Document:

exv10w1

 

Exhibit 10.1

[Published CUSIP Number: ____]

FORM
OF

CREDIT AGREEMENT

Dated as of [__________] [__], 2011

among

TESORO LOGISTICS LP,

as the Borrower

BANK OF AMERICA, N.A.,

as Administrative Agent and

L/C Issuer,

and

The Other Lenders Party Hereto

MERRILL, LYNCH, PIERCE, FENNER & SMITH INCORPORATED,

as Sole Lead Arranger and Sole Book Manager

 

 

TABLE OF CONTENTS

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Page	 
	 	 	 	 	 
	 	 	 	 
	ARTICLE I	 	DEFINITIONS AND ACCOUNTING TERMS
	 	 	1	 
	 	 	 	 	 
	 	 	 	 
	 	1.01	 	 	Defined Terms
	 	 	1	 
	 	1.02	 	 	Other Interpretive Provisions
	 	 	28	 
	 	1.03	 	 	Accounting Terms
	 	 	28	 
	 	1.04	 	 	Rounding
	 	 	29	 
	 	1.05	 	 	Times of Day
	 	 	29	 
	 	1.06	 	 	Letter of Credit Amounts
	 	 	29	 
	 	1.07	 	 	Currency Equivalents Generally
	 	 	29	 
	 	 	 	 	 
	 	 	 	 
	ARTICLE II	 	THE COMMITMENTS AND CREDIT EXTENSIONS
	 	 	30	 
	 	 	 	 	 
	 	 	 	 
	 	2.01	 	 	The Loans
	 	 	30	 
	 	2.02	 	 	Borrowings, Conversions and Continuations of Loans
	 	 	30	 
	 	2.03	 	 	Letters of Credit
	 	 	31	 
	 	2.04	 	 	Prepayments
	 	 	40	 
	 	2.05	 	 	Termination or Reduction of Commitments
	 	 	40	 
	 	2.06	 	 	Repayment of Revolving Credit Loans
	 	 	41	 
	 	2.07	 	 	Interest
	 	 	41	 
	 	2.08	 	 	Fees
	 	 	41	 
	 	2.09	 	 	Computation of Interest and Fees; Retroactive
Adjustments of Applicable Rate
	 	 	42	 
	 	2.10	 	 	Evidence of Debt
	 	 	43	 
	 	2.11	 	 	Payments Generally; Administrative Agent’s Clawback
	 	 	43	 
	 	2.12	 	 	Sharing of Payments by Lenders
	 	 	45	 
	 	2.13	 	 	Increase in Commitments
	 	 	46	 
	 	2.14	 	 	Cash Collateral
	 	 	47	 
	 	2.15	 	 	Defaulting Lenders
	 	 	48	 
	 	 	 	 	 
	 	 	 	 
	ARTICLE III	 	TAXES, YIELD PROTECTION AND ILLEGALITY
	 	 	50	 
	 	 	 	 	 
	 	 	 	 
	 	3.01	 	 	Taxes
	 	 	50	 
	 	3.02	 	 	Illegality
	 	 	54	 
	 	3.03	 	 	Inability to Determine Rates
	 	 	54	 
	 	3.04	 	 	Increased Costs; Reserves on Eurodollar Rate Loans
	 	 	55	 

-i-

 

TABLE OF CONTENTS

(continued)

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Page	 
	 	3.05	 	 	Compensation for Losses
	 	 	57	 
	 	3.06	 	 	Mitigation Obligations; Replacement of Lenders
	 	 	57	 
	 	3.07	 	 	Survival
	 	 	58	 
	 	 	 	 	 
	 	 	 	 
	ARTICLE IV	 	CONDITIONS PRECEDENT TO CREDIT EXTENSIONS
	 	 	58	 
	 	 	 	 	 
	 	 	 	 
	 	4.01	 	 	Conditions of Initial Credit Extension
	 	 	58	 
	 	4.02	 	 	Conditions to all Credit Extensions
	 	 	62	 
	 	 	 	 	 
	 	 	 	 
	ARTICLE V	 	REPRESENTATIONS AND WARRANTIES
	 	 	63	 
	 	 	 	 	 
	 	 	 	 
	 	5.01	 	 	Existence, Qualification and Power
	 	 	63	 
	 	5.02	 	 	Authorization; No Contravention
	 	 	63	 
	 	5.03	 	 	Governmental Authorization; Other Consents
	 	 	63	 
	 	5.04	 	 	Binding Effect
	 	 	64	 
	 	5.05	 	 	Financial Statements; No Material Adverse Effect
	 	 	64	 
	 	5.06	 	 	Litigation
	 	 	64	 
	 	5.07	 	 	No Default
	 	 	65	 
	 	5.08	 	 	Title; Etc.
	 	 	65	 
	 	5.09	 	 	Environmental Compliance; Permits
	 	 	67	 
	 	5.10	 	 	Insurance
	 	 	68	 
	 	5.11	 	 	Taxes
	 	 	68	 
	 	5.12	 	 	ERISA Compliance
	 	 	68	 
	 	5.13	 	 	Subsidiaries; Equity Interests; Loan Parties
	 	 	69	 
	 	5.14	 	 	Margin Regulations; Investment Company Act
	 	 	69	 
	 	5.15	 	 	Disclosure
	 	 	69	 
	 	5.16	 	 	Compliance with Laws
	 	 	70	 
	 	5.17	 	 	Intellectual
Property; Licenses, Etc.
	 	 	70	 
	 	5.18	 	 	Solvency
	 	 	70	 
	 	5.19	 	 	[Intentionally Omitted]
	 	 	70	 
	 	5.20	 	 	Labor Matters
	 	 	70	 
	 	5.21	 	 	Collateral Documents
	 	 	70	 
	 	5.22	 	 	State and Federal Regulation
	 	 	71	 
	 	5.23	 	 	Title to Crude Oil and Refined Products
	 	 	73	 

-ii-

 

TABLE OF CONTENTS

(continued)

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Page	 
	ARTICLE VI	 	AFFIRMATIVE COVENANTS
	 	 	73	 
	 	 	 	 	 
	 	 	 	 
	 	6.01	 	 	Financial Statements
	 	 	74	 
	 	6.02	 	 	Certificates; Other Information
	 	 	74	 
	 	6.03	 	 	Notices
	 	 	77	 
	 	6.04	 	 	Payment of Obligations
	 	 	77	 
	 	6.05	 	 	Preservation
of Existence, Etc.
	 	 	78	 
	 	6.06	 	 	Maintenance of Properties
	 	 	78	 
	 	6.07	 	 	Maintenance of Insurance; Insurance Proceeds
	 	 	79	 
	 	6.08	 	 	Compliance with Laws
	 	 	79	 
	 	6.09	 	 	Books and Records
	 	 	80	 
	 	6.10	 	 	Inspection Rights
	 	 	80	 
	 	6.11	 	 	Use of Proceeds
	 	 	80	 
	 	6.12	 	 	Covenant to Guarantee Obligations and Give Security
	 	 	80	 
	 	6.13	 	 	Compliance with Environmental Laws
	 	 	83	 
	 	6.14	 	 	Further Assurances
	 	 	83	 
	 	6.15	 	 	Compliance with Terms of Leaseholds
	 	 	84	 
	 	6.16	 	 	Material Contracts
	 	 	84	 
	 	6.17	 	 	Utah FERC Jurisdictional Requirement
	 	 	84	 
	 	6.18	 	 	Post Closing Agreement
	 	 	85	 
	 	 	 	 	 
	 	 	 	 
	ARTICLE VII	 	NEGATIVE COVENANTS
	 	 	85	 
	 	 	 	 	 
	 	 	 	 
	 	7.01	 	 	Liens
	 	 	85	 
	 	7.02	 	 	Indebtedness
	 	 	86	 
	 	7.03	 	 	Investments
	 	 	88	 
	 	7.04	 	 	Fundamental Changes
	 	 	89	 
	 	7.05	 	 	Dispositions
	 	 	89	 
	 	7.06	 	 	Restricted Payments
	 	 	90	 
	 	7.07	 	 	Change in Nature of Business
	 	 	91	 
	 	7.08	 	 	Transactions with Affiliates
	 	 	91	 
	 	7.09	 	 	Burdensome Agreements
	 	 	91	 
	 	7.10	 	 	Use of Proceeds
	 	 	91	 

-iii-

 

TABLE OF CONTENTS

(continued)

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Page	 
	 	7.11	 	 	Financial Covenants
	 	 	91	 
	 	7.12	 	 	[Intentionally Omitted]
	 	 	92	 
	 	7.13	 	 	Amendments of Organization Documents
	 	 	92	 
	 	7.14	 	 	Accounting Changes
	 	 	92	 
	 	7.15	 	 	Prepayments,
Etc.
	 	 	92	 
	 	7.16	 	 	Amendment,
Etc.
	 	 	92	 
	 	7.17	 	 	Limitation on Speculative Hedging
	 	 	92	 
	 	 	 	 	 
	 	 	 	 
	ARTICLE VIII	 	EVENTS OF DEFAULT AND REMEDIES
	 	 	92	 
	 	 	 	 	 
	 	 	 	 
	 	8.01	 	 	Events of Default
	 	 	92	 
	 	8.02	 	 	Remedies upon Event of Default
	 	 	95	 
	 	8.03	 	 	Application of Funds
	 	 	95	 
	 	 	 	 	 
	 	 	 	 
	ARTICLE IX	 	ADMINISTRATIVE AGENT
	 	 	97	 
	 	 	 	 	 
	 	 	 	 
	 	9.01	 	 	Appointment and Authority
	 	 	97	 
	 	9.02	 	 	Rights as a Lender
	 	 	97	 
	 	9.03	 	 	Exculpatory Provisions
	 	 	97	 
	 	9.04	 	 	Reliance by Administrative Agent
	 	 	98	 
	 	9.05	 	 	Delegation of Duties
	 	 	99	 
	 	9.06	 	 	Resignation of Administrative Agent
	 	 	99	 
	 	9.07	 	 	Non-Reliance on Administrative Agent and Other Lenders
	 	 	100	 
	 	9.08	 	 	No Other
Duties, Etc.
	 	 	100	 
	 	9.09	 	 	Administrative Agent May File Proofs of Claim
	 	 	100	 
	 	9.10	 	 	Collateral and Guaranty Matters
	 	 	101	 
	 	9.11	 	 	Secured Cash Management Agreements and Secured Hedge
Agreements
	 	 	102	 
	 	 	 	 	 
	 	 	 	 
	ARTICLE X	 	MISCELLANEOUS
	 	 	102	 
	 	 	 	 	 
	 	 	 	 
	 	10.01	 	 	Amendments,
Etc.
	 	 	102	 
	 	10.02	 	 	Notices; Effectiveness; Electronic Communications
	 	 	104	 
	 	10.03	 	 	No Waiver; Cumulative Remedies; Enforcement
	 	 	106	 
	 	10.04	 	 	Expenses; Indemnity; Damage Waiver
	 	 	106	 
	 	10.05	 	 	Payments Set Aside
	 	 	108	 
	 	10.06	 	 	Successors and Assigns
	 	 	108	 

-iv-

 

TABLE OF CONTENTS

(continued)

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Page	 
	 	10.07	 	 	Treatment of Certain Information; Confidentiality
	 	 	113	 
	 	10.08	 	 	Right of Setoff
	 	 	113	 
	 	10.09	 	 	Interest Rate Limitation
	 	 	114	 
	 	10.10	 	 	Counterparts; Integration; Effectiveness
	 	 	114	 
	 	10.11	 	 	Survival of Representations and Warranties
	 	 	115	 
	 	10.12	 	 	Severability
	 	 	115	 
	 	10.13	 	 	Replacement of Lenders
	 	 	115	 
	 	10.14	 	 	Governing
Law; Jurisdiction; Etc.
	 	 	116	 
	 	10.15	 	 	Waiver of Jury Trial
	 	 	117	 
	 	10.16	 	 	No Advisory or Fiduciary Responsibility
	 	 	117	 
	 	10.17	 	 	Electronic Execution of Assignments and Certain Other Documents
	 	 	117	 
	 	10.18	 	 	USA PATRIOT Act
	 	 	118	 
	 	10.19	 	 	ENTIRE AGREEMENT
	 	 	118	 

-v-

 

TABLE OF CONTENTS

(continued)

	 	 	 	 	 

	SCHEDULES	 	 

	 	 	 	 	 

	 	2.01	 	 	Commitments and Applicable Percentages

	 	4.01(a)(iv)	 	Leased Real Properties

	 	5.06	 	 	Litigation

	 	5.09	 	 	Environmental Matters

	 	5.11	 	 	Certain Tax Information

	 	5.13	 	 	Subsidiaries and Other Equity Investments; Loan Parties

	 	5.22(a)	 	 	Federal Regulation Matters

	 	6.12	 	 	Subsidiary Guarantors

	 	7.01	 	 	Existing Liens

	 	7.02	 	 	Existing Indebtedness

	 	7.03	 	 	Existing Investments

	 	7.09	 	 	Burdensome Agreements

	 	10.02	 	 	Administrative Agent’s Office, Certain Addresses for Notices

	 	 	 	 	 

	EXHIBITS	 	 

	 	 	 	 	 

	 	Form of	 	 

	 	A	 	 	Revolving Credit Loan Notice

	 	B	 	 	Note

	 	C	 	 	Compliance Certificate

	 	D-1	 	 	Assignment and Assumption

	 	D-2	 	 	Administrative Questionnaire

	 	E	 	 	Uniform System of Accounts

-vi-

 

CREDIT AGREEMENT

This CREDIT AGREEMENT (“Agreement”) is entered into as of [_________] [__], 2011, among
TESORO LOGISTICS LP, a Delaware limited partnership (the “Borrower”), each lender from time
to time party hereto (collectively, the “Lenders” and individually, a “Lender”),
and BANK OF AMERICA, N.A., as Administrative Agent and L/C Issuer.

PRELIMINARY STATEMENTS:

The Borrower has requested that the Lenders provide a revolving credit facility, and the Lenders
have indicated their willingness to lend and the L/C Issuer has indicated its willingness to issue
letters of credit, in each case, on the terms and subject to the 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 Defined Terms. As used in this Agreement, the following terms shall have the meanings
set forth below:

     “Acquisition” means the acquisition, directly or indirectly, by any Person of (a) a
majority of the Equity Interests of another Person, (b) all or substantially all of the assets of
another Person or (c) all or substantially all of a line of business or division of another Person,
in each case (i) whether or not involving a merger or a consolidation with such other Person and
(ii) whether in one transaction or a series of related transactions.

     “Acquisition Consideration” means, in connection with any Acquisition, the total cash
and noncash consideration (including the fair market value of all Equity Interests issued or
transferred to the sellers thereof, earnouts and other contingent payment obligations to, and all
assumptions of debt, liabilities and other obligations in connection therewith) paid by or on
behalf of the Borrower and its Subsidiaries for such Acquisition; provided, that any
contingent future payment shall be considered Acquisition Consideration only to the extent of the
reserve, if any, required under GAAP at the time of such sale to be established in respect thereof
by the Borrower or any Subsidiary.

     “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 D-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.

     “Agreement” means this Credit Agreement.

     “Applicable Fee Rate” means, at any time, 0.50% per annum.

     “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 2.15. If the
commitment of each Lender to make Loans and the obligation of the L/C Issuers to make L/C Credit
Extensions have been terminated pursuant to Section 8.02, or if the Commitments have
expired, then the Applicable Percentage of each Lender in respect of the Aggregate Commitments
shall be determined based on the Applicable Percentage of such Lender in respect of the Aggregate
Commitments 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 (i) from the Closing Date to the date on which the
Administrative Agent receives a Compliance Certificate pursuant to Section 6.02(b) for the
fiscal quarter ending June 30, 2011, 1.50% per annum for Base Rate Loans and 2.50% per annum for
Eurodollar Rate Loans and Letter of Credit Fees and (ii) thereafter, the applicable percentage per
annum set forth below determined by reference to the Consolidated Leverage Ratio as set forth in
the most recent Compliance Certificate received by the Administrative Agent pursuant to Section
6.02(b):

Applicable Rate

	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	Eurodollar Rate	 	 
	Pricing Level	 	Consolidated Leverage Ratio	 	(Letters of Credit)	 	Base Rate
	1

	 	< 2.25:1
	 	 	2.50	%	 	 	1.50	%
	2

	 	3 2.25:1 but < 3.00:1
	 	 	2.75	%	 	 	1.75	%
	3

	 	3 3.00:1 but < 3.75:1
	 	 	3.00	%	 	 	2.00	%
	4

	 	3 3.75:1
	 	 	3.25	%	 	 	2.25	%

Any increase or decrease in the Applicable Rate resulting from a change in the Consolidated
Leverage Ratio shall become effective as of the third Business Day immediately following the date a
Compliance Certificate is delivered pursuant to Section 6.02(b); provided,
however, that if a Compliance Certificate is not delivered when due in accordance with such
Section, then Pricing Level 4 shall apply as of the first Business Day after the date on which such
Compliance Certificate was required to have been delivered and in each case shall remain in effect
until the date on which such Compliance Certificate is delivered.

-2-

 

Notwithstanding anything to the contrary contained in this definition, the determination of the
Applicable Rate for any period shall be subject to the provisions of Section 2.09(b).

     “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 sole 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 Eligible 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 D-1 or any other form approved by the Administrative Agent.

     “Attributable Indebtedness” means, on any date, (a) in respect of any Capitalized
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, (b) in respect of any Synthetic Lease
Obligation, the capitalized amount of the remaining lease or similar payments under the relevant
lease or other applicable agreement or instrument that would appear on a balance sheet of such
Person prepared as of such date in accordance with GAAP if such lease or other agreement or
instrument were accounted for as a Capitalized Lease and (c) all Synthetic Debt of such Person.

     “Audited Financial Statements” means the audited combined balance sheet of Borrower’s
Predecessor and its Subsidiaries for the fiscal year ended December 31, 2010, and the related
combined statements of income or operations, partners’ capital, retained earnings and cash flows
for such fiscal year of Borrower’s Predecessor and its Subsidiaries, including the notes thereto.

     “Availability Period” means the period from and including the Closing Date to the
earliest of (i) the Maturity Date, (ii) the date of termination of the Commitments pursuant to
Section 2.05, and (iii) the date of termination of the commitment of each Lender to make
Revolving Credit Loans and of the obligation of the L/C Issuers to make L/C Credit Extensions
pursuant to Section 8.02.

     “Available Cash” has the meaning set forth in the Borrower Partnership Agreement.

     “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 1.00%. 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

-3-

 

take effect at the opening of business on the day specified in the public announcement of such
change.

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

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

     “Borrower Partnership Agreement” means that certain First Amended and Restated
Agreement of Limited Partnership of Tesoro Logistics LP dated as of [_________] [__], 2011, among
the General Partner, Tesoro, Tesoro Alaska, TRMC and the other limited partners party thereto.

     “Borrower’s Predecessor” means Tesoro Logistics LP Predecessor, the Borrower’s
predecessor for accounting purposes as set forth in the Registration Statement.

     “Business” means the ownership, operation, development and acquisition of Crude Oil
and Refined Products logistics assets.

     “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.

     “Capitalized Leases” means all leases that have been or should be, in accordance with
GAAP, recorded as capitalized leases.

     “Cash Collateralize” means to pledge and deposit with or deliver to the Administrative
Agent, for the benefit of the Administrative Agent or an L/C Issuer (as applicable) and the
Lenders, as collateral for L/C Obligations or obligations of Lenders to fund participations in
respect  thereof (as the context may require), cash or deposit account balances or, if the
applicable L/C Issuer 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 applicable L/C Issuer. “Cash Collateral” shall have a meaning correlative to the
foregoing and shall include the proceeds of such cash collateral and other credit support.

     “Cash Equivalents” means any of the following types of Investments, to the extent
owned by the Borrower or any of its Subsidiaries free and clear of all Liens (other than Liens
created under the Collateral Documents and other Liens permitted hereunder):

     (a) readily marketable obligations issued or directly and fully guaranteed or insured by the
United States of America or any agency or instrumentality thereof having maturities of not more
than 360 days from the date of acquisition thereof; provided that the full faith and credit
of the United States of America is pledged in support thereof;

     (b) Dollar-denominated time deposits with, or Dollar-denominated insured certificates of
deposit or Dollar-denominated bankers’ acceptances of, any commercial bank that (i) (A) is a
Lender, or (B) is organized under the laws of the United States of America, any state thereof or
the District of Columbia or is the principal banking subsidiary of a bank holding

-4-

 

company organized under the laws of the United States of America, any state thereof or the
District of Columbia, and is a member of the Federal Reserve System; (ii) issues (or the parent of
which issues) commercial paper rated as described in clause (c) of this definition; and (iii) has
combined capital and surplus of at least $1,000,000,000, in each case with maturities of not more
than 180 days from the date of acquisition thereof;

     (c) commercial paper issued by any Person organized under the laws of any state of the United
States of America and rated at least “Prime-1” (or the then equivalent grade) by Moody’s or
at least “A-1” (or the then equivalent grade) by S&P, in each case with maturities of not
more than 180 days from the date of acquisition thereof; and

     (d) Investments, classified in accordance with GAAP as current assets of the Borrower or any
of its Subsidiaries, in money market investment programs registered under the Investment Company
Act of 1940, which are administered by financial institutions that have the highest rating
obtainable from either Moody’s or S&P, and the portfolios of which are limited solely to
Investments of the character, quality and maturity described in clauses (a), (b) and (c) of this
definition.

     “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, at the time it enters into a Cash
Management Agreement, is a Lender or an Affiliate of a Lender, in its capacity as a party to such
Cash Management Agreement.

     “CERCLA” means the Comprehensive Environmental Response, Compensation and Liability
Act of 1980.

     “CERCLIS” means the Comprehensive Environmental Response, Compensation and Liability
Information System maintained by the U.S. Environmental Protection Agency.

     “CFC” means a Person that is a controlled foreign corporation under Section 957 of the
Code.

     “Change in Law” means the occurrence, after the date of this Agreement, of any of the
following: (a) the adoption or taking effect of any law, rule, regulation or treaty, (b) any change
in any law, rule, regulation or treaty or in the administration, interpretation or application
thereof by any Governmental Authority or (c) the making or issuance of any request, guideline or
directive (whether or not having the force of law) by any Governmental Authority; provided
that notwithstanding anything herein to the contrary, the Dodd-Frank Wall Street Reform and
Consumer Protection Act and all requests, rules, guidelines or directives thereunder or issued in
connection therewith shall be deemed to be a “Change in Law”, regardless of the date enacted,
adopted or issued.

     “Change of Control” means any of the following events or conditions: (a) the General
Partner shall cease to be the sole general partner of the Borrower; (b) Tesoro shall cease,
directly or indirectly, to own and control legally and beneficially more than 50% of the Equity
Interests

-5-

 

in the General Partner; or (c) the Borrower shall cease, directly or indirectly, to own and
control legally and beneficially all of the Equity Interests of Opco, Tesoro High Plains or any
other Subsidiary Guarantor.

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

     “Closing Date Distribution” means (a) the $50,000,000 distribution from the Borrower
to the General Partner on the date of the initial Revolving Credit Borrowing under this Agreement
and (b) the distributions of the net proceeds of the Common Units offering (after certain
deductions) from the Borrower to Tesoro and certain of its Affiliates on the date of the initial
Revolving Credit Borrowing under this Agreement, as further described in the Registration
Statement.

     “Code” means the Internal Revenue Code of 1986.

     “Collateral” means all of the “Collateral” and “Mortgaged Property”
referred to in the Collateral Documents and all of the other property that is or is intended under
the terms of the Collateral Documents to be subject to Liens in favor of the Administrative Agent
for the benefit of the Secured Parties.

     “Collateral Documents” means, collectively, the Security Agreement, the Mortgages,
each of the mortgages, collateral assignments, Security Agreement Supplements, IP Security
Agreement Supplements, security agreements, pledge agreements or other similar agreements delivered
to the Administrative Agent pursuant to Section 6.12, and each of the other agreements,
instruments or documents that creates or purports to create a Lien in favor of the Administrative
Agent for the benefit of the Secured Parties.

     “Collateral Loss” means any loss, damage, destruction or other casualty to, or any
condemnation of, any Collateral.

     “Commitment” means, as to each Lender, its obligation to (a) make Revolving Credit
Loans to the Borrower pursuant to Section 2.01 and (b) purchase participations in L/C
Obligations, 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 under the caption
“Commitment” or opposite such caption 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.

     “Common Units” means the common units and subordinated units representing limited
partner interests in the Borrower.

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

     “Consolidated EBITDA” means, at any date of determination, an amount equal to
Consolidated Net Income of the Borrower and its Subsidiaries on a consolidated basis for the most
recently completed Measurement Period plus (a) the following to the extent deducted in
calculating such Consolidated Net Income: (i) Consolidated Interest Charges, (ii) the provision

-6-

 

for Federal, state, local and foreign income taxes payable, (iii) depreciation and
amortization expense, (iv) any charges or expenses (other than depreciation or amortization
expense) directly incurred in connection with any Acquisition or Disposition permitted by this
Agreement, in an aggregate amount not to exceed 10% of Consolidated EBITDA (as shown on the
consolidated financial statements of the Borrower and its Subsidiaries most recently delivered to
the Administrative Agent in accordance with Section 6.01 but without giving effect to this
clause (iv) in such calculation) for any Measurement Period, and (v) other expenses reducing such
Consolidated Net Income which do not represent a cash item in such period or any future period (in
each case of or by the Borrower and its Subsidiaries for such Measurement Period) and minus
(b) the following to the extent included in calculating such Consolidated Net Income: (i) Federal,
state, local and foreign income tax credits and (ii) all non-cash items increasing Consolidated Net
Income (in each case of or by the Borrower and its Subsidiaries for such Measurement Period).
Consolidated EBITDA shall be calculated for each Measurement Period, on a pro forma basis, after
giving effect to, without duplication, any Acquisition, Disposition or Uncovered Collateral Loss
occurring during each period commencing on the first day of such period to and including the date
of such transaction (the “Reference Period”) as if such Acquisition, Disposition or
Uncovered Collateral Loss and any related incurrence or repayment of Indebtedness occurred on the
first day of the Reference Period. In making the calculation contemplated by the preceding
sentence, Consolidated EBITDA generated or to be generated by such acquired, divested or damaged or
condemned property or Person shall be determined in good faith by the Borrower based on reasonable
assumptions; provided, however, that (A) such pro forma calculations shall be reasonably
acceptable to the Administrative Agent if such pro forma adjustments to Consolidated EBITDA exceed
the lesser of (x) $20,000,000 for any one Acquisition or Disposition or Uncovered Collateral Loss,
as applicable, and (y) thirty percent (30%) of the Consolidated EBITDA for the Borrower and its
Subsidiaries on a consolidated basis prior to such adjustment and (B) no such pro forma adjustments
shall be allowed unless, not less than thirty (30) days after the end of such period, the
Administrative Agent shall have received such written documentation as the Administrative Agent may
reasonably request, all in form and substance reasonably satisfactory to the Administrative Agent,
supporting such pro forma adjustments.

     “Consolidated Funded Indebtedness” means, as of any date of determination, for the
Borrower and its Subsidiaries on a consolidated basis, the sum of (a) the outstanding principal
amount of all obligations, whether current or long-term, for borrowed money (including Obligations
hereunder) and all obligations evidenced by bonds, debentures, notes, loan agreements or other
similar instruments, (b) all purchase money Indebtedness, (c) all direct obligations arising under
letters of credit (including standby and commercial), bankers’ acceptances, bank guaranties, surety
bonds and similar instruments, (d) all obligations in respect of the deferred purchase price of
property or services (other than trade accounts payable in the ordinary course of business), (e)
all Attributable Indebtedness, (f) without duplication, all Guarantees with respect to outstanding
Indebtedness of the types specified in clauses (a) through (e) above of Persons other than the
Borrower or any Subsidiary, and (g) all Indebtedness of the types referred to in clauses (a)
through (f) above of any partnership or joint venture (other than a joint venture that is itself a
corporation or limited liability company) in which the Borrower or a Subsidiary is a general
partner or joint venturer, unless such Indebtedness is expressly made non-recourse to the Borrower
or such Subsidiary.

-7-

 

     “Consolidated Interest Charges” means, for any Measurement Period, the sum of (a) all
interest, premium payments, debt discount, fees, charges and related expenses in connection with
borrowed money (including capitalized interest) or in connection with the deferred purchase price
of assets, in each case to the extent (i) paid in cash or required to have been paid in cash and
(ii) treated as interest in accordance with GAAP, (b) all interest paid or payable with respect to
discontinued operations and (c) the portion of rent expense under Capitalized Leases that is
treated as interest in accordance with GAAP, in each case, of or by the Borrower and its
Subsidiaries on a consolidated basis for the most recently completed Measurement Period.

     “Consolidated Interest Coverage Ratio” means, as of any date of determination, the
ratio of (a) Consolidated EBITDA to (b) Consolidated Interest Charges, in each case, of or by the
Borrower and its Subsidiaries on a consolidated basis for the most recently completed Measurement
Period.

     “Consolidated Leverage Ratio” means, as of any date of determination, the ratio of (a)
Consolidated Funded Indebtedness as of such date to (b) Consolidated EBITDA of the Borrower and its
Subsidiaries on a consolidated basis for the most recently completed Measurement Period.

