Document:

Exhibit
10.16

 

EMPLOYMENT
AGREEMENT

 

This Employment Agreement
(“Agreement”) is made and entered into as of the 21st day of October, 2009
between Cache, Inc., a Florida corporation, having its principal place of
business at 1440 Broadway, New York, New York 10036 (“Cache” or the “Company”),
and Rabia Farhang (“Farhang” or “Executive”).

 

WHEREAS, the Company wishes to employ Farhang as
Executive Vice President and General Merchandise Manager and Farhang wishes to
be employed on the terms and conditions set forth herein.

 

NOW,
THEREFORE, in
consideration of the mutual covenants and promises contained herein, the
parties hereto each intending to be legally bound, agree as follows:

 

1.0                               Employment

 

Cache
hereby employs Farhang as Executive Vice President General Merchandise Manager
and Farhang hereby accepts such employment. 
This Agreement shall commence on November 16, 2009 (the “Effective
Date”) for a term of 3 years expiring on November 15, 2012 (the “Expiration
Date”), subject to termination as hereinafter provided.

 

2.0                               Duties and
Responsibilities

 

2.1                                 During Executive’s employment, Executive
shall perform all duties and accept all responsibilities as may be assigned
from time to time by the Board of Directors (the “Board”)

 

 

and/or
the Chief Executive Officer of Cache and that are consistent with the duties
and responsibilities of the Executive Vice President and/or General Merchandise
Manager.

 

2.2                                 Executive agrees that she will diligently
devote her entire business skill, time and effort to the performance of her
duties on behalf of Cache.  Executive
agrees that she will not, alone or as a member of a partnership or as an
officer, director, employee or agent of any other person, firm or business
organization, engage in any other business activities or pursuits requiring her
personal services that might conflict with her duties hereunder.

 

2.3                                 Executive represents and warrants that
she is not subject or party to any employment agreement, non-competition
covenant, non-disclosure agreement or other agreement, covenant, understanding
or restriction that would prohibit Executive from executing this Agreement and
performing fully her duties and responsibilities hereunder, or which would in
any manner, directly or indirectly, limit or affect the duties and responsibilities
which may now or in the future be assigned to Executive by Cache.

 

2.4                                 Executive agrees that at all times she
will strictly adhere to and perform all her duties in accordance with
applicable laws, rules and regulations, and in accordance with policies
and procedures of Cache that are in effect from time to time.

 

3.0                               Compensation and Benefits

 

3.1                                 Salary.   During the
initial year of Executive’s employment under this Agreement November 16,
2009 through November 15, 2010, Cache shall pay Executive an annual base
salary of $400,000, less withholdings and other applicable payroll deductions
as required by law, payable in equal installments at such times as Cache
customarily pays its other senior executive 

 

 

officers, but no less often than monthly.  During the term of this Agreement, the
Compensation Committee of the Board and the Chief Executive Officer will review
the Executive’s base salary on an annual basis and make adjustments thereto
subject to the performance of the Executive, the operating results of the
Company, the competitive compensation landscape and such other factors as are
determined to be relevant by the Compensation Committee and the Chief Executive
Officer.  Such reviews will be completed
prior to February 1 of the applicable year and any adjustment (if any)
will be effective as of February 1 of such year.  In addition to base salary, the Executive
will be eligible to participate in performance based incentive bonus plans for
senior executive officers as approved by the Compensation Committee of the
Board and the Chief Executive Officer, as and to the extent provided for in
Sections 3.2 and 3.4 below.

 

Any
compensation increase pursuant to this Section 3.1 shall become a
permanent part of Executive’s annual base salary.

 

3.2                                 Benefits.   Executive
will be eligible to receive the health care and other benefits that Cache makes
available to its senior executive officers, including term life insurance equal
to three times the Executive’s annual salary, provided that Executive meets the
eligibility requirements for such plans or programs.  In addition, Executive will continue to be
eligible to participate in Cache’s stock option plans and will be eligible to
participate in any other executive bonus or incentive plan established by
Cache, in each case in accordance with the terms of those plans, and nothing in
this Agreement is intended to modify or discontinue Executive’s participation
in any plan in which she participates as contemplated by Section 3.7
hereof.

 

3.3                                 Business Expenses. 
Executive shall be reimbursed for the reasonable business expenses
incurred on Cache’s behalf in connection with the performance of her services 

 

 

hereunder upon presentation of an itemized account and
written proof of such expenses, in accordance with the policies established by
Cache.

 

3.4                                 Bonus.  The Executive
shall be entitled to such performance based bonuses as the Compensation
Committee of the Board and the Chief Executive Officer may from time to time
determine in their discretion (“Bonuses”).

 

3.5                                 Repayment of Bonuses. 
If the audited annual financial statements of Cache in respect of any
year during the term of this Agreement are subsequently restated due to a
material error or fraud that, in either such case, results in a material
restatement of such financial statements, if so requested by the Board,
Executive shall repay to the Company all or part of any Bonus received in
respect of such year.

 

3.6                                 Payment of Relocation Expenses. 
Cache shall pay the reasonable out of pocket relocation and moving expenses
of the Executive and her family to the New York metropolitan region, up to
$20,000 in the aggregate.  Prior to any
such reimbursement, the Executive shall furnish Cache with an itemized account
and written proof of such expenses.

 

3.7                                 Restricted Stock Grants. 
On the Effective Date of this Agreement, the Executive shall be awarded
20,000 shares of restricted common stock under Cache’s Amended and Restated
2008 Stock Option and Performance Incentive Plan (the “Plan”).  Such shares shall vest in equal installments
on the first, second and third anniversary of the grant date.  The other terms and conditions applicable to
such grant shall be as set forth in the Plan and any award agreement
thereunder.

 

 

3.8                                 Stock Option Grants. 
On the Effective Date of this Agreement, the Executive shall be awarded
20,000 common stock options under Cache’s Amended and Restated 2008 Stock
Option and Performance Incentive Plan (the “Plan”).  Such options shall vest in equal installments
on the first, second and third anniversary of the grant date.  The Stock Option Exercise price will be equal
to the closing price of the Company’s common stock on the first day of
employment of the executive. The other terms and conditions applicable to such
grant shall be as set forth in the Plan and any award agreement thereunder

 

3.9                                 Sign on Bonus. 
The Executive shall receive a one-time payment of $150,000, payable with
the executives first biweekly pay check. The one-time bonus is subject to
partial pro-rata repayment, within the first year of the executive’s
employment, should the executive no longer be employed pursuant to sections 4.1
or 4.2 or 4.5 of this agreement.  The
repayment portion shall be calculated based upon the percentage of weeks in the
year remaining till the executive would have reached their one year anniversary
of employment.

 

4.0                               Termination Without
Compensation

 

4.1                                 Mutual Agreement. 
Executive’s employment, and the parties’ respective obligations
hereunder, may be terminated by mutual written agreement, with at least 30 days
prior written notice of the termination date agreed to by the parties.

 

4.2                                 Resignation. 
Executive shall submit written notice of her resignation at least 60
days prior to a specified termination date.

 

4.3                                 Partial/Total Disability.  
If Executive is unable to perform her duties and responsibilities to the
full extent required hereunder, either with or without reasonable 

 

 

accommodation, by reason of physical or psychiatric
illness, injury or incapacity for six (6) continuous months or nine (9) months
in a twelve (12) month period, Cache may terminate Executive’s employment by
written notice of the termination date and Cache shall have no further
liability or obligation to Executive hereunder, except for any unpaid salary
and benefits accrued to the date of termination.  During any period of disability, Executive
will receive her salary in effect at the time of disability, less any amounts
received as disability benefits through any applicable disability program,
Cache benefit plan or the Social Security Administration.  In the event of any dispute under this Section 4.3,
Executive shall submit to a physical and/or psychiatric examination by a
licensed physician mutually satisfactory to Cache and the Executive.  The cost of such examination will be paid by
Cache and the findings of such physician shall be determinative.

 

4.4                                 Death.   If Executive
dies, this Agreement shall terminate and thereafter Cache shall not have any
further liability or obligation to Executive, her executors, administrators,
heirs, assigns or any other person claiming under or through her, except for
unpaid salary and benefits accrued to the date of her death.

 

4.5                                 Cause.   Cache may at
any time terminate Executive’s employment for “cause” and thereafter Cache
shall have no further liability or obligation to Executive.  For purposes of this Agreement, “cause” shall
mean (a) Executive’s conviction, guilty plea or plea of nolo contendere
with respect to (i) any felony or (ii) any misdemeanor involving
fraud, theft, dishonesty, wrongful taking of property, embezzlement, bribery,
forgery or extortion; (b) Executive’s failure (other than by reason of
illness, injury or incapacity) to perform or fulfill any of Executive’s
material duties, responsibilities or obligations; (c) Executive’s material
neglect of Cache’s business (other than by reason of illness, injury or
incapacity); (d) Executive’s 

 

 

fraudulent, unlawful, grossly negligent or willful
misconduct in connection with Executive’s duties; (e) Executive’s material
breach of this Agreement or any material policy or procedure of Cache; or (f) misappropriation
of funds by Executive.

 

4.6                                 Further Obligations.  
In the event that Executive’s employment is terminated for any of the
reasons set forth in this Section 4 (a “Termination without Compensation”),
Cache will have no further liability or obligation to Executive, except for any
unpaid salary or benefits accrued as of the date of termination.

 

5.0                               Termination With
Compensation

 

5.1                                 At any time prior to a “Change of
Ownership or Control” of Cache (as defined herein), Cache shall have the right
to terminate Executive’s employment at any time without cause by giving
Executive 30 days’ notice of the termination date.  In the event that Executive’s employment is
terminated pursuant to this Section 5.1, Cache shall continue to pay
Executive the salary then in effect for a period of twelve months or the
balance of the term of this Agreement, whichever period is shorter, less
withholdings and other applicable payroll deductions as required by law, in
accordance with Cache’s normal pay cycle. 
However, Executive shall not be entitled to any compensation under this Section 5.1
unless Executive executes and delivers to Cache after notice of termination a
general release acceptable to Cache by which Executive releases Cache from any
obligations and liabilities of any type whatsoever, except for Cache’s
obligation to provide the salary specified herein.  The parties acknowledge that the salary to be
provided under this Section 5.1 is in consideration for the
above-referenced release.  Upon any
termination under this Section 5.1, Cache shall have no further obligation
to Executive, her executor, administrators, heirs, assigns or any other persons
claiming under or through her other

 

 

than to pay to Executive the salary specified in this Section 5.1
in exchange for the above-referenced release. 
Executive agrees that any compensation she is to receive pursuant to
this Section 5.1 shall be reduced by any compensation Executive receives in
connection with any employment position Executive assumes subsequent to her
termination date.  Executive further
agrees that, immediately upon her acceptance of any such employment position,
she will notify Cache, in writing, of her employment position and the
compensation associated with that position so that Cache may reduce the
payments to be made to Executive, in accordance with this Section 5.1.

 

5.2                                 (a)  If, during Executive’s
employment with Cache, there is a “Change of Ownership or Control” of Cache,
Cache may terminate Executive’s employment by providing written notice at least
30 days prior to the termination date. 
Upon the occurrence of a Change of Ownership or Control followed at any
time during the term of this Agreement by the termination of Executive’s
employment, other than for Partial/Total Disability, Death or Cause, as
defined, respectively, in Sections 4.3, 4.4 and 4.5 of this Agreement, the
provisions of Section 5.2(b) of this Agreement shall apply.

 

(b)                                 In the event that Executive’s employment
is terminated following a Change of Ownership or Control, Executive shall
receive a one time payment equal to 12 months of Executive’s then in effect
base salary, less withholdings and other applicable payroll deductions as
required by law.  However,
Executive shall not be entitled to any compensation under this Section 5.2
unless Executive executes and delivers to Cache after notice of termination or
notice of resignation, whichever is applicable, a general release in form
acceptable to Cache by which Executive releases Cache from any obligations and
liabilities of any type whatsoever, except for Cache’s obligation to provide
the salary specified herein.  The parties
acknowledge that the 

 

 

salary to be provided under this Section 5.2 is
in consideration for the above-referenced release.  Upon any termination under this Section 5.2,
Cache shall have no further obligation to Executive, her executor,
administrators, heirs, assigns or any other persons claiming under or through
her other than to pay to Executive the salary specified in this Section 5.2
in exchange for the above-referenced release.

 

(c) Subject to the last sentence of this
paragraph, for purposes of this Section 5.2, “Change of Ownership or
Control” shall mean the occurrence of one or more of the following three
events:  (i) any person becomes a
beneficial owner (as such term is defined in Rule 13d-3 promulgated under
the Securities Exchange Act of 1934, as amended) directly or indirectly of
securities representing more than 50% of the total number of votes that may be
cast for the election of directors of Cache; (ii) within two years after a
merger, consolidation, liquidation or sale of assets involving Cache, or a
contested election of a Cache director, or any combination of the foregoing,
the individuals who were directors of Cache immediately prior thereto shall
cease to constitute a majority of the Board of Directors; or (iii) within
two years after a tender offer or exchange offer for voting securities of
Cache, the individuals who were directors of Cache immediately prior thereto
shall cease to constitute a majority of the Board of Directors. Notwithstanding
anything to the contrary herein, (x) the acquisition of securities of
Cache by Andrew M. Saul, any spouse or lineal descendant of Andrew M. Saul, any
trust for the benefit of such persons, or any affiliate or associate of Andrew
M. Saul or any such persons (individually and collectively, the “Saul Group”)
or (y) a change in the composition of the Board of Directors following a merger,
consolidation, liquidation, sale of assets, tender offer or exchange offer
after which members of the Saul Group shall individually or collectively own in
the aggregate, directly or indirectly, securities representing more than 50% of
the total number of votes that

 

 

may be cast for the election of directors of Cache,
shall not constitute a Change of Ownership or Control.

 

5.3                                 In the event that Executive dies during
the payment continuation period referred to in Section 5.1, Cache will
have no further liability or obligation to Executive, her executor,
administrators, heirs, assigns or any other persons claiming under or through
her as of the date of Executive’s death.

 

6.0                               Return of Property

 

Immediately
upon termination of Executive’s employment, Executive shall deliver to Cache
all copies of data and information in any way associated with Cache or the
performance of Executive’s duties including, but not limited to, all
Confidential Information (as defined in Section 7.1), documents,
correspondence, notebooks, reports, computer programs, and all other materials
and copies thereof (including computer discs and other electronic media)
relating in any way to the business of Cache. 
Immediately upon termination of Executive’s employment, Executive shall
deliver to Cache all tangible property belonging or licensed to Cache,
including, without limitation cell phones, facsimile machines, computers,
pagers, and credit cards.

 

7.0                               Confidentiality;
Non-Compete

 

7.1           Confidentiality
and Nondisclosure of Information. 
During Executive’s tenure with Cache, she will have access to
information relating to the business of Cache, including writings, equipment,
processes, drawings, reports, manuals, invention records, financial
information, business plans, customer lists, the identity of or other facts
relating to prospective customers, inventory lists, arrangements with suppliers
and customers, computer programs, or 

 

 

other material embodying trade secrets, customer or
product information or technical or business information of Cache (all of
which, excluding information and materials which are or become generally
available to the public other than as a result of disclosure by Executive or
her representatives, hereinafter are referred to as “Confidential Information”).  Executive acknowledges that the Confidential
Information constitutes a valuable, special and unique asset of Cache as to
which Cache has the right to retain and hereby does retain all of its
proprietary interests.  However, access
to and knowledge of the Confidential Information is essential to the
performance of Executive’s duties.  In
recognition of this fact, Executive agrees that she will not, during or after
her employment with Cache, disclose any of the Confidential Information to any
person, firm, corporation, association or other entity for any reason or
purpose whatsoever (except as necessary in the performance of her duties during
her employment with Cache) or make use of any of the Confidential Information
for her purposes or those of another.  In
the event Executive is required or requested by legal process to disclose any
of the Confidential Information, Executive shall provide Cache with prompt
written notice of such requirement or request so that Cache may, at its own
expense, seek an appropriate protective order or waive compliance with the
provisions of this Section 7.1 to the extent required to comply with the
request or order.  If a protective order
is not obtained and/or if reasonable proof thereof is not given by Cache to
Executive by written notice and received by Executive no later than one (1) business
day preceding the date on which such disclosure is required, Executive may
disclose all or a portion of the Confidential Information to the extent
required by the Court or permitted by the waiver, or both.

 

7.2                                 Non-compete.Executive hereby covenants and agrees
that, during the term of her employment as set forth in this Agreement and
either for one (1) year following Termination 

 

 

without Compensation, or during the period Executive receives
compensation pursuant to Section 5.1, Executive will not, directly or
indirectly, engage in competition with Cache. 
The word “competition” as used herein shall mean (a) an engagement
as independent contractor or employee, or other arrangement with any Restricted
Entity (hereinafter defined) pursuant to which Executive renders any services
to, or directly or indirectly owns, any Restricted Entity; provided, however,
that ownership by Executive of in the aggregate less than five (5%) percent of
the outstanding shares of capital stock of a corporation with a class of equity
securities held of record by more than five hundred (500) persons entitled to
vote for the election of directors shall not be deemed to constitute “competition.”  For purposes of this Agreement, a “Restricted
Entity” shall mean any entity which operates specialty clothing retail
stores on a national basis (i.e., in more than 10 states) with its principal
place of business located in any state in which Cache then has a retail store.

 

7.3                                 Non-Solicitation. 
Executive hereby covenants and agrees that she shall not, directly or
indirectly, for herself or on behalf of any other person, during the term
hereof or for two (2) years following termination of employment for any
reason, solicit, take away, attempt to take away, or otherwise interfere with
the written agreements and/or existing relationship of Cache with any of its
employees, agents or independent contractors.

 

 

8.0                               Cooperation by Executive

 

Executive agrees, during and after her employment with
Cache, to cooperate with Cache in any legal proceedings or with respect to any
regulatory matters relating to the period of Executive’s employment with Cache,
provided that any reasonable travel, room and board expenses which Executive
incurs in rendering such cooperation will be reimbursed by Cache.

 

9.0                               No Disparagement

 

9.1                                 Executive agrees, both during and after
Executive’s employment with Cache, not to publish or communicate any
Disparaging (as defined below) remarks, comments or statements regarding Cache
or any of Cache’s officers, or any member of Cache’s Board.

 

9.2                                 Cache agrees, both during and after
Executive’s employment with Cache, not to publish or communicate any
Disparaging remarks, comments or statements regarding Executive for any reason
whatsoever.

 

9.3                                 “Disparaging” remarks, comments or
statements are those that impugn the character, honesty, integrity, morality,
business acumen, abilities or any aspect of the operations or business of the
individual or entity being disparaged.

 

10.0                        Survival/Injunctive Relief

 

10.1                           Executive acknowledges that damage to
Cache from Executive’s breach of this Agreement cannot be remedied solely by
the recovery of damages, and agrees that in the event of any breach or
threatened breach of any of the provisions of Sections 6, 7 and 9 of this

 

 

Agreement, Cache may pursue both injunctive relief and any and all
other remedies available at law or in equity for any such breach or threatened
breach, including the recovery of damages.

 

10.2                           The provisions of Sections 3.5,
6, 7, 8, 9, 10, 11 and 12 shall survive the termination of this Agreement,
and of Executive’s employment.

 

11.0                        Assignability; Binding
Effect

 

The terms and provisions of this Agreement shall be
binding upon and inure to the benefit of Cache and its successors and
assigns.  This Agreement calls for the
provision of personal services and, accordingly, shall not be assignable by
Executive.

 

12.0                        Miscellaneous

 

12.1                           This Agreement supersedes all prior
agreements between the parties.  None of
the terms of this Agreement shall be deemed to be waived or modified, nor shall
this Agreement be renewed, or extended, except by an express agreement in
writing, signed by Executive and the Chairman of the Compensation Committee of
Cache’s Board of Directors or the Chief Executive Officer, or his or her
designee.  There are no representations,
promises, warranties, covenants or undertakings, other than those contained in
this Agreement, which represents the entire understanding of the parties.  The failure of a party hereto to enforce, or
the delay by a party hereto to enforce, any of its rights under this Agreement
shall not be construed as a waiver of any such party’s rights hereunder.  Paragraph headings contained in this
Agreement have been inserted for convenience of reference only, are not to be
considered a part of this Agreement and shall not affect the interpretation of
any provision hereof.  In the event any
of the provisions of this Agreement, or any portion thereof, shall be held to
be invalid or unenforceable, the validity 

 

 

and enforceability of the remaining provisions hereof shall not be
affected or impaired but shall remain in full force and effect.  This Agreement shall be governed and
construed in accordance with the laws of the State of New York.  Any action brought in connection herewith
shall be brought in the federal or New York State courts sitting in the City of
New York, County of New York.

 

12.2                           Notices. 
Any notices under this Agreement shall be in writing and shall be given
by personal delivery, facsimile, by certified or registered letter, return
receipt requested, or a nationally-recognized overnight delivery service; and
shall be deemed given when personally delivered, upon actual receipt of the
facsimile or certified or registered letter, or on the business day next
following delivery to a nationally-recognized overnight delivery service at the
addresses set forth below in this Agreement or to such other address or
addresses as either party shall have specified in writing to the other party
hereto.

 

If to Cache:

 

Chief
Executive Officer

1440 Broadway

New York, NY 10018

 

If to Executive, to her at
such address as she shall have provided to Cache.

 

 

IN WITNESS WHEREOF, the undersigned, intending to be legally bound, has
executed this Agreement on the date first above written.

 

 

CACHE,
INC.

 

	
  By: 

  	
  /s/ THOMAS E. REINCKENS

  	
   

  	
  /s/ RABIA FARHANG

  
	
   

  	
  Thomas E. Reinckens

  	
   

  	
  Rabia FarhangExhibit 4.3

 

	
  

  	
  LIMITED LIABILITY PARTNERSHIP

  

 

CONFORMED COPY

 

ABB LTD

 

CERTAIN SUBSIDIARIES OF
ABB LTD

AS BORROWERS

 

WITH

 

THE MANDATED LEAD
ARRANGERS

 

with

CREDIT SUISSE

AS FACILITY AGENT

AND EURO SWINGLINE AGENT

 

with

CREDIT SUISSE, CAYMAN ISLANDS BRANCH

AS DOLLAR SWINGLINE AGENT

 

and

NORDEA BANK AB (PUBL)

AS SEK SWINGLINE AGENT

	
   

  	
   

  	
   

  

 

$2,000,000,000

MULTICURRENCY REVOLVING CREDIT AGREEMENT

 

DATED 7 OCTOBER 2009

	
   

  	
   

  	
   

  

 

 

CONTENTS

 

	
  Clause

  	
   

  	
  Page

  
	
   

  	
   

  	
   

  	
   

  
	
  1.

  	
  DEFINITIONS AND INTERPRETATION

  	
   

  	
  3

  
	
   

  	
   

  	
   

  	
   

  
	
  2.

  	
  THE FACILITY

  	
   

  	
  23

  
	
   

  	
   

  	
   

  	
   

  
	
  3.

  	
  PURPOSE

  	
   

  	
  27

  
	
   

  	
   

  	
   

  	
   

  
	
  4.

  	
  CONDITIONS OF UTILISATION

  	
   

  	
  27

  
	
   

  	
   

  	
   

  	
   

  
	
  5.

  	
  UTILISATION

  	
   

  	
  29

  
	
   

  	
   

  	
   

  	
   

  
	
  6.

  	
  OPTIONAL CURRENCIES

  	
   

  	
  32

  
	
   

  	
   

  	
   

  	
   

  
	
  7.

  	
  REPAYMENT

  	
   

  	
  33

  
	
   

  	
   

  	
   

  	
   

  
	
  8.

  	
  PREPAYMENT AND CANCELLATION

  	
   

  	
  34

  
	
   

  	
   

  	
   

  	
   

  
	
  9.

  	
  INTEREST

  	
   

  	
  39

  
	
   

  	
   

  	
   

  	
   

  
	
  10.

  	
  INTEREST PERIODS

  	
   

  	
  40

  
	
   

  	
   

  	
   

  	
   

  
	
  11.

  	
  CHANGES TO THE CALCULATION OF INTEREST

  	
   

  	
  40

  
	
   

  	
   

  	
   

  	
   

  
	
  12.

  	
  FEES

  	
   

  	
  42

  
	
   

  	
   

  	
   

  	
   

  
	
  13.

  	
  TAX GROSS UP AND INDEMNITIES

  	
   

  	
  44

  
	
   

  	
   

  	
   

  	
   

  
	
  14.

  	
  INCREASED COSTS

  	
   

  	
  48

  
	
   

  	
   

  	
   

  	
   

  
	
  15.

  	
  OTHER INDEMNITIES

  	
   

  	
  49

  
	
   

  	
   

  	
   

  	
   

  
	
  16.

  	
  MITIGATION BY THE LENDERS

  	
   

  	
  50

  
	
   

  	
   

  	
   

  	
   

  
	
  17.

  	
  COSTS AND EXPENSES

  	
   

  	
  51

  
	
   

  	
   

  	
   

  	
   

  
	
  18.

  	
  GUARANTEE AND INDEMNITY

  	
   

  	
  51

  
	
   

  	
   

  	
   

  	
   

  
	
  19.

  	
  REPRESENTATIONS

  	
   

  	
  55

  
	
   

  	
   

  	
   

  	
   

  
	
  20.

  	
  INFORMATION UNDERTAKINGS

  	
   

  	
  57

  
	
   

  	
   

  	
   

  	
   

  
	
  21.

  	
  GENERAL UNDERTAKINGS

  	
   

  	
  61

  
	
   

  	
   

  	
   

  	
   

  
	
  22.

  	
  EVENTS OF DEFAULT

  	
   

  	
  64

  
	
   

  	
   

  	
   

  	
   

  
	
  23.

  	
  CHANGES TO THE LENDERS

  	
   

  	
  67

  
	
   

  	
   

  	
   

  	
   

  
	
  24.

  	
  CHANGES TO THE OBLIGORS

  	
   

  	
  72

  
	
   

  	
   

  	
   

  	
   

  
	
  25.

  	
  ROLE OF THE AGENTS AND THE MANDATED LEAD ARRANGERS

  	
   

  	
  74

  
	
   

  	
   

  	
   

  	
   

  
	
  26.

  	
  CONDUCT OF BUSINESS BY THE FINANCE PARTIES

  	
   

  	
  80

  
	
   

  	
   

  	
   

  	
   

  
	
  27.

  	
  SHARING AMONG THE LENDERS

  	
   

  	
  81

  
	
   

  	
   

  	
   

  	
   

  
	
  28.

  	
  PAYMENT MECHANICS

  	
   

  	
  83

  
	
   

  	
   

  	
   

  	
   

  
	
  29.

  	
  SET-OFF

  	
   

  	
  87

  
	
   

  	
   

  	
   

  	
   

  
	
  30.

  	
  NOTICES

  	
   

  	
  87

  
	
   

  	
   

  	
   

  	
   

  
	
  31.

  	
  CALCULATIONS AND CERTIFICATES

  	
   

  	
  90

  

 

1

 

	
  32.

  	
  PARTIAL INVALIDITY

  	
   

  	
  90

  
	
   

  	
   

  	
   

  	
   

  
	
  33.

  	
  REMEDIES AND WAIVERS

  	
   

  	
  90

  
	
   

  	
   

  	
   

  	
   

  
	
  34.

  	
  AMENDMENTS AND WAIVERS

  	
   

  	
  91

  
	
   

  	
   

  	
   

  	
   

  
	
  35.

  	
  COUNTERPARTS

  	
   

  	
  93

  
	
   

  	
   

  	
   

  	
   

  
	
  36.

  	
  GOVERNING LAW

  	
   

  	
  94

  
	
   

  	
   

  	
   

  	
   

  
	
  37.

  	
  ENFORCEMENT

  	
   

  	
  94

  
	
   

  	
   

  	
   

  	
   

  
	
  Schedule
  1

  	
   

  	
  95

  
	
   

  	
   

  	
   

  
	
  Part I
  The Original Lenders

  	
   

  	
  95

  
	
   

  	
   

  	
   

  
	
  Part II
  The Dollar Swingline Lenders

  	
   

  	
  97

  
	
   

  	
   

  	
   

  
	
  Part III
  The Euro Swingline Lenders

  	
   

  	
  98

  
	
   

  	
   

  	
   

  
	
  Part IV
  The SEK Swingline Lenders

  	
   

  	
  99

  
	
   

  	
   

  	
   

  
	
  Part V
  The Original Obligors

  	
   

  	
  100

  
	
   

  	
   

  	
   

  
	
  Schedule
  2 Conditions Precedent

  	
   

  	
  101

  
	
   

  	
   

  	
   

  
	
  Part I
  Conditions Precedent

  	
   

  	
  101

  
	
   

  	
   

  	
   

  
	
  Part II
  Additional Borrower Conditions Precedent

  	
   

  	
  102

  
	
   

  	
   

  	
   

  
	
  Schedule
  3 Utilisation Request

  	
   

  	
  104

  
	
   

  	
   

  	
   

  
	
  Schedule
  4 Form Of Transfer Certificate

  	
   

  	
  106

  
	
   

  	
   

  	
   

  
	
  Schedule
  5 Timetables

  	
   

  	
  108

  
	
   

  	
   

  	
   

  
	
  Schedule
  6 Form Of Borrower Accession Letter

  	
   

  	
  110

  
	
   

  	
   

  	
   

  
	
  Schedule
  7 Form Of Resignation Letter

  	
   

  	
  111

  
	
   

  	
   

  	
   

  
	
  Schedule
  8 Mandatory Cost

  	
   

  	
  112

  
	
   

  	
   

  	
   

  
	
  Schedule
  9 Material Subsidiaries

  	
   

  	
  115

  
	
   

  	
   

  	
   

  
	
  Schedule
  10 Form of Increase Confirmation

  	
   

  	
  116

  

 

2

 

THIS AGREEMENT is dated 7 October 2009 and made between:

 

(1)                                  ABB LTD, a
company incorporated in Switzerland whose registered office is at
Affolternstrasse 44, CH-8050 Zurich, Switzerland (“ABB” or the
“Guarantor”);

 

(2)                                  THE SUBSIDIARIES OF ABB listed
in Part V of Schedule 1 (The Original Obligors) as
original borrowers (the “Original
Borrowers”);

 

(3)                                  BANCO BILBAO VIZCAYA ARGENTARIA, S.A.; BANC OF AMERICA
SECURITIES LIMITED; BANCO SANTANDER, S.A.; BANK OF CHINA LIMITED, LONDON
BRANCH; BANK OF CHINA (UK) LIMITED; BARCLAYS CAPITAL; BNP PARIBAS; CALYON;
CITIGROUP GLOBAL MARKETS LIMITED; COMMERZBANK AKTIENGESELLSCHAFT; CREDIT
SUISSE; DEUTSCHE BANK AG; DNB NOR BANK ASA; GOLDMAN SACHS INTERNATIONAL;
HANDELSBANKEN CAPITAL MARKETS, SVENSKA HANDELSBANKEN AB (PUBL); HSBC BANK PLC;
ICBC (LONDON) LIMITED; INDUSTRIAL AND COMMERCIAL BANK OF CHINA LIMITED; ING
BANK N.V.; INTESA SANPAOLO SPA; J.P.MORGAN PLC; MERCHANT BANKING, SKANDINAVISKA
ENSKILDA BANKEN AB (PUBL); MORGAN STANLEY BANK, N.A.; NOMURA BANK INTERNATIONAL
PLC; NORDEA BANK AB (PUBL); SOCIETE GENERALE; STANDARD CHARTERED BANK; THE
ROYAL BANK OF SCOTLAND PLC; UBS AG; UNICREDIT LUXEMBOURG S.A. AND ZÜRCHER
KANTONALBANK in their respective capacities
as mandated lead arrangers (the “Mandated Lead Arrangers”);

 

(4)                                  THE FINANCIAL INSTITUTIONS listed in Part I to Part IV of Schedule 1 (The Original Lenders) in
their respective capacities as original lenders (the “Original Lenders”);

 

(5)                                  CREDIT SUISSE in its
capacity as facility agent (the “Facility Agent”);

 

(6)                                  CREDIT SUISSE, CAYMAN ISLANDS BRANCH in its capacity as dollar swingline agent (the “Dollar Swingline Agent”);

 

(7)                                  CREDIT SUISSE in its
capacity as euro swingline agent (the “Euro Swingline Agent”); and

 

(8)                                  NORDEA BANK AB (PUBL) in its
capacity as SEK swingline agent (the “SEK Swingline Agent”).

 

IT IS AGREED as follows:

 

SECTION 1

INTERPRETATION

 

1.                                       DEFINITIONS AND INTERPRETATION

 

1.1                                 Definitions

 

In this Agreement:

 

3

 

“Additional
Borrower” means any wholly owned Subsidiary of ABB that has become
an Additional Borrower in accordance with Clause 24.2 (Additional Borrowers).

 

“Advance”
means an advance made or to be made under the Facility (including, unless the
context otherwise requires, a Swingline Advance) or the principal amount
outstanding for the time being of that advance.

 

“Affiliate”
means, in relation to any person, a Subsidiary of that person or a Holding
Company of that person or any other Subsidiary of that Holding Company.

 

“Agents”
means the Dollar Swingline Agent, the Euro Swingline Agent, the SEK Swingline
Agent and the Facility Agent, and “Agent”
means, as the context may require, any of them.

 

“Agreed
Jurisdiction” means any of the United States of America,
Switzerland, Guernsey, any country that is, at the date of this Agreement, a
member of the European Union (other than Cyprus, Estonia, Latvia, Lithuania,
Slovakia and Slovenia) and any other country approved by all the Lenders.

 

“Authorisation”
means an authorisation, consent, approval, resolution, licence, exemption,
filing or registration.

 

“Availability
Period” means the period from the date of this Agreement up to and
including the date falling one week before the Termination Date.

 

“Available
Commitment” means a Lender’s Commitment minus:

 

(a)                                  the Base Currency Amount of its participation in any outstanding Advances
(including any Separate Advances); and

 

(b)                                 in relation to any proposed Utilisation, the Base Currency Amount of its
participation in any Advances that are due to be made on or before the proposed
Utilisation Date,

 

other than, in either case, that Lender’s
participation in any Advances that are due to be repaid or prepaid on or before
the proposed Utilisation Date.

 

“Available Dollar
Swingline Commitment” means a Dollar Swingline Lender’s Dollar
Swingline Commitment minus:

 

(a)                                  the Base Currency Amount of its participation in any outstanding Dollar
Swingline Advances; and

 

(b)                                 in relation to any proposed Utilisation by way of a Dollar Swingline
Advance, the Base Currency Amount of its participation in any Dollar Swingline
Advances that are due to be made on or before the proposed Utilisation Date,

 

other than, in either case, that Dollar Swingline
Lender’s participation in any Dollar Swingline Advances that are due to be
repaid or prepaid on or before the proposed Utilisation Date.

 

“Available Dollar
Swingline Facility” means the aggregate for the time being of each
Dollar Swingline Lender’s Available Dollar Swingline Commitment.

 

“Available Euro Swingline Commitment” means
a Euro Swingline Lender’s Euro Swingline Commitment minus:

 

4

 

(a)                                  the Base Currency Amount of its participation in any outstanding Euro
Swingline Advances; and

 

(b)                                 in relation to any proposed Utilisation by way of a Euro Swingline
Advance, the Base Currency Amount of its participation in any Euro Swingline
Advances that are due to be made on or before the proposed Utilisation Date,

 

other than, in either case, that Euro Swingline
Lender’s participation in any Euro Swingline Advances that are due to be repaid
or prepaid on or before the proposed Utilisation Date.

 

“Available Euro
Swingline Facility” means the aggregate for the time being of each
Euro Swingline Lender’s Available Euro Swingline Commitment.

 

“Available
Facility” means the aggregate for the time being of each Lender’s
Available Commitment.

 

“Available SEK
Swingline Commitment” means a SEK Swingline Lender’s SEK Swingline
Commitment minus:

 

(a)                                  the Base Currency Amount of its participation in any outstanding SEK
Swingline Advances; and

 

(b)                                 in relation to any proposed Utilisation by way of a SEK Swingline
Advance, the Base Currency Amount of its participation in any SEK Swingline
Advances that are due to be made on or before the proposed Utilisation Date,

 

other than, in either case, that SEK Swingline
Lender’s participation in any SEK Swingline Advances that are due to be repaid
or prepaid on or before the proposed Utilisation Date.

