Document:

exv10w19

Exhibit
10.19

FORM OF

TERMINAL SUBLEASE

BETWEEN

TESORO ALASKA COMPANY

AS LANDLORD

AND

TESORO ALASKA LOGISTICS LLC

AS TENANT

 

 

TERMINAL SUBLEASE

     This Terminal Sublease (this “Sublease”) is entered into as of April [___], 2011,
between Tesoro Alaska Company, a Delaware corporation (“Landlord”), and Tesoro Alaska
Logistics LLC, a Delaware limited liability company (“Tenant”).

     WHEREAS, pursuant to that certain Ground Lease, dated as of April 25, 1992 (as may be
amended, modified or supplemented from time to time, the “Master Lease”), by and between
Alaska Railroad Corporation (the “Master Lessor”) and Landlord, as lessee, Landlord has
leased from Master Lessor that certain real property, together with all improvements located
thereon, situated in Anchorage, Alaska, commonly known as Anchorage Terminal 1 and more
particularly described on Exhibit A attached hereto and incorporated herein by reference
(“Landlord’s Property”). “Landlord’s Remaining Property” means the portion of
Landlord’s Property that will be retained by Landlord and not subject to this Sublease to Tenant.

     WHEREAS, Tenant desires to lease from Landlord and Landlord desires to sublease to Tenant the
portion of Landlord’s Property commonly known as the Terminal and more particularly described on
Exhibit B attached hereto and incorporated herein by reference, together with all
improvements leased from Master Lessor situated thereon (the “Premises”). Improvements not
owned by Landlord include (i) the improvements previously owned by Landlord and being transferred
to Tenant by separate conveyance concurrently herewith; (ii) the transmix tank and pipelines,
utilities and equipment attached thereto owned by Tesoro Alaska Pipeline Company located at the
southeast corner of the land described on Exhibit B (the “Transmix Facilities”),
and (iii) the improvements retained by Master Lessor under the Master Lease.

     WHEREAS, in order for Tenant to have access to the Premises for pedestrian and vehicular
ingress and egress and for certain utilities, Tenant may need to enter upon a portion of Landlord’s
Remaining Property.

     WHEREAS, in order for Landlord to have access to Landlord’s Remaining Property, Landlord may
need to enter upon a portion of the Premises.

     ARTICLE 1. DEMISE OF PREMISES AND ACCESS EASEMENT

     1.01 Demise of Premises. In consideration of the mutual covenants and agreements of
this Sublease, and other good and valuable consideration, Landlord demises and subleases to Tenant,
and Tenant subleases from Landlord, the Premises, reserving unto Landlord (i) an easement
appurtenant to Landlord’s Remaining Property for the use, operation, maintenance, repair and
replacement of the Transmix Facilities, including without limitation an easement for ingress to and
egress from the portion of the Premises on which the Transmix Facilities are located (the
“Transmix Facilities Easement”) and (ii) an easement appurtenant to Landlord’s
Remaining Property for pedestrian and vehicular ingress and egress to and from the Landlord’s
Remaining Property over and across the portion of the Premises adjacent to Landlord’s Remaining
Property used by Tenant for pedestrian and vehicular ingress and egress to and from the Premises.
Tenant acknowledges that concurrently herewith, Landlord intends to sublease to Tesoro Alaska
Pipeline Company the portion of Landlord’s Remaining Property benefited by the Transmix Facilities
Easement.

 

 

     1.02 Access Easement. Landlord grants Tenant an easement for pedestrian and vehicular
ingress and egress to and from the Premises and for utility access over and across Landlord’s
Remaining Property as reasonably needed by Tenant in order to operate the Premises. Landlord shall
have the right to designate a reasonable course through which Tenant and its employees, agents,
contractors and invitees must follow across Landlord’s Remaining Property in order to access the
Premises, and to otherwise establish reasonable restrictions upon Tenant’s use of Landlord’s
Remaining Property for access to the Premises.

     1.03 Master Lease. This Sublease is and shall be subject to and subordinate to the
Master Lease. During the term of this Sublease and for all subsequent periods for obligations which
have arisen prior to the termination of this Sublease, Tenant does hereby expressly assume and
agree to perform and comply with, for the benefit of Landlord and Master Lessor, each and every
obligation of the Landlord under the Master Lease insofar as the same is applicable to the Premises
and the easements over the Landlord’s Remaining Property, other than the obligation to pay rent to
the Master Lessor. Tenant agrees to attorn to Master Lessor if Landlord defaults under the Master
Lease and if Tenant is notified of Landlord’s default and is instructed by Master Lessor to make
Tenant’s rental payments to Master Lessor. If for any reason the Master Lease is terminated,
including but not limited to a termination caused by Landlord’s default under the Master Lease,
this Sublease shall automatically terminate, and any obligations of Landlord to Tenant shall be
terminated.

     ARTICLE 2. SUBLEASE TERM

     2.01 Term. Unless terminated sooner as provided in this Sublease, the term of this
Sublease begins on the date of this Sublease and ends on December 31, 2011. Tenant may, at its
option, extend the term of this lease for three (3) additional lease terms of five (5) years each,
subject to all the provisions of this Lease; provided, however, that no extension of this Sublease
shall be for a term that ends after December 31, 2026, which is the last possible expiration date
of the Master Lease if all available extension options are exercised by Landlord thereunder. The
terms and conditions on which the extension options may be exercised shall be the same as those set
forth in Section 1.06 of the Master Lease; provided, however, that the written notice of exercise
shall be given not more than 395 days and not less than 210 days before the last day of the
previous Lease
Term. If Tenant exercises an extension option in accordance with this Lease, Landlord shall
exercise the applicable option to extend under the Master Lease.

     2.02 Termination. This Sublease will terminate without further notice on the earlier
of (i) when the term specified in Section 2.01, as extended, expires, and (ii) if and when
Landlord’s right, title and interest in Landlord’s Property and/or Premises are terminated; and any
holding over by Tenant after that term expires will not constitute a renewal of this Sublease or
give Tenant any rights under this Sublease in or to the Premises.

2

 

     2.03 Holdover. If Tenant holds over and continues in possession of the Premises after
the Sublease term, Tenant will be considered to be occupying the Premises at will, subject to all
the terms of this Sublease.

     2.04 Surrender of Premises. Tenant shall surrender the Premises by the end of the last
day of the Sublease term or any earlier termination date.

     ARTICLE 3. RENT

     3.01 Basic Rent. Tenant shall pay to Landlord in legal tender of the United States of
America seventy-eight percent (78%) of the Basic Rent payable by Landlord to Master Lessor from
time to time under the Master Lease, including without limitation the Basic Rent payable during any
extended lease term, without deduction and without notice or demand, and in equal quarterly
installments in advance on or before the first day of each calendar quarter, with partial periods
prorated on a daily basis.

     ARTICLE 4. COMPLIANCE WITH LAWS

     Tenant and its employees, agents and invitees shall comply with all applicable federal, state,
and local laws, rules, regulations and orders in use of the Premises. Tenant shall secure and
maintain current all required permits, licenses, certificates, and approvals relating to its use of
the Premises. Landlord shall comply with all applicable federal, state, and local laws, rules,
regulations and orders pertaining to the operation of Landlord’s Remaining Property and the
Premises to the extent reasonably necessary to enable Tenant to exercise its rights provided
hereunder.

     ARTICLE 5. DEFAULT AND REMEDIES

     5.01 Termination on Default. Except as otherwise specifically noted in this Sublease
to the contrary, if Tenant defaults in performing any covenant or term of this Sublease and does
not correct the default within thirty (30) days after receipt of written notice from Landlord to
Tenant, Landlord may declare this Sublease, and all rights and interest created by it, terminated;
provided, however, that in the event such default cannot, in the exercise of reasonable diligence,
be cured
within such thirty (30) day period, Landlord may not exercise its remedies under this Article
unless Tenant (i) fails to commence the cure of the default within such thirty (30) day period, or
(ii) thereafter fails to proceed with curative measures with reasonable diligence. If Landlord
elects to terminate, this Sublease will cease as if the day of Landlord’s election were the day
originally fixed in this Sublease for its expiration, and Landlord or its agent or attorney may
resume possession of the Premises.

     5.02 Other Remedies. Any termination of this Sublease as provided in this Article 5
will not relieve Tenant from paying any sum or sums due and payable to Landlord under this Sublease
at the time of termination, or any claim for damages then or previously accruing against Tenant
under this Sublease. Any such termination will not prevent Landlord from enforcing the payment of
any such sum or sums or claim for damages by any remedy provided for by law, or from recovering
damages from Tenant for any default under this Sublease. All Landlord’s rights, options, and
remedies under this Sublease will be construed to be cumulative, and no one of them is exclusive of
the other. Landlord may pursue any or all such remedies or any other remedy or relief provided by
law, whether or not stated in this Sublease. No waiver by Landlord of a breach of any of the
covenants or conditions of this Sublease may be construed a waiver of any succeeding or preceding
breach of the same or any other covenant or condition of this Sublease.

3

 

     ARTICLE 6. QUIET ENJOYMENT

     Landlord covenants that as long as Tenant observes the covenants and terms of this Sublease,
Tenant will lawfully and quietly hold, occupy, and enjoy the Premises during the Sublease term
without being disturbed by Landlord or any person claiming under Landlord, except for any portion
of the Premises that is taken under the power of eminent domain.

     ARTICLE 7. GENERAL PROTECTIVE PROVISIONS

     7.01 Right of Entry and Inspection. Tenant must permit Landlord or its agents,
representatives, or employees to enter the Premises at reasonable times and upon reasonable prior
notice for the purposes of inspection; determining whether Tenant is complying with this Sublease;
and maintaining, repairing, or altering the Premises in accordance with the terms hereof.

     7.02 No Partnership or Joint Venture. The relationship between Landlord and Tenant is
at all times solely that of landlord and tenant and may not be deemed a partnership or a joint
venture.

     7.03 No Waiver. No waiver by either party of any default or breach of any covenant or
term of this Sublease may be treated as a waiver of any subsequent default or breach of the same or
any other covenant or term of this Sublease.

     7.04 Release of Landlord. If Landlord transfers all or part of the Premises and as a
part of the transaction assigns its interest as Landlord in this Sublease, then as of the effective
date of the assignment or transfer, Landlord will have no further liability under this Sublease to
Tenant, except with respect to liability matters that have accrued and are unsatisfied as of that
date. Underlying this release is the parties’ intent that Landlord’s covenants and obligations
under this Sublease will bind Landlord and its successors and assigns only during and in respect of
their respective successive periods of ownership of the fee.

     ARTICLE 8. MISCELLANEOUS

     8.01 Memorandum of Sublease. The parties agree not to place this Sublease of record,
but each party shall, at the request of the other, subject to the consent rights of the Master
Lessor, execute and acknowledge so that the same may be recorded a memorandum of sublease
containing such provisions as the requesting party shall reasonably request. The requesting party
shall pay all costs, taxes, fees and other expenses in connection with or prerequisite to
recording.

     8.02 Delivery of Notices. All sums owed hereunder, notices, demands, or requests from
one party to another may be personally delivered or sent by mail, certified or registered, postage
prepaid, to the addresses stated below and are considered to have been given at the time of
personal delivery or of mailing:

4

 

	 	 	 	 	 	 	 	 	 

	If to Landlord:	 	 	 	If to Tenant:
	 

	 	Tesoro Alaska Company

19100 Ridgewood Parkway

San Antonio, Texas 78259

Attn: Michael S. Reames,

Manager, Right of Way & Land

Telecopy: (210) 745-4454
	 	 	 	 	 	Tesoro Alaska Logistics LLC

19100 Ridgewood Parkway

San Antonio, Texas 78259

Attn: Michael S. Reames,

Manager, Right of Way & Land

Telecopy: (210) 745-4454

     A party may change its address for notice under this Section 8.02 by providing notice of such
change in accordance with this Section 8.02.

     8.03 Parties Bound. This agreement binds, and inures to the benefit of, the parties
to this Sublease and their respective heirs, executors, administrators, legal representatives,
successors, and assigns.

     8.04 Governing Law. This agreement is to be construed under the internal laws of the
State of Alaska.

     8.05 Legal Construction. If any one or more of the provisions contained in this
Sublease are for any reason held to be invalid, illegal, or unenforceable in any respect, the
invalidity, illegality, or unenforceability will not affect any other provision of this Sublease,
which will be construed as if it had not included the invalid, illegal, or unenforceable provision.

     8.06 Other Agreements.

     (a). This Sublease and the other documents executed by Landlord and Tenant concurrently
herewith constitute the parties’ sole agreement with respect to the subject matter of this Sublease
and such agreements supersede any prior understandings or written or oral agreements between the
parties with respect to the subject matter of this Sublease.

     (b). In the event of any conflict between the provisions of this Sublease and the provisions
of the Master Lease, the provisions of this Sublease shall control the respective rights and
obligations of Landlord and Tenant under this Sublease.

     8.07 Amendment. No amendment, modification, or alteration of this Sublease is binding
unless in writing, dated subsequent to the date of this Sublease, and duly executed by the parties.

     8.08 Rights and Remedies Cumulative. The rights and remedies provided by this
Sublease are cumulative, and either party’s using any right or remedy will not preclude or waive
its right to use any other remedy. The rights and remedies are given in addition to any other
rights the parties may have by law, statute, ordinance, or otherwise.

     8.09 Attorney’s Fees and Costs. If, as a result of either party’s breaching this
Sublease, the other party employs an attorney to enforce its rights under this Sublease, then the
breaching or defaulting party will pay the other party the reasonable attorneys’ fees and costs
incurred to enforce this Sublease.

5

 

     8.10 Time of Essence. Time is of the essence of this Sublease.

     8.11 Further Documents. Landlord and Tenant will from time to time and at any
reasonable time execute and deliver to the other party, when the other party reasonably requests,
other instruments and assurances approving, ratifying, and confirming this Sublease and the
leasehold estate created by it and certifying that this Sublease is in full force and that no
default under this Sublease on the other party’s part exists; or if the other party is in default
specifying in such instrument each such default.

     8.12 Captions. The captions used in connection with the Articles and Sections of this
Sublease are for convenience only, and are not intended in any way to limit or amplify the meaning
of the language contained in this Sublease, or be used as interpreting the meanings and
provisions of this Sublease.

     8.13 Construction. This Sublease shall not be strictly construed against either party.

[signature page follows]

6

 

     THIS SUBLEASE has been executed by the parties on the date and year first above written.

	 	 	 	 	 
	 	LANDLORD:

TESORO ALASKA COMPANY,

a Delaware corporation

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 
	 
	 	TENANT:

TESORO ALASKA LOGISTICS LLC,

a Delaware limited liability company

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

 

[signature page to Sublease]

 

 

EXHIBIT A

Legal Description of Landlord’s Property

Said leasehold affects the following real property:

A parcel of land located within the ALASKA RAILROAD TERMINAL RESERVE, situated in the Anchorage
Recording District, Third Judicial District, State of Alaska, more particularly described as
follows:

Lots 10 and 11A of the Port of Anchorage Subdivision according to Plats Number 64-56 and 70-309,
respectively, on file in the office of the District Recorded, Anchorage Recording District, Alaska,
along with the unsubdivided lands adjacent to and Easterly of said Lots 10 and 11A. The boundaries
of said unsubdivided parcel are the East boundary line of said Lots 10 and 11A and the West
right-of-way line of the Anchorage Port Road (provided, however, there is reserved to the Railroad
a pipeline easement 40 feet wide which easement is located Westerly of and parallel and adjacent to
the West right-of-way of the aforesaid Anchorage Port Road).

A-1

 

EXHIBIT B

Legal Description of Premises

This Sublease affects the following real property:

A parcel of land located within Alaska Railroad Lease No. 4392 (recorded in Book 2267 on Page 547),
Alaska Railroad Terminal Reserve, Section 7, Township 13 North, Range 3 West, Seward Meridian,
Anchorage Recording District (A.R.D.), Third Judicial District, State of Alaska, and more
particularly described as follows:

Commencing at the Northeast corner of Lot 11A, Port of Anchorage Subdivision, Plat No. 70-309
A.R.D. marked with a 2” Aluminum Cap, being on the West Right of Way (R.O.W.) line of Anchorage
Port Road and the TRUE POINT OF BEGINNING; thence S 07°19’49” W along said West R.O.W. line a
distance of 512.65 feet; thence N 82°40’12” W a distance of 84.66 feet; thence S 58°13’21” W a
distance of 74.22 feet; thence S 18°39’42” W a distance of 24.07 feet; thence S 12°49’23” W a
distance of 223.17 feet; thence N 89°09’28” W a distance of 20.88 feet; thence N 00°48’43” W a
distance of 12.18 feet; thence N 88°41’26” W a distance of 130.57 feet to the West property line of
Lot 10, Port of Anchorage Subdivision, Plat No. 64-56 A.R.D; thence N 02°49’22” W along said West
property line being contiguous with the West Property line of said Lot 11A distance of 742.30 feet;
thence N 19°55’08” E along said West property line of Lot 11A a distance of 21.28 feet to the
Northwest corner of said Lot 11A, being on the South property line of Tract G, Port of Anchorage
Subdivision, Plat No. 2004-10 A.R.D.; thence N 89°57’53” E along the property line of said Lot 11A
and said Tract G a distance of 450.60 feet to the Northeast corner of said Lot 11A and the TRUE
POINT of BEGINNING.

Containing 258,960 Square Feet (5.945 Acres), more or Lessexv10w1

Exhibit 10.1

 

 

Published CUSIP Number: 44746FAA1

AMENDED AND RESTATED CREDIT AGREEMENT

dated as of April 14, 2011

among

HURON CONSULTING GROUP INC.,

as Borrower,

CERTAIN SUBSIDIARIES,

as Guarantors,

THE LENDERS PARTY HERETO

and

BANK OF AMERICA, N.A.,

as Administrative Agent and Collateral Agent

JPMORGAN CHASE BANK, N.A.

as Syndication Agent

PNC BANK,

HARRIS BANK and

KEY BANK NATIONAL ASSOCIATION,

as Co-Documentation Agents

MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED

and

J.P. MORGAN SECURITIES LLC

as Joint Lead Arrangers and Joint Book Managers

 

 

 

 

TABLE OF CONTENTS

	 	 	 	 	 
	Article and Section	 	Page
	ARTICLE I DEFINITIONS AND ACCOUNTING TERMS	 	1
	1.01
	 	Defined Terms	 	1
	1.02
	 	Other Interpretive Provisions	 	27
	1.03
	 	Accounting Terms; Calculation of Financial Covenants on a Pro Forma Basis	 	28
	1.04
	 	Rounding	 	29
	1.05
	 	Times of Day	 	29
	1.06
	 	Letter of Credit Amounts	 	29
	1.07
	 	Additional Alternative Currencies	 	29
	1.08
	 	Change of Currency	 	29
	1.09
	 	Exchange Rates; Currency Equivalents	 	30
	ARTICLE II COMMITMENTS AND CREDIT EXTENSIONS	 	30
	2.01
	 	Revolving Loans	 	30
	2.02
	 	Borrowings, Conversions and Continuations of Loans	 	32
	2.03
	 	Letters of Credit	 	33
	2.04
	 	Additional Provisions with respect to Swing Line Loans	 	41
	2.05
	 	Prepayments	 	43
	2.06
	 	Termination or Reduction of Aggregate Revolving Commitments.	 	45
	2.07
	 	Repayment of Loans	 	46
	2.08
	 	Interest	 	46
	2.09
	 	Fees	 	47
	2.10
	 	Computation of Interest and Fees; Retroactive Adjustments of Applicable Percentage	 	47
	2.11
	 	Evidence of Debt	 	48
	2.12
	 	Payments Generally; Administrative Agent's Clawback	 	48
	2.13
	 	Sharing of Payments by Lenders	 	50
	2.14
	 	Cash Collateral	 	51
	ARTICLE III TAXES, YIELD PROTECTION AND ILLEGALITY	 	53
	3.01
	 	Taxes	 	53
	3.02
	 	Illegality	 	57
	3.03
	 	Inability to Determine Rates	 	57
	3.04
	 	Increased Costs	 	57
	3.05
	 	Compensation for Losses	 	59
	3.06
	 	Mitigation of Obligations; Replacement of Lenders	 	59
	3.07
	 	Survival	 	60
	ARTICLE IV GUARANTY	 	60
	4.01
	 	The Guaranty	 	60
	4.02
	 	Obligations Unconditional	 	60
	4.03
	 	Reinstatement	 	61
	4.04
	 	Certain Waivers	 	61
	4.05
	 	Remedies	 	62
	4.06
	 	Rights of Contribution	 	62
	4.07
	 	Guarantee of Payment; Continuing Guarantee	 	62
	ARTICLE V CONDITIONS PRECEDENT TO CREDIT EXTENSIONS	 	62
	5.01
	 	Conditions of Effectiveness	 	62
	5.02
	 	Conditions to all Credit Extensions	 	64
	ARTICLE VI REPRESENTATIONS AND WARRANTIES	 	64
	6.01
	 	Existence, Qualification and Power	 	64
	6.02
	 	Authorization; No Contravention	 	65

 

 

	 	 	 	 	 
	Article and Section	 	Page
	6.03
	 	Governmental Authorization; Other Consents	 	65
	6.04
	 	Binding Effect	 	65
	6.05
	 	Financial Statements; No Material Adverse Effect	 	65
	6.06
	 	Litigation	 	66
	6.07
	 	No Default	 	66
	6.08
	 	Ownership of Property; Liens	 	66
	6.09
	 	Environmental Compliance	 	66
	6.10
	 	Insurance	 	67
	6.11
	 	Taxes	 	67
	6.12
	 	ERISA Compliance	 	67
	6.13
	 	Subsidiaries	 	68
	6.14
	 	Margin Regulations; Investment Company Act	 	68
	6.15
	 	Disclosure	 	68
	6.16
	 	Compliance with Laws	 	68
	6.17
	 	Intellectual Property; Licenses, Etc	 	69
	6.18
	 	Solvency	 	69
	6.19
	 	Perfection of Security Interests in the Collateral	 	69
	6.20
	 	Business Locations; Taxpayer Identification Number	 	70
	6.21
	 	Licensing and Accreditation	 	70
	6.22
	 	Labor Matters.	 	70
	ARTICLE VII AFFIRMATIVE COVENANTS	 	71
	7.01
	 	Financial Statements	 	71
	7.02
	 	Certificates; Other Information	 	71
	7.03
	 	Notices	 	73
	7.04
	 	Payment of Taxes	 	73
	7.05
	 	Preservation of Existence, Etc	 	74
	7.06
	 	Maintenance of Properties	 	74
	7.07
	 	Maintenance of Insurance	 	74
	7.08
	 	Compliance with Laws	 	74
	7.09
	 	Books and Records	 	75
	7.10
	 	Inspection Rights	 	75
	7.11
	 	Use of Proceeds	 	75
	7.12
	 	Additional Subsidiaries	 	75
	7.13
	 	Pledged Assets	 	75
	ARTICLE VIII NEGATIVE COVENANTS	 	76
	8.01
	 	Liens	 	76
	8.02
	 	Investments	 	78
	8.03
	 	Indebtedness	 	79
	8.04
	 	Fundamental Changes	 	80
	8.05
	 	Dispositions	 	80
	8.06
	 	Restricted Payments	 	81
	8.07
	 	Change in Nature of Business	 	81
	8.08
	 	Transactions with Affiliates and Insiders; Management Fees	 	81
	8.09
	 	Burdensome Agreements	 	81
	8.10
	 	Use of Proceeds	 	82
	8.11
	 	Financial Covenants	 	82
	8.12
	 	Organization Documents; Fiscal Year; Legal Name, State of Formation and	 	 
	 
	 	Form of Entity	 	82
	8.13
	 	Ownership of Subsidiaries	 	82
	ARTICLE IX EVENTS OF DEFAULT AND REMEDIES	 	82
	9.01
	 	Events of Default	 	82

 

 

	 	 	 	 	 
	Article and Section	 	Page
	9.02
	 	Remedies Upon Event of Default	 	84
	9.03
	 	Application of Funds	 	85
	ARTICLE X ADMINISTRATIVE AGENT AND COLLATERAL AGENT	 	86
	10.01
	 	Appointment and Authorization of Administrative Agent and Collateral Agent	 	86
	10.02
	 	Rights as a Lender	 	86
	10.03
	 	Exculpatory Provisions	 	87
	10.04
	 	Reliance by Administrative Agent	 	87
	10.05
	 	Delegation of Duties	 	88
	10.06
	 	Resignation of  Administrative Agent	 	88
	10.07
	 	Non-Reliance on Administrative Agent and Other Lenders	 	89
	10.08
	 	No Other Duties	 	89
	10.09
	 	Administrative Agent May File Proofs of Claim	 	89
	10.10
	 	Collateral and Guaranty Matters	 	90
	ARTICLE XI MISCELLANEOUS	 	90
	11.01
	 	Amendments, Etc	 	90
	11.02
	 	Notices; Effectiveness; Electronic Communications	 	92
	11.03
	 	No Waiver; Cumulative Remedies; Enforcement	 	94
	11.04
	 	Expenses; Indemnity; and Damage Waiver	 	94
	11.05
	 	Payments Set Aside	 	96
	11.06
	 	Successors and Assigns	 	96
	11.07
	 	Treatment of Certain Information; Confidentiality	 	100
	11.08
	 	Set-off	 	101
	11.09
	 	Interest Rate Limitation	 	101
	11.10
	 	Counterparts; Integration; Effectiveness	 	102
	11.11
	 	Survival of Representations and Warranties	 	102
	11.12
	 	Severability	 	102
	11.13
	 	Replacement of Lenders	 	102
	11.14
	 	Governing Law; Jurisdiction; Etc	 	103
	11.15
	 	Waiver of Jury Trial	 	104
	11.16
	 	No Advisory or Fiduciary Responsibility	 	104
	11.17
	 	Electronic Execution of Assignments and Certain Other Documents	 	105
	11.18
	 	Subordination of Intercompany Indebtedness	 	105
	11.19
	 	USA PATRIOT Act	 	106
	11.20
	 	Judgment Currency	 	106

 

 

SCHEDULES

	 	 	 

	Schedule 2.01

	 	Lenders and Commitments
	Schedule 2.03

	 	Existing Letters of Credit
	Schedule 6.06

	 	Litigation
	Schedule 6.13

	 	Subsidiaries
	Schedule 6.17

	 	IP Rights
	Schedule 6.20-1

	 	Business Locations
	Schedule 6.20-2

	 	Chief Executive Offices; Taxpayer Identification Numbers and Organizational
Identification Numbers
	Schedule 6.20-3

	 	Changes in Name or State of Formation; Mergers and other Changes in
Structure
	Schedule 8.01

	 	Existing Liens
	Schedule 8.02

	 	Existing Investments
	Schedule 8.03

	 	Existing Indebtedness
	Schedule 11.02

	 	Notice Addresses

EXHIBITS

	 	 	 

	Exhibit 2.01

	 	Form of Lender Joinder Agreement
	Exhibit 2.02

	 	Form of Loan Notice
	Exhibit 2.04

	 	Form of Swing Line Loan Notice
	Exhibit 2.11-1

	 	Form of Revolving Note
	Exhibit 2.11-2

	 	Form of Swing Line Note
	Exhibit 2.11-3

	 	Form of Term Loan Note
	Exhibit 7.02(b)

	 	Form of Compliance Certificate
	Exhibit 7.12

	 	Form of Guarantor Joinder Agreement
	Exhibit 11.06

	 	Form of Assignment and Assumption

 

 

CREDIT AGREEMENT

     This AMENDED AND RESTATED CREDIT AGREEMENT (the “Credit Agreement”) is entered into as
of April 14, 2011, among (i) HURON CONSULTING GROUP INC., a Delaware corporation, as Borrower; (ii)
the Subsidiaries identified herein, as Guarantors; (iii) the Lenders identified herein; and BANK OF
AMERICA, N.A., as Administrative Agent and Collateral Agent.

WITNESSETH

     WHEREAS, a $400 million revolving credit and term loan facility (the “Existing Credit
Facility”) was established pursuant to terms of that Credit Agreement dated as of June 7, 2006
(as amended and modified, the “Existing Credit Agreement”) among Huron Consulting Group
Inc., a Delaware corporation, as borrower, the lenders identified therein and Bank of America,
N.A., as Administrative Agent;

     WHEREAS, the Borrower has requested revolving credit and term loan facilities in amendment to
and restatement of the Existing Credit Facilities for the purposes set forth herein; and

     WHEREAS, the Lenders have agreed to provide the requested credit facilities on the terms and
conditions set forth herein;

     WHEREAS, this Credit Agreement is given in amendment to, restatement of and substitution for
the Existing Credit Agreement;

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

ARTICLE I

DEFINITIONS AND ACCOUNTING TERMS

     1.01 Defined Terms.

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

     “Acquisition” means, with respect to any Person, the acquisition by such Person, in a
single transaction or in a series of related transactions, of either (a) all or any substantial
portion of the property of, or a line of business, division or operating group of, another Person
or (b) at least a majority of the Equity Interests of another Person entitled to vote for members
of the board of directors or equivalent governing body of such Person, in each case whether or not
involving a merger or consolidation with such other Person.

     “Acquisition Consideration” means, with respect to any Acquisition, the aggregate cash
and non-cash consideration for such Acquisition. The “Acquisition Consideration” for any
Acquisition expressly includes Indebtedness assumed in such Acquisition and the good faith estimate
by the Borrower of the maximum amount of any deferred purchase price obligations (excluding
earn-out payments) incurred in connection with such Acquisition. The “Acquisition Consideration”
for any Acquisition expressly excludes Equity Interests of the Borrower issued to the seller as
consideration for such Acquisition.

 

 

     “Adequate Assurance” means (i) with respect to L/C Obligations, such assurance as the
L/C Issuer may require in its discretion, and (ii) with respect to Swing Line Loans, such assurance
as the Swing Line Lender may require in its discretion, in each case, that any Defaulting Lender
will be capable of honoring its obligations to fund its portion of L/C Obligations and Swing Line
Loans, as appropriate, and participation interests therein, including existing and future
obligations hereunder and under the other Loan Documents. Adequate Assurance may be in the form of
cash collateral, posting of letters of credit or other arrangement, in each case in form, amount
and other respects satisfactory to the L/C Issuer or Swing Line Lender, as applicable, in their
discretion.

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

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

     “Administrative Questionnaire” means an administrative questionnaire for the Lenders
in a form provided 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 Commitment Percentage” means, for each Lender, a fraction (expressed as a
percentage carried to the ninth decimal place), the numerator of which is the amount of such
Lender’s respective Revolving Commitment and Term Loan Commitment, and the denominator of which is
the Aggregate Commitments.

     “Aggregate Commitments” means the aggregate amount of Revolving Commitments and the
Term Loan Commitments.

     “Aggregate Revolving Commitments” means the Revolving Commitments of all the Lenders.
The amount of the Aggregate Revolving Commitments in effect on the Closing Date is One Hundred
Fifty Million Dollars ($150,000,000).

     “Aggregate Revolving Committed Amount” has the meaning provided in Section
2.01(a).

     “Alternative Currency” means each of Euro, Saudi Riyal, Sterling, Yen, Rupee and each
other currency (other than Dollars) that is approved in accordance with Section 1.07.

     “Alternative Currency Equivalent” means, at any time, with respect to any amount
denominated in Dollars, the equivalent amount thereof in the applicable Alternative Currency as
determined by the Administrative Agent or the L/C Issuer, as the case may be, at such time on the
basis of the Spot Rate (determined in respect of the most recent Revaluation Date) for the purchase
of such Alternative Currency with Dollars.

     “Alternative Currency Sublimit” means the meaning specified in Section
2.03(a). The Alternative Currency Sublimit on the Closing Date is Ten Million Dollars
($10,000,000). The Alternative Currency Sublimit is part of, and not in addition to, the Letter of
Credit Sublimit.

 

 

     “Applicable Percentage” means the following percentages per annum, based upon the
Consolidated Leverage Ratio as set forth in the most recent Compliance Certificate received by the
Administrative Agent pursuant to Section 7.02(b):

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Revolving Loans and Term Loan	 	 	 	 
	 	 	Consolidated Leverage	 	Eurodollar	 	Base Rate	 	Letter of Credit	 	Commitment
	Pricing Tier	 	Ratio	 	Rate Loans	 	Loans	 	Fee	 	Fee
	 
	5
	 	 	> 2.5:1.0	 	 	 	2.75	%	 	 	1.75	%	 	 	2.75	%	 	 	0.50	%
	4
	 	> 2.0:1.0, but ≤ 2.5:1.0	 	 	2.50	%	 	 	1.50	%	 	 	2.50	%	 	 	0.45	%
	3
	 	> 1.5:1.0, but ≤ 2.0:1.0	 	 	2.25	%	 	 	1.25	%	 	 	2.25	%	 	 	0.40	%
	2
	 	> 1.0:1.0, but ≤ 1.5:1.0	 	 	2.00	%	 	 	1.00	%	 	 	2.00	%	 	 	0.35	%
	1
	 	 	≤ 1.0:1.0	 	 	 	1.75	%	 	 	0.75	%	 	 	1.75	%	 	 	0.30	%

Any increase or decrease in the Applicable Percentage resulting from a change in the Consolidated
Leverage Ratio shall become effective as of the first Business Day immediately following the date a
Compliance Certificate is required to be delivered pursuant to Section 7.02(b);
provided, however, that if a Compliance Certificate is not delivered when due in
accordance with such Section, then, upon the request of the Required Lenders, Pricing Tier 5 shall
apply as of the first Business Day after the date on which such Compliance Certificate was required
to have been delivered and shall remain in effect until the first Business Day immediately
following the date on which such Compliance Certificate is delivered in accordance with Section
7.02(b). The Applicable Percentage in effect from the Closing Date through the first Business
Day immediately following the date a Compliance Certificate is required to be delivered pursuant to
Section 7.02(b) for the fiscal quarter ending June 30, 2011 shall be determined based upon
Pricing Tier 5. Notwithstanding anything to the contrary contained in this definition, the
determination of the Applicable Percentage for any period shall be subject to the provisions of
Section 2.10(b).

