all respects the Guaranty and the enforceability of the
Guaranty against each Guarantor in accordance with its terms, and (iii) confirms and agrees that
each Guarantor’s payment and performance obligations under, and the “Guaranteed Liabilities” as
defined in, the Guaranty do and shall continue as to and include all Obligations (as defined in
this Agreement) of any Loan Party under this Agreement, the Notes and the Loan Documents (each as
defined in this Agreement) upon and after the effectiveness of this Agreement and amendment and
restatement of the Existing Credit Agreement contemplated hereby. Each of the parties to this
Agreement agrees that (a) the Guaranty and each Guaranty Joinder Agreement shall be governed by,
and construed in accordance with, the laws of the State of New York, notwithstanding the provisions
of Section 25(a) of the Guaranty and of Section 6 of the Guaranty Joinder Agreement, (b) the
provisions of Section 10.14(b) and Section 10.14(c) shall supersede Section 25(b)
of the Guaranty and any other inconsistent provisions set forth in the Loan Documents; and (c) the
“Guaranty” as defined in the Guaranty Joinder Agreement shall mean the Guaranty as modified by this
Section 11.01.

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

107

 

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

	 	 	 	 	 	 	 

	 	 	REPUBLIC SERVICES, INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Edward A. Lang, III
 

	 	 
	 

	 	Name:
	 	Edward A. Lang, III	 	 
	 

	 	Title:
	 	Senior Vice President & Treasurer	 	 

Republic Services, Inc. — Amended and Restated Credit Agreement

Signature Page

 

 

THE FOLLOWING CORPORATIONS, AS GUARANTORS:

623 LANDFILL, INC.

A D A J CORPORATION

ACTION DISPOSAL, INC.

ADA COUNTY DEVELOPMENT COMPANY, INC.

ADRIAN LANDFILL, INC.

ADS OF ILLINOIS, INC.

ADS, INC.

AGRI-TECH, INC. OF OREGON

ALABAMA RECYCLING SERVICES, INC.

ALBANY-LEBANON SANITATION, INC.

ALLIED ACQUISITION PENNSYLVANIA, INC.

ALLIED ACQUISITION TWO, INC.

ALLIED ENVIROENGINEERING, INC.

ALLIED GREEN POWER, INC.

ALLIED NOVA SCOTIA, INC.

ALLIED WASTE ALABAMA, INC.

ALLIED WASTE COMPANY, INC.

ALLIED WASTE HAULING OF GEORGIA, INC.

ALLIED WASTE HOLDINGS (CANADA) LTD.

ALLIED WASTE INDUSTRIES (ARIZONA), INC.

ALLIED WASTE INDUSTRIES (NEW MEXICO), INC.

ALLIED WASTE INDUSTRIES (SOUTHWEST), INC.

ALLIED WASTE INDUSTRIES OF GEORGIA, INC.

ALLIED WASTE INDUSTRIES OF ILLINOIS, INC.

ALLIED WASTE INDUSTRIES OF NORTHWEST INDIANA, INC.

ALLIED WASTE INDUSTRIES OF TENNESSEE, INC.

ALLIED WASTE INDUSTRIES, INC.

ALLIED WASTE LANDFILL HOLDINGS, INC.

ALLIED WASTE NORTH AMERICA, INC.

ALLIED WASTE OF CALIFORNIA, INC.

ALLIED WASTE OF LONG ISLAND, INC.

ALLIED WASTE OF NEW JERSEY, INC.

ALLIED WASTE RURAL SANITATION, INC.

ALLIED WASTE SERVICES OF COLORADO, INC.

	 	 	 	 	 

	By:

	 	/s/ Edward A. Lang, III
 

	 	 
	Name:

	 	Edward A. Lang, III	 	 
	Title:

	 	As Treasurer of each of the foregoing Corporations	 	 

Republic Services, Inc. — Amended and Restated Credit Agreement

Signature Page

 

 

ALLIED WASTE SERVICES OF PAGE, INC.

ALLIED WASTE SERVICES OF STILLWATER, INC.

ALLIED WASTE SYSTEMS HOLDINGS, INC.

ALLIED WASTE SYSTEMS, INC.

ALLIED WASTE TRANSFER SERVICES OF UTAH, INC.

ALLIED WASTE TRANSPORTATION, INC.

AMERICAN DISPOSAL SERVICES OF ILLINOIS, INC.

AMERICAN DISPOSAL SERVICES OF KANSAS, INC.

AMERICAN DISPOSAL SERVICES OF MISSOURI, INC.

AMERICAN DISPOSAL SERVICES OF NEW JERSEY, INC.

AMERICAN DISPOSAL SERVICES OF WEST VIRGINIA, INC.

AMERICAN DISPOSAL SERVICES, INC.

AMERICAN DISPOSAL TRANSFER SERVICES OF ILLINOIS, INC.

AMERICAN MATERIALS RECYCLING CORP.

AMERICAN SANITATION, INC.

AMERICAN TRANSFER COMPANY, INC.

APACHE JUNCTION LANDFILL CORPORATION

ARC DISPOSAL COMPANY, INC.

AREA DISPOSAL, INC.

ATLANTIC WASTE HOLDING COMPANY, INC.

ATLAS TRANSPORT, INC.

ATTWOODS OF NORTH AMERICA, INC.

AUTOMATED MODULAR SYSTEMS, INC.

AUTOSHRED, INC.

AWIN LEASING COMPANY, INC.

AWIN MANAGEMENT, INC.

BARKER BROTHERS WASTE INCORPORATED

BAY COLLECTION SERVICES, INC.

BAY ENVIRONMENTAL MANAGEMENT, INC.

BAY LANDFILLS, INC.

BAY LEASING COMPANY, INC.

BBCO, INC.

BELLEVILLE LANDFILL, INC.

BERKELEY SANITARY SERVICE, INC.

BFI ATLANTIC, INC.

BFI ENERGY SYSTEMS OF ALBANY, INC.

BFI ENERGY SYSTEMS OF DELAWARE COUNTY, INC.

BFI ENERGY SYSTEMS OF ESSEX COUNTY, INC.

	 	 	 	 	 

	By:

	 	/s/ Edward A. Lang, III
 

	 	 
	Name:

	 	Edward A. Lang, III	 	 
	Title:

	 	As Treasurer of each of the foregoing Corporations	 	 

Republic Services, Inc. — Amended and Restated Credit Agreement

Signature Page

 

 

BFI ENERGY SYSTEMS OF HEMPSTEAD, INC.

BFI ENERGY SYSTEMS OF NIAGARA II, INC.

BFI ENERGY SYSTEMS OF NIAGARA, INC.

BFI ENERGY SYSTEMS OF SEMASS, INC.

BFI ENERGY SYSTEMS OF SOUTHEASTERN CONNECTICUT, INC.

BFI REF-FUEL, INC.

BFI TRANS RIVER (GP), INC.

BFI TRANSFER SYSTEMS OF NEW JERSEY, INC.

BFI WASTE SYSTEMS OF NEW JERSEY, INC.

BIO-MED OF OREGON, INC.

BLT ENTERPRISES OF OXNARD, INC.

BOND COUNTY LANDFILL, INC.

BORREGO LANDFILL, INC.

BORROW PIT CORP.

BRICKYARD DISPOSAL & RECYCLING, INC.

BROWNING-FERRIS INDUSTRIES CHEMICAL SERVICES, INC.

BROWNING-FERRIS INDUSTRIES OF CALIFORNIA, INC.

BROWNING-FERRIS INDUSTRIES OF FLORIDA, INC.

BROWNING-FERRIS INDUSTRIES OF ILLINOIS, INC.

BROWNING-FERRIS INDUSTRIES OF NEW JERSEY, INC.

BROWNING-FERRIS INDUSTRIES OF NEW YORK, INC.

BROWNING-FERRIS INDUSTRIES OF OHIO, INC.

BROWNING-FERRIS INDUSTRIES OF TENNESSEE, INC.

BROWNING-FERRIS INDUSTRIES, INC.

BROWNING-FERRIS SERVICES, INC.

BROWNING-FERRIS, INC.

BUNTING TRASH SERVICE, INC.

CALVERT TRASH SYSTEMS, INCORPORATED

CAPITOL RECYCLING AND DISPOSAL, INC.

CC LANDFILL, INC.

CECOS INTERNATIONAL, INC.

CELINA LANDFILL, INC.

CENTRAL ARIZONA TRANSFER, INC.

CENTRAL SANITARY LANDFILL, INC.

CHARTER EVAPORATION RESOURCE RECOVERY SYSTEMS

CHEROKEE RUN LANDFILL, INC.

CITIZENS DISPOSAL, INC.

	 	 	 	 	 

	By:

	 	/s/ Edward A. Lang, III
 

	 	 
	Name:

	 	Edward A. Lang, III	 	 
	Title:

	 	As Treasurer of each of the foregoing Corporations	 	 

Republic Services, Inc. — Amended and Restated Credit Agreement

Signature Page

 

 

CITY-STAR SERVICES, INC.

CLARKSTON DISPOSAL, INC.

COCOPAH LANDFILL, INC.

COMPACTOR RENTAL SYSTEMS OF DELAWARE, INC.

COPPER MOUNTAIN LANDFILL, INC.

CORVALLIS DISPOSAL CO.

COUNTY DISPOSAL (OHIO), INC.

COUNTY DISPOSAL, INC.

COUNTY LANDFILL, INC.

CROCKETT SANITARY SERVICE, INC.

CWI OF ILLINOIS, INC.

CWI OF MISSOURI, INC.

DALLAS DISPOSAL CO.

DELTA CONTAINER CORPORATION

DELTA DADE RECYCLING CORP.

DELTA PAPER STOCK, CO.

DELTA RESOURCES CORP.

DELTA SITE DEVELOPMENT CORP.

DELTA WASTE CORP.

DEMPSEY WASTE SYSTEMS II, INC.

DENVER RL NORTH, INC.

DTC MANAGEMENT, INC.

EAGLE INDUSTRIES LEASING, INC.

EAST CHICAGO COMPOST FACILITY, INC.

ECDC ENVIRONMENTAL OF HUMBOLDT COUNTY, INC.

ECDC HOLDINGS, INC.

ELDER CREEK TRANSFER & RECOVERY, INC.

ENVIROCYCLE, INC.

ENVIRONMENTAL DEVELOPMENT CORP. [DE]

ENVIRONMENTAL RECLAMATION COMPANY

ENVIRONTECH, INC.

EVERGREEN SCAVENGER SERVICE, INC.

F. P. McNAMARA RUBBISH REMOVAL INC.

FLL, INC.

FORWARD, INC.

FRED BARBARA TRUCKING CO., INC.

G. VAN DYKEN DISPOSAL INC.

GEK, INC.

GENERAL REFUSE ROLLOFF CORP.

	 	 	 	 	 

	By:

	 	/s/ Edward A. Lang, III
 

	 	 
	Name:

	 	Edward A. Lang, III	 	 
	Title:

	 	As Treasurer of each of the foregoing Corporations	 	 

Republic Services, Inc. — Amended and Restated Credit Agreement

Signature Page

 

 

GEORGIA RECYCLING SERVICES, INC.

GOLDEN BEAR TRANSFER SERVICES, INC.

GOLDEN WASTE DISPOSAL, INC.

GRANTS PASS SANITATION, INC.

GREAT LAKES DISPOSAL SERVICE, INC.

GULFCOAST WASTE SERVICE, INC.

HARLAND’S SANITARY LANDFILL, INC.

HONEYGO RUN RECLAMATION CENTER, INC.

ILLINOIS LANDFILL, INC.

ILLINOIS RECYCLING SERVICES, INC.

ILLINOIS VALLEY RECYCLING, INC.

IMPERIAL LANDFILL, INC.

INDEPENDENT TRUCKING COMPANY

INGRUM WASTE DISPOSAL, INC.

INTERNATIONAL DISPOSAL CORP. OF CALIFORNIA

ISLAND WASTE SERVICES LTD.

JETTER DISPOSAL, INC.

KANKAKEE QUARRY, INC.

KELLER CANYON LANDFILL COMPANY

KELLER DROP BOX, INC.

LA CAÑADA DISPOSAL COMPANY, INC.

LAKE NORMAN LANDFILL, INC.

LANDCOMP CORPORATION

LATHROP SUNRISE SANITATION CORPORATION

LEE COUNTY LANDFILL, INC.

LIBERTY WASTE HOLDINGS, INC.

LOOP RECYCLING, INC.

LOOP TRANSFER, INCORPORATED

LOUIS PINTO & SON, INC., SANITATION CONTRACTORS

LUCAS COUNTY LAND DEVELOPMENT, INC.

MANUMIT OF FLORIDA, INC.

McCUSKER RECYCLING, INC.

McINNIS WASTE SYSTEMS, INC.

MESA DISPOSAL, INC.

MIDWAY DEVELOPMENT COMPANY, INC.

MISSISSIPPI WASTE PAPER COMPANY

MOUNTAIN HOME DISPOSAL, INC.

NATIONSWASTE CATAWBA REGIONAL LANDFILL, INC.

NATIONSWASTE, INC.

	 	 	 	 	 

	By:

	 	/s/ Edward A. Lang, III
 

	 	 
	Name:

	 	Edward A. Lang, III	 	 
	Title:

	 	As Treasurer of each of the foregoing Corporations	 	 

Republic Services, Inc. — Amended and Restated Credit Agreement

Signature Page

 

 

NCORP, INC.

NEW MORGAN LANDFILL COMPANY, INC.

NEWCO WASTE SYSTEMS OF NEW JERSEY, INC.

NOBLE ROAD LANDFILL, INC.

NORTHLAKE TRANSFER, INC.

NORTHWEST TENNESSEE DISPOSAL CORPORATION

OAKLAND HEIGHTS DEVELOPMENT, INC.

OHIO REPUBLIC CONTRACTS, II, INC.

OHIO REPUBLIC CONTRACTS, INC.

OSCAR’S COLLECTION SYSTEM OF FREMONT, INC.

OTAY LANDFILL, INC.

OTTAWA COUNTY LANDFILL, INC.

PALOMAR TRANSFER STATION, INC.

PELTIER REAL ESTATE COMPANY

PERDOMO & SONS, INC.

PINAL COUNTY LANDFILL CORP.

PITTSBURG COUNTY LANDFILL, INC.

PORT CLINTON LANDFILL, INC.

PORTABLE STORAGE CO.

PREBLE COUNTY LANDFILL, INC.

PRICE & SONS RECYCLING COMPANY

R.C. MILLER ENTERPRISES, INC.

R.C. MILLER REFUSE SERVICE INC.

RABANCO RECYCLING, INC.

RABANCO, LTD.

RAMONA LANDFILL, INC.

RCS, INC.

RELIABLE DISPOSAL, INC.

REPUBLIC DUMPCO, INC.

REPUBLIC ENVIRONMENTAL TECHNOLOGIES, INC.

REPUBLIC SERVICES AVIATION, INC.

REPUBLIC SERVICES FINANCIAL LP, INC.

REPUBLIC SERVICES HOLDING COMPANY, INC.

REPUBLIC SERVICES OF CALIFORNIA HOLDING COMPANY, INC.

REPUBLIC SERVICES OF FLORIDA GP, INC.

REPUBLIC SERVICES OF FLORIDA LP, INC.

REPUBLIC SERVICES OF INDIANA LP, INC.

REPUBLIC SERVICES OF MICHIGAN HOLDING COMPANY, INC.

	 	 	 	 	 

	By:

	 	/s/ Edward A. Lang, III
 

	 	 
	Name:

	 	Edward A. Lang, III	 	 
	Title:

	 	As Treasurer of each of the foregoing Corporations	 	 

Republic Services, Inc. — Amended and Restated Credit Agreement

Signature Page

 

 

REPUBLIC SERVICES REAL ESTATE HOLDING, INC.

REPUBLIC SILVER STATE DISPOSAL, INC.

REPUBLIC WASTE SERVICES OF TEXAS GP, INC.

REPUBLIC WASTE SERVICES OF TEXAS LP, INC.

RESOURCE RECOVERY, INC.

RI/ALAMEDA CORP.

RICHMOND SANITARY SERVICE, INC.

RISK SERVICES, INC.

ROCK ROAD INDUSTRIES, INC.

ROSS BROS. WASTE & RECYCLING CO.

ROSSMAN SANITARY SERVICE, INC.

ROXANA LANDFILL, INC.

ROYAL HOLDINGS, INC.

S & S RECYCLING, INC.

SALINE COUNTY LANDFILL, INC.

SAN MARCOS NCRRF, INC.

SANDY HOLLOW LANDFILL CORP.

SANGAMON VALLEY LANDFILL, INC.

SANITARY DISPOSAL SERVICE, INC.

SAUK TRAIL DEVELOPMENT, INC.

SCHOFIELD CORPORATION OF ORLANDO

SHRED — ALL RECYCLING SYSTEMS INC.

SOLANO GARBAGE COMPANY

SOURCE RECYCLING, INC.

SOUTHERN ILLINOIS REGIONAL LANDFILL, INC.

STANDARD DISPOSAL SERVICES, INC.

STANDARD ENVIRONMENTAL SERVICES, INC.

STANDARD WASTE, INC.

STREATOR AREA LANDFILL, INC.

SUBURBAN TRANSFER, INC. [IL]

SUBURBAN WAREHOUSE, INC.

SUMMIT WASTE SYSTEMS, INC.

SUNRISE SANITATION SERVICE, INC.

SUNSET DISPOSAL SERVICE, INC.

SUNSET DISPOSAL, INC.

SYCAMORE LANDFILL, INC.

TATE’S TRANSFER SYSTEMS, INC.

TAY-BAN CORPORATION

TAYLOR RIDGE LANDFILL, INC.

	 	 	 	 	 

	By:

	 	/s/ Edward A. Lang, III
 

	 	 
	Name:

	 	Edward A. Lang, III	 	 
	Title:

	 	As Treasurer of each of the foregoing Corporations	 	 

Republic Services, Inc. — Amended and Restated Credit Agreement

Signature Page

 

 

TENNESSEE UNION COUNTY LANDFILL, INC.

THE ECOLOGY GROUP, INC.

THOMAS DISPOSAL SERVICE, INC.

TOM LUCIANO’S DISPOSAL SERVICE, INC.

TOTAL SOLID WASTE RECYCLERS, INC.

TRICIL (N.Y.), INC.

TRI-COUNTY REFUSE SERVICE, INC.

TRI-STATE RECYCLING SERVICES, INC.