     “Consolidated Net Income” means, at any date of determination, the net income (or
loss) of the Borrower and its Subsidiaries on a consolidated basis for the most recently completed
Measurement Period; provided that Consolidated Net Income shall exclude (a) extraordinary
gains and extraordinary losses for such Measurement Period, (b) the net income of any Subsidiary
during such Measurement Period to the extent that the declaration or payment of dividends or
similar distributions by such Subsidiary of such income is not permitted by operation of the terms
of its Organization Documents or any agreement, instrument or Law applicable to such Subsidiary
during such Measurement Period, except that the Borrower’s equity in any net loss of any such
Subsidiary for such Measurement Period shall be included in determining Consolidated Net Income,
and (c) any income (or loss) for such Measurement Period of any Person if such Person is not a
Subsidiary, except that the Borrower’s equity in the net income of any such Person for such
Measurement Period shall be included in Consolidated Net Income up to the aggregate amount of cash
actually distributed by such Person during such Measurement Period to the Borrower or a Subsidiary
as a dividend or other distribution (and in the case of a dividend or other distribution to a
Subsidiary, such Subsidiary is not precluded from further distributing such amount to the Borrower
as described in clause (b) of this proviso).

     “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.

     “Contributed Assets” means the assets contributed or otherwise transferred by the
applicable Contributing Affiliate to any Loan Party, whether prior to or after the Closing Date,
including without limitation the assets contributed by certain Contributing Affiliates to the Loan
Parties on or prior to the Closing Date as described in the Registration Statement.

-8-

 

     “Contributing Affiliates” means Tesoro, TRMC, Tesoro Alaska and any other Affiliate of
Tesoro that contributes or otherwise transfers assets to any Loan Party, whether prior to or after
the Closing Date.

     “Contribution Agreement” means the Contribution, Conveyance and Assumption Agreement,
dated as of [________] [__], 2011 among the Borrower, the General Partner, OpCo, Tesoro, Tesoro
Alaska, TRMC and Tesoro High Plains.

     “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 Revolving Credit Borrowing and
(b) an L/C Credit Extension.

     “Crude Oil” means the unrefined mixture of liquid hydrocarbons, of any grade or
specific gravity, commonly known as petroleum or oil.

     “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.

     “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, unless cured or waived during
any applicable grace or cure period, be an Event of Default.

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

     “Defaulting Lender” means, subject to Section 2.15(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 participations in respect of Letters of Credit,
within three Business Days of the date required to be funded by it hereunder unless such Lender
notifies the Administrative Agent and the Borrower in writing that such failure is the result of
such Lender’s good faith 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, (b) has notified the Borrower, or the Administrative Agent
or any Lender in writing 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 generally
under other agreements in which it commits to extend credit, (c) has failed, within three Business
Days after written request by the Administrative Agent, to confirm in writing to

-9-

 

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.

     “Disclosed Litigation” has the meaning set forth in Section 5.06.

     “Disposition” or “Dispose” means the sale, transfer, license, lease or other
disposition (including any sale and leaseback transaction) of any property by any Person (or the
granting of any option or other right to do any of the foregoing), 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.

     “Distribution Payments” means any cash distribution or dividend by the Borrower on, or
in respect of any retirement, purchase, redemption, or other acquisition of, any Equity Interests.

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

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

     “Eligible Assignee” means 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)).

     “Energy
Policy Act” means the Energy Policy Act of 1992, Pub. L. No. 102-486, 106 Stat.
2776 (codified as amended in scattered sections of 15, 16, 25, 20, 42 U.S.C.).

     “Environmental Laws” means any and all Federal, state, local, and foreign statutes,
laws, regulations, ordinances, rules, judgments, orders, decrees, permits, or 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, any other Loan Party, any of their respective Subsidiaries or any Contributing Affiliate
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.

-10-

 

     “Environmental Permit” means any permit, approval, identification number, license or
other authorization required under any Environmental Law.

     “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 (provided, however, that debt securities that are or by their terms may be
convertible or exchangeable into or for Equity Interests shall not constitute Equity Interests
prior to conversion or exchange thereof).

     “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 Sections 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 the 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 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, the treatment of a Pension Plan 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; or (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 the Borrower or any ERISA
Affiliate.

     “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

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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 Revolving Credit 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.

     “Exchange Act” means the Securities Exchange Act of 1934.

     “Excluded Taxes” means, with respect to the Administrative Agent, any Lender, any L/C
Issuer or any other recipient of any payment to be made by or on account of any obligation of the
Borrower hereunder, (a) taxes imposed on or measured by its overall net income, profits, or capital
(however denominated), and franchise taxes imposed on it (in lieu of or in addition to net income,
profits, or capital 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); (d) in the case of a Foreign Lender (other than an assignee pursuant to a request
by the Borrower under Section 10.13), any United States withholding tax that 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 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 the Borrower with respect to such withholding tax
pursuant to Section 3.01(a)(ii); (e) any United States Federal taxes imposed pursuant to
FATCA; and (f) interest and penalties with respect to taxes referred to in clauses (a) through (e)
of this definition.

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

     “FATCA” means Sections 1471 through 1474 of the Code and United States Treasury
Regulations or other published guidance with respect thereto.

     “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 February 9, 2011 among the Borrower,
the Administrative Agent and the Arranger.

     “FERC” means the Federal Energy Regulatory Commission or any of its successors.

     “Financial Officer” means the chief executive officer, chief financial officer,
treasurer or controller of a Loan Party.

     “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 an 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, 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.

     “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.

     “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.

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     “General Partner” means Tesoro Logistics GP, LLC, a Delaware limited liability
company.

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

     “Guarantee”
means, as to any Person, any (a) 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) 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.

     “Hazardous Materials” means all substances, wastes or other pollutants identified as
hazardous or toxic pursuant to any Environmental Law, including petroleum or petroleum distillates,
asbestos or asbestos-containing materials, polychlorinated biphenyls, radon gas, infectious or
medical wastes.

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

     “High Plains Trunkline” means (a) the Crude Oil pipelines located in North Dakota and
Montana owned by the Borrower or any of its Subsidiaries to the extent such pipelines are accounted
for, or if such pipelines were subject to the requirements of the Uniform System of Accounts, would
be accounted for, under account numbers 151-166, Trunk Lines, under the General Instructions for
Carrier Property Accounts of such Uniform System of Accounts, which

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are set forth on Exhibit E hereto and (b) all gathering receipt, relay and pump
stations connected or relating to such pipelines.

     “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) the maximum amount of 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 that are (i) not unpaid for
more than 90 days after the date on which such trade account payable was created or (ii) being
contested in good faith by appropriate proceedings diligently conducted and adequate reserves in
accordance with GAAP are being maintained by the applicable Person);

     (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) all Attributable Indebtedness in respect of Capitalized Leases and Synthetic Lease
Obligations of such Person and all Synthetic Debt of such Person;

     (g) all obligations of such Person to purchase, redeem, retire, defease or otherwise make any
payment in respect of any Equity Interest in such Person or any other Person or any warrant, right
or option to acquire such Equity Interest, valued, in the case of a redeemable preferred interest,
at the greater of its voluntary or involuntary liquidation preference
plus accrued and
unpaid dividends; and

     (h) 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 under
any Swap Contract on any date shall be deemed to be the Swap Termination Value thereof as of such
date.

     “Indemnified Taxes” means Taxes other than Excluded Taxes.

     “Indemnitees” has the meaning specified in Section 10.04(b).

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     “Information” has the meaning specified in Section 10.07.

     “Initial Terminals” means the ten Refined Products terminals and/or storage facilities
owned by the Borrower or any of its Subsidiaries as of the Closing Date that are used to provide
distribution primarily for Refined Products produced at refineries owned by Tesoro and its
Subsidiaries located in (i) Los Angeles, California; (ii) Stockton, California; (iii) Salt Lake
City, Utah; (iv) Anchorage, Alaska; (v) Vancouver, Washington; (vi) Mandan, North Dakota; (vii)
Boise, Idaho; and (viii) Burley, Idaho.

     “Interest Payment Date” means, (a) as to any Eurodollar 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, the last Business Day of each
March, June, September and December and the Maturity Date.

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

     (a) 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;

     (b) 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

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

     “Interstate Commerce Act” means the body of law commonly known as the Interstate
Commerce Act (codified at 49 U.S.C. App. §§ 1 et seq. (1988)).

     “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 Equity Interests 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 interest in, another Person, or (c) an
Acquisition. 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.

     “IP Security Agreement Supplements” means any Patent Security Agreement Supplement,
Trademark Security Agreement Supplement and Copyright Security Agreement Supplement (as such terms
are defined in the Security Agreement) executed by any Loan Party.

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     “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 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.

     “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 Revolving Credit
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 each of Bank of America in its capacity as issuer of Letters of
Credit hereunder and any other Lenders selected by the Borrower that agree to become an L/C Issuer
hereunder, or any successor issuer or issuers of Letters of Credit hereunder.

     “L/C Obligations” means, as at any date of determination, the aggregate amount
available to be drawn under all outstanding Letters of Credit plus the aggregate of all
Unreimbursed Amounts, including all L/C Borrowings. For 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.

     “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.

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     “Letter of Credit” means any standby letter of credit issued hereunder.

     “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).

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

     “Loan” means an extension of credit by a Lender to the Borrower under Article
II in the form of a Revolving Credit Loan.

     “Loan Documents” means, collectively, (a) this Agreement, (b) the Notes, (c) the
Subsidiary Guaranty, (d) the Collateral Documents, (e) the Fee Letter, (f) each Issuer Document,
(g) any arrangements entered into by an L/C Issuer and the Borrower pursuant to Section
2.03(a)(iii), (h) any agreement creating or perfecting rights in Cash Collateral pursuant to
the provisions of Section 2.14 of this Agreement, (i) the Post Closing Agreement, (j) each
Secured Hedge Agreement and (k) each Secured Cash Management Agreement; provided that for purposes
of the definition of “Material Adverse Effect” and Articles IV through X (other
than Section 8.03, Section 10.04, and Section 10.16), “Loan Documents”
shall not include Secured Hedge Agreements or Secured Cash Management Agreements.

     “Loan Parties” means, collectively, the Borrower and each Subsidiary 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.

     “Master Terminalling Services Agreement” means that certain Master Terminalling
Services Agreement dated as of [____________], 2011, between TRMC, Tesoro Alaska, and Opco.

     “Material Adverse Effect” means (a) a material adverse change in, or a material
adverse effect upon, the operations, business, properties, liabilities (actual or contingent), or
financial condition of the Borrower and its Subsidiaries taken as a whole; (b) a material
impairment of the rights and remedies of the Administrative Agent or any Lender under any Loan
Document, or of the ability of any Loan Party to perform its obligations under any Loan Document to
which it is a

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party; or (c) a material adverse effect upon the legality, validity, binding effect or
enforceability against any Loan Party of any Loan Document to which it is a party.

     “Material Contract” means (a) the Operational Services Agreement, the Omnibus
Agreement, the Pipeline Transportation Services Agreements, the Trucking Transportation Services
Agreement, the Master Terminalling Services Agreement, the Storage and Transportation Services
Agreement, the Short Haul Pipeline Agreement, and any similar type of agreement relating to any
future Contributed Assets, (b) any other agreement or instrument entered into on or after the date
of this Agreement to which any Loan Party is a party and which otherwise constitutes a material
agreement or material instrument relating to the acquisition of, or establishment of, material
assets (which assets would constitute 10% or more of the consolidated assets of the Loan Parties
after giving effect to such acquisition or establishment) or material operations (which operations
would constitute 10% or more of the anticipated revenues of the Loan Parties after giving effect to
such acquisition or establishment) by any Loan Party, and (c) any other material documents,
agreements or instruments related to any of the foregoing (i) to which any Loan Party is a party,
and (ii) which, if terminated or cancelled, could reasonably be expected to have a Material Adverse
Effect.

     “Material Pipeline Systems” means, collectively, (a) the High Plains Trunkline, (b)
the Utah Pipelines, and (c) any other pipelines owned by any Loan Party that are used in the
Business and that (i) are subject to any Material Contract or (ii) are accounted for, or if such
pipelines were subject to the requirements of the Uniform System of Accounts, would be accounted
for, under account numbers 151-166, Trunk Lines, under the General Instructions for Carrier
Property Accounts of such Uniform System of Accounts, which are set forth on Exhibit E
hereto, and, in each case, all gathering receipt, relay and pump stations connected or relating to
such pipelines.

     “Material Real Property” means, as of any applicable date of determination, (a) the
real property owned or leased by the Borrower or any of its Subsidiaries, or in which the Borrower
or any of its Subsidiaries has an easement or other real property interest on which any Terminal or
Material Pipeline System is located; (b) any other contiguous parcels of real property owned or
leased by the Borrower or any of its Subsidiaries, or in which the Borrower or any of its
Subsidiaries has an easement or other real property interest in, that collectively have a fair
market value of $2,500,000 or more; and (c) if the aggregate fair market value of the real property
Collateral at any time is less than 80% of the aggregate fair market value of all of the real
property owned or leased by the Borrower and its Subsidiaries, then such other real property owned
or leased by the Borrower or any of its Subsidiaries as would, after giving effect to a Mortgage
thereon and such real property’s becoming Collateral, cause the aggregate fair market value of the
real property Collateral to be at least 80% of the aggregate fair market value of all of the real
property owned or leased by the Borrower and its Subsidiaries. As used herein, “real property”
includes, without limitation, all rights of way, servitudes, easements and other real property
interests of the Borrower or any Subsidiary.

     “Materials” has the meaning specified in Section 6.02.

     “Maturity Date” means [________] [__], 2014; provided, however, that
if such date is not a Business Day, the Maturity Date shall be the next preceding Business Day.

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     “Measurement Period” means, at any date of determination, the most recently completed
four fiscal quarters of the Borrower or, if fewer than four consecutive fiscal quarters of the
Borrower have been completed since the Closing Date, the fiscal quarters of the Borrower that have
been completed since the Closing Date; provided that: (a) for purposes of determining the
amount of Consolidated EBITDA to be included in the calculation of the Consolidated Leverage Ratio
for the fiscal quarter ended June 30, 2011, such amount for the Measurement Period then ended shall
equal Consolidated EBITDA for such fiscal quarter multiplied by four; (b) for purposes of
determining the amount of Consolidated EBITDA to be included in the calculation of the Consolidated
Leverage Ratio for the fiscal quarter ended September 30, 2011, such amount for the Measurement
Period then ended shall equal Consolidated EBITDA for the two fiscal quarters then ended
multiplied by two; and (c) for purposes of determining the amount of Consolidated EBITDA to
be included in the calculation of the Consolidated Leverage Ratio for the fiscal quarter ended
December 31, 2011, such amount for the Measurement Period then ended shall equal Consolidated
EBITDA for the three fiscal quarters then ended multiplied by 4/3.

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

     “Mortgage” has the meaning specified in Section 4.01(a)(iv).

     “Mortgage Policy” has the meaning specified in Section 4.01(a)(iv)(B).

     “Multiemployer Plan” means any employee benefit plan of the type described in Section
4001(a)(3) of ERISA, to which the 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 the 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.

     “NDPSC” has the meaning specified in Section 5.22(b).

     “North Dakota Intrastate Pipeline Services” has the meaning specified in Section
5.22(b).

     “Note” means a promissory note made by the Borrower in favor of a Lender evidencing
Revolving Credit Loans made by such Lender, substantially in the form of Exhibit B.

     “NPL” means the National Priorities List under CERCLA.

     “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, 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.

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     “Omnibus Agreement” means that certain Omnibus Agreement dated as of [________] [__],
2011, between Tesoro (on behalf of itself and certain of its Affiliates), TRMC, Tesoro Companies,
Tesoro Alaska, the Borrower, and the General Partner.

     “Opco” means Tesoro Logistics Operations LLC, a Delaware limited liability company.

     “Operational Services Agreement” means that certain Operational Services Agreement
dated as of [________] [__], 2011, by and among Tesoro Companies, TRMC, Tesoro Alaska, Opco, and
Tesoro High Plains.

     “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.

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

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

     “PBGC” means the Pension Benefit Guaranty Corporation.

     “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,
Sections 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 the Borrower and any

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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 Encumbrances” has the meaning specified in the Mortgages.

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

     “Pipeline Systems” means, collectively, (a) the approximately 700 miles of Crude Oil
pipelines located in North Dakota and Montana owned by the Borrower or any of its Subsidiaries
(including without limitation the High Plains Trunkline), (b) the Utah Pipelines, and (c) any other
gathering systems or pipelines owned by any Loan Party that are used in the Business, including in
each case any gathering receipt, relay, and pump stations connected or relating to any of the
foregoing.

     “Pipeline Transportation Services Agreements” means (a) that certain Transportation
Services Agreement (High Plains Pipeline System) dated as of [_______________], 2011, between
Tesoro High Plains and TRMC; and (b) that certain Transportation Services Agreement (SLC Short
Haul Pipelines) dated as of [_______________], 2011, between Opco and TRMC.

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

     “Platform” has the meaning specified in Section 6.02.

     “Pledged Equity” has the meaning specified in Section 1.3 of the Security
Agreement.

     “Post Closing Agreement” means the Post Closing Agreement dated as of the date hereof
among the Borrower, the other Loan Parties and the Administrative Agent.

     “Public Lender” has the meaning specified in Section 6.02.

     “Refined Products” means gasoline, diesel fuel, jet fuel, liquid petroleum gases,
asphalt and asphalt products, and other refined petroleum products.

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

     “Registration Statement” means that certain Form S-1 Registration Statement dated
January 4, 2011, as amended from time to time through April 8, 2011, in each case, filed with the
United States Securities and Exchange Commission with respect to the Common Units.

     “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.

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     “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 Revolving Credit Borrowing,
conversion or continuation of Revolving Credit Loans, a Revolving Credit Loan Notice and (b) with
respect to an L/C Credit Extension, a Letter of Credit Application.

     “Required Lenders” means, as of any date of determination, Lenders holding more than
50% of the sum of the (a) Total Outstandings (with the aggregate amount of each Lender’s risk
participation and funded participation in L/C Obligations being deemed “held” by such
Lender for purposes of this definition) and (b) aggregate unused Commitments; provided that
the unused 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.

     “Responsible Officer” means the chief executive officer, president, chief financial
officer, treasurer, assistant treasurer or controller of a Loan Party or the General Partner acting
on behalf of a Loan Party, and solely for purposes of the delivery of incumbency certificates
pursuant to Section 4.01, the secretary or any assistant secretary of a Loan Party or the
General Partner acting on behalf of a Loan Party and, solely for purposes of notices given pursuant
to Article II, any other officer or employee of the applicable Loan Party or the General
Partner acting on behalf of such Loan Party so designated by any of the foregoing officers in a
notice to the Administrative Agent. Any document delivered hereunder that is signed by a
Responsible Officer of a Loan Party or the General Partner acting on behalf 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 any dividend or other distribution (whether in cash,
securities or other property) with respect to any capital stock or other Equity Interest of any
Person or any of its Subsidiaries, or any payment (whether in cash, securities or other property),
including any sinking fund or similar deposit, on account of the purchase, redemption, retirement,
defeasance, acquisition, cancellation or termination of any such capital stock or other Equity
Interest, or on account of any return of capital to any Person’s stockholders, partners or members
(or the equivalent of any thereof), or any option, warrant or other right to acquire any such
dividend or other distribution or payment.

     “Revolving Credit Borrowing” means a borrowing consisting of simultaneous Revolving
Credit 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.

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

     “Revolving Credit Loan Notice” means a notice of (a) a Revolving Credit Borrowing, (b)
a conversion of 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.

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     “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 interest rate Swap Contract permitted under
Article VII that is entered into by and between any Loan Party and any Hedge Bank.

     “Secured Parties” means, collectively, the Administrative Agent, the Lenders, the L/C
Issuers, the Hedge Banks, the Cash Management Banks, each co-agent or sub-agent appointed by the
Administrative Agent from time to time pursuant to Section 9.05, and the other Persons the
Obligations owing to which are or are purported to be secured by the Collateral under the terms of
the Collateral Documents.

     “Security Agreement” has the meaning specified in Section 4.01(a)(iii).

     “Security Agreement Supplement” means a Supplement to the Security Agreement in the
form attached as Annex I to the Security Agreement.

     “Short Haul Pipeline Agreement” means the Transportation Services Agreement (SLC
Short Haul Pipelines) dated as of [________] [__], 2011, between TRMC and Opco.

     “Solvent” and “Solvency” mean, with respect to any Person on any date of
determination, that on such date (a) the fair value of the property of such Person is greater than
the total amount of liabilities, including contingent liabilities, of such Person, (b) the present
fair salable value of the assets of such Person is not less than the amount that will be required
to pay the probable liability of such Person on its debts as they become absolute and matured, (c)
such Person does not intend to, and does not believe that it will, incur debts or liabilities
beyond such Person’s ability to pay such debts and liabilities as they mature, (d) such Person is
not engaged in business or a transaction, and is not about to engage in business or a transaction,
for which such Person’s property would constitute an unreasonably small capital, and (e) such
Person is able to pay its debts and liabilities, contingent obligations and other commitments as
they mature in the ordinary course of business. The amount of contingent liabilities at any time
shall be computed as the amount that, in the light of all the facts and circumstances existing at
such time, represents the amount that can reasonably be expected to become an actual or matured
liability.

     “Specified Acquisition” means any Acquisition made by the Borrower or any of its
Subsidiaries in which the Acquisition Consideration therefor exceeds $40,000,000.

     “Specified Acquisition Period” means, upon Borrower’s election pursuant to Section
6.02(l), (a) the fiscal quarter during which the Borrower or any of its Subsidiaries
consummates a Specified Acquisition and (b) the two fiscal quarters immediately following the
fiscal quarter described in clause (a); provided, however, that (i) no more than one
Specified Acquisition Period may be in effect at any one time, (ii) no Specified Acquisition Period
may become

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effective if the Borrower fails to timely elect such Specified Acquisition Period pursuant to
the terms of Section 6.02(l) and (iii) no more than one Specified Acquisition Period may be
elected with respect to any particular Specified Acquisition.

     “State Pipeline Regulatory Agencies” means, collectively, the North Dakota Public
Service Commission, the Montana Public Service Commission, the Public Service Commission of Utah,
any similar Governmental Authorities in other jurisdictions, and any successor Governmental
Authorities of any of the foregoing.

     “Storage and Transportation Services Agreement” means that certain Salt Lake City
Storage and Transportation Services Agreement dated as of [_____________], 2011, between TRMC and
Opco.

     “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.

     “Subsidiary Guarantors” means the Subsidiaries of the Borrower listed on Schedule
6.12 and each other Subsidiary of the Borrower that shall be required to execute and deliver a
guaranty or guaranty supplement pursuant to Section 6.12.

     “Subsidiary Guaranty” means the Guaranty made by the Subsidiary Guarantors in favor of
the Secured Parties, together with each other guaranty and guaranty supplement delivered pursuant
to Section 6.12.

     “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.

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     “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).

     “Synthetic Debt” means, with respect to any Person as of any date of determination
thereof, all obligations of such Person in respect of transactions entered into by such Person that
are intended to function primarily as a borrowing of funds (including any minority interest
transactions that function primarily as a borrowing) but are not otherwise included in the
definition of “Indebtedness” or as a liability on the consolidated balance sheet of such
Person and its Subsidiaries in accordance with GAAP.

     “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 (including sale and leaseback transactions), in each case, creating
obligations that do not appear on the balance sheet of such Person but which, upon the application
of any Debtor Relief Laws to 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 (including backup withholding), assessments, fees or other charges imposed by any
Governmental Authority, including any interest, additions to tax or penalties applicable thereto.

     “Terminals” means, collectively (a) the Initial Terminals; and (b) any other
terminals, storage facilities, wharfage, tankage and loading racks owned or leased by any Loan
Party that are used in the Business.

     “Tesoro” means Tesoro Corporation, a Delaware corporation.

     “Tesoro Alaska” means Tesoro Alaska Company, a Delaware corporation.

     “Tesoro Companies” means Tesoro Companies, Inc., a Delaware corporation.

     “Tesoro Consent” means the Consent and Agreement dated as of [________] [__], 2011
among the Borrower, Tesoro, Tesoro Companies, Tesoro Alaska, TRMC, the General Partner, Opco,
Tesoro High Plains and the Administrative Agent.

     “Tesoro High Plains” means Tesoro High Plains Pipeline Company LLC, a Delaware limited
liability company.

     “Threshold Amount” means $10,000,000.

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

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     “Transaction” means, collectively, the contribution of Contributed Assets on or prior
to the Closing Date and the issuance of Common Units as described in the Registration Statement on
the Closing Date.

     “Transfer Documents” means, collectively, the Contribution Agreement and any other
material documents, agreements and instruments executed by a Loan Party or any Contributing
Affiliate in connection with the transfer of the Contributed Assets to the Loan Parties whether on,
prior to or after the Closing Date.

     “TRMC” means Tesoro Refining and Marketing Company, a Delaware corporation.

     “Trucking Transportation Services Agreement” means that certain Trucking and
Transportation Services Agreement dated as of [____________], 2011, between Opco and TRMC.

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

     “UCC” means the Uniform Commercial Code as in effect in the State of New York;
provided that, if perfection or the effect of perfection or non-perfection or the priority
of any security interest in any Collateral is governed by the Uniform Commercial Code as in effect
in a jurisdiction other than the State of New York, “UCC” means the Uniform Commercial Code
as in effect from time to time in such other jurisdiction for purposes of the provisions hereof
relating to such perfection, effect of perfection or non-perfection or priority.

     “Uncovered Collateral Loss” means a Collateral Loss to the extent that it is not
offset (on a dollar-for-dollar basis) by independent third-party business interruption insurance as
to which the insurer is rated at least “A” by A.M. Best Company, has been notified of the
potential claim and does not dispute coverage.

     “Uniform System of Accounts” means, under Part 352 of FERC’s regulations, the Uniform
Systems of Accounts Prescribed For Oil Pipeline Companies Subject to the Provisions of the
Interstate Commerce Act.

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

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

     “U.S. Loan Party” means any Loan Party that is organized under the laws of one of the
states of the United States of America and that is not a CFC.

     “Utah FERC Jurisdictional Requirement” means, with respect to the Utah Pipelines, any
order or other requirement by the FERC, imposed at any time after the Closing Date, that requires
the Borrower or any of its Subsidiaries to take any action with respect to or as a result of a
finding that the Utah Pipelines are subject to FERC jurisdiction, including but not limited to any
requirement for the filing of reports and/or tariffs at the FERC with respect to the Utah
Pipelines, or any other FERC order or requirement that the Borrower or any of its Subsidiaries
comply with the regulations of the FERC with respect to the Utah Pipelines.

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     “Utah Pipelines” means, collectively, (a) the three short-haul Crude Oil supply
pipelines located in Utah owned by the Borrower or any of its Subsidiaries, and (b) the two
short-haul Refined Product delivery pipelines located in Utah owned by the Borrower or any of its
Subsidiaries.

     1.02 Other Interpretive Provisions. With reference to this Agreement and each other Loan
Document, unless otherwise specified herein or in such other Loan Document:

     (a) The definitions of terms herein shall apply equally to the singular and plural forms of
the terms defined. Whenever the context may require, any pronoun shall include the corresponding
masculine, feminine and neuter forms. The words “include,” “includes” and
“including” shall be deemed to be followed by the phrase “without limitation.” The
word “will” shall be construed to have the same meaning and effect as the word
“shall.” Unless the context requires otherwise, (i) any definition of or reference to any
agreement, instrument or other document (including any Organization Document) shall be construed as
referring to such agreement, instrument or other document as from time to time amended,
supplemented or otherwise modified (subject to any restrictions on such amendments, supplements or
modifications set forth herein or in any other Loan Document), (ii) any reference herein to any
Person shall be construed to include such Person’s successors and assigns, (iii) the words
“herein,” “hereof” and “hereunder,” and words of similar import when used
in any Loan Document, shall be construed to refer to such Loan Document in its entirety and not to
any particular provision thereof, (iv) all references in a Loan Document to Articles, Sections,
Preliminary Statements, Exhibits and Schedules shall be construed to refer to Articles and Sections
of, and Preliminary Statements, 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 financial
statements from which the Audited Financial Statements were prepared, except as otherwise
specifically prescribed herein. Notwithstanding the foregoing, for purposes of determining

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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.

     (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 Central time (daylight or standard, as applicable).

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

     1.07 Currency Equivalents Generally. Any amount specified in this Agreement (other than in
Articles II and IX) or any of the other Loan Documents to be in Dollars shall also
include the equivalent of such amount in any currency other than Dollars, such equivalent amount
thereof in the applicable currency to be determined by the Administrative Agent at such time on the
basis of the Spot Rate (as defined below) for the purchase of such currency with Dollars. For
purposes of this Section 1.07, the “Spot Rate” for a currency means the rate

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determined by the Administrative Agent to be the rate quoted by the Person acting in such capacity
as the spot rate for the purchase by such Person of such currency with another currency through its
principal foreign exchange trading office at approximately 10:00 a.m. on the date two Business Days
prior to the date of such determination; provided that the Administrative Agent may obtain
such spot rate from another financial institution designated by the Administrative Agent if the
Person acting in such capacity does not have as of the date of determination a spot buying rate for
any such currency.

ARTICLE II

THE COMMITMENTS AND CREDIT EXTENSIONS

     2.01 The Loans. Subject to the terms and conditions set forth herein, each Lender severally
agrees to make loans (each such loan, a “Revolving Credit 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 Revolving Credit Borrowing, (i) the Total Outstandings shall not exceed the
Aggregate Commitments, and (ii) the aggregate Outstanding Amount of the Revolving Credit Loans of
any Lender, plus such Lender’s Applicable Percentage of the Outstanding Amount of all L/C
Obligations 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 2.04, and reborrow under this Section
2.01. Revolving Credit Loans may be Base Rate Loans or Eurodollar Rate Loans, as further
provided herein.