     “Applicable Time” means, with respect to any borrowings and payments in any
Alternative Currency, the local time in the place of settlement for such Alternative Currency as
may be determined by the Administrative Agent or the L/C Issuer, as the case may be, to be
necessary for timely settlement on the relevant date in accordance with normal banking procedures
in the place of payment.

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

     “Arrangers” means MLPF&S and J.P. Morgan Securities LLC, in their capacity as joint
lead arrangers and joint book managers.

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

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

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

 

 

Capital Lease, (c) in respect of any Securitization Transaction, the
outstanding principal amount of such
financing, after taking into account reserve accounts and making appropriate adjustments,
determined by the Administrative Agent in its reasonable judgment and (d) in respect of any Sale
and Leaseback Transaction, the present value (discounted in accordance with GAAP at the debt rate
implied in the applicable lease) of the obligations of the lessee for rental payments during the
term of such lease.

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

     “Availability” means an amount equal to the difference of the Aggregate Revolving
Commitments less the Total Revolving Outstandings.

     “Availability Period” means the period from and including the Closing Date to the
earlier of (a) with respect to the Revolving Commitments (other than issuance and extension of
Letters of Credit), the Maturity Date, and with respect to the issuance and extension of Letters of
Credit, the Letter of Credit Expiration Date and (b) the date of termination of the Aggregate
Revolving Commitments in accordance with the provisions hereof.

     “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 one-half of one percent (0.5%), (b) the Prime Rate and (c)
except during a Eurodollar Unavailability Period, the Eurodollar Rate plus one percent
(1.0%).

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

     “Borrower” means Huron Consulting Group Inc., a Delaware corporation, and its
successors and permitted assigns.

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

     “Borrowing” means (a) a borrowing consisting of simultaneous Loans of the same Type
and, in the case of Eurodollar Rate Loans, having the same Interest Period, or (b) a borrowing of
Swing Line Loans, as appropriate.

     “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 or any Base Rate Loan bearing interest at a rate based on the Eurodollar Rate, means any such
day that is also a London Banking Day.

     “Businesses” has the meaning specified in Section 6.09(a).

     “Capital Lease” means, as applied to any Person, any lease of any property by that
Person as lessee that is required to be accounted for as a capital lease on the balance sheet of
that Person in accordance with GAAP as in effect on the date hereof (without regard to any change
in GAAP after the date hereof).

 

 

     “Cash Collateralize” means to pledge and deposit, for the benefit of the L/C Issuer,
Swing Line Lender and the Lenders, as appropriate, as collateral for the L/C Obligations, cash or
deposit account
balances pursuant to documentation in form and substance reasonably satisfactory to the
Administrative Agent, Collateral Agent, L/C Issuer or Swing Line Lender, as appropriate.
Derivatives of such term have corresponding meanings.

     “Cash Equivalents” means, as at any date, (a) securities issued or directly and fully
guaranteed or insured by the United States or any agency or instrumentality thereof (provided that
the full faith and credit of the United States is pledged in support thereof) having maturities of
not more than twelve months from the date of acquisition, (b) Dollar denominated time deposits and
certificates of deposit of (i) any Lender, (ii) any domestic commercial bank of recognized standing
having capital and surplus in excess of $500,000,000 or (iii) any bank whose short-term commercial
paper rating from S&P is at least A-1 or the equivalent thereof or from Moody’s is at least P-1 or
the equivalent thereof (any such bank being an “Approved Bank”), in each case with
maturities of not more than one year from the date of acquisition, (c) commercial paper and
variable or fixed rate notes issued by any Approved Bank (or by the parent company thereof) or any
variable rate notes issued by, or guaranteed by, any domestic corporation rated A-1 (or the
equivalent thereof) or better by S&P or P-1 (or the equivalent thereof) or better by Moody’s and
maturing within six months of the date of acquisition, (d) repurchase agreements entered into by
any Person with a bank or trust company (including any of the Lenders) or recognized securities
dealer having capital and surplus in excess of $500,000,000 for direct obligations issued by or
fully guaranteed by the United States in which such Person shall have a perfected first priority
security interest (subject to no other Liens) and having, on the date of purchase thereof, a fair
market value of at least 100% of the amount of the repurchase obligations and (e) investments,
classified in accordance with GAAP as current assets, in money market investment programs
registered under the Investment Company Act of 1940 which are administered by reputable financial
institutions having capital of at least $500,000,000 and the portfolios of which are limited to
Investments of the character described in the foregoing subdivisions (a) through (d).

     “Change in Law” means the occurrence, after the date of this Agreement, of any of the
following: (a) the adoption or taking effect of any law, rule, regulation or treaty, (b) any change
in any law, rule, regulation or treaty or in the administration, interpretation, implementation or
application thereof by any Governmental Authority or (c) the making or issuance of any request,
rule, guideline or directive (whether or not having the force of law) by any Governmental
Authority; provided that notwithstanding anything herein to the contrary, (x) the
Dodd-Frank Wall Street Reform and Consumer Protection Act and all requests, rules, guidelines or
directives thereunder or issued in connection therewith and (y) all requests, rules, guidelines or
directives promulgated by the Bank for International settlements, the Basel Committee on Banking
Supervision (or any successor or similar authority) or the United States regulatory authorities, in
each case pursuant to Basel III, shall in each case be deemed to be a “Change in Law”, regardless
of the date enacted, adopted or issued.

     “Change of Control” means the occurrence of any of the following events: (a) Any
Person or group of Persons (within the meaning of Section 13 or 14 of the Securities Exchange Act
of 1934 (the “Act”), shall acquire beneficial ownership (within the meaning of Rule 13d-3
promulgated under such Act) of more than twenty-five percent (25%) of the outstanding securities
(on a fully diluted basis and taking into account any securities or contract rights exercisable,
exchangeable or convertible into equity securities) of the Borrower having voting rights in the
election of directors under normal circumstances; (b) a majority of the members of the Board of
Directors of the Borrower shall cease to be Continuing Members; or (c) the Borrower shall cease to,
directly or indirectly, own and control sixty-six percent (66%) of each class of the outstanding
Capital Securities of any Wholly-Owned Domestic Subsidiary. For purposes of the foregoing,
“Continuing Member” means a member of the Board of Directors of the Borrower who either (i)
was a member of the Borrower’s Board of Directors on the day before the Closing Date and has been
such continuously thereafter or (ii) became a member of such Board of Directors after the day
before the

 

 

Closing Date and whose election or nomination for election was
approved by a vote of the majority of the Continuing Members then members of the Borrower’s
Board of Directors.

     “Closing Date” means the date hereof.

     “Collateral” means a collective reference to all property with respect to which Liens
in favor of the Administrative Agent, for the benefit of itself and the other holders of the
Obligations, are purported to be granted pursuant to and in accordance with the terms of the
Collateral Documents.

     “Collateral Agent” means Bank of America in its capacity as collateral agent for the
holders of the Obligations under any of the Collateral Documents, and successors and assigns in
such capacity.

     “Collateral Documents” means a collective reference to the Security Agreement, the
Pledge Agreement and other security documents as may be executed and delivered in connection with
the attachment and perfection of, security interests granted to secure the Obligations.

     “Commitment Fee” has the meaning set forth in Section 2.09(a).

     “Commitments” means the Revolving Commitments and the Term Loan Commitments.

     “Compliance Certificate” means a certificate substantially in the form of Exhibit
7.02(b).

     “Consolidated EBITDA” means, for any period for the Borrower and its Subsidiaries, the
sum of (a) Consolidated Net Income, plus, (b) to the extent deducted in determining such
Consolidated Net Income, (i) Consolidated Interest Expense, plus (ii) taxes, plus (iii)
depreciation and amortization, plus (iv) non-cash stock and equity-based compensation expense, plus
(v) non-cash charges for goodwill impairment and impairment of other acquisition-related intangible
assets, plus (minus) (vi) non-cash charges (non-cash gains) resulting from the quarterly valuation
of acquisition-related earn-outs and other contingent assets and liabilities pursuant to Statement
of Financial Accounting Standards No. 141 (Revised) as it relates to acquisitions completed
subsequent to January 1, 2009, plus (vii) for periods ending up to and including June 30, 2010,
charges resulting from the settlement of the St. Vincent litigation in an aggregate amount up to
$4.8 million, plus (viii) for periods ending up to and including December 31, 2011, charges
resulting from the restatement of financial statements for fiscal years 2006 through 2009, net of
insurance proceeds and other amounts recouped in connection therewith, up to $8.7 million in fiscal
year 2010 and up to $8 million in fiscal year 2011, plus (ix) non-cash restructuring charges taken
in any period, provided that “Consolidated EBITDA” will be reduced in any subsequent period to the
extent that cash payment is made in respect thereof, plus (minus) (x) non cash charges (non-cash
gains) from the settlement of the shareholder class action lawsuit, plus (minus) (xi) non-cash
losses (non-cash gains) resulting from mark-to-market adjustments or losses (gains) resulting from
early termination in respect of interest rate swap and hedging agreements pursuant to Statement of
Financial Accounting Standards No. 133, without duplication for any such amounts included in
“Consolidated Interest Expense”, plus (minus) (xii) charges relating to the write-off of
capitalized costs and expenses or other non-cash losses (gains) relating to the existing senior
credit facility on its extinguishment and refinancing, without duplication or other non-cash losses
(gains) for any such amounts included in “Consolidated Interest Expense”, plus (xiii) reasonable
costs and expenses relating to acquisitions and financing transactions (other than those relating
to the existing senior credit facility), or amortization of such expense previously capitalized, of
up to $4 million in any such period, and plus (xiv) other non-recurring non-cash charges that do
not involve cash payments in future periods as may be approved by the Administrative Agent. Except
as otherwise expressly provided, the applicable period shall be the four

 

 

consecutive fiscal
quarters ending as of the date of determination. For purposes of determining the Consolidated
Leverage Ratio (including for purposes of determining the applicable pricing level for the
Applicable Percentage and for compliance with the maximum Consolidated Leverage Ratio
financial covenant), but only for such purposes, Consolidated EBITDA will be made on a Pro Forma
Basis.

     “Consolidated EBITDAR” means, for any period for the Borrower and its Subsidiaries,
the sum of (a) Consolidated EBITDA, plus (b) rent and lease expense, in each case
determined on a consolidated basis in accordance with GAAP. Except as otherwise expressly
provided, the applicable period shall be the four consecutive fiscal quarters ending as of the date
of determination.

     “Consolidated Fixed Charge Coverage Ratio” means, as of the last day of each fiscal
quarter for the period of four consecutive fiscal quarters ending on such day, the ratio of (a)
Consolidated EBITDAR to (b) Consolidated Fixed Charges.

     “Consolidated Fixed Charges” means, for any period for the Borrower and its
Subsidiaries, the sum of (a) the cash portion of Consolidated Interest Expense (excluding any
amounts paid as financing or amendment fees or expenses), plus (b) scheduled principal
payments made on Consolidated Funded Debt, plus (c) rent and lease expense in accordance
with GAAP, plus (d) the aggregate amount of Restricted Payments actually paid in cash
during the period to Persons other than the Borrower or any domestic Wholly-Owned Subsidiary, in
each case on a consolidated basis determined in accordance with GAAP. Except as otherwise
expressly provided, the applicable period shall be the four consecutive fiscal quarters ending as
of the date of determination.

     “Consolidated Funded Debt” means Funded Indebtedness of the Borrower and its
Subsidiaries determined on a consolidated basis in accordance with GAAP.

     “Consolidated Interest Expense” means, for any period for the Borrower and its
Subsidiaries, all interest expense on a consolidated basis determined in accordance with GAAP, but
including, in any event, the interest component under Capital Leases and the implied interest
component under securitization transactions. Except as expressly provided otherwise, the
applicable period shall be the four consecutive fiscal quarters ending as of the date of
determination.

     “Consolidated Leverage Ratio” means, as of the last day of each fiscal quarter, the
ratio of (i) Consolidated Funded Debt on such date, to (ii) Consolidated EBITDA for the period of
four consecutive fiscal quarters ending as of such day.

     “Consolidated Net Income” means, for any period for the Borrower and its Subsidiaries,
net income (or loss) determined on a consolidated basis in accordance with GAAP, but excluding for
purposes of determining the Consolidated Leverage Ratio and the Consolidated Fixed Charge Coverage
Ratio, any extraordinary gains or losses and related tax effects thereon. Except as otherwise
expressly provided, the applicable period shall be the four consecutive fiscal quarters ending as
of the date of determination.

     “Consolidated Net Worth” means, at any time for the Borrower and its Subsidiaries, net
worth or total shareholders’ equity determined on a consolidated basis in accordance with GAAP.

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

 

 

     “Control” means the possession, directly or indirectly, of the power to direct or
cause the direction of the management or policies of a Person, whether through the ability to
exercise voting power, by contract or otherwise. “Controlling” and “Controlled”
have meanings correlative thereto. Without limiting the generality of the foregoing, a Person shall be deemed to be Controlled by another
Person if such other Person possesses, directly or indirectly, power to vote 10% or more of the
securities having ordinary voting power for the election of directors, managing general partners or
the equivalent.

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

     “Debt Issuance” means the issuance by the Borrower or any of its Subsidiaries of any
Funded Indebtedness under Section 8.03(i) or Funded Indebtedness other than as permitted
under the other subsections of Section 8.03.

     “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 be an Event of Default.

     “Default Rate” means

     (a) in the case of the Letter of Credit Fee, an interest rate equal to the sum of (i)
the Applicable Percentage, plus (ii) two percent (2.0%) per annum;

     (b) in the case of Eurodollar Rate Loans, an interest rate equal to the sum of (i) the
Eurodollar Rate therefor, plus (ii) the Applicable Percentage, plus (ii) two percent (2.0%)
per annum;

     (c) in all other cases, including Base Rate Loans, an interest rate equal to the sum of
(i) the Base Rate, plus (ii) the Applicable Percentage, plus (iii) two percent (2.0%) per
annum.

     “Defaulting Lender” means any Lender that (a) has failed to (i) fund all or any
portion of its Loans within two Business Days of the date such Loans were required to be funded
hereunder, or (ii) pay to the Administrative Agent, the L/C Issuer, the Swing Line Lender or any
other Lender any other amount required to be paid by it hereunder (including in respect of its
participation in Letters of Credit or Swing Line Loans) within two Business Days of the date when
due, (b) has notified the Borrower, the Administrative Agent, the L/C Issuer or the Swing Line
Lender in writing that it does not intend to comply with its funding obligations hereunder, or has
made a public statement to that effect, (c) has failed, within three Business Days after written
request by the Administrative Agent or the Borrower, to confirm in writing to the Administrative
Agent and the Borrower that it will comply with its prospective funding obligations hereunder
(provided that such Lender shall cease to be a Defaulting Lender pursuant to this clause
(c) upon receipt of such written confirmation by the Administrative Agent and the Borrower), 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, or (ii) had appointed for it a receiver, custodian, conservator,
trustee, administrator, assignee for the benefit of creditors or similar Person charged with
reorganization or liquidation of its business or assets, including the Federal Deposit Insurance
Corporation or any other state or federal regulatory authority acting in such a capacity;
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 so long as such ownership interest does not result in or
provide such Lender with immunity from the jurisdiction of courts within the United States or from
the enforcement of judgments or writs of attachment on its assets or permit such
Lender (or such Governmental Authority or instrumentality) to reject, repudiate, disavow or
disaffirm any contracts or agreements made with such Lender. Any determination by the
Administrative Agent that a Lender is a Defaulting Lender under clauses (a) through (d) above shall
be conclusive and binding absent manifest error, and such Lender shall be deemed to be a Defaulting
Lender upon delivery of written notice of such determination to the Borrower, the L/C Issuer, the
Swing Line Lender and the Lenders.

     “Defaulting Lender Account” has the meaning provided in Section 2.15(a).

     “Disposition” or “Dispose” means the sale, transfer, license, lease or other
disposition of any property, including any Sale and Leaseback Transaction and any sale, assignment,
transfer or other disposal, with or without recourse, of any notes or accounts receivable or any
rights and claims associated therewith, but excluding (a) the disposition of inventory in the
ordinary course of business; (b) the disposition of an asset which is to be replaced, and is in
fact replaced, within thirty (30) days with another asset performing the same or similar function;
(c) the disposition of machinery and equipment or abandonment of intellectual property, in each
case no longer used or useful in the conduct of business in the ordinary course of business; (d)
the disposition of property to Loan Parties or their Subsidiaries; provided, that if the transferor
of such property is a Loan Party then the transferee thereof must be a Loan Party; (e) the
disposition of accounts receivable in connection with the collection or compromise thereof; (f)
licenses, sublicenses, leases or subleases granted to others not interfering in any material
respect with the normal course of business; (g) the sale or disposition of Cash Equivalents for
fair market value; and (h) any Recovery Event.

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

     “Dollar Equivalent” means, at any time, (a) with respect to any amount denominated in
Dollars, such amount, and (b) with respect to any amount denominated in any Alternative Currency,
the equivalent amount thereof in Dollars as determined by the Administrative Agent or the L/C
Issuer, as the case may be, at such time on the basis of the Spot Rate (determined in respect of
the most recent Revaluation Date) for the purchase of Dollars with such Alternative Currency.

     “Domestic Loan Party” means any Loan Party that is organized under the laws of any
State of the United States or the District of Columbia.

     “Domestic Subsidiary” means any Subsidiary that is organized under the laws of any
State of the United States or the District of Columbia.

     “Eligible Assignee” means any Person that meets the requirements to be an assignee
under Sections 11.06(b) (subject to such consents, if any, as may be required under
Section 11.06(b)(iii)).

     “EMU” means the economic and monetary union in accordance with the Treaty of Rome
1957, as amended by the Single European Act 1986, the Maastricht Treaty of 1992 and the Amsterdam
Treaty of 1998.

     “EMU Legislation” means the legislative measures of the European Council for the
introduction of, changeover to or operation of a single or unified European currency.

     “Environmental Laws” means any and all federal, state, local, foreign and other
applicable statutes, laws, regulations, ordinances, rules, judgments, orders, decrees, permits,
concessions, grants,

 

 

franchises, licenses, agreements 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
Loan Parties or any of their Subsidiaries directly or indirectly resulting from or based upon (a)
violation of any Environmental Law, (b) the generation, use, handling, transportation, storage,
treatment or disposal of any Hazardous Materials, (c) exposure to any Hazardous Materials, (d) the
release or threatened release of any Hazardous Materials into the environment or (e) any contract,
agreement or other consensual arrangement pursuant to which liability is assumed or imposed with
respect to any of the foregoing.

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

     “Equity Issuance” means any issuance by the Borrower or any of its Subsidiaries of its
Equity Interests to any Person other than an Excluded Equity Issuance. The term “Equity Issuance”
shall not be deemed to include any Disposition.

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

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

     “ERISA Event” means (a) a Reportable Event with respect to a Pension Plan; (b) the
withdrawal of a Loan Party 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 a Loan Party 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, or the institution by the PBGC of proceedings to
terminate a Pension Plan; (e) 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;
(f) 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 Internal Revenue Code or
Sections 303, 304 and 305 of ERISA; or (g) the imposition of any liability under Title IV of ERISA,
other than for PBGC premiums due but not delinquent under Section 4007 of ERISA, upon any Loan
Party or any ERISA Affiliate.

     “Euro” and “EUR” mean the lawful currency of the Participating Member States
introduced in accordance with the EMU Legislation.

 

 

     “Eurodollar Base Rate” means:

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

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

     “Eurodollar Rate” means (a) for any Interest Period with respect to any Eurodollar
Rate Loan, a rate per annum determined by the Administrative Agent to be equal to the quotient
obtained by dividing (i) the Eurodollar Base Rate for such Eurodollar Rate Loan for such Interest
Period by (ii) one minus the Eurodollar Reserve Percentage for such Eurodollar Rate Loan for such
Interest Period and (b) for any day with respect to any Base Rate Loan bearing interest at a rate
based on the Eurodollar Rate, a rate per annum determined by the Administrative Agent to be equal
to the quotient obtained by dividing (i) the Eurodollar Base Rate for such Base Rate Loan for such
day by (ii) one minus the Eurodollar Reserve Percentage for such Base Rate Loan for such day.

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

     “Eurodollar Reserve Percentage” means, for any day, the reserve percentage (expressed
as a decimal, carried out to five decimal places) in effect on such day, whether or not applicable
to any Lender, under regulations issued from time to time by the FRB for determining the maximum
reserve requirement (including any emergency, supplemental or other marginal reserve requirement)
with respect to Eurocurrency funding (currently referred to as “Eurocurrency liabilities”). The
Eurodollar Rate for each outstanding Eurodollar Rate Loan and for each outstanding Base Rate Loan
bearing interest at a rate based on the Eurodollar Rate shall be adjusted automatically as of the
effective date of any change in the Eurodollar Reserve Percentage.

     “Eurodollar Unavailability Period” means any period of time during which a notice
delivered to the Borrower in accordance with Section 3.03 shall remain in force and effect.

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

 

 

     “Excluded Equity Issuance” means (a) any issuance of Equity Interests by the Borrower
pursuant to the exercise of options or warrants; (b) any issuance of Equity Interests by the
Borrower pursuant to the conversion of any debt securities to equity or the conversion of any class
of equity securities to any other class of equity securities; (c) any issuance of options or
warrants by the Borrower relating to its Equity Interests; (d) any issuance of Equity Interests by
the Borrower as consideration (including earn-outs) for a Permitted Acquisition; and (e) any
issuance of Equity Interests by a Subsidiary to the Borrower or another Subsidiary.

     “Excluded Property” means, with respect to any Loan Party, (a) any property owned by a
Foreign Subsidiary; (b) any property to the extent the cost of obtaining security interests in such
property is determined by the Administrative Agent to be excessive in relation to the benefit to
the Lenders of the security interest in such property; (c) any leased real property; (d) any owned
real property; (e) any personal property (other than IP Rights) for which the attachment or
perfection of a Lien thereon is not governed by the Uniform Commercial Code; (f) any property
which, subject to the terms of Section 8.09, is subject to a Lien of the type described in
Section 8.01(j) pursuant to documents which prohibit such Loan Party from granting any
other Liens in such property, provided that (i) such prohibition is not rendered ineffective
pursuant to the Uniform Commercial Code or any other applicable Law (including Debtor Relief Laws)
or principles of equity and (ii) in the event of the termination, elimination or waiver of such
prohibition to the extent sufficient to permit such lease, license or other agreement to become
Collateral hereunder, thereafter such property shall not be deemed Excluded Property; (g) any
property to the extent the grant of a security interest in such property is prohibited by
applicable Law, provided that in the event of the termination, elimination or waiver of such
prohibition to the extent sufficient to permit such property to become Collateral, thereafter such
property shall not be deemed Excluded Property; (h) any lease, license or other agreement to the
extent that the grant of a security interest therein is prohibited by the terms of such lease,
license or other agreement and would violate or invalidate such lease, license or other agreement
or create a right of termination in favor of any other party thereto (other than the Borrower or
any Subsidiary), provided that (i) such prohibition is not rendered ineffective pursuant to the
Uniform Commercial Code or any other applicable Law (including Debtor Relief Laws) or principles of
equity and (ii) in the event of the termination, elimination or waiver of such prohibition to the
extent sufficient to permit such lease, license or other agreement to become Collateral hereunder,
thereafter such property shall not be deemed Excluded Property; (i) unless requested by the
Administrative Agent or the Required Lenders, any IP Rights for which a perfected Lien thereon is
not effected either by filing of a Uniform Commercial Code financing statement or by appropriate
evidence of such Lien being filed in either the United States Copyright Office or the United States
Patent and Trademark Office; and (j) the Equity Interests of any Foreign Subsidiary to the extent
not required to be pledged hereunder.

     “Excluded Taxes” means, with respect to the Administrative Agent, any Lender, the L/C
Issuer or any other recipient of any payment to be made by or on account of any obligation of the
Borrower hereunder, (a) taxes imposed on or measured by its overall net income (however
denominated), and franchise taxes imposed on it (in lieu of net income taxes), by the jurisdiction
(or any political subdivision thereof) under the Laws of which such recipient is organized or in
which its principal office is located or, in the case of any Lender, in which its applicable
Lending Office is located, (b) any branch profits taxes imposed by the United States or any similar
tax imposed by any other jurisdiction in which the Borrower is located, (c) any backup withholding
tax that is required by the Internal Revenue 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
11.13), any United States withholding tax that (i) is required to be imposed on amounts payable
to such Foreign Lender pursuant to the Laws in force at the time such Foreign Lender becomes a
party hereto (or designates a new Lending Office) or (ii) is attributable to such Foreign Lender’s
failure or inability (other than as a result of a Change in Law) to comply with clause (B) of
Section 3.01(e)(ii), except to the extent

 

 

that such Foreign Lender (or its assignor, if
any) was entitled, at the time of designation of a new Lending
Office (or assignment), to receive additional amounts from the Borrower with respect to such
withholding tax pursuant to Section 3.01(a)(ii) or (c), and (e) any Taxes imposed
on any “withholdable payment” payable to such recipient as a result of the failure of such
recipient to satisfy the applicable requirements as set forth in FATCA after December 31, 2012.

     “Existing Letters of Credit” means the letters of credit outstanding on the Closing
Date identified on Schedule 2.03.

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

     “FATCA” means Sections 1471 through 1474 of the Code and any regulations promulgated
thereunder or official interpretations thereof.

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

     “Fee Letters” means those separate letter agreements, each dated March 14, 2011, by
and between the Borrower, on the one hand, and (i) Bank of America and MLPF&S, and (ii) JPMorgan
Chase Bank, N.A. and J.P. Morgan Securities LLC, respectively, on the other hand.

     “First-Tier Foreign Subsidiary” means any Foreign Subsidiary that is owned directly by
a Domestic 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 the L/C Issuer). For purposes of this definition, the United States,
each State thereof and the District of Columbia shall be deemed to constitute a single
jurisdiction.

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

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

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

 

 

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

     “Funded 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 for borrowed money, whether current or long-term, (including the
Loan Obligations) and all obligations evidenced by bonds, debentures, notes, loan agreements
or other similar instruments;

     (b) all purchase money indebtedness;

     (c) the principal portion of all obligations under conditional sale or other title
retention agreements relating to property purchased by such Person (other than customary
reservations or retentions of title under agreements with suppliers entered into in the
ordinary course of business);

     (d) the maximum amount available to be drawn under issued and outstanding letters of
credit (including standby and commercial), bankers’ acceptances, bank guaranties, surety
bonds and similar instruments;

     (e) all obligations in respect of the deferred purchase price of property or services
(including non-contingent earn-out obligations, but not including contingent earn-out
obligations regardless of treatment under GAAP, but excluding trade accounts payable in the
ordinary course of business;

     (f) the Attributable Indebtedness of Capital Leases, Sale and Leaseback Transactions,
Synthetic Leases and Securitization Transactions;

     (g) all obligations to purchase, redeem, retire, defease or otherwise make any payment
prior to the date 181 days after the Maturity Date in respect of any Equity Interests,
valued, in the case of a redeemable preferred interest, at the greater of its voluntary or
involuntary liquidation preference plus accrued and unpaid dividends;

     (h) all Funded Indebtedness of others secured by (or for which the holder of such
Funded Indebtedness has an existing right, contingent or otherwise, to be secured by) any
Lien on, or payable out of the proceeds of production from, property owned or acquired by
such Person, whether or not the obligations secured thereby have been assumed;

     (i) all Guarantees with respect to Funded Indebtedness of the types specified in
clauses (a) through (h) above of another Person; and

     (j) all Funded Indebtedness of the types referred to in clauses (a) through (i) above
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 joint venturer,
except to the extent that Funded Indebtedness is expressly made non-recourse to such Person;

provided that in any event obligations under any Swap Contract (including the Swap
Termination Value thereof) shall not be deemed to constitute Funded Indebtedness.

 

 

     “GAAP” means generally accepted accounting principles in effect in the United States
as 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 from time to time.

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

     “Guaranteed Obligations” has the meaning provided in Section 4.01(a).

     “Guarantee” means, as to any Person, (a) any obligation, contingent or otherwise, of
such Person guaranteeing or having the economic effect of guaranteeing any Indebtedness or other
obligation payable or performable by another Person (the “primary obligor”) in any manner, whether
directly or indirectly, and including any obligation of such Person, direct or indirect, (i) to
purchase or pay (or advance or supply funds for the purchase or payment of) such Indebtedness or
other obligation, (ii) to purchase or lease property, securities or services for the purpose of
assuring the obligee in respect of such Indebtedness or other obligation of the payment or
performance of such Indebtedness or other obligation, (iii) to maintain working capital, equity
capital or any other financial statement condition or liquidity or level of income or cash flow of
the primary obligor so as to enable the primary obligor to pay such Indebtedness or other
obligation, or (iv) entered into for the purpose of assuring in any other manner the obligee in
respect of such Indebtedness or other obligation of the payment or performance thereof or to
protect such obligee against loss in respect thereof (in whole or in part), or (b) any Lien on any
assets of such Person securing any Indebtedness or other obligation of any other Person, whether or
not such Indebtedness or other obligation is assumed by such Person (or any right, contingent or
otherwise, of any holder of such Indebtedness to obtain any such Lien). The amount of any
Guarantee shall be deemed to be an amount equal to the stated or determinable amount of the related
primary obligation, or portion thereof, in respect of which such Guarantee is made or, if not
stated or determinable, the maximum reasonably anticipated liability in respect thereof as
determined by the guaranteeing Person in good faith. The term “Guarantee” as a verb has a
corresponding meaning.

     “Guarantor Joinder Agreement” means a guarantor joinder agreement substantially in the
form of Exhibit 7.12 provided in accordance with the provisions of Section 7.12(b)
or otherwise.

     “Guarantors” means (a) each Person identified on the signature pages hereto as a
“Guarantor”, (b) each other Person that becomes a Guarantor pursuant to the terms hereof and (c)
with respect to the Obligations consisting of obligations of Subsidiaries under Swap Contracts and
Treasury Management Agreements, the Borrower, in each case together with their successors and
permitted assigns.

     “Guaranty” means the guaranty provided under Article IV.

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

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

 

 

     “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 Funded Indebtedness;

     (b) the Swap Termination Value of any Swap Contract;

     (c) all obligations in respect of the deferred purchase price of property or services
(including all earn-out obligations, whether or not contingent, regardless of treatment
under GAAP, but excluding trade accounts payable in the ordinary course of business);

     (d) all Guarantees with respect to outstanding Indebtedness of the types specified in
clauses (a) and (b) above of any other Person; and

     (e) all Indebtedness of the types referred to in clauses (a) through (c) above 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 joint venturer,
unless such Indebtedness is expressly made non-recourse to such Person;

     “Indemnified Taxes” means Taxes other than Excluded Taxes.

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

     “Information” has the meaning specified in Section 11.07.

     “Intercompany Indebtedness” means any Indebtedness, whether now existing or
hereinafter incurred, owing by any Loan Party to any other Loan Party.

     “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 (including a Swing Line Loan), the last Business
Day of each March, June, September and December and the Maturity Date.

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

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

 

 

     (d) with respect to the Term Loan, no Interest Period shall extend beyond any principal
amortization date, unless the portion of such Term Loan comprised of Eurodollar Rate
Loans expiring prior to the applicable principal amortization date plus the portion
thereof comprised of Base Rate Loans equals or exceeds the principal amortization payment
then due.

     “Internal Revenue Code” means the Internal Revenue Code of 1986.

     “Investment” means, as to any Person, (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 equity participation
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 Rights” has the meaning specified in Section 6.17.

     “IRS” means the United States Internal Revenue Service.

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

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

     “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 Borrowing of
Revolving Loans.

     “L/C Commitment” means, with respect to the L/C Issuer, the commitment of the L/C
Issuer to issue and to honor payment obligations under Letters of Credit, and, with respect to each
Lender with Revolving Commitments, the commitment of such Lender to purchase participation
interests in L/C Obligations.

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

     “L/C Issuer” means Bank of America in its capacity as issuer of Letters of Credit
hereunder, together with its successors in such capacity.

 

 

     “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.

     “Lenders” means each of the Persons identified as a “Lender” on the signature pages
hereto, each other Person that becomes a “Lender” in accordance with this Agreement and their
successors and permitted assigns and, as the context requires, includes the Swing Line Lender.

