Document:

Credit Agreement, dated as of January 31, 2006

 Exhibit 10.1 
  
 Published CUSIP Number: 03076GAB3 
 Execution Version 
  
 CREDIT
AGREEMENT 
  
 consisting of a 
  
 $203,500,000 
 Tranche B Term Loan Facility 
  
 and a 
  
 $95,000,000 

Revolving Credit Facility 
  
 dated as of 
  
 January 31, 2006 
  
 among 
  
 AMERIPATH HOLDINGS, INC., 
 as Holdings 
  
 AMERIPATH, INC., 
 as the Borrower 
  
 The Lenders Party Hereto from Time to Time 
  
 WACHOVIA BANK, NATIONAL ASSOCIATION, 
 as Administrative Agent and Collateral Agent 
  
 CITIGROUP GLOBAL MARKETS INC., 
 as Syndication
Agent 
  
 and 
  
 DEUTSCHE BANK SECURITIES INC. 
 and 
 UBS SECURITIES LLC, 
 as Co-Documentation Agents 
  

  
 WACHOVIA CAPITAL MARKETS, LLC 
 and 
 CITIGROUP GLOBAL MARKETS INC., 

as Joint Lead Arrangers and Joint Bookrunners 

 TABLE OF CONTENTS 
  

					
	 	 	 	  	Page

	ARTICLE I	  	 
		
	Definitions	  	 
			
	SECTION 1.01.	 	Defined Terms	  	2
	SECTION 1.02.	 	Classification of Loans and Borrowings	  	27
	SECTION 1.03.	 	Terms Generally	  	28
	SECTION 1.04.	 	Accounting Terms; GAAP	  	28
	SECTION 1.05.	 	Specified Transactions	  	28
		
	ARTICLE II	  	 
		
	The Credits	  	 
			
	SECTION 2.01.	 	Commitments	  	28
	SECTION 2.02.	 	Loans and Borrowings	  	28
	SECTION 2.03.	 	Requests for Borrowings	  	29
	SECTION 2.04.	 	Swingline Loans	  	30
	SECTION 2.05.	 	Letters of Credit	  	31
	SECTION 2.06.	 	Funding of Borrowings	  	34
	SECTION 2.07.	 	Interest Elections	  	35
	SECTION 2.08.	 	Termination and Reduction of Commitments	  	36
	SECTION 2.09.	 	Repayment of Loans; Evidence of Debt	  	37
	SECTION 2.10.	 	Amortization of Tranche B Term Loans	  	37
	SECTION 2.11.	 	Prepayment of Loans	  	38
	SECTION 2.12.	 	Fees	  	40
	SECTION 2.13.	 	Interest	  	41
	SECTION 2.14.	 	Alternate Rate of Interest	  	42
	SECTION 2.15.	 	Increased Costs	  	42
	SECTION 2.16.	 	Break Funding Payments	  	43
	SECTION 2.17.	 	Taxes	  	44
	SECTION 2.18.	 	Payments Generally; Pro Rata Treatment; Sharing of Setoffs	  	45
	SECTION 2.19.	 	Mitigation Obligations; Replacement of Lenders	  	46
	SECTION 2.20.	 	Incremental Extensions of Credit.	  	47
		
	ARTICLE III	  	 
		
	Representations and Warranties	  	 
			
	SECTION 3.01.	 	Organization; Power	  	48
	SECTION 3.02.	 	Authorization; Enforceability	  	48
	SECTION 3.03.	 	Governmental Approvals; No Conflicts	  	48
	SECTION 3.04.	 	Financial Condition; No Material Adverse Change	  	49
	SECTION 3.05.	 	Properties	  	50
	SECTION 3.06.	 	Litigation and Environmental Matters	  	50
	SECTION 3.07.	 	Compliance with Laws and Agreements	  	51

  

 -i- 

					
	 	 	 	  	Page

	SECTION 3.08.	 	Investment and Holding Company Status	  	51
	SECTION 3.09.	 	Taxes	  	51
	SECTION 3.10.	 	ERISA	  	51
	SECTION 3.11.	 	Disclosure	  	51
	SECTION 3.12.	 	Subsidiaries	  	51
	SECTION 3.13.	 	Insurance	  	52
	SECTION 3.14.	 	Labor Matters	  	52
	SECTION 3.15.	 	Solvency	  	52
	SECTION 3.16.	 	Senior Indebtedness	  	52
	SECTION 3.17.	 	Reimbursement from Third Party Payors	  	52
	SECTION 3.18.	 	Fraud and Abuse	  	53
		
	ARTICLE IV	  	 
		
	Conditions	  	 
			
	SECTION 4.01.	 	Effective Date	  	53
	SECTION 4.02.	 	Each Credit Event	  	56
		
	ARTICLE V	  	 
		
	Affirmative Covenants	  	 
			
	SECTION 5.01.	 	Financial Statements and Other Information	  	57
	SECTION 5.02.	 	Notices of Material Events	  	58
	SECTION 5.03.	 	Information Regarding Collateral	  	59
	SECTION 5.04.	 	Existence; Conduct of Business	  	59
	SECTION 5.05.	 	Payment of Obligations	  	59
	SECTION 5.06.	 	Maintenance of Properties	  	60
	SECTION 5.07.	 	Insurance	  	60
	SECTION 5.08.	 	Casualty and Condemnation	  	60
	SECTION 5.09.	 	Books and Records; Inspection and Audit Rights	  	60
	SECTION 5.10.	 	Compliance with Laws	  	60
	SECTION 5.11.	 	Use of Proceeds and Letters of Credit	  	60
	SECTION 5.12.	 	Additional Subsidiaries.	  	61
	SECTION 5.13.	 	Further Assurances	  	61
	SECTION 5.14.	 	Post Closing Matters	  	61
		
	ARTICLE VI	  	 
		
	Negative Covenants	  	 
			
	SECTION 6.01.	 	Indebtedness; Certain Equity Securities	  	62
	SECTION 6.02.	 	Liens	  	64
	SECTION 6.03.	 	Fundamental Changes	  	65
	SECTION 6.04.	 	Investments, Loans, Advances, Guarantees and Acquisitions	  	66
	SECTION 6.05.	 	Asset Sales	  	68
	SECTION 6.06.	 	Sale and Leaseback Transactions	  	69
	SECTION 6.07.	 	Swap Agreements	  	69
	SECTION 6.08.	 	Restricted Payments; Certain Payments of Indebtedness	  	70

  

 -ii- 

					
	 	 	 	  	Page

	SECTION 6.09.	 	Transactions with Affiliates	  	72
	SECTION 6.10.	 	Restrictive Agreements	  	73
	SECTION 6.11.	 	Amendment of Material Documents	  	74
	SECTION 6.12.	 	Interest Expense Coverage Ratio	  	74
	SECTION 6.13.	 	Leverage Ratio	  	75
	SECTION 6.14.	 	Maximum Capital Expenditures	  	76
	SECTION 6.15.	 	Fiscal Year	  	76
		
	ARTICLE VII	  	 
		
	Events of Default	  	 
			
	SECTION 7.01.	 	Events of Default	  	76
	SECTION 7.02.	 	Borrower’s Right to Cure	  	79
	SECTION 7.03.	 	Exclusion of Immaterial Subsidiaries	  	79
		
	ARTICLE VIII	  	 
		
	The Agents	  	 
			
	SECTION 8.01.	 	The Agents	  	80
		
	ARTICLE IX	  	 
		
	Miscellaneous	  	 
			
	SECTION 9.01.	 	Notices	  	81
	SECTION 9.02.	 	Waivers; Amendments	  	82
	SECTION 9.03.	 	Expenses; Indemnity; Damage Waiver	  	85
	SECTION 9.04.	 	Successors and Assigns	  	86
	SECTION 9.05.	 	Survival	  	88
	SECTION 9.06.	 	Counterparts; Integration; Effectiveness	  	89
	SECTION 9.07.	 	Severability	  	89
	SECTION 9.08.	 	Right of Setoff	  	89
	SECTION 9.09.	 	Governing Law; Jurisdiction; Consent to Service of Process	  	89
	SECTION 9.10.	 	WAIVER OF JURY TRIAL	  	90
	SECTION 9.11.	 	Headings	  	90
	SECTION 9.12.	 	Confidentiality	  	90
	SECTION 9.13.	 	Interest Rate Limitation	  	91
	SECTION 9.14.	 	USA Patriot Act	  	91
	SECTION 9.15.	 	Release of Collateral.	  	91

  

 -iii- 

 SCHEDULES: 
  
 Schedule 2.01 — Commitments 
 Schedule 3.04
— Material Liabilities 
 Schedule 3.05 — Real Property 
 Schedule 3.12 — Subsidiaries 
 Schedule 3.13 — Insurance 
 Schedule 4.01 — Local Counsel Jurisdictions 
 Schedule 5.14 — Post-Closing Matters

 Schedule 6.01 — Existing Indebtedness 
 Schedule 6.02
— Existing Liens 
 Schedule 6.04 — Existing Investments 
 Schedule 6.09 — Existing Transactions with Affiliates 
 Schedule 6.10 — Existing Restrictions 
  
 EXHIBITS: 
  

			
	Exhibit A	 	— Form of Assignment and Assumption
	Exhibit B-1	 	— Form of Opinion of Ropes & Gray LLP
	Exhibit B-2	 	— Form of Opinion of Local Counsel
	Exhibit C	 	— Form of Collateral Agreement
	Exhibit D	 	— Form of Perfection Certificate
	Exhibit E	 	— Form of Borrowing Request
	Exhibit F	 	— Form of Interest Election Request
	Exhibit G	 	— Form of Note

  

 -iv- 

 CREDIT AGREEMENT dated as of January 31, 2006, among AMERIPATH, INC., a Delaware corporation (the
“Borrower”), AMERIPATH HOLDINGS, INC., a Delaware corporation (“Holdings”), the LENDERS party hereto from time to time, WACHOVIA BANK, NATIONAL ASSOCIATION, as Administrative Agent, WACHOVIA CAPITAL MARKETS, LLC and
CITIGROUP GLOBAL MARKETS INC., as joint lead arrangers and joint bookrunners, CITIGROUP GLOBAL MARKETS INC., as Syndication Agent, and DEUTSCHE BANK SECURITIES INC. and UBS SECURITIES LLC, as Co-Documentation Agents. 
  
 Pursuant to the Agreement and Plan of Merger dated as of September 29,
2005 (the “Merger Agreement”), by and among the Borrower, Holdings, Specialty Laboratories, Inc., a California corporation (“Specialty”), and Silver Acquisition Corp., a California corporation
(“MergerCo”), MergerCo will merge with and into Specialty (the “Merger”), with Specialty surviving the Merger. 
  
 Immediately prior to or substantially concurrently with the consummation of the Merger, (a) the Permitted Investors will contribute cash to Holdings
in an aggregate amount of not less than $45,900,000 (the “Cash Equity Contribution”) and James B. Peter, M.D., Ph.D. will contribute rollover equity to Holdings in an aggregate amount of not less than $119,300,000 (the
“Rollover Equity”) in exchange for shares of common stock of Holdings; (b) Holdings will contribute the aggregate amount described in clause (a) to the Borrower as common equity in exchange for all the issued and
outstanding Equity Interests (as defined below) of the Borrower (the steps described in clauses (a) and (b) of this paragraph together, the “Equity Contributions”); (c) the Borrower will obtain senior secured credit
facilities having an aggregate principal amount of $298,500,000 pursuant to this Agreement; (d) the Borrower and its Subsidiaries will repay all amounts outstanding under the Borrower’s existing Credit Agreement dated as of
February 17, 2004 (as amended, the “Existing Credit Agreement”), by and among the Borrower, Holdings, the banks and financial institutions named as lenders therein, Credit Suisse First Boston and Deutsche Bank Securities Inc.,
and the Borrower will terminate all commitments thereunder and all liens in respect thereof shall be released; (e) the Borrower will pay all executive severance costs associated with the Merger; and (f) the Borrower will pay all fees,
expenses and other costs incurred in connection with the foregoing clauses (c) through (f) (together, the “Transaction Costs”). 
  
 The Borrower has requested that the Lenders extend credit in the form of (a) Tranche B Term Loans (as defined below) on the Effective Date (as
defined below) in an aggregate principal amount not to exceed $203,500,000 and (b) Revolving Loans, Swingline Loans and Letters of Credit (each as defined below) at any time and from time to time during the Revolving Availability Period, in an
aggregate principal amount at any time outstanding not to exceed $95,000,000. 
  
 The proceeds of the Tranche B Term Loans and any Revolving Loans borrowed on the Effective Date will be used by the Borrower on the Effective Date, solely (i) first, to pay the Transaction Costs,
(ii) second, to pay all principal, interest, fees and other amounts outstanding under the Existing Credit Agreement and (iii) third, together with the Equity Contributions, amounts remaining under the Borrower’s
contingent note reserve and cash on hand at Specialty, to pay the merger consideration (the “Merger Consideration”) required by the Merger Agreement. The proceeds of Revolving Loans borrowed after the Effective Date, Swingline Loans
and Letters of Credit will be used by the Borrower for working capital and general corporate purposes (including Permitted Acquisitions). 
  
 The Lenders are willing to extend such credit to the Borrower, and the Issuing Bank is willing to issue Letters of Credit for the account of the Borrower,
on the terms and subject to the conditions set forth herein. Accordingly, the parties hereto agree as follows: 

 ARTICLE I 
  
 Definitions 
  
 SECTION 1.01. Defined Terms. As used in this Agreement, the following terms have the meanings specified below: 
  
 “ABR”, when used in reference to any Loan or Borrowing,
refers to whether such Loan, or the Loans comprising such Borrowing, are bearing interest at a rate determined by reference to the Alternate Base Rate. 
  
 “Acquisition Documents” means the Merger Agreement, the other agreements to be entered into in connection with the Merger, all schedules,
exhibits and annexes to each of the foregoing and all side letters, instruments and agreements affecting the terms of any of the foregoing or entered into in connection therewith. 
  
 “Additional Senior Debt” means unsecured Indebtedness of the Borrower (that may be guaranteed by Holdings
and those Subsidiaries that are Loan Parties) that (a) does not have a stated maturity date prior to the date that is 180 days after the Tranche B Maturity Date, (b) does not require any scheduled payment of principal (including pursuant
to a sinking fund obligation) or amortization prior to the date that is 180 days after the Tranche B Maturity Date, (c) contains non-pricing terms (including covenants, events of default, remedies, redemption provisions and sinking fund
provisions) no less favorable to the Lenders than the terms (other than customary market differences between senior debt securities and senior subordinated debt securities) of the Senior Subordinated Notes (it being understood that such Indebtedness
need not be subordinated) and (d) bears a market rate of interest as determined by the Borrower’s Board of Directors. 
  
 “Additional Subordinated Debt” means unsecured Indebtedness of the Borrower (that may be guaranteed by Holdings and those Subsidiaries
that are Loan Parties) that (a) does not have a stated maturity date prior to the date that is 180 days after the Tranche B Maturity Date, (b) does not require any scheduled payment of principal (including pursuant to a sinking fund
obligation) or amortization prior to the date that is 180 days after the Tranche B Maturity Date, (c) is (and all guarantees with respect thereto are) subordinated to the Obligations on terms no less favorable to the Lenders than the terms of
the Senior Subordinated Notes, (d) contains non-pricing terms (including covenants, events of default, remedies, redemption provisions and sinking fund provisions) no less favorable to the Lenders than the terms of the Senior Subordinated Notes
and (e) bears a market rate of interest as determined by the Borrower’s Board of Directors. 
  
 “Adjusted LIBO Rate” means, with respect to any Eurodollar Borrowing for any Interest Period, an interest rate per annum (rounded
upwards, if necessary, to the next 1/100 of 1%) equal to (a) the LIBO Rate for such Interest Period multiplied by (b) the Statutory Reserve Rate. 
  
 “Administrative Agent” means Wachovia Bank, National Association, in its capacity as administrative agent for the Lenders under the Loan
Documents. 
  
 “Administrative Questionnaire”
means an administrative questionnaire in a form supplied by the Administrative Agent. 
  
 “Affiliate” means, with respect to a specified Person, any other Person that directly, or indirectly through one or more intermediaries, Controls, is Controlled by or is under common Control with the
Person specified. 
  

 -2- 

 “Affiliated Practice” means any physician-owned professional organization, association
or corporation that employs or contracts with physicians engaged in a pathology practice and has entered into a Management Services Agreement with the Borrower or any subsidiary. 
  
 “Agents” means the Administrative Agent, the Collateral Agent, the Syndication Agent and the
Co-Documentation Agents. 
  
 “Agreement” means
this Credit Agreement, as the same may be renewed, extended, modified, supplemented or amended from time to time. 
  
 “Alternate Base Rate” means, for any day, a rate per annum equal to the greater of (a) the Prime Rate in effect on such day and
(b) the Federal Funds Effective Rate in effect on such day plus 1/2 of 1%. Any change in the Alternate Base Rate due to a change in the Prime Rate or the Federal Funds Effective Rate shall be effective from and including the effective
date of such change in the Prime Rate or the Federal Funds Effective Rate, respectively. 
  
 “Applicable Percentage” means, with respect to any Revolving Lender, the percentage of the aggregate Revolving Commitments represented by such Lender’s Revolving Commitment. If the Revolving
Commitments have terminated or expired, the Applicable Percentages shall be determined based upon the Revolving Commitments most recently in effect, giving effect to any assignments that occur thereafter. 
  
 “Applicable Rate” means, for any day with respect to
(a) any ABR Loan or Eurodollar Loan that is a Revolving Loan or (b) the commitment fees payable hereunder in respect of the Revolving Commitments, as applicable, the applicable rate per annum set forth below under the caption
“Revolving Loan ABR Spread”, “Revolving Loan Eurodollar Spread” or “Commitment Fee Rate”, as applicable, in each case, based upon the Leverage Ratio as of the most recent determination date, provided that prior
to the date of delivery to the Administrative Agent, pursuant to Section 5.01, of the Borrower’s consolidated financial information for the Borrower’s first full fiscal quarter ending at least three months after the Effective Date,
the “Applicable Rate” for purposes of clauses (a) and (b) above shall be the applicable rate per annum set forth below in Category 1: 
  

										
	 Leverage Ratio

	  	Revolving
Loan
ABR
Spread

	 	 	Revolving
Loan
Eurodollar
Spread

	 	 	Commitment
Fee Rate

	 
	 Category 1
 3 4.75x
	  	1.25	%	 	2.25	%	 	0.50	%
	 Category 2
 3 4.25x and <
4.75x
	  	1.00	%	 	2.00	%	 	0.50	%
	 Category 3
 3 3.75x and <
4.25x
	  	0.75	%	 	1.75	%	 	0.375	%
	 Category 4 
 < 3.75x
	  	0.50	%	 	1.50	%	 	0.375	%

  
 The Applicable Rate
for Tranche B Term Loans shall at all times be 2.00% per annum for Eurodollar Loans and 1.00% per annum for ABR Loans. 
  

 -3- 

 For purposes of the foregoing, (a) the Leverage Ratio shall be determined on a Pro Forma Basis as of
the end of each fiscal quarter of the Borrower based upon the Borrower’s consolidated financial statements delivered pursuant to Section 5.01(a) or (b), and (b) each change in the Applicable Rate resulting from a change in the
Leverage Ratio shall be effective during the period commencing on and including the date of delivery to the Administrative Agent of such consolidated financial statements indicating such change and ending on the date immediately preceding the
effective date of the next such change, provided that the Leverage Ratio, for purposes of determining the Applicable Rate, shall be deemed to be in Category 1 (i) at any time that an Event of Default has occurred and is continuing or
(ii) at the option of the Administrative Agent or at the request of the Required Revolving Lenders if the Borrower fails to deliver the consolidated financial statements required to be delivered by it pursuant to Section 5.01(a) or (b),
during the period from the expiration of the time for delivery thereof until such consolidated financial statements are delivered. The Administrative Agent shall notify the Borrower upon any change in the Applicable Rate in accordance with the
proviso in the immediately preceding sentence. 
  
 “Approved Fund” has the meaning assigned to such term in Section 9.04(b). 
  
 “Arrangers” means Wachovia Capital Markets, LLC and Citigroup Global Markets Inc. 
  
 “Assignment and Assumption” means an assignment and
assumption entered into by a Lender and an assignee (with the consent of any party whose consent is required by Section 9.04) and accepted by the Administrative Agent, in the form of Exhibit A or any other form approved by the
Administrative Agent. 
  
 “Available Amount”
means, the sum, without duplication, of: 
  
 (a)
the sum (determined on a cumulative basis and in no event less than zero) of the Borrower’s Portion of Excess Cash Flow for all fiscal years ending after January 1, 2007, plus 
  
 (b) the amount of Net Proceeds actually received by the
Borrower from the issuance by Holdings of any Equity Interests (or capital contribution in respect thereof or otherwise) after the Effective Date that was not Otherwise Applied, plus 
  
 (c) the amount of Net Proceeds actually received by the
Borrower from the issuance after the Effective Date of Qualified Holdings Debt that was not Otherwise Applied, plus 
  
 (d) an amount equal to any returns (including dividends, interest, distributions, returns of principal and profits on sale) actually
received by the Borrower or any of the Subsidiaries in cash in respect of any Investments made after the Effective Date pursuant to Section 6.04(xvii), minus 
  
 (e) the sum of (i) the aggregate amount of Investments made after the Effective Date pursuant to
Section 6.04(xvii), (ii) the aggregate amount of Restricted Payments made after the Effective Date pursuant to Section 6.08(a)(ix) and (iii) the aggregate amount of payments made after the Effective Date pursuant to
Section 6.08(b)(iv). 
  
 For the avoidance of doubt, Net Proceeds used to
make Restricted Payments pursuant to Section 6.08(a)(xiii) shall not be used in the calculation of the “Available Amount.” 
  
 “Board” means the Board of Governors of the Federal Reserve System of the United States of America. 
  

 -4- 

 “Borrower” has the meaning set forth in the preamble to this Agreement. 
  
 “Borrower’s Portion of Excess Cash Flow” means, on any
date after January 1, 2007, the portion of Excess Cash Flow for the immediately preceding full fiscal year of the Borrower for which financial statements have been delivered pursuant to Section 5.01 that has not been, or is not required to
be, applied to prepay Loans pursuant to Section 2.11(d). 
  
 “Borrowing” means (a) Loans of the same Class and Type made, converted or continued on the same date and, in the case of Eurodollar Loans, as to which a single Interest Period is in effect, or (b) a Swingline
Loan. 
  
 “Borrowing Request” means a request by
the Borrower for a Borrowing in accordance with Section 2.03, provided that a written Borrowing Request shall be substantially in the form of Exhibit E, or such other form as shall be approved by the Administrative Agent.

  
 “Business Day” means any day that is not a
Saturday, Sunday or other day on which commercial banks in New York City are authorized or required by law to remain closed, provided that when used in connection with a Eurodollar Loan, the term “Business Day” shall also exclude
any day on which banks are not open for dealings in dollar deposits in the London interbank market. 
  
 “Capital Expenditures” means, for any period (and without duplication), (a) the additions to property, plant and equipment and other
capital expenditures of the Borrower and any of the Subsidiaries that are (or would be) set forth in a consolidated statement of cash flows of the Borrower for such period prepared in accordance with GAAP and (b) Capital Lease Obligations
incurred by the Borrower and the Subsidiaries during such period; provided that Capital Expenditures shall not include (i) expenditures to the extent they are made with the Net Proceeds of the issuance by Holdings of Equity Interests (or
capital contributions in respect thereof) or Qualified Holdings Debt after the Effective Date to the extent not Otherwise Applied, (ii) investments that constitute a portion of the purchase price of a Permitted Acquisition,
(iii) expenditures that constitute a reinvestment of the Net Proceeds of any event described in clause (a) or (b) of the definition of the term “Prepayment Event”, to the extent permitted by Section 2.11(c), and
(iv) the purchase price of equipment purchased during such period to the extent the consideration therefor consists of any combination of (x) used or surplus equipment traded in at the time of such purchase and (y) the proceeds of a
concurrent sale of used or surplus equipment. 
  
 “Capital
Lease Obligations” of any Person means the obligations of such Person to pay rent or other amounts under any lease of (or other arrangement conveying the right to use) real or personal property, or a combination thereof, which obligations
are required to be classified and accounted for as capital leases on a balance sheet of such Person under GAAP, and the amount of such obligations shall be the capitalized amount thereof determined in accordance with GAAP. 
  
 “Change in Control” means: 
  
 (a) the acquisition of record ownership by any Person other
than Holdings of any Equity Interests in the Borrower, 
  
 (b) prior to an IPO, the failure by the Permitted Investors to own, directly or indirectly, beneficially or of record, Equity Interests in Holdings representing a majority of the aggregate ordinary voting power represented by the issued and
outstanding Equity Interests in Holdings, 
  

 -5- 

 (c) after an IPO, (i) the acquisition of ownership, directly or indirectly,
beneficially or of record, by any Person or group (within the meaning of the Securities Exchange Act of 1934, as amended, and the rules of the SEC thereunder as in effect on the date hereof) of Equity Interests in Holdings representing more than 35%
of the aggregate ordinary voting power represented by the issued and outstanding Equity Interests in Holdings and (ii) the ownership, directly or indirectly, beneficially or of record, by the Permitted Investors of Equity Interests in Holdings
representing in the aggregate a lesser percentage of the aggregate ordinary voting power represented by the issued and outstanding Equity Interests in Holdings than such Person or group, 
  
 (d) occupation of a majority of the seats (other than vacant seats) on the Board of Directors of Holdings by
Persons who were not (i) nominated by the Board of Directors of Holdings, (ii) appointed by directors so nominated or (iii) nominated by the Permitted Investors or 
  
 (e) the occurrence of a “Change of Control”, as defined in any of the Senior Subordinated Notes
Documents, any indenture or other instrument, agreement or other document evidencing or governing any Qualified Holdings Debt or any certificate of designations relating to the Qualified Preferred Stock. 
  
 “Change in Law” means (a) the adoption of any law, rule
or regulation after the date of this Agreement, (b) any change in any law, rule or regulation or in the interpretation or application thereof by any Governmental Authority after the date of this Agreement or (c) compliance by any Lender or
the Issuing Bank (or, for purposes of Section 2.15(b), by any lending office of such Lender or by such Lender’s or the Issuing Bank’s holding company, if any) with any request, guideline or directive (whether or not having the force
of law) of any Governmental Authority made or issued after the date of this Agreement. 
  
 “Charges” has the meaning set forth in Section 9.13. 
  
 “Class”, when used in reference to any Loan or Borrowing, refers to whether such Loan, or the Loans comprising such Borrowing, are
Revolving Loans, Tranche B Term Loans or Swingline Loans and, when used in reference to any Commitment, refers to whether such Commitment is a Revolving Commitment or a Tranche B Commitment. 
  
 “CLO” has the meaning assigned to such term in
Section 9.04(b). 
  
 “Code” means the
Internal Revenue Code of 1986 and the rules and regulations promulgated thereunder, as amended from time to time. 
  
 “Collateral” means any and all “Collateral”, as defined in any applicable Security Document and all other property of whatever
kind subject or purported to be subject from time to time to a Lien under any Security Document. 
  
 “Collateral Agent” means Wachovia Bank National Association in its capacity as collateral agent for the Lenders under this Agreement and
any Security Document. 
  
 “Collateral Agreement”
means the Guarantee and Collateral Agreement among the Loan Parties and the Collateral Agent, substantially in the form of Exhibit C. 
  

 -6- 

 “Collateral and Guarantee Requirement” means the requirement that: 
  
 (a) the Collateral Agent shall have received from each Loan
Party either (i) a counterpart of the Collateral Agreement duly executed and delivered on behalf of such Loan Party or (ii) in the case of any Person that becomes a Loan Party after the Effective Date, a supplement to the Collateral
Agreement, in the form specified therein, duly executed and delivered on behalf of such Loan Party; 
  
 (b) all outstanding Equity Interests of (i) the Borrower and (ii) each Subsidiary owned directly by any Loan Party shall have
been pledged pursuant to the Collateral Agreement (except that the Loan Parties (i) shall not be required to pledge more than 65% of the outstanding voting Equity Interests of any first-tier Foreign Subsidiary and (ii) shall not be
required to pledge or otherwise grant security interests in any assets of a Foreign Subsidiary) and the Collateral Agent shall have received certificates or other instruments representing all such Equity Interests, together with undated stock powers
or other instruments of transfer with respect thereto endorsed in blank; 
  
 (c) all Indebtedness of Holdings, the Borrower and each Subsidiary that is owing to any Loan Party shall be evidenced by a promissory note and shall have been pledged pursuant to the Collateral Agreement, and the
Collateral Agent shall have received all such promissory notes, together with undated instruments of transfer with respect thereto endorsed in blank; 
  
 (d) all documents and instruments, including Uniform Commercial Code financing statements and control agreements, required by law or
reasonably requested by the Collateral Agent to be executed, filed, registered or recorded to create the Liens intended to be created by the Collateral Agreement and perfect such Liens to the extent required by the Collateral Agreement, shall have
been executed, filed, registered or recorded or delivered to the Collateral Agent for filing, registration or recording; 
  
 (e) the Collateral Agent shall have received (i) counterparts of a Mortgage with respect to each Mortgaged Property duly executed and
delivered by the record owner of such Mortgaged Property, (ii) a policy or policies of title insurance issued by a nationally recognized title insurance company insuring the Lien of each such Mortgage as a valid first-priority Lien on the
Mortgaged Property described therein, free of any other Liens except as expressly permitted by Section 6.02, together with such endorsements, coinsurance and reinsurance in such amount as the Collateral Agent or the Required Lenders may
reasonably request, and such surveys, appraisals, legal opinions, completed Federal Emergency Management Agency Standard Flood Hazard Determination with respect to each Mortgaged Property and other documents as the Collateral Agent or the Required
Lenders may reasonably request with respect to any such Mortgage or Mortgaged Property; and 
  
 (f) each Loan Party shall have obtained all material consents and approvals required to be obtained by it in connection with the execution
and delivery of all Security Documents to which it is a party, the performance of its obligations thereunder and the granting by it of the Liens thereunder. 
  
 Notwithstanding anything to the contrary in this Agreement or any Security Document, no Loan Party shall be required to pledge or grant security interests in particular
assets if, in the reasonable judgment of the Administrative Agent or the Collateral Agent, the costs of creating or perfecting such pledges or security interests in such assets (including any mortgage, stamp, intangibles or other tax) are excessive
in relation to the benefits to the Lenders therefrom. 
  

 -7- 

 “Commitment” means a Revolving Commitment, a Tranche B Commitment, a Commitment in
respect of an Incremental Extension of Credit (if any) or any combination thereof (as the context requires). 
  
 “Commitment Letter” means the commitment letter, dated September 29, 2005, between the Borrower, Wachovia Bank, National
Association, Wachovia Capital Markets, LLC, Citigroup Global Markets Inc., Deutsche Bank Trust Company Americas, Deutsche Bank Securities Inc. and UBS Loan Finance LLC. 
  
 “Company Disclosure Letter” means the company disclosure letter, dated September 29, 2005, delivered
by Specialty in connection with the Merger Agreement. 
  
 “Consolidated Cash Interest Expense” means, for any period, the excess of (a) the sum of (i) the interest expense (including imputed interest expense in respect of Capital Lease Obligations) of Holdings (to the
extent paid with funds received as a dividend or other distribution from the Borrower made for the purpose of allowing Holdings to make such payment), the Borrower and the subsidiaries for such period, determined on a consolidated basis in
accordance with GAAP, (ii) any interest accrued during such period in respect of Indebtedness of Holdings (to the extent such interest is paid with funds received as a dividend or other distribution from the Borrower made for the purpose of
allowing Holdings to make such payment), the Borrower or any subsidiary that is required to be capitalized rather than included in such consolidated interest expense for such period in accordance with GAAP (less the amount of such capitalized
interest that is included in Capital Expenditures in accordance with GAAP), plus (iii) any cash payments made during such period in respect of obligations referred to in clause (b)(ii) below that were amortized or accrued in a previous
period occurring after the Closing Date, minus (b) the sum of (i) to the extent included in such consolidated interest expense for such period, non-cash amounts attributable to amortization or write-off of financing costs paid in a
previous period, plus (ii) to the extent included in such consolidated interest expense for such period, non-cash amounts attributable to amortization of debt discounts, capitalized interest or accrued interest payable in kind for such period.
For purposes of determining Consolidated Cash Interest Expense, (a) Consolidated Cash Interest Expense for the period of four consecutive fiscal quarters ending on March 31, 2006, shall be equal to the product of (i) Consolidated Cash
Interest Expense for the fiscal quarter ending on March 31, 2006, and (ii) four, (b) Consolidated Cash Interest Expense for the period of four consecutive fiscal quarters ending on June 30, 2006, shall be equal to the product of
(i) Consolidated Cash Interest Expense for the two consecutive fiscal quarters ending on June 30, 2006, and (ii) two and (c) Consolidated Cash Interest Expense for the period of four consecutive fiscal quarters ending on
September 30, 2006, shall be equal to the product of (i) Consolidated Cash Interest Expense for the three consecutive fiscal quarters ending on September 30, 2006, and (ii) a fraction, the numerator of which is four and the
denominator of which is three; provided that, in each case, Consolidated Cash Interest expense for the fiscal quarter ending March 31, 2006 shall be calculated on a pro forma basis after giving effect to the Transactions. 
  
 “Consolidated EBITDA” means, for any period, Consolidated
Net Income for such period plus  
  
 (a)
without duplication and to the extent deducted in determining such Consolidated Net Income for such period, the sum of: (i) consolidated interest expense of the Borrower and its subsidiaries for such period, (ii) (A) consolidated
income tax expense of the Borrower and its subsidiaries for such period and (B) income tax expense of Holdings for such period to the extent paid in such period using the proceeds of Restricted Payments made by the Borrower pursuant to
clause (v) of Section 6.08(a), (iii) all amounts attributable to depreciation and amortization expense of the Borrower and its subsidiaries for such period, (iv) any non-cash charges for such period, 
  

 -8- 

 including, for the avoidance of doubt, charges for purchase accounting adjustments, asset impairment, FAS
123(R), and write-offs of deferred financing costs (but excluding (A) any non-cash charge in respect of an item that was included in Consolidated Net Income in a prior period and (B) any non-cash charge that relates to the write-down or
write-off of inventory), (v) Transaction Costs in an aggregate amount not to exceed $18,700,000 made or incurred by the Borrower and its subsidiaries in connection with the Transactions that are paid, accrued or reserved for within
365 days of the consummation of the Transactions, (vi) any non-recurring fees, cash charges and other cash expenses (A) made or incurred by the Borrower and its subsidiaries in connection with any Permitted Acquisition, including
severance, relocation and facilities closing costs, that are paid, accrued or reserved for within 365 days of such transaction; provided that such amount shall not exceed $7,500,000 in the aggregate during the term of this Agreement or
(B) incurred in connection with the issuance of Equity Interests or Indebtedness or the extinguishment of Indebtedness; provided that such amount shall not exceed $7,500,000 in the aggregate during the term of this Agreement,
(vii) other cash expenses incurred during such period in connection with a Permitted Acquisition to the extent that such expenses are reimbursed in cash during such period pursuant to indemnification provisions of any agreement relating to such
transaction, (viii) fees paid to any Sponsor or Sponsor Affiliate under Section 6.09(i) and (ix) cash expenses incurred during such period in connection with extraordinary casualty events to the extent such expenses are reimbursed in
cash by insurance during such period minus  
  
 (b) without duplication and to the extent included in determining such Consolidated Net Income, (i) any cash payments made during such period in respect of non-cash charges described in clause (a)(iv) taken in a prior period or
taken in such period and (ii) any non-cash items of income for such period, all determined on a consolidated basis in accordance with GAAP, and 
  
 (c) (without duplication) plus unrealized losses and minus unrealized gains in each case in respect of Swap Agreements, as
determined in accordance with GAAP. 
  
 The Borrower’s Consolidated EBITDA
for the fiscal quarters ended June 30, 2005, September 30, 2005 and December 31, 2005 shall be $27,300,000, $27,100,000 and $24,740,000, respectively; provided that if the Borrower’s financial statements with respect to
any of the foregoing periods shall be restated or otherwise amended, Consolidated EBITDA shall be adjusted for such periods to the extent necessary to give effect to such restatement or amendment. The Borrower’s Consolidated EBITDA for the
fiscal quarter ended March 31, 2006 shall be the sum of (x) the Borrower’s Consolidated EBITDA for such period minus the portion of the Borrower’s Consolidated EBITDA attributable to Specialty and (y) the product of
the portion of the Borrower’s Consolidated EBITDA attributable to Specialty for the two month period ended March 31, 2006 multiplied by 3/2. 
  
 “Consolidated Net Income” means, for any period, the net income or loss of the Borrower and its subsidiaries for such period determined
on a consolidated basis in accordance with GAAP, provided that there shall be excluded from Consolidated Net Income (a) the income of any subsidiary (other than a Consolidated Practice or a Guarantor) to the extent that the declaration
or payment of dividends or other distributions by such subsidiary of that income is not at the time permitted by a Requirement of Law or any agreement or instrument applicable to such subsidiary, except to the extent of the amount of cash dividends
or other cash distributions actually paid to the Borrower or any subsidiary during such period (unless the income of any subsidiary receiving such dividend or distribution would be excluded from Consolidated Net Income pursuant to this proviso),
(b) any gains or losses attributable to sales of assets out of the ordinary course of business and any extraordinary losses or gains and (c) Restricted Payments made by the Borrower pursuant to Section 6.08(a)(iv). Notwithstanding the
foregoing, only for purposes of calculating the “Available Amount”, Consolidated Net Income shall be increased (without duplication 
  

 -9- 

 to the extent already included in calculating “Available Amount”) by the amount of cash dividends or other cash
distributions actually paid to the Borrower or any subsidiary (unless the income of the subsidiary receiving such dividend or distribution would be excluded from Consolidated Net Income pursuant to this definition) since the Effective Date, to the
extent not previously included therein. Notwithstanding the foregoing, in the event that a subsidiary (other than a Consolidated Practice or a Guarantor) is not wholly owned by the Borrower, the Borrower shall only include its proportionate share of
the income of such subsidiary. 
  
 “Consolidated
Practice” means any Affiliated Practice, the accounts of which are consolidated with the Borrower and its subsidiaries in accordance with GAAP. 
  
 “Control” means the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of a
Person, whether through the ability to exercise voting power, by contract or otherwise. “Controlling” and “Controlled” have meanings correlative thereto. 
  
 “Default” means any event or condition that constitutes an Event of Default or which upon notice, lapse of
time or both would, unless cured or waived, become an Event of Default. 
  
 “dollars” or “$” refers to lawful money of the United States of America. 
  
 “Domestic Subsidiary” means any Subsidiary incorporated or organized under the laws of the United States of America, any State thereof or
the District of Columbia. 
  
 “Effective Date”
means the date on which the conditions specified in Section 4.01 are satisfied (or waived). 
  
 “Environmental Laws” means all laws (including the common law), rules, regulations, codes, ordinances, orders, decrees, judgments,
injunctions, notices or binding agreements issued, promulgated or entered into by or with any Governmental Authority, relating in any way to the environment, preservation or reclamation of natural resources, the presence, management, Release or
threatened Release of any Hazardous Material, or to health and safety matters. 
  
 “Environmental Liability” means liabilities, obligations, damages, claims, actions, suits, judgments, orders, fines, penalties, fees, expenses and costs (including administrative oversight costs,
natural resource damages and medical monitoring, investigation or remediation costs), whether contingent or otherwise, arising out of or relating to (a) compliance or non-compliance with any Environmental Law, (b) the generation, use,
handling, transportation, storage, treatment or disposal of any Hazardous Materials, (c) exposure to any Hazardous Materials, (d) the Release or threatened Release of any Hazardous Materials or (e) any contract, agreement or other
consensual arrangement pursuant to which liability is assumed or imposed with respect to any of the foregoing. 
  
 “Equity Contributions” has the meaning set forth in the preamble to this Agreement. 
  
 “Equity Interests” means shares of capital stock,
partnership interests, membership interests in a limited liability company, beneficial interests in a trust or other equity ownership interests in a Person, and any warrants, options or other rights entitling the holder thereof to purchase or
acquire any such equity interest from the issuer thereof. 
  
 “ERISA” means the Employee Retirement Income Security Act of 1974 and the regulations promulgated thereunder, as amended from time to time. 
  

 -10- 

 “ERISA Affiliate” means any trade or business (whether or not incorporated) that,
together with the Borrower, is treated as a single employer under Section 414 of the Code. 
  