     2.02 Borrowings, Conversions and Continuations of Loans. (a) Each Revolving Credit Borrowing,
each conversion of Revolving Credit Loans from one Type to the other, and each continuation of
Eurodollar Rate Loans shall be made upon the 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 noon (i) three Business Days prior to the requested date of any Revolving
Credit Borrowing of, conversion to or continuation of Eurodollar Rate Loans or of any conversion of
Eurodollar Rate Loans to Base Rate Loans, and (ii) on the requested date of any Revolving Credit
Borrowing of Base Rate 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
Revolving Credit Loan Notice, appropriately completed and signed by a Responsible Officer of the
Borrower. Each Revolving Credit Borrowing of, conversion to or continuation of Eurodollar Rate
Loans shall be in a principal amount of $5,000,000 or a whole multiple of $1,000,000 in excess
thereof. Except as provided in Section 2.03(c), each Revolving Credit Borrowing of or
conversion to Base Rate Loans shall be in a principal amount of $500,000 or a whole multiple of
$100,000 in excess thereof. Each Revolving Credit Loan Notice (whether telephonic or written)
shall specify (i) whether the Borrower is requesting a Revolving Credit Borrowing, a conversion of
Revolving Credit Loans from one Type to the other, or a continuation of Eurodollar Rate Loans, (ii)
the requested date of the Revolving Credit Borrowing, conversion or continuation, as the case may
be (which shall be a Business Day), (iii) the principal amount of Loans to be borrowed, converted
or continued, (iv) the Type of Loans to be borrowed or to which existing Revolving Credit 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 Loan in a Revolving Credit Loan

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Notice or if the
Borrower fails to give a timely notice requesting a conversion or continuation, then the Revolving
Credit 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 Revolving Credit
Borrowing of, conversion to, or continuation of Eurodollar Rate Loans in any such Revolving Credit
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 Revolving Credit Loan Notice, the Administrative Agent shall
promptly notify each Lender of the amount of its Applicable Percentage of the Revolving Credit
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 Section 2.02(a). In the case of a Revolving Credit Borrowing, each
Lender shall make the amount of its Loan available to the Administrative Agent in immediately
available funds at the Administrative Agent’s Office not later than 2:00 p.m. on the Business Day
specified in the applicable Revolving Credit Loan Notice. Upon satisfaction of the applicable
conditions set forth in Section 4.02 (and, if such Revolving Credit 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 a Revolving Credit Loan Notice with respect to a Revolving
Credit Borrowing is given by the Borrower, there are L/C Borrowings outstanding, then the proceeds
of such Revolving Credit Borrowing, first, shall be applied to the payment in full of any
such L/C Borrowings, and second, shall be made available to the Borrower as provided above.

     (c) 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 Revolving Credit Borrowings, all conversions of Revolving
Credit Loans from one Type to the other, and all continuations of Revolving Credit Loans as the
same Type, there shall not be more than ten (10) Interest Periods in effect with respect to
Revolving Credit 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 severally 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 Closing Date until the Letter of Credit Expiration Date, to
issue

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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 Section 2.03(b), and (2) to
honor drawings under the Letters of Credit issued by it; 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, (x) the Total Outstandings shall not exceed the Aggregate
Commitments, (y) the aggregate Outstanding Amount of the Revolving Credit Loans of any Lender,
plus such Lender’s Applicable Percentage of the Outstanding Amount of all L/C Obligations
shall not exceed such Lender’s Commitment, and (z) the Outstanding Amount of the L/C Obligations
shall not exceed the Letter of Credit Sublimit. Each request by the Borrower for the issuance or
amendment of a Letter of Credit shall be deemed to be a representation by the Borrower that the L/C
Credit Extension so requested complies with the conditions set forth in the proviso to the
preceding sentence. Within the foregoing limits, and subject to the terms and conditions hereof,
the Borrower’s ability to obtain Letters of Credit shall be fully revolving, and accordingly the
Borrower may, during the foregoing period, obtain Letters of Credit to replace Letters of Credit
that have expired or that have been drawn upon and reimbursed.

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

     (A) subject to Section 2.03(b)(iii), the expiry date of the 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 the 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 the
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 the Letter of
Credit in particular or shall impose upon such L/C Issuer with respect to the Letter
of Credit any restriction, reserve or capital requirement (for which such L/C Issuer
is not otherwise compensated hereunder) not in effect on the Closing Date, or shall
impose upon such L/C Issuer any unreimbursed loss, cost or expense which was not
applicable on the Closing Date and which such L/C Issuer in good faith deems
material to it;

     (B) the issuance of the Letter of Credit would violate one or more policies of
such L/C Issuer applicable to letters of credit generally;

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     (C) except as otherwise agreed by the Administrative Agent and such L/C Issuer,
the Letter of Credit is in an initial stated amount less than $100,000;

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

     (E) any Lender is at that time a Defaulting Lender, unless such L/C Issuer has
entered into arrangements, including the delivery of Cash Collateral, satisfactory
to such L/C Issuer (in its sole discretion) with the Borrower or such Lender to
eliminate such L/C Issuer’s actual or potential Fronting Exposure (after giving
effect to Section 2.15(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 such L/C Issuer has actual or potential
Fronting Exposure, as it may elect in its sole discretion; or

     (F) the Letter of Credit contains any provisions for automatic reinstatement of
the stated amount after any drawing thereunder.

     (iv) No L/C Issuer shall amend any Letter of Credit if such L/C Issuer would not be
permitted at such time to issue the Letter of Credit in its amended form under the terms
hereof.

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

     (vi) 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 such L/C Issuer with respect to such acts or
omissions, and (B) as additionally provided herein with respect to the L/C Issuers.

     (b) Procedures for Issuance and Amendment of Letters of Credit; Auto-Extension Letters of
Credit. (i) Each Letter of Credit shall be issued or amended, as the case may be, upon the
request of the Borrower delivered to the applicable L/C Issuer (with a copy to the Administrative
Agent) in the form of a Letter of Credit Application, appropriately completed and signed by a
Responsible Officer of the Borrower. Such Letter of Credit Application must be received by the
applicable L/C Issuer and the Administrative Agent not later than noon at least two Business Days
(or such later date and time as the Administrative Agent and the applicable 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

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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 such 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 satisfactory to the applicable L/C Issuer (1) the Letter of Credit to be
amended; (2) the proposed date of amendment thereof (which shall be a Business Day); (3) the nature
of the proposed amendment; and (4) such other matters as such 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 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, 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
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

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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) 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 10:00 a.m. on the date of any payment by the applicable L/C Issuer under a Letter of Credit
(each such date, an “Honor Date”), the Borrower shall reimburse such L/C Issuer through the
Administrative Agent in an amount equal to the amount of such drawing. If the Borrower fails to so
reimburse such 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 Revolving Credit 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 Commitments and the conditions set forth in
Section 4.02 (other than the delivery of a Revolving Credit Loan Notice). Any notice given
by an 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 (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
12:00 noon 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 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
Revolving Credit 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

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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 such L/C Issuer
pursuant to Section 2.03(c)(ii) shall be deemed payment in respect of its
participation in such L/C Borrowing and shall constitute an L/C Advance from such Lender in
satisfaction of its participation obligation under this Section 2.03.

     (iv) Until each Lender funds its Revolving Credit 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 such L/C Issuer.

     (v) Each Lender’s obligation to make Revolving Credit Loans or L/C Advances to
reimburse the respective L/C Issuers 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 any L/C Issuer, the Borrower or
any other Person for any reason whatsoever; (B) the occurrence or continuance of a Default,
or (C) any other occurrence, event or condition, whether or not similar to any of the
foregoing; provided, however, that each Lender’s obligation to make
Revolving Credit 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 Revolving Credit
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 issued by it, 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
such L/C Issuer in connection with the foregoing. If such Lender pays such amount (with
interest and fees as aforesaid), the amount so paid shall constitute such Lender’s Revolving
Credit Loan included in the relevant Revolving Credit 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 Section 2.03(c)(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

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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 in the same
funds as those received by the Administrative Agent.

     (ii) If any payment received by the Administrative Agent for the account of an 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 applicable L/C Issuer in its discretion), each Lender shall pay to the
Administrative Agent for the account of the applicable L/C Issuer its Applicable Percentage
thereof on demand of the Administrative Agent, plus interest thereon from the date
of such demand to the date such amount is returned by such Lender, at a rate per annum equal
to the Federal Funds Rate from time to time in effect. 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 issued by it 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 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), such 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 such 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

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

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 immediately notify the applicable L/C Issuer. The
Borrower shall be conclusively deemed to have waived any such claim against the applicable L/C
Issuer and its correspondents unless such notice is given as aforesaid.

     (f) Role of L/C Issuer. Each Lender and the Borrower agree that, in paying any
drawing under a Letter of Credit, the applicable L/C Issuer shall not have any responsibility to
obtain any document (other than any sight draft, certificates and documents expressly required by
the Letter of Credit) or to ascertain or inquire as to the validity or accuracy of any such
document or the authority of the Person executing or delivering any such document. None of any L/C
Issuer, the Administrative Agent, any of their respective Related Parties nor any correspondent,
participant or assignee of an 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 any L/C Issuer, the
Administrative Agent, any of their respective Related Parties nor any correspondent, participant or
assignee of an L/C Issuer shall be liable or responsible for any of the matters described in
clauses (i) through (v) of Section 2.03(e); provided, however, that
anything in such clauses to the contrary notwithstanding, the Borrower may have a claim against the
applicable L/C Issuer, and 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 issued by it
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, an L/C Issuer may accept documents that appear on their face to be in
order, without responsibility for further investigation, regardless of any notice or information to
the contrary, and the applicable L/C Issuer shall not be responsible for the validity or
sufficiency of any instrument transferring or assigning or purporting to transfer or assign a
Letter of Credit or the rights or benefits thereunder or proceeds thereof, in whole or in part,
which may prove to be invalid or ineffective for any reason.

     (g) Applicability of ISP. Unless otherwise expressly agreed by the applicable L/C
Issuer and the Borrower when a Letter of Credit is issued, the rules of the ISP shall apply to each
Letter of Credit.

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     (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; 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 applicable 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 2.15(a)(iv), with the balance of such fee, if any, payable to the
applicable 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) due and payable on the
first Business Day after the end of each March, June, September and December, commencing with the
first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit
Expiration Date and thereafter on demand and (ii) computed on a quarterly basis in arrears. 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 the applicable L/C Issuer for its own account a fronting fee with
respect to each Letter of Credit issued by such L/C Issuer, at the rate per annum specified in the
Fee Letter, computed on the daily amount available to be drawn under such Letter of Credit on a
quarterly basis in arrears. Such fronting fee shall be due and payable on the tenth Business Day
after the end of each March, June, September and December in respect of the most recently-ended
quarterly period (or portion thereof, in the case of the first payment), commencing with the first
such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration
Date and thereafter on demand. For purposes of computing the daily amount available to be drawn
under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance
with Section 1.06. In addition, the Borrower shall pay directly to the applicable L/C
Issuer for its own account the customary issuance, presentation, amendment and other processing
fees, and other standard costs and charges, of 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) Letters of Credit Issued for Subsidiaries. Notwithstanding that a Letter of
Credit issued or outstanding hereunder is in support of any obligations of, or is for the account
of, a Subsidiary, the Borrower shall be obligated to reimburse the applicable L/C Issuer hereunder
for any and all drawings under such Letter of Credit. The Borrower hereby acknowledges that the
issuance of Letters of Credit for the account of Subsidiaries inures to the benefit of the
Borrower,

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and that the Borrower’s business derives substantial benefits from the businesses of such
Subsidiaries.

     2.04 Prepayments. (a) Optional. The Borrower may, upon notice to the Administrative
Agent, at any time or from time to time voluntarily prepay Revolving Credit Loans in whole or in
part without premium or penalty; provided that (A) such notice must be received by the
Administrative Agent not later than noon (1) three Business Days prior to any date of prepayment of
Eurodollar Rate Loans and (2) on the date of prepayment of Base Rate Loans; (B) 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 (C) any prepayment of Base Rate 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. Each such notice shall specify the date and
amount of such prepayment and the Type(s) of Loans to be prepaid and, if Eurodollar Rate 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 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. Subject to Section 2.15, each such prepayment shall be applied to
the Revolving Credit Loans of the Lenders in accordance with their respective Applicable
Percentages.

     (b) Mandatory.

     (i) If for any reason the Total Outstandings at any time exceed the Aggregate
Commitments at such time, the Borrower shall immediately prepay Revolving Credit Loans and
L/C Borrowings and/or Cash Collateralize the L/C Obligations (other than the L/C Borrowings)
in an aggregate amount equal to such excess.

     (ii) The Borrower shall make prepayments as required by Section 6.07(b)(i).

     2.05 Termination or Reduction of Commitments. The Borrower may, upon notice to the
Administrative Agent, terminate the Aggregate Commitments or the Letter of Credit Sublimit, or from
time to time permanently reduce the Aggregate Commitments or the Letter of Credit Sublimit;
provided that (i) any such notice shall be received by the Administrative Agent not later
than noon five Business Days prior to the date of termination or reduction, (ii) any such partial
reduction shall be in an aggregate amount of $10,000,000 or any whole multiple of $1,000,000 in
excess thereof and (iii) the Borrower shall not terminate or reduce (A) the Aggregate Commitments
if, after giving effect thereto and to any concurrent prepayments hereunder, the Total Outstandings
would exceed the Aggregate Commitments, or (B) the Letter of Credit Sublimit if, after giving
effect thereto, the Outstanding Amount of L/C Obligations not fully Cash Collateralized hereunder
would exceed the Letter of Credit Sublimit. The Administrative Agent will promptly notify the
Lenders of any termination or reduction of the Letter of Credit Sublimit or the Aggregate
Commitments under this Section 2.05. Upon any reduction of the Aggregate Commitments, the
Commitment of each Lender shall be reduced by such Lender’s Applicable Percentage of such reduction
amount. All fees accrued until the

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effective date of any termination of the Aggregate Commitments
shall be paid on the effective date of such termination.

     2.06 Repayment of Revolving Credit Loans. The Borrower shall repay to the Lenders on the
Maturity Date the aggregate principal amount of all Revolving Credit Loans outstanding on such
date.

     2.07 Interest. (a) Subject to the provisions of Section 2.07(b), (i) each Eurodollar
Rate Loan shall bear interest on the outstanding principal amount thereof for each Interest Period
at a rate per annum equal to the Eurodollar Rate for such Interest Period plus the
Applicable Rate; and (ii) each Base Rate Loan shall bear interest on the outstanding principal
amount thereof from the applicable borrowing date at a rate per annum equal to the Base Rate
plus the Applicable Rate.

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

     (ii) If any amount (other than principal of any Loan) payable by the Borrower under any
Loan Document is not paid when due (without regard to any applicable grace periods), whether
at stated maturity, by acceleration or otherwise, then 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.

     (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.

     2.08 Fees. In addition to certain fees described in Sections 2.03(h) and (i):

     (a) Commitment Fee. The Borrower shall pay to the Administrative Agent for the
account of each Lender in accordance with its Applicable Percentage, a commitment fee equal to the
Applicable Fee Rate times the actual daily amount by which the Aggregate Commitments exceed
the sum of (i) the Outstanding Amount of Revolving Credit Loans and (ii) the Outstanding Amount of
L/C Obligations, subject to adjustment as provided in Section 2.15. The commitment fee
shall accrue at all times during the Availability Period, including at any time

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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 Closing Date, and on the last day of the Availability Period.
The commitment fee shall be calculated quarterly in arrears, and if there is any change in the
Applicable Fee Rate during any quarter, the actual daily amount shall be computed and multiplied by
the Applicable Fee Rate separately for each period during such quarter that such Applicable Fee
Rate was in effect.

     (b) Other Fees. (i) The Borrower 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 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.

     2.09 Computation of Interest and Fees; Retroactive Adjustments of Applicable Rate.

     (a) 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 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 2.11(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.

     (b) If, as a result of any restatement of or other adjustment to the financial statements of
the Borrower or for any other reason, the Borrower or the Lenders determine that (i) the
Consolidated Leverage Ratio as calculated by the Borrower as of any applicable date was inaccurate
and (ii) a proper calculation of the Consolidated Leverage Ratio would have resulted in different
pricing for such period, then (A) if the proper pricing for such period would have been higher,
then the Borrower shall immediately and retroactively be obligated to pay to the Administrative
Agent for the account of the applicable Lenders or the applicable L/C Issuers, as the case may be,
promptly on demand by the Administrative Agent (or, after the occurrence of an actual or deemed
entry of an order for relief with respect to the Borrower under the Bankruptcy Code of the United
States, automatically and without further action by the Administrative Agent, any Lender or any L/C
Issuer), an amount equal to the excess of the amount of interest and fees that should have been
paid for such period over the amount of interest and fees actually paid for such period, and (B) if
the proper pricing for such period would have been lower, the amount of any overpayment of interest
and fees actually made shall, upon delivery of a certificate from a Responsible Officer of the
Borrower to the Administrative Agent demonstrating the amount of such overpayment, be applied as a
credit to all subsequent payments due from any Loan Party

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under any Loan Document to the Lenders
that were party to this Agreement at the time of such overpayment, in accordance with each such
Lender’s ratable share at the time of such overpayment, until the amount of such overpayment is
eliminated. This paragraph shall not limit the rights of the Administrative Agent, any Lender or
any L/C Issuer, as the case may be, under Sections 2.03(c)(iii), 2.03(h) or
2.07(b) or under Article VIII. The Borrower’s obligations under this paragraph
shall survive the termination of the Aggregate Commitments and the repayment of all other
Obligations hereunder.

     2.10 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 Section 2.10(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. 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.

     2.11 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 1:00 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 1:00 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 on 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
Revolving Credit Borrowing of Eurodollar Rate Loans (or, in the case of any Revolving Credit
Borrowing of Base Rate Loans, prior to 1:00 p.m. on the date of such Revolving Credit Borrowing)
that such Lender will not make available to the Administrative Agent such Lender’s share of such
Revolving Credit 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
Revolving Credit 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 Revolving Credit Borrowing available to the
Administrative Agent, then the applicable Lender and the Borrower severally agree to pay to the
Administrative Agent forthwith on demand such corresponding amount in immediately available funds
with interest thereon, for each day from and including the date such amount is made available to
the Borrower to but excluding the date of payment to the Administrative Agent, at (A) in the case
of a payment to be made by such Lender, the greater of the Federal Funds Rate and a rate determined
by the Administrative Agent in accordance with banking industry rules on interbank compensation,
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 Base Rate Loans. If the Borrower and such Lender shall pay such
interest to the Administrative Agent for the same or an overlapping period, the Administrative
Agent shall promptly remit to the Borrower the amount of such interest paid by the Borrower for
such period. If such Lender pays its share of the applicable Revolving Credit Borrowing to the
Administrative Agent, then the amount so paid shall constitute such Lender’s Loan included in such
Revolving Credit 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 time at which
any payment is due to the Administrative Agent for the account of the Lenders or an 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 the applicable 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 and including the date such amount is distributed to it to but
excluding the date of payment to the Administrative Agent, at the greater of the Federal
Funds Rate and a rate determined by the Administrative Agent in accordance with banking
industry rules on interbank compensation.

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

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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
Revolving Credit Loans, to fund participations in Letters of Credit and to make payments pursuant
to Section 10.04(c) are several and not joint. The failure of any Lender to make any 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
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.

     (f) Insufficient Funds. If at any time insufficient funds are received by and
available to the Administrative Agent to pay fully all amounts of principal, L/C Borrowings,
interest and fees then due hereunder, such funds shall be applied (i) first, toward payment
of interest and fees then due hereunder, ratably among the parties entitled thereto in accordance
with the amounts of interest and fees then due to such parties, and (ii) second, toward
payment of principal and L/C Borrowings then due hereunder, ratably among the parties entitled
thereto in accordance with the amounts of principal and L/C Borrowings then due to such parties.

     2.12 Sharing of Payments by Lenders. If any Lender shall, by exercising any right of setoff
or counterclaim or otherwise, obtain payment in respect of (a) Obligations in respect of any
Revolving Credit Loan or Letter of Credit due and payable to such Lender hereunder and under the
other Loan Documents at such time in excess of its ratable share (according to the proportion of
(i) the amount of such Obligations due and payable to such Lender at such time to (ii) the
aggregate amount of the Obligations in respect of Revolving Credit Loans and Letters of Credit due
and payable to all Lenders hereunder and under the other Loan Documents at such time) of payments
on account of the Obligations in respect of Revolving Credit Loans and Letters of Credit due and
payable to all Lenders hereunder and under the other Loan Documents at such time obtained by all
the Lenders at such time or (b) Obligations in respect of any Revolving Credit Loan or Letter of
Credit owing (but not due and payable) to such Lender hereunder and under the other Loan Documents
at such time in excess of its ratable share (according to the proportion of (i) the amount of such
Obligations owing (but not due and payable) to such Lender at such time to (ii) the aggregate
amount of the Obligations in respect of Revolving Credit Loans and Letters of Credit owing (but not
due and payable) to all Lenders hereunder and under the other Loan Parties at such time) of payment
on account of the Obligations in respect of Revolving Credit Loans and Letters of Credit owing (but
not due and payable) to all Lenders hereunder and under the other Loan Documents at such time
obtained by

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all of the Lenders at such time 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 Revolving Credit Loans and subparticipations in L/C Obligations 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
Obligations in respect of Revolving Credit Loans and Letters of Credit then due and payable to the
Lenders or owing (but not due and payable) to the Lenders, as the case may be, 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 (A) any payment
made by or on behalf of 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), (B) the application of Cash Collateral provided for in Section
2.14, or (C) any payment obtained by a Lender as consideration for the assignment of or
sale of a participation in any of its Loans or subparticipations in L/C Obligations to any
assignee or participant, other than an assignment to the Borrower or any Subsidiary or
Affiliate 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.

     2.13 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 $150,000,000; provided that any such request for an
increase shall be in a minimum amount of $30,000,000. At the time of sending such notice, the
Borrower (in consultation with the Administrative Agent) shall specify the time period within which
each Lender is requested to respond (which shall in no event be less than ten Business Days from
the date of delivery of such notice to the Lenders).

     (b) Lender Elections to Increase. Each Lender shall notify the Administrative Agent
within such time period whether or not it agrees to increase its Commitment and, if so, whether by
an amount equal to, greater than, or less than its Applicable Percentage of such requested
increase. Any Lender not responding within such time period shall be deemed to have declined to
increase its Commitment.

     (c) Notification by Administrative Agent; Additional Lenders. The Administrative
Agent shall notify the Borrower and each Lender of the Lenders’ responses to each request made
hereunder. To achieve the full amount of a requested increase, and subject to the approval of the

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Administrative Agent and each L/C Issuer (which approvals shall not be unreasonably withheld),
the Borrower may also invite additional Eligible Assignees to become Lenders pursuant to a joinder
agreement in form and substance satisfactory to the Administrative Agent and its counsel.

     (d) 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 “Revolving Credit Increase Effective Date”) and the final allocation of
such increase. The Administrative Agent shall promptly notify the Borrower and the Lenders of the
final allocation of such increase and the Revolving Credit Increase Effective Date.

     (e) 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 Revolving Credit Increase Effective Date (in sufficient copies for each Lender)
signed by a Responsible Officer of such Loan Party or the General Partner acting on behalf of such
Loan Party (x) certifying and attaching the resolutions adopted by such Loan Party approving or
consenting to such increase, and (y) in the case of the Borrower, certifying that, before and after
giving effect to such increase, (A) the representations and warranties contained in Article
V and the other Loan Documents are true and correct on and as of the Revolving Credit 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 2.13, the representations and warranties contained in
subsections (a) and (b) of Section 5.05 shall be deemed to refer to the most recent
statements furnished pursuant to clauses (a) and (b), respectively, of Section 6.01, and
(B) no Default exists or would result from such increase. The Borrower shall prepay any Revolving
Credit Loans outstanding on the Revolving Credit Increase Effective Date (and pay any additional
amounts required pursuant to Section 3.05) to the extent necessary to keep the outstanding
Revolving Credit Loans ratable with any revised Applicable Percentages arising from any nonratable
increase in the Commitments under this Section.

     (f) Conflicting Provisions. This Section shall supersede any provisions in
Sections 2.12 or 10.01 to the contrary.

     2.14 Cash Collateral.

     (a) Certain Credit Support Events. Upon the request of the Administrative Agent or an
L/C Issuer (i) if such 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 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 or an L/C Issuer, the Borrower shall deliver to the Administrative Agent Cash Collateral in
an amount sufficient to cover all Fronting Exposure (after giving effect to Section
2.15(a)(iv) and any Cash Collateral provided by the Defaulting Lender).

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     (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, 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
2.14(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 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 2.14 or Sections
2.03, 2.04, 2.05, 2.15 or 8.02 in respect of Letters of Credit
shall be held and applied to the satisfaction of the specific L/C Obligations, 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)(vi))) 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 2.14 may be otherwise applied in accordance with Section 8.03), and (y) the
Person providing Cash Collateral and the applicable L/C Issuer may agree that Cash Collateral shall
not be released but instead held to support future anticipated Fronting Exposure or other
obligations.

     2.15 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

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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
Issuers hereunder; third, if so determined by the Administrative Agent or requested by an
L/C Issuer, to be held as Cash Collateral for future funding obligations of that Defaulting
Lender of any participation in any 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 or the L/C Issuers
as a result of any judgment of a court of competent jurisdiction obtained by any Lender or
any L/C Issuer 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 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 2.15(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 not be entitled to
receive any commitment fee pursuant to Section 2.08(a) for any period during which
that Lender is a Defaulting Lender (and the Borrower shall not be required to pay any 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 pursuant to Sections 2.03, 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
shall

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not exceed the positive difference, if any, of (1) the Commitment of that
non-Defaulting Lender minus (2) the aggregate Outstanding Amount of the Revolving
Credit Loans of that Lender.

     (b) Defaulting Lender Cure. If the Borrower, the Administrative Agent 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 Revolving
Credit Loans and funded and unfunded participations in Letters of Credit to be held on a pro rata
basis by the Lenders in accordance with their Applicable Percentages (without giving effect to
Section 2.15(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) Payments Free of Taxes; Obligation to Withhold; Payments on Account of
Taxes. (i) 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 Law be made free and
clear of and without reduction or withholding for any Taxes. If, however, the Borrower or the
Administrative Agent is required by applicable Law to withhold or deduct any Tax, such Tax shall be
withheld or deducted in accordance with such Law as determined by the Borrower or the
Administrative Agent, as the case may be.

     (ii) If the Borrower or the Administrative Agent shall be required by applicable Law to
withhold or deduct any Taxes, including both United States Federal backup withholding and
withholding taxes, from or in respect of any sum payable hereunder or under any other Loan
Document, then (A) the Borrower or the Administrative Agent shall withhold or make such
deductions as are determined by the Borrower or the Administrative Agent to be required, (B)
the Borrower or the Administrative Agent shall timely pay the full amount withheld or
deducted to the relevant Governmental Authority in accordance with applicable Law, 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, 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.

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

     (c) 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
each 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 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 10 days after demand therefor, 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 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 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 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, 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 by the Borrower or the Administrative Agent,
as the case may be, after any payment of Taxes by the Borrower or 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 Law to report such payment or other

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evidence of such payment reasonably satisfactory to the Borrower or the Administrative Agent,
as the case may be.

     (e) Status of Lenders; Tax Documentation. (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 Law or when reasonably requested by the Borrower or the Administrative Agent, such
properly completed and executed documentation prescribed by applicable Law 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,

     (A) any Lender or 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 properly completed and executed originals of Internal Revenue
Service Form W-9 or such other documentation or information prescribed by applicable
Law 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 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 the Borrower and the
Administrative Agent (in such number of copies as shall be requested by the
recipient) on or prior to the date on which such Foreign Lender becomes a Lender
under this Agreement (and from time to time thereafter upon the request of the
Borrower or the Administrative Agent, but only if such Foreign Lender is legally
entitled to do so), whichever of the following is applicable:

     (1) properly completed and 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,

     (2) properly completed and executed originals of Internal Revenue
Service Form W-8ECI,

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

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     (4) in the case of a Foreign Lender claiming the benefits of the
exemption for portfolio interest under section 881(c) of the Code, (x) a
certificate to the effect that such Foreign Lender is not (A) a
“bank” within the meaning of section 881(c)(3)(A) of the Code, (B) a
“10 percent shareholder” of the Borrower within the meaning of
section 881(c)(3)(B) of the Code or (C) a “controlled foreign
corporation” described in section 881(c)(3)(C) of the Code and (y)
properly completed and executed originals of Internal Revenue Service Form
W-8BEN, or

     (5) properly completed and 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 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.

     (iv) If a payment made to a Lender or L/C Issuer hereunder or under any Loan Document
would be subject to United States Federal withholding Tax imposed by FATCA if such Lender or
L/C Issuer were to fail to comply with the applicable reporting requirements of FATCA (e.g.,
because the Revolving Credit Loans are not treated as grandfathered obligations under
FATCA), such Lender or L/C Issuer shall deliver to the Borrower and the Administrative
Agent, at the time or times prescribed by Law and at such time or times reasonably requested
by the Borrower and the Administrative Agent, such documentation prescribed by applicable
Law (including as prescribed by Section 1471(b)(3)(C)(i) of the Code) and such additional
documentation reasonably requested by the Borrower or the Administrative Agent as may be
necessary for the Borrower or the Administrative Agent to comply with its obligations under
FATCA, to determine that such Lender or L/C Issuer has complied with its obligations under
FATCA or to determine the amount to deduct and withhold from such payment.

     (f) Treatment of Certain Refunds. Unless required by applicable Law, 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 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

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refund (but only to the extent of indemnity payments made, or additional amounts paid, by the
Borrower under this Section with respect to the Taxes or Other Taxes giving rise to such refund),
net of all out-of-pocket expenses 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.