     “Lender Joinder Agreement” means a joinder agreement, substantially in the form of
Exhibit 2.01, executed and delivered in accordance with the provisions of Section
2.01(c).

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

     “Letter of Credit” means (i) any Existing Letter of Credit, and (ii) any standby
letter of credit issued hereunder. Letters of Credit may be issued in Dollars or in an Alternative
Currency.

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

     “Letter of Credit Expiration Date” means the day that is seven days prior to the
Revolving Termination Date (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” has the meaning specified in Section 2.03(a). The
Letter of Credit Sublimit on the Closing Date is Twenty Million Dollars ($20,000,000).

     “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 the Revolving Loans, Swing Line Loans or Term Loan, and the Base Rate
Loans and Eurodollar Rate Loans comprising such Loans.

     “Loan Documents” means this Agreement, the Notes, the Collateral Documents, the Fee
Letters, the Issuer Documents, the Guarantor Joinder Agreements and the Lender Joinder Agreements.

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

     “Loan Obligations” means the Revolving Obligations and the Term Loan.

 

 

     “Loan Parties” means, collectively, the Borrower and the Guarantors.

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

     “Material Adverse Effect” means (a) 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 to which it is a party; (c) a material impairment of the ability of any Loan Party to
perform its obligations under any Loan Document to which it is a party; or (d) 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 First-Tier Foreign Subsidiary” means (a) Huron (UK) Limited, a UK limited
liability company, and (b) each other first-tier Foreign Subsidiary of the Borrower that, together
with its subsidiaries, represents more than 2.5% of consolidated revenues for the Borrower and its
Subsidiaries.

     “Material Indebtedness” means any Indebtedness (other than Indebtedness arising under
the Loan Documents and Indebtedness arising under Swap Contracts) having an aggregate principal
amount (including undrawn committed or available amounts and including amounts owing to all
creditors under any combined or syndicated credit arrangement) of more than $15,000,000.

     “Maturity Date” means (a) as to the Revolving Obligations, the Revolving Termination
Date, and (b) as to the Term Loan, April 14, 2016.

     “Maximum Rate” has the meaning specified in Section 11.09.

     “MLPF&S” means Merrill Lynch, Pierce, Fenner & Smith Incorporated, together with its
successors.

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

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

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

     “Net Cash Proceeds” means the aggregate cash or Cash Equivalents proceeds received by
the Borrower or any Subsidiary in respect of any Disposition, Recovery Event, Debt Issuance or
Equity Issuance net of (a) direct costs incurred in connection therewith (including, without
limitation, reasonable legal, accounting and investment banking fees, and sales commissions), (b)
taxes paid or payable as a result thereof and (c) in the case of any Disposition or any Recovery
Event, the amount necessary to retire any Indebtedness secured by a Permitted Lien (ranking senior
to any Lien of the Administrative Agent) on the related property; it being understood that “Net
Cash Proceeds” shall include, without limitation, any cash or Cash Equivalents received upon the
sale or other disposition of any non-cash consideration

 

 

received by the Borrower or any Subsidiary
in any Disposition, Recovery Event, Debt Issuance or Equity Issuance in the twelve month period
following such event.

     “Notes” means the Revolving Notes, the Swing Line Note and the Term Loan Notes.

     “Obligations” means (a) 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 or Letter of Credit, 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, (b) all obligations under any Swap Contract between the Borrower or any of its
subsidiaries, on the one hand, and any Lender or Affiliate of a Lender, on the other hand, to the
extent permitted hereunder and (c) all obligations under any Treasury Management Agreement between
the Borrower or any of its subsidiaries, on the one hand, and any Lender or Affiliate of a Lender,
on the other hand.

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

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

     “Patriot Act” has the meaning specified in Section 11.19.

     “PBGC” means the Pension Benefit Guaranty Corporation.

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

     “Pension Funding Rules” means the rules of the Internal Revenue 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 Internal Revenue Code and Section 302 of ERISA, each as in effect
prior to the Pension Act and,

 

 

thereafter, Section 412, 430, 431, 432 and 436 of the Internal
Revenue Code and Sections 302, 303, 304 and 305 of ERISA.

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

     “Permitted Acquisition” means an Investment consisting of an Acquisition by the
Borrower or any Subsidiary, provided that (a) no Default or Event of Default shall exist
immediately before or immediately after giving effect thereto on a Pro Forma Basis, (b) the
property acquired (or the property of the Person acquired) in such Acquisition is used or useful in
the same or a similar line of business as the Borrower and its Subsidiaries were engaged in on the
Closing Date (or any reasonable extensions or expansions thereof), (c) in the case of an
Acquisition of the Equity Interests of another Person, the board of directors (or other comparable
governing body) of such other Person shall have duly approved such Acquisition, (d) in the case of
any Acquisition, or series of related Acquisitions, with Acquisition Consideration in excess of $15
million the Borrower shall have delivered to the Administrative Agent a Pro Forma Compliance
Certificate demonstrating that (i) the Loan Parties will be in compliance with the financial
covenants set forth in Section 8.11 as of the end of the period of the four fiscal quarters
most recently ended for which the Borrower has delivered financial statements pursuant to
Section 7.01(a) or (b) after giving effect to such Acquisition on a Pro Forma
Basis, and (ii) until delivery of the Compliance Certificate indicating compliance with the
financial covenants for the period ending December 31, 2013, the Consolidated Leverage Ratio will
be at least 0.25:1.0 lower than (or, one quarter turn inside) the maximum ratio permitted under
Section 8.11(b) after giving effect thereto on a Pro Forma Basis, (e) the representations
and warranties made by the Loan Parties in each Loan Document shall be true and correct in all
material respects at and as if made as of the date of such Acquisition (after giving effect
thereto), (f) if such transaction involves the purchase of an interest in a partnership between any
Loan Party as a general partner and entities unaffiliated with the Borrower as the other partners,
such transaction shall be effected by having such equity interest acquired by a corporate holding
company directly or indirectly wholly-owned by such Loan Party newly formed for the sole purpose of
effecting such transaction, (g) the Acquisition Consideration for any such Acquisition, or series
of related Acquisitions, shall not exceed $50 million, and (h) the Acquisition Consideration for
all such Acquisitions occurring in any period of twelve consecutive months shall not exceed $120
million.

     “Permitted Liens” means Liens permitted pursuant to Section 8.01.

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

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

     “Platform” has the meaning specified in Section 7.02.

     “Pledge Agreement” means the pledge agreement dated as of the Closing Date given by
the Loan Parties, as pledgors, to the Collateral Agent to secure the Obligations, and any other
pledge agreements that may be given by any Person pursuant to the terms hereof, in each case as the
same may be amended and modified from time to time.

 

 

     “Prime Rate” means the rate of interest in effect for such day as publicly announced
from time to time by Bank of America as its “prime rate.” The “prime rate” is a rate set by Bank
of America based upon various factors including Bank of America’s costs and desired return, general
economic conditions and other factors, and is used as a reference point for pricing some loans,
which may be priced at, above,
or below such announced rate. Any change in the “prime rate” announced by Bank of America shall
take effect at the opening of business on the day specified in the public announcement of such
change.

     “Pro Forma Basis” means, with respect to any transaction, for purposes of determining
the Consolidated Leverage Ratio (including for purposes of determining the applicable pricing level
for the “Applicable Percentage”), that such transaction shall be deemed to have occurred as of the
first day of the period of four consecutive fiscal quarters ending as of the end of the most recent
fiscal quarter for which annual or quarterly financial statements shall have been delivered in
accordance with the provisions hereof. Further, for purposes of making calculations on a Pro Forma
Basis hereunder, (a) in the case of Dispositions and Recovery Events, (i) income and cash flow
statement items (whether positive or negative) attributable to the property, entities or business
units that are the subject thereof shall be excluded to the extent relating to any period prior to
the date of such transaction, and (ii) Funded Indebtedness paid or retired in connection therewith
shall be deemed to have been paid and retired as of the first day of the applicable period; (b) in
the case of any Acquisition, (i) income statement items (whether positive or negative) attributable
to the property, entities or business units that are the subject thereof shall be included to the
extent relating to any period prior to the date thereof and (ii) Funded Indebtedness incurred in
connection therewith shall be deemed to have been incurred as of the first day of the applicable
period (and interest expense shall be imputed for the applicable period assuming prevailing
interest rates hereunder); and (c) in the case of incurrence of Funded Indebtedness hereunder, the
Funded Indebtedness shall be deemed to have been incurred as of the first day of the applicable
period (and interest expense shall be imputed for the applicable period assuming prevailing
interest rates in respect thereof).

     “Pro Forma Compliance Certificate” means a certificate of a Responsible Officer of the
Borrower containing reasonably detailed calculations of the financial covenants set forth in
Section 8.11(b) as of the end of the period of the four fiscal quarters most recently ended
for which the Borrower has delivered financial statements pursuant to Section 7.01(a) or
(b) after giving effect to the applicable transaction on a Pro Forma Basis.

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

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

     “Recovery Event” means any loss of, damage to or destruction of, or any condemnation
or other taking for public use of, any property.

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

     “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.

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

 

 

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

     “Required Lenders” means, as of any date of determination, Lenders having more than
50% of the Aggregate Commitments or, if the Commitments shall have expired or been terminated,
Lenders holding in the aggregate more than 50% of the Loan Obligations (including, in each case,
the aggregate amount of each Lender’s risk participation and funded participation in L/C
Obligations and Swing Line Loans); provided that the commitments of, and the portion of the
Loan Obligations held or deemed held by, any Defaulting Lender shall be excluded for purposes of
making a determination of Required Lenders.

     “Required Revolving Lenders” means, as of any date of determination, Lenders having
more than 50% of the Aggregate Revolving Commitments or, if the Revolving Commitments shall have
expired or been terminated, Lenders holding in the aggregate more than 50% of the Revolving
Obligations (including, in each case, the aggregate amount of each Lender’s risk participation and
funded participation in L/C Obligations and Swing Line Loans); provided that the
commitments of, and the portion of the Revolving Obligations held or deemed held by, any Defaulting
Lender shall be excluded for purposes of making a determination of Required Revolving Lenders.

     “Responsible Officer” means, for purposes of certifying or confirming matters relating
to Organization Documents, incumbency and like matters, the secretary or assistant secretary, and
for other purposes, the chief executive officer, president, chief financial officer, treasurer or
assistant treasurer of a Loan Party. Any document delivered hereunder that is signed by a
Responsible Officer of a Loan Party shall be conclusively presumed to have been authorized by all
necessary corporate, partnership and/or other action on the part of such Loan Party and such
Responsible Officer shall be conclusively presumed to have acted on behalf of such Loan Party.

     “Restricted Payment” means (a) any dividend or other distribution (whether in cash,
securities or other property) with respect to any Equity Interests of any Person, and (b) 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 Equity Interests or on account of any return of capital to such Person’s
stockholders, partners or members (or the equivalent Person thereof), or any option, warrant or
other right to acquire any such dividend or other distribution or payment.

     “Revaluation Date” means with respect to any Letter of Credit, each of the following:
(a) each date of issuance of a Letter of Credit denominated in an Alternative Currency, (b) each
date of an amendment of any such Letter of Credit having the effect of increasing the amount
thereof (solely with respect to the increased amount), (c) each date of any payment by the L/C
Issuer under any Letter of Credit denominated in an Alternative Currency, (d) in the case of the
Existing Letters of Credit, March 31, 2011, and (e) such additional dates as the Administrative
Agent or the L/C Issuer shall determine or the Required Lenders shall require.

     “Revolving Commitment” means, for each Revolving Lender, the commitment of such Lender
to make Revolving Loans (and to share in Revolving Obligations) hereunder, and the L/C Commitment
and Swing Line Commitment thereunder.

     “Revolving Commitment Percentage” means, for each Lender with Revolving Commitments, a
fraction (expressed as a percentage carried to the ninth decimal place), the numerator of which is
such Lender’s Revolving Committed Amount and the denominator of which is Aggregate Revolving
Committed Amount. The initial Revolving Commitment Percentages are set forth on Schedule
2.01.

 

 

     “Revolving Committed Amount” means, for each Revolving Lender, the amount of such
Lender’s Revolving Commitment. The initial Revolving Committed Amounts are set out in Schedule
2.01.

     “Revolving Lenders” means those Lenders with Revolving Commitments, and their
successors and permitted assigns.

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

     “Revolving Notes” means the promissory notes, if any, given to evidence the Revolving
Loans, as amended, restated, modified, supplemented, extended, renewed or replaced. A form of
Revolving Note is attached as Exhibit 2.11-1.

     “Revolving Obligations” means the Revolving Loans, the L/C Obligations and the Swing
Line Loans.

     “Revolving Termination Date” means April 14, 2016.

     “Rupee” means the lawful currency of India.

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

     “Saudi Riyal” or “SR” means the lawful currency of Saudi Arabia.

     “Sale and Leaseback Transaction” means, with respect to any Person, any arrangement,
directly or indirectly, whereby such Person shall sell or transfer any property used or useful in
its business, whether now owned or hereafter acquired, and thereafter rent or lease such property
or other property that it intends to use for substantially the same purpose or purposes as the
property being sold or transferred.

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

     “Securitization Transaction” means, with respect to any Person, any financing
transaction or series of financing transactions (including factoring arrangements) pursuant to
which such Person or any Subsidiary or Affiliate of such Person may sell, convey or otherwise
transfer, or grant a security interest in, accounts, payments, receivables, rights to future lease
payments or residuals or similar rights to payment to a special purpose subsidiary or affiliate of
such Person.

     “Security Agreement” means the security agreement dated as of the Closing Date given
by the Loan Parties, as grantors, to the Collateral Agent to secure the Obligations, and any other
security agreements that may be given by any Person pursuant to the terms hereof, in each case as
the same may be amended and modified from time to time.

     “Solvent” or “Solvency” means, with respect to any Person as of a particular
date, that on such date (a) such Person is able to pay its debts and other liabilities, contingent
obligations and other commitments as they mature in the ordinary course of business, (b) such
Person does not intend to, and does not believe that it will, incur debts or liabilities beyond
such Person’s ability to pay such debts and liabilities as they mature in the ordinary course of
business, (c) such Person is not engaged in a business or a transaction, and is not about to engage
in a business or a transaction, for which such Person’s

 

 

property would constitute unreasonably
small capital, (d) the fair value of the property of such Person is greater than the total amount
of liabilities, including contingent liabilities, of such Person, (e) the present fair salable
value of the assets of such Person is not less than the amount that will be required to pay the
probable liability of such Person on its debts as they become absolute and matured and (f) such
Person
does not intend, in any transaction, to hinder, delay or defraud either present or future
creditors or any other person to which such Person is or will become, through such transaction,
indebted. 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.

     “Spot Rate” for a currency means the rate determined by the Administrative Agent or
the L/C Issuer, as applicable, 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 11:00 a.m. on the date two Business Days
prior to the date as of which the foreign exchange computation is made; provided that the
Administrative Agent or the L/C Issuer may obtain such spot rate from another financial institution
designated by the Administrative Agent or the L/C Issuer if the Person acting in such capacity does
not have as of the date of determination a spot buying rate for any such currency; and provided
further that the L/C Issuer may use such spot rate quoted on the date as of which the foreign
exchange computation is made in the case of any Letter of Credit denominated in an Alternative
Currency.

     “Stated Amount” means, with respect to any Letter of Credit at any date of
determination, (a) the Dollar Equivalent of the maximum aggregate amount available for drawing
thereunder under any and all circumstances plus (b) the Dollar Equivalent of the aggregate amount
of all unreimbursed payments and disbursements under such Letter of Credit.

     “Sterling” and “£” mean the lawful currency of the United Kingdom.

     “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 Equity Interests
entitled to vote for members of the board of directors or equivalent governing body at the time
beneficially owned, or the management of which is otherwise controlled, directly, or indirectly
through one or more intermediaries, or both, by such Person. Unless otherwise specified, all
references herein to a “Subsidiary” or to “Subsidiaries” shall refer to a Subsidiary or
Subsidiaries of the Borrower.

     “Swap Contract” means (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.

     “Swap Termination Value” means, in respect of any one or more Swap Contracts, after
taking into account the effect of any legally enforceable netting agreement relating to such Swap
Contracts, (a)

 

 

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

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

     “Swing Line Commitment” means, with respect to the Swing Line Lender, the commitment,
if any, of the Swing Line Lender to make Swing Line Loans, and with respect to each Lender with
Revolving Commitments, the commitment of such Lender to purchase participation interests in Swing
Line Loans.

     “Swing Line Lender” means Bank of America in its capacity as such, together with any
successor in such capacity.

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

     “Swing Line Note” means the promissory note given to evidence the Swing Line Loans, as
amended, restated, modified, supplemented, extended, renewed or replaced. A form of Swing Line
Note is attached as Exhibit 2.11-2.

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

     “Swing Line Sublimit” has the meaning specified in Section 2.04(a). The Swing
Line Sublimit on the Closing Date is Fifteen Million Dollars ($15,000,000).

     “Synthetic Lease” means any synthetic lease, tax retention operating lease,
off-balance sheet loan or similar off-balance sheet financing arrangement whereby the arrangement
is considered borrowed money indebtedness for tax purposes but is classified as an operating lease
or does not otherwise appear on a balance sheet under GAAP.

     “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.

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

     “Term Loan Commitment” means, for each Lender, the commitment of such Lender to make a
portion of the Term Loan pursuant to Section 2.01(b), in the principal amount set forth
opposite its name on Schedule 2.01; provided that at any time after funding,
determinations of “Required Lenders” shall be based on the Outstanding Amount of the Term Loan.
The aggregate principal amount of the Term Loan Commitments on the Closing Date is Two Hundred
Million Dollars ($200,000,000).

     “Term Loan Commitment Percentage” means, for each Lender with Term Loan Commitments, a
fraction (expressed as a percentage carried to the ninth decimal place), equal to (i) prior to
funding, the numerator of which is such Lender’s Term Loan Committed Amount, and the denominator is
the aggregate amount of the Term Loan Commitments, and (ii) after funding, the numerator is the
Outstanding Amount of such Lender’s Term Loan, and the denominator is the aggregate Outstanding

 

 

Amount of the Term Loan. The initial Term Loan Commitment Percentages are set forth on
Schedule 2.01.

     “Term Loan Committed Amount” means, for each Lender with Term Loan Commitments, the
amount of its Term Loan Commitment. The initial Term Loan Committed Amounts are set out in
Schedule 2.01.

     “Term Loan Notes” means the promissory notes, if any, given to evidence the Term Loan,
as amended, restated, modified, supplemented, extended, renewed or replaced. A form of Term Loan
Note is attached as Exhibit 2.11-3.

     “Total Revolving Outstandings” means the aggregate Outstanding Amount of all Revolving
Obligations.

     “Treasury Management Agreement” means any agreement governing the provision of
treasury or cash management services, including deposit accounts, overnight draft, credit cards,
debit cards, p-cards (including purchasing cards and commercial cards), funds transfer, automated
clearinghouse, zero balance accounts, returned check concentration, controlled disbursement,
lockbox, account reconciliation and reporting and trade finance services and other cash management
services.

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

     “Uniform Commercial Code” and UCC” mean the Uniform Commercial Code in effect
in any applicable jurisdiction from time to time.

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

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

     “Wholly Owned Subsidiary” of a Person means a Subsidiary in which 100% of the Equity
Interests are owned and controlled by such Person, directly or indirectly through other
Subsidiaries that are Wholly Owned Subsidiaries. Unless otherwise specified, all references herein
to “Wholly Owned Subsidiary” shall refer to a Wholly Owned Subsidiary of the Borrower.

     “Yen” and “¥” mean the lawful currency of Japan.

     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

 

 

“hereto”, “herein,”
“hereof” and “hereunder,” and words of similar import when used in any Loan
Document, shall be construed to refer to such Loan Document in its entirety and not to any
particular provision thereof, (iv) all references in a Loan Document to Articles, Sections,
Exhibits
and Schedules shall be construed to refer to Articles and Sections of, and Exhibits and
Schedules to, the Loan Document in which such references appear, (v) any reference to any
law shall include all statutory and regulatory provisions consolidating, amending, replacing
or interpreting such law and any reference to any law or regulation shall, unless otherwise
specified, refer to such law or regulation as amended, modified or supplemented from time to
time, and (vi) the words “asset” and “property” shall be construed to have
the same meaning and effect and to refer to any and all assets and properties of whatever
kind, tangible and intangible, real and personal, 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; Calculation of Financial Covenants on a Pro Forma Basis.

     (a) Generally. Except as otherwise specifically prescribed herein, all accounting
terms not specifically or completely defined herein shall be construed in conformity with, and all
financial data (including financial ratios and other financial calculations) required to be
submitted pursuant to this Agreement shall be prepared in conformity with GAAP, applied on a
consistent basis, as in effect from time to time, applied in a manner consistent with that used in
preparing the Audited Financial Statements. Notwithstanding the foregoing, for purposes of
determining compliance with any covenant (including the computation of any financial covenant)
contained herein, Indebtedness of the Borrower and its Subsidiaries shall be deemed to be carried
at 100% of the outstanding principal amount thereof, and the effects of FASB ASC 825 and FASB ASC
470-20 on financial liabilities shall be disregarded.

     (b) Changes in GAAP. The Borrower will provide a written summary of material changes
in GAAP or in the consistent application thereof with each annual and quarterly Compliance
Certificate delivered in accordance with Section 7.02(b). If any change in GAAP or in the
consistent application thereof would affect the computation of any financial covenants or other
requirements set forth herein or in any of the other Loan Documents, and either the Borrower or the
Required Lenders shall object in writing to determinations of compliance based on such changes,
then such computations shall continue to be made on a basis consistent with the most recent
financial statements delivered pursuant to Section 7.01(a) or (b) as to which no
such objection shall have been made.

     (c) Calculation of Consolidated Leverage Ratio on a Pro Forma Basis. Notwithstanding
the above, the parties hereto acknowledge and agree that all calculations of the Consolidated
Leverage Ratio (and its components) (including for purposes of determining applicable pricing level
for the Applicable Percentage) shall be made on a Pro Forma Basis giving effect to Acquisitions,
Dispositions and Recovery Events occurring during the applicable period. 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 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 (Chicago) 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 Dollar Equivalent of the stated amount of
such Letter of Credit in effect at such time; provided, however, that with respect
to any Letter of Credit that, by its terms or the terms of any Issuer Document related thereto,
provides for one or more automatic increases in the stated amount thereof, the amount of such
Letter of Credit shall be deemed to be the Dollar Equivalent of the maximum stated amount of such
Letter of Credit after giving effect to all such increases, whether or not such maximum stated
amount is in effect at such time.

     1.07 Additional Alternative Currencies.

     (a) The Borrower may from time to time request that Letters of Credit be issued in a currency
other than those specifically listed in the definition of “Alternative Currency;” provided
that such requested currency is a lawful currency (other than Dollars) that is readily available
and freely transferable and convertible into Dollars. Any such request shall be subject to the
approval of the Administrative Agent and the L/C Issuer.

     (b) Any such request shall be made to the Administrative Agent not later than 11:00 a.m.
twenty (20) Business Days prior to the date of the desired Letter of Credit issuance (or such other
time or date as may be agreed by the Administrative Agent and the L/C Issuer in their sole
discretion). In the case of any such request pertaining to Letters of Credit, the Administrative
Agent shall promptly notify the L/C Issuer thereof. The L/C Issuer shall notify the Administrative
Agent, not later than 11:00 a.m. ten (10) Business Days after receipt of such request whether it
consents, in its sole discretion, to the issuance of Letters of Credit in such requested currency.

     (c) Any failure by the L/C Issuer to respond to such request within the time period specified
in the preceding sentence shall be deemed to be a refusal by the L/C Issuer to permit Letters of
Credit to be issued in such requested currency. If the Administrative Agent and the L/C Issuer
consent to the issuance of Letters of Credit in such requested currency, the Administrative Agent
shall so notify the Borrower and such currency shall thereupon be deemed for all purposes to be an
Alternative Currency hereunder for purposes of any Letter of Credit issuances. If the
Administrative Agent shall fail to obtain consent to any request for an additional currency under
this Section 1.07, the Administrative Agent shall promptly so notify the Borrower. Any
specified currency of an Existing Letter of Credit that is neither Dollars nor one of the
Alternative Currencies specifically listed in the definition of “Alternative Currency” shall be
deemed an Alternative Currency with respect to such Existing Letter of Credit only.

     1.08 Change of Currency.

     (a) Each obligation of the Borrower to make a payment denominated in the national currency
unit of any member state of the European Union that adopts the Euro as its lawful currency after
the date hereof shall be redenominated into Euro at the time of such adoption (in accordance with
the EMU Legislation). If, in relation to the currency of any such member state, the basis of
accrual of interest expressed in this Agreement in respect of that currency shall be inconsistent
with any convention or practice in the London interbank market for the basis of accrual of interest
in respect of the Euro, such

 

 

expressed basis shall be replaced by such convention or practice with
effect from the date on which such member state adopts the Euro as its lawful currency.

     (b) Each provision of this Agreement shall be subject to such reasonable changes of
construction as the Administrative Agent may from time to time specify to be appropriate to reflect
the adoption of the Euro by any member state of the European Union and any relevant market
conventions or practices relating to the Euro.

     (c) Each provision of this Agreement also shall be subject to such reasonable changes of
construction as the Administrative Agent may from time to time specify to be appropriate to reflect
a change in currency of any other country and any relevant market conventions or practices relating
to the change in currency.

     1.09 Exchange Rates; Currency Equivalents.

     (a) The Administrative Agent or the L/C Issuer, as applicable, shall determine the Spot Rates
as of each Revaluation Date to be used for calculating Dollar Equivalent amounts of the Stated
Amount of any Letters of Credit denominated in Alternative Currencies. Such Spot Rates shall
become effective as of such Revaluation Date and shall be the Spot Rates employed in converting any
amounts between the applicable currencies until the next Revaluation Date to occur. Except for
purposes of financial statements delivered by Loan Parties hereunder or calculating financial
covenants hereunder or except as otherwise provided herein, the applicable amount of any currency
(other than Dollars) for purposes of the Loan Documents shall be such Dollar Equivalent amount as
so determined by the Administrative Agent or L/C Issuer, as applicable.

     (b) Wherever in this Agreement in connection with the issuance, amendment or extension of a
Letter of Credit, an amount, such as a required minimum or multiple amount, is expressed in
Dollars, but such Letter of Credit is denominated in an Alternative Currency, such amount shall be
the relevant Alternative Currency Equivalent of such Dollar amount (rounded to the nearest unit of
such Alternative Currency, with 0.5 of a unit being rounded upward), as determined by the
Administrative Agent or the L/C Issuer, as the case may be.

ARTICLE II

COMMITMENTS AND CREDIT EXTENSIONS

     2.01 Revolving Loans.

     (a) Revolving Commitments. Subject to the terms and conditions set forth herein,
during the Availability Period, each Lender severally agrees to make loans (each such loan a
“Revolving Loan”) to the Borrower in Dollars from time to time; provided that after
giving effect thereto, (i) Total Revolving Outstandings shall not exceed ONE HUNDRED FIFTY MILLION
DOLLARS ($150,000,000) (as such amount may be increased or decreased in accordance with the
provisions hereof, the “Aggregate Revolving Committed Amount”), and (ii) such Lender’s
Revolving Commitment Percentage of the aggregate Outstanding Amount of Total Revolving Outstandings
shall not exceed such Lender’s Revolving Committed Amount. Revolving Loans may be repaid and
reborrowed as provided herein, and may consist of Base Rate Loans, Eurodollar Rate Loans or a
combination thereof, as the Borrower may request; provided, however, that all
Borrowings made on the Closing Date will be made as Base Rate Loans.

 

 

     (b) Term Loan. Subject to the terms and conditions set forth herein, each
Lender severally agrees to make its portion of a term loan (the “Term Loan”) in an
aggregate principal amount of TWO HUNDRED MILLION DOLLARS ($200,000,000) to the Borrower in Dollars
on the Closing Date in the amount of such Lender’s Term Loan Commitment. Amounts repaid on the
Term Loan may not be reborrowed. The Term Loan may consist of Base Rate Loans or Eurodollar Rate
Loans, or a combination thereof, as further provided herein, provided, however, all
Borrowings made on the Closing Date will be made as Base Rate Loans.

     (c) Increases in Aggregate Revolving Commitments. The Borrower shall have the right,
upon at least five Business Days’ prior written notice to the Administrative Agent, to increase the
Aggregate Revolving Commitments at any time after the Closing Date, subject,
however, in any such case, to satisfaction of the following conditions precedent:

     (i) the aggregate amount of all such increases during the term of this Agreement shall
not exceed $50,000,000;

     (ii) no Default or Event of Default shall exist immediately before or immediately after
giving effect to such increase on a Pro Form Basis (assuming for purposes hereof, that the
entire amount of Revolving Commitments, as increased, is fully drawn and funded);

     (iii) the establishment of the incremental commitments and the extension of credit
thereunder are subject to satisfaction of the conditions to all Credit Extensions in
Section 5.02;

     (iv) such increase shall be in a minimum amount of $10 million and integral multiples
of $1 million in excess thereof (or such lesser amounts as the Administrative Agent may
agree);

     (v) such increase shall be effective only upon receipt by the Administrative Agent of
(x) additional Commitments in a corresponding amount of such requested increase from either
existing Lenders and/or one or more banks and other financial institutions that qualify as
Eligible Assignees (it being understood and agreed that no existing Lender shall be required
to provide an additional Commitment) and (y) documentation from each bank and financial
institution providing an additional Commitment evidencing its additional Commitment and its
obligations under this Agreement in form and substance reasonably acceptable to the
Administrative Agent;

     (vi) the Administrative Agent shall have received all documents (including resolutions
of the board of directors of the Borrower and the Guarantors) it may reasonably request
relating to the corporate or other necessary authority for such increase and the validity of
such increase and any other matters relevant thereto, all in form and substance reasonably
satisfactory to the Administrative Agent;

     (vii) the Borrower shall have delivered to the Administrative Agent a Pro Forma
Compliance Certificate demonstrating that, upon giving effect to such increase on a Pro
Forma Basis, the Loan Parties would be in compliance with the financial covenants set forth
in Section 8.11 as of the end of the period of the four fiscal quarters most
recently ended for which the Borrower has delivered financial statements pursuant to
Section 7.01(a) and (b);

     (viii) if any Eurodollar Rate Loans are outstanding at the time of such increase, the
Borrower shall prepay such Eurodollar Rate Loans or convert such Eurodollar Rate Loans to
Base Rate Loans (such prepayment or conversion to be subject to Section 3.05) as
necessary to give effect to the revised commitment amounts and percentages;

 

 

     (ix) if any Revolving Loans are outstanding at the time of such increase in the
Aggregate Revolving Commitments, payments and adjustments will be made among the Lenders as
necessary to give effect to the revised commitment amounts and percentages;

     (x) any new Lender providing loans and commitments must be reasonably acceptable to the
L/C Issuer and the Swing Line Lender; and

     (xi) lenders providing loans and commitments for such increase in the Aggregate
Revolving Commitments will provide a Lender Joinder Agreement and such other agreements
reasonably acceptable to the Administrative Agent.

Upon the effectiveness of any such increase in the Aggregate Revolving Commitments, the Revolving
Commitment Percentages of the Lenders shall be automatically adjusted to give effect to such
increase, provided that the amount of each Lender’s Revolving Commitments (other than a
Lender whose Revolving Commitments shall have been increased in connection with such increase)
shall remain unchanged.

     2.02 Borrowings, Conversions and Continuations of Loans.

     (a) Each Borrowing, each conversion of 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 11:00 a.m. (i) three Business Days prior to the requested date of any
Borrowing of, conversion to or continuation of, Eurodollar Rate Loans or of any conversion of
Eurodollar Rate Loans to Base Rate Loans, and (ii) on the requested date of any 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 Loan Notice,
appropriately completed and signed by a Responsible Officer of the Borrower. Each Borrowing of,
conversion to or continuation of Eurodollar Rate Loans shall be in a principal amount of $250,000
or a whole multiple of $250,000 in excess thereof. Except as provided in Sections 2.03(c)
and 2.04(c), each Borrowing of or conversion to Base Rate Loans shall be in a principal
amount of $150,000 or a whole multiple of $100,000 in excess thereof. Each Loan Notice (whether
telephonic or written) shall specify (i) whether the Borrower is requesting a Borrowing, a
conversion of Loans from one Type to the other, or a continuation of Eurodollar Rate Loans, (ii)
the requested date of the Borrowing, conversion or continuation, as the case may be (which shall be
a Business Day), (iii) the principal amount of Loans to be borrowed, converted or continued, (iv)
the Type of Loans to be borrowed or to which existing 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 a Loan in a Loan Notice or if the Borrower fails to give a timely notice
requesting a conversion or continuation, then the applicable Loans shall be made as, or converted
to, Base Rate Loans. Any such automatic conversion to Base Rate Loans shall be effective as of the
last day of the Interest Period then in effect with respect to the applicable Eurodollar Rate
Loans. If the Borrower requests a Borrowing of, conversion to, or continuation of Eurodollar Rate
Loans in any Loan Notice, but fails to specify an Interest Period, it will be deemed to have
specified an Interest Period of one month. Notwithstanding anything to the contrary herein, a
Swing Line Loan may not be converted to a Eurodollar Rate Loan.