 “ERISA Event” means (a) any “reportable event”, as defined in Section 4043 of ERISA or the regulations issued
thereunder, with respect to a Plan (other than an event for which the 30 day notice period is waived), (b) the existence with respect to any Plan of an “accumulated funding deficiency” (as defined in Section 412 of the Code or
Section 302 of ERISA), whether or not waived, the failure to make by its due date a required installment under Section 412(m) of the Code with respect to any Plan or the failure to make any required contribution to a Multiemployer Plan,
(c) the filing pursuant to Section 412(d) of the Code or Section 303(d) of ERISA of an application for a waiver of the minimum funding standard with respect to any Plan, (d) the incurrence by the Borrower or any of its ERISA
Affiliates of any liability under Title IV of ERISA with respect to the termination of any Plan, (e) the receipt by the Borrower or any ERISA Affiliate from the PBGC or a plan administrator of any notice relating to an intention to terminate
any Plan or Plans or to appoint a trustee to administer any Plan, (f) the incurrence by the Borrower or any of its ERISA Affiliates of any liability with respect to the withdrawal or partial withdrawal from any Plan or Multiemployer Plan,
(g) the receipt by the Borrower or any ERISA Affiliate of any notice, or the receipt by any Multiemployer Plan from the Borrower or any ERISA Affiliate of any notice, concerning the imposition of Withdrawal Liability or a determination that a
Multiemployer Plan is, or is expected to be, insolvent or in reorganization, within the meaning of Title IV of ERISA, (h) the “substantial cessation of operations” within the meaning of Section 4062(e) of ERISA with respect to a
Plan, (i) the making of any amendment to any Plan which could result in the imposition of a lien or the posting of a bond or other security; or (j) the occurrence of a nonexempt prohibited transaction (within the meaning of
Section 4975 of the Code or Section 406 of ERISA) which could result in any material liability to the Borrower or any of the Subsidiaries. 
  
 “Eurodollar”, when used in reference to any Loan or Borrowing, refers to whether such Loan, or the Loans comprising such Borrowing, are
bearing interest at a rate determined by reference to the Adjusted LIBO Rate. 
  
 “Event of Default” has the meaning assigned to such term in Section 7.01. 
  
 “Excess Cash Flow” means, for any fiscal year, the sum (without duplication) of: 
  
 (a) Consolidated Net Income for such fiscal year, adjusted
to exclude any gains or losses attributable to Prepayment Events; plus 
  
 (b) depreciation, amortization and other non-cash charges or losses (including deferred income taxes) deducted in determining such Consolidated Net Income for such fiscal year; plus 
  
 (c) the amount, if any, by which Net Working Capital
decreased during such fiscal year (except as a result of reclassification of items from short-term to long-term); minus 
  
 (d) the sum of (i) any non-cash gains or non-cash items of income included in determining Consolidated Net Income for such fiscal
year plus (ii) the amount, if any, by which Net Working Capital increased during such fiscal year (except as a result of reclassification of items from long-term to short-term); minus 
  
 (e) the amount of Capital Expenditures of the Borrower and
its subsidiaries in such fiscal year (except to the extent attributable to the incurrence of Capital Lease Obligations or otherwise financed by incurring Long-Term Indebtedness); minus  
  

 -11- 

 (f) the aggregate principal amount of Long-Term Indebtedness repaid or prepaid by the
Borrower and its subsidiaries during such fiscal year, excluding (i) Indebtedness in respect of Revolving Loans, Swingline Loans and Letters of Credit (unless there is a corresponding reduction in the aggregate Revolving Commitments),
(ii) Tranche B Term Loans prepaid pursuant to Section 2.11(a), (c) or (d), and (iii) repayments or prepayments of Long-Term Indebtedness financed by the incurrence of other Long-Term Indebtedness by any Loan Party or the issuance
of Equity Interests (or capital contributions in respect thereof) after the Effective Date to the extent not Otherwise Applied; minus 
  
 (g) the amount of Restricted Payments made by a Loan Party in such fiscal year pursuant to clauses (iii) or (viii) of
Section 6.08(a); minus 
  
 (h) cash
Taxes paid in such fiscal year that did not reduce Consolidated Net Income for such fiscal year; minus 
  
 (i) cash payments made during such fiscal year in respect of Permitted Acquisitions; minus 
  
 (j) cash payments made during such fiscal year in respect of
non-cash charges that increased Excess Cash Flow in any prior fiscal year. 
  
 “Excluded Taxes” means, with respect to the Administrative Agent, any Lender, the Issuing Bank or any other recipient of any payment to be made by or on account of any obligation of the Borrower
hereunder, (a) income or franchise taxes imposed on (or measured by) its net income by the United States of America, or by the jurisdiction under the laws of which such recipient is organized or in which its principal office is located or, in
the case of any Lender, in which its applicable lending office is located, (b) any branch profits taxes imposed by the United States of America or any similar tax imposed by any other jurisdiction described in clause (a) above, (c) in
the case of a Foreign Lender (other than an assignee pursuant to a request by the Borrower under Section 2.19(b)), any withholding tax that is in effect and would apply to amounts payable to such Foreign Lender at the time such Foreign Lender
becomes a party to this Agreement (or designates a new lending office), except to the extent that such Foreign Lender (or its assignor, if any) was entitled, at the time of designation of a new lending office (or assignment), to receive additional
amounts from the Borrower with respect to any withholding tax pursuant to Section 2.17(a), and (d) any withholding tax that is attributable to a Foreign Lender’s failure to comply with Section 2.17(e). 
  
 “Existing Credit Agreement” has the meaning set forth in the
preamble to this Agreement. 
  
 “Fair Market
Value” means the value that would be paid by a willing buyer to an unaffiliated willing seller in a transaction not involving distress or necessity of either party, determined in good faith by the Board of Directors, chief executive officer
or chief financial officer of the Borrower. 
  
 “Federal
Funds Effective Rate” means, for any day, the weighted average (rounded upwards, if necessary, to the next 1/100 of 1%) of the rates on overnight Federal funds transactions with members of the Federal Reserve System arranged by Federal
funds brokers, as published on the next succeeding 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 such day for such transactions received by the Administrative Agent from three Federal funds brokers of recognized standing selected by it. 
  

 -12- 

 “Financial Officer” means the chief financial officer, principal accounting officer,
treasurer or controller of the Borrower, in each case in his or her capacity as such. 
  
 “Financial Performance Covenants” means the covenants of the Borrower set forth in Sections 6.12 and 6.13. 
  
 “Foreign Lender” means any Lender that is organized under the laws of a jurisdiction other than that in which the Borrower is located.
For purposes of this definition, the United States of America, each State thereof and the District of Columbia shall be deemed to constitute a single jurisdiction. 
  
 “Foreign Subsidiary” means any Subsidiary that is not a Domestic Subsidiary. 
  
 “GAAP” means generally accepted accounting principles in the
United States of America, as in effect from time to time. 
  
 “Government Programs” means (i) the Medicare and Medicaid Programs, (ii) the United States Department of Defense Civilian Health Program for Uniformed Services and (iii) other similar foreign or domestic
Federal, state or local reimbursement or governmental health care programs. 
  
 “Governmental Authority” means the government of the United States of America, any other nation or any political subdivision thereof, whether state or local, and any agency, authority,
instrumentality, regulatory body, court, central bank or other entity exercising executive, legislative, judicial, taxing, regulatory or administrative powers or functions of or pertaining to government. 
  
 “Guarantee” of or by any Person (the
“Guarantor”) means any obligation, contingent or otherwise, of the guarantor guaranteeing or having the economic effect of guaranteeing any Indebtedness or other obligation of any other Person (the “primary
obligor”) in any manner, whether directly or indirectly, and including any obligation of the guarantor, direct or indirect, (a) to purchase or pay (or advance or supply funds for the purchase or payment of) such Indebtedness or other
obligation or to purchase (or to advance or supply funds for the purchase of) any security for the payment thereof, (b) to purchase or lease property, securities or services for the purpose of assuring the owner of such Indebtedness or other
obligation of the payment thereof, (c) to maintain working capital, equity capital or any other financial statement condition or liquidity of the primary obligor so as to enable the primary obligor to pay such Indebtedness or other obligation
or (d) as an account party or applicant in respect of any letter of credit or letter of guaranty issued to support such Indebtedness or obligation, provided that the term “Guarantee” shall not include endorsements for
collection or deposit in the ordinary course of business. The amount of any Guarantee of any guaranteeing person shall be deemed to be the lower of (a) an amount equal to the stated or determinable amount of the primary obligation in respect of
which the Guarantee is made and (b) the maximum amount for which such guaranteeing person may be liable pursuant to the terms of the instrument embodying such Guarantee. 
  
 “Hazardous Materials” means all explosive, radioactive, infectious, chemical, biological, medical or toxic
materials, and all other chemicals, materials, substances, wastes, pollutants or contaminants in any form, including petroleum or petroleum byproducts, asbestos or asbestos-containing materials, polychlorinated biphenyls, radon gas and all other
materials, substances or wastes of any nature regulated pursuant to any Environmental Law. 
  
 “Holdings” means Ameripath Holdings, Inc., a Delaware corporation. 
  

 -13- 

 “Holdings Leverage Ratio” has the same meaning as “Leverage Ratio,” but for
purposes of determining Total Indebtedness, substituting “Holdings” for “Borrower.” 
  
 “Holdings Senior Subordinated Notes” means Holdings’ 10% Senior Subordinated Notes due 2013. 
  
 “Inactive Subsidiary” means a Subsidiary that
(a) conducts no business operations, (b) has total assets with a fair market value of not more than $500,000 individually and not more than $5,000,000 in the aggregate and (c) has no Indebtedness outstanding. 
  
 “Incremental Extensions of Credit” has the meaning set forth
in Section 2.20. 
  
 “Incremental Facility
Amendment” has the meaning set forth in Section 2.20. 
  
 “Incremental Facility Closing Date” has the meaning set forth in Section 2.20. 
  
 “Indebtedness” of any Person means, without duplication, (a) all obligations of such Person for borrowed money or with respect to
deposits or advances of any kind, (b) all obligations of such Person evidenced by bonds, debentures, notes or similar instruments, (c) all obligations of such Person upon which interest charges are customarily paid, (d) all
obligations of such Person under conditional sale or other title retention agreements relating to property acquired by such Person, (e) all obligations of such Person in respect of the deferred purchase price of property or services (excluding
trade accounts payable and accrued obligations incurred in the ordinary course of business), (f) all obligations of others secured by (or for which the holder of such obligations has an existing right, contingent or otherwise, to be secured by)
any Lien on property owned or acquired by such Person, whether or not the obligations secured thereby have been assumed, but limited, in the event such secured obligations are nonrecourse to such Person, to the fair value of such property,
(g) all Guarantees by such Person of the Indebtedness of any other Person, (h) all Capital Lease Obligations of such Person, (i) all obligations, contingent or otherwise, of such Person as an account party or applicant in respect of
letters of credit and letters of guaranty and (j) all obligations, contingent or otherwise, of such Person in respect of bankers’ acceptances. The Indebtedness of any Person shall include the Indebtedness of any other entity (including any
partnership in which such Person is a general partner) to the extent such Person is liable therefor as a result of such Person’s ownership interest in or other relationship with such entity, except to the extent the terms of such Indebtedness
provide that such Person is not liable therefor. Notwithstanding the foregoing, the term “Indebtedness” shall not include post-closing payment adjustments, earn-outs or non-compete payments to which the seller in any Permitted Acquisition
is or may become entitled or amounts that any member of management, the employees or consultants of Holdings, the Borrower or any of the Subsidiaries may become entitled to under any cash incentive plan in existence from time to time. 
  
 “Indemnified Taxes” means Taxes other than Excluded Taxes.

  
 “Indemnitee” has the meaning set forth in
Section 9.03(b). 
  
 “Information” has the
meaning set forth in Section 9.12. 
  
 “Information
Memorandum” means the Confidential Information Memorandum dated November 2005, relating to Holdings, the Borrower, its subsidiaries and the Transactions. 
  
 “Insurance Subsidiary” means a subsidiary of the Borrower established for the sole purpose of providing
insurance benefits to the Borrower and its subsidiaries. 
  

 -14- 

 “Interest Election Request” means a request by the Borrower to convert or continue a
Revolving Borrowing or a Tranche B Term Borrowing in accordance with Section 2.07, provided that a written Interest Election Request shall be substantially in the form of Exhibit F, or such other form as shall be approved by
the Administrative Agent. 
  
 “Interest Expense Coverage
Ratio” has the meaning set forth in Section 6.12. 
  
 “Interest Payment Date” means (a) with respect to any ABR Loan (including a Swingline Loan), the last day of each March, June, September and December and (b) with respect to any Eurodollar Loan, the last day of
the Interest Period applicable to the Borrowing of which such Loan is a part and, in the case of a Eurodollar Borrowing with an Interest Period of more than three months’ duration, each day prior to the last day of such Interest Period that
occurs at intervals of three months’ duration after the first day of such Interest Period. 
  
 “Interest Period” means, with respect to any Eurodollar Borrowing, the period commencing on the date of such Borrowing and ending on the
numerically corresponding day in the calendar month that is one, two, three or six months thereafter (or nine or twelve months thereafter if, at the time of the relevant Borrowing, all Lenders participating therein agree to make an interest period
of such duration available), as the Borrower may elect, provided that (a) if any Interest Period would end on a day other than a Business Day, such Interest Period shall be extended to the next succeeding Business Day unless such next
succeeding Business Day would fall in the next calendar month, in which case such Interest Period shall end on the next preceding Business Day, and (b) any Interest Period that commences on the last Business Day of a calendar month (or on a day
for which there is no numerically corresponding day in the last calendar month of such Interest Period) shall end on the last Business Day of the last calendar month of such Interest Period. For purposes hereof, the date of a Borrowing initially
shall be the date on which such Borrowing is made and thereafter shall be the effective date of the most recent conversion or continuation of such Borrowing. 
  
 “Investment” has the meaning assigned to such term in Section 6.04. 
  
 “IPO” means a bona fide underwritten initial public offering of Equity Interests of Holdings or a Parent
after the Effective Date yielding gross proceeds to Holdings or such Parent of not less than $100,000,000. 
  
 “Issuing Bank” means Wachovia Bank, National Association or such other Lender designated as an “Issuing Bank” pursuant to
Section 2.05(k). The Issuing Bank may, in its discretion, arrange for one or more Letters of Credit to be issued by Affiliates of the Issuing Bank, in which case the term “Issuing Bank” shall include any such Affiliate with respect to
Letters of Credit issued by such Affiliate. 
  
 “LC
Disbursement” means a payment made by the Issuing Bank pursuant to a Letter of Credit. 
  
 “LC Exposure” means, at any time, the sum of (a) the aggregate undrawn amount of all outstanding Letters of Credit at such time
plus (b) the aggregate amount of all LC Disbursements that have not yet been reimbursed by or on behalf of the Borrower at such time. The LC Exposure of any Revolving Lender at any time shall be its Applicable Percentage of the aggregate
LC Exposure at such time. 
  
 “Lenders” means the
Persons listed on Schedule 2.01 and any other Person that shall have become a party hereto pursuant to an Assignment and Assumption or an Incremental Facility Amendment, other than any such Person that ceases to be a party hereto pursuant to
an Assignment and Assumption. Unless the context otherwise requires, the term “Lenders” includes the Swingline Lender. 
  

 -15- 

 “Letter of Credit” means any letter of credit issued pursuant to this Agreement.

  
 “Leverage Ratio” means, on any date, the
ratio of (a) Total Indebtedness on such date to (b) Consolidated EBITDA for the period of four consecutive fiscal quarters of the Borrower ended on such date (or, if such date is not the last day of a fiscal quarter, ended on the last day
of the fiscal quarter of the Borrower most recently ended prior to such date), provided that until the expiration of the fifth Business Day subsequent to the date on which financial statements are required to be delivered pursuant to
Section 5.01 for the fiscal quarter of the Borrower most recently ended, if (i) Holdings issues Permitted Securities for cash or otherwise receives a cash contribution from the Permitted Investors, (ii) such cash is contributed by
Holdings to the Borrower as a cash contribution or in exchange for common equity of the Borrower and (iii) the Borrower applies such cash to prepay Tranche B Term Loans pursuant to Section 2.11(a), then such prepayment shall be deemed to
have occurred on the last day of such four-quarter period for purposes of calculating the Leverage Ratio solely for purposes of Section 6.13; provided, further, that nothing in this proviso shall cure any Default that may exist
until such time as the Tranche B Term Loans are prepaid as set forth in clause (iii) above. 
  
 “LIBO Rate” means, with respect to any Eurodollar Borrowing for any Interest Period, the rate appearing on Page 3750 of the Dow Jones
Market Service (or on any successor or substitute page of such service, or any successor to or substitute for such service, providing rate quotations comparable to those currently provided on such page of such Service, as determined by the
Administrative Agent from time to time for purposes of providing quotations of interest rates applicable to dollar deposits in the London interbank market) at approximately 11:00 a.m., London time, two Business Days prior to the commencement of such
Interest Period, as the rate for dollar deposits with a maturity comparable to such Interest Period. In the event that such rate is not available at such time for any reason, then the “LIBO Rate” with respect to such Eurodollar Borrowing
for such Interest Period shall be the rate at which dollar deposits for a comparable amount and for a maturity comparable to such Interest Period are offered by the principal London office of the Administrative Agent in immediately available funds
in the London interbank market at approximately 11:00 a.m., London time, two Business Days prior to the commencement of such Interest Period. 
  
 “Lien” means, with respect to any asset, (a) any mortgage, deed of trust, lien, pledge, hypothecation, encumbrance, charge or
security interest in, on or of such asset or other arrangement to provide priority or preference with respect to such asset, (b) the interest of a vendor or a lessor under any conditional sale agreement, capital lease or title retention
agreement (or any financing lease having substantially the same economic effect as any of the foregoing) relating to such asset or (c) in the case of securities, any purchase option, call or similar right of a third party (other than customary
rights of first refusal and tag, drag and similar rights in joint venture agreements (other than any such agreement in respect of any Subsidiary)) with respect to such securities. 
  
 “Limitation” means a revocation, suspension, termination, impairment, probation, limitation, nonrenewal,
forfeiture, declaration of ineligibility, loss of status as a participating provider in any Third Party Payor Arrangement, and the loss of any other rights. 
  
 “Loan Documents” means this Agreement, the promissory notes, if any, executed and delivered pursuant to Section 2.09(e), any
Incremental Facility Amendment, the Collateral Agreement and the other Security Documents. 
  
 “Loan Parties” means Holdings, the Borrower and the Subsidiary Loan Parties and each Permitted Joint Venture Loan Party. 
  

 -16- 

 “Loans” means the loans made by the Lenders to the Borrower pursuant to this Agreement
or an Incremental Facility Amendment. 
  
 “Long-Term
Indebtedness” means any Indebtedness that, in accordance with GAAP, constitutes (or, when incurred, constituted) a long-term liability. 
  
 “Managed Practice” means any Affiliated Practice, the accounts of which are not consolidated with the Borrower and its subsidiaries in
accordance with GAAP. 
  
 “Management Services
Agreement” means a written management agreement approved by the board of directors of the Borrower. 
  
 “Material Adverse Effect” means a material adverse effect on (a) the business, operations, assets, liabilities, financial condition
or results of operations of Holdings, the Borrower and the Subsidiaries, taken as a whole, whether or not covered by insurance, (b) the ability of any Loan Party to perform any obligation under any Loan Document or (c) the rights of or
benefits available to the Lenders under any Loan Document. 
  
 “Material Disposition” means the sale, transfer or disposition by the Borrower or any subsidiary of assets (including the capital stock of a Subsidiary or a business unit) for aggregate consideration (including amounts
received in connection with post-closing payment adjustments, earn-outs and noncompete payments) of at least $5,000,000. 
  
 “Material Indebtedness” means Indebtedness (other than the Loans and Letters of Credit), or obligations in respect of one or more Swap
Agreements, of any one or more of Holdings, the Borrower and the subsidiaries in an aggregate principal amount exceeding $7,500,000. For purposes of determining Material Indebtedness, the “principal amount” of the obligations of the
Borrower or any Subsidiary in respect of any Swap Agreement at any time shall be the maximum aggregate amount (giving effect to any netting agreements) that the Borrower or such Subsidiary would be required to pay if such Swap Agreement were
terminated at such time. 
  
 “Maximum Rate” has
the meaning set forth in Section 9.13. 
  
 “Medicare
and Medicaid Programs” means the programs established under Title XVIII and XIX of the Social Security Act and any successor programs performing similar functions. 
  
 “Merger” has the meaning set forth in the preamble to this Agreement. 
  
 “Merger Agreement” has the meaning set forth in the preamble
to this Agreement. 
  
 “Merger Consideration” has
the meaning set forth in the preamble to this Agreement. 
  
 “MergerCo” has the meaning set forth in the preamble to this Agreement. 
  
 “Moody’s” means Moody’s Investors Service, Inc. 
  
 “Mortgage” means a mortgage, deed of trust, assignment of leases and rents, leasehold mortgage or other
security document granting a Lien on any Mortgaged Property to secure the Obligations. Each Mortgage shall be reasonably satisfactory in form and substance to the Collateral Agent. 
  

 -17- 

 “Mortgaged Property” means each parcel of real property owned by a Loan Party and
improvements thereto with respect to which a Mortgage is granted pursuant to Section 4.01, 5.12 or 5.13. 
  
 “Multiemployer Plan” means a multiemployer plan as defined in Section 4001(a)(3) of ERISA. 
  
 “Net Proceeds” means, with respect to any event,
(a) the cash proceeds received in respect of such event including (i) any cash received in respect of any non-cash proceeds (including any cash payments received by way of deferred payment of principal pursuant to a note or installment
receivable or purchase price adjustment receivable or otherwise, but excluding any interest payments), but only as and when received, (ii) in the case of a casualty, insurance proceeds and (iii) in the case of a condemnation or similar
event, condemnation awards and similar payments, net of (b) the sum of (i) all reasonable fees and out-of-pocket expenses paid to third parties (other than Affiliates) in connection with such event, (ii) in the case of a sale,
transfer or other disposition of an asset (including pursuant to a sale and leaseback transaction or a casualty or a condemnation or similar proceeding), the amount of all payments required to be made as a result of such event to repay Indebtedness
(other than Loans) secured by such asset or otherwise subject to mandatory prepayment as a result of such event and (iii) the amount of all taxes paid (or reasonably estimated to be payable) and the amount of any reserves established to fund
liabilities reasonably estimated to be payable, in each case during the year that such event occurred or the next succeeding year and that are directly attributable to such event (as determined reasonably and in good faith by a Financial Officer),
provided that no net proceeds calculated in accordance with the foregoing of less than $500,000 realized in a single transaction or series of related transactions shall constitute Net Proceeds. 
  
 “Net Working Capital” means, at any date, (a) the
consolidated current assets of the Borrower and its subsidiaries as of such date (excluding cash and Permitted Investments and current deferred tax assets) minus (b) the consolidated current liabilities of the Borrower and its
subsidiaries as of such date (excluding current liabilities in respect of Indebtedness and current deferred tax liabilities). Net Working Capital at any date may be a positive or negative number. Net Working Capital increases when it becomes more
positive or less negative and decreases when it becomes less positive or more negative. 
  
 “Non-Consenting Lender” has the meaning set forth in Section 9.02(b). 
  
 “Obligations” has the meaning assigned to such term in the Collateral Agreement. 
  
 “Other Taxes” means any and all present or future recording,
stamp, documentary, excise, transfer, sales, property or similar taxes, charges or levies of the United States or any political subdivision thereof arising from any payment made under any Loan Document or from the execution, delivery or enforcement
of, or from the filing or recording of or otherwise with respect to the exercise by the Administrative Agent or the Lenders of their rights under, any Loan Document. 
  
 “Otherwise Applied” means, with respect to any Net Proceeds, the amount of such Net Proceeds that was
(i) required to prepay the Loans pursuant to Section 2.11 or (ii) otherwise used by a Loan Party in a manner permitted under the Loan Documents. 
  

“Parent” means any direct or indirect parent of which Holdings is a wholly owned subsidiary. 
  
 “Participant” has the meaning set forth in
Section 9.04(c). 
  
 “Patriot Act” has the
meaning set forth in Section 9.14. 
  

 -18- 

 “PBGC” means the Pension Benefit Guaranty Corporation referred to and defined in ERISA
and any successor entity performing similar functions. 
  
 “Perfection Certificate” means a certificate in the form of Exhibit D or any other form approved by the Collateral Agent. 
  

“Permitted Acquisitions” means any acquisition by the Borrower or any Subsidiary Loan Party of at least 80% of all outstanding Equity
Interests (other than directors’ qualifying shares) in, all or substantially all the assets of, or all or substantially all the assets constituting a division or line of business of, a Person incorporated or organized under the laws of the
United States of America, any State thereof or the District of Columbia (and including, for the avoidance of doubt, the acquisition of a Consolidated Practice through the entering into of a Management Services Agreement) if (a) such acquisition
was not preceded by, or consummated pursuant to, a hostile offer (including a proxy contest), (b) no Default has occurred and is continuing or would result therefrom, (c) after giving effect to such acquisition, Holdings, the Borrower and
its subsidiaries shall have aggregate unused and available Revolving Commitments and unrestricted cash and Permitted Investments of not less than $20,000,000, (d) such acquisition and all transactions related thereto are consummated in
accordance in all material respects with all applicable laws, (e) except with respect to a Person that shall become a Consolidated Practice, all actions required to be taken with respect to such acquired or newly formed Subsidiary or assets to
cause such Person to become a Loan Party under Sections 5.12 and 5.13 shall have been taken (or shall be taken promptly thereafter), (f) the Borrower and the Subsidiaries are in compliance on a Pro Forma Basis with the Financial Performance
Covenants recomputed as of the last day of the most recently ended fiscal quarter of the Borrower for which financial statements are available, (g) any Person or assets or division as acquired in accordance herewith shall be in similar lines of
business or lines of business related to or incidental to those businesses in which the Borrower and/or its Subsidiaries are engaged as of the Effective Date, (h) the Borrower has delivered to the Administrative Agent an officer’s
certificate to the effect set forth in clauses (a), (b), (c), (d), (e), (f) and (g) above, together with all relevant financial information for the Person or assets to be acquired and (i) if such acquisition is the acquisition of a
Consolidated Practice , following the consummation of such acquisition, the Borrower or such Subsidiary Loan Party shall use commercially reasonable efforts to (1) cause substantially all of the assets of such acquired Consolidated Practice to
the extent determined by the Borrower in good faith not to conflict with applicable law to be transferred to a Subsidiary that is a Subsidiary Loan Party and (2) enter into a Management Services Agreement with such acquired Consolidated
Practice. 
  
 “Permitted Encumbrances” means:

  
 (a) Liens imposed by law for taxes that are
not yet due or are being contested in compliance with Section 5.05; 
  
 (b) carriers’, warehousemen’s, mechanics’, materialmen’s, repairmen’s, construction contractors and other like Liens imposed by law, arising in the ordinary course of business and securing
obligations that are not overdue by more than 30 days or are being contested in compliance with Section 5.05; 
  
 (c) (i) pledges and deposits made in the ordinary course of business in compliance with workers’ compensation, unemployment
insurance and other social security laws or regulations and (ii) pledges and deposits in the ordinary course of business securing liability for reimbursement or indemnification obligations of (including obligations in respect of letters of
credit or bank guarantees for the benefit of) insurance carriers providing property, casualty or liability insurance to Holdings, the Borrower or any Subsidiary; 
  

 -19- 

 (d) deposits to secure the performance of bids, trade contracts, government contracts,
leases, statutory obligations, surety, stay, customs and appeal bonds, performance bonds and other obligations of a like nature (including those to secure health, safety and environmental obligations); 
  
 (e) judgment liens in respect of judgments that do not
constitute an Event of Default under paragraph (k) of Section 7.01; 
  
 (f) easements, zoning restrictions, rights-of-way, encroachments, protrusions, minor defects or irregularities of title and other similar encumbrances on real property imposed by law or arising in the ordinary course
of business that do not secure any monetary obligations and do not either detract from the value of the affected property or interfere with the ordinary conduct of business of the Borrower or any Subsidiary, in each case in any material respect;

  
 (g) landlords’ and lessors’ and
other like Liens in respect of rent not in default; 
  
 (h) any Liens shown on the title insurance policies in favor of the Collateral Agent insuring the Liens of the Mortgages; and 
  
 (i) leases or subleases which are subordinate to the Lien of any Mortgage, 
  
 provided that the term “Permitted Encumbrances” shall not include any Lien securing
Indebtedness. 
  
 “Permitted Investments” means:

  
 (a) direct obligations of, or obligations the
principal of and interest on which are unconditionally guaranteed by, the United States of America (or by any agency thereof to the extent such obligations are backed by the full faith and credit of the United States of America), in each case
maturing within one year from the date of acquisition thereof; 
  
 (b) investments in commercial paper maturing within 365 days from the date of acquisition thereof and having, at such date of acquisition, a credit rating from S&P or Moody’s of at least A2 or P2,
respectively; 
  
 (c) investments in certificates
of deposit, banker’s acceptances and time deposits maturing within 365 days from the date of acquisition thereof issued or guaranteed by or placed with, and money market deposit accounts issued or offered by, any domestic office of any
commercial bank organized under the laws of the United States of America or any State thereof that has a combined capital and surplus and undivided profits of not less than $500,000,000; 
  
 (d) fully collateralized repurchase agreements with a term of not more than 30 days for securities described
in clause (a) above and entered into with a financial institution satisfying the criteria described in clause (c) above; and 
  
 (e) investments in money market funds that comply with the criteria set forth in SEC Rule 2a-7 under the Investment Company Act of 1940,
as amended, substantially all of whose assets are invested in investments of the type described in clauses (a) through (d) above. 
  
 “Permitted Investors” means (A)(i) the Sponsor, WCAS Capital Partners IV, L.P. and their respective Sponsor Affiliates (including any
investment partnership under common Control with the Sponsor), (ii) any officer, director, employee, partner, member of stockholder of the manager or general 
  

 -20- 

 partner of the foregoing persons, and (iii) any Related Parties with respect to any of the foregoing persons and
(B) other than for purposes of the definition of “Change in Control”, (i) James B. Peter, M.D., Ph.D. and each of the other directors, officers and employees of Specialty who directly or indirectly own capital stock of Holdings
on the Effective Date, (ii) the spouses, ancestors, siblings, descendants (including children or grandchildren by adoption) and the descendants of any of the siblings of the Persons referred to in clause (B)(i); (iii) in the event of the
incompetence or death of any of the Persons described in clauses (B)(i) and (B)(ii), such Person’s estate, executor, administrator, committee or other personal representative, in each case who at any particular date shall be the beneficial
owner or have the right to acquire, directly or indirectly, capital stock of the Borrower or Holdings (or any other direct or indirect parent company of the Borrower); (iv) any trust created for the benefit of the Persons described in any of
subclauses (i) through (iii) of clause (B) above or any trust for the benefit of any such trust; or (v) any Person Controlled by any of the Persons described in any of subclauses (i) through (iv) of clause
(B) above. 
  
 “Permitted Joint Venture”
means any investment by which the Borrower or any Subsidiary Loan Party acquires at least 10% but not more than 99% of the Equity Interests of any Person, provided that the primary business of such Person is (x) to own, lease or operate
facilities which provide long-term acute care services or (y) to provide long-term acute care services or any related services to a hospital or other health care facility. 
  
 “Permitted Joint Venture Loan Party” means any Permitted Joint Venture which (x) is a subsidiary of
the Borrower or any Subsidiary Loan Party and (y) satisfies the terms of the Collateral and Guarantee Requirement. 
  
 “Permitted Security” means (a) common stock of Holdings or (b) Qualified Preferred Stock, in each case (i) (x) issued
to the Permitted Investors for cash or (y) issued to any other Person that makes an equity investment in Holdings in connection with the Transactions and (ii) the proceeds of which are contributed by Holdings to the Borrower in exchange
for common stock or as a capital contribution. 
  
 “Person” means any natural person, corporation, limited liability company, trust, joint venture, association, company, partnership, Governmental Authority or other entity. 
  
 “Plan” means any employee pension benefit plan subject to
the provisions of Title IV or Section 302 of ERISA or Section 412 of the Code, and in respect of which the Borrower or any ERISA Affiliate is (or, if such plan were terminated, would under Section 4069 of ERISA be deemed to be) an
“employer” as defined in Section 3(5) of ERISA. 
  
 “Prepayment Event” means: 
  
 (a) any sale, transfer or other disposition (excluding pursuant to a sale and leaseback transaction permitted under Section 6.06) of any property or asset of any Loan Party resulting in Net Proceeds in excess of $500,000 in any fiscal
year, other than dispositions described in clauses (a)(i), (b), (c), (d) and (i) of Section 6.05; or 
  
 (b) any casualty or other insured damage to, or any taking under power of eminent domain or by condemnation or similar proceeding of, any
property or asset of any Loan Party resulting in Net Proceeds in excess of $1,000,000; or 
  
 (c) the issuance by a Parent, Holdings, the Borrower or any Subsidiary of any Equity Interests, in a public offering or in a private
placement or sale that is underwritten, managed, arranged, placed or initially purchased by an investment bank (it being understood that no Permitted 
  

 -21- 

 Investor shall be deemed an investment bank) the proceeds of which are received directly or through a
capital contribution by Holdings, the Borrower or any Subsidiary, other than (i) Permitted Securities, (ii) any issuance of directors’ qualifying shares, (iii) any issuance by the Borrower or any Subsidiary of common Equity
Interests to, or receipt of any such capital contribution from, Holdings, the Borrower or any other Subsidiary or (iv) any issuance to management, employees or consultants of Holdings, the Borrower or any of the Subsidiaries under any
employment or similar agreement, stock option or stock purchase plan or benefit plan in existence from time to time; or 
  
 (d) the incurrence by Holdings, the Borrower or any Subsidiary of any Indebtedness, other than Indebtedness permitted under
Section 6.01 or permitted by the Required Lenders pursuant to Section 9.02. 
  
 “Prime Rate” means the rate of interest per annum publicly announced from time to time by Wachovia Bank, National Association as its prime rate in effect for dollars at its principal office in
Charlotte, North Carolina; each change in the Prime Rate shall be effective from and including the date such change is publicly announced as being effective. 
  
 “Pro Forma Basis” means, for purposes of calculating the Holdings Leverage Ratio, Leverage Ratio or the Interest Expense Coverage Ratio
for any period, that any Specified Transaction that has been consummated in such period and the following transactions in connection therewith shall be deemed to have occurred as of the first day of such period: 
  
 (a) income statement items (whether positive or negative)
attributable to the property or Person subject to such Specified Transaction, in the case of a Permitted Acquisition, 
  
 (b) any retirement of Indebtedness, and 
  
 (c) any Indebtedness incurred or assumed by Holdings, the Borrower or any of their subsidiaries in connection therewith (or in any
Specified Transaction) and if such Indebtedness has a floating or formula rate, it shall have an implied rate of interest for the applicable period for purposes of this definition determined by utilizing the rate which is or would be in effect with
respect to such Indebtedness as at the relevant date of determination; 
  
 provided that the foregoing pro forma adjustments may be applied to any such test solely to the extent that such adjustments are consistent with the definition of “Consolidated EBITDA” and give effect to events (including
cost savings) without duplication to the extent they (i) would be permitted to be reflected in pro forma financial information complying with the requirements of GAAP and Article XI of Regulation S-X under the Securities Act of 1933, as
amended, as interpreted by the Staff of the SEC, (ii) were actually implemented by the business that was the subject of the applicable Permitted Acquisition or Material Disposition, as the case may be, within 12 months after the date of such
transaction, and are supportable and quantifiable by the underlying accounting records of such business or (iii) for all purposes other than determining the “Applicable Rate”, relate to the business that is the subject of such
Specified Transaction, and are reasonably determined by the Borrower to be probable based upon specifically identifiable actions to be taken within 12 months after the date of such Specified Transaction and, in each case, are certified by a
Financial Officer (accompanied by reasonably detailed supporting evidence). 
  
 “Proposed Change” has the meaning set forth in Section 9.02(b). 
  
 “Qualified Holdings Debt” means Qualified Holdings Discount Debt and Qualified Holdings Subordinated Debt. 
  

 -22- 

 “Qualified Holdings Discount Debt” means unsecured Indebtedness of Holdings or a Parent
that (a) is not subject to any Guarantee by the Borrower or any Subsidiary Loan Party, (b) does not mature prior to the date that is 180 days after the Tranche B Maturity Date, (c) has no scheduled amortization or payments of
principal prior to such 180th day (it being understood that such Indebtedness may have mandatory prepayment, repurchase or redemption provisions satisfying the requirements of clause (e) hereof), (d) does not require any payments in cash
of interest or other amounts in respect of the principal thereof for at least four (4) years from the date of issuance or incurrence thereof, and (e) has mandatory prepayment, repurchase or redemption, covenant, default and remedy
provisions customary for senior discount notes of an issuer that is the parent of a borrower under senior secured credit facilities and in any event, with respect to default and remedy provisions, not materially more restrictive than those set forth
in the Senior Subordinated Notes, taken as a whole (other than provisions customary for senior discount notes of a holding company). 
  
 “Qualified Holdings Subordinated Debt” means unsecured Indebtedness of Holdings or a Parent issued to Permitted Investors, including the
Holdings Senior Subordinated Notes and additional unsecured Subordinated Indebtedness that (a) does not mature prior to the date that is 180 days after the Tranche B Maturity Date and (b) has subordination provisions and other non-pricing
terms and conditions that are no less favorable to the Lenders than the analogous provisions of the Holdings Senior Subordinated Notes. 
  
 “Qualified Preferred Stock” means preferred stock of Holdings that (a) does not require the payment of cash dividends (it being
understood that cumulative dividends shall be permitted), (b) is not mandatorily redeemable pursuant to a sinking fund obligation or otherwise prior to the date that is 180 days after the Tranche B Maturity Date (other than upon an event of
default or change in control, provided that any such payment is subordinated (whether by contract or pursuant to the Holdings charter or the certificate of designations of such preferred stock) in right of payment to the Obligations on the
terms set forth in the certificate of incorporation of Holdings in existence on the Effective Date or such other terms reasonably satisfactory to the Administrative Agent), (c) contains no maintenance covenants, other covenants materially
adverse to the Lenders or remedies (other than voting rights) and (d) is convertible only into common equity of Holdings or securities that would constitute Qualified Preferred Stock. 
  
 “Register” has the meaning set forth in
Section 9.04(b). 
  
 “Reimbursement
Approvals” means, with respect to all Government Programs, any and all certifications, provider numbers, provider agreements, participation agreements, accreditations and any other similar agreements with or approvals by any Governmental
Authority or other Person. 
  
 “Related Parties”
means, with respect to any specified Person, such Person’s Affiliates and the respective directors, officers, employees, agents, trustees and advisors of such Person and such Person’s Affiliates. 
  
 “Release” means any release, spill, emission, leaking,
dumping, injection, pouring, deposit, disposal, discharge, dispersal, leaching or migration into or through the environment or within or upon any building, structure, facility or fixture. 
  
 “Required Lenders” means, at any time, Lenders having Revolving Exposures, Tranche B Term Loans, Loans in
respect of Incremental Extensions of Credit (if any) and unused Commitments representing more than 50% of the aggregate Revolving Exposures, outstanding Tranche B Term Loans, outstanding Loans in respect of Incremental Extensions of Credit (if any)
and unused Commitments at such time. 
  

 -23- 

 “Required Revolving Lenders” means, at any time, Revolving Lenders having Revolving
Exposures and unused Revolving Commitments representing more than 50% of the aggregate Revolving Exposures and unused Revolving Commitments at such time. 
  
 “Requirement of Law” means, with respect to any Person, (i) the charter, articles or certificate of organization or incorporation
and bylaws or other organizational or governing documents of such Person and (ii) any statute, law, treaty, rule, regulation, order, decree, writ, injunction or determination of any arbitrator or court or other Governmental Authority, in each
case applicable to or binding upon such Person or any of its property or to which such Person or any of its property is subject. 
  
 “Restricted Payment” means any dividend or other distribution (whether in cash, securities or other property) with respect to any Equity
Interests in Holdings, the Borrower or any Subsidiary, or any payment thereon (whether in cash, securities or other property), including any sinking fund or similar deposit, on account of the purchase, redemption, retirement, acquisition,
cancellation or termination of any Equity Interests in Holdings, the Borrower or any Subsidiary or any option, warrant or other right to acquire any such Equity Interests in Holdings, the Borrower or any Subsidiary. 
  
 “Revolving Availability Period” means the period from and
including the Effective Date to but excluding the earlier of (a) the Revolving Maturity Date and (b) the date of termination of the Revolving Commitments. 
  
 “Revolving Commitment” means, with respect to each Lender, the commitment, if any, of such Lender to make
Revolving Loans and to acquire participations in Letters of Credit and Swingline Loans hereunder, expressed as an amount representing the maximum possible aggregate amount of such Lender’s Revolving Exposure hereunder, as such commitment may be
(a) reduced from time to time pursuant to Section 2.08 and (b) reduced or increased from time to time pursuant to assignments by or to such Lender pursuant to Section 9.04. The initial amount of each Lender’s Revolving
Commitment is set forth on Schedule 2.01 or in the Assignment and Assumption pursuant to which such Lender shall have assumed its Revolving Commitment, as applicable. The initial aggregate amount of the Lenders’ Revolving Commitments is
$95,000,000. 
  
 “Revolving Exposure” means, with
respect to any Lender at any time, the sum of the outstanding principal amount of such Lender’s Revolving Loans and its LC Exposure and Swingline Exposure at such time. 
  
 “Revolving Lender” means a Lender with a Revolving Commitment or, if the Revolving Commitments have
terminated or expired, a Lender with Revolving Exposure. 
  
 “Revolving Loan” means a Loan made pursuant to clause (b) of Section 2.01. 
  
 “Revolving Maturity Date” means January 31, 2011. 
  
 “S&P” means Standard & Poor’s, a division of The McGraw-Hill Companies, Inc. 

 
 “SEC” means the Securities and Exchange Commission or any
Governmental Authority succeeding to any of its principal functions. 
  