TRI-STATE REFUSE CORPORATION

UNITED DISPOSAL SERVICE, INC.

UPPER ROCK ISLAND COUNTY LANDFILL, INC.

VALLEY LANDFILLS, INC.

VINING DISPOSAL SERVICE, INC.

WASATCH REGIONAL LANDFILL, INC.

WASTE CONTROL SYSTEMS, INC.

WASTE SERVICES OF NEW YORK, INC.

WASTEHAUL, INC.

WAYNE COUNTY LANDFILL IL, INC.

WDTR, INC.

WEST CONTRA COSTA ENERGY RECOVERY COMPANY

WEST CONTRA COSTA SANITARY LANDFILL, INC.

WEST COUNTY LANDFILL, INC.

WEST COUNTY RESOURCE RECOVERY, INC.

WILLAMETTE RESOURCES, INC.

WILLIAMS COUNTY LANDFILL INC.

WJR ENVIRONMENTAL, INC.

WOODLAKE SANITARY SERVICE, INC.

ZAKAROFF SERVICES

	 	 	 	 	 

	By:

	 	/s/ Edward A. Lang, III
 

	 	 
	Name:

	 	Edward A. Lang, III	 	 
	Title:

	 	As Treasurer of each of the foregoing Corporations	 	 

Republic Services, Inc. — Amended and Restated Credit Agreement

Signature Page

 

 

	 	 	 	 	 

	DINVERNO, INC.	 	 
	 
	 	 	 	 
	By:

	 	/s/ Roger A. Groen, Jr.
 

	 	 
	Name:

	 	Roger A. Groen, Jr.	 	 
	Title:

	 	President	 	 

Republic Services, Inc. — Amended and Restated Credit Agreement

Signature Page

 

 

THE FOLLOWING LIMITED LIABILITY COMPANIES, AS GUARANTORS:

AGRICULTURAL ACQUISITIONS, LLC

ALLIED GAS RECOVERY SYSTEMS, L.L.C.

ALLIED SERVICES, LLC

ALLIED TRANSFER SYSTEMS OF NEW JERSEY, LLC

ALLIED WASTE ENVIRONMENTAL MANAGEMENT GROUP, LLC

ALLIED WASTE NIAGARA FALLS LANDFILL, LLC

ALLIED WASTE OF NEW JERSEY-NEW YORK, LLC

ALLIED WASTE RECYCLING SERVICES OF NEW HAMPSHIRE, LLC

ALLIED WASTE SERVICES OF MASSACHUSETTS, LLC

ALLIED WASTE SERVICES OF NORTH AMERICA, LLC

ALLIED WASTE SYCAMORE LANDFILL, LLC

ALLIED WASTE SYSTEMS OF ARIZONA, LLC

ALLIED WASTE SYSTEMS OF COLORADO, LLC

ALLIED WASTE SYSTEMS OF INDIANA, LLC

ALLIED WASTE SYSTEMS OF MICHIGAN, LLC

ALLIED WASTE SYSTEMS OF MONTANA, LLC

ALLIED WASTE SYSTEMS OF NEW JERSEY, LLC

ALLIED WASTE SYSTEMS OF NORTH CAROLINA, LLC

ALLIED WASTE SYSTEMS OF PENNSYLVANIA, LLC

ALLIED WASTE TRANSFER SERVICES OF ARIZONA, LLC

ALLIED WASTE TRANSFER SERVICES OF CALIFORNIA, LLC

ALLIED WASTE TRANSFER SERVICES OF FLORIDA, LLC

ALLIED WASTE TRANSFER SERVICES OF IOWA, LLC

ALLIED WASTE TRANSFER SERVICES OF LIMA, LLC

ALLIED WASTE TRANSFER SERVICES OF NEW YORK, LLC

ALLIED WASTE TRANSFER SERVICES OF NORTH CAROLINA, LLC

ALLIED WASTE TRANSFER SERVICES OF OREGON, LLC

ALLIED WASTE TRANSFER SERVICES OF RHODE ISLAND, LLC

ANSON COUNTY LANDFILL NC, LLC

ARIANA, LLC

AUTAUGA COUNTY LANDFILL, LLC

AWIN LEASING II, LLC

BFGSI, L.L.C.

BFI TRANSFER SYSTEMS OF ALABAMA, LLC

BFI TRANSFER SYSTEMS OF DC, LLC

BFI TRANSFER SYSTEMS OF GEORGIA, LLC

BFI TRANSFER SYSTEMS OF MARYLAND, LLC

	 	 	 	 	 	 	 

	By:	 	/s/ Edward A. Lang, III	 	 
	 	 	 	 	 
	Name:	 	Edward A. Lang, III
	Title:	 	As Treasurer of each of the foregoing Limited Liability Companies

Republic Services, Inc. — Amended and Restated Credit Agreement

Signature Page

 

 

BFI TRANSFER SYSTEMS OF MASSACHUSETTS, LLC

BFI TRANSFER SYSTEMS OF MISSISSIPPI, LLC

BFI TRANSFER SYSTEMS OF PENNSYLVANIA, LLC

BFI TRANSFER SYSTEMS OF VIRGINIA, LLC

BFI WASTE SERVICES OF PENNSYLVANIA, LLC

BFI WASTE SERVICES OF TENNESSEE, LLC

BFI WASTE SERVICES, LLC

BFI WASTE SYSTEMS OF ALABAMA, LLC

BFI WASTE SYSTEMS OF ARKANSAS, LLC

BFI WASTE SYSTEMS OF GEORGIA, LLC

BFI WASTE SYSTEMS OF KENTUCKY, LLC

BFI WASTE SYSTEMS OF LOUISIANA, LLC

BFI WASTE SYSTEMS OF MASSACHUSETTS, LLC

BFI WASTE SYSTEMS OF MISSISSIPPI, LLC

BFI WASTE SYSTEMS OF MISSOURI, LLC

BFI WASTE SYSTEMS OF NORTH AMERICA, LLC

BFI WASTE SYSTEMS OF NORTH CAROLINA, LLC

BFI WASTE SYSTEMS OF OKLAHOMA, LLC

BFI WASTE SYSTEMS OF SOUTH CAROLINA, LLC

BFI WASTE SYSTEMS OF TENNESSEE, LLC

BFI WASTE SYSTEMS OF VIRGINIA, LLC

BRIDGETON LANDFILL, LLC

BRIDGETON TRANSFER STATION, LLC

BROWNING-FERRIS INDUSTRIES, LLC

BRUNSWICK WASTE MANAGEMENT FACILITY, LLC

BUTLER COUNTY LANDFILL, LLC

C & C EXPANDED SANITARY LANDFILL, LLC

CACTUS WASTE SYSTEMS, LLC

CARBON LIMESTONE LANDFILL, LLC

CENTRAL VIRGINIA PROPERTIES, LLC

CHILTON LANDFILL, LLC

CONSOLIDATED DISPOSAL SERVICE, L.L.C.

CONTINENTAL WASTE INDUSTRIES, L.L.C.

COUNTY ENVIRONMENTAL LANDFILL, LLC

COUNTY LAND DEVELOPMENT LANDFILL, LLC

COURTNEY RIDGE LANDFILL, LLC

CRESCENT ACRES LANDFILL, LLC

CUMBERLAND COUNTY DEVELOPMENT COMPANY, LLC

D & L DISPOSAL, L.L.C.

E LEASING COMPANY, LLC

	 	 	 	 	 	 	 

	By:	 	/s/ Edward A. Lang, III	 	 
	 	 	 	 	 
	Name:	 	Edward A. Lang, III
	Title:	 	As Treasurer of each of the foregoing Limited Liability Companies

Republic Services, Inc. — Amended and Restated Credit Agreement

Signature Page

 

 

ECDC ENVIRONMENTAL, L.C.

ELLIS SCOTT LANDFILL MO, LLC

ENVOTECH-ILLINOIS L.L.C.

EVERGREEN SCAVENGER SERVICE, L.L.C.

FLINT HILL ROAD, LLC

FOREST VIEW LANDFILL, LLC

FRONTIER WASTE SERVICES (COLORADO), LLC

FRONTIER WASTE SERVICES (UTAH), LLC

FRONTIER WASTE SERVICES OF LOUISIANA L.L.C.

GATEWAY LANDFILL, LLC

GENERAL REFUSE SERVICE OF OHIO, L.L.C.

GREAT PLAINS LANDFILL OK, LLC

GREENRIDGE RECLAMATION, LLC

GREENRIDGE WASTE SERVICES, LLC

HANCOCK COUNTY DEVELOPMENT COMPANY, LLC

HARRISON COUNTY LANDFILL, LLC

JACKSON COUNTY LANDFILL, LLC

JEFFERSON CITY LANDFILL, LLC

JEFFERSON PARISH DEVELOPMENT COMPANY, LLC

KANDEL ENTERPRISES, LLC

LEE COUNTY LANDFILL SC, LLC

LEMONS LANDFILL, LLC

LIBERTY WASTE SERVICES LIMITED, L.L.C.

LIBERTY WASTE SERVICES OF ILLINOIS, L.L.C.

LIBERTY WASTE SERVICES OF McCOOK, L.L.C.

LITTLE CREEK LANDING, LLC

LOCAL SANITATION OF ROWAN COUNTY, L.L.C.

LORAIN COUNTY LANDFILL, LLC

LUCAS COUNTY LANDFILL, LLC

MADISON COUNTY DEVELOPMENT, LLC

MENANDS ENVIRONMENTAL SOLUTIONS, LLC

MISSOURI CITY LANDFILL, LLC

N LEASING COMPANY, LLC

NEW YORK WASTE SERVICES, LLC

NORTHEAST LANDFILL, LLC

OBSCURITY LAND DEVELOPMENT, LLC

OKLAHOMA CITY LANDFILL, L.L.C.

PACKERTON LAND COMPANY, L.L.C.

PINECREST LANDFILL OK, LLC

POLK COUNTY LANDFILL, LLC

	 	 	 	 	 	 	 

	By:	 	/s/ Edward A. Lang, III	 	 
	 	 	 	 	 
	Name:	 	Edward A. Lang, III
	Title:	 	As Treasurer of each of the foregoing Limited Liability Companies

Republic Services, Inc. — Amended and Restated Credit Agreement

Signature Page

 

 

PRINCE GEORGE’S COUNTY LANDFILL, LLC

REPUBLIC OHIO CONTRACTS, LLC

REPUBLIC SERVICES ENVIRONMENTAL, LLC

REPUBLIC SERVICES GROUP, LLC

REPUBLIC SERVICES OF ARIZONA HAULING, LLC

REPUBLIC SERVICES OF CALIFORNIA II, LLC

REPUBLIC SERVICES OF COLORADO HAULING, LLC

REPUBLIC SERVICES OF COLORADO I, LLC

REPUBLIC SERVICES OF GEORGIA GP, LLC

REPUBLIC SERVICES OF GEORGIA LP, LLC

REPUBLIC SERVICES OF INDIANA TRANSPORTATION, LLC

REPUBLIC SERVICES OF KENTUCKY, LLC

REPUBLIC SERVICES OF MICHIGAN HAULING, LLC

REPUBLIC SERVICES OF MICHIGAN I, LLC

REPUBLIC SERVICES OF MICHIGAN II, LLC

REPUBLIC SERVICES OF MICHIGAN III, LLC

REPUBLIC SERVICES OF MICHIGAN IV, LLC

REPUBLIC SERVICES OF MICHIGAN V, LLC

REPUBLIC SERVICES OF NEW JERSEY, LLC

REPUBLIC SERVICES OF NORTH CAROLINA, LLC

REPUBLIC SERVICES OF OHIO HAULING, LLC

REPUBLIC SERVICES OF OHIO I, LLC

REPUBLIC SERVICES OF OHIO II, LLC

REPUBLIC SERVICES OF OHIO III, LLC

REPUBLIC SERVICES OF OHIO IV, LLC

REPUBLIC SERVICES OF PENNSYLVANIA, LLC

REPUBLIC SERVICES OF SOUTH CAROLINA, LLC

REPUBLIC SERVICES OF SOUTHERN CALIFORNIA, LLC

REPUBLIC SERVICES OF VIRGINIA, LLC

REPUBLIC SERVICES OF WISCONSIN GP, LLC

REPUBLIC SERVICES OF WISCONSIN LP, LLC

REPUBLIC SERVICES VASCO ROAD, LLC

REPUBLIC WASTE SERVICES OF SOUTHERN CALIFORNIA, LLC

RITM, LLC

RUBBISH CONTROL, LLC

S LEASING COMPANY, LLC

SAN DIEGO LANDFILL SYSTEMS, LLC

SAND VALLEY HOLDINGS, L.L.C.

SHOW-ME LANDFILL, LLC

SOUTHEAST LANDFILL, LLC

ST. BERNARD PARISH DEVELOPMENT COMPANY, LLC

	 	 	 	 	 	 	 

	By:	 	/s/ Edward A. Lang, III	 	 
	 	 	 	 	 
	Name:	 	Edward A. Lang, III
	Title:	 	As Treasurer of each of the foregoing Limited Liability Companies

Republic Services, Inc. — Amended and Restated Credit Agreement

Signature Page

 

 

ST. JOSEPH LANDFILL, LLC

TOTAL ROLL-OFFS, L.L.C.

WAYNE COUNTY LAND DEVELOPMENT, LLC

WAYNE DEVELOPERS, LLC

WEBSTER PARISH LANDFILL, L.L.C.

WILLOW RIDGE LANDFILL, LLC

	 	 	 	 	 	 	 

	By:	 	/s/ Edward A. Lang, III	 	 
	 	 	 	 	 
	Name:	 	Edward A. Lang, III
	Title:	 	As Treasurer of each of the foregoing Limited Liability Companies

Republic Services, Inc. — Amended and Restated Credit Agreement

Signature Page

 

 

THE FOLLOWING LIMITED PARTNERSHIPS, AS GUARANTORS:

REPUBLIC SERVICES FINANCIAL, LIMITED PARTNERSHIP

	 	 	 	 	 

	By:

	 	REPUBLIC SILVER STATE DISPOSAL, 

INC., as General Partner	 	 
	 
	 	 	 	 
	By: 

Name:

	 	/s/ Edward A. Lang, III
 

Edward A. Lang, III
	 	 
	Title:

	 	Treasurer	 	 

REPUBLIC SERVICES OF FLORIDA, LIMITED PARTNERSHIP

	 	 	 	 	 

	By:

	 	REPUBLIC SERVICES OF FLORIDA GP, 

INC., as General Partner	 	 
	 
	 	 	 	 
	By: 

Name:

	 	/s/ Edward A. Lang, III
 

Edward A. Lang, III
	 	 
	Title:

	 	Treasurer	 	 

REPUBLIC SERVICES OF GEORGIA, LIMITED PARTNERSHIP

	 	 	 	 	 

	By:

	 	REPUBLIC SERVICES OF GEORGIA GP,

LLC, as General Partner	 	 
	 
	 	 	 	 
	By: 

Name:

	 	/s/ Edward A. Lang, III
 

Edward A. Lang, III
	 	 
	Title:

	 	Treasurer	 	 

REPUBLIC SERVICES OF INDIANA, LIMITED PARTNERSHIP

	 	 	 	 	 

	By:

	 	REPUBLIC SERVICES, INC., as General Partner	 	 
	 
	 	 	 	 
	By: 

Name:

	 	/s/ Edward A. Lang, III
 

Edward A. Lang, III
	 	 
	Title:

	 	Senior Vice President, Treasurer	 	 

Republic Services, Inc. — Amended and Restated Credit Agreement

Signature Page

 

 

REPUBLIC SERVICES OF WISCONSIN, LIMITED PARTNERSHIP

	 	 	 	 	 

	By:

	 	REPUBLIC SERVICES OF WISCONSIN

GP, LLC, as General Partner	 	 
	 
	 	 	 	 
	By: 

Name:

	 	/s/ Edward A. Lang, III
 

Edward A. Lang, III
	 	 
	Title:

	 	Treasurer	 	 

RWS TRANSPORT, L.P.

	 	 	 	 	 

	By:

	 	REPUBLIC WASTE SERVICES OF
TEXAS GP, INC., as General Partner	 	 
	 
	 	 	 	 
	By: 

Name:

	 	/s/ Edward A. Lang, III
 

Edward A. Lang, III
	 	 
	Title:

	 	Treasurer	 	 

REPUBLIC WASTE SERVICES OF TEXAS, LTD.

	 	 	 	 	 

	By:

	 	REPUBLIC WASTE SERVICES OF
TEXAS GP, INC., as General Partner	 	 
	 
	 	 	 	 
	By: 

Name:

	 	/s/ Edward A. Lang, III
 

Edward A. Lang, III
	 	 
	Title:

	 	Treasurer	 	 

Republic Services, Inc. — Amended and Restated Credit Agreement

Signature Page

 

 

ABILENE LANDFILL TX, LP

BFI TRANSFER SYSTEMS OF TEXAS, LP

BFI WASTE SERVICES OF INDIANA, LP

BFI WASTE SERVICES OF TEXAS, LP

BFI WASTE SYSTEMS OF INDIANA, LP

BLUE RIDGE LANDFILL TX, LP

BRENHAM TOTAL ROLL-OFFS, LP

CAMELOT LANDFILL TX, LP

CEFE LANDFILL TX, LP

CROW LANDFILL TX, L.P.

DESARROLLO DEL RANCHO LA GLORIA TX, LP

EL CENTRO LANDFILL, L.P.

ELLIS COUNTY LANDFILL TX, LP

FORT WORTH LANDFILL TX, LP

FRONTIER WASTE SERVICES, L.P.

GALVESTON COUNTY LANDFILL TX, LP

GILES ROAD LANDFILL TX, LP

GOLDEN TRIANGLE LANDFILL TX, LP

GREENWOOD LANDFILL TX, LP

GULF WEST LANDFILL TX, LP

ITASCA LANDFILL TX, LP

KERRVILLE LANDFILL TX, LP

LEWISVILLE LANDFILL TX, LP

MARS ROAD TX, LP

McCARTY ROAD LANDFILL TX, LP

MESQUITE LANDFILL TX, LP

MEXIA LANDFILL TX, LP

PANAMA ROAD LANDFILL, TX, L.P.