 

“Available SEK
Swingline Facility” means the aggregate for the time being of each
SEK Swingline Lender’s Available SEK Swingline Commitment.

 

“Base Currency”
means Dollars.

 

“Base Currency
Amount” means, in relation to an Advance, the amount specified in
the Utilisation Request delivered by the relevant Borrower for that Advance
(or, if the amount requested is not denominated in the Base Currency, that
amount converted into the Base Currency at the Facility Agent’s Spot Rate of
Exchange on the date which is 3 Business Days before the Utilisation Date or,
if later, on the date the Facility Agent receives the Utilisation Request)
adjusted to reflect any repayment or prepayment of the Advance.

 

“Borrower
Accession Letter” means a letter substantially in the form set out
in Schedule 6 (Form of Borrower
Accession Letter).

 

“Borrowers”
means each Original Borrower and each Additional Borrower, provided that it has not been released from
its rights and obligations under this Agreement in accordance with Clause 24.3
(Resignation of a Borrower).

 

“Break Costs”
means the amount (if any) by which:

 

(a)                                  the interest (excluding the Margin) which a Lender should have received
for the period from the date of receipt of all or any part of its participation
in an Advance or Unpaid Sum to the last day of the current Interest Period in
respect

 

5

 

of that Advance or Unpaid Sum, had the principal
amount or Unpaid Sum received been paid on the last day of that Interest
Period;

 

exceeds:

 

(b)                                 the amount which that Lender would be able to obtain by placing an amount
equal to the principal amount or Unpaid Sum received by it on deposit with a
leading bank in the Relevant Interbank Market for a period starting on the
Business Day following receipt or recovery and ending on the last day of the
current Interest Period.

 

“Business Day”
means:

 

(a)                                  in relation to a Dollar Swingline Advance a day (other than a Saturday or
a Sunday) on which banks are open for general business in New York;

 

(b)                                 in relation to a SEK Swingline Advance a day (other than a Saturday or a Sunday)
on which banks are open for general business in Stockholm;

 

(c)                                  in relation to any Advance (not being a Dollar Swingline Advance or a SEK
Swingline Advance) a day (other than a Saturday or Sunday) on which banks are
open for general business in London, and:

 

(i)                                     (in relation to any date for payment or purchase of a currency other than
Euro) the principal financial centre of the country of that currency; or

 

(ii)                                  (in relation to any date for payment or purchase of Euro) any TARGET Day;
and

 

(d)                                 for all other purposes, a day (other than a Saturday or Sunday) on which
banks are open for general business in London.

 

“Commitment”
means:

 

(a)                                  in relation to an Original Lender, the amount in the Base Currency set
opposite its name under the heading “Commitment”
in Part I of Schedule 1 (The Original
Lenders) and the amount of any other Commitment transferred to it
under this Agreement or assumed by it in accordance with Clause 2.2 (Increase); and

 

(b)                                 in relation to any other Lender, the amount of any Commitment transferred
to it under this Agreement or assumed by it in accordance with Clause 2.2 (Increase),

 

to the extent not cancelled, reduced or transferred
by it under this Agreement.

 

“Default”
means an Event of Default or any event or circumstance specified in Clause 22 (Events of Default) which (with the expiry
of a grace period or the giving of any notice specified in Clause 22 (Events of Default)) would be an Event of
Default.

 

“Defaulting
Lender” means any Lender:

 

(a)                                  which has failed to make its participation in an Advance available or has
notified the Facility Agent that it will not make its participation in an
Advance available by the Utilisation Date of that Advance in accordance with
Clause 5.4 (Lenders’ participation);

 

(b)                                 which has otherwise rescinded or repudiated a Finance Document; or

 

6

 

(c)                                  with respect to which an Insolvency Event has occurred and is continuing,

 

unless, in the case of paragraph (a) above:

 

(i)                                     its failure to pay is caused by:

 

(A)                         administrative or technical error; or

 

(B)                           a Disruption Event,

 

and
payment is made within 3 Business Days of its due date; or

 

(ii)                                  the Lender is disputing in good faith whether it is contractually obliged
to make the payment in question.

 

“Disruption Event”
means either or both of:

 

(a)                                  a material disruption to those payment or communications systems or to
those financial markets which are, in each case, required to operate in order
for payments to be made in connection with the Facility (or otherwise in order
for the transactions contemplated by the Finance Documents to be carried out)
which disruption is not caused by, and is beyond the control of, any of the
Parties; or

 

(b)                                 the occurrence of any other event which results in a disruption (of a
technical or systems-related nature) to the treasury or payments operations of
a Party preventing that, or any other Party:

 

(i)                                     from performing its payment obligations under the Finance Documents; or

 

(ii)                                  from communicating with other Parties in accordance with the terms of the
Finance Documents,

 

and which (in either such case) is not caused by,
and is beyond the control of, the Party whose operations are disrupted.

 

“Dollar Swingline
Advance” means any advance made or to be made under the Dollar
Swingline Facility pursuant to a Utilisation Request under Clause 5.5 (Delivery of a Utilisation Request for a Swingline
Advance).

 

“Dollar Swingline
Commitment” means:

 

(a)                                  in relation to an Original Lender which is a Dollar Swingline Lender, the
amount set opposite its name under the heading “Dollar Swingline Commitment” in Part II of Schedule 1 (The Dollar Swingline Lenders) and the
amount of any other Dollar Swingline Commitment transferred to it under this
Agreement or assumed by it in accordance with Clause 2.2 (Increase); and

 

(b)                                 in relation to any other Dollar Swingline Lender, the amount of any
Dollar Swingline Commitment transferred to it under this Agreement or assumed
by it in accordance with Clause 2.2 (Increase),

 

to the extent not cancelled, reduced or transferred
by it under this Agreement.

 

“Dollar Swingline
Facility” means the dollar swingline facility forming part of the
Facility as described in paragraph (a) of Clause 2.1 (The Facility).

 

7

 

“Dollar Swingline
Lender” means:

 

(a)                                  any Original Lender whose name is set out in Part II of Schedule 1 (The Dollar Swingline Lenders); and

 

(b)                                 any bank which has become a Party as a Lender in accordance with Clause
2.2 (Increase) or Clause 23 (Changes to the Lenders) and to whom a
Dollar Swingline Commitment has been transferred or by whom a Dollar Swingline
Commitment has been assumed,

 

which in each case has not ceased to have a Dollar
Swingline Commitment.

 

“Dollar Swingline
Rate” means, at any time, the higher of:

 

(a)                                  the Prime Rate; and

 

(b)                                 the Federal Funds Effective Rate plus 0.50 per cent. per annum.

 

“Dutch Borrower”
means ABB Capital B.V. and any Additional Borrower which is incorporated or
established in The Netherlands.

 

“Environmental
Law” means any applicable law in any jurisdiction in which any Group
Company conducts business which relates to the pollution or protection of the
environment or harm to or the protection of human health or the health of
animals or plants.

 

“ERISA”
means the Employee Retirement Income Security Act of 1974 of the United States
of America and the regulations promulgated and the rulings issued thereunder.

 

“EURIBOR”
means, in relation to any Advance (other than a Euro Swingline Advance) in
Euro:

 

(a)                                  the applicable Screen Rate; or

 

(b)                                 (if no Screen Rate is available for the period of that Advance) the
arithmetic mean of the rates (rounded upwards to four decimal places) as
supplied to the Facility Agent at its request quoted by the Reference Banks to
leading banks in the European interbank market,

 

as of the Specified Time on the Quotation Day for
the offering of deposits in Euro for a period comparable to the Interest Period
of the relevant Advance.

 

“Euro Swingline
Advance” means any advance made or to be made under the Euro
Swingline Facility pursuant to a Utilisation Request under Clause 5.5 (Delivery of a Utilisation Request for a Swingline
Advance).

 

“Euro Swingline
Commitment” means:

 

(a)                                  in relation to an Original Lender which is a Euro Swingline Lender, the
amount (in the Base Currency) set opposite its name under the heading “Euro Swingline Commitment” in Part III
of Schedule 1 (The Euro Swingline Lenders)
and the amount of any other Euro Swingline Commitment transferred to it under
this Agreement or assumed by it in accordance with Clause 2.2 (Increase); and

 

(b)                                 in relation to any other Euro Swingline Lender, the amount of any Euro
Swingline Commitment transferred to it under this Agreement or assumed by it in
accordance with Clause 2.2 (Increase),

 

8

 

to the extent not cancelled, reduced or transferred
by it under this Agreement.

 

“Euro Swingline
Facility” means the euro swingline facility forming part of the
Facility as described in paragraph (b) of Clause 2.1 (The Facility).

 

“Euro Swingline
Lender” means:

 

(a)           any Original Lender whose name is set out in Part III of Schedule 1
(The Euro Swingline Lenders); and

 

(b)           any bank which has become Party as a Lender in accordance with Clause 2.2
(Increase) or Clause 23 (Changes to the Lenders) and to whom a Euro
Swingline Commitment has been transferred or by whom a Euro Swingline
Commitment has been assumed,

 

which in each case has not ceased to have a Euro
Swingline Commitment.

 

“Euro Swingline
Rate” means, at any time, the aggregate of:

 

(a)           the arithmetic mean of the rates per annum (rounded upwards to four
decimal places) as supplied to the Euro Swingline Agent at its request quoted
by each Reference Bank to leading banks in the European interbank market as of
11.00 a.m. Brussels time on the Utilisation Date for that Euro Swingline
Advance for the offering of deposits in Euro for a period comparable to the
Interest Period for the relevant Euro Swingline Advance and for settlement on
that day;

 

(b)           the Margin; and

 

(c)           the Mandatory Cost (if any).

 

“Event of Default”
means any event or circumstance specified as such in Clause 22 (Events of Default).

 

“Existing Credit
Facility” means the US$2,000,000,000 multicurrency revolving credit
facility made available pursuant to a multicurrency revolving facilities agreement
dated 4 July 2005, as amended and restated from time to time (including
pursuant to an amendment and restatement agreement dated 27 June 2007).

 

“Existing Lender”
has the meaning given to that term in Clause 23.1 (Assignments and transfers by the Lenders).

 

“Facility”
means the loan facility made available under this Agreement as described in
Clause 2.1 (The Facility)
incorporating a dollar swingline facility, a euro swingline facility and an SEK
swingline facility.

 

“Facility Agent’s
Spot Rate of Exchange” means the Facility Agent’s Spot Rate of
Exchange for the purchase of the relevant currency with the Base Currency in
the London foreign exchange market at or about 11:00 a.m. on a particular
day.

 

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

 

“Federal Funds
Effective Rate” shall mean, for any day, the weighted average of the
rates on overnight federal funds transactions with members of the United States
Federal Reserve System arranged by federal funds brokers, as published on the
next succeeding

 

9

 

Business Day by the Federal Reserve Bank of New
York, or, if such rate is not so published for any day that is a Business Day,
the average (rounded upwards, if necessary, to the next 1/100 of 1%) of the
quotations for the day for such transactions received by the applicable Agent
from three federal funds brokers of recognised standing selected by it.

 

“Fee Letter”
means the fees letter dated on or around the date of this Agreement from the
Original Lenders to ABB, the fees letter dated on or around the date of this
Agreement from the Mandated Lead Arrangers to ABB, the agency fees letter from
the Facility Agent to ABB and the swingline agency fees letter dated on or
around the date of this Agreement from the SEK Swingline Agent to ABB setting
out the fees referred to in Clause 12 (Fees).

 

“Finance Document”
means this Agreement, any Fee Letter, any Borrower Accession Letter, any
Resignation Letter and any other document designated as such in writing by the
Facility Agent and ABB.

 

“Finance Party”
means any of the Agents, the Mandated Lead Arrangers and the Lenders.

 

“GAAP”
means, in relation to a company, generally accepted accounting principles in
its jurisdiction of incorporation, US GAAP or IFRS, as applied by ABB in its
consolidated financial statements.

 

“Group”
means ABB and its Subsidiaries and “Group
Company” means any one of them.

 

“Holding Company”
means, in relation to a company or corporation, any other company or
corporation in respect of which it is a Subsidiary.

 

“IBOR”
means, as appropriate, LIBOR, STIBOR, or EURIBOR.

 

“IFRS”
means international accounting standards as issued by the International
Accounting Standards Board.

 

“Impaired Agent”
means an Agent at any time when:

 

(a)           it has failed to make (or has notified a Party that it will not make) a
payment required to be made by it under the Finance Documents by the due date
for payment;

 

(b)           it otherwise rescinds or repudiates a Finance Document;

 

(c)           (if it is also a Lender) it is a Defaulting Lender under paragraph (a) or
(b) of the definition of “Defaulting Lender”; or

 

(d)           an Insolvency Event has occurred and is continuing with respect to it;

 

unless,
in the case of paragraph (a) above:

 

(i)            its
failure to pay is caused by:

 

(A)          administrative or technical error; or

 

(B)           a Disruption Event; and

 

payment
is made within 3 Business Days of its due date; or

 

10

 

(ii)           the relevant Agent is disputing in good faith whether it is contractually
obliged to make the payment in question.

 

“Increase
Confirmation” means a confirmation substantially in the form set out
in Schedule 10 (Form of Increase
Confirmation).

 

“Increase Lender”
has the meaning given to that term in Clause 2.2 (Increase).

 

“Indebtedness”
means, in relation to a person, its obligations (whether present or future,
actual or contingent, as principal or surety) for the payment or repayment of
money (whether in respect of interest, principal or otherwise) incurred in
respect of:

 

(a)           moneys borrowed;

 

(b)           any bond, note, loan stock, debenture or similar instrument;

 

(c)           any acceptance credit, bill discounting, note purchase, factoring or
documentary credit facility (or dematerialised equivalent);

 

(d)           any lease required under GAAP as at the date hereof to be treated as a
finance lease;

 

(e)           receivables sold or discounted (other than any receivables to the extent
that they are sold on a non-recourse basis);

 

(f)            any guarantee, bond, stand-by letter of credit or other similar
instrument issued in connection with the performance of payment obligations;

 

(g)           any interest rate or currency swap agreement or any other hedging or
derivatives instrument or agreement (and, when calculating the value of such
agreement(s) or instrument(s), only the marked to market value (or, if any
actual amount is due as a result of the termination or close-out of such
agreement(s) or instrument(s), that amount) shall be taken into account);

 

(h)           any arrangement entered into primarily as a method of raising finance
pursuant to which any asset sold or otherwise disposed of by that person is or
may be leased to or re-acquired by a Group Company (whether following the
exercise of an option or otherwise); or

 

(i)            any guarantee, indemnity or similar insurance against financial loss
given in respect of the obligation of any person falling within any of
paragraphs (a) to (h) above.

 

“Information
Package” means the following documents concerning the Group prepared
by ABB in relation to the Facility and distributed to selected banks prior to the
date of this Agreement:

 

(a)           abbreviated structure chart showing the position of the Obligors within
the Group as at 25 August 2009;

 

(b)           the annual reports of ABB and each of the Borrowers in respect of the
year ended 31 December 2008;

 

(c)           the half-yearly press releases and financial statements of ABB in respect
of the period to 30 June 2009; and

 

11

 

(d)           the presentation made on 23 July 2009 in connection with the
half-yearly statements referred to at paragraph (c) above.

 

“Insolvency Event”
in relation to a Finance Party means that the Finance Party:

 

(a)           is dissolved (other than pursuant to a consolidation, amalgamation or
merger);

 

(b)           is insolvent and under an insolvency, bankruptcy or governmental proceeding
or process:

 

(i)            that is not directly or indirectly undertaken for the purpose of
restructuring, consolidating, amalgamating, merging, rehabilitating or
reorganising that Finance Party to enable that Finance Party to continue its
business; and

 

(ii)           that is not dismissed, discharged, stayed or restrained in each case
within 30 days of its institution or presentation;

 

(c)           (except where such action is directly or indirectly undertaken for the
purpose of restructuring, consolidating, amalgamating, merging, rehabilitating
or reorganising that Finance Party to enable it to continue its business)
institutes or has instituted against it, by a regulator, supervisor or any
similar official with primary insolvency, rehabilitative or regulatory
jurisdiction over it in the jurisdiction of its incorporation or organisation
or the jurisdiction of its head or home office, a proceeding seeking a judgment
of insolvency or bankruptcy or any other relief under any bankruptcy or
insolvency law or other similar law affecting creditors’ rights, or a petition
is presented for its winding-up or liquidation by it or such regulator,
supervisor or similar official and such proceeding or petition is not
dismissed, discharged, stayed or restrained in each case within 30 days of its
institution or presentation;

 

(d)           (except where such action is directly or indirectly undertaken for the
purpose of restructuring, consolidating, amalgamating, merging, rehabilitating
or reorganising that Finance Party to enable it to continue its business) has a
resolution passed for its winding-up, official management or liquidation;

 

(e)           (except where such action is directly or indirectly undertaken for the
purpose of restructuring, consolidating, amalgamating, merging, rehabilitating
or reorganising that Finance Party to enable it to continue its business) seeks
or becomes subject to the appointment of an administrator, provisional
liquidator, conservator, receiver, trustee, custodian or other similar official
for it or for all or substantially all its assets;

 

(f)            causes or is subject to any event with respect to it which, under the
applicable laws of any jurisdiction, has an analogous effect to any of the
events specified in paragraphs (a) to (e) above; or

 

(g)           takes any action in furtherance of, or indicating its consent to,
approval of, or acquiescence in, any of the foregoing acts.

 

“Interest Period”
means, in relation to an Advance, each period determined in accordance with
Clause 10 (Interest
Periods) and, in relation to an Unpaid Sum, each period
determined in accordance with Clause 9.3 (Default interest).

 

“Lender”
means:

 

(a)           any Original Lender; and

 

12

 

(b)           any bank which has become a Party as a Lender in accordance with Clause
2.2 (Increase) or Clause 23 (Changes
to the Lenders),

 

which in each case has not ceased to be a Party in
accordance with the terms of this Agreement.

 

“LIBOR”
means, in relation to any Advance (other than an Advance in Euro or SEK or a
Swingline Advance):

 

(a)           the applicable Screen Rate; or

 

(b)           (if no Screen Rate is available for the currency or period of that
Advance) the arithmetic mean of the rates (rounded upwards to four decimal
places) as supplied to the Facility Agent at its request quoted by the
Reference Banks to leading banks in the London interbank market,

 

as of the Specified Time on the Quotation Day for
the offering of deposits in the currency of that Advance and for a period
comparable to the Interest Period for that Advance.

 

“Majority Lenders”
means a Lender or Lenders:

 

(a)           whose Commitments aggregate more than 662/3 per cent. of the Total
Commitments; or

 

(b)           if the Total Commitments have been reduced to zero, whose Commitments
aggregate more than 662/3 per cent. of the Total Commitments immediately
before the reduction.

 

“Mandatory Cost”
means the percentage rate per annum calculated by the Facility Agent in
accordance with Schedule 8 (Mandatory Cost).

 

“Margin”
means, at any time in relation to an Advance (other than a Dollar Swingline
Advance) 100 basis points per annum.

 

“Material Adverse
Effect” means a material adverse effect on the ability of the
Obligors (taken as a whole) to perform their payment obligations under the
Finance Documents.

 

“Material
Subsidiary” shall mean:

 

(a)           as at the date of this Agreement, each Borrower and any Subsidiary of ABB
that is listed in Schedule 9 (Material Subsidiaries); and

 

(b)           at any time thereafter,

 

(i)            each Borrower; and

 

(ii)           any Subsidiary of ABB, that:

 

(A)          is the holding company of a country (not a region) and that, together
with its Subsidiaries, has combined third party revenues or third party assets
in excess of 5 per cent. of the consolidated revenues or consolidated total
assets of the Group;

 

(B)           on a non-consolidated (legal entity) basis has third party revenues or
third party assets in excess of 10 per cent. of the consolidated revenues or
consolidated total assets of the Group; or

 

13

 

(C)           has any notes, bonds, debenture stock, loan stock or other securities outstanding
to non-Group third parties and in respect of which a guarantee, keep-well
agreement or other credit support has been provided by ABB,

 

provided always that:

 

(I)            the term “revenues” shall exclude any revenues attributable to activities
classified as discontinued operations in the consolidated financial statements
of the Group and the term “assets” shall exclude any assets classified as
held-for-sale or as discontinued operations in the consolidated financial
statements of the Group;

 

(II)           all revenue and asset figures shall be prepared in accordance with
generally accepted accounting principles used in preparation of the
consolidated financial statements of the Group;

 

(III)         “third
party revenues” shall exclude any revenues not included in total revenues in
the consolidated income statement of the Group;

 

(IV)         “third
party assets” shall exclude any assets that are not included in total assets in
the consolidated balance sheet of the Group; and

 

(V)           all revenue and asset figures shall be for the most recently completed
financial year of ABB.

 

“Month”
means a period starting on one day in a calendar month and ending on the
numerically corresponding day in the next calendar month, except that:

 

(a)           (subject to paragraph (c) below) if the numerically corresponding
day is not a Business Day, that period shall end on the next Business Day in
that calendar month in which that period is to end if there is one, or if there
is not, on the immediately preceding Business Day;

 

(b)           if there is no numerically corresponding day in the calendar month in
which that period is to end, that period shall end on the last Business Day in
that calendar month; and

 

(c)           if an Interest Period begins on the last Business Day of a calendar
month, that Interest Period shall end on the last Business Day in the calendar
month in which that Interest Period is to end.

 

The above rules will only apply to the last
Month of any period.

 

“Moody’s”
means Moody’s Investor Services, Inc., or any successor thereto.

 

“New Lender”
has the meaning given to that term in Clause 23.1 (Assignments and transfers by the Lenders).

 

“Obligors”
means the Borrowers and the Guarantor.

 

“Optional
Currency” means a currency (other than the Base Currency) which
complies with the conditions set out in Clause 4.3 (Conditions relating to Optional Currencies).

 

14

 

“Original
Obligors” means the Original Borrowers and the Guarantor.

 

“Original
Financial Statements” means:

 

(a)           in relation to ABB, the audited consolidated financial statements of the
Group for the financial year ended 31 December 2008;

 

(b)           in relation to each Original Borrower, its financial statements for its
financial year ended 31 December 2008 (audited if available); and

 

(c)           in relation to any Additional Borrower, its financial statements
delivered pursuant to Part II of Schedule 2 (Additional Borrower Conditions Precedent) (audited if
available).

 

“Outstandings”
means the aggregate of the Base Currency Amount from time to time of each of
the Advances.

 

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

 

“Party”
means a party to this Agreement and includes its successors in title, permitted
assigns and permitted transferees.

 

“Prime Rate”
means, in respect of any Dollar Swingline Advance, for any day, the rate of
interest per annum determined from time to time by the Dollar Swingline Agent
to be its prime rate in effect at its principal office in New York City and
notified to the relevant Borrower.

 

“Project Company”
means any Subsidiary of ABB:

 

(a)           which is a single purpose company whose primary purpose is to invest in,
lend to or carry out a specific project or portfolio of projects; and

 

(b)           none of whose liabilities to repay Project Finance Indebtedness are the
subject of security or a guarantee, indemnity or any similar form of assurance,
undertaking or support by any Group Company save to the extent described in the
definition of Project Finance Indebtedness.

 

“Project Finance
Indebtedness” means:

 

(a)           any Indebtedness of a Project Company incurred to finance the project
constituted by the assets and business of such Project Company or any
Indebtedness of such Project Company incurred to refinance any such
aforementioned Indebtedness; and

 

(b)           where neither the persons to whom such Indebtedness is owed (whether or
not a Group Company) nor any other person shall have any recourse whatsoever to
any Group Company (other than such Project Company) for the repayment or
payment of any sum relating to such Indebtedness other than recourse directly
or indirectly to any Group Company under any form of assurance or undertaking, which
recourse (1) is limited to the enforcement of any share pledge granted by
a Group Company over its shares in such Project Company or the enforcement of
any security granted over a shareholder loan between a Group Company and such
Project Company and/or (2) is limited to a claim for damages for breach of
an obligation (not being a payment obligation) of the person against whom that
recourse is available and/or (3) entitles the creditor for that
Indebtedness or the

 

15

 

relevant Project Company, upon default by the
Project Company (or in other circumstances specified in the documentation
relating to the project) to require a payment to be made (whether to or for the
benefit of that creditor, the Project Company or another person), provided that, in the case of (3), where
that payment is capable of being for an amount which is material either alone
or as a percentage of the Indebtedness financing that project, such recourse is
capable of being called on only during the period on or prior to practical
completion of the project or of that portion of that project being financed by
that Indebtedness; or

 

(c)           which the Majority Lenders shall have agreed to treat as Project Finance Indebtedness
for the purposes of this Agreement.

 

“Qualifying
Lender” has the meaning given to such term in Clause 13.1 (Definitions).

 

“Quotation Day”
means, in relation to any period for which an interest rate is to be determined
(other than in respect of a Swingline Advance):

 

(a)           (if the currency is Sterling) the first day of that period;

 

(b)           (if the currency is Euro) two TARGET Days before the first day of that
period; or

 

(c)           (for any other currency) two Business Days (which for these purposes only
shall mean a day on which banks are open for general business in London) before
the first day of that period,

 

unless market practice differs in the Relevant
Interbank Market for a currency, in which case the Quotation Day for that
currency will be determined by the Facility Agent in accordance with market
practice in the Relevant Interbank Market (and if quotations would normally be
given by leading banks in the Relevant Interbank Market on more than one day,
the Quotation Day will be the last of those days).

 

“Reference Banks”
means, other than in relation to STIBOR, Deutsche Bank Luxembourg S.A. and the
principal London offices of Credit Suisse, Citibank, N.A., London Branch and
HSBC Bank plc and, in relation to STIBOR, the principal Stockholm offices of
Nordea Bank AB (publ), Skandinaviska Enskilda Banken AB (publ) and Svenska
Handesbanken AB (publ) or such other banks as may be appointed by the Facility
Agent in consultation with ABB.

 

“Relevant
Interbank Market” means in relation to Euro, the European interbank
market and, in relation to any other currency, the London interbank market.

 

“Reservations”
means any general principles of law which are set out as qualifications as to
matters of law in any legal opinion delivered to the Facility Agent under
Schedule 2 (Conditions Precedent).

 

“Resignation
Letter” means a letter substantially in the form set out in Schedule
7 (Form of Resignation Letter).

 

“Revolving
Facility Affiliate” means, in respect of a Lender that is a
Swingline Lender, an Affiliate of that Swingline Lender that is itself a Lender.

 

“Rollover Advance”
means one or more Advances (other than Swingline Advances):

 

(a)           made or to be made on the same day that a maturing Advance is due to be repaid;

 

16

 

(b)           the aggregate amount of which is equal to or less than the amount of the
maturing Advance;

 

(c)           in the same currency as the maturing Advance (unless it arose as a result
of the operation of Clause 6.2 (Unavailability
of a currency)); and

 

(d)           made or to be made to a Borrower for the purpose of refinancing a
maturing Advance made to such Borrower.

 

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

 

“Screen Rate”
means:

 

(a)           in relation to LIBOR, the British Bankers Association Interest Settlement
Rate for the relevant currency and period;

 

(b)           in relation to EURIBOR, the percentage rate per annum determined by the
Banking Federation of the European Union for the relevant period; and

 

(c)           in relation to STIBOR, the percentage rate per annum for the relevant
period,

 

displayed on the appropriate page of the
Thomson Reuters screen. If the agreed page is replaced or service ceases
to be available, the Facility Agent may specify another page or service
displaying the appropriate rate after consultation with ABB and the Lenders.

 

“Securitisations”
means any local or global securitisation programme from time to time
established (including as of the date of this Agreement) by any Group Company,
each as may be modified, supplemented, renewed, substituted, varied or amended.

 

“Security”
means any mortgage, charge, assignment by way of security, pledge,
hypothecation, lien and any other security interest of any kind whatsoever.

 

“SEK Swingline
Advance” means any advance made or to be made under the SEK
Swingline Facility pursuant to a Utilisation Request under Clause 5.5 (Delivery of a Utilisation Request for a Swingline
Advance).

 

“SEK Swingline
Commitment” means:

 

(a)           in relation to an Original Lender which is a SEK Swingline Lender, the amount
(in the Base Currency) set opposite its name under the heading “SEK Swingline Commitment” in Part IV
of Schedule 1 (The SEK Swingline Lenders)
and the amount of any other SEK Swingline Commitment transferred to it under
this Agreement or assumed by it in accordance with Clause 2.2 (Increase); and

 

(b)           in relation to any other SEK Swingline Lender, the amount of any SEK
Swingline Commitment transferred to it under this Agreement or assumed by it in
accordance with Clause 2.2 (Increase),

 

to the extent not cancelled, reduced or transferred
by it under this Agreement.

 

“SEK Swingline
Facility” means the SEK swingline facility forming part of the
Facility as described in paragraph (c) of Clause 2.1 (The Facility).

 

17

 

“SEK Swingline
Lender” means:

 

(a)           any Original Lender whose name is set out in Part IV of Schedule 1 (The SEK Swingline Lenders); and

 

(b)           any bank which has become a Party as a Lender in accordance with Clause
2.2 (Increase) or Clause 23 (Changes to the Lenders) and to whom a SEK
Swingline Commitment has been transferred or by whom a SEK Swingline Commitment
has been assumed,

 

which in each case has not ceased to have a SEK
Swingline Commitment.

 

“SEK Swingline
Rate” means, at any time the aggregate of:

 

(a)           the Margin;

 

(b)           the arithmetic mean of the rates (rounded upwards to four decimal places)
as supplied to the SEK Swingline Agent at its request by the Reference Banks to
leading banks in the European interbank market as of 11.00 a.m. Stockholm
time on the Utilisation Date for that SEK Swingline Advance for the offering of
deposits in SEK for a period comparable to the Interest Period for the relevant
SEK Swingline Advance and for settlement on that day; and

 

(c)           the Mandatory Cost (if any).

 

“Separate
Advances” has the meaning given to that term in Clause 7.1 (Repayment of Advances).

 

“Specified Time”
means a time determined in accordance with Schedule 5 (Timetables).

 

“STIBOR”
means in relation to any Advance in SEK (other than a SEK Swingline Advance):

 

(a)           the applicable Screen Rate; or

 

(b)           (if no Screen Rate is available for the relevant currency or the period
of that Advance), the arithmetic mean (rounded upward to four decimal places)
of the rates, as supplied to the Facility Agent at its request, quoted by the
Reference Banks to leading banks in the Stockholm interbank market,

 

as of the Specified Time on the Quotation Day for
the offering of deposits in Swedish Kronor for a period comparable to the
Interest Period for that Advance.

 

“Subsidiary”
means a subsidiary within the meaning of section 1159 of the Companies Act
2006.

 

“Swingline
Advance” means a Dollar Swingline Advance, a Euro Swingline Advance
or a SEK Swingline Advance.

 

“Swingline
Affiliate” means, in respect of a Lender, an Affiliate of that
Lender that is a Swingline Lender.

 

“Swingline Agents”
means the Dollar Swingline Agent, the Euro Swingline Agent and the SEK
Swingline Agent, and “Swingline Agent”
means any of them.

 

“Swingline
Commitment” means, in respect of a Swingline Lender, its Dollar
Swingline Commitment, its Euro Swingline Commitment or its SEK Swingline
Commitment.

 

18

 

“Swingline Lender”
means a Dollar Swingline Lender, a Euro Swingline Lender or a SEK Swingline
Lender.

 

“TARGET2”
means the Trans-European Automated Real-time Gross Settlement Express Transfer
payment system which utilises a single shared platform and which was launched
on 19 November 2007.

 

“TARGET Day”
means any day on which TARGET2 is open for the settlement of payments in Euro.

 

“Tax”
means any tax, levy, impost, duty or other charge or withholding of a similar
nature (including any penalty or interest payable in connection with any
failure to pay or any delay in paying any of the same).

 

“Termination Date”
means the third anniversary of the date of this Agreement.

 

“Total
Commitments” means the aggregate Commitments of the Lenders, being
$2,000,000,000 at the date of this Agreement.

 

“Total
Outstandings” means the aggregate from time to time of the
Outstandings.

 

“Total Swingline
Facility Amount” means the higher of (a) the aggregate Dollar
Swingline Commitments, (b) the aggregate Euro Swingline Commitments and (c) the
aggregate SEK Swingline Commitments, being $750,000,000 as at the date of this
Agreement.

 

“Transfer
Certificate” means a certificate substantially in the form set out
in Schedule 4 (Form of
Transfer Certificate) or any other form agreed between
the Facility Agent and ABB.

 

“Transfer Date”
means, in relation to a transfer, the later of:

 

(a)                                 the proposed Transfer Date specified in the Transfer Certificate; and

 

(b)                                 the date on which the Facility Agent executes the Transfer Certificate.

 

“Unpaid Sum”
means any sum due and payable but unpaid by a Borrower under the Finance
Documents.

 

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

 

“Utilisation”
means a utilisation of the Facility.

 

“Utilisation Date”
means the date of a Utilisation, being the date on which an Advance is to be
made.

 

“Utilisation
Request” means a notice substantially in the form set out in
Schedule 3 (Utilisation
Request).

 

“VAT”
means value added tax as provided for in the Value Added Tax Act 1994 and any
other tax of a similar nature.

 

1.2                               Construction

 

(a)                                 Any reference in this Agreement to:

 

19

 

(i)                       “assets” includes, except in
the definition of Material Subsidiary, present and future properties, revenues
and rights of every description;

 

(ii)                    “bank” means a bank entity that is licensed
to provide banking services in accordance with applicable regulations in its
jurisdiction of incorporation;

 

(iii)                 the “European interbank market” means the
interbank market for Euro operating in Participating Member States;

 

(iv)                a “Finance Document” or any other agreement or
instrument is a reference to that Finance Document or other agreement or
instrument as amended, novated, supplemented, extended, replaced or restated;

 

(v)                   a “person” includes any individual, firm,
company, corporation, government, state or agency of a state or any
association, trust, joint venture, consortium or partnership (whether or not
having separate legal personality);

 

(vi)                a “regulation” includes any regulation, rule,
official directive, request or guideline (whether or not having the force of
law but, if not having the force of law, the compliance with which is
customary) of any governmental, intergovernmental or supranational body,
agency, department or of any regulatory, self-regulatory or other authority or
organisation;

 

(vii)             a “financial year” in relation to ABB, means a
period in respect of which it is required to produce annual audited financial
statements;

 

(viii)          except
where the context otherwise requires, words in the singular include the plural
and in the plural include the singular;

 

(ix)                a
provision of law is a reference to that provision as amended or reenacted; and

 

(x)                   unless a
contrary indication appears, a time of day is a reference to London time.

 

(b)                                 Where there is a reference in this Agreement to any amount, limit or
threshold specified in Dollars, in ascertaining whether or not that amount,
limit or threshold has been attained, broken or achieved, as the case may be, a
non-Dollar amount shall, unless the context otherwise requires or the contrary
is indicated, be counted on the basis of the equivalent in Dollars of that
amount using the Facility Agent’s Spot Rate of Exchange.

 

(c)                                  Section, Clause and Schedule headings are for ease of reference only.

 

(d)                                 Unless a contrary indication appears, a term used in any other Finance
Document or in any notice given under or in connection with any Finance
Document has the same meaning in that Finance Document or notice as in this
Agreement.

 

20

 

(e)                                  A Default is “continuing” if
it has not been remedied or waived.

 

(f)                                   For the avoidance of doubt, where any person is party to this Agreement
in more than one capacity, reference to that person in one capacity shall not
(except where the context otherwise requires) include reference to it in any
other capacity.

 

(g)                                  References to a
Commitment of Citibank, N.A./Citibank, N.A., London Branch/Citibank
International plc (together the “Citi Entities”) in relation to the Facility shall
be construed as a reference to the aggregate Commitment of Citibank, N.A.,
Citibank, N.A., London Branch and Citibank International plc in relation to the
Facility (as allocated between the Citi Entities in such proportions and such
amounts as each Citi Entity notifies to the Facility Agent from time to time).

 

(h)                                 Barclays
Capital means the investment banking division of Barclays Bank PLC.