     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 the Borrower through the Administrative Agent, (i) any obligation of such Lender to make or
continue Eurodollar Rate Loans or to convert Base Rate Loans to Eurodollar Rate Loans shall be
suspended, 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), 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 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 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.

     3.03 Inability to Determine Rates. If the Required Lenders determine that for any reason in
connection with any request for a Eurodollar Rate Loan or a conversion to or continuation thereof
that (a) Dollar deposits are not being offered to banks in the London

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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 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 Revolving Credit
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 Revolving Credit 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 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 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.

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     (b) Capital Requirements. If any Lender or any L/C Issuer determines that any Change
in Law affecting such Lender or such L/C Issuer or any Lending Office of such Lender or such
Lender’s or such L/C Issuer’s holding company, if any, regarding capital requirements has or would
have the effect of reducing the rate of return on such Lender’s or such L/C Issuer’s capital or on
the capital of such Lender’s or such L/C Issuer’s holding company, if any, as a consequence of this
Agreement, the Commitments of such Lender or the Loans made by, or participations in Letters of
Credit held by, such Lender, or the Letters of Credit issued by such L/C Issuer, to a level below
that which such Lender or such L/C Issuer or such Lender’s or such L/C Issuer’s holding company
could have achieved but for such Change in Law (taking into 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 an L/C Issuer
setting forth the amount or amounts necessary to compensate such Lender or such L/C Issuer or its
holding company, as the case may be, as specified in subsection (a) or (b) of this Section 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 any L/C Issuer
to demand compensation pursuant to the foregoing provisions of this Section shall not constitute a
waiver of such Lender’s or such L/C Issuer’s right to demand such compensation, provided
that the Borrower shall not be required to compensate a Lender or an L/C Issuer pursuant to the
foregoing provisions of this Section for any increased costs incurred or reductions suffered more
than nine months prior to the date that such Lender or such L/C Issuer, as the case may be,
notifies the Borrower of the Change in Law giving rise to such increased costs or reductions and of
such Lender’s or such L/C Issuer’s intention to claim compensation therefor (except that, if the
Change in Law giving rise to such increased costs or reductions is retroactive, then the nine-month
period referred to above shall be extended to include the period of retroactive effect thereof).

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

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

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

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

     (c) any assignment of a Eurodollar Rate Loan on a day other than the last day of the Interest
Period therefor as a result of a request by the Borrower pursuant to Section 10.13;

including any loss or expense (but not including loss of anticipated profits) and 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 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
such 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 such L/C
Issuer, such designation or assignment (i) would eliminate or reduce amounts payable pursuant to
Sections 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 such L/C Issuer, as the case may be, to any unreimbursed cost or expense and
would not otherwise be disadvantageous to such Lender or such 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 to any Lender or any
Governmental Authority for the account of any Lender pursuant to Section 3.01, the Borrower
may replace such Lender in accordance with Section 10.13.

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

ARTICLE IV

CONDITIONS PRECEDENT TO CREDIT EXTENSIONS

     4.01 Conditions of Initial Credit Extension. The obligation of each L/C Issuer and each
Lender to make its initial Credit Extension hereunder is subject to satisfaction of the following
conditions precedent:

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

     (i) executed counterparts of this Agreement and the Subsidiary Guaranty, 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) a pledge and security agreement (together with each other pledge and security
agreement and pledge and security agreement supplement delivered pursuant to Section
6.12, in each case as amended, the “Security Agreement”), duly executed by the
Borrower and each Subsidiary Guarantor, together with:

     (A) certificates, if any, representing the Pledged Equity referred to therein
accompanied by undated stock powers executed in blank or registered in the name of
such nominee or nominees as the Administrative Agent shall specify and instruments,
if any, evidencing any Indebtedness pledged by the Loan Parties pursuant to the
Security Agreement indorsed in blank,

     (B) proper Financing Statements in form appropriate for filing under the
Uniform Commercial Code of all jurisdictions that the Administrative Agent may deem
necessary or desirable in order to perfect the Liens created under the Security
Agreement, covering the Collateral described in the Security Agreement,

     (C) completed requests for information, dated on or before the date of the
initial Credit Extension, listing all effective financing statements filed in the
jurisdictions referred to in clause (B) above that name the Borrower or any
Subsidiary as debtor, together with copies of such other financing statements,

     (D) evidence of the completion of all other actions, recordings and filings of
or with respect to the Security Agreement that the Administrative Agent

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may deem necessary or reasonably desirable in order to perfect the Liens
created thereby,

     (E) the account control agreements referred to in the Security Agreement and
duly executed by the appropriate parties,

     (F) the Tesoro Consent, duly executed by each party thereto, and

     (G) evidence that all other action that the Administrative Agent may deem
necessary or desirable in order to perfect the Liens created under the Security
Agreement has been taken (including receipt of duly executed payoff letters, UCC-3
termination statements and landlords’ and bailees’ waiver and consent agreements);

     (iv) subject to the provisions of the Post Closing Agreement, deeds of trust, trust
deeds, deeds to secure debt, mortgages, leasehold mortgages and leasehold deeds of trust,
covering the fee and recorded leasehold estates and recorded easement interests owned by the Borrower or any
of its Subsidiaries in the land on which the Initial Terminals, the High Plains Trunkline,
and the Utah Pipelines are located, (together with the Assignments of Leases and Rents
referred to therein and each other mortgage delivered pursuant to Section 6.12, in
each case as amended, the “Mortgages”), duly executed by the appropriate Loan Party,
together with:

     (A) evidence that counterparts of the Mortgages have been duly executed,
acknowledged and delivered and are in form suitable for filing or recording in all
filing or recording offices that the Administrative Agent may deem necessary or
reasonably desirable in order to create a valid first and subsisting Lien on the
property described therein in favor of the Administrative Agent for the benefit of
the Secured Parties and that all filing, documentary, stamp, intangible and
recording taxes and fees have been paid (or arrangements therefor satisfactory to
the Administrative Agent have been made),

     (B) with respect to the Initial Terminals, fully paid American Land Title
Association Lender’s Extended Coverage title insurance policies (the “Mortgage
Policies”), with endorsements and in amounts acceptable to the Administrative
Agent, issued, coinsured and reinsured by title insurers acceptable to the
Administrative Agent, insuring the Mortgages to be valid first and subsisting Liens
on the property described therein, free and clear of all defects (including, but not
limited to, mechanics’ and materialmen’s Liens) and encumbrances, excepting only
Permitted Encumbrances and other Liens permitted under the Loan Documents, and
providing for such other affirmative insurance (including endorsements for future
advances under the Loan Documents, for mechanics’ and materialmen’s Liens and for
zoning of the applicable property to the extent available in the jurisdiction in
which such property is located) and such coinsurance and direct access reinsurance
as the Administrative Agent may deem necessary or desirable,

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     (C) estoppel and consent agreements executed by each of the lessors of the
leased real properties listed on Schedule 4.01(a)(iv), and, if applicable,
any such lessor’s mortgagee, along with (1) a memorandum of lease in recordable form
with respect to such leasehold interest, executed and acknowledged by the owner of
the affected real property, as lessor, or (2) evidence that the applicable lease
with respect to such leasehold interest or a memorandum thereof has been recorded in
all places necessary or desirable, in the Administrative Agent’s reasonable
judgment, to give constructive notice to third-party purchasers of such leasehold
interest, or (3) if such leasehold interest was acquired or subleased from the
holder of a recorded leasehold interest, the applicable assignment or sublease
document, executed and acknowledged by such holder, in each case in form sufficient
to give such constructive notice upon recordation and otherwise in form satisfactory
to the Administrative Agent,

     (D) evidence of the insurance required by the terms of the Mortgages, and

     (E) evidence that all other action that the Administrative Agent may deem
necessary or desirable in order to create valid first and subsisting Liens on the
property described in the Mortgages has been taken;

     (v) the Post Closing Agreement duly executed by each of the parties thereto;

     (vi) such certificates of resolutions or other action, incumbency certificates and/or
other certificates of Responsible Officers of each Loan Party or the General Partner acting
on behalf 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 or is to be a party;

     (vii) such documents and certifications as the Administrative Agent may reasonably
require to evidence that each Loan Party is duly organized or formed, and that the Borrower
and each Subsidiary Guarantor 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;

     (viii) a favorable opinion of McGuireWoods LLP, counsel to the Loan Parties, addressed
to the Administrative Agent and each Lender, as to the matters concerning the Loan Parties
and the Loan Documents as the Required Lenders may reasonably request;

     (ix) a favorable opinion of local counsel to the Loan Parties in each of Alaska,
California, Idaho, Montana, North Dakota, Utah and Washington addressed to the
Administrative Agent and each Lender, as to the matters concerning the Loan Parties and the
Loan Documents as the Required Lenders may reasonably request;

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     (x) a certificate of a Responsible Officer of the General Partner on behalf of all Loan
Parties either (A) attaching copies of all consents, licenses and approvals required in
connection with the consummation by such Loan Party or Loan Parties of the Transaction and
the execution, delivery and performance by such Loan Party or Loan Parties and the validity
against such Loan Party or Loan Parties of the Loan Documents to which it is a party, and
such consents, licenses and approvals shall be in full force and effect, or (B) stating that
no such consents, licenses or approvals are so required;

     (xi) a certificate signed by a Responsible Officer of the Borrower certifying (A) that
the conditions specified in Sections 4.02(a) and (b) have been satisfied and
(B) 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;

     (xii) a business plan and budget of the Borrower and its Subsidiaries on a consolidated
basis, including forecasts prepared by management of the Borrower, of consolidated balance
sheets and statements of income or operations and cash flows of the Borrower and its
Subsidiaries on a monthly basis for the first year following the Closing Date;

     (xiii)
a certificate attesting to the Solvency of the Loan Parties on a consolidated
basis before and after giving effect to the execution and delivery of the Loan Documents,
any Credit Extension to be made on the Closing Date and the consummation of the Transaction,
from the chief financial officer of the Borrower;

     (xiv) all existing Phase I environmental assessments and other audits, assessments, or
reports relating to environmental conditions or compliance with Environmental Laws which
have been previously conducted or other reports, in each case to the extent in the
possession of the Borrower or to the extent existing and otherwise obtainable by the
Borrower, as the Administrative Agent may reasonably require and the Administrative Agent
shall be satisfied in its reasonable discretion with the condition of the properties of the
Borrower and its Subsidiaries with respect to the Borrower’s and its Subsidiaries’ (or their
respective predecessors’) compliance with Environmental Laws; and

     (xv) 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 Administrative Agent, on behalf of the Lenders, 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.

     (b) (i) All fees required to be paid to the Administrative Agent and the Arranger on or before
the Closing Date shall have been paid and (ii) all fees required to be paid to the Lenders on or
before the Closing Date shall have been paid.

     (c) Unless waived by the Administrative Agent, the Borrower shall have paid all fees, charges
and disbursements of counsel to the Administrative Agent (directly to such counsel if

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

     (d) The Loan Parties shall have provided true, correct, and complete copies of all Material
Contracts to the Administrative Agent and the Lenders to the extent not previously provided (and
the Administrative Agent and the Lenders agree that any Material Contracts filed with the SEC in
connection with the Transaction shall be deemed delivered), and the Administrative Agent and the
Lenders shall be satisfied in their reasonable discretion with their review thereof. None of the
material terms or conditions to closing of any party set forth in the Material Contracts shall have
been amended, modified or supplemented without the prior written consent of the Administrative
Agent, and all conditions stated therein shall have been satisfied or, with the prior written
consent of the Administrative Agent, waived.

     (e) The Transaction shall have been completed in accordance with the terms of the Transfer
Documents and applicable Law.

Without limiting the generality of the provisions of Section 9.03(e), 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 Closing Date specifying its objection thereto.

     4.02 Conditions to all Credit Extensions. The obligation of each Lender and each L/C Issuer
to honor any Request for Credit Extension (other than a Revolving Credit Loan Notice requesting
only a conversion of Revolving Credit Loans to the other Type, or a continuation of Eurodollar Rate
Loans) is subject to the following conditions precedent:

     (a) The representations and warranties of the Borrower and each other Loan Party contained in
Article 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 in all material
respects (except for such representations and warranties that have a materiality or Material
Adverse Effect qualification, which shall 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 in all material
respects (except for such representations and warranties that have a materiality or Material
Adverse Effect qualification, which shall be true and correct in all respects) as of such earlier
date, and except that for purposes of this Section 4.02, the representations and warranties
contained in Sections 5.05(a) and (b) shall be deemed to refer to the most recent
statements furnished pursuant to Sections 6.01(a) and (b), respectively.

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

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

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

     5.02 Authorization; No Contravention. The execution, delivery and performance by each Loan
Party of each Loan Document and Transfer Document to which such Person is or is to be a party have
been duly authorized by all necessary corporate or other organizational action, and do not and will
not (a) violate any of such Person’s Organization Documents; (b) result in the creation of any Lien
not permitted by the Loan Documents or violate (i) any material Contractual Obligation to which
such Person is a party or by which it or any of its properties is bound or (ii) any order,
injunction, writ or decree of any Governmental Authority or any arbitral award to which such Person
or its property is subject; or (c) violate any Law.

     5.03 Governmental Authorization; Other Consents. No approval, consent, exemption,
authorization, or other action by, or notice to, or filing with, any Governmental Authority or any
other Person is necessary or required in connection with (a) the execution, delivery or performance
by, or enforcement against, any Loan Party of this Agreement or any other Loan Document or Transfer
Document or for the consummation of the Transaction, (b) the grant by any Loan Party of the Liens
granted by it pursuant to the Collateral Documents, (c) the perfection or maintenance of the Liens
created under the Collateral Documents (including the first priority nature thereof, subject to
Liens permitted under Section 7.01 and Permitted Encumbrances) or (d) the exercise by the
Administrative Agent or any Lender of its rights under the Loan Documents or the remedies in
respect of the Collateral pursuant to the Collateral Documents, except (i) for the authorizations,
approvals, actions, notices and filings which have been duly obtained, taken, given or made and are
in full force and effect and (ii) to the extent that

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the failure of any approval, consent, exemption, authorization, or other action by, or notice
to, or filing with, any Governmental Authority or any other Person to have been duly obtained,
taken, given, or made or to be in full force and effect, individually or in the aggregate, could
not reasonably be expected to have a Material Adverse Effect.

     5.04 Binding Effect. This Agreement has been, and each other Loan Document, when delivered
hereunder, will have been, duly executed and delivered by each Loan Party that is party thereto.
This Agreement constitutes, and each other Loan Document when so delivered will constitute, a
legal, valid and binding obligation of such Loan Party, enforceable against each Loan Party that is
party thereto in accordance with its terms, except as may be limited by any applicable bankruptcy,
insolvency, reorganization, moratorium, or similar laws affecting creditors’ rights generally or by
general principles of equity.

     5.05 Financial Statements; No Material Adverse Effect. (a) The Audited Financial Statements
(i) were prepared in accordance with GAAP consistently applied throughout the period covered
thereby, except as otherwise expressly noted therein; (ii) fairly present the financial condition
of the Borrower and its Subsidiaries as of the date thereof and their results of operations for the
period covered thereby in accordance with GAAP consistently applied throughout the period covered
thereby, except as otherwise expressly noted therein; and (iii) show all material indebtedness and
other liabilities, direct or contingent, of the predecessor business of the Borrower and its
Subsidiaries as of the date thereof, including liabilities for taxes, material commitments and
Indebtedness that would be required to be disclosed in consolidated financial statements of the
Borrower or the footnotes thereto prepared in accordance with GAAP.

     (b) The unaudited pro forma combined balance sheet of Borrower’s Predecessor and its
Subsidiaries for the three fiscal quarter period ending September 30, 2010 and the related pro
forma combined statements of income or operations, partners’ capital, retained earning and cash
flows for the three fiscal quarter period ended on that date (i) were prepared in accordance with
GAAP consistently applied throughout the period covered thereby, except as otherwise expressly
noted therein, and (ii) fairly present the financial condition of the Borrower and its Subsidiaries
as of the date thereof and their results of operations for the period covered thereby, subject to
the absence of footnotes and to normal year-end audit adjustments.

     (c) 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.

     (d) The consolidated forecasted balance sheet, statements of income and cash flows of the
Borrower and its Subsidiaries delivered pursuant to Section 4.01 or Section 6.01(c)
were prepared in good faith on the basis of the assumptions stated therein, which assumptions were
fair in light of the conditions existing at the time of delivery of such forecasts, and
represented, at the time of delivery, the Borrower’s best estimate of its future financial
condition and performance.

     5.06 Litigation. There are no actions, suits, proceedings, claims or disputes pending or, to
the knowledge of the Borrower, threatened, at law, in equity, or in arbitration or before any
Governmental Authority (including, without limitation, FERC or any equivalent state regulatory

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authority), by or against the Borrower or any of its Subsidiaries or against any of their
properties or revenues that (a) purport to affect or pertain to this Agreement, any other Loan
Document, any Transfer Document or the consummation of the Transaction, or (b) except as
specifically disclosed in Schedule 5.06 (the “Disclosed Litigation”), either
individually or in the aggregate, if determined adversely, could reasonably be expected to have a
Material Adverse Effect, and there has been no materially adverse change in the status, or
financial effect on any Loan Party or any Subsidiary thereof, of the matters described in
Schedule 5.06.

     5.07 No Default. Neither any Loan Party nor any Subsidiary thereof is in default under any
Contractual Obligation that could, either individually or in the aggregate, reasonably be expected
to have a Material Adverse Effect. No Default has occurred and is continuing or would result from
the consummation of the transactions contemplated by this Agreement or any other Loan Document.

     5.08 Title; Etc. (a) The Borrower and each of its Subsidiaries has indefeasible title in fee
simple to, or valid leasehold or easement interests in, all of their respective real property, and
good title to all of their respective personal property, including, without limitation, the real
and personal property described in each of the Mortgages, as is necessary to operate the Business
except for defects that, individually or in the aggregate, (i) do not materially interfere with the
ordinary conduct of Business and (ii) do not have a Material Adverse Effect. None of such property
is subject to any Lien, except for Liens permitted by Section 7.01.

     (b) The Pipeline Systems are covered by recorded fee deeds, rights of way, easements, leases,
servitudes, permits, licenses, or other instruments (collectively, “Pipeline Rights”) in
favor of the Borrower or its Subsidiaries, except where the failure of the Pipeline Systems to be
so covered, individually or in the aggregate, (i) does not materially interfere with the ordinary
conduct of Business and (ii) do not have a Material Adverse Effect. The Pipeline Rights establish
a contiguous and continuous right of way for the Pipeline Systems and grant the Borrower or its
Subsidiaries the right to construct, operate, and maintain the Pipeline Systems in, over, under, or
across the land covered thereby in the same way that a prudent owner and operator would inspect,
operate, repair, and maintain similar assets and in the same way as the Borrower or its
Subsidiaries have inspected, operated, repaired, and maintained the Pipeline Systems as reflected
in the Audited Financial Statements; provided, however, (A) some of the Pipeline Rights
granted to the Borrower or its Subsidiaries by private parties and Governmental Authorities are
revocable at the right of the applicable grantor or its successors-in-interest, (B) some of the
rights of way may cross properties that are subject to Liens, covenants, conditions, and
restrictions in favor of third parties that have not been subordinated to the Pipeline Rights; and
(C) some rights of way are subject to certain defects, limitations and restrictions;
provided, further, that none of the limitations, defects, and restrictions
described in clauses (A), (B) and (C) above, individually or in the aggregate, (x) materially
interfere with the ordinary conduct of Business or (y) have a Material Adverse Effect.

     (c) The Terminals are covered by fee deeds, real property leases, or other instruments
(collectively “Terminal Deeds”) in favor of the Borrower or its Subsidiaries. The Terminal
Deeds grant the Borrower or its Subsidiaries the right to construct, operate, and maintain the
Terminals in, over, under, and across the land covered thereby in the same way that a prudent owner
and operator would inspect, operate, repair, and maintain similar assets and in the same

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way as the Borrower or its Subsidiaries have inspected, operated, repaired, and maintained the
Terminals as reflected in the Audited Financial Statements, subject to Permitted Encumbrances.

     (d) There has been no and there is not presently any occurrence of any (i) breach or event of
default on the part of the Borrower or any of its Subsidiaries with respect to any Pipeline Right
or Terminal Deed, (ii) to the knowledge of the Borrower or any of its Subsidiaries, breach or event
of default on the part of any other party to any Pipeline Right or Terminal Deed, and (iii) event
that, with the giving of notice or lapse of time or both, would constitute such breach or event of
default on the part of the Borrower or any of its Subsidiaries with respect to any Pipeline Right
or Terminal Deed or, to the knowledge of the Borrower or any of its Subsidiaries, on the part of
any other party thereto, in each case, to the extent any such breach or default, individually or in
the aggregate, (A) materially interferes with the ordinary conduct of Business or (B) has a
Material Adverse Effect. The Pipeline Rights and Terminal Deeds (to the extent applicable) are in
full force and effect in all material respects and are valid and enforceable against the parties
thereto in accordance with their terms (subject to the effect of any applicable bankruptcy,
reorganization, insolvency, moratorium, fraudulent transfer, fraudulent conveyance or similar laws
effecting creditors’ rights generally and subject, as to enforceability to the effect of general
principles of equity) and all rental and other payments due thereunder by the Borrower, its
Subsidiaries, and their predecessors in interest have been duly paid in accordance with the terms
of the Pipeline Rights and Terminal Deeds, except to the extent that a failure to do so,
individually or in the aggregate, (x) does not materially interfere with the ordinary conduct of
Business and (y) does not have a Material Adverse Effect.

     (e) The Pipeline Systems are located within the confines of the land covered by the Pipeline
Rights and do not encroach upon any adjoining property, except where the failure of any portion of
any of the Pipeline Systems to be so located, individually or in the aggregate, (i) does not
materially interfere with the ordinary conduct of Business and (ii) does not have a Material
Adverse Effect. The Terminals are located within the boundaries of the property affected by the
Terminal Deeds and do not encroach upon any adjoining property, except where the failure of the
Terminal Deeds to be so located, individually or in the aggregate, (i) does not materially
interfere with the ordinary conduct of Business and (ii) does not have a Material Adverse Effect.
The buildings and improvements owned or leased by the Borrower and its Subsidiaries, and the
operation and maintenance thereof, do not (i) contravene any applicable zoning or building law or
ordinance or other administrative regulation or (ii) violate any applicable restrictive covenant or
any applicable Law, the contravention or violation of which would materially affect the use of
such buildings and improvements.

     (f) Neither the Borrower nor any of its Subsidiaries has received any written notice that any
eminent domain proceeding or taking has been commenced with respect to all or any portion of the
Pipeline Systems or the Terminals, and, to the knowledge of the Borrower and its Subsidiaries, no
such proceeding or taking is contemplated except for that which, individually or in the aggregate,
could not reasonably be expected to have a Material Adverse Effect.

     (g) No portion of the Pipeline Systems or the Terminals has, since the Closing Date, suffered
any material damage by fire or other casualty loss that has not heretofore been repaired and
restored. No portion of the Terminals is located in a special flood hazard area as designated

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by any Governmental Authority, except to the extent flood insurance is in force with respect
to such portion.

     5.09 Environmental Compliance; Permits. (a) The Loan Parties and their respective
Subsidiaries conduct in the ordinary course of business a review of the effect of existing and
proposed Environmental Laws and known or suspected Environmental Liabilities on their respective
businesses, operations and properties, and as a result thereof the Borrower has reasonably
concluded that, except as specifically disclosed in Schedule 5.09, such Environmental
Liabilities could not, individually or in the aggregate, reasonably be expected to have a Material
Adverse Effect. Prior to contributing the applicable Contributed Assets, the Contributing
Affiliates conducted in the ordinary course of business a review of the effect of existing and
proposed Environmental Laws and known or suspected Environmental Liabilities on their respective
businesses, operations and properties, and as a result thereof the Borrower has concluded that,
except as specifically disclosed in Schedule 5.09, such Environmental Laws and
Environmental Liabilities could not, individually or in the aggregate, reasonably be expected to
have a Material Adverse Effect.

     (b) Except for matters that, individually or in the aggregate, could not reasonably be
expected to have a Material Adverse Effect, (i) the Loan Parties and their Subsidiaries are and
have been in compliance with all applicable Environmental Laws and are not subject to any pending
or threatened claim or proceeding relating to Environmental Laws or Hazardous Materials, and (ii)
prior to contributing the applicable Contributed Assets and with respect to the Contributed Assets
only, the Contributing Affiliates were in compliance with all applicable Environmental Laws and
were not subject to any pending or threatened claim or proceeding relating to Environmental Laws or
Hazardous Materials.

     (c) Except for matters that, individually or in the aggregate, could not reasonably be
expected to have a Material Adverse Effect, none of the properties currently owned or operated by
any Loan Party or any of its Subsidiaries is listed or proposed for listing on the NPL or on the
CERCLIS or any analogous foreign, state or local list.

     (d) Except for matters that, individually or in the aggregate, could not reasonably be
expected to have a Material Adverse Effect: (i) neither any Loan Party nor any of its Subsidiaries
is undertaking, and has not completed, either individually or together with other potentially
responsible parties, any investigation or assessment or remedial or response action relating to any
actual, threatened, or suspected release, discharge or disposal of Hazardous Materials at any site,
location or operation, either voluntarily or pursuant to the order of any Governmental Authority or
the requirements of any Environmental Law; and all Hazardous Materials generated, used, treated,
handled or stored at, or transported to or from, any property currently or formerly owned or
operated by any Loan Party or any of its Subsidiaries have been disposed of in a manner not
reasonably expected to result in any Environmental Liability to any Loan Party or any of its
Subsidiaries; and (ii) prior to contributing the applicable Contributed Assets, and with respect to
the Contributed Assets only, neither any Contributing Affiliate nor any of its Subsidiaries had
undertaken, and had not completed, either individually or together with other potentially
responsible parties, any investigation or assessment or remedial or response action relating to any
actual, threatened, or suspected release, discharge or disposal of Hazardous Materials at any site,
location or operation, either voluntarily or pursuant to the order of any Governmental Authority

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or the requirements of any Environmental Law; and all Hazardous Materials generated, used,
treated, handled or stored at, or transported to or from, any property owned or operated at or
prior to the time of the contribution of the applicable Contributed Assets by any Contributing
Affiliate or any of its Subsidiaries were disposed of in a manner not reasonably expected to result
in any Environmental Liability to any Contributing Affiliate or any of its Subsidiaries.

     (e) Except for matters that, individually or in the aggregate, could not reasonably be
expected to have a Material Adverse Effect, (i) the Borrower and each of its Subsidiaries (A) have
obtained all Environmental Permits necessary for the ownership and operation of its real properties
and the conduct of its Business, which are in full force and effect; (B) have been and are in
compliance with all terms and conditions of such Environmental Permits; and (C) have not received
written notice of any violation or alleged violation of any Environmental Permit, and (ii) prior to
contributing the applicable Contributed Assets, each of the Contributing Affiliates (A) had
obtained all Environmental Permits necessary for the ownership and operation of the Contributed
Assets, which were in full force and effect at such time; (B) were in compliance with all terms and
conditions of such Environmental Permits; and (C) had not received written notice of any violation
or alleged violation of any Environmental Permit.

     5.10 Insurance. The properties of the Borrower and its Subsidiaries are insured with
insurance companies not Affiliates of the Borrower, in such amounts (after giving effect to any
self-insurance compatible with the following standards), with such deductibles and covering such
risks as are customarily carried by companies engaged in similar businesses and owning similar
properties in localities where the Borrower or the applicable Subsidiary operates.

     5.11 Taxes. The Borrower and its Subsidiaries have filed all Federal, state and other
material tax returns and reports required to be filed, 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 (a) those which are being
contested in good faith by appropriate proceedings diligently conducted and for which adequate
reserves have been provided in accordance with GAAP and (b) to the extent that the failure to do so
could not reasonably be expected to have a Material Adverse Effect. There is no proposed tax
assessment against the Borrower or any Subsidiary that would, individually or in the aggregate, if
made, have a Material Adverse Effect. Neither any Loan Party nor any Subsidiary thereof is party
to any tax sharing agreement except as set forth on Schedule 5.11.

     5.12 ERISA Compliance. (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 Plan that is
intended to be a qualified plan under Section 401(a) of the Code has received a favorable
determination letter from the Internal Revenue Service 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
Internal Revenue Service 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 Internal Revenue Service. To
the best knowledge of the 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 the Borrower, threatened claims, actions
or lawsuits, or action by any Governmental Authority, with respect to any Plan

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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 the Borrower 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) the Borrower 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) 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
the Borrower 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 the Borrower 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 the Borrower 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 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.

     5.13 Subsidiaries; Equity Interests; Loan Parties. As of the Closing Date, no Loan Party has
any Subsidiaries other than those specifically disclosed in Part (a) of Schedule 5.13, and
all of the outstanding Equity Interests in such Subsidiaries have been validly issued, are fully
paid and non-assessable and are owned by a Loan Party in the amounts specified on Part (a) of
Schedule 5.13 free and clear of all Liens except those created under the Collateral
Documents. As of the Closing Date, no Loan Party has any equity investments in any other
corporation or entity other than those specifically disclosed in Part (b) of Schedule 5.13.
Set forth on Part (c) of Schedule 5.13 is a complete and accurate list of all Loan
Parties, showing as of the Closing Date (as to each Loan Party) the jurisdiction of its
incorporation, the address of its principal place of business and its U.S. taxpayer identification
number or, in the case of any non-U.S. Loan Party that does not have a U.S. taxpayer identification
number, its unique identification number issued to it by the jurisdiction of its incorporation.