PINE HILL FARMS LANDFILL TX, LP

PLEASANT OAKS LANDFILL TX, LP

RIO GRANDE VALLEY LANDFILL TX, LP

ROYAL OAKS LANDFILL TX, LP

SOUTH CENTRAL TEXAS LAND CO. TX, LP

SOUTHWEST LANDFILL TX, LP

TESSMAN ROAD LANDFILL TX, LP

	 	 	 	 	 	 	 

	By:	 	Allied Waste Landfill Holdings, Inc., as General
Partner of the foregoing limited partnerships	 	 
	 
	 	 	 	 	 	 
	 

	 	By:

Name:
	 	/s/ Edward A. Lang, III
 

Edward A. Lang, III
	 	 
	 

	 	Title:
	 	Treasurer	 	 

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TURKEY CREEK LANDFILL TX, LP

VICTORIA LANDFILL TX, LP

WHISPERING PINES LANDFILL TX, LP

	 	 	 	 	 	 	 

	By:	 	Allied Waste Landfill Holdings, Inc., as General
Partner of the foregoing limited partnerships	 	 
	 
	 	 	 	 	 	 
	 

	 	By:

Name:
	 	/s/ Edward A. Lang, III
 

Edward A. Lang, III
	 	 
	 

	 	Title:
	 	Treasurer	 	 

BFI ENERGY SYSTEMS OF SOUTHEASTERN CONNECTICUT, LIMITED PARTNERSHIP

	 	 	 	 	 	 	 

	By:	 	BFI Energy Systems of Southeastern Connecticut, 

Inc., as General Partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:

Name:
	 	/s/ Edward A. Lang, III
 

Edward A. Lang, III
	 	 
	 

	 	Title:
	 	Treasurer	 	 

Republic Services, Inc. — Amended and Restated Credit Agreement

Signature Page

 

 

THE FOLLOWING GENERAL PARTNERSHIPS, AS GUARANTORS:

OCEANSIDE WASTE AND RECYCLING SERVICES

	 	 	 	 	 	 	 

	By:	 	REPUBLIC SERVICES, INC., Partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:

Name:
	 	/s/ Edward A. Lang, III
 

Edward A. Lang, III
	 	 
	 

	 	Title:
	 	Senior Vice President, Treasurer	 	 
	 
	 	 	 	 	 	 
	By:	 	ZAKAROFF SERVICES, Partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:

Name:
	 	/s/ Edward A. Lang, III
 

Edward A. Lang, III
	 	 
	 

	 	Title:
	 	Treasurer	 	 

BENTON COUNTY DEVELOPMENT COMPANY

CLINTON COUNTY LANDFILL PARTNERSHIP

COUNTY LINE LANDFILL PARTNERSHIP

ILLIANA DISPOSAL PARTNERSHIP

JASPER COUNTY DEVELOPMENT COMPANY PARTNERSHIP

KEY WASTE INDIANA PARTNERSHIP

LAKE COUNTY C & D DEVELOPMENT PARTNERSHIP

NEWTON COUNTY LANDFILL PARTNERSHIP

SPRINGFIELD ENVIRONMENTAL GENERAL PARTNERSHIP

TIPPECANOE COUNTY WASTE SERVICES PARTNERSHIP

WARRICK COUNTY DEVELOPMENT COMPANY

	 	 	 	 	 	 	 

	By:	 	Allied Waste North America, Inc., as General Partner 

of the foregoing general partnerships	 	 
	 
	 	 	 	 	 	 
	 

	 	By:

Name:
	 	/s/ Edward A. Lang, III
 

Edward A. Lang, III
	 	 
	 

	 	Title:
	 	Treasurer	 	 
	 
	 	 	 	 	 	 
	By:	 	Allied Waste Landfill Holdings, Inc., as General
Partner of the foregoing general partnerships	 	 
	 
	 	 	 	 	 	 
	 

	 	By:

Name:
	 	/s/ Edward A. Lang, III
 

Edward A. Lang, III
	 	 
	 

	 	Title:
	 	Treasurer	 	 

Republic Services, Inc. — Amended and Restated Credit Agreement

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BENSON VALLEY LANDFILL GENERAL PARTNERSHIP

BLUE RIDGE LANDFILL GENERAL PARTNERSHIP

GREEN VALLEY LANDFILL GENERAL PARTNERSHIP

MOREHEAD LANDFILL GENERAL PARTNERSHIP

	 	 	 	 	 	 	 

	By	 	Allied Waste North America, Inc., as General Partner 

of the foregoing general partnerships	 	 
	 
	 	 	 	 	 	 
	 

	 	By:

Name:
	 	/s/ Edward A. Lang, III
 

Edward A. Lang, III
	 	 
	 

	 	Title:
	 	Treasurer	 	 
	 
	 	 	 	 	 	 
	By:	 	Browning-Ferris Industries of Tennessee, Inc., as 

General Partner of the foregoing general partnerships	 	 
	 
	 	 	 	 	 	 
	 

	 	By:

Name:
	 	/s/ Edward A. Lang, III
 

Edward A. Lang, III
	 	 
	 

	 	Title:
	 	Treasurer	 	 

RABANCO COMPANIES

	 	 	 	 	 	 	 

	By	 	Rabanco, Ltd., as General Partner of the foregoing 

general partnership	 	 
	 
	 	 	 	 	 	 
	 

	 	By:

Name:
	 	/s/ Edward A. Lang, III
 

Edward A. Lang, III
	 	 
	 

	 	Title:
	 	Treasurer	 	 
	 
	 	 	 	 	 	 
	By:	 	Rabanco Recycling, Inc., as General Partner of the 

foregoing general partnership	 	 
	 
	 	 	 	 	 	 
	 

	 	By:

Name:
	 	/s/ Edward A. Lang, III
 

Edward A. Lang, III
	 	 
	 

	 	Title:
	 	Treasurer	 	 

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Signature Page

 

 

	 	 	 	 	 
	 	BANK OF AMERICA, N.A., as Administrative Agent

 	 
	 	By:  	/s/ Maria F. Maia
 	 
	 	Name:  Maria F. Maia 	 
	 	Title:  Managing Director 	 
	 

Republic Services, Inc. — Amended and Restated Credit Agreement

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	 	BANK OF AMERICA, N.A., as a Lender, Swing Line 
Lender and
L/C Issuer

 	 
	 	By:  	/s/ Maria F. Maia
 	 
	 	Name:  Maria F. Maia 	 
	 	Title:  Managing Director 	 
	 

Republic Services, Inc. — Amended and Restated Credit Agreement

Signature Page

 

 

	 	 	 	 	 
	 	JPMORGAN CHASE BANK, N.A., as a Lender

and L/C Issuer

 	 
	 	By:  	/s/ Anna C. Araya
 	 
	 	Name:  Anna C. Araya 	 
	 	Title:  Vice President 	 

Republic Services, Inc. — Amended and Restated Credit Agreement

Signature Page

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	WELLS FARGO BANK, NATIONAL ASSOCIATION, as a Lender and L/C Issuer

 	 
	 	By:  	/s/ Robert Krasnow
 	 
	 	Name:  Robert Krasnow 	 
	 	Title:  Sr. V.P. 	 

Republic Services, Inc. — Amended and Restated Credit Agreement

Signature Page

 

 

	 	 	 	 	 
	 	SUNTRUST BANK, as a Lender

 	 
	 	By:  	/s/ Baerbel Freudenthaler
 	 
	 	Name:  Baerbel Freudenthaler 	 
	 	Title:  Director 	 

Republic Services, Inc. — Amended and Restated Credit Agreement

Signature Page

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	BARCLAYS BANK PLC, as a Lender

 	 
	 	By:  	/s/ David Barton
 	 
	 	Name:  David Barton 	 
	 	Title:  Director 	 

Republic Services, Inc. — Amended and Restated Credit Agreement

Signature Page

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	COMPASS BANK, as a Lender

 	 
	 	By:  	/s/ Jason Goetz
 	 
	 	Name:  Jason Goetz 	 
	 	Title:  Vice President 	 

Republic Services, Inc. — Amended and Restated Credit Agreement

Signature Page

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	BNP PARIBAS, as a Lender

 	 
	 	By:  	/s/ Mike Shryock
 	 
	 	Name:  Mike Shryock 	 
	 	Title:  Managing Director 	 
	 
	 	 	 
	 	By:  	                                            /s/ Michael Pearce
 	 
	 	Name:  Michael Pearce 	 
	 	Title:  Managing Director 	 

Republic Services, Inc. — Amended and Restated Credit Agreement

Signature Page

 

 

	 	 	 	 	 
	 	CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH, 

as a Lender

 	 
	 	By:  	/s/ Jay Chall
 	 
	 	Name:  Jay Chall 	 
	 	Title:  Director 	 
	 
	 	 	 
	 	By:  	                                             /s/ Rahul Parmar
 	 
	 	Name:  Rahul Parmar 	 
	 	Title:  Associate 	 

Republic Services, Inc. — Amended and Restated Credit Agreement

Signature Page

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	DEUTSCHE BANK AG, NEW YORK BRANCH, as a Lender

 	 
	 	By:  	/s/ Frederick W. Laird
 	 
	 	Name:  Frederick W. Laird 	 
	 	Title:  Managing Director 	 
	 
	 	 	 
	 	By:  	                                             /s/ Ming K. Chu
 	 
	 	Name:  Ming K. Chu 	 
	 	Title:  Vice President 	 

Republic Services, Inc. — Amended and Restated Credit Agreement

Signature Page

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	GOLDMAN SACHS BANK USA, as a Lender

 	 
	 	By:  	/s/ Mark Walton
 	 
	 	Name:  Mark Walton 	 
	 	Title:  Authorized Signatory 	 

Republic Services, Inc. — Amended and Restated Credit Agreement

Signature Page

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	INTESA SANPAOLO, as a Lender

 	 
	 	By:  	/s/ Sergio Maggioni
 	 
	 	Name:  Sergio Maggioni 	 
	 	Title:  FVP and Head of Business 	 
	 
	 	 	 
	 	By:  	                                             /s/ Glen Binder
 	 
	 	Name:  Glen Binder 	 
	 	Title:  Vice President 	 

Republic Services, Inc. — Amended and Restated Credit Agreement

Signature Page

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	MIZUHO CORPORATE BANK, LTD., as a Lender

 	 
	 	By:  	/s/ Leon Mo
 	 
	 	Name:  Leon Mo 	 
	 	Title:  Senior Vice President 	 

Republic Services, Inc. — Amended and Restated Credit Agreement

Signature Page

 

 

	 	 	 	 	 
	 	THE ROYAL BANK OF SCOTLAND PLC, as a Lender

 	 
	 	By:  	/s/ James Welch
 	 
	 	Name:  James Welch 	 
	 	Title:  Director 	 

Republic Services, Inc. — Amended and Restated Credit Agreement

Signature Page

 

 

	 	 	 	 	 
	 	THE BANK OF NOVA SCOTIA, as a Lender

 	 
	 	By:  	/s/ John Mathews
 	 
	 	Name:  John Mathews 	 
	 	Title:  Director 	 

Republic Services, Inc. — Amended and Restated Credit Agreement

Signature Page

 

 

	 	 	 	 	 
	 	U.S. BANK, NATIONAL ASSOCIATION, as a Lender

 	 
	 	By:  	/s/ Blake Malia
 	 
	 	Name:  Blake Malia 	 
	 	Title:  Vice President 	 

Republic Services, Inc. — Amended and Restated Credit Agreement

Signature Page

 

 

	 	 	 	 	 
	 	UBS LOAN FINANCE LLC, as a Lender

 	 
	 	By:  	/s/ Mary E. Evans
 	 
	 	Name:  Mary E. Evans 	 
	 	Title:  Associate Director 	 
	 
	 	 	 
	 	By:  	                                             /s/ April Varner-Nanton
 	 
	 	Name:  April Varner-Nanton 	 
	 	Title:  Director 	 

Republic Services, Inc. — Amended and Restated Credit Agreement

Signature Page

 

 

	 	 	 	 	 
	 	BRANCH BANKING AND TRUST COMPANY, as a Lender

 	 
	 	By:  	/s/ Mark B. Grover
 	 
	 	Name:  Mark B. Grover 	 
	 	Title:  Senior Vice President 	 

Republic Services, Inc. — Amended and Restated Credit Agreement

Signature Page

 

 

	 	 	 	 	 
	 	SUMITOMO MITSUI BANKING CORPORATION, 

as a Lender

 	 
	 	By:  	/s/ William M. Ginn
 	 
	 	Name:  William M. Ginn 	 
	 	Title:  Managing Director 	 

Republic Services, Inc. — Amended and Restated Credit Agreement

Signature Page

 

 

	 	 	 	 	 
	 	RBC BANK (USA), as a Lender

 	 
	 	By:  	/s/ Richard Marshall
 	 
	 	Name:  Richard Marshall 	 
	 	Title:  Market Executive — National Division 	 

Republic Services, Inc. — Amended and Restated Credit Agreement

Signature Page

 

 

	 	 	 	 	 
	 	THE BANK OF NEW YORK MELLON, as a Lender

 	 
	 	By:  	/s/ Paul F. Noel
 	 
	 	Name:  Paul F. Noel 	 
	 	Title:  Managing Director 	 

Republic Services, Inc. — Amended and Restated Credit Agreement

Signature Page

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	COBANK, ACB, as a Lender

 	 
	 	By:  	/s/ Bryan Ervin
 	 
	 	Name:  Bryan Ervin 	 
	 	Title:  Vice President 	 

Republic Services, Inc. — Amended and Restated Credit Agreement

Signature Page

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	COMERICA BANK, as a Lender

 	 
	 	By:  	/s/ Fatima Arshad
 	 
	 	Name:  Fatima Arshad 	 
	 	Title:  Vice President 	 

Republic Services, Inc. — Amended and Restated Credit Agreement

Signature Page

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	MACQUAIRE BANK LIMITED, as a Lender

 	 
	 	By:  	/s/ Stephen Bower
 	 
	 	Name:  Stephen Bower 	 
	 	Title:  Associate Director 	 
	 
	 	 	 
	 	By:  	                                             /s/ Katie Choi
 	 
	 	Name:  Katie Choi 	 
	 	Title:  Division Director — Macquaire Bank Limited 	 

Republic Services, Inc. — Amended and Restated Credit Agreement

Signature Page

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	PNC BANK, NATIONAL ASSOCIATION,

as a Lender

 	 
	 	By:  	/s/ Philip K. Liebscher
 	 
	 	Name:  Philip K. Liebscher 	 
	 	Title:  Senior Vice President 	 

Republic Services, Inc. — Amended and Restated Credit Agreement

Signature Page

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	UNION BANK, N.A., as a Lender

 	 
	 	By:  	/s/ Jeffrey Duncan
 	 
	 	Name:  Jeffrey Duncan 	 
	 	Title:  Vice President 	 

Republic Services, Inc. — Amended and Restated Credit Agreement

Signature Page

 

 

	 	 	 	 	 
	 	THE BANK OF TOKYO-MITSUBISHI UFJ, LTD., 

NEW YORK BRANCH, as a Lender

 	 
	 	By:  	/s/ Victor Pierzchalski
 	 
	 	Name:  Victor Pierzchalski 	 
	 	Title:  Authorized Signatory 	 

Republic Services, Inc. — Amended and Restated Credit Agreement

Signature Page

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	ROYAL BANK OF CANADA, as a Lender

 	 
	 	By:  	/s/ Scott Umbs
 	 
	 	Name:  Scott Umbs 	 
	 	Title:  Authorized Signatory 	 

Republic Services, Inc. — Amended and Restated Credit Agreement

Signature Page

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	UNICREDIT SpA, NEW YORK BRANCH, as a Lender

 	 
	 	By:  	/s/ Patricia M. Tresnan
 	 
	 	Name:  Patricia M. Tresnan 	 
	 	Title:  Managing Director 	 
	 
	 	 	 
	 	By:  	                                            /s/ Luca Balestra
 	 
	 	Name:  Luca Balestra 	 
	 	Title:  First Vice President 	 
	 

Republic Services, Inc. — Amended and Restated Credit Agreement

Signature Page

 

 

SCHEDULE 1.01(a)

ALLIED UNRESTRICTED SUBSIDIARIES

Global Indemnity Assurance Company

Saguaro National Captive Insurance Company

Allied Receivables Funding Incorporated

Browning — Ferris Industries Trans River (LP), Inc. (a/k/a BFI Trans River (LP), Inc.)

Consolidated Processing, Inc.

S-1

 

SCHEDULE 1.01(b)

EXCLUDED SUBSIDIARIES

Allied Waste of Ponce, Inc.

Allied Waste of Puerto Rico, Inc.

Environmental Development Corp.

Kent-Meridian Disposal Company

Roosevelt Associates

Continental Waste Industries-Gary, Inc.

Modern Mallard Energy, LLC

Prichard Landfill Corporation

Global Indemnity Assurance Company

Saguaro National Captive Insurance Company

Allied Receivables Funding Incorporated

Browning — Ferris Industries Trans River (LP), Inc. (a/k/a BFI Trans River (LP), Inc.)

Consolidated Processing, Inc.

Bom Ambiente, Ltd.

Republic Services Risk Management, Inc.

RSG Cayman Group, Inc.

S-2

 

SCHEDULE 1.01(c)

L/C ISSUERS

Bank of America, N.A.

JPMorgan Chase Bank, N.A.