 “Security Documents” means the Collateral Agreement, the Mortgages and each other security agreement or other instrument or document executed and delivered pursuant to Section 5.12 or 5.13 to secure any of the
Obligations. 
  

 -24- 

 “Senior Subordinated Notes” means the 10 1/2% Senior Subordinated Notes due 2013
issued by the Borrower prior to the Effective Date in the aggregate principal amount of $350,000,000 and the Indebtedness represented thereby. 
  
 “Senior Subordinated Notes Documents” means the indenture dated as of March 27, 2003, among the Borrower, the subsidiaries listed
therein and U.S. Bank National Association, as trustee, as amended by that Supplemental Indenture, dated as of February 12, 2004 and as further amended by that Supplemental Indenture, dated as of the Effective Date, in respect of the Senior
Subordinated Notes and all other instruments, agreements and other documents evidencing or governing the Senior Subordinated Notes or providing for any Guarantee or other right in respect thereof. 
  
 “Specialty” means Specialty Laboratories, Inc., a California
corporation. 
  
 “Specified Transactions” means
(a) any Permitted Acquisition, (b) any Material Disposition and (c) any proposed incurrence of Indebtedness in respect of which the Interest Expense Coverage Ratio or Leverage Ratio is by the terms of this Agreement required to be
calculated on a Pro Forma Basis. 
  
 “Sponsor”
means Welsh, Carson, Anderson & Stowe IX, L.P. 
  
 “Sponsor Affiliate” means (i) each Affiliate of the Sponsor that is neither an operating company nor a company controlled by an operating company, (ii) each partner, officer, director, principal or member of the
Sponsor or any Sponsor Affiliate and (iii) any spouse, parent or lineal descendant (including by adoption) of any of the foregoing who are natural persons and any trust for the benefit of such persons. 
  
 “Statutory Reserve Rate” means a fraction (expressed as a
decimal), the numerator of which is the number one and the denominator of which is the number one minus the aggregate of the maximum reserve percentages (including any marginal, special, emergency or supplemental reserves) expressed as a
decimal established by the Board to which the bank serving as the Administrative Agent is subject with respect to the Adjusted LIBO Rate, for eurocurrency funding (currently referred to as “Eurocurrency Liabilities” in Regulation D of
the Board). Such reserve percentages shall include those imposed pursuant to such Regulation D. Eurodollar Loans shall be deemed to constitute eurocurrency funding and to be subject to such reserve requirements without benefit of or credit for
proration, exemptions or offsets that may be available from time to time to any Lender under such Regulation D or any comparable regulation. The Statutory Reserve Rate shall be adjusted automatically on and as of the effective date of any
change in any reserve percentage. 
  
 “Subordinated
Indebtedness” means Indebtedness of Holdings, the Borrower or any Subsidiary that is contractually subordinated to the Obligations. 
  
 “subsidiary” means, with respect to any Person (the “parent”) at any date, any corporation, limited liability company,
partnership, association or other entity the accounts of which would be consolidated with those of the parent in the parent’s consolidated financial statements if such financial statements were prepared in accordance with GAAP as of such date,
as well as any other corporation, limited liability company, partnership, association or other entity of which securities or other ownership interests representing more than 50% of the equity or more than 50% of the ordinary voting power or, in the
case of a partnership, more than 50% of the general partnership interests are, as of such date, owned, controlled or held (including, with respect to the Borrower, any Consolidated Practice, but excluding any Managed Practice). 
  

 -25- 

 “Subsidiary” means any subsidiary of the Borrower other than any Permitted Joint Venture
that is not a Permitted Joint Venture Loan Party. 
  
 “Subsidiary Loan Party” means any Domestic Subsidiary (other than (a) any Inactive Subsidiary for which the Borrower has not satisfied the Collateral and Guarantee Requirement, (b) any Consolidated Practice and
(c) any Insurance Subsidiary). 
  
 “Supermajority
Lenders” means Lenders having Revolving Exposures, Tranche B Term Loans, Loans in respect of Incremental Extensions of Credit (if any) and unused Commitments representing more than 75% of the aggregate Revolving Exposures, outstanding
Tranche B Term Loans, outstanding Loans in respect of Incremental Extensions of Credit (if any) and unused Commitments at such time. 
  
 “Swap Agreement” means any agreement with respect to any swap, forward, future or derivative transaction or option or similar agreement
involving, or settled by reference to, one or more rates, currencies, commodities, equity or debt instruments or securities, or economic, financial or pricing indices or measures of economic, financial or pricing risk or value or any similar
transaction or any combination of these transactions, provided that no phantom stock or similar plan providing for payments only on account of services provided by current or former directors, officers, employees or consultants of the
Borrower or the Subsidiaries shall be a Swap Agreement. 
  
 “Swingline Exposure” means, at any time, the aggregate principal amount of all Swingline Loans outstanding at such time. The Swingline Exposure of any Lender at any time shall be its Applicable Percentage of the aggregate
Swingline Exposure at such time. 
  
 “Swingline
Lender” means Wachovia Bank, National Association, in its capacity as lender of Swingline Loans hereunder. 
  
 “Swingline Loan” means a Loan made pursuant to Section 2.04. 
  
 “Syndication Agent” means Citigroup Global Markets Inc. 
  
 “Taxes” means any and all present or future taxes, levies,
imposts, duties, deductions, charges or withholdings imposed by any Governmental Authority. 
  
 “Third Party Payor” means any Government Program and any quasipublic agency, Blue Cross, Blue Shield and any managed care plans and organizations, including health maintenance organizations and
preferred provider organizations and private commercial insurance companies and any similar third party arrangements, plans or programs for payment or reimbursement in connection with health care services, products or supplies. 
  
 “Third Party Payor Arrangement” means any arrangement, plan
or program for payment or reimbursement by any Third Party Payor in connection with the provision of healthcare services, products or supplies. 
  
 “Total Indebtedness” means, as of any date, (x) the aggregate principal amount of Indebtedness of the Borrower and the Subsidiaries
outstanding as of such date, in the amount that would be reflected on a balance sheet prepared as of such date on a consolidated basis in accordance with GAAP, minus (i) the amount of unrestricted cash that is not subject to any Lien
(other than any Lien under the Loan Documents) and (ii) Permitted Investments that are not subject to any Lien (other than any Lien under the Loan Documents) held, on such date, by the Borrower and the Subsidiary Loan Parties; provided 

  

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 that the aggregate amount of unrestricted cash and Permitted Investments subtracted pursuant to clauses (i) and
(ii) shall be limited to the amount thereof, if any, greater than $10,000,000 and less than or equal to $30,000,000. Notwithstanding the foregoing, in the event that a subsidiary (other than a Consolidated Practice or a Guarantor) is not wholly
owned by the Borrower, the Borrower shall only include its proportionate share of the Indebtedness of such subsidiary. 
  
 “Tranche B Commitment” means, with respect to each Lender, the commitment, if any, of such Lender to make a Tranche B Term Loan hereunder
on the Effective Date, expressed as an amount representing the maximum principal amount of the Tranche B Term Loan to be made by such Lender hereunder, as such commitment may be (a) reduced from time to time pursuant to Section 2.08 and
(b) reduced or increased from time to time pursuant to assignments by or to such Lender pursuant to Section 9.04. The initial amount of each Lender’s Tranche B Commitment is set forth on Schedule 2.01 or in the Assignment and
Assumption pursuant to which such Lender shall have assumed its Tranche B Commitment, as applicable. The initial aggregate amount of the Lenders’ Tranche B Commitments is $203,500,000. 
  
 “Tranche B Lender” means a Lender with a Tranche B
Commitment or an outstanding Tranche B Term Loan. 
  
 “Tranche B Maturity Date” means October 31, 2012. 
  
 “Tranche B Term Loan” means a Loan made pursuant to clause (a) of Section 2.01. 
  
 “Transaction Costs” has the meaning set forth in the preamble to this Agreement. 
  
 “Transactions” means (a) the Merger and the other
transactions contemplated by the Acquisition Documents, (b) the Equity Contributions, (c) the repayment in full of all obligations under the Existing Credit Agreement, the termination of all commitments thereunder and the release of all
liens in respect thereof, (d) the execution, delivery and performance by each Loan Party of the Loan Documents to which it is to be a party, the borrowing of Loans, the use of the proceeds thereof and the issuance of Letters of Credit hereunder
on the Effective Date, and (e) payment of the Transaction Costs on the Effective Date. 
  
 “Type”, when used in reference to any Loan or Borrowing, refers to whether the rate of interest on such Loan, or on the Loans comprising such Borrowing, is determined by reference to the Adjusted LIBO
Rate or the Alternate Base Rate. 
  
 “wholly
owned” means with respect to any Person, a subsidiary of such Person all the outstanding Equity Interests of which (other than (x) directors’ qualifying shares and (y) shares issued to foreign nationals to the extent required
by applicable law) are owned by such Person and/or by one or more wholly owned subsidiaries of such Person. 
  
 “Withdrawal Liability” means liability to a Multiemployer Plan as a result of a complete or partial withdrawal from such Multiemployer
Plan, as such terms are defined in ERISA. 
  
 SECTION 1.02.
Classification of Loans and Borrowings. For purposes of this Agreement, Loans may be classified and referred to by Class (e.g., a “Revolving Loan”) or by Type (e.g., a “Eurodollar Loan”) or by Class and Type
(e.g., a “Eurodollar Revolving Loan”). Borrowings also may be classified and referred to by Class (e.g., a “Revolving Borrowing”) or by Type (e.g., a “Eurodollar Borrowing”) or by Class and Type
(e.g., a “Eurodollar Revolving Borrowing”). 
  

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 SECTION 1.03. Terms Generally. The definitions of terms herein shall apply equally to the singular
and plural forms of the terms defined. Whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms. The words “include”, “includes” and “including” shall be deemed
to be followed by the phrase “without limitation”. The word “will” shall be construed to have the same meaning and effect as the word “shall”. Unless the context requires otherwise (a) any definition of or
reference to any agreement, instrument or other document herein shall be construed as referring to such agreement, instrument or other document as from time to time amended, supplemented or otherwise modified (subject to any restrictions on such
amendments, supplements or modifications set forth herein), (b) any reference herein to any Person shall be construed to include such Person’s successors and assigns, (c) the words “herein”, “hereof” and
“hereunder”, and words of similar import, shall be construed to refer to this Agreement in its entirety and not to any particular provision hereof, (d) all references herein to Articles, Sections, Exhibits and Schedules shall be
construed to refer to Articles and Sections of, and Exhibits and Schedules to, this Agreement and (e) the words “asset” and “property” shall be construed to have the same meaning and effect and to refer to any and all
tangible and intangible assets and properties, including cash, securities, accounts and contract rights. 
  
 SECTION 1.04. Accounting Terms; GAAP. Except as otherwise expressly provided herein, all terms of an accounting or financial nature shall be
construed in accordance with GAAP as in effect from time to time, provided that if the Borrower notifies the Administrative Agent that the Borrower requests an amendment to any provision (including any definition) hereof to eliminate the
effect of any change occurring after the date hereof in GAAP or in the application thereof on the operation of such provision (or if the Administrative Agent notifies the Borrower that the Required Lenders request an amendment to any provision
(including any definition) hereof for such purpose), regardless of whether any such notice is given before or after such change in GAAP or in the application thereof, then such provision shall be interpreted on the basis of GAAP as in effect and
applied immediately before such change shall have become effective until such notice shall have been withdrawn or such provision amended in accordance herewith. 
  

SECTION 1.05. Specified Transactions. Notwithstanding anything to the contrary herein, solely for purposes of determining the Interest Expense
Coverage Ratio and Leverage Ratio, with respect to any period during which any Specified Transaction occurs, such ratios shall be calculated with respect to such period and such Specified Transaction (and all other Specified Transactions that have
been consummated during such period) on a Pro Forma Basis. 
  
 ARTICLE II 
  
 The Credits 
  
 SECTION 2.01. Commitments. Subject to the terms and conditions set
forth herein, each Lender agrees (a) to make a Tranche B Term Loan to the Borrower on the Effective Date in a principal amount not exceeding its Tranche B Commitment and (b) to make Revolving Loans to the Borrower from time to time during
the Revolving Availability Period in an aggregate principal amount that will not result in such Lender’s Revolving Exposure exceeding such Lender’s Revolving Commitment. Within the foregoing limits and subject to the terms and conditions
set forth herein, the Borrower may borrow, prepay and reborrow Revolving Loans. Amounts repaid or prepaid in respect of Tranche B Term Loans may not be reborrowed. 
  
 SECTION 2.02. Loans and Borrowings. 
  
 (a) Each Loan (other than a Swingline Loan) shall be made as part of a Borrowing consisting of Loans of the same Class and
Type made by the Lenders ratably in accordance with their respective 
  

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 Commitments of the applicable Class. The failure of any Lender to make any Loan required to be made by it shall not
relieve any other Lender of its obligations hereunder, provided that the Commitments of the Lenders are several and no Lender shall be responsible for any other Lender’s failure to make Loans as required. 
  
 (b) Subject to Section 2.14, each Revolving Borrowing and Tranche B Term
Loan Borrowing shall be comprised entirely of ABR Loans or Eurodollar Loans as the Borrower may request in accordance herewith, provided that all Borrowings made on the Effective Date must be made as ABR Borrowings. Each Swingline Loan shall
be an ABR Loan. Each Lender at its option may make any Eurodollar Loan by causing any domestic or foreign branch or Affiliate of such Lender to make such Loan, provided that any exercise of such option shall not affect the obligation of the
Borrower to repay such Loan in accordance with the terms of this Agreement. 
  
 (c) At the commencement of each Interest Period for any Eurodollar Borrowing, such Borrowing shall be in an aggregate amount that is an integral multiple of $500,000 and not less than $2,000,000. At the time that each
ABR Borrowing is made, such Borrowing shall be in an aggregate amount that is an integral multiple of $500,000 and not less than $1,000,000; provided, that, notwithstanding the foregoing each Swingline Loan shall be in an integral multiple of
$100,000 and not less than $100,000. Borrowings of more than one Type and Class may be outstanding at the same time. There shall not at any time be more than a total of ten Eurodollar Borrowings outstanding. Notwithstanding anything to the contrary
herein, an ABR Revolving Borrowing or Swingline Loan may be in an aggregate amount (i) that is equal to the entire unused balance of the aggregate Revolving Commitments or (ii) that is required to finance the reimbursement of an LC
Disbursement as contemplated by Section 2.05(e). 
  
 (d)
Notwithstanding any other provision of this Agreement, the Borrower shall not be entitled to request, or to elect to convert or continue, any Borrowing if the Interest Period requested with respect thereto would end after the Revolving Maturity Date
or the Tranche B Maturity Date, as applicable. 
  
 SECTION 2.03.
Requests for Borrowings. To request a Revolving Borrowing or Tranche B Term Loan Borrowing, the Borrower shall notify the Administrative Agent of such request by telephone (a) in the case of a Eurodollar Borrowing, not later than 12:00
noon, New York City time, three Business Days before the date of the proposed Borrowing or (b) in the case of an ABR Borrowing, not later than 11:00 a.m., New York City time, on the date of the proposed Borrowing, provided that any such
notice of an ABR Revolving Borrowing to finance the reimbursement of an LC Disbursement as contemplated by Section 2.05(e) may be given not later than 10:00 a.m., New York City time, on the date of the proposed Borrowing. Each such telephonic
Borrowing Request shall be irrevocable and shall be confirmed promptly by hand delivery or telecopy to the Administrative Agent of a written Borrowing Request signed by the Borrower. Each such telephonic and written Borrowing Request shall specify
the following information in compliance with Section 2.02: 
  
 (i) whether the requested Borrowing is to be a Revolving Borrowing or a Tranche B Term Loan Borrowing; 
  
 (ii) the aggregate amount of such Borrowing; 
  
 (iii) the date of such Borrowing, which shall be a Business Day; 
  
 (iv) whether such Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing; 
  

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 (v) in the case of a Eurodollar Borrowing, the initial Interest Period to be applicable
thereto, which shall be a period contemplated by the definition of the term “Interest Period”; and 
  
 (vi) the location and number of the Borrower’s account to which funds are to be disbursed, which shall comply with the requirements
of Section 2.06. 
  
 If no election as to the Type of Borrowing is specified,
then the requested Borrowing shall be an ABR Borrowing. If no Interest Period is specified with respect to any requested Eurodollar Borrowing, then the Borrower shall be deemed to have selected an Interest Period of one month’s duration.
Promptly following receipt of a Borrowing Request in accordance with this Section 2.03, the Administrative Agent shall advise each Lender of the details thereof and of the amount of such Lender’s Loan to be made as part of the requested
Borrowing. 
  
 SECTION 2.04. Swingline Loans. 

 
 (a) Subject to the terms and conditions set forth herein, the Swingline
Lender agrees to make Swingline Loans to the Borrower from time to time during the Revolving Availability Period, in an aggregate principal amount at any time outstanding that will not result in (i) the aggregate principal amount of outstanding
Swingline Loans exceeding $10,000,000 or (ii) the aggregate Revolving Exposures exceeding the aggregate Revolving Commitments, provided that the Swingline Lender shall not be required to make a Swingline Loan to refinance an outstanding
Swingline Loan. Within the foregoing limits and subject to the terms and conditions set forth herein, the Borrower may borrow, prepay and reborrow Swingline Loans. 
  
 (b) To request a Swingline Loan, the Borrower shall notify the Administrative Agent of such request by telephone (confirmed
by telecopy), not later than 2:00 p.m., New York City time, on the day of a proposed Swingline Loan. Each such notice shall be irrevocable and shall specify the requested date (which shall be a Business Day) and amount of the requested Swingline
Loan. The Administrative Agent will promptly advise the Swingline Lender of any such notice received from the Borrower. The Swingline Lender shall make each Swingline Loan available to the Borrower by means of a credit to the general deposit account
of the Borrower maintained with the Swingline Lender (or, in the case of a Swingline Loan made to finance the reimbursement of an LC Disbursement as provided in Section 2.05(e), by remittance to the Issuing Bank) by 3:00 p.m., New York City
time, on the requested date of such Swingline Loan. 
  
 (c) The
Swingline Lender may by written notice given to the Administrative Agent not later than 12:00 noon, New York City time, on any Business Day require the Revolving Lenders to acquire participations on such Business Day in all or a portion of the
Swingline Loans outstanding. Such notice shall specify the aggregate amount of Swingline Loans in which Revolving Lenders will participate. Promptly upon receipt of such notice, the Administrative Agent will give notice thereof to each Revolving
Lender, specifying in such notice such Lender’s Applicable Percentage of such Swingline Loan or Swingline Loans. Each Revolving Lender hereby absolutely and unconditionally agrees, upon receipt of notice as provided above, to pay to the
Administrative Agent, for the account of the Swingline Lender, such Lender’s Applicable Percentage of such Swingline Loan or Swingline Loans. Each Revolving Lender acknowledges and agrees that its obligation to acquire participations in
Swingline Loans pursuant to this paragraph is absolute and unconditional and shall not be affected by any circumstance whatsoever, including the occurrence and continuance of a Default or reduction or termination of the Commitments, and that each
such payment shall be made without any offset, abatement, withholding or reduction whatsoever. Each Revolving Lender shall comply with its obligation under this paragraph by wire transfer of immediately available funds, in the same manner as
provided in Section 2.06 with respect to Loans made by such Lender (and Section 2.06 shall apply, mutatis mutandis, to the payment obligations of the Revolving 
  

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 Lenders), and the Administrative Agent shall promptly pay to the Swingline Lender the amounts so received by it from the
Revolving Lenders. The Administrative Agent shall notify the Borrower of any participations in any Swingline Loan acquired pursuant to this paragraph, and thereafter payments in respect of such Swingline Loan shall be made to the Administrative
Agent and not to the Swingline Lender. Any amounts received by the Swingline Lender from the Borrower (or other party on behalf of the Borrower) in respect of a Swingline Loan after receipt by the Swingline Lender of the proceeds of a sale of
participations therein shall be promptly remitted to the Administrative Agent; any such amounts received by the Administrative Agent shall be promptly remitted by the Administrative Agent to the Revolving Lenders that shall have made their payments
pursuant to this paragraph and to the Swingline Lender, as their interests may appear, provided that any such payment so remitted shall be repaid to the Swingline Lender or to the Administrative Agent, as applicable, if and to the extent such
payment is required to be refunded to the Borrower for any reason. The purchase of participations in a Swingline Loan pursuant to this paragraph shall not relieve the Borrower of any default in the payment thereof. 
  
 SECTION 2.05. Letters of Credit. 
  
 (a) General. Subject to the terms and conditions set forth herein,
the Borrower may request the issuance of Letters of Credit for its own account (or for the account of any of its subsidiaries so long as the Borrower is a co-applicant), in a form reasonably acceptable to the Administrative Agent and the Issuing
Bank, at any time and from time to time during the Revolving Availability Period. In the event of any inconsistency between the terms and conditions of this Agreement and the terms and conditions of any form of letter of credit application or other
agreement submitted by the Borrower to, or entered into by the Borrower with, the Issuing Bank relating to any Letter of Credit, the terms and conditions of this Agreement shall control. 
  
 (b) Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To request the issuance of a Letter of
Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), the Borrower shall hand deliver or telecopy (or transmit by electronic communication, if arrangements for doing so have been approved by the Issuing Bank) to the
Issuing Bank and the Administrative Agent (reasonably in advance of the requested date of issuance, amendment, renewal or extension) a notice requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed
or extended, and specifying the date of issuance, amendment, renewal or extension (which shall be a Business Day), the date on which such Letter of Credit is to expire (which shall comply with paragraph (c) of this Section 2.05), the
amount of such Letter of Credit, the name and address of the beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit. If requested by the Issuing Bank, the Borrower also shall
submit a letter of credit application on the Issuing Bank’s standard form in connection with any request for a Letter of Credit. A Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or
extension of each Letter of Credit the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension, (i) the LC Exposure shall not exceed $20,000,000 and (ii) the aggregate
Revolving Exposures shall not exceed the aggregate Revolving Commitments. 
  
 (c) Expiration Date. Each Letter of Credit shall expire at or prior to the close of business on the earlier of (i) the date that is one year after the date of the issuance of such Letter of Credit (or, in
the case of any renewal or extension thereof, one year after such renewal or extension) and (ii) the date that is five Business Days prior to the Revolving Maturity Date. 
  
 (d) Participations. By the issuance of a Letter of Credit (or an amendment to a Letter of Credit increasing the
amount thereof) and without any further action on the part of the Issuing Bank or 
  

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 the Lenders, the Issuing Bank hereby grants to each Revolving Lender, and each Revolving Lender hereby acquires from the
Issuing Bank, a participation in such Letter of Credit equal to such Lender’s Applicable Percentage of the aggregate amount available to be drawn under such Letter of Credit. In consideration and in furtherance of the foregoing, each Revolving
Lender hereby absolutely and unconditionally agrees to pay to the Administrative Agent, for the account of the Issuing Bank, such Lender’s Applicable Percentage of each LC Disbursement made by the Issuing Bank and not reimbursed by the Borrower
on the date due as provided in paragraph (e) of this Section 2.05, or of any reimbursement payment required to be refunded to the Borrower for any reason. Each Revolving Lender acknowledges and agrees that its obligation to acquire
participations pursuant to this paragraph in respect of Letters of Credit is absolute and unconditional and shall not be affected by any circumstance whatsoever, including any amendment, renewal or extension of any Letter of Credit or the occurrence
and continuance of a Default or reduction or termination of the Commitments, and that each such payment shall be made without any offset, abatement, withholding or reduction whatsoever. 
  
 (e) Reimbursement. If the Issuing Bank shall make any LC Disbursement in respect of a Letter of Credit, the Borrower
shall reimburse such LC Disbursement by paying to the Administrative Agent an amount equal to such LC Disbursement not later than 12:00 noon, New York City time, on (i) the date that such LC Disbursement is made, if the Borrower shall have
received notice of such LC Disbursement prior to 10:00 a.m., New York City time, on such date, or, if such notice has not been received by the Borrower prior to such time on such date, then not later than 12:00 noon, New York City time, on the
Business Day that the Borrower receives such notice, if such notice is received prior to 10:00 a.m., New York City time, on the day of receipt, or (ii) the Business Day immediately following the day that the Borrower receives such notice,
if such notice is not received prior to such time on the day of receipt; provided that, if such LC Disbursement is not less than $2,000,000, the Borrower may, subject to the conditions to borrowing set forth herein, request (and, if the
Borrower fails to reimburse such LC Disbursement when due, the Borrower shall be deemed to have requested) in accordance with Section 2.03 or 2.04 that such LC Disbursement be financed with an ABR Revolving Borrowing or Swingline Loan in an
equivalent amount and, to the extent so financed, the Borrower’s obligation to make such payment shall be discharged and replaced by the resulting ABR Revolving Borrowing or Swingline Loan (and the time for reimbursement of such LC Disbursement
shall automatically be extended to the Business Day following such request or deemed request). If the Borrower fails to make such payment when due, the Administrative Agent shall notify each Revolving Lender of the applicable LC Disbursement, the
payment then due from the Borrower in respect thereof and such Lender’s Applicable Percentage thereof. Promptly following receipt of such notice, each Revolving Lender shall pay to the Administrative Agent its Applicable Percentage of the
payment then due from the Borrower, in the same manner as provided in Section 2.06 with respect to Loans made by such Lender (and Section 2.06 shall apply, mutatis mutandis, to the payment obligations of the Revolving
Lenders), and the Administrative Agent shall promptly pay to the Issuing Bank the amounts so received by it from the Revolving Lenders. Promptly following receipt by the Administrative Agent of any payment from the Borrower pursuant to this
paragraph, the Administrative Agent shall distribute such payment to the Issuing Bank or, to the extent that Revolving Lenders have made payments pursuant to this paragraph to reimburse the Issuing Bank, then to such Lenders and the Issuing Bank as
their interests may appear. Any payment made by a Revolving Lender pursuant to this paragraph to reimburse the Issuing Bank for any LC Disbursement (other than the funding of ABR Revolving Loans or a Swingline Loan as contemplated above) shall not
constitute a Loan and shall not relieve the Borrower of its obligation to reimburse such LC Disbursement. 
  
 (f) Obligations Absolute. The Borrower’s obligation to reimburse LC Disbursements as provided in paragraph (e) of this Section 2.05
shall be absolute, unconditional and irrevocable, and shall be performed strictly in accordance with the terms of this Agreement under any and all circumstances whatsoever and irrespective of (i) any lack of validity or enforceability of any
Letter of Credit or 
  

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 this Agreement, or any term or provision therein, (ii) any draft or other document presented under a Letter of
Credit proving to be forged, fraudulent or invalid in any respect or any statement therein being untrue or inaccurate in any respect, (iii) payment by the Issuing Bank under a Letter of Credit against presentation of a draft or other document
that does not comply with the terms of such Letter of Credit, or (iv) any other event or circumstance whatsoever, whether or not similar to any of the foregoing, that might, but for the provisions of this Section 2.05, constitute a legal
or equitable discharge of, or provide a right of setoff against, the Borrower’s obligations hereunder. Neither the Administrative Agent, the Lenders nor the Issuing Bank, nor any of their Related Parties, shall have any liability or
responsibility by reason of or in connection with the issuance or transfer of any Letter of Credit or any payment or failure to make any payment thereunder (irrespective of any of the circumstances referred to in the preceding sentence), or any
error, omission, interruption, loss or delay in transmission or delivery of any draft, notice or other communication under or relating to any Letter of Credit (including any document required to make a drawing thereunder), any error in
interpretation of technical terms or any consequence arising from causes beyond the control of the Issuing Bank, provided that the foregoing shall not be construed to excuse the Issuing Bank from liability to the Borrower to the extent of any
direct damages (as opposed to consequential or punitive damages, claims in respect of which are hereby waived by the Borrower to the extent permitted by applicable law) suffered by the Borrower that are caused by the Issuing Bank’s failure to
exercise care when determining whether drafts and other documents presented under a Letter of Credit comply with the terms thereof. The parties hereto expressly agree that, in the absence of gross negligence or willful misconduct on the part of the
Issuing Bank (as finally determined by a court of competent jurisdiction), the Issuing Bank shall be deemed to have exercised care in each such determination. In furtherance of the foregoing and without limiting the generality thereof, the parties
agree that, with respect to documents presented that appear on their face to be in substantial compliance with the terms of a Letter of Credit, the Issuing Bank may, in its sole discretion, either accept and make payment upon such documents without
responsibility for further investigation, regardless of any notice or information to the contrary, or refuse to accept and make payment upon such documents if such documents are not in strict compliance with the terms of such Letter of Credit.

  
 (g) Disbursement Procedures. The Issuing Bank shall,
promptly following its receipt thereof, examine all documents purporting to represent a demand for payment under a Letter of Credit. The Issuing Bank shall promptly notify the Administrative Agent and the Borrower by telephone (confirmed by
telecopy) of such demand for payment and whether the Issuing Bank has made or will make an LC Disbursement thereunder, provided that any failure to give or delay in giving such notice shall not relieve the Borrower of its obligation to
reimburse the Issuing Bank and the Revolving Lenders with respect to any such LC Disbursement in accordance with paragraph (e) of this Section 2.05. 
  

(h) Interim Interest. If the Issuing Bank shall make any LC Disbursement, then, unless the Borrower shall reimburse such LC Disbursement in full
on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date that the Borrower reimburses such LC Disbursement, at the rate
per annum then applicable to ABR Revolving Loans, provided that, if the Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section 2.05, then Section 2.13(c) shall apply. Interest
accrued pursuant to this paragraph shall be for the account of the Issuing Bank, except that interest accrued on and after the date of payment by any Revolving Lender pursuant to paragraph (e) of this Section 2.05 to reimburse the Issuing
Bank shall be for the account of such Lender to the extent of such payment. 
  
 (i) Replacement of the Issuing Bank. The Issuing Bank may be replaced at any time by written agreement among the Borrower, the Administrative Agent and the successor Issuing Bank. The Administrative Agent shall
notify the Lenders of any such replacement of the Issuing Bank. At the 
  

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 time any such replacement shall become effective, the Borrower shall pay all unpaid fees accrued for the account of the
replaced Issuing Bank pursuant to Section 2.12(b). From and after the effective date of any such replacement, (i) the successor Issuing Bank shall have all the rights and obligations of the Issuing Bank under this Agreement with respect to
Letters of Credit to be issued thereafter and (ii) references herein to the term “Issuing Bank” shall be deemed to refer to such successor or to any previous Issuing Bank, or to such successor and all previous Issuing Banks, as the
context shall require. After the replacement of the Issuing Bank hereunder, the replaced Issuing Bank shall remain a party hereto and shall continue to have all the rights and obligations of the Issuing Bank under this Agreement with respect to
Letters of Credit issued by it prior to such replacement, but shall not be required to issue additional Letters of Credit. 
  
 (j) Cash Collateralization. If any Event of Default shall occur and be continuing, on the Business Day that the Borrower receives notice from the
Administrative Agent or the Required Lenders (or, if the maturity of the Loans has been accelerated, Revolving Lenders with LC Exposure representing greater than 50% of the aggregate LC Exposure) demanding the deposit of cash collateral pursuant to
this paragraph, the Borrower shall deposit in an account with the Collateral Agent, in the name of the Collateral Agent and for the benefit of the Lenders, an amount in cash equal to 105% the LC Exposure as of such date plus any accrued and
unpaid interest thereon, provided that the obligation to deposit such cash collateral shall become effective immediately, and such deposit shall become immediately due and payable, without demand or other notice of any kind, upon the
occurrence of any Event of Default with respect to the Borrower described in paragraph (h) or (i) of Section 7.01. The Borrower also shall deposit cash collateral pursuant to this paragraph as and to the extent required by
Section 2.11(b). Each such deposit shall be held by the Collateral Agent as collateral for the payment and performance of the Obligations of the Borrower under this Agreement. The Collateral Agent shall have exclusive dominion and control,
including the exclusive right of withdrawal, over such account. Other than any interest earned on the investment of such deposits, which investments shall be made at the option and sole discretion of the Administrative Agent and at the
Borrower’s risk and expense, such deposits shall not bear interest. Interest or profits, if any, on such investments shall accumulate in such account. Moneys in such account shall be applied by the Administrative Agent to reimburse the Issuing
Bank for LC Disbursements for which it has not been reimbursed and, to the extent not so applied, shall be held for the satisfaction of the reimbursement obligations of the Borrower for the LC Exposure at such time or, if the maturity of the Loans
has been accelerated (but subject to the consent of Revolving Lenders with LC Exposure representing greater than 50% of the aggregate LC Exposure), be applied to satisfy other obligations of the Borrower under this Agreement. If the Borrower is
required to provide an amount of cash collateral hereunder as a result of the occurrence of an Event of Default, such amount (to the extent not applied as aforesaid) shall be returned to the Borrower within three Business Days after all Events of
Default have been cured or waived. 
  
 (k) Additional Issuing
Banks. The Borrower may at any time, and from time to time, designate one or more additional Lenders to act as an issuing bank under this Agreement with the consent of the Administrative Agent (which consent shall not be unreasonably withheld)
and such Lender. Any Lender designated as an issuing bank pursuant to this Section 2.05(k) shall be deemed to be and shall have all the rights and obligations of an “Issuing Bank” hereunder. 
  
 SECTION 2.06. Funding of Borrowings. 
  
 (a) Each Lender shall make each Loan to be made by it hereunder on the
proposed date thereof by wire transfer of immediately available funds by 12:00 noon, New York City time, to the account of the Administrative Agent most recently designated by it for such purpose by notice to the Lenders, provided that
Swingline Loans shall be made as provided in Section 2.04. The Administrative 
  

 -34- 

 Agent will make such Loans available to the Borrower by promptly crediting the amounts so received, in like funds, to an
account of the Borrower maintained with the Administrative Agent in New York City and designated by the Borrower in the applicable Borrowing Request, provided that ABR Revolving Loans made to finance the reimbursement of an LC Disbursement as
provided in Section 2.05(e) shall be remitted by the Administrative Agent to the Issuing Bank. 
  
 (b) Unless the Administrative Agent shall have received notice from a Lender prior to the proposed Borrowing that such Lender will not make available to
the Administrative Agent such Lender’s share of such Borrowing, the Administrative Agent may assume that such Lender has made such share available on such date in accordance with paragraph (a) of this Section 2.06 and may, in reliance
upon such assumption and in its sole discretion, make available to the Borrower a corresponding amount. In such event, if a Lender has not in fact made its share of the applicable Borrowing available to the Administrative Agent, then the applicable
Lender and the Borrower severally agree to pay to the Administrative Agent forthwith on demand such corresponding amount with interest thereon, for each day from and including the date such amount is made available to the Borrower to but excluding
the date of payment to the Administrative Agent, at (i) in the case of such Lender, the greater of the Federal Funds Effective Rate and a rate determined by the Administrative Agent in accordance with banking industry rules on interbank
compensation or (ii) in the case of the Borrower, the interest rate applicable to ABR Loans. If such Lender pays such amount to the Administrative Agent, then such amount shall constitute such Lender’s Loan included in such Borrowing.

  
 SECTION 2.07. Interest Elections. 
  
 (a) Each Revolving Borrowing and Tranche B Term Loan Borrowing initially
shall be of the Type specified in the applicable Borrowing Request and, in the case of a Eurodollar Borrowing, shall have an initial Interest Period as specified in such Borrowing Request or as designated by Section 2.03. Thereafter, the
Borrower may elect to convert such Borrowing to a different Type or to continue such Borrowing and, in the case of a Eurodollar Borrowing, may elect Interest Periods therefor, all as provided in this Section 2.07. The Borrower may elect
different options with respect to different portions of the affected Borrowing, in which case each such portion shall be allocated ratably among the Lenders holding the Loans comprising such Borrowing, and the Loans comprising each such portion
shall be considered a separate Borrowing. This Section 2.07 shall not apply to Swingline Borrowings, which may not be converted or continued. 
  
 (b) To make an election pursuant to this Section 2.07, the Borrower shall notify the Administrative Agent of such election by telephone by the time
that a Borrowing Request would be required under Section 2.03 if the Borrower were requesting a Revolving Borrowing of the Type resulting from such election to be made on the effective date of such election. Each such telephonic Interest
Election Request shall be irrevocable and shall be confirmed promptly by hand delivery or telecopy to the Administrative Agent of a written Interest Election Request signed by the Borrower. 
  
 (c) Each telephonic and written Interest Election Request shall specify the
following information in compliance with Section 2.02: 
  
 (i) the Borrowing to which such Interest Election Request applies and, if different options are being elected with respect to different portions thereof, the portions thereof to be allocated to each resulting
Borrowing (in which case the information to be specified pursuant to clauses (iii) and (iv) below shall be specified for each resulting Borrowing); 
  

(ii) the effective date of the election made pursuant to such Interest Election Request, which shall be a Business Day; 
  

 -35- 

 (iii) whether the resulting Borrowing is to be an ABR Borrowing or a Eurodollar
Borrowing; and 
  
 (iv) if the resulting
Borrowing is a Eurodollar Borrowing, the Interest Period to be applicable thereto after giving effect to such election, which shall be a period contemplated by the definition of the term “Interest Period”. 
  
 If any such Interest Election Request requests a Eurodollar Borrowing but does not specify an
Interest Period, then the Borrower shall be deemed to have selected an Interest Period of one month’s duration. 
  
 (d) Promptly following receipt of an Interest Election Request, the Administrative Agent shall advise each Lender of the details thereof and of such
Lender’s portion of each resulting Borrowing. 
  
 (e) If the
Borrower fails to deliver a timely Interest Election Request with respect to a Eurodollar Borrowing prior to the end of the Interest Period applicable thereto, then, unless such Borrowing is repaid as provided herein, at the end of such Interest
Period such Borrowing shall be converted to an ABR Borrowing. 
  
 (f) Notwithstanding any contrary provision hereof, if an Event of Default has occurred and is continuing and the Administrative Agent, at the request of the Required Lenders, so notifies the Borrower, then, so long as an Event of Default is
continuing, (i) no outstanding Borrowing may be converted to or continued as a Eurodollar Borrowing and (ii) unless repaid, each Eurodollar Borrowing shall be converted to an ABR Borrowing at the end of the Interest Period applicable
thereto. 
  
 SECTION 2.08. Termination and Reduction of
Commitments. 
  
 (a) Unless previously terminated,
(i) the Tranche B Commitments shall terminate at 5:00 p.m., New York City time, on the Effective Date and (ii) the Revolving Commitments shall terminate on the Revolving Maturity Date. 
  
 (b) The Borrower may at any time terminate, or from time to time reduce, the
Commitments of any Class, provided that (i) each reduction of the Commitments of any Class shall be in an amount that is an integral multiple of $500,000 and not less than $1,000,000 and (ii) the Borrower shall not terminate or
reduce the Revolving Commitments if, after giving effect to any concurrent prepayment of the Revolving Loans in accordance with Section 2.11, the aggregate Revolving Exposures would exceed the aggregate Revolving Commitments. 
  
 (c) The Borrower shall notify the Administrative Agent of any election to
terminate or reduce the Commitments under paragraph (b) of this Section 2.08 at least three Business Days prior to the effective date of such termination or reduction, specifying such election and the effective date thereof. Promptly
following receipt of any notice, the Administrative Agent shall advise the Lenders of the contents thereof. Each notice delivered by the Borrower pursuant to this Section 2.08 shall be irrevocable, provided that a notice of termination
of the Revolving Commitments delivered by the Borrower may state that such notice is conditioned upon the effectiveness of other credit facilities, in which case such notice may be revoked by the Borrower (by notice to the Administrative Agent on or
prior to the specified effective date) if such condition is not satisfied. Any termination or reduction of the Commitments of any Class shall be permanent. Each reduction of the Commitments of any Class shall be made ratably among the Lenders in
accordance with their respective Commitments of such Class. 
  

 -36- 

 SECTION 2.09. Repayment of Loans; Evidence of Debt. 
  
 (a) The Borrower hereby unconditionally promises to pay (i) to the
Administrative Agent for the account of each Lender the then unpaid principal amount of each Revolving Loan of such Lender on the Revolving Maturity Date, (ii) to the Administrative Agent for the account of each Lender the then unpaid principal
amount of each Tranche B Term Loan of such Lender as provided in Section 2.10 and (iii) the then unpaid principal amount of each Swingline Loan on the earlier of the Revolving Maturity Date and the first date after such Swingline Loan is
made that is the 15th or last day of a calendar month and is at least two Business Days after such Swingline Loan is made; provided that on each date that a Revolving Borrowing is made, the Borrower shall repay all Swingline Loans then
outstanding. 
  
 (b) Each Lender shall maintain in accordance with
its usual practice an account or accounts evidencing the indebtedness of the Borrower to such Lender resulting from each Loan made by such Lender, including the amounts of principal and interest payable and paid to such Lender from time to time
hereunder. 
  
 (c) The Administrative Agent shall maintain
accounts in which it shall record (i) the amount of each Loan made hereunder, the Class and Type thereof and the Interest Period applicable thereto, (ii) the amount of any principal or interest due and payable or to become due and payable
from the Borrower to each Lender hereunder and (iii) the amount of any sum received by the Administrative Agent hereunder for the account of the Lenders and each Lender’s share thereof. 
  
 (d) The entries made in the accounts maintained pursuant to paragraph
(b) or (c) of this Section 2.09 shall be prima facie evidence of the existence and amounts of the obligations recorded therein, provided that the failure of any Lender or the Administrative Agent to maintain such
accounts or any error therein shall not in any manner affect the obligation of the Borrower to repay the Loans in accordance with the terms of this Agreement. 
  