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

     (b) None of the Borrower, any Person Controlling the Borrower, or any Subsidiary is or is
required to be registered as an “investment company” under the Investment Company Act of
1940.

     5.15 Disclosure. The Borrower has disclosed to the Administrative Agent and the Lenders all
agreements, instruments, and corporate or other restrictions to which it or any of its Subsidiaries
is subject, and all other matters known to it, that, individually or in the aggregate,

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could reasonably be expected to result in a Material Adverse Effect. No report, financial
statement, certificate or other written information furnished by or on behalf of any Loan Party to
the Administrative Agent or any Lender in connection with the transactions contemplated hereby and
the negotiation of this Agreement or delivered hereunder or under any other Loan Document (in each
case as modified or supplemented by other information so furnished), when taken as a whole,
contains any material misstatement of fact or omits to state any material fact necessary to make
the statements therein, in the light of the circumstances under which they were made, not
misleading; provided that, with respect to projected financial information, the Borrower
represents only that such information was prepared in good faith based upon assumptions believed to
be reasonable at the time.

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

     5.17 Intellectual Property; Licenses, Etc. The Borrower and each of its Subsidiaries own,
or possess the right to use, all of the trademarks, service marks, trade names, copyrights,
patents, patent rights, franchises, licenses and other intellectual property rights that are
reasonably necessary for the operation of their respective businesses, without conflict with the
rights of any other Person, except, in each case, where the failure of the same, either
individually or in the aggregate, could not be reasonably be expected to have a Material Adverse
Effect. 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 of its
Subsidiaries infringes upon any rights held by any other Person, which infringements, individually
or in the aggregate, could reasonably be excepted to have a Material Adverse Effect.

     5.18 Solvency. The Loan Parties are, on a consolidated basis, Solvent.

     5.19 [Intentionally Omitted].

     5.20 Labor Matters. There are no strikes, slowdowns, work stoppages, or controversies
pending or, to the knowledge of the Borrower, threatened against the Borrower or any of its
Subsidiaries which could have, either individually or in the aggregate, a Material Adverse Effect.

     5.21 Collateral Documents. Tesoro High Plains is a “transmitting utility” within the
meaning of Section 9.501(b) of each of the North Dakota Uniform Commercial Code and the Montana
Uniform Commercial Code. Opco is a “transmitting utility” within the meaning of Section 9.501(b)
of the Utah Uniform Commercial Code. The provisions of the Collateral Documents are effective to
create in favor of the Administrative Agent for the benefit of the Secured Parties a legal, valid
and enforceable first priority Lien (subject to Liens permitted by Section 7.01) on all
right, title and interest of the respective Loan Parties in the Collateral described therein.
Except for filings completed prior to the Closing Date and as contemplated

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hereby and by the Collateral Documents, no filing or other action will be necessary to perfect
such Liens.

     5.22 State and Federal Regulation.

     (a) In order to comply with the Interstate Commerce Act, the Energy Policy Act, and
regulations promulgated by the FERC to implement those statutes, Borrower or Borrower’s Affiliates,
as applicable, have on file with the FERC tariffs that govern the interstate transportation of
Crude Oil on the Pipeline Systems, except for any Utah FERC Jurisdictional Requirement that has
been ordered or imposed but for which time period for compliance therewith has not expired.
Except as set forth on Schedule 5.22(a), neither the Borrower, any of the Borrower’s
Subsidiaries, nor any other Person that now owns an interest in any of the Pipeline Systems has
been within the past three (3) years or is the subject of a complaint, investigation or other
proceeding at the FERC regarding their respective rates or practices with respect to the Pipeline
Systems. No complaint or investigation is currently pending before the FERC, nor to the knowledge
of any Loan Party is any such complaint or investigation currently contemplated, that could result
in, if adversely determined to the position or interest of the Borrower or its applicable
Subsidiaries, or could reasonably be expected to result in, a Material Adverse Effect.

     (b) With respect to the intrastate common carrier pipeline services and operations that
are provided by the Pipeline Systems in the State of North Dakota (the “North Dakota Intrastate
Pipeline Services”), each Subsidiary of the Borrower which owns pipelines and conducts pipeline
operations in the State of North Dakota has filed with the North Dakota Public Service Commission
(“NDPSC”) tariffs applicable to such services that comply with Chapter 49-19 of the North
Dakota Century Code and regulations issued thereunder by the NDPSC. Except to the extent that any
of the following could not reasonably be expected to result in a Material Adverse Effect, (i) the
rates charged by the Borrower’s Subsidiaries with respect to the North Dakota Intrastate Pipeline
Services have not been challenged, protested or subject to complaint in writing by the NDPSC or by
any shipper or potential shipper as being unreasonable, excessive or unlawfully discriminatory, or
otherwise unlawful and (ii) none of the NDPSC or any shipper or potential shipper has threatened in
writing to challenge, protest or complain that such rates are unreasonable, excessive or unlawfully
discriminatory, or otherwise unlawful. Neither the Borrower nor any of the Borrower’s Subsidiaries
has been within the past three (3) years or is presently the subject of a written complaint,
investigation or other proceeding regarding their respective rates or practices with respect to
such services except to the extent the same could not reasonably be expected to result in a
Material Adverse Effect.

     (c) With respect to those certain common carrier pipeline services and operations that are
provided by the Pipeline Systems in the State of Montana, each Subsidiary of the Borrower which
owns pipelines and conducts pipeline operations in the State of Montana has determined that no
tariff filing with any regulatory agency of the State of Montana is necessary because all pipeline
services within the State of Montana are interstate common carrier services that are governed
exclusively by the FERC. Except to the extent that any of the following could not reasonably be
expected to result in a Material Adverse Effect, neither the Borrower nor any Subsidiary of the
Borrower which owns pipelines and conducts pipeline services and operations in the State of Montana
has been subject to any written challenge, protest or complaint by any

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party, including any agency of the State of Montana, with respect to (i) the jurisdiction of
the State of Montana or any agency thereof over such pipelines and pipeline services and operations
in the State of Montana, or (ii) the lack of a tariff filing with any regulatory agency of the
State of Montana regarding such pipeline services and operations.

     (d) With respect to pipeline services and operations that are situated or conducted in the
State of Utah, each Subsidiary of the Borrower which owns such pipelines and conducts such pipeline
operations has determined that the rates and terms and conditions of shipment are not subject to
regulation by the State of Utah, any administrative agency of the State of Utah, or the FERC.
Except to the extent that any Utah FERC Jurisdictional Requirement has been ordered or imposed, the
Borrower and its Subsidiaries have determined that no tariff filing is required with respect to
pipeline services and operations within the State of Utah. Except to the extent that any of the
following could not reasonably be expected to result in a Material Adverse Effect, neither the
Borrower nor any Subsidiary of the Borrower which owns pipelines and conducts pipeline services and
operations in the State of Utah has been subject to any written challenge, protest or complaint by
any party, including any agency of the State of Utah or FERC, with respect to (i) the jurisdiction
of the State of Utah or any agency thereof over such pipelines and pipeline services and operations
in the State of Utah, (ii) the jurisdiction of FERC over such pipelines and pipeline services and
operations in the State of Utah, or (iii) with respect to the lack of a tariff filing with any
regulatory agency of the State of Utah or the FERC regarding such pipeline services and operations.

     (e) With respect to those pipeline services and operations that are situated or conducted
in any State other than the States of North Dakota, Montana and Utah, except to the extent that any
of the following could not reasonably be expected to result in a Material Adverse Effect, (i) (A)
each Loan Party which owns such pipelines and conducts such pipeline operations has determined that
the rates and terms and conditions of shipment thereon are not subject to regulation by any State
Pipeline Regulatory Agency, any other administrative agency of the such State, or the FERC, and (B)
none of such Loan Parties has been subject to any written challenge, protest or complaint by any
party, including any agency of such State or FERC, with respect to (1) the jurisdiction of such
State or any agency thereof over such pipelines and pipeline services and operations, (2) the
jurisdiction of FERC over such pipelines and pipeline services and operations, or (3) with respect
to the lack of a tariff filing with any regulatory agency of the such State or the FERC regarding
such pipeline services and operations, or (ii) each Loan Party which owns such pipelines and
conducts such pipeline operations has filed with the applicable State Pipeline Regulatory Agency or
the FERC tariffs applicable to such services that comply with applicable Law and any regulations
issued thereunder by the State Pipeline Regulatory Agency or the FERC.

     (f) Each of the Borrower and its Subsidiaries is in compliance with all rules, regulations
and orders of the FERC and all State Pipeline Regulatory Agencies applicable to the Pipeline
Systems, except for any Utah FERC Jurisdictional Requirement that has been ordered or imposed but
for which time period for compliance therewith has not expired, and except to the extent that any
noncompliance, either individually or in the aggregate, could not reasonably be expected to have a
Material Adverse Effect.

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     (g) Each of the Borrower and its Subsidiaries, to the extent applicable, is in compliance
with all Department of Transportation, Pipeline and Hazardous Materials Safety Administration
(“PHMSA”) regulations applicable to the Pipeline Systems, including but not limited to all
such regulations pertaining to pipeline safety and integrity, control room management, personnel
management and qualification, and annual and specific incident reports, except to the extent that
any noncompliance, either individually or in the aggregate, could not reasonably be expected to
have a Material Adverse Effect. As of the Closing Date, none of the Contributing Affiliates has
been subject to any material enforcement or remedial action by or involving PHMSA within the past
three (3) years. Neither the Borrower nor any of its Subsidiaries, to the extent applicable, has
been subject to any material enforcement or remedial action by or involving PHMSA within the past
three (3) years, except to the extent that any such enforcement or remedial action, either
individually or in the aggregate, could not reasonably be expected to have a Material Adverse
Effect.

     (h) As of the Closing Date, none of the Borrower or its Subsidiaries is liable for any
material refunds or interest thereon as a result of an order from the FERC or any other
Governmental Authority with jurisdiction over the Pipeline Systems.

     (i) The Borrower’s and any applicable Subsidiary’s annual FERC Form No. 6 with respect to
the Pipeline Systems filed with the FERC since 2005 has been filed on a timely basis, except to the
extent that the time for filing any such annual form has been extended by the FERC.

     (j) Without limiting the generality of Section 5.03 of this Agreement, and except
as to tariffs on file at the FERC and at applicable State Pipeline Regulatory Agencies, no material
certificate, license, permit, consent, authorization or order (to the extent not otherwise
obtained) is required by the Borrower or any of its Subsidiaries from any Governmental Authority to
construct, own, operate and maintain the Pipeline Systems, or to transport and/or distribute Crude
Oil or Refined Products under existing contracts, agreements and tariffs as the Pipeline Systems
are presently owned, operated and maintained.

     5.23 Title to Crude Oil and Refined Products. None of the Borrower or any of its
Subsidiaries have title to any material portion of the Crude Oil, Refined Products or other
petroleum products that are stored or handled at any Terminal or that are transported through the
Pipeline Systems. The Borrower and its Subsidiaries require that each shipper whose Crude Oil,
Refined Products or other petroleum products are transported through the Pipeline Systems warrant
that such shipper has title, free and clear of all Liens, to all such Crude Oil, Refined Products
or other petroleum products tendered to the Pipeline System for transportation.

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 (other than
those as to which arrangements satisfactory to the Administrative Agent and the applicable L/C
Issuer shall have been made in accordance with Section 9.10), the Borrower shall,

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and shall (except in the case of the covenants set forth in Sections 6.01, 6.02,
6.03 and 6.11) cause each of its Subsidiaries to:

     6.01 Financial Statements. Deliver to the Administrative Agent for further distribution
to each Lender:

     (a) as soon as available, but in any event within 105 days after the end of each fiscal
year of the Borrower (or, if earlier, 15 days after the date required to be filed with the SEC
(without giving effect to any extension permitted by the SEC)), a consolidated balance sheet of the
Borrower and its Subsidiaries as at the end of such fiscal year, and the related consolidated
statements of income or operations, changes in partners’ capital, retained earnings and cash flows
for such fiscal year, setting forth in each case in comparative form the figures for the previous
fiscal year, all in reasonable detail and prepared in accordance with GAAP, such consolidated
statements to be audited and accompanied by a report and opinion of an independent certified public
accountant of nationally recognized standing reasonably acceptable to the Required Lenders, which
report and opinion shall be prepared in accordance with generally accepted auditing standards and
shall not be subject to any “going concern” or like qualification or exception or any
qualification or exception as to the scope of such audit;

     (b) as soon as available, but in any event within 60 days after the end of each of the
first three fiscal quarters of each fiscal year of the Borrower (or, if earlier, 5 days after the
date required to be filed with the SEC (without giving effect to any extension permitted by the
SEC)) (commencing with the fiscal quarter of the Borrower ending June 30, 2011), a consolidated
balance sheet of the Borrower and its Subsidiaries as at the end of such fiscal quarter, and the
related consolidated statements of income or operations, changes in partners’ capital, retained
earnings and cash flows for such fiscal quarter and for the portion of the Borrower’s fiscal year
then ended, setting forth in each case in comparative form the figures for the corresponding fiscal
quarter of the previous fiscal year and the corresponding portion of the previous fiscal year, all
in reasonable detail, such consolidated statements to be certified by a Financial Officer of the
Borrower as fairly presenting the financial condition, results of operations, partners’ capital,
retained earnings and cash flows of the Borrower and its Subsidiaries in accordance with GAAP,
subject only to normal year-end audit adjustments and the absence of footnotes;

     (c) as soon as available, but in any event at least 30 days after the end of each fiscal
year of the Borrower, an annual business plan and budget of the Borrower and its Subsidiaries on a
consolidated basis, including forecasts prepared by management of the Borrower, in form
satisfactory to the Administrative Agent and the Required Lenders, of consolidated balance sheets
and statements of income or operations and cash flows of the Borrower and its Subsidiaries on a
quarterly basis for the such fiscal year (including the fiscal year in which the Maturity Date
occurs).

     6.02 Certificates; Other Information. Deliver to the Administrative Agent:

     (a) concurrently with the delivery of the financial statements referred to in Section
6.01(a), a certificate of its independent certified public accountants certifying such
financial statements and stating that in making the examination necessary therefor no knowledge

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was obtained of any Default under the financial covenants set forth herein or, if any such Default
shall exist, stating the nature and status of such event;

     (b) concurrently with the delivery of the financial statements referred to in Sections
6.01(a) and (b), a duly completed Compliance Certificate signed by a Financial Officer
of the Borrower (which delivery may, unless the Administrative Agent, or a Lender requests executed
originals, be by electronic communication including fax or email and shall be deemed to be an
original authentic counterpart thereof for all purposes);

     (c) promptly after any reasonable request by the Administrative Agent or any Lender,
copies of any detailed audit reports, management letters or recommendations submitted to the board
of directors (or the audit committee of the board of directors) of any Loan Party by independent
accountants in connection with the accounts or books of any Loan Party or any of its Subsidiaries,
or any audit of any of them;

     (d) promptly after the same are available, copies of each annual report, proxy or
financial statement or other report or communication sent to the stockholders, partners or members
(or the equivalent of any thereof) of any Loan Party, and copies of all annual, regular, periodic
and special reports and registration statements which the Borrower or any of its Subsidiaries may
file or be required to file with the SEC under Section 13 or 15(d) of the Exchange Act, or with any
national securities exchange, and in any case not otherwise required to be delivered to the
Administrative Agent pursuant hereto;

     (e) promptly after the furnishing thereof, copies of any statement or report furnished to
any holder of debt securities of any Loan Party or of any of its Subsidiaries pursuant to the terms
of any indenture, loan or credit or similar agreement regarding or related to any breach or default
by any party thereto or any other event that could materially impair the value of the interests or
the rights of any Loan Party or otherwise have a Material Adverse Effect and not otherwise required
to be furnished to the Lenders pursuant to Section 6.01 or any other clause of this
Section 6.02;

     (f) as soon as available, but in any event within 30 days after each annual renewal of the
applicable insurance policies, a certificate summarizing the insurance coverage (specifying type,
amount and carrier) in effect for the Borrower and its Subsidiaries and such additional information
regarding such insurance coverage as the Administrative Agent, or any Lender through the
Administrative Agent, may reasonably specify;

     (g) promptly, and in any event within 15 days after receipt thereof by any Loan Party or
any Subsidiary thereof, copies of each notice or other correspondence received from the SEC (or
comparable agency in any applicable non-U.S. jurisdiction) concerning any investigation or other
material inquiry by such agency regarding financial or other operational results of any Loan Party
or any Subsidiary thereof;

     (h) [intentionally omitted];

     (i) promptly after the assertion or occurrence thereof, notice of any action or proceeding
against or of any noncompliance by any Loan Party or any of its Subsidiaries with any Environmental
Law or Environmental Permit or any action, investigation or proceeding

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relating to Hazardous Materials that could (i) reasonably be expected to have a Material
Adverse Effect or (ii) cause any property described in the Mortgages to be subject to any
restrictions on ownership, occupancy, use or transferability under any Environmental Law that would
materially interfere with or adversely impact the use of the affected property in the Business;

     (j) as soon as available but in any event at least prior to the closing of any material
Acquisition (including any Specified Acquisition), copies of the definitive documents regarding the
acquired assets, including any schedules reflecting litigation liabilities, environmental
liabilities, and other assumed liabilities and any other information regarding the acquired assets
as the Administrative Agent may reasonably request;

     (k) promptly and in any event within five Business Days after receipt thereof by the
Borrower and its Subsidiaries, a copy of any material notice, summons, citation, proceeding or
order received from the FERC or any other Governmental Authority concerning the regulation of any
material portion of the Pipeline Systems;

     (l) if the Borrower elects to have a Specified Acquisition Period apply with respect to a
Specified Acquisition, written notice of such election within 30 days of the consummation of the
Specified Acquisition; and

     (m) promptly, such additional information regarding the business, financial, legal or
corporate affairs of any Loan Party or any Subsidiary thereof, or compliance with the terms of the
Loan Documents, as the Administrative Agent may from time to time reasonably request.

Documents required to be delivered pursuant to Section 6.01(a) or (b) or
Section 6.02(c) (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 date (i) on which the Borrower posts such documents, or provides a link thereto on
the Borrower’s website on the Internet at the website address listed on Schedule 10.02; or
(ii) on which such documents are posted on the Borrower’s behalf on an Internet or intranet
website, if any, to which each Lender and the Administrative Agent have access (whether a
commercial, third-party website or whether sponsored by the Administrative Agent); provided
that the Borrower shall deliver paper copies of any Compliance Certificate to the Administrative
Agent upon its request to the Borrower to deliver such paper copies until a written request to
cease delivering paper copies is given by the Administrative Agent. The Administrative Agent shall
have no obligation to request the delivery of or to maintain paper copies of the documents referred
to above, and in any event shall have no responsibility to monitor compliance by the Borrower, as
applicable, with any such request by a Lender for delivery, and each Lender shall be solely
responsible for requesting delivery to it or maintaining its copies of such documents.

The Borrower hereby acknowledges that (a) the Administrative Agent and/or the Arranger 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, “Materials”) by posting the 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

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respect to such Persons’ securities. The Borrower hereby agrees that it will use commercially
reasonable efforts to identify that portion of the Materials that may be distributed to the Public
Lenders and that (w) all such Materials 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 Materials “PUBLIC,” the Borrower shall be deemed to have
authorized the Administrative Agent, the Arranger, the L/C Issuers and the Lenders to treat such
Materials as not containing any material non-public information (although it may be sensitive and
proprietary) with respect to the Borrower or its securities for purposes of United States Federal
and state securities laws (provided, however, that to the extent such Materials
constitute Information, they shall be treated as set forth in Section 10.07); (y) all
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 Materials that are not marked “PUBLIC” as being
suitable only for posting on a portion of the Platform not designated “Public Side
Information.” The Administrative Agent and the Borrower acknowledge that no Materials will be
marked “PUBLIC” other than publicly available information filed by the Loan Parties with
the SEC.

     6.03 Notices. Promptly notify the Administrative Agent:

     (a) of the occurrence of any Default;

     (b) of any matter that has resulted or could reasonably be 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,
proceeding, or legal requirement or regulation affecting the Borrower or any Subsidiary, including
pursuant to any applicable Environmental Laws;

     (c) of the occurrence of any ERISA Event;

     (d) of any material change in accounting policies or financial reporting practices by any
Loan Party or any Subsidiary thereof, including any determination by the Borrower referred to in
Section 2.09(b); and

     (e) of any material Collateral Loss, including all Collateral Losses where the aggregate
damage to the Collateral and/or lost revenues of the Loan Parties could reasonably be expected to
exceed $10,000,000.

Each notice pursuant to this Section 6.03 shall be accompanied by a statement of a
Responsible Officer of the Borrower setting forth details of the occurrence referred to therein and
stating what action the Borrower has taken and proposes to take with respect thereto. Each notice
pursuant to Section 6.03(a) shall describe with particularity any and all provisions of
this Agreement and any other Loan Document that have been breached.

     6.04 Payment of Obligations. Pay and discharge as the same shall become due and payable,
all its obligations and liabilities, including (a) all tax liabilities, assessments and
governmental charges or levies upon it or its properties or assets; (b) all lawful claims which, if

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unpaid, would by law become a Lien upon its property; and (c) all Indebtedness, as and when
due and payable, but subject to any subordination provisions contained in any instrument or
agreement evidencing such Indebtedness; unless, with respect to any obligation or liability
described in clause (a), (b), or (c) above, such obligation or liability is being contested in good
faith by appropriate proceedings diligently conducted and adequate reserves in accordance with GAAP
are being maintained by the Borrower and each applicable Subsidiary, as applicable.

     6.05 Preservation of Existence, Etc. (a) Preserve, renew and maintain in full force and
effect its legal existence and good standing under the Laws of the jurisdiction of its organization
except in a transaction permitted by Section 7.04 or 7.05; and (b) take all
reasonable action to maintain all rights, privileges, permits, licenses (including intellectual
property licenses) and franchises necessary or desirable in the normal conduct of its business,
except to the extent that failure to do so could not reasonably be expected to have a Material
Adverse Effect.

     6.06 Maintenance of Properties.

     (a) (i) Maintain, preserve and protect all of its material properties and equipment
necessary in the operation of its business in good working order and condition, ordinary wear and
tear excepted; (ii) make all necessary repairs thereto and renewals and replacements thereof except
where the failure to do so could not reasonably be expected to have a Material Adverse Effect; and
(iii) use the standard of care typical in the industry in the operation and maintenance of its
facilities.

     (b) Without limiting Section 6.06(a), (i) maintain or cause the maintenance of the
interests and rights which are necessary to maintain the Pipeline Systems and the Terminals, which
individually or in the aggregate, could, if not maintained, reasonably be expected to have a
Material Adverse Effect; (ii) subject to Permitted Encumbrances, maintain the Pipeline Systems
within the confines of the Pipeline Rights without encroachment upon any adjoining property and
maintain the Terminals within the boundaries of the Terminal Deeds and without encroachment upon
any adjoining property, except where the failure of the Pipeline Systems and Terminals to be so
maintained, individually or in the aggregate, (A) does not materially interfere with the ordinary
conduct of Business, (B) does not materially detract from the use of any of such Pipeline Systems
or Terminals and (C) could not reasonably be expected to have a Material Adverse Effect; (iii)
maintain such rights of ingress and egress necessary to permit the Borrower and its Subsidiaries to
inspect, operate, repair, and maintain the Pipeline Systems and the Terminals to the extent that
failure to maintain such rights, individually or in the aggregate, could reasonably be expected to
have a Material Adverse Effect and provided that the Borrower or any of its Subsidiaries may hire
third parties to perform these functions; and (iv) maintain all material agreements, licenses,
permits, and other rights required for any of the foregoing described in clauses (i), (ii), and
(iii) of this Section 6.06(b) in full force and effect in accordance with their terms,
timely make any payments due thereunder, and prevent any default thereunder which could result in a
termination or loss thereof, except any such failure to maintain or pay or any such default that
could not reasonably, individually or in the aggregate, be expected to cause a Material Adverse
Effect.

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     6.07 Maintenance of Insurance; Insurance Proceeds.

     (a) Maintain with insurance companies not Affiliates of the Borrower, 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
(after giving effect to any self-insurance compatible with the following standards) as are
customarily carried under similar circumstances by such other Persons and providing for not less
than 30 days’ prior notice to the Administrative Agent of termination, lapse or cancellation of
such insurance.

     (b) If the Borrower or any of its Subsidiaries receives any condemnation proceeds or
insurance proceeds (other than business interruption insurance proceeds) on account of any
Collateral Loss, then the following provisions shall apply:

     (i) The Borrower shall, promptly upon receipt thereof, apply (or cause the
applicable Subsidiary to apply) such proceeds first, as a mandatory prepayment of
the then outstanding Revolving Credit Loans, and (A) if an Event of Default is continuing or
(B) until the Borrower delivers to the Administrative Agent a Compliance Certificate or a
certificate of a Financial Officer of the Borrower demonstrating that, after giving effect
to such Collateral Loss on a pro forma basis, the Borrower and its Subsidiaries would have
been in compliance with Sections 7.11(a) and 7.11(b) as of the end of the
most recent fiscal quarter, second to Cash Collateralize the then Outstanding Amount
of all L/C Obligations in an amount equal to 100% of the amount thereof, and third, any
remaining amounts may be retained by the Borrower or the applicable Subsidiary.

     (ii) Subject to the conditions set forth in Section 4.02, the Borrower may
request a Revolving Credit Borrowing to finance the rebuilding, restoration or replacement
of such Collateral or to invest in another capital project that, in the reasonable judgment
of the Borrower, would be more useful to the Business. If the Borrower elects to do any of
the foregoing, then the Borrower shall (A) promptly after making such election, give written
notice thereof to the Administrative Agent, (B) take all actions required by Section
6.12 with respect to such Collateral or other capital project, and (C) work diligently
to complete such rebuilding, restoration, or replacement or such other capital project, as
applicable.

     (iii) Upon the request of the Administrative Agent, after the occurrence and during
the continuance of any Event of Default, the Borrower or any such Subsidiary shall execute
and deliver to the Administrative Agent any additional assignments and other documents as
may be reasonably necessary to enable the Administrative Agent to directly collect any
condemnation proceeds or insurance proceeds.

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

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

     6.10 Inspection Rights. Permit representatives and an independent contractor of the
Administrative Agent to visit and inspect any of its properties once per calendar year, to examine
its corporate, financial and operating records, and make copies thereof or abstracts therefrom, and
to discuss its affairs, finances and accounts with its directors, officers, and independent public
accountants, all at the expense of the Borrower and at such reasonable times during normal business
hours and as often as may be reasonably desired, upon reasonable advance notice to the Borrower;
provided, however, that when an Event of Default exists the Administrative Agent or
any Lender (or any of their respective representatives or independent contractors) may do any of
the foregoing at the expense of the Borrower, at any time during normal business hours and without
advance notice and as many times during any calendar year as such Administrative Agent or Lender
shall so request. The Administrative Agent and each Lender shall conduct any such inspection or
examination (i) in reasonable accordance with the Borrower’s or the applicable Subsidiary’s safety
policies and procedures and (ii) so as not to unreasonably materially interfere with the Borrower’s
or its Subsidiaries’ operations.

     6.11 Use of Proceeds. Use the proceeds of the Credit Extensions for working capital and
general corporate purposes, including, without limitation, the making of the Closing Date
Distribution, in each case, not in contravention of any Law or of any Loan Document.

     6.12 Covenant to Guarantee Obligations and Give Security. (a) Upon the formation or
acquisition of any new direct or indirect Subsidiary (other than any CFC or a Subsidiary that is
held directly or indirectly by a CFC) by the Borrower or any Subsidiary, then the Borrower shall,
at the Borrower’s expense:

     (i) within 30 days (or such longer period as the Administrative Agent may determine
in its sole discretion) after such formation or acquisition, cause such Subsidiary, and
cause each direct and indirect parent of such Subsidiary (if it has not already done so), to
duly execute and deliver to the Administrative Agent a guaranty or guaranty supplement, in
form and substance reasonably satisfactory to the Administrative Agent, guaranteeing the
other Loan Parties’ obligations under the Loan Documents,

     (ii) within 30 days (or such longer period as the Administrative Agent may
determine in its sole discretion) after such formation or acquisition, furnish to the
Administrative Agent a description of the Material Real Properties and personal properties
of such Subsidiary, in detail reasonably satisfactory to the Administrative Agent,

     (iii) within 30 days (or such longer period as the Administrative Agent may
determine in its sole discretion) after such formation or acquisition, cause such Subsidiary
and each direct and indirect parent of such Subsidiary (if it has not already

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done so) to duly execute and deliver to the Administrative Agent deeds of trust, trust
deeds, deeds to secure debt, mortgages, leasehold mortgages and leasehold deeds of trust
with respect to any Material Real Property owned or leased by such Subsidiary, Security
Agreement Supplements, IP Security Agreement Supplements and other security and pledge
agreements, as specified by and in form and substance reasonably satisfactory to the
Administrative Agent (including delivery of all Pledged Equity in and of such Subsidiary,
and other instruments of the type specified in Section 4.01(a)(iii)), securing
payment of all the Obligations of such Subsidiary or such parent, as the case may be, under
the Loan Documents and constituting Liens on all such personal properties and Material Real
Properties,

     (iv) within 30 days (or such longer period as the Administrative Agent may
determine in its sole discretion) after such formation or acquisition, cause such Subsidiary
and each direct and indirect parent of such Subsidiary (if it has not already done so) to
take whatever action (including the recording of mortgages with respect to any Material Real
Property and the filing of Uniform Commercial Code financing statements) may be necessary or
advisable in the reasonable opinion of the Administrative Agent to vest in the
Administrative Agent (or in any representative of the Administrative Agent designated by it)
valid and subsisting Liens on the properties purported to be subject to the deeds of trust,
trust deeds, deeds to secure debt, mortgages, leasehold mortgages and leasehold deeds of
trust with respect to any Material Real Property, Security Agreement Supplements, IP
Security Agreement Supplements and security and pledge agreements delivered pursuant to this
Section 6.12, enforceable against all third parties in accordance with their terms,

     (v) within 60 days (or such longer period as the Administrative Agent may determine
in its sole discretion) after such formation or acquisition, deliver to the Administrative
Agent, upon the request of the Administrative Agent in its sole but reasonable discretion, a
signed copy of a favorable opinion, addressed to the Administrative Agent and the other
Secured Parties, of counsel for the Loan Parties reasonably acceptable to the Administrative
Agent as to the matters contained in clauses (i), (iii) and (iv) above, and as to such other
matters as the Administrative Agent may reasonably request, and

     (vi) as promptly as practicable after such formation or acquisition of a Subsidiary
that owns or leases Material Real Property, deliver, upon the reasonable request of the
Administrative Agent in its sole but reasonable discretion, to the Administrative Agent with
respect to any Material Real Property owned or leased by such Subsidiary (A) with respect to
any Terminals or other Material Real Property (other than any Pipeline System and any real
property used solely in connection with any Pipeline System), documentation of the type set
forth in Section 4.01(a)(iv)(B), and (B) the existing and most current title
reports, surveys and engineering, soils and other reports, and environmental assessment
reports obtained by the Borrower or any Subsidiary in connection with the formation or
acquisition of that Subsidiary.