 

1.3                               Dutch Terms

 

In this Agreement, where it relates to a Dutch
entity, a reference to:

 

(a)                                 a necessary action to authorise where applicable, includes without
limitation:

 

(i)                                     any action required to comply with the Dutch Works Councils Act (Wet op de ondernemingsraden); and

 

(ii)                                  obtaining an unconditional positive advice (advies) from the competent works council(s);

 

(b)                                 a winding-up, administration or dissolution includes a Dutch entity
being:

 

(i)                                     declared bankrupt (failliet verklaard);

 

(ii)                                  dissolved (ontbonden);

 

(c)                                  a moratorium includes surséance van
betaling and granted a moratorium includes surséance verleend;

 

(d)                                 a trustee in bankruptcy includes a curator;

 

(e)                                  an administrator includes a bewindvoerder;

 

(f)                                   a(n) (administrative) receiver does not include a curator or bewindvoerder; and

 

(g)                                  an attachment includes a beslag.

 

1.4                               Currency Symbols and Definitions

 

“$”
and “Dollars” denote the lawful
currency of the United States of America, “£”
and “Sterling” denote the lawful
currency of the United Kingdom, “Euro”
denotes the single currency unit of the European Union as constituted by the
Treaty of Rome (as amended) and “SEK”
denotes the lawful currency of Sweden.

 

21

 

1.5                               Third Party Rights

 

A person who is not a Party has no right under the
Contracts (Rights of Third Parties) Act 1999 to enforce any term of this
Agreement.

 

22

 

SECTION 2

THE FACILITY

 

2.                                      THE FACILITY

 

2.1                               The Facility

 

Subject to the terms of this Agreement, the Lenders make available to
the Borrowers, a multicurrency revolving credit facility (the “Facility”) in a maximum aggregate amount of
$2,000,000,000, including within it the following sub-facilities:

 

(a)                                      a Dollar
revolving swingline facility (the “Dollar
Swingline Facility”) in a maximum aggregate amount equal to the
aggregate Dollar Swingline Commitments;

 

(b)                                      a Euro
revolving swingline facility (the “Euro
Swingline Facility”) in a maximum Base Currency Amount equal to the
aggregate Euro Swingline Commitments; and

 

(c)                                       a SEK revolving
swingline facility (the “SEK Swingline
Facility”) in a maximum Base Currency Amount equal to the aggregate
SEK Swingline Commitments.

 

Each Swingline Commitment of each Lender that is a Swingline Lender
forms part of the Commitment of that Lender. Each Swingline Commitment of each
Swingline Lender that is a Swingline Affiliate of another Lender forms part of
that other Lender’s Commitment. For the avoidance of doubt each Lender and its
Swingline Affiliate shall be treated as having a single participation in the
Facility and a single vote.

 

2.2                               Increase

 

(a)                                 ABB may by
giving prior notice to the Facility Agent by no later than the date falling 90
Business Days after the effective date of a cancellation of (i) the
Available Commitments and/or any Swingline Commitments of a Defaulting Lender
(or its Revolving Facility Affiliate or Swingline Affiliate) in accordance with
paragraph (f) of Clause 8.6 (Right of
replacement or repayment and cancellation in relation to a single Lender) or
(ii) the Commitments and/or any Swingline Commitments of any Lender in
accordance with Clause 8.1 (Lender
Illegality) request that the Total Commitments or the relevant
Swingline Commitments be increased (and the Total Commitments or the relevant
Swingline Commitments shall be so increased) in an aggregate amount in the Base
Currency of up to the amount of the Available Commitments, the relevant
Swingline Commitments or the Commitments so cancelled as follows:

 

(i)                                     the increased
Commitments and/or the relevant Swingline Commitments will be assumed by one or
more Lenders or other banks (each an “Increase
Lender”) (none of which may be a member of the Group) selected by
ABB and each of which confirms its willingness to assume and does assume all
the obligations of a Lender corresponding to that

 

23

 

part of the increased Commitments and/or the relevant Swingline
Commitments which it is to assume, as if it had been an Original Lender;

 

(ii)                                  each of the
Obligors and any Increase Lender shall assume obligations towards one another
and/or acquire rights against one another as the Obligors and the Increase
Lender would have assumed and/or acquired had the Increase Lender been an
Original Lender;

 

(iii)                               each Increase
Lender shall become a Party as a “Lender” and any Increase Lender and each of
the other Finance Parties shall assume obligations towards one another and
acquire rights against one another as that Increase Lender and those Finance
Parties would have assumed and/or acquired had the Increase Lender been an
Original Lender;

 

(iv)                              the Commitments
and Swingline Commitments of the other Lenders shall continue in full force and
effect; and

 

(v)                                 any increase in
the Total Commitments and/or the relevant Swingline Commitments shall take
effect on the date specified by ABB in the notice referred to above or any
later date on which the conditions set out in paragraph (b) below are
satisfied.

 

No Lender shall have any obligation to act as an Increase Lender unless
it indicates that it is willing to do so in accordance with sub-paragraph (i).

 

(b)                                 An increase in
the Total Commitments and/or any Swingline Commitments will only be effective
on:

 

(i)                                     the execution
by the Facility Agent of an Increase Confirmation from the relevant Increase
Lender; and

 

(ii)                                  in relation to
an Increase Lender which is not a Lender immediately prior to the relevant
increase the performance by the Facility Agent of all necessary “know your
customer” or other similar checks under all applicable laws and regulations in
relation to the assumption of the increased Commitments and/or Swingline
Commitments by that Increase Lender, the completion of which the Facility Agent
shall promptly notify to ABB and the Increase Lender.

 

(c)                                  No Swingline
Commitment of a Lender may exceed the Commitment of that Lender or its
Revolving Facility Affiliate pursuant to the operation of this Clause 2.2.
Accordingly where the Swingline Commitments are to be increased pursuant to
this Clause to replace Swingline Commitments of a Swingline Lender that have
been cancelled pursuant to paragraph (f) of Clause 8.6 (Right
of replacement or repayment and cancellation in relation to a single Lender) or Clause 8.1
(Lender Illegality) without a commensurate
cancellation of the Commitments of that Swingline Lender’s Revolving Facility
Affiliate being required at the time of such cancellation, that Revolving
Facility Affiliate shall

 

24

 

(to the extent of its Commitments at the time of the increase in
Swingline Commitments) be required to transfer its Commitments to the relevant
Increase Lender (or its Affiliate) on the terms provided for in Clause 34.4 (Replacement
of a Defaulting Lender) to the extent necessary to ensure that the
Commitments of the Increase Lender (or its Affiliate) are at least equal to
each of the Swingline Commitments assumed by that Increase Lender.

 

(d)                                 Each Increase
Lender, by executing the Increase Confirmation, confirms (for the avoidance of
doubt) that the Facility Agent has authority to execute on its behalf any
amendment or waiver that has been approved by or on behalf of the requisite
Lender or Lenders in accordance with this Agreement on or prior to the date on
which the increase becomes effective.

 

(e)                                  Unless the
Facility Agent otherwise agrees or the increased Commitment and/or Swingline
Commitment is assumed by an existing Lender, ABB shall, on the date upon which
the increase takes effect, promptly on demand pay the Facility Agent the amount
of all costs and expenses (including legal fees) reasonably incurred by it in
connection with any increase in Commitments and/or Swingline Commitments under
this Clause 2.2.

 

(f)                                   ABB may pay to
the Increase Lender a fee in the amount and at the times agreed between ABB and
the Increase Lender in a letter between ABB and the Increase Lender setting out
that fee. A reference in this Agreement to a Fee Letter shall include any
letter referred to in this paragraph.

 

(g)                                  Clause 23.4 (Limitation of responsibility of Existing Lenders)
shall apply mutatis mutandis in this Clause 2.2 in relation to an Increase
Lender as if references in that Clause to:

 

(i)                                     an “Existing Lender” were references to all the
Lenders immediately prior to the relevant increase;

 

(ii)                                  the “New Lender” were references to that “Increase Lender”; and

 

(iii)                               a “re-transfer” and “re-assignment” were
references to respectively a “transfer” and “assignment”.

 

2.3                               Lenders’ rights and obligations

 

(a)                                 The obligations
of each Lender under the Finance Documents are several. Failure by a Lender to
perform its obligations under the Finance Documents does not affect the
obligations of any other Party under the Finance Documents. No Finance Party is
responsible for the obligations of any other Finance Party under the Finance
Documents.

 

(b)                                 The rights of each
Lender under or in connection with the Finance Documents are separate and
independent rights and any debt arising under the Finance Documents to a Lender
from any of the Obligors shall be a separate and independent debt.

 

25

 

(c)                                  A Finance Party
may, except as otherwise stated in the Finance Documents, separately enforce
its rights under the Finance Documents.

 

2.4                               Facility Offices

 

(a)                                 Subject to
paragraph (b) below, a Lender may (i) change its Facility Office for
the purpose of this Agreement and/or (ii) nominate a different Facility
Office for the purposes of making a particular Advance or particular type of
Advance to any Borrower, in which event such Facility Office shall for the
purposes of this Agreement be its Facility Office for that Advance or that type
of Advance but not otherwise.

 

(b)                                 If a Lender
changes its Facility Office or nominates a different Facility Office,
(i) that Lender will notify the Facility Agent and ABB promptly (and, in
any event, within 5 Business Days) of such change or, as the case may be,
nomination, and until it does so, the Facility Agent and ABB will be entitled
to assume that no such change has taken place and (ii) if the country of
such Facility Office is not subject to the Financial Action Task Force any such
change or, as the case may be, nomination shall be subject to the prior written
consent of the Facility Agent.

 

2.5                               Borrowers’ right and obligations hereunder

 

(a)                                 Each Borrower
by its execution of this Agreement or a Borrower Accession Letter irrevocably
appoints ABB to act on its behalf as its agent in relation to the Finance
Documents (in this capacity, the “Borrowers’
Agent”) and irrevocably authorises (i) ABB on its behalf to
supply all information concerning itself contemplated by this Agreement to the
Finance Parties and to give all notices and instructions (including Utilisation
Requests), to execute on its behalf any Borrower Accession Letter and to make
such agreements capable of being given or made by any Borrower notwithstanding
that they may affect such Borrower, without further reference to or the consent
of such Borrower and (ii) each Finance Party to give any notice, demand or
other communication to such Borrower pursuant to the Finance Documents to ABB
on its behalf, and in each case such Borrower shall be bound thereby as though
such Borrower itself had given such notices and instructions (including,
without limitation, any Utilisation Requests) or executed or made such
agreements or received any such notice, demand or other communication.

 

(b)                                 Every act,
omission, agreement, undertaking, settlement, waiver, notice or other
communication given or made by the Borrowers’ Agent or given to the Borrowers’
Agent under this Agreement, or in connection with this Agreement (whether or
not known to any other Borrower and whether occurring before or after such a
Borrower became a Borrower under this Agreement) shall be binding for all
purposes on all Borrowers as if the Borrowers had expressly made, given or concurred
with the same. In the event of any conflict between any notices or other
communications of the Borrowers’ Agent and any Borrower, those of the
Borrowers’ Agent shall prevail.

 

26

 

(c)                                  The Borrowers’
Agent may resign its appointment hereunder by giving not less than ten Business
Days’ prior written notice to that effect to the Facility Agent, provided that no such resignation shall be
effective until a successor consents in writing to the Facility Agent to be
appointed.

 

3.                                      PURPOSE

 

3.1                               Purpose

 

Each Borrower shall apply all amounts borrowed by it under the Facility
for the general corporate purposes of the Group, including, without limitation,
back-stop financing for commercial paper facilities of the Group, provided that no Swingline Advance shall be
used to refinance another Swingline Advance.

 

3.2                               Monitoring

 

No Finance Party is bound to monitor or verify the application of any
amount borrowed pursuant to this Agreement.

 

4.                                      CONDITIONS OF UTILISATION

 

4.1                               Initial
conditions precedent

 

(a)                                 No Utilisation
Request may be served unless the Facility Agent has received all of the
documents and other evidence listed in Part I of Schedule 2 (Conditions Precedent) in form and
substance reasonably satisfactory to the Facility Agent.

 

(b)                                 The Facility
Agent shall notify ABB and the Lenders promptly upon the conditions set out in
paragraph (a) of this Clause 4.1 being satisfied.

 

4.2                               Further
conditions precedent

 

(a)                                 The Lenders
will only be obliged to comply with Clause 5.4 (Lenders’ participation) and Clause 5.8 (Swingline Lenders’ Participation) if on
the date of the Utilisation Request and on the proposed Utilisation Date (in
each case other than in the case of a Rollover Advance):

 

(i)                                     no Default is
continuing or would result from the proposed Advance;

 

(ii)                                  the
representations to be made by ABB pursuant to Clause 19.14 (Repetition) are true in all respects; and

 

(iii)                               such proposed
Utilisation Date is not within 30 days of ABB providing notice to the Facility
Agent in accordance with paragraph (a) of Clause 8.3 (Mandatory Prepayment on Change of Control).

 

(b)                                 An Advance will
not be made if it would result in the Base Currency Amount of all Advances
exceeding the Total Commitments.

 

4.3                               Conditions relating to Optional Currencies

 

A currency will constitute an Optional Currency in relation to an
Advance if it is Sterling, SEK or Euro, or it is readily available in the
amount required and freely convertible into the Base Currency in the Relevant
Interbank Market on the Quotation Day and the Utilisation Date for that Advance
provided that there may not at any
time be Advances outstanding denominated in more than 5 Optional Currencies.

 

27

 

4.4                               Maximum number of Advances

 

(a)                                      No Borrower may
deliver a Utilisation Request if as a result of the proposed Utilisation more
than 10 Advances would be outstanding.

 

(b)                                      Any Advance
made by a single Lender under Clause 6.2 (Unavailability
of a currency) shall not be taken into account in this Clause 4.4.

 

(c)                                       Any Separate
Advance shall not be taken into account in this Clause 4.4.

 

28

 

SECTION 3

UTILISATION

 

5.                                      UTILISATION

 

5.1                               Delivery of a Utilisation Request

 

A Borrower may utilise the Facility (other than for the purpose of
drawing Swingline Advances, which may be drawn in accordance with Clause 5.5 (Delivery of a Utilisation Request for a Swingline
Advance)) by delivery to the Facility Agent of a duly completed
Utilisation Request not later than the Specified Time.

 

5.2                               Completion of a Utilisation Request

 

(a)                                 Each
Utilisation Request delivered to the Facility Agent pursuant to Clause 5.1 (Delivery of a Utilisation Request) is
irrevocable and will not be regarded as having been duly completed unless:

 

(i)                                     the proposed
Utilisation Date is a Business Day within the Availability Period;

 

(ii)                                  the currency
and amount of the Utilisation comply with Clause 5.3 (Currency and amount); and

 

(iii)                               the proposed
Interest Period complies with Clause 10 (Interest
Periods).

 

(b)                                 Only one
Advance may be requested in each Utilisation Request delivered to the Facility
Agent pursuant to Clause 5.1 (Delivery of a
Utilisation Request).

 

5.3                               Currency and amount

 

(a)                                 The currency
specified in a Utilisation Request delivered to the Facility Agent pursuant to
Clause 5.1 (Delivery of a Utilisation
Request) must, in the case of any Advance (not being a Swingline
Advance), be the Base Currency or an Optional Currency.

 

(b)                                 The amount of
the proposed Advance must be:

 

(i)                                     if the currency
selected is the Base Currency, a minimum of $50,000,000 and an integral
multiple of $10,000,000; or

 

(ii)                                  if the currency
selected is Euro, a minimum of Euro50,000,000 and an integral multiple of
Euro10,000,000; or

 

(iii)                               if the currency
selected is SEK, a minimum amount of SEK25,000,000 and an integral multiple of
SEK5,000,000; or

 

(iv)                              if the currency
selected is Sterling, a minimum amount of £25,000,000 and an integral multiple
of £5,000,000; or

 

(v)                                 if the currency
selected is an Optional Currency (other than SEK, Euro or Sterling), in such
minimum amount and multiple as the Facility Agent and ABB may agree,

 

or, in any case, the amount of the Available Facility.

 

29

 

5.4                               Lenders’ participation

 

(a)                                 If the
conditions set out in this Agreement have been met, and subject to Clause 7.1 (Repayment of Advances), each Lender shall
make its participation in each Advance available by the Utilisation Date
through its Facility Office.

 

(b)                                 Subject to
Clause 6.2 (Unavailability of a currency),
the amount of each Lender’s participation in each Advance (not being a
Swingline Advance) will be equal to the proportion borne by its Available
Commitment to the Available Facility immediately prior to making the Advance.

 

(c)                                  The Facility
Agent shall determine the Base Currency Amount of each Advance which is to be
made in an Optional Currency and shall notify each Lender of the amount,
currency and the Base Currency Amount of each Advance, the amount of its
participation in that Advance and (if different) the amount of that
participation to be made available in cash, in each case by the Specified Time.

 

5.5                               Delivery of a Utilisation Request for a Swingline Advance

 

The Borrowers may utilise the Dollar Swingline Facility, the Euro
Swingline Facility or the SEK Swingline Facility by delivery to the relevant
Swingline Agent (with a copy to the Facility Agent) of a duly completed
Utilisation Request not later than the Specified Time.

 

5.6                               Completion of a Utilisation Request for a Swingline Advance

 

(a)                                 Each
Utilisation Request delivered pursuant to Clause 5.5 (Delivery of a Utilisation Request for a Swingline
Advance) is irrevocable and will not be regarded as having been duly
completed unless:

 

(i)                                     it specifies
whether the Swingline Advance is to be a Dollar Swingline Advance, a Euro
Swingline Advance or a SEK Swingline Advance;

 

(ii)                                  the proposed
Utilisation Date is a Business Day within the Availability Period;

 

(iii)                               the currency
and amount of the Utilisation comply with Clause 5.7 (Currency and amount); and

 

(iv)                              the proposed
Interest Period complies with Clause 10 (Interest
Periods).

 

(b)                                 Only one Swingline
Advance may be requested in each Utilisation Request delivered pursuant to
Clause 5.5 (Delivery of a Utilisation
Request for a Swingline Advance).

 

5.7                               Currency and amount

 

(a)                                 The currency
specified in a Utilisation Request delivered pursuant to Clause 5.5 (Delivery of a Utilisation Request for a Swingline
Advance) must be Dollars (in the case of a Dollar Swingline Advance)
or Euro (in the case of a Euro Swingline Advance) or SEK (in the case of a SEK
Swingline Advance).

 

(b)                                 The amount of
the proposed Swingline Advance must be:

 

30

 

(i)                                     in the case of
a Dollar Swingline Advance, a minimum of $50,000,000 and an integral multiple
of $10,000,000 or, if less, the Available Dollar Swingline Facility;

 

(ii)                                  in the case of
a Euro Swingline Advance, a minimum of Euro 50,000,000 and an integral multiple
of Euro 10,000,000 or, if less, the Available Euro Swingline Facility; or

 

(iii)                               in the case of
a SEK Swingline Advance, a minimum of SEK25,000,000 and an integral multiple of
SEK5,000,000 or, if less, the Available SEK Swingline Facility.

 

(c)                                  The amount of a
proposed Dollar Swingline Advance or, as the case may be, the Base Currency
Amount of a proposed Euro Swingline Advance or, as the case may be, the Base
Currency Amount of a proposed SEK Swingline Advance must not, when aggregated
with the Base Currency Amount of all outstanding Swingline Advances outstanding
on the proposed Utilisation Date, exceed the Total Swingline Facility Amount
and the Base Currency Amount of a proposed SEK Swingline Advance must not, when
aggregated with the Base Currency Amount of all outstanding SEK Swingline
Advances outstanding on the proposed Utilisation Date, exceed $200,000,000.

 

5.8                               Swingline Lenders’ participation

 

(a)                                 If the conditions
set out in this Agreement have been met, each Dollar Swingline Lender (in the
case of a Dollar Swingline Advance), Euro Swingline Lender (in the case of a
Euro Swingline Advance) or SEK Swingline Lender (in the case of a SEK Swingline
Advance) shall, on the relevant Utilisation Date, make its participation in
each Dollar Swingline Advance, Euro Swingline Advance or SEK Swingline Advance
(as applicable) available through its Facility Office.

 

(b)                                 The amount of
each Swingline Lender’s participation in each Dollar Swingline Advance, Euro
Swingline Advance or SEK Swingline Advance will be equal to the proportion
borne by its Available Dollar Swingline Commitment or, as the case may be,
Available Euro Swingline Commitment or, as the case may be, Available SEK
Swingline Commitment to the Available Dollar Swingline Facility or, as the case
may be, Available Euro Swingline Facility or as the case may be, Available SEK
Swingline Facility immediately prior to making the Dollar Swingline Advance,
Euro Swingline Advance or SEK Swingline Advance (as applicable).

 

(c)                                  The relevant
Swingline Agent shall notify each relevant Swingline Lender of the amount,
currency and the Base Currency Amount of each Swingline Advance at the
Specified Time.

 

5.9                               Automatic Advance

 

(a)                                 In the event
that a Borrower does not repay a Swingline Advance made to it in full on the
last day of its Interest Period, on the Business Day falling 3 Business Days
prior to such day, that Borrower shall be deemed to have served a

 

31

 

Utilisation Request for an Advance (not being a Swingline Advance) to
be made on such day in the amount and currency of such Swingline Advance and
with an Interest Period of 1 week and such Advance shall be made on such day in
accordance with Clause 5.4 (Lenders’
participation) (ignoring for this purpose the Available Commitment
of any Defaulting Lender) and the proceeds thereof applied in repayment of the
said Swingline Advance.

 

(b)                                 Paragraph
(a) of Clause 4.2 (Further conditions
precedent) shall not apply to any Advance to which this Clause 5.9
refers.

 

6.                                      OPTIONAL CURRENCIES

 

6.1                               Selection of currency

 

The relevant Borrower shall select the currency of an Advance in a
Utilisation Request.

 

6.2                               Unavailability of a currency

 

If before the Specified Time on any Quotation Day:

 

(a)                                 the Facility
Agent has received notice from a Lender that the Optional Currency (other than
Euro, Sterling or SEK) requested is not readily available to it in the amount
required; or

 

(b)                                 a Lender notifies
the Facility Agent that compliance with its obligation to participate in an
Advance in the proposed Optional Currency (other than Euro, Sterling or SEK)
would contravene a law or regulation applicable to it,

 

the Facility Agent will give notice to the relevant Borrower to that
effect by the Specified Time on that day. In this event, any Lender that gives
notice pursuant to this Clause 6.2 will be required to participate in the
Advance in the Base Currency (in an amount equal to that Lender’s proportion of
the Base Currency Amount or, in respect of a Rollover Advance, an amount equal
to that Lender’s proportion of the Base Currency Amount of the maturing Advance
that is due to be repaid) and its participation will be treated as a separate
Advance denominated in the Base Currency during that Interest Period.

 

6.3                               Notification

 

The Facility Agent shall notify the Lenders and the relevant Borrower
of Optional Currency amounts (and the applicable Facility Agent’s Spot Rate of
Exchange) promptly after they are ascertained.

 

32

 

SECTION 4

REPAYMENT, PREPAYMENT AND CANCELLATION

 

7.                                      REPAYMENT

 

7.1                               Repayment of Advances

 

(a)                                 Each Borrower
shall repay each Advance made to it on the last day of its Interest Period.

 

(b)                                 All Advances
must be repaid in full on the Termination Date.

 

(c)                                  At any time
when a Lender becomes a Defaulting Lender, the maturity date of each of the
participations of that Lender (and, if that Defaulting Lender is the Revolving
Facility Affiliate of a Swingline Lender, of that Swingline Lender) in the
Advances then outstanding will be automatically extended to the Termination
Date and will be treated as separate Advances (the “Separate Advances”) denominated in the currency in which the
relevant participations are outstanding.

 

(d)                                 A Borrower to
whom a Separate Advance is outstanding may prepay that Advance by giving 5
Business Days’ prior notice to the Facility Agent. The Facility Agent will
forward a copy of a prepayment notice received in accordance with this
paragraph (d) to the relevant Lender concerned as soon as practicable on
receipt.

 

(e)                                  Interest in
respect of a Separate Advance will accrue for successive Interest Periods
selected by the Borrower by the time and date specified by the Facility Agent
(acting reasonably) and will be payable by that Borrower to the relevant Lender
on the last day of each Interest Period in respect of that Advance.
Notwithstanding paragraph (b) of Clause 9.1 (Calculation of interest), the rate of interest in respect of
any Swingline Advance that becomes a Separate Advance in accordance with this
Clause 7.1 shall be calculated in accordance with paragraph (a) of Clause
9.1 (Calculation of interest)
with effect from the end of the Interest Period during which such Swingline
Advance becomes a Separate Advance.

 

(f)                                   The terms of
this Agreement relating to the Facility generally shall continue to apply to
Separate Advances other than to the extent inconsistent with paragraphs
(c) to (e) above, in which case those paragraphs shall prevail in
respect of any Separate Advance.

 

(g)                                  If one or more
Advances are to be made available to a Borrower:

 

(i)                                     on the same day
that a maturing Advance is due to be repaid by that Borrower;

 

(ii)                                  in the same
currency as the maturing Advance (unless the currency of the maturing Advance
was determined pursuant to the operation of Clause 6.2 (Unavailability of a currency)); and

 

33

 

(iii)                               in whole or in
part for the purpose of refinancing the maturing Advance;

 

the aggregate amount of the new Advance shall be treated as if applied
in or towards repayment of the maturing Advance so that:

 

(A)                               if the amount
of the maturing Advance exceeds the aggregate amount of the new Advance:

 

(1)                                 the relevant Borrower
will only be required to pay an amount in cash in the relevant currency equal
to that excess; and

 

(2)                                 each Lender’s
participation (if any) in the new Advance shall be treated as having been made
available and applied by the Borrower in or towards repayment of that Lender’s
participation (if any) in the maturing Advance and that Lender will not be
required to make its participation in the new Advance available in cash; and

 

(B)                               if the amount
of the maturing Advance is equal to or less than the aggregate amount of the
new Advance:

 

(1)                                 the relevant
Borrower will not be required to make any payment in cash; and

 

(2)                                 each Lender
will be required to make its participation in the new Advance available in cash
only to the extent that its participation (if any) in the new Advance exceeds
that Lender’s participation (if any) in the maturing Advance and the remainder
of that Lender’s participation in the new Advance shall be treated as having
been made available and applied by the Borrower in or towards repayment of that
Lender’s participation in the maturing Advance.

 

8.                                      PREPAYMENT AND CANCELLATION

 

8.1                               Lender Illegality

 

If it becomes unlawful in any jurisdiction for a Lender to perform any
of its obligations as contemplated by this Agreement or to fund its participation
in any Advance:

 

(a)                                 that Lender
shall promptly notify the Facility Agent upon becoming aware of that event;

 

(b)                                 unless the
repayment referred to in paragraph (c) below avoids such unlawfulness,
upon the Facility Agent notifying ABB, the Commitment and/or the relevant
Swingline Commitment of that Lender will be immediately cancelled; and

 

(c)                                  each Borrower
shall, to the extent necessary to avoid such unlawfulness, repay that Lender’s
participation in the Advances made to it on the last day of the Interest Period
for each Advance occurring after the Facility Agent has notified ABB or, if
earlier, the date specified by the Lender in the notice delivered to the

 

34

 

Facility Agent (being no earlier than 5 Business Days after receipt of
such notice or, if earlier, the last day of any applicable grace period
permitted by law).

 

8.2                               Borrower Illegality

 

If it is or becomes unlawful for a Borrower to perform any of its
obligations under the Finance Documents, save where such obligations are not,
or could reasonably be considered not to be, material to the interests of the
Lenders under the Finance Documents, that Borrower shall within 15 Business
Days of being served with notice by the Facility Agent so to do, repay all
Advances owing by it, together with accrued interest and all other amounts
owing by it under the Finance Documents.

 

8.3                               Mandatory Prepayment on Change of Control

 

If any person (whether alone or together with any associated person)
becomes the beneficial owner of shares in the issued share capital of ABB
carrying the right to more than 50% of the votes exercisable at a general
meeting of ABB:

 

(a)                                 ABB shall
promptly notify the Facility Agent upon becoming aware of that event; and

 

(b)                                 if within 15
days following such notification to the Facility Agent any Lender so requests
(by delivering a notice to ABB through the Facility Agent), each Borrower
shall, no later than 15 days following such request, prepay that Lender’s
portion of all outstanding Advances, together with accrued interest thereon and
all other amounts owing to such Lender hereunder and cancel that Lender’s
Commitments and/or Swingline Commitments.

 

For the purposes of this Clause 8.3, “associated
person” means, in relation to any person, a person who is (i) “acting in concert” (as defined in the City
Code on Takeovers and Mergers) with that person or (ii) a “connected person” (as defined in section
839 of the Income and Corporation Taxes Act 1988) of that person.

 

8.4                               Voluntary cancellation

 

ABB may, if it gives the Facility Agent not less than 5 Business Days’
(or such shorter period as the Majority Lenders may agree) prior notice, cancel
the whole or any part (being a minimum amount of $25,000,000 and an integral
multiple of $10,000,000) of the Available Facility, the Available Dollar
Swingline Facility, the Available Euro Swingline Facility or the Available SEK
Swingline Facility. Any cancellation under this Clause 8.4 shall reduce
rateably the Commitments of the Lenders or the relevant Swingline Commitments
of the relevant Swingline Lenders.

 

8.5                               Voluntary Prepayment

 

A Borrower may, if it gives the Facility Agent not less than 5 Business
Days’ (in the case of any Advance other than a Swingline Advance) or 1 Business
Day’s (in the case of any Swingline Advance) (or in either case such shorter
period as the Majority Lenders may agree) prior notice, prepay the whole or any
part of an Advance made to it (but if in part, being an amount that reduces the
Base Currency Amount of the Advance by a minimum amount of $25,000,000 and
rounded as the Facility Agent may reasonably require).

 

35

 

8.6                               Right of replacement or repayment and cancellation in relation to a
single Lender

 

(a)                                 If:

 

(i)                                     any sum payable
to any Lender by ABB or a Borrower is required to be increased under paragraph
(c) of Clause 13.2 (Tax gross-up);
or

 

(ii)                                  any Lender
claims indemnification from ABB or a Borrower under Clause 13.3 (Tax indemnity) or Clause 14.1 (Increased costs),

 

then ABB may, whilst the circumstance giving rise to the requirement
for that increase or indemnification continues, give the Facility Agent notice
of cancellation of the Commitment and/or any Swingline Commitment of that
Lender and/or of its Revolving Facility Affiliate or its Swingline Affiliate
and its intention to procure the repayment of the participation in the Advances
of that Lender and/or of its Revolving Facility Affiliate or its Swingline
Affiliate or give the Facility Agent notice of its intention to replace that
Lender and/or its Revolving Facility Affiliate or its Swingline Affiliate in
accordance with paragraph (d) below.

 

(b)                                 On receipt of a
notice of cancellation referred to in paragraph (a) above, the Commitment
and/or the relevant Swingline Commitment of the relevant Lender and/or its
Revolving Facility Affiliate or its Swingline Affiliate shall immediately be
reduced to zero.

 

(c)                                  On the last day
of each Interest Period in respect of an Advance which ends after ABB has given
notice of cancellation under paragraph (a) above (or, if earlier, the date
specified by ABB in that notice), each Borrower to whom an Advance is
outstanding shall repay that Lender’s participation in that Advance.

 

(d)                                 ABB may, in the
circumstances set out in paragraph (a) above, on 5 Business Days’ prior
notice to the Facility Agent and that Lender replace that Lender (and any
Revolving Facility Affiliate or Swingline Affiliate of that Lender) by
requiring such Lender and/or its Revolving Facility Affiliate or Swingline
Affiliate to (and, to the extent permitted by law, that Lender or Revolving
Facility Affiliate or Swingline Affiliate shall) transfer pursuant to Clause 23
(Changes to the Lenders) all (and, save as provided
for in this paragraph, not part only) of its rights and obligations under this
Agreement to a Lender or other bank selected by ABB which confirms its
willingness to assume and does assume all the obligations of the transferring
Lender in accordance with Clause 23 (Changes to
the Lenders) for a purchase price in cash payable at the time
of the transfer equal to the outstanding principal amount of such Lender’s or
Revolving Facility Affiliate’s or Swingline Affiliate’s participation in the
outstanding Advances and all accrued interest (to the extent that the Facility
Agent has not given a notification under Clause 23.9 (Pro
rata interest settlement)), Break Costs and other amounts payable in
relation thereto under the Finance Documents. Where a Lender to be replaced
pursuant to this paragraph is a Swingline Lender that is the Swingline
Affiliate of another Lender, the rights and obligations required to be
transferred pursuant to this

 

36

 

Clause by that other Lender in its capacity as the Revolving Facility
Affiliate of that Swingline Lender may, at the option of ABB, be limited to
those necessary for the Commitments of the replacement Lender (or its
Affiliate) to be at least equal to each of the Swingline Commitments to be
transferred to such replacement Lender pursuant to this Clause.

 

(e)                                  The replacement
of any Lender pursuant to paragraph (d) above shall be subject to the
following conditions:

 

(i)                                     ABB shall have
no right to replace an Agent;

 

(ii)                                  no Agent nor
any Lender shall have any obligation to find a replacement Lender; and

 

(iii)                               in no event
shall any Lender replaced under paragraph (d) above be required to pay or
surrender any of the fees received by such Lender pursuant to the Finance
Documents.

 

(f)

 

(i)                                     If any Lender
becomes a Defaulting Lender, ABB may, at any time whilst that Lender continues
to be a Defaulting Lender, give the Facility Agent 5 Business Days’ notice of
cancellation of the Available Commitment, Available Dollar Swingline
Commitment, Available Euro Swingline Commitment or Available SEK Swingline
Commitment of that Lender and/or its Revolving Facility Affiliate or Swingline
Affiliate.

 

(ii)                                  On the notice
referred to in paragraph (i) above becoming effective, the Available
Commitment, Available Dollar Swingline Commitment, Available Euro Swingline
Commitment or Available SEK Swingline Commitment (as applicable) of the
relevant Lender and/or its Revolving Facility Affiliate or Swingline Affiliate
shall immediately be reduced to zero.

 

(iii)                               The Facility
Agent shall as soon as practicable after receipt of a notice referred to in
paragraph (i) above, notify all the Lenders.

 

8.7                               Restrictions

 

(a)                                 Any notice of
cancellation or prepayment given by any Party under this Clause 8 shall be
irrevocable and, unless a contrary indication appears in this Agreement, shall
specify the date or dates upon which the relevant cancellation or prepayment is
to be made and the amount of that cancellation or prepayment.

 

(b)                                 Any prepayment
under this Agreement shall be made together with accrued interest on the amount
prepaid and, subject to any Break Costs, without premium or penalty.

 

(c)                                  Unless a
contrary indication appears in this Agreement, any part of the Facility which
is prepaid may be reborrowed in accordance with the terms of this Agreement.
Any part of the Facility that is repaid may be reborrowed.

 

37

 

(d)                                 No Borrower
shall repay or prepay all or any part of the Advances or cancel all or any part
of the Commitments or any Swingline Commitment except at the times and in the
manner expressly provided for in this Agreement.

 

(e)                                  Subject to
Clause 2.2 (Increase), no amount
of the Total Commitments or any Swingline Commitment cancelled under this
Agreement may be subsequently reinstated.

 

(f)                                   If the Facility
Agent receives a notice under this Clause 8 it shall promptly forward a copy of
that notice to ABB and the affected Borrower or the affected Lender, as
appropriate.

 

(g)                                  Any
cancellation of a Swingline Commitment of a Swingline Lender shall reduce the relevant
Swingline Commitment accordingly but shall not otherwise cancel or reduce the
Commitment of the relevant Lender in respect of the Facility (or of any
Revolving Facility Affiliate of the relevant Swingline Lender) unless and to
the extent otherwise provided for in this Agreement.

 

(h)                                 Any
cancellation of the Commitment of a Lender that is a Swingline Lender or a
Revolving Facility Affiliate of a Swingline Lender shall not cancel or reduce
any Swingline Commitment of that Lender or its Swingline Affiliate unless a
Swingline Commitment of that Lender or its Swingline Affiliate would exceed the
Commitment of that Lender immediately following such reduction, in which case
the relevant Swingline Commitment of that Lender or its Swingline Affiliate
shall be reduced by such amount as is necessary to ensure that, after the
relevant cancellation, each such Swingline Commitment does not exceed the
Commitment of that Lender.