     (b) Following receipt of a Loan Notice, the Administrative Agent shall promptly notify each
Lender of the amount of its pro rata share of the applicable 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 as described in the preceding
subsection. In the case of a 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 1:00
p.m. on the Business Day specified in the applicable Loan Notice. Upon satisfaction of the
applicable conditions set forth in Section 5.02 (and, if such Borrowing is the initial
Credit Extension, Section 5.01), the Administrative Agent shall make all funds so received
available to the Borrower in like funds as received by the Administrative Agent either by (i)
crediting the account of the Borrower on the books of Bank of America with the amount of such funds
or (ii) wire transfer of such funds, in each case in accordance with instructions provided to (and
reasonably acceptable to) the Administrative Agent by the Borrower; provided, however, that
if on the date the Loan Notice with respect to a Borrowing of Revolving Loans is given by the
Borrower there are L/C Borrowings outstanding, then the proceeds of such Borrowing, first,
shall be applied to the payment in full of any such L/C Borrowings, and second, shall be
made available to the Borrower as provided above.

     (c) During the existence of an Event of Default, the Borrower may continue to request the
continuation of or conversion of Loans into Eurodollar Rate Loans, unless and until the notice of
termination of this right during the existence of the Event of Default by the Required Lenders, and
on any such election by the Required Lenders, existing Eurodollar Rate Loans will be converted into
Base Rate Loans at the end of the applicable Interest Period.

     (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 the Prime Rate promptly following the
public announcement of such change.

     (e) After giving effect to all Borrowings, all conversions of Loans from one Type to the
other, and all continuations of Loans as the same Type, there shall not be more than eight (8)
Interest Periods in effect for Revolving Loans, or more than eight (8) Interest Periods in effect
for the Term Loan.

     2.03 Letters of Credit.

     (a) Letters of Credit Commitment.

     (i) Subject to the terms and conditions set forth herein, during the Availability
Period, (i) the L/C Issuer agrees, in reliance upon the agreements of the Lenders set forth
herein, (1) to issue Letters of Credit in Dollars or in one or more Alternative Currencies,
in each case containing such terms and conditions as are permitted by this Agreement and are
reasonably satisfactory to the L/C Issuer, for the account of the Borrower or any of its
Subsidiaries, (2) to amend or extend Letters of Credit previously issued hereunder, and (3)
to honor drawings under Letters of Credit; and (ii) the Lenders severally agree to
participate in Letters of Credit hereunder in an amount equal to such Lender’s Revolving
Commitment Percentage thereof; provided that (A) the Outstanding Amount of L/C
Obligations shall not exceed TWENTY MILLION DOLLARS ($20,000,000) (as such amount may be
decreased in accordance with the provisions hereof, the “Letter of Credit
Sublimit”), (B) the Outstanding Amount of L/C Obligations denominated in Alternative
Currencies shall not exceed TEN MILLION DOLLARS ($10,000,000) (the “Alternative Currency
Sublimit”), (C) the Total Revolving Outstandings shall not exceed the Aggregate
Revolving Committed Amount, and (D) such Lender’s Revolving Commitment Percentage of Total
Revolving Outstandings shall not exceed its respective Revolving Committed Amount. Each
Request 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. 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 obtain Letters of Credit to replace Letters
of Credit that have expired or that have been drawn upon and reimbursed. All Existing
Letters of Credit shall be deemed to have been issued pursuant hereto and from and after the
Closing Date shall be subject to and governed by the terms and conditions hereof.

     (ii) The L/C Issuer shall not issue any Letter of Credit if:

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

     (B) the expiry date of such requested Letter of Credit would occur after the
Revolving Termination Date, unless the Required Revolving Lenders have approved such
expiry date.

     (iii) The L/C Issuer shall not be under any obligation to issue any Letter of Credit
if:

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

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

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

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

     (E) any Lender is at such time a Defaulting Lender, unless Adequate Assurance
shall have been provided, including arrangements to eliminate the L/C Issuer’s
actual or potential Fronting Exposure (after giving effect to Section
2.15(a)(viii)) with respect to the Defaulting Lender arising from either the
Letter of Credit then proposed to be issued or that Letter of Credit and all other
L/C Obligations as to which the L/C Issuer has actual or potential Fronting
Exposure, as it may elect in its sole discretion; or

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

The L/C Issuer shall notify the Borrower promptly upon its determination that a requested
Letter of Credit will not be issued due to the application of clause (A) or (B) above.

 

 

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

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

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

     (b) Procedures for Issuance and Amendment of Letters of Credit; 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 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 L/C Issuer and the Administrative Agent not later than 11:00 a.m. at least two
Business Days (or such later date and time as the Administrative Agent and the L/C Issuer
may agree in a particular instance in their sole discretion) prior to the proposed issuance
date or date of amendment, as the case may be. In the case of a request for an initial
issuance of a Letter of Credit, such Letter of Credit Application shall specify in form and
detail reasonably satisfactory to the L/C Issuer: (A) the proposed issuance date of the
requested Letter of Credit (which shall be a Business Day); (B) the amount and currency
thereof; (C) the expiry date thereof; (D) the name and address of the beneficiary thereof;
(E) the documents to be presented by such beneficiary in case of any drawing thereunder; (F)
the full text of any certificate to be presented by such beneficiary in case of any drawing
thereunder; (G) the purpose and nature of the requested Letter of Credit; and (H) such other
matters as the L/C Issuer may reasonably require. In the case of a request for an amendment
of any outstanding Letter of Credit, such Letter of Credit Application shall specify in form
and detail reasonably satisfactory to the L/C Issuer (A) the Letter of Credit to be amended;
(B) the proposed date of amendment thereof (which shall be a Business Day); (C) the nature
of the proposed amendment; and (D) such other matters as the L/C Issuer may reasonably
require. Additionally, the Borrower shall furnish to the L/C Issuer and the Administrative
Agent such other documents and information pertaining to such requested Letter of Credit
issuance or amendment, including any Issuer Documents, as the L/C Issuer or the
Administrative Agent may reasonably require.

     (ii) Promptly after receipt of any Letter of Credit Application, the L/C Issuer will
confirm with the Administrative Agent (by telephone or in writing) that the Administrative
Agent has received a copy of such Letter of Credit Application from the Borrower and, if
not, the L/C Issuer will provide the Administrative Agent with a copy thereof. Unless the
L/C Issuer has received written notice from any Lender, the Administrative Agent or any Loan
Party, at least one

 

 

Business Day prior to the requested date of issuance or amendment of the applicable
Letter of Credit, that one or more applicable conditions contained in Article V
shall not then be satisfied, then, subject to the terms and conditions hereof, the L/C
Issuer shall, on the requested date, issue a Letter of Credit for the account of the
Borrower (or the applicable Subsidiary) or enter into the applicable amendment, as the case
may be, in each case in accordance with the L/C Issuer’s usual and customary business
practices. Immediately upon the issuance of each Letter of Credit, each Lender shall be
deemed to, and hereby irrevocably and unconditionally agrees to, purchase from the L/C
Issuer a risk participation in such Letter of Credit in an amount equal to such Lender’s
Revolving Commitment Percentage thereof.

     (iii) If the Borrower so requests in any applicable Letter of Credit Application, the
L/C Issuer may, in its sole discretion, agree to issue a Letter of Credit that has automatic
extension provisions (each, an “Auto-Extension Letter of Credit”); provided
that any such Auto-Extension Letter of Credit must permit the L/C Issuer to prevent any such
extension at least once in each twelve-month period (commencing with the date of issuance of
such Letter of Credit) by giving prior notice to the beneficiary thereof not later than a
day (the “Non-Extension Notice Date”) in each such twelve-month period to be agreed
upon at the time such Letter of Credit is issued. Unless otherwise directed by the L/C
Issuer, the Borrower shall not be required to make a specific request to the L/C Issuer for
any such extension. Once an Auto-Extension Letter of Credit has been issued, the Lenders
shall be deemed to have authorized (but may not require) the L/C Issuer to permit the
extension of such Letter of Credit at any time to an expiry date not later than the Letter
of Credit Expiration Date; provided, however, that the L/C Issuer shall not
permit any such extension if (A) the L/C Issuer has determined that it would not be
permitted, or would have no obligation, at such time to issue such Letter of Credit in its
revised form (as extended) under the terms hereof (by reason of the provisions of clause
(ii) or (iii) of Section 2.03(a) or otherwise), or (B) it has received
notice (which may be by telephone or in writing) on or before the day that is 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 5.02 is not then satisfied, and in each such case directing the L/C Issuer
not to permit such extension.

     (iv) If the Borrower so requests in any applicable Letter of Credit Application, the
L/C Issuer may, in its sole discretion, agree to issue a Letter of Credit that permits the
automatic reinstatement of all or a portion of the stated amount thereof after any drawing
thereunder (each, an “Auto-Reinstatement Letter of Credit”). Unless otherwise
directed by the L/C Issuer, the Borrower shall not be required to make a specific request to
the L/C Issuer to permit such reinstatement. Once an Auto-Reinstatement Letter of Credit
has been issued, except as provided in the following sentence, the Lenders shall be deemed
to have authorized (but may not require) the L/C Issuer to reinstate all or a portion of the
stated amount thereof in accordance with the provisions of such Letter of Credit.
Notwithstanding the foregoing, if such Auto-Reinstatement Letter of Credit permits the L/C
Issuer to decline to reinstate all or any portion of the stated amount thereof after a
drawing thereunder by giving notice of such non-reinstatement within a specified number of
days after such drawing (the “Non-Reinstatement Deadline”), the L/C Issuer shall not
permit such reinstatement if it has received a notice (which may be by telephone or in
writing) on or before the day that is seven Business Days before the Non-Reinstatement
Deadline (A) from the Administrative Agent that the Required Lenders have elected not to
permit such reinstatement or (B) from the Administrative Agent, any Lender or any Loan Party
that one or more of the applicable conditions specified in Section 5.02 is not then
satisfied (treating such reinstatement as an L/C Credit Extension for purposes of this
clause) and, in each case, directing the L/C Issuer not to permit such reinstatement.

 

 

     (v) Promptly after its delivery of any Letter of Credit or any amendment to a Letter of
Credit to an advising bank with respect thereto or to the beneficiary thereof, the 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 drawing
under such Letter of Credit, the L/C Issuer shall notify the Borrower and the Administrative
Agent thereof. Not later than 11:00 a.m. on the date of any payment by the L/C Issuer under
a Letter of Credit denominated in Dollars or the Applicable Time for Letters of Credit
denominated in Alternative Currencies (each such date, an “Honor Date”), the
Borrower shall reimburse the L/C Issuer through the Administrative Agent in an amount equal
to the amount of such drawing. In the case of a Letter of Credit denominated in an
Alternative Currency, the Borrower shall reimburse the L/C Issuer in such Alternative
Currency, unless (A) the L/C Issuer (at its option) shall have specified in such notice that
it will require reimbursement in Dollars, or (B) in the absence of any such requirement for
reimbursement in Dollars, the Borrower shall have notified the L/C Issuer promptly following
receipt of the notice of drawing that the Borrower will reimburse the L/C Issuer in Dollars.
In the case of any such reimbursement in Dollars of a drawing under a Letter of Credit
denominated in an Alternative Currency, the L/C Issuer shall notify the Borrower of the
Dollar Equivalent of the amount of the drawing promptly following the determination thereof.
If the Borrower fails to so reimburse the L/C Issuer by such time, the Administrative Agent
shall promptly notify each Lender of the Honor Date, the amount of the unreimbursed drawing
(expressed in the Dollar Equivalent thereof, the “Unreimbursed Amount”), and the
amount of such Lender’s Revolving Commitment Percentage thereof. In such event, the
Borrower shall be deemed to have requested a 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 unutilized portion of the Aggregate Revolving Commitments and the
conditions set forth in Section 5.02 (other than the delivery of a Loan Notice).
Any notice given by the L/C Issuer or the Administrative Agent pursuant to this Section
2.03(c)(i) may be given by telephone if immediately confirmed in writing;
provided that the lack of such an immediate confirmation shall not affect the
conclusiveness or binding effect of such notice. The L/C Issuer agrees, upon the request of
the Administrative Agent or any Lender, to deliver a list of outstanding Letters of Credit,
together with such information relating thereto as may be reasonably requested.

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

     (iii) With respect to any Unreimbursed Amount that is not fully refinanced by a
Borrowing of Base Rate Loans because the conditions set forth in Section 5.02 cannot
be satisfied or for any other reason, the Borrower shall be deemed to have incurred from the
L/C Issuer an L/C Borrowing in the amount of the Unreimbursed Amount that is not so
refinanced, which L/C

 

 

Borrowing shall be due and payable on demand (together with interest) and shall bear
interest at the Default Rate. In such event, each Lender’s payment to the Administrative
Agent for the account of the L/C Issuer pursuant to Section 2.03(c)(ii) shall be
deemed payment in respect of its participation in such L/C Borrowing and shall constitute an
L/C Advance from such Lender in satisfaction of its participation obligation under this
Section 2.03.

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

     (v) Each Lender’s obligation to make Revolving Loans or L/C Advances to reimburse the
L/C Issuer for amounts drawn under Letters of Credit, as contemplated by this Section
2.03(c), shall be absolute and unconditional and shall not be affected by any
circumstance, including (A) any setoff, counterclaim, recoupment, defense or other right
which such Lender may have against the L/C Issuer, the Borrower or any other Person for any
reason whatsoever; (B) the occurrence or continuance of a Default or Event of Default; or
(C) any other occurrence, event or condition, whether or not similar to any of the
foregoing; provided, however, that each Lender’s obligation to make
Revolving Loans pursuant to this Section 2.03(c) is subject to the conditions set
forth in Section 5.02 (other than delivery by the Borrower of a Loan Notice). No
such making of an L/C Advance shall relieve or otherwise impair the obligation of the
Borrower to reimburse the L/C Issuer for the amount of any payment made by the L/C Issuer
under any Letter of Credit, together with interest as provided herein.

     (vi) If any Lender fails to make available to the Administrative Agent for the account
of the L/C Issuer any amount required to be paid by such Lender pursuant to the foregoing
provisions of this Section 2.03(c) by the time specified in Section
2.03(c)(ii), then, without limiting the other provisions of this Agreement, the L/C
Issuer shall be entitled to recover from such Lender (acting through the Administrative
Agent), on demand, such amount with interest thereon for the period from the date such
payment is required to the date on which such payment is immediately available to the L/C
Issuer at a rate per annum equal to the greater of the Federal Funds Rate and a rate
determined by the L/C Issuer in accordance with banking industry rules on interbank
compensation, plus any administrative, processing or similar fees customarily charged by the
L/C Issuer in connection with the foregoing. If such Lender pays such amount (with interest
and fees as aforesaid), the amount so paid shall constitute such Lender’s Loan included in
the relevant Borrowing or L/C Advance in respect of the relevant L/C Borrowing, as the case
may be. A certificate of the L/C Issuer submitted to any Lender (through the Administrative
Agent) with respect to any amounts owing under this clause (vi) shall be conclusive
absent manifest error.

     (d) Repayment of Participations.

     (i) At any time after the L/C Issuer has made a payment under any Letter of Credit and
has received from any Lender such Lender’s L/C Advance in respect of such payment in
accordance with Section 2.03(c), if the Administrative Agent receives for the
account of the L/C Issuer any payment in respect of the related Unreimbursed Amount or
interest thereon (whether directly from the Borrower or otherwise, including proceeds of
Cash Collateral applied thereto by the Administrative Agent), the Administrative Agent will
distribute to such Lender its Revolving Commitment 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 the L/C
Issuer pursuant to Section 2.03(c)(i) is required to be returned under any of the
circumstances described in Section 11.05 (including pursuant to any settlement
entered into by the L/C Issuer in its discretion), each Lender shall pay to the
Administrative Agent for the account of the L/C Issuer its Revolving Commitment 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 L/C Issuer
for each drawing under each Letter of Credit and to repay each L/C Borrowing shall be absolute,
unconditional and irrevocable, and shall be paid strictly in accordance with the terms of this
Agreement under all circumstances, including the following:

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

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

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

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

     (v) any other circumstance or happening whatsoever, whether or not similar to any of
the foregoing, including any other circumstance that might otherwise constitute a defense
available to, or a discharge of, the Loan Parties or any of their 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 L/C Issuer. The Borrower shall be
conclusively deemed to have waived any such claim against the L/C Issuer and its correspondents
unless such notice is given as aforesaid.

     (f) Role of L/C Issuer. Each Lender and the Borrower agree that, in paying any
drawing under a Letter of Credit, the L/C Issuer shall not have any responsibility to obtain any
document (other than any sight draft, certificates and documents expressly required by such Letter
of Credit) or to

 

 

ascertain or inquire as to the validity or accuracy of any such document or the authority of
the Person executing or delivering any such document. None of the L/C Issuer, the Administrative
Agent, any of their respective Related Parties nor any correspondent, participant or assignee of
the L/C Issuer shall be liable to any Lender for (i) any action taken or omitted in connection
herewith at the request or with the approval of the Lenders or the Required Lenders, as applicable;
(ii) any action taken or omitted in the absence of gross negligence or willful misconduct; or (iii)
the due execution, effectiveness, validity or enforceability of any document or instrument related
to any Letter of Credit or Issuer Document. The 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 from pursuing such rights and remedies as it may have against the beneficiary or
transferee at law or under any other agreement. None of the L/C Issuer, the Administrative Agent,
any of their respective Related Parties nor any correspondent, participant or assignee of the L/C
Issuer shall be liable or responsible for any of the matters described in clauses (i)
through (v) of Section 2.03(e); provided, however, that anything in
such clauses to the contrary notwithstanding, the Borrower may have a claim against the L/C Issuer,
and the L/C Issuer may be liable to the Borrower, to the extent, but only to the extent, of any
direct, as opposed to consequential or exemplary, damages suffered by the Borrower which the
Borrower proves were caused by the L/C Issuer’s willful misconduct or gross negligence or the L/C
Issuer’s willful failure to pay under any Letter of Credit after the presentation to it by the
beneficiary of a sight draft and certificate(s) strictly complying with the terms and conditions of
a Letter of Credit. In furtherance and not in limitation of the foregoing, the L/C Issuer may
accept documents that appear on their face to be in order, without responsibility for further
investigation, regardless of any notice or information to the contrary, and the L/C Issuer shall
not be responsible for the validity or sufficiency of any instrument transferring or assigning or
purporting to transfer or assign a Letter of Credit or the rights or benefits thereunder or
proceeds thereof, in whole or in part, which may prove to be invalid or ineffective for any reason.

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

     (h) Letter of Credit Fee. The Borrower shall pay to the Administrative Agent for the
account of each Lender in accordance with its pro rata share a Letter of Credit fee (the
“Letter of Credit Fee”) for each Letter of Credit equal to the Applicable Percentage
times the Dollar Equivalent of 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 or other Adequate Assurance satisfactory to the L/C Issuer pursuant to
this Section 2.03 and Section 2.15 shall be payable into the Defaulting Lender
Account or, to the maximum extent permitted by applicable Law, to the other Lenders in accordance
with the upward adjustments in their respective pro rata share allocable to such Letter of Credit
pursuant to Section 2.15(a)(viii), with the balance of such fee, if any, payable to the L/C
Issuer for its own account. For purposes of computing the daily amount available to be drawn under
any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with
Section 1.06. Letter of Credit Fees shall be (i) due and payable on the last 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 Maturity Date and thereafter on demand;
and (ii) computed on a quarterly basis in arrears. If there is any change in the Applicable
Percentage during any quarter, the daily amount available to be drawn under each Letter of Credit
shall be computed and multiplied by the Applicable Percentage separately for each period during
such quarter that such Applicable Percentage was in effect. Notwithstanding anything to the
contrary contained herein, upon the occurrence and during the continuance of an Event of Default,
Letter of Credit Fees shall accrue at the Default Rate as provided herein.

 

 

     (i) Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer. The
Borrower shall pay directly to the L/C Issuer for its own account a fronting fee with respect to
each Letter of Credit, at the rate per annum specified in the Fee Letter, computed on the Dollar
Equivalent of 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 last 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 Maturity 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 L/C Issuer for its own account the
customary issuance, presentation, amendment and other processing fees, and other standard costs and
charges, of the L/C Issuer relating to letters of credit as from time to time in effect. Such
customary fees and standard costs and charges are due and payable on demand and are nonrefundable.

     (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, any Subsidiary of the Borrower, the Borrower shall be obligated to reimburse the L/C Issuer 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 any Subsidiary of the Borrower inures to the
benefit of the Borrower, and that the Borrower’s business derives substantial benefits from the
businesses of such Subsidiaries.

     2.04 Additional Provisions with respect to Swing Line Loans.

     (a) Swing Line Loans. Subject to the terms and conditions set forth herein, during
the Availability Period, the Swing Line Lender may, in its sole discretion and in reliance upon the
agreements of the other Lenders set forth herein, make loans (each such loan ,a “Swing Line
Loans”) to the Borrower in Dollars from time to time; provided that (i) the Outstanding
Amount of Swing Line Loans shall not exceed FIFTEEN MILLION DOLLARS ($15,000,000) (as such amount
may be decreased in accordance with the provisions hereof, the “Swing Line Sublimit”) and
(ii) the Outstanding Amount of Total Revolving Outstandings shall not exceed the Aggregate
Revolving Commitments. Swing Line Loans may be repaid and reborrowed as provided herein, and will
be comprised solely of Base Rate Loans. Immediately upon the making of a Swing Line Loan, each
Lender shall be deemed to, and hereby irrevocably and unconditionally agrees to, purchase from the
Swing Line Lender a risk participation in such Swing Line Loan in an amount equal to the product of
such Lender’s Revolving Commitment Percentage thereof.

     (b) Borrowing Procedures. Each Borrowing of Swing Line Loans shall be made upon the
Borrower’s irrevocable notice to the Swing Line Lender and the Administrative Agent, which may be
given by telephone. Each such notice must be received by the Swing Line Lender and the
Administrative Agent not later than 1:00 p.m. on the requested borrowing date, and shall specify
(i) the amount to be borrowed, which shall be a minimum principal amount of $100,000, and (ii) the
requested borrowing date, which shall be a Business Day. Each such telephonic notice must be
confirmed promptly by delivery to the Swing Line Lender and the Administrative Agent of a written
Swing Line Loan Notice, appropriately completed and signed by a Responsible Officer of the
Borrower. Promptly after receipt by the Swing Line Lender of any telephonic Swing Line Loan
Notice, the Swing Line Lender will confirm with the Administrative Agent (by telephone or in
writing) that the Administrative Agent has also received such Swing Line Loan Notice and, if not,
the Swing Line Lender will notify the Administrative Agent (by telephone or in writing) of the
contents thereof. Unless the Swing Line Lender has received

 

 

notice (by telephone or in writing) from the Administrative Agent (including at the request of
any Lender) prior to 2:00 p.m. on the date of the proposed Borrowing of Swing Line Loans (A)
directing the Swing Line Lender not to make such Swing Line Loan as a result of the limitations set
forth in the proviso of Section 2.04(a), or (B) that one or more of the applicable
conditions specified in Article V is not then satisfied, then, subject to the terms and
conditions hereof, the Swing Line Lender will, not later than 3:00 p.m. on the borrowing date
specified in such Swing Line Loan Notice, make the amount of its Swing Line Loan available to the
Borrower at its office by crediting the account of the Borrower on the books of the Swing Line
Lender in immediately available funds.

     (c) Refinancing of Swing Line Loans.

     (i) The Swing Line Lender at any time in its sole discretion may request, on behalf of
the Borrower (which hereby irrevocably authorizes the Swing Line Lender to so request on its
behalf), that each Lender make a Revolving Loan that is a Base Rate Loan in an amount equal
to such Lender’s Revolving Commitment Percentage of the amount of the Swing Line Loans then
outstanding. Such request shall be made in writing (which written request shall be deemed
to be a Loan Notice for purposes hereof) and in accordance with the requirements of
Section 2.02, without regard to the minimum and multiples specified therein for the
principal amount of Base Rate Loans, but subject to the unutilized portion of the Aggregate
Revolving Commitments and the conditions set forth in Section 5.02 (other than the
delivery of a Loan Notice). The Swing Line Lender shall furnish the Borrower with a copy of
the applicable Loan Notice promptly after delivering such notice to the Administrative
Agent. Each Lender shall make an amount equal to its Revolving Commitment Percentage of the
amount specified in such Loan Notice available to the Administrative Agent in immediately
available funds (and the Administrative Agent may apply Cash Collateral available with
respect to the applicable Swing Line Loan) for the account of the Swing Line Lender at the
Administrative Agent’s Office not later than 1:00 p.m. on the day specified in such Loan
Notice, whereupon, subject to Section 2.04(c)(ii), each Lender that so makes funds
available shall be deemed to have made a Revolving Loan that is a Base Rate Loan to the
Borrower in such amount. The Administrative Agent shall remit the funds so received to the
Swing Line Lender.

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

     (iii) If any Lender fails to make available to the Administrative Agent for the account
of the Swing Line Lender any amount required to be paid by such Lender pursuant to the
foregoing provisions of this Section 2.04(c) by the time specified in Section
2.04(c)(i), the Swing Line Lender shall be entitled to recover from such Lender (acting
through the Administrative Agent), on demand, such amount with interest thereon for the
period from the date such payment is required to the date on which such payment is
immediately available to the Swing Line Lender at a rate per annum equal to the greater of
the Federal Funds Rate and a rate determined by the Swing Line Lender in accordance with
banking industry rules on interbank compensation plus any administrative, processing or
similar fees customarily charged by the Swing Line Lender in connection with the foregoing.
If such Lender pays such amount (with interest and fees as aforesaid), the amount so paid
shall constitute such Lender’s Revolving Loan included in the relevant Borrowing or funded
participation in the relevant Swing Line Loan, as the case may be.

 

 

A certificate of the Swing Line Lender submitted to any Lender (through the
Administrative Agent) with respect to any amounts owing under this clause (iii)
shall be conclusive absent manifest error.

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

     (d) Repayment of Participations.

     (i) At any time after any Lender has purchased and funded a risk participation in a
Swing Line Loan, if the Swing Line Lender receives any payment on account of such Swing Line
Loan, the Swing Line Lender will distribute to such Lender its Revolving Commitment
Percentage thereof in the same funds as those received by the Swing Line Lender.

     (ii) If any payment received by the Swing Line Lender in respect of principal or
interest on any Swing Line Loan is required to be returned by the Swing Line Lender under
any of the circumstances described in Section 11.05 (including pursuant to any
settlement entered into by the Swing Line Lender in its discretion), each Lender shall pay
to the Swing Line Lender its Revolving Commitment Percentage thereof on demand of the
Administrative Agent, plus interest thereon from the date of such demand to the date such
amount is returned, at a rate per annum equal to the Federal Funds Rate. The Administrative
Agent will make such demand upon the request of the Swing Line Lender. The obligations of
the Lenders under this clause shall survive the payment in full of the Obligations and the
termination of this Agreement.

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

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

     2.05 Prepayments.

     (a) Voluntary Prepayments of Loans.

     (i) Revolving Loans and Term Loan. The Borrower may, upon notice from the
Borrower to the Administrative Agent, at any time or from time to time voluntarily prepay
Revolving Loans and the Term Loan in whole or in part without premium or penalty;
provided that (A) such notice must be received by the Administrative Agent not later
than 11:00 a.m. (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 such prepayment of
Eurodollar Rate Loans shall be in

 

 

a principal amount of $250,000 or a whole multiple of $250,000 in excess thereof (or,
if less, the entire principal amount thereof then outstanding); (C) any prepayment of Base
Rate Loans shall be in a principal amount of $150,000 or a whole multiple of $100,000 in
excess thereof (or, if less, the entire principal amount thereof then outstanding); and (D)
any prepayment of the Term Loan shall be applied ratably to the remaining principal
amortization payments. 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
pro rata share 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 Loans of the Lenders in accordance with their
respective pro rata share thereof.

     (ii) Swing Line Loans. The Borrower may, upon notice to the Swing Line Lender
(with a copy to the Administrative Agent), at any time or from time to time, voluntarily
prepay Swing Line Loans in whole or in part without premium or penalty; provided
that (i) such notice must be received by the Swing Line Lender and the Administrative Agent
not later than 1:00 p.m. on the date of the prepayment, and (ii) any such prepayment shall
be in a minimum principal amount of $100,000 (or, if less, the entire principal thereof then
outstanding). Each such notice shall specify the date and amount of such prepayment. If
such notice is given by the Borrower, the Borrower shall make such prepayment and the
payment amount specified in such notice shall be due and payable on the date specified
therein.

     (b) Mandatory Prepayments of Loans.

     (i) Revolving Commitments. If at any time (A) the Outstanding Amount of
Revolving Obligations shall exceed the Aggregate Revolving Committed Amount, (B) the
Outstanding Amount of L/C Obligations shall exceed the Letter of Credit Sublimit, or (C) the
Outstanding Amount of Swing Line Loans shall exceed the Swing Line Sublimit, immediate
prepayment will be made on or in respect of the Revolving Obligations in an amount equal to
the difference; provided, however, that, except with respect to clause (B),
L/C Obligations will not be Cash Collateralized hereunder until the Revolving Loans and
Swing Line Loans have been paid in full.

     (ii) Dispositions and Recovery Events. The Borrower shall prepay the Loans
and/or Cash Collateralize the L/C Obligations as hereafter provided in an aggregate amount
equal to 100% of the Net Cash Proceeds of any Dispositions or Recovery Event to the extent
(A) the Borrower has not executed a term sheet or letter of intent (binding or non-binding)
signed by both parties to reinvest such Net Cash Proceeds within 180 days, and has not
completed the reinvestment of such Net Cash Proceeds within 360 days, of the date of such
Disposition or Recovery Event in property that is useful in the business of the Borrower and
its Subsidiaries (it being understood that such prepayment shall be due immediately upon the
expiration of such 180-day and 360-day periods, respectively) and (B) the aggregate amount
of such Net Cash Proceeds that are not so reinvested exceeds $15 million in any fiscal year,
but prepayment is only required to the extent of such excess.

     (iii) Debt Issuances. Within two Business Days of the receipt by the Borrower
or any Subsidiary of the Net Cash Proceeds of any Debt Issuance, the Borrower shall prepay
the Loans

 

 

and/or Cash Collateralize the L/C Obligations as hereafter provided in an aggregate
amount equal to 50% of such Net Cash Proceeds.

     (iv) Equity Issuances. Within two Business Days of the receipt by the Borrower
or any Subsidiary of the Net Cash Proceeds of any Equity Issuance, the Borrower shall prepay
the Loans and/or Cash Collateralize the L/C Obligations in an aggregate amount equal to 50%
of such Net Cash Proceeds.

     (v) Application of Mandatory Prepayments. All amounts required to be paid
pursuant to this Section 2.05(b) shall be applied as follows: (A) with respect to
all amounts prepaid pursuant to Section 2.05(b)(i), first, ratably to the
L/C Borrowings and the Swing Line Loans, second, to the outstanding Revolving Loans,
and, third, to Cash Collateralize the remaining L/C Obligations; (B) with respect to
all amounts prepaid pursuant to Sections 2.05(b)(ii), (iii) and
(iv), first, to the Term Loan (ratably to the remaining principal
amortization payments) until paid in full, second, ratably to the L/C Borrowings and
the Swing Line Loans, third, to the outstanding Revolving Loans, and,
fourth, to Cash Collateralize the remaining L/C Obligations. Within the parameters
of the applications set forth above, prepayments shall be applied first to Base Rate Loans
and then to Eurodollar Rate Loans in direct order of Interest Period maturities. All
prepayments under this Section 2.05(b) shall be subject to Section 3.05, but
otherwise without premium or penalty, and shall be accompanied by interest on the principal
amount prepaid through the date of prepayment.

     (vi) Eurodollar Prepayment Account. If the Borrower is required to make a
mandatory prepayment of Eurodollar Rate Loans under this Section 2.05(b) (other than
Section 2.05(b)(i)) so long as no Event of Default exists, the Borrower shall have
the right, in lieu of making such prepayment in full, to deposit an amount equal to such
mandatory prepayment with the Administrative Agent in a cash collateral account maintained
(pursuant to documentation reasonably satisfactory to the Administrative Agent) by and in
the sole dominion and control of the Administrative Agent. Any amounts so deposited shall
be held by the Administrative Agent as collateral for the prepayment of such Eurodollar Rate
Loans and shall be applied to the prepayment of the applicable Eurodollar Rate Loans at the
end of the current Interest Periods applicable thereto or, sooner, at the election of the
Administrative Agent, upon the occurrence of an Event of Default. At the request of the
Borrower, amounts so deposited shall be invested by the Administrative Agent in Cash
Equivalents maturing on or prior to the date or dates on which it is anticipated that such
amounts will be applied to prepay such Eurodollar Rate Loans; any interest earned on such
Cash Equivalents will be for the account of the Borrower and the Borrower will deposit with
the Administrative Agent the amount of any loss on any such Cash Equivalents to the extent
necessary in order that the amount of the prepayment to be made with the deposited amounts
may not be reduced.