Wells Fargo Bank National Association

S-3

 

SCHEDULE 2.01

COMMITMENTS AND

APPLICABLE PERCENTAGES

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Applicable	 
	Lender	 	Commitment	 	 	Percentage	 
	Bank of America, N.A.
	 	$	100,000,000	 	 	 	8.000000000	%
	JPMorgan Chase Bank, N.A.
	 	$	100,000,000	 	 	 	8.000000000	%
	Wells Fargo Bank, National Association
	 	$	100,000,000	 	 	 	8.000000000	%
	SunTrust Bank
	 	$	75,000,000	 	 	 	6.000000000	%
	Barclays Bank Plc
	 	$	75,000,000	 	 	 	6.000000000	%
	Compass Bank
	 	$	45,000,000	 	 	 	3.600000000	%
	BNP Paribas
	 	$	45,000,000	 	 	 	3.600000000	%
	Credit Suisse AG, Cayman Islands Branch
	 	$	45,000,000	 	 	 	3.600000000	%
	Deutsche Bank AG, New York Branch
	 	$	45,000,000	 	 	 	3.600000000	%
	Goldman Sachs Bank USA
	 	$	45,000,000	 	 	 	3.600000000	%
	Intesa SanPaolo
	 	$	45,000,000	 	 	 	3.600000000	%
	Mizuho Corporate Bank, Ltd.
	 	$	45,000,000	 	 	 	3.600000000	%
	The Royal Bank of Scotland Plc
	 	$	45,000,000	 	 	 	3.600000000	%
	The Bank of Nova Scotia
	 	$	45,000,000	 	 	 	3.600000000	%
	U.S. Bank National Association
	 	$	45,000,000	 	 	 	3.600000000	%
	UBS Loan Finance LLC
	 	$	45,000,000	 	 	 	3.600000000	%
	Branch Banking and Trust Company
	 	$	40,000,000	 	 	 	3.200000000	%
	Sumitomo Mitsui Banking Corporation
	 	$	40,000,000	 	 	 	3.200000000	%
	RBC Bank (USA)
	 	$	30,000,000	 	 	 	2.400000000	%
	The Bank of New York Mellon
	 	$	25,000,000	 	 	 	2.000000000	%
	CoBank, ACB
	 	$	25,000,000	 	 	 	2.000000000	%
	Comerica Bank
	 	$	25,000,000	 	 	 	2.000000000	%
	Macquaire Bank Limited
	 	$	25,000,000	 	 	 	2.000000000	%
	PNC Bank, National Association
	 	$	25,000,000	 	 	 	2.000000000	%
	Union Bank, N.A.
	 	$	25,000,000	 	 	 	2.000000000	%
	The Bank of Tokyo-Mitsubishi UFJ, Ltd., New York Branch
	 	$	15,000,000	 	 	 	1.200000000	%
	Royal Bank of Canada
	 	$	15,000,000	 	 	 	1.200000000	%
	UniCredit SpA, New York Branch
	 	$	15,000,000	 	 	 	1.200000000	%
	 
	 	 	 	 	 	 
	Total
	 	$	1,250,000,000	 	 	 	100.000000000	%
	 
	 	 	 	 	 	 

S-4

 

SCHEDULE 2.03

EXISTING LETTERS OF CREDIT

See attached.

S-5

 

Republic Services, Inc.

L/Cs issued by Bank of America, N.A.

As of April 11, 2011

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	Issue	 	 	 	 	 	 	 	 	 	 	 
	Type	 	LOC #	 	Date	 	Exp Date	 	Applicant Name	 	Beneficiary Name	 	Curr	 	Liability US$	 
	SBYPER
	 	1396754	 	4/1/2005	 	6/1/2011	 	WEST COUNTY LANDFILL	 	DEPT. OF TOXIC SUBST	 	USD	 	$	31,197,586.00	 
	SBYPER
	 	1396756	 	4/1/2005	 	12/1/2011	 	REPUBLIC SERVICES IN	 	BOM AMBIENTE	 	USD	 	$	12,500,000.00	 
	SBYFIN
	 	3029662	 	9/28/2000	 	9/28/2011	 	REPUBLIC SERVICES IN	 	THE BANK OF NEW YORK	 	USD	 	$	5,579,110.00	 
	SBYFIN
	 	3035419	 	4/27/2001	 	4/27/2011	 	REPUBLIC SERVICES IN	 	THE BANK OF NEW YORK	 	USD	 	$	3,540,274.00	 
	SBYFIN
	 	3035420	 	4/27/2001	 	4/27/2011	 	REPUBLIC SERVICES IN	 	THE BANK OF NEW YORK	 	USD	 	$	4,046,028.00	 
	SBYFIN
	 	3039209	 	8/1/2001	 	12/1/2011	 	REPUBLIC SERVICES IN	 	BNY WESTERN TRUST CO	 	USD	 	$	3,891,928.47	 
	SBYFIN
	 	3040182	 	9/6/2001	 	12/1/2011	 	REPUBLIC SERVICES IN	 	THE BANK OF NEW YORK	 	USD	 	$	10,115,069.00	 
	SBYPER
	 	64039402	 	4/1/2005	 	4/6/2012	 	REPUBLIC SERVICES IN	 	OHIO ENVIRONMENTAL P	 	USD	 	$	21,721,157.00	 
	SBYPER
	 	64039406	 	4/11/2005	 	10/1/2011	 	REPUBLIC WASTE SERVI	 	CITY OF ARLINGTON, T	 	USD	 	$	11,447,855.00	 
	SBYPER
	 	64039409	 	4/28/2005	 	4/27/2011	 	HONEYGO RUN RECLAMAT	 	BALTIMORE COUNTY, MA	 	USD	 	$	30,000.00	 
	SBYPER
	 	64039410	 	4/28/2005	 	4/27/2011	 	HONEYGO RUN RECLAMAT	 	BALTIMORE COUNTY, MA	 	USD	 	$	1,000,000.00	 
	SBYPER
	 	64039411	 	4/28/2005	 	4/27/2011	 	HONEYGO RUN RECLAMAT	 	MARYLAND DEPARTMENT	 	USD	 	$	57,500.00	 
	SBYFIN
	 	64039413	 	7/14/2008	 	6/17/2011	 	REPUBLIC SERVICES IN	 	ZURICH AMERICAN INSU	 	USD	 	$	56,200,000.00	 
	SBYFIN
	 	64039416	 	7/18/2008	 	6/17/2011	 	REPUBLIC SERVICES IN	 	WISCONSIN DEPT NATUR	 	USD	 	$	4,005,503.70	 
	SBYPER
	 	64039417	 	11/18/2008	 	11/11/2011	 	REPUBLIC SERVICES IN	 	LOUISVILLE-JEFFERSON	 	USD	 	$	5,000.00	 
	SBYPER
	 	64039418	 	1/9/2009	 	1/9/2012	 	CONSOLIDATED DISPOSA	 	CITY OF SANTA CLARIT	 	USD	 	$	20,000.00	 
	SBYFIN
	 	64039420	 	1/22/2009	 	1/20/2012	 	REPUBLIC SERVICES IN	 	STATE OF WISCONSIN	 	USD	 	$	8,952,268.00	 
	SBYPER
	 	64039423	 	2/5/2010	 	2/5/2012	 	HONEYGO RUN RECLAMAT	 	BALTIMORE COUNTY, MA	 	USD	 	$	76,119.00	 
	SBYPER
	 	64039424	 	2/5/2010	 	2/5/2012	 	HONEYGO RUN RECLAMAT	 	BALTIMORE COUNTY, MA	 	USD	 	$	13,670.00	 
	SBYPER
	 	64039425	 	2/5/2010	 	2/5/2012	 	HONEYGO RUN RECLAMAT	 	BALTIMORE COUNTY, MA	 	USD	 	$	30,000.00	 
	SBYFIN
	 	64039426	 	8/4/2010	 	7/31/2011	 	CONSOLIDATED DISPOSA	 	CITY OF HAWTHORNE	 	USD	 	$	24,358.00	 
	SBYFIN
	 	68028571	 	9/2/2008	 	9/2/2011	 	REPUBLIC SERVICES IN	 	UNION BANK OF CALIFO	 	USD	 	$	13,149,590.00	 
	SBYFIN
	 	68028572	 	9/2/2008	 	9/2/2011	 	REPUBLIC SERVICES IN	 	UNION BANK OF CALIFO	 	USD	 	$	30,345,206.00	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	TOTAL	 	 	 	$	217,948,222.17	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

S-6

 

L/Cs issued by JPMorgan Chase Bank, N.A.

	 	 	 	 	 	 	 	 	 
	JPM	 	 	 	 	 	 
	Reference	 	Liab Outstanding	 	Expiry / Maturity	 	 
	Number	 	Amount	 	Date	 	Beneficiary
	S-689575

	 	$	18,254,466.00	 	 	OCT 01, 2011
	 	WELLS FARGO BANK, NATIONAL
	S-635288

	 	$	400,000.00	 	 	APR 23, 2012
	 	HARTFORD FIRE INSURANCE COMPANY
	S-635297

	 	$	10,000.00	 	 	FEB 04, 2012
	 	STAFFORD COUNTY VIRGINIA
	S-635307

	 	$	5,000.00	 	 	DEC 21, 2011
	 	CITY OF CHICAGO
	S-635309

	 	$	10,000.00	 	 	MAR 01, 2012
	 	PENNSYLVANIA DEPT OF ENVIRONMENTAL
	S-635311

	 	$	27,410,000.00	 	 	AUG 16, 2011
	 	ACE USA
	S-635314

	 	$	8,392,233.00	 	 	APR 08, 2012
	 	THE AMERICAN HOME ASSURANCE CO
	S-799991

	 	$	30,345,206.00	 	 	SEP 16, 2011
	 	WELLS FARGO BANK, NATIONAL

S-7

 

Letters of Credit issued by Wells Fargo Bank, National Association

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Issue	 	 	 	 	 	 	 	 	 	 
	LOC #	 	Date	 	Exp Date	 	Applicant Name	 	Beneficiary Name	 	Curr	 	Liability US$
	SM422691W

	 	 	2001.10.10	 	 	 	2011.0.06	 	 	Browning Ferris
Indus.
	 	Georgia Self Ins.
Guaranty Fund
	 	US$
	 	$	175,000.00	 
	644184

	 	 	2009.08.03	 	 	 	2011.08.16	 	 	Republic Services Inc
	 	U.S. Bank National
Association
	 	US$
	 	$	5,903,288.00	 
	645633

	 	 	2009.09.02	 	 	 	2011.09.16	 	 	Republic Services Inc
	 	U.S. Bank National
Association
	 	US$
	 	$	24,191,233.00	 
	645635

	 	 	2009.09.02	 	 	 	2011.09.16	 	 	Republic Services Inc
	 	U.S. Bank National
Association
	 	US$
	 	$	21,091,096.00	 

S-8

 

SCHEDULE 5.07

ERISA MATTERS

None.

S-9

 

SCHEDULE 5.12

ENVIRONMENTAL

None.

S-10

 

SCHEDULE 5.16

SUBSIDIARIES AND MINORITY INTERESTS

623 LANDFILL, INC.

A D A J CORPORATION

AGRICULTURAL ACQUISITIONS, LLC

ARC DISPOSAL COMPANY, INC.

ARIANA, LLC

ATLAS TRANSPORT, INC.

BARKER BROTHERS WASTE, INCORPORATED

BAY COLLECTION SERVICES, INC.

BAY ENVIRONMENTAL MANAGEMENT, INC.

BAY LANDFILLS, INC.

BAY LEASING COMPANY, INC.

BERKELEY SANITARY SERVICE, INC.

BLT ENTERPRISES OF OXNARD, INC.

CALVERT TRASH SYSTEMS, INCORPORATED

CENTRAL VIRGINIA PROPERTIES, LLC

COMPACTOR RENTAL SYSTEMS OF DELAWARE, INC.

CONSOLIDATED DISPOSAL SERVICE, L.L.C.

CONTINENTAL WASTE INDUSTRIES, L.L.C.

CROCKETT SANITARY SERVICE, INC.

CWI OF ILLINOIS, INC.

CWI OF MISSOURI, INC.

ENVIROCYCLE, INC.

FLL, INC.

GOLDEN BEAR TRANSFER SERVICES, INC.

HONEYGO RUN RECLAMATION CENTER, INC.

McCUSKER RECYCLING, INC.

NORTHWEST TENNESSEE DISPOSAL CORPORATION

OCEANSIDE WASTE & RECYCLING SERVICES

OHIO REPUBLIC CONTRACTS, II, INC.

OHIO REPUBLIC CONTRACTS, INC.

PERDOMO & SONS, INC.

RELIABLE DISPOSAL, INC.

REPUBLIC DUMPCO, INC.

REPUBLIC ENVIRONMENTAL TECHNOLOGIES, INC.

REPUBLIC OHIO CONTRACTS, LLC

REPUBLIC SERVICES AVIATION, INC.

REPUBLIC SERVICES ENVIRONMENTAL, LLC

REPUBLIC SERVICES FINANCIAL LP, INC.

REPUBLIC SERVICES FINANCIAL, LIMITED PARTNERSHIP

REPUBLIC SERVICES GROUP, LLC

REPUBLIC SERVICES HOLDING COMPANY, INC.

S-11

 

REPUBLIC SERVICES OF ARIZONA HAULING, LLC

REPUBLIC SERVICES OF CALIFORNIA HOLDING COMPANY, INC.

REPUBLIC SERVICES OF CALIFORNIA II, LLC

REPUBLIC SERVICES OF COLORADO HAULING, LLC

REPUBLIC SERVICES OF COLORADO I, LLC

REPUBLIC SERVICES OF FLORIDA GP, INC.

REPUBLIC SERVICES OF FLORIDA LP, INC.

REPUBLIC SERVICES OF FLORIDA, LIMITED PARTNERSHIP

REPUBLIC SERVICES OF GEORGIA GP, LLC

REPUBLIC SERVICES OF GEORGIA LP, LLC

REPUBLIC SERVICES OF GEORGIA, LIMITED PARTNERSHIP

REPUBLIC SERVICES OF INDIANA LP, INC.

REPUBLIC SERVICES OF INDIANA TRANSPORTATION, LLC

REPUBLIC SERVICES OF INDIANA, LIMITED PARTNERSHIP

REPUBLIC SERVICES OF KENTUCKY, LLC

REPUBLIC SERVICES OF MICHIGAN HAULING, LLC

REPUBLIC SERVICES OF MICHIGAN HOLDING COMPANY, INC.

REPUBLIC SERVICES OF MICHIGAN I, LLC

REPUBLIC SERVICES OF MICHIGAN II, LLC

REPUBLIC SERVICES OF MICHIGAN III, LLC

REPUBLIC SERVICES OF MICHIGAN IV, LLC

REPUBLIC SERVICES OF MICHIGAN V, LLC

REPUBLIC SERVICES OF NEW JERSEY, LLC

REPUBLIC SERVICES OF NORTH CAROLINA, LLC

REPUBLIC SERVICES OF OHIO HAULING, LLC

REPUBLIC SERVICES OF OHIO I, LLC

REPUBLIC SERVICES OF OHIO II, LLC

REPUBLIC SERVICES OF OHIO III, LLC

REPUBLIC SERVICES OF OHIO IV, LLC

REPUBLIC SERVICES OF PENNSYLVANIA, LLC

REPUBLIC SERVICES OF SOUTH CAROLINA, LLC

REPUBLIC SERVICES OF SOUTHERN CALIFORNIA, LLC

REPUBLIC SERVICES OF VIRGINIA, LLC

REPUBLIC SERVICES OF WISCONSIN GP, LLC

REPUBLIC SERVICES OF WISCONSIN LP, LLC

REPUBLIC SERVICES OF WISCONSIN, LIMITED PARTNERSHIP

REPUBLIC SERVICES REAL ESTATE HOLDING, INC.

REPUBLIC SERVICES VASCO ROAD, LLC

REPUBLIC SILVER STATE DISPOSAL, INC.

REPUBLIC WASTE SERVICES OF SOUTHERN CALIFORNIA, LLC

REPUBLIC WASTE SERVICES OF TEXAS GP, INC.

REPUBLIC WASTE SERVICES OF TEXAS LP, INC.

REPUBLIC WASTE SERVICES OF TEXAS, LTD.

RI/ALAMEDA CORP.

RICHMOND SANITARY SERVICE, INC.

RITM, LLC

S-12

 

RUBBISH CONTROL, L.L.C.

RWS TRANSPORT, L.P.

SANDY HOLLOW LANDFILL CORP.

SCHOFIELD CORPORATION OF ORLANDO

SOLANO GARBAGE COMPANY

SOUTHERN ILLINOIS REGIONAL LANDFILL, INC.

TAY-BAN CORPORATION

TRI-COUNTY REFUSE SERVICE, INC.

WAYNE DEVELOPERS, LLC

WEST CONTRA COSTA ENERGY RECOVERY COMPANY

WEST CONTRA COSTA SANITARY LANDFILL, INC.

WEST COUNTY LANDFILL, INC.

WEST COUNTY RESOURCE RECOVERY, INC.

ZAKAROFF SERVICES

S-13

 

ABILENE LANDFILL TX, LP

ACTION DISPOSAL, INC.

ADA COUNTY DEVELOPMENT COMPANY, INC.

ADRIAN LANDFILL, INC.

ADS OF ILLINOIS, INC.

ADS, INC.

AGRI-TECH, INC. OF OREGON

ALABAMA RECYCLING SERVICES, INC.

ALBANY-LEBANON SANITATION, INC.

ALLIED ACQUISITION PENNSYLVANIA, INC.

ALLIED ACQUISITION TWO, INC.

ALLIED ENVIROENGINEERING, INC.

ALLIED GAS RECOVERY SYSTEMS, L.L.C.

ALLIED GREEN POWER, INC.

ALLIED NOVA SCOTIA, INC.

ALLIED SERVICES, LLC

ALLIED TRANSFER SYSTEMS OF NEW JERSEY, LLC

ALLIED WASTE ALABAMA, INC.

ALLIED WASTE COMPANY, INC.

ALLIED WASTE ENVIRONMENTAL MANAGEMENT GROUP, LLC

ALLIED WASTE HAULING OF GEORGIA, INC.

ALLIED WASTE HOLDINGS (CANADA) LTD.

ALLIED WASTE INDUSTRIES (ARIZONA), INC.

ALLIED WASTE INDUSTRIES (NEW MEXICO), INC.

ALLIED WASTE INDUSTRIES (SOUTHWEST), INC.

ALLIED WASTE INDUSTRIES OF GEORGIA, INC.

ALLIED WASTE INDUSTRIES OF ILLINOIS, INC.

ALLIED WASTE INDUSTRIES OF NORTHWEST INDIANA, INC.

ALLIED WASTE INDUSTRIES OF TENNESSEE, INC.

ALLIED WASTE INDUSTRIES, INC.

ALLIED WASTE LANDFILL HOLDINGS, INC.

ALLIED WASTE NIAGARA FALLS LANDFILL, LLC

ALLIED WASTE NORTH AMERICA, INC.

ALLIED WASTE OF CALIFORNIA, INC.

ALLIED WASTE OF LONG ISLAND, INC.

ALLIED WASTE OF NEW JERSEY, INC.

ALLIED WASTE OF NEW JERSEY-NEW YORK, LLC

ALLIED WASTE RECYCLING SERVICES OF NEW HAMPSHIRE, LLC

ALLIED WASTE RURAL SANITATION, INC.

ALLIED WASTE SERVICES OF COLORADO, INC.

ALLIED WASTE SERVICES OF MASSACHUSETTS, LLC

ALLIED WASTE SERVICES OF NORTH AMERICA, LLC

ALLIED WASTE SERVICES OF PAGE, INC.

ALLIED WASTE SERVICES OF STILLWATER, INC.