(e) Any Lender may request that Loans of any Class made by it be evidenced by a promissory note. In such event, the Borrower shall prepare, execute and
deliver to such Lender a promissory note payable to the order of such Lender (or, if requested by such Lender, to such Lender and its registered assigns) and in a form approved by the Administrative Agent. Thereafter, the Loans evidenced by such
promissory note and interest thereon shall at all times (including after assignment pursuant to Section 9.04) be represented by one or more promissory notes in such form payable to the order of the payee named therein (or, if such promissory
note is a registered note, to such payee and its registered assigns). 
  
 SECTION 2.10. Amortization of Tranche B Term Loans. 
  
 (a) Subject to adjustment pursuant to paragraph (c) of this Section 2.10, the Borrower shall repay Tranche B Term Loan Borrowings on each date set forth below in the aggregate principal amount set forth opposite such date (as
adjusted from time to time pursuant to Section 2.10(c)): 
  

				
	 Date

	  	Amount

	 June 30, 2006
	  	$	508,750
	 September 30, 2006
	  	$	508,750
	 December 31, 2006
	  	$	508,750
	 March 31, 2007
	  	$	508,750
	 June 30, 2007
	  	$	508,750
	 September 30, 2007
	  	$	508,750
	 December 31, 2007
	  	$	508,750

  

 -37- 

				
	 Date

	  	Amount

	 March 30, 2008
	  	$	508,750
	 June 30, 2008
	  	$	508,750
	 September 30, 2008
	  	$	508,750
	 December 31, 2008
	  	$	508,750
	 March 31, 2009
	  	$	508,750
	 June 30, 2009
	  	$	508,750
	 September 30, 2009
	  	$	508,750
	 December 31, 2009
	  	$	508,750
	 March 31, 2010
	  	$	508,750
	 June 30, 2010
	  	$	508,750
	 September 30, 2010
	  	$	508,750
	 December 31, 2010
	  	$	508,750
	 March 31, 2011
	  	$	508,750
	 June 30, 2011
	  	$	508,750
	 September 30, 2011
	  	$	508,750
	 December 31, 2011
	  	$	508,750
	 March 31, 2012
	  	$	508,750
	 June 30, 2012
	  	$	508,750
	 September 30, 2012
	  	$	508,750
	 Tranche B Maturity Date
	  	$	190,272,500

  
 (b) To the extent not
previously paid, all Tranche B Term Loans shall be due and payable on the Tranche B Maturity Date. 
  
 (c) Any mandatory prepayment of a Tranche B Term Loan Borrowing shall be applied (i) first, to reduce, in the direct order of maturity, the
scheduled repayments of the Tranche B Term Loan Borrowings to be made pursuant to this Section 2.10 on the four consecutive scheduled payment dates next following the date of such prepayment unless and until each such scheduled repayment has
been eliminated as a result of reductions hereunder; and (ii) second, to reduce ratably the remaining scheduled repayments of the Tranche B Term Loan Borrowings. Any optional prepayment of a Term Loan Borrowing shall be applied as
directed by the Borrower to do one of the following: (i) to reduce in the direct order of maturity the scheduled repayments of the Tranche B Term Loan Borrowings to be made pursuant to this Section 2.10, (ii) to reduce in the inverse
order of maturity the scheduled repayments of the Tranche B Term Loan Borrowings to be made pursuant to this Section 2.10 or (iii) to reduce ratably the remaining scheduled repayments of the Tranche B Term Loan Borrowing. 
  
 SECTION 2.11. Prepayment of Loans. 
  
 (a) The Borrower shall have the right at any time and from time to time to
prepay any Borrowing in whole or in part, subject to the requirements of this Section 2.11. 
  
 (b) In the event and on such occasion that the aggregate Revolving Exposures exceeds the aggregate Revolving Commitments, the Borrower shall prepay
Revolving Borrowings or Swingline Borrowings (or, if no such Borrowings are outstanding, deposit cash collateral in an account with the Collateral Agent pursuant to Section 2.05(j)) in an aggregate amount equal to such excess. 
  
 (c) In the event and on each occasion that any Net Proceeds are received by
or on behalf of Holdings, the Borrower or any Subsidiary in respect of any Prepayment Event, the Borrower 
  

 -38- 

 shall, promptly after such Net Proceeds are received by Holdings, the Borrower or such Subsidiary (and in any event not
later than the fifth Business Day after such Net Proceeds are received), prepay Tranche B Term Loan Borrowings in an aggregate amount equal to: 
  
 (x) in the case of a prepayment event described in clause (c) of the definition of the term “Prepayment Event”,
(I) 50% of such Net Proceeds if the Leverage Ratio at the end of the immediately preceding fiscal quarter for which financial statements are available is greater than 3.75 to 1.00, (II) 25% of such Net Proceeds if the Leverage Ratio at the
end of the immediately preceding fiscal quarter for which financial statements are available is greater than 3.25 to 1.00 and less than or equal to 3.75 to 1.00 and (III) none of such Net Proceeds if the Leverage Ratio at the end of the
immediately preceding fiscal quarter is less than or equal to 3.25 to 1.00, and 
  
 (y) in the case of all other Prepayment Events, 100% of such Net Proceeds, 
  
 provided that in the case of any event described in clause (a) or (b) of the definition of the term “Prepayment
Event”, if the Borrower shall deliver to the Administrative Agent a certificate of a Financial Officer to the effect that the Borrower and the Subsidiaries intend to apply the Net Proceeds from such event (or a portion thereof specified in such
certificate), within 360 days after receipt of such Net Proceeds, to acquire or replace real property, equipment or other tangible assets (excluding inventory) to be used in the business of the Borrower and the Subsidiaries, and certifying that no
Default has occurred and is continuing, then no prepayment shall be required pursuant to this paragraph in respect of the Net Proceeds specified in such certificate, except to the extent of any such Net Proceeds therefrom that have not been so
applied or contractually committed in writing by the end of such 360-day period (and, if so contractually committed in writing but not applied prior to the end of such 360-day period, applied within 90 days of the end of such period), promptly after
which time a prepayment shall be required in an amount equal to such Net Proceeds that have not been so applied. 
  
 (d) Following the end of each fiscal year of the Borrower, commencing with the fiscal year ending December 31, 2006, the Borrower shall prepay
Tranche B Term Loan Borrowings in an aggregate amount equal to: 
  
 (x) the excess of (A) 50% of Excess Cash Flow over (B) prepayments of Tranche B Term Loans under Section 2.11(a) during such fiscal year (other than prepayments with the proceeds from sales of Permitted
Securities and Qualified Holdings Debt) for any fiscal year for which the Leverage Ratio at the end of such fiscal year is greater than 3.75 to 1.00, 
  
 (y) the excess of (A) 25% of Excess Cash Flow over (B) prepayments of Tranche B Term Loans under Section 2.11(a) during
such fiscal year for any fiscal year (other than prepayments with the proceeds from sales of Permitted Securities and Qualified Holdings Debt) for which the Leverage Ratio at the end of such fiscal year is less than or equal to 3.75 to 1.00 and
greater than 3.25 to 1.00 and 
  
 (z) none of
Excess Cash Flow for any fiscal year for which the Leverage Ratio at the end of such fiscal year is less than or equal to 3.25 to 1.00. 
  
 Excess Cash Flow for the fiscal year ending December 31, 2006 shall be measured for the period commencing on the Closing Date and ending on
December 31, 2006. Each prepayment pursuant to this paragraph shall be made within five Business Days of the date on which financial statements are delivered pursuant to Section 5.01 with respect to the fiscal year for which Excess Cash
Flow is being calculated (and in any event within 95 days after the end of such fiscal year). 
  

 -39- 

 (e) Prior to any optional or mandatory prepayment of Borrowings hereunder, the Borrower shall determine
in accordance with Section 2.10(c) the Borrowing or Borrowings to be prepaid and shall specify such determination in the notice of such prepayment pursuant to paragraph (f) of this Section 2.11. 
  
 (f) The Borrower shall notify the Administrative Agent (and, in the case of
prepayment of a Swingline Loan, the Swingline Lender) by telephone (confirmed by telecopy) of any prepayment hereunder (i) in the case of prepayment of a Eurodollar Borrowing, not later than 12:00 noon, New York City time, three Business Days
before the date of prepayment, (ii) in the case of prepayment of an ABR Borrowing, not later than 11:00 a.m., New York City time, on the date of prepayment or (iii) in the case of prepayment of a Swingline Loan, not later than 2:00 p.m.,
New York City time, on the date of prepayment. Each such notice shall be irrevocable and shall specify the prepayment date, the principal amount of each Borrowing or portion thereof to be prepaid and, in the case of a mandatory prepayment, a
reasonably detailed calculation of the amount of such prepayment, provided that, if a notice of optional prepayment is given in connection with a conditional notice of termination of the Revolving Commitments as contemplated by
Section 2.08, then such notice of prepayment may be revoked if such notice of termination is revoked in accordance with Section 2.08. Promptly following receipt of any such notice (other than a notice relating solely to Swingline Loans),
the Administrative Agent shall advise the Lenders of the contents thereof. Each partial prepayment of any Borrowing shall be in an amount that would be permitted in the case of an advance of a Borrowing of the same Type as provided in
Section 2.02, except as necessary to apply fully the required amount of a mandatory prepayment. Each prepayment of a Borrowing shall be applied ratably to the Loans included in the prepaid Borrowing. Prepayments shall be accompanied by accrued
interest to the extent required by Section 2.13 but shall in no event include premium or penalty. 
  
 (g) All Swap Agreements, if any, between Borrower and any of the Lenders or their respective affiliates are independent agreements governed by the written
provisions of said Swap Agreements, which will remain in full force and effect, unaffected by any repayment, prepayment, acceleration, reduction, increase or change in the terms of the Loans, except as otherwise expressly provided in said written
Swap Agreements, and any payoff statement from the Lenders relating to the Loans shall not apply to said Swap Agreements except as otherwise expressly provided in such payoff statement. 
  
 SECTION 2.12. Fees. 
  
 (a) The Borrower agrees to pay to the Administrative Agent for the account of each Lender a commitment fee, which shall accrue at the Applicable Rate on
the average daily unused amount of each Revolving Commitment of such Lender during the period from and including the Effective Date to but excluding the date on which the aggregate Revolving Commitments terminate. Accrued commitment fees shall be
payable in arrears in respect of the Revolving Commitments, on the last Business Day of March, June, September and December of each year and on the date on which the Revolving Commitments terminate, commencing on the first such date to occur after
the date hereof. All commitment fees shall be computed on the basis of a year of 360 days and shall be payable for the actual number of days elapsed (including the first day but excluding the last day). For purposes of computing commitment fees with
respect to Revolving Commitments, a Revolving Commitment of a Lender shall be deemed to be used to the extent of the outstanding Revolving Loans and LC Exposure of such Lender (and the Swingline Exposure of such Lender shall be disregarded for such
purpose). 
  
 (b) The Borrower agrees to pay (i) to the
Administrative Agent for the account of each Revolving Lender a participation fee with respect to its participations in Letters of Credit, which shall accrue at the same Applicable Rate used to determine the interest rate applicable to Eurodollar
Revolving 
  

 -40- 

 Loans on the average daily amount of such Lender’s LC Exposure (excluding any portion thereof attributable to
unreimbursed LC Disbursements) during the period from and including the Effective Date to but excluding the later of the date on which such Lender’s Revolving Commitment terminates and the date on which such Lender ceases to have any LC
Exposure, and (ii) to the Issuing Bank a fronting fee, which shall accrue at a rate equal to 0.125% per annum on the average daily amount of the LC Exposure (excluding any portion thereof attributable to unreimbursed LC Disbursements)
during the period from and including the Effective Date to but excluding the later of the date of termination of the Revolving Commitments and the date on which there ceases to be any LC Exposure, as well as the Issuing Bank’s standard fees
with respect to the issuance, amendment, renewal or extension of any Letter of Credit or processing of drawings thereunder. Participation fees and fronting fees shall be payable on the last Business Day of March, June, September and December of each
year, commencing on the first such date to occur after the Effective Date, provided that all such fees shall be payable on the date on which the Revolving Commitments terminate and any such fees accruing after the date on which the Revolving
Commitments terminate shall be payable on demand. Any other fees payable to the Issuing Bank pursuant to this paragraph shall be payable within 10 days after demand. All participation fees and fronting fees shall be computed on the basis of a year
of 360 days and shall be payable for the actual number of days elapsed (including the first day but excluding the last day). 
  
 (c) The Borrower agrees to pay to the Administrative Agent, for its own account, fees payable in the amounts and at the times separately agreed upon
between the Borrower and the Administrative Agent. 
  
 (d) All
fees payable hereunder shall be paid on the dates due, in immediately available funds, to the Administrative Agent (or to the Issuing Bank, in the case of fees payable to it) for distribution, in the case of commitment fees and participation fees,
to the Lenders entitled thereto. Fees paid shall not be refundable under any circumstances. 
  
 SECTION 2.13. Interest. 
  
 (a) The Loans comprising each ABR Borrowing (including each Swingline Loan) shall bear interest at the Alternate Base Rate plus the Applicable Rate. 
  
 (b) The Loans comprising each Eurodollar Borrowing shall bear interest at the Adjusted LIBO Rate for the Interest Period in
effect for such Borrowing plus the Applicable Rate. 
  
 (c)
Notwithstanding the foregoing, if any principal of or interest on any Loan or any fee or other amount payable by the Borrower hereunder is not paid when due, whether at stated maturity, upon acceleration or otherwise, such overdue amount shall bear
interest, after as well as before judgment, at a rate per annum equal to (i) in the case of overdue principal of any Loan, 2% plus the rate otherwise applicable to such Loan as provided in the preceding paragraphs of this
Section 2.13 or (ii) in the case of any other amount, 2% plus the rate applicable to ABR Revolving Loans as provided in paragraph (a) of this Section 2.13. 
  
 (d) Accrued interest on each Loan shall be payable in arrears on each Interest Payment Date for such Loan and, in the case
of Revolving Loans, upon termination of the Revolving Commitments, provided that (i) interest accrued pursuant to paragraph (c) of this Section 2.13 shall be payable on demand, (ii) in the event of any repayment or
prepayment of any Loan (other than a prepayment of an ABR Revolving Loan prior to the end of the Revolving Availability Period), accrued interest on the principal amount repaid or prepaid shall be payable on the date of such repayment or prepayment
and (iii) in the event of any conversion of any Eurodollar Loan prior to the end of the current Interest Period therefor, accrued interest on such Loan shall be payable on the effective date of such conversion. 
  

 -41- 

 (e) All interest hereunder shall be computed on the basis of a year of 360 days, except that interest
computed by reference to the Alternate Base Rate at times when the Alternate Base Rate is based on the Prime Rate shall be computed on the basis of a year of 365 days (or 366 days in a leap year), and in each case shall be payable for the actual
number of days elapsed (including the first day but excluding the last day). The applicable Alternate Base Rate or Adjusted LIBO Rate shall be determined by the Administrative Agent, and such determination shall be conclusive absent manifest error.

  
 SECTION 2.14. Alternate Rate of Interest. If prior to
the commencement of any Interest Period for a Eurodollar Borrowing: 
  
 (a) the Administrative Agent determines (which determination shall be conclusive absent manifest error) that adequate and reasonable means do not exist for ascertaining the Adjusted LIBO Rate for such Interest Period;
or 
  
 (b) the Administrative Agent is advised by
the Required Lenders that the Adjusted LIBO Rate for such Interest Period will not adequately and fairly reflect the cost to such Lenders of making or maintaining their Loans included in such Borrowing for such Interest Period; 
  
 then the Administrative Agent shall give notice thereof to the Borrower and the Lenders by
telephone or telecopy as promptly as practicable thereafter and, until the Administrative Agent notifies the Borrower and the Lenders that the circumstances giving rise to such notice no longer exist, (i) any Interest Election Request that
requests the conversion of any Borrowing to, or continuation of any Borrowing as, a Eurodollar Borrowing shall be ineffective and (ii) if any Borrowing Request requests a Eurodollar Borrowing, such Borrowing shall be made as an ABR Borrowing.

  
 SECTION 2.15. Increased Costs. 
  
 (a) If any Change in Law shall: 
  
 (i) impose, modify or deem applicable any reserve, special
deposit or similar requirement against assets of, deposits with or for the account of, or credit extended by, any Lender (except any such reserve requirement reflected in the Adjusted LIBO Rate) or the Issuing Bank; or 
  
 (ii) impose on any Lender or the Issuing Bank or the London
interbank market any other condition affecting this Agreement or Eurodollar Loans made by such Lender or any Letter of Credit or participation therein; 
  
 and the result of any of the foregoing shall be to increase the cost to such Lender of making or maintaining any Eurodollar Loan (or of maintaining its obligation to make
any such Loan) or to increase the cost to such Lender or the Issuing Bank of participating in, issuing or maintaining any Letter of Credit or to reduce the amount of any sum received or receivable by such Lender or the Issuing Bank hereunder
(whether of principal, interest or otherwise), then the Borrower will pay to such Lender or the Issuing Bank, as applicable, such additional amount or amounts as will compensate such Lender or the Issuing Bank, as applicable, for such additional
costs incurred or reduction suffered. 
  
 (b) If any Lender or the
Issuing Bank determines that any Change in Law regarding capital requirements has or would have the effect of reducing the rate of return on such Lender’s or the Issuing Bank’s capital or on the capital of such Lender’s or the Issuing
Bank’s holding company, if any, as a consequence of this Agreement or the Loans made by, or participations in Letters of Credit held by, such Lender, or the Letters of Credit issued by the Issuing Bank, to a level below that which such Lender

  

 -42- 

 or the Issuing Bank or such Lender’s or the Issuing Bank’s holding company could have achieved but for such
Change in Law (taking into consideration such Lender’s or the Issuing Bank’s policies and the policies of such Lender’s or the Issuing Bank’s holding company with respect to capital adequacy), then from time to time the Borrower
will pay to such Lender or the Issuing Bank, as applicable, such additional amount or amounts as will compensate such Lender or the Issuing Bank or such Lender’s or the Issuing Bank’s holding company for any such reduction suffered.

  
 (c) A certificate of a Lender or the Issuing Bank setting
forth the amount or amounts necessary to compensate such Lender or the Issuing Bank or its holding company, as applicable, as specified in paragraph (a) or (b) of this Section 2.15 shall be delivered to the Borrower and shall be
conclusive absent manifest error. The Borrower shall pay such Lender or the Issuing Bank, as applicable, the amount shown as due on any such certificate within 10 days after receipt thereof. 
  
 (d) Failure or delay on the part of any Lender or the Issuing Bank to demand
compensation pursuant to this Section 2.15 shall not constitute a waiver of such Lender’s or the Issuing Bank’s right to demand such compensation, provided that the Borrower shall not be required to compensate a Lender or the
Issuing Bank pursuant to this Section 2.15 for any increased costs or reductions incurred more than 270 days prior to the date that such Lender or the Issuing Bank, as applicable, notifies the Borrower of the Change in Law giving rise to such
increased costs or reductions and of such Lender’s or the Issuing Bank’s intention to claim compensation therefor, provided, further, that, if the Change in Law giving rise to such increased costs or reductions is
retroactive, then the 270-day period referred to above shall be extended to include the period of retroactive effect thereof. 
  
 SECTION 2.16. Break Funding Payments. In the event of (a) the payment of any principal of any Eurodollar Loan other than on the last day of an
Interest Period applicable thereto (including as a result of an Event of Default), (b) the conversion of any Eurodollar Loan other than on the last day of the Interest Period applicable thereto, (c) the failure to borrow, convert, continue
or prepay any Revolving Loan or Tranche B Term Loan on the date specified in any notice delivered pursuant hereto (regardless of whether such notice may be revoked under Section 2.11(f) and is revoked in accordance therewith), or (d) the
assignment of any Eurodollar Loan other than on the last day of the Interest Period applicable thereto as a result of a request by the Borrower pursuant to Section 2.19, then, in any such event, the Borrower shall compensate each Lender for the
loss, cost and expense attributable to such event. In the case of a Eurodollar Loan, such loss, cost or expense to any Lender shall be deemed to include an amount determined by such Lender to be the excess, if any, of (i) the amount of interest
that would have accrued on the principal amount of such Loan had such event not occurred, at the Adjusted LIBO Rate that would have been applicable to such Loan, for the period from the date of such event to the last day of the then current Interest
Period therefor (or, in the case of a failure to borrow, convert or continue, for the period that would have been the Interest Period for such Loan), over (ii) the amount of interest that would accrue on such principal amount for such period at
the interest rate that such Lender would bid were it to bid, at the commencement of such period, for dollar deposits of a comparable amount and period from other banks in the eurodollar market. A certificate of any Lender setting forth any amount or
amounts that such Lender is entitled to receive pursuant to this Section 2.16 shall be delivered to the Borrower and shall be conclusive absent manifest error. The Borrower shall pay such Lender the amount shown as due on any such certificate
within 10 days after receipt thereof. Notwithstanding the foregoing, no additional amounts shall be due and payable pursuant to this Section 2.16 to the extent that on the relevant due date the Borrower deposits in a Prepayment Account an
amount equal to any payment of Eurodollar Loans otherwise required to be made on a date that is not the last day of the applicable Interest Period; provided that on the last day of the applicable Interest Period, the Administrative Agent
shall be authorized, without any further action by or notice to or from the Borrower or any other Loan Party, to apply such amount to the prepayment of such Eurodollar Loans. For purposes of this Agreement, 
  

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 the term “Prepayment Account” shall mean a non-interest bearing account established by the Borrower with the
Administrative Agent and over which the Administrative Agent shall have exclusive dominion and control, including the right of withdrawal for application in accordance with this Section 2.16. 
  
 SECTION 2.17. Taxes. 
  
 (a) Any and all payments by or on account of any obligation of the Borrower
hereunder or under any other Loan Document shall be made free and clear of and without deduction for any Indemnified Taxes or Other Taxes, provided that if the Borrower shall be required to deduct any Indemnified Taxes or Other Taxes from
such payments, then (i) the sum payable shall be increased as necessary so that after making all required deductions (including deductions applicable to additional sums payable under this Section 2.17) the Administrative Agent, Lender or
Issuing Bank (as applicable) receives an amount equal to the sum it would have received had no such deductions been made, (ii) the Borrower shall make such deductions and (iii) the Borrower shall pay the full amount deducted to the
relevant Governmental Authority in accordance with applicable law. 
  
 (b) In addition, the Borrower shall pay any Other Taxes to the relevant Governmental Authority in accordance with applicable law. 
  
 (c) The Borrower shall indemnify the Administrative Agent, each Lender and the Issuing Bank, within 30 days after written demand therefor, for the full
amount of any Indemnified Taxes or Other Taxes paid by the Administrative Agent, such Lender or the Issuing Bank, as applicable, on or with respect to any payment by or on account of any obligation of the Borrower hereunder or under any other Loan
Document (including Indemnified Taxes or Other Taxes imposed or asserted on or attributable to amounts payable under this Section 2.17) and any penalties, interest and reasonable expenses arising therefrom or with respect thereto, whether or
not such Indemnified Taxes or Other Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority. A certificate as to the amount of such payment or liability delivered to the Borrower by a Lender or the Issuing Bank, or
by the Administrative Agent on its own behalf or on behalf of a Lender or the Issuing Bank, shall be conclusive absent manifest error. 
  
 (d) As soon as practicable after any payment of Indemnified Taxes or Other Taxes by the Borrower to a Governmental Authority, the Borrower shall deliver
to the Administrative Agent the original or a certified copy of a receipt issued by such Governmental Authority evidencing such payment, if any, a copy of the return reporting such payment or other evidence of such payment reasonably satisfactory to
the Administrative Agent. 
  
 (e) Any Foreign Lender that is
entitled to an exemption from or reduction of withholding tax under the law of the jurisdiction in which the Borrower is located, or any treaty to which such jurisdiction is a party, with respect to payments under this Agreement shall deliver to the
Borrower (with a copy to the Administrative Agent), on or prior to the Effective Date in the case of each Foreign Lender that is a signatory hereto, and on the date of assignment pursuant to which it becomes a Lender in the case of each other Lender
and from time to time thereafter as reasonably requested by either of the Borrower or the Administrative Agent, such properly completed and executed documentation prescribed by applicable law or reasonably requested by the Borrower as will permit
such payments to be made without withholding or at a reduced rate, provided that such Foreign Lender has received written notice from the Borrower advising it of the availability of such exemption or reduction and supplying all applicable
documentation. 
  
 (f) If the Administrative Agent or a Lender
determines, in its sole discretion, that it has received a refund of any Indemnified Taxes or Other Taxes as to which it has been indemnified by the 
  

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 Borrower or with respect to which the Borrower has paid additional amounts pursuant to this Section 2.17, it shall
pay over such refund to the Borrower (but only to the extent of indemnity payments made, or additional amounts paid, by the Borrower under this Section 2.17 with respect to the Indemnified Taxes or Other Taxes giving rise to such refund), net
of all out-of-pocket expenses of the Administrative Agent or such Lender and without interest (other than any interest paid by the relevant Governmental Authority with respect to such refund), provided that the Borrower, upon the request of
the Administrative Agent or such Lender, agrees to repay the amount paid over to the Borrower (plus any penalties, interest or other charges imposed by the relevant Governmental Authority) to the Administrative Agent or such Lender in the
event the Administrative Agent or such Lender is required to repay such refund to such Governmental Authority. This Section 2.17 shall not be construed to require the Administrative Agent or any Lender to make available its tax returns (or any
other information relating to its taxes that it deems confidential) to the Borrower or any other Person. 
  
 SECTION 2.18. Payments Generally; Pro Rata Treatment; Sharing of Setoffs. 
  
 (a) The Borrower shall make each payment required to be made by it hereunder or under any other Loan Document (whether of
principal, interest, fees or reimbursement of LC Disbursements, or of amounts payable under Section 2.15, 2.16 or 2.17, or otherwise) prior to the time expressly required hereunder or under such other Loan Document for such payment (or, if no
such time is expressly required, prior to 3:00 p.m., New York City time), on the date when due, in immediately available funds, without setoff or counterclaim. Any amounts received after such time on any date may, in the discretion of the
Administrative Agent, be deemed to have been received on the next succeeding Business Day for purposes of calculating interest thereon. All such payments shall be made to the Administrative Agent at its offices at 201 South College Street,
Charlotte, North Carolina, except payments to be made directly to the Issuing Bank or Swingline Lender as expressly provided herein and except that payments pursuant to Sections 2.15, 2.16, 2.17 and 9.03 shall be made directly to the Persons
entitled thereto and payments pursuant to other Loan Documents shall be made to the Persons specified therein. The Administrative Agent shall distribute any such payments received by it for the account of any other Person to the appropriate
recipient promptly following receipt thereof. If any payment under any Loan Document shall be due on a day that is not a Business Day, the date for payment shall be extended to the next succeeding Business Day, and, in the case of any payment
accruing interest, interest thereon shall be payable for the period of such extension. All payments under each Loan Document shall be made in dollars. 
  
 (b) If at any time insufficient funds are received by and available to the Administrative Agent to pay fully all amounts of principal, unreimbursed LC
Disbursements, interest and fees then due hereunder, such funds shall be applied (i) first, towards payment of interest and fees then due hereunder, ratably among the parties entitled thereto in accordance with the amounts of interest and fees
then due to such parties, and (ii) second, towards payment of principal and unreimbursed LC Disbursements then due hereunder, ratably among the parties entitled thereto in accordance with the amounts of principal and unreimbursed LC
Disbursements then due to such parties. 
  
 (c) If any Lender
shall, by exercising any right of setoff or counterclaim or otherwise, obtain payment in respect of any principal of or interest on any of its Revolving Loans, Tranche B Term Loans or participations in LC Disbursements or Swingline Loans resulting
in such Lender receiving payment of a greater proportion of the aggregate amount of its Revolving Loans, Tranche B Term Loans and participations in LC Disbursements and Swingline Loans and accrued interest thereon than the proportion received by any
other Lender, then the Lender receiving such greater proportion shall purchase (for cash at face value) participations in the Revolving Loans, Tranche B Term Loans and participations in LC Disbursements and Swingline Loans of other Lenders to the
extent necessary so that the benefit of all such payments shall be shared by the Lenders ratably in accordance with the aggregate amount of 
  

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 principal of and accrued interest on their respective Revolving Loans, Tranche B Term Loans and participations in LC
Disbursements and Swingline Loans, provided that (i) if any such participations are purchased and all or any portion of the payment giving rise thereto is recovered, such participations shall be rescinded and the purchase price restored
to the extent of such recovery, without interest, and (ii) the provisions of this paragraph shall not be construed to apply to any payment made by the Borrower pursuant to and in accordance with the express terms of this Agreement or any
payment obtained by a Lender as consideration for the assignment of or sale of a participation in any of its Loans or participations in LC Disbursements to any assignee or participant, other than to the Borrower or any Subsidiary or Affiliate
thereof (as to which the provisions of this paragraph shall apply). The Borrower consents to the foregoing and agrees, to the extent it may effectively do so under applicable law, that any Lender acquiring a participation pursuant to the foregoing
arrangements may exercise against the Borrower rights of setoff and counterclaim with respect to such participation as fully as if such Lender were a direct creditor of the Borrower in the amount of such participation. 
  
 (d) Unless the Administrative Agent shall have received notice from the
Borrower prior to the date on which any payment is due to the Administrative Agent for the account of the Lenders or the Issuing Bank hereunder that the Borrower will not make such payment, the Administrative Agent may assume that the Borrower has
made such payment on such date in accordance herewith and may, in reliance upon such assumption and in its sole discretion, distribute to the Lenders or the Issuing Bank, as applicable, the amount due. In such event, if the Borrower has not in fact
made such payment, then each of the Lenders or the Issuing Bank, as applicable, severally agrees to repay to the Administrative Agent forthwith on demand the amount so distributed to such Lender or Issuing Bank with interest thereon, for each day
from and including the date such amount is distributed to it to but excluding the date of payment to the Administrative Agent, at the greater of the Federal Funds Effective Rate and a rate determined by the Administrative Agent in accordance with
banking industry rules on interbank compensation. 
  
 (e) If any
Lender shall fail to make any payment required to be made by it pursuant to Section 2.04(c), 2.05(d) or (e), 2.06(a), 2.18(d) or 9.03(c), then the Administrative Agent may, in its discretion (notwithstanding any contrary provision hereof),
apply any amounts thereafter received by the Administrative Agent for the account of such Lender to satisfy such Lender’s obligations under such Sections until all such unsatisfied obligations are fully paid. 
  
 SECTION 2.19. Mitigation Obligations; Replacement of Lenders.

  
 (a) If any Lender requests compensation under
Section 2.15, or if the Borrower is required to pay any additional amount to any Lender or any Governmental Authority for the account of any Lender pursuant to Section 2.17, then such Lender shall use reasonable efforts to designate a
different lending office for funding or booking its Loans hereunder or to assign its rights and obligations hereunder to another of its offices, branches or affiliates, if, in the judgment of such Lender, such designation or assignment
(i) would eliminate or reduce amounts payable pursuant to Section 2.15 or 2.17, as applicable, in the future and (ii) would not subject such Lender to any unreimbursed cost or expense and would not otherwise be disadvantageous to such
Lender. The Borrower hereby agrees to pay all reasonable costs and expenses incurred by any Lender in connection with any such designation or assignment. 
  
 (b) If any Lender requests compensation under Section 2.15, or if the Borrower is required to pay any additional amount to any Lender or any
Governmental Authority for the account of any Lender pursuant to Section 2.17, or if any Lender defaults in its obligation to fund Loans hereunder, then the Borrower may, at its sole expense and effort, upon notice to such Lender and the
Administrative Agent, require such Lender to assign and delegate, without recourse (in accordance with and subject to the restrictions contained in Section 9.04), all its interests, rights and obligations under this Agreement to 
  

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 an assignee that shall assume such obligations (which assignee may be another Lender, if a Lender accepts such
assignment), provided that (i) the Borrower shall have received the prior written consent of the Administrative Agent (and if a Revolving Commitment is being assigned, the Issuing Bank and the Swingline Lender), which consent shall not
unreasonably be withheld, (ii) such Lender shall have received payment of an amount equal to the outstanding principal of its Loans and participations in LC Disbursements and Swingline Loans, accrued interest thereon, accrued fees and all other
amounts payable to it hereunder, from the assignee (to the extent of such outstanding principal and accrued interest and fees) or the Borrower (in the case of all other amounts) and (iii) in the case of any such assignment resulting from a
claim for compensation under Section 2.15 or payments required to be made pursuant to Section 2.17, such assignment will result in a material reduction in such compensation or payments. A Lender shall not be required to make any such
assignment and delegation if, prior thereto, as a result of a waiver by such Lender or otherwise, the circumstances entitling the Borrower to require such assignment and delegation cease to apply. 
  
 SECTION 2.20. Incremental Extensions of Credit. At any time during the
Revolving Availability Period, subject to the terms and conditions set forth herein, the Borrower may at any time and from time to time, by notice to the Administrative Agent (whereupon the Administrative Agent shall promptly deliver a copy to each
of the Lenders), request to add additional term loans or additional revolving commitments (together, the “Incremental Extensions of Credit”) in minimum principal amounts of $5,000,000; provided that such amount may be less
than $5,000,000 if such amount represents all the remaining availability under the aggregate principal amount set forth below; provided, further, that (x) immediately prior to and after giving effect to any Incremental Facility
Amendment (as defined below), no Default has occurred or is continuing or shall result therefrom and (y) the Borrower shall be in compliance on a Pro Forma Basis with the Financial Performance Covenants recomputed as of the last day of the most
recently ended fiscal quarter of the Borrower for which financial statements are available. The Incremental Extensions of Credit: 
  
 (a) shall be in an aggregate principal amount not exceeding $10,000,000 since the Effective Date, 
  
 (b) shall rank pari passu in right of payment
and right of security with the Revolving Loans and Tranche B Term Loans in respect of the Collateral, and 
  
 (c) other than amortization, pricing or maturity date, shall have the same terms as the Tranche B Term Loans or Revolving Commitments, as
applicable, existing immediately prior to the effectiveness of such Incremental Facility Amendment (the “Existing Extensions of Credit”); 
  
 provided that (i) the Incremental Extensions of Credit in the form of term loans shall not have a final maturity date earlier than the Tranche B Maturity
Date, (ii) the Incremental Extensions of Credit in the form of revolving loans shall not have a final maturity date earlier than the Revolving Maturity Date, (iii) the Incremental Extensions of Credit in the form of term loans shall not
have a weighted average life that is shorter than that of the then-remaining weighted average life of the Existing Extensions of Credit that are Tranche B Term Loans (but may have nominal amortization) and (v) the Incremental Extensions of
Credit in the form of revolving loans shall not require any mandatory commitment reductions, mandatory prepayments or scheduled payments other than those applicable to the Revolving Loans and Revolving Commitments. The Borrower shall by written
notice offer each Lender providing Existing Extensions of Credit (an “Existing Lender”) the opportunity for no less than ten (10) Business Days after delivery of the notice to commit to provide its pro rata
portion (based on the amount of its outstanding Tranche B Term Loans or outstanding Revolving Loans and unused Revolving Commitments, as applicable, on the date of such notice) of any requested Incremental Extension of Credit, provided that
no Existing Lender shall be 
  

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 obligated to provide any Incremental Extension of Credit unless it so agrees. Any additional bank, financial institution,
Existing Lender or other Person that elects to extend Incremental Extensions of Credit shall be reasonably satisfactory to the Borrower and the Administrative Agent and, in the case of Incremental Extensions of Credit in the form of revolving loans,
the Issuing Bank (any such bank, financial institution, Existing Lender or other Person being called an “Additional Lender”) and shall become a Lender under this Agreement pursuant to an amendment (an “Incremental Facility
Amendment”) to this Agreement giving effect to the modifications permitted by this Section 2.20 and, as appropriate, the other Loan Documents and executed by the Borrower, each Additional Lender and the Administrative Agent.
Commitments in respect of Incremental Extensions of Credit shall be Commitments under this Agreement. An Incremental Facility Amendment may, without the consent of any other Lenders, effect such amendments to this Agreement and the other Loan
Documents as may be necessary or appropriate, in the opinion of the Administrative Agent, to effect the provisions of this Section 2.20 (including voting provisions applicable to the Additional Lenders comparable to the provisions of clause
(B) of the second proviso of Section 9.02(b)). The effectiveness of any Incremental Facility Amendment shall be subject to the satisfaction on the date thereof (each, an “Incremental Facility Closing Date”) of each of the
conditions set forth in Section 4.02 (it being understood that all references to “the date of such Borrowing” in such Section 4.02 shall be deemed to refer to the Incremental Facility Closing Date). The proceeds of the
Incremental Extensions of Credit shall be used for working capital and general corporate purposes (including Permitted Acquisitions). 
  
 ARTICLE III 
  
 Representations and Warranties 
  
 The Borrower represents and warrants to the Lenders that: 
  
 SECTION 3.01. Organization; Power. Each of Holdings, the Borrower and the Subsidiaries (a) is duly organized, validly existing and in good standing under the laws of the jurisdiction of its organization,
(b) has the power and authority and all governmental rights, qualifications, approvals, authorizations, permits, accreditations, Reimbursement Approvals, licenses and franchises material to the business of the Borrower and the Subsidiaries
taken as a whole that are necessary to own its assets, to carry on its business as now conducted and as proposed to be conducted and to execute, deliver and perform its obligations under each Loan Document to which it is a party and (c) except
where the failure to do so, individually or in the aggregate, is not reasonably likely to result in a Material Adverse Effect, is qualified to do business in, and is in good standing in, every jurisdiction where such qualification is required.

  
 SECTION 3.02. Authorization; Enforceability. The
Transactions to be entered into by each Loan Party have been duly authorized by all necessary corporate or other action and, if required, stockholder action. This Agreement has been duly executed and delivered by each of Holdings and the Borrower
and constitutes, and each other Loan Document to which any Loan Party is to be a party, when executed and delivered by such Loan Party, will constitute, a legal, valid and binding obligation of Holdings, the Borrower or such Loan Party, as
applicable, enforceable in accordance with its terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium or other laws affecting creditors’ rights generally and subject to general principles of equity, regardless of
whether considered in a proceeding in equity or at law. 
  
 SECTION 3.03. Governmental Approvals; No Conflicts. The Transactions (a) do not require any consent or approval of, registration or filing with, or any other action by, any Governmental Authority, except such as have been
obtained or made and are in full force and effect and except those 
  

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 that are required or permitted to be obtained following consummation of the Transactions, the absence of which
individually or in the aggregate are not reasonably likely to result in a Material Adverse Effect and filings necessary to perfect Liens created under the Loan Documents, (b) will not violate any Requirement of Law applicable to Holdings, the
Borrower or any of the Subsidiaries, as applicable, (c) will not violate or result in a default under any indenture or other material agreement or instrument binding upon Holdings, the Borrower or any of the Subsidiaries or its assets, or give
rise to a right thereunder to require any payment to be made by Holdings, the Borrower or any of the Subsidiaries or give rise to a right of, or result in, termination, cancellation or acceleration of any material obligation thereunder,
(d) will not result in a Limitation on any right, qualification, approval, permit, accreditation, authorization, Reimbursement Approval, license or franchise or authorization granted by any Governmental Authority, Third Party Payor or other
Person applicable to the business, operations or assets of the Borrower or any of the Subsidiaries or adversely affect the ability of the Borrower or any of the Subsidiaries to participate in any Third Party Payor Arrangement except for Limitations,
individually or in the aggregate, that are not material to the business of the Borrower and the Subsidiaries, taken as a whole, and (e) will not result in the creation or imposition of any Lien on any asset of Holdings, the Borrower or any of
the Subsidiaries, except Liens created under the Loan Documents. There is no pending or, to the knowledge of the Borrower, threatened Limitation by any Governmental Authority, Third Party Payor or any other Person of any right, qualification,
approval, permit, authorization, accreditation, Reimbursement Approval, license or franchise of the Borrower, or any Subsidiary, except for such Limitations, individually or in the aggregate, as are not reasonably likely to result in a Material
Adverse Effect. No certifications by any Governmental Authority or any Third Party Payor are required for operation of the business of the Borrower and the Subsidiaries that are not in place, except for such certifications or agreements, the absence
of which do not materially and adversely affect the operation of the business. 
  
 SECTION 3.04. Financial Condition; No Material Adverse Change. 
  
 (a) The Borrower has heretofore furnished to the Lenders its consolidated balance sheet and consolidated statements of operations and comprehensive
income, stockholders’ equity and cash flows (i) as of and for the fiscal years ended December 31, 2002, December 31, 2003, and December 31, 2004, reported on by Ernst & Young LLP, independent public
accountants, and (ii) as of and for the fiscal year ended December 31, 2004 certified by its chief financial officer. Such financial statements present fairly, in all material respects, the financial position and results of operations and
cash flows of the Borrower and the subsidiaries as of such dates and for such periods in accordance with GAAP consistently applied, subject to year-end audit adjustments and the absence of footnotes in the case of the statements referred to in
clause (ii) above. 
  