     2.06 Termination or Reduction of Aggregate Revolving Commitments.

     (a) Optional Reductions. The Borrower may, upon notice to the Administrative Agent,
terminate the Aggregate Revolving Commitments, or from time to time permanently reduce the
Aggregate Revolving Commitments to an amount not less than the Outstanding Amount of Revolving
Obligations; provided that (i) any such notice shall be received by the Administrative
Agent not later than 11:00 a.m. five Business Days prior to the date of termination or reduction,
(ii) any such partial reduction shall be in an aggregate amount of $5 million or any whole multiple
of $1 million in excess thereof and (iii) if, after giving effect to any reduction of the Aggregate
Revolving Commitments, the Letter of Credit Sublimit or the Swing Line Sublimit exceeds the amount
of the Aggregate Revolving Commitments, such sublimit shall be automatically reduced by the amount
of such excess. The Administrative Agent will

 

 

promptly notify the Lenders of any such notice of termination or reduction of the Aggregate
Revolving Commitments. Any reduction of the Aggregate Revolving Commitments shall be applied to
the Revolving Commitments of the Lenders ratably in accordance with their Revolving Commitment
Percentages. All fees accrued with respect thereto until the effective date of any termination of
the Aggregate Revolving Commitments shall be paid on the effective date of such termination.

     (b) Mandatory Reductions. The Aggregate Revolving Commitments shall not be
permanently reduced by amounts required to be prepaid on the Revolving Obligations pursuant to
Section 2.05(b).

     2.07 Repayment of Loans.

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

     (b) Swing Line Loans. The Borrower shall repay each Swing Line Loan on the earlier to
occur of (i) the date ten Business Days after such Swing Line Loan is made and (ii) the Maturity
Date.

     (c) Term Loan. The Borrower shall repay the outstanding principal amount of the Term
Loan in installments on the dates and in the amounts set forth in the table below (as such
installments may hereafter be adjusted as a result of prepayments made pursuant to Section
2.05), unless accelerated sooner pursuant to Section 9.02:

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Payment Date	 	Amount	 	 	Percent	 	 	Payment Date	 	 	Amount	 	 	Percent	 
	Jun 30, 2011
	 	$	3,750,000.00	 	 	 	1.875	%	 	Dec 31, 2013	 	$	6,250,000.00	 	 	 	3.125	%
	Sep 30, 2011
	 	$	3,750,000.00	 	 	 	1.875	%	 	Mar 31, 2014	 	$	6,250,000.00	 	 	 	3.125	%
	Dec 31, 2011
	 	$	3,750,000.00	 	 	 	1.875	%	 	Jun 30, 2014	 	$	6,250,000.00	 	 	 	3.125	%
	Mar 31, 2012
	 	$	3,750,000.00	 	 	 	1.875	%	 	Sep 30, 2014	 	$	6,250,000.00	 	 	 	3.125	%
	Jun 30, 2012
	 	$	5,000,000.00	 	 	 	2.500	%	 	Dec 31, 2014	 	$	6,250,000.00	 	 	 	3.125	%
	Sep 30, 2012
	 	$	5,000,000.00	 	 	 	2.500	%	 	Mar 31, 2015	 	$	6,250,000.00	 	 	 	3.125	%
	Dec 31, 2012
	 	$	5,000,000.00	 	 	 	2.500	%	 	Jun 30, 2015	 	$	7,500,000.00	 	 	 	3.750	%
	Mar 31, 2013
	 	$	5,000,000.00	 	 	 	2.500	%	 	Sep 30, 2015	 	$	7,500,000.00	 	 	 	3.750	%
	Jun 30, 2013
	 	$	6,250,000.00	 	 	 	3.125	%	 	Dec 31, 2015	 	$	7,500,000.00	 	 	 	3.750	%
	Sep 30, 2013
	 	$	6,250,000.00	 	 	 	3.125	%	 	Maturity Date	 	$	92,500,000.00	 	 	 	46.25	%
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	$	200,000,000.00	 	 	 	100.00	%

     2.08 Interest.

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

(b) (i) If any amount of principal of any Loan is not paid when due, 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, 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) During the continuance of an Event of Default under Section 9.01(f), 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) During the continuance of an Event of Default other than an Event of Default under
Section 9.01(f), the Borrower shall, at the request of the Required Lenders, 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.

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

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

     2.09 Fees. In addition to certain fees described in subsections (h) and (i) of
Section 2.03:

     (a) Commitment Fee. The Borrower shall pay to the Administrative Agent for the
account of each Lender (other than a Defaulting Lender) its pro rata share of a commitment
fee (the “Commitment Fee”) equal to the product of (i) the Applicable Percentage
times (ii) the actual daily amount by which the Aggregate Revolving Commitments exceed the
sum of (A) the Outstanding Amount of Revolving Loans plus (B) the Outstanding Amount
of L/C Obligations. The Commitment Fee shall accrue at all times during the Availability
Period, including at any time during which one or more of the conditions in Article
V is not met, and shall be due and payable quarterly in arrears on the last Business Day
of 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
Percentage during any quarter, the actual daily amount shall be computed and multiplied by
the Applicable Percentage separately for each period during such quarter that such
Applicable Percentage was in effect. For purposes of clarification, Swing Line Loans shall
not be considered outstanding for purposes of determining the unused portion of the
Aggregate Revolving Commitments.

     (b) Fee Letters. The Borrower shall pay to the Arrangers and the
Administrative Agent for their own respective accounts fees in the amounts and at the times
specified in the Fee Letters. Such fees shall be fully earned when paid and shall not be
refundable for any reason whatsoever.

     2.10 Computation of Interest and Fees; Retroactive Adjustments of Applicable
Percentage.

     (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 2.12(a), bear
interest for one day. Each determination by the Administrative Agent of an interest rate or fee
hereunder shall be conclusive and binding for all purposes, absent manifest error.

     (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 higher
pricing for such period, the Borrower shall immediately and retroactively be obligated to pay to
the Administrative Agent for the account of the applicable Lenders or the L/C Issuer, 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
the 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. This
paragraph shall not limit the rights of the Administrative Agent, any Lender or the L/C Issuer, as
the case may be, under this Agreement. The Borrower’s obligations under this paragraph shall
survive the termination of the Aggregate Revolving Commitments and the repayment of all other
Obligations hereunder.

     2.11 Evidence of Debt.

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

     (b) In addition to the accounts and records referred to in subsection (a), each Lender
and the Administrative Agent shall maintain in accordance with its usual practice accounts or
records evidencing the purchases and sales by such Lender of participations in Letters of Credit
and Swing Line Loans. In the event of any conflict between the accounts and records maintained by
the Administrative Agent and the accounts and records of any Lender in respect of such matters, the
accounts and records of the Administrative Agent shall control in the absence of manifest error.

     2.12 Payments Generally; Administrative Agent’s Clawback.

     (a) General. All payments to be made by the Borrower shall be made without condition
or deduction for any counterclaim, defense, recoupment or setoff. Except as otherwise expressly
provided herein, all payments by the Borrower hereunder shall be made to the Administrative Agent,
for the

 

 

account of the respective Lenders to which such payment is owed, at the Administrative Agent’s
Office in Dollars and in immediately available funds not later than 2:00 p.m. on the date specified
herein. The Administrative Agent will promptly distribute to each Lender its pro rata share (or
other applicable share as provided herein) of such payment in like funds as received by wire
transfer to such Lender’s Lending Office. All payments received by the Administrative Agent after
2:00 p.m. shall be deemed received on the next succeeding Business Day and any applicable interest
or fee shall continue to accrue. If any payment to be made by the Borrower shall come due on a day
other than a Business Day, payment shall be made on the next following Business Day, and such
extension of time shall be reflected in computing interest or fees, as the case may be.

     (b) (i) Funding by Lenders; Presumption by Administrative Agent. Unless the
Administrative Agent shall have received notice from a Lender prior to the proposed date of
any Borrowing of Eurodollar Rate Loans (or, in the case of any Borrowing of Base Rate Loans,
prior to 12:00 noon on the date of such Borrowing) that such Lender will not make available
to the Administrative Agent such Lender’s share of such Borrowing, the Administrative Agent
may assume that such Lender has made such share available on such date in accordance with
Section 2.02 (or, in the case of a 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 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 Borrowing to the Administrative Agent, then the amount so paid shall constitute
such Lender’s Loan included in such Borrowing. Any payment by the Borrower shall be without
prejudice to any claim the Borrower may have against a Lender that shall have failed to make
such payment to the Administrative Agent.

     (ii) Payments by Borrower; Presumptions by Administrative Agent. Unless the
Administrative Agent shall have received notice from the Borrower prior to the date on which
any payment is due to the Administrative Agent for the account of the Lenders or the 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 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 L/C Issuer, as the case may be, severally agrees to repay to
the Administrative Agent forthwith on demand the amount so distributed to such Lender or the
L/C Issuer, in immediately available funds with interest thereon, for each day from and
including the date such amount is distributed to it to but excluding the date of payment to
the Administrative Agent, at the greater of the Federal Funds Rate and a rate determined by
the Administrative Agent in accordance with banking industry rules on interbank
compensation.

 

 

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

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

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

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

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

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

     (ii) the provisions of this Section shall not be construed to apply to (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) any amounts applied by the Swing Line Lender to outstanding Swing
Line Loans, (C) any amounts applied to L/C Obligations by the L/C Issuer or Swing Line Loans
by the Swing Line Lender, as appropriate, from cash collateral or other Adequate Assurance
provided under Section 2.15, or (D) 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 or Swing Line Loans to any assignee or participant,
other than an assignment to the Borrower or any Subsidiary (as to which the provisions of
this Section shall apply).

Each Loan Party consents to the foregoing and agrees, to the extent it may effectively do so under
applicable law, that any Lender acquiring a participation pursuant to the foregoing arrangements
may

 

 

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

     2.14 Cash Collateral.

     (a) Certain Credit Support Events. Upon the request of the Administrative Agent or
the L/C Issuer (i) if the L/C Issuer has honored any full or partial drawing request under any
Letter of Credit and such drawing has resulted in an L/C Borrowing, or (ii) if, as of the Maturity
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, the L/C Issuer or the Swing Line Lender, the Borrower shall deliver to the Administrative
Agent Cash Collateral in an amount sufficient to cover all Fronting Exposure (after giving effect
to Section 2.15(a)(iv) and any Cash Collateral provided by the Defaulting Lender).

     (b) Grant of Security Interest. All Cash Collateral (other than credit support not
constituting funds subject to deposit) shall be maintained in blocked, non-interest bearing deposit
accounts at Bank of America. The Borrower, and to the extent provided by any Lender, such Lender,
hereby grants to (and subjects to the control of) the Administrative Agent, for the benefit of the
Administrative Agent, the L/C Issuer and the Lenders (including the Swing Line Lender), 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 9.02 in respect of Letters of Credit
or Swing Line Loans shall be held and applied to the satisfaction of the specific L/C Obligations,
Swing Line Loans, obligations to fund participations therein (including, as to Cash Collateral
provided by a Defaulting Lender, any interest accrued on such obligation) and other obligations for
which the Cash Collateral was so provided, prior to any other application of such property as may
be provided for herein.

     (d) Release. Cash Collateral (or the appropriate portion thereof) provided to reduce
Fronting Exposure or other obligations shall be released promptly following (i) the elimination of
the applicable Fronting Exposure or other obligations giving rise thereto (including by the
termination of Defaulting Lender status of the applicable Lender (or, as appropriate, its assignee
following compliance with Section 11.06(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 an Event of Default (and following application as provided in this Section
2.14 may be otherwise applied in accordance with Section 9.03), and (y) the Person
providing Cash Collateral and the L/C Issuer or Swing Line Lender, as applicable, may agree that
Cash Collateral shall not be released but instead held to support future anticipated Fronting
Exposure or other obligations.

     2.15 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 such Lender is no
longer a Defaulting Lender, to the extent permitted by applicable Law:

     (i) the L/C Issuer may require the Borrower or Defaulting Lender to provide Adequate
Assurance with regard to any Fronting Exposure, which may include cash collateral, for the
Defaulting Lender’s share of the L/C Obligations as a condition to the issuance, extension,
renewal or increase of Letters of Credit;

     (ii) the Swing Line Lender may require the Borrower or Defaulting Lender to provide
Adequate Assurance with regard to any Fronting Exposure, which may include cash collateral,
for the Defaulting Lender’s share of Swing Line Loans as a condition to the making or
extension of Swing Line Loans;

     (iii) the Defaulting Lender shall not be entitled to vote, or participate in
amendments, waivers or consents hereunder or in respect of the other Loan Documents, except
as may be expressly provided herein;

     (iv) the Defaulting Lender may be replaced and its interests assigned as provided in
Section 11.13;

     (v) all payments of principal, interest and other amounts owing to a Defaulting Lender
will be paid into an account or subaccount with the Administrative Agent (collectively, the
“Defaulting Lender Account”) to secure the Defaulting Lender’s obligations under
this Agreement. Amounts held in the Defaulting Lender Account shall be applied at such time
or times as may be determined by the Administrative Agent as follows: first, to the payment
of any amounts owing by that Defaulting Lender to the Administrative Agent hereunder;
second, to the payment on a pro rata basis of any amounts owing by that Defaulting Lender to
the L/C Issuer or Swing Line Lender hereunder; third, if so determined by the Administrative
Agent or requested by the L/C Issuer or Swing Line Lender, to be held as Cash Collateral for
future funding obligations of that Defaulting Lender of any participation in any Swing Line
Loan or Letter of Credit; fourth, as the Borrower may request (so long as no Event of
Default exists), to the funding of any Loan in respect of which that Defaulting Lender has
failed to fund its portion thereof as required by this Agreement, as determined by the
Administrative Agent; fifth, if so determined by the Administrative Agent and the Borrower,
to be held in a non-interest bearing deposit account and released in order to satisfy
obligations of that Defaulting Lender to fund Loans under this Agreement; sixth, to the
payment of any amounts owing to the Lenders, the L/C Issuer or Swing Line Lender as a result
of any judgment of a court of competent jurisdiction obtained by any Lender, the L/C Issuer
or Swing Line Lender against that Defaulting Lender as a result of that Defaulting Lender’s
breach of its obligations under this Agreement; seventh, so long as no 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 5.02 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;

     (vi) the Defaulting Lender shall not be entitled to receive any commitment fee,
facility fee, letter of credit fee or other fees hereunder (and the Borrower shall not be
required to pay any such fees);

     (vii) so long as no Event of Default shall exist immediately before or immediately
after giving effect thereto, the Borrower may, with the consent of the Administrative Agent
(which consent will not be unreasonably withheld or delayed), elect to terminate the
commitments of the Defaulting Lender, and repay its share of outstanding Loan Obligations,
on a non-pro rata basis.

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

     (b) Defaulting Lender Cure. If the Borrower, the Administrative Agent, Swing Line
Lender and the L/C Issuer agree in writing in their sole discretion that a Defaulting Lender should
no longer be deemed to be a Defaulting Lender, the Administrative Agent will so notify the parties
hereto, whereupon as of the effective date specified in such notice and subject to any conditions
set forth therein (which may include arrangements with respect to any Cash Collateral), that Lender
will, to the extent applicable, purchase that portion of outstanding Loans of the other Lenders or
take such other actions as the Administrative Agent may determine to be necessary to cause the
Loans and funded and unfunded participations in Letters of Credit and Swing Line Loans to be held
on a pro rata basis by the Lenders in accordance with their Revolving Commitment 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 Loan Parties hereunder or under any
other Loan Document shall to the extent permitted by applicable Laws be made free and clear of and
without

 

 

reduction or withholding for any Taxes. If, however, applicable Laws require any Loan Party
or the Administrative Agent to withhold or deduct any Tax, such Tax shall be withheld or deducted
in accordance with such Laws as determined by such Loan Party or the Administrative Agent, as the
case may be, upon the basis of the information and documentation to be delivered pursuant to
subsection (e) below.

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

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

     (c) Tax Indemnification.

     (i) Without limiting the provisions of subsection (a) or (b) above, the Loan Parties
shall, and do hereby, indemnify the Administrative Agent, each Lender and the L/C Issuer,
and shall make payment in respect thereof within ten 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 Loan Parties or the Administrative Agent or paid by the Administrative
Agent, such Lender or the L/C Issuer, as the case may be, and any penalties, interest and
reasonable expenses arising therefrom or with respect thereto, whether or not such
Indemnified Taxes or Other Taxes were correctly or legally imposed or asserted by the
relevant Governmental Authority. The Loan Parties shall also, and do hereby, indemnify the
Administrative Agent, and shall make payment in respect thereof within ten days after demand
therefor, for any amount which a Lender or the 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 the L/C Issuer (with a copy to the Administrative Agent), or by the Administrative
Agent on its own behalf or on behalf of a Lender or the L/C Issuer, shall be conclusive
absent manifest error.

     (ii) Without limiting the provisions of subsection (a) or (b) above, each Lender and
the L/C Issuer shall, and does hereby, indemnify each Loan Party and the Administrative
Agent, and shall make payment in respect thereof within ten 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 such
Loan Party or the Administrative Agent) incurred by or asserted against such Loan Party or
the Administrative Agent by any Governmental Authority as a result of the failure by such
Lender or the L/C Issuer, as the case may be, to deliver, or as a result of the inaccuracy,
inadequacy or deficiency of, any documentation required to be delivered by such Lender or
the L/C Issuer, as the case may be, to

 

 

such Loan Party or the Administrative Agent pursuant to subsection (e). Each Lender
and the 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 the L/C Issuer, as the case may be, under
this Agreement or any other Loan Document against any amount due to the Administrative Agent
under this clause (ii). The agreements in this clause (ii) shall survive the resignation
and/or replacement of the Administrative Agent, any assignment of rights by, or the
replacement of, a Lender or the L/C Issuer, the termination of the 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 any Loan Party or by the Administrative Agent to
a Governmental Authority as provided in this Section 3.01, the Borrower shall deliver (or
cause the applicable Loan Party to 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 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 shall deliver to the Borrower and to the Administrative Agent, at the
time or times prescribed by applicable Laws or when reasonably requested by the Borrower or
the Administrative Agent, such properly completed and executed documentation prescribed by
applicable Laws or by the taxing authorities of any jurisdiction and such other reasonably
requested information as will permit the Borrower or the Administrative Agent, as the case
may be, to determine (A) whether or not payments made hereunder or under any other Loan
Document are subject to Taxes, (B) if applicable, the required rate of withholding or
deduction, and (C) such Lender’s entitlement to any available exemption from, or reduction
of, applicable Taxes in respect of all payments to be made to such Lender by the Borrower
pursuant to this Agreement or otherwise to establish such Lender’s status for withholding
tax purposes in the applicable jurisdiction.

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

     (A) any Lender that is a “United States person” within the meaning of Section
7701(a)(30) of the Internal Revenue Code shall deliver to the Borrower and the
Administrative Agent executed originals of Internal Revenue Service Form W-9 or such
other documentation or information prescribed by applicable Laws or reasonably
requested by the Borrower or the Administrative Agent as will enable the Borrower or
the Administrative Agent, as the case may be, to determine whether or not such
Lender is subject to backup withholding or information reporting requirements; and

     (B) each Foreign Lender that is entitled under the Internal Revenue 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:

 

 

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

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

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

     (IV) in the case of a Foreign Lender claiming the benefits of the exemption for
portfolio interest under section 881(c) of the Internal Revenue 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 Internal Revenue Code, (B) a “10 percent
shareholder” of the Borrower within the meaning of section 881(c)(3)(B) of the
Internal Revenue Code, or (C) a “controlled foreign corporation” described in
section 881(c)(3)(C) of the Internal Revenue Code and (y) executed originals of
Internal Revenue Service Form W-8BEN, or

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

     (iii) Each Lender 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.

     (f) Treatment of Certain Refunds. Unless required by applicable Laws, at no time
shall the Administrative Agent have any obligation to file for or otherwise pursue on behalf of a
Lender or the L/C Issuer, or have any obligation to pay to any Lender or the L/C Issuer, any refund
of Taxes withheld or deducted from funds paid for the account of such Lender or the L/C Issuer, as
the case may be. If the Administrative Agent, any Lender or the L/C Issuer determines, in its sole
discretion, that it has received a refund of any Taxes or Other Taxes as to which it has been
indemnified by any Loan Party or with respect to which any Loan Party has paid additional amounts
pursuant to this Section, it shall pay to such Loan Party an amount equal to such refund (but only
to the extent of indemnity payments made, or additional amounts paid, by such Loan Party 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 the L/C Issuer, as the
case may be, and without interest (other than any interest paid by the relevant Governmental
Authority with respect to such refund), provided that each Loan Party, upon the request of
the Administrative Agent, such Lender or the L/C Issuer, agrees to repay the amount paid over to
such Loan Party (plus any penalties, interest or other charges imposed by the relevant Governmental
Authority) to the Administrative Agent, such Lender or the L/C Issuer in the event the
Administrative Agent, such Lender or the L/C Issuer is required to repay such refund to such
Governmental Authority. This subsection shall not be construed to require the Administrative
Agent, any Lender or the L/C Issuer to make available its tax returns (or any other information
relating to its taxes that it deems confidential) to the Borrower, any Subsidiary 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, (a) 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 (b) 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 of such Lender’s
Eurodollar Rate Loans 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 Agent is advised in writing by such
Lender that it is no longer illegal for such Lender to determine or charge interest rates based
upon the Eurodollar Rate. Upon any such prepayment or conversion, the Borrower shall also pay
accrued interest on the amount so prepaid or converted.

     3.03 Inability to Determine Rates. If the Required Lenders determine that for any
reason in connection with any request for a Eurodollar Rate Loan or a conversion to or continuation
thereof that (a) Dollar deposits are not being offered to banks in the London interbank eurodollar
market for the applicable amount and Interest Period of such Eurodollar Rate Loan, (b) adequate and
reasonable means do not exist for determining the Eurodollar Base Rate for any requested Interest
Period with respect to a proposed Eurodollar Rate Loan, or (c) the Eurodollar Base Rate for any
requested Interest Period with respect to a proposed Eurodollar Rate Loan or in connection with an
existing or proposed Base Rate Loan or in connection with a Eurodollar Rate Loan does not
adequately and fairly reflect the cost to such Lenders of funding such Loan, the Administrative
Agent will promptly notify the Borrower and each Lender. Thereafter, (x) the obligation of the
Lenders to make or maintain Eurodollar Rate Loans shall be suspended and (y) in the event of a
determination described in the preceding sentence with respect to the Eurodollar Rate component of
the Base Rate, the utilization of the Eurodollar Rate component in determining the Base Rate shall
be suspended, in each case until the Administrative Agent (upon the instruction of the Required
Lenders) revokes such notice. Upon receipt of such notice, the Borrower may revoke any pending
request for a Borrowing of, conversion to or continuation of Eurodollar Rate Loans or, failing
that, will be deemed to have converted such request into a request for a Borrowing of Base Rate
Loans in the amount specified therein.

     3.04 Increased Costs.

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

 

 

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

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

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

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

     (b) Capital Requirements. If any Lender or the L/C Issuer determines that any Change
in Law affecting such Lender or the L/C Issuer or any Lending Office of such Lender or such
Lender’s or the L/C Issuer’s holding company, if any, regarding capital requirements has or would
have the effect of reducing the rate of return on such Lender’s or the L/C Issuer’s capital or on
the capital of such Lender’s or the L/C Issuer’s holding company, if any, as a consequence of this
Agreement, the Commitments of such Lender or the Loans made by, or participations in Letters of
Credit held by, such Lender, or the Letters of Credit issued by the L/C Issuer, to a level below
that which such Lender or the L/C Issuer or such Lender’s or the L/C Issuer’s holding company could
have achieved but for such Change in Law (taking into consideration such Lender’s or the L/C
Issuer’s policies and the policies of such Lender’s or the L/C Issuer’s holding company with
respect to capital adequacy), then from time to time the Borrower will pay to such Lender or the
L/C Issuer, as the case may be, such additional amount or amounts as will compensate such Lender or
the L/C Issuer or such Lender’s or the L/C Issuer’s holding company for any such reduction
suffered.

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

     (d) Delay in Requests. Failure or delay on the part of any Lender or the L/C Issuer
to demand compensation pursuant to the foregoing provisions of this Section shall not constitute a
waiver of such Lender’s or the L/C Issuer’s right to demand such compensation, provided
that the Borrower shall not be required to compensate a Lender or the L/C Issuer pursuant to the
foregoing provisions of this Section for any increased costs incurred or reductions suffered more
than six months prior to the date that

 

 

such Lender or the 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 the L/C Issuer’s
intention to claim compensation therefor (except that, if the Change in Law giving rise to such
increased costs or reductions is retroactive, then the six-month period referred to above shall be
extended to include the period of retroactive effect thereof).

     3.05 Compensation for Losses. Upon demand of any Lender (with a copy to the
Administrative Agent) from time to time, the Borrower shall promptly compensate such Lender 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 Eurodollar 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 Eurodollar Rate Loan on the date or
in the amount notified by the Borrower; or

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

including any loss of anticipated profits and any loss or expense arising from the liquidation or
redeployment 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 of 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,
the L/C Issuer or any Governmental Authority for the account of any Lender or the L/C Issuer
pursuant to Section 3.01, or if any Lender gives a notice pursuant to Section 3.02,
then such Lender or the L/C Issuer, as applicable, shall use reasonable efforts to designate a
different Lending Office for funding or booking its Loans hereunder or to assign its rights and
obligations hereunder to another of its offices, branches or affiliates, if, in the judgment of
such Lender or the L/C Issuer, as applicable, such designation or assignment (i) would eliminate or
reduce amounts payable pursuant to Section 3.01 or 3.04, as the case may be, in the
future, or eliminate the need for the notice pursuant to Section 3.02, as applicable, and
(ii) in each case, would not subject such Lender or the L/C Issuer, as the case may be, to any
unreimbursed cost or expense and would not otherwise be disadvantageous to such Lender or the L/C
Issuer, as the case may be. The Borrower hereby agrees to pay all reasonable costs and expenses
incurred by any Lender or the L/C Issuer in connection with any such designation or assignment.

     (b) Replacement of Lenders. If any Lender requests compensation under Section
3.04, or if the Borrower is required to pay any additional amount to any Lender or any
Governmental Authority for

 

 

the account of any Lender pursuant to Section 3.01, the Borrower may replace such
Lender in accordance with Section 11.13.

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

ARTICLE IV

GUARANTY

     4.01 The Guaranty.

     (a) Each of the Guarantors hereby jointly and severally guarantees to the Administrative Agent
and each of the holders of the Obligations, as hereinafter provided, as primary obligor and not as
surety, the prompt payment of the Obligations (the “Guaranteed Obligations”) in full when
due (whether at stated maturity, as a mandatory prepayment, by acceleration, as a mandatory cash
collateralization or otherwise) strictly in accordance with the terms thereof. The Guarantors
hereby further agree that if any of the Guaranteed Obligations are not paid in full when due
(whether at stated maturity, as a mandatory prepayment, by acceleration, as a mandatory cash
collateralization or otherwise), the Guarantors will, jointly and severally, promptly pay the same,
without any demand or notice whatsoever, and that in the case of any extension of time of payment
or renewal of any of the Guaranteed Obligations, the same will be promptly paid in full when due
(whether at extended maturity, as a mandatory prepayment, by acceleration, as a mandatory cash
collateralization or otherwise) in accordance with the terms of such extension or renewal.

     (b) Notwithstanding any provision to the contrary contained herein or in any other of the Loan
Documents, Swap Contracts, Treasury Management Agreements or the other documents relating to the
Obligations, the obligations of each Guarantor under this Agreement and the other Loan Documents
shall not exceed an aggregate amount equal to the largest amount that would not render such
obligations subject to avoidance under applicable Debtor Relief Laws.

     4.02 Obligations Unconditional. The obligations of the Guarantors under Section
4.01 are joint and several, absolute and unconditional, irrespective of the value, genuineness,
validity, regularity or enforceability of any of the Loan Documents or other documents relating to
the Obligations, or any substitution, compromise, release, impairment or exchange of any other
guarantee of or security for any of the Guaranteed Obligations, and, to the fullest extent
permitted by applicable law, irrespective of any other circumstance whatsoever which might
otherwise constitute a legal or equitable discharge or defense of a surety or guarantor, it being
the intent of this Section 4.02 that the obligations of the Guarantors hereunder shall be
absolute and unconditional under any and all circumstances. Each Guarantor agrees that such
Guarantor shall have no right of subrogation, indemnity, reimbursement or contribution against the
Borrower or any other Guarantor for amounts paid under this Article IV until such time as
the Obligations have been paid in full and the commitments relating thereto have expired or
terminated. Without limiting the generality of the foregoing, it is agreed that, to the fullest
extent permitted by law, the occurrence of any one or more of the following shall not alter or
impair the liability of any Guarantor hereunder, which shall remain absolute and unconditional as
described above:

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

 

 

     (b) any of the acts mentioned in any of the provisions of any of the Loan
Documents or any other document relating to the Guaranteed Obligations shall be done or
omitted;

     (c) the maturity of any of the Guaranteed Obligations shall be accelerated, or any of
the Obligations shall be modified, supplemented or amended in any respect, or any right
under any of the Loan Documents or any other document relating to the Guaranteed Obligations
shall be waived or any other guarantee of any of the Guaranteed Obligations or any security
therefor shall be released, impaired or exchanged in whole or in part or otherwise dealt
with;

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

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

     With respect to its obligations hereunder, each Guarantor hereby expressly waives diligence,
presentment, demand of payment, protest and all notices whatsoever and any requirement that the
Administrative Agent or any other holder of the Guaranteed Obligations exhaust any right, power or
remedy or proceed against any Person under any of the Loan Documents or any other documents
relating to the Guaranteed Obligations or any other agreement or instrument referred to therein, or
against any other Person under any other guarantee of, or security for, any of the Obligations.

     4.03 Reinstatement. The obligations of each Guarantor under this Article IV
shall be automatically reinstated if and to the extent that for any reason any payment by or on
behalf of any Person in respect of the Guaranteed Obligations is rescinded or must be otherwise
restored by any holder of any of the Obligations, whether as a result of any Debtor Relief Law or
otherwise, and each Guarantor agrees that it will indemnify the Administrative Agent and each other
holder of the Guaranteed Obligations on demand for all reasonable costs and expenses (including
fees, charges and disbursements of any law firm or other counsel) incurred by the Administrative
Agent or such holder of Guaranteed Obligations in connection with such rescission or restoration,
including any such costs and expenses incurred in defending against any claim alleging that such
payment constituted a preference, fraudulent transfer or similar payment under any Debtor Relief
Law.

     4.04 Certain Waivers. Each Guarantor acknowledges and agrees that (a) the guaranty
given hereby may be enforced without the necessity of resorting to or otherwise exhausting remedies
in respect of any other security or collateral interests, and without the necessity at any time of
having to take recourse against the Borrower hereunder or against any collateral securing the
Guaranteed Obligations or otherwise, (b) it will not assert any right to require the action first
be taken against the Borrower or any other Person (including any co-guarantor) or pursuit of any
other remedy or enforcement of any other right and (c) nothing contained herein shall prevent or
limit action being taken against the Borrower hereunder, under the other Loan Documents or the
other documents and agreements relating to the Guaranteed Obligations or from foreclosing on any
security or collateral interests relating hereto or thereto, or from exercising any other rights or
remedies available in respect thereof, if neither the Borrower nor the Guarantors shall timely
perform their obligations, and the exercise of any such rights and completion of any such
foreclosure proceedings shall not constitute a discharge of the Guarantors’ obligations hereunder
unless as a result thereof, the Guaranteed Obligations shall have been paid in full and the
commitments relating thereto shall have expired or been terminated, it being the purpose and

 

 

intent that the Guarantors’ obligations hereunder be absolute, irrevocable, independent and
unconditional under all circumstances.

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

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

     4.06 Rights of Contribution. The Guarantors agree among themselves that, in
connection with payments made hereunder, each Guarantor shall have contribution rights against the
other Guarantors as permitted under applicable law. Such contribution rights shall be subordinate
and subject in right of payment to the obligations of such Guarantors under the Loan Documents and
no Guarantor shall exercise such rights of contribution until the Obligations have been paid in
full and the Commitments have terminated.

     4.07 Guarantee of Payment; Continuing Guarantee. The guarantee in this Article
IV is a guaranty of payment and not of collection, is a continuing guarantee, and shall apply
to all the Guaranteed Obligations whenever arising.

ARTICLE V

CONDITIONS PRECEDENT TO CREDIT EXTENSIONS

     5.01 Conditions of Effectiveness. This Agreement shall be effective upon satisfaction
of the following conditions precedent in each case in manner satisfactory to the Administrative
Agent and each Lender:

     (a) Loan Documents. Receipt by the Administrative Agent of executed
counterparts of this Agreement and the other Loan Documents, in each case, duly executed by
the appropriate parties thereto.

     (b) Opinions of Counsel. Receipt by the Administrative Agent of favorable
opinions of legal counsel to the Loan Parties, in form, scope and substance satisfactory to
the Administrative Agent and the Lenders, and including, among other things, due
authorization, execution, delivery of the Loan Documents, and the enforceability thereof and
the attachment and perfection of security interests relating thereto.