 

38

 

SECTION 5

COSTS OF UTILISATION

 

9.                                      INTEREST

 

9.1                                Calculation of interest

 

(a)                                 The rate of interest on each Advance
(other than a Swingline Advance) for each Interest Period is the percentage
rate per annum which is the aggregate of the applicable:

 

(i)                                     Margin;

 

(ii)                                  IBOR; and

 

(iii)                               Mandatory Cost (if any).

 

(b)                                The rate of interest on each Swingline
Advance for each Interest Period shall accrue from day to day and is (in the
case of any Dollar Swingline Advance) the Dollar Swingline Rate or (in the case
of any Euro Swingline Advance) the Euro Swingline Rate or (in the case of any
SEK Swingline Advance) the SEK Swingline Rate.

 

9.2                                Payment of interest

 

Each Borrower
shall pay accrued interest on each Advance made to it on the last day of each
Interest Period (and, if the Interest Period is longer than six Months, on the
dates falling at six monthly intervals after the first day of the Interest
Period).

 

9.3                                Default interest

 

(a)                                 If an Obligor fails to pay any amount
payable by it under a Finance Document on its due date, interest shall accrue
on the overdue amount from the due date up to the date of actual payment (both
before and after judgment) at a rate 1.00 per cent higher than the rate which
would have been payable if the overdue amount had, during the period of
non-payment, constituted an Advance (not being a Swingline Advance) in the
currency of the overdue amount for successive Interest Periods, each of a
duration selected by the Facility Agent (acting reasonably). Any interest
accruing under this Clause 9.3 shall be immediately payable by the relevant
Obligor on demand by the Facility Agent.

 

(b)                                Default interest (if unpaid) arising on
an overdue amount will be compounded with the overdue amount at the end of each
Interest Period applicable to that overdue amount but will remain immediately
due and payable.

 

9.4                                Notification of rates of
interest

 

The applicable
Agent shall promptly notify the Lenders, ABB and the relevant Borrowers of the
determination of a rate of interest under this Agreement.

 

9.5                                Minimum Interest

 

When entering into
this Agreement, the Parties have assumed that the interest payable hereunder is
not and will not become subject to Swiss withholding tax. Therefore, if a Tax
Deduction is required by law to be made in one of the circumstances set out in

 

39

 

paragraph
(d) of Clause 13.2 (Tax gross-up)
and if paragraph (c) of Clause 13.2 (Tax
gross-up) should be unenforceable in respect of a Borrower
incorporated in Switzerland or, if different, resident in Switzerland for tax
purposes, each Borrower acknowledges and agrees that:

 

(a)                                 the interest rates set out in and which
are calculated in accordance with Clause 9.1 (Calculation
of interest) shall constitute minimum interest rates, which, if
Swiss withholding tax should apply, shall be adjusted to ensure that any
payment of interest due by a Borrower shall be increased to an amount which
(after making any deduction of Swiss withholding tax) results in a payment to
the Lender of an amount equal to the payment which would have been due had no
deduction of Swiss withholding tax been required. For this purpose, the Swiss withholding tax shall be calculated
on the full grossed-up interest amount; and

 

(b)                                to the extent that paragraph
(a) above applies, each Borrower shall provide to the Lenders the
documents required by law or each applicable double taxation treaty for the
Lenders to prepare claims for the refund of any Swiss withholding tax so
deducted.

 

10.                                INTEREST PERIODS

 

(a)                                 The relevant Borrower may select an
Interest Period for an Advance in the Utilisation Request on 3 Business Days’
written notice to the Facility Agent from the relevant Borrower.

 

(b)                                 Subject to this Clause 10, a Borrower may
select an Interest Period of:

 

(i)                                    in relation to any Advance (other than a
Swingline Advance), 1, 2, 3 or 6 Months or any other period of less than 1
Month to end on the Termination Date or any other period agreed between the
relevant Borrower (or ABB on its behalf) and the Facility Agent (acting on the
instructions of all the Lenders); or

 

(ii)                                 in relation to any Swingline Advance, a
period not exceeding 5 Business Days.

 

(c)                                  An Interest Period for an Advance shall
not extend beyond the Termination Date.

 

(d)                                 Each Advance has one Interest Period only.

 

11.                                CHANGES TO THE
CALCULATION OF INTEREST

 

11.1                          Absence of quotations

 

Subject to Clause
11.2 (Market disruption), if the
applicable IBOR or if applicable, the Euro Swingline Rate or the SEK Swingline
Rate is to be determined by reference to the Reference Banks but a Reference
Bank does not supply a quotation by the Specified Time on the Quotation Day,
the applicable IBOR or the Euro Swingline Rate or the SEK

 

40

 

Swingline Rate
shall be determined on the basis of the quotations of the remaining Reference
Banks.

 

11.2                          Market disruption

 

(a)                                 If a Market Disruption Event occurs in
relation to an Advance (other than a Dollar Swingline Advance) for any Interest
Period, then the rate of interest on each Lender’s share of that Advance for
the Interest Period shall be the percentage rate per annum which is the sum of:

 

(i)                                    the Margin;

 

(ii)                                 the rate notified to the Facility Agent,
ABB and the relevant Borrower by that Lender in a certificate (which sets out
the details of the computation of the relevant rate and shall be prima facie
non-binding evidence of the same) as soon as practicable and in any event
before interest is due to be paid in respect of that Interest Period, to be
that which expresses as a percentage rate per annum the cost to that Lender of
funding its participation in that Advance from whatever source it may
reasonably select; and

 

(iii)                              the Mandatory Cost, if any, applicable to that
Lender’s participation in the Advance.

 

(b)                                In this Agreement “Market Disruption Event” means:

 

(i)                                    in relation to an Advance (not being a
Swingline Advance):

 

(A)                             at or about noon on the Quotation Day for
the relevant Interest Period the Screen Rate is not available and none or only
one of the Reference Banks supplies a rate to the Facility Agent to determine
the applicable IBOR for the relevant currency and period; or

 

(B)                               before close of business in London on the
Quotation Day for the relevant Interest Period, the Facility Agent receives
notifications from a Lender or Lenders (whose participations in an Advance
exceed 50 per cent. of that Advance) that the cost to it or them of obtaining
matching deposits in the Relevant Interbank Market would be in excess of the
applicable IBOR; or

 

(ii)                                 in relation to a Euro Swingline Advance
or a SEK Swingline Advance, on the relevant Utilisation Date, none or only one
of the Reference Banks supplies a rate to the Facility Agent to determine the
Euro Swingline Rate or the SEK Swingline Rate, as the case may be.

 

11.3                          Alternative basis of
interest or funding

 

(a)                                 If a Market Disruption Event occurs and
the Facility Agent or ABB so requires, the Facility Agent and ABB shall enter
into negotiations (for a period of not more than thirty days) with a view to
agreeing a substitute basis for determining the rate of interest.

 

41

 

(b)                                Any alternative basis agreed pursuant to
paragraph (a) above shall, with the prior consent of the Majority Lenders
and ABB, be binding on all Parties.

 

11.4                          Break Costs

 

(a)                                 The relevant Borrower shall, within three
Business Days of demand by a Finance Party, pay to that Finance Party its Break
Costs attributable to all or any part of an Advance or Unpaid Sum being paid by
that Borrower on a day other than the last day of an Interest Period for that
Advance or Unpaid Sum.

 

(b)                                Each Lender shall, as soon as reasonably
practicable after a demand by the Facility Agent, provide to ABB and the
relevant Borrower a certificate (which shall constitute prima facie non-binding
evidence of the matters to which it refers) addressed to the Facility Agent,
ABB and the relevant Borrower confirming the amount of its Break Costs for any
Interest Period in which they accrue and setting out the manner of computing
such Break Costs.

 

12.                                FEES

 

12.1                          Commitment Fee

 

(a)                                 ABB shall pay to the Facility Agent (for
the account of each Lender) a commitment fee in the Base Currency computed at
40 per cent. of the applicable Margin from time to time on that Lender’s
Available Commitment.

 

(b)                                The accrued commitment fee is payable on
the last day of each successive period of three Months commencing from the date
of this Agreement and on the last day of the Availability Period and, if a
Lender’s Commitment is cancelled in full, on the date such cancellation becomes
effective in respect of the amount accrued in respect of that Lender’s
Available Commitment immediately before such cancellation.

 

(c)                                 No commitment fee is payable to the
Facility Agent (for the account of a Lender) on any Available Commitment of
that Lender for any day on which that Lender is a Defaulting Lender.

 

12.2                          Utilisation Fee

 

(a)                                 ABB shall pay to the Facility Agent (for
the account of the Lenders pro rata to their Commitments) a utilisation fee in
respect of the Total Outstandings computed at the rate of:

 

(i)                                    0.25 per cent. per annum for each day
that the amount of the Total Outstandings is greater than 33.33 per cent. of
the Total Commitments but less than or equal to 66.66 per cent. of the Total
Commitments as at the date hereof; and

 

(ii)                                 0.50 per cent. per annum for each day
that the amount of the Total Outstandings is greater than 66.66 per cent. of
the Total Commitments as at the date hereof.

 

42

 

For the avoidance
of doubt, no utilisation fee is payable while the amount of the Total
Outstandings is less than or equal to 33.33 per cent of the Total Commitments
as at the date hereof.

 

(b)                                The accrued utilisation fee is payable on
the last day of each successive period of three Months commencing from the date
of this Agreement and on the Termination Date.

 

12.3                          Participation Fee

 

ABB shall pay to
the Facility Agent (for the account of the Original Lenders) a participation
fee in the amount and at the time agreed in a Fee Letter.

 

12.4                          Arrangement Fee

 

ABB shall pay to
the Facility Agent (for the account of the Mandated Lead Arrangers) an
arrangement fee in the amount and at the time agreed in a Fee Letter.

 

12.5                          Agency Fee

 

ABB shall pay to
each Agent (for its own account) an agency fee in the amount and at the times
agreed in a Fee Letter.

 

43

 

SECTION 6

ADDITIONAL PAYMENT OBLIGATIONS

 

13.                                TAX GROSS UP AND
INDEMNITIES

 

13.1                          Definitions

 

(a)                                 In this Agreement:

 

“Initial Borrower Jurisdiction” means any of
The Netherlands, the United States of America, Sweden or Switzerland.

 

“Protected Party” means a Finance Party
which is or will be, for or on account of Tax, subject to any liability or
required to make any payment in relation to a sum received or receivable (or
any sum deemed for the purposes of Tax to be received or receivable) under a
Finance Document.

 

“Qualifying Lender” means:

 

(i)                                    in respect of a payment by a Borrower
incorporated in Switzerland, a Lender which is a bank;

 

(ii)                                 in respect of a payment by a Borrower
incorporated in the United States of America, a Lender which is:

 

(A)                              created or organised under the laws of
the United States of America or of any state (including the District of
Columbia) thereof; or

 

(B)                                resident in a jurisdiction having and
eligible for the benefit of a double taxation agreement with the United States
of America which makes provision for full exemption from tax imposed by the
United States of America on interest and which does not carry on a business in
the United States of America through a permanent establishment with which that
Lender’s participation in the Facility is effectively connected; or

 

(C)                                entitled to receive payments under the
Finance Documents without deduction or withholding of any United States federal
income taxes,

 

and which has
complied with any procedural requirements within its control necessary to
receive such payment without the imposition of United States withholding tax;
and

 

(iii)                              in respect of a payment by a Borrower incorporated in
any jurisdiction except the United States of America or Switzerland, any
Lender.

 

“Tax Credit” means a credit against, relief
or remission for, or repayment of any Tax.

 

“Tax Deduction” means a deduction or
withholding for or on account of Tax from a payment under a Finance Document.

 

44

 

“Tax Payment” means an increased payment
made by ABB or a Borrower to a Finance Party under Clause 9.5 (Minimum Interest), Clause 13.2 (Tax gross-up) or a payment made by ABB or
a Borrower under Clause 13.3 (Tax indemnity).

 

(b)                                In this Clause 13 a reference to “determines” or “determined” means, save where expressly stated to the
contrary, a determination made in the absolute discretion of the person making
the determination acting in good faith.

 

13.2                          Tax gross-up

 

(a)                                 ABB and each Borrower shall make all
payments to be made by it without any Tax Deduction, unless a Tax Deduction is
required by law.

 

(b)                                ABB, a Borrower or a Lender shall
promptly upon becoming aware that ABB or a Borrower (as the case may be) must
make a Tax Deduction (or that there is any change in the rate or the basis of a
Tax Deduction) notify the Facility Agent accordingly. If the Facility Agent
receives such notification from a Lender it shall notify ABB and the relevant
Borrower.

 

(c)                                 If a Tax Deduction is required by law to
be made by ABB or a Borrower in one of the circumstances set out in paragraph
(d) below, the amount of the payment due from ABB or that Borrower shall
be increased to an amount which (after making any Tax Deduction) leaves an
amount equal to the payment which would have been due if no Tax Deduction had
been required.

 

(d)                                The circumstances referred to in
paragraph (c) above are where a person entitled to the payment:

 

(i)                                    is the Agent;

 

(ii)                                 is a Qualifying Lender; or

 

(iii)                              was a Qualifying Lender at the time it became a Lender
but has ceased to be a Qualifying Lender to the extent that this altered status
results from any change after the date of this Agreement in (or in the interpretation,
administration, or application of) any law or double taxation agreement or any
published practice or published concession of any relevant taxing authority.

 

(e)                                 If ABB or a Borrower is required to make
a Tax Deduction, it shall make that Tax Deduction and any payment required in
connection with that Tax Deduction within the time allowed and in the minimum
amount required by law.

 

(f)                                   Within 30 days of making either a Tax
Deduction or any payment required in connection with that Tax Deduction, ABB or
the relevant Borrower (as the case may be) shall deliver to the Facility Agent
for the Finance Party entitled to the payment evidence reasonably satisfactory
to that Finance Party that the Tax Deduction has been made or (as applicable)
any appropriate payment paid to the relevant taxing authority.

 

45

 

(g)                                Each Finance Party, ABB and the Borrowers
shall co-operate in completing any procedural formalities necessary for ABB or
a Borrower to make a payment to which the Finance Party is entitled without a
Tax Deduction or with a reduced Tax Deduction. Each Finance Party shall on the
reasonable written request of ABB or a Borrower complete and deliver to ABB or
that Borrower all documentation reasonably required by ABB or that Borrower in
order to enable it to make such payments without a Tax Deduction or with a
reduced Tax Deduction (so long as the completion or delivery of such
documentation would not materially prejudice the legal or commercial position of
the relevant Finance Party).

 

13.3                          Tax indemnity

 

(a)                                 ABB shall (within three Business Days of
written demand by the Facility Agent) pay to a Protected Party an amount equal
to the loss, liability or cost which that Protected Party determines will be or
has been (directly or indirectly) suffered for or on account of Tax by that
Protected Party.

 

(b)                                Paragraph (a) above shall not apply
with respect to any Tax assessed on a Finance Party:

 

(i)                                    under the law of the jurisdiction in
which that Finance Party is incorporated or, if different, the jurisdiction (or
jurisdictions) in which that Finance Party is treated as resident for tax
purposes;

 

(ii)                                 under the law of the jurisdiction in
which that Finance Party’s Facility Office is located in respect of amounts received
or receivable in that jurisdiction;

 

(iii)                              arising by reason of the making of an Advance to a
Borrower in an Initial Borrower Jurisdiction under the law of such
jurisdiction, except to the extent arising by reason of a change in law or in
any regulation occurring after the date of this Agreement, provided that this paragraph
(b)(iii) shall not apply to any Tax assessed or imposed on an Agent;

 

(iv)                             if that Tax is imposed on or calculated
by reference to the net income received or receivable (including any sum deemed
to be received or receivable) by that Finance Party; or

 

(v)                                which is compensated for by Clause 9.5 (Minimum Interest) or Clause 13.2 (Tax gross up) (or would have been so
compensated but for an exception to those Clauses).

 

(c)                                 A Protected Party making, or intending to
make a claim pursuant to paragraph (a) above shall promptly notify the
Facility Agent of the event which will give, or has given, rise to the claim,
following which the Facility Agent shall notify ABB.

 

(d)                                A Protected Party shall, on receiving a
payment from ABB under this Clause 13.3, notify the Facility Agent.

 

46

 

13.4                          Tax Credit

 

If ABB or a
Borrower makes a Tax Payment and the relevant Finance Party determines that:

 

(a)                                 a Tax Credit is attributable to that Tax
Payment; and

 

(b)                                that Finance Party has obtained, utilised
and retained that Tax Credit,

 

the Finance Party
shall pay an amount to ABB (or as the case may be) that Borrower which that
Finance Party determines, acting in good faith, will leave that Finance Party
(after that payment) in the same after-Tax position as it would have been in
had the Tax Payment not been made by ABB or that Borrower (as the case may be).
The relevant Finance Party shall endeavour, acting in good faith, to obtain,
utilise and retain the Tax Credit save that it shall not be obliged to disclose
any information relating to its tax or other affairs or any computations in
respect thereof.

 

13.5                          Lender Status
Confirmation

 

(a)                                 Each New Lender that becomes a Lender
after the date of this Agreement shall indicate in the Transfer Certificate or
Increase Confirmation which it executes on becoming a Party, and for the
benefit of the Facility Agent and without liability to any Obligor, whether or
not it is a Qualifying Lender.

 

(b)                                If a New Lender fails to indicate its
status in accordance with this Clause 13.5 then such New Lender shall be
treated for the purposes of this Agreement (including by each Obligor) as if it
were not a Qualifying Lender until such time as it notifies the Facility Agent
to the contrary (and the Facility Agent, upon receipt of such notification,
shall inform ABB). For the avoidance of doubt a Transfer Certificate or
Increase Confirmation shall not be invalidated by any failure of a Lender to
comply with this Clause 13.5.

 

13.6                          Qualifying Lenders

 

Any Lender which
ceases, for any reason, to be a Qualifying Lender shall promptly notify ABB and
the relevant Borrower(s) of its change of status.

 

13.7                          Stamp taxes

 

ABB shall pay and,
within 3 Business Days of demand, indemnify each Finance Party against any
cost, loss or liability such Finance Party incurs in relation to all stamp
duty, registration and other similar Taxes payable in respect of any Finance
Document, but not in respect of any assignment or transfer pursuant to Clause
23 (Changes to the Lenders).

 

13.8                          Value added tax

 

(a)                                 All consideration payable under a Finance
Document by ABB or the Borrowers to a Finance Party shall be deemed to be
exclusive of any VAT. If VAT is chargeable on any supply made by any Finance
Party to any Party in connection with a Finance Document, that Party shall pay
to the Finance Party (in addition to and at the same time as paying the
consideration) an amount equal to the amount of the VAT.

 

(b)                                Where a Finance Document requires ABB or
the Borrowers to reimburse a Finance Party for any costs or expenses, ABB or
the Borrowers (as the case

 

47

 

may be) shall also
at the same time pay and indemnify that Finance Party against all VAT directly
incurred by that Finance Party in respect of the costs or expenses save to the
extent that that Finance Party is entitled to repayment or credit in respect of
the VAT.

 

14.                                INCREASED COSTS

 

14.1                          Increased costs

 

(a)                                 Subject to Clause 14.3 (Exceptions) ABB shall, within 3 Business
Days of a demand by the Facility Agent, pay for the account of a Finance Party
the amount of any Increased Costs incurred by that Finance Party or any of its
Affiliates as a result of (i) the introduction of or any change in (or in
the interpretation or application of) any law or regulation or
(ii) compliance with any law or regulation made after the date of this
Agreement.

 

(b)                                In this Agreement “Increased Costs” means:

 

(i)                                    a reduction in the rate of return from
the Facility or on a Finance Party’s (or its Affiliate’s) overall capital;

 

(ii)                                 an additional or increased cost; or

 

(iii)                              a reduction of any amount due and payable under any
Finance Document,

 

which is incurred
or suffered by a Finance Party or any of its Affiliates to the extent that it
is attributable to that Finance Party having entered into its Commitment or
funding or performing its obligations under any Finance Document.

 

14.2                          Increased cost claims

 

(a)                                 A Finance Party intending to make a claim
pursuant to Clause 14.1 (Increased costs)
shall promptly notify the Facility Agent of the event giving rise to the claim,
following which the Facility Agent shall promptly notify ABB.

 

(b)                                Each Finance Party shall, as soon as
practicable after a demand by the Facility Agent provide a certificate
confirming the amount of its Increased Costs with (subject to any rights or
duties of confidentiality the relevant Finance Party has in respect of such
information) full supporting details (which certificate shall constitute prima
facie non-binding evidence of the matters to which it relates).

 

14.3                          Exceptions

 

(a)                                 Clause 14.1 (Increased costs) does not apply to the extent any Increased
Cost is:

 

(i)                                    attributable to a Tax Deduction required
by law to be made by ABB or a Borrower;

 

(ii)                                 compensated for by Clause 13.3 (Tax indemnity) (or would have been
compensated for under Clause 13.3 (Tax
indemnity) but was not so compensated solely because one of the
exclusions in paragraph (b) of Clause 13.3 (Tax indemnity) applied);

 

48

 

(iii)                              not payable as provided in Clause 23.2 (Conditions of assignment or transfer);

 

(iv)                             compensated for by the payment of the
Mandatory Cost;

 

(v)                                 attributable to the breach by the
relevant Finance Party or its Affiliates of any law or regulation;

 

(vi)                             not notified to ABB within 3 months of
being incurred; or

 

(vii)                          attributable to the implementation or application of
or compliance with the “International Convergence of Capital Measurement and
Capital Standards, a Revised Framework” published by the Basel Committee on
Banking Supervision in June 2004 in the form existing on the date of this
Agreement (“Basel II”) or any
other law or regulation which implements Basel II (whether such implementation,
application or compliance is by a government, regulator, Finance Party or any
of its Affiliates).

 

(b)                                In this Clause 14.3, a reference to a “Tax Deduction” has the same meaning given
to the term in Clause 13.1 (Definitions).

 

15.                              OTHER INDEMNITIES

 

15.1                       Currency indemnity

 

(a)                                If any sum due from ABB or a Borrower
under the Finance Documents (a “Sum”),
or any order, judgment or award given or made in relation to a Sum, has to be
converted from the currency (the “First
Currency”) in which that Sum is payable into another currency (the “Second Currency”) for the purpose of:

 

(i)                                     making or filing a claim or proof against
ABB or any of the Borrowers;

 

(ii)                                  obtaining or enforcing an order, judgment
or award in relation to any litigation or arbitration proceedings,

 

ABB or that
Borrower (as the case may be) shall as an independent obligation, within 3
Business Days of demand, indemnify each Finance Party to whom that Sum is due
against any cost, loss or liability arising out of or as a result of the
conversion including any discrepancy between (A) the rate of exchange used
to convert that Sum from the First Currency into the Second Currency and
(B) the rate or rates of exchange available to that person at the time of
its receipt of that Sum.

 

(b)                                ABB and each Borrower waives any right it
may have in any jurisdiction to pay any amount under the Finance Documents in a
currency or currency unit other than that in which it is expressed to be
payable.

 

15.2                       Other indemnities

 

ABB shall
indemnify each Lender upon presentation of duly documented evidence thereof
against any cost, loss or liability directly incurred by that Lender as a
result of:

 

49

 

(a)                                the occurrence of any Event of Default
(but excluding any costs of enforcement save as provided in Clause 17.3 (Enforcement costs));

 

(b)                                a failure by ABB or a Borrower to pay any
amount due under a Finance Document on its due date, including without
limitation, any cost, loss or liability arising as a result of Clause 27 (Sharing among the Lenders);

 

(c)                                 funding, or making arrangements to fund,
its participation in an Advance requested by a Borrower in a Utilisation
Request but not made by reason of the operation of any one or more of the
provisions of this Agreement (other than by reason of default, negligence or
wilful misconduct by that Lender alone); or

 

(d)                                an Advance (or part of an Advance) not
being prepaid in accordance with a notice of prepayment given by a Borrower.

 

15.3                       Indemnity to the
Facility Agent

 

ABB shall promptly
indemnify the Facility Agent, upon presentation of duly documented evidence
thereof, against any reasonable cost, loss or liability properly and directly
incurred by the Facility Agent (acting reasonably) as a result of:

 

(a)                                investigating any event which it
reasonably believes is a Default; or

 

(b)                                entering into or performing any foreign
exchange contract for the purposes of Clause 6 (Optional Currencies); or

 

(c)                                 acting or relying on any notice, request
or instruction which it reasonably believes (after due enquiry) to be genuine,
correct and appropriately authorised.

 

16.                              MITIGATION BY THE
LENDERS

 

16.1                       Mitigation

 

(a)                                Each Finance Party shall, in consultation
with ABB, take all reasonable steps to mitigate any circumstances which arise
and which would result in any amount becoming payable under or pursuant to, or
cancelled pursuant to, any of Clause 8.1 (Lender
Illegality), Clause 13 (Tax gross
up and indemnities) or Clause 14 (Increased
costs) or which would result in any increased amount being payable
under this Agreement by reason of a change in the Mandatory Cost or a change in
the reserve requirements imposed by the European Central Bank after the date of
this Agreement including (but not limited to) transferring its rights and
obligations under the Finance Documents to another Affiliate or Facility Office
(in each case in accordance with the terms hereof) and, in such circumstances a
Lender will, at the request of ABB but subject to ABB indemnifying it for the
costs of so doing, transfer its rights and obligations under the Finance
Documents to another Lender.

 

(b)                                Paragraph (a) above does not in any
way limit the obligations of the Obligors under the Finance Documents.

 

50

 

16.2                       Limitation of liability

 

(a)                                ABB shall indemnify each Finance Party,
upon presentation of duly documented evidence thereof, for all costs and
expenses reasonably and directly incurred by that Finance Party as a result of
steps taken by it under Clause 16.1 (Mitigation).

 

(b)                                A Finance Party is not obliged to take
any steps under Clause 16.1 (Mitigation)
(other than a transfer of its rights and obligations to another Lender where
ABB indemnifies it for the cost of so doing) if, in the opinion of that Finance
Party (acting reasonably), to do so could reasonably be expected to be
prejudicial to it.

 

17.                              COSTS AND EXPENSES

 

17.1                       Transaction expenses

 

ABB shall promptly
on demand pay, upon presentation of duly documented evidence thereof, the
Agents and the Mandated Lead Arrangers the amount of all costs and expenses
(including legal fees) reasonably and directly incurred by any of them in
connection with the negotiation, preparation, printing, execution and
syndication of:

 

(a)                                this Agreement and any other documents
referred to in this Agreement; and

 

(b)                                any other Finance Documents executed
after the date of this Agreement.

 

17.2                       Amendment costs

 

If (a) ABB
requests an amendment, waiver or consent or (b) an amendment is required
pursuant to Clause 28.10 (Change of currency),
ABB shall, within 3 Business Days of demand, reimburse the Facility Agent, upon
presentation of duly documented evidence thereof, for the amount of all costs
and expenses (including legal fees) reasonably and directly incurred by the
Facility Agent and which have previously been agreed with ABB in responding to,
evaluating, negotiating or complying with that request or requirement.

 

17.3                       Enforcement costs

 

ABB shall, within
3 Business Days of demand, pay to each Finance Party the amount of all costs
and expenses (including legal fees) directly incurred by that Finance Party at
any time after the service of a notice by the Facility Agent under Clause 22.10
(Acceleration) in connection with
the enforcement of, or the preservation of any rights under, any Finance
Document.

 

18.                              GUARANTEE AND INDEMNITY

 

18.1                       Guarantee and indemnity

 

The Guarantor
irrevocably and unconditionally:

 

(a)                                guarantees to each Finance Party punctual
performance by each Borrower of all that Borrower’s obligations under the
Finance Documents;

 

(b)                                undertakes with each Finance Party that
whenever a Borrower does not pay any amount when due under or in connection
with any Finance Document, the

 

51

 

Guarantor shall
immediately on demand pay that amount as if it was the principal obligor; and

 

(c)                                 agrees with each Finance Party that if
any obligation guaranteed by it is or becomes unenforceable, invalid or
illegal, it will, as an independent and primary obligation, indemnify that
Finance Party immediately on demand against any cost, loss or liability it incurs
as a result of a Borrower not paying any amount which would, but for such
unenforceability, invalidity or illegality, have been payable by it under any
Finance Document on the date when it would have been due. The amount payable by
the Guarantor under this indemnity will not exceed the amount it would have had
to pay under this Clause 18 if the amount claimed had been recoverable on the
basis of a guarantee.

 

18.2                       Continuing guarantee

 

This guarantee is
a continuing guarantee and will extend to the ultimate balance of sums payable
by any Borrower under the Finance Documents, regardless of any intermediate
payment or discharge in whole or in part.

 

18.3                       Reinstatement

 

If any discharge,
release or arrangement (whether in respect of the obligations of any Borrower
or any security for those obligations or otherwise) is made by a Finance Party
in whole or in part on the basis of any payment, security or other disposition
which is avoided or must be restored in insolvency, liquidation, administration
or otherwise, without limitation, then the liability of the Guarantor under
this Clause 18 will continue or be reinstated as if the discharge, release or
arrangement had not occurred.

 

18.4                       Waiver of defences

 

The obligations of
the Guarantor under this Clause 18 will not be affected by any act, omission,
matter or thing which, but for this Clause, would reduce, release or prejudice
any of its obligations under this Clause 18 (without limitation and whether or
not known to it or any Finance Party) including:

 

(a)                                any time, waiver or consent granted to,
or composition with, any Borrower or other person;

 

(b)                                the release of any Borrower or any other
person under the terms of any composition or arrangement with any creditor of
any member of the Group;

 

(c)                                 the taking, variation, compromise,
exchange, renewal or release of, or refusal or neglect to perfect, take up or
enforce, any rights against, or security over assets of, any Borrower or other
person or any non-presentation or non-observance of any formality or other requirement
in respect of any instrument or any failure to realise the full value of any
security;

 

(d)                                any incapacity or lack of power,
authority or legal personality of or dissolution or change in the members or
status of a Borrower or any other person;

 

(e)                                 any amendment, novation, supplement,
extension, restatement (however fundamental and whether or not more onerous) or
replacement of any Finance Document or any other document or security including
without limitation any

 

52

 

change in the
purpose of, any extension of or any increase in any facility or the addition of
any new facility under any Finance Document or other document or security;

 

(f)                                  any unenforceability, illegality or
invalidity of any obligation of any person under any Finance Document or any
other document or security; or

 

(g)                                 any insolvency or similar proceedings.

 

18.5                       Immediate recourse

 

The Guarantor
waives any right it may have of first requiring any Finance Party (or any
trustee or agent on its behalf) to proceed against or enforce any other rights
or security or claim payment from any person before claiming from the Guarantor
under this Clause 18. This waiver applies irrespective of any law or any
provision of a Finance Document to the contrary.

 

18.6                       Appropriations

 

Until all amounts
which may be or become payable by the Borrowers under or in connection with the
Finance Documents have been irrevocably paid in full, each Finance Party (or
any trustee or agent on its behalf) may:

 

(a)                                refrain from applying or enforcing any
other moneys, security or rights held or received by that Finance Party (or any
trustee or agent on its behalf) in respect of those amounts, or apply and
enforce the same in such manner and order as it sees fit (whether against those
amounts or otherwise) and the Guarantor shall not be entitled to the benefit of
the same; and

 

(b)                                hold in an interest-bearing suspense
account any moneys received from the Guarantor or on account of the Guarantor’s
liability under this Clause.

 

18.7                       Deferral of Guarantor’s
rights

 

Until all amounts
which may be or become payable by the Borrowers under or in connection with the
Finance Documents have been irrevocably paid in full or the Facility Agent
otherwise directs, the Guarantor will not exercise any rights which it may have
by reason of performance by it of its obligations under the Finance Documents
or by reason of any amount being payable, or liability arising, under this
Clause 18:

 

(a)                                to be indemnified by a Borrower;

 

(b)                                to take the benefit (in whole or in part
and whether by way of subrogation or otherwise) of any rights of the Finance
Parties under the Finance Documents or of any other guarantee or security taken
pursuant to, or in connection with, the Finance Documents by any Finance Party;

 

(c)                                 to bring legal or other proceedings for
an order requiring any Borrower to make any payment, or perform any obligation,
in respect of which it has given a guarantee, undertaking or indemnity under
Clause 18.1 (Guarantee and indemnity);

 

(d)                                to exercise any right of set-off against
any Borrower; and/or

 

53

 

(e)                                 to claim or prove as a creditor of any
Borrower in competition with any Finance Party.

 

If the Guarantor
receives any benefit, payment or distribution in relation to such rights it
shall hold that benefit, payment or distribution to the extent necessary to
enable all amounts which may be or become payable to the Finance Parties by the
Borrowers under or in connection with the Finance Documents to be repaid in
full on trust for the Finance Parties and shall promptly pay or transfer the
same to the Facility Agent or as the Facility Agent may direct for application
in accordance with Clause 29 (Payment
mechanics).

 

18.8                       Additional security

 

This guarantee is
in addition to and is not in any way prejudiced by any other guarantee or
security now or subsequently held by any Finance Party.

 

54

 

SECTION 7

REPRESENTATIONS, UNDERTAKINGS AND EVENTS OF DEFAULT

 

19.                              REPRESENTATIONS

 

ABB (in respect of
itself and, where specified, each Group Company or each Material Subsidiary)
and each Borrower (in respect of itself) makes the representations and
warranties set out in this Clause 19 to each Finance Party on the date of this
Agreement.

 

19.1                       Status

 

(a)                                It is a corporation, duly incorporated
and validly existing under the law of its jurisdiction of incorporation.

 

(b)                                It and each Group Company has the power
to own its assets and carry on its business as it is being conducted.

 

19.2                       Binding obligations

 

The obligations
expressed to be assumed by it in each Finance Document are, subject to the
Reservations, legal, valid, binding and enforceable obligations.

 

19.3                       Non-conflict with other
obligations

 

The entry into and
performance by it of, and the transactions contemplated by, the Finance
Documents to which it is a party do not conflict with:

 

(a)                                any law or regulation applicable to it;

 

(b)                                its constitutional documents; or

 

(c)                                 any agreement or instrument binding upon
it or any Group Company or any of their assets,

 

and, in the case
of paragraph (c) on any repetition after the date of this Agreement, in a
manner that could reasonably be expected to have a Material Adverse Effect.

 

19.4                       Power and authority

 

It has the power
to enter into, perform and deliver, and has taken all necessary action to
authorise its entry into, performance and delivery of, the Finance Documents to
which it is a party and the transactions contemplated by those Finance
Documents.

 

19.5                       Validity and
admissibility in evidence

 

All Authorisations
required by ABB and each Borrower (including, in the case of any Dutch
Borrower, and if applicable, any works council advice):

 

(a)                                to enable it lawfully to enter into,
exercise its rights and comply with its obligations in the Finance Documents to
which it is a party; and

 

(b)                                to make the Finance Documents to which it
is a party admissible in evidence in its jurisdiction of incorporation,

 

have been obtained
or effected and are in full force and effect.

 

55

 

19.6                       Insolvency

 

Neither it nor any
Material Subsidiary (excluding to the extent relevant Combustion Engineering
Inc.) has taken any action nor (so far it is aware, having made all due
enquiry) have any steps been taken or legal proceedings been started against it
for winding-up, dissolution or re-organisation, the enforcement of any Security
over its assets or for the appointment of a receiver, administrative receiver,
or administrator, trustee or similar officer of it or any of its assets.

 

19.7                       No default

 

(a)                                No Default is continuing.

 

(b)                                No other event or circumstance is
outstanding which constitutes a default under any other agreement or instrument
which is binding on a Group Company or to which their assets are subject which
has had or could reasonably be expected to have a Material Adverse Effect.

 

19.8                       No misleading
information

 

(a)                                Any factual information contained in any
document forming part of the Information Package was true and accurate in all
material respects as at the date of the relevant document.

 

(b)                                Nothing has occurred or been omitted from
the Information Package and no information has been given or withheld that
results in the information contained in the Information Package being untrue or
misleading in any material respect as at the date of the relevant document.

 

19.9                       Financial statements

 

(a)                                The Original Financial Statements were
prepared in accordance with GAAP consistently applied.

 

(b)                                The Original Financial Statements fairly
present in all material respects the consolidated financial condition and
operations of the Group or the financial condition and operations of the
relevant Original Obligor in respect of the relevant financial year.