 (b) The Borrower has heretofore
furnished to the Lenders the consolidated balance sheet and consolidated statements of operations and comprehensive income, stockholders’ equity and cash flows of Specialty as of and for the fiscal years ended December 31,
2002, December 31, 2003, and December 31, 2004, reported on by Ernst & Young LLP, independent public accountants. Such financial statements present fairly, in all material respects, the financial position and results of
operations and cash flows of Specialty and its subsidiaries as of such dates and for such periods in accordance with GAAP consistently applied, subject to year-end audit adjustments and the absence of footnotes. 
  
 (c) The Borrower has heretofore furnished to the Lenders its pro forma
consolidated balance sheet as of a date no more than 75 days prior to the Effective Date prepared giving effect to the Transactions as if the Transactions had occurred on such date. Such pro forma consolidated balance sheet (i) has been
prepared in good faith based on assumptions (which are believed by the Borrower to be reasonable), (ii) accurately reflects all adjustments necessary to give effect to the Transactions and (iii) presents fairly, in all material respects,
the pro forma financial position of the Borrower and the Subsidiaries as of September 30, 2005 as if the Transactions had occurred on such date. 
  

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 (d) Except as set forth on Schedule 3.04 or as disclosed in the financial statements referred to
above or the notes thereto or in the Information Memorandum and except for liabilities incurred in the ordinary course of business, after giving effect to the Transactions, none of Holdings, the Borrower or its Subsidiaries has, as of the Effective
Date, any material liabilities that would be required to be reflected or disclosed in financial statements prepared in accordance with GAAP. 
  
 (e) No event, change, condition or state of facts has occurred that has had, or is reasonably likely to have, a material adverse effect on the business,
operations, assets, liabilities, financial condition or results of operations of Holdings, the Borrower and the Subsidiaries, taken as a whole, since December 31, 2004. 
  
 SECTION 3.05. Properties. 
  

(a) Each of Holdings, the Borrower and the Subsidiaries has good title to, or valid leasehold interests in, all its real and personal property material
to its business (including its Mortgaged Properties), free and clear of all Liens, except for Liens expressly permitted pursuant to Section 6.02 and minor defects in title that do not interfere in any material respect with its ability to
conduct its business or to utilize such properties for their intended purposes. 
  
 (b) Each of Holdings, the Borrower and the Subsidiaries owns, licenses or possesses the right to use all trademarks, trade names, copyrights, patents and other intellectual property material to its business, and the
use thereof by Holdings, the Borrower and the Subsidiaries does not, to the knowledge of the Borrower, infringe upon the rights of any other Person, except for any such infringements that, individually or in the aggregate, are not reasonably likely
to result in a Material Adverse Effect. 
  
 (c) Schedule
3.05 sets forth the address of each real property leased by Holdings, the Borrower or any of the Subsidiaries as of the Effective Date after giving effect to the Transactions. 
  
 (d) No Mortgage encumbers improved real property that is located in an area that has been identified by the Secretary of
Housing and Urban Development as an area having special flood hazards within the meaning of the National Flood Insurance Act of 1968 unless flood insurance available under such Act has been obtained in accordance with Section 5.07 unless waived
by the Administrative Agent in its sole discretion. 
  
 SECTION
3.06. Litigation and Environmental Matters. 
  
 (a) There
are no actions, suits or proceedings by or before any arbitrator or Governmental Authority pending against or, to the knowledge of Holdings, the Borrower or any Subsidiary, threatened against or affecting Holdings, the Borrower or any Subsidiary
that would reasonably be likely to (i) have a Material Adverse Effect or (ii) adversely affect in any material respect the ability of the Loan Parties to consummate the Transactions or the other transactions contemplated hereby.

  
 (b) Except with respect to any other matters that,
individually or in the aggregate, are not reasonably likely to result in a Material Adverse Effect, neither Holdings, the Borrower nor any Subsidiary (i) has failed to comply with any Environmental Law or to obtain, maintain or comply with any
permit, license or other approval or to provide any notification required under any Environmental Law or has become subject to any Environmental Liability or is conducting or financing any investigation, response or corrective action pursuant to any
Environmental Law at any location; or (ii) knows of any basis for Environmental Liability. 
  

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 SECTION 3.07. Compliance with Laws and Agreements. Except with respect to any matters that,
individually or in the aggregate, are not material to the business of the Borrower and the Subsidiaries, taken as a whole, each of Holdings, the Borrower and the Subsidiaries is in compliance with all material Requirements of Law applicable to it or
its property and all material indentures, agreements and other instruments binding upon it or its property. 
  
 SECTION 3.08. Investment and Holding Company Status. Neither Holdings, the Borrower nor any Subsidiary is (a) an “investment
company” as defined in, or subject to regulation under, the Investment Company Act of 1940, as amended or (b) a “holding company” as defined in, or subject to regulation under, the Public Utility Holding Company Act of 1935, as
amended. 
  
 SECTION 3.09. Taxes. Each of Holdings, the
Borrower and the Subsidiaries has timely filed or caused to be filed all Federal and other material Tax returns and reports required to have been filed and has paid or caused to be paid all Taxes required to have been paid by it, except (a) any
Taxes that are being contested in good faith by appropriate proceedings and for which Holdings, the Borrower or such Subsidiary, as applicable, has set aside on its books adequate reserves in accordance with GAAP or (b) to the extent that the
failure to do so is not reasonably likely to result in a Material Adverse Effect. 
  
 SECTION 3.10. ERISA. No ERISA Event has occurred or is reasonably likely to occur that, when taken together with all other such ERISA Events for which liability is reasonably likely to occur, is reasonably
likely to result in a Material Adverse Effect. The present value of all accumulated benefit obligations under each Plan (based on the assumptions used for purposes of Statement of Financial Accounting Standards No. 87) did not, as of the date
of the most recent financial statements reflecting such amounts, exceed the fair value of the assets of such Plan. Each ERISA Affiliate is in compliance in all material respects with the presently applicable provisions of ERISA and the Code with
respect to each employee benefit plan maintained or contributed to by the Borrower or any Subsidiary. Using actuarial assumptions and computation methods consistent with subpart 1 of subtitle E of Title IV of ERISA, the aggregate liabilities of each
ERISA Affiliate to all Multiemployer Plans in the event of a complete withdrawal therefrom, as of the close of the most recent fiscal year of each such Multiemployer Plan, would not reasonably be expected to result in a Material Adverse Effect.

  
 SECTION 3.11. Disclosure. Neither the Information
Memorandum nor any of the other reports, financial statements, certificates or other information furnished by or on behalf of any Loan Party to the Administrative Agent or any Lender in connection with the negotiation of this Agreement or any other
Loan Document or delivered hereunder or thereunder (as modified or supplemented by other information so furnished and taken as a whole) contains any material misstatement of fact or omits to state any material fact necessary to make the statements
therein, in the light of the circumstances under which they were made, not misleading, provided that the foregoing shall not apply to any projected financial information other than the projected financial information included in the
Information Memorandum, and with respect to such projected financial information, Holdings and the Borrower represent only that such information was prepared in good faith based upon assumptions believed by them to be reasonable at the time
delivered and as of the Effective Date. 
  
 SECTION 3.12.
Subsidiaries. After giving effect to the Merger, as of the Effective Date, Holdings does not have any subsidiaries other than the Borrower and the Subsidiaries, Permitted Joint Ventures and Inactive Subsidiaries listed on Schedule
3.12. Schedule 3.12 sets forth the name of, and the ownership or beneficial interest of Holdings in, each subsidiary, including the Borrower, and identifies each Subsidiary that is a Subsidiary Loan Party or a Consolidated Practice, in
each case as of the Effective Date. 
  

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 SECTION 3.13. Insurance. Schedule 3.13 sets forth a description of all insurance maintained
by or on behalf of Holdings, the Borrower and the Subsidiaries as of the Effective Date. As of the Effective Date, all premiums in respect of such insurance have been paid. Holdings and the Borrower believe that the insurance maintained by or on
behalf of the Borrower and the Subsidiaries is adequate. 
  
 SECTION 3.14. Labor Matters. As of the Effective Date, there are no strikes, lockouts or slowdowns against Holdings, the Borrower or any Subsidiary pending or, to the knowledge of Holdings or the Borrower, threatened. The hours
worked by and payments made to employees of the Borrower and the Subsidiaries have not been in violation of the Fair Labor Standards Act or any other applicable Federal, state, local or foreign law dealing with such matters. All payments due from
Holdings, the Borrower or any Subsidiary, or for which any claim may be made against Holdings, the Borrower or any Subsidiary, on account of wages and employee health and welfare insurance and other benefits, have been paid or accrued as a liability
on the books of Holdings, the Borrower or such Subsidiary. The consummation of the Transactions will not give rise to any right of termination or right of renegotiation on the part of any union under any collective bargaining agreement to which
Holdings, the Borrower or any Subsidiary is bound. 
  
 SECTION
3.15. Solvency. Immediately after the consummation of the Transactions to occur on the Effective Date, (a) the fair value of the assets of each Loan Party, at a fair valuation, will exceed its debts and liabilities, subordinated,
contingent or otherwise, (b) the present fair saleable value of the property of each Loan Party will be greater than the amount that will be required to pay the probable liability of its debts and other liabilities, subordinated, contingent or
otherwise, as such debts and other liabilities become absolute and matured, (c) each Loan Party will be able to pay its debts and liabilities, subordinated, contingent or otherwise, as such debts and liabilities become absolute and matured, and
(d) no Loan Party will have unreasonably small capital with which to conduct the business in which it is engaged as such business is now conducted and is proposed to be conducted following the Effective Date, in each case after giving effect to
any rights of indemnification, contribution or subrogation arising among the Subsidiary Loan Parties pursuant to the Collateral Agreement or by law. 
  
 SECTION 3.16. Senior Indebtedness. The Obligations constitute (a) ”Bank Indebtedness” under and as defined in the Senior
Subordinated Notes Documents and (b) ”Senior Indebtedness” or a comparable term under and as defined in the documentation governing any Additional Subordinated Debt. 
  
 SECTION 3.17. Reimbursement from Third Party Payors. The accounts receivable of Holdings, the Borrower and the
Subsidiaries have been and will continue to be adjusted to reflect the reimbursement policies required by all applicable Requirements of Law and other Third Party Payor Arrangements to which Holdings, the Borrower or such Subsidiary is subject, and
do not exceed in any material respect amounts the Borrower or such Subsidiary is entitled to receive under any capitation arrangement, fee schedule, discount formula, cost-based reimbursement or other adjustment or limitation to usual charges. To
the knowledge of the Borrower, all billings by Holdings, the Borrower and each Subsidiary pursuant to any Third Party Payor Arrangements have been made in compliance with all applicable Requirements of Law, except where failure to comply would not,
individually or in the aggregate, be reasonably likely to have a Material Adverse Effect. To the knowledge of the Borrower, there has been no intentional or material over-billing or over-collection by the Borrower or any Subsidiary pursuant to any
Third Party Payor Arrangements, other than as created by routine adjustments and disallowances made in the ordinary course of business by the Third Party Payors with respect to such billings. 
  

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 SECTION 3.18. Fraud and Abuse. To the knowledge of the Borrower, none of Holdings, the Borrower or
any Subsidiary, nor any of their respective partners, members, stockholders, officers or directors, acting on behalf of Holdings, the Borrower or any Subsidiary, have engaged on behalf of Holdings, the Borrower or any Subsidiary in any activities
that are prohibited under 42 U.S.C. § 1320a-7, 42 U.S.C. § 1320a-7a, 42 U.S.C. § 1320a-7b, 42 U.S.C. § 1395nn, 31 U.S.C. § 3729 et seq., or the regulations promulgated thereunder, or
related Requirements of Law, or under any similar state law or regulation, or that are prohibited by binding rules of professional conduct, including (a) knowingly and willfully making or causing to be made a false statement or
misrepresentation of a material fact in any application for any benefit or payment, (b) knowingly and willfully making or causing to be made any false statement or misrepresentation of a material fact for use in determining rights to any
benefit or payment, (c) failing to disclose knowledge by a claimant of the occurrence of any event affecting the initial or continued right to any benefit or payment on its own behalf or on behalf of another, with intent to secure such benefit
or payment fraudulently, (d) knowingly and willfully soliciting or receiving any remuneration (including any kickback, bribe or rebate), directly or indirectly, overtly or covertly, in cash or in kind, or offering to pay or receive such
remuneration (i) in return for referring an individual to a Person for the furnishing or arranging for the furnishing of any item or service for which payment may be made, in whole or in part, pursuant to any Third Party Payor Arrangement to
which the foregoing rules and regulations apply or (ii) in return for purchasing, leasing or ordering or arranging for or recommending purchasing, leasing or ordering any good, facility, service or item for which payment may be made, in whole
or in part, pursuant to any Third Party Payor Arrangement to which the foregoing rules and regulations apply and (e) making any prohibited referral for designated health services, or presenting or causing to be presented a claim or bill to any
individual, Third Party Payor or other entity for designated health services furnished pursuant to a prohibited referral. Neither Holdings, the Borrower nor any Subsidiary shall be considered to be in breach of this Section 3.18 so long as
(a) it shall have taken such actions (including implementation of appropriate internal controls) as may be reasonably necessary to prevent such prohibited actions and (b) such prohibited actions as have occurred, individually or in the
aggregate, are not reasonably likely to have a Material Adverse Effect. 
  
 ARTICLE IV 
  
 Conditions 
  
 SECTION 4.01. Effective Date. The obligations of the Lenders to make
Loans and of the Issuing Bank to issue Letters of Credit hereunder shall not become effective until the date on which each of the following conditions is satisfied (or waived): 
  
 (a) The Administrative Agent shall have received from each party hereto either (i) a counterpart of
this Agreement signed on behalf of such party or (ii) written evidence satisfactory to the Administrative Agent (which may include telecopy transmission of a signed signature page of this Agreement) that such party has signed a counterpart of
this Agreement. 
  
 (b) The Administrative Agent
shall have received a written opinion (addressed to the Administrative Agent and the Lenders and dated the Effective Date) of each of (i) Ropes & Gray LLP, counsel for Holdings and the Borrower, substantially in the form of
Exhibit B-1, and (ii) local counsel in each jurisdiction specified on Schedule 4.01, substantially in the form of Exhibit B-2, and, in the case of each such opinion required by this paragraph, covering such other
matters relating to the Loan Parties, the Loan Documents or the Transactions as the Administrative Agent shall reasonably request. 
  

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 (c) The Administrative Agent shall have received such documents and certificates as the
Administrative Agent or its counsel may reasonably request relating to the organization, existence and good standing of each Loan Party, the authorization of the Transactions and any other legal matters relating to the Loan Parties, the Loan
Documents or the Transactions, all in form and substance reasonably satisfactory to the Administrative Agent. 
  
 (d) The Administrative Agent shall have received a certificate, dated the Effective Date and signed by a Financial Officer, confirming
compliance with the conditions set forth in paragraphs (a) and (b) of Section 4.02 (other than, with respect to paragraph (a) of Section 4.02, the representation and warranty set forth in paragraph (e) of
Section 3.04, which representation and warranty need not be made on the Effective Date). 
  
 (e) The Administrative Agent shall have received all fees and other amounts due and payable on or prior to the Effective Date, including,
to the extent invoiced, reimbursement or payment of all out-of-pocket expenses (including fees, charges and disbursements of counsel) required to be reimbursed or paid by any Loan Party hereunder or under any other Loan Document. 
  
 (f) The Collateral and Guarantee Requirement shall have been
satisfied and the Administrative Agent shall have received (i) a completed Perfection Certificate dated the Effective Date and signed by a Financial Officer and a legal officer of the Borrower, together with all attachments contemplated
thereby, including the results of a search of the Uniform Commercial Code (or equivalent) filings made with respect to the Loan Parties in the jurisdictions contemplated by the Perfection Certificate and copies of the financing statements (or
similar documents) disclosed by such search and evidence reasonably satisfactory to the Administrative Agent that the Liens indicated by such financing statements (or similar documents) are permitted by Section 6.02 or have been released and
(ii) control agreements for each deposit and securities account as contemplated by the Collateral Agreement, provided that the Collateral Agent may, in its reasonable judgment, grant extensions of time for compliance with the Collateral
and Guarantee Requirement by any Loan Party. 
  
 (g) The Administrative Agent shall have received evidence that the insurance required by Section 5.07 is in effect. 
  
 (h) All requisite material Governmental Authorities and third parties shall have approved or consented to the Transactions, all applicable
waiting or appeal periods (including any extensions thereof) shall have expired and there shall be no governmental or judicial action, actual or threatened, that could reasonably be expected to restrain, prevent or impose materially burdensome
conditions on the Transactions. 
  
 (i) The
Lenders shall have received a pro forma consolidated balance sheet of Holdings as of a date no more than 75 days prior to the Effective Date, reflecting all pro forma adjustments as if the Transactions had been consummated on such date, and such pro
forma consolidated balance sheet shall be consistent in all material respects with the forecasts and other information previously provided to the Lenders. After giving effect to the Transactions, none of Holdings, the Borrower or any Subsidiary
shall have outstanding any preferred stock or any Indebtedness, other than (i) Indebtedness incurred under the Loan Documents, (ii) the Senior Subordinated Notes, (iii) Holdings Senior Subordinated Notes and (iv) Indebtedness set
forth on Schedule 6.01. The terms and conditions of all Indebtedness to remain outstanding after the Effective Date (including terms and conditions relating to interest rates, fees, amortization, maturity, redemption, subordination,
covenants, events of default and remedies) shall be in compliance with this Agreement or otherwise reasonably satisfactory in all material respects to the Lenders. 
  

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 (j) All obligations under or relating to the Existing Credit Agreement (other than
customary indemnification obligations) and all liens, guarantees and security interests granted in respect thereof (including all adequate protection obligations related thereto) shall have been discharged, and the terms and conditions of such
discharge shall be satisfactory to the Administrative Agent. The Administrative Agent shall have received payoff and release letters with respect to the Existing Credit Agreement in form and substance reasonably satisfactory to the Administrative
Agent. 
  
 (k) The Administrative Agent shall
have received a certificate, dated the Effective Date and signed by a Financial Officer, confirming that since December 31, 2004, there has not been (i) any material adverse change or any event or condition or state of facts that could
reasonably be expected to (a) have a material adverse change in the business, operations, condition (financial or otherwise), assets, liabilities (whether actual or contingent) or prospects of Holdings and its subsidiaries (excluding Specialty)
or (b) adversely affect the ability of the Borrower or the Guarantors to perform their respective obligations under or in connection with the Loan Documents or (ii) any change, effect, event, occurrence or circumstance that has a material
adverse effect on (x) the business, financial condition or results of operations of Specialty and the subsidiaries of Specialty, taken as a whole, or (y) the ability of Specialty to perform its obligations under the Merger Agreement or to
consummate the Merger set forth in the Merger Agreement and the other transactions contemplated by the Merger Agreement, in the case of each of (x) and (y) other than effects relating to (A) changes, effects, events, occurrences or
circumstances that generally affect the United States economy or the industries in which Specialty operates (other than changes in Law (as defined in the Merger Agreement) that do not exist and have not been proposed prior to the date of the Merger
Agreement) and, in each case, that do not have a materially disproportionate impact on Specialty and the subsidiaries of Specialty, taken as a whole, (B) changes in Law (but only to the extent such changes exist or have been proposed prior to
the date of this Agreement) or reimbursement policies or practices of customers, (C) the announcement of the Merger Agreement or the Transactions, or (D) those matters described in Section 9.03 of the Company Disclosure Letter to the
Merger Agreement. 
  
 (l) The Lenders shall have
received (i) audited consolidated balance sheets and consolidated statements of operations and comprehensive income, stockholders’ equity and cash flows of the Borrower as of and for the fiscal year ended December 31, 2005, if
available and related notes thereto, accompanied by a true and correct copy of the reports thereon by Ernst & Young LLP, independent public accountants, and (ii) unaudited consolidated balance sheets and consolidated statements of
operations and comprehensive income, stockholders’ equity and cash flows of the Borrower for each fiscal quarter subsequent to June 30, 2005 and ending at least 45 days before the Effective Date (and comparable periods for the prior fiscal
year). 
  
 (m) The Lenders shall have received
(i) audited consolidated balance sheets and consolidated statements of operations and comprehensive income, stockholders’ equity and cash flows of the Specialty, if available, and related notes thereto, accompanied by a true and correct
copy of the reports thereon by Ernst & Young LLP, independent public accountants, and (ii) unaudited consolidated balance sheets and consolidated statements of operations and comprehensive income, stockholders’ equity and cash
flows of Specialty for each fiscal quarter subsequent to June 30, 2005 and ending at least 45 days before the Effective Date (and comparable periods for the prior fiscal year). 
  
 (n) The Administrative Agent shall have received a certificate, dated the Effective Date and signed by the
president or a vice president of the Borrower or a Financial Officer, in 
  

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 form and substance reasonably satisfactory to the Administrative Agent, together with such other evidence
reasonably requested by the Lenders, confirming the solvency of the Borrower and the Subsidiaries on a consolidated basis after giving effect to the Transactions. 
  
 (o) The Transactions shall have been consummated or shall be consummated simultaneously with the Effective
Date in accordance with applicable law, the Merger Agreement and all other related documentation (in each case without giving effect to any amendments or waivers to or of such documents that are adverse in any material respect to the Lenders not
approved by the Arrangers). No more than 10% of the outstanding common stock of Specialty at the time the Merger is consummated shall constitute shares held by holders who properly exercise appraisal rights. 
  
 (p) The Equity Contributions shall have been made.

  
 (q) There shall be no litigation,
arbitration, administrative proceeding or consent decree that could reasonably be expected to have a material adverse effect on (i) the business, operations, performance, properties, condition (financial or otherwise), prospects or material
agreements of or applicable to Holdings, the Borrower or the Subsidiaries, taken as a whole, after giving effect to the Transactions or (ii) the ability of the parties to consummate the Transactions. 
  
 (r) The consummation of the Transactions shall not
(i) violate any applicable law, statute, rule or regulation or (ii) conflict with, or result in a default or event of default under, any material agreement of Holdings, the Borrower or any Subsidiary, after giving effect to the
Transactions, in each case which could reasonably be expected to have (1) a material adverse effect on the business, operations, assets, liabilities, financial condition or results of operations of Holdings, the Borrower and the Subsidiaries,
taken as a whole, or (2) a material adverse effect on the ability of the Borrower to perform its obligations under this Agreement. 
  
 (s) The consummation of the Transactions shall comply in all respects with the terms of the Senior Subordinated Notes. 
  
 The Administrative Agent shall notify the Borrower and the Lenders of the Effective Date, and
such notice shall be conclusive and binding. 
  
 SECTION 4.02.
Each Credit Event. The obligation of each Lender to make any Loan and of the Issuing Bank to issue, amend, renew or extend any Letter of Credit, is subject to receipt of the request therefor in accordance herewith and to the satisfaction of
the following conditions: 
  
 (a) The
representations and warranties of each Loan Party set forth in the Loan Documents shall be true and correct in all material respects (except to the extent any such representation or warranty is qualified by “materially”, “Material
Adverse Effect” or a similar term, in which case such representation and warranty shall be true and correct in all respects) on and as of the date of such Borrowing or the date of issuance, amendment, renewal or extension of such Letter of
Credit, as applicable, except to the extent such representations and warranties expressly relate to an earlier date (in which case such representations and warranties shall be true and correct (or true and correct in all material respects, as the
case may be) as of such earlier date). 
  
 (b) At
the time of and immediately after giving effect to such Borrowing or the issuance, amendment, renewal or extension of such Letter of Credit, as applicable, no Default shall have occurred and be continuing. 
  

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 Each Borrowing (provided that a conversion or continuation of a Borrowing shall not constitute a
“Borrowing” for purposes of this Section 4.02) and each issuance, amendment, renewal or extension of a Letter of Credit shall be deemed to constitute a representation and warranty by Holdings and the Borrower on the date thereof as to
the matters specified in paragraphs (a) and (b) of this Section 4.02. 
  
 ARTICLE V 
  
 Affirmative
Covenants 
  
 Until the Commitments have expired or been
terminated and the principal of and interest on each Loan and all fees, expenses and other amounts payable under any Loan Document shall have been paid in full and all Letters of Credit shall have expired or terminated and all LC Disbursements shall
have been reimbursed, each of Holdings and the Borrower covenants and agrees with the Lenders that: 
  
 SECTION 5.01. Financial Statements and Other Information. The Borrower will furnish to the Administrative Agent (for distribution to each Lender):

  
 (a) within 90 days (or such shorter period as
the SEC shall specify for the filing of annual reports on Form 10-K) after the end of each fiscal year of the Borrower commencing with the fiscal year ended December 31, 2005, (i) its audited consolidated balance sheet and consolidated
statements of operations and comprehensive income, stockholders’ equity and cash flows as of the end of and for such fiscal year, and the related notes thereto, setting forth in each case in comparative form the figures for the previous fiscal
year, all reported on by independent public accountants of recognized national standing (without a “going concern” or like qualification or exception and without any qualification or exception as to the scope of such audit) to the effect
that such consolidated financial statements present fairly in all material respects the financial condition and results of operations of the Borrower and the Subsidiaries on a consolidated basis in accordance with GAAP consistently applied, and
(ii) if at any time the Borrower is not subject to the reporting requirements of Section 13 or 15(d) of the Exchange Act, a “Management’s Discussion and Analysis of Financial Condition and Results of Operations” that
describes the financial condition and results of operations of the Borrower and its consolidated Subsidiaries; 
  
 (b) within 45 days (or such shorter period as the SEC shall specify for the filing of quarterly reports on Form 10-Q) after the end of
each of the first three fiscal quarters of each fiscal year of the Borrower commencing with the fiscal quarter ending March 31, 2006, its consolidated balance sheet and consolidated statements of operations and comprehensive income,
stockholders’ equity and cash flows as of the end of and for such fiscal quarter and the then-elapsed portion of the fiscal year, setting forth in each case in comparative form the figures for the corresponding period or periods of (or, in the
case of the balance sheet, as of the end of) the previous fiscal year, all certified by a Financial Officer as presenting fairly in all material respects the financial condition and results of operations of the Borrower and the Subsidiaries on a
consolidated basis in accordance with GAAP consistently applied, subject to normal year-end audit adjustments and the absence of footnotes; 
  
 (c) concurrently with any delivery of financial statements under paragraph (a) or (b) above, a certificate of a Financial
Officer (i) certifying as to whether a Default has occurred and, if a Default has occurred, specifying the details thereof and any action taken or proposed to be taken with respect thereto, (ii) setting forth (A) reasonably detailed
calculations demonstrating compliance with Sections 6.12, 6.13 and 6.14 (including (x) any prepayment of the Loans as set forth in the definition of “Leverage Ratio” and (y) any exercise of the rights set forth in
Section 7.02) and (B) in the case of financial statements delivered under paragraph (a) above beginning in 
  

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 2007 with respect to fiscal year 2006, reasonably detailed calculations of Excess Cash Flow for the
applicable period, and (iii) certifying as to the calculation of Consolidated EBITDA on a Pro Forma Basis for the four fiscal quarter period ending on the date of such financial statements and accompanied by reasonably detailed supporting
evidence, it being understood that each of the calculations described in this paragraph (c) shall provide a reconciliation to the financial statements delivered under paragraphs (a) and (b) above; 
  
 (d) concurrently with any delivery of financial statements
under paragraph (a) above, a certificate of the accounting firm that reported on such financial statements stating whether they obtained knowledge during the course of their examination of such financial statements of any Default and, if such
knowledge has been obtained, describing such Default (which certificate may be limited to the extent required by accounting rules or guidelines); 
  
 (e) concurrently with the issuance of any Indebtedness permitted by Section 6.01(a)(xi) and (xii), or a Restricted Payment permitted
by Section 6.08(a)(ix), a certificate of a Financial Officer certifying as to (i) the Holdings Leverage Ratio or Leverage Ratio, as the case may be, accompanied by reasonably detailed supporting evidence, (ii) the use of proceeds from
such issuance and (iii) whether a Default has occurred and, if a Default has occurred, specifying the details thereof and any action taken or proposed to be taken with respect thereto, it being understood that each of the calculations described
in this paragraph (e) shall provide a reconciliation to the financial statements delivered under paragraphs (a) and (b) above; 
  
 (f) within 30 days after the commencement of each fiscal year of the Borrower, a detailed consolidated budget for such fiscal year
(including a projected consolidated balance sheet and consolidated statements of projected operations and cash flows as of the end of and for such fiscal year) and, promptly when available, any significant revisions of such budget; 
  
 (g) promptly after the same become publicly available,
copies of all periodic and other reports, proxy statements and other materials filed by the Borrower or any Subsidiary with the SEC or with any national securities exchange, as applicable; and 
  
 (h) promptly following any request therefor, such other
information regarding the operations, business affairs and financial condition of Holdings, the Borrower or any Subsidiary or any Plan, or compliance with the terms of any Loan Document, as the Administrative Agent or any Lender may reasonably
request. 
  
 SECTION 5.02. Notices of Material Events.
Holdings and the Borrower will furnish to the Administrative Agent (for distribution to each Lender), through the Administrative Agent, written notice of the following promptly after obtaining knowledge thereof: 
  
 (a) the occurrence of any Default; 
  
 (b) the filing or commencement of any action, suit or
proceeding by or before any arbitrator or Governmental Authority against or affecting Holdings, the Borrower or any Subsidiary that, if adversely determined, is reasonably likely to result in a Material Adverse Effect; 
  
 (c) the occurrence of any ERISA Event that alone or together
with any other ERISA Events that have occurred, could reasonably be expected to result in liability of the Borrower and the Subsidiaries in an aggregate amount exceeding $3,750,000; 
  

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 (d) the receipt by Holdings, the Borrower or any Subsidiary of (i) any notice of any
loss of any governmental right, qualification, permit, accreditation, approval, authorization, Reimbursement Approval, license or franchise or (ii) any notice, compliance order or adverse report issued by any Governmental Authority or Third
Party Payor that, if not promptly complied with or cured, could result in (A) the suspension or forfeiture of any material governmental right, qualification, permit, accreditation, approval, authorization, Reimbursement Approval, license or
franchise necessary for the Borrower or any Subsidiary to carry on its business as now conducted or as proposed to be conducted or (B) any other material Limitation imposed upon the Borrower or any Subsidiary; 
  
 (e) any Change in Law of the type described in clause
(a) or (b) of such definition relating to any Third Party Payor Arrangement that could reasonably be expected to have a material and adverse effect on the ability of the Borrower or any Subsidiary to carry on its business as now conducted
or as proposed to be conducted; and 
  
 (f) any
other development that results in, or is reasonably likely to result in, a Material Adverse Effect. 
  
 Each notice delivered under this Section 5.02 shall be accompanied by a statement of a Financial Officer or other executive officer of the Borrower setting forth the details of the event or development requiring
such notice and any action taken or proposed to be taken with respect thereto. 
  
 SECTION 5.03. Information Regarding Collateral. 
  
 (a) The Borrower will furnish to the Collateral Agent prompt written notice (but in no event later than 90 days) of any change (i) in any Loan Party’s corporate name, (ii) in the jurisdiction of
incorporation or organization of any Loan Party or (iii) in any Loan Party’s organizational identification number. The Borrower agrees not to effect or permit any change referred to in the preceding sentence unless all filings have been
made under the Uniform Commercial Code or otherwise that are required in order for the Collateral Agent to continue at all times following such change to have a valid, legal and perfected security interest in all the Collateral. The Borrower also
agrees promptly to notify the Collateral Agent if any material portion of the Collateral is damaged or destroyed. 
  
 (b) Each year, at the time of delivery of annual financial statements pursuant to Section 5.01(a), the Borrower shall deliver to the Collateral Agent
a certificate executed by a Financial Officer and the chief legal officer of the Borrower setting forth the information required pursuant to the Perfection Certificate or confirming that there has been no change in such information since the date of
the Perfection Certificate delivered on the Effective Date or the date of the most recent certificate delivered pursuant to this Section. 
  
 SECTION 5.04. Existence; Conduct of Business. Each of Holdings and the Borrower will, and will cause each of the Subsidiaries to, do or cause to be
done all things necessary to preserve, renew and keep in full force and effect its legal existence and the rights, qualifications, permits, approvals, accreditations, authorizations, Reimbursement Approvals, licenses, franchises, patents,
copyrights, trademarks and trade names material to the conduct of its business; provided that the foregoing shall not prohibit any merger, consolidation, liquidation or dissolution permitted under Section 6.03. 
  
 SECTION 5.05. Payment of Obligations. Each of Holdings and the
Borrower will, and will cause each of the Subsidiaries to, pay its Tax liabilities, before the same shall become delinquent or in default, except where (a) the validity or amount thereof is being contested in good faith by appropriate
proceedings, (b) Holdings, the Borrower or such Subsidiary has set aside on its books adequate reserves 
  

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 with respect thereto in accordance with GAAP, (c) such contest effectively suspends the enforcement of any Lien
securing such obligation and (d) the failure to make payment pending such contest is not reasonably likely to result in a Material Adverse Effect. 
  
 SECTION 5.06. Maintenance of Properties. Each of Holdings and the Borrower will, and will cause each of the Subsidiaries to, keep and maintain all
property material to the conduct of its business in good working order and condition, ordinary wear and tear excepted. 
  
 SECTION 5.07. Insurance. Each of Holdings and the Borrower will, and will cause each of the Subsidiaries to, maintain, with financially sound and
reputable insurance companies (which may include self-insurance), (a) insurance in such amounts (with no greater risk retention) and against such risks as are customarily maintained by companies of established repute engaged in the same or
similar businesses operating in the same or similar locations and (b) all insurance required to be maintained pursuant to the Security Documents. The Borrower will furnish to the Lenders, upon request of the Administrative Agent, information in
reasonable detail as to the insurance so maintained. Unless otherwise waived by the Administrative Agent in its sole discretion, with respect to each Mortgaged Property, obtain flood insurance in such total amount as the Administrative Agent or the
Required Lenders may from time to time reasonably require, if at any time the area in which any improvements located on any Mortgaged Property is designated a “flood hazard area” in any Flood Insurance Rate Map published by the Federal
Emergency Management Agency (or any successor agency), and otherwise comply with the National Flood Insurance Program as set forth in the Flood Disaster Protection Act of 1973, as amended from time to time. 
  
 SECTION 5.08. Casualty and Condemnation. The Borrower (a) will
furnish to the Administrative Agent and the Lenders prompt written notice of any casualty or other insured damage to any material portion of the Collateral or the commencement of any action or proceeding for the taking of any material portion of the
Collateral or interest therein under power of eminent domain or by condemnation or similar proceeding and (b) will ensure that the Net Proceeds of any such event (whether in the form of insurance proceeds, condemnation awards or otherwise) are
collected and applied in accordance with the applicable provisions of this Agreement and the Security Documents. 
  
 SECTION 5.09. Books and Records; Inspection and Audit Rights. Each of Holdings and the Borrower will, and will cause each of the Subsidiaries to,
keep proper books of record and account in which full, true and correct entries are made of all dealings and transactions in relation to its business and activities. Each of Holdings and the Borrower will, and will cause each of the Subsidiaries to,
permit any representatives designated by the Administrative Agent or any Lender, upon reasonable prior notice, to visit and inspect its properties during normal business hours, to examine and make extracts from its books and records, including any
information relating to actual or potential compliance with or liability under Environmental Laws, and to discuss its affairs, finances and condition with its officers and independent accountants (provided that the Borrower shall be provided
the opportunity to participate in any such discussions with its independent accountants), all at such reasonable times and as often as reasonably requested. 
  
 SECTION 5.10. Compliance with Laws. Each of Holdings and the Borrower will, and will cause each of the Subsidiaries to comply with all Requirements
of Law, including Environmental Laws, applicable to it, its operations and all property owned, operated and leased by any of them, except where the failure to do so, individually or in the aggregate, is not reasonably likely to result in a Material
Adverse Effect. 
  
 SECTION 5.11. Use of Proceeds and Letters
of Credit. The proceeds of the Tranche B Term Loans and any Revolving Loans borrowed on the Effective Date will be used by the Borrower on 
  

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 the Effective Date solely for (a) first, the payment of the Transaction Costs, (b) second, the
payment of all principal, interest, fees and other amounts outstanding under the Existing Credit Agreement, and (c) third, together with the Equity Contributions and cash on hand of the Borrower, the payment of the Merger Consideration.
The proceeds of the Revolving Loans (except as described above), Swingline Loans and Letters of Credit will be used only for working capital and for other general corporate purposes. No part of the proceeds of any Loan and no Letter of Credit will
be used, whether directly or indirectly, for any purpose that entails a violation of any of the Regulations of the Board, including Regulations T, U and X. 
  
 SECTION 5.12. Additional Subsidiaries. If any additional Subsidiary (other than a Consolidated Practice) is formed or acquired after the Effective
Date (or if (x) any Inactive Subsidiary that is not a Subsidiary Loan Party ceases to qualify as an Inactive Subsidiary or (y) a Permitted Joint Venture that is not otherwise a Permitted Joint Venture Loan Party becomes a wholly owned
Subsidiary of the Borrower) the Borrower will, promptly after such Subsidiary is formed or acquired, notify the Collateral Agent and the Lenders (through the Administrative Agent) thereof and promptly cause the Collateral and Guarantee Requirement
to be satisfied with respect to such Subsidiary (if it is a Subsidiary Loan Party) and with respect to any Equity Interest in or Indebtedness of such Subsidiary owned by or on behalf of any Loan Party. 
  
 SECTION 5.13. Further Assurances. 
  
 (a) Holdings and the Borrower will, and will cause each Subsidiary Loan
Party to, execute any and all further documents, financing statements, agreements and instruments, and take all such further actions (including the filing and recording of financing statements, fixture filings, mortgages, deeds of trust and other
documents), which may be required under any applicable law, or which the Administrative Agent or the Required Lenders may reasonably request, to cause the Collateral and Guarantee Requirement to be and remain satisfied, all at the expense of the
Loan Parties. Each of Holdings and the Borrower also agrees to provide to the Collateral Agent, from time to time upon reasonable request, evidence reasonably satisfactory to the Administrative Agent as to the perfection and priority of the Liens
created or intended to be created by the Security Documents. 
  
 (b) If any material assets (including any real property (other than any leased real property) or improvements thereto or any interest therein, other than any real property with a fair value of less than $2,500,000) are acquired by the
Borrower or any Subsidiary Loan Party after the Effective Date (other than assets constituting Collateral under the Collateral Agreement that become subject to the Lien in favor of the Collateral Agreement upon acquisition thereof), the Borrower
will notify the Administrative Agent and the Lenders thereof and, if requested by the Administrative Agent or the Required Lenders, the Borrower will cause such assets to be subjected to a Lien securing the Obligations and will take, and cause the
Subsidiary Loan Parties to take, such actions as shall be necessary or reasonably requested by the Administrative Agent to grant and perfect such Liens, including actions described in paragraph (a) of this Section 5.13, all at the expense
of the Loan Parties, provided that the Collateral Agent may, in its reasonable judgment, grant extensions of time for compliance or exceptions with the provisions of this paragraph by any Loan Party. 
  
 SECTION 5.14. Post Closing Matters. Execute and deliver the documents
and complete the tasks set forth on Schedule 5.14, in each case within the time limits specified on such schedule. 
  

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 ARTICLE VI 
  
 Negative Covenants 
  
 Until the Commitments have expired or been terminated and the principal of and interest on each Loan and all fees, expenses and other amounts payable
under any Loan Document have been paid in full and all Letters of Credit have expired or terminated and all LC Disbursements shall have been reimbursed, each of Holdings and the Borrower covenants and agrees with the Lenders that: 
  
 SECTION 6.01. Indebtedness; Certain Equity Securities. 
  