 

 

     (c) Organization Documents, Resolutions, Etc. Receipt by the Administrative
Agent of the following:

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

     (ii) such certificates of resolutions or other action, incumbency certificates
and/or other certificates of Responsible Officers of each Loan Party as the
Administrative Agent may reasonably require evidencing the identity, authority and
capacity of each Responsible Officer thereof authorized to act as a Responsible
Officer in connection with this Agreement and the other Loan Documents to which such
Loan Party is a party; and

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

     (d) Personal Property Collateral. Receipt by the Administrative Agent of the
following:

     (i) searches of Uniform Commercial Code filings in the jurisdiction of
formation of each Loan Party and each other jurisdiction deemed appropriate by the
Administrative Agent;

     (ii) all certificates evidencing any certificated Equity Interests pledged to
the Administrative Agent pursuant to the Security Agreement or Pledge Agreement,
together with undated stock powers duly executed in blank attached thereto;

     (iii) searches of ownership of, and Liens on, United States registered
intellectual property of each Loan Party in the appropriate governmental offices;
and

     (iv) duly executed notices of grant of security interest in the form required
by the Security Agreement as are necessary, in the Administrative Agent’s sole
discretion, to perfect the Administrative Agent’s security interest in the United
States registered intellectual property of the Loan Parties.

     (e) Evidence of Insurance. Receipt by the Administrative Agent of copies of
insurance policies or certificates of insurance of the Loan Parties evidencing liability and
casualty insurance meeting the requirements set forth in the Loan Documents, and including
affirmative flood insurance coverage where appropriate.

     (f) Closing Certificate. Receipt by the Administrative Agent of a certificate
signed by a Responsible Officer of the Borrower as of the Closing Date certifying that (A)
the conditions specified in each of Section 5.02(a) and Section 5.02(b) have
been satisfied as of the Closing Date and (B) there has been no event, change, occurrence,
circumstance or development since the date of the Audited Financial Statements that has had
or could reasonably be expected to have, either individually or in the aggregate, a Material
Adverse Effect.

 

 

     (g) Fees. Receipt by the Administrative Agent, the Arrangers and the Lenders
of any fees required to be paid on or before the Closing Date.

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

     Without limiting the generality of the provisions of the last paragraph of Section
10.03, for purposes of determining compliance with the conditions specified in this Section
5.01, 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.

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

     (a) The representations and warranties of the Borrower and each other Loan Party
contained in Article VI or any other Loan Document, or which are contained in any
document furnished at any time under or in connection herewith or therewith, shall be true
and correct in all material respects on and as of the date of such Credit Extension, except
to the extent that such representations and warranties specifically refer to an earlier
date, in which case they shall be true and correct in all material respects as of such
earlier date.

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

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

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

ARTICLE VI

REPRESENTATIONS AND WARRANTIES

     The Loan Parties represent and warrant to the Administrative Agent and the Lenders that:

     6.01 Existence, Qualification and Power. The Borrower 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 to (i) own or lease its assets
and carry on its business and (ii) execute, deliver and perform its obligations under the Loan
Documents to which it is a party, 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 would not reasonably
be expected to have a Material Adverse Effect.

     6.02 Authorization; No Contravention. The execution, delivery and performance by each
Loan Party of each Loan Document to which such Person is party have been duly authorized by all
necessary corporate or other organizational action, and do not (a) contravene the terms of any of
such Person’s Organization Documents; (b) conflict with or result in any breach or contravention
of, or the creation of any Lien under, or require any payment to be made under (i) any Contractual
Obligation to which such Person is a party or affecting such Person or the properties of such
Person or any of its Subsidiaries or (ii) any order, injunction, writ or decree of any Governmental
Authority or any arbitral award to which such Person or its property is subject; or (c) violate any
Law; except in each case referred to in clause (b), to the extent such breach, contravention or
violation would not reasonably be expected to have a Material Adverse Effect.

     6.03 Governmental Authorization; Other Consents. No approval, consent, exemption,
authorization, or other action by, or notice to, or filing with, any Governmental Authority or any
other Person is necessary or required in connection with the execution, delivery or performance by,
or enforcement against, any Loan Party of this Agreement or any other Loan Document other than (i)
those that have already been obtained and are in full force and effect and (ii) filings to perfect
the Liens created by the Collateral Documents.

     6.04 Binding Effect. Each Loan Document has been duly executed and delivered by each
Loan Party that is party thereto. Each Loan Document constitutes a legal, valid and binding
obligation of each Loan Party that is party thereto, enforceable against such Loan Party that is
party thereto in accordance with its terms.

     6.05 Financial Statements; No Material Adverse Effect.

     (a) The Audited Financial Statements (i) were prepared in accordance with GAAP consistently
applied throughout the period covered thereby, except as otherwise expressly noted therein; (ii)
fairly present the financial condition of the 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 Borrower
and its Subsidiaries as of the date thereof, including liabilities for taxes, material commitments
and Indebtedness.

     (b) From the date of the Audited Financial Statements to and including the Closing Date, there
has been no Disposition or any Recovery Event of any material part of the business or property of
the Borrower and its Subsidiaries, taken as a whole, and no purchase or other acquisition by any of
them of any business or property (including any Equity Interests of any other Person) material in
relation to the consolidated financial condition of the Borrower and its Subsidiaries, taken as a
whole, in each case, which is not reflected in the foregoing financial statements or in the notes
thereto and has not otherwise been disclosed in writing to the Lenders on or prior to the Closing
Date.

     (c) The financial statements delivered pursuant to Section 7.01(a) and (b)
have been prepared in accordance with GAAP (except as may otherwise be permitted under Section
7.01(a) and (b)) and

 

 

present fairly (on the basis disclosed in the footnotes to such financial statements) the
financial condition, results of operations and cash flows as of the dates thereof and for the
periods covered thereby.

     (d) Since the date of the Audited Financial Statements, there has been no event or
circumstance that has had or would reasonably be expected to have a Material Adverse Effect.

     6.06 Litigation. Except as set forth on Schedule 6.06 (none of which would
reasonably be expected to have a Material Adverse Effect as of the Closing Date), there are no
actions, suits, investigations, criminal prosecutions, civil investigative demands, imposition of
criminal or civil penalties, proceedings, claims or disputes pending or, to the knowledge of the
Responsible Officers of any Loan Party, threatened, at law, in equity, in arbitration or before any
Governmental Authority, by or against the Borrower or any of its Subsidiaries or against any of
their properties, revenues, officers or other member of their management that (a) purport to affect
or pertain to this Agreement or any other Loan Document or any of the transactions contemplated
hereby or (b) would reasonably be expected to have a Material Adverse Effect.

     6.07 No Default.

     (a) Neither the Borrower nor any of its Subsidiaries is in default under or with respect to
any Contractual Obligation that would reasonably be expected to have a Material Adverse Effect.

     (b) No Default or Event of Default has occurred and is continuing.

     6.08 Ownership of Property; Liens. Each of the Borrower and its Subsidiaries has good
record and marketable title in fee simple to, or valid leasehold interests in, all real property
necessary in the ordinary conduct of its business, except for such defects in title as would not
reasonably be expected to have a Material Adverse Effect. The property of the Borrower and its
Subsidiaries is not subject to any Liens other than Permitted Liens.

     6.09 Environmental Compliance. Except in each case as would not reasonably be
expected to have a Material Adverse Effect:

     (a) Each of the facilities and real properties owned, leased or operated by the
Borrower or any of its Subsidiaries (the “Facilities”) and all operations at the
Facilities are in compliance with all applicable Environmental Laws, and there is no
violation of any Environmental Law with respect to the Facilities or the businesses operated
by the Borrower and its Subsidiaries at such time (the “Businesses”), and there are
no conditions relating to the Facilities or the Businesses that could give rise to liability
under any applicable Environmental Laws.

     (b) None of the Facilities contains, or has previously contained, any Hazardous
Materials at, on or under the Facilities in amounts or concentrations that constitute or
constituted a violation of, or could give rise to liability under, Environmental Laws.

     (c) Neither the Borrower nor any of its Subsidiaries has received any written or verbal
notice of, or inquiry from any Governmental Authority regarding, any violation, alleged
violation, non-compliance, liability or potential liability regarding environmental matters
or compliance with Environmental Laws with regard to any of the Facilities or any of the
Businesses, nor does any Responsible Officer of any Loan Party have knowledge or reason to
believe that any such notice will be received or is being threatened.

 

 

     (d) Hazardous Materials have not been transported or disposed of from the Facilities,
or generated, treated, stored or disposed of at, on or under any of the Facilities or any
other location, in each case by or on behalf of the Borrower or any of its Subsidiaries in
violation of, or in a manner that would be reasonably likely to give rise to liability
under, any applicable Environmental Law.

     (e) No judicial proceeding or governmental or administrative action is pending or, to
the knowledge of the Responsible Officers of any Loan Party, threatened, under any
Environmental Law to which the Borrower or any of its Subsidiaries is or will be named as a
party, nor are there any consent decrees or other decrees, consent orders, administrative
orders or other orders, or other administrative or judicial requirements outstanding under
any Environmental Law with respect to the Borrower, any Subsidiary, the Facilities or the
Businesses.

     (f) There has been no release or threat of release of Hazardous Materials at or from
the Facilities, or arising from or related to the operations (including, without limitation,
disposal) of the Borrower or any of its Subsidiaries in connection with the Facilities or
otherwise in connection with the Businesses, in violation of or in amounts or in a manner
that could give rise to liability under Environmental Laws.

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

     6.11 Taxes. The Borrower and its Subsidiaries have filed all federal and state income
tax and all other material tax returns and reports required to be filed, and have paid all federal
and state income taxes and all other material taxes, assessments, fees and other governmental
charges levied or imposed upon them or their properties, income or assets otherwise due and
payable, except those which are being contested in good faith by appropriate proceedings diligently
conducted and for which adequate reserves have been provided in accordance with GAAP. There is no
proposed tax assessment against the Borrower or any of its Subsidiaries that would, if made, have a
Material Adverse Effect. Neither the Borrower nor any of its Subsidiaries is party to any tax
sharing agreement.

     6.12 ERISA Compliance.

     (a) Each Plan is in compliance in all material respects with the applicable provisions of
ERISA, the Internal Revenue Code and other Federal or state laws. Each Pension Plan that is
intended to be a qualified plan under Section 401(a) of the Internal Revenue Code has received a
favorable determination letter from the IRS to the effect that the form of such Plan is qualified
under Section 401(a) of the Internal Revenue Code and the trust related thereto has been determined
by the IRS to be exempt from federal income tax under Section 501(a) of the Internal Revenue Code,
or an application for such a letter is currently being processed by the IRS.

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

 

 

     (c) (i) No ERISA Event has occurred, and neither any Loan Party 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) each Loan Party 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 Internal Revenue Code)
is 60% or higher and neither any Loan Party 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 any Loan
Party 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 any
Loan Party 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.

     6.13 Subsidiaries. Set forth on Schedule 6.13 is a complete and accurate list
as of the Closing Date of each Subsidiary, together with (a) jurisdiction of incorporation or
organization, (b) number of shares of each class of Equity Interests outstanding, and (c)
percentage of outstanding shares of each class owned (directly or indirectly) by the Borrower or
any of its Subsidiaries. The outstanding Equity Interests of each Subsidiary are validly issued,
fully paid and, to the extent applicable, non-assessable.

     6.14 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.

     6.15 Disclosure. Each Loan Party 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 would reasonably be expected to
result in a Material Adverse Effect. No report, financial statement, certificate or other
information furnished (whether in writing or orally) 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) 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 Loan Parties represent only that such
information was prepared in good faith based upon assumptions believed to be reasonable at the
time.

     6.16 Compliance with Laws. Each of the Borrower and its Subsidiaries is in compliance
with the requirements of all Laws and all orders writs, injunctions and decrees applicable to it or
its properties, except in such instances in which (x) such requirement of Law or order, writ,
injunction or decree is being contested in good faith by appropriate proceedings diligently
conducted or (y) the failure to comply therewith would not reasonably be expected to have a
Material Adverse Effect.

 

 

     6.17 Intellectual Property; Licenses, Etc.

     (a) The Borrower and its Subsidiaries own, or possess the legal right to use all trademarks,
service marks, trade names, copyrights, patents, patent rights, franchises, licenses and other
intellectual property rights (clauses (i) and (ii) are, collectively, “IP Rights”) that are
reasonably necessary for the operation of their respective businesses without conflict with the
rights of any other Person except, in the case of the IP Rights described in clause (ii), to the
extent that the failure to do so would not reasonably be expected to have a Material Adverse
Effect.

     (b) Set forth on Schedule 6.17 is a list of all material IP Rights that the Borrower
or any of its Subsidiaries owns which are registered or pending registration, in each case together
with the jurisdiction in which such IP Right is registered or pending registration.

     (c) Except for such claims and infringements that would not reasonably be expected to have a
Material Adverse Effect, no claim has been asserted and is pending by any Person challenging or
questioning the use of any IP Rights or the validity or effectiveness of any IP Rights, and, to the
knowledge of the Responsible Officers of any Loan Party, the use of any IP Rights by the Borrower
or any of its Subsidiaries, the granting of a right or a license in respect of any IP Rights from
the Borrower or any of its Subsidiaries or any 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 does not infringe on any rights of any other
Person except where such infringement would not reasonably be expected to have a Material Adverse
Effect.

     (d) As of the Closing Date, none of the IP Rights owned by the Borrower or any of its
Subsidiaries is subject to any material licensing agreement or similar arrangement except as set
forth on Schedule 6.17.

     6.18 Solvency. The Borrower and its Subsidiaries, taken as a whole, are Solvent.

     6.19 Perfection of Security Interests in the Collateral. The Collateral Documents
create valid security interests in, and Liens on, the Collateral purported to be covered thereby,
which security interests and Liens are currently perfected security interests and Liens, prior to
all other Liens other than Permitted Liens. More specifically,

     (a) Security Agreement. The Security Agreement is effective to create in favor
of the Collateral Agent, for the benefit of the holders of the Obligations, a legal, valid
and enforceable security interest in the Collateral identified therein, except to the extent
the enforceability thereof may be limited by applicable Debtor Relief Laws affecting
creditors’ rights generally and by equitable principles of law (regardless of whether
enforcement is sought in equity or at law) and, when UCC financing statements (or other
appropriate notices) in appropriate form are duly filed at the locations identified in the
Security Agreement, the Security Agreement shall create a fully perfected Lien on, and
security interest in, all right, title and interest of the grantors thereunder in such
Collateral, in which a security interest may be perfected by the filing of a UCC financing
statement in each case prior and superior in right to any other Lien (other than Permitted
Liens).

     (b) Pledge Agreement. The Pledge Agreement is effective to create in favor of
the Collateral Agent, for the benefit of the holders of the Obligations, a legal, valid and
enforceable security interest in the Collateral identified therein, except to the extent the
enforceability thereof may be limited by applicable Debtor Relief Laws affecting creditors’
rights generally and by equitable principles of law (regardless of whether enforcement is
sought in equity or at law) and

 

 

the Pledge Agreement shall create a fully perfected Lien on, and security interest in,
all right, title and interest of the pledgors thereunder in such Collateral, in each case
prior and superior in right to any other Lien (i) with respect to any such Collateral that
is a “security” (as such term is defined in the UCC) and is evidenced by a certificate, when
such Collateral is delivered to the Collateral Agent with duly executed stock powers with
respect thereto, (ii) with respect to any such Collateral that is a “security” (as such term
is defined in the UCC) but is not evidenced by a certificate, when UCC financing statements
in appropriate form are filed in the appropriate filing offices in the jurisdiction of
organization of the pledgor or when “control” (as such term is defined in the UCC) is
established by the Collateral Agent over such interests in accordance with the provision of
Section 8-106 of the UCC, or any successor provision, and (iii) with respect to any such
Collateral that is not a “security” (as such term is defined in the UCC), when UCC financing
statements in appropriate form are filed in the appropriate filing offices in the
jurisdiction of organization of the pledgor.

     6.20 Business Locations; Taxpayer Identification Number. Set forth on Schedule
6.20-1 is a list of all real property located in the United States that is owned or leased by
any Loan Party as of the Closing Date (identifying whether such real property is owned or leased
and which Loan Party owns or leases such real property). Set forth on Schedule 6.20-2 is
the chief executive office, U.S. tax payer identification number and organizational identification
number of each Loan Party as of the Closing Date. The exact legal name and state of organization
of each Loan Party as of the Closing Date is as set forth on the signature pages hereto. Except as
set forth on Schedule 6.20-3, no Loan Party has during the five years preceding the Closing
Date (i) changed its legal name, (ii) changed its state of formation, or (iii) been party to a
merger, consolidation or other change in structure.

     6.21 Licensing and Accreditation. Except to the extent it would not reasonably be
expected to have a Material Adverse Effect, each of the Borrower and its Subsidiaries and, to the
knowledge of the Responsible Officers of any Loan Party, has, to the extent applicable: (a)
obtained (or been duly assigned) all required certifications, approvals or determinations as
required by the relevant state Governmental Authority for the acquisition, construction, expansion
of, investment in or operation of its businesses as currently operated, (b) obtained and maintains
in good standing all required licenses, permits, authorizations, registrations and approvals of
each Governmental Authority necessary to the conduct of its business, including without limitation
a license to provide the professional services provided by such Person; (c) to the extent prudent
and customary in the industry in which it is engaged, obtained and maintains accreditation from all
generally recognized accrediting agencies; and (d) ensured that all such required licenses or
restricted certifications and accreditations are in full force and effect on the date hereof and
have not been revoked or suspended or otherwise limited.

     6.22 Labor Matters.

     (a) There are no collective bargaining agreements or Multiemployer Plans covering the
employees of the Borrower or any Subsidiary as of the Closing Date.

     (b) Neither the Borrower nor any Subsidiary has suffered any strikes, walkouts, work stoppages
or other material labor difficulty in the five years preceding the Closing Date.

 

 

ARTICLE VII

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, the Loan
Parties shall and shall cause each Subsidiary to:

     7.01 Financial Statements. Deliver to the Administrative Agent, in form and detail
reasonably satisfactory to the Administrative Agent:

     (a) as soon as available, but in any event within ninety days after the end of each
fiscal year 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)), commencing with the fiscal
year ending December 31, 2011, consolidated and consolidating financial statements for the
Borrower and its Subsidiaries, including a balance sheet as at the end of such fiscal year,
and the related statements of income or operations, changes in cash flows and changes in
shareholders’ equity (on a consolidated basis only) for such fiscal year, all in reasonable
detail and prepared in accordance with GAAP, and in the case of such consolidated
statements, audited and accompanied by a report and opinion of an independent certified
public accountant of nationally recognized standing reasonably acceptable to the
Administrative Agent, 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; and

     (b) as soon as available, but in any event within, forty-five days after the end of
each of the first three fiscal quarters (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 ending March 31, 2011, consolidated and consolidating
financial statements for the Borrower and its Subsidiaries, including a balance sheet as at
the end of such fiscal quarter, and the related statements of income or operations, changes
in cash flows and changes in shareholders’ equity (on a consolidated basis only) for the
fiscal quarter and portion of the fiscal year then ended, all in reasonable detail and in
the case of such consolidated statements certified by the chief executive officer, chief
financial officer, treasurer or controller of the Borrower as fairly presenting the
financial condition, results of operations, shareholders’ equity 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.

As to any information contained in materials furnished pursuant to Section 7.02(d), the
Borrower shall not be separately required to furnish such information under clause (a) or (b)
above, but the foregoing shall not be in derogation of the obligation of the Borrower to furnish
the information and materials described in clauses (a) and (b) above at the times specified
therein.

     7.02 Certificates; Other Information. Deliver to the Administrative Agent and each
Lender, in form and detail reasonably satisfactory to the Administrative Agent:

     (a) concurrently with the delivery of the financial statements referred to in
Section 7.01(a), a certificate of its independent certified public accountants
certifying such financial statements and stating that in making the examination necessary
therefor no knowledge was obtained of any Event of Default under the financial covenants set
forth herein or, if any such Event of Default shall exist, stating the nature and status of
such event;

 

 

     (b) concurrently with the delivery of the financial statements referred to in
Sections 7.01(a) and (b), a duly completed Compliance Certificate signed by
the chief executive officer, chief financial officer, treasurer or controller of the
Borrower;

     (c) not more than 60 days after the end of each fiscal year of the Borrower, commencing
with the fiscal year ending December 31, 2011, forecasts prepared by management of the
Borrower, in form and detail reasonably satisfactory to the Administrative Agent, 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 immediately following fiscal year
(including the fiscal year in which the Maturity Date occurs);

     (d) promptly after the same are available, copies of each annual report, proxy or
financial statement or other report or communication sent to the equityholders of the
Borrower or any of its Subsidiaries, 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 Securities Exchange Act
of 1934, and not otherwise required to be delivered to the Administrative Agent pursuant
hereto;

     (e) promptly after any request by the Administrative Agent, 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 the Borrower by independent accountants in
connection with the accounts or books of the Borrower or any of its Subsidiaries, or any
audit of any of them;

     (f) promptly, and in any event within seven Business Days after receipt thereof by the
Borrower or any of its Subsidiaries, 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 possible investigation or other inquiry by such agency regarding financial
or other operational results of the Borrower or any of its Subsidiaries; and

     (g) promptly, such additional information regarding the business, financial or
corporate affairs of the Borrower or any of its Subsidiaries, 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 7.01(a) or (b) or
Section 7.02(d) (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 such documents are posted, or a link provided thereto on the
Borrower’s website on the Internet at the website address listed on Schedule 11.02; or (ii)
on which such documents are posted on behalf of the Borrower on an Internet or intranet website, if
any, to which the Administrative Agent and the Lenders have access (whether a commercial,
third-party website or whether sponsored by the Administrative Agent); provided that: (i)
the paper copies of such documents shall be delivered to the Administrative Agent on request, and
delivery of such paper copies shall continue until written notice from the Administrative Agent
that such deliveries may cease, and (ii) the Borrower shall notify the Administrative Agent (by
telecopier or electronic mail) of the posting of any such documents and provide to the
Administrative Agent by electronic mail electronic versions (i.e., soft copies) of such
documents. The Administrative Agent shall have no obligation to request the delivery 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 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 Loan Parties hereby acknowledge that (a) the Administrative Agent and/or the Arrangers will
make available to the Lenders and the L/C Issuer materials and/or information provided by or on
behalf of the Loan Parties hereunder (collectively, “Borrower Materials”) by posting the
Borrower Materials on IntraLinks or another similar electronic system (the “Platform”) and
(b) certain of the Lenders (each a “Public Lender”) may have personnel who do not wish to
receive material non-public information with respect to the Borrower or its Subsidiaries and
Affiliates, or the respective securities of any of the foregoing, and who may be engaged in
investment and other market-related activities with respect to such Persons’ securities. The Loan
Parties hereby agree that so long as any of the Loan Parties is the issuer of any outstanding debt
or equity securities that are registered or issued pursuant to a private offering or is actively
contemplating issuing any such securities (w) all Borrower Materials that are to be made available
to Public Lenders shall be clearly and conspicuously marked “PUBLIC” which, at a minimum, shall
mean that the word “PUBLIC” shall appear prominently on the first page thereof; (x) by marking
Borrower Materials “PUBLIC,” the Loan Parties shall be deemed to have authorized the Administrative
Agent, the Arrangers, the L/C Issuer and the Lenders to treat such Borrower Materials as not
containing any material non-public information with respect to the Loan Parties or their securities
for purposes of United States federal and state securities laws (provided, however,
that to the extent such Borrower Materials constitute Information, they shall be treated as set
forth in Section 11.07); (y) all Borrower Materials marked “PUBLIC” are permitted to be
made available through a portion of the Platform designated as “Public Side Information;” and (z)
the Administrative Agent and the Arrangers shall be entitled to treat any Borrower Materials that
are not marked “PUBLIC” as being suitable only for posting on a portion of the Platform not
designated “Public Side Information”. Notwithstanding the foregoing, the Loan Parties shall be
under no obligation to mark any Borrower Materials “PUBLIC.”

     7.03
Notices. Promptly notify the Administrative Agent and each Lender of:

     (a) the occurrence of any Default or Event of Default;

     (b) any matter that has resulted or would reasonably be expected to result in a
Material Adverse Effect;

     (c) the occurrence of any ERISA Event, and

     (d) any material change in accounting policies or financial reporting practices by the
Borrower or any of its Subsidiaries, including any determination by the Borrower referred to
in Section 2.10(b).

Each notice pursuant to this Section 7.03 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 7.03(a) shall describe with particularity any and all provisions of
this Agreement and any other Loan Document that have been breached.

     7.04 Payment of Taxes. Pay and discharge as the same shall become due and payable all
tax liabilities, assessments and governmental charges or levies upon it or its properties or
assets, unless the same are being contested in good faith by appropriate proceedings diligently
conducted and adequate reserves in accordance with GAAP are being maintained by the Borrower or
such Subsidiary.

 

 

     7.05 Preservation of Existence, Etc.

     (a) Preserve, renew and maintain in full force and effect its legal existence under the Laws
of the jurisdiction of its organization except in a transaction permitted by Section 8.04
or 8.05.

     (b) Preserve, renew and maintain in full force and effect its good standing under the Laws of
the jurisdiction of its organization except in a transaction permitted by Section 8.04 or
8.05 except to the extent that the failure to do so would not reasonably be expected to
have a Material Adverse Effect.

     (c) Take all reasonable action to maintain all rights, privileges, permits, licenses and
franchises necessary or desirable in the normal conduct of its business, except to the extent that
the failure to do so would not reasonably be expected to have a Material Adverse Effect.

     (d) Preserve or renew all of its IP Rights, the non-preservation of which would reasonably be
expected to have a Material Adverse Effect.

     7.06 Maintenance of Properties.

     (a) Maintain, preserve and protect all of its material properties and equipment necessary in
the operation of its business in good working order and condition, ordinary wear and tear excepted.

     (b) Make all necessary repairs thereto and renewals and replacements thereof, except where the
failure to do so would not reasonably be expected to have a Material Adverse Effect.

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

     7.07 Maintenance of Insurance.

     (a) Maintain in full force and effect insurance with financially sound and reputable insurance
companies not Affiliates of the Borrower, in such amounts, with such deductibles and covering such
risks as are customarily carried by companies engaged in similar businesses and owning similar
properties in localities where the Borrower or the applicable Subsidiary operates.

     (b) Cause the Administrative Agent to be named as lender’s loss payee or mortgagee, its
successors and/or assigns, as its interest may appear, and/or additional insured with respect to
any such insurance providing liability coverage or coverage in respect of any Collateral, and cause
each provider of any such insurance to agree, by endorsement upon the policy or policies issued by
it or by independent instruments furnished to the Administrative Agent, that it will give the
Administrative Agent thirty days (or such lesser amount as the Administrative Agent may agree)
prior written notice before any such policy or policies shall be altered or canceled.

     7.08 Compliance with Laws. Except to the extent the failure to do so would not
reasonably be expected to have a Material Adverse Effect, comply with all Laws and all restrictions
and requirements imposed by any Governmental Authority; and obtain and maintain all licenses,
permits, certifications, registrations and approvals of all applicable Governmental Authorities as
are required for the conduct of its business as currently conducted and herein contemplated.

 

 

     7.09 Books and Records.

     (a) Maintain proper books of record and account with entries that are full, true and correct
in all material respects in conformity with GAAP consistently applied shall be made of all
financial transactions and matters involving the assets and business of the Loan Parties and their
Subsidiaries, as the case may be.

     (b) Maintain such books of record and account in material conformity with all applicable
requirements of any Governmental Authority having regulatory jurisdiction over the Loan Parties and
their Subsidiaries, as the case may be.

     7.10 Inspection Rights. Permit representatives and independent contractors of the
Administrative Agent and the Lenders to visit and inspect any of its properties, to examine its
corporate, financial and operating records, and 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, that (i) absent an Event of Default, the Borrower shall be required to pay for
only one such visit and/or inspection by the Administrative Agent in any fiscal year and (ii) when
an Event of Default exists the Administrative Agent and the Lenders (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. Each Lender shall be
permitted to have representatives or independent contractors of such Lender accompany the
Administrative Agent on any visit described in this clause at the sole cost of such Lender.

     7.11 Use of Proceeds. Use the proceeds of the Credit Extensions (a) to refinance
existing Indebtedness; and (b) for working capital, capital expenditures, Permitted Acquisitions
and other general corporate purposes in each case not in contravention of any Law or of any Loan
Document.

     7.12 Additional Subsidiaries.

     (a) Notice. The Borrower and/or the Borrower will give prompt notice of the formation
or acquisition of any Subsidiary. The notice will include information on the jurisdiction of
organization, the number and class of Equity Interests outstanding and ownership thereof (including
options, warrants, rights or conversion or purchase relating thereto) and other information as the
Administrative Agent may request.

     (b) Domestic Subsidiaries. Domestic Subsidiaries of the Loan Parties will be joined
as a Guarantor hereunder within sixty (60) days of the formation or acquisition by execution and
delivery of a Guarantor Joinder Agreement, or guaranty agreement or other arrangement reasonably
acceptable to the Administrative Agent, and such other documentation as the Administrative Agent
may reasonably require, together with copies of resolutions, Organization Documents and favorable
legal opinions, in form and substance reasonably acceptable to the Administrative Agent.

     7.13 Pledged Assets.

     (a) Equity Interests. Pledge or cause to be pledged (i) 100% of the Equity Interests
in the Borrower, (ii) 100% of the issued and outstanding Equity Interests of each Domestic
Subsidiary and (iii) 65% (or such greater percentage that, due to a change in an applicable Law
after the date hereof, (A) would not reasonably be expected to cause the undistributed earnings of
such Foreign Subsidiary as determined for United States federal income tax purposes to be treated
as a deemed dividend to such Foreign Subsidiary’s United States parent and (B) would not reasonably
be expected to cause any

 

 

material adverse tax consequences) of the issued and outstanding Equity Interests entitled to
vote (within the meaning of Treas. Reg. Section 1.956-2(c)(2)) and 100% of the issued and
outstanding Equity Interests not entitled to vote (within the meaning of Treas. Reg. Section
1.956-2(c)(2)) in each Material First Tier Foreign Subsidiary directly owned by any Loan Party in
each case to be subject at all times to a first priority, perfected Lien in favor of the
Administrative Agent, for the benefit of the holders of the Obligations, to secure the Obligations
pursuant to the Collateral Documents (subject only to Permitted Liens, if any), and, in connection
with the foregoing, deliver (or cause to be delivered) to the Administrative Agent joinder
agreements and such other documentation as the Administrative Agent may request, including, any
filings and deliveries to perfect such Liens (including, among other things, undated transfer
powers executed in blank where appropriate), Organization Documents, resolutions and favorable
opinions of counsel all in form, content and scope reasonably satisfactory to the Administrative
Agent. Such pledged interests and deliveries in connection therewith will be provided promptly,
but in the case of Equity Interests in Subsidiaries formed or acquired after the Closing Date, in
any event within sixty days of formation or acquisition in the case of Domestic Subsidiaries and
ninety days of formation, acquisition or otherwise becoming a Material First Tier Foreign
Subsidiary in the case of Foreign Subsidiaries.

     (b) Other Personal Property. Cause all personal property (other than Excluded
Property) of each Loan Party to be subject at all times to first priority (subject to Permitted
Liens), perfected Liens in favor of the Administrative Agent, for the benefit of the holders of the
Obligations, to secure the Obligations pursuant to the Collateral Documents (subject to Permitted
Liens) and, in connection with the foregoing, deliver to the Administrative Agent such other
documentation as the Administrative Agent may reasonably request including filings and deliveries
necessary to perfect such Liens, Organization Documents, resolutions and favorable opinions of
counsel to such Person, all in form, content and scope reasonably satisfactory to the
Administrative Agent. Such liens in personal property and deliveries in connection therewith will
be provided promptly, but in the case of Subsidiaries formed or acquired after the Closing Date, in
any event within with thirty days of formation or acquisition.

ARTICLE VIII

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, no Loan Party
shall, nor shall it permit any Subsidiary to, directly or indirectly:

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

     (a) Liens securing the Loan Obligations hereunder, including cash collateral and other
Adequate Assurance pledged to the L/C Issuer and the Swing Line Lender to secure obligations
of Defaulting Lender;

     (b) Liens in favor of a Lender or any of its Affiliates pursuant to a Swap Contract or
Treasury Management Agreement, but only to the extent that (i) the obligations under such
Swap Contract or Treasury Management Agreement are permitted under Section 8.03,
(ii) such Liens are on the same collateral that secures the Loan Obligations and (iii) the
obligations under such Swap Contract or Treasury Management Agreement and the Loan
Obligations share pari passu (subject to Section 9.03) in the collateral that is the
subject of such Liens;

 

 

(c) Liens existing on the date hereof and listed on Schedule 8.01 and any
renewals or extensions thereof, provided that the property covered thereby is not
increased;

     (d) Liens (other than Liens imposed under ERISA) for taxes, assessments or governmental
charges or levies 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;

     (e) statutory Liens of landlords and Liens of carriers, warehousemen, mechanics,
materialmen and suppliers and other Liens imposed by law or pursuant to customary
reservations or retentions of title arising in the ordinary course of business,
provided that such Liens secure only amounts not overdue for more than ninety days
or, if overdue for more than ninety days, are being contested in good faith by appropriate
proceedings for which adequate reserves determined in accordance with GAAP have been
established;

     (f) 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;

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

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

     (i) Liens securing judgments for the payment of money (or appeal or other surety bonds
relating to such judgments) not constituting an Event of Default under Section
9.01(h);

     (j) Liens securing Indebtedness permitted under Section 8.03(e);
provided that (i) such Liens do not at any time encumber any property other than the
property financed by such Indebtedness and (ii) such Liens attach to such property
concurrently with or within one hundred eighty days after the acquisition thereof;

     (k) licenses, sublicenses, leases or subleases granted to others not interfering in any
material respect with the business of the Borrower or any Subsidiary;

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

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

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

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

 

 

     (p) Liens arising on any real property as a result of any eminent domain, condemnation
or similar proceeding being commenced with respect to such real property;

     (q) Liens on insurance policies and the proceeds thereof securing the financing of the
premiums with respect thereto; and

     (r) other Liens securing liabilities (other than Indebtedness) in an amount not to
exceed $5 million in the aggregate at any time outstanding.