 

(c)                                  Each of the latest audited consolidated
financial statements required to be delivered under paragraph (b) of
Clause 20.1 (Financial statements)
fairly presents in all material respects the financial position of the Group as
at the date to which they were prepared and for the period then ended.

 

(d)                                Each of the latest set of unaudited
consolidated financial statements required to be delivered under paragraph
(c) of Clause 20.1 (Financial
statements) fairly presents in all material respects the financial
condition of the Group as at the date to which they were prepared and for the
period then ended.

 

19.10                No Material Adverse
Effect

 

Since the date of
the most recent annual audited accounts of the Group, no event or events have
occurred which have had a Material Adverse Effect.

 

56

 

19.11                Pari passu ranking

 

Its payment
obligations under the Finance Documents rank at least pari passu with the claims of all its
other unsecured and unsubordinated creditors, except for obligations
mandatorily preferred by law applying to companies generally.

 

19.12                No proceedings pending
or threatened

 

No litigation,
arbitration or administrative proceedings of or before any court, arbitral body
or agency which could reasonably be expected to have a Material Adverse Effect
have (to the best of its knowledge and belief) been started or threatened
against any Group Company save in relation to asbestos liabilities relating to
the business of Combustion Engineering Inc.

 

19.13                Environmental Compliance

 

Each  Group  Company  has  complied  in  all  respects  with  all  Environmental  Law  save  to  the  extent  that  non-compliance  could  not  reasonably  be  expected  to  have  a  Material  Adverse  Effect.

 

19.14                Repetition

 

(a)                                The representations and warranties in
Clause 19.1 (Status) to Clause 19.4
(Power and authority) are deemed
to be made by each Obligor by reference to the facts and circumstances then
existing on the date of each Utilisation Request and the first day of each
Interest Period.

 

(b)                                The representations and warranties in
paragraphs (c) and (d) of Clause 19.9 (Financial statements) are deemed to be made by each Obligor
in respect of any financial statements delivered by it on the date those
financial statements are approved as final by the management of the relevant
Obligor.

 

20.                              INFORMATION UNDERTAKINGS

 

The undertakings
in this Clause 20 remain in force from the date of this Agreement for so long
as any amount is outstanding under the Finance Documents or any Commitment is
in force.

 

20.1                       Financial statements

 

(a)                                ABB and each Borrower shall supply to the
Facility Agent in sufficient copies for all the Lenders, as soon as the same
become available, but in any event within 120 days after the end of each of its
financial years (in the case of ABB) and within 150 days (in the case of each
Borrower), its statutory audited unconsolidated annual financial statements for
that financial year (if prepared by such Borrower).

 

(b)                                ABB shall supply to the Facility Agent in
sufficient copies for all the Lenders, as soon as the same become available,
but in any event before the date falling 120 days after the end of each of its
financial years, its audited consolidated annual financial statements.

 

(c)                                 ABB shall supply to the Facility Agent in
sufficient copies for all the Lenders, as soon as the same become available,
but in any event within 45 days after the

 

57

 

end of each
quarter of each of its financial years (except the fourth quarter) its
unaudited consolidated financial statements for that quarter and the
year-to-date period then ended.

 

20.2                       Requirements as to
financial statements

 

Each Borrower
shall procure that each set of financial statements delivered by it pursuant to
Clause 20.1 (Financial statements)
is prepared using GAAP.

 

20.3                       Information:
miscellaneous

 

ABB shall supply
to the Facility Agent (in sufficient copies for all the Lenders, if the
Facility Agent so requests):

 

(a)                                all documents dispatched by it to its
shareholders (or any class of them) or its creditors generally at the same time
as they are dispatched;

 

(b)                                promptly upon becoming aware of them, the
details of any litigation, arbitration or administrative proceedings which are
commenced against one or more Group Companies and which could reasonably be
expected to have a Material Adverse Effect; and

 

(c)                                 promptly, such further information
regarding the financial condition, business and operations of any Obligor or
any other Material Subsidiary as any Finance Party (acting through the Facility
Agent) may reasonably request.

 

20.4                       Notification of default

 

ABB and each
Borrower shall notify the Facility Agent of any Default (and the steps, if any,
being taken to remedy it) promptly upon becoming aware of its occurrence.

 

20.5                       Material Subsidiaries

 

ABB shall supply
to the Facility Agent, with each set of financial statements delivered by it
pursuant to paragraph (b) of Clause 20.1 (Financial
statements), either:

 

(a)                                a complete and up to date list of
Material Subsidiaries at that time; or

 

(b)                                written confirmation that the list of
Material Subsidiaries contained in Schedule 9 (Material
Subsidiaries) is complete and up to date at that time.

 

20.6                       Use of Websites

 

(a)                                Any Obligor may satisfy its obligation
under this Agreement to deliver any information in relation to those Lenders (the
“Website Lenders”) who accept this
method of communication by posting this information onto an electronic website
designated by ABB and the Facility Agent (the “Designated Website”) if:

 

(i)                                    the Facility Agent expressly agrees
(after consultation with each of the Lenders) that it will accept communication
of the information by this method;

 

(ii)                                 both ABB and the Facility Agent are aware
of the address of and any relevant password specifications for the Designated
Website; and

 

58

 

(iii)                               the information is in a format previously
agreed between ABB and the Facility Agent.

 

If any Lender (a “Paper Form Lender”) does not agree to
the delivery of information electronically then the Facility Agent shall notify
ABB accordingly and ABB shall supply the information to the Facility Agent (in
sufficient copies for each Paper Form Lender) in paper form. In any event
ABB shall supply the Facility Agent with at least one copy in paper form of any
information required to be provided by it.

 

(b)                                 The Facility Agent shall supply each Website
Lender with the address of and any relevant password specifications for the
Designated Website following designation of that website by ABB and the
Facility Agent. The Facility Agent shall notify each Website Lender when any
document is posted to the Designated Website.

 

(c)                                  ABB shall promptly upon becoming aware of
its occurrence notify the Facility Agent if:

 

(i)                                     the Designated Website cannot be accessed
due to technical failure;

 

(ii)                                  the password specifications for the
Designated Website change;

 

(iii)                               any new information which is required to
be provided under this Agreement is posted onto the Designated Website;

 

(iv)                              any existing information which has been
provided under this Agreement and posted onto the Designated Website is
amended; or

 

(v)                                 ABB becomes aware that the Designated
Website or any information posted onto the Designated Website is or has been
infected by any electronic virus or similar software.

 

If ABB notifies
the Facility Agent under paragraph (c)(i) or paragraph (c)(v) above,
all information to be provided by ABB under this Agreement after the date of
that notice shall be supplied in paper form unless and until the Facility Agent
and each Website Lender is satisfied that the circumstances giving rise to the
notification are no longer continuing.

 

(d)                                 Any Website Lender may request, through
the Facility Agent, one paper copy of any information required to be provided
under this Agreement which is posted onto the Designated Website. ABB shall
comply with any such request within ten Business Days.

 

20.7                        “Know your customer”
checks

 

(a)                                 If:

 

(i)                                     the
introduction of or any change in (or in the interpretation, administration or
application of) any law or regulation made after the date of this Agreement;

 

59

 

(ii)                                  any change in the status of an Obligor or
the composition of the shareholders of an Obligor after the date of this
Agreement; or

 

(iii)                               a proposed assignment or transfer by a
Lender of any of its rights and/or obligations under this Agreement to a party
that is not a Lender prior to such assignment or transfer,

 

obliges any Agent
or any Lender (or, in the case of paragraph (iii) above, any prospective
new Lender) to comply with “know your customer” or similar identification
procedures in circumstances where the necessary information is not already
available to it, each Obligor shall promptly upon the request of that Agent or
any Lender supply, or procure the supply of (to the extent that the relevant
information is not already available to the applicable Agent or Lender), such
documentation and other evidence as is reasonably requested by that Agent (for
itself or on behalf of any Lender) or any Lender (for itself or, in the case of
the event described in paragraph (iii) above, on behalf of any prospective
new Lender) in order for the applicable Agent, such Lender or, in the case of
the event described in paragraph (iii) above, any prospective new Lender
to carry out and be satisfied with the results of all necessary “know your
customer” or other checks in relation to any relevant person pursuant to the
transactions contemplated in the Finance Documents.

 

(b)                                 Each Lender
shall promptly upon the request of any Agent supply, or procure the supply of,
such documentation and other evidence as is reasonably requested by that Agent
(for itself) in order for that Agent to carry out and be satisfied with the
results of all necessary “know your customer” or other checks on Lenders or
prospective new Lenders pursuant to the transactions contemplated in the
Finance Documents.

 

(c)                                  ABB shall, by
not less than 10 Business Days’ prior written notice to the Facility Agent,
notify the Facility Agent (which shall promptly notify the Lenders) of its
intention to request that one of its Subsidiaries becomes an Additional
Borrower pursuant to Clause 24 (Changes to
the Obligors).

 

(d)                                 Following the
giving of any notice pursuant to paragraph (c) above, if the accession of
such Additional Borrower obliges any Agent or any Lender to comply with “know
your customer” or similar identification procedures in circumstances where the
necessary information is not already available to it, ABB shall promptly upon
the request of that Agent or any Lender supply, or procure the supply of, such
documentation and other evidence as is reasonably requested by that Agent (for
itself or on behalf of any Lender) or any Lender (for itself or on behalf of
any prospective new Lender) in order for that Agent or such Lender or any
prospective new Lender to carry out and be satisfied with the results of all
necessary “know your customer” or other checks in relation to any relevant
person pursuant to the accession of such Subsidiary to this Agreement as an
Additional Borrower

 

60

 

21.                               GENERAL UNDERTAKINGS

 

The undertakings
in this Clause 21 remain in force from the date of this Agreement for so long
as any amount is outstanding under the Finance Documents or any Commitment is
in force.

 

21.1                        Authorisations

 

Each Obligor shall
promptly:

 

(a)                                 obtain, comply with and do all that is
necessary to maintain in full force and effect; and

 

(b)                                 supply certified copies to the Facility
Agent of,

 

any Authorisation
(including, in the case of any Dutch Borrower, any applicable works council
advice) required under any law or regulation of its jurisdiction of
incorporation to enable it to perform its obligations under the Finance
Documents and to ensure the legality, validity and subject to the Reservations
enforceability or admissibility in evidence in its jurisdiction of
incorporation of any Finance Document.

 

21.2                        Compliance with laws

 

Each Obligor shall
comply in all respects with all laws (including, without limitation,
Environmental Law, ERISA and the Dutch Financial Supervision Act (Wet op het financieel toezicht)) to which
it may be subject, if failure so to comply would have a Material Adverse
Effect.

 

21.3                        Negative pledge

 

(a)                                 Neither ABB nor any Borrower shall (and
ABB shall procure that no other Group Company will) create or permit to subsist
any Security over any of its assets.

 

(b)                                 Paragraph (a) above does not apply
to:

 

(i)                                     any Security over any bank account in
favour of the bank with which such account is held, in each case granted by any
Group Company in the ordinary course of its banking arrangements for the
purpose of netting debit and credit balances;

 

(ii)                                  any Security arising by operation of law;

 

(iii)                               any Security contained in a contract for
sale or supply entered into in the ordinary course of trading, where such
Security is granted to such seller or, as the case may be, supplier and is
limited in recourse to the asset sold or, as the case may be, supplied;

 

(iv)                              any Security over or affecting any asset
acquired by a Group Company after the date of this Agreement if:

 

(A)                               the Security was not created in
contemplation of the acquisition of that asset by a Group Company; and

 

61

 

(B)                               the principal amount secured has not been
increased in contemplation of, or since the acquisition of that asset by a
Group Company;

 

(v)                                 any Security over or affecting any asset
of a Group Company after the date of this Agreement, where the Security is
created prior to the date on which that Company becomes a Group Company, if:

 

(A)                               the Security was not created in
contemplation of the acquisition of that company; and

 

 

(B)                               the principal amount secured has not
increased in contemplation of or since the acquisition of that company;

 

(vi)                              any Security provided by one Group
Company (not being ABB) to another Group Company;

 

(vii)                           any Security created in respect of the
Securitisations provided that the
amounts so secured do not at any time exceed USD 1,500,000,000 (or its
equivalent in another currency or currencies);

 

(viii)                        any Security over the assets of a Project
Company, any shareholder loan made to a Project Company or the shares in a
Project Company where such Security was created for the purpose of securing
Indebtedness incurred to acquire and/or develop the assets of such Project Company
and where such Indebtedness constitutes Project Finance Indebtedness of such
Project Company;

 

(ix)                              any Security securing Indebtedness
incurred by a Group Company to refinance Indebtedness secured by Security of
the type referred to in paragraphs (iv) or (v) above where such
first-mentioned Security is over the same asset and is of the same type as such
second-mentioned Security and the conditions referred to in paragraph
(iv) or, as the case may be, (v) above continue to be satisfied, mutatis mutandis; and

 

(x)                                 any Security not falling within any of
paragraphs (i) to (ix) above inclusive in respect of assets having an
aggregate value not exceeding 10% of the aggregate value of the gross assets of
the Group (as set out in ABB’s most recently published annual audited
consolidated financial statements).

 

21.4                        Claims Pari Passu

 

ABB shall ensure
that at all times the claims of the Finance Parties against each Obligor under
the Finance Documents rank at least pari
passu with the claims of all its other unsecured and unsubordinated
creditors except for obligations mandatorily preferred by law applying to
companies generally.

 

21.5                        Merger

 

No Obligor shall
enter into any amalgamation, demerger, merger or corporate reconstruction save
where the Facility Agent is satisfied, acting reasonably, that the

 

62

 

relevant Obligor’s
obligations under the Finance Documents will continue to be the legal, valid,
binding and (subject to the Reservations) enforceable obligations of the
surviving entity.

 

21.6                        Insurance

 

Each Obligor shall
(and ABB shall ensure that each Group Company will) maintain insurances on and
in relation to its business and assets with reputable underwriters or insurance
companies against those risks and to the extent as is usual for companies
carrying on the same or substantially similar business in the relevant
jurisdiction and taking into account the availability of insurance generally.

 

21.7                        Restriction on
Subsidiary Debt

 

ABB shall ensure
that the aggregate amount of Total Gross Debt other than:

 

(a)                                 Project Finance Indebtedness;

 

(b)                                 Indebtedness owed by one Group Company to
another Group Company;

 

(c)                                  amounts borrowed by a finance company
which is a Group Company and which are on-lent, and remain on-lent, to an
Obligor;

 

(d)                                 amounts borrowed by a Group Company from
a bank to which cash-collateral (in a substantially equivalent amount) has been
granted by a Group Company in respect of the relevant Group Company’s
obligation to repay such amounts;

 

(e)                                  Indebtedness relating to any leases that
are not required to be treated as finance leases under US GAAP as at the date
hereof;

 

(f)                                   any amounts borrowed by a Group Company
which constitute Total Gross Debt to the extent such amounts are borrowed for
the purposes of refinancing other borrowings constituting Total Gross Debt so
long as amounts so borrowed are promptly applied in such manner;

 

(g)                                  Indebtedness in respect of bonds and
commercial paper issued by members of the Group that are capital markets issuers;
and

 

(h)                                 amounts owed to Combustion Engineering
Inc., or any trust established in connection with its Chapter 11 filing or any
other Chapter 11 filing or proceedings relating thereto,

 

of Group Companies
which are not Obligors shall not exceed $1,000,000,000 as at the last date of
each quarter of each of its financial years.

 

In this Clause
21.7 “Total Gross Debt” means the
aggregate of short-term debt (including current maturities of long-term debt)
and long-term debt as reflected in ABB’s latest consolidated balance sheet.

 

21.8                        Change of business

 

ABB shall procure
that no change is made to the businesses of the Group which would result in the
core businesses of the Group, taken as a whole, being other than the businesses
of power and automation technology.

 

63

 

22.                               EVENTS OF DEFAULT

 

Each of the events
or circumstances set out in Clauses 22.1 (Non-payment)
to 22.9 (Cessation of business)
inclusive is an Event of Default.

 

22.1                        Non-payment

 

Any sum due from
an Obligor or the Obligors under this Agreement is not paid at the time, at the
place at, and in the currency in which, it is expressed to be payable unless
payment is made within 3 Business Days of its due date and the failure to pay
is due solely to administrative error or technical delays in the transmission
of funds.

 

22.2                        Other obligations

 

An Obligor does
not comply with any provision of the Finance Documents (other than those
referred to in Clause 22.1 (Non-payment))
and, if the failure to comply is capable of remedy, it is not remedied within
30 days of the Facility Agent giving notice to ABB of the failure to comply.

 

22.3                        Misrepresentation

 

Any representation
or statement made or deemed (by virtue of Clause 19.14 (Repetition)) to be made by ABB or any
Borrower in this Agreement is or proves to have been incorrect or misleading in
any respect when made or deemed to be made and, where the circumstances making
such representation or statement incorrect or misleading are capable of being
altered so that such representation or statement is correct, such circumstances
are not so altered within 30 days of the Facility Agent giving notice to ABB of
such representation or statement being incorrect.

 

22.4                        Cross default

 

(a)                                 Any Indebtedness of all or any of the
Group Companies is not paid when due nor within any originally applicable grace
period.

 

(b)                                 Any Indebtedness of all or any of the
Group Companies has (i) become capable of being declared and is declared
to be or (ii) otherwise becomes due and payable, in any case, prior to its
specified maturity as a result of a default or an event of default (however
described).

 

(c)                                  Any commitment for any Indebtedness of
all or any of the Group Companies is cancelled or suspended by a creditor of
all or any of the Group Companies as a result of a default or an event of
default (however described).

 

(d)                                 Any creditor of all or any of the Group
Companies becomes entitled to declare any Indebtedness of all or any of the
Group Companies due and payable prior to its specified maturity as a result of
a default or an event of default (however described).

 

(e)                                  No Event of Default will occur under this
Clause 22.4 if (1) the Indebtedness falling within paragraphs (a) to
(d) is Project Finance Indebtedness, intra-Group Indebtedness or
Indebtedness under a Finance Document or (2) the aggregate amount of
Indebtedness or commitment for Indebtedness falling within paragraphs
(a) to (d) (excluding any described in (1) above) above is less
than $50,000,000.

 

64

 

(f)                                   No Event of Default will occur under this
Clause 22.4 where the applicable default or relevant circumstances described in
paragraphs (a) to (d) above arise as a result of or in connection
with any bankruptcy filing under Chapter 11 of the US Bankruptcy Code in
respect of Combustion Engineering Inc. or any other related bankruptcy filing
under Chapter 11 of the US Bankruptcy Code, or any proceedings relating to any
such filing.

 

22.5                        Insolvency

 

(a)                                 Any Obligor or any Material Subsidiary is
unable or admits in writing an inability to pay its debts as they fall due,
suspends making payments on any of its debts or, by reason of actual or
anticipated financial difficulties, commences negotiations with one or more of
its creditors with a view to rescheduling any of its indebtedness.

 

(b)                                 A moratorium is declared in respect of
any indebtedness of any Obligor or any Material Subsidiary.

 

(c)                                  This Clause 22.5 shall not apply to
Combustion Engineering Inc.

 

22.6                        Insolvency proceedings

 

Any corporate
action, legal proceedings or other procedure or step is taken in relation to:

 

(a)                                 the suspension of payments, a moratorium
of any indebtedness, dissolution or reorganisation (by way of voluntary
arrangement, scheme of arrangement or otherwise) of any Obligor or any Material
Subsidiary other than a solvent liquidation or reorganisation of any Material
Subsidiary (other than a Borrower) or to the extent permitted by Clause 21.5 (Merger);

 

(b)                                 a composition, assignment or arrangement
with any creditor of any Obligor or any Material Subsidiary (other than on a
solvent basis to the extent permitted by Clause 21.5 (Merger));

 

(c)                                  the appointment of a liquidator (other
than (i) a winding up petition which is frivolous or vexatious and which
is, in any event, discharged within 30 days of its presentation or (ii) in
respect of a solvent liquidation of any Material Subsidiary (other than a
Borrower) or to the extent permitted by Clause 21.5 (Merger)), receiver, administrator, administrative receiver,
compulsory manager or other similar officer in respect of any Obligor or any
Material Subsidiary or any of its assets (having an aggregate value of at least
$50,000,000); or

 

(d)                                 enforcement of any Security over any
assets (having an aggregate value of at least $50,000,000) of any Material
Subsidiary or Obligor by reason of a default or event of default (howsoever
described) occurring under the relevant agreement relating to the Indebtedness
secured by such Security,

 

or any analogous
procedure or step is taken in any jurisdiction provided that this Clause 22.6 shall not apply to Combustion
Engineering Inc.

 

65

 

22.7                        Repudiation

 

An Obligor
repudiates a Finance Document or evidences in writing an intention to repudiate
a Finance Document.

 

22.8                        Unlawfulness

 

Subject to Clause
8.2 (Borrower Illegality), it is
or becomes unlawful for an Obligor to perform any of its material obligations
under the Finance Documents.

 

22.9                        Cessation of business

 

The Group, taken
as a whole, ceases or threatens to cease to do business.

 

22.10                 Acceleration

 

On and at any time
after the occurrence of an Event of Default which is continuing the Facility
Agent may, and shall if so directed by the Majority Lenders, by notice to ABB:

 

(a)                                 cancel the Total Commitments whereupon
they shall immediately be cancelled;

 

(b)                                 declare that all or part of the Advances,
together with accrued interest, and all other amounts accrued under the Finance
Documents be immediately due and payable, whereupon they shall become
immediately due and payable; and/or

 

(c)                                  declare that all or part of the Advances
be payable on demand, whereupon they shall immediately become payable on demand
by the Facility Agent on the instructions of the Majority Lenders.

 

66

 

SECTION 8

CHANGES TO PARTIES

 

23.           CHANGES TO THE LENDERS

 

23.1         Assignments and
transfers by the Lenders

 

Subject to this
Clause 23, a Lender (the “Existing Lender”)
may:

 

(a)           assign any of its rights; or

 

(b)           transfer by novation any of its rights and obligations,

 

to another bank
(the “New Lender”).

 

23.2         Conditions of assignment
or transfer

 

(a)           The consent of ABB is required for an
assignment or transfer by a Lender, unless the assignment or transfer is to
another Lender or an Affiliate of a Lender that is a bank or unless an Event of
Default has occurred and is continuing.

 

(b)           The consent of ABB to an assignment or
transfer must not be unreasonably withheld or delayed. ABB will be deemed to
have given its consent 10 Business Days after the Lender has requested it
unless consent is expressly refused by ABB within that time.

 

(c)           The consent of ABB to an assignment or
transfer must not be withheld solely because the assignment or transfer may
result in an increase to the Mandatory Cost.

 

(d)           An assignment or transfer shall be in
respect of a Commitment or a Swingline Commitment of at least $10,000,000 or,
if less, the whole of the Commitment or Swingline Commitment of the relevant
assignor or transferor (provided that any such assignment or transfer shall be
in respect of a Commitment or Swingline Commitment at least equal to €50,000
(calculated at the then prevailing exchange rate)).

 

(e)           An assignment or transfer by a Swingline
Lender of any of its Swingline Commitments shall only be made if there is a
simultaneous assignment or transfer of an equal amount of its Commitment (or
the Commitment of its Revolving Facility Affiliate). This paragraph shall not
apply to a transfer of any Swingline Commitment to a Lender or an Affiliate of
a Lender provided that no Swingline Commitment of a Lender may exceed the
Commitment of that Lender or its Revolving Facility Affiliate.

 

(f)            An assignment or transfer by a Lender
which is a Swingline Lender or the Revolving Facility Affiliate of a Swingline
Lender of any of its Commitment shall only be effective if after such
assignment or transfer, the Commitment of that Lender is at least equal to each
of the Swingline Commitments of that Lender or its Swingline Affiliate.

 

67

 

(g)           An assignment will only be effective on:
(i) receipt by the Facility Agent of written confirmation from the New
Lender (in form and substance satisfactory to the Facility Agent) that the New
Lender will assume the same obligations to the other Finance Parties and the
Obligors as it would have been under if it was an Original Lender; and
(ii) performance by the Facility Agent of all necessary “know your
customer” or other similar checks under all applicable laws and regulations in
relation to such assignment to a New Lender, the completion of which the
Facility Agent shall promptly notify to the Existing Lender and the New Lender.

 

(h)           A transfer will only be effective if the
procedure set out in Clause 23.5 (Procedure
for transfer) is complied with.

 

(i)            If:

 

(i)            a Lender assigns or transfers any of its
rights or obligations under the Finance Documents or changes its Facility
Office; and

 

(ii)           as a result of circumstances existing at
the date the assignment, transfer or change occurs, an Obligor would be
obliged, or at such date it is reasonably foreseeable that an Obligor would be
obliged, to make a payment to the New Lender or Lender acting through its new
Facility Office under Clause 9.5 (Minimum
Interest), Clause 13 (Tax gross
up and indemnities) or Clause 14 (Increased
Costs),

 

then the New
Lender or Lender acting through its new Facility Office is only entitled to
receive payment under those Clauses to the same extent as the Existing Lender
or Lender acting through its previous Facility Office would have been if the
assignment, transfer or change had not occurred.

 

(j)            Each New Lender, by executing the
relevant Transfer Certificate, confirms, for the avoidance of doubt, that the
Facility Agent has authority to execute on its behalf any amendment or waiver
that has been approved by or on behalf of the requisite Lender or Lenders in
accordance with this Agreement on or prior to the date on which the transfer or
assignment becomes effective in accordance with this Agreement and that it is
bound by that decision to the same extent as the Existing Lender would have
been had it remained a Lender.

 

23.3         Assignment or transfer fee

 

The New Lender
shall, on the date upon which an assignment or transfer takes effect, pay to
the Facility Agent (for its own account) a fee of $1,500.

 

23.4         Limitation of responsibility of
Existing Lenders

 

(a)           Unless expressly agreed to the contrary,
an Existing Lender makes no representation or warranty and assumes no
responsibility to a New Lender for:

 

(i)            the legality, validity, effectiveness,
adequacy or enforceability of the Finance Documents or any other documents;

 

(ii)           the financial condition of ABB or any
Borrower;

 

68

 

(iii)          the
performance and observance by ABB or any Borrower of its obligations under the
Finance Documents or any other documents; or

 

(iv)          the accuracy of any statements (whether
written or oral) made in or in connection with any Finance Document or any
other document,

 

and any
representations or warranties implied by law are excluded.

 

(b)           Each New Lender confirms to the Existing Lender and
the other Finance Parties that it:

 

(i)            has made (and shall continue to make) its
own independent investigation and assessment of the financial condition and
affairs of ABB and each Borrower and its related entities in connection with
its participation in this Agreement and has not relied exclusively on any
information provided to it by the Existing Lender in connection with any
Finance Document; and

 

(ii)           will continue to make its own independent
appraisal of the creditworthiness of ABB and each Borrower and its related
entities whilst any amount is or may be outstanding under the Finance Documents
or any Commitment is in force.

 

(c)           Nothing in any Finance Document obliges an Existing
Lender to:

 

(i)            accept a re-transfer or re-assignment
from a New Lender of any of the rights and obligations assigned or transferred
under this Clause 23; or

 

(ii)           support any losses directly or indirectly
incurred by the New Lender by reason of the non-performance by ABB or any Borrower
of its obligations under the Finance Documents or otherwise.

 

23.5         Procedure for transfer

 

(a)           Subject to the conditions set out in
Clause 23.2 (Conditions of assignment or
transfer) a transfer is effected in accordance with paragraph
(b) below when the Facility Agent executes an otherwise duly completed
Transfer Certificate delivered to it by the Existing Lender and the New Lender.
The Facility Agent shall, as soon as reasonably practicable after receipt by it
of a duly completed Transfer Certificate appearing on its face to comply with
the terms of this Agreement and delivered in accordance with the terms of this
Agreement, execute that Transfer Certificate.

 

(b)           The Facility Agent shall only be obliged
to execute a Transfer Certificate delivered to it by the Existing Lender and
the New Lender upon its completion of all “know your customer” or other checks
relating to any person that it is required to carry out in relation to the
transfer to such New Lender.

 

(c)           Subject to Clause 23.9 (Pro rata interest settlement), on the
Transfer Date:

 

(i)            to the extent that in the Transfer
Certificate the Existing Lender seeks to transfer by novation its rights and
obligations under the Finance Documents each of ABB, the Borrowers and the
Existing Lender shall be

 

69

 

released from
further obligations towards one another under the Finance Documents and their
respective rights against one another shall be cancelled (being the “Discharged Rights and Obligations”);

 

(ii)           each of ABB, the Borrowers and the New
Lender shall assume obligations towards one another and/or acquire rights
against one another which differ from the Discharged Rights and Obligations
only insofar as ABB, that Borrower and the New Lender have assumed and/or
acquired the same in place of ABB, that Borrower and the Existing Lender;

 

(iii)          the
Agents, the Mandated Lead Arrangers, the New Lender and other Lenders shall
acquire the same rights and assume the same obligations between themselves as
they would have acquired and assumed had the New Lender been an Original Lender
with the rights and/or obligations acquired or assumed by it as a result of the
transfer and to that extent the Agents, the Mandated Lead Arrangers and the
Existing Lender shall each be released from further obligations to each other
under this Agreement; and

 

(iv)          the New Lender shall become a Party as a
“Lender”.

 

23.6         Disclosure of
information

 

Any Lender may
disclose to:

 

(a)           any of its Affiliates (provided they are
made aware of the confidential nature of the relevant information and that it
may be price-sensitive); and

 

(b)           any other person:

 

(i)            to (or through) whom that Lender assigns
or transfers (or may potentially assign or transfer) all or any of its rights
and obligations under this Agreement;

 

(ii)           with (or through) whom that Lender enters
into (or may potentially enter into) any sub-participation in relation to, or
any other transaction under which payments are to be made by reference to, this
Agreement or any Obligor; or

 

(iii)          to
whom, and to the extent that, information is required to be disclosed by any
applicable law or regulation,

 

any information
about ABB, any Borrower, the Group and the Finance Documents as that Lender
shall consider appropriate, provided that in relation to paragraphs
(b)(i) and (b)(ii) above only, the person to whom the information is
to be given has entered into a confidentiality undertaking unless such person
is any central bank or supranational bank in which case no confidentiality undertaking
will be required.

 

Notwithstanding
any of the provisions of the Finance Documents, the Obligors and the Finance
Parties hereby agree that each Party and each employee, representative or other
agent of each Party may disclose to any and all persons, without limitation of
any kind,

 

70

 

the “tax structure” and “tax treatment” (in each case within the
meaning of the U.S. Treasury Regulation Section 1.6011-4) of the Facility
and any materials of any kind (including opinions or other tax analyses) that
are provided to any of the foregoing relating to such tax structure and tax
treatment.

 

23.7         Copy of Transfer Certificate and
Increase Confirmation to ABB

 

The Facility Agent
shall, as soon as reasonably practicable after it has executed a Transfer
Certificate or an Increase Confirmation, send to ABB a copy of that Transfer
Certificate or Increase Confirmation.

 

23.8         Security over Lenders’ rights

 

In addition to the
other rights provided to Lenders under this Clause 23, each Lender may without
consulting with or obtaining consent from any Obligor, at any time charge,
assign or otherwise create Security in or over (whether by way of collateral or
otherwise) all or any of its rights under any Finance Document to secure obligations
of that Lender to a federal reserve or central bank except that no such charge,
assignment or Security shall:

 

(a)           release a Lender from any of its
obligations under the Finance Documents or substitute the beneficiary of the
relevant charge, assignment or other Security for the Lender as a party to any
of the Finance Documents; or

 

(b)           require any payments to be made by an
Obligor other than or in excess of, or grant to any person any more extensive
rights than, those required to be made or granted to the relevant Lender under
the Finance Documents.

 

23.9         Pro rata interest settlement

 

If the Facility
Agent has notified the Lenders that it is able to distribute interest payments
on a “pro rata basis” to Existing Lenders and New Lenders then (in respect of
any transfer pursuant to Clause 23.5 (Procedure
for transfer) the Transfer Date of which, in each case, is after the
date of such notification and is not on the last day of an Interest Period):

 

(a)           any interest or fees in respect of the
relevant participation which are expressed to accrue by reference to the lapse
of time shall continue to accrue in favour of the Existing Lender up to but
excluding the Transfer Date (“Accrued Amounts”)
and shall become due and payable to the Existing Lender (without further
interest accruing on them) on the last day of the current Interest Period (or,
if the Interest Period is longer than six Months, on the next of the dates
which falls at six Monthly intervals after the first day of that Interest
Period); and

 

(b)           the rights assigned or transferred by the
Existing Lender will not include the right to the Accrued Amounts, so that, for
the avoidance of doubt:

 

(i)            when the Accrued Amounts become payable,
those Accrued Amounts will be payable to the Existing Lender; and

 

71

 

(ii)           the amount payable to the New Lender on
that date will be the amount which would, but for the application of this
Clause 23.9, have been payable to it on that date, but after deduction of the
Accrued Amounts.

 

24.           CHANGES TO THE OBLIGORS

 

24.1         Assignments and transfer by Obligors

 

Neither ABB nor
any Borrower may assign any of its rights or transfer any of its rights or
obligations under the Finance Documents.

 

24.2         Additional Borrowers

 

(a)           Subject to compliance with paragraphs
(c) and (d) of Clause 20.7 (“Know
your customer” checks), ABB may request by written notice that any
of its wholly owned Subsidiaries becomes an Additional Borrower. That
Subsidiary shall become an Additional Borrower if:

 

(i)            that Subsidiary is incorporated in an
Agreed Jurisdiction or all the Lenders approve the addition of that Subsidiary;

 

(ii)           ABB delivers to the Facility Agent a duly
completed and executed Borrower Accession Letter;

 

(iii)          ABB
confirms that no Default is continuing or would occur as a result of that
Subsidiary becoming an Additional Borrower; and

 

(iv)          the Facility Agent has received all of
the documents and other evidence listed in Part II of Schedule 2 (Conditions Precedent) in relation to that
Additional Borrower, each in form and substance reasonably satisfactory to the
Facility Agent.

 

(b)           The Facility Agent shall notify ABB and
the Lenders promptly upon receiving (in form and substance reasonably
satisfactory to it) all the documents and other evidence listed in Part II
of Schedule 2 (Conditions Precedent).

 

(c)           Delivery of a Borrower Accession Letter
constitutes confirmation by the relevant Subsidiary that the representations
and warranties in Clause 19.5 (Validity and
admissibility in evidence) and the representations and warranties
deemed to be repeated pursuant to Clause 19.14 (Repetition) are true and correct in relation to it as at the
date of delivery as if made by reference to the facts and circumstances then
existing.

 

24.3         Resignation of a Borrower

 

(a)           ABB may request that a Borrower ceases to
be a Borrower by delivering to the Facility Agent a Resignation Letter.

 

(b)           The Facility Agent shall accept a
Resignation Letter and notify ABB and the Lenders of its acceptance if:

 

(i)            no Default would result from the
acceptance of the Resignation Letter (and ABB has confirmed this to be the
case); and

 

72

 

(ii)           the relevant Borrower is under no actual
or contingent obligations under any Finance Documents,

 

whereupon that
company shall cease to be a Borrower and shall have no further rights or
obligations under the Finance Documents.

 

24.4         Repetition of Representation

 

Delivery of a
Borrower Accession Letter constitutes confirmation by the relevant Subsidiary
that the representations and warranties in Clause 19.5 (Validity and admissibility in evidence)
and the representations and warranties deemed to be repeated pursuant to Clause
19.14 (Repetition) are true and
correct in relation to it as at the date of delivery as if made by reference to
the facts and circumstances then existing.

 

73

 

SECTION 9

THE FINANCE PARTIES

 

25.           ROLE OF THE AGENTS AND THE MANDATED
LEAD ARRANGERS

 

25.1         Appointment of the Agents

 

(a)           Each of the Mandated Lead Arrangers and the Lenders
appoints each Agent to act as its agent under and in connection with the
Finance Documents.

 

(b)           Each of the Mandated Lead Arrangers and the Lenders
authorises each Agent to exercise the rights, powers, authorities and
discretions specifically given to such Agent under or in connection with the
Finance Documents together with any other incidental rights, powers,
authorities and discretions.

 

(c)           The Facility Agent and the Euro Swingline Agent shall,
unless ABB agrees otherwise, act out of an office in London.