 (a) Neither Holdings nor the Borrower will, nor will they permit any
Subsidiary to, create, incur, assume or permit to exist any Indebtedness, except: 
  
 (i) Indebtedness created under the Loan Documents; 
  
 (ii) the Senior Subordinated Notes; 
  
 (iii) Indebtedness existing on the Effective Date and set forth in Schedule 6.01 and extensions,
renewals and replacements of any such Indebtedness, provided that such extending, renewal or replacement Indebtedness (A) shall not be in a principal amount that exceeds the principal amount of the Indebtedness being extended, renewed or
replaced (plus accrued interest and premium thereon), (B) shall not have an earlier maturity date or a decreased weighted average life than the Indebtedness being extended, renewed or replaced, (C) shall be subordinated to the
Obligations on the same terms (or, from a Lender’s perspective, better terms) as the Indebtedness being extended, renewed or replaced and (D) there is no obligor of such Indebtedness that is not either (x) an obligor of such
Indebtedness on the Effective Date or (y) otherwise permitted to incur such Indebtedness by another clause of this Section 6.01; 
  
 (iv) Indebtedness of the Borrower owed to any Subsidiary and of any Subsidiary owed to the Borrower or any other Subsidiary;
provided that Indebtedness of any Loan Party owed to any Subsidiary that is not a Loan Party shall be subordinated to the Obligations on terms reasonably satisfactory to the Administrative Agent; provided further that,
notwithstanding the first proviso above, such Indebtedness shall only be subordinated to the extent permitted by applicable laws or regulations; 
  
 (v) Guarantees by the Borrower of Indebtedness of any Subsidiary and by any Subsidiary of Indebtedness of the Borrower or any other
Subsidiary, provided that (A) the Indebtedness so Guaranteed is permitted by this Section 6.01 and (B) Guarantees permitted under this clause (v) by a Loan Party of Indebtedness of a Subsidiary that is not a Loan Party
shall be subordinated to the Obligations of the Loan Party to the same extent and on the same terms as the Indebtedness so Guaranteed is subordinated to the Obligations; 
  
 (vi) Indebtedness of the Borrower or any Subsidiary incurred to finance the acquisition, construction or
improvement of any fixed or capital assets, including Capital Lease Obligations, and any Indebtedness assumed by the Borrower or any Subsidiary in connection with the acquisition of any such assets or secured by a Lien on any such assets prior to
the acquisition thereof, and extensions, renewals and replacements of any such Indebtedness that do not increase the outstanding principal amount thereof (including the principal and any accrued but unpaid interest or premium in respect thereof),
provided that (A) such Indebtedness is incurred prior to or within 120 days after such acquisition or the completion of such construction or improvement and (B) the aggregate principal amount of Indebtedness permitted by this clause
(vi) shall not exceed at any time outstanding $5,000,000; 
  

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 (vii) (A) Indebtedness of any Person that becomes a Subsidiary after the date hereof,
provided that (1) such Indebtedness exists at the time such Person becomes a Subsidiary and is not created in contemplation of or in connection with such Person becoming a Subsidiary and (2) the aggregate amount of Indebtedness
permitted by this clause (vii) (including subclause (B)) shall not exceed $15,000,000 at any time outstanding, and (B) any refinancings, renewals and replacements of any such Indebtedness pursuant to the preceding clause (A) that do
not increase the outstanding principal amount (plus accrued interest and premium) thereof; 
  
 (viii) Indebtedness owed to any Person (including obligations in respect of letters of credit for the benefit of such Person) providing
workers’ compensation, health, disability or other employee benefits or property, casualty or liability insurance pursuant to reimbursement or indemnification obligations to such Person, in each case incurred in the ordinary course of business;

  
 (ix) Indebtedness of the Borrower or any
Subsidiary in respect of performance bonds, bid bonds, appeal bonds, surety bonds, performance and completion guarantees and similar obligations, in each case provided in the ordinary course of business; 
  
 (x) Indebtedness of any Loan Party pursuant to Swap
Agreements permitted by Section 6.07; 
  
 (xi) with respect to Holdings, Qualified Holdings Debt; provided that other than with respect to any additional principal amounts resulting from the accrual of pay-in-kind interest, (A) such Indebtedness may only be issued or
incurred to the extent that after giving effect to the incurrence of such additional Indebtedness on a Pro Forma Basis, the Holdings Leverage Ratio would be less than 5.50 to 1.00 and (B) no Default has occurred and is continuing or would
result therefrom; 
  
 (xii) Additional
Subordinated Debt, provided that the Net Proceeds of such Additional Subordinated Debt are used, promptly after such Net Proceeds are received, (A) to consummate one or more Permitted Acquisitions so long as after giving effect to the
incurrence of such Additional Subordinated Debt and such Permitted Acquisitions on a Pro Forma Basis, the Leverage Ratio would be less than the Leverage Ratio set forth in Section 6.13 for such date minus 0.25, (B) to refinance or
replace the Senior Subordinated Notes (or Additional Subordinated Debt incurred for that purpose) or (C) to prepay Tranche B Term Loans pursuant to Section 2.11(a); provided further that no Default has occurred and is
continuing or would result therefrom; 
  
 (xiii)
Indebtedness representing deferred compensation to employees of the Borrower and the Subsidiaries incurred in the ordinary course of business; 
  
 (xiv) Indebtedness in respect of promissory notes issued to physicians, consultants, employees or directors or former employees,
consultants or directors in connection with repurchases of Equity Interests permitted by Section 6.08(a)(iii); 
  
 (xv) Indebtedness of any Foreign Subsidiary or any Subsidiary of the Borrower that is not a Loan Party in an amount not to exceed
$2,500,000 at any time outstanding; 
  
 (xvi)
Additional Senior Debt, to the extent the Net Proceeds of such Additional Senior Debt are used, promptly after such Net Proceeds are received by the Borrower, (A) to prepay 
  

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 Tranche B Term Loans pursuant to Section 2.11(a) or (B) to refinance or replace Additional
Senior Debt incurred for that purpose; provided in each case that after giving effect to the incurrence of such Additional Senior Debt on a Pro Forma Basis, no Default has occurred and is continuing or would result therefrom; and 

 
 (xvii) other Indebtedness of the Borrower or any
Subsidiary in an aggregate principal amount not exceeding $17,500,000 at any time outstanding. 
  
 (b) The Borrower will not, and Holdings and the Borrower will not permit any Subsidiary to, issue any preferred Equity Interests. 
  
 (c) Holdings will not issue any preferred Equity Interests other than Qualified Preferred Stock. 
  
 SECTION 6.02. Liens. Neither Holdings nor the Borrower will, nor will
they permit any Subsidiary to, create, incur, assume or permit to exist any Lien on any property or asset now owned or hereafter acquired by it, or assign or sell any income or revenues (including accounts receivable) or rights in respect of any
thereof, except: 
  
 (i) Liens created by the
Loan Documents; 
  
 (ii) Permitted Encumbrances;

  
 (iii) any Lien on any property or asset of
the Borrower or any Subsidiary existing on the Effective Date and set forth in Schedule 6.02; provided that (A) such Lien shall not apply to any other property or asset of the Borrower or any Subsidiary and (B) such Lien
shall secure only those obligations which it secures on the Effective Date and extensions, renewals and replacements thereof that do not increase the outstanding principal amount thereof (plus accrued interest and premium thereon);

  
 (iv) any Lien existing on any property or
asset prior to the acquisition thereof by the Borrower or any Subsidiary or existing on any property or asset of any Person that becomes a Subsidiary after the date hereof prior to the time such Person becomes a Subsidiary; provided that
(A) such Lien is not created in contemplation of or in connection with such acquisition or such Person becoming a Subsidiary, as applicable, (B) such Lien shall not apply to any other property or asset of the Borrower or any Subsidiary and
(C) such Lien shall secure only those obligations that it secures on the date of such acquisition or the date such Person becomes a Subsidiary, as applicable, and extensions, renewals and replacements thereof that do not increase the
outstanding principal amount thereof (plus accrued interest and premium thereon); 
  
 (v) Liens on fixed or capital assets acquired, constructed or improved by the Borrower or any Subsidiary, provided that
(A) such security interests secure Indebtedness permitted by clause (v) of Section 6.01(a), (B) such security interests and the Indebtedness secured thereby are incurred prior to or within 120 days after such acquisition or the
completion of such construction or improvement, (C) the Indebtedness secured thereby does not exceed 100% of the cost of acquiring, constructing or improving such fixed or capital assets and (D) such security interests shall not apply to
any other property or assets of the Borrower or any Subsidiary; 
  
 (vi) Liens of a collecting bank arising in the ordinary course of business under Section 4-208 of the Uniform Commercial Code in effect in the relevant jurisdiction covering only the items being collected upon;

  

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 (vii) Liens arising out of sale and leaseback transactions permitted by
Section 6.06; 
  
 (viii) Liens granted by a
Subsidiary that is not a Loan Party in favor of the Borrower or another Loan Party in respect of Indebtedness owed by such Subsidiary; 
  
 (ix) licenses, sublicenses, leases or subleases granted to others not interfering in any material respect with the business of the
Borrower or any Subsidiary; and 
  
 (x) Liens
encumbering reasonable customary initial deposits and margin deposits and similar Liens attaching to commodity trading accounts or other brokerage accounts incurred in the ordinary course of business and not for speculative purposes; 
  
 (xi) Liens that are contract rights of set-off
(i) relating to the establishment of depositary relations with banks not given in connection with the issuance of Indebtedness, (ii) relating to pooled deposit or sweep accounts of Holdings, the Borrower or any Subsidiary to permit
satisfaction of overdraft or similar obligations incurred in the ordinary course of business of Holdings, the Borrower and the Subsidiaries or (iii) relating to purchase orders and other agreements entered into with customers of Holdings, the
Borrower or any Subsidiary in the ordinary course of business; 
  
 (xii) Liens solely on any cash earned money deposits made by Holdings, the Borrower or any Subsidiary in connection with any letter of intent or purchase agreement permitted hereunder; 
  
 (xiii) Liens in favor of a Loan Party securing Indebtedness
permitted under Sections 6.01(a)(iv) and (v); 
  
 (xiv) Liens securing judgments for the payment of money not constituting an Event of Default under Section 7.01(i); 
  
 (xv) Liens on assets of any Foreign Subsidiary securing Indebtedness (and related obligations) permitted by Section 6.01(a)(xv); and

  
 (xvi) Liens on assets of the Borrower or the
Subsidiaries not otherwise permitted by this Section 6.02, so long as neither (i) the aggregate outstanding principal amount of the obligations secured thereby nor (ii) the aggregate fair value (determined as of the date such Lien is
incurred) of the assets subject thereto exceeds $5,000,000 at any time outstanding, provided that in no event shall Holdings, the Borrower or any Subsidiary create, incur, assume or permit to exist any Lien on any Equity Interests of the
Borrower or any Subsidiary. 
  
 SECTION 6.03. Fundamental
Changes. 
  
 (a) Neither Holdings nor the Borrower will, nor
will they permit any Subsidiary to, merge into or consolidate with any other Person, or permit any other Person to merge into or consolidate with it, or liquidate or dissolve, except that, if at the time thereof and immediately after giving effect
thereto no Default shall have occurred and be continuing, (i) any Person may merge into the Borrower in a transaction in which the surviving entity is a Person organized or existing under the laws of the United States of America, any State
thereof or the District of Columbia and, if such surviving entity is not the Borrower, such Person expressly assumes, in writing, all the obligations the Borrower under the Loan Documents, (ii) any Person may merge into any Subsidiary in a
transaction in which the surviving entity is a Subsidiary and, if any party to such merger is a Subsidiary Loan Party, is or becomes a Subsidiary 
  

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 Loan Party concurrently with such merger, (iii) any Subsidiary (other than a Subsidiary Loan Party) may liquidate or
dissolve if the Borrower determines in good faith that such liquidation or dissolution is in the best interests of the Borrower and is not materially disadvantageous to the Lenders and (iv) any asset sale permitted by Section 6.05(g) may
be effected through the merger of a subsidiary of the Borrower with a third party, provided that any such merger referred to in clauses (i), (ii) or (iv) above involving a Person that is not a wholly owned Subsidiary
immediately prior to such merger shall not be permitted unless also permitted by Section 6.04. 
  
 (b) The Borrower will not, and Holdings and the Borrower will not permit any Subsidiary to, engage to any material extent in any business other than
businesses of the type conducted by the Borrower and the Subsidiaries on the Effective Date and businesses reasonably related or incidental thereto. 
  
 (c) Holdings will not engage in any business or activity other than the ownership of all the outstanding shares of capital stock of the Borrower (but no
other subsidiaries) and engaging in corporate and administrative functions and other activities incidental thereto. Holdings will not own or acquire any assets (other than any cash on hand as of the Effective Date not otherwise contributed to the
Borrower in connection with the Transactions, Equity Interests of the Borrower and the cash proceeds of any Restricted Payments permitted by Section 6.08 or proceeds of any issuance of Indebtedness or Equity Interests permitted by this
Agreement pending application as required by this Agreement) or incur any liabilities (other than liabilities under and permitted to be incurred under the Loan Documents and liabilities reasonably incurred in connection with its maintenance of its
existence and activities incidental thereto. 
  
 SECTION 6.04.
Investments, Loans, Advances, Guarantees and Acquisitions. Neither Holdings nor the Borrower will, nor will they permit any Subsidiary to, purchase or acquire (including pursuant to any merger with any Person that was not a wholly owned
Subsidiary prior to such merger) any Equity Interests in or evidences of indebtedness or other securities (including any option, warrant or other right to acquire any of the foregoing) of, make any loans or advances to, Guarantee any obligations of,
or make any investment or any other interest in, any other Person, or purchase or otherwise acquire (in one transaction or a series of transactions) any Person or assets or division constituting a business unit (collectively,
“Investments”), except: 
  
 (i)
Permitted Acquisitions; 
  
 (ii) Permitted
Investments; 
  
 (iii) Investments set forth on
Schedule 6.04; 
  
 (iv) Investments by
Holdings in the Borrower and by the Borrower and the Subsidiaries in Equity Interests in their respective Subsidiaries, provided that (A) any such Equity Interests held by a Loan Party shall be pledged pursuant to the Collateral
Agreement (subject to the limitations applicable to common stock of a Foreign Subsidiary referred to in the definition of “Collateral and Guarantee Requirement”) and (B) the aggregate amount of investments (other than investments set
forth on Schedule 6.04) by Loan Parties in Subsidiaries that are not Loan Parties (together with outstanding intercompany loans permitted under clause (B) to the proviso to Section 6.04(v) and outstanding Guarantees permitted to be
incurred under clause (B) to the proviso to Section 6.04(vi)) shall not exceed $5,000,000 at any time outstanding (in each case determined without regard to any write-downs or write-offs); 
  

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 (v) loans or advances made by the Borrower to any Subsidiary and made by any Subsidiary
to the Borrower or any other Subsidiary, provided that (A) any such loans and advances made by a Loan Party shall be evidenced by a promissory note pledged pursuant to the Collateral Agreement and (B) the amount of such loans and
advances made by Loan Parties to Subsidiaries that are not Loan Parties (together with outstanding investments permitted under clause (B) to the proviso to Section 6.04(iv) and outstanding Guarantees permitted under clause (B) to the
proviso to Section 6.04(vi)) shall not exceed $5,000,000 at any time outstanding (in each case determined without regard to any write-downs or write-offs); 
  
 (vi) Guarantees constituting Indebtedness permitted by Section 6.01, provided that (and without
limiting the foregoing) the aggregate principal amount of Indebtedness of Subsidiaries that are not Loan Parties that is Guaranteed by any Loan Party (together with outstanding investments permitted under clause (B) to the proviso to
Section 6.04(iv) and outstanding intercompany loans permitted under clause (B) to the proviso to Section 6.04(v)) shall not exceed $5,000,000 at any time outstanding (in each case determined without regard to any write-downs or
write-offs); 
  
 (vii) payments, loans or
advances to, and investments in, any Consolidated Practice by the Borrower or any Subsidiary in the ordinary course of business and consistent with past practice in satisfaction of its obligations under any Management Services Agreements;

  
 (viii) payments subject to reimbursement that
are made by the Borrower or any Subsidiary in the ordinary course of business on behalf of any Managed Practice in connection with the provision of services to such Managed Practice; 
  
 (ix) receivables or other trade payables owing to the Borrower or any Subsidiary if created or acquired in
the ordinary course of business consistent with past practice and payable or dischargeable in accordance with customary trade terms, provided that such trade terms may include such concessionary trade terms as the Borrower or any such
Subsidiary deems reasonable under the circumstances; 
  
 (x) Investments consisting of Equity Interests, obligations, securities or other property received in settlement of delinquent accounts of and disputes with customers and suppliers in the ordinary course of business and owing to the
Borrower or any Subsidiary or in satisfaction of judgments; 
  
 (xi) Investments by the Borrower or any Subsidiary in payroll, travel and similar advances to cover matters that are expected at the time of such advances ultimately to be treated as expenses for accounting purposes
and that are made in the ordinary course of business; 
  
 (xii) loans or advances by the Borrower or any Subsidiary to employees (a) made for reasonable and customary business-related travel, entertainment, relocation and analogous ordinary business purposes and (b) otherwise not
exceeding $2,500,000 in the aggregate at any time outstanding (determined without regard to any write-downs or write-offs of such loans or advances); 
  
 (xiii) Investments in the form of Swap Agreements permitted by Section 6.07; 
  
 (xiv) Investments of any Person existing at the time such
Person becomes a Subsidiary of the Borrower or consolidates or merges with the Borrower or any of the Subsidiaries (including in connection with a Permitted Acquisition) so long as such investments were not made in contemplation of such Person
becoming a Subsidiary or of such consolidation or merger; 
  

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 (xv) Investments received in connection with the dispositions of assets permitted by
Section 6.05; 
  
 (xvi) Investments
constituting deposits described in clauses (c) and (d) of the definition of the term “Permitted Encumbrances”; 
  
 (xvii) Investments by the Borrower or any Subsidiary in an aggregate amount, as valued at cost at the time each such Investment is made
and including all related commitments for future advances, not exceeding the Available Amount immediately prior to the time of the making of any such Investment; 
  
 (xviii) Investments by the Borrower or any Subsidiary in an aggregate amount not to exceed the sum of
(A) $18,000,000 and (B) an amount equal to any returns (including dividends, interest, distributions, returns of principal and profits on sale) actually theretofore received in cash in respect of any such investment, loan or advance (which
amount shall not exceed the amount of such Investment valued at cost at the time such Investment was made); 
  
 (xix) Guarantees by Holdings, the Borrower or any Subsidiary of leases (other than Capitalized Leases) or of other obligations that do not
constitute Indebtedness, in each case entered into in the ordinary course of business; and 
  
 (xx) Investments, loans and advances by the Borrower or any Subsidiary to any Insurance Subsidiary in amounts equal to the actuarial self
insurance requirements of Holdings and the subsidiaries and the general corporate overhead expenses of such Insurance Subsidiary. 
  
 SECTION 6.05. Asset Sales. Neither Holdings nor the Borrower will, nor will they permit any Subsidiary to, sell, transfer, lease or otherwise
dispose of any asset, including any Equity Interest owned by it, nor will the Borrower permit any Subsidiary to issue any additional Equity Interest in such Subsidiary (other than to the Borrower or another Subsidiary in compliance with
Section 6.04), except: 
  
 (a) sales,
transfers and dispositions of (i) inventory in the ordinary course of business and (ii) used, obsolete, worn out or surplus equipment or property in the ordinary course of business; 
  
 (b) sales, transfers and dispositions to the Borrower or any
Subsidiary, provided that any such sales, transfers or dispositions from a Loan Party to a Subsidiary that is not a Loan Party is permitted under Section 6.04; 
  
 (c) sales, transfers and dispositions of accounts receivable in connection with the compromise, settlement
or collection thereof consistent with past practice; 
  
 (d) sales, transfers and dispositions of property to the extent such property constitutes an investment permitted by clauses (ii), (x) and (xiv) of Section 6.04; 
  
 (e) sale and leaseback transactions permitted by Section 6.06; 
  

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 (f) dispositions resulting from any casualty or other insured damage to, or any taking
under power of eminent domain or by condemnation or similar proceeding of, any property or asset of the Borrower or any Subsidiary; 
  
 (g) sales, transfers and other dispositions of assets (other than Equity Interests in a Subsidiary unless all Equity Interests in such
Subsidiary are sold) that are not permitted by any other paragraph of this Section 6.05, provided that the aggregate fair value of all assets sold, transferred or otherwise disposed of in reliance upon this paragraph (g) shall not
exceed $5,000,000 (excluding any single transaction or series of related transactions that involves assets having a Fair Market Value of less than $250,000) during any fiscal year and $25,000,000 (excluding any single transaction or series of
related transactions that involves assets having a Fair Market Value of less than $250,000) in the aggregate during the term of this Agreement; 
  
 (h) exchanges of property for similar replacement property for fair value; and 
  
 (i) Investments in compliance with Section 6.04

  
 provided that all sales, transfers, leases and other dispositions
permitted hereby (other than those permitted by paragraphs (b), (c) and (f) above) shall be made for fair value and (other than those permitted by paragraphs (b), (h) and (i) above) for at least 75% cash consideration,
plus (for all such sales, transfers, leases and other dispositions permitted hereby) an aggregate additional amount of non-cash consideration in the amount of $3,000,000 (it being understood that for purposes of paragraph (a) above,
accounts receivable received in the ordinary course and any property received in exchange for used, obsolete, worn out or surplus equipment or property and any non-cash consideration that was actually converted into cash within 6 months following
the applicable sale, transfer, lease or other disposition by the Borrower or any of its Subsidiaries shall be deemed to constitute cash consideration). 
  
 SECTION 6.06. Sale and Leaseback Transactions. Neither Holdings nor the Borrower will, nor will they permit any Subsidiary to, enter into any
arrangement, directly or indirectly, whereby it shall sell or transfer any property, real or personal, used or useful in its business, whether now owned or hereafter acquired, and thereafter rent or lease such property or other property that it
intends to use for substantially the same purpose or purposes as the property sold or transferred, except for (x) any such sale of any fixed or capital assets hereafter acquired by the Borrower or any Subsidiary which sale is made for cash
consideration in an amount not less than the fair value of such fixed or capital asset and is consummated within 120 days after the Borrower or such Subsidiary acquires or completes the construction of such fixed or capital asset or (y) sale
and leaseback transactions with respect to properties acquired after the Effective Date, where the Fair Market Value of such properties in the aggregate does not to exceed $7,500,000. 
  
 SECTION 6.07. Swap Agreements. Neither Holdings nor the Borrower will, nor will they permit any Subsidiary to, enter
into any Swap Agreement, except (a) Swap Agreements entered into to hedge or mitigate risks to which the Borrower or any Subsidiary has actual exposure (other than those in respect of Equity Interests of the Borrower or any of the Subsidiaries)
and (b) Swap Agreements entered into in order to effectively cap, collar or exchange interest rates (from fixed to floating rates, from one floating rate to another floating rate or otherwise) with respect to any interest-bearing liability or
investment of the Borrower or any Subsidiary. 
  

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 SECTION 6.08. Restricted Payments; Certain Payments of Indebtedness. 
  
 (a) Neither Holdings nor the Borrower will, nor will they permit any
Subsidiary to, declare or make, or agree to pay or make, directly or indirectly, any Restricted Payment, or incur any obligation (contingent or otherwise) to do so, except: 
  
 (i) each of Holdings and the Borrower may declare and pay dividends with respect to its common stock payable
solely in additional shares of its common stock, and, with respect to its preferred stock, payable solely in additional shares of such preferred stock or in shares of its common stock; 
  
 (ii) Subsidiaries may declare and pay dividends ratably with respect to their capital stock, membership or
partnership interests or other similar Equity Interests; 
  
 (iii) Holdings may (or may make Restricted Payments to allow a Parent to purchase or redeem (and the Borrower may declare and pay dividends or make other distributions to Holdings, the proceeds of which are used by
Holdings or a Parent to purchase or redeem) Equity Interests of Holdings or a Parent acquired by employees, consultants or directors of Holdings, the Borrower or any Subsidiary upon such Person’s death, disability, retirement or termination of
employment, provided that the aggregate amount of such purchases or redemptions under this clause (iii) shall not exceed in any calendar year the lesser of (x) the sum of $500,000 and the aggregate amount of Restricted Payments
permitted (but not made) in prior years pursuant to this clause (iii) and (y) $2,500,000; 
  
 (iv) the Borrower may make Restricted Payments to Holdings to be used by Holdings solely to pay (or to make Restricted Payments to allow a
Parent to pay) its franchise taxes and other fees required to maintain its corporate existence and to pay for general corporate and overhead expenses (including salaries and other compensation of employees) incurred by Holdings or a Parent in the
ordinary course of its business, provided that such Restricted Payments shall not exceed $500,000 in any calendar year; 
  
 (v) the Borrower may make Restricted Payments to Holdings in an amount necessary to enable Holdings to pay (or make Restricted Payments to
allow a Parent to pay) the Taxes directly attributable to (or arising as a result of) the operations of a Parent, Holdings, the Borrower and the Subsidiaries, provided that (A) the amount of such Restricted Payments shall not exceed the
amount that the Borrower and the Subsidiaries would be required to pay in respect of Federal, state and local taxes were the Borrower and the Subsidiaries to pay such taxes as stand-alone taxpayers (including any interest or penalties thereon, if
applicable) and (B) all Restricted Payments made to Holdings or a Parent pursuant to this clause (v) are used by Holdings or a Parent for the purposes specified herein within 20 days of the receipt thereof; 
  
 (vi) cashless repurchases of Equity Interests of Holdings
deemed to occur upon exercise of stock options or warrants if such Equity Interests represent a portion of the exercise price of such options or warrants; 
  
 (vii) the Borrower may make Restricted Payments to Holdings to pay management, consulting and advisory fees to any Sponsor or Sponsor
Affiliate to the extent permitted by Section 6.09; 
  
 (viii) the Borrower may make Restricted Payments to Holdings in an amount necessary to permit Holdings to pay (or to make Restricted Payments to allow a Parent to pay) interest in 
  

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 cash (including interest previously paid “in kind” or added to the principal amount thereof
after the Effective Date) on (A) the Holdings Senior Subordinated Notes and (B) Qualified Holdings Debt, but only to the extent the proceeds (together with a pro rata portion of related transaction expenses paid from such proceeds)
of such Qualified Holdings Debt were used to make Capital Expenditures (without giving effect to the proviso in the definition of “Capital Expenditures”), prepay Tranche B Term Loans, make Investments pursuant to Section 6.04(xvii) or
repay, redeem, defease or otherwise refinance the Holdings Senior Subordinated Notes (or any Qualified Holdings Debt previously issued hereunder but only to the extent the proceeds of such Qualified Holdings Debt were used to make Capital
Expenditures (without giving effect to the proviso in the definition of “Capital Expenditures”), prepay Tranche B Term Loans or make Investments pursuant to Section 6.04) or were Otherwise Applied, provided that (A) the
Borrower has made all prepayments required pursuant to Section 2.11(d) prior to or contemporaneously with any such payment of interest, (B) no Default or Event of Default shall have occurred and be continuing at the time of any such
payment or would result therefrom, (C) all Restricted Payments made pursuant to this clause (viii) are used by Holdings or a Parent for the purposes specified herein within 20 days of receipt thereof and (D) after giving effect to any
Restricted Payment under this clause (viii) the Borrower shall be, assuming that such Holdings Senior Subordinated Notes and/or Qualified Holdings Debt paid cash interest for the preceding four consecutive fiscal quarters, in pro forma
compliance with Section 6.12 based on the latest four consecutive fiscal quarter period for which financial statements are available (it being understood that in calculating the Borrower’s pro forma compliance with
Section 6.12, Consolidated Cash Interest Expense shall include interest on the Holdings Senior Subordinated Notes and/or Qualified Holdings Debt, as applicable, in an amount not to exceed the amount of interest that would accrue on such
Indebtedness in one four consecutive fiscal quarter period); 
  
 (ix) the Borrower and the Subsidiaries may make additional Restricted Payments (and Holdings may make Restricted Payments with such amounts received from the Borrower) in an aggregate amount not exceeding the
Available Amount immediately prior to the time of the making of such Restricted Payment; provided that (A) immediately prior to and after giving effect to such Restricted Payment, the Leverage Ratio is less than or equal to 3.50 to 1.00
and (B) no Default has occurred and is continuing or would result therefrom; 
  
 (x) the Borrower may make Restricted Payments to Holdings to pay any non-recurring fees, cash charges and cost expenses incurred in
connection with the issuance of Equity Interests or Indebtedness, in each case only to the extent that such transaction is not consummated; 
  
 (xi) payments to former stockholders of the Borrower in connection with the exercise of appraisal rights under applicable law; 

 
 (xii) the Merger Consideration paid on or promptly
following the Effective Date; and 
  
 (xiii)
Holdings may make Restricted Payments with the Net Proceeds received by Holdings from any issuance of any Equity Interests (or capital contribution in respect thereof) or Qualified Holdings Debt to the extent such Net Proceeds are not contributed or
otherwise received by the Borrower or any of the Subsidiaries; provided that no Default or Event of Default has occurred and is continuing or would result therefrom; 
  
 (b) The Borrower will not nor will it permit any Subsidiary to, make or agree to pay or make, directly or indirectly, any
payment or other distribution (whether in cash, securities or other property) of or in respect of principal of or interest on, or any payment or other distribution (whether in 
  

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 cash, securities or other property), including any sinking fund or similar deposit, on account of the purchase,
redemption, retirement, acquisition, cancellation or termination of, any Subordinated Indebtedness (other than intercompany loans among Subsidiaries and the Borrower), except: 
  
 (i) payment of regularly scheduled interest and principal payments as and when due in respect of any
Subordinated Indebtedness, other than as prohibited by the subordination provisions thereof; 
  
 (ii) the conversion or exchange of any Subordinated Indebtedness into, or redemption, repurchase, prepayment, defeasance or other
retirement of any such Indebtedness with the Net Proceeds of the issuance by Holdings or a Parent of, (A) Equity Interests (or capital contributions in respect thereof) after the Effective Date to the extent not Otherwise Applied or
(B) Qualified Holdings Debt, plus any fees and expenses in connection with such conversion, exchange, redemption, repurchase, prepayment, defeasance or other retirement; and 
  
 (iii) so long as no Default has occurred and is continuing or would result therefrom, the prepayment,
redemption, defeasance, repurchase or other retirement of Senior Subordinated Notes or Additional Subordinated Debt for an aggregate purchase price not to exceed the sum of (x) the Available Amount; provided that immediately prior to and
after giving effect to such Restricted Payment, the Leverage Ratio is less than or equal to 3.75 to 1.00 and (y) $10.0 million in the aggregate since the Effective Date. 
  
 SECTION 6.09. Transactions with Affiliates. Neither Holdings nor the Borrower will, nor will they permit any
Subsidiary to, sell, lease or otherwise transfer any property or assets to, or purchase, lease or otherwise acquire any property or assets from, or otherwise engage in any other transactions with, any of its Affiliates, except 
  
 (a) transactions that are at prices and on terms and
conditions not less favorable to Holdings, the Borrower or such Subsidiary than could be obtained on an arm’s-length basis from unrelated third parties, 
  

(b) (i) transactions between or among the Borrower and the Subsidiary Loan Parties, (ii) transactions between or among the
subsidiaries that are not Subsidiary Loan Parties and (iii) transactions between or among the Borrower and its subsidiaries and Managed Practices consistent with past practice and made in the ordinary course, 
  
 (c) any investment permitted under Section 6.04(iv),
6.04(v), 6.04(vii), 6.04(viii) 6.04(ix), 6.04(xv) 6.04(xix) or 6.04(xx), 
  
 (d) any Indebtedness permitted under Section 6.01(a)(iv), 
  
 (e) any Restricted Payment permitted under Section 6.08, 
  
 (f) any sale, transfer or disposition permitted under Section 6.05, 
  
 (g) loans or advances to employees permitted under
Section 6.04, 
  
 (h) any lease entered into
between the Borrower or any Subsidiary, as lessee, and any of the Affiliates (as of the Effective Date) of the Borrower or entity controlled by such Affiliates, as lessor, which is approved in good faith by a majority of the disinterested members of
the Board of Directors of the Borrower, 
  

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 (i) so long as no Default described in Section 7.01(b) and no Event of Default has
occurred and is continuing, the Borrower may pay, or may pay cash dividends to enable Holdings to pay, (A) customary management, consulting, monitoring or advisory fees to the Sponsor or any Sponsor Affiliates in an aggregate amount not greater
than $1,000,000 during any fiscal year (plus any unpaid management, consulting, monitoring or advisory fees within such amount accrued in any prior year) and (B) fees in respect of any financings, acquisitions or dispositions with respect to
which the Sponsor or any Sponsor Affiliate acts as an adviser to Holdings, the Borrower or any Subsidiary in an amount not to exceed 2.0% of the value of any such transaction, 
  
 (j) any contribution to the capital of Holdings directly or indirectly by the Permitted Investors or any
purchase of Equity Interests of Holdings by the Permitted Investors not prohibited by this Agreement, 
  
 (k) the payment of reasonable fees to directors of Holdings, the Borrower or any Subsidiary who are not employees of Holdings, the
Borrower or any Subsidiary, and compensation and employee benefit arrangements paid to, and indemnities provided for the benefit of, directors, officers or employees of Holdings, the Borrower or any Subsidiary in the ordinary course of business,

  
 (l) any issuances of securities or other
payments, awards or grants in cash, securities or otherwise pursuant to, or the funding of, employment agreements, stock options and stock ownership plans approved by the Borrower’s Board of Directors, 
  
 (m) transactions pursuant to agreements set forth on
Schedule 6.09 and any amendments thereto to the extent such amendments are not materially less favorable to the Borrower or such Subsidiary Loan Party than those provided for in the original agreements, 
  
 (n) employment and severance arrangements entered into in
the ordinary course of business and approved by the Borrower’s Board of Directors between a Parent, Holdings, the Borrower or any Subsidiary and any employee thereof, 
  
 (o) all payments made or to be made in connection with the Transactions, including the payment of the
Transaction Costs in an aggregate amount not to exceed $18,700,000, and 
  
 (p) payments by the Borrower or any of its Subsidiaries of reasonable insurance premiums to, and any borrowings or dividends received from, any Insurance Subsidiary. 
  
 SECTION 6.10. Restrictive Agreements. 
  
 (a) Subject to clauses (b) through (d) below, neither Holdings nor
the Borrower will, nor will they permit any Subsidiary to, directly or indirectly, enter into, incur or permit to exist any agreement or other arrangement that prohibits, restricts or imposes any condition upon (i) the ability of Holdings, the
Borrower or any Subsidiary to create, incur or permit to exist any Lien upon any of its property or assets or (ii) the ability of any Subsidiary to pay dividends or other distributions with respect to any shares of its capital stock or to make
or repay loans or advances to the Borrower or any other Subsidiary or to Guarantee Indebtedness of the Borrower or any other Subsidiary. 
  
 (b) The foregoing clause (a) shall not apply to restrictions and conditions (i) imposed by law or by any Loan Document, Senior Subordinated
Notes Document or documentation governing any Qualified Holdings Subordinated Debt, Additional Subordinated Debt, Additional Senior Debt, or Indebtedness of a Foreign Subsidiary permitted to be incurred under this Agreement (provided that
such restrictions 
  

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 shall apply only to such Foreign Subsidiary), (ii) existing on the date hereof identified on Schedule 6.10
(but shall apply to any extension or renewal of, or any amendment or modification expanding the scope of, any such restriction or condition), (iii) contained in agreements relating to the sale of a Subsidiary pending such sale, provided
such restrictions and conditions apply only to the Subsidiary that is to be sold and such sale is permitted hereunder and (iv) imposed on any Consolidated Practice by (and for the benefit of) any Loan Party, (v) imposed by law on any
Insurance Subsidiary and (vi) imposed by any customary provisions restricting assignment of any agreement entered into the ordinary course of business. 
  
 (c) The foregoing clause (a)(i) shall not apply to restrictions or conditions (i) imposed by any agreement relating to secured Indebtedness permitted
by this Agreement if such restrictions or conditions apply only to the property or assets securing such Indebtedness and (ii) imposed by customary provisions in leases restricting the assignment thereof. 
  
 (d) The foregoing clause (a)(ii) shall not apply to customary provisions in
joint venture agreements relating to purchase options, rights of first refusal or call or similar rights of a third party that owns Equity Interests in such joint venture. 
  
 SECTION 6.11. Amendment of Material Documents. Neither Holdings nor the Borrower will, nor will they permit any
Subsidiary to, amend, modify or waive any of its rights under (a) any Senior Subordinated Notes Document, (b) the documentation governing any Additional Subordinated Debt, (c) the documentation governing any Additional Senior Debt or
(d) its certificate of incorporation, by-laws or other organizational documents, in each case to the extent such amendment, modification or waiver would be materially adverse to the Lenders. 
  
 SECTION 6.12. Interest Expense Coverage Ratio. The Borrower will not
permit the ratio (the “Interest Expense Coverage Ratio”) of (a) Consolidated EBITDA to (b) Consolidated Cash Interest Expense, in each case for any period of four consecutive fiscal quarters ending on any date set forth
below, to be less than the ratio set forth below opposite such date: 
  

			
	 Date

	 	     Ratio    

	 March 31, 2006
	 	1.75 to 1.00
		
	 June 30, 2006
	 	1.75 to 1.00
		
	 September 30, 2006
	 	1.75 to 1.00
		
	 December 31, 2006
	 	1.875 to 1.00
		
	 March 31, 2007
	 	2.00 to 1.00
		
	 June 30, 2007
	 	2.25 to 1.00
		
	 September 30, 2007
	 	2.25 to 1.00
		
	 December 31, 2007
	 	2.25 to 1.00
		
	 March 31, 2008
	 	2.50 to 1.00
		
	 June 30, 2008
	 	2.50 to 1.00
		
	 September 30, 2008
	 	2.50 to 1.00
		
	 December 31, 2008
	 	2.50 to 1.00

  

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	 Date

	 	     Ratio    

	 March 31, 2009
	 	2.75 to 1.00
		
	 June 30, 2009
	 	2.75 to 1.00
		
	 September 30, 2009
	 	2.75 to 1.00
		
	 December 31, 2009
	 	2.75 to 1.00
		
	 March 31, 2010 and thereafter
	 	3.00 to 1.00

  
 SECTION 6.13.
Leverage Ratio. The Borrower will not permit the Leverage Ratio as of any date set forth below to exceed the ratio set forth opposite such date: 
  

			
	 Date

	 	     Ratio    

	 March 31, 2006
	 	 6.00 to 1.00

		
	 June 30, 2006
	 	 6.00 to 1.00

		
	 September 30, 2006
	 	 5.75 to 1.00

		
	 December 31, 2006
	 	 5.50 to 1.00

		
	 March 31, 2007
	 	 5.25 to 1.00

		
	 June 30, 2007
	 	 5.00 to 1.00

		
	 September 30, 2007
	 	 4.75 to 1.00

		
	 December 31, 2007
	 	 4.75 to 1.00

		
	 March 31, 2008
	 	 4.50 to 1.00

		
	 June 30, 2008
	 	 4.50 to 1.00

		
	 September 30, 2008
	 	 4.25 to 1.00

		
	 December 31, 2008
	 	 4.25 to 1.00

		
	 March 31, 2009
	 	 4.00 to 1.00

		
	 June 30, 2009
	 	 4.00 to 1.00

		
	 September 30, 2009
	 	 3.75 to 1.00

		
	 December 31, 2009
	 	 3.75 to 1.00

		
	 March 31, 2010
	 	 3.50 to 1.00

		
	 June 30, 2010
	 	 3.50 to 1.00

		
	 September 30, 2010
	 	 3.25 to 1.00

		
	 December 31, 2010
	 	 3.25 to 1.00

		
	 March 31, 2011 and thereafter
	 	 3.00 to 1.00

  

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 SECTION 6.14. Maximum Capital Expenditures. The Borrower will not, nor will it permit any
Subsidiary to, incur or make any Capital Expenditures except and as set forth below: 
  

				
	 Fiscal Year

	  	Maximum Capital
Expenditures

	 2006
	  	$	40.0 million
	 2007
	  	$	35.0 million
	 2008
	  	$	30.0 million
	 2009
	  	$	30.0 million
	 2010
	  	$	30.0 million
	 2011
	  	$	35.0 million
	 2012
	  	$	35.0 million
	 2013
	  	$	35.0 million

  
 ; provided that if the
aggregate amount of Capital Expenditures made in any fiscal year shall be less than the maximum amount of Capital Expenditures permitted under this Section 6.14 for such fiscal year (including any carryover), then an amount of such shortfall
not exceeding 50% of such maximum amount (not including any carryover) may be added to the amount of Capital Expenditures permitted under this Section 6.14 for the immediately succeeding (but not any other) fiscal year. 
  
 SECTION 6.15. Fiscal Year. The Borrower will not change its fiscal
year-end to a date other than December 31. 
  