ALLIED WASTE SYCAMORE LANDFILL, LLC

S-14

 

ALLIED WASTE SYSTEMS HOLDINGS, INC.

ALLIED WASTE SYSTEMS OF ARIZONA, LLC

ALLIED WASTE SYSTEMS OF COLORADO, LLC

ALLIED WASTE SYSTEMS OF INDIANA, LLC

ALLIED WASTE SYSTEMS OF MICHIGAN, LLC

ALLIED WASTE SYSTEMS OF MONTANA, LLC

ALLIED WASTE SYSTEMS OF NEW JERSEY, LLC

ALLIED WASTE SYSTEMS OF NORTH CAROLINA, LLC

ALLIED WASTE SYSTEMS OF PENNSYLVANIA, LLC

ALLIED WASTE SYSTEMS, INC.

ALLIED WASTE TRANSFER SERVICES OF ARIZONA, LLC

ALLIED WASTE TRANSFER SERVICES OF CALIFORNIA, LLC

ALLIED WASTE TRANSFER SERVICES OF FLORIDA, LLC

ALLIED WASTE TRANSFER SERVICES OF IOWA, LLC

ALLIED WASTE TRANSFER SERVICES OF LIMA, LLC

ALLIED WASTE TRANSFER SERVICES OF NEW YORK, LLC

ALLIED WASTE TRANSFER SERVICES OF NORTH CAROLINA, LLC

ALLIED WASTE TRANSFER SERVICES OF OREGON, LLC

ALLIED WASTE TRANSFER SERVICES OF RHODE ISLAND, LLC

ALLIED WASTE TRANSFER SERVICES OF UTAH, INC.

ALLIED WASTE TRANSPORTATION, INC.

AMERICAN DISPOSAL SERVICES OF ILLINOIS, INC.

AMERICAN DISPOSAL SERVICES OF KANSAS, INC.

AMERICAN DISPOSAL SERVICES OF MISSOURI, INC.

AMERICAN DISPOSAL SERVICES OF NEW JERSEY, INC.

AMERICAN DISPOSAL SERVICES OF WEST VIRGINIA, INC.

AMERICAN DISPOSAL SERVICES, INC.

AMERICAN DISPOSAL TRANSFER SERVICES OF ILLINOIS, INC.

AMERICAN MATERIALS RECYCLING CORP.

AMERICAN SANITATION, INC.

AMERICAN TRANSFER COMPANY, INC.

ANSON COUNTY LANDFILL NC, LLC

APACHE JUNCTION LANDFILL CORPORATION

AREA DISPOSAL, INC.

ATLANTIC WASTE HOLDING COMPANY, INC.

ATTWOODS OF NORTH AMERICA, INC.

AUTAUGA COUNTY LANDFILL, LLC

AUTOMATED MODULAR SYSTEMS, INC.

AUTOSHRED, INC.

AWIN LEASING COMPANY, INC.

AWIN LEASING II, LLC

AWIN MANAGEMENT, INC.

BBCO, INC.

BELLEVILLE LANDFILL, INC.

BENSON VALLEY LANDFILL GENERAL PARTNERSHIP

BENTON COUNTY DEVELOPMENT COMPANY

S-15

 

BFGSI, L.L.C.

BFI ATLANTIC, INC.

BFI ENERGY SYSTEMS OF ALBANY, INC.

BFI ENERGY SYSTEMS OF DELAWARE COUNTY, INC.

BFI ENERGY SYSTEMS OF ESSEX COUNTY, INC.

BFI ENERGY SYSTEMS OF HEMPSTEAD, INC.

BFI ENERGY SYSTEMS OF NIAGARA II, INC.

BFI ENERGY SYSTEMS OF NIAGARA, INC.

BFI ENERGY SYSTEMS OF SEMASS, INC.

BFI ENERGY SYSTEMS OF SOUTHEASTERN CONNECTICUT, INC.

BFI ENERGY SYSTEMS OF SOUTHEASTERN CONNECTICUT, LIMITED PARTNERSHIP

BFI REF-FUEL, INC.

BFI TRANS RIVER (GP), INC.

BFI TRANSFER SYSTEMS OF ALABAMA, LLC

BFI TRANSFER SYSTEMS OF DC, LLC

BFI TRANSFER SYSTEMS OF GEORGIA, LLC

BFI TRANSFER SYSTEMS OF MARYLAND, LLC

BFI TRANSFER SYSTEMS OF MASSACHUSETTS, LLC

BFI TRANSFER SYSTEMS OF MISSISSIPPI, LLC

BFI TRANSFER SYSTEMS OF NEW JERSEY, INC.

BFI TRANSFER SYSTEMS OF PENNSYLVANIA, LLC

BFI TRANSFER SYSTEMS OF TEXAS, LP

BFI TRANSFER SYSTEMS OF VIRGINIA, LLC

BFI WASTE SERVICES OF INDIANA, LP

BFI WASTE SERVICES OF PENNSYLVANIA, LLC

BFI WASTE SERVICES OF TENNESSEE, LLC

BFI WASTE SERVICES OF TEXAS, LP

BFI WASTE SERVICES, LLC

BFI WASTE SYSTEMS OF ALABAMA, LLC

BFI WASTE SYSTEMS OF ARKANSAS, LLC

BFI WASTE SYSTEMS OF GEORGIA, LLC

BFI WASTE SYSTEMS OF INDIANA, LP

BFI WASTE SYSTEMS OF KENTUCKY, LLC

BFI WASTE SYSTEMS OF LOUISIANA, LLC

BFI WASTE SYSTEMS OF MASSACHUSETTS, LLC

BFI WASTE SYSTEMS OF MISSISSIPPI, LLC

BFI WASTE SYSTEMS OF MISSOURI, LLC

BFI WASTE SYSTEMS OF NEW JERSEY, INC.

BFI WASTE SYSTEMS OF NORTH AMERICA, LLC

BFI WASTE SYSTEMS OF NORTH CAROLINA, LLC

BFI WASTE SYSTEMS OF OKLAHOMA, LLC

BFI WASTE SYSTEMS OF SOUTH CAROLINA, LLC

BFI WASTE SYSTEMS OF TENNESSEE, LLC

BFI WASTE SYSTEMS OF VIRGINIA, LLC

BIO-MED OF OREGON, INC.

S-16

 

BLUE RIDGE LANDFILL GENERAL PARTNERSHIP

BLUE RIDGE LANDFILL TX, LP

BOND COUNTY LANDFILL, INC.

BORREGO LANDFILL, INC.

BORROW PIT CORP.

BRENHAM TOTAL ROLL-OFFS, LP

BRICKYARD DISPOSAL & RECYCLING, INC.

BRIDGETON LANDFILL, LLC

BRIDGETON TRANSFER STATION, LLC

BROWNING-FERRIS INDUSTRIES CHEMICAL SERVICES, INC.

BROWNING-FERRIS INDUSTRIES OF CALIFORNIA, INC.

BROWNING-FERRIS INDUSTRIES OF FLORIDA, INC.

BROWNING-FERRIS INDUSTRIES OF ILLINOIS, INC.

BROWNING-FERRIS INDUSTRIES OF NEW JERSEY, INC.

BROWNING-FERRIS INDUSTRIES OF NEW YORK, INC.

BROWNING-FERRIS INDUSTRIES OF OHIO, INC.

BROWNING-FERRIS INDUSTRIES OF TENNESSEE, INC.

BROWNING-FERRIS INDUSTRIES, INC.

BROWNING-FERRIS INDUSTRIES, LLC

BROWNING-FERRIS SERVICES, INC.

BROWNING-FERRIS, INC.

BRUNSWICK WASTE MANAGEMENT FACILITY, LLC

BUNTING TRASH SERVICE, INC.

BUTLER COUNTY LANDFILL, LLC

C & C EXPANDED SANITARY LANDFILL, LLC

CACTUS WASTE SYSTEMS, LLC

CAMELOT LANDFILL TX, LP

CAPITOL RECYCLING AND DISPOSAL, INC.

CARBON LIMESTONE LANDFILL, LLC

CC LANDFILL, INC.

CECOS INTERNATIONAL, INC.

CEFE LANDFILL TX, LP

CELINA LANDFILL, INC.

CENTRAL ARIZONA TRANSFER, INC.

CENTRAL SANITARY LANDFILL, INC.

CHARTER EVAPORATION RESOURCE RECOVERY SYSTEMS

CHEROKEE RUN LANDFILL, INC.

CHILTON LANDFILL, LLC

CITIZENS DISPOSAL, INC.

CITY-STAR SERVICES, INC.

CLARKSTON DISPOSAL, INC.

CLINTON COUNTY LANDFILL PARTNERSHIP

COCOPAH LANDFILL, INC.

COPPER MOUNTAIN LANDFILL, INC.

CORVALLIS DISPOSAL CO.

COUNTY DISPOSAL (OHIO), INC.

S-17

 

COUNTY DISPOSAL, INC.

COUNTY ENVIRONMENTAL LANDFILL, LLC

COUNTY LAND DEVELOPMENT LANDFILL, LLC

COUNTY LANDFILL, INC.

COUNTY LINE LANDFILL PARTNERSHIP

COURTNEY RIDGE LANDFILL, LLC

CRESCENT ACRES LANDFILL, LLC

CROW LANDFILL TX, L.P.

CUMBERLAND COUNTY DEVELOPMENT COMPANY, LLC

D & L DISPOSAL L.L.C.

DALLAS DISPOSAL CO.

DELTA CONTAINER CORPORATION

DELTA DADE RECYCLING CORP.

DELTA PAPER STOCK, CO.

DELTA RESOURCES CORP.

DELTA SITE DEVELOPMENT CORP.

DELTA WASTE CORP.

DEMPSEY WASTE SYSTEMS II, INC.

DENVER RL NORTH, INC.

DESARROLLO DEL RANCHO LA GLORIA TX, LP

DINVERNO, INC.

DTC MANAGEMENT, INC.

E LEASING COMPANY, LLC

EAGLE INDUSTRIES LEASING, INC.

EAST CHICAGO COMPOST FACILITY, INC.

ECDC ENVIRONMENTAL OF HUMBOLDT COUNTY, INC.

ECDC ENVIRONMENTAL, L.C.

ECDC HOLDINGS, INC.

EL CENTRO LANDFILL, L.P.

ELDER CREEK TRANSFER & RECOVERY, INC.

ELLIS COUNTY LANDFILL TX, LP

ELLIS SCOTT LANDFILL MO, LLC

ENVIRONMENTAL DEVELOPMENT CORP. [DE]

ENVIRONMENTAL RECLAMATION COMPANY

ENVIRONTECH, INC.

ENVOTECH-ILLINOIS L.L.C.

EVERGREEN SCAVENGER SERVICE, INC.

EVERGREEN SCAVENGER SERVICE, L.L.C.

F. P. McNAMARA RUBBISH REMOVAL, INC.

FLINT HILL ROAD, LLC

FOREST VIEW LANDFILL, LLC

FORT WORTH LANDFILL TX, LP

FORWARD, INC.

FRED BARBARA TRUCKING CO., INC.

FRONTIER WASTE SERVICES (COLORADO), LLC

FRONTIER WASTE SERVICES (UTAH), LLC

S-18

 

FRONTIER WASTE SERVICES OF LOUISIANA L.L.C.

FRONTIER WASTE SERVICES, L.P.

G. VAN DYKEN DISPOSAL INC.

GALVESTON COUNTY LANDFILL TX, LP

GATEWAY LANDFILL, LLC

GEK, INC.

GENERAL REFUSE ROLLOFF CORP.

GENERAL REFUSE SERVICE OF OHIO, L.L.C.

GEORGIA RECYCLING SERVICES, INC.

GILES ROAD LANDFILL TX, LP

GOLDEN TRIANGLE LANDFILL TX, LP

GOLDEN WASTE DISPOSAL, INC.

GRANTS PASS SANITATION, INC.

GREAT LAKES DISPOSAL SERVICE, INC.

GREAT PLAINS LANDFILL OK, LLC

GREEN VALLEY LANDFILL GENERAL PARTNERSHIP

GREENRIDGE RECLAMATION, LLC

GREENRIDGE WASTE SERVICES, LLC

GREENWOOD LANDFILL TX, LP

GULF WEST LANDFILL TX, LP

GULFCOAST WASTE SERVICE, INC.

HANCOCK COUNTY DEVELOPMENT COMPANY, LLC

HARLAND’S SANITARY LANDFILL, INC.

HARRISON COUNTY LANDFILL, LLC

ILLIANA DISPOSAL PARTNERSHIP

ILLINOIS LANDFILL, INC.

ILLINOIS RECYCLING SERVICES, INC.

ILLINOIS VALLEY RECYCLING, INC.

IMPERIAL LANDFILL, INC.

INDEPENDENT TRUCKING COMPANY

INGRUM WASTE DISPOSAL, INC.

INTERNATIONAL DISPOSAL CORP. OF CALIFORNIA

ISLAND WASTE SERVICES LTD.

ITASCA LANDFILL TX, LP

JACKSON COUNTY LANDFILL, LLC

JASPER COUNTY DEVELOPMENT COMPANY PARTNERSHIP

JEFFERSON CITY LANDFILL, LLC

JEFFERSON PARISH DEVELOPMENT COMPANY, LLC

JETTER DISPOSAL, INC.

KANDEL ENTERPRISES, LLC

KANKAKEE QUARRY, INC.

KELLER CANYON LANDFILL COMPANY

KELLER DROP BOX, INC.

KERRVILLE LANDFILL TX, LP

KEY WASTE INDIANA PARTNERSHIP

LA CAÑADA DISPOSAL COMPANY, INC.

S-19

 

LAKE COUNTY C & D DEVELOPMENT PARTNERSHIP

LAKE NORMAN LANDFILL, INC.

LANDCOMP CORPORATION

LATHROP SUNRISE SANITATION CORPORATION

LEE COUNTY LANDFILL SC, LLC

LEE COUNTY LANDFILL, INC.

LEMONS LANDFILL, LLC

LEWISVILLE LANDFILL TX, LP

LIBERTY WASTE HOLDINGS, INC.

LIBERTY WASTE SERVICES LIMITED, L.L.C.

LIBERTY WASTE SERVICES OF ILLINOIS, L.L.C.

LIBERTY WASTE SERVICES OF McCOOK, L.L.C.

LITTLE CREEK LANDING, LLC

LOCAL SANITATION OF ROWAN COUNTY, L.L.C.

LOOP RECYCLING, INC.

LOOP TRANSFER, INCORPORATED

LORAIN COUNTY LANDFILL, LLC

LOUIS PINTO & SON, INC., SANITATION CONTRACTORS

LUCAS COUNTY LAND DEVELOPMENT, INC.

LUCAS COUNTY LANDFILL, LLC

MADISON COUNTY DEVELOPMENT, LLC

MANUMIT OF FLORIDA, INC.

MARS ROAD TX, LP

McCARTY ROAD LANDFILL TX, LP

McINNIS WASTE SYSTEMS, INC.

MENANDS ENVIRONMENTAL SOLUTIONS, LLC

MESA DISPOSAL, INC.

MESQUITE LANDFILL TX, LP

MEXIA LANDFILL TX, LP

MIDWAY DEVELOPMENT COMPANY, INC.

MISSISSIPPI WASTE PAPER COMPANY

MISSOURI CITY LANDFILL, LLC

MOREHEAD LANDFILL GENERAL PARTNERSHIP

MOUNTAIN HOME DISPOSAL, INC.

N LEASING COMPANY, LLC

NATIONSWASTE CATAWBA REGIONAL LANDFILL, INC.

NATIONSWASTE, INC.

NCORP, INC.

NEW MORGAN LANDFILL COMPANY, INC.

NEW YORK WASTE SERVICES, LLC

NEWCO WASTE SYSTEMS OF NEW JERSEY, INC.

NEWTON COUNTY LANDFILL PARTNERSHIP

NOBLE ROAD LANDFILL, INC.

NORTHEAST LANDFILL, LLC

NORTHLAKE TRANSFER, INC.

OAKLAND HEIGHTS DEVELOPMENT, INC.

S-20

 

OBSCURITY LAND DEVELOPMENT, LLC

OKLAHOMA CITY LANDFILL, L.L.C.

OSCAR’S COLLECTION SYSTEM OF FREMONT, INC.

OTAY LANDFILL, INC.

OTTAWA COUNTY LANDFILL, INC.

PACKERTON LAND COMPANY, L.L.C.

PALOMAR TRANSFER STATION, INC.

PANAMA ROAD LANDFILL, TX, L.P.

PELTIER REAL ESTATE COMPANY

PINAL COUNTY LANDFILL CORP.

PINE HILL FARMS LANDFILL TX, LP

PINECREST LANDFILL OK, LLC

PITTSBURG COUNTY LANDFILL, INC.

PLEASANT OAKS LANDFILL TX, LP

POLK COUNTY LANDFILL, LLC

PORT CLINTON LANDFILL, INC.

PORTABLE STORAGE CO.

PREBLE COUNTY LANDFILL, INC.

PRICE & SONS RECYCLING COMPANY

PRINCE GEORGE’S COUNTY LANDFILL, LLC

R.C. MILLER ENTERPRISES, INC.

R.C. MILLER REFUSE SERVICE INC.

RABANCO COMPANIES

RABANCO RECYCLING, INC.

RABANCO, LTD.

RAMONA LANDFILL, INC.

RCS, INC.

RESOURCE RECOVERY, INC.

RIO GRANDE VALLEY LANDFILL TX, LP

RISK SERVICES, INC.

ROCK ROAD INDUSTRIES, INC.

ROSS BROS. WASTE & RECYCLING CO.

ROSSMAN SANITARY SERVICE, INC.

ROXANA LANDFILL, INC.

ROYAL HOLDINGS, INC.

ROYAL OAKS LANDFILL TX, LP

S & S RECYCLING, INC.

S LEASING COMPANY, LLC

SALINE COUNTY LANDFILL, INC.

SAN DIEGO LANDFILL SYSTEMS, LLC

SAN MARCOS NCRRF, INC.

SAND VALLEY HOLDINGS, L.L.C.

SANGAMON VALLEY LANDFILL, INC.

SANITARY DISPOSAL SERVICE, INC.

SAUK TRAIL DEVELOPMENT, INC.

SHOW-ME LANDFILL, LLC

S-21

 

SHRED — ALL RECYCLING SYSTEMS, INC.

SOURCE RECYCLING, INC.