 

(d)           The Dollar Swingline Agent shall, unless ABB agrees
otherwise, act out of an office in New York.

 

(e)           The SEK Swingline Agent shall, unless ABB agrees
otherwise, act out of an office in Stockholm.

 

25.2         Duties of the Agents

 

(a)           Subject to paragraph (b) below, each Agent shall
promptly forward to a Party the original or a copy of any document which is
delivered to that Agent for that Party by any other Party.

 

(b)           Without prejudice to Clause 23.7 (Copy of Transfer Certificate and Increase Confirmation
to ABB), paragraph (a) above shall not apply to any Transfer
Certificate or Increase Confirmation.

 

(c)           If the Facility Agent receives notice from a Party
referring to this Agreement, describing a Default and stating that the
circumstance described is a Default, it shall promptly notify the Lenders.

 

(d)           The Facility Agent shall promptly notify:

 

(i)            the Lenders of any Default arising under Clause 22.1 (Non-payment); and

 

(ii)           each Swingline Agent of:

 

(A)          any assignments or transfers by a Lender pursuant to
Clause 23 (Changes to the Lenders);
and

 

(B)           any changes to the Obligors pursuant to Clause 24 (Changes to the Obligors).

 

(e)           The Facility Agent shall provide to ABB within 5
Business Days of a request by ABB (made no more frequently than once per
calendar month), a list (which may be in electronic form) setting out the names
of the Lenders as at the date such list is provided, their respective
Commitments and Swingline

 

74

 

Commitments, the address
and fax number (and the department or officer, if any, for whose attention any
communication is to be made) of each Lender for any communication to be made or
document to be delivered under or in connection with the Finance Documents, the
electronic mail address and/or any other information required to enable the
sending and receipt of information by electronic mail or other electronic means
to and by each Lender to whom any communication under or in connection with the
Finance Documents may be made by that means and the account details of each
Lender for any payment to be distributed by an Agent to that Lender under the
Finance Documents.

 

(f)            Each Agent’s duties under the Finance Documents are
solely mechanical and administrative in nature.

 

25.3         Role of the Mandated Lead Arrangers

 

Except as specifically
provided in the Finance Documents, the Mandated Lead Arrangers have no
obligations of any kind to any other Party under or in connection with any
Finance Document.

 

25.4         No fiduciary duties

 

(a)           Nothing in this Agreement constitutes an Agent or a
Mandated Lead Arranger as a trustee or fiduciary of any other person.

 

(b)           No Agent nor any Mandated Lead Arranger shall be bound
to account to any Lender for any sum or the profit element of any sum received
by it for its own account.

 

25.5         Business with the Group

 

Each Agent and each
Mandated Lead Arranger may accept deposits from, lend money to and generally
engage in any kind of banking or other business with any of the Group
Companies.

 

25.6         Rights and discretions of the Agents

 

(a)           Each Agent may rely on:

 

(i)            any representation, notice or document believed by it
to be genuine, correct and appropriately authorised; and

 

(ii)           any statement made by a director, authorised signatory
or employee of any person regarding any matters which may reasonably be assumed
to be within his knowledge or within his power to verify.

 

(b)           Each Agent may assume (unless it has received notice
to the contrary in its capacity as agent for the Lenders) that:

 

(i)            no Default has occurred (unless it has actual
knowledge of a Default arising under Clause 22.1 (Non-payment)); and

 

(ii)           any right, power, authority or discretion vested in
any Party or the Majority Lenders has not been exercised.

 

75

 

(c)           Each Agent may engage, pay for and rely on the advice
or services of any lawyers, accountants, surveyors or other experts.

 

(d)           The Facility Agent may disclose the identity of a
Defaulting Lender to the other Finance Parties and ABB and shall disclose the
same upon the written request of ABB or the Majority Lenders.

 

(e)           Each Agent may act in relation to the Finance
Documents through its personnel and agents.

 

25.7         Majority Lenders’ instructions

 

(a)           Unless a contrary indication appears in a Finance
Document, each Agent shall (a) act in accordance with any instructions
given to it by the Majority Lenders (or, if so instructed by the Majority
Lenders, refrain from acting or exercising any right, power, authority or
discretion vested in it as Agent) and (b) not be liable for any act (or
omission) if it acts (or refrains from taking any action) in accordance with
such an instruction of the Majority Lenders.

 

(b)           Unless a contrary indication appears in a Finance
Document, any instructions given by the Majority Lenders will be binding on all
the Finance Parties.

 

(c)           Each Agent may refrain from acting in accordance with
the instructions of the Majority Lenders (or, if appropriate, the Lenders)
until it has received such security as it may require for any cost, loss or
liability (together with any associated VAT) which it may incur in complying
with the instructions.

 

(d)           In the absence of instructions from the Majority
Lenders, (or, if appropriate, the Lenders) each Agent may act (or refrain from
taking action) as it considers to be in the best interest of the Lenders.

 

(e)           No Agent is authorised to act on behalf of a Lender
(without first obtaining that Lender’s consent) in any legal or arbitration
proceedings relating to any Finance Document.

 

25.8         Responsibility for documentation

 

No Agent nor any Mandated
Lead Arranger:

 

(a)           is responsible for the adequacy, accuracy and/or
completeness of any information (whether oral or written) supplied by an Agent,
a Mandated Lead Arranger, ABB, any Borrower or any other person given in or in
connection with any Finance Document or the Information Package;

 

(b)           is responsible for the legality, validity,
effectiveness, adequacy or enforceability of any Finance Document or any other
agreement, arrangement or document entered into, made or executed in
anticipation of or in connection with any Finance Document; or

 

(c)           is responsible for any determination as to whether any
information provided or to be provided to any Finance Party is non-public
information the use of which

 

76

 

may be regulated or
prohibited by applicable law or regulation relating to insider dealing or
otherwise.

 

25.9         Exclusion of liability

 

(a)           Without limiting paragraph (b) below, no Agent
will be liable for any action taken by it under or in connection with any
Finance Document, unless directly caused by its negligence, wilful default or
wilful misconduct.

 

(b)           No Party may take any proceedings against any officer,
employee or agent of an Agent in respect of any claim it might have against
such Agent or in respect of any act or omission of any kind by that officer,
employee or agent in relation to any Finance Document and any officer, employee
or agent of such Agent may rely on this Clause.

 

(c)           No Agent will (absent negligence, wilful default or
wilful misconduct directly giving rise to such liability) be liable for any
delay (or any related consequences) in crediting an account with an amount
required under the Finance Documents to be paid by such Agent if that Agent has
taken all necessary steps as soon as reasonably practicable to comply with the
regulations or operating procedures of any recognised clearing or settlement
system used by such Agent for that purpose.

 

(d)           Nothing in this Agreement shall oblige the Facility
Agent or any Mandated Lead Arranger to carry out any “know your customer” or
other checks in relation to any person on behalf of any Lender and each Lender
confirms to the Facility Agent and the Mandated Lead Arrangers that it is
solely responsible for any such checks it is required to carry out and that it
may not rely on any statement in relation to such checks made by the Facility
Agent or the Mandated Lead Arrangers.

 

25.10       Lenders’ indemnity to the Agents

 

The Lenders shall (in
proportion to their Commitments or, if the Total Commitments are then zero, to
their Commitments immediately prior to their reduction to zero) severally
indemnify each Agent, within three Business Days of demand, against any cost,
loss or liability incurred by such Agent (otherwise than by reason of such
Agent’s negligence or wilful misconduct) in acting as Agent under the Finance
Documents (unless such Agent has been reimbursed by ABB or the Borrowers
pursuant to a Finance Document).

 

25.11       Resignation of an Agent

 

(a)           An Agent may resign and appoint one of its Affiliates
as successor by giving notice to the Lenders and ABB provided that such successor shall act (to the extent
relevant) out of an office in the following locations (each a “Required Location”):

 

(i)            in the case of the Facility Agent, London;

 

(ii)           in the case of the Dollar Swingline Agent, New York;

 

(iii)          in the case of the Euro Swingline Agent, London; and

 

77

 

(iv)          in the case of the SEK Swingline Agent, Stockholm.

 

(b)           Alternatively an Agent may resign by giving notice to
the Lenders and ABB, in which case the Majority Lenders may appoint a successor
Agent which will act out of an office in the relevant Required Location.

 

(c)           If the Majority Lenders have not appointed a successor
Agent in accordance with paragraph (b) above within 30 days after notice
of resignation was given, the resigning Agent may appoint a successor Agent
which will act out of an office in the relevant Required Location.

 

(d)           A successor Agent may only be appointed with the prior
consent of ABB (such consent not to be unreasonably withheld or delayed).

 

(e)           The retiring Agent shall, at its own cost, make
available to the successor Agent such documents and records and provide such
assistance as the successor Agent may reasonably request for the purposes of
performing its functions as Agent under the Finance Documents.

 

(f)            Such Agent’s resignation notice shall only take effect
upon the appointment of a successor as contemplated in paragraphs (b) and
(c) above.

 

(g)           Upon the appointment of a successor, the retiring
Agent shall be discharged from any further obligation in respect of the Finance
Documents but shall remain entitled to the benefit of this Clause 25. Its
successor and each of the other Parties shall have the same rights and
obligations amongst themselves as they would have had if such successor had
been an original Party.

 

25.12       Replacement of an Agent

 

(a)           After consultation with ABB, the Majority Lenders may,
by giving 30 days’ notice to an Agent (or, at any time an Agent is an Impaired
Agent, by giving any shorter notice determined by the Majority Lenders) replace
that Agent by appointing a successor Agent acting out of an office in the
relevant Required Location. A successor Agent may only be appointed with the
prior consent of ABB (such consent not to be unreasonably withheld or delayed).

 

(b)           The retiring Agent shall (at its own cost if it is an
Impaired Agent and otherwise at the expense of the Lenders) make available to
the successor Agent such documents and records and provide such assistance as the
successor Agent may reasonably request for the purposes of performing its
functions as Agent under the Finance Documents.

 

(c)           The appointment of a successor Agent shall take effect
on the date specified in the notice from the Majority Lenders to the retiring
Agent. As from that date, the retiring Agent shall be discharged from any
further obligation in respect of the Finance Documents but shall remain
entitled to the benefit of this Clause 25 (and any agency fees for the account
of the retiring Agent shall cease to accrue from (and shall be payable on) that
date).

 

78

 

(d)           Any successor Agent and each of the other Parties
shall have the same rights and obligations amongst themselves as they would
have had if such successor had been an original Party.

 

25.13       Confidentiality

 

(a)           In acting as agent for the Finance Parties, each Agent
shall be regarded as acting through its agency division which shall be treated
as a separate entity from any other of its divisions or departments.

 

(b)           If information is received by another division or
department of an Agent, it may be treated as confidential to that division or
department and such Agent shall not be deemed to have notice of it.

 

(c)           Notwithstanding any other provision of any Finance
Document to the contrary, neither Agent nor either Mandated Lead Arranger is
obliged to disclose to any other person (i) any confidential information
or (ii) any other information if the disclosure would or might in its reasonable
opinion constitute a breach of any law or a breach of a fiduciary duty.

 

25.14       Relationship with the Lenders

 

(a)           Subject to Clause 23.9 (Pro rata interest settlement), each Agent may treat the person
shown in its records as Lender at the opening of business (in the place of the
relevant Agent’s principal office as notified to the Finance Parties from time
to time) as the Lender acting through its Facility Office:

 

(i)            entitled to or liable for any payment due under any
Finance Document on that day; and

 

(ii)           entitled to receive and act upon any notice, request,
document or communication or make any decision or determination under any
Finance Document made or delivered on that day,

 

unless it has received
not less than 5 Business Days’ prior notice from that Lender to the contrary in
accordance with the terms of this Agreement.

 

(b)           Each Lender shall supply the Facility Agent with any
information required by the Facility Agent in order to calculate the Mandatory
Cost in accordance with Schedule 8 (Mandatory
Cost).

 

(c)           Any Lender may by notice to the Facility Agent,
appoint a person to receive on its behalf all notices, communications,
information and documents to be made or despatched to that Lender under the
Finance Documents. Such notice shall contain the address, fax number and (where
communication by electronic mail or other electronic means is permitted under
paragraph (b) of Clause 30.1 (Communications
in writing)) electronic mail address and/or any other information
required to enable the sending and receipt of information by that means (and,
in each case, the department or officer, if any, for whose attention
communication is to be made) and be treated as a notification of a substitute
address, fax number, electronic mail address, department and officer by that
Lender for the purposes of Clause 30.2 (Addresses)
and paragraph (b) of Clause

 

79

 

30.1 (Communications in writing) and each Agent
shall be entitled to treat such person as the person entitled to receive all
such notices, communications, information and documents as though that person
were that Lender.

 

25.15       Credit appraisal by the Lenders

 

Without affecting the
responsibility of each Obligor for information supplied by it or on its behalf
in connection with any Finance Document, each Lender confirms to each Agent and
each Mandated Lead Arranger that it has been, and will continue to be, solely
responsible for making its own independent appraisal and investigation of all
risks arising under or in connection with any Finance Document including but
not limited to:

 

(a)           the financial condition, status and nature of each
Group Company;

 

(b)           the legality, validity, effectiveness, adequacy or
enforceability of any Finance Document and any other agreement, arrangement or
document entered into, made or executed in anticipation of, under or in
connection with any Finance Document;

 

(c)           whether that Lender has recourse, and the nature and
extent of that recourse, against any Party or any of its respective assets under
or in connection with any Finance Document, the transactions contemplated by
the Finance Documents or any other agreement, arrangement or document entered
into, made or executed in anticipation of, under or in connection with any
Finance Document; and

 

(d)           the adequacy, accuracy and/or completeness of the
Information Package and any other information provided by an Agent, any other
Party or by any other person under or in connection with any Finance Document,
a Mandated Lead Arranger the transactions contemplated by the Finance Documents
or any other agreement, arrangement or document entered into, made or executed
in anticipation of, under or in connection with any Finance Document.

 

25.16       Reference Banks

 

If a Reference Bank (or,
if a Reference Bank is not a Lender, the Lender of which it is an Affiliate)
ceases to be a Lender, the Facility Agent shall (in consultation with ABB)
appoint another Lender or an Affiliate of a Lender to replace that Reference
Bank.

 

26.           CONDUCT OF BUSINESS BY THE FINANCE
PARTIES

 

No provision of this
Agreement will:

 

(a)           interfere with the right of any Finance Party to
arrange its affairs (tax or otherwise) in whatever manner it thinks fit;

 

(b)           oblige any Finance Party to investigate or claim any
credit, relief, remission or repayment available to it or the extent, order and
manner of any claim; or

 

(c)           oblige any Finance Party to disclose any information
relating to its affairs (tax or otherwise) or any computations in respect of
Tax.

 

80

 

27.           SHARING
AMONG THE LENDERS

 

27.1         Payments to
Lenders

 

If
a Lender (a “Recovering Lender”)
receives or recovers any amount from ABB or a Borrower other than in accordance
with Clause 28 (Payment mechanics)
(a “Recovered Amount”) and applies
that amount to a payment due under the Finance Documents then:

 

(a)           the Recovering Lender shall, within 3 Business Days,
notify details of the receipt or recovery to the Facility Agent;

 

(b)           the Facility Agent shall determine whether the
receipt or recovery is in excess of the amount the Recovering Lender would have
been paid had the receipt or recovery been received or made by the Facility
Agent and distributed in accordance with Clause 28 (Payment mechanics), without taking account of any Tax which
would be imposed on the Facility Agent in relation to the receipt, recovery or
distribution; and

 

(c)           the Recovering Lender shall, within three Business
Days of demand by the Facility Agent, pay to the Facility Agent an amount (the
“Sharing Payment”) equal to such
receipt or recovery less any amount which the Facility Agent determines may be
retained by the Recovering Lender as its share of any payment to be made, in
accordance with Clause 28.6 (Partial
payments).

 

27.2         Redistribution
of payments

 

The
Facility Agent shall treat the Sharing Payment as if it had been paid by ABB or
the relevant Borrower (as the case may be) and distribute it between the
Finance Parties (other than the Recovering Lender) (the “Sharing Finance Parties”) in accordance
with Clause 28.6 (Partial payments)
towards the obligations of that Obligor to the Sharing Finance Parties.

 

27.3         Recovering
Lender’s rights

 

On
a distribution by the Facility Agent under Clause 27.2 (Redistribution of payments) of a payment
received by a Recovering Finance Party from an Obligor, as between the relevant
Obligor and the Recovering Finance Party, an amount of the Recovered Amount
equal to the Sharing Payment will be treated as not having been paid by that
Obligor.

 

27.4         Reversal of
redistribution

 

If
any part of the Sharing Payment received or recovered by a Recovering Lender
becomes repayable and is repaid by that Recovering Lender, then:

 

(a)           each Sharing Finance Party shall, upon request of
the Facility Agent, pay to the Facility Agent for the account of that
Recovering Lender an amount equal to its share of the Sharing Payment (together
with an amount as is necessary to reimburse that Recovering Lender for its
proportion of any interest on the Sharing Payment which that Recovering Lender
is required to pay) (the “Redistributed
Amount”); and

 

(b)           as between the relevant Obligor and each relevant
Sharing Finance Party, an amount equal to the relevant Redistributed Amount
will be treated as not having been paid by that Obligor.

 

81

 

27.5         Exceptions

 

(a)           This Clause 27 shall not apply to the extent that
the Recovering Lender would not, after making any payment pursuant to this
Clause, have a valid and enforceable claim against ABB or the relevant Borrower
(as the case may be).

 

(b)           A Recovering Lender is not obliged to share with any
other Finance Party any amount which the Recovering Lender has received or
recovered as a result of taking legal or arbitration proceedings, if:

 

(i)            it notified the other Lenders of the legal or
arbitration proceedings; and

 

(ii)           the other Lender had an opportunity to participate
in those legal or arbitration proceedings but did not do so as soon as
reasonably practicable having received notice or did not take separate legal or
arbitration proceedings.

 

82

 

SECTION 10

ADMINISTRATION

 

28.           PAYMENT
MECHANICS

 

28.1         Payments to
the Agents

 

(a)           For the purpose
of this Clause 28 a reference to the “Relevant
Agent” means:

 

(i)            in relation to payments under the Dollar Swingline
Facility, the Dollar Swingline Agent;

 

(ii)           in relation to payments under the Euro Swingline
Facility, the Euro Swingline Agent;

 

(iii)          in relation to payments under the SEK Swingline
Facility, the SEK Swingline Agent; and

 

(iv)          for all other payments, the Facility Agent.

 

(b)           On each date on
which a Borrower or a Lender is required to make a payment under a Finance
Document, such Borrower or, as the case may be, such Lender shall make the same
available to the Relevant Agent (unless a contrary indication appears in a
Finance Document) for value on the due date at the time and in such funds
specified by the Relevant Agent as being customary at the time for settlement
of transactions in the relevant currency in the place of payment.

 

(c)           Payment shall
be made to such account in the principal financial centre of the country of
that currency (or, in relation to Euro, in a principal financial centre in a
Participating Member State or London) with such bank as the Relevant Agent
specifies.

 

28.2         Distributions
by the Agents

 

Each
payment received by an Agent under the Finance Documents for another Party
shall, subject to Clause 28.3 (Distributions
to the Obligors) and Clause 28.4 (Clawback)
be made available by such Agent as soon as practicable after receipt to the
Party entitled to receive payment in accordance with this Agreement (in the
case of a Lender, for the account of its Facility Office), to such account as
that Party may notify to the relevant Agent by not less than 5 Business Days’
notice with a bank in the principal financial centre of the country of that
currency (or, in relation to Euro, in the principal financial centre of a
Participating Member State or London).

 

28.3         Distributions
to the Obligors

 

An
Agent may (with the consent of ABB or the relevant Borrower (as the case may
be) or in accordance with Clause 29 (Set-off))
apply any amount received by it for ABB or that Borrower in or towards payment
(on the date and in the currency and funds of receipt) of any amount due from
ABB or that Borrower (as the case may be) under the Finance Documents or in or
towards purchase of any amount of any currency to be so applied.

 

83

 

28.4         Clawback

 

(a)           Where a sum is to be paid to an Agent under the
Finance Documents for another Party, such Agent is not obliged to pay that sum
to that other Party (or to enter into or perform any related exchange contract)
until it has been able to establish to its absolute satisfaction that it has
actually received that sum (and such Agent shall make such due enquiry as a
diligent agent would make in so establishing).

 

(b)           If an Agent pays an amount to another Party and it
proves to be the case that such Agent had not actually received that amount,
then the Party to whom that amount (or the proceeds of any related exchange
contract) was paid by such Agent shall on demand refund the same to such Agent
together with interest on that amount from the date of payment to the date of
receipt by such Agent, calculated by such Agent to reflect its cost of funds.

 

(c)           In the event that a Lender fails to make its
participation in an Advance available to the Relevant Agent (as defined in
Clause 28.1 (Payments to the Agents))
in accordance with the terms of this Agreement, such Lender hereby indemnifies
the Relevant Agent on demand against all costs, losses and expenses that the
Relevant Agent may incur as a result of such failure (including, without
limitation, where the Relevant Agent, at its sole option, makes arrangements to
make available to the relevant Borrower an amount equal to said participation).

 

(d)           For the purposes of paragraph (c) of this
Clause 28.4, if a Lender makes its participation available to the Relevant
Agent after 3.00 p.m. (London time) on the due date, such participation
shall be deemed to have been made available on the Business Day immediately
succeeding the said due date.

 

28.5         Impaired
Agents

 

(a)

 

(i)            If, at any time, an Agent becomes an Impaired Agent,
an Obligor or a Lender which is required to make a payment under the Finance
Documents to that Agent in accordance with Clause 28.1 (Payments
to the Agents) may (or shall, in the case of a payment by a
Lender if paragraph (ii) below applies) instead pay that amount direct to
the required recipient or (except where paragraph (ii) below applies) pay
that amount to an interest-bearing account held with an Acceptable Bank in
relation to which no Insolvency Event has occurred and is continuing, in the
name of the Obligor or the Lender making the payment and designated as a trust
account for the benefit of the Party or Parties beneficially entitled to that
payment under the Finance Documents. In each case such payments must be made on
the due date for payment under the Finance Documents.

 

(ii)           This paragraph (ii) applies in relation to a
payment by a Lender if ABB has notified that Lender in writing on or before the
date falling 3 Business Day prior to the date for payment (or 1 Business Day
prior to the date for payment in respect of any Swingline Advance), that the

 

84

 

relevant
Agent is an Impaired Agent and that this paragraph (ii) applies to such
payment.

 

(b)           All interest accrued on the amount standing to the
credit of the trust account shall be for the benefit of the beneficiaries of
that trust account pro rata to their respective entitlements.

 

(c)           A Party which has made a payment in accordance with
this Clause 28.5 shall be discharged of the relevant payment obligation under
the Finance Documents and shall not take any credit risk with respect to the
amounts standing to the credit of the trust account.

 

(d)           Promptly upon the appointment of a successor Agent
in accordance with Clause 25.11 (Resignation
of an Agent) or 25.12 (Replacement
of an Agent), each Party which has made a payment to a trust account
in accordance with this Clause 28.5 shall give all requisite instructions to
the bank with whom the trust account is held to transfer the amount (together
with any accrued interest) to the successor Agent for distribution in
accordance with Clause 28.2 (Distributions
by the Agents).

 

(e)           In this Clause 28.5 “Acceptable Bank” means a bank which has a rating for its
long-term unsecured and non credit-enhanced debt obligations of A or higher by
Standard & Poor’s Rating Services or A2 or higher by Moody’s Investor
Services Limited.

 

(f)            Each Agent shall notify ABB, the other Agents and
the Lenders promptly after becoming an Impaired Agent.

 

28.6         Partial
payments

 

(a)           If an Agent
receives a payment that is insufficient to discharge all the amounts then due
and payable by ABB or the Borrowers under the Finance Documents, such Agent
shall apply that payment towards the obligations of the Obligors under the
Finance Documents in the following order:

 

(i)            first, in or towards payment pro rata of any unpaid fees,
costs and expenses of the Agents under the Finance Documents;

 

(ii)           secondly, in or towards payment pro rata of any accrued
interest or commission due but unpaid under this Agreement;

 

(iii)          thirdly, in or towards payment pro rata of any principal
due but unpaid under this Agreement; and

 

(iv)          fourthly, in or towards payment pro rata of any other sum
due but unpaid under the Finance Documents.

 

(b)           The Facility
Agent shall, if so directed by the Majority Lenders, vary the order set out in
paragraphs (a)(ii) to (iv) above.

 

85

 

(c)           Paragraphs
(a) and (b) above will override any appropriation made by ABB or any
Borrower.

 

28.7         No set-off
by Obligors

 

All
payments to be made by ABB or the Borrowers under the Finance Documents shall
be calculated and be made without (and free and clear of any deduction for)
set-off or counterclaim.

 

28.8         Business
Days

 

(a)           Any payment
which is due to be made on a day that is not a Business Day shall be made on
the next Business Day in the same calendar month (if there is one) or the
preceding Business Day (if there is not).

 

(b)           During any
extension of the due date for payment of any principal or an Unpaid Sum under
this Agreement interest is payable on the principal at the rate payable on the
original due date.

 

28.9         Currency of
account

 

(a)           Subject to paragraphs (b) to (e) below,
the Base Currency is the currency of account and payment for any sum due from
ABB or the Borrowers under any Finance Document.

 

(b)           A repayment of an Advance or Unpaid Sum or a part of
an Advance or Unpaid Sum shall be made in the currency in which that Advance or
Unpaid Sum is denominated on its due date.

 

(c)           Each payment of interest shall be made in the currency
in which the sum in respect of which the interest is payable was denominated
when that interest accrued.

 

(d)           Each payment in respect of costs, expenses or Taxes
shall be made in the currency in which the costs, expenses or Taxes are
incurred.

 

(e)           Any amount expressed to be payable in a currency
other than the Base Currency shall be paid in that other currency.

 

28.10       Change of
currency

 

(a)           Unless
otherwise prohibited by law, if more than one currency or currency unit are at
the same time recognised by the central bank of any country as the lawful
currency of that country, then:

 

(i)            any reference in the Finance Documents to, and any
obligations arising under the Finance Documents in, the currency of that
country shall be translated into, or paid in, the currency or currency unit of
that country designated by the Facility Agent (after consultation with ABB);
and

 

(ii)           any translation from one currency or currency unit
to another shall be at the official rate of exchange recognised by the central
bank for the conversion of that currency or currency unit into the other,
rounded up or down by the Facility Agent (acting reasonably).

 

86

 

(b)           If a change in
any currency of a country occurs, this Agreement will, to the extent the
Facility Agent (acting reasonably and after consultation with ABB) specifies to
be necessary, be amended to comply with any generally accepted conventions and
market practice in the Relevant Interbank Market and otherwise to reflect the change
in currency.

 

29.           SET-OFF

 

Without
prejudice to the rights at law of each Finance Party, while an Event of Default
is continuing, a Finance Party may set off any matured obligation due from ABB
or the Borrowers under the Finance Documents (to the extent beneficially owned
by that Finance Party) against any matured obligation owed by that Finance
Party to ABB or the Borrowers, regardless of the place of payment, booking
branch or currency of either obligation. If the obligations are in different
currencies, the Finance Party may convert either obligation at a market rate of
exchange in its usual course of business for the purpose of the set-off.

 

30.           NOTICES

 

30.1         Communications
in writing

 

(a)           Any communication to be made under or in connection
with the Finance Documents shall be made in writing and, unless otherwise
stated, may be made by fax or letter.

 

(b)           With the consent of the relevant Lender, the Agents
may serve notices and other information on a Lender by way of electronic mail.

 

30.2         Addresses

 

(a)           The address and
fax number (and the department or officer, if any, for whose attention the
communication is to be made) of each Party for any communication or document to
be made or delivered under or in connection with the Finance Documents is:

 

(i)            in the case of the Original Obligors, that
identified in Part V (The Original
Obligors) of Schedule 1, with a copy to ABB and ABB Capital B.V.,
Zurich Branch;

 

(ii)           in the case of ABB, that identified in Part V (The Original Obligors) of Schedule 1;

 

(iii)          in the case of an Additional Borrower, that
identified in the Borrower Accession Letter relating to that Additional
Borrower, with a copy to ABB and ABB Capital B.V., Zurich Branch;

 

(iv)          in the case of ABB Capital B.V., Zurich Branch, that
identified in paragraph (b) below;

 

(v)           in the case of each Lender, that notified in writing
to the Facility Agent on or prior to the date on which it becomes a Party; and

 

(vi)          in the case of an Agent, that identified in
paragraph (b) below,

 

87

 

or
any substitute address, fax number or department or officer as the Party may
notify to the Facility Agent (or the Facility Agent may notify to the other
Parties, if a change is made by the Facility Agent) by not less than 5 Business
Days’ notice.

 

(b)

 

(i)            the Facility Agent:

 

Credit
Suisse

One
Cabot Square

London
E14 4QJ

 

Attn:       london.loansagency@credit-suisse.com

 

Tel:         +44 20 7888 8364 / +44 20 7883 6322

Fax:        +44 20 7888 8398

 

(ii)           the Dollar Swingline Agent:

 

Credit
Suisse, Cayman Islands Branch

Eleven
Madison Avenue

New
York

NY
10010-3629

 

Attn:       Loans Agency/ Derrick Ray

 

Tel:         +1-919-994-5559

Fax:        +1-866-469-3871

E-mail:
corpbanking.tmg@credit-suisse.com

 

(iii)          the Euro Swingline Agent:

 

Credit
Suisse

One
Cabot Square

London
E14 4QJ

 

Attn:       london.loansagency@credit-suisse.com

 

Tel:         +44 20 7888 8364 / +44 20 7883 6322

Fax:        +44 20 7888 8398

 

(iv)          the SEK Swingline Agent:

 

Nordea
Bank AB (publ)

 

Attn:       Structured Loan Operations

 

Tel:         +46 8 614 7080

Fax:        +46 8 6147630

 

88

 

E-mail:
slo.sweden@nordea.com

 

(v)           ABB Capital
B.V., Zurich Branch:

 

Affolternstrasse
44

PO
Box 8131

CH-8050

Switzerland

Attn:       Head of GTO

Fax:        +41 43 317 7474

 

Copy:     Legal Department

Fax:        +41 43 317 7992

 

30.3        Delivery

 

(a)           Any communication
or document made or delivered by one person to another under or in connection
with the Finance Documents will only be effective:

 

(i)            if by way of fax, when received in legible form; or

 

(ii)           if by way of letter, when it has been left at the
relevant address or 5 (in the case of domestic mail) or 10 (in the case of air
mail) Business Days after being deposited in the post postage prepaid in an
envelope addressed to it at that address; or

 

(iii)          if by way of electronic mail, when received.

 

and,
if a particular department or officer is specified as part of its address
details provided under Clause 30.2 (Addresses),
if addressed to that department or officer, provided
that if receipt is on a day that is not a working day in the country
of receipt or is at a time outside normal business hours, such communication
shall be effective on the next succeeding working day.

 

(b)           Any
communication or document to be made or delivered to an Agent will be effective
only when actually received by such Agent and then only if it is expressly
marked for the attention of the department or officer identified in Clause 30.2
(Addresses) (or any substitute
department or officer as the relevant Agent shall specify for this purpose).

 

(c)            All notices from or to an
Obligor shall be sent through the Facility Agent.

 

30.4        Notification
of address and fax number

 

Promptly
upon receipt of notification of an address, fax number or change of address or
fax number pursuant to Clause 30.2 (Addresses)
or changing its own address or fax number, the Facility Agent shall notify the
other Parties.

 

30.5        Communication
when an Agent is an Impaired Agent

 

If
an Agent is an Impaired Agent the Parties may, instead of communicating with
each other through that Agent, communicate with each other directly and (while
that Agent is an Impaired Agent) all the provisions of the Finance Documents
which require

 

89

 

communications
to be made or notices to be given to or by that Agent shall be varied so that
communications may be made and notices given to or by the relevant Parties
directly. This provision shall not operate after a replacement Agent has been
appointed.

 

30.6        English
language

 

(a)           Any notice given under or in connection with any
Finance Document must be in English.

 

(b)           All other documents provided under or in connection
with any Finance Document must be:

 

(i)            in English; or

 

(ii)           if not in English, and if so required by the
Facility Agent, accompanied by a certified English translation.

 

31.          CALCULATIONS AND CERTIFICATES

 

31.1        Accounts

 

In
any litigation or arbitration proceedings arising out of or in connection with
a Finance Document, the entries made in the accounts maintained by a Finance
Party are prima facie evidence of the matters to which they relate.

 

31.2        Certificates
and Determinations

 

Except
where otherwise indicated, any certification or determination by a Finance
Party of a rate or amount under any Finance Document is, in the absence of
manifest error, conclusive evidence of the matters to which it relates.

 

31.3        Day count
convention

 

Any
interest, commission or fee accruing under a Finance Document will accrue from
day to day and is calculated on the basis of the actual number of days elapsed
and a year of 360 days or, in any case where the practice in the Relevant
Interbank Market differs, in accordance with that market practice.

 

32.          PARTIAL INVALIDITY

 

If,
at any time, any provision of the Finance Documents is or becomes illegal,
invalid or unenforceable in any respect under any law of any jurisdiction,
neither the legality, validity or enforceability of the remaining provisions
nor the legality, validity or enforceability of such provision under the law of
any other jurisdiction will in any way be affected or impaired.

 

33.          REMEDIES AND WAIVERS

 

No
failure to exercise, nor any delay in exercising, on the part of any Finance
Party, any right or remedy under the Finance Documents shall operate as a
waiver, nor shall any single or partial exercise of any right or remedy prevent
any further or other exercise or the exercise of any other right or remedy. The
rights and remedies provided in this Agreement are cumulative and not exclusive
of any rights or remedies provided by law.

 

90

 

34.          AMENDMENTS
AND WAIVERS

 

34.1        Required
consents

 

(a)           Subject to Clause 34.2 (Exceptions) any term of the Finance Documents may be amended
or waived only with the consent of the Majority Lenders and ABB and any such
amendment or waiver will be binding on all Parties.

 

(b)           The Facility Agent may effect (and is hereby so
authorised by each Finance Party), on behalf of any Finance Party, any
amendment or waiver permitted by this Clause.

 

34.2        Exceptions

 

(a)           An amendment or
waiver that has the effect of changing or which relates to:

 

(i)            the definition of “Majority
Lenders” in Clause 1.1 (Definitions);

 

(ii)           an extension to the date of payment of any amount
under the Finance Documents;

 

(iii)          a reduction in the Margin or the amount of any
payment of principal, interest, fees or commission payable;

 

(iv)          an increase in any Commitment or Swingline
Commitment other than an increase made in accordance with Clause 2.2 (Increase);

 

(v)           any provision which expressly requires the consent
of all the Lenders;

 

(vi)          Clause 2.3 (Lenders’
rights and obligations), Clause 4.2 (Further conditions precedent), Clause 23 (Changes to the Lenders), Clause 24 (Changes to the Obligors), Clause 27 (Sharing among the Lenders) or this Clause
34;

 

(vii)         the nature or scope of the guarantee and indemnity
granted under Clause 18 (Guarantee and
Indemnity); or

 

(viii)        any change to the Obligors other than in accordance
with Clause 24 (Changes to the Obligors),

 

shall
not be made without the prior consent of all the Lenders.

 

(b)           An amendment or
waiver which relates to the rights or obligations of any Agent or any Mandated
Lead Arranger (in their capacity as such) may not be effected without the
consent of such Agent or such Mandated Lead Arranger.

 

34.3        Disenfranchisement
of Defaulting Lenders

 

(a)           For so long as
a Defaulting Lender has any Commitment, in ascertaining the Majority Lenders or
whether any given percentage (including, for the avoidance of doubt, unanimity)
of the Total Commitments has been obtained to approve any request for a
consent, waiver, amendment or other vote under the Finance Documents:

 

91

 

(i)            that Defaulting Lender’s Commitments will be reduced
by the amount of its Available Commitments; and

 

(ii)           that Defaulting Lender’s Commitments will be ignored
if that Defaulting Lender fails to respond to a request for a waiver or
amendment within the time period specified by ABB and (unless it is an Impaired
Agent) the Facility Agent.