 ARTICLE VII

  
 Events of Default 
  
 SECTION 7.01. Events of Default. If any of the following events (any
such event, an “Event of Default”) shall occur: 
  
 (a) the Borrower shall fail to pay any principal of any Loan or any reimbursement obligation in respect of any LC Disbursement when and as the same shall become due and payable, whether at the due date thereof or at a
date fixed for prepayment thereof or otherwise; 
  
 (b) the Borrower shall fail to pay any interest on any Loan or any fee or any other amount (other than an amount referred to in paragraph (a) of this Section 7.01) payable under this Agreement or any other Loan Document, when and
as the same shall become due and payable, and such failure shall continue unremedied for a period of three Business Days; 
  
 (c) any representation or warranty made or deemed made by or on behalf of Holdings, the Borrower or any Subsidiary in or in connection
with any Loan Document or any amendment or modification thereof or waiver thereunder, or in any report, certificate, financial statement or other document furnished pursuant to or in connection with any Loan Document or any amendment or modification
thereof or waiver thereunder, shall prove to have been incorrect in any material respect (except to the extent any such representation or warranty is qualified by “materially,” “Material Adverse Effect” or a similar term, in
which case such representation or warranty shall prove to have been incorrect in any respect) when made or deemed made; 
  

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 (d) Holdings or the Borrower shall fail to observe or perform any covenant, condition or
agreement contained in Section 5.02, 5.03, 5.04 (with respect to the existence of Holdings and the Borrower), 5.11 or in Article VI; 
  
 (e) Holdings, the Borrower or any Subsidiary Loan Party shall fail to observe or perform any covenant, condition or agreement contained in
any Loan Document (other than those specified in paragraph (a), (b) or (d) of this Section 7.01), and such failure shall continue unremedied for a period of 30 days after notice thereof from the Administrative Agent to the Borrower
(which notice will be given at the request of any Lender); 
  
 (f) Holdings, the Borrower or any Subsidiary shall fail to make any payment (whether of principal or interest and regardless of amount) in respect of any Material Indebtedness, when and as the same shall become due
and payable (after giving effect to any applicable grace period); 
  
 (g) any event or condition occurs that results in any Material Indebtedness becoming due prior to its scheduled maturity or that enables or permits (with or without the giving of notice, the lapse of time or both) the
holder or holders of any Material Indebtedness or any trustee or agent on its or their behalf to cause any Material Indebtedness to become due, or to require the prepayment, repurchase, redemption or defeasance thereof, prior to its scheduled
maturity, provided that this paragraph (g) shall not apply to secured Indebtedness that becomes due as a result of the voluntary sale or transfer of the property or assets (to the extent not prohibited under this Agreement) securing such
Indebtedness; 
  
 (h) an involuntary proceeding
shall be commenced or an involuntary petition shall be filed seeking (i) liquidation, reorganization or other relief in respect of Holdings, the Borrower or any Subsidiary or its debts, or of a substantial part of its assets, under any Federal,
state or foreign bankruptcy, insolvency, receivership or similar law now or hereafter in effect or (ii) the appointment of a receiver, trustee, custodian, sequestrator, conservator or similar official for Holdings, the Borrower or any
Subsidiary or for a substantial part of its assets, and, in any such case, such proceeding or petition shall continue undismissed for 60 days or an order or decree approving or ordering any of the foregoing shall be entered; 
  
 (i) Holdings, the Borrower or any Subsidiary shall
(i) voluntarily commence any proceeding or file any petition seeking liquidation, reorganization or other relief under any Federal, state or foreign bankruptcy, insolvency, receivership or similar law now or hereafter in effect,
(ii) consent to the institution of, or fail to contest in a timely and appropriate manner, any proceeding or petition described in paragraph (h) of this Section 7.01, (iii) apply for or consent to the appointment of a receiver,
trustee, custodian, sequestrator, conservator or similar official for Holdings, the Borrower or any Subsidiary or for a substantial part of its assets, (iv) file an answer admitting the material allegations of a petition filed against it in any
such proceeding, (v) make a general assignment for the benefit of creditors or (vi) take any formal action for the purpose of effecting any of the foregoing; 
  
 (j) Holdings, the Borrower or any Subsidiary shall become unable, admit in writing its inability or fail
generally to pay its debts as they become due; 
  
 (k) one or more judgments for the payment of money (to the extent not paid or covered by insurance provided by a carrier that has acknowledged its obligation to pay such claim in writing and that has a credit rating of at least
“A” by A.M. Best Company, Inc.) in an aggregate amount in excess of $7,500,000 shall be rendered against Holdings, the Borrower, any Subsidiary 
  

 -77- 

 or any combination thereof and the same shall remain undischarged for a period of 30 consecutive days
during which execution shall not be effectively stayed, or any action shall be legally taken by a judgment creditor to attach or levy upon any assets of Holdings, the Borrower or any Subsidiary to enforce any such judgment; 
  
 (l) an ERISA Event shall have occurred that, in the opinion
of the Required Lenders, when taken together with all other ERISA Events that have occurred, could reasonably be expected to result in liability of the Borrower and the Subsidiaries in an aggregate amount exceeding $7,500,000 for all periods;

  
 (m) any Lien purported to be created under
any Security Document shall cease to be, or shall be asserted by any Loan Party not to be, a valid and perfected Lien on any material portion of the Collateral with the priority required by the applicable Security Document, except (i) as a
result of the sale or other disposition of the applicable Collateral in a transaction permitted under the Loan Documents or (ii) as a result of the Administrative Agent’s failure to maintain possession of any stock certificates, promissory
notes or other instruments delivered to it under the Collateral Agreement; 
  
 (n) any Loan Document shall for any reason be asserted by any Loan Party not to be a legal, valid and binding obligation of any party thereto; 
  
 (o) the Guarantees of the Obligations by Holdings and the Subsidiary Loan Parties pursuant to the Collateral
Agreement shall cease to be in full force and effect (other than in accordance with the terms of the Loan Documents) or shall be asserted by Holdings, the Borrower or any Subsidiary Loan Party not to be in effect or not to be legal, valid and
binding obligations; 
  
 (p) the Senior
Subordinated Notes, the Holdings Senior Subordinated Notes, any Additional Subordinated Debt or any Guarantees thereof shall cease, for any reason, to be validly subordinated to the Obligations or the obligations of Holdings and the Subsidiary Loan
Parties in respect of their Guarantees under the Collateral Agreement, as applicable, as provided in the Senior Subordinated Notes Documents, the documentation governing the Holdings Senior Subordinated Notes or the documentation governing any
Additional Subordinated Debt, as applicable, or any Loan Party or the holders of at least 25% in aggregate principal amount of the Senior Subordinated Notes, the Holdings Senior Subordinated Notes or any series of Additional Subordinated Debt shall
so assert; or 
  
 (q) a Change in Control shall
occur; 
  
 then, and in every such event (other than an event with respect to the
Borrower described in paragraph (h) or (i) of this Section 7.01), and at any time thereafter during the continuance of such event, the Administrative Agent may, and at the request of the Required Lenders shall, by notice to the
Borrower, take either or both of the following actions, at the same or different times: (i) terminate the Commitments, and thereupon the Commitments shall terminate immediately, and (ii) declare the Loans then outstanding to be due and
payable in whole (or in part, in which case any principal not so declared to be due and payable may thereafter be declared to be due and payable), and thereupon the principal of the Loans so declared to be due and payable, together with accrued
interest thereon and all fees and other obligations of the Borrower accrued hereunder, shall become due and payable immediately, without presentment, demand, protest or other notice of any kind, all of which are hereby waived by the Borrower; and in
case of any event with respect to the Borrower described in paragraph (h) or (i) of this Section 7.01, the Commitments shall automatically terminate and the principal of the Loans then outstanding, together with accrued interest
thereon and all fees and other obligations of the Borrower accrued hereunder, shall automatically become due and payable, without presentment, demand, protest or other notice of any kind, all of which are hereby waived by the Borrower. 

 

 -78- 

 SECTION 7.02. Borrower’s Right to Cure. 
  
 (a) Notwithstanding anything to the contrary contained in Section 7.01,
in the event that the Borrower fails to comply with the requirement of any Financial Performance Covenant, until the expiration of the fifth Business Day subsequent to the date on which financial statements with respect to the fiscal period for
which such Financial Performance Covenant is being measured are required to be delivered pursuant to Section 5.01, Holdings shall have the right to issue Permitted Securities (the “Cure Right”), and upon the receipt by the
Borrower of cash (such amount of cash being referred to as the “Cure Amount”) pursuant to the exercise by Holdings of such Cure Right, such Financial Performance Covenants shall be recalculated giving effect to the following pro
forma adjustments: 
  
 (i) Consolidated EBITDA
shall be increased, solely for the purpose of determining the existence of a Default or Event of Default under the Financial Performance Covenants with respect to any period of four consecutive fiscal quarters that includes the fiscal quarter for
which the Cure Right was exercised and not for any other purpose under this Agreement, by an amount equal to the Cure Amount; and 
  
 (ii) if, after giving effect to the foregoing recalculations, the Borrower shall then be in compliance with the requirements of all
Financial Performance Covenants (including for purposes of Section 4.02), the Borrower shall be deemed to have satisfied the requirements of the Financial Performance Covenants as of the relevant date of determination with the same effect as
though there had been no failure to comply therewith at such date, and the applicable breach or default of the Financial Performance Covenants that had occurred shall be deemed cured for the purposes of this Agreement. 
  
 (b) Notwithstanding anything herein to the contrary, (i) the aggregate
Cure Amount during the term of this Agreement shall not exceed $20,000,000 and (ii) the Borrower shall apply the Cure Amount to the prepayment of outstanding Revolving Loans, if any; provided that any such prepayment shall not reduce any
Lender’s Revolving Commitment; provided further that (a) in each four fiscal quarter period there shall be a period of at least two fiscal quarters in which no Cure Right is made, (b) in each eight fiscal quarter period
there shall be a period of at least four consecutive fiscal quarters during which no Cure Right is made and (c) the Cure Amount shall be no greater than the amount required to cause Borrower to be in compliance with such Financial Performance
Covenant. 
  
 SECTION 7.03. Exclusion of Immaterial
Subsidiaries. Solely for the purposes of determining whether a Default has occurred under clause (h) or (i) of Section 7.01, any reference in any such clause to any Subsidiary shall be deemed not to include any Subsidiary affected
by any event or circumstance referred to in any such clause that did not, as of the last day of the fiscal quarter of the Borrower most recently ended, have assets with a value in excess of 5% of the consolidated total assets of the Borrower and the
Subsidiaries or 5% of the total revenues of the Borrower and the Subsidiaries as of such date; provided that if it is necessary to exclude more than one Subsidiary from clause (h) or (i) of Section 7.01 pursuant to this
Section 7.03 in order to avoid an Event of Default thereunder, all excluded Subsidiaries shall be considered to be a single consolidated Subsidiary for purposes of determining whether the condition specified above is satisfied. 
  

 -79- 

 ARTICLE VIII 
  
 The Agents 
  
 SECTION 8.01. The Agents. Each of the Lenders and the Issuing Bank hereby irrevocably appoints the Administrative Agent as its agent and authorizes
the Administrative Agent to take such actions on its behalf and to exercise such powers as are delegated to the Administrative Agent by the terms of the Loan Documents, together with such actions and powers as are reasonably incidental thereto. For
purposes of this Article VIII, all references to the Administrative Agent shall be deemed to be references to both the Administrative Agent and the Collateral Agent. 
  
 The bank serving as the Administrative Agent hereunder shall have the same rights and powers in its capacity as a Lender as
any other Lender and may exercise the same as though it were not the Administrative Agent, and such bank and its Affiliates may accept deposits from, lend money to and generally engage in any kind of business with the Borrower or any Subsidiary or
other Affiliate thereof as if it were not the Administrative Agent hereunder. 
  
 The Administrative Agent shall not have any duties or obligations except those expressly set forth in the Loan Documents. Without limiting the generality of the foregoing, (a) the Administrative Agent shall not
be subject to any fiduciary or other implied duties, regardless of whether a Default has occurred and is continuing, (b) the Administrative Agent shall not have any duty to take any discretionary action or exercise any discretionary powers,
except discretionary rights and powers expressly contemplated by the Loan Documents that the Administrative Agent is required to exercise in writing as directed by the Required Lenders (or such other number or percentage of the Lenders as shall be
necessary under the circumstances as provided in Section 2.05(j) and Section 9.02), and (c) except as expressly set forth in the Loan Documents, the Administrative Agent shall not have any duty to disclose, and shall not be liable for
the failure to disclose, any information relating to Holdings, the Borrower or any of the Subsidiaries that is communicated to or obtained by the bank serving as Administrative Agent or any of its Affiliates in any capacity. The Administrative Agent
shall not be liable for any action taken or not taken by it with the consent or at the request of the Required Lenders (or such other number or percentage of the Lenders as shall be necessary under the circumstances as provided in Section 9.02)
or in the absence of its own gross negligence or willful misconduct. The Administrative Agent shall be deemed not to have knowledge of any Default unless and until written notice thereof is given to the Administrative Agent by Holdings, the Borrower
or a Lender, and the Administrative Agent shall not be responsible for or have any duty to ascertain or inquire into (i) any statement, warranty or representation made in or in connection with any Loan Document, (ii) the contents of any
certificate, report or other document delivered thereunder or in connection therewith, (iii) the performance or observance of any of the covenants, agreements or other terms or conditions set forth in any Loan Document, (iv) the validity,
enforceability, effectiveness or genuineness of any Loan Document or any other agreement, instrument or document, or (v) the satisfaction of any condition set forth in Article IV or elsewhere in any Loan Document, other than to confirm receipt
of items expressly required to be delivered to the Administrative Agent. 
  
 The Administrative Agent shall be entitled to rely upon, and shall not incur any liability for relying upon, any notice, request, certificate, consent, statement, instrument, document or other writing believed by it
to be genuine and to have been signed or sent by the proper Person. The Administrative Agent also may rely upon any statement made to it orally or by telephone and believed by it to be made by the proper Person, and shall not incur any liability for
relying thereon. The Administrative Agent may consult with legal counsel (who may be counsel for the Borrower), independent accountants and other experts selected by it, and shall not be liable for any action taken or not taken by it in accordance
with the advice of any such counsel, accountants or experts. 
  

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 The Administrative Agent may perform any and all its duties and exercise its rights and powers by or
through any one or more subagents appointed by the Administrative Agent. The Administrative Agent and any such subagent may perform any and all its duties and exercise its rights and powers through their respective Related Parties. The exculpatory
provisions of the preceding paragraphs shall apply to any such subagent and to the Related Parties of each Administrative Agent and any such subagent, and shall apply to their respective activities in connection with the syndication of the credit
facilities provided for herein as well as activities as Administrative Agent. 
  
 The Administrative Agent may resign at any time by notifying the Lenders, the Issuing Bank and the Borrower. Upon any such resignation, the Required Lenders shall have the right, in consultation with the Borrower, to
appoint a successor. If no successor shall have been so appointed by the Required Lenders and shall have accepted such appointment within 30 days after the retiring Administrative Agent gives notice of its resignation, then the retiring
Administrative Agent may, on behalf of the Lenders and the Issuing Bank, appoint a successor Administrative Agent which shall be a bank with an office in Charlotte, North Carolina or New York, New York, or an Affiliate of any such bank. Upon the
acceptance of its appointment as Administrative Agent hereunder by a successor, such successor shall succeed to and become vested with all the rights, powers, privileges and duties of the retiring Administrative Agent, and the retiring
Administrative Agent shall be discharged from its duties and obligations hereunder. The fees payable by the Borrower to a successor Administrative Agent shall be the same as those payable to its predecessor unless otherwise agreed between the
Borrower and such successor. After the Administrative Agent’s resignation hereunder, the provisions of this Article and Section 9.03 shall continue in effect for the benefit of such retiring Administrative Agent, its subagents and their
respective Related Parties in respect of any actions taken or omitted to be taken by any of them while it was acting as Administrative Agent. 
  
 Each Lender acknowledges that it has, independently and without reliance upon the Administrative Agent or any other Lender and based on such documents and
information as it has deemed appropriate, made its own credit analysis and decision to enter into this Agreement. Each Lender also acknowledges that it will, independently and without reliance upon the Administrative Agent or any other Lender and
based on such documents and information as it shall from time to time deem appropriate, continue to make its own decisions in taking or not taking action under or based upon this Agreement, any other Loan Document or related agreement or any
document furnished hereunder or thereunder. The Lenders identified in this Agreement as the Syndication Agent and the Documentation Agent shall not have any right, power, obligation, liability, responsibility or duty under this Agreement other than
those applicable to all Lenders. Without limiting the foregoing, neither the Syndication Agent nor the Documentation Agent shall have or be deemed to have a fiduciary relationship with any Lender. 
  
 ARTICLE IX 
  
 Miscellaneous 
  
 SECTION 9.01. Notices. 
  
 (a) Except in the case of notices and other communications expressly permitted to be given by telephone, all notices and other communications provided for
herein shall be in writing and shall be delivered by hand or overnight courier service, mailed by certified or registered mail or sent by telecopy, as follows: 
  

(i) if to the Borrower, to Ameripath, Inc., 7111 Fairway Drive, Suite 400, Palm Beach Gardens, FL 33418, Attention: David L. Redmond
(Telecopy No. (561) 845-2498); 
  

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 (ii) if to the Administrative Agent, to Wachovia Bank, National Association, Charlotte
Plaza, CP-8, 201 South College Street, Charlotte, N.C. 28288-0680, Attention: Syndication Agency Services. (Telecopy No. (704) 383-0288), with a copy to Wachovia Bank, National Association, 301 South College Street, NC5562, Charlotte, N.C.
28288-5562, Attention: Scott Santa Cruz. (Telecopy No. (704)383-7611), with a copy to Cahill Gordon & Reindel LLP, 80 Pine Street, New York, New York 10005, Attention: Luis R. Penalver (Telecopy No. (212) 269-5420);

  
 (iii) if to the Issuing Bank, to Wachovia
Bank, National Association, Charlotte Plaza, CP-8, 201 South College Street, Charlotte, N.C. 28288-0680, Attention: Syndication Agency Services (Telecopy No. (704) 383-0288) ; and Citicorp North America, Bank Loan Syndications, 2 Penns Way,
Suite 200, New Castle, DE 19720, (Telecopy No. (212) 994-0961); 
  
 (iv) if to the Swingline Lender, to Wachovia Bank, National Association, Charlotte Plaza, CP-8, 201 South College Street, Charlotte, N.C. 28288-0680, Attention: Syndication Agency Services (Telecopy No.
(704) 383-0288); 
  
 (v) if to the
Collateral Agent, to Wachovia Bank, National Association, Charlotte Plaza, CP-8, 201 South College Street, Charlotte, N.C. 28288-0680, Attention: Syndication Agency Services (Telecopy No. (704) 383-0288); and 
  
 (vi) if to any other Lender, to it at its address (or
telecopy number) set forth in its Administrative Questionnaire. 
  
 (b) Notices and other communications to the Lenders hereunder may be delivered or furnished by electronic communications pursuant to procedures approved by the Administrative Agent, provided that the foregoing shall not apply to
notices pursuant to Article II unless otherwise agreed by the Administrative Agent and the applicable Lender. The Administrative Agent or the Borrower may, in its discretion, agree to accept notices and other communications to it hereunder by
electronic communications pursuant to procedures approved by it, provided that approval of such procedures may be limited to particular notices or communications. 
  
 (c) Any party hereto may change its address or telecopy number for notices and other communications hereunder by notice to
the Administrative Agent (and, in the case of the Administrative Agent, by written notice to the Borrower). All notices and other communications given to any party hereto in accordance with the provisions of this Agreement shall be deemed to have
been given on the date of receipt. 
  
 SECTION 9.02. Waivers;
Amendments. 
  
 (a) No failure or delay by the Administrative
Agent, the Issuing Bank, the Collateral Agent, the Swingline Lender or any Lender in exercising any right or power hereunder or under any other Loan Document shall operate as a waiver thereof, nor shall any single or partial exercise of any such
right or power, or any abandonment or discontinuance of steps to enforce such a right or power, preclude any other or further exercise thereof or the exercise of any other right or power. The rights and remedies of the Administrative Agent, the
Issuing Bank, the Collateral Agent, the Swingline Lender and the Lenders hereunder and under the other Loan Documents are cumulative and are not exclusive of any rights or remedies that they would otherwise have. No waiver of any provision of any
Loan Document or consent to any departure by any Loan Party therefrom shall in any event be effective unless the same shall be permitted by paragraph (b) of this Section 9.02, and then such waiver or consent shall be effective only in the
specific instance and for the purpose for which given. Without limiting the generality of the foregoing, the making of a Loan or issuance of a Letter of Credit shall not be construed as a waiver of any Default, regardless of whether the
Administrative Agent, any Lender, the Collateral Agent, the Swingline Lender or the Issuing Bank may have had notice or knowledge of such Default at the time. 
  

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 (b) Except as provided in Section 2.20 with respect to an Incremental Facility Amendment (or to give
effect to any restatement of this Agreement, the substantive terms of which are otherwise permitted hereby), neither this Agreement nor any other Loan Document nor any provision hereof or thereof may be waived, amended or modified except, in the
case of this Agreement, pursuant to an agreement or agreements in writing entered into by Holdings, the Borrower and the Required Lenders or, in the case of any other Loan Document, pursuant to an agreement or agreements in writing entered into by
the Administrative Agent and the Loan Party or Loan Parties that are parties thereto, in each case with the consent of the Required Lenders; provided that no such agreement shall 
  
 (i) increase the Commitment of any Lender without the written consent of such Lender, 
  
 (ii) reduce the principal amount of any Loan or LC
Disbursement or reduce the rate of interest thereon, or reduce any fees payable hereunder, without the written consent of each Lender affected thereby, 
  
 (iii) postpone the maturity of any Loan, or any scheduled date of payment of the principal amount of any Tranche B Term Loan under
Section 2.10, the required date of reimbursement of any LC Disbursement, or any date for the payment of any interest or fees payable hereunder, or reduce the amount of, waive or excuse any such payment, or postpone the scheduled date of
expiration of any Commitment, without the written consent of each Lender affected thereby, 
  
 (iv) change Section 2.18(b) or (c) in a manner that would alter the pro rata sharing of payments required thereby,
without the written consent of each Lender, 
  
 (v) change any of the provisions of this Section 9.02 or the percentage set forth in the definition of “Required Lenders” or any other provision of any Loan Document specifying the number or percentage of Lenders (or Lenders
of any Class) required to waive, amend or modify any rights thereunder or make any determination or grant any consent thereunder, without the written consent of each Lender (or each Lender of such Class, as applicable), 
  
 (vi) release Holdings or any Subsidiary Loan Party from its
Guarantee under the Collateral Agreement (except as provided in Section 9.15 or in the Collateral Agreement) or limit its liability in respect of such Guarantee, without the written consent of each Lender, 
  
 (vii) release all or substantially all the Collateral from
the Liens of the Security Documents (except as provided in Section 9.15 or in the Collateral Agreement), without the written consent of each Lender, or 
  
 (viii) change any provisions of any Loan Document in a manner that by its terms adversely affects the rights in respect of payments due to
Lenders holding Loans of any Class differently than those holding Loans of any other Class, without the written consent of Lenders holding a majority in interest of the outstanding Loans and unused Commitments of each adversely affected Class,

  
 provided, further, that (A) no such agreement shall amend,
modify or otherwise affect the rights or duties of the Administrative Agent, the Issuing Bank or the Swingline Lender without the prior written consent 
  

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 of the Administrative Agent, the Issuing Bank or the Swingline Lender, as applicable, and (B) any waiver, amendment
or modification of this Agreement that by its terms affects the rights or duties under this Agreement of the Revolving Lenders (but not the Tranche B Lenders) or the Tranche B Lenders (but not the Revolving Lenders) may be effected by an agreement
or agreements in writing entered into by Holdings, the Borrower and requisite percentage in interest of the affected Class of Lenders that would be required to consent thereto under this Section 9.02(b) if such Class of Lenders were the only
Class of Lenders hereunder at the time. In connection with any proposed amendment, modification, waiver or termination (a “Proposed Change”) requiring the consent of all affected Lenders, if the consent of the Supermajority Lenders
(and, to the extent any Proposed Change requires the consent of Lenders holding Loans of any Class pursuant to clause (viii) of this Section 9.02(b), the consent of not less than 75% in interest of the outstanding Loans and unused
Commitments of such Class) to such Proposed Change is obtained, but the consent to such Proposed Change of other Lenders whose consent is required is not obtained (any such Lender whose consent is not obtained as described in this
Section 9.02(b) being referred to as a “Non-Consenting Lender”), then, so long as the Lender that is acting as the Administrative Agent is not a Non-Consenting Lender, at the Borrower’s request, any assignee that is
acceptable to the Administrative Agent shall have the right, with the Administrative Agent’s consent, to purchase from such Non-Consenting Lender, and such Non-Consenting Lender agrees that it shall, upon the Borrower’s request, sell and
assign to such assignee, at no expense to such Non-Consenting Lender, all the Commitments, Tranche B Term Loans and Revolving Exposure of such Non-Consenting Lender for an amount equal to the principal balance of all Tranche B Term Loans and
Revolving Loans (and funded participations in Swingline Loans and unreimbursed LC Disbursements) held by such Non-Consenting Lender and all accrued interest and fees with respect thereto through the date of sale (including amounts under Sections
2.15, 2.16 and 2.17), such purchase and sale to be consummated pursuant to an executed Assignment and Assumption in accordance with Section 9.04(b) (which Assignment and Assumption need not be signed by such Non-Consenting Lender). 

 
 (c) Notwithstanding the provisions of clause (b), this Agreement may be
amended (or amended and restated) with the written consent of the Required Lenders, the Administrative Agent, Holdings and the Borrower (i) to add one or more additional credit facilities to this Agreement and to permit the extensions of credit
from time to time thereunder and the accrued interest and fees in respect thereof to share ratably in the benefits of this Agreement and the other Loan Documents with the Tranche B Term Loans and the Revolving Loans and the accrued interest and fees
in respect thereof, and (ii) to include appropriately the Lenders holding such credit facilities in any determination of the Required Lenders. In addition, this Agreement may be amended with the written consent of the Administrative Agent,
Holdings, the Borrower and the Lenders providing the relevant Replacement Term Loans (as defined below) to permit the refinancing of all outstanding Tranche B Term Loans (the “Refinanced Term Loans”) with a replacement term loan
tranche hereunder (the “Replacement Term Loans”); provided that (i) the aggregate principal amount of such Replacement Term Loans shall not exceed the aggregate principal amount of such Refinanced Term Loans,
(ii) the Applicable Rate for such Replacement Term Loans shall not be higher than the Applicable Rate for such Refinanced Term Loans, (iii) the weighted average life to maturity of such Replacement Term Loans shall not be shorter than the
weighted average life to maturity of such Refinanced Term Loans at the time of such refinancing (except to the extent of nominal amortization for periods where amortization has been eliminated as a result of prepayment of the Tranche B Term Loans)
and (iv) all other terms applicable to such Replacement Term Loans shall be substantially identical to, or less favorable to the Lenders providing such Replacement Term Loans than, those applicable to such Refinanced Term Loans, except to the
extent necessary to provide for covenants and other terms applicable to any period after the latest final maturity of the Tranche B Term Loans in effect immediately prior to such refinancing. 
  

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 SECTION 9.03. Expenses; Indemnity; Damage Waiver. 
  
 (a) The Borrower shall pay (i) all reasonable out-of-pocket expenses
incurred by the Agents and their respective Affiliates, including the reasonable fees, charges and disbursements of counsel for the Agents, in connection with the syndication of the credit facilities provided for herein, the preparation and
administration of the Loan Documents or any amendments, modifications or waivers of the provisions thereof (whether or not the transactions contemplated hereby or thereby shall be consummated), (ii) all reasonable out-of-pocket expenses
incurred by the Issuing Bank in connection with the issuance, amendment, renewal or extension of any Letter of Credit or any demand for payment thereunder and (iii) all reasonable out-of-pocket expenses incurred by the Administrative Agent, the
Issuing Bank or any Lender, including the reasonable fees, charges and disbursements of any counsel for the Administrative Agent, the Issuing Bank or any Lender, in connection with the enforcement or protection of its rights in connection with the
Loan Documents, including its rights under this Section 9.03, or in connection with the Loans made or Letters of Credit issued hereunder, including all such reasonable out-of-pocket expenses incurred during any workout, restructuring or
negotiations in respect of such Loans or Letters of Credit. 
  
 (b) The Borrower shall indemnify the Administrative Agent, each Agent, the Issuing Bank and each Lender, and each Related Party of any of the foregoing Persons (each such Person being called an “Indemnitee”), and hold each
Indemnitee harmless, from and against any and all losses, claims, damages, liabilities and related expenses, including the fees, charges and disbursements of any counsel for any Indemnitee, incurred by or asserted against any Indemnitee arising out
of, in connection with, or as a result of (i) the execution or delivery of any Loan Document or any other agreement or instrument contemplated hereby, the performance by the parties to the Loan Documents of their respective obligations
thereunder or the consummation of the Transactions or any other transactions contemplated hereby, (ii) any Loan or Letter of Credit or the use of the proceeds therefrom (including any refusal by the Issuing Bank to honor a demand for payment
under a Letter of Credit if the documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit), (iii) any actual or alleged presence or Release of Hazardous Materials on, at, under or from any
Mortgaged Property or any other property currently or formerly owned or operated by the Borrower or any of its Subsidiaries, or any actual or alleged Environmental Liability related in any way to the Borrower or any of its Subsidiaries or their
respective properties or operations, or (iv) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory and regardless of whether any Indemnitee
is a party thereto, provided that such indemnity shall not, as to any Indemnitee, be available to the extent that such losses, claims, damages, liabilities or related expenses are finally judicially determined by a court of competent
jurisdiction to have resulted from the gross negligence or willful misconduct of such Indemnitee. 
  
 (c) To the extent that the Borrower fails to pay any amount required to be paid by it to the Administrative Agent, each Agent, the Issuing Bank or the
Swingline Lender under paragraph (a) or (b) of this Section 9.03, each Lender severally agrees to pay to the Administrative Agent, such Agent, the Issuing Bank or the Swingline Lender, as applicable, such Lender’s pro
rata share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought) of such unpaid amount, provided that the unreimbursed expense or indemnified loss, claim, damage, liability or related
expense, as applicable, was incurred by or asserted against the Administrative Agent, the Issuing Bank or the Swingline Lender in its capacity as such. For purposes hereof, a Lender’s “pro rata share” shall be determined
based upon its share of the aggregate Revolving Exposures, outstanding Tranche B Term Loans and unused Commitments at the time. 
  

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 (d) To the extent permitted by applicable law, neither Holdings nor the Borrower shall assert, and each
hereby waives, any claim against any Indemnitee, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement or
any agreement or instrument contemplated hereby, the Transactions, any Loan or Letter of Credit or the use of the proceeds thereof. 
  
 (e) All amounts due under this Section 9.03 shall be payable not later than three days after written demand therefor. 
  
 SECTION 9.04. Successors and Assigns. 
  
 (a) The provisions of this Agreement shall be binding upon and inure to the
benefit of the parties hereto and their respective successors and assigns permitted hereby (including any Affiliate of the Issuing Bank that issues any Letter of Credit), except that (i) the Borrower may not assign or otherwise transfer any of
its rights or obligations hereunder without the prior written consent of each Lender (and any attempted assignment or transfer by the Borrower without such consent shall be null and void) and (ii) no Lender may assign or otherwise transfer its
rights or obligations hereunder except in accordance with this Section. Nothing in this Agreement, express or implied, shall be construed to confer upon any Person (other than the parties hereto, their respective successors and assigns permitted
hereby (including any Affiliate of the Issuing Bank that issues any Letter of Credit), Participants (to the extent provided in paragraph (c) of this Section 9.04) and, to the extent expressly contemplated hereby, the Related Parties of
each of the Administrative Agent, the Issuing Bank and the Lenders) any legal or equitable right, remedy or claim under or by reason of this Agreement. 
  
 (b) (i) Subject to the conditions set forth in paragraph (b)(ii) below, any Lender may assign to one or more assignees all or a portion of its rights and
obligations under this Agreement (including all or a portion of its Commitment and the Loans at the time owing to it) with the prior written consent (such consent not to be unreasonably withheld or delayed) of: 
  
 (1) the Borrower, provided that no consent of the
Borrower shall be required for an assignment to a Lender, an Affiliate of a Lender, an Approved Fund (as defined below) or, if an Event of Default has occurred and is continuing, any other assignee; 
  
 (2) the Administrative Agent, provided that no
consent of the Administrative Agent shall be required for an assignment of all or any portion of a Tranche B Term Loan to a Lender, an Affiliate of a Lender or an Approved Fund; and 
  
 (3) the Issuing Bank, provided that no consent of the Issuing Bank shall be required for an
assignment of all or any portion of a Tranche B Term Loan. 
  
 (ii) Assignments shall be subject to the following conditions: 
  
 (1) except in the case of an assignment to a Lender or an Affiliate of a Lender or an assignment of the entire remaining amount of the
assigning Lender’s Commitment or Loans of any Class, the amount of the Commitment or Loans of the assigning Lender subject to each such assignment (determined as of the date the Assignment and Assumption with respect to such assignment is
delivered to the Administrative Agent) shall not be less than $5,000,000 or, in the case of a Tranche B Term Loan, $1,000,000, unless each of the Borrower and the Administrative Agent otherwise consents; provided that no such consent of the
Borrower shall be required (x) for an assignment by a Lender to an Approved Fund of a Lender or (y) if an Event of Default has occurred and is continuing; 
  

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 (2) each partial assignment shall be made as an assignment of a proportionate part of all
the assigning Lender’s rights and obligations under this Agreement; provided that this clause shall not be construed to prohibit assignment of a proportionate part of all the assigning Lender’s rights and obligations in respect of
one Class of Commitments or Loans; 
  
 (3) the
parties to each assignment shall execute and deliver to the Administrative Agent an Assignment and Assumption, together with a processing and recordation fee of $3,500; and 
  
 (4) the assignee, if it is not already a Lender, shall deliver to the Administrative Agent an Administrative
Questionnaire. 
  
 For purposes of this Section 9.04(b):

  
 “Approved Fund” means
(a) a CLO and (b) with respect to any Lender that is a fund which invests in bank loans and similar extensions of credit, any other fund that invests in bank loans and similar extensions of credit and is managed or advised by the same
investment advisor as such Lender or by an Affiliate of such investment advisor. 
  
 “CLO” means any entity (whether a corporation, partnership, trust or otherwise) that is engaged in making, purchasing,
holding or otherwise investing in bank loans and similar extensions of credit in the ordinary course and is administered or managed by a Lender or an Affiliate of such Lender. 
  
 (iii) Subject to acceptance and recording thereof pursuant to paragraph (b)(iv) of this Section 9.04, from and after
the effective date specified in each Assignment and Assumption the assignee thereunder shall be a party hereto and, to the extent of the interest assigned by such Assignment and Assumption, have the rights and obligations of a Lender under this
Agreement, and the assigning Lender thereunder shall, to the extent of the interest assigned by such Assignment and Assumption, be released from its obligations under this Agreement (and, in the case of an Assignment and Assumption covering all the
assigning Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party hereto but shall continue to be entitled to the benefits of Sections 2.15, 2.16, 2.17 and 9.03). Any assignment or transfer by a Lender of
rights or obligations under this Agreement that does not comply with this Section 9.04 shall be treated for purposes of this Agreement as a sale by such Lender of a participation in such rights and obligations in accordance with paragraph
(c) of this Section 9.04. 
  
 (iv) The Administrative
Agent, acting for this purpose as an agent of the Borrower, shall maintain at one of its offices a copy of each Assignment and Assumption delivered to it and a register for the recordation of the names and addresses of the Lenders, and the
Commitment of, and principal amount of the Loans and LC Disbursements owing to, each Lender pursuant to the terms hereof from time to time (the “Register”). The entries in the Register shall be conclusive, and the Borrower, the
Administrative Agent, the Issuing Banks and the Lenders may treat each Person whose name is recorded in the Register pursuant to the terms hereof as a Lender hereunder for all purposes of this Agreement, notwithstanding notice to the contrary. The
Register shall be available for inspection by the Borrower, the Issuing Banks and any Lender, at any reasonable time and from time to time upon reasonable prior notice. 
  
 (v) Upon its receipt of a duly completed Assignment and Assumption executed by an assigning Lender and an assignee, the
assignee’s completed Administrative Questionnaire (unless the assignee shall already be a Lender hereunder), the processing and recordation fee referred to in paragraph (b) of this Section 9.04 and any written consent to such
assignment required by paragraph (b) of this Section 9.04, the Administrative Agent shall accept such Assignment and Assumption and record the information contained therein in the Register. No assignment shall be effective for purposes of
this Agreement unless it has been recorded in the Register as provided in this paragraph. 
  

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 (c) (i) Any Lender may, without the consent of the Borrower, the Administrative Agent, the Issuing Banks
or the Swingline Lender, sell participations to one or more banks or other entities (a “Participant”) in all or a portion of such Lender’s rights and obligations under this Agreement (including all or a portion of its
Commitment and the Loans owing to it), provided that (A) such Lender’s obligations under this Agreement shall remain unchanged, (B) such Lender shall remain solely responsible to the other parties hereto for the performance of
such obligations and (C) the Borrower, the Administrative Agent, the Issuing Banks and the other Lenders shall continue to deal solely and directly with such Lender in connection with such Lender’s rights and obligations under this
Agreement. Any agreement or instrument pursuant to which a Lender sells such a participation shall provide that such Lender shall retain the sole right to enforce this Agreement and to approve any amendment, modification or waiver of any provision
of this Agreement, provided that such agreement or instrument may provide that such Lender will not, without the consent of the Participant, agree to any amendment, modification or waiver described in the first proviso to Section 9.02(b)
that affects such Participant. Subject to paragraph (c)(ii) of this Section 9.04, the Borrower agrees that each Participant shall be entitled to the benefits of Sections 2.15, 2.16 and 2.17 to the same extent as if it were a Lender and had
acquired its interest by assignment pursuant to paragraph (b) of this Section 9.04. To the extent permitted by law, each Participant also shall be entitled to the benefits of Section 9.08 as though it were a Lender, provided
such Participant agrees to be subject to Section 2.18(c) as though it were a Lender. 
  
 (ii) A Participant shall not be entitled to receive any greater payment under Section 2.15 or 2.17 than the applicable Lender would have been entitled to receive with respect to the participation sold to such
Participant, unless the sale of the participation to such Participant is made with the Borrower’s prior written consent. A Participant that would be a Foreign Lender if it were a Lender shall not be entitled to the benefits of Section 2.17
unless the Borrower is notified of the participation sold to such Participant and such Participant agrees, for the benefit of the Borrower, to comply with Section 2.17(e) as though it were a Lender. 
  
 (iii) Any Lender may at any time pledge, assign or grant a security interest
in all or any portion of its rights under this Agreement to secure obligations of such Lender, including any pledge, assignment or grant to secure obligations to a Federal Reserve Bank, and this Section 9.04 shall not apply to any such pledge,
assignment or grant of a security interest, provided that no such pledge, assignment or grant of a security interest shall release a Lender from any of its obligations hereunder or substitute any such pledge or assignee for such Lender as a
party hereto. 
  
 SECTION 9.05. Survival. All covenants,
agreements, representations and warranties made by the Loan Parties in the Loan Documents and in the certificates or other instruments delivered in connection with or pursuant to this Agreement or any other Loan Document shall have independent
significance and be considered to have been relied upon by the other parties hereto and shall survive the execution and delivery of the Loan Documents and the making of any Loans and issuance of any Letters of Credit, regardless of any investigation
made by any such other party or on its behalf and notwithstanding that the Administrative Agent, the Issuing Bank or any Lender may have had notice or knowledge of any Default or incorrect representation or warranty at the time any credit is
extended hereunder, and shall continue in full force and effect as long as the principal of or any accrued interest on any Loan or any fee or any other amount payable under this Agreement is outstanding and unpaid or any Letter of Credit is
outstanding and so long as the Commitments have not expired or terminated. The provisions of Sections 2.15, 2.16, 2.17 and 9.03 and Article VIII shall survive and remain in full force and effect regardless of the consummation of the transactions
contemplated hereby, the repayment of the Loans, the expiration or termination of the Letters of Credit and the Commitments or the termination of this Agreement or any provision hereof. 
  

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 SECTION 9.06. Counterparts; Integration; Effectiveness. This Agreement may be executed in
counterparts (and by different parties hereto on different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract. This Agreement, the other Loan Documents and any separate
letter agreements with respect to fees payable to the Administrative Agent constitute the entire contract among the parties relating to the subject matter hereof and supersede any and all previous agreements and understandings, oral or written,
relating to the subject matter hereof. Except as provided in Section 4.01, this Agreement shall become effective when it shall have been executed by the Administrative Agent and when the Administrative Agent shall have received counterparts
hereof which, when taken together, bear the signatures of each of the other parties hereto, and thereafter shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns. Delivery of an executed
counterpart of a signature page of this Agreement by telecopy shall be effective as delivery of a manually executed counterpart of this Agreement. 
  
 SECTION 9.07. Severability. Any provision of this Agreement held to be invalid, illegal or unenforceable in any jurisdiction shall, as to such
jurisdiction, be ineffective to the extent of such invalidity, illegality or unenforceability without affecting the validity, legality and enforceability of the remaining provisions hereof; and the invalidity of a particular provision in a
particular jurisdiction shall not invalidate such provision in any other jurisdiction. 
  
 SECTION 9.08. Right of Setoff. If an Event of Default shall have occurred and be continuing, each Lender and each of its Affiliates is hereby authorized at any time and from time to time, to the fullest extent
permitted by law, to set off and apply any and all deposits (general or special, time or demand, provisional or final) at any time held and other obligations at any time owing by such Lender or Affiliate to or for the credit or the account of the
Borrower against any of and all the obligations of the Borrower now or hereafter existing under this Agreement held by such Lender, irrespective of whether or not such Lender shall have made any demand under this Agreement and although such
obligations may be unmatured. The applicable Lender shall notify the Borrower and the Administrative Agent of such setoff or application, provided that any failure to give or any delay in giving such notice shall not affect the validity of
any such setoff or application under this Section 9.08. The rights of each Lender under this Section 9.08 are in addition to other rights and remedies (including other rights of setoff) which such Lender may have. 
  
 SECTION 9.09. Governing Law; Jurisdiction; Consent to Service of
Process. 
  
 (a) This Agreement shall be construed in
accordance with and governed by the law of the State of New York. 
  
 (b) Each of Holdings and the Borrower hereby irrevocably and unconditionally submits, for itself and its property, to the nonexclusive jurisdiction of the Supreme Court of the State of New York sitting in New York County and of the
United States District Court of the Southern District of New York, and any appellate court from any thereof, in any action or proceeding arising out of or relating to any Loan Document, or for recognition or enforcement of any judgment, and each of
the parties hereto hereby irrevocably and unconditionally agrees that all claims in respect of any such action or proceeding may be heard and determined in such New York State or, to the extent permitted by law, in such Federal court. Each of the
parties hereto agrees that a final judgment in any such action or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law. Nothing in this Agreement or any other Loan
Document shall affect any right that the Administrative Agent, the 
  

 -89- 

 Issuing Bank or any Lender may otherwise have to bring any action or proceeding relating to this Agreement or any
other Loan Document against Holdings, the Borrower or their respective properties in the courts of any jurisdiction. 
  