SOUTH CENTRAL TEXAS LAND CO. TX, LP

SOUTHEAST LANDFILL, LLC

SOUTHWEST LANDFILL TX, LP

SPRINGFIELD ENVIRONMENTAL GENERAL PARTNERSHIP

ST. BERNARD PARISH DEVELOPMENT COMPANY, LLC

ST. JOSEPH LANDFILL, LLC

STANDARD DISPOSAL SERVICES, INC.

STANDARD ENVIRONMENTAL SERVICES, INC.

STANDARD WASTE, INC.

STREATOR AREA LANDFILL, INC.

SUBURBAN TRANSFER, INC.

SUBURBAN WAREHOUSE, INC.

SUMMIT WASTE SYSTEMS, INC.

SUNRISE SANITATION SERVICE, INC.

SUNSET DISPOSAL SERVICE, INC.

SUNSET DISPOSAL, INC.

SYCAMORE LANDFILL, INC.

TATE’S TRANSFER SYSTEMS, INC.

TAYLOR RIDGE LANDFILL, INC.

TENNESSEE UNION COUNTY LANDFILL, INC.

TESSMAN ROAD LANDFILL TX, LP

THE ECOLOGY GROUP, INC.

THOMAS DISPOSAL SERVICE, INC.

TIPPECANOE COUNTY WASTE SERVICES PARTNERSHIP

TOM LUCIANO’S DISPOSAL SERVICE, INC.

TOTAL ROLL-OFFS, L.L.C.

TOTAL SOLID WASTE RECYCLERS, INC.

TRICIL (N.Y.), INC.

TRI-STATE RECYCLING SERVICES, INC.

TRI-STATE REFUSE CORPORATION

TURKEY CREEK LANDFILL TX, LP

UNITED DISPOSAL SERVICE, INC.

UPPER ROCK ISLAND COUNTY LANDFILL, INC.

VALLEY LANDFILLS, INC.

VICTORIA LANDFILL TX, LP

VINING DISPOSAL SERVICE, INC.

WARRICK COUNTY DEVELOPMENT COMPANY

WASATCH REGIONAL LANDFILL, INC.

WASTE CONTROL SYSTEMS, INC.

WASTE SERVICES OF NEW YORK, INC.

WASTEHAUL, INC.

WAYNE COUNTY LAND DEVELOPMENT, LLC

WAYNE COUNTY LANDFILL IL, INC.

WDTR, INC.

S-22

 

WEBSTER PARISH LANDFILL, L.L.C.

WHISPERING PINES LANDFILL TX, LP

WILLAMETTE RESOURCES, INC.

WILLIAMS COUNTY LANDFILL INC.

WILLOW RIDGE LANDFILL, LLC

WJR ENVIRONMENTAL, INC.

WOODLAKE SANITARY SERVICE, INC.

S-23

 

SCHEDULE 7.02

EXISTING LIENS

	1.	 	Deed of Trust and Fixture Filing, made as of October 1, 2006, by Allied Waste Transfer
Services of California, LLC in favor of First American Title Insurance Company and Saguaro
National Captive Insurance Company (“Saguaro”), with regard to real property in the County of
Los Angeles, securing the Promissory Note, dated October 1, 2006 by Awin Management, Inc.
payable to Saguaro.
	 
	2.	 	Indemnity Deed of Trust and Fixture Filing, made as of October 1,2006, by Browning-Ferris,
Inc. in favor of First American Title Insurance Company and Saguaro, with regard to real
property in the County of Baltimore, securing the Promissory Note dated October 1, 2006 by
Awin Management, Inc. payable to Saguaro.
	 
	3.	 	Open-End Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing,
effective as of June 1, 2004, by Browning-Ferris Industries of Ohio, Inc. in favor of Saguaro,
with regard to real property in Mahoning County, Ohio, securing the Promissory Note dated June
1, 2004 by Awin Management, Inc. to Saguaro.
	 
	4.	 	Trust Deed, made on June 1, 2003, by Valley Landfills, Inc. in favor of Saguaro, with regard
to real property in Benton County, Oregon, securing the Promissory Note dated June 1, 2003 by
Valley Landfills, Inc. to Saguaro.
	 
	5.	 	Deed of Trust Assignment of Leases and Rents, Security Agreement and Fixture Filing, made as
of June 1, 2002, by BFI Waste Systems of North America, Inc. in favor of Dean Z. Pamphilis, as
Trustee, and Saguaro, with regard to real property located in Hidalgo County, Texas, securing
the Promissory Note dated June 1, 2002 by Awin Management, Inc. to Saguaro.
	 
	6.	 	Mortgage and Security Agreement, Assignment of Leases and Rents and Fixture Filing made as of
November 1, 2008 with respect to real property known as 920 East 132nd Street,
Bronx, New York, Tax Parcel ID numbers 02583-00050, 02583-00062 and 02596-00060.
	 
	7.	 	Existing Liens in favor of Saguaro related to real estate subject to sale-leaseback
arrangements.

The Liens in items 1 through 7 above are referred to as the “Saguaro Liens.”

S-24

 

SCHEDULE 7.05(b)

PERMITTED RMI INVESTMENTS

Investments by the Borrower and its Subsidiaries in the RMI Subsidiaries consisting of: (i)
investments in the RMI Subsidiaries existing on the date hereof (including promissory notes of the
Borrower and/or its Subsidiaries held by the RMI Subsidiaries); (ii) loans and advances of funds by
the Borrower and its Subsidiaries to the RMI Subsidiaries at such times and in such amounts as are
necessary to provide for the payment by the RMI Subsidiaries of Assumed RMI Liabilities (defined
below) and non-material general and administrative expenses, in each case, when and as they become
due and payable; and (iii) the purchase by the Borrower and its Subsidiaries of existing minority
equity interests in the RMI Subsidiaries pursuant to put and call arrangements existing on the date
hereof (which put and call arrangements may be extended as may be determined by the Borrower or its
Subsidiaries in connection with settlement negotiations in respect thereof). For purposes of this
Schedule 7.05(b), “Assumed RMI Liabilities” means the insurance, capping closure,
post-closure, environmental and related liabilities, including clean-up and remediation
liabilities, that were assumed by the RMI Subsidiaries from the Borrower or any of its Subsidiaries
prior to the date hereof.

S-25

 

SCHEDULE 7.06

EXISTING SECURED INDEBTEDNESS

Indebtedness secured by any of the Saguaro Liens (as defined in Schedule 7.02) in an
aggregate principal amount not to exceed $230,000,000 at any time outstanding.

S-26

 

SCHEDULE 7.12

EXISTING BURDENSOME AGREEMENTS

None.

S-27

 

SCHEDULE 10.02

ADMINISTRATIVE AGENT’S OFFICE;

CERTAIN ADDRESSES FOR NOTICES

	 	 	 	 	 

	BORROWER:	 	 
	 
	 	 	 	 
	Republic Services, Inc.	 	 
	18500 North Allied Way	 	 
	Phoenix, Arizona 85054	 	 
	Attention:

	 	Edward A. Lang, III	 	 
	 

	 	Senior Vice President and Treasurer	 	 
	Telephone:

	 	480.627.7128 	 	 
	Electronic Mail: elang@republicservices.com	 	 
	Website Address: www.republicservices.com	 	 
	 
	 	 	 	 
	with a copy to:	 	 
	Akerman, Senterfitt & Eidson, P.A.	 	 
	One S.E. Third Avenue	 	 
	Suite 2500	 	 
	Miami, Florida 33131	 	 
	Attention:

	 	William Arnhols, Esq.	 	 
	Telecopier:

	 	305.374.5095 	 	 
	 
	 	 	 	 
	ADMINISTRATIVE AGENT:	 	 
	 
	 	 	 	 
	Administrative Agent’s Office	 	 
	(for payments and Requests for Credit Extensions):	 	 
	Bank of America, N.A.	 	 
	901 Main Street, 14th Floor	 	 
	Mail Code: TX1-491-14-14	 	 
	Dallas, Texas 75202	 	 
	Attention:

	 	Runzia Bob	 	 
	Telephone:

	 	214.209.9732 	 	 
	Telecopier:

	 	214.290.9646 	 	 
	Electronic Mail: runzia.v.bob@baml.com	 	 
	 
	 	 	 	 
	Wire Instructions:	 	 
	Account No.: 1292000883	 	 
	Attn: Credit Services	 	 
	Ref: Republic Services, Inc.	 	 
	ABA# 026009593	 	 

S-28

 

	 	 	 	 	 

	Other Notices as Administrative Agent:	 	 
	Bank of America, N.A.	 	 
	Agency Management	 	 
	901 Main Street	 	 
	Mail Code: TX1-492-14-11	 	 
	Dallas, Texas 75202	 	 
	Attention:

	 	Ronaldo Naval	 	 
	Telephone:

	 	241.209.1162 	 	 
	Telecopier:

	 	877.511.6124 	 	 
	Electronic Mail: ronaldo.naval@baml.com	 	 
	 
	 	 	 	 
	All Notices to Portfolio/Credit Contact:	 	 
	Bank of America, N.A.	 	 
	100 Federal Street	 	 
	Mail Code: MA5-100-09-07	 	 
	Boston, Massachusetts 02110	 	 
	Attention:

	 	Maria F. Maia	 	 
	 

	 	Managing Director	 	 
	Telephone:

	 	617.434.5751 	 	 
	Telecopier:

	 	617.434.7700 	 	 
	Electronic Mail: maria.f.maia@baml.com	 	 
	 
	 	 	 	 
	L/C ISSUER:
	 	 
	 
	 	 	 	 
	Bank of America, N.A.	 	 
	Trade Services	 	 
	1 Fleet Way	 	 
	Mail Code: PA6-580-02-30	 	 
	Scranton, Pennsylvania 18507	 	 
	Attention:

	 	Michael A. Grizzanti	 	 
	 

	 	Operations Manager	 	 
	Telephone:

	 	570.330.4214 	 	 
	Telecopier:

	 	800.755.8743 	 	 
	Electronic Mail: michael.a.grizzanti@baml.com	 	 

S-29

 

	 	 	 	 	 

	SWING LINE LENDER:	 	 
	 
	 	 	 	 
	Bank of America, N.A.	 	 
	901 Main Street, 14th Floor	 	 
	TX1-491-14-14	 	 
	Dallas, Texas 75202	 	 
	Attention:

	 	Runzia Bob	 	 
	Telephone:

	 	214.209.9732 	 	 
	Telecopier:

	 	214.290.9646 	 	 
	Electronic Mail: runzia.v.bob@baml.com	 	 
	Account No.: 1292000883	 	 
	Ref: Republic Services, Inc.	 	 
	ABA# 026009593	 	 

S-30

 

EXHIBIT A

FORM OF COMMITTED LOAN NOTICE

Date: ___________, _____

To:    Bank of America, N.A., as Administrative Agent

Ladies and Gentlemen:

     Reference is made to that certain Amended and Restated Credit Agreement, dated as of April 20,
2011 (as amended, restated, extended, supplemented or otherwise modified in writing from time to
time, the “Agreement”; the terms defined therein being used herein as therein defined),
among Republic Services, Inc., a Delaware corporation (the “Borrower”), the Lenders from
time to time party thereto, and Bank of America, N.A., as Administrative Agent, Swing Line Lender
and L/C Issuer.

     The undersigned hereby requests (select one):

     o A Borrowing of Committed Loans                o A conversion or continuation of Loans

	 	1.	 	On _________________________ (a Business Day).
	 
	 	2.	 	In the amount of $ ______________.
	 
	 	3.	 	Comprised of  _____________________________.

[Type of Committed Loan requested]

	 	4.	 	For Eurodollar Rate Loans: with an Interest Period of [one week][___ months].

     The Committed Borrowing, if any, requested herein complies with the provisos to the first
sentence of Section 2.01 of the Agreement.

	 	 	 	 	 	 	 

	 	 	REPUBLIC SERVICES, INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	Name:
	 	 

	 	 
	 

	 	Title:
	 	 

	 	 
	 

	 	 	 	 

	 	 

Form of Committed Loan Notice

A-1

 

EXHIBIT B

FORM OF SWING LINE LOAN NOTICE

Date: ___________, _____

			
	To:	 	Bank of America, N.A., as Swing Line Lender

Bank of America, N.A., as Administrative Agent

Ladies and Gentlemen:

     Reference is made to that certain Amended and Restated Credit Agreement, dated as of April 20,
2011 (as amended, restated, extended, supplemented or otherwise modified in writing from time to
time, the “Agreement”; the terms defined therein being used herein as therein defined),
among Republic Services, Inc., a Delaware corporation (the “Borrower”), the Lenders from
time to time party thereto, and Bank of America, N.A., as Administrative Agent, Swing Line Lender
and L/C Issuer.

     The undersigned hereby requests a Swing Line Loan:

	 	1.	 	On _______________ (a Business Day).
	 
	 	2.	 	In the amount of $______________.

     The Swing Line Borrowing requested herein complies with the requirements of the provisos to
the first sentence of Section 2.04(a) of the Agreement.

	 	 	 	 	 	 	 

	 	 	REPUBLIC SERVICES, INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	Name:
	 	 

	 	 
	 

	 	Title:
	 	 

	 	 
	 

	 	 	 	 

	 	 

Form of Swing Line Loan Notice

B-1

 

EXHIBIT C

FORM OF AMENDED AND RESTATED NOTE

_______________

     FOR VALUE RECEIVED, the undersigned (the “Borrower”) hereby promises to pay to
_____________________ or registered assigns (the “Lender”), in accordance with the
provisions of the Agreement (as hereinafter defined), the principal amount of each Loan from time
to time made by the Lender to the Borrower under that certain Amended and Restated Credit
Agreement, dated as of April 20, 2011 (as amended, restated, extended, supplemented or otherwise
modified in writing from time to time, the “Agreement”; the terms defined therein being
used herein as therein defined), among the Borrower, the Lenders from time to time party thereto,
and Bank of America, N.A., as Administrative Agent, Swing Line Lender and L/C Issuer.

     The Borrower promises to pay interest on the unpaid principal amount of each Loan from the
date of such Loan until such principal amount is paid in full, at such interest rates and at such
times as provided in the Agreement. Except as otherwise provided in Section 2.04(f) of the
Agreement with respect to Swing Line Loans, all payments of principal and interest shall be made to
the Administrative Agent for the account of the Lender in Dollars in immediately available funds at
the Administrative Agent’s Office. If any amount is not paid in full when due hereunder, such
unpaid amount shall bear interest, to be paid upon demand, from the due date thereof until the date
of actual payment (and before as well as after judgment) computed at the per annum rate set forth
in the Agreement.

     This Note is one of the Notes referred to in the Agreement, is entitled to the benefits
thereof and may be prepaid in whole or in part subject to the terms and conditions provided
therein. Upon the occurrence and continuation of one or more of the Events of Default specified in
the Agreement, all amounts then remaining unpaid on this Note shall become, or may be declared to
be, immediately due and payable all as provided in the Agreement. Loans made by the Lender shall
be evidenced by one or more loan accounts or records maintained by the Lender in the ordinary
course of business. The Lender may also attach schedules to this Note and endorse thereon the date,
amount and maturity of its Loans and payments with respect thereto.

     If the Lender was a party to the Existing Credit Agreement, this Note amends and restates any
promissory note executed and delivered by the Borrower in favor of the Lender in connection with
such Existing Credit Agreement (the “Original Note”), is given as a substitution of, and
not as a payment of, the indebtedness, liabilities and obligations of the Borrower under the
Original Note and is not intended to constitute a novation thereof.

     The Borrower, for itself, its successors and assigns, hereby waives diligence, presentment,
protest and demand and notice of protest, demand, dishonor and non-payment of this Note.

Form of Note

C-1

 

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

	 	 	 	 	 	 	 

	 	 	REPUBLIC SERVICES, INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	Name:
	 	 

	 	 
	 

	 	Title:
	 	 

	 	 
	 

	 	 	 	 

	 	 

Form of Note

C-2

 

LOANS AND PAYMENTS WITH RESPECT THERETO

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	Amount of	 	 	 	 
	 	 	 	 	 	 	 	 	Principal	 	Outstanding	 	 
	 	 	Type of	 	Amount of	 	End of	 	or Interest	 	Principal	 	 
	 	 	Loan	 	Loan	 	Interest	 	Paid This	 	Balance	 	Notation
	Date	 	Made	 	Made	 	Period	 	Date	 	This Date	 	Made By
	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 

Form of Note

C-3

 

EXHIBIT D

FORM OF COMPLIANCE CERTIFICATE

Financial Statement Date: __________, _____

To:    Bank of America, N.A., as Administrative Agent

Ladies and Gentlemen:

     Reference is made to that certain Amended and Restated Credit Agreement, dated as of April 20,
2011 (as amended, restated, extended, supplemented or otherwise modified in writing from time to
time, the “Agreement”; the terms defined therein being used herein as therein defined),
among Republic Services, Inc., a Delaware corporation (the “Borrower”), the Lenders from
time to time party thereto, and Bank of America, N.A., as Administrative Agent, Swing Line Lender
and L/C Issuer.

     The undersigned Responsible
Officer hereby certifies as of the date hereof that he/she is the ______
of the Borrower, and that, as such, he/she is authorized to execute and deliver this Certificate to
the Administrative Agent on the behalf of the Borrower, and that:

          [Use following paragraph 1 for fiscal year-end financial statements]

     1. The Borrower has delivered the year-end audited financial statements required by
Section 6.01(a) of the Agreement for the fiscal year of the Borrower ended as of the above
date, together with the report of an independent certified public accountant required by such
section.

          [Use following paragraph 1 for fiscal quarter-end financial statements]

     1. The Borrower has delivered the unaudited financial statements required by Section
6.01(b) of the Agreement for the fiscal quarter of the Borrower ended as of the above date.
Such financial statements fairly present, in accordance with GAAP (subject to the absence of
footnotes and to ordinary, good faith year-end audit adjustments), the financial position and the
results of operations of the Borrower and its Subsidiaries as of such date and for such period.

     2. The undersigned has reviewed and is familiar with the terms of the Agreement and has made,
or has caused to be made under his/her supervision, a detailed review of the transactions and
condition (financial or otherwise) of the Borrower during the accounting period covered by such
financial statements.

     3. A review of the activities of the Borrower during such fiscal period has been made under
the supervision of the undersigned with a view to determining whether during such fiscal period the
Borrower performed and observed all its Obligations under the Loan Documents, and

Form of Compliance Certificate

D-1

 

[select one:]

     [to the best knowledge of the undersigned, during such fiscal period, the Borrower performed
and observed each covenant and condition of the Loan Documents applicable to it, and no Default has
occurred and is continuing.]