     (b) Upon the acquisition of any personal property (other than a CFC or a Subsidiary that
is held directly or indirectly by a CFC) or Material Real Property by the Borrower or any

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Subsidiary, if such property, in the reasonable judgment of the Administrative Agent, shall
not already be subject to a perfected first priority security interest in favor of the
Administrative Agent for the benefit of the Secured Parties, then the Borrower shall, at the
Borrower’s expense:

     (i) within 30 days (or such longer period as the Administrative Agent may determine
in its sole discretion) after such acquisition, furnish to the Administrative Agent a
description of the property so acquired in detail reasonably satisfactory to the
Administrative Agent,

     (ii) within 30 days (or such longer period as the Administrative Agent may
determine in its sole discretion) after such acquisition, cause the applicable Loan Party to
duly execute and deliver to the Administrative Agent deeds of trust, trust deeds, deeds to
secure debt, mortgages, leasehold mortgages and leasehold deeds of trust with respect to any
such property that constitutes Material Real Property, Security Agreement Supplements, IP
Security Agreement Supplements and other security and pledge agreements, as specified by and
in form and substance reasonably satisfactory to the Administrative Agent, securing payment
of all the Obligations of the applicable Loan Party under the Loan Documents and
constituting Liens on all such personal properties and Material Real Properties,

     (iii) within 30 days (or such longer period as the Administrative Agent may
determine in its sole discretion) after such acquisition, cause the applicable Loan Party to
take whatever action (including the recording of mortgages, the filing of Uniform Commercial
Code financing statements, the giving of notices and the endorsement of notices on title
documents) may be necessary or advisable in the reasonable opinion of the Administrative
Agent to vest in the Administrative Agent (or in any representative of the Administrative
Agent designated by it) valid and subsisting Liens on such personal property and Material
Real Property, enforceable against all third parties,

     (iv) within 60 days (or such longer period as the Administrative Agent may
determine in its sole discretion) after such acquisition, deliver to the Administrative
Agent, upon the reasonable request of the Administrative Agent in its sole but reasonable
discretion, a signed copy of a favorable opinion, addressed to the Administrative Agent and
the other Secured Parties, of counsel for the Loan Parties reasonably acceptable to the
Administrative Agent as to the matters contained in clauses (ii) and (iii) above and as to
such other matters as the Administrative Agent may reasonably request, and

     (v) as promptly as practicable after such acquisition of Material Real Property,
deliver, upon the reasonable request of the Administrative Agent in its sole but reasonable
discretion, to the Administrative Agent with respect to such Material Real Property (A) with
respect to any Terminals or other Material Real Property (other than any Pipeline System and
any real property used solely in connection with any Pipeline System), documentation of the
type set forth in Section 4.01(a)(iv)(B), and (B) the existing and most current
title reports, surveys and engineering, soils and other reports, and environmental
assessment reports obtained by the Borrower or any Subsidiary in connection with the
acquisition of that Material Real Property.

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     (c) Upon the formation or acquisition by the Borrower or any Subsidiary after the Closing
Date of any Subsidiary that is a CFC, the Borrower shall notify the Administrative Agent thereof
within 30 days after such acquisition or formation and promptly (A) execute and deliver to the
Administrative Agent such Security Agreement Supplements or such other documents as the
Administrative Agent deems necessary or reasonably desirable and requests in order to grant to the
Administrative Agent a perfected first priority security interest (subject only to applicable
Permitted Liens) in the Equity Interests of such CFC Subsidiary that is owned by the applicable
Loan Party (provided that in no event shall more than 66% of the total voting power of the total
outstanding Equity Interests of any such CFC Subsidiary be required to be so pledged), and (B)
deliver to the Administrative Agent the certificates (if any) representing such Equity Interests,
together with undated stock powers or share transfer forms, in blank, executed and delivered by a
duly authorized officer of the applicable Loan Party, and take such other action as may be
necessary or reasonably requested by the Administrative Agent to perfect the Lien of the
Administrative Agent thereon, (C) take such other actions as necessary under applicable law
(including foreign law) or reasonably requested by the Administrative Agent to ensure the granting,
perfection, and priority of such security interest, and (D) for any CFC Subsidiary that, together
with its Subsidiaries, generates more than $2,000,000 in consolidated net income (measured as of
the quarter most recently ended on an annualized basis) or that holds consolidated assets with an
aggregate fair market value greater than $2,000,000 upon such formation or acquisition by the
Borrower or any Subsidiary, deliver to the Administrative Agent legal opinions relating to the
matters described above, which opinions shall be in form and substance, and from counsel,
reasonably satisfactory to the Administrative Agent, in each case within a reasonable time
following the applicable requests of the Administrative Agent and the receipt of any applicable
documents.

     6.13 Compliance with Environmental Laws.

     (a) Comply, and cause all lessees and other Persons operating or occupying its properties
to comply, in all material respects, with all applicable Environmental Laws and Environmental
Permits, and obtain and renew all Environmental Permits necessary for its operations and
properties.

     (b) To the extent required by Governmental Authority, conduct any investigation, study,
sampling and testing, and undertake any cleanup, removal, remedial or other action necessary to
remove and clean up Hazardous Materials from any of its properties, in material compliance with the
requirements of such Governmental Authority; provided, however, that neither the
Borrower nor any of its Subsidiaries shall be required to undertake any such cleanup, removal,
remedial or other action to the extent that its obligation to do so is being contested in good
faith and by proper proceedings and appropriate reserves are being maintained with respect to such
circumstances in accordance with GAAP.

     6.14 Further Assurances.

     (a) Promptly upon request by the Administrative Agent or the Required Lenders through the
Administrative Agent, (a) correct any material defect or error that may be discovered in any Loan
Document or in the execution, acknowledgment, filing or recordation thereof, and (b) do, execute,
acknowledge, deliver, record, re-record, file, re-file, register and re-register any

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and all such further acts, deeds, certificates, assurances and other instruments as the
Administrative Agent, or any Lender through the Administrative Agent, may reasonably require from
time to time in order to (i) carry out more effectively the purposes of the Loan Documents, (ii) to
the fullest extent permitted by applicable law, subject any Loan Party’s or any of its
Subsidiaries’ properties, assets, rights or interests to the Liens now or hereafter intended to be
covered by any of the Collateral Documents, (iii) perfect and maintain the validity, effectiveness
and priority of any of the Collateral Documents and any of the Liens intended to be created
thereunder and (iv) assure, convey, grant, assign, transfer, preserve, protect and confirm more
effectively unto the Secured Parties the rights granted or now or hereafter intended to be granted
to the Secured Parties under any Loan Document or under any other instrument executed in connection
with any Loan Document to which any Loan Party or any of its Subsidiaries is or is to be a party,
and cause each of its Subsidiaries to do so.

     (b) Within 30 days after a request by the Administrative Agent or the Required Lenders to
cure any title defects or exceptions which are not Liens permitted by Section 7.01 and
which, individually or in the aggregate, (i) materially interfere with the ordinary conduct of
Business, (ii) materially detract from the value or the use of the portion of the Pipeline Systems
affected thereby, or (iii) could reasonably have a Material Adverse Effect, cure such title defects
or exceptions or substitute such Collateral with acceptable property of an equivalent value with no
title defects or exceptions and deliver to the Administrative Agent satisfactory title evidence in
form and substance acceptable to the Administrative Agent in its reasonable business judgment as to
the Borrower’s and its Subsidiaries’ title in such property and the Administrative Agent’s Liens
and security interests therein.

     6.15 Compliance with Terms of Leaseholds. Make all payments and otherwise perform all
obligations in respect of all leases of real property to which the Borrower or any of its
Subsidiaries is a party, keep such leases in full force and effect and not allow such leases to
lapse or be terminated or any rights to renew such leases to be forfeited or cancelled, notify the
Administrative Agent of any default by any party with respect to such leases and cooperate with the
Administrative Agent in all respects to cure any such default, and cause each of its Subsidiaries
to do so, except, in any case, where the failure to do so, either individually or in the aggregate,
could not be reasonably expected to have a Material Adverse Effect.

     6.16 Material Contracts. Perform and observe all the terms and provisions of each
Material Contract to be performed or observed by it, maintain each such Material Contract in full
force and effect, enforce each such Material Contract in accordance with its terms, take all action
to such end as may be from time to time requested by the Administrative Agent and, upon the request
of the Administrative Agent, make to each other party to each such Material Contract such demands
and requests for information and reports or for action as any Loan Party or any of its Subsidiaries
is entitled to make under such Material Contract, and cause each of its Subsidiaries to do so,
except, in any case, where the failure to do so, either individually or in the aggregate, could not
be reasonably likely to have a Material Adverse Effect.

     6.17 Utah FERC Jurisdictional Requirement. In the event that the FERC orders or imposes
any Utah FERC Jurisdictional Requirement against the Borrower or any Subsidiary, the Borrower or
such Subsidiary shall promptly comply in all respects with all terms of such Utah FERC
Jurisdictional Requirement within the time period required thereby.

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     6.18 Post Closing Agreement. The Borrower and, to the extent applicable, each of the
other Loan Parties party thereto shall deliver to the Administrative Agent on or before the
applicable date set forth in the Post Closing Agreement all items required by such Post Closing
Agreement.

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 (other than
those as to which arrangements satisfactory to the Administrative Agent and the applicable L/C
Issuer shall have been made in accordance with Section 9.10), the Borrower shall not, nor
shall the Borrower permit any of its Subsidiaries to, directly or indirectly:

     7.01 Liens. Create, incur, assume or suffer to exist any Lien upon any of its property,
assets or revenues, whether now owned or hereafter acquired, or assign any accounts or other right
to receive income, other than the following:

     (a) Liens pursuant to any Loan Document;

     (b) Liens existing on the date hereof and listed on Schedule 7.01 and any renewals
or extensions thereof, provided that (i) the property covered thereby is not changed, (ii)
the amount secured or benefited thereby is not increased except as contemplated by Section
7.02(d), (iii) the direct or any contingent obligor with respect thereto is not changed, and
(iv) any renewal or extension of the obligations secured or benefited thereby is permitted by
Section 7.02(d);

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

     (d) carriers’, warehousemen’s, mechanics’, materialmen’s, repairmen’s or other like Liens
arising in the ordinary course of business which are not overdue for a period of more than 60 days
or which are being contested in good faith and by appropriate proceedings diligently conducted, if
adequate reserves with respect thereto are maintained on the books of the applicable Person;

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

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

     (g) Liens comprised of minor defects, irregularities, and deficiencies in title to, and
easements, rights-of-way, zoning restrictions and other similar restrictions, charges or
encumbrances, defects and irregularities in the physical placement and location of pipelines within
the areas covered by the easements, leases, licenses and other rights in real property in

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favor of the Borrower or any of its Subsidiaries which, individually and in the aggregate, do
not materially interfere with the ordinary conduct of the Business and do not materially detract
from the use of the property which they affect, and Permitted Encumbrances;

     (h) Liens securing judgments for the payment of money not constituting an Event of Default
under Section 8.01(h);

     (i) Liens securing Indebtedness permitted under Section 7.02(f); provided
that (i) such Liens do not at any time encumber any property other than the property financed by
such Indebtedness and (ii) the Indebtedness secured thereby does not exceed the cost or fair market
value, whichever is lower, of the property being acquired on the date of acquisition;

     (j) Liens on property of a Person existing at the time such Person is merged into or
consolidated with the Borrower or any Subsidiary of the Borrower or becomes a Subsidiary of the
Borrower; provided that such Liens were not created in contemplation of such merger,
consolidation or Investment and do not extend to any assets other than those of the Person merged
into or consolidated with the Borrower or such Subsidiary or acquired by the Borrower or such
Subsidiary, and the applicable Indebtedness secured by such Lien is permitted under Section
7.02(g);

     (k) 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, or under general depositary
agreements, and burdening only deposit accounts or other funds maintained with a creditor
depository institution;

     (l) any interest or title of a lessor under any lease entered into by the Borrower or any
Subsidiary in the ordinary course of its business covering only the assets so leased; and

     (m) other Liens securing Indebtedness outstanding in an aggregate principal amount not to
exceed $10,000,000, provided that no such Lien shall extend to or cover any Collateral.

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

     (a) obligations (contingent or otherwise) 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
fluctuations in interest rates, foreign exchange rates or commodity prices 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;

     (b) Indebtedness of the Borrower owed to a Subsidiary, or of a Subsidiary of the Borrower
owed to the Borrower or a wholly-owned Subsidiary of the Borrower, which Indebtedness shall (i) in
the case of Indebtedness owed to a Loan Party, be pledged under the Security Agreement, (ii) be on
subordination terms reasonably acceptable to the Administrative Agent and (iii) be otherwise
permitted under the provisions of Section 7.03;

     (c) Indebtedness under the Loan Documents;

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     (d) Indebtedness outstanding on the date hereof and listed on Schedule 7.02 and
any refinancings, refundings, renewals or extensions thereof; provided that the amount of
such Indebtedness is not increased at the time of such refinancing, refunding, renewal or extension
except by an amount equal to a reasonable premium or other reasonable amount paid, and fees and
expenses reasonably incurred, in connection with such refinancing and by an amount equal to any
existing commitments unutilized thereunder and the direct or any contingent obligor with respect
thereto is not changed, as a result of or in connection with such refinancing, refunding, renewal
or extension; and provided, still further, that the terms relating to
principal amount, amortization, maturity, collateral (if any) and subordination (if any), and other
material terms taken as a whole, of any such refinancing, refunding, renewing or extending
Indebtedness, and of any agreement entered into and of any instrument issued in connection
therewith, are no less favorable in any material respect to the Loan Parties or the Lenders than
the terms of any agreement or instrument governing the Indebtedness being refinanced, refunded,
renewed or extended and the interest rate applicable to any such refinancing, refunding, renewing
or extending Indebtedness does not exceed the then applicable market interest rate;

     (e) Guarantees of the Borrower or any Subsidiary in respect of Indebtedness otherwise
permitted hereunder of the Borrower or any Subsidiary Guarantor or the Indebtedness incurred by
joint ventures constituting Investments otherwise permitted hereunder; provided that with
respect to Guarantees of Indebtedness of joint ventures, the aggregate amount of Indebtedness
guaranteed pursuant to such Guarantees shall not exceed $25,000,000;

     (f) Indebtedness in respect of Capitalized Leases, Synthetic Lease Obligations and
purchase money obligations for fixed or capital assets within the limitations set forth in
Section 7.01(i); provided, however, that the aggregate amount of all such Indebtedness at
any one time outstanding shall not exceed $30,000,000;

     (g) Indebtedness of any Person that becomes a Subsidiary of the Borrower after the date
hereof in accordance with the terms of Section 7.03(g), which Indebtedness is existing at
the time such Person becomes a Subsidiary of the Borrower (other than Indebtedness incurred solely
in contemplation of such Person’s becoming a Subsidiary of the Borrower);

     (h) unsecured Indebtedness issued by the Borrower or any of its Subsidiaries;
provided that (i) immediately prior to and after giving effect to the issuance of such
Indebtedness, there would be no Default under this Agreement, (ii) such Indebtedness’ scheduled
maturity is no earlier than twelve (12) months after the Maturity Date, (iii) such Indebtedness
does not require any scheduled repayments, defeasance or redemption (or sinking fund therefor) of
any principal amount thereof prior to maturity, and (iv) the indenture or other agreement governing
such Indebtedness shall not contain (A) maintenance financial covenants or (B) other terms and
conditions that are materially more restrictive on the Borrower or any of its Subsidiaries than
then available market terms and conditions for comparable issuers and issuances, and any
refinancings, refundings, renewals or extensions thereof; provided that the terms of such
refinancing, refunding, renewing, or extending Indebtedness satisfy the requirements of Section
7.02(h);

     (i) Indebtedness in respect of insurance premium financing for insurance being acquired by
the Borrower or any Subsidiary under customary terms and conditions; and

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     (j) other unsecured Indebtedness not otherwise permitted under this Section 7.02,
in an aggregate principal amount not to exceed $10,000,000 at any time outstanding.

     7.03 Investments. Make or hold any Investments, except:

     (a) Investments held by the Borrower and its Subsidiaries in the form of Cash Equivalents;

     (b) advances to officers, directors and employees of the Borrower and Subsidiaries in an
aggregate amount not to exceed $1,000,000 at any time outstanding, for travel, entertainment,
relocation and analogous ordinary business purposes;

     (c) (i) Investments by the Borrower and its Subsidiaries in their respective Subsidiaries
outstanding on the date hereof, (ii) additional Investments by the Borrower and its Subsidiaries in
Loan Parties, and (iii) additional Investments by Subsidiaries that are not Loan Parties in other
Subsidiaries that are not Loan Parties;

     (d) Investments consisting of extensions of credit in the nature of accounts receivable or
notes receivable arising from the grant of trade credit in the ordinary course of business, and
Investments received in satisfaction or partial satisfaction thereof from financially troubled
account debtors;

     (e) Guarantees permitted by Section 7.02;

     (f) Investments existing on the date hereof (other than those referred to in Section
7.03(c)(i)) and set forth on Schedule 7.03;

     (g) Acquisitions (by purchase or merger) provided that (i) the Borrower or a
Subsidiary Guarantor is the acquiring or surviving entity; (ii) no Default or Event of Default
exists and the Acquisition could not reasonably be expected to cause a Default or Event of Default;
(iii) after giving effect to such Acquisition on a pro forma basis, the Borrower and its
Subsidiaries would have been in compliance with all of the covenants contained in this Agreement,
including, without limitation, Sections 7.11(a) and 7.11(b) as of the end of the
most recent fiscal quarter; (iv) the requirements of Sections 6.12 and 7.07 are
satisfied and the target is not hostile; (v) if such Acquisition is of Equity Interests, the issuer
of such Equity Interests shall be an entity organized under the laws of the United States; and (vi)
the Administrative Agent shall have received, at least five (5) Business Days prior to the date on
which any such Acquisition is to be consummated, a certificate of a Responsible Officer of the
Borrower, in form and substance reasonably satisfactory to the Administrative Agent and the
Required Lenders, certifying that all of the requirements set forth in this Section 7.03(g)
have been satisfied or will be satisfied on or prior to the date on which such Acquisition is
consummated;

     (h) Investments consisting of debt securities as partial consideration for the Disposition
of assets to the extent permitted by Section 7.05(f);

     (i) Investments by the Borrower and its Subsidiaries in joint ventures not exceeding
$25,000,000 in the aggregate; provided that any Equity Interests in any such joint venture
shall be pledged to the Administrative Agent for the ratable benefit of the Secured Parties under
the

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Security Agreement and the Administrative Agent shall have received such other items in
connection therewith as may be required by Section 6.12(b); and

     (j) so long as no Default has occurred and is continuing or would result from such
Investment, other Investments not exceeding $20,000,000 in the aggregate in any fiscal year of the
Borrower.

     7.04 Fundamental Changes. Merge, dissolve, liquidate, consolidate with or into another
Person, or Dispose of (whether in one transaction or in a series of transactions) all or
substantially all of its assets (whether now owned or hereafter acquired) to or in favor of any
Person, except that, so long as no Event of Default exists or would result therefrom:

     (a) any of the Borrower’s Subsidiaries may merge with any of its other Subsidiaries
provided that if any of such Subsidiaries is a Subsidiary Guarantor, a Subsidiary Guarantor shall
be the surviving Person;

     (b) any Subsidiary Guarantor may Dispose of all or substantially all of its assets (upon
voluntary liquidation or otherwise) to the Borrower or to another Subsidiary Guarantor;

     (c) any Subsidiary that is not a Loan Party may dispose of all or substantially all its
assets (including any Disposition that is in the nature of a liquidation) to (i) another Subsidiary
that is not a Loan Party or (ii) to the Borrower or any Subsidiary that is a Loan Party; and

     (d) the Borrower or any Subsidiary Guarantor may merge or consolidate with any Person in
accordance with Section 7.03(g).

     7.05 Dispositions. Make any Disposition or enter into any agreement to make any
Disposition, except:

     (a) Dispositions of obsolete or worn out property, whether now owned or hereafter
acquired, in the ordinary course of business;

     (b) ordinary-course-of-business Dispositions of (i) inventory; (ii) Cash Equivalents;
(iii) overdue accounts receivable in connection with the compromise or collection thereof (and not
in connection with any financing transaction); and (iv) leases, subleases, rights of way,
easements, licenses, and sublicenses that, individually and in the aggregate, do not materially
interfere with the ordinary conduct of the business of the Borrower or its Subsidiaries and do not
materially detract from the value or the use of the property which they affect;

     (c) Dispositions of equipment to the extent that (i) such property is exchanged for credit
against the purchase price of similar replacement property or (ii) the proceeds of such Disposition
are reasonably promptly applied to the purchase price of such replacement property;

     (d) Dispositions of property by any Subsidiary to the Borrower or to a wholly-owned
Subsidiary; provided that if the transferor of such property is a Subsidiary Guarantor, the
transferee thereof must either be the Borrower or a Subsidiary Guarantor;

     (e) Dispositions permitted by Section 7.04;

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     (f) Dispositions by the Borrower and its Subsidiaries not otherwise permitted under this
Section 7.05, subject to the following conditions:

     (i) that no Default exists at the time of such Disposition or would result from
such Disposition;

     (ii) that the aggregate book value of all property Disposed of in reliance on this
clause (f) in any fiscal year shall not exceed $20,000,000; and

     (iii) that at least 75% of the purchase price for such asset shall be paid to the
Borrower or such Subsidiary in cash;

     (g) Dispositions of property (i) resulting from the condemnation thereof or (ii) that has
suffered a casualty (constituting a total loss or constructive total loss of such property), in
each case upon or after receipt of the condemnation proceeds or insurance proceeds of such
condemnation or casualty, as applicable, provided that the cash proceeds therefrom are applied in
accordance with Section 2.04(b)(ii); and

     (h) so long as no Default has occurred and is continuing, the grant of any option or other
right to purchase any asset in a transaction that would be permitted under the provisions of
Section 7.05(f),

provided,
however, that any Disposition pursuant to
Section 7.05(a), (b), (c), (f), and (g) shall be for fair market value.

     7.06 Restricted Payments. Declare or make, directly or indirectly, any Restricted
Payment, or incur any obligation (contingent or otherwise) to do so, except that:

     (a) each Subsidiary may make Restricted Payments to the Borrower, any Subsidiaries that
are Subsidiary Guarantors and any other Person that owns a direct 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 common or subordinated Equity Interests of such Person and the
Borrower may issue common Equity Interests upon the conversion of subordinated Equity Interests;

     (c) the Borrower and each Subsidiary may purchase, redeem or otherwise acquire its Equity
Interests with the proceeds received from the substantially concurrent issue of new common or
subordinated Equity Interests;

     (d) the Borrower may make the Closing Date Distribution; and

     (e) so long as no Default has occurred and is continuing or would result therefrom, the
Borrower may make Restricted Payments with respect to any fiscal quarter in an aggregate amount not
to exceed Available Cash with respect to such fiscal quarter, so long as (i) the

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Borrower and its Subsidiaries shall be in compliance (after giving pro forma effect to the
making of such Restricted Payment) with all of the covenants contained in this Agreement,
including, without limitation, Sections 7.11(a) and 7.11(b) and (ii) the Borrower
shall not use more than $20,000,000 from the proceeds of Revolving Credit Borrowings during any
fiscal quarter to make Distribution Payments.

     7.07 Change in Nature of Business. Engage in any material line of business substantially
different from those lines of business conducted by the Borrower and its Subsidiaries on the date
hereof or any business substantially related or incidental thereto.

     7.08 Transactions with Affiliates. Enter into any transaction of any kind with any
Affiliate of the Borrower, whether or not in the ordinary course of business, other than on fair
and reasonable terms substantially as favorable to the Borrower or such Subsidiary as would be
obtainable by the Borrower or such Subsidiary at the time in a comparable arm’s length transaction
with a Person other than an Affiliate; provided that the foregoing restriction shall not
apply to (i) transactions between or among the Loan Parties and (ii) transactions pursuant to the
Material Contracts as in effect on the date of this Agreement or, if applicable, to the extent
modified as permitted under this Agreement.

     7.09 Burdensome Agreements. Enter into or permit to exist any Contractual Obligation
(other than this Agreement or any other Loan Document) that (a) limits the ability (i) of any
Subsidiary to make Restricted Payments to the Borrower or any Subsidiary Guarantor or to otherwise
transfer property to or invest in the Borrower or any Subsidiary Guarantor, except for any
agreement in effect (A) on the date hereof and set forth on Schedule 7.09 or (B) at the
time any Subsidiary becomes a Subsidiary of the Borrower, so long as such agreement was not entered
into solely in contemplation of such Person becoming a Subsidiary of the Borrower, (ii) of any
Subsidiary to Guarantee the Obligations of the Borrower or (iii) of the Borrower or any Subsidiary
to create, incur, assume or suffer to exist Liens on property of such Person to secure the
Obligations; provided, however, that this clause (iii) shall not prohibit (A) any
negative pledge incurred or provided in favor of any holder of Indebtedness permitted under
Sections 7.02(f) or (g) solely to the extent any such negative pledge relates to the
property financed by or the subject of such Indebtedness or (B) customary non-assignment provisions
in purchase and sale or exchange agreements or similar operational
agreements, or provisions in licenses,
easements or leases, in each case entered into in the ordinary course of business and consistent
with past practices, which restrict the
transfer, assignment or encumbrance thereof; or
(b) requires the grant of a Lien to secure an obligation of such Person if a Lien is granted to
secure the Obligations.

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

     7.11 Financial Covenants. (a) Consolidated Interest Coverage Ratio. Permit the
Consolidated Interest Coverage Ratio as of the end of any fiscal quarter of the Borrower to be less
than 3.00 to 1.00.

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     (b) Consolidated Leverage Ratio. Permit the Consolidated Leverage Ratio at any
time during any period of four fiscal quarters of the Borrower to be greater than (i) during a
Specified Acquisition Period, 4.50 to 1.00, and (ii) at all other times, 4.00 to 1.00.

     7.12 [Intentionally Omitted].

     7.13 Amendments of Organization Documents. Amend any of its Organization Documents,
unless such amendments, modifications, or supplements could not reasonably be expected (i) to be
materially adverse to the rights of the Administrative Agent or the Lenders or (ii) to materially
decrease the economic benefit or other rights that any Loan Party would have otherwise received
pursuant to such agreements.

     7.14 Accounting Changes. Make any change in (a) accounting policies or reporting
practices, except to the extent consistent with GAAP, or (b) the fiscal year-end of any Loan Party.

     7.15 Prepayments, Etc. of Indebtedness. Prepay, redeem, purchase, defease or otherwise
satisfy prior to the scheduled maturity thereof in any manner, or make any payment in violation of
any subordination terms of, any Indebtedness incurred pursuant to Section 7.02(h), except
for refinancings, refundings, extensions or renewals of such Indebtedness to the extent such
refinancing, refunding, extension or renewal is permitted by Section 7.02(h).

     7.16 Amendment, Etc. of Material Contracts. Amend, modify, or supplement any of the
Material Contracts unless such amendments, modifications, or supplements, individually or in the
aggregate, could not reasonably be expected (i) to be materially adverse to the rights of the
Administrative Agent or the Lenders or (ii) to materially decrease the economic benefit or other
rights that any Loan Party would have otherwise received pursuant to such agreements.

     7.17 Limitation on Speculative Hedging. (a) Enter into any Swap Contract for speculative
purposes, or (b) be party to or otherwise enter into any Swap Contract which is entered into for
reasons other than as a part of its normal business operations as a risk management strategy and/or
hedge against changes resulting from market conditions related to the Borrower’s or its
Subsidiaries’ operations.