 

(b)           For the
purposes of this Clause 34.3, the Facility Agent may assume that the following
Lenders are Defaulting Lenders:

 

(i)            any Lender which has notified the Facility Agent
that it has become a Defaulting Lender (and each Lender shall notify the
Facility Agent and ABB promptly after becoming a Defaulting Lender);

 

(ii)           any Lender in relation to which it is aware that any
of the events or circumstances referred to in paragraphs (a), (b) or (c) of
the definition of “Defaulting Lender” has occurred,

 

unless
it has received notice to the contrary from the Lender concerned (together with
any supporting evidence reasonably requested by the Facility Agent) or the
Facility Agent is otherwise aware that the Lender has ceased to be a Defaulting
Lender.

 

34.4        Replacement
of a Defaulting Lender

 

(a)           ABB may, at any
time a Lender has become and continues to be a Defaulting Lender, by giving 5
Business Days’ prior written notice to the Facility Agent and such Lender:

 

(i)            replace such Lender and any Revolving Facility
Affiliate or Swingline Affiliate of that Lender by requiring such Lender and
any such Revolving Facility Affiliate or Swingline Affiliate to (and to the
extent permitted by law that Lender or Revolving Facility Affiliate or
Swingline Affiliate shall) transfer pursuant to Clause 23 (Changes to the Lenders) all (and, save to
the extent provided for in this Clause, not part only) of its rights and
obligations under this Agreement (including in respect of any Separate
Advances); or

 

(ii)           require such Lender and/or its Revolving Facility
Affiliate or Swingline Affiliate to (and to the extent permitted by law such
Lender or Revolving Facility Affiliate of Swingline Affiliate shall) transfer
pursuant to Clause 23 (Changes to the
Lenders) all (and, save to the extent provided for in this Clause,
not part only) of the undrawn Commitment and/or Swingline Commitment of such
Lender and/or its Revolving Facility Affiliate or Swingline Affiliate,

 

to
a Lender or other bank (a “Replacement Lender”)
selected by ABB, and which confirms its willingness to assume and does assume
all the obligations or all the relevant obligations of the transferring Lender,
Revolving Facility

 

92

 

Affiliate
or Swingline Affiliate (including the assumption of participations or unfunded
participations (as the case may be) of the transferor on the same basis as the
transferor) for a purchase price in cash payable at the time of transfer equal
to the outstanding principal amount of such Lender’s or Revolving Facility
Affiliate’s or Swingline Affiliate’s participation in the outstanding Advances
and all accrued interest (to the extent that the Facility Agent has not given a
notification under Clause 23.9 (Pro rata
interest settlement), Break Costs and other amounts payable in
relation thereto under the Finance Documents. Where a Lender to be replaced
pursuant to this paragraph is a Swingline Lender that is the Swingline
Affiliate of another Lender, the rights and obligations required to be
transferred pursuant to this Clause by that other Lender in its capacity as the
Revolving Facility Affiliate of that Swingline Lender may, at the option of
ABB, be limited to those necessary for the Commitments of the replacement
Lender (or its Affiliate) to be at least equal to each of the Swingline
Commitments to be transferred to such replacement Lender pursuant to this
Clause.

 

(b)           Any transfer of
rights and obligations of a Lender pursuant to this Clause shall be subject to
the following conditions:

 

(i)            ABB shall have no right to replace an Agent;

 

(ii)           no Agent nor the Defaulting Lender nor any other
Finance Party shall have any obligation to find a Replacement Lender;

 

(iii)          the transfer must take place no later than 20 days
after the notice referred to in paragraph (a) above; and

 

(iv)          in no event shall the Defaulting Lender be required
to pay or surrender to the Replacement Lender any of the fees received by the
Defaulting Lender pursuant to the Finance Documents.

 

35.          COUNTERPARTS

 

Each
Finance Document may be executed in any number of counterparts, and this has
the same effect as if the signatures on the counterparts were on a single copy
of the Finance Document.

 

93

 

SECTION 11

GOVERNING LAW AND ENFORCEMENT

 

36.          GOVERNING LAW

 

This
Agreement and any non-contractual obligations arising out of or in connection
with it are governed by English law.

 

37.          ENFORCEMENT

 

37.1        Jurisdiction

 

(a)           The courts of England have exclusive jurisdiction to
settle any dispute arising out of or in connection with this Agreement
(including a dispute relating to the existence, validity or termination of this
Agreement or any non-contractual obligations arising out of or in connection
with this Agreement) (a “Dispute”).

 

(b)           The Parties agree that the courts of England are the
most appropriate and convenient courts to settle Disputes and accordingly no
Party will argue to the contrary.

 

(c)           This Clause 37 is for the benefit of the Finance
Parties only. As a result, no Finance Party shall be prevented from taking
proceedings relating to a Dispute (“Proceedings”)
in any other courts with jurisdiction.

 

(d)           If ABB Capital B.V. is represented by an attorney or
attorneys in connection with the signing and/or execution and/or delivery of
this Agreement or any agreement or document referred to herein or made pursuant
hereto and the relevant power or powers of attorney is or are expressed to be
governed by the laws of a particular jurisdiction, it is hereby expressly
acknowledged and accepted by the other parties hereto that such laws shall
govern the existence and extent of such attorney’s or attorneys’ authority and
the effects of the exercise thereof.

 

(e)           ABB and each Borrower incorporated in a jurisdiction
other than England and Wales agree that the documents which start any
Proceedings in England and any other documents required to be served in
relation to those Proceedings may be served on ABB Limited, at Daresbury Park,
Daresbury, Warrington WA4 4BT, Cheshire, United Kingdom or, if different, its
registered office, with a copy to ABB. If the appointment of the person
mentioned in this sub-clause (e) ceases to be effective, ABB and each
Borrower shall immediately appoint another person in England to accept service
of process on its behalf in England. If ABB or any Borrower fails to do so (and
such failure continues for a period of not less than fourteen days), the
Facility Agent shall be entitled to appoint such a person by notice to ABB or
the relevant Borrower (as the case may be). Nothing contained herein shall
restrict the right to serve process in any other manner allowed by law.

 

THIS AGREEMENT has been entered into on the
date stated at the beginning of this Agreement.

 

94

 

SCHEDULE 1

 

Part I

The Original Lenders

 

	
  Name

  	
   

  	
  Commitment ($)

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  ABN AMRO Bank N.V., Niederlassung Deutschland

  	
   

  	
  69,000,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Banc of America Securities Limited

  	
   

  	
  69,000,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Banco Santander, S.A.

  	
   

  	
  69,000,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Bank of China Limited, London Branch

  	
   

  	
  44,000,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Bank of China (UK) Limited

  	
   

  	
  25,000,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Barclays Bank PLC

  	
   

  	
  69,000,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  BBVA Ireland plc

  	
   

  	
  69,000,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  BNP Paribas

  	
   

  	
  69,000,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Citibank, N.A., London Branch/Citibank
  International plc /Citibank, N.A.

  	
   

  	
  69,000,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Commerzbank Aktiengesellschaft, Filiale Luxemburg

  	
   

  	
  69,000,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Crédit Agricole (Suisse) SA

  	
   

  	
  69,000,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Credit Suisse

  	
   

  	
  69,000,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Deutsche Bank Luxembourg S.A.

  	
   

  	
  69,000,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  DnB Nor Bank ASA

  	
   

  	
  69,000,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Goldman Sachs Bank USA

  	
   

  	
  69,000,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  HSBC Bank plc

  	
   

  	
  69,000,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  ICBC (London) Limited

  	
   

  	
  45,000,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Industrial and Commercial Bank of China Limited Beijing
  Xuanwu Sub-Branch

  	
   

  	
  24,000,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  ING Bank N.V. Dublin Branch

  	
   

  	
  69,000,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Intesa Sanpaolo SpA

  	
   

  	
  69,000,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  J.P.Morgan Europe Limited, London

  	
   

  	
  69,000,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Morgan Stanley Bank, N.A.

  	
   

  	
  69,000,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Nomura Bank International plc

  	
   

  	
  69,000,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Nordea Bank AB (publ)

  	
   

  	
  69,000,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Skandinaviska Enskilda Banken AB (publ)

  	
   

  	
  69,000,000

  	
   

  

 

95

 

	
  Name

  	
   

  	
  Commitment ($)

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Societe Generale

  	
   

  	
  69,000,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Standard Chartered Bank

  	
   

  	
  68,000,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Svenska Handelsbanken AB (publ)

  	
   

  	
  69,000,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  UBS AG

  	
   

  	
  69,000,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  UniCredit Luxembourg S.A.

  	
   

  	
  69,000,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Zürcher Kantonalbank

  	
   

  	
  69,000,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Total

  	
   

  	
  2,000,000,000

  	
   

  

 

96

 

Part II

The Dollar Swingline Lenders

 

	
  Name

  	
   

  	
  Dollar Swingline Commitment ($)

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  ABN AMRO Bank N.V., Niederlassung Deutschland

  	
   

  	
  31,250,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Banco Santander, S.A., New York Branch

  	
   

  	
  31,250,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Bank of America N.A.

  	
   

  	
  31,250,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Barclays Bank PLC

  	
   

  	
  31,250,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Bayerische Hypo und Vereinsbank AG, NY Branch

  	
   

  	
  31,250,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  BBVA Ireland plc

  	
   

  	
  31,250,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  BNP Paribas

  	
   

  	
  31,250,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Citibank, N.A.

  	
   

  	
  31,250,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Commerzbank Aktiengesellschaft, Filiale Luxemburg

  	
   

  	
  31,250,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Crédit Agricole (Suisse) SA

  	
   

  	
  31,250,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Credit Suisse, Cayman Islands Branch

  	
   

  	
  31,250,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Deutsche Bank Luxembourg S.A.

  	
   

  	
  31,250,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  DnB Nor Bank ASA

  	
   

  	
  31,250,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Goldman Sachs Bank USA

  	
   

  	
  31,250,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  HSBC Bank plc

  	
   

  	
  31,250,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  ING Bank N.V. Dublin Branch

  	
   

  	
  31,250,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  JPMorgan Chase Bank, N.A.

  	
   

  	
  31,250,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Morgan Stanley Bank, N.A.

  	
   

  	
  31,250,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Nordea Bank AB (publ)

  	
   

  	
  31,250,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Skandinaviska Enskilda Banken AB (publ)

  	
   

  	
  31,250,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Societe Generale, New York Branch

  	
   

  	
  31,250,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Standard Chartered Bank

  	
   

  	
  31,250,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Svenska Handelsbanken AB (publ), New York Branch

  	
   

  	
  31,250,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  UBS AG, Stamford Branch

  	
   

  	
  31,250,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Total

  	
   

  	
  750,000,000

  	
   

  

 

97

 

Part III

The Euro Swingline Lenders

 

	
  Name

  	
   

  	
  Euro Swingline Commitment ($)

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  ABN AMRO Bank N.V., Niederlassung Deutschland

  	
   

  	
  30,000,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Banc of America Securities Limited

  	
   

  	
  30,000,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Banco Santander, S.A.

  	
   

  	
  30,000,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Barclays Bank PLC

  	
   

  	
  30,000,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  BBVA Ireland plc

  	
   

  	
  30,000,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  BNP Paribas

  	
   

  	
  30,000,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Citibank, N.A., London Branch

  	
   

  	
  30,000,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Commerzbank Aktiengesellschaft, Filiale Luxemburg

  	
   

  	
  30,000,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Crédit Agricole (Suisse) SA

  	
   

  	
  30,000,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Credit Suisse

  	
   

  	
  30,000,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Deutsche Bank Luxembourg S.A.

  	
   

  	
  30,000,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  DnB NOR Bank ASA

  	
   

  	
  30,000,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Goldman Sachs Bank USA

  	
   

  	
  30,000,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  HSBC Bank plc

  	
   

  	
  30,000,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  ING Bank N.V. Dublin Branch

  	
   

  	
  30,000,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Intesa Sanpaolo SpA

  	
   

  	
  30,000,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  J.P.Morgan Europe Limited, London

  	
   

  	
  30,000,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Morgan Stanley Bank, N.A.

  	
   

  	
  30,000,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Nordea Bank AB (publ)

  	
   

  	
  30,000,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Skandinaviska Enskilda Banken AB (publ)

  	
   

  	
  30,000,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Societe Generale

  	
   

  	
  30,000,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Standard Chartered Bank

  	
   

  	
  30,000,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Svenska Handelsbanken AB (publ)

  	
   

  	
  30,000,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  UBS AG

  	
   

  	
  30,000,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  UniCredit Luxembourg S.A.

  	
   

  	
  30,000,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Total

  	
   

  	
  750,000,000

  	
   

  

 

98

 

Part IV

The SEK Swingline Lenders

 

	
  Name

  	
   

  	
  SEK Swingline Commitment ($)

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Nordea Bank AB (publ)

  	
   

  	
  67,000,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Skandinaviska Enskilda Banken AB (publ)

  	
   

  	
  66,500,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Svenska Handelsbanken AB (publ)

  	
   

  	
  66,500,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Total

  	
   

  	
  200,000,000

  	
   

  

 

99

 

Part V

The Original Obligors

 

	
  Name of Original

  Borrower

  	
   

  	
  Address

  	
   

  	
  Jurisdiction of

  incorporation

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  ABB
  Capital B.V.

  	
   

  	
  Burgemeester
  Haspelslaan 65, 5/F

  	
   

  	
  Netherlands

  
	
   

  	
   

  	
  PO
  Box 74690

  	
   

  	
   

  
	
   

  	
   

  	
  Amstelveen

  	
   

  	
   

  
	
   

  	
   

  	
  NL-1181
  NB

  	
   

  	
   

  
	
   

  	
   

  	
  Netherlands

  	
   

  	
   

  
	
   

  	
   

  	
  Attention:

  	
  Managing
  Director

  	
   

  	
   

  
	
   

  	
   

  	
  Fax:

  	
  +
  31 20 445 9844

  	
   

  	
   

  
	
   

  	
   

  	
  Copy:

  	
  Legal
  Department

  	
   

  	
   

  
	
   

  	
   

  	
  Fax:

  	
  +
  41 43 317 7992

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  ABB
  Treasury Center

  	
   

  	
  501
  Merritt 7

  	
   

  	
  Delaware,
  United

  
	
  (USA), Inc.

  	
   

  	
  P.O. Box
  5308

  	
   

  	
  States
  of America

  
	
   

  	
   

  	
  Norwalk,
  CT 06856

  	
   

  	
   

  
	
   

  	
   

  	
  U.S.A.

  	
   

  	
   

  
	
   

  	
   

  	
  Attention:

  	
  President

  	
   

  	
   

  
	
   

  	
   

  	
  Fax:

  	
  +1
  203 750 24 36

  	
   

  	
   

  
	
   

  	
   

  	
  Copy:

  	
  Legal
  Department

  	
   

  	
   

  
	
   

  	
   

  	
  Fax:

  	
  +
  41 43 317 7992

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  ABB
  Financial Services

  	
   

  	
  Norra
  Malmvägen 143

  	
   

  	
  Sweden

  
	
  AB

  	
   

  	
  SE-191
  85 Sollentuna

  	
   

  	
   

  
	
   

  	
   

  	
  Sweden

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Attention:

  	
  Country
  Treasurer

  	
   

  	
   

  
	
   

  	
   

  	
  Fax:

  	
  +46
  21 34 89 50

  	
   

  	
   

  
	
   

  	
   

  	
  Copy:

  	
  Legal
  Department

  	
   

  	
   

  
	
   

  	
   

  	
  Fax:

  	
  +
  41 43 317 7992

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Name of Guarantor

  	
   

  	
  Address

  	
   

  	
  Jurisdiction of

  incorporation

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  ABB
  Ltd

  	
   

  	
  Affolternstrasse
  44

  	
   

  	
  Switzerland

  
	
   

  	
   

  	
  CH-8050
  Zurich

  	
   

  	
   

  
	
   

  	
   

  	
  Switzerland

  	
   

  	
   

  
	
   

  	
   

  	
  Attention:

  	
  Group
  Treasurer

  	
   

  	
   

  
	
   

  	
   

  	
  Fax:

  	
  +41
  43 317 3999

  	
   

  	
   

  
	
   

  	
   

  	
  Copy:

  	
  Legal
  Department

  	
   

  	
   

  
	
   

  	
   

  	
  Fax:

  	
  +41
  43 317 7992

  	
   

  	
   

  

 

100

 

SCHEDULE 2

CONDITIONS PRECEDENT

 

Part I

Conditions Precedent

 

1.                                       Corporate Documents

 

(a)                                  A copy of the
constitutional documents of each Obligor.

 

(b)                                 A copy of a
resolution of the board of directors of each Obligor (if applicable) or, in the
case of ABB Capital B.V., a copy of a resolution of the board of managing
directors (directie) or, in the
case of ABB, a copy of an excerpt of the minutes of, or a circular resolution
of, a meeting of the board of directors of ABB:

 

(i)                                     approving the
terms of, and the transactions contemplated by, the Finance Documents to which
it is a party and resolving that it execute the Finance Documents to which it
is a party;

 

(ii)                                  (other than in
relation to ABB) authorising a specified person or persons to execute the
Finance Documents to which it is a party on its behalf; and

 

(iii)                               authorising a
specified person or persons, on its behalf, to sign and/or despatch all
documents and notices (including, if relevant, any Utilisation Request) to be
signed and/or despatched by it under or in connection with the Finance
Documents to which it is a party.

 

(c)                                  A copy of a shareholders
resolution of ABB Capital B.V.

 

(d)                                 A specimen of
the signature of each person authorised by the resolution referred to in
paragraph (b) above.

 

(e)                                  A certificate
of each Obligor (signed without personal liability by an authorised signatory
of each Obligor) confirming that borrowing or guaranteeing, as appropriate, the
Total Commitments would not cause any borrowing, guaranteeing or similar limit
binding on that relevant Obligor to be exceeded.

 

(f)                                    A copy of a
good standing certificate (including verification of tax status) with respect
to ABB Treasury Center (USA), Inc., issued as of a recent date by the
Secretary of State or other appropriate official of its jurisdiction of
incorporation.

 

(g)                                 A certificate
of an authorised signatory of the relevant Obligor, certifying without personal
liability that each copy document relating to it specified in paragraph 1(a) -
(e) of this Schedule 2 is correct, complete and in full force and effect
as at a date no earlier than the date of this Agreement.

 

2.             Legal
opinions

 

(a)                                  A legal opinion
of Clifford Chance LLP, legal advisers to the Mandated Lead Arrangers and the
Agents in England, substantially in the form distributed to the Original
Lenders prior to signing this Agreement.

 

101

 

(b)                                 A legal opinion
of Clifford Chance LLP, Amsterdam, legal advisers to the Mandated Lead Arranger
and the Agents in the Netherlands in the form approved by the Facility Agent.

 

(c)                                  A legal opinion
of Freshfields Bruckhaus Deringer US LLP, United States legal advisers to ABB
Treasury Center (USA), Inc. in the form approved by the Facility Agent.

 

(d)                                 A legal opinion
of Lalive, legal advisers to the Mandated Lead Arrangers and the Agents in
Switzerland in the form approved by the Facility Agent.

 

(e)                                  A legal opinion
of Advokatfirman Vinge, legal advisers to the Mandated Lead Arrangers and the
Agents in Sweden in the form approved by the Facility Agent.

 

3.                                       Other documents and evidence

 

(a)                                  Evidence that
the process agent referred to in sub-clause (e) of Clause 37.1 (Jurisdiction) has accepted its
appointment.

 

(b)                                 Repayment and
cancellation in full of the Existing Credit Facility.

 

(c)                                  The Original
Financial Statements of each Obligor.

 

(d)                                 Evidence that
the fees, costs and expenses then due from ABB pursuant to Clause 12 (Fees) and Clause 17 (Costs and expenses) have been paid or will
be paid by the first Utilisation Date.

 

Part II

Additional Borrower Conditions Precedent

 

1.                                       A Borrower
Accession Letter, duly executed by the Additional Borrower and ABB.

 

2.                                       A copy of the
constitutional documents of the Additional Borrower.

 

3.                                       A copy of a
resolution of the board of directors, or other suitable authority, of the
Additional Borrower:

 

(a)                                  approving the
terms of, and the transactions contemplated by, the Borrower Accession Letter
and the Finance Documents and resolving that it execute the Borrower Accession
Letter;

 

(b)                                 authorising a
specified person or persons to execute the Borrower Accession Letter on its
behalf; and

 

(c)                                  authorising a specified
person or persons, on its behalf, to sign and/or despatch all other documents
and notices (including any Utilisation Request) to be signed and/or despatched
by it under or in connection with the Finance Documents.

 

4.                                       If required
under applicable law, a copy of a resolution of the Additional Borrower stating
that the shareholders resolve and approve the entering into, and the terms and
conditions of, this Agreement.

 

5.                                       A specimen of
the signature of each person authorised by the resolution referred to in
paragraph 3 above.

 

102

 

6.                                       A certificate
of the Additional Borrower (signed by two duly authorised signatories)
confirming that borrowing the Total Commitments would not cause any borrowing
limit binding on it to be exceeded.

 

7.                                       A copy of a
good standing certificate (including verification of tax status) with respect
to any Additional Borrower whose jurisdiction of incorporation is a state of
the United States of America or the District of Columbia, issued as of a recent
date by the Secretary of State or other appropriate official of such Additional
Borrower’s jurisdiction of incorporation or organisation.

 

8.                                       A certificate
of an authorised signatory of the Additional Borrower certifying that each copy
document listed in this Schedule 2 is correct, complete and in full force and
effect as at a date no earlier than the date of the Borrower Accession Letter.

 

9.                                       A copy of any
other Authorisation or other document, opinion or assurance which the Facility
Agent reasonably considers to be necessary in connection with the entry into
and performance of the transactions contemplated by the Borrower Accession
Letter or for the validity and enforceability of any Finance Document.

 

10.                                 If available,
the latest audited financial statements of the Additional Borrower.

 

11.                                 A legal opinion
of Clifford Chance LLP, legal advisers to the Mandated Lead Arrangers and the
Facility Agent in England.

 

12.                                 If the
Additional Borrower is incorporated in a jurisdiction other than England and
Wales, a legal opinion of the legal advisers to the Mandated Lead Arrangers and
the Facility Agent in the jurisdiction in which the Additional Borrower is
incorporated.

 

13.                                 If the proposed
Additional Borrower is incorporated in a jurisdiction other than England and
Wales, evidence that the process agent specified in sub-clause (e) of
Clause 37.1 (Jurisdiction), if
not a Borrower, has accepted its appointment in relation to the proposed
Additional Borrower.

 

103

 

SCHEDULE 3

 

UTILISATION REQUEST

 

	
  From:

  	
  [Name of Borrower]

  
	
   

  	
   

  
	
  To:

  	
  [Agent]

  
	
   

  	
   

  
	
  Copied to:

  	
  [Facility Agent]*

  

 

 

Dated:                 [·]

 

Dear Sirs

 

ABB Ltd - $2,000,000,000 Multicurrency Revolving
Credit Agreement

dated [ · ] (the “Credit Agreement”)

 

Words and expressions
defined in the Credit Agreement have the same meaning when used herein.

 

We wish to borrow
a(n) [Advance/Dollar Swingline Advance/Euro Swingline Advance/SEK Swingline
Advance] on the following terms:

 

	
  Proposed
  Utilisation Date:

  	
  [ · ] (or, if that
  is not a Business Day, the next Business Day)

  
	
   

  	
   

  
	
  Currency of Advance:

  	
  [ · ]

  
	
   

  	
   

  
	
  Amount: (1)

  	
  [ · ]

  
	
   

  	
   

  
	
  Interest Period:

  	
  [ · ]

  

 

 

We confirm that each
condition specified in Clause 4.2 (Further
conditions precedent) is satisfied on the date of this Utilisation Request.

 

The proceeds of this Advance
should be credited to [account].

 

This Utilisation Request is
irrevocable.

 

	
  Yours faithfully

  	
   

  
	
   

  	
   

  
	
   

  	
   

  

 

(1)           [WARNING
NOTE: PLEASE ENSURE THAT THE SHARE OF EACH LENDER IN ANY ADVANCE
TO
A DUTCH BORROWER IS AT LEAST EUR50,000 (OR ITS EQUIVALENT IN ANOTHER CURRENCY).
OTHERWISE, ANY LENDER THAT PARTICIPATES IN A SMALLER AMOUNT SHOULD CONFIRM THAT
IT IS A PROFESSIONAL MARKET PARTY WITHIN THE MEANING OF THE DUTCH FINANCIAL
SUPERVISION ACT (Wet op het financieel toezicht).]

 

104

 

authorised signatory for

 

[Name of Borrower]

 

105

 

SCHEDULE 4

 

FORM OF TRANSFER CERTIFICATE

 

To:                          [ · ] as Facility Agent

 

From:                      [Existing Lender] (the “Existing Lender”) and [New Lender] (the “New Lender”)

 

Dated:

 

ABB Ltd - $2,000,000,000 Multicurrency Revolving
Credit Agreement

dated [ · ] (the “Credit Agreement”)

 

Words and expressions
defined in the Credit Agreement have the same meaning when used herein.

 

We refer to Clause 23.5 (Procedure for transfer) of the Credit
Agreement:

 

(a)                                       The Existing Lender and the New Lender agree
to the Existing Lender and the New Lender transferring by novation all or part
of the Existing Lender’s [Commitment/Swingline Commitment], rights and
obligations referred to in the Schedule in accordance with Clause 23.5 (Procedure for transfer).

 

(b)                                      The proposed Transfer Date is [·].

 

(c)                                       The Facility Office and address, fax number
and attention details for notices of the New Lender for the purposes of Clause
30.2 (Addresses) are set out in the Schedule.

 

The New Lender confirms, for
the benefit of the Facility Agent and without liability to any Obligor, that it
is [a Qualifying Lender falling within paragraph[s] [·] of the definition of Qualifying
Lender]/[not a Qualifying Lender].

 

The New Lender expressly
acknowledges the limitations on the Existing Lender’s obligations set out in
paragraph (c) of Clause 23.4 (Limitation
of responsibility of Existing Lenders).

 

This Transfer Certificate
and any non-contractual obligations arising out of or in connection with it are
governed by English law.

 

106

 

THE SCHEDULE

 

Commitment/Swingline Commitment/rights and obligations to be
transferred

[insert relevant details of Commitment,
Dollar Swingline Commitment, Euro Swingline

Commitment and/or SEK Swingline Commitment]

 

[Facility Office address, fax number
and attention details for notices and account details for

payments]

 

	
  [Existing Lender]

  	
   

  	
  [New Lender]

  
	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
  By:

  

 

This Transfer Certificate is
accepted by the Facility Agent and the Transfer Date is confirmed as [·].

 

[Facility Agent]

 

By:

 

107

 

SCHEDULE 5

 

TIMETABLES

 

	
   

  	
   

  	
  Advances in

  Euro

  	
   

  	
  Advances in

  Dollars

  	
   

  	
  Advances in

  SEK

  	
   

  	
  Advances in

  other

  currencies

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Delivery of a duly
  completed Utilisation Request (Clause 5.1 (Delivery
  of a Utilisation Request)

  	
   

  	
  10 a.m. London time, 3
  Business Days prior to the proposed Utilisation Date

  	
   

  	
  11 a.m. London time, 3
  Business Days prior to the proposed Utilisation Date

  	
   

  	
  11 a.m. London time, 3
  Business Days prior to the proposed Utilisation Date

  	
   

  	
  11 a.m. London time, 3
  Business Days prior to the proposed Utilisation Date

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Facility Agent determines
  (in relation to a Utilisation) the Base Currency Amount of the Advance, if
  required under Clause 5.4 (Lenders'
  participation)

  	
   

  	
  11 a.m. London time, 3
  Business Days prior to the proposed Utilisation Date

  	
   

  	
  N/A

  	
   

  	
  11 a.m. London time, 3
  Business Day prior to the proposed Utilisation Date

  	
   

  	
  11 a.m. London time, 3
  Business Days prior to the proposed Utilisation Date

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Facility Agent notifies
  the Lenders of the Advance in accordance with Clause 5.4 (Lenders' participation)

  	
   

  	
  Promptly upon receipt from
  the relevant Borrower

  	
   

  	
  Promptly upon receipt from
  the relevant Borrower

  	
   

  	
  Promptly upon receipt from
  the relevant Borrower

  	
   

  	
  Promptly upon receipt from
  the relevant Borrower

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Delivery of a duly
  completed Utilisation Request (Clause 5.5 (Delivery
  of a Utilisation Request for a Swingline Advance))

  	
   

  	
  9.30 a.m. London time on
  the proposed Utilisation Date

  	
   

  	
  11 a.m. New York time on
  the proposed Utilisation Date

  	
   

  	
  10.00 a.m. Stockholm time
  on the proposed Utilisation Date

  	
   

  	
  N/A

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Swingline Agent notifies
  each Swingline Lender of the amount, currency and the

  	
   

  	
  Promptly upon receipt from
  the relevant Borrower

  	
   

  	
  Promptly upon receipt from
  the relevant Borrower

  	
   

  	
  Promptly upon receipt from
  the relevant Borrower

  	
   

  	
  N/A

  

 

108

 

	
   

  	
   

  	
  Advances
  in

  Euro

  	
   

  	
  Advances
  in

  Dollars

  	
   

  	
  Advances
  in

  SEK

  	
   

  	
  Advances
  in

  other

  currencies

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Base Currency Amount of
  each Swingline Advance (paragraph (c) of Clause 5.8 (Swingline Lenders' Participation))

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Facility Agent receives a
  notification from a Lender under Clause 6.2 (Unavailability
  of a currency)

  	
   

  	
  N/A

  	
   

  	
  N/A

  	
   

  	
  N/A

  	
   

  	
  Quotation Day as of 9 a.m.
  London time

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Facility Agent gives
  notice in accordance with Clause 6.2 (Unavailability
  of a currency)

  	
   

  	
  N/A

  	
   

  	
  N/A

  	
   

  	
  N/A

  	
   

  	
  Upon receipt of
  notification from the Lenders

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  LIBOR or EURIBOR or STIBOR
  is fixed

  	
   

  	
  Quotation Day as of 11.00
  a.m. Brussels time

  	
   

  	
  Quotation Day as of 11.00
  a.m. London time

  	
   

  	
  Quotation Day as of 11.00
  a.m. Stockholm time

  	
   

  	
  Quotation Day as of 11. 00
  a.m. London time

  

 

109

 

SCHEDULE 6

 

FORM OF BORROWER ACCESSION LETTER

 

To:                          [·] as Facility Agent

 

From:                      [Subsidiary] and ABB Ltd

 

Dated: [·]

 

Dear Sirs

 

ABB Ltd - $2,000,000,000 Multicurrency Revolving
Credit Agreement

dated [ · ] (the “Credit Agreement”)

 

We refer to the Credit
Agreement. This is a Borrower Accession Letter. Terms defined in the Credit
Agreement have the same meaning in this Borrower Accession Letter unless given
a different meaning in this Borrower Accession Letter.

 

[Subsidiary] agrees to
become an Additional Borrower and to be bound by the terms of the Credit Agreement
as an Additional Borrower pursuant to Clause 24.2 (Additional Borrowers) of the Credit Agreement.

 

[Subsidiary] is a company
duly incorporated under the laws of [name of relevant jurisdiction].

 

[Subsidiary] is a wholly
owned Subsidiary of ABB Ltd.

 

[Subsidiary’s]
administrative details are as follows:

 

Address:

 

Fax
No:

 

Attention:

 

This Borrower Accession
Letter and any non-contractual obligations arising out of or in connection with
it are governed by English law.

 

	
  ABB Ltd

  	
   

  	
  [Subsidiary]

  
	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
  By:

  

 

110

 

 

SCHEDULE 7

 

FORM OF RESIGNATION
LETTER

 

To:                          [·] as Facility Agent

 

From:                      [resigning Borrower] and
ABB Ltd

 

Dated: [·]

 

Dear
Sirs

 

ABB Ltd - $2,000,000,000
Multicurrency Revolving Credit Agreement

dated [ · ] (the “Credit Agreement”)

 

We
refer to the Credit Agreement. This is a Resignation Letter. Terms defined in
the Credit Agreement have the same meaning in this Resignation Letter unless
given a different meaning in this Resignation Letter.

 

Pursuant
to Clause 24.3 (Resignation of a Borrower),
we request that [resigning Borrower] be released from its obligations as a
Borrower under the Credit Agreement.

 

We
confirm that:

 

(a)                                  no Default
would result from the acceptance of this request; and

 

(b)                                 [resigning
Borrower] is under no actual or contingent liability under the Credit
Agreement.

 

This
Resignation Letter and any non-contractual obligations arising out of or in
connection with it are governed by English law.

 

	
  ABB
  Ltd

  	
   

  	
  [Subsidiary]

  
	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
  By:

  

 

111

 

SCHEDULE 8

 

MANDATORY COST

 

1.               The Mandatory Cost is an
addition to the interest rate to compensate Lenders for the cost of compliance
with (a) the requirements of the Bank of England and/or the Financial
Services Authority (or, in either case, any other authority which replaces all
or any of its functions) or (b) the requirements of the European Central
Bank.

 

2.               On the first day of each
Interest Period (or as soon as possible thereafter) the Facility Agent shall
calculate, as a percentage rate, a rate (the “Additional
Cost Rate”) for each Lender, in accordance with the paragraphs set
out below. The Mandatory Cost will be calculated by the Facility Agent as a
weighted average of the Lenders’ Additional Cost Rates (weighted in proportion
to the percentage participation of each Lender in the relevant Advance) and
will be expressed as a percentage rate per annum.

 

3.               The Additional Cost Rate for
any Lender lending from a Facility Office in a Participating Member State will
be the percentage notified by that Lender to the Facility Agent. This
percentage will be certified by that Lender in its notice to the Facility Agent
to be its reasonable determination of the cost (expressed as a percentage of
that Lender’s participation in all Advances made from that Facility Office) of
complying with the minimum reserve requirements of the European Central Bank in
respect of advances made from that Facility Office.

 

4.               The Additional Cost Rate for
any Lender lending from a Facility Office in the United Kingdom will be calculated
by the Facility Agent as follows:

 

(a)           in relation to a
sterling Advance: 

 

	
  

  	
  per
  cent. per annum

  

 

(b)           in relation to an
Advance in any currency other than sterling:

 

	
  

  	
  per
  cent. per annum.

  

 

Where:

 

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

 

B                                        is the
percentage rate of interest (excluding the Margin and the Mandatory Cost and,
if the Advance is an Unpaid Sum, the additional rate of interest specified in
paragraph (a) of Clause 9.3 (Default
interest)) payable for the relevant Interest Period on the Advance.

 

112

 

C                                        is the
percentage (if any) of Eligible Liabilities which that Lender is required from
time to time to maintain as interest bearing Special Deposits with the Bank of
England.

 

D                                       is the
percentage rate per annum payable by the Bank of England to the Facility Agent
on interest bearing Special Deposits.

 

E                                         is designed to
compensate Lenders for amounts payable under the Fees Rules and is calculated
by the Facility Agent as being the average of the most recent rates of charge
supplied by the Reference Banks to the Facility Agent pursuant to paragraph 7
below and expressed in pounds per £1,000,000.

 

5.               For the purposes of this
Schedule:

 

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

 

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

 

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

 

(d)                                           “Tariff Base” has the meaning given to it
in, and will be calculated in accordance with, the Fees Rules.

 

6.               In application of the above
formulae, A, B, C and D will be included in the formulae as percentages (i.e. 5
per cent. will be included in the formula as 5 and not as 0.05). A negative
result obtained by subtracting D from B shall be taken as zero. The resulting
figures shall be rounded to four decimal places.

 

7.               If requested by the Facility
Agent, each Reference Bank shall, as soon as practicable after publication by
the Financial Services Authority, supply to the Facility Agent, the rate of
charge payable by that Reference Bank to the Financial Services Authority
pursuant to the Fees Rules in respect of the relevant financial year of
the Financial Services Authority (calculated for this purpose by that Reference
Bank as being the average of the Fee Tariffs applicable to that Reference Bank
for that financial year) and expressed in pounds per £1,000,000 of the Tariff
Base of that Reference Bank.

 

8.               Each Lender shall supply any
information required by the Facility Agent for the purpose of calculating its
Additional Cost Rate. In particular, but without limitation, each Lender shall
supply the following information on or prior to the date on which it becomes a
Lender:

 

113

 

(a)                                       the
jurisdiction of its Facility Office; and

 

(b)                                      any other
information that the Facility Agent may reasonably require for such purpose.