—or—

     [to the best knowledge of the undersigned, during such fiscal period the following covenants
or conditions have not been performed or observed and the following is a list of each such Default
and its nature and status:]

     4. The representations and warranties of the Borrower contained in Article V of the
Agreement, and any representations and warranties of the Borrower that are contained in any Loan
Document or other document furnished at any time under or in connection with the Loan Documents,
are true and correct on and as of the date hereof, except to the extent that such representations
and warranties specifically refer to an earlier date, in which case they are true and correct as of
such earlier date, and except that for purposes of this Compliance Certificate, the representations
and warranties contained in subsection (a) of Section 5.11 of the Agreement shall be deemed
to refer to the most recent statements furnished pursuant to clause (a) of Section 6.01 of
the Agreement, including the statements in connection with which this Compliance Certificate is
delivered.

     5. The financial covenant analyses and information set forth on Schedule 1 attached
hereto are true and accurate on and as of the date of this Certificate.

     IN WITNESS WHEREOF, the undersigned has executed this Certificate as of _______________, ____.

	 	 	 	 	 	 	 

	 	 	REPUBLIC SERVICES, INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	Name:
	 	 

	 	 
	 

	 	Title:
	 	 

	 	 
	 

	 	 	 	 

	 	 

Form of Compliance Certificate

D-2

 

For the Quarter/Year ended __________________(“Statement Date”)

SCHEDULE 1

to the Compliance Certificate

($ in 000’s)

	I.	 	Subsection 7.01(a): Consolidated Interest Coverage Ratio

	 	 	 	 	 	 	 	 	 

	A.	 	Consolidated EBITDA for Computation Period:	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	(1)	 	 	Consolidated Net Income for Computation Period:
	 	$__________
	 

	 	(2)	 	 	Consolidated Interest Expense for Computation Period:
	 	$__________
	 

	 	(3)		 	taxes on income for Computation Period:
	 	$__________
	 

	 	(4)		 	amortization and depreciation for Computation Period:
	 	$__________
	 

	 	(5)		 	[environmental remediation charges during Computation Period
associated with environmental conditions at the CountyWide Recycling and
Disposal Facility as more particularly described in the Borrower’s Form 10-Q
filed with the SEC on August 8, 2008 (not to exceed $69,000,000 in the
aggregate during all Computation Periods):
	 	$__________]
	 

	 	[(6)	 	non-cash charges associated with the assumption and
early extinguishment from time to time of Indebtedness of Allied assumed in
connection with the Allied Acquisition:
	 	$__________]
	 

	 	[(7)	 	reasonably documented transition costs during Computation
Period in connection with the Allied Acquisition not to exceed $36,000,000 in
fiscal year 2010:
	 	$_________]1
	 	 	[(8)] 	 	Lines I.A.(1)+(2)+(3)+(4)[+(5)+(6)+(7)]:	 	$__________
	 
	 	 	 	 	 	 	 	 
	B.	 	Consolidated Interest Expense for Computation Period:	 	$__________
	 
	 	 	 	 	 	 	 	 
	C.	 	Line I.A.[8] divided by Line I.B.:	 	_____ to 1.00

(Line I.C. must not be less than 3.00 to 1.00)

 

			
	1	 	Bracketed text to be deleted if not
applicable during Computation Period and bracketed cross-references
appropriately updated.

Form of Compliance Certificate

D-3

 

	II.	 	Subsection 7.01(b): Total Debt to EBITDA Ratio

	 	 	 	 	 	 	 	 	 

	A.	 	Total Debt as of last day of Computation Period:	 	$__________
	 
	B.	 	Restricted Cash as of last day of Computation Period:	 	$__________
	 
	C.	 	Line II.A. minus Line II.B.:	 	$__________
	 
	D.	 	Consolidated EBITDA for Computation Period2:	 	 
	 
	 

	 	(1)	 	 	Consolidated Net Income for Computation Period:
	 	$__________
	 

	 	(2)		 	Consolidated Interest Expense for Computation Period:
	 	$__________
	 

	 	(3)		 	taxes on income for Computation Period:
	 	$__________
	 

	 	(4)		 	amortization and depreciation for Computation Period:
	 	$__________
	 

	 	(5)		 	[environmental remediation charges during Computation Period
associated with environmental conditions at the CountyWide Recycling and
Disposal Facility as more particularly described in the Borrower’s Form 10-Q
filed with the SEC on August 8, 2008 (not to exceed $69,000,000 in the
aggregate during all Computation Periods):	 	$__________]
	 

	 	[(6)	 	non-cash charges associated with the assumption and
early extinguishment from time to time of Indebtedness of Allied assumed in
connection with the Allied Acquisition:
	 	$__________]
	 

	 	[(7)	 	reasonably documented transition costs during Computation
Period in connection with the Allied Acquisition not to exceed $36,000,000 in
fiscal year 2010:
	 	$_________]3
	 

	 	[(8)]	 	 	Lines II.A.(1)+(2)+(3)+(4)[+(5)+(6)+(7)]:
	 	$__________
	 
	 	 	 	 	 	 	 	 
	E.	 	Line II.D. divided by Line II.D.[8]:	 	_____ to 1.00

(Line II.E must not be greater than 3.50 to 1.00)

 

			
	2	 	To the extent that any Acquisition has been
consummated during a Computation Period, Consolidated EBITDA shall be computed
on a pro forma basis in accordance with Article 11 of Regulation S-X of the SEC
or in a manner otherwise approved by the Administrative Agent only for
the purpose of determining the Total Debt to EBITDA Ratio.
	 
	3	 	Bracketed text to be deleted if not
applicable during Computation Period and bracketed cross-references
appropriately updated.

Form of Compliance Certificate

D-4

 

EXHIBIT E-1

ASSIGNMENT AND ASSUMPTION

     This Assignment and Assumption (this “Assignment and Assumption”) is dated as of the
Effective Date set forth below and is entered into by and between [the][each] Assignor identified
in item 1 below ([the][each, an] “Assignor”) and [the][each] Assignee identified in item 2
below ([the][each, an] “Assignee”). [It is understood and agreed that the rights and
obligations of [the Assignors][the Assignees] hereunder are several and not joint.] Capitalized
terms used but not defined herein shall have the meanings given to them in the Amended and Restated
Credit Agreement identified below (the “Credit Agreement”), receipt of a copy of which is
hereby acknowledged by the Assignee. The Standard Terms and Conditions set forth in Annex 1
attached hereto are hereby agreed to and incorporated herein by reference and made a part of this
Assignment and Assumption as if set forth herein in full.

     For an agreed consideration, [the][each] Assignor hereby irrevocably sells and assigns to [the
Assignee][the respective Assignees], and [the][each] Assignee hereby irrevocably purchases and
assumes from [the Assignor][the respective Assignors], subject to and in accordance with the
Standard Terms and Conditions and the Credit Agreement, as of the Effective Date inserted by the
Administrative Agent as contemplated below (i) all of [the Assignor’s][the respective Assignors’]
rights and obligations in [its capacity as a Lender][their respective capacities as Lenders] under
the Credit Agreement and any other documents or instruments delivered pursuant thereto to the
extent related to the amount and percentage interest identified below of all of such outstanding
rights and obligations of [the Assignor][the respective Assignors] under the respective facilities
identified below (including, without limitation, the Letters of Credit and the Swing Line Loans
included in such facilities) and (ii) to the extent permitted to be assigned under applicable law,
all claims, suits, causes of action and any other right of [the Assignor (in its capacity as a
Lender)][the respective Assignors (in their respective capacities as Lenders)] against any Person,
whether known or unknown, arising under or in connection with the Credit Agreement, any other
documents or instruments delivered pursuant thereto or the loan transactions governed thereby or in
any way based on or related to any of the foregoing, including, but not limited to, contract
claims, tort claims, malpractice claims, statutory claims and all other claims at law or in equity
related to the rights and obligations sold and assigned by [the][any] Assignor to [the][any]
Assignee pursuant to clause (i) above (the rights and obligations sold and assigned pursuant to
clauses (i) and (ii) above being referred to herein collectively as [the][an] “Assigned
Interest”). Each such sale and assignment is without recourse to [the][any] Assignor and,
except as expressly provided in this Assignment and Assumption, without representation or warranty
by [the][any] Assignor.

	1.	 	Assignor[s]: ____________________
	 
	2.	 	Assignee[s]: ____________________ [for each Assignee, indicate
[Affiliate] [Approved Fund] of [identify Lender]]
	 
	3.	 	Borrower: Republic Industries, Inc.

Form of Assignment and Assumption

E-1-1

 

	4.	 	Administrative Agent: Bank of America, N.A., as the administrative agent under the
Credit Agreement
	 
	5.	 	Credit Agreement: Amended and Restated Credit Agreement, dated as of April 20, 2011,
as amended, restated, extended, supplemented or otherwise modified in writing from time to
time, among Republic Services, Inc., the Lenders from time to time party thereto, and Bank of
America, N.A., as Administrative Agent, Swing Line Lender and L/C Issuer
	 
	6.	 	Assigned Interest:

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Aggregate	 	 	 	 	 	 
	 	 	 	 	 	 	Amount of	 	Amount of	 	Percentage	 	 
	 	 	 	 	 	 	Commitment/	 	Commitment/	 	Assigned of	 	 
	 	 	 	 	Facility	 	Loans for all	 	Loans	 	Commitment/	CUSIP
	Assignor[s]	 	Assignee[s]	Assigned	Lenders	Assigned	Loans	Number
	 
	 	 	 	 	 	$_________
	 	$_________
	 	_________%
	 	 
	 
	 	 	 	 	 	$_________
	 	$_________
	 	_________%
	 	 
	 
	 	 	 	 	 	$_________
	 	$_________
	 	_________%
	 	 

[7. Trade Date: __________________]

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

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

	 	 	 	 	 	 	 

	 	 	ASSIGNOR	 	 
	 
	 	 	[NAME OF ASSIGNOR]	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 

Title:
	 	 
	 
	 	 	 	 	 	 
	 	 	ASSIGNEE	 	 
	 
	 	 	[NAME OF ASSIGNEE]	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 

Title:
	 	 

[Consented to and] Accepted:

BANK OF AMERICA, N.A., as

     Administrative Agent

Form of Assignment and Assumption

E-1-2

 

	 	 	 	 	 

	By:
	 	 	 	 
	 

	 	 

Title:
	 	 
	 
	 	 	 	 
	[Consented to:]	 	 
	 
	REPUBLIC SERVICES, INC.	 	 
	 
	 	 	 	 
	By:
	 	 	 	 
	 

	 	 

Title:
	 	 

Form of Assignment and Assumption

E-1-3

 

ANNEX 1 TO ASSIGNMENT AND ASSUMPTION

Amended and Restated Credit Agreement dated as of April 20, 2011, as amended, restated,

extended, supplemented or otherwise modified in writing from time to time, by and among

Republic Services, Inc., Bank of America, N.A., as Administrative Agent, Swing Line

Lender and L/C Issuer, and the Lenders party thereto from time to time

STANDARD TERMS AND CONDITIONS FOR

ASSIGNMENT AND ASSUMPTION

          1. Representations and Warranties.

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

          1.2. Assignee. [The][Each] Assignee (a) represents and warrants that (i) it has full
power and authority, and has taken all action necessary, to execute and deliver this Assignment and
Assumption and to consummate the transactions contemplated hereby and to become a Lender under the
Credit Agreement, (ii) it meets all the requirements to be an assignee under Section
10.06(b)(iii), (v) and (vi) of the Credit Agreement (subject to receipt of such
consents as may be required under the Credit Agreement), (iii) from and after the Effective Date,
it shall be bound by the provisions of the Credit Agreement as a Lender thereunder and, to the
extent of [the][the relevant] Assigned Interest, shall have the obligations of a Lender thereunder,
(iv) it is sophisticated with respect to decisions to acquire assets of the type presented by
[the][such] Assigned Interest and either it, or the Person exercising discretion in making its
decision to acquire [the][such] Assigned Interest, is experienced in acquiring assets of such type,
(v) it has received a copy of the Credit Agreement and has received or has been accorded the
opportunity to receive copies of the most recent financial statements referred to in Section
5.11 thereof or delivered pursuant to Section 6.01 thereof, as applicable, and such
other documents and information as it deems appropriate to make its own credit analysis and
decision to enter into this Assignment and Assumption and to purchase [the][such] Assigned
Interest, (vi) it has independently and without reliance upon the Administrative Agent, [the[[any]
Assignor or any other Lender and based on such documents and information as it has deemed
appropriate, made its own credit analysis and decision to enter into this Assignment and Assumption
and to purchase [the][such] Assigned Interest, and (vii) if it is a Foreign Lender, attached hereto
is any documentation required to be delivered by it pursuant to the terms of the Credit Agreement,
duly completed and executed by [the][such] Assignee; and (b) agrees that (i) it will, independently

Form of Assignment and Assumption

E-1-4

 

and without reliance upon the Administrative Agent, [the][any] Assignor or any other Lender,
and based on such documents and information as it shall deem appropriate at the time, continue to
make its own credit decisions in taking or not taking action under the Loan Documents, and (ii) it
will perform in accordance with their terms all of the obligations which by the terms of the Loan
Documents are required to be performed by it as a Lender.

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

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

Form of Assignment and Assumption

E-1-5

 

EXHIBIT E-2

FORM OF ADMINISTRATIVE QUESTIONNAIRE

See attached.

Form of
Administrative Questionnaire

E-2-1

 

ADMINISTRATIVE DETAILS REPLY FORM — US DOLLAR ONLY

CONFIDENTIAL

	 	 	 

	FAX ALONG WITH COMMITMENT LETTER TO:
	 	 
	 

	 	 

	 	 	 	 	 

	 

	 	FAX #	 	 
	 

	 	 	 	 

I. Borrower Name: Republic Services Inc.

	 	 	 	 	 	 	 	 	 	 	 

	 

	 	 		 	$		 	Type of Credit Facility 	 	 
	 

	 	 	 	 	 	 

	 	 
	 
	 

II. Legal Name of Lender of Record for Signature Page:

 

	 	 	 	 	 	 	 

	•

	 	Signing Credit Agreement
	 	_____ YES
	 	_____NO
	•

	 	Coming in via Assignment
	 	_____ YES
	 	_____NO

	 	 	 

	III. Type of Lender:
	 	 
	 

	 	 
	(Bank, Asset Manager, Broker/Dealer, CLO/CDO, Finance Company, Hedge Fund, Insurance, Mutual Fund, Pension Fund, Other Regulated Investment Fund, Special Purpose Vehicle, Other — please specify)

	 	 	 

	IV. Domestic Address:

	 	V. Eurodollar Address:
	 
	 
	 	 
	 

	 	 
	 
	 	 
	 

	 	 
	 
	 	 
	 

	 	 
	 
	 	 
	 

	 	 

VI. Contact Information:

Syndicate level information (which may contain material non-public information about the
Borrower and its related parties or their respective securities) will be made available to the
Credit Contact(s). The Credit Contacts identified must be able to receive such information in
accordance with his/her institution’s compliance procedures and applicable laws, including Federal
and State securities laws.

	 	 	 	 	 	 	 
	 	 	 	 	Primary	 	Secondary
	 	 	Credit Contact	 	Operations Contact	 	Operations Contact
	 
	Name:
	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 
	 	 	 	 	 	 
	Title:
	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 
	 	 	 	 	 	 
	Address:
	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 
	 
	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 
	 	 	 	 	 	 
	Telephone:
	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 
	 	 	 	 	 	 
	Facsimile:
	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 
	 	 	 	 	 	 
	E Mail Address:
	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 

Does Secondary Operations Contact need copy of notices? ___YES ___ NO

1

 

ADMINISTRATIVE DETAILS REPLY FORM — US DOLLAR ONLY

CONFIDENTIAL

	 	 	 	 	 	 	 
	 	 	Letter of Credit	 	Draft Documentation	 	 
	 	 	Contact	 	Contact	 	Legal Counsel
	 
	Name:
	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 
	 	 	 	 	 	 
	Title:
	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 
	 	 	 	 	 	 
	Address:
	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 
	 	 	 	 	 	 
	Telephone:
	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 
	 	 	 	 	 	 
	Facsimile:
	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 
	 	 	 	 	 	 
	E Mail Address:
	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 

VII. Lender’s Standby Letter of Credit, Commercial Letter of Credit, and Bankers’ Acceptance Fed
Wire Payment Instructions (if applicable):

	 	 	 	 	 

	Pay to:
	 	 	 	 
	 

	 	 

(Bank Name)
	 	 
	 
	 	 	 	 
	 

	 	 

(ABA #)
	 	 
	 
	 	 	 	 
	 

	 	 

(Account #)
	 	 
	 
	 	 	 	 
	 

	 	 

(Attention)
	 	 

VIII. Lender’s Fed Wire Payment Instructions:

	 	 	 	 	 	 	 

	Pay to:
	 	 	 	 	 	 
	 
	 	 	 	 	 
	 

	 	(Bank Name)	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	 	 	 
	 

	 	(ABA#)
	 	(City/State)	 	 
	 
	 	 	 	 	 	 
	 	 	 	 	 
	 

	 	(Account #)
	 	(Account Name)	 	 
	 
	 	 	 	 	 	 
	 	 	 	 	 
	 

	 	(Attention)	 	 	 	 

2

 

ADMINISTRATIVE DETAILS REPLY FORM — US DOLLAR ONLY

CONFIDENTIAL

IX. Organizational Structure and Tax Status

Please refer to the enclosed withholding tax instructions below and then complete this section
accordingly:

Lender Taxpayer Identification Number (TIN): ___ ___ - ___ ___ ___ ___ ___ ___

Tax Withholding Form Delivered to Bank of America*:

                     W-9

                     W-8BEN

                     W-8ECI

                     W-8EXP

                     W-8IMY

NON—U.S. LENDER INSTITUTIONS

1. Corporations:

If your institution is incorporated outside of the United States for U.S. federal income tax
purposes, and is the beneficial owner of the interest and other income it receives, you must
complete one of the following three tax forms, as applicable to your institution: a.) Form W-8BEN
(Certificate of Foreign Status of Beneficial Owner), b.) Form W-8ECI (Income Effectively Connected
to a U.S. Trade or Business), or c.) Form W-8EXP (Certificate of Foreign Government or Governmental
Agency).