     8.02 Investments. Make any Investments, except:

     (a) Investments in the form of cash or Cash Equivalents;

     (b) Investments existing as of the Closing Date and set forth in Schedule 8.02
(including investments in Foreign Subsidiaries), and extensions and renewals thereof;

     (c) Investments in any Person that is a Domestic Loan Party, provided that in the case
of a loan or advance from a Foreign Subsidiary such loan or advance shall be subordinated
prior to the Loan Obligations in a manner and to an extent reasonably acceptable to the
Administrative Agent;

     (d) Investments by the Borrower and its Domestic Subsidiaries in Foreign Subsidiaries
after the Closing Date in an aggregate amount not to exceed $20 million in any twelve-month
period or $50 million from the Closing Date;

     (e) Investments by Foreign Subsidiaries in other Foreign Subsidiaries;

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

     (g) Guarantees permitted by Section 8.03;

     (h) Permitted Acquisitions;

     (i) loans and advances to employees of the Borrower or any Subsidiary for reimbursable
expenses in the ordinary course of business not to exceed $5 million in the aggregate at any
time outstanding;

     (j) Investments consisting of the non-cash portion of consideration received in
connection with Dispositions permitted pursuant to Section 8.05;

     (k) Investments consisting of Swap Contracts permitted by Section 8.03;

     (l) to the extent constituting Investments, the issuance of Letters of Credit for the
account of Subsidiaries; and

     (m) Investments of a nature not contemplated in the foregoing clauses in an amount not
to exceed $5 million in the aggregate at any time outstanding.

 

 

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

     (a) Indebtedness under the Loan Documents;

     (b) Indebtedness set forth in Schedule 8.03 and renewals, refinancings and
extensions thereof; provided that (i) the amount of such Indebtedness is not
increased at the time of such renewal, refinancing 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 (ii) the material terms taken as a whole of such
renewal, refinancing or extension are not materially less favorable to the Loan Parties and
their Subsidiaries than the terms of the Indebtedness being renewed, refinanced or extended;

     (c) intercompany Indebtedness permitted under Section 8.02;

     (d) 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
liabilities, commitments, investments, assets, or property held or reasonably anticipated by
such Person, or changes in the value of securities issued by such Person, and not for
purposes of speculation or taking a “market view;” and (ii) such Swap Contract does not
contain any provision exonerating the non-defaulting party from its obligation to make
payments on outstanding transactions to the defaulting party;

     (e) purchase money Indebtedness (including obligations in respect of Capital Leases or
Synthetic Leases) hereafter incurred to finance the purchase of fixed assets, and renewals,
refinancings and extensions thereof, provided that (i) the aggregate outstanding
principal amount of all such Indebtedness shall not exceed $10 million at any one time
outstanding; and (ii) such Indebtedness when incurred shall not exceed the purchase price of
the asset(s) financed;

     (f) contingent liabilities relating to customary indemnification obligations in favor
of sellers and purchasers in respect of Acquisitions and Dispositions permitted hereunder;

     (g) deferred purchase price obligations (including earn-out payments) in respect of
Permitted Acquisitions;

     (h) Indebtedness acquired or assumed in connection with an Acquisition permitted
hereunder, provided that (i) the Indebtedness was not was not incurred in connection with or
in anticipation of such Acquisition, and (ii) no Default or Event of Default shall exist
immediately before or immediately after giving effect thereto on a Pro Forma Basis;

     (i) unsecured Indebtedness for borrowed money of the Borrower in an aggregate principal
amount not to exceed $100 million, provided that (i) no Default or Event of Default shall
exist immediately before or immediately after giving effect thereto on a Pro Forma Basis,
(ii) the Borrower shall deliver a certificate from a Responsible Officer in form and detail
reasonably satisfactory to the Administrative Agent confirming the foregoing and
demonstrating compliance with the financial covenants after giving effect thereto on a Pro
Forma Basis, and (iii) the covenants, terms and conditions of such Indebtedness shall not be
more restrictive, in any material respect, than the covenants, terms and conditions
hereunder;

 

 

     (j) Guarantees with respect to Indebtedness permitted under this Section 8.03;

     (k) Indebtedness which may be deemed to exist pursuant to any performance, surety,
statutory, appeal bonds or similar obligations incurred in the ordinary course of business;

     (l) Indebtedness arising from the honoring by a bank or other financial institution of
a check, draft or similar instrument, in each case, drawn against insufficient funds in the
ordinary course of business, provided, that such Indebtedness is extinguished within
5 Business Days of its incurrence;

     (m) Indebtedness incurred in favor of insurance companies (or their financing
affiliates) in connection with financing of insurance premiums; provided that the
total of all such Indebtedness shall not exceed the aggregate amount of such unpaid
insurance premiums;

     (n) other Indebtedness not specified above, provided, that the principal amount of such
Indebtedness does not exceed $5 million in the aggregate at any time outstanding.

     8.04 Fundamental Changes. Merge, dissolve, liquidate or consolidate with or into
another Person, except that so long as no Event of Default exists or would result therefrom, (a)
the Borrower may merge or consolidate with any of its Subsidiaries provided that the Borrower is
the continuing or surviving Person, (b) any Subsidiary may merge or consolidate with any other
Subsidiary provided that if a Loan Party is a party to such transaction, the continuing or
surviving Person is a Loan Party, (c) subject to clause (a) above, the Borrower or any Subsidiary
may merge with any other Person in connection with a Permitted Acquisition provided that if the
Borrower is a party thereto then the Borrower is the continuing or surviving Person and (d) any
Subsidiary may dissolve, liquidate or wind up its affairs at any time provided that such
dissolution, liquidation or winding up, as applicable, could not reasonably be expected to have a
Material Adverse Effect.

     8.05 Dispositions. Make any Disposition unless (i) at least 75% of the consideration
paid in connection therewith shall be cash or Cash Equivalents paid contemporaneous with
consummation of the transaction and the total consideration shall be in an amount not less than the
fair market value of the property disposed of, (ii) if such transaction is a Sale and Leaseback
Transaction, such transaction is not prohibited hereunder, (iii) such transaction does not involve
the sale or other disposition of a minority equity interest in any Subsidiary, (iv) such
transaction does not involve a sale or other disposition of receivables other than receivables
owned by or attributable to other property concurrently being disposed of in a transaction
otherwise permitted under this Section 8.05, (v) no Default or Event of Default shall exist
immediately before or immediately after giving effect thereto on a Pro Forma Basis, (vi) no such
Disposition, together with all other Dispositions in the most recent trailing twelve-month period,
will involve property or business units generating more than 20% of Consolidated EBITDA for the
most recent trailing twelve-month period, (vii) no such Disposition, together with all other
Dispositions in the most recent trailing twelve-month period, will result in Consolidated EBITDA of
less than $100 million for the most recent trailing twelve-month period after giving effect thereto
on a Pro Forma Basis, and (viii) in the case of any Disposition, or series of related Dispositions,
of property or business units generating more than $10 million of Consolidated EBITDA for the most
recent trailing twelve-month period, the Borrower shall have delivered to the Administrative Agent
a Pro Forma Compliance Certificate providing details on the prospective Disposition, confirming the
foregoing conditions set forth above and demonstrating compliance with the financial covenants set
forth in Section 8.11 as of the end of the period of the four fiscal quarters most recently
ended for which the Borrower has delivered financial statements pursuant to Section 7.01(a)
or (b) after giving effect to such Disposition on a Pro Forma Basis.

 

 

     8.06 Restricted Payments. Declare or make, directly or indirectly, any Restricted
Payment, or incur any obligation (contingent or otherwise) to do so, except that so long as no
Event of Default shall exist immediately before or immediately after giving effect thereto:

     (a) each Subsidiary may declare and make Restricted Payments to Persons that own Equity
Interests 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 its Subsidiaries may declare and make dividend payments or other
distributions payable solely in common Equity Interests of such Person; and

     (c) the Borrower may declare and make other Restricted Payments; provided that
(i) no Default or Event of Default shall exist immediately before or immediately after
giving effect thereto on a pro forma basis, (ii) the Borrower shall deliver a certificate
from a Responsible Officer in form and detail reasonably satisfactory to the Administrative
Agent confirming the foregoing and demonstrating compliance with the financial covenants
after giving effect thereto on a Pro Forma Basis, and (iii) the aggregate amount of such
Restricted Payments shall not exceed an amount equal to the sum of (A) $10,000,000 plus (B)
50% of cumulative Consolidated Net Income from the Closing Date, plus (C) 50% of the Net
Cash Proceeds from an Equity Issuances.

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

     8.08 Transactions with Affiliates and Insiders; Management Fees.

     Enter into or permit to exist any transaction or series of transactions with any officer,
director or Affiliate of such Person other than (i) intercompany transactions among Loan Parties
expressly permitted by Section 8.02, Section 8.03, Section 8.04,
Section 8.05 or Section 8.06, (ii) normal and reasonable compensation and
reimbursement of expenses of officers and directors, and (iii) except as otherwise specifically
limited in this Agreement, other transactions which are entered into in the ordinary course of such
Person’s business on terms and conditions substantially as favorable to such Person as would be
obtainable by it in a comparable arms-length transaction with a Person other than an officer,
director or Affiliate.

     8.09 Burdensome Agreements. Enter into, or permit to exist, any Contractual
Obligation that (a) encumbers or restricts the ability of any such Person to (i) make Restricted
Payments to any Loan Party, (ii) pay any Indebtedness or other obligation owed to any Loan Party,
(iii) make loans or advances to any Loan Party, (iv) transfer any of its property to any Loan
Party, (v) pledge its property pursuant to the Loan Documents or any renewals, refinancings,
exchanges, refundings or extension thereof or (vi) act as a Loan Party pursuant to the Loan
Documents or any renewals, refinancings, exchanges, refundings or extension thereof, except (in
respect of any of the matters referred to in clauses (i)-(v) above) for (1) this Agreement and the
other Loan Documents, (2) any document or instrument governing Indebtedness incurred pursuant to
Section 8.03(e), provided that any such restriction contained therein relates only
to the asset or assets constructed or acquired in connection therewith, (3) any Permitted Lien or
any document or instrument governing any Permitted Lien, provided that any such restriction
contained therein relates only to the asset or assets subject to such Permitted Lien or (4)
customary restrictions and conditions contained in any agreement relating to the sale of any
property permitted under Section 8.05 pending the consummation of such sale, or (b)
requires the grant of any security for any obligation if such property is given as security for the
Obligations.

 

 

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

     8.11 Financial Covenants.

     (a) Consolidated Fixed Charge Coverage Ratio. As of the end of each fiscal quarter,
the Consolidated Fixed Charge Coverage Ratio will be not less than 2.25:1.0.

     (b) Consolidated Leverage Ratio. As of the end of each fiscal quarter, the
Consolidated Leverage Ratio will be not greater than:

	 	 	 	 	 
	Fiscal Quarters Ending	 	Consolidated Leverage Ratio
	Closing Date through March 31, 2012
	 	 	3.00:1.0	 
	June 30, 2012 through September 30, 2013
	 	 	2.75:1.0	 
	December 31, 2013 and thereafter
	 	 	2.50:1.0	 

     (c) Consolidated Net Worth. As of the end of each fiscal quarter, the Consolidated
Net Worth will be not less than $150 million.

     8.12 Organization Documents; Fiscal Year; Legal Name, State of Formation and Form of
Entity.

     (a) Amend, modify or change its Organization Documents in a manner materially adverse to the
Lenders.

     (b) Change its fiscal year.

     (c) Without providing ten (10) days prior written notice to the Administrative Agent, change
its name, state of formation or form of organization.

     8.13 Ownership of Subsidiaries. Notwithstanding any other provisions of this
Agreement to the contrary, (a) permit any Person (other than the Borrower or any Wholly Owned
Subsidiary) to own any Equity Interests of any Subsidiary, except to qualify directors where
required by applicable Law or to satisfy other requirements of applicable Law with respect to the
ownership of Equity Interests of Foreign Subsidiaries, or (b) permit any Subsidiary to issue or
have outstanding any shares of preferred Equity Interests.

ARTICLE IX

EVENTS OF DEFAULT AND REMEDIES

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

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

 

 

     (b) Specific Covenants.

     (i) Any Loan Party fails to perform or observe any term, covenant or agreement
contained in any of Section 7.01 or 7.02 and such failure continues
for fifteen days; or

     (ii) Any Loan Party fails to perform or observe any term, covenant or agreement
contained in any of Section 7.03(a), 7.05(a), 7.10 or
7.11 or Article VIII; or

     (c) Other Defaults. Any Loan Party fails to perform or observe any other
covenant or agreement (not specified in subsection (a) or (b) above) contained in any Loan
Document on its part to be performed or observed and such failure continues for thirty days;
or

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

     (e) Cross-Default. (i) The Borrower or any of its Subsidiaries fails to make
any payment when due (whether by scheduled maturity, required prepayment, acceleration,
demand, or otherwise) in respect of any Material Indebtedness; (ii) the Borrower or any of
its Subsidiaries fails to observe or perform any other agreement or condition relating to
any Material Indebtedness or contained in any instrument or agreement evidencing, securing
or relating thereto, or any other event occurs, the effect of which default or other event
is to cause, or to permit the holder or holders of such Material Indebtedness (or a trustee
or agent on behalf of such holder or holders) to cause, with the giving of notice if
required, such Material 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 Material Indebtedness to be made, prior to its stated
maturity; or (iii) 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 the Borrower or any of its Subsidiaries is the Defaulting Party (as
defined in such Swap Contract) or (B) any Termination Event (as so defined) under such Swap
Contract as to which the Borrower or any of its Subsidiaries is an Affected Party (as so
defined) and, in either event, the Swap Termination Value owed by the Borrower or such
Subsidiary as a result thereof is greater than $15,000,000; or

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

     (g) Inability to Pay Debts; Attachment. (i) The Borrower or any of its
Subsidiaries 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 thirty days after its issue or levy; or

     (h)
Judgments. There is entered against the Borrower or any of its Subsidiaries (i) one or more final judgments or orders for the payment of money in an
aggregate amount (as to all such judgments or orders) exceeding $15,000,000 (to the extent
not covered by independent third-party insurance as to which the insurer has been notified
of the claim and does not dispute coverage), or (ii) any one or more non-monetary final
judgments that have, or would reasonably be expected to have 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 ten 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 would reasonably be expected to result in liability
of one or more Loan Parties under Title IV of ERISA to the Pension Plan, Multiemployer Plan
or the PBGC in an aggregate amount in excess of $15,000,000, or (ii) one or more Loan
Parties 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 $15,000,000; or

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

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

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

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

     (b) declare the unpaid principal amount of all outstanding Loans, all interest accrued
and unpaid thereon, and all other amounts owing or payable hereunder or under any other Loan
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 Issuer all rights and
remedies available to it, the Lenders and the L/C Issuer under the Loan Documents or
applicable Law or at equity;

 

 

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 Issuer to make L/C Credit
Extensions shall automatically terminate, the unpaid principal amount of all outstanding Loans and
all interest and other amounts as aforesaid shall automatically become due and payable, and the
obligation of the Borrower to Cash Collateralize the L/C Obligations as aforesaid shall
automatically become effective, in each case without further act of the Administrative Agent or any
Lender.

     9.03 Application of Funds. After the exercise of remedies provided for in Section
9.02 (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 9.02), any amounts received on account of the Obligations, subject to the
provisions of Sections 2.14 and 2.15, shall be applied by the Administrative Agent
in the following order:

     First, to payment of that portion of the Obligations constituting fees,
indemnities, expenses and other amounts (including fees, charges and disbursements of
counsel to the Administrative Agent and the Collateral Agent, and amounts payable under
Article III) payable to the Administrative Agent and the Collateral Agent in their
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 Issuer (including fees, charges and disbursements of
counsel to the respective Lenders and the L/C Issuer and amounts payable under Article
III), ratably among them in proportion to the respective amounts described in this
clause Second payable to them;

     Third, to payment of that portion of the Obligations constituting accrued and
unpaid Letter of Credit Fees and interest on the Loans and L/C Borrowings and fees, premiums
and scheduled periodic payments, and any interest accrued thereon, due under any Swap
Contract between the Borrower or any of its Subsidiaries and any Lender or any Affiliate of
a Lender to the extent such Swap Contract is permitted by Section 8.03(d), ratably
among the Lenders (and, in the case of such Swap Contracts, Affiliates of Lenders) and the
L/C Issuer in proportion to the respective amounts described in this clause Third
held by them;

     Fourth, to (a) payment of that portion of the Obligations constituting unpaid
principal of the Loans and L/C Borrowings, (b) payment of breakage, termination or other
payments, and any interest accrued thereon, due under any Swap Contract between the Borrower
or any of its Subsidiaries and any Lender or any Affiliate of a Lender to the extent such
Swap Contract is permitted by Section 8.03(d), (c) payments of amounts due under any
Treasury Management Agreement between the Borrower or any of its Subsidiaries and any Lender
or any Affiliate of a Lender and (d) 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 Lenders (and, in the case of such Swap Contracts and Treasury Management
Agreements, Affiliates of Lenders) and the L/C Issuer in proportion to the respective
amounts described in this clause Fourth 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 Section 2.03(c) and 2.14, amounts used to Cash Collateralize the
aggregate undrawn amount of Letters of Credit pursuant to clause Fourth above shall be
applied to satisfy drawings under such Letters of Credit as they occur. If any amount remains on
deposit as Cash Collateral after all Letters of Credit

 

 

have either been fully drawn or expired, such remaining amount shall be applied to the other
Obligations, if any, in the order set forth above.

ARTICLE X

ADMINISTRATIVE AGENT AND COLLATERAL AGENT

     10.01 Appointment and Authorization of Administrative Agent and Collateral Agent.

     (a) Each of the Lenders and the L/C Issuer hereby irrevocably appoints Bank of America to act
on its behalf as the Administrative Agent hereunder and under the other Loan Documents and
authorizes the Administrative Agent to take such actions on its behalf and to exercise such powers
as are delegated to the Administrative Agent by the terms hereof or thereof, together with such
actions and powers as are reasonably incidental thereto. The provisions of this Article are solely
for the benefit of the Administrative Agent, the Lenders and the L/C Issuer, and neither the
Borrower nor any other Loan Party shall have rights as a third party beneficiary of any of such
provisions.

     (b) Each of the Lenders hereby irrevocably appoints, designates and authorizes the Collateral
Agent to take such action on its behalf under the provisions of this Agreement and each Collateral
Document and to exercise such powers and perform such duties as are expressly delegated to it by
the terms of this Agreement or any Collateral Document, together with such powers as are reasonably
incidental thereto. Notwithstanding any provision to the contrary contained elsewhere herein or in
any Collateral Document, the Collateral Agent shall not have any duties or responsibilities, except
those expressly set forth herein or therein, nor shall the Collateral Agent have or be deemed to
have any fiduciary relationship with any Lender or participant, and no implied covenants,
functions, responsibilities, duties, obligations or liabilities shall be read into this Agreement
or any Collateral Document or otherwise exist against the Collateral Agent. Without limiting the
generality of the foregoing sentence, the use of the term “agent” herein and in the Collateral
Documents with reference to the Collateral Agent is not intended to connote any fiduciary or other
implied (or express) obligations arising under agency doctrine of any applicable Law. Instead,
such term is used merely as a matter of market custom, and is intended to create or reflect only an
administrative relationship between independent contracting parties. The Collateral Agent shall
act on behalf of the Lenders with respect to any Collateral and the Collateral Documents, and the
Collateral Agent shall have all of the benefits and immunities (i) provided to the Administrative
Agent under the Loan Documents with respect to any acts taken or omissions suffered by the
Collateral Agent in connection with any Collateral or the Collateral Documents as fully as if the
term “Administrative Agent” as used in such Loan Documents included the Collateral Agent with
respect to such acts or omissions, and (ii) as additionally provided herein or in the Collateral
Documents with respect to the Collateral Agent.

     10.02 Rights as a Lender.

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

 

 

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

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

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

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

     The Administrative Agent shall not be liable for any action taken or not taken by it (i) with
the consent or at the request of the Required Lenders (or such other number or percentage of the
Lenders as shall be necessary, or as the Administrative Agent shall believe in good faith shall be
necessary, under the circumstances as provided in Sections 11.01 and 9.02) or (ii)
in the absence of its own gross negligence or willful misconduct. The Administrative Agent shall
be deemed not to have knowledge of any Default unless and until notice describing such Default is
given to the Administrative Agent by a Loan Party, a Lender or the L/C Issuer.

     The Administrative Agent shall not be responsible for or have any duty to ascertain or inquire
into (i) any statement, warranty or representation made in or in connection with this Agreement or
any other Loan Document, (ii) the contents of any certificate, report or other document delivered
hereunder or thereunder or in connection herewith or therewith, (iii) the performance or observance
of any of the covenants, agreements or other terms or conditions set forth herein or therein or the
occurrence of any Default, (iv) the validity, enforceability, effectiveness or genuineness of this
Agreement, any other Loan Document or any other agreement, instrument or document, or 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 (vi) the satisfaction of any condition set forth in
Article V or elsewhere herein, other than to confirm receipt of items expressly required to
be delivered to the Administrative Agent.

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

 

 

Credit. The Administrative Agent may consult with legal counsel (who may be counsel for the
Loan Parties), independent accountants and other experts selected by it, and shall not be liable
for any action taken or not taken by it in accordance with the advice of any such counsel,
accountants or experts.

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

     10.06 Resignation of Administrative Agent. The Administrative Agent may at any time
give notice of its resignation to the Lenders, the L/C Issuer 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 Issuer, 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 Issuer 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 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 11.04 shall continue in effect for the benefit of such retiring Administrative
Agent, its sub-agents and their respective Related Parties in respect of any actions taken or
omitted to be taken by any of them while the retiring Administrative Agent was acting as
Administrative Agent.

     Any resignation by Bank of America as Administrative Agent pursuant to this Section shall also
constitute its resignation as Collateral Agent, L/C Issuer and Swing Line Lender. 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
Collateral Agent, L/C Issuer and Swing Line Lender, (ii) the retiring Collateral Agent, L/C Issuer
and Swing Line Lender shall be discharged from all of their respective duties and obligations
hereunder or under the other Loan Documents, and (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.

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

     10.08 No Other Duties. Anything herein to the contrary notwithstanding, none of the
bookrunners, arrangers, syndication agents, documentation agents or co-agents 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, Collateral Agent, a Lender or the L/C
Issuer hereunder.

     10.09 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 arising under
the Loan Documents that are owing and unpaid and to file such other documents as may be
necessary or advisable in order to have the claims of the Lenders, the L/C Issuer and the
Administrative Agent (including any claim for the reasonable compensation, expenses,
disbursements and advances of the Lenders, the L/C Issuer and the Administrative Agent and
their respective agents and counsel and all other amounts due the Lenders, the L/C Issuer
and the Administrative Agent under Sections 2.03(i) and (j), 2.09
and 11.04) allowed in such judicial proceeding; and

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

and any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official
in any such judicial proceeding is hereby authorized by each Lender and the L/C Issuer to make such
payments to the Administrative Agent and, in the event that the Administrative Agent shall consent
to the making of such payments directly to the Lenders and the L/C Issuer, to pay to the
Administrative Agent any amount due for the reasonable compensation, expenses, disbursements and
advances of the Administrative Agent and its agents and counsel, and any other amounts due the
Administrative Agent under Sections 2.09 and 11.04.

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

 

 

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

     (a) to release any Lien on any property granted to or held under any Loan Document (i)
upon termination of the Commitments and payment in full of all Obligations under the Loan
Documents (other than contingent indemnification obligations) and the expiration or
termination of all Letters of Credit (other than Letters of Credit as to which other
arrangements satisfactory to the Administrative Agent and the L/C Issuer shall have been
made), (ii) that is transferred or to be transferred as part of or in connection with any
Disposition permitted hereunder or under any other Loan Document or any Recovery Event, or
(iii) is approved in accordance with Section 11.01;

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

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

     Upon request by the Administrative Agent or the Collateral Agent at any time, the Required
Lenders will confirm in writing the authority of the Collateral Agent to release or subordinate its
interest in particular types or items of property, and of the Administrative Agent to release any
Guarantor from its obligations under the Guaranty pursuant to this Section 10.10.

ARTICLE XI

MISCELLANEOUS

     11.01 Amendments, Etc. Except as expressly provided hereinbelow, no amendment or
waiver of any provision of this Agreement or any other Loan Document, and no consent to any
departure by the Borrower or any other Loan Party therefrom, shall be effective unless in writing
signed by the Required Lenders (or by the Administrative Agent on behalf of the Required Lenders
upon receipt of a consent and direction letter from 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:

     (a) no such amendment, waiver or consent (however characterized) shall effective
without the written consent of each Lender directly affected thereby (whose consent shall be
sufficient therefor without the consent of the Required Lenders) to:

     (i) extend or increase the Commitment of any Lender (or reinstate any
Commitment terminated pursuant to Section 9.02) without the written consent
of such Lender (it being understood and agreed that a waiver of any condition
precedent set forth in Section 5.02, or of any Default or Event of Default,
or a mandatory reduction in Commitments shall not be considered an extension or
increase in Commitments for purposes hereof);

 

 

     (ii) postpone any date fixed by this Agreement or any other Loan Document for
any payment (excluding mandatory prepayments) of principal, interest, fees or other
amounts due to the Lenders (or any of them) or any scheduled reduction of
Commitments hereunder or under any other Loan Document without the written consent
of each Lender entitled to receive such payment or whose Commitments are to be
reduced;

     (iii) reduce the principal of, or the rate of interest specified herein on, any
Loan or L/C Borrowing, or (subject to clause (i) of the final proviso to this
Section 11.01) any fees or other amounts payable hereunder or under any
other Loan Document without the written consent of each Lender entitled to receive
such amount; provided, however, that only the consent of the
Required Lenders shall be necessary to (A) amend the definition of “Default Rate” or
waive any obligation of the Borrower to pay interest or Letter of Credit Fees at the
Default Rate or (B) 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;

     (iv) change any provision of this Section 11.01 or the definition of
“Required Lenders” without the written consent of each Lender directly affected
thereby;

     (v) release all or substantially all of the Collateral without the written
consent of each Lender whose Obligations are secured by such Collateral; or

     (vi) release the Borrower without the consent of each Lender, or, except in
connection with a transaction permitted under Section 8.04 or Section
8.05, all or substantially all of the value of the Guaranty without the written
consent of each Lender whose Obligations are guarantied thereby, except to the
extent such release is permitted pursuant to Section 10.10 (in which case
such release may be made by the Administrative Agent acting alone);

     (b) unless also signed by the L/C Issuer, no amendment, waiver or consent shall affect
the rights or duties of the L/C Issuer under this Agreement or any Issuer Document relating
to any Letter of Credit issued or to be issued by it;

     (c) unless also signed by the Swing Line Lender, no amendment, waiver or consent shall
affect the rights or duties of the Swing Line Lender under this Agreement; or

     (d) unless also signed by the Administrative Agent, no amendment, waiver or consent
shall affect the rights or duties of the Administrative Agent under this Agreement or any
other Loan Document;

provided, however, that notwithstanding anything to the contrary herein, (i) the
Fee Letters may be amended, or rights or privileges thereunder waived, in a writing executed only
by the parties thereto, (ii) no Defaulting Lender shall have any right to approve or disapprove any
amendment, waiver or consent hereunder (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 (A) the Commitment of such Lender
may not be increased or extended without the consent of such Lender and (B) 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, (iii) each Lender is entitled to vote as such Lender sees fit on any
bankruptcy reorganization plan that affects the Loans, and each Lender

 

 

acknowledges that the provisions of Section 1126(c) of the Bankruptcy Code of the United States
supersedes the unanimous consent provisions set forth herein and (iv) the Required Lenders shall
determine whether or not to allow a Loan Party to use cash collateral in the context of a
bankruptcy or insolvency proceeding and such determination shall be binding on all of the Lenders.

Notwithstanding any provision herein to the contrary, this Agreement may be amended with the
written consent of the Required Lenders, the Administrative Agent and the Loan Parties (i) to add
one or more additional revolving credit or term loan facilities to this Agreement and to permit the
extensions of credit and all related obligations and liabilities arising in connection therewith
from time to time outstanding to share ratably (or on a basis subordinated to the existing
facilities hereunder) in the benefits of this Agreement and the other Loan Documents with the
obligations and liabilities from time to time outstanding in respect of the existing facilities
hereunder, and (ii) in connection with the foregoing, to permit, as deemed appropriate by the
Administrative Agent and approved by the Required Lenders, the Lenders providing such additional
credit facilities to participate in any required vote or action required to be approved by the
Required Lenders or by any other number, percentage or class of Lenders hereunder.

     11.02 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 any Loan Party, the Administrative Agent, the L/C Issuer or the Swing Line
Lender, to the address, telecopier number, electronic mail address or telephone number
specified for such Person on Schedule 11.02; 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 Issuer hereunder may be delivered or furnished by electronic communication (including
e-mail and Internet or intranet websites) pursuant to procedures approved by the Administrative
Agent, provided that the foregoing shall not apply to notices to any Lender or the L/C
Issuer pursuant to Article II if such Lender or the L/C Issuer, as applicable, has notified
the Administrative Agent that it is incapable of receiving notices under such Article by electronic
communication. The Administrative Agent or the Borrower may, in its discretion, agree to accept
notices and other communications to it hereunder by

 

 

electronic communications pursuant to procedures approved by it, provided that
approval of such procedures may be limited to particular notices or communications.

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

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

     (d) Change of Address, Etc. Each Loan Party, the Administrative Agent, the L/C Issuer
and the Swing Line Lender may change its address, telecopier or telephone number for notices and
other communications hereunder by notice to the other parties hereto. Each other Lender may change
its address, telecopier or telephone number for notices and other communications hereunder by
notice to each Loan Party, the Administrative Agent, the L/C Issuer and the Swing Line Lender. In
addition, each Lender agrees to notify the Administrative Agent from time to time to ensure that
the Administrative Agent has on record (i) an effective address, contact name, telephone number,
telecopier number and electronic mail address to which notices and other communications may be sent
and (ii) accurate wire instructions for such Lender. Furthermore, each Public Lender agrees to
cause at least one individual at or on behalf of such Public Lender to at all times have selected
the “Private Side Information” or similar designation on the content declaration screen of the
Platform in order to enable such Public Lender or its delegate, in accordance with such Public
Lender’s compliance procedures and applicable Law, including United States Federal and state
securities Laws, to make reference to Borrower Materials that are not made available through the
“Public Side Information” portion of the Platform and that may contain material non-public
information with respect to the Borrower or its securities for purposes of United States Federal or
state securities laws.

     (e) Reliance by Administrative Agent, L/C Issuer and Lenders. The Administrative
Agent, the L/C Issuer and the Lenders shall be entitled to rely and act upon any notices (including
telephonic

 

 

Loan Notices and Swing Line Loan Notices) purportedly given by or on behalf of any Loan Party
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 Loan Parties shall
indemnify the Administrative Agent, the L/C Issuer, each Lender and the Related Parties of each of
them from all losses, costs, expenses and liabilities resulting from the reliance by such Person on
each notice purportedly given by or on behalf of a Loan Party. All telephonic notices to and other
telephonic communications with the Administrative Agent may be recorded by the Administrative
Agent, and each of the parties hereto hereby consents to such recording.

     11.03 No Waiver; Cumulative Remedies; Enforcement. No failure by any Lender, the 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 shall operate as a waiver thereof; nor shall any single
or partial exercise of any right, remedy, power or privilege hereunder or under any other Loan
Document (including the imposition of the Default Rate) 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 9.02 for the benefit of all the Lenders and
the L/C Issuer; provided, however, that the foregoing shall not prohibit (a) the
Administrative Agent 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) the L/C Issuer or the Swing Line Lender from exercising the rights and remedies that
inure to its benefit (solely in its capacity as L/C Issuer or Swing Line Lender, as the case may
be) hereunder and under the other Loan Documents, (c) any Lender from exercising setoff rights in
accordance with Section 11.08 (subject to the terms of Section 2.13), or (d) any
Lender from filing proofs of claim or appearing and filing pleadings on its own behalf during the
pendency of a proceeding relative to any Loan Party under any Debtor Relief Law; and
provided further, that if at any time there is no Person acting as Administrative
Agent 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 9.02 and (ii) in
addition to the matters set forth in clauses (b), (c) and (d) of the preceding proviso and subject
to Section 2.13, any Lender may, with the consent of the Required Lenders, enforce any
rights and remedies available to it and as authorized by the Required Lenders.