 

Each Lender shall promptly notify the Facility Agent of any change to
the information provided by it pursuant to this paragraph.

 

9.               The percentages of each
Lender for the purpose of A and C above and the rates of charge of each
Reference Bank for the purpose of E above shall be determined by the Facility
Agent based upon the information supplied to it pursuant to paragraphs 7 and 8
above and on the assumption that, unless a Lender notifies the Facility Agent
to the contrary, each Lender’s obligations in relation to cash ratio deposits
and Special Deposits are the same as those of a typical bank from its
jurisdiction of incorporation with a Facility Office in the same jurisdiction
as its Facility Office.

 

10.         The Facility Agent shall
have no liability to any person if such determination results in an Additional
Cost Rate which over or under compensates any Lender and shall be entitled to
assume that the information provided by any Lender or Reference Bank pursuant
to paragraphs 3, 7 and 8 above is true and correct in all respects.

 

11.         The Facility Agent shall
distribute the additional amounts received as a result of the Mandatory Cost to
the Lenders on the basis of the Additional Cost Rate for each Lender based on
the information provided by each Lender and each Reference Bank pursuant to
paragraphs 3, 7 and 8 above.

 

12.         Any determination by the
Facility Agent pursuant to this Schedule in relation to a formula, the
Mandatory Cost, an Additional Cost Rate or any amount payable to a Lender
shall, in the absence of manifest error, be conclusive and binding on all
Parties.

 

13.         The Facility Agent may from
time to time, after consultation with ABB and the Lenders, determine and notify
to all Parties any amendments which are required to be made to this Schedule in
order to comply with any change in law, regulation or any requirements from
time to time imposed by the Bank of England, the Financial Services Authority
or the European Central Bank (or, in any case, any other authority which
replaces all or any of its functions) and any such determination shall, in the
absence of manifest error, be conclusive and binding on all Parties.

 

114

 

SCHEDULE 9

 

MATERIAL SUBSIDIARIES

 

	
  Company Name

  	
   

  	
  Jurisdiction

  	
   

  	
  ABB Interest

  (%)

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  ABB
  Finance B.V.

  	
   

  	
  Netherlands

  	
   

  	
  100

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  ABB
  Capital B.V.

  	
   

  	
  Netherlands

  	
   

  	
  100

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  ABB
  International Finance Limited

  	
   

  	
  Guernsey

  	
   

  	
  100

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  ABB
  Holdings Inc.

  	
   

  	
  United States

  	
   

  	
  100

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  ABB
  Beteiligungs- und Verwaltungsges. mbH 

  	
   

  	
  Germany 

  	
   

  	
  100 

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  ABB
  S.p.A.

  	
   

  	
  Italy

  	
   

  	
  100

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  ABB
  Schweiz AG

  	
   

  	
  Switzerland

  	
   

  	
  100

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  ABB
  (China) Ltd

  	
   

  	
  China

  	
   

  	
  100

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  ABB
  Inc.

  	
   

  	
  United States

  	
   

  	
  100

  

 

115

 

SCHEDULE 10

 

FORM OF INCREASE
CONFIRMATION

 

To:
[ ] as Facility Agent, and ABB Ltd, for and on behalf of each Obligor

 

From:
[the Increase Lender] (the “Increase Lender”)

 

Dated:

 

ABB Ltd - $2,000,000,000
Multicurrency Revolving Credit Agreement

dated [ · ] (the “Credit Agreement”)

 

We
refer to the Credit Agreement. This is an Increase Confirmation. Terms defined
in the Credit Agreement have the same meaning in this Increase Confirmation
unless given a different meaning in this Increase Confirmation.

 

We
refer to Clause 2.2 (Increase).

 

The
Increase Lender agrees to assume and will assume all of the obligations
corresponding to the [Commitment/Swingline Commitment] specified in the
Schedule (the “Relevant Commitment”)
as if it were an Original Lender under the Credit Agreement.

 

The
proposed date on which the increase in relation to the Increase Lender and the
Relevant Commitment is to take effect (the “Increase
Date”) is [ ].

 

On
the Increase Date, the Increase Lender becomes party to the Finance Documents
as a Lender.

 

The
Facility Office and address, fax number and attention details for notices to
the Increase Lender for the purposes of Clause 30.2 (Addresses) are set out in the Schedule.

 

The
Increase Lender confirms, for the benefit of the Facility Agent and without
liability to any Obligor, that it is [a Qualifying Lender falling within
paragraph[s] [·] of the
definition of Qualifying Lender]/[not a Qualifying Lender].

 

The
Increase Lender expressly acknowledges the limitations on the Lenders’
obligations referred to in paragraph (g) of Clause 2.2 (Increase).

 

This
Increase Confirmation may be executed in any number of counterparts and this
has the same effect as if the signatures on the counterparts were on a single
copy of this Increase Confirmation.

 

This
Increase Confirmation and any non-contractual obligations arising out of or in
connection with it are governed by English law.

 

This
Credit Agreement has been entered into on the date stated at the beginning of
this Credit Agreement.

 

116

 

THE SCHEDULE

 

Relevant Commitment/rights
and obligations to be assumed by the Increase Lender

 

[insert
relevant details of Commitment, Dollar Swingline Commitment, Euro Swingline

Commitment and/or SEK Swingline Commitment]

 

[Facility
office address, fax number and attention details for notices and account
details

for payments]

 

[Increase Lender]

 

By:

 

This Increase Confirmation is accepted as an Increase Confirmation for
the purposes of the Credit Agreement by the Facility Agent and the Increase
Date is confirmed as [ ].

 

 

Facility Agent

By:

 

117

 

SIGNATURES

 

	
  The Guarantor

  
	
   

  
	
  ABB LTD

  
	
   

  	
   

  
	
  By:

  	
  MICHEL DEMARÉ

  
	
   

  	
   

  
	
  By:

  	
  RICHARD A. BROWN

  
	
   

  	
   

  
	
   

  	
   

  
	
  The Original Borrowers 

  
	
   

  
	
  ABB CAPITAL B.V.

  
	
   

  	
   

  
	
  By:

  	
  BRIAN VAN REIJN

  
	
   

  	
   

  
	
  By:

  	
  URS ARNOLD

  
	
   

  	
   

  
	
   

  	
   

  
	
  ABB TREASURY CENTER (USA), INC. 

  
	
   

  	
   

  
	
  By:

  	
  DANIEL HAGMANN

  
	
   

  	
   

  
	
  By:

  	
  GEORGE IRVING

  
	
   

  	
   

  
	
   

  	
   

  
	
  ABB FINANCIAL SERVICES AB

  
	
   

  	
   

  
	
  By:

  	
  LARS-JOHAN MALMSTRÖM

  
	
   

  	
   

  
	
  By:

  	
  MAGNUS ÖRNBERG

  

 

118

 

	
  The Mandated Lead Arrangers

  
	
   

  	
   

  
	
  BANCO BILBAO VIZCAYA ARGENTARIA,
  S.A.

  
	
   

  	
   

  
	
  By:

  	
  NATALIA GONZALEZ

  
	
   

  	
   

  
	
  By:

  	
  MIGUEL CASTILLO

  
	
   

  	
   

  
	
   

  	
   

  
	
  BANC OF AMERICA SECURITIES
  LIMITED

  
	
   

  	
   

  
	
  By:

  	
  MATTHEW ROPER

  
	
   

  	
   

  
	
   

  	
   

  
	
  BANCO SANTANDER, S.A.

  
	
   

  	
   

  
	
  By:

  	
  MARCO ANTONIO ACHÓN

  
	
   

  	
   

  
	
  By:

  	
  PABLO URGOITI

  
	
   

  	
   

  
	
   

  	
   

  
	
  BANK OF CHINA LIMITED, LONDON
  BRANCH

  
	
   

  	
   

  
	
  By:

  	
  CHUANG-FEI LI

  
	
   

  	
   

  
	
  By:

  	
  STEPHEN HARDMAN

  
	
   

  	
   

  
	
   

  	
   

  
	
  BANK OF CHINA (UK) LIMITED

  
	
   

  	
   

  
	
  By:

  	
  CHUANG-FEI LI

  
	
   

  	
   

  
	
  By:

  	
  STEPHEN HARDMAN

  
	
   

  	
   

  
	
   

  	
   

  
	
  BARCLAYS CAPITAL

  
	
   

  	
   

  
	
  By:

  	
  CHRIS BROWN

  
	
   

  	
   

  
	
   

  	
   

  
	
  BNP PARIBAS

  
	
   

  	
   

  
	
  By:

  	
  KEVIN MURRAY

  
	
   

  	
   

  
	
  By:

  	
  SUE MINGAY

  

 

119

 

	
  CALYON

  
	
   

  	
   

  
	
  By:

  	
  NATHALIE CHAMBARD

  
	
   

  	
   

  
	
  By:

  	
  STEPHANE LAVOIX

  
	
   

  	
   

  
	
   

  	
   

  
	
  CITIGROUP GLOBAL MARKETS LIMITED

  
	
   

  	
   

  
	
  By:

  	
  RICHARD BASHAM

  
	
   

  	
   

  
	
   

  	
   

  
	
  COMMERZBANK AKTIENGESELLSCHAFT

  
	
   

  	
   

  
	
  By:

  	
  MICAHEL WEINACHT

  
	
   

  	
   

  
	
  By:

  	
  GEORG RAASCH

  
	
   

  	
   

  
	
   

  	
   

  
	
  CREDIT SUISSE

  
	
   

  	
   

  
	
  By:

  	
  GARRETT LYNSKEY

  
	
   

  	
   

  
	
  By:

  	
  SIOBHAN MCGRADY

  
	
   

  	
   

  
	
   

  	
   

  
	
  DEUTSCHE BANK AG

  
	
   

  	
   

  
	
  By:

  	
  MATTHIAS GAAB

  
	
   

  	
   

  
	
  By:

  	
  JUERGEN HORNUNG

  
	
   

  	
   

  
	
   

  	
   

  
	
  DNB NOR BANK ASA

  
	
   

  	
   

  
	
  By:

  	
  CHRISTOPHER WENTWORTH

  
	
   

  	
   

  
	
  By:

  	
  NILS FYKSE

  
	
   

  	
   

  
	
   

  	
   

  
	
  GOLDMAN SACHS INTERNATIONAL

  
	
   

  	
   

  
	
  By:

  	
  RICHARD GOVERS

  

 

120

 

	
  HANDELSBANKEN CAPITAL MARKETS,
  SVENSKA HANDELSBANKEN AB  (PUBL)

  
	
   

  	
   

  
	
  By:

  	
  HOLGER SCHAUMAN

  
	
   

  	
   

  
	
  By:

  	
  MARIE BRYDOLF KERJ

  
	
   

  	
   

  
	
   

  	
   

  
	
  HSBC BANK PLC

  
	
   

  	
   

  
	
  By:

  	
  DAVID STENT

  
	
   

  	
   

  
	
   

  	
   

  
	
  ICBC (LONDON) LIMITED

  
	
   

  	
   

  
	
  By:

  	
  BO JIANG

  
	
   

  	
   

  
	
  By:

  	
  JINGFEN ZHAO

  
	
   

  	
   

  
	
   

  	
   

  
	
  INDUSTRIAL AND COMMERCIAL BANK OF
  CHINA LIMITED

  
	
   

  	
   

  
	
  By:

  	
  BO JIANG (under a power of
  attorney)

  
	
   

  	
   

  
	
   

  	
   

  
	
  ING BANK N.V.

  
	
   

  	
   

  
	
  By:

  	
  MAURICE KENNY

  
	
   

  	
   

  
	
  By:

  	
  ROSEMARY HEALY

  
	
   

  	
   

  
	
   

  	
   

  
	
  INTESA SANPAOLO SPA

  
	
   

  	
   

  
	
  By:

  	
  LAWRENCE WYBRANIEC

  
	
   

  	
   

  
	
  By:

  	
  MARIAN SEXTON

  
	
   

  	
   

  
	
   

  	
   

  
	
  J.P.MORGAN PLC

  
	
   

  	
   

  
	
  By:

  	
  LUDOVIC BLANC

  

 

121

 

	
  MERCHANT BANKING, SKANDINAVISKA
  ENSKILDA BANKEN AB (PUBL)

  
	
   

  	
   

  
	
  By:

  	
  PENNY NEVILLE-PARK

  
	
   

  	
   

  
	
  By:

  	
  DAVID LOCKIE

  
	
   

  	
   

  
	
   

  	
   

  
	
  MORGAN STANLEY BANK, N.A.

  
	
   

  	
   

  
	
  By:

  	
  CHRISTOPHER WHELAN

  
	
   

  	
   

  
	
   

  	
   

  
	
  NOMURA BANK INTERNATIONAL PLC

  
	
   

  	
   

  
	
  By:

  	
  PIERS LE MARCHANT

  
	
   

  	
   

  
	
   

  	
   

  
	
  NORDEA BANK AB (PUBL)

  
	
   

  	
   

  
	
  By:

  	
  LARS KVARNHOLT

  
	
   

  	
   

  
	
  By:

  	
  KARL EKENGER

  
	
   

  	
   

  
	
   

  	
   

  
	
  SOCIETE GENERALE

  
	
   

  	
   

  
	
  By:

  	
  CHRISTIAN GOMEZ

  
	
   

  	
   

  
	
   

  	
   

  
	
  STANDARD CHARTERED BANK

  
	
   

  	
   

  
	
  By:

  	
  SINHA VIVEK

  
	
   

  	
   

  
	
  By:

  	
  GURKAN ENSARI

  
	
   

  	
   

  
	
   

  	
   

  
	
  THE ROYAL BANK OF SCOTLAND PLC

  
	
   

  	
   

  
	
  By:

  	
  JENS RÜBER

  
	
   

  	
   

  
	
   

  	
   

  
	
  UBS AG

  
	
   

  	
   

  
	
  By:

  	
  MARC REINMANN

  
	
   

  	
   

  
	
  By:

  	
  MARTIN ENG

  

 

122

 

	
  UNICREDIT LUXEMBOURG S.A.

  
	
   

  	
   

  
	
  By:

  	
  HOLGER MÖLLER

  
	
   

  	
   

  
	
  By:

  	
  MANFREDI BIANCHI

  
	
   

  	
   

  
	
   

  	
   

  
	
  ZÜRCHER KANTONALBANK

  
	
   

  	
   

  
	
  By:

  	
  YVES HELBLING

  
	
   

  	
   

  
	
  By:

  	
  ARNO
  POLTERA

  

 

123

 

 

	
  The Lenders

  
	
   

  
	
  ABN AMRO BANK N.V., NIEDERLASSUNG
  DEUTSCHLAND

  
	
   

  
	
  By:

  	
  RUDOLF GRUNWALD

  
	
   

  	
   

  
	
  By:

  	
  ANDREAS HEYMANN

  
	
   

  	
   

  
	
   

  	
   

  
	
  BANC OF AMERICA SECURITIES
  LIMITED

  
	
   

  	
   

  
	
  By:

  	
  MATTHEW ROPER

  
	
   

  	
   

  
	
   

  	
   

  
	
  BANCO SANTANDER, S.A.

  
	
   

  	
   

  
	
  By:

  	
  MARCO ANTONIO ACHÓN

  
	
   

  	
   

  
	
  By:

  	
  PABLO URGOITI

  
	
   

  	
   

  
	
   

  	
   

  
	
  BANK OF CHINA LIMITED, LONDON
  BRANCH

  
	
   

  	
   

  
	
  By:

  	
  CHUANG-FEI LI

  
	
   

  	
   

  
	
  By:

  	
  STEPHEN HARDMAN

  
	
   

  	
   

  
	
   

  
	
  BANK OF CHINA (UK) LIMITED

  
	
   

  	
   

  
	
  By:

  	
  CHUANG-FEI LI

  
	
   

  	
   

  
	
  By:

  	
  STEPHEN HARDMAN

  
	
   

  	
   

  
	
   

  
	
  BARCLAYS BANK PLC

  
	
   

  	
   

  
	
  By:

  	
  CHRIS BROWN

  
	
   

  	
   

  
	
   

  
	
  BBVA IRELAND PLC

  
	
   

  	
   

  
	
  By:

  	
  PABLO VALLEJO

  

 

124

 

	
  BNP PARIBAS

  
	
   

  	
   

  
	
  By:

  	
  LIONEL BORDARIER

  
	
   

  	
   

  
	
  By:

  	
  CHRISTOPHE MORIN

  
	
   

  	
   

  
	
   

  	
   

  
	
  CITIBANK, N.A., LONDON BRANCH

  
	
   

  	
   

  
	
  By:

  	
  RICHARD BASHAM

  
	
   

  	
   

  
	
   

  	
   

  
	
  CITIBANK INTERNATIONAL PLC

  
	
   

  
	
  By:

  	
  RICHARD BASHAM

  
	
   

  	
   

  
	
   

  	
   

  
	
  CITIBANK, N.A.

  
	
   

  
	
  By:

  	
  KEVIN EGE

  
	
   

  	
   

  
	
   

  	
   

  
	
  COMMERZBANK AKTIENGESELLSCHAFT,
  FILIALE LUXEMBURG

  
	
   

  
	
  By:

  	
  MERT YILMAZ

  
	
   

  	
   

  
	
  By:

  	
  CHRISTIANE ZAHNERT-JOST

  
	
   

  	
   

  
	
   

  	
   

  
	
  CRÉDIT AGRICOLE (SUISSE) SA

  
	
   

  	
   

  
	
  By:

  	
  LAURENT FRIEDLI

  
	
   

  	
   

  
	
  By:

  	
  JOËL BOURQUIN

  
	
   

  	
   

  
	
   

  	
   

  
	
  CREDIT SUISSE

  
	
   

  
	
  By:

  	
  GARRETT LYNSKEY

  
	
   

  	
   

  
	
  By:

  	
  SIOBHAN MCGRADY

  
	
   

  	
   

  
	
   

  	
   

  
	
  DEUTSCHE BANK LUXEMBOURG S.A.

  
	
   

  	
   

  
	
  By:

  	
  KARLINA BELHOSTE

  
	
   

  	
   

  
	
  By:

  	
  MARC LUTZ

  

 

125

 

	
  DNB NOR BANK ASA

  
	
   

  
	
  By:

  	
  CHRISTOPHER WENTWORTH

  
	
   

  	
   

  
	
  By:

  	
  NILS FYKSE

  
	
   

  	
   

  
	
   

  	
   

  
	
  GOLDMAN SACHS BANK USA

  
	
   

  
	
  By:

  	
  MARK WALTON

  
	
   

  	
   

  
	
   

  	
   

  
	
  HSBC BANK PLC

  
	
   

  
	
  By:

  	
  DAVID STENT

  
	
   

  	
   

  
	
   

  	
   

  
	
  ICBC (LONDON) LIMITED

  
	
   

  
	
  By:

  	
  BO LIANG

  
	
   

  	
   

  
	
  By:

  	
  JINGFEN ZHAO

  
	
   

  	
   

  
	
   

  	
   

  
	
  INDUSTRIAL AND COMMERCIAL BANK OF
  CHINA LIMITED BEIJING XUANWU SUB-BRANCH

  
	
   

  	
   

  
	
  By:

  	
  BO JIANG (under a power of
  attorney)

  
	
   

  	
   

  
	
   

  	
   

  
	
  ING BANK N.V. DUBLIN BRANCH

  
	
   

  
	
  By:

  	
  MAURICE KENNY

  
	
   

  	
   

  
	
  By:

  	
  ROSEMARY HEALY

  
	
   

  	
   

  
	
   

  	
   

  
	
  INTESA SANPAOLO SPA

  
	
   

  
	
  By:

  	
  LAWRENCE WYBRANIEC

  
	
   

  	
   

  
	
  By:

  	
  MARIAN SEXTON

  
	
   

  	
   

  
	
   

  	
   

  
	
  J. P.MORGAN EUROPE LIMITED,
  LONDON

  
	
   

  	
   

  
	
  By:

  	
  JULIAN GRAHAM

  

 

126

 

	
  MORGAN STANLEY BANK, N.A.

  
	
   

  
	
  By:

  	
  CHRISTOPHER WHELAN

  
	
   

  	
   

  
	
   

  	
   

  
	
  NOMURA BANK INTERNATIONAL PLC

  
	
   

  
	
  By:

  	
  PIERS LE MARCHANT

  
	
   

  	
   

  
	
   

  	
   

  
	
  NORDEA BANK AB (PUBL)

  
	
   

  
	
  By:

  	
  LARS KVARNHOLT

  
	
   

  	
   

  
	
  By:

  	
  KARL EKENGER

  
	
   

  	
   

  
	
   

  	
   

  
	
  SKANDINAVISKA ENSKILDA BANKEN AB
  (PUBL)

  
	
   

  
	
  By:

  	
  PENNY NEVILLE-PARK

  
	
   

  	
   

  
	
  By:

  	
  DAVID LOCKIE

  
	
   

  	
   

  
	
   

  	
   

  
	
  SOCIETE GENERALE

  
	
   

  
	
  By:

  	
  CHRISTIAN GOMEZ

  
	
   

  	
   

  
	
   

  	
   

  
	
  STANDARD CHARTERED BANK

  
	
   

  
	
  By:

  	
  SINHA VIVEK

  
	
   

  	
   

  
	
  By:

  	
  GURKAN ENSARI

  
	
   

  	
   

  
	
   

  	
   

  
	
  SVENSKA HANDELSBANKEN AB (PUBL)

  
	
   

  
	
  By:

  	
  HOLGER SCHAUMAN

  
	
   

  	
   

  
	
  By:

  	
  MARIE BRYDOLF KERJ

  
	
   

  	
   

  
	
   

  	
   

  
	
  UBS AG

  
	
   

  	
   

  
	
  By:

  	
  MARC REINMANN

  
	
   

  	
   

  
	
  By:

  	
  MARTIN ENG

  

 

127

 

	
  UNICREDIT LUXEMBOURG S.A.

  
	
   

  	
   

  
	
  By:

  	
  HOLGER MÖLLER

  
	
   

  	
   

  
	
  By:

  	
  MANFREDI BIANCHI

  
	
   

  	
   

  
	
   

  	
   

  
	
  ZÜRCHER KANTONALBANK

  
	
   

  	
   

  
	
  By:

  	
  ARNO POLTERA

  
	
   

  	
   

  
	
  By:

  	
  YVES HELBLING

  

 

128

 

	
  The Dollar Swingline Lenders

  
	
   

  
	
  ABN AMRO BANK N.V., NIEDERLASSUNG
  DEUTSCHLAND

  
	
   

  	
   

  
	
  By:

  	
  RUDOLF GRUNWALD

  
	
   

  	
   

  
	
  By:

  	
  ANDREAS HEYMANN

  
	
   

  	
   

  
	
   

  	
   

  
	
  BANCO SANTANDER, S.A., NEW YORK
  BRANCH

  
	
   

  	
   

  
	
  By:

  	
  JORGE SAAVEDRA

  
	
   

  	
   

  
	
  By:

  	
  JESUS LOPEZ

  
	
   

  
	
   

  
	
  BANK OF AMERICA, N.A.

  
	
   

  	
   

  
	
  By:

  	
  MATTHEW ROPER

  
	
   

  	
   

  
	
   

  	
   

  
	
  BARCLAYS BANK PLC

  
	
   

  	
   

  
	
  By:

  	
  CHRIS BROWN

  
	
   

  	
   

  
	
   

  	
   

  
	
  BAYERISCHE HYPO UND VEREINSBANK
  AG, NY BRANCH

  
	
   

  	
   

  
	
  By:

  	
  RENATE BERGLER

  
	
   

  	
   

  
	
  By:

  	
  KATRIN LUTZE

  
	
   

  	
   

  
	
   

  	
   

  
	
  BBVA IRELAND PLC

  
	
   

  	
   

  
	
  By:

  	
  PABLO VALLEJO

  
	
   

  	
   

  
	
   

  	
   

  
	
  BNP PARIBAS

  
	
   

  	
   

  
	
  By:

  	
  DONNA LA SPINA

  
	
   

  	
   

  
	
  By:

  	
  NANETTE BAUDON

  
	
   

  	
   

  
	
   

  
	
  CITIBANK, N.A.

  
	
   

  	
   

  
	
  By:

  	
  KEVIN EGE

  

 

129

 

	
  COMMERZBANK AKTIENGESELLSCHAFT,
  FILIALE LUXEMBURG

  
	
   

  
	
  By:

  	
  MERT YILMAZ

  
	
   

  	
   

  
	
  By:

  	
  CHRISTIANE ZAHNERT-JOST

  
	
   

  	
   

  
	
   

  	
   

  
	
  CRÉDIT AGRICOLE (SUISSE) SA

  
	
   

  
	
  By:

  	
  LAURENT FRIEDLI

  
	
   

  	
   

  
	
  By:

  	
  JOËL BOURQUIN

  
	
   

  	
   

  
	
   

  	
   

  
	
  CREDIT SUISSE, CAYMAN ISLANDS
  BRANCH

  
	
   

  
	
  By:

  	
  KARL STUDER

  
	
   

  	
   

  
	
  y:

  	
  JAY CHALL

  
	
   

  
	
   

  
	
  DEUTSCHE BANK LUXEMBOURG S.A.

  
	
   

  	
   

  
	
  By:

  	
  KARLINA BELHOSTE

  
	
   

  	
   

  
	
  By:

  	
  MARC LUTZ

  
	
   

  	
   

  
	
   

  	
   

  
	
  DNB NOR BANK ASA

  
	
   

  
	
  By:

  	
  CHRISTOPHER WENTWORTH

  
	
   

  	
   

  
	
  By:

  	
  NILS FYKSE

  
	
   

  	
   

  
	
   

  	
   

  
	
  GOLDMAN SACHS BANK USA

  
	
   

  
	
  By:

  	
  MARK WALTON

  
	
   

  	
   

  
	
   

  	
   

  
	
  HSBC BANK PLC

  
	
   

  
	
  By:

  	
  DAVID STENT

  
	
   

  	
   

  
	
   

  	
   

  
	
  ING BANK N.V. DUBLIN BRANCH

  
	
   

  
	
  By:

  	
  MAURICE KENNY

  
	
   

  	
   

  
	
  By:

  	
  ROSEMARY HEALY

  

 

130

 

	
  JPMORGAN CHASE BANK, N.A.

  
	
   

  
	
  By:

  	
  LUDOVIC BLANC

  
	
   

  	
   

  
	
   

  	
   

  
	
  MORGAN STANLEY BANK, N.A.

  
	
   

  
	
  By:

  	
  CHRISTOPHER WHELAN

  
	
   

  	
   

  
	
   

  	
   

  
	
  NORDEA BANK AB (PUBL)

  
	
   

  
	
  By:

  	
  LARS KVARNHOLT

  
	
   

  	
   

  
	
  By:

  	
  KARL EKENGER

  
	
   

  	
   

  
	
   

  	
   

  
	
  SKANDINAVISKA ENSKILDA BANKEN AB
  (PUBL)

  
	
   

  
	
  By:

  	
  PENNY NEVILLE-PARK

  
	
   

  	
   

  
	
  By:

  	
  DAVID LOCKIE

  
	
   

  	
   

  
	
   

  	
   

  
	
  SOCIETE GENERALE, NEW YORK BRANCH

  
	
   

  
	
  By:

  	
  AMBRISH THANAWALA

  
	
   

  	
   

  
	
   

  	
   

  
	
  STANDARD CHARTERED BANK

  
	
   

  
	
  By:

  	
  SINHA VIVEK

  
	
   

  	
   

  
	
  By:

  	
  GURKAN ENSARI

  
	
   

  	
   

  
	
   

  	
   

  
	
  SVENSKA HANDELSBANKEN AB (PUBL),
  NEW YORK BRANCH

  
	
   

  
	
  By:

  	
  HOLGER SCHAUMAN

  
	
   

  	
   

  
	
  By:

  	
  MARIE BRYDOLF KERJ

  
	
   

  	
   

  
	
   

  	
   

  
	
  UBS AG, STAMFORD BRANCH

  
	
   

  
	
  By:

  	
  IRJA OTSA

  
	
   

  	
   

  
	
  By:

  	
  MATTHIAS SIEGENTHALER

  

 

131

 

	
  The Euro Swingline Lenders

  
	
   

  
	
  ABN AMRO
  BANK N.V., NIEDERLASSUNG DEUTSCHLAND

  
	
   

  
	
  By:

  	
  RUDOLF GRUNWALD

  
	
   

  	
   

  
	
  By:

  	
  ANDREAS HEYMANN

  
	
   

  	
   

  
	
   

  	
   

  
	
  BANC OF AMERICA SECURITIES
  LIMITED

  
	
   

  
	
  By:

  	
  MATTHEW ROPER

  
	
   

  	
   

  
	
   

  	
   

  
	
  BANCO SANTANDER, S.A.

  
	
   

  
	
  By:

  	
  MARCO ANTONIO ACHÓN

  
	
   

  	
   

  
	
  By:

  	
  PABLO URGOITI

  
	
   

  	
   

  
	
   

  	
   

  
	
  BARCLAYS BANK PLC

  
	
   

  
	
  By:

  	
  CHRIS BROWN

  
	
   

  	
   

  
	
   

  	
   

  
	
  BBVA IRELAND PLC

  
	
   

  
	
  By:

  	
  PABLO VALLEJO

  
	
   

  	
   

  
	
   

  	
   

  
	
  BNP PARIBAS

  
	
   

  
	
  By:

  	
  LIONEL BORDARIER

  
	
   

  	
   

  
	
  By:

  	
  CHRISTOPHE MORIN

  
	
   

  	
   

  
	
   

  	
   

  
	
  CITIBANK, N.A., LONDON BRANCH

  
	
   

  	
   

  
	
  By:

  	
  RICHARD BASHAM

  
	
   

  	
   

  
	
   

  	
   

  
	
  COMMERZBANK AKTIENGESELLSCHAFT,
  FILIALE LUXEMBURG

  
	
   

  	
   

  
	
  By:

  	
  MERT YILMAZ

  
	
   

  	
   

  
	
  By:

  	
  CHRISTIANE ZAHNERT-JOST

  

 

132

 

	
  CRÉDIT AGRICOLE (SUISSE) SA

  
	
   

  
	
  By:

  	
  LAURENT FRIEDLI

  
	
   

  	
   

  
	
  By:

  	
  JOËL BOURQUIN

  
	
   

  	
   

  
	
   

  	
   

  
	
  CREDIT SUISSE

  
	
   

  
	
  By:

  	
  GARRETT LYNSKEY

  
	
   

  	
   

  
	
  By:

  	
  SIOBHAN MCGRADY

  
	
   

  	
   

  
	
   

  	
   

  
	
  DEUTSCHE BANK LUXEMBOURG S.A.

  
	
   

  
	
  By:

  	
  KARLINA BELHOSTE

  
	
   

  	
   

  
	
  By:

  	
  MARC LUTZ

  
	
   

  	
   

  
	
   

  	
   

  
	
  DNB NOR BANK ASA

  
	
   

  
	
  By:

  	
  CHRISTOPHER WENTWORTH

  
	
   

  	
   

  
	
  By:

  	
  NILS FYKSE

  
	
   

  	
   

  
	
   

  	
   

  
	
  GOLDMAN SACHS BANK USA

  
	
   

  
	
  By:

  	
  MARK WALTON

  
	
   

  	
   

  
	
   

  	
   

  
	
  HSBC BANK PLC

  
	
   

  
	
  By:

  	
  DAVID STENT

  
	
   

  	
   

  
	
   

  	
   

  
	
  ING BANK N.V. DUBLIN BRANCH

  
	
   

  
	
  By:

  	
  MAURICE KENNY

  
	
   

  	
   

  
	
  By:

  	
  ROSEMARY HEALY

  

 

133

 

	
  INTESA SANPAOLO SPA

  
	
   

  
	
  By:

  	
  LAWRENCE WYBRANIEC

  
	
   

  	
   

  
	
  By:

  	
  MARIAN SEXTON

  
	
   

  	
   

  
	
   

  	
   

  
	
  J.P.MORGAN EUROPE LIMITED, LONDON

  
	
   

  
	
  By:

  	
  JULIAN GRAHAM

  
	
   

  	
   

  
	
   

  
	
  MORGAN STANLEY BANK, N.A.

  
	
   

  	
   

  
	
  By:

  	
  CHRISTOPHER WHELAN

  
	
   

  	
   

  
	
   

  	
   

  
	
  NORDEA BANK AB (PUBL)

  
	
   

  
	
  By:

  	
  LARS KVARNHOLT

  
	
   

  	
   

  
	
  By:

  	
  KARL EKENGER

  
	
   

  	
   

  
	
   

  	
   

  
	
  SKANDINAVISKA ENSKILDA BANKEN AB
  (PUBL)

  
	
   

  
	
  By:

  	
  PENNY NEVILLE-PARK

  
	
   

  	
   

  
	
  By:

  	
  DAVID LOCKIE

  
	
   

  	
   

  
	
   

  	
   

  
	
  SOCIETE GENERALE

  
	
   

  
	
  By:

  	
  CHRISTIAN GOMEZ

  
	
   

  	
   

  
	
   

  	
   

  
	
  STANDARD CHARTERED BANK

  
	
   

  	
   

  
	
  By:

  	
  SINHA VIVEK

  
	
   

  	
   

  
	
  By:

  	
  GURKAN ENSARI

  
	
   

  	
   

  
	
   

  	
   

  
	
  SVENSKA HANDELSBANKEN AB (PUBL)

  
	
   

  
	
  By:

  	
  HOLGER SCHAUMAN

  
	
   

  	
   

  
	
  By:

  	
  MARIE BRYDOLF KERJ

  

 

134

 

	
  UBS AG

  
	
   

  
	
  By:

  	
  MARC REINMANN

  
	
   

  	
   

  
	
  By:

  	
  MARTIN ENG

  
	
   

  	
   

  
	
   

  	
   

  
	
  UNICREDIT LUXEMBOURG S.A.

  
	
   

  
	
  By:

  	
  HOLGER MÖLLER

  
	
   

  	
   

  
	
  By:

  	
  MANFREDI BIANCHI

  

 

135

 

	
  The SEK Swingline Lenders

  
	
   

  
	
   

  
	
  NORDEA BANK AB (PUBL)

  
	
   

  
	
  By:

  	
  LARS KVARNHOLT

  
	
   

  	
   

  
	
  By:

  	
  KARL EKENGER

  
	
   

  	
   

  
	
   

  	
   

  
	
  SKANDINAVISKA ENSKILDA BANKEN AB
  (PUBL)

  
	
   

  
	
  By:

  	
  PENNY NEVILLE-PARK

  
	
   

  	
   

  
	
  By:

  	
  DAVID LOCKIE

  
	
   

  	
   

  
	
   

  	
   

  
	
  SVENSKA HANDELSBANKEN AB (PUBL)

  
	
   

  
	
  By:

  	
  HOLGER SCHAUMAN

  
	
   

  	
   

  
	
  By:

  	
  MARIE BRYDOLF KERJ

  

 

136

 

	
  The Facility Agent

  
	
   

  
	
  CREDIT SUISSE

  
	
   

  
	
  By:

  	
  GARRETT LYNSKEY

  
	
   

  	
   

  
	
  By:

  	
  SIOBHAN MCGRADY

  
	
   

  	
   

  
	
   

  	
   

  
	
  The Dollar Swingline Agent

  
	
   

  
	
  CREDIT SUISSE, CAYMAN ISLANDS
  BRANCH

  
	
   

  
	
  By:

  	
  KARL STUDER

  
	
   

  	
   

  
	
  By:

  	
  JAY CHALL

  
	
   

  	
   

  
	
   

  	
   

  
	
  The Euro Swingline Agent 

  
	
   

  
	
  CREDIT SUISSE

  
	
   

  
	
  By:

  	
  GARRETT LYNSKEY

  
	
   

  	
   

  
	
  By:

  	
  SIOBHAN MCGRADY

  
	
   

  	
   

  
	
   

  	
   

  
	
  The SEK Swingline Agent 

  
	
   

  
	
  NORDEA BANK AB (PUBL)

  
	
   

  
	
  By:

  	
  LARS KVARNHOLT

  
	
   

  	
   

  
	
  By:

  	
  KARL EKENGER

  

 

137

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00170-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00170-of-00352.parquet"}]]