A U.S. taxpayer identification number is required for any institution submitting a Form W-8 ECI.
It is also required on Form W-8BEN for certain institutions claiming the benefits of a tax treaty
with the U.S. Please refer to the instructions when completing the form applicable to your
institution. In addition, please be advised that U.S. tax regulations do not permit the acceptance
of faxed forms. An original tax form must be submitted.

2. Flow-Through Entities

If your institution is organized outside the U.S., and is classified for U.S. federal income tax
purposes as either a Partnership, Trust, Qualified or Non-Qualified Intermediary, or other non-U.S.
flow-through entity, an original Form
W-8IMY (Certificate of Foreign Intermediary, Foreign Flow-Through Entity, or Certain U.S. branches
for United States Tax Withholding) must be completed by the intermediary together with a
withholding statement. Flow-through entities other than Qualified Intermediaries are required to
include tax forms for each of the underlying beneficial owners.

Please refer to the instructions when completing this form. In addition, please be advised that
U.S. tax regulations do not permit the acceptance of faxed forms. Original tax form(s) must be
submitted.

3

 

ADMINISTRATIVE DETAILS REPLY FORM — US DOLLAR ONLY

CONFIDENTIAL

U.S. LENDER INSTITUTIONS:

If your institution is incorporated or organized within the United States, you must complete and
return Form W-9 (Request for Taxpayer Identification Number and Certification). Please be advised
that we require an original form W-9.

Pursuant to the language contained in the tax section of the Credit Agreement, the applicable tax
form for your institution must be completed and returned on or prior to the date on which your
institution becomes a lender under this Credit Agreement. Failure to provide the proper tax form
when requested will subject your institution to U.S. tax withholding.

 

* Additional guidance and instructions as to where to submit this documentation can be found at this
link:

X. Bank of America Payment Instructions:

	 	 	 

	Pay to:

	 	Bank of America, N.A.
	 

	 	ABA # 026009593
	 

	 	New York, NY
	 

	 	Acct. #                                         
	 

	 	Attn: Corporate Credit Services
	 

	 	Ref: Republic Services, Inc.

3/1/07 Revision

4

 

EXHIBIT F

OPINION MATTERS

April 20, 2011

To each of the Lenders party to

the “Credit Agreement” (as defined below),

and to Bank of America, N.A.,

as Administrative Agent

901 Main Street, 14th Floor

Mail Code: TX1-491-14-14

Dallas, Texas 75202

     Re: Loans to Republic Services, Inc.

Ladies and Gentlemen:

     We have acted as special counsel to Republic Services, Inc., a Delaware corporation (the
“Company”), in connection with that certain Amended and Restated Credit Agreement dated as
of April 20, 2011 (the “Credit Agreement”), among the Company, the lenders parties thereto
(the “Lenders”), Bank of America, N.A., as Administrative Agent (in such capacity, the
“Agent”), Swing Line Lender and L/C Issuer, and the Guarantors party thereto. We have also
acted as special counsel to each of the Guarantors in connection with each Guarantor’s execution
and delivery of the Credit Agreement. Capitalized terms used herein and not otherwise defined
shall have the respective meanings set forth in the Credit Agreement.

     This opinion is furnished to you at the request of the Company pursuant to Section
4.01(b) of the Credit Agreement.

     In connection with issuing this opinion, we have reviewed originals or copies of the following
documents (collectively, the “Transaction Documents”):

	 	1.	 	The Credit Agreement;
	 
	 	2.	 	the Amended and Restated Notes issued to certain Lenders under the Credit
Agreement and described on Annex I hereto (the “Notes”); and
	 
	 	3.	 	the Guaranty.

     In rendering the opinions set forth herein, we have also examined and relied upon originals or
copies of such (i) certificate of incorporation, bylaws and other corporate governance documents
relating to the Company, (ii) certificates of public officials, (iii) certificates of officers and
representatives of the Company, and (iv) other documents, instruments and certificates as we have
deemed necessary in issuing this opinion letter, and we have made such inquiries of officers and
representatives of the Company as we have deemed relevant or

Opinion Matters

F-1

 

necessary as the basis for such opinions. In rendering the opinions set forth herein, we have
made no independent investigation of the facts relevant to the opinions and have for purposes of
rendering such opinions relied solely upon, and assumed the accuracy of, the representations,
warranties and statements contained in the Credit Agreement and the other Transaction Documents and
such certificates and other statements, documents and records supplied to us by the Company with
respect to the factual matters set forth therein, including the Officer’s Certificate attached
hereto as Annex II (the “Officer’s Certificate”). We have assumed the legal
capacity of all natural persons, the genuineness of all signatures (other than signatures of
officers and representatives of the Company on the Transaction Documents) and the authenticity of
all documents submitted to us as originals and the conformity to original documents of all
documents submitted to us as certified or photostatic copies. We have not undertaken any lien,
intellectual property, litigation or judgment searches or searches of court dockets in any
jurisdiction, and express no opinion as to any matter that may appear in any such search nor the
impact thereof on any opinion contained herein.

     In rendering the opinions set forth herein, we have assumed that:

     i. all the parties to the Transaction Documents, other than the Company, are duly
organized, validly existing, and in good standing under the laws of their respective
jurisdictions of organization and have the requisite corporate or other power and authority
to enter into and perform all of their respective obligations under the Transaction
Documents;

     ii. the execution and delivery of the Transaction Documents have been duly authorized
by all necessary corporate or other action and proceedings on the part of all parties
thereto other than the Company; the Transaction Documents have been executed and delivered
by all parties thereto other than the Company, and constitute the valid and binding
obligations of all parties thereto other than the Company and the Guarantors, enforceable
against such parties in accordance with their respective terms; the respective terms and
provisions of each of the Transaction Documents do not, and the execution, delivery and
performance thereof by each of the parties thereto will not, violate or conflict with (a)
the Organization Documents of any party thereto (other than the Company, as to which we
express our opinion in paragraph 2(b) herein), (b) any contract, agreement or indenture to
which any party thereto is a party or by which it is created or bound (other than those
contracts, agreements and indentures of the Company as to which we express an opinion in
paragraph 2(d) herein) or (c) any law or regulation, or any judgment, writ, determination,
order, decree or award of any court, administrative agency or other governmental authority
applicable to any party thereto (other than such laws and regulations applicable to the
Company and identified in our opinions in paragraph 2(c) herein);

     iii. all public records reviewed were, when reviewed, and continue to be, accurate and
complete, and all certifications received from public authorities were, when issued, and
continue on the date hereof to be, accurate and complete as to the matters addressed
thereby;

Opinion Matters

F-2

 

     iv. the terms and conditions of the loans as reflected in the Credit Agreement
(collectively, the “Loans”) have not been amended, modified or supplemented by any
other agreement or understanding of the parties or waiver of any of the material provisions
thereof;

     v. immediately prior to the effectiveness of the Credit Agreement each Lender (as
defined in the Existing Credit Agreement) assigned its respective Commitment (as defined in
the Existing Credit Agreement) pursuant to Section 10.06 of the Existing Credit Agreement,
to one or more Lenders under the Credit Agreement, as of the Effective Date;

     vi. each of the L/C Issuers and the Swing Line Lender (each as defined in the Existing
Credit Agreement) consented to the Credit Agreement; and

     vii. the Guarantors have received (or received the benefit of) at least a portion of
the proceeds of the Loans.

     When used in this opinion letter, the phrases “to our knowledge,” “known to us” and the like
means the conscious awareness of the lawyers in the “primary lawyer group” of factual matters such
lawyers recognize as being relevant to the opinion or confirmation so qualified, and does not imply
that we have undertaken any independent investigation within our firm, with the Borrower and/or the
Guarantors or with any third party to determine the existence or absence of any facts or
circumstances, and no inference should be drawn merely from our past or current representation of
the Borrower. Where any opinion or confirmation is qualified by the phrase “to our knowledge,”
“known to us” or the like, it means that the lawyers in the “primary lawyer group” are without any
actual knowledge or conscious awareness that the opinion or confirmation is untrue in any respect
material to the opinion or confirmation. For purposes of this opinion letter, the “primary lawyer
group” means (i) the lawyer who signs his or her name or the name of the firm to this opinion
letter, (ii) the lawyers currently in the firm who are actively involved in preparing or
negotiating this opinion letter, and (iii) the lawyers currently in the firm who are actively
involved in negotiating the Transaction Documents.

     Based upon the foregoing and subject to the qualifications, limitations and exceptions stated
herein, we are of the opinion that, as of the date hereof:

     1. The Company is a corporation validly existing and in good standing under the laws of the
State of Delaware.

     2. The Company has the requisite corporate power and authority to execute, deliver and perform
its obligations under each of the Transaction Documents to which it is a party. Such execution and
delivery, and the repayment of its obligations thereunder:

          (a) have been duly authorized by all necessary and proper corporate action of the Company;

          (b) do not violate the Organization Documents of the Company;

Opinion Matters

F-3

 

          (c) will not violate any law or regulation of the State of New York or any law or regulation
of the United States of America (including, without limitation, Regulations T, U or X), in each
case, applicable to the Company; and

          (d) will not (i) conflict with, violate or constitute a breach of any contract, agreement or
indenture to which the Company is a party or by which the Company or any of its properties is bound
and which is specifically identified to us in the Officer’s Certificate as material to the Company
and its Subsidiaries, taken as a whole, or (ii) to our knowledge, without independent
investigation, and based solely on our review of the Officer’s Certificate, result in the creation
or imposition of any lien, pledge, charge or encumbrance of any nature upon or with respect to any
of the properties of the Company.

     3. Each of the Transaction Documents to which the Company is a party has been duly executed
and delivered by a duly authorized officer or signatory of the Company delivering the same.

     4. No approval by, authorization of, or filing with any agency or instrumentality of the
United States or the State of New York is necessary in connection with the execution and delivery
by the Company of the Transaction Documents to which the Company is a party or the Company’s
performance of its obligations thereunder, except for approvals or authorizations which have been
obtained and filings which have been made.

     5. Each of the Transaction Documents to which the Company is a party constitutes the valid and
binding obligation of the Company enforceable against the Company in accordance with its terms.
Each of the Transaction Documents to which the Guarantors are a party constitutes the valid and
binding obligation of each of the Guarantors, enforceable against each Guarantor in accordance with
its terms.

     6. To our knowledge, without independent investigation, and based solely on our review of the
Officer’s Certificate, there is no pending, or threatened in writing, action, suit, investigation
or proceeding before or by any court, or governmental department, commission, board, bureau,
instrumentality, agency or arbitral authority, which calls into question the validity or
enforceability of any of the Transaction Documents.

     Our opinions above are subject to the following qualifications:

          (i) The opinion set forth in paragraph 5 above is limited by (i) applicable federal or state
bankruptcy, insolvency, reorganization, fraudulent conveyance and transfer, liquidation,
moratorium, receivership or other laws or court decisions now or hereafter in effect relating to or
affecting the rights or remedies of creditors generally, (ii) general principles of equity (whether
applied in a proceeding at law or in equity) including, without limitation, standards of
materiality, good faith and reasonableness in the interpretation and enforcement of contracts, and
the application of such principles to limit the availability of equitable remedies such as specific
performance and injunctive relief and (iii) to the extent that rights of indemnification or
contribution under the Transaction Documents may be limited by federal or state securities laws or
public policy relating thereto. With reference to, and without limiting, the foregoing, we express
no opinion with respect to the applicability of Section 547 or Section 548

Opinion Matters

F-4

 

of the Bankruptcy Code or similar state statutes, or any other federal or state preference or
fraudulent conveyance provision. In particular, we express no opinion as to whether a subsidiary
may guarantee or otherwise become liable for, or pledge its assets to secure, indebtedness incurred
by its parent or another subsidiary of its parent, except to the extent such subsidiary may be
determined to have received a benefit from the incurrence of such indebtedness by its parent or
such other subsidiary, or as to whether such benefit may be measured other than by the extent to
which the proceeds of the indebtedness incurred by the parent or such other subsidiary are directly
or indirectly made available to such subsidiary for its corporate, company or partnership purpose.
We express no opinion as to the solvency, adequacy of capital or ability to pay indebtedness of any
of the Credit Parties.

          (ii) With reference to, but without limiting in any way, qualification (a) above, (i) certain
provisions of the Transaction Documents which could be construed as a penalty or forfeiture, (ii)
provisions indemnifying a party against liability for its own wrongful or negligent acts or
otherwise, (iii) provisions exculpating a party from liability, or waiving defenses, remedies or
other rights, (iv) provisions relieving a person of a fiduciary duty or duty of care imposed by
applicable laws, (v) provisions regarding the recovery of costs or expenses in excess of actual or
reasonable costs or expenses or recovery of attorneys’ fees for a person who is not the prevailing
party in a final proceeding, (vi) provisions that would allow the Agent or any Lender to increase
the interest rate charged during any period to compensate for interest not charged during any other
period in which the interest rate may be deemed usurious, (vii) provisions granting rights of
setoff to Lenders or their Affiliates, (viii) provisions restricting access of a party to courts or
to legal or equitable remedies or purporting to waive or otherwise affect the rights of third
parties, (ix) provisions whereby a party purports to ratify acts in advance of the occurrence of
such acts, (x) provisions containing any stay, extension and usury waivers, (xi) provisions
prohibiting the non-written waiver of modification of any provision of the Transaction Documents,
(xii) provisions purporting to shorten any statue of limitations or waive in advance any defense
with respect to any statute of limitations, (xiii) provisions purporting to grant the Agent or any
Lender the right to bring a suit in the courts of any jurisdiction other than in the courts of the
State of New York or purporting to submit disputes under documents that are not Transaction
Documents to the jurisdiction of the courts of the State of New York or to federal courts sitting
in the State of New York, or (xiv) provisions purporting to waive any immunity from jurisdiction of
any court or from any legal process, are or may be unenforceable in whole or in part under the laws
of the State of New York or the policies adopted by its courts.

          (iii) We express no opinion as to the validity, binding effect or enforceability of any
provision of any document, agreement, instrument or writing referred to in, incorporated by
reference or otherwise mentioned in the Transaction Documents (other than another Transaction
Document).

          (iv) We express no opinion as to the enforceability of any provision of the Transaction
Documents that purports to bind the Company or any Guarantor after the obligations created,
evidenced, guaranteed or secured by such Transaction Documents have been repaid in full.

Opinion Matters

F-5

 

          (v) We express no opinion as to the enforceability of any provision of the Transaction
Documents that purports to require the Company or any Guarantor to cause any Person that is not a
subsidiary of the Company or of any Guarantor to take any action.

          (vi) We express no opinion as to the effect of any state or federal laws or regulations
applicable to the Agent or holder of any Note because of the Agent’s or such holder’s legal or
regulatory status or nature of the Agent’s or such holder’s business.

          (vii) We express no opinion as to the validity or enforceability of the provisions of
Article IX of the Credit Agreement relating solely to obligations by and among the Lenders
and/or the Agent, and any other provision of the Transaction Documents relating solely to
obligations by and among the Lenders and/or the Agent.

          (viii) Our opinion in paragraph 4 above as to approval, or authorization of, or filing with,
any governmental agency or instrumentality and in paragraph 2(c) above as to laws and regulations,
is based upon a review of those laws, statutes, rules or regulations that, in our experience, are
normally applicable to the transactions of the type contemplated by the Transaction Documents.

     Although we have acted as counsel to the Company and the Guarantors in connection with certain
other matters, our engagement is limited to certain matters about which we have been consulted.
Consequently, there may exist matters of a legal nature involving the Company and the Guarantors in
connection with which we have not been consulted and have not represented the Company or any of the
Guarantors.

     The opinions set forth herein are based in part upon the federal and state laws, statutes,
rules, regulations, judgments, orders, writs or decrees of any governmental authorities as they are
currently compiled and reported on by customary reporting services. It is possible that
legislation or judicial rulings affecting the opinions expressed herein might have been enacted
into law or entered that are not reflected in such reporting services. We are not currently aware
of the passage of any such legislation or the entering of any such ruling. However, it is not
possible for us to know with certainty as of the date of this letter whether any such legislation
may have been passed into law or any such ruling may have been entered.

     The foregoing opinions are limited to the laws and regulations of the State of New York, to
the laws and regulations of the United States, and to the Delaware General Corporation Law, and we
express no opinion with respect to the laws of any other State or jurisdiction. We hereby advise
you, however, that while we are familiar with the Delaware General Corporation Law, we are not
members of the Bar of the State of Delaware.

     This opinion is limited to the matters expressly stated herein and no opinions are to be
inferred or may be implied beyond the matters expressly so stated. We assume no obligation to
supplement this opinion if any applicable laws change after the date of this opinion, or if we
become aware of any facts that might change the opinions expressed above after the date of this
opinion.

     This opinion letter is furnished by us solely for your benefit and the benefit of your
successors and your assigns under the Credit Agreement, and it may not be relied upon, quoted

Opinion Matters

F-6

 

from or delivered to any Person other than (i) to your successors and your assigns under the
Credit Agreement, (ii) to your legal counsel and the legal counsel of your successors and your
assigns under the Credit Agreement, (iii) pursuant to the request of any regulatory body or any
legal process or as may otherwise be required by applicable law, or (iv) in connection with your
administration of the Credit Agreement (including any enforcement of remedies thereunder).

Very truly yours,

 Opinion Matters

F-7

 

EXHIBIT G

FORM OF REPORT OF LETTER OF CREDIT INFORMATION

	 	 	 

	To:

	 	Bank of America, N.A. as Administrative Agent
	Attn:
	 	 
	Phone No.:
	 	 
	Fax No.:
	 	 
	 
	Ref.:

	 	Letters of Credit
	 
	 

	 	Issued for the account of Republic Services, Inc. or any Subsidiary thereof
under the Amended and Restated Credit Agreement dated as of April 20, 2011

Reporting Period :___/___/20__ through___/___/20__

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Escalating	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Y/N(?)	 	 	 	 	 	 	 	 	 	Auto	 	 	 	 	 	 
	 	 	Maximum	 	Current	 	If “Y”	 	 	 	 	 	 	 	 	 	Renewal	 		 		 	 
	 	 	Face	 	Face	 	Provide	 	Beneficiary	 	Issuance	 	Expiry	 	Auto	 	Period/	 	Date of	 	Amount of	 	Type of 
	L/C No.	 	Amount	 	Amount	 	Schedule*	 	Name	 	Date	 	Date	 	Renewal	 	Notice	 	Amendment	 	Amendment	 	Amendment
	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 

Form of Report of Letter of Credit Information

G-1

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