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. The Borrower or any other Loan Party fails to (i) pay when and
as required to be paid herein, any amount of principal of any Loan or any L/C Obligation or deposit
any funds as Cash Collateral in respect of L/C Obligations, or (ii) pay within three days after the
same becomes due, any interest on any Loan or on any L/C Obligation, or any fee due hereunder, or
(iii) pay within five days after the same becomes due, any other amount payable hereunder or under
any other Loan Document; or

     (b) Specific Covenants. The Borrower or any Loan Party (i) fails to perform or
observe any term, covenant or agreement contained in any of
Sections 6.01, 6.02, and
6.10 and

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such failure continues for 5 days after the earlier to occur of (A) receipt of written notice
thereof from Administrative Agent or Required Lenders to the Borrower, or (B) a Responsible Officer
otherwise has actual knowledge of any such failure; or (ii) fails to perform or observe any term,
covenant or agreement contained in any of Sections 6.03, 6.05 (only with respect to
the Loan Parties), 6.07, 6.11, 6.12, 6.16, 6.18 or
Article VII; or

     (c) Other Defaults. Any Loan Party fails to perform or observe any other covenant
or agreement (not specified in Sections 8.01(a) or (b) above) contained in any Loan
Document on its part to be performed or observed and such failure continues for 30 days after the
earlier to occur of (i) receipt of written notice thereof from Administrative Agent or Required
Lenders to the Borrower, or (ii) a Responsible Officer otherwise has actual knowledge of any such
failure; or

     (d) Representations and Warranties. (i) Any representation, warranty,
certification or statement of fact made or deemed made by or on behalf of the Borrower or any other
Loan Party herein, in any other Loan Document, or in any document delivered in connection herewith
or therewith that does not have a materiality or Material Adverse Effect qualification shall be
incorrect or misleading in any material respect when made or deemed made or (ii) any
representation, warranty, certification or statement of fact made or deemed made by or on behalf of
the Borrower or any other Loan Party herein, in any other Loan Document, or in any document
delivered in connection herewith or therewith that has a materiality or Material Adverse Effect
qualification shall be incorrect or misleading in any respect when made or deemed made; or

     (e) Cross-Default. (i) Any Loan Party or any Subsidiary thereof (A) fails to make
any payment when due (whether by scheduled maturity, required prepayment, acceleration, demand, or
otherwise, but after giving effect to any applicable grace or cure periods) 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 the Threshold Amount, 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 a Loan Party or any Subsidiary thereof 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 a Loan
Party or any Subsidiary thereof is an Affected Party (as so defined) and, in either event, the Swap
Termination Value owed by such Loan Party or such Subsidiary as a result thereof is greater than
the Threshold Amount; or

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     (f) Insolvency Proceedings, Etc. Any Loan Party or any Subsidiary thereof
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) Any Loan Party or any Subsidiary
thereof becomes unable or admits in writing its inability or fails generally to pay its debts as
they become due, or (ii) any writ or warrant of attachment or execution or similar process is
issued or levied against all or any material part of the property of any such Person and is not
released, vacated or fully bonded within 30 days after its issue or levy; or

     (h) Judgments. There is entered against any Loan Party or any Subsidiary thereof
(i) one or more final judgments or orders for the payment of money in an aggregate amount (as to
all such judgments and orders) exceeding the Threshold Amount (to the extent not covered by
independent third-party insurance as to which the insurer is rated at least “A” by A.M.
Best Company, has been notified of the potential claim and does not dispute coverage), or (ii) any
one or more non-monetary final judgments that have, or could reasonably be expected to have,
individually or in the aggregate, a Material Adverse Effect and, in either case, (A) enforcement
proceedings are commenced by any creditor upon such judgment or order, or (B) there is a period of
10 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 the
Borrower under Title IV of ERISA to the Pension Plan, Multiemployer Plan or the PBGC in an
aggregate amount in excess of the Threshold Amount, or (ii) the Borrower 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 the Threshold Amount; or

     (j) Invalidity of Loan Documents. Any provision of 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
provision of any Loan Document; or any Loan Party denies that it has any or further liability or
obligation under any provision of any Loan Document, or purports to revoke, terminate or rescind
any provision of any Loan Document; or

     (k) Change of Control. There occurs any Change of Control; or

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     (l) Collateral Documents. Any Collateral Document after delivery thereof pursuant
to Sections 4.01 or 6.12 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 7.01) on the Collateral purported to be covered thereby; or

     (m) Material Contracts. (i) Any default or event of default shall have occurred
under any of the Material Contracts which has not been cured within any applicable grace period and
which default or event of default could, individually or in the aggregate with any other defaults
or events of default under the Material Contracts, reasonably be expected to have a Material
Adverse Effect, or (ii) any of the Material Contracts shall have terminated, which termination,
individually or in the aggregate with any other terminations of Material Contracts, could
reasonably be expected to have a Material Adverse Effect.

     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
Issuers to make L/C Credit Extensions to be terminated, whereupon such commitments and obligation
shall be terminated;

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

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

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

provided, however, that upon the occurrence of an actual or deemed entry of an
order for relief with respect to the Borrower under the Bankruptcy Code of the United States, the
obligation of each Lender to make Loans and any obligation of the L/C Issuers to make L/C Credit
Extensions shall automatically terminate, the unpaid principal amount of all outstanding Loans and
all interest and other amounts as aforesaid shall automatically become due and payable, and the
obligation of the Borrower to Cash Collateralize the L/C Obligations as aforesaid shall
automatically become effective, in each case without further act of the Administrative Agent or any
Lender.

     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 shall, subject to the
provisions of Sections 2.14 and 2.15, be applied by the Administrative Agent in the
following order:

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     First, to payment of that portion of the Obligations constituting fees, indemnities,
expenses and other amounts (including fees, charges and disbursements of counsel to the
Administrative Agent and amounts payable under Article III) payable to the Administrative
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 fees, charges and disbursements of counsel to the respective Lenders
and the L/C Issuers (including fees and time charges for attorneys who may be employees of any
Lender or any L/C Issuer) arising under the Loan Documents 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, L/C Borrowings and Obligations then owing under Secured Hedge Agreements and Secured
Cash Management Agreements, ratably among the Lenders, the L/C Issuers, the Hedge Banks and the
Cash Management Banks 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
2.03 and 2.14, ratably among the L/C Issuers in proportion to the respective amounts
described in this clause Fifth held by them; 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 2.03(c) and 2.14, 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 the Credit
Agreement that has given the notice contemplated by the preceding sentence shall, by such notice,
be deemed to have acknowledged and accepted the

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appointment of the Administrative Agent pursuant to the terms of Article IX hereof for
itself and its Affiliates as if a “Lender” party hereto.

ARTICLE IX

ADMINISTRATIVE AGENT

     9.01 Appointment and Authority. (a) Each of the Lenders and the L/C Issuers 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 are solely for the benefit of the Administrative Agent, the Lenders and
the L/C Issuers, and the Borrower shall not have rights as a third party beneficiary of any of such
provisions.

     (b) The Administrative Agent shall also act as the “collateral agent” under the
Loan Documents, and each of the Lenders (including in its capacities as a potential Hedge Bank and
a potential Cash Management Bank) and the L/C Issuers hereby irrevocably appoints and authorizes
the Administrative Agent to act as the agent of such Lender and such L/C Issuer for purposes of
acquiring, holding and enforcing any and all Liens on Collateral granted by any of the Loan Parties
to secure any of the Obligations, together with such powers and discretion as are reasonably
incidental thereto. In this connection, the Administrative Agent, as “collateral agent”
and any co-agents, sub-agents and attorneys-in-fact appointed by the Administrative Agent pursuant
to Section 9.05 for purposes of holding or enforcing any Lien on the Collateral (or any
portion thereof) granted under the Collateral Documents, or for exercising any rights and remedies
thereunder at the direction of the Administrative Agent), shall be entitled to the benefits of all
provisions of this Article IX and Article X (including Section 10.04(c), as
though such co-agents, sub-agents and attorneys-in-fact were the “collateral agent” under
the Loan Documents) as if set forth in full herein with respect thereto.

     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;

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

     (c) shall not, except as expressly set forth herein and in the other Loan Documents, have
any duty to disclose, and shall not be liable for the failure to disclose, any information relating
to the Borrower or any of its Affiliates that is communicated to or obtained by the Person serving
as the Administrative Agent or any of its Affiliates in any capacity.

     (d) 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 the applicable L/C
Issuer.

     (e) 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 the creation, perfection or priority of any Lien purported to be created
by the Collateral Documents, (v) the value or the sufficiency of any Collateral, 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 an 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

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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 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 give
notice of its resignation to the Lenders, the L/C Issuers and the Borrower. Upon receipt of any
such notice of resignation, the Required Lenders shall have the right, in consultation with the
Borrower, to appoint a successor, which shall be a bank with an office in the United States, or an
Affiliate of any such bank with an office in the United States. If no such successor shall have
been so appointed by the Required Lenders and shall have accepted such appointment within 30 days
after the retiring Administrative Agent gives notice of its resignation, then the retiring
Administrative Agent may on behalf of the Lenders and the L/C Issuers, appoint a successor
Administrative Agent meeting the qualifications set forth above; provided that if the
Administrative Agent shall notify the Borrower and the Lenders that no qualifying Person has
accepted such appointment, then such resignation shall nonetheless become effective in accordance
with such notice and (a) the retiring Administrative Agent shall be discharged from its duties and
obligations hereunder and under the other Loan Documents (except that in the case of any collateral
security held by the Administrative Agent on behalf of the Lenders or the L/C Issuers under any of
the Loan Documents, the retiring Administrative Agent shall continue to hold such collateral
security until such time as a successor Administrative Agent is appointed) and (b) 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 applicable 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.

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Any resignation by Bank of America as Administrative Agent pursuant to this Section shall also
constitute its resignation as L/C Issuer. Upon the acceptance of a successor’s appointment as
Administrative Agent hereunder, (i) such successor shall succeed to and become vested with all of
the rights, powers, privileges and duties of the retiring L/C Issuer, (ii) the retiring L/C Issuer
shall be discharged from all of its duties and obligations hereunder or under the other Loan
Documents, and (iii) 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 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
Bookrunners or Arrangers 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 any Loan Party,
the Administrative Agent (irrespective of whether the principal of any Loan or L/C Obligation shall
then be due and payable as herein expressed or by declaration or otherwise and irrespective of
whether the Administrative Agent shall have made any demand on the Borrower) shall be entitled and
empowered, by intervention in such proceeding or otherwise:

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

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such payments to the Administrative Agent and, if 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 2.08 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 to authorize the Administrative Agent to vote in respect of the claim of any Lender or
any L/C Issuer or in any such proceeding.

Notwithstanding anything to the contrary contained herein, the Administrative Agent shall not be
entitled or empowered to, and shall have no obligation to, absent a written agreement between the
applicable Cash Management Bank or Hedge Bank and the Administrative Agent, take any of the actions
described in this Section 9.09 with respect to Obligations on account of any Secured Cash
Management Agreement or Secured Hedge Agreement; provided that the Administrative Agent shall
provide to the Cash Management Banks and the Hedge Banks that have given notice in accordance with
Section 8.03, a copy of any proof of claim filed by the Administrative Agent pursuant to
this Section 9.09.

     9.10 Collateral and Guaranty Matters. Each of the Lenders (including in its capacities as
a potential Cash Management Bank and a potential Hedge Bank) and the L/C Issuers irrevocably
authorize the Administrative Agent, at its option and in its discretion,

     (a) to release any Lien on any property granted to or held by the Administrative Agent
under any Loan Document (i) upon termination of the Aggregate Commitments and payment in full of
all Obligations (other than (A) contingent indemnification obligations and (B) obligations and
liabilities under Secured Cash Management Agreements and Secured Hedge Agreements as to which
arrangements satisfactory to the applicable Cash Management Bank or Hedge Bank shall have been
made) 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 applicable 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, or (iii) if approved, authorized or ratified
in writing in accordance with Section 10.01;

     (b) to release any Subsidiary Guarantor from its obligations under the Subsidiary Guaranty
if such Person ceases to be a Subsidiary as a result of a transaction permitted hereunder; and

     (c) to subordinate any Lien on any property granted to or held by the Administrative Agent
under any Loan Document to the holder of any Lien on such property that is permitted by Section
7.01(i).

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

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Subsidiary Guaranty pursuant to this Section 9.10. In each case as specified in this Section 9.10,
the Administrative Agent will, at the Borrower’s expense, execute and deliver
to the applicable Loan Party such documents as such Loan Party may reasonably request to evidence
the release of such item of Collateral from the assignment and security interest granted under the
Collateral Documents or to subordinate the Administrative Agent’s interest in such item, or to
release such Subsidiary Guarantor from its obligations under the Subsidiary Guaranty, in each case
in accordance with the terms of the Loan Documents and this Section 9.10.

     9.11 Secured Cash Management Agreements and Secured Hedge Agreements. No Cash Management
Bank or Hedge Bank that obtains the benefits of Section 8.03, the Subsidiary Guaranty or
any Collateral by virtue of the provisions hereof or of the Subsidiary Guaranty or any Collateral
Document 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) 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, the Administrative Agent shall not 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,
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. 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 and the Borrower 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 (other than Section
4.01(b)(i)or (c)), or, in the case of the initial Credit Extension, Section
4.02, 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
(excluding mandatory prepayments) of principal, interest, fees or other amounts due to any Lender
without the written consent of such Lender;

     (d) reduce the principal of, or the rate of interest specified herein on, any Loan or L/C
Borrowing, or (subject to clause (iii) 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

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of each Lender entitled to such amount; provided, however, 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 Borrower 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 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 10.01 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;

     (g) release all or substantially all of the Collateral in any transaction or series of
related transactions, without the written consent of each Lender; or

     (h) release all or substantially all of the value of the Subsidiary Guaranty, without the
written consent of each Lender, except to the extent the release of any Subsidiary from the
Subsidiary Guaranty is permitted pursuant to Section 9.10 (in which case such release may
be made by the Administrative Agent acting alone);

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 such 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 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 (iii) 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 (x) the Commitment of any Defaulting Lender may not be
increased or extended or any amount owing to such Lender reduced (except in accordance with
Section 2.15) or the final maturity thereof extended, in each case, 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.

If any Lender does not consent to a proposed amendment, waiver, consent or release with respect to
any Loan Document that requires the consent of each Lender and that has been approved by the
Required Lenders, the Borrower may replace such non-consenting Lender in accordance with
Section 10.13; provided that such amendment, waiver, consent or release can be
effected as a result of the assignment contemplated by such Section (together with all other such
assignments required by the Borrower to be made pursuant to this paragraph).

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     10.02 Notices; Effectiveness; Electronic Communications. (a) Notices Generally.
Except in the case of notices and other communications expressly permitted to be given by telephone
(and except as provided in subsection (b) below), all notices and other communications provided for
herein shall be in writing and shall be delivered by hand or overnight courier service, mailed by
certified or registered mail or sent by telecopier as follows, and all notices and other
communications expressly permitted hereunder to be given by telephone shall be made to the
applicable telephone number, as follows:

     (i) if to the Borrower, the Administrative Agent or an L/C Issuer, 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, 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 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 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 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.

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     (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 MATERIALS OR THE ADEQUACY OF THE PLATFORM, AND EXPRESSLY DISCLAIM LIABILITY FOR ERRORS IN OR
OMISSIONS FROM THE 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 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 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 and each
L/C Issuer may change its address, telecopier or telephone number for notices and other
communications hereunder by notice to the other parties hereto. Each other Lender may change its
address, telecopier or telephone number for notices and other communications hereunder by notice to
the Borrower, the Administrative Agent and each other L/C Issuer. 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 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 securities for purposes of United States Federal or state securities
laws.

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

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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; Enforcement. No failure by any Lender, any L/C Issuer
or the Administrative Agent 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, and
provided under each other Loan Document, 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 all the Lenders and
the L/C Issuers; provided, however, 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 from exercising the rights and remedies that inure to its benefit
(solely in its capacity as L/C Issuer) 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 2.12), 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 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 2.12, 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 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), and shall pay all fees and time charges for 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

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under this Section, or (B) in connection with 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 fees, charges and disbursements of any counsel for any Indemnitee) incurred
by any Indemnitee or asserted against any Indemnitee by any third party or by the Borrower or any
other Loan Party arising out of, in connection with, or as a result of (i) the execution or
delivery of this Agreement, any other Loan Document or any agreement or instrument contemplated
hereby or thereby, the performance by the parties hereto of their respective obligations hereunder
or thereunder or the consummation of the transactions contemplated hereby or thereby, or, in the
case of the Administrative Agent (and any sub-agent thereof) and its Related Parties only, the
administration of this Agreement and the other Loan Documents, (ii) any Loan or Letter of Credit or
the use or proposed use of the proceeds therefrom (including any refusal by an L/C Issuer to honor
a demand for payment under a Letter of Credit if the documents presented in connection with such
demand do not strictly comply with the terms of such Letter of Credit), (iii) any actual or alleged
presence or release of Hazardous Materials on or from any property owned or operated by the
Borrower or any of its Subsidiaries, or any Environmental Liability related in any way to the
Borrower or any of its Subsidiaries, or (iv) any actual or prospective claim, litigation,
investigation or proceeding relating to any of the foregoing, whether based on contract, tort or
any other theory, whether brought by a third party or by the Borrower or any other Loan Party or
any of the Borrower’s or such Loan Party’s directors, shareholders or creditors, 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 OR THE STRICT LIABILITY
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 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 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), any 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

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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 2.11(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 the L/C Issuers, 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 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

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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 Section 10.06(b), (ii) by way of participation in accordance with the
provisions of Section 10.06(d), or (iii) by way of pledge or assignment of a security
interest subject to the restrictions of Section 10.06(f) (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(s) and the Loans (including for purposes of this Section
10.06(b), participations in L/C Obligations) 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, 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.

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     (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 provided that the Borrower shall
be deemed to have consented to any such assignment unless it shall object thereto by
written notice to the Administrative Agent within five (5) 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 a
Person that is not a Lender, an Affiliate of a Lender or an Approved Fund with
respect to a Lender; and

     (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 exposure under one or more Letters of
Credit (whether or not then outstanding).

     (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 (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), 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 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 in

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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 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 Section
10.06(d). Any assignee under an Assignment and Assumption shall not be so entitled to receive
any greater payment under Sections 3.01 or 3.04 than the applicable Lender would
have been entitled to receive with respect to its rights and obligations under this Agreement had
such Assignment and Assumption not been entered into, unless such Lender’s inability to receive a
greater payment was on account of its failure to comply with Section 3.01(e)(ii) of this
Agreement and the assignee complies with the requirements of such Section.

     (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, 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 or the Borrower or any of the Borrower’s Affiliates or Subsidiaries)
(each, a “Participant”) in all or a portion of such Lender’s rights and/or obligations
under this Agreement (including all or a portion of its Commitment and/or the Loans (including such
Lender’s participations in L/C Obligations) owing to it); provided that (i) such Lender’s

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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, (iii) such Lender,
acting solely for this purpose as an agent of the Borrower (and such agency being solely for tax
purposes) shall maintain a register on which it enters the name and address of each Participant and
the principal amounts (and stated interest) of each Participant’s interest in the Commitments, and
(iv) 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 Section 10.06(b). 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
2.12 as though it were a Lender.

     (e) Limitations upon Participant Rights. A Participant shall not be entitled to
receive any greater payment under Sections 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.

     (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) Resignation as L/C Issuer after Assignment. Notwithstanding anything to the
contrary contained herein, if at any time Bank of America assigns all of its Commitment and
Revolving Credit Loans pursuant to Section 10.06(b), Bank of America may, upon 30 days’
notice to the Borrower and the Lenders, resign as an L/C Issuer. In the event of any such
resignation as an L/C Issuer, the Borrower shall be entitled to appoint from among the Lenders a
successor L/C Issuer hereunder; provided, however, that no failure by the Borrower
to appoint any such successor shall affect the resignation of Bank of America as L/C Issuer. If
Bank of America resigns as an L/C Issuer, it shall retain all the rights, powers, privileges and
duties of an L/C Issuer hereunder with respect to all Letters of Credit outstanding as of the
effective date of its resignation as an L/C Issuer and all L/C Obligations with respect thereto
(including the right to require the Lenders to make Base Rate Loans or fund risk participations in
Unreimbursed Amounts pursuant to Section 2.03(c)). Upon the appointment of a successor L/C
Issuer, (a) such

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successor shall succeed to and become vested with all of the rights, powers, privileges and
duties of the retiring L/C Issuer and (b) the successor L/C Issuer shall issue letters of credit in
substitution for the Letters of Credit, if any, issued by such retiring L/C Issuer and outstanding
at the time of such succession or make other arrangements satisfactory to such retiring L/C Issuer
to effectively assume the obligations of such retiring L/C Issuer 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 (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 or any Eligible Assignee
invited to be a Lender pursuant to Section 2.13(c) 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 (i)
becomes publicly available other than as a result of a breach of this Section or (ii) becomes
available to the Administrative Agent, any Lender, any L/C Issuer or any of their respective
Affiliates on a nonconfidential basis from a source other than the Borrower. For purposes of this
Section, “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 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

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time and from time to time, after obtaining the prior written consent of the Administrative
Agent, to the fullest extent permitted by applicable law, to set off and apply any and all deposits
(general or special, time or demand, provisional or final, in whatever currency) at any time held
and other obligations (in whatever currency) at any time owing by such Lender, such L/C Issuer or
any such Affiliate to or for the credit or the account of the Borrower 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 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, (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
2.15 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, each L/C Issuer and their respective Affiliates under
this Section are in addition to other rights and remedies (including other rights of setoff) that
such Lender, such L/C Issuer or their respective Affiliates may have. Each Lender and each L/C
Issuer agrees to notify the Borrower and the Administrative Agent promptly after any such setoff
and application, provided that the failure to give such notice shall not affect the
validity of such setoff and application.

     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 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
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

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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
and each Lender, regardless of any investigation made by the Administrative Agent or any Lender or
on their behalf and notwithstanding that the Administrative Agent or any Lender may have had notice
or knowledge of any Default at the time of any Credit Extension, and shall continue in full force
and effect 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 or an L/C Issuer, 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 any Lender requests compensation under Section 3.04,
or if the Borrower is required to pay any additional amount to any Lender or any Governmental
Authority for the account of any Lender pursuant to Section 3.01, or if any Lender is a
Defaulting Lender or if any other circumstance exists hereunder that gives the Borrower the right
to replace a Lender as a party hereto, then the Borrower may, at its sole expense and effort, upon
notice to such Lender and the Administrative Agent, require such Lender to assign and delegate,
without recourse (in accordance with and subject to the restrictions contained in, and consents
required by, Section 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:

     (a) the Borrower 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 100% of the outstanding
principal of its Loans and L/C Advances, accrued interest thereon, accrued fees and all other
amounts payable to it hereunder and under the other Loan Documents (including any amounts under
Section 3.05) from the assignee (to the extent of such outstanding principal and accrued
interest and fees) or the Borrower (in the case of all other amounts);

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     (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 the Borrower to require
such assignment and delegation cease to apply.

     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. THE 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 CITY AND OF THE UNITED STATES DISTRICT COURT OF THE SOUTHERN DISTRICT OF
NEW YORK, AND ANY APPELLATE COURT FROM ANY THEREOF, IN ANY ACTION OR PROCEEDING ARISING OUT OF OR
RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT, OR FOR RECOGNITION OR ENFORCEMENT OF ANY
JUDGMENT, AND EACH OF THE PARTIES HERETO IRREVOCABLY AND UNCONDITIONALLY AGREES THAT ALL CLAIMS IN
RESPECT OF ANY SUCH ACTION OR PROCEEDING MAY BE HEARD AND DETERMINED IN SUCH NEW YORK STATE COURT
OR, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, IN SUCH FEDERAL COURT. EACH OF THE PARTIES
HERETO AGREES THAT A FINAL JUDGMENT IN ANY SUCH ACTION OR PROCEEDING SHALL BE CONCLUSIVE AND MAY BE
ENFORCED IN OTHER JURISDICTIONS BY SUIT ON THE JUDGMENT OR IN ANY OTHER MANNER PROVIDED BY LAW.
NOTHING IN THIS AGREEMENT OR IN ANY OTHER LOAN DOCUMENT SHALL AFFECT ANY RIGHT THAT THE
ADMINISTRATIVE AGENT, ANY LENDER OR ANY L/C ISSUER MAY OTHERWISE HAVE TO BRING ANY ACTION OR
PROCEEDING RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT AGAINST THE BORROWER OR ITS
PROPERTIES IN THE COURTS OF ANY JURISDICTION.

     (c) WAIVER OF VENUE. THE 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

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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

     10.15 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.

     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 and the Arranger, are arm’s-length
commercial transactions between the Borrower and its Affiliates, on the one hand, and the
Administrative Agent and the Arranger, 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 and the Arranger, 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 Arranger 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 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 Borrower and its Affiliates, and neither the
Administrative Agent nor the Arranger 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 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.

     10.17 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,

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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. 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
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 under applicable “know your customer” an 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.

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

	 	 	 	 	 
	 	TESORO LOGISTICS LP

 	 
	 	By:  	TESORO LOGISTICS GP, LLC, its
 	 
	 	 	general partner 	 
	 	 	 	 
	 
	 	 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

Signature Page to Credit Agreement

 

 

	 	 	 	 	 
	 	BANK OF AMERICA, N.A., as

Administrative Agent

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

Signature Page to Credit Agreement

 

 

	 	 	 	 	 
	 	BANK OF AMERICA, N.A., as a Lender and 

L/C Issuer

 	 
	 	By:  	

 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

Signature Page to Credit Agreement

 

 

	 	 	 	 	 
	 	WELLS FARGO BANK, NATIONAL

ASSOCIATION

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

Signature Page to Credit Agreement

 

 

	 	 	 	 	 
	 	CITIBANK, N.A.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

Signature Page to Credit Agreement

 

 

	 	 	 	 	 
	 	DEUTSCHE BANK TRUST COMPANY 

AMERICAS

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

Signature Page to Credit Agreement

 

 

	 	 	 	 	 
	 	ROYAL BANK OF CANADA

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

Signature Page to Credit Agreement

 

 

	 	 	 	 	 
	 	CREDIT SUISSE AG, CAYMAN ISLANDS

BRANCH

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

Signature Page to Credit Agreement

 

 

	 	 	 	 	 
	 	JPMORGAN CHASE BANK, N.A.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

Signature Page to Credit Agreement

 

 

	 	 	 	 	 
	 	SUNTRUST BANK

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

Signature Page to Credit Agreement

 

 

	 	 	 	 	 
	 	THE ROYAL BANK OF SCOTLAND PLC

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

Signature Page to Credit Agreement

 

 

	 	 	 	 	 
	 	RAYMOND JAMES BANK, FSB

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

Signature Page to Credit Agreement

 

 

	 	 	 	 	 
	 	BARCLAYS BANK PLC

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

Signature Page to Credit Agreement

 

 

	 	 	 	 	 
	 	AMEGY BANK, N.A.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

Signature Page to Credit Agreement

 

 

	 	 	 	 	 
	 	REGIONS BANK

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

Signature Page to Credit Agreementexv10w2

Exhibit 10.2

FORM OF

CONTRIBUTION, CONVEYANCE AND ASSUMPTION

AGREEMENT

by and among

TESORO LOGISTICS LP

TESORO LOGISTICS GP, LLC

TESORO LOGISTICS OPERATIONS LLC

TESORO CORPORATION

TESORO ALASKA COMPANY

TESORO REFINING AND MARKETING COMPANY

and

TESORO HIGH PLAINS PIPELINE COMPANY LLC

Dated as of [•], 2011

 

 

CONTRIBUTION, CONVEYANCE AND ASSUMPTION

AGREEMENT

     This Contribution, Conveyance and Assumption Agreement, dated as of [•], 2011 (this
“Agreement”), is by and among Tesoro Logistics LP, a Delaware limited partnership (the
“Partnership”), Tesoro Logistics GP, LLC, a Delaware limited liability company and the
general partner of the Partnership (the “General Partner”), Tesoro Logistics Operations
LLC, a Delaware limited liability company (the “Operating Company”), Tesoro Corporation, a
Delaware corporation (“Tesoro”), Tesoro Alaska Company, a Delaware corporation
(“Tesoro Alaska”), Tesoro Refining and Marketing Company, a Delaware corporation
(“TRMC”), and Tesoro High Plains Pipeline Company LLC, a Delaware limited liability company
(“High Plains”). The above-named entities are sometimes referred to in this Agreement
individually as a “Party” and collectively as the “Parties.” Capitalized terms
used herein shall have the meanings assigned to such terms in Article I.

RECITALS

     WHEREAS, the General Partner and Tesoro have formed the Partnership, pursuant to the Delaware
Revised Uniform Limited Partnership Act (the “Delaware Partnership Act”), for the purpose
of owning and operating crude oil and refined products logistics assets and providing related
logistics services, as well as engaging in any other business activity that is approved by the
General Partner and that lawfully may be conducted by a limited partnership organized under the
Delaware Partnership Act.