     11.04 Expenses; Indemnity; and Damage Waiver.

     (a) Costs and Expenses. The Loan Parties shall pay (i) all reasonable out-of-pocket
expenses incurred by the Administrative Agent and its Affiliates (including the reasonable fees,
charges and disbursements of counsel for the Administrative Agent) in connection with the
syndication of the credit facilities provided for herein, the preparation, negotiation, execution,
delivery and administration of this Agreement and the other Loan Documents or any amendments,
modifications or waivers of the provisions hereof or thereof (whether or not the transactions
contemplated hereby or thereby shall be consummated), (ii) all reasonable out-of-pocket expenses
incurred by the L/C Issuer in connection with the issuance, amendment, renewal or extension of any
Letter of Credit or any demand for payment thereunder and (iii) all out-of-pocket expenses incurred
by the Administrative Agent, any Lender or the L/C Issuer (including the fees, charges and
disbursements of any counsel for the Administrative Agent, any Lender or the L/C Issuer), in
connection with the enforcement or protection of its rights (A) in connection with

 

 

this Agreement and the other Loan Documents, including its rights under this Section, or (B) in
connection with the Loans made or Letters of Credit issued hereunder, including all such
out-of-pocket expenses incurred during any workout, restructuring or negotiations in respect of
such Loans or Letters of Credit.

     (b) Indemnification by the Loan Parties. The Loan Parties shall indemnify the
Administrative Agent (and any sub-agent thereof), each Lender and the 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), and shall indemnify and hold harmless each Indemnitee from all fees and time charges
and disbursements for attorneys who may be employees of any Indemnitee, incurred by any Indemnitee
or asserted against any Indemnitee by any third party or by any Loan Party arising out of, in
connection with, or as a result of (i) the execution or delivery of this Agreement, any other Loan
Document or any agreement or instrument contemplated hereby or thereby, the performance by the
parties hereto of their respective obligations hereunder or thereunder, the consummation of the
transactions contemplated hereby or thereby, or, in the case of the Administrative Agent (and any
sub-agent thereof) and its Related Parties only, the administration of this Agreement and the other
Loan Documents (including in respect of any matters addressed in Section 3.01), (ii) any
Loan or Letter of Credit or the use or proposed use of the proceeds therefrom (including any
refusal by the L/C Issuer to honor a demand for payment under a Letter of Credit if the documents
presented in connection with such demand do not strictly comply with the terms of such Letter of
Credit), (iii) any actual or alleged presence or release of Hazardous Materials on or from any
property owned or operated by the Borrower or any Subsidiary, or any Environmental Liability
related in any way to the Borrower or any Subsidiary, 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 any Loan Party, and
regardless of whether any Indemnitee is a party thereto; provided that such indemnity shall
not, as to any Indemnitee, be available to the extent that such losses, claims, damages,
liabilities or related expenses (x) are determined by a court of competent jurisdiction by final
and nonappealable judgment to have resulted from the gross negligence or willful misconduct of such
Indemnitee or (y) result from a claim brought by any Loan Party against an Indemnitee for breach in
bad faith of such Indemnitee’s obligations hereunder or under any other Loan Document, if 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 Loan Parties for any reason fail
to indefeasibly pay any amount required under subsection (a) or (b) of this Section to be paid by
them to the Administrative Agent (or any sub-agent thereof), the L/C Issuer or any Related Party of
any of the foregoing, each Lender severally agrees to pay to the Administrative Agent (or any such
sub-agent), the L/C Issuer or such Related Party, as the case may be, such Lender’s pro rata share
(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 the L/C Issuer in its capacity as such, or against
any Related Party of any of the foregoing acting for the Administrative Agent (or any such
sub-agent) or L/C Issuer in connection with such capacity. The obligations of the Lenders under
this subsection (c) are subject to the provisions of Section 2.12(d).

     (d) Waiver of Consequential Damages, Etc. To the fullest extent permitted by
applicable law, no Loan Party shall assert, and each Loan Party 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 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, the L/C Issuer and the Swing Line Lender, the replacement of any Lender, the
termination of the Commitments and the repayment, satisfaction or discharge of all the other
Obligations.

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

     11.06 Successors and Assigns.

     (a) Successors and Assigns Generally. The provisions of this Agreement and the other
Loan Documents shall be binding upon and inure to the benefit of the parties hereto and thereto and
their respective successors and assigns permitted hereby, except that the Borrower may not assign
or otherwise transfer any of its rights or obligations hereunder or thereunder without the prior
written consent of the Administrative Agent and each Lender and no Lender may assign or otherwise
transfer any of its rights or obligations hereunder except (i) to an assignee in accordance with
the provisions of subsection (b) of this Section, (ii) by way of participation in accordance with
the provisions of subsection (d) of this Section or (iii) by way of pledge or assignment of a
security interest subject to the restrictions of subsection (f) of this Section (and any other
attempted assignment or transfer by any party hereto shall be null and void). Nothing in this
Agreement, expressed or implied, shall be construed to confer upon any Person (other than the
parties hereto, their respective successors and assigns permitted hereby, Participants to the
extent provided in subsection (d) of this Section and, to the extent expressly contemplated hereby,
the Related Parties of each of the Administrative Agent, the L/C Issuer and the Lenders) any legal
or equitable right, remedy or claim under or by reason of this Agreement.

     (b) Assignments by Lenders. Any Lender may at any time assign to one or more
assignees all or a portion of its rights and obligations under this Agreement and the other Loan
Documents (including all or a portion of its Commitment and the Loans (including for purposes of
this subsection (b),

 

 

participations in L/C Obligations and in Swing Line Loans) at the time owing to it);
provided that any such assignment shall be subject to the following conditions:

     (i) Minimum Amounts.

     (A) in the case of an assignment of the entire remaining amount of the
assigning Lender’s Commitment and the related 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 million in the case of an assignment of a Revolving Commitment (and the
related Revolving Loans thereunder) and $5 million in the case of an assignment of
the Term Loan unless (x) the Revolving Commitment (and the related Revolving Loans
thereunder) or the Term Loan subject to such assignment is the full amount of the
assignor’s Revolving Commitment (and the related Revolving Loans thereunder) or Term
Loan, as applicable, or (y) each of the Administrative Agent and, so long as no
Event of Default has occurred and is continuing, the Borrower otherwise consents
(each such consent not to be unreasonably withheld or delayed); provided,
however, that concurrent assignments to members of an Assignee Group and
concurrent assignments from members of an Assignee Group to a single Eligible
Assignee (or to an Eligible Assignee and members of its Assignee Group) will be
treated as a single assignment for purposes of determining whether such minimum
amount has been met.

     (ii) Proportionate Amounts. Each partial assignment shall be made as an
assignment of a proportionate part of all the assigning Lender’s rights and obligations
under this Agreement with respect to the Loans or the Commitment assigned, except that this
clause (ii) shall not (A) apply to the Swing Line Lender’s rights and obligations in respect
of Swing Line Loans or (B) prohibit any Lender from assigning all or a portion of its rights
and obligations in respect of its Revolving Commitment (and the related Revolving Loans
thereunder) and its outstanding Term Loan on a non-pro rata basis;

     (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 for assignments in respect of
(1) any

 

 

Term Loan Commitment or Revolving Commitment if such assignment is to a Person
that is not a Lender with a Commitment in respect of the Commitment subject to such
assignment, an Affiliate of such Lender or an Approved Fund with respect to such
Lender and (2) any Term Loan to a Person that is not a Lender, an Affiliate of a
Lender or an Approved Fund; and

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

     (D) the consent of the Swing Line Lender (such consent not to be unreasonably
withheld or delayed) shall be required for any assignment in respect of Revolving
Loans and Revolving Commitments.

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

     (v) No Assignment to Certain Persons. No such assignment shall be made to (A)
the Borrower or any of the Borrower’s Affiliates or Subsidiaries, (B) 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) 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 and Swing Line Loans in accordance with
its Revolving Commitment 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 11.04 with respect to facts and
circumstances occurring prior to the effective date of such assignment). Upon request, the
Borrower (at its expense) shall execute and deliver a Note to the assignee Lender. Any assignment
or transfer by a Lender of rights or obligations under this Agreement that does not comply with
this subsection shall be treated for purposes of this Agreement as a sale by such Lender of a
participation in such rights and obligations in accordance with subsection (d) of this Section.

     (c) Register. The Administrative Agent, acting solely for this purpose as an agent of
the Borrower (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, 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 and/or Swing Line Loans) owing to it); provided
that (i) such Lender’s obligations under this Agreement shall remain unchanged, (ii) such Lender
shall remain solely responsible to the other parties hereto for the performance of such
obligations, and (iii) the Borrower, the Administrative Agent, the Lenders and the L/C Issuer shall
continue to deal solely and directly with such Lender in connection with such Lender’s rights and
obligations under this Agreement. Any agreement or instrument pursuant to which a Lender sells
such a participation shall provide that such Lender shall retain the sole right to enforce this
Agreement and to approve any amendment, modification or waiver of any provision of this Agreement;
provided that such agreement or instrument may provide that such Lender will not, without
the consent of the Participant, agree to any amendment, waiver or other modification described in
the first proviso of Section 11.01 that affects such Participant. Subject to subsection
(e) of this Section, the Borrower agrees that each Participant shall be entitled to the benefits of
Sections 3.01, 3.04 and 3.05 to the same extent as if it were a Lender and
had acquired its interest by assignment pursuant to subsection (b) of this Section. To the extent
permitted by Law, each Participant also shall be entitled to the benefits of Section 11.08
as though it were a Lender, provided such Participant agrees to be subject to Section
2.13 as though it were a Lender.

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

 

 

     (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 or Swing Line Lender after Assignment. Notwithstanding
anything to the contrary contained herein, if at any time Bank of America assigns all of its
Revolving Commitment and Revolving Loans pursuant to subsection (b) above, Bank of America may, (i)
upon thirty days’ notice to the Borrower and the Lenders, resign as L/C Issuer and/or (ii) upon
thirty days’ notice to the Borrower, resign as Swing Line Lender. In the event of any such
resignation as L/C Issuer or Swing Line Lender, the Borrower shall be entitled to appoint from
among the Lenders a successor L/C Issuer or Swing Line Lender hereunder (subject to such Lender’s
consent); 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 or Swing Line Lender, as
the case may be. If Bank of America resigns as L/C Issuer, it shall retain all the rights, powers,
privileges and duties of the L/C Issuer hereunder with respect to all Letters of Credit outstanding
as of the effective date of its resignation as L/C Issuer and all L/C Obligations with respect
thereto (including the right to require the Lenders to make Base Rate Loans or fund risk
participations in Unreimbursed Amounts pursuant to Section 2.03(c)). If Bank of America
resigns as Swing Line Lender, it shall retain all the rights of the Swing Line Lender provided for
hereunder with respect to Swing Line Loans made by it and outstanding as of the effective date of
such resignation, including the right to require the Lenders to make Base Rate Loans or fund risk
participations in outstanding Swing Line Loans pursuant to Section 2.04(c). Upon the
appointment of a successor L/C Issuer and/or Swing Line Lender, (1) such successor shall succeed to
and become vested with all of the rights, powers, privileges and duties of the retiring L/C Issuer
or Swing Line Lender, as the case may be, and (2) the successor L/C Issuer shall issue letters of
credit in substitution for the Letters of Credit, if any, outstanding at the time of such
succession or make other arrangements satisfactory to Bank of America to effectively assume the
obligations of Bank of America with respect to such Letters of Credit.

     11.07 Treatment of Certain Information; Confidentiality. Each of the Administrative
Agent, the Lenders and the L/C Issuer agrees to maintain the confidentiality of the Information (as
defined below), except that Information may be disclosed (a) to its Affiliates and to its and its
Affiliates’ respective partners, directors, officers, employees, agents, trustees, advisors and
representatives (it being understood that the Persons to whom such disclosure is made will be
informed of the confidential nature of such Information and instructed to keep such Information
confidential), (b) to the extent requested by any regulatory authority purporting to have
jurisdiction over it (including any self-regulatory authority, such as the National Association of
Insurance Commissioners), (c) to the extent required by applicable laws or regulations or by any
subpoena or similar legal process, (d) to any other party hereto, (e) in connection with the
exercise of any remedies hereunder or under any other Loan Document or any action or proceeding
relating to this Agreement or any other Loan Document or the enforcement of rights hereunder or
thereunder, (f) subject to an agreement containing provisions substantially the same as those of
this Section, to (i) any assignee of or Participant in, or any prospective assignee of or
Participant in, any of its rights or obligations under this Agreement or any Eligible Assignee
invited to become a Lender pursuant to Section 2.01(c) or (ii) any actual or prospective
counterparty (or its advisors) to any swap or derivative transaction relating to a Loan Party and
its obligations, (g) with the consent of the Borrower or (h) to the extent such Information (x)
becomes publicly available other than as a result of a breach of this Section or (y) becomes
available to the Administrative Agent, any Lender, the L/C Issuer or any of their respective
Affiliates on a nonconfidential basis from a source other than the Borrower.

     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

 

 

(x) any such information that is available to the Administrative Agent, any Lender or the L/C
Issuer on a nonconfidential basis prior to disclosure by the Borrower or any Subsidiary and (y) any
such information received from the Borrower or any Subsidiary after the date hereof which is
clearly identified at the time of delivery as nonconfidential. 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 Issuer acknowledges that (a) the
Information may include material non-public information concerning the Borrower or a Subsidiary, as
the case may be, (b) it has developed compliance procedures regarding the use of material
non-public information and (c) it will handle such material non-public information in accordance
with applicable Law, including United States federal and state securities Laws.

     11.08 Set-off. If an Event of Default shall have occurred and be continuing, each
Lender, the L/C Issuer and each of their respective Affiliates is hereby authorized at any time and
from time to time, to the fullest extent permitted by applicable law, to set off and apply any and
all deposits (general or special, time or demand, provisional or final, in whatever currency) at
any time held and other obligations (in whatever currency) at any time owing by such Lender, the
L/C Issuer or any such Affiliate to or for the credit or the account of any Loan Party against any
and all of the obligations of such Loan Party now or hereafter existing under this Agreement or any
other Loan Document to such Lender or the L/C Issuer, irrespective of whether or not such Lender or
the L/C Issuer shall have made any demand under this Agreement or any other Loan Document and
although such obligations of such Loan Party may be contingent or unmatured or are owed to a branch
or office of such Lender or the L/C Issuer different from the branch or office holding such deposit
or obligated on such indebtedness; provided that in the event that any Defaulting Lender shall
exercise any such right of setoff, (x) all amounts so set off shall be paid over immediately to the
Administrative Agent for further application in accordance with the provisions of Section
2.15 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, the L/C Issuer and their respective Affiliates under
this Section are in addition to other rights and remedies (including other rights of setoff) that
such Lender, the L/C Issuer or their respective Affiliates may have. Each Lender and the L/C
Issuer agrees to notify 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. Notwithstanding the provisions of this Section
11.08, if at any time any Lender, the L/C Issuer or any of their respective Affiliates
maintains one or more deposit accounts for the Borrower or any other Loan Party into which Medicare
and/or Medicaid receivables are deposited, such Person shall waive the right of setoff set forth
herein.

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

 

 

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

     11.11 Survival of Representations and Warranties. All representations and warranties
made hereunder and in any other Loan Document or other document delivered pursuant hereto or
thereto or in connection herewith or therewith shall survive the execution and delivery hereof and
thereof. Such representations and warranties have been or will be relied upon by the
Administrative Agent and each Lender, regardless of any investigation made by the Administrative
Agent or any Lender or on their behalf and notwithstanding that the Administrative Agent or any
Lender may have had notice or knowledge of any Default at the time of any Credit Extension, and
shall continue in full force and effect as long as any Loan or any other Obligation hereunder shall
remain unpaid or unsatisfied or any Letter of Credit shall remain outstanding.

     11.12 Severability. If any provision of this Agreement or the other Loan Documents is
held to be illegal, invalid or unenforceable, (a) the legality, validity and enforceability of the
remaining provisions of this Agreement and the other Loan Documents shall not be affected or
impaired thereby and (b) the parties shall endeavor in good faith negotiations to replace the
illegal, invalid or unenforceable provisions with valid provisions the economic effect of which
comes as close 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 11.12, if and to the extent that the enforceability of any provisions in this
Agreement relating to Defaulting Lenders shall be limited by Debtor Relief Laws, as determined in
good faith by the Administrative Agent, the L/C Issuer or the Swing Line Lender, as applicable,
then such provisions shall be deemed to be in effect only to the extent not so limited.

     11.13 Replacement of Lenders. If (i) any Lender requests compensation under
Section 3.04, (ii) the Borrower is required to pay any additional amount to any Lender or
any Governmental Authority for the account of any Lender pursuant to Section 3.01, (iii) a
Lender (a “Non-Consenting Lender”) does not consent to a proposed change, waiver, discharge
or termination with respect to any Loan Document that has been approved by the Required Lenders as
provided in Section 11.01 but requires unanimous consent of all Lenders or all Lenders
directly affected thereby (as applicable) or (iv) any Lender is a Defaulting Lender, then the
Borrower may, at its sole expense and effort, upon notice to such Lender and the Administrative
Agent, require such Lender to assign and delegate, without recourse (in accordance with and subject
to the restrictions contained in, and consents required by, Section 11.06), all of its
interests, rights and obligations under this Agreement and the related Loan Documents to an
assignee that shall assume such obligations (which assignee may be another Lender, if a Lender
accepts such assignment), provided that:

     (a) the Borrower shall have paid to the Administrative Agent the assignment fee
specified in Section 11.06(b), unless waived by the Administrative Agent in its
discretion;

 

 

     (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);

     (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;

     (d) such assignment does not conflict with applicable Laws; and

     (e) in the case of any such assignment resulting from a Non-Consenting Lender’s failure
to consent to a proposed change, waiver, discharge or termination with respect to any Loan
Document, the applicable assignee consents to the proposed change, waiver, discharge or
termination; provided that the failure by such Non-Consenting Lender to execute and
deliver an Assignment and Assumption shall not impair the validity of the removal of such
Non-Consenting Lender and the mandatory assignment of such Non-Consenting Lender’s
Commitments and outstanding Loans and participations in L/C Obligations and Swing Line Loans
pursuant to this Section 11.13 shall nevertheless be effective without the execution
by such Non-Consenting Lender of an Assignment and Assumption.

     A Lender shall not be required to make any such assignment or delegation if, prior thereto, as
a result of a waiver by such Lender or otherwise, the circumstances entitling the Borrower to
require such assignment and delegation cease to apply.

     11.14 Governing Law; Jurisdiction; Etc.

     (a) GOVERNING LAW. THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE
WITH, THE LAW OF THE STATE OF ILLINOIS.

     (b) SUBMISSION TO JURISDICTION. EACH LOAN PARTY IRREVOCABLY AND UNCONDITIONALLY
SUBMITS, FOR ITSELF AND ITS PROPERTY, TO THE NONEXCLUSIVE JURISDICTION OF THE COURTS OF THE STATE
OF ILLINOIS SITTING IN COOK COUNTY AND OF THE UNITED STATES DISTRICT COURT OF THE NORTHERN DISTRICT
OF SUCH STATE, 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 ILLINOIS STATE COURT
OR, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, IN SUCH FEDERAL COURT. EACH OF THE PARTIES
HERETO AGREES THAT A FINAL JUDGMENT IN ANY SUCH ACTION OR PROCEEDING SHALL BE CONCLUSIVE AND MAY BE
ENFORCED IN OTHER JURISDICTIONS BY SUIT ON THE JUDGMENT OR IN ANY OTHER MANNER PROVIDED BY LAW.
NOTHING IN THIS AGREEMENT OR IN ANY OTHER LOAN DOCUMENT SHALL AFFECT ANY RIGHT THAT THE
ADMINISTRATIVE AGENT, ANY LENDER OR THE L/C ISSUER MAY OTHERWISE HAVE TO BRING ANY ACTION OR
PROCEEDING RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT AGAINST ANY LOAN PARTY OR ITS
PROPERTIES IN THE COURTS OF ANY JURISDICTION.

 

 

     (c) WAIVER OF VENUE. EACH LOAN PARTY IRREVOCABLY AND UNCONDITIONALLY WAIVES, TO THE
FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY OBJECTION THAT IT MAY NOW OR HEREAFTER HAVE TO THE
LAYING OF VENUE OF ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY
OTHER LOAN DOCUMENT IN ANY COURT REFERRED TO IN PARAGRAPH (B) OF THIS SECTION. EACH OF THE PARTIES
HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, THE DEFENSE OF
AN INCONVENIENT FORUM TO THE MAINTENANCE OF SUCH ACTION OR PROCEEDING IN ANY SUCH COURT.

     (d) SERVICE OF PROCESS. EACH PARTY HERETO IRREVOCABLY CONSENTS TO SERVICE OF PROCESS
IN THE MANNER PROVIDED FOR NOTICES IN SECTION 11.02. NOTHING IN THIS AGREEMENT WILL AFFECT
THE RIGHT OF ANY PARTY HERETO TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY APPLICABLE LAW.

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

     11.16 No Advisory or Fiduciary Responsibility. In connection with all aspects of each
transaction contemplated hereby (including in connection with any amendment, waiver or other
modification hereof or of any other Loan Document), each of the Loan Parties 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 Arrangers are
arm’s-length commercial transactions between the Loan Parties and their respective Affiliates, on
the one hand, and the Administrative Agent and the Arrangers, on the other hand, (B) each of the
Loan Parties has consulted its own legal, accounting, regulatory and tax advisors to the extent it
has deemed appropriate, and (C) each of the Loan Parties 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 Arrangers 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 Loan Parties
or any of their respective Affiliates, or any other Person and (B) none of the Administrative Agent
or the Arrangers has any obligation to the Loan Parties or any of their respective 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 Arrangers and their
respective Affiliates may be engaged in a broad range of transactions that involve interests that
differ from those of the Loan Parties and their respective Affiliates, and none of the
Administrative Agent or the Arrangers has any obligation to disclose any of such interests to the
Loan Parties and their respective Affiliates. To the fullest extent permitted by Law, each of the
Loan Parties hereby waives and releases any claims that it may have against the Administrative
Agent and the Arrangers with respect to any breach or alleged breach of agency or fiduciary duty in
connection with any aspect of any transaction contemplated hereby.

 

 

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

     11.18 Subordination of Intercompany Indebtedness. Each holder of Intercompany
Indebtedness (each a “Holder”) and each issuer of Intercompany Indebtedness (each a
“Maker”) agrees with the Administrative Agent and the other holders of the Obligations as
follows:

     (a) Subordination. The payment of principal, interest, fees and other amounts
with respect to Intercompany Indebtedness is expressly subordinated to the Obligations.

     (b) Payments. If an Event of Default has occurred and is continuing, no Maker
may make, and no Holder may take, demand, receive or accept, any payment with respect to
Intercompany Indebtedness.

     (c) Payments Held in Trust. In the event any payment of principal or interest
or distribution of property of any Maker on or in respect of Intercompany Indebtedness shall
be received by any Holder in violation of this Section 11.18, such payment or
distribution shall be held in trust for the Administrative Agent, for the benefit of the
holders of the Obligations, and such Holder will forthwith turn over any such payments in
the form received, properly endorsed or assigned, to the Administrative Agent, for the
benefit of the holders of the Obligations.

     (d) Enforcement. No Holder shall be entitled to demand payment of or
accelerate any Intercompany Indebtedness or to exercise any remedies or take any actions
against any Maker to enforce any of such Holder’s rights with respect to Intercompany
Indebtedness.

     (e) Collateral. No Holder will ask, demand, accept, or receive any collateral
security from any Loan Party for the payment of Intercompany Indebtedness, and any
collateral security for the payment of Intercompany Indebtedness that any Holder may now or
hereafter have on any property of any Loan Party is expressly subordinated to the Liens of
the Administrative Agent, for the benefit of the holders of the Obligations, securing the
Obligations.

     (f) Attorney in Fact. Each Holder irrevocably authorizes and directs the
Administrative Agent and any trustee in bankruptcy, receiver, custodian or assignee for the
benefit of creditors of any Maker, whether in voluntary or involuntary liquidation,
dissolution or reorganization, in its behalf to take such action as may be necessary or
appropriate to effectuate the subordination provided for in this Section 11.18 and
irrevocably appoints, which appointment is coupled with an interest, upon the occurrence and
during the continuation of any Event of Default, the Administrative Agent, or any such
trustee, receiver, custodian or assignee, its attorneys in fact for such purpose with full
powers of substitution and revocation.

     (g) Proof and Vote of Claims. Each Holder irrevocably appoints, which
appointment is irrevocable and coupled with an interest, the Administrative Agent as such
Holder’s true and lawful attorney, with full power of substitution, in the name of such
Holder, the Administrative

 

 

Agent, the holders of the Obligations or otherwise, for the sole use and benefit of the
Administrative Agent, to the extent permitted by Law, to prove and vote all claims relating
to Intercompany Indebtedness, and to receive and collect all distributions and payments to
which such Holder would be otherwise entitled on any liquidation of any Maker or any of its
property or in any proceeding affecting any Maker or its property under any Debtor Relief
Laws.

     (h) No Interference. Each Holder agrees (i) not to take any action as the
holder of Intercompany Indebtedness that will impede, interfere with or restrict or restrain
the exercise by the Administrative Agent of its rights and remedies under the Loan Documents
and (ii) upon the commencement of any proceeding under Debtor Relief Laws, to take such
actions as the holder of Intercompany Indebtedness as may be reasonably necessary or
appropriate to effectuate the subordination provided hereby. In furtherance thereof, each
Holder, in its capacity as a holder of Intercompany Indebtedness, agrees not to oppose any
motion filed or supported by the Administrative Agent or any other holder of the Obligations
for relief from stay or for adequate protection in respect of the Obligations and not to
oppose any motions supported by the Administrative Agent or any other holder of the
Obligations for any Loan Party’s use of cash collateral or post petition borrowing from any
of the Lenders or the Administrative Agent.

     11.19 USA PATRIOT Act. Each Lender that is subject to the Patriot Act (as hereinafter
defined) and the Administrative Agent (for itself and not on behalf of any Lender) hereby notifies
the Loan Parties that pursuant to the requirements of the USA PATRIOT Act (Title III of Pub. L.
107-56 (signed into law October 26, 2001)) (the “Patriot Act”), it is required to obtain,
verify and record information that identifies the Loan Parties, which information includes the name
and address of the Loan Parties and other information that will allow such Lender or the
Administrative Agent, as applicable, to identify the Loan Parties in accordance with the Patriot
Act. The Loan Parties 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” and anti-money laundering rules and regulations, including the Patriot Act.

     11.20 Judgment Currency. If, for purposes of obtaining judgment in any court, it is
necessary to convert a sum due hereunder or in any other Loan Document in one currency into another
currency, the rate of exchange used shall be that at which in accordance with normal banking
procedures the Administrative Agent could purchase the first currency with such other currency on
the Business Day preceding that on which final judgment is given. The obligation of the Borrower
in respect of any such sum due from it to the Administrative Agent or any Lender hereunder or under
the other Loan Documents shall, notwithstanding any judgment in a currency (the “Judgment
Currency”) other than that in which such sum is denominated in accordance with the applicable
provisions of this Agreement (the “Agreement Currency”), be discharged only to the extent
that on the Business Day following receipt by the Administrative Agent or such Lender, as the case
may be, of any sum adjusted to be so due in the Judgment Currency, the Administrative Agent or such
Lender, as the case may be, may in accordance with normal banking procedures purchase the Agreement
Currency with the Judgment Currency. If the amount of the Agreement Currency so purchased is less
than the sum originally due to the Administrative Agent or such Lender from the Borrower in the
Agreement Currency, the Borrower agrees, as a separate obligation and notwithstanding any such
judgment, to indemnify the Administrative Agent or such Lender, as the case may be, against such
loss. If the amount of the Agreement Currency so purchased is greater than the sum originally due
to the Administrative Agent or any Lender in such currency, the Administrative Agent or such
Lender, as the case may, be agrees to return the amount of any excess to the Borrower (or to any
other Person who may be entitled thereto under applicable law).

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

 

 

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

	 	 	 	 	 
	BORROWER: 	
HURON CONSULTING GROUP INC.,

a Delaware corporation

 	 
	 	By:  	/s/ James K. Rojas
 	 
	 	 	Name:  	James K. Rojas 	 
	 	 	Title:  	Chief Operating Officer and Chief Financial Officer 	 
	 
	GUARANTORS: 	
HURON CONSULTING GROUP HOLDINGS LLC,

a Delaware limited liability company

 	 
	 	By:  	/s/ James K. Rojas
 	 
	 	 	Name:  	James K. Rojas 	 
	 	 	Title:  	Chief Operating Officer and Chief Financial Officer 	 
	 
	 	HURON CONSULTING SERVICES LLC,

a Delaware limited liability company

 	 
	 	By:  	/s/ James K. Rojas
 	 
	 	 	Name:  	James K. Rojas 	 
	 	 	Title:  	Chief Operating Officer and Chief Financial Officer 	 
	 
	 	WELLSPRING MANAGEMENT SERVICES LLC,

formerly known as SPELTZ & WEIS LLC,

a Delaware limited liability company

 	 
	 	By:  	/s/ James K. Rojas
 	 
	 	 	Name:  	James K. Rojas 	 
	 	 	Title:  	Chief Operating Officer and Chief Financial Officer 	 
	 
	 	HURON DEMAND LLC,

a Delaware limited liability company

 	 
	 	By:  	/s/ James K. Rojas
 	 
	 	 	Name:  	James K. Rojas 	 
	 	 	Title:  	Chief Operating Officer and Chief Financial Officer 	 
	 
	 	HURON TECHNOLOGIES INC.,

a Delaware corporation

 	 
	 	By:  	/s/ James K. Rojas
 	 
	 	 	Name:  	James K. Rojas 	 
	 	 	Title:  	Chief Operating Officer and Chief Financial Officer 	 

 

 

	 	 	 	 	 
	ADMINISTRATIVE AGENT:  	BANK OF AMERICA, N.A.,

as Administrative Agent and Collateral Agent

 	 
	 	By:  	/s/ Bozena Janociak
 	 
	 	 	Name:  	Bozena Janociak 	 
	 	 	Title:  	Assistant Vice President 	 
	 
	LENDERS:  	BANK OF AMERICA, N.A.,

as L/C Issuer, Swing Line Lender and Lender

 	 
	 	By:  	/s/ David Bacon
 	 
	 	 	Name:  	David Bacon 	 
	 	 	Title:  	SVP 	 
	 
	 	JPMORGAN CHASE BANK, N.A.,

as Lender

 	 
	 	By:  	/s/ Katherine M. Aring
 	 
	 	 	Name:  	Katherine M. Aring 	 
	 	 	Title:  	Officer 	 
	 
	 	PNC BANK, NATIONAL ASSOCIATION,

as Lender

 	 
	 	By:  	/s/ Jon Hinard
 	 
	 	 	Name:  	Jon Hinard 	 
	 	 	Title:  	Senior Vice President 	 
	 
	 	HARRIS N.A.,

as Lender

 	 
	 	By:  	/s/ Marc Pressler
 	 
	 	 	Name:  	Marc Pressler 	 
	 	 	Title:  	Senior Vice President 	 
	 
	 	KEYBANK NATIONAL ASSOCIATION,

as Lender

 	 
	 	By:  	/s/ Jeffrey Kalinowski
 	 
	 	 	Name:  	Jeffrey Kalinowski 	 
	 	 	Title:  	Senior Vice President 	 
	 

 

 

	 	 	 	 	 
	 	FIFTH THIRD BANK,

as Lender

 	 
	 	By:  	/s/ Brad McDougall
 	 
	 	 	Name:  	Brad McDougall 	 
	 	 	Title:  	Vice President 	 
	 
	 	THE NORTHERN TRUST COMPANY,

as Lender

 	 
	 	By:  	/s/ Morgan A. Lyons
 	 
	 	 	Name:  	Morgan A. Lyons 	 
	 	 	Title:  	Senior Vice President 	 
	 
	 	RBS CITIZENS, N.A.,

as Lender

 	 
	 	By:  	/s/ Mark Wegener
 	 
	 	 	Name:  	Mark Wegener 	 
	 	 	Title:  	Senior Vice President 	 
	 
	 	THE PRIVATEBANK AND TRUST COMPANY,

as Lender

 	 
	 	By:  	/s/ Michael Stellato
 	 
	 	 	Name:  	Michael Stellato 	 
	 	 	Title:  	Officer 	 
	 
	 	FIRSTMERIT BANK, N.A.,

as Lender

 	 
	 	By:  	/s/ Tim Daniels
 	 
	 	 	Name:  	Tim Daniels 	 
	 	 	Title:  	Vice President 	 
	 
	 	NORTHBROOK BANK & TRUST COMPANY,

as Lender

 	 
	 	By:  	/s/ Nathan Margol
 	 
	 	 	Name:  	Nathan Margol 	 
	 	 	Title:  	Vice President 	 
	 

[SCHEDULES AND EXHIBITS INTENTIONALLY OMITTED]

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