     WHEREAS, in order to accomplish the objectives and purposes in the preceding recital, each of
the following actions has been taken prior to the date hereof:

	1.	 	Tesoro formed the General Partner under the terms of the Delaware Limited
Liability Act (the “Delaware LLC Act”) and contributed $1,000 in exchange for
all of the member interests in the General Partner;

	2.	 	Tesoro and the General Partner formed the Partnership under the terms of the
Delaware Partnership Act and contributed $980 and $20, respectively, in exchange for a
98% limited partner interest (the “Initial LP Interest”) and a 2% general
partner interest, respectively, in the Partnership;

	3.	 	TRMC formed the Operating Company under the Delaware LLC Act and contributed
$1,000 in exchange for all of the member interests in the Operating Company;

	4.	 	Tesoro Alaska formed Tesoro Alaska Logistics LLC, a Delaware limited liability
company (“TAL”), under the Delaware LLC Act and contributed $1,000 in exchange
for all of the member interests in TAL;

	5.	 	Tesoro High Plains Pipeline Company, a Delaware corporation and the predecessor
to High Plains (“THPPC”), formed Tesoro Trucking Operations LLC, a Delaware
limited liability company (“Tesoro Trucking”), under the Delaware

1

 

	 	 	LLC Act and contributed $1,000 in exchange for all of the member interests in Tesoro
Trucking;

	6.	 	THPPC filed articles of conversion under the Delaware LLC Act and converted
from a Delaware corporation to a Delaware limited liability company;

	7.	 	Pursuant to that certain Bill of Sale and Assignment, dated as of December 7,
2010, High Plains contributed certain logistics assets to Tesoro Trucking;

	8.	 	Pursuant to that certain Contribution Agreement, dated as of [•], 2011, by and
between Tesoro Alaska and TAL, Tesoro Alaska contributed certain logistics assets (the
“Tesoro Alaska Assets”) to TAL;

	9.	 	Pursuant to that certain Contribution Agreement, dated as of [•], 2011, by and
between TRMC and the Operating Company, TRMC conveyed certain logistics assets (the
“TRMC Assets”) to the Operating Company;

	10.	 	Pursuant to that certain Assignment and Assumption Agreement, dated as of April
[•], 2011, by and between TRMC and the Operating Company, TRMC agreed to assign,
subject to the consent of the Port Authority, all of its right, title and interest in,
to and under the Vancouver Lease to the Operating Company;

     WHEREAS, immediately prior to the consummation of the transactions contemplated hereby (the
“Closing”), Tesoro will convey a portion of its member interest in High Plains (the “HP
Interest”) to the General Partner as a capital contribution with a value equal to (a) 2% of the
equity value of the Partnership immediately after the Closing plus (b) $50 million;

     WHEREAS, concurrently with the Closing, each of the matters provided for in Article II
will occur in accordance with its respective terms;

     WHEREAS, if the Over-Allotment Option is exercised, each of the matters provided for in
Article III will occur in accordance with its respective terms; and

     WHEREAS, the stockholders, members or partners of the Parties have taken all corporate,
limited liability company and partnership action, as the case may be, required to approve the
transactions contemplated by this Agreement.

     NOW, THEREFORE, in consideration of the mutual covenants, representations, warranties and
agreements herein contained, the parties hereto agree as follows:

ARTICLE I

DEFINITIONS

     Capitalized terms used but not otherwise defined herein shall have the respective meanings
ascribed to such terms below:

     “Common Unit” means a common unit representing a limited partner interest in the
Partnership having the rights set forth in the Partnership Agreement.

2

 

     “Effective Time” means 8:00 a.m. Central Time on the date of the Closing.

     “Master Terminalling Agreement” means that certain Master Terminalling Agreement,
dated as of April [•], 2011, among TRMC, Tesoro Alaska and the Operating Company, as such agreement
may be amended, supplemented or restated from time to time.

     “Offering” means the initial public offering of the Partnership’s Common Units.

     “Omnibus Agreement” means that certain Omnibus Agreement, dated as of April [•], 2011,
among Tesoro, TRMC, Tesoro Companies, Inc., a Delaware corporation, Tesoro Alaska, the General
Partner and the Partnership, as such agreement may be amended, supplemented or restated from time
to time.

     “Option Units” means the Common Units that the Partnership will agree to issue upon an
exercise of the Over-Allotment Option.

     “Original Partnership Agreement” means that certain Agreement of Limited Partnership
of the Partnership, dated as of December 3, 2010.

     “Over-Allotment Option” has the meaning assigned to it in the Partnership Agreement.

     “Partnership Agreement” means the First Amended and Restated Agreement of Limited
Partnership of the Partnership, dated as of the date of this Agreement.

     “Partnership Group” has the meaning set forth in the Omnibus Agreement.

     “Port Authority” means the Port of Vancouver, U.S.A.

     “Registration Statement” means the Registration Statement on Form S-1 filed with the
United States Securities and Exchange Commission (Registration No. 333-171525), as amended.

     “Subordinated Units” means a subordinated unit representing a limited partner interest
in the Partnership having the rights set forth in the Partnership Agreement.

     “Underwriters” means the underwriting syndicate listed in the Underwriting Agreement.

     “Underwriting Agreement” means a firm commitment underwriting agreement to be entered
into between the Partnership and the underwriters named in the Registration Statement.

     “Vancouver Lease” means that certain Lease Agreement dated October 22, 1996 by and
between the Port of Vancouver, U.S.A., and Tesoro Refining and Marketing Company
(successor-in-interest to Tesoro Alaska Petroleum Company), as amended.

     “Vancouver Property” means the real property and personal property, if any, leased by
TRMC pursuant to the Vancouver Lease.

3

 

ARTICLE II

CONTRIBUTIONS, ACKNOWLEDGEMENTS AND DISTRIBUTIONS

     The following shall be completed immediately following the Effective Time in the order set
forth herein:

     Section 2.1 Execution of the Partnership Agreement. The Partnership, the General Partner and Tesoro shall amend and restate the Original
Partnership Agreement by executing the Partnership Agreement in substantially the form included in
Appendix A to the Registration Statement, with such changes as the Partnership, the General Partner
and Tesoro may agree.

     Section 2.2 Conveyance of the HP Interest to the General Partner. Tesoro hereby grants, contributes, bargains, conveys, assigns, transfers, sets over and
delivers to the General Partner, its successors and its assigns, for its and their own use forever,
all right, title and interest in and to the HP Interest, and the General Partner hereby accepts the
HP Interest as a contribution to the capital of the General Partner.

     Section 2.3 Conveyance of the HP Interest by the General Partner to the Partnership. The General Partner hereby grants, contributes, bargains, conveys, assigns, transfers, sets
over and delivers to the Partnership, its successors and its assigns, for its and their own use
forever, all right, title and interest in and to the HP Interest in exchange for (a) a continuation
of the General Partner’s 2% general partner interest in the Partnership, (b) the issuance to the
General Partner of all of the equity interests in the Partnership classified as “Incentive
Distribution Rights” under the Partnership Agreement and (c) the right to receive a $50.0 million
distribution from borrowings under the Partnership’s new credit facility (the “Borrowed
Funds”), and the Partnership hereby accepts the HP Interest as a contribution to the capital of
the Partnership.

     Section 2.4 Conveyance of the Tesoro HP Interest by Tesoro to the Partnership. Tesoro hereby grants, contributes, bargains, conveys, assigns, transfers, sets over and
delivers to the Partnership, its successors and its assigns, for its and their own use forever, all
right, title and interest in and to Tesoro’s remaining member interest in High Plains (the
“Tesoro HP Interest”) in exchange for (a) [•] Common Units representing a [•]% limited
partner interest in the Partnership, (b) [•] Subordinated Units representing a [•]% limited partner
interest in the Partnership, and (c) the right to receive $[•] million in proceeds from the
Offering, of which $[•] million is to reimburse Tesoro for certain capital expenditures incurred by
Tesoro with respect to High Plains, and the Partnership hereby accepts the Tesoro HP Interest as a
contribution to the capital of the Partnership.

     Section 2.5 Conveyance of the Operating Company Interest by TRMC to the Partnership. TRMC hereby grants, contributes, bargains, conveys, assigns, transfers, sets over and
delivers to the Partnership, its successors and its assigns, for its and their own use forever, all
right, title and interest in and to all of the member interests in the Operating Company (the
“Operating Company Interest”) in exchange for (a) [•] Common Units representing a [•]%
limited partner interest in the Partnership, (b) [•] Subordinated Units representing a [•]% limited
partner interest in the Partnership, and (c) the right to receive $[•] million in proceeds from the
Offering, of which $[•] million is to reimburse TRMC for certain capital expenditures incurred

4

 

by
TRMC with respect to the TRMC Assets, and the Partnership hereby accepts the Operating Company
Interest as a contribution to the capital of the Partnership.

     Section 2.6 Conveyance of the TAL Interest by Tesoro Alaska to the Partnership. Tesoro Alaska hereby grants, contributes, bargains, conveys, assigns, transfers, sets over
and delivers to the Partnership, its successors and its assigns, for its and their own use forever,
all right, title and interest in and to all of the member interests in TAL (the “TAL
Interest”) in exchange for (a) [•] Common Units representing a [•]% limited partner interest in
the Partnership, (b) [•] Subordinated Units representing a [•]% limited partner interest in the
Partnership, and (c) the right to receive $[•] million in proceeds from the Offering, of which $[•]
million is to reimburse Tesoro Alaska for certain capital expenditures incurred by Tesoro Alaska
with respect to the Tesoro Alaska Assets, and the Partnership hereby accepts the TAL Interest as a
contribution to the capital of the Partnership.

     Section 2.7 Public Cash Contribution. The Parties acknowledge that, in connection with the Offering, the public, through the
Underwriters, has made a capital contribution to the Partnership of $[•] in cash in exchange for
[•] Common Units (the “Firm Units”) representing a [•]% limited partner interest in the
Partnership.

     Section 2.8 Payment of Transaction Expenses and Contribution of Proceeds by the
Partnership. The Parties acknowledge (a) the payment by the Partnership, in connection with the Closing,
of transaction expenses in the amount of approximately $[•] million, excluding underwriting
discounts of $[•] in the aggregate but including a structuring fee of 0.25% of the gross proceeds
of the Offering payable to one of the Underwriters (the “Structuring Fee”) and an advisory
fee of $2.0 million payable to a third party advisor, (b) the distribution of approximately $[•]
million to Tesoro, in part as a reimbursement of qualified capital expenditures, (c) the
distribution of approximately $[•] million to TRMC, in part as a reimbursement of qualified capital
expenditures, (d) the distribution of approximately $[•] million to Tesoro Alaska, in part as a
reimbursement of qualified capital expenditures, and (e) the contribution by the Partnership of
approximately $[•] million to the Operating Company to be used for working capital purposes.

     Section 2.9 Contribution of Member Interests in High Plains and TAL to the Operating
Company. The Partnership hereby grants, contributes, bargains, conveys, assigns, transfers, sets
over and delivers to the Operating Company, its successors and its assigns, for its and their own
use forever, all right, title and interest in and to the Partnership’s member interests

5

 

in each of
High Plains and TAL, as a capital contribution, and the Operating Company hereby accepts such
member interests. The Parties acknowledge that, after such contribution, the Operating Company
will own all of the member interests in High Plains and TAL.

     Section 2.10 Distribution of
Member Interest in Tesoro Trucking to the Operating
Company. High Plains hereby grants, distributes, bargains, conveys, assigns, transfers, sets over
and delivers to the Operating Company, its successors and its assigns, for its and their own use
forever, all right, title and interest in and to all of the member interest in Tesoro Trucking, and
the Operating Company hereby accepts such member interest.

     Section 2.11 Merger of TAL and Tesoro Trucking with the Operating Company. The Parties acknowledge that TAL and Tesoro Trucking will merge with and into the Operating
Company in accordance with Delaware law, with the Operating Company continuing as the surviving
company.

     Section 2.12 Delivery of 10-Year Note by Tesoro. The Parties acknowledge that (a) the Partnership (i) has entered into a $150.0 million
credit facility guaranteed by the Operating Company and High Plains, (ii) will use $2.0 million of
proceeds from the Offering to pay debt finance costs associated with the credit facility and (iii)
has distributed the Borrowed Funds to the General Partner, and (b) the General Partner has loaned
the Borrowed Funds to Tesoro pursuant to a 10-year note in the form attached as Exhibit A
to this Agreement.

     Section 2.13 Redemption of the Initial LP Interest from Tesoro and Return of Initial
Capital Contribution. The Partnership hereby redeems the Initial LP Interest held by Tesoro and hereby refunds
and distributes to Tesoro the initial contribution, in the amount of $980, made by Tesoro in
connection with the formation of the Partnership, along with any interest or other profit that
resulted from the investment or other use of such initial contribution.

ARTICLE III

EXERCISE OF OVER-ALLOTMENT OPTION

     If the Over-Allotment Option is exercised in whole or in part, the Underwriters will
contribute additional cash to the Partnership in exchange for Option Units on the basis of the
Offering price per Common Unit set forth in the Registration Statement, net of underwriting
discounts and the Structuring Fee. The Partnership hereby agrees to redeem a number of Common
Units from Tesoro, TRMC and Tesoro Alaska, in a proportionate amount to their respective ownership
percentages of Common Units immediately prior to the exercise of the Over-Allotment Option, equal
to the number of Option Units sold by the Partnership pursuant to the exercise of the
Over-Allotment Option on the basis of the Offering price per Common Unit set forth in the
Registration Statement, net of underwriting discounts and the Structuring Fee.

ARTICLE IV

FURTHER ASSURANCES

     From time to time after the Effective Time, and without any further consideration, the Parties
agree to execute, acknowledge and deliver all such additional deeds, assignments, bills of sale,
conveyances, instruments, notices, releases, acquittances and other documents, and to do all such
other acts and things, all in accordance with applicable law, as may be necessary or appropriate
(a) more fully to assure that the applicable Parties own all of the properties, rights, titles,
interests, estates, remedies, powers and privileges granted by this Agreement, or which are
intended to be so granted, (b) more fully and effectively to vest in the applicable Parties and
their respective successors and assigns beneficial and record title to the interests contributed
and assigned by this Agreement or intended to be so and (c) more fully and effectively to carry out
the purposes and intent of this Agreement.

ARTICLE V

ORDER OF COMPLETION AND EFFECTIVE TIME

     Section 5.1 Order of Completion of Transactions. The transactions provided for in Article II and Article III of this
Agreement shall be completed immediately following the

6

 

Effective Time in the following order:
first, the transactions provided for in Article II shall be completed in the order set
forth therein; and second, following the completion of the transactions provided for in Article
II, the transactions provided for in Article III, if they occur, shall be completed.

     Section 5.2 Effective Time . Notwithstanding anything contained in this Agreement to the contrary, none of the
provisions of Article II, Article III or Article IV shall be operative or
have any effect until the Effective Time, at which time all such provisions shall be effective and
operative in accordance with Section 5.1 without further action by any Party.

ARTICLE VI

LICENSE TO USE LEASED PROPERTY

     Section 6.1 License.

          (a) To the extent that the Port Authority has not consented to the assignment of the Vancouver
Lease to the Operating Company by the Closing, subject to Section 6.2, TRMC hereby grants a
license (the “License”) to the Operating Company to enter upon, access, use, expand,
maintain, alter, repair, replace and/or operate (“Operate”) the Vancouver Property for the
purpose of operating the Partnership Group’s business as described in the Registration Statement.

          (b) The Operating Company hereby agrees to operate the Vancouver Property with the same
standard of care as used by TRMC in the use and operation of the Vancouver Property as of the
Closing, and agrees to comply with all applicable legal, regulatory and permit requirements in
conducting its operations.

          (c) Each of the Operating Company and TRMC shall cooperate with the other Party in connection
with the Operating Company’s use of the Vancouver Property so as to avoid unreasonable interference
with the use and enjoyment of the Vancouver Property by the other Party. From and after the
Closing, the Operating Company shall exclusively Operate the Vancouver Property and the Operating
Company’s use of the Vancouver Property shall be subject to the terms of the Master Terminalling
Agreement.

          (d) The Operating Company shall pay TRMC a license fee equal to thirteen thousand dollars
($13,000.00) per month during the term of the License. The Operating Company shall also reimburse
TRMC for any actual and reasonable costs incurred by TRMC related to or arising out of Operating
Company’s use of the Vancouver Property subject to the Vancouver Lease, excluding rent payable
under the Vancouver Lease. For any partial month during the term of the License, the license fee
shall be prorated.

     Section 6.2 Termination. The License granted pursuant to Section 6.1(a) will
terminate upon the earlier of (a) the effective date of the Port Authority’s consent to, and the
assignment of, the Vancouver Lease and (b) the termination or expiration of the Vancouver Lease (as
such may be extended from time to time) in accordance with its terms. TRMC shall not have any
obligation to preserve and maintain the Operating Company’s right to Operate the Vancouver Property
following the termination or expiration of the Vancouver Lease.

7

 

     Section 6.3 Indemnification.

          (a) The Operating Company hereby agrees to indemnify, defend and hold harmless TRMC from and
against any losses suffered or incurred by TRMC by reason of or arising out of any act or omission
of the Operating Company, as applicable, in contravention of the Vancouver Lease and occurring
after the Closing. For the avoidance of doubt, the foregoing indemnification is intended to be in
addition to and not in limitation of any indemnification to which TRMC is entitled under Sections
3.1(b) or 3.5(b) of the Omnibus Agreement.

          (b) The Parties acknowledge and agree that the Operating Company, as a member of the
Partnership Group, is entitled to certain indemnification with respect to the Vancouver Property
under the terms of the Omnibus Agreement and nothing in this Section 6.3 shall be construed
to limit such indemnification.

     Section 6.4 Cooperation on Assignment. The Parties shall cooperate and use
commercially reasonable efforts to have the assignment of the Vancouver Lease approved by the Port
Authority at the earliest practicable time. In this regard, the Operating Company shall provide
such forms of financial security and meet other requirements as may be reasonably required by the
Port Authority, consistent with the terms of the Vancouver Lease.

     Section 6.5 Operating Agreement. In the event that each of the following conditions
is satisfied: (i) The Port Authority concludes that the License or the Operating Company’s
occupancy of the Vancouver Property pursuant thereto is a breach of the Vancouver Lease and (ii)
the Port Authority has not granted its consent for the assignment of the Lease, and the Lease has
not been assigned, to the Operating Company, then the Operating Company shall vacate the
Vancouver Property promptly upon receipt of a written revocation of the License from TRMC, and
TRMC hereby agree to enter into an operating agreement upon the following terms:

          (a) TRMC will appoint the Operating Company as its agent and operator of the Vancouver
Property, and the Operating Company will agree to Operate the Vancouver Property;

          (b) As operator of the Vancouver Property, the Operating Company will Operate the Vancouver
Property and will exercise exclusive supervision and control over the Operation of the Vancouver
Assets; and

          (c) As consideration for the Operating Company’s agreement to Operate the Vancouver Property,
TRMC will pay the Operating Company an amount equal to (i) the sum of (A) the same consideration
and fees the Operating Company would have been entitled to under the Master Terminalling Agreement
with respect to the Vancouver Property as would otherwise have been due and payable to the
Operating Company had the Lease been assigned to the Operating Company pursuant to the Assignment
and Assumption Agreement, and (B) any revenues due and payable to TRMC under any third party
terminalling services (or similar) agreements with respect to the Vancouver Property, less (ii) any
reasonable costs and expenses (including capital costs) incurred by TRMC in connection with its
continued performance under the Lease with respect to the Vancouver Property.

8

 

ARTICLE VII

MISCELLANEOUS

     Section 7.1 Costs. Except for the transaction expenses set forth in Section 2.8, the Operating Company
shall pay all expenses, fees and costs, including, but not limited to, all sales, use and similar
taxes arising out of the contributions, conveyances and deliveries to be made under Article
II and shall pay all documentary, filing, recording, transfer, deed and conveyance taxes and
fees required in connection therewith. In addition, the Operating Company shall be responsible for
all costs, liabilities and expenses (including court costs and reasonable attorneys’ fees) incurred
in connection with the implementation of any conveyance or delivery pursuant to Article IV
(to the extent related to any of the contributions, conveyances and deliveries to be made under
Article II).

     Section 7.2 Headings; References; Interpretation. All Article and Section headings in this Agreement are for convenience only and shall not
be deemed to control or affect the meaning or construction of any of the provisions hereof. The
words “hereof,” “herein” and “hereunder” and words of similar import, when used in this Agreement,
shall refer to this Agreement as a whole, including, without limitation, all Schedules and Exhibits
attached hereto, and not to any particular provision of this Agreement. All references herein to
Articles, Sections, Schedules and Exhibits shall, unless the context requires a different
construction, be deemed to be references to the Articles and Sections of this Agreement and the
Schedules and Exhibits attached hereto, and all such Schedules and Exhibits attached hereto are
hereby incorporated herein and made a part hereof for all purposes. All personal
pronouns used in this Agreement, whether used in the masculine, feminine or neuter gender,
shall include all other genders, and the singular shall include the plural and vice versa. The use
herein of the word “including” following any general statement, term or matter shall not be
construed to limit such statement, term or matter to the specific items or matters set forth
immediately following such word or to similar items or matters, whether or not non-limiting
language (such as “without limitation,” “but not limited to” or words of similar import) is used
with reference thereto, but rather shall be deemed to refer to all other items or matters that
could reasonably fall within the broadest possible scope of such general statement, term or matter.

     Section 7.3 Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of the Parties and their
respective successors and assigns.

     Section 7.4 No Third Party Rights. The provisions of this Agreement are intended to bind the Parties as to each other and are
not intended to and do not create rights in any other person or confer upon any other person any
benefits, rights or remedies, and no person is or is intended to be a third party beneficiary of
any of the provisions of this Agreement.

     Section 7.5 Counterparts. This Agreement may be executed in any number of counterparts with the same effect as if all
Parties had signed the same document. All counterparts shall be construed together and shall
constitute one and the same instrument.

     Section 7.6 Applicable Law; Forum, Venue and Jurisdiction. This Agreement shall be construed in accordance with and governed by the laws of the State
of Texas, without regard to the principles of conflicts of law. Each of the Parties (a)
irrevocably agrees that any

9

 

claims, suits, actions or proceedings arising out of or relating in any
way to this Agreement shall be exclusively brought in any federal court of competent jurisdiction
situated in the United States District Court for the Western District of Texas, San Antonio
Division, or if such federal court declines to exercise or does not have jurisdiction, in the
district court of Bexar County, Texas, in each case regardless of whether such claims, suits,
actions or proceedings sound in contract, tort, fraud or otherwise, are based on common law,
statutory, equitable, legal or other grounds, or are derivative or direct claims; (b) irrevocably
submits to the exclusive jurisdiction of the United States District Court for the Western District
of Texas, San Antonio Division, or if such federal court declines to exercise or does not have
jurisdiction, of the district court of Bexar County, Texas in connection with any such claim, suit,
action or proceeding; (c) agrees not to, and waives any right to, assert in any such claim, suit,
action or proceeding that (i) it is not personally subject to the jurisdiction of the United States
District Court for the Western District of Texas, San Antonio Division, or the district court of
Bexar County, Texas, or of any other court to which proceedings in such courts may be appealed,
(ii) such claim, suit, action or proceeding is brought in an inconvenient forum, or (iii) the venue
of such claim, suit, action or proceeding is improper; (d) expressly waives any requirement for the
posting of a bond by a party bringing such claim, suit, action or proceeding; and (e) consents to
process being served in any such claim, suit, action or proceeding by mailing, certified mail,
return receipt requested, a copy thereof to such party at the address in effect for notices
hereunder or by personal service within or without the State of Texas, and agrees that service in
such forms shall constitute good and sufficient service of process and notice thereof; provided,
however, that nothing in clause (e) hereof shall affect or limit any right to serve process
in any other manner permitted by law.

     Section 7.7 Severability. If any of the provisions of this Agreement are held by any court of competent jurisdiction
to contravene, or to be invalid under, the laws of any political body having jurisdiction over the
subject matter hereof, such contravention or invalidity shall not invalidate the entire Agreement.
Instead, this Agreement shall be construed as if it did not contain the particular provision or
provisions held to be invalid and an equitable adjustment shall be made and necessary provision
added so as to give effect to the intention of the Parties as expressed in this Agreement at the
time of execution of this Agreement.

     Section 7.8 Amendment or Modification. This Agreement may be amended or modified from time to time only by the written agreement
of all the Parties. Each such instrument shall be reduced to writing and shall be designated on
its face as an amendment to this Agreement. Notwithstanding anything in the foregoing to the
contrary, any amendment executed by the Partnership or any of its subsidiaries shall not be
effective unless and until the execution of such amendment has been approved by the conflicts
committee of the General Partner’s board of directors.

     Section 7.9 Integration. THIS AGREEMENT AND THE INSTRUMENTS REFERENCED HEREIN SUPERSEDE ALL PREVIOUS UNDERSTANDINGS
OR AGREEMENTS AMONG THE PARTIES, WHETHER ORAL OR WRITTEN, WITH RESPECT TO THE SUBJECT MATTER OF
THIS AGREEMENT AND SUCH INSTRUMENTS. THIS AGREEMENT AND SUCH INSTRUMENTS CONTAIN THE ENTIRE
UNDERSTANDING OF THE PARTIES WITH RESPECT TO THE SUBJECT MATTER HEREOF AND THEREOF. THERE ARE NO
UNWRITTEN ORAL

10

 

AGREEMENTS BETWEEN THE PARTIES. NO UNDERSTANDING, REPRESENTATION, PROMISE OR
AGREEMENT, WHETHER ORAL OR WRITTEN, IS INTENDED TO BE OR SHALL BE INCLUDED IN OR FORM PART OF THIS
AGREEMENT UNLESS IT IS CONTAINED IN A WRITTEN AMENDMENT HERETO EXECUTED BY THE PARTIES HERETO AFTER
THE DATE OF THIS AGREEMENT.

     Section 7.10 Deed; Bill of Sale; Assignment. To the extent required and permitted by applicable law, this Agreement shall also
constitute a “deed,” “bill of sale” or “assignment” of the assets and interests referenced herein.

[Signature Page Follows]

11

 

     IN WITNESS WHEREOF, the parties to this Agreement have caused it to be duly executed as of the
date first above written.

	 	 	 

	TESORO LOGISTICS LP

	 	TESORO CORPORATION
	 
	 	 
	By: Tesoro Logistics GP, LLC, its general partner
	 	 

	 	 	 	 	 
	By:

	 	 	By:	 
	 	 

	 	 	 
	 	Name:

	 	 	Name:
	 	Title:

	 	 	Title:

	 	 	 
	TESORO LOGISTICS GP, LLC

	 	TESORO ALASKA COMPANY
	 
	 	 
	By: Tesoro Corporation, its sole member
	 	 

	 	 	 	 	 
	By:

	 	 	By:	 
	 	 

	 	 	 
	 	Name:

	 	 	Name:
	 	Title:

	 	 	Title:

	 	 	 
	TESORO LOGISTICS OPERATIONS LLC

	 	TESORO REFINING AND MARKETING COMPANY

	 	 	 	 	 
	By:

	 	 	By:	 
	 	 

	 	 	 
	 	Name:

	 	 	Name:
	 	Title:

	 	 	Title:

	 	 	 
	

	 

	 	TESORO HIGH PLAINS PIPELINE COMPANY LLC
	

	 	 	 	 	 
	 

	 	 	       By:	 
	 	 

	 	 	 
	 	 

	 	 	Name:
	 	 

	 	 	Title:

Signature Page to Contribution, Conveyance and Assumption Agreement

 

EXHIBIT A

Form of 10-Year Note

INTERCOMPANY NOTE

			
	$50,000,000
	 	San Antonio, Texas
	 
	 	[________________], 2011
	 
	 	(the “Note Date”)

     FOR VALUE RECEIVED, TESORO CORPORATION, a Delaware corporation, having an address at 19100
Ridgewood Pkwy, San Antonio, Texas 78259 (“Maker”) promises to pay to the order of TESORO
LOGISTICS GP, LLC, a Delaware limited liability company, having an address at 19100 Ridgewood Pkwy,
San Antonio, Texas 78259 (“Payee”) the principal sum of FIFTY MILLION DOLLARS
($50,000,000). Maker also promises to pay to Payee interest on the outstanding principal amount of
this Note, from time to time, at the rate equal to the greater of (i) 4.19% and (ii) the short-term
“Applicable Federal Rate” (as defined in and determined under Section 1274(d) of the Internal
Revenue Code of 1986, as amended, in effect on the date hereof. Interest shall be computed on the
basis of a year of 365 (or 366) days and shall be due and payable in arrears on a quarterly basis
within five business days of the last day of each fiscal quarter.

     Maker shall pay all obligations in lawful money of the United States in immediately available
funds, free and clear of, and without deduction or offset for, any present or future taxes, levies,
imposts, charges, withholdings, or liabilities with respect thereto; or any other defenses,
offsets, set-offs, claims, counterclaims, credits, or deductions of any kind. Maker’s obligations
under this Note are completely independent of all circumstances whatsoever other than as this Note
expressly states.

     1.
Maturity; Prepayment. The principal and accrued but unpaid interest on this Note shall be due and payable on
demand, and if no demand has been made prior thereto, on [___], 2021. Maker may prepay this Note at any time, in whole or
in part, without notice, penalty, or premium, provided only that Maker simultaneously pays interest to the date of such prepayment.

     2.
Post-Maturity
Interest; Etc. Any amount of principal or interest which is not paid when due, whether at maturity or otherwise,
shall bear interest from the date when due until said principal or interest amount is paid in full, payable on demand, at the per
annum rate of six percent (6.0%).

     3. Waivers. Maker and any endorsers and guarantors of this Note, and all others who may become liable for all or any part of the obligations evidenced by this Note,
severally waive presentment for payment, protest, notice of protest, dishonor, notice of dishonor, demand, notice of non-payment, and the benefit of all statutes, ordinances,
judicial rulings, and other legal principles of any kind, now or hereafter enacted or in force, affording any right of cure or any right to a stay of execution or extension of time for
payment or exempting any property of such person from levy and sale upon execution of any judgment obtained by the holder in respect of this Note.
THE PARTIES WAIVE JURY TRIAL IN ANY ACTION TO ENFORCE OR INTERPRET, OR OTHERWISE ARISING FROM, THIS NOTE.

 

 

     4.
GOVERNING
LAW. THIS NOTE AND THE PARTIES’ RIGHTS UNDER THIS NOTE SHALL BE GOVERNED BY AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH THE
LAWS OF THE STATE OF NEW YORK NOTWITHSTANDING ANY PRINCIPLES OF CONFLICTS OF LAW.

     5.
Severability. If any provision of this Note is invalid or unenforceable, then the other provisions shall remain in full force and effect and
shall be liberally construed in favor of Payee.
Maker has executed and delivered this Note as of the Note Date.

	 	 	 	 	 
	 	TESORO CORPORATION

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:

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