 (c) Each of Holdings and the Borrower hereby irrevocably and unconditionally waives, to the fullest extent it may legally and effectively do so, any
objection that it may now or hereafter have to the laying of venue of any suit, action or proceeding arising out of or relating to this Agreement or any other Loan Document in any court referred to in paragraph (b) of this Section 9.09.
Each of the parties hereto hereby irrevocably waives, to the fullest extent permitted by law, the defense of an inconvenient forum to the maintenance of such action or proceeding in any such court. 
  
 (d) Each party to this Agreement irrevocably consents to service of process
in the manner provided for notices in Section 9.01. Nothing in this Agreement or any other Loan Document will affect the right of any party to this Agreement to serve process in any other manner permitted by law. 
  
 SECTION 9.10. WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY WAIVES,
TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT, ANY OTHER LOAN DOCUMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY
(WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY). EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF
LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 9.10.

  
 SECTION 9.11. Headings. Article and Section headings
and the Table of Contents used herein are for convenience of reference only, are not part of this Agreement and shall not affect the construction of, or be taken into consideration in interpreting, this Agreement. 
  
 SECTION 9.12. Confidentiality. Each of the Administrative Agent, the
Issuing Banks and the Lenders agrees to maintain the confidentiality of the Information (as defined below), except that Information may be disclosed (a) to its and its Affiliates’ directors, trustees, officers, employees and agents,
including accountants, legal counsel and other advisors (it being understood that the Persons to whom such disclosure is made will be informed of the confidential nature of such Information and instructed to keep such Information confidential),
(b) to the extent requested by any regulatory authority or self-regulatory authority, (c) to the extent required by applicable laws or regulations or by any subpoena or similar legal process, (d) to any other party to this Agreement,
(e) in connection with the exercise of any remedies hereunder or any suit, action or proceeding relating to this Agreement or any other Loan Document or the enforcement of rights hereunder or thereunder, (f) subject to an agreement
containing provisions substantially the same as those of this Section 9.12, to (i) any assignee or pledgee of or Participant in, or any prospective assignee or pledgee of or Participant in, any of its rights or obligations under this
Agreement or (ii) any actual or prospective counterparty (or its advisors) to any swap or derivative transaction relating to the Borrower and its obligations, (g) with the consent of the Borrower or (h) to the extent such Information
(i) becomes publicly available other than as a result of a breach of this Section 9.12 or (ii) becomes available to the Administrative Agent, any Issuing Bank or any Lender on a nonconfidential basis from a source other than Holdings
or the Borrower, provided that such source is not actually known by such disclosing party to be bound by an agreement containing provisions substantially the 
  

 -90- 

 same as those contained in this Section 9.12. For the purposes of this Section 9.12, the term
“Information” means all information received from Holdings or the Borrower relating to Holdings or the Borrower or its business, other than any such information that is available to the Administrative Agent, any Issuing Bank or any
Lender on a nonconfidential basis prior to disclosure by Holdings or the Borrower, provided that, in the case of information received from Holdings, the Borrower or any Subsidiary after the date hereof, such information is clearly identified
at the time of delivery as confidential. Any Person required to maintain the confidentiality of Information as provided in this Section 9.12 shall be considered to have complied with its obligation to do so if such Person has exercised the same
degree of care to maintain the confidentiality of such Information as such Person would accord to its own confidential information. 
  
 SECTION 9.13. Interest Rate Limitation. Notwithstanding anything herein to the contrary, if at any time the interest rate applicable to any Loan,
together with all fees, charges and other amounts that are treated as interest on such Loan under applicable law (collectively, the “Charges”), shall exceed the maximum lawful rate (the “Maximum Rate”) that may be
contracted for, charged, taken, received or reserved by the Lender holding such Loan in accordance with applicable law, the rate of interest payable in respect of such Loan hereunder, together with all Charges payable in respect thereof, shall be
limited to the Maximum Rate and, to the extent lawful, the interest and Charges that would have been payable in respect of such Loan but were not payable as a result of the operation of this Section 9.13 shall be cumulated and the interest and
Charges payable to such Lender in respect of other Loans or periods shall be increased (but not above the Maximum Rate therefor) until such cumulated amount, together with interest thereon at the Federal Funds Effective Rate to the date of
repayment, shall have been received by such Lender. 
  
 SECTION
9.14. USA Patriot Act. Each Lender hereby notifies the Borrower that pursuant to the requirements of the USA Patriot Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001)) (the “Patriot Act”), it is
required to obtain, verify and record information that identifies the Borrower, which information includes the name and address of the Borrower and other information that will allow such Lender to identify the Borrower in accordance with the Patriot
Act. 
  
 SECTION 9.15. Release of Collateral. Upon any sale
or other transfer by any Loan Party of any Collateral that is permitted under this Agreement, or upon the effectiveness of any written consent to the release of the security interest granted hereby in any Collateral pursuant to Section 9.02 of
this Agreement, the security interest in such Collateral shall be automatically released. 
  

 -91- 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed by their respective
authorized officers as of the day and year first above written. 
  

			
	AMERIPATH, INC.,
	    as the Borrower
		
	By:	 	 /s/ David L. Redmond

	Name:	 	David L. Redmond
	Title:	 	Executive Vice President
	
	AMERIPATH HOLDINGS, INC.
		
	By:	 	 /s/ David L. Redmond

	Name:	 	David L. Redmond
	Title:	 	Executive Vice President
	
	 WACHOVIA BANK, NATIONAL ASSOCIATION,
     individually and as Administrative Agent

		
	By:	 	 /s/ Tye Nordberg

	Name:	 	Tye Nordberg
	Title:	 	Vice President
	
	 CITIGROUP GLOBAL MARKETS INC.,
     individually and as Syndication Agent

		
	By:	 	 /s/ Asghar Ali

	Name:	 	Asghar Ali
	Title:	 	Director
	
	 DEUTSCHE BANK SECURITIES INC.,
     as Co-Documentation Agent

		
	By:	 	 /s/ Michael Walsh

	Name:	 	Michael Walsh
	Title:	 	Managing Director
		
	By:	 	 /s/ John C. Cushman

	Name:	 	John C. Cushman
	Title:	 	Director

  
 [Credit
Agreement] 

			
	DEUTSCHE BANK TRUST COMPANY AMERICAS,
	    as a Lender
		
	By:	 	 /s/ Stephen Cayer

	Name:	 	Stephen Cayer
	Title:	 	Director
		
	By:	 	 /s/ David Mayhew

	Name:	 	David Mayhew
	Title:	 	Managing Director
	
	 UBS SECURITIES LLC,
     individually and as Co-Documentation Agent

		
	By:	 	 /s/ William A. Roche

	Name:	 	William A. Roche
	Title:	 	Executive Director
		
	By:	 	 /s/ Barbara S. Wang

	Name:	 	Barbara S. Wang
	Title:	 	Director and Counsel
	 	 	Region Americas Legal

  
 [Credit
Agreement]Guarantee and Collateral Agreement, dated as of January 31, 2006

 Exhibit 10.2 
  
 Execution Copy 
  

  
 GUARANTEE AND COLLATERAL AGREEMENT

  
 dated as of 
  
 January 31, 2006 
  
 among 
  
 AMERIPATH HOLDINGS, INC., 
  
 AMERIPATH, INC., 
  
 THE SUBSIDIARIES OF AMERIPATH, INC. 
 IDENTIFIED HEREIN 
  
 and 
  
 WACHOVIA BANK, NATIONAL ASSOCIATION 
  

as Collateral Agent 
  

 TABLE OF CONTENTS 
  

					
	 	 	 	  	Page

	ARTICLE I
	
	DEFINITIONS
			
	Section 1.01.	 	Credit Agreement	  	1
	Section 1.02.	 	Other Defined Terms	  	1
	
	ARTICLE II
	
	GUARANTEE
			
	Section 2.01.	 	Guarantee	  	6
	Section 2.02.	 	Guarantee of Payment	  	6
	Section 2.03.	 	No Limitations	  	6
	Section 2.04.	 	Reinstatement	  	7
	Section 2.05.	 	Agreement To Pay; Subrogation	  	7
	Section 2.06.	 	Information	  	7
	
	ARTICLE III
	
	PLEDGE OF SECURITIES
			
	Section 3.01.	 	Pledge	  	8
	Section 3.02.	 	Delivery of the Pledged Collateral	  	8
	Section 3.03.	 	Representations, Warranties and Covenants	  	9
	Section 3.04.	 	Certification of Limited Liability Company and Limited Partnership Interests	  	10
	Section 3.05.	 	Registration in Nominee Name; Denominations	  	10
	Section 3.06.	 	Voting Rights; Dividends and Interest	  	11
	
	ARTICLE IV
	
	SECURITY INTERESTS IN PERSONAL PROPERTY
			
	Section 4.01.	 	Security Interest	  	12
	Section 4.02.	 	Representations and Warranties	  	14
	Section 4.03.	 	Covenants	  	16
	Section 4.04.	 	Other Actions	  	19
	Section 4.05.	 	Covenants Regarding Patent, Trademark and Copyright Collateral	  	21
	Section 4.06.	 	Cash Management System, Securities Accounts and Commodity Accounts	  	22

  

 -i- 

					
	 	 	 	  	Page

	ARTICLE V
	
	REMEDIES
			
	Section 5.01.	 	Remedies upon Default	  	24
	Section 5.02.	 	Application of Proceeds	  	25
	Section 5.03.	 	Grant of License To Use Intellectual Property	  	26
	Section 5.04.	 	Securities Act	  	26
	Section 5.05.	 	Medicare/Medicaid	  	27
	Section 5.06. .	 	The parties hereto understand and agree that the exercise of remedies hereunder with respect to receivables from Medicare or Medicaid may be subject to applicable federal laws.	  	27
	
	ARTICLE VI
	
	INDEMNITY, SUBROGATION AND SUBORDINATION
			
	Section 6.01.	 	Indemnity and Subrogation	  	27
	Section 6.02.	 	Contribution and Subrogation	  	27
	Section 6.03.	 	Subordination	  	27
	
	ARTICLE VII
	
	MISCELLANEOUS
			
	Section 7.01.	 	Notices	  	28
	Section 7.02.	 	Waivers; Amendment	  	28
	Section 7.03.	 	Collateral Agent’s Fees and Expenses; Indemnification	  	28
	Section 7.04.	 	Successors and Assigns	  	29
	Section 7.05.	 	Survival of Agreement	  	29
	Section 7.06.	 	Counterparts; Effectiveness; Several Agreement	  	29
	Section 7.07.	 	Severability	  	30
	Section 7.08.	 	Right of Set-Off	  	30
	Section 7.09.	 	Governing Law; Jurisdiction; Consent to Service of Process	  	30
	Section 7.10.	 	WAIVER OF JURY TRIAL	  	31
	Section 7.11.	 	Headings	  	31
	Section 7.12.	 	Security Interest Absolute	  	31
	Section 7.13.	 	Termination or Release	  	32
	Section 7.14.	 	Additional Subsidiaries	  	32
	Section 7.15.	 	Collateral Agent Appointed Attorney-in-Fact	  	33
	Section 7.16.	 	Further Assurances	  	33

  

 -ii- 

			
	 Schedules
	  	 
		
	Schedule I	  	Subsidiary Loan Parties
	Schedule II	  	Pledged Stock; Debt Securities
	Schedule III	  	Intellectual Property
	Schedule IV	  	Commercial Tort Claims
	Schedule V	  	Deposit Accounts
	Schedule VI	  	Securities Accounts
		
	Exhibits	  	 
		
	Exhibit I	  	Form of Supplement
	Exhibit II	  	Form of Deposit Account Control Agreement
	Exhibit III	  	Form of Securities Account Control Agreement

  

 -iii- 

 GUARANTEE AND COLLATERAL AGREEMENT (this “Agreement”) dated as of January 31, 2006,
among AMERIPATH HOLDINGS, INC., a Delaware corporation, AMERIPATH, INC., a Delaware corporation, the Subsidiaries of AMERIPATH, INC. identified herein and WACHOVIA BANK, NATIONAL ASSOCIATION, as Collateral Agent. 
  
 Reference is made to the Credit Agreement dated as of January 31, 2006
(as amended, supplemented or otherwise modified from time to time, the “Credit Agreement”), among Ameripath, Inc. (the “Borrower”), Ameripath Holdings, Inc., the Lenders party thereto, Wachovia Bank, National
Association, as Administrative Agent, Citigroup Global Markets Inc., as Syndication Agent, and Deutsche Bank Securities Inc. and UBS Securities LLC, as Co-Documentation Agents. The Lenders have agreed to extend credit to the Borrower subject to the
terms and conditions set forth in the Credit Agreement. The obligations of the Lenders to extend such credit are conditioned upon, among other things, the execution and delivery of this Agreement. Holdings and the Subsidiary Loan Parties are
affiliates of the Borrower, will derive substantial benefits from the extension of credit to the Borrower pursuant to the Credit Agreement and are willing to execute and deliver this Agreement in order to induce the Lenders to extend such credit.
Accordingly, the parties hereto agree as follows: 
  
 ARTICLE I

  
 Definitions 
  
 Section 1.01. Credit Agreement. (a) Capitalized terms used in this
Agreement and not otherwise defined in this Agreement have the meanings specified in the Credit Agreement. All terms defined in the New York UCC (as defined in this Agreement) and not defined in this Agreement have the meanings specified therein.

  
 (b) The rules of construction specified in Section 1.03
of the Credit Agreement also apply to this Agreement, mutatis mutandis. 
  
 Section 1.02. Other Defined Terms. As used in this Agreement, the following terms have the meanings specified below: 
  
 “Account Debtor” means any Person who is or who may become obligated to any Grantor under, with respect to or on account
of an Account. 
  
 “Article 9
Collateral” has the meaning assigned to such term in Section 4.01. 
  
 “Collateral” means Article 9 Collateral and Pledged Collateral. 
  
 “Commodity Account Control Agreement” means
a control agreement in a form that is reasonably satisfactory to the Collateral Agent and the Borrower establishing the Collateral Agent’s Control with respect to any Commodity Account. 
  

 -1- 

 “Contributing Party” shall have the meaning assigned to such term in
Section 6.02. 
  
 “Control”
shall mean (i) in the case of each Deposit Account, “control”, as such term is defined in Section 9-104 of the New York UCC, (ii) in the case of any Securities Account, “control” as such term is defined in
Section 8-106 of the New York UCC, and (iii) in the case of any Commodity Account, “control”, as such term is defined in section 9-106 of the New York UCC. 
  
 “Control Agreements” means, collectively, the Deposit Account Control Agreements, the
Securities Account Control Agreements and the Commodity Account Control Agreements. 
  
 “Copyright License” means any written agreement, now or hereafter in effect, granting any right to any third party under
any copyright now or hereafter owned by any Grantor or that such Grantor otherwise has the right to license, or granting any right to any Grantor under any copyright now or hereafter owned by any third party, and all rights of any Grantor under any
such agreement. 
  
 “Copyrights”
means all of the following now owned or hereafter acquired by any Grantor: (a) all copyright rights in any work subject to the copyright laws of the United States or any other country, whether as author, assignee, transferee or otherwise and
(b) all registrations and applications for registration of any such copyright in the United States or any other country, including registrations, recordings, supplemental registrations and pending applications for registration in the United
States Copyright Office, including those listed on Schedule III. 
  
 “Credit Agreement” has the meaning assigned to such term in the preliminary statement in this Agreement. 
  
 “Deposit Account Control Agreement” means an agreement substantially in the form annexed hereto as Exhibit II or
such other form as is reasonably satisfactory to the Collateral Agent and the Borrower establishing Collateral Agent’s Control with respect to any Deposit Account. 
  
 “Deposit Accounts” means, collectively, with respect to each Grantor, (i) all
“deposit accounts” as such term is defined in the New York UCC and in any event shall include the LC Account and all accounts and sub-accounts relating to any of the foregoing accounts and (ii) all cash, funds, checks, notes and
instruments from time to time on deposit in any of the accounts or sub-accounts described in clause (i) of this definition. 
  
 “Excluded Accounts” shall have the meaning assigned to such term in Section 4.06(c). 
  
 “Federal Securities Laws” has the meaning
assigned to such term in Section 5.04. 
  

 -2- 

 “General Intangibles” means all “General Intangibles” of any
Grantor as defined in Section 9-102(42) of the New York UCC. 
  
 “Grantors” means Holdings, the Borrower and the Subsidiary Loan Parties. 
  
 “Guarantors” means Holdings and the Subsidiary Loan Parties. 
  
 “Instrument” has the meaning specified in
Article 9 of the New York UCC. 
  
 “Intellectual Property” means all intellectual and similar property of any Grantor of every kind and nature now owned or hereafter acquired by any Grantor, including inventions, designs, Patents, Copyrights, Licenses,
Trademarks, trade secrets, confidential or proprietary technical and business information, know-how or other data or information, software and databases and all embodiments or fixations thereof and related documentation, registrations and
franchises, and all additions, improvements and accessions to, and books and records describing or used in connection with, any of the foregoing. 
  
 “Investment Property” means a security, whether certificated or uncertificated, Security Entitlement, Securities Account,
Commodity Contract or Commodity Account. 
  
 “LC Account” means any account established and maintained in accordance with the provisions of Section 2.05(j) of the Credit Agreement and all property from time to time on deposit in such LC Account.

  
 “License” means any Patent
License, Trademark License, Copyright License or other license or sublicense agreement to which any Grantor is a party, including those listed on Schedule III. 
  
 “Loan Document Obligations” means (a) the due and punctual payment by the Borrower of
(i) the principal of and interest (including interest accruing during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable in such proceeding) on the Loans, when and as
due, whether at maturity, by acceleration, upon one or more dates set for prepayment or otherwise, (ii) each payment required to be made by the Borrower under the Credit Agreement in respect of any Letter of Credit, when and as due, including
payments in respect of reimbursement of disbursements, interest thereon (including interest accruing during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable in such
proceeding) and obligations to provide cash collateral, and (iii) all other monetary obligations of the Borrower to any of the Secured Parties under the Credit Agreement and each other Loan Document, including obligations to pay fees, expense
reimbursement obligations and indemnification obligations, whether primary, secondary, direct, contingent, fixed or otherwise (including monetary obligations incurred during the pendency of any bankruptcy, insolvency, receivership or other similar
proceeding, regardless of whether allowed or allowable in such proceeding), (b) the due and punctual performance of all other obligations of the Borrower under or pursuant to the Credit Agreement and each other Loan Document, and (c) the
due and punctual payment and performance in full of all the obligations of each other Loan Party under or pursuant to this Agreement and each other Loan Document. 
  

 -3- 

 “Medicare” shall mean that government-sponsored entitlement program
under Title XVIII of the Social Security Act that provides for a health insurance system for eligible elderly and disabled individuals (Social Security Act of 1965, Title XVIII, P.L. 89-87 as amended; 42 U.S.C. § 1395 et seq.).

  
 “Medicaid” shall mean that
means-tested entitlement program under Title XIX of the Social Security Act that provides federal grants to states for medical assistance based on specific eligibility criteria (Social Security Act of 1965, Title XIX, P.L. 89-87, as amended; 42
U.S.C. § 1396 et seq.). 
  
 “Medicare Deposit Account” means any Deposit Account into which receivables under Medicare and/or Medicaid are paid to any Grantor. 
  

“New York UCC” means the Uniform Commercial Code as from time to time in effect in the State of New York. 

 
 “Non-Excluded Accounts” has the meaning
assigned to such term in Section 4.06(c). 
  
 “Obligations” means (a) Loan Document Obligations and (b) the due and punctual payment and performance in full of all obligations of each Loan Party under each Swap Agreement that (i) is in effect on the
Effective Date with a counterparty that is a Lender or an Affiliate of a Lender as of the Effective Date or (ii) is entered into after the Effective Date with any counterparty that is a Lender or an Affiliate of a Lender at the time such Swap
Agreement is entered into. 
  
 “Patent
License” means any written agreement, now or hereafter in effect, granting to any third party any right to make, use or sell any invention on which a patent, now or hereafter owned by any Grantor or that any Grantor otherwise has the right
to license, is in existence, or granting to any Grantor any right to make, use or sell any invention on which a patent, now or hereafter owned by any third party, is in existence, and all rights of any Grantor under any such agreement. 

 
 “Patents” means all of the following now
owned or hereafter acquired by any Grantor: (a) all letters patent of the United States or the equivalent thereof in any other country, all registrations and recordings thereof, and all applications for letters patent of the United States or
the equivalent thereof in any other country, including registrations, recordings and pending applications in the United States Patent and Trademark Office or any similar offices in any other country, including those listed on Schedule III, and
(b) all reissues, continuations, divisions, continuations-in-part, renewals or extensions thereof, and the inventions disclosed or claimed therein, including the right to make, use and/or sell the inventions disclosed or claimed therein.

  
 “Pledged Collateral” has the
meaning assigned to such term in Section 3.01. 
  

 -4- 

 “Pledged Debt Securities” has the meaning assigned to such term
in Section 3.01. 
  
 “Pledged
Securities” means any promissory notes, stock certificates or other securities now or hereafter included in the Pledged Collateral, including all certificates, instruments or other documents representing or evidencing any Pledged
Collateral. 
  
 “Pledged Stock”
has the meaning assigned to such term in Section 3.01. 
  
 “Proceeds” has the meaning specified in Section 9-102 of the New York UCC. 
  
 “Secured Parties” means (a) the Lenders, (b) the Collateral Agent, (c) the Administrative Agent,
(d) the Issuing Bank, (e) each counterparty that is a Lender or an Affiliate of a Lender to any Swap Agreement with a Loan Party the obligations under which constitute Obligations and (f) the successors and assigns of each of the
foregoing. 
  
 “Securities Account
Control Agreement” means an agreement substantially in the form annexed hereto as Exhibit III or an agreement in a form that is reasonably satisfactory to the Collateral Agent and the Borrower establishing the Collateral Agent’s
Control with respect to any Securities Account. 
  
 “Security Interest” has the meaning assigned to such term in Section 4.01. 
  
 “Subsidiary Loan Parties” means (a) the Subsidiaries identified on Schedule I and (b) each other
Subsidiary that becomes a party to this Agreement as a Subsidiary Loan Party after the Effective Date. 
  
 “Trademark License” means any written agreement, now or hereafter in effect, granting to any third party any right to use
any trademark now or hereafter owned by any Grantor or that any Grantor otherwise has the right to license, or granting to any Grantor any right to use any trademark now or hereafter owned by any third party, and all rights of any Grantor under any
such agreement. 
  
 “Trademarks”
means all of the following now owned or hereafter acquired by any Grantor: (a) all trademarks, service marks, trade names, domain names, corporate names, company names, business names, fictitious business names, trade styles, trade dress,
logos, other source or business identifiers, designs and general intangibles of like nature, now existing or hereafter adopted or acquired, all registrations and recordings thereof, and all registration and recording applications filed in connection
therewith, including registrations and registration applications in the United States Patent and Trademark Office or any similar offices in any State of the United States or any other country or any political subdivision thereof, and all extensions
or renewals thereof, including those listed on Schedule III, (b) all goodwill associated therewith or symbolized thereby and (c) all other assets, rights and interests that uniquely reflect or embody such goodwill. 
  

 -5- 

 ARTICLE II 
  
 Guarantee 
  
 Section 2.01. Guarantee. Each Guarantor unconditionally guarantees, jointly with the other Guarantors and severally, as a primary obligor and not
merely as a surety, the due and punctual payment and performance in full of the Obligations. Each Guarantor further agrees that the Obligations may be extended or renewed, in whole or in part, or amended or modified, without notice to or further
assent from it, and that it will remain bound upon its guarantee notwithstanding any extension, renewal, amendment or modification of the Obligations. Each Guarantor waives presentment to, demand of payment from and protest to the Borrower or any
other Loan Party of the Obligations and also waives notice of acceptance of its guarantee and notice of protest for nonpayment. 
  
 Section 2.02. Guarantee of Payment. Each Guarantor further agrees that its guarantee hereunder constitutes a guarantee of payment when due and not
of collection, and waives any right to require that any resort be had by the Collateral Agent or any other Secured Party to any security held for the payment of the Obligations or to any balance of any Deposit Account or credit on the books of the
Collateral Agent or any other Secured Party in favor of the Borrower or any other Person. 
  
 Section 2.03. No Limitations. (a) Except for termination of a Guarantor’s obligations hereunder as expressly provided in Section 7.13, the obligations of each Guarantor hereunder shall not be
subject to any reduction, limitation, impairment or termination for any reason, including any claim of waiver, release, surrender, alteration or compromise, and shall not be subject to any defense or set-off, counterclaim, recoupment or termination
whatsoever by reason of the invalidity, illegality or unenforceability of the Obligations or otherwise. Without limiting the generality of the foregoing, the obligations of each Guarantor hereunder shall not be discharged or impaired or otherwise
affected by (i) the failure of the Collateral Agent or any other Secured Party to assert any claim or demand or to enforce any right or remedy under the provisions of any Loan Document or otherwise; (ii) any rescission, waiver, amendment
or modification of, or any release from any of the terms or provisions of, any Loan Document or any other agreement, including with respect to any other Guarantor under this Agreement; (iii) the release of, impairment of or failure to perfect
any Lien held by the Collateral Agent or any other Secured Party for the payment and performance of the Obligations or any of them; (iv) any default, failure or delay, wilful or otherwise, in the performance of the Obligations; or (v) any
other act or omission that may or might in any manner or to any extent vary the risk of any Guarantor or otherwise operate as a discharge of any Guarantor as a matter of law or equity (other than the indefeasible payment in full in cash of the
Obligations). Each Guarantor expressly authorizes the Collateral Agent (i) to take and hold security for the payment and performance of the Obligations, (ii) to exchange, waive or release any or all such security (with or without
consideration), (iii) to enforce or apply such security and direct the order and manner of any sale thereof in its sole discretion or (iv) to release or substitute any one or more other guarantors or obligors upon or in respect of the
Obligations, all without affecting the obligations of any Guarantor hereunder. 
  

 -6- 

 (b) To the fullest extent permitted by applicable law, each Guarantor waives any defense based on or
arising out of any defense of the Borrower or any other Loan Party or the unenforceability of the Obligations or any part thereof from any cause, or the cessation from any cause of the liability of the Borrower or any other Loan Party, other than
the indefeasible payment in full in cash of all the Obligations. The Collateral Agent and the other Secured Parties may, at their election, foreclose on any security held by one or more of them by one or more judicial or nonjudicial sales, accept an
assignment of any such security in lieu of foreclosure, compromise or adjust any part of the Obligations, make any other accommodation with the Borrower or any other Loan Party or exercise any other right or remedy available to them against the
Borrower or any other Loan Party, without affecting or impairing in any way the liability of any Guarantor hereunder except to the extent the Obligations have been fully and indefeasibly paid in full in cash. To the fullest extent permitted by
applicable law, each Guarantor waives any defense arising out of any such election even though such election operates, pursuant to applicable law, to impair or to extinguish any right of reimbursement or subrogation or other right or remedy of such
Guarantor against the Borrower or any other Loan Party, as applicable, or any security. 
  
 Section 2.04. Reinstatement. Each of the Guarantors agrees that its guarantee hereunder shall continue to be effective or be reinstated, as applicable, if at any time payment, or any part thereof, of any
Obligation is rescinded or must otherwise be restored by the Collateral Agent or any other Secured Party upon the bankruptcy or reorganization of the Borrower, any other Loan Party or otherwise. 
  
 Section 2.05. Agreement To Pay; Subrogation. In furtherance of the
foregoing and not in limitation of any other right that the Collateral Agent or any other Secured Party has at law or in equity against any Guarantor by virtue hereof, upon the failure of the Borrower or any other Loan Party to pay any Obligation
when and as the same shall become due, whether at maturity, by acceleration, after notice of prepayment or otherwise, each Guarantor hereby promises to and will forthwith pay, or cause to be paid, to the Collateral Agent for distribution to the
applicable Secured Parties in cash the amount of such unpaid Obligation. Upon payment by any Guarantor of any sums to the Collateral Agent as provided above, all rights of such Guarantor against the Borrower or any other Loan Party arising as a
result thereof by way of right of subrogation, contribution, reimbursement, indemnity or otherwise shall in all respects be subject to Article VI. 
  
 Section 2.06. Information. Each Guarantor assumes all responsibility for being and keeping itself informed of the Borrower’s and each other
Loan Party’s financial condition and assets and of all other circumstances bearing upon the risk of nonpayment of the Obligations and the nature, scope and extent of the risks that such Guarantor assumes and incurs hereunder and agrees that
none of the Collateral Agent or the other Secured Parties will have any duty to advise such Guarantor of information known to it or any of them regarding such circumstances or risks. 
  

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 ARTICLE III 
  
 Pledge of Securities 
  
 Section 3.01. Pledge. As security for the payment or performance, as applicable, in full of the Obligations, each Grantor hereby grants to the
Collateral Agent, its successors and assigns, for the ratable benefit of the Secured Parties, a security interest in, all of such Grantor’s right, title and interest in, to and under (a) the shares of capital stock and other Equity
Interests of the Borrower and each Subsidiary owned by it and listed on Schedule II and any other Equity Interests of a Subsidiary obtained in the future by such Grantor and the certificates representing all such Equity Interests (the
“Pledged Stock”), provided that the Pledged Stock shall not include more than 65% of the outstanding voting Equity Interests of any Foreign Subsidiary; (b)(i) the debt securities listed opposite the name of such Grantor
on Schedule II, (ii) any debt securities issued after the Effective Date to such Grantor by Holdings, the Borrower and each Subsidiary and (iii) the promissory notes and any other instruments evidencing such debt securities (the
“Pledged Debt Securities”); (c) all other property that may be delivered to and held by the Collateral Agent pursuant to the terms of this Section 3.01; (d) subject to Section 3.06, all payments of principal or
interest, dividends, cash, instruments and other property from time to time received, receivable or otherwise distributed in respect of, in exchange for or upon the conversion of, and all other Proceeds received in respect of, the securities
referred to in clauses (a), (b) and (c) above; (e) subject to Section 3.06, all rights and privileges of such Grantor with respect to the securities and other property referred to in clauses (a), (b), (c) and
(d) above; and (f) all Proceeds of any of the foregoing (the items referred to in clauses (a) through (f) above being collectively referred to as the “Pledged Collateral”). 
  
 TO HAVE AND TO HOLD the Pledged Collateral, together with all right, title,
interest, powers, privileges and preferences pertaining or incidental thereto, unto the Collateral Agent, its successors and assigns, for the ratable benefit of the Secured Parties, forever, subject, however, to the terms, covenants
and conditions hereinafter set forth. 
  
 Section 3.02.
Delivery of the Pledged Collateral. (a) Each Grantor represents and warrants that all certificates, agreements or instruments representing or evidencing the Pledged Collateral in existence on the date hereof have been delivered to the
Collateral Agent in suitable form for transfer by delivery or accompanied by duly executed instruments of transfer or assignment in blank. Each Grantor agrees promptly to deliver or cause to be delivered to the Collateral Agent any and all Pledged
Securities. 
  
 (b) Each Grantor will cause any Indebtedness for
borrowed money owed to such Grantor by any Person (other than a Loan Party) which is (A) in excess of $1,000,000 and (B) evidenced by a duly executed promissory note to be pledged and delivered to the Collateral Agent pursuant to the
terms hereof. 
  
 (c) Upon delivery to the Collateral Agent,
(i) any Pledged Securities shall be accompanied by undated stock powers duly executed in blank or other undated instruments of transfer reasonably satisfactory to the Collateral Agent and by such other instruments and documents as the
Collateral Agent may reasonably request and (ii) all other property comprising part of the Pledged Collateral shall be accompanied by proper instruments of assignment duly 
  

 -8- 

 executed by the applicable Grantor and such other instruments or documents as the Collateral Agent may reasonably
request. Each delivery of Pledged Securities shall be accompanied by a schedule describing such Pledged Securities, which schedule shall be attached hereto as a supplement to Schedule II and made a part hereof, provided that failure to
attach any such schedule hereto shall not affect the validity of such pledge of such Pledged Securities. Each schedule so delivered shall supplement any prior schedules so delivered. 
  
 Section 3.03. Representations, Warranties and Covenants. The Grantors jointly and severally represent, warrant and
covenant to and with the Collateral Agent, for the benefit of the Secured Parties, that: 
  
 (a) Schedule II correctly sets forth the percentage of the issued and outstanding shares (or units or other comparable measure) of each class of the Equity Interests of the issuer thereof represented by the
Pledged Stock and includes all Equity Interests, debt securities and promissory notes required to be pledged hereunder in order to satisfy the Collateral and Guarantee Requirement; 
  
 (b) the Pledged Stock and Pledged Debt Securities have been duly and validly authorized and issued by the issuers thereof
and (i) in the case of Pledged Stock, are fully paid and nonassessable and (ii) in the case of Pledged Debt Securities, are legal, valid and binding obligations of the issuers thereof; 
  
 (c) except for the security interests granted hereunder, each of the Grantors
(i) is and, subject to any transfers made in compliance with the Credit Agreement, will continue to be the direct owner, beneficially and of record, of the Pledged Securities indicated on Schedule II as owned by such Grantor, (ii) holds
the same free and clear of all Liens, other than Liens created by any Loan Document and Liens permitted by Section 6.02 of the Credit Agreement, (iii) will make no assignment, pledge, hypothecation or transfer of, or create or permit to
exist any security interest in or other Lien on, the Pledged Collateral, other than Liens created by any Loan Document, Liens permitted by Section 6.02 of the Credit Agreement and transfers made in compliance with the Credit Agreement and
(iv) will defend its title or interest thereto or therein against any and all Liens (other than Liens created by any Loan Document and Liens permitted by Section 6.02 of the Credit Agreement), however arising, of all Persons whomsoever;
provided that nothing in this Agreement shall prevent any Grantor from discontinuing the operation or maintenance of any of its assets or properties if such discontinuance is (x) in the good faith determination of its Board of Directors,
desirable in the conduct of its business and (y) permitted by the Credit Agreement; 
  
 (d) except for restrictions and limitations imposed by (i) the Loan Documents, (ii) securities laws generally or (iii) customary provisions in joint venture agreements relating to purchase options,
rights of first refusal, tag, drag, call or similar rights of a third party that owns Equity Interests in such joint venture, the Pledged Collateral is and will continue to be freely transferable and assignable, and none of the Pledged Collateral is
or will be subject to any option, right of first refusal, shareholders agreement, charter or by-law provision or contractual restriction of any nature that might prohibit, impair, delay or otherwise affect the pledge of such Pledged Collateral
hereunder, the sale or disposition thereof pursuant hereto or the exercise by the Collateral Agent of rights and remedies hereunder; 
  

 -9- 

 (e) each of the Grantors has the power and authority to pledge the Pledged Collateral pledged by it
hereunder in the manner hereby done or contemplated; 
  
 (f) no
consent or approval of any Governmental Authority, any securities exchange or any other Person was or is necessary to the validity of the pledge effected hereby (other than such as have been obtained and are in full force and effect); 
  
 (g) subject to clauses (c) and (d) of this Section 3.03, by
virtue of the execution and delivery by the Grantors of this Agreement, when any Pledged Securities are delivered to the Collateral Agent in accordance with this Agreement, the Collateral Agent will obtain, for the benefit of the Secured Parties, a
legal, valid and perfected lien upon and security interest in such Pledged Securities as security for the payment and performance of the Obligations; and 
  
 (h) the pledge effected hereby is effective to vest in the Collateral Agent, for the ratable benefit of the Secured Parties, the rights of the Collateral
Agent in the Pledged Collateral as set forth in this Agreement. 
  
 Section 3.04. Certification of Limited Liability Company and Limited Partnership Interests. (a) Each Grantor acknowledges and agrees that each interest in any limited liability company or limited partnership controlled by
any Grantor and acquired after the Effective Date and pledged hereunder that is represented by a certificate, shall be a “security” within the meaning of Article 8 of the New York UCC and shall be governed by Article 8 of the New
York UCC. 
  
 (b) Each Grantor further acknowledges and agrees
that (i) the interests in any limited liability company or limited partnership controlled by such Grantor and pledged hereunder that are not represented by a certificate are not “securities” within the meaning of Article 8 of the New
York UCC and (ii) such Grantor shall at no time elect to treat any such interest as a “security” within the meaning of Article 8 of the New York UCC or issue any certificate representing such interest, unless such Grantor
provides prompt written notification to the Collateral Agent of such election and promptly (but in no case later than 10 Business Days) pledges any such certificate to the Collateral Agent pursuant to the terms hereof; provided,
however, that this Section 3.04 shall not apply to any Equity Interests in limited liability companies or limited partnerships which may not be pledged, assigned or otherwise encumbered pursuant to applicable Federal, state or local
laws, rules or regulations related to the practice of medicine or the healthcare industry generally. 
  
 Section 3.05. Registration in Nominee Name; Denominations. The Collateral Agent, on behalf of the Secured Parties, shall have the right (in its
sole and absolute discretion) to hold the Pledged Securities in the name of the applicable Grantor, endorsed or assigned in blank or in favor of the Collateral Agent or, upon the occurrence and during the continuation of an Event of Default, in its
own name as pledge or the name of its nominee (as pledge or as sub-agent). Each Grantor will promptly give to the Collateral Agent copies of any notices or other communications received by it with respect to Pledged Securities registered in the name
of such Grantor. The Collateral Agent shall at all times upon the occurrence and during the continuation of an Event of Default have the right to exchange the certificates representing Pledged Securities for certificates of smaller or larger
denominations for any purpose consistent with this Agreement. 
  

 -10- 

 Section 3.06. Voting Rights; Dividends and Interest. (a) Unless and until an Event of Default shall have
occurred and be continuing and the Collateral Agent shall have notified the Grantors that their rights under this Section 3.06 are being suspended: 
  
 (i) Each Grantor shall be entitled to exercise any and all voting and other consensual rights and powers inuring to an owner of Pledged
Securities or any part thereof for any purpose consistent with the terms in this Agreement, the Credit Agreement and the other Loan Documents, provided that such rights and powers shall not be exercised in any manner that would reasonably be
expected to materially and adversely affect the rights inuring to a holder of any Pledged Securities or the rights and remedies of any of the Collateral Agent or the other Secured Parties under this Agreement or the Credit Agreement or any other
Loan Document or the ability of the Secured Parties to exercise the same. 
  
 (ii) The Collateral Agent shall execute and deliver to each Grantor, or cause to be executed and delivered to such Grantor, all such proxies, powers of attorney and other instruments as such Grantor may reasonably
request for the purpose of enabling such Grantor to exercise the voting and other consensual rights and powers it is entitled to exercise pursuant to subparagraph (i) above. 
  
 (iii) Each Grantor shall be entitled to receive and retain any and all dividends, interest, principal and
other distributions paid on or distributed in respect of the Pledged Securities to the extent and only to the extent that such dividends, interest, principal and other distributions are permitted by, and otherwise paid or distributed in accordance
with, the terms and conditions of the Credit Agreement, the other Loan Documents and applicable laws, provided that any noncash dividends, interest, principal or other distributions that would constitute Pledged Stock or Pledged Debt
Securities, whether resulting from a subdivision, combination or reclassification of the outstanding Equity Interests of the issuer of any Pledged Securities or received in exchange for Pledged Securities or any part thereof, or in redemption
thereof, or as a result of any merger, consolidation, acquisition or other exchange of assets to which such issuer may be a party or otherwise, shall be and become part of the Pledged Collateral, and, if received by any Grantor, shall not be
commingled by such Grantor with any of its other funds or property but shall be held separate and apart therefrom, shall be held in trust for the benefit of the Collateral Agent and the other Secured Parties and shall be forthwith delivered to the
Collateral Agent in the same form as so received (with any necessary endorsement as described in Section 3.03(c) or otherwise). 
  
 (b) Upon the occurrence and during the continuation of an Event of Default, after the Collateral Agent shall have notified (or shall be deemed to have
notified) the Grantors of the suspension of their rights under paragraph (a)(iii) of this Section 3.06, all rights of any Grantor to dividends, interest, principal or other distributions that such Grantor is authorized to receive pursuant
to paragraph (a)(iii) of this Section 3.06 shall cease, and all such rights shall thereupon become vested in the Collateral Agent, which shall have the sole and exclusive right 
  

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 and authority to receive and retain such dividends, interest, principal or other distributions. All dividends, interest,
principal or other distributions received by any Grantor contrary to the provisions of this Section 3.06 shall be held in trust for the benefit of the Collateral Agent and the other Secured Parties, shall be segregated from other property or
funds of such Grantor and shall be forthwith delivered to the Collateral Agent upon demand in the same form as so received (with any necessary endorsement). Any and all money and other property paid over to or received by the Collateral Agent
pursuant to the provisions of this paragraph (b) shall be retained by the Collateral Agent in an account to be established by the Collateral Agent upon receipt of such money or other property and shall be applied in accordance with the
provisions of Section 5.02. After all Events of Default have been cured or waived and the Borrower has delivered to the Collateral Agent a certificate to that effect, the Collateral Agent shall promptly repay to each Grantor (without interest)
all dividends, interest, principal or other distributions that such Grantor would otherwise be permitted to retain pursuant to the terms of paragraph (a)(iii) of this Section 3.06 and that remain in such account. 
  
 (c) Upon the occurrence and during the continuation of an Event of Default,
after the Collateral Agent shall have notified (or shall be deemed to have notified) the Grantors of the suspension of their rights under paragraph (a)(i) of this Section 3.06, all rights of any Grantor to exercise the voting and other
consensual rights and powers it is entitled to exercise pursuant to paragraph (a)(i) of this Section 3.06, and the obligations of the Collateral Agent under paragraph (a)(ii) of this Section 3.06, shall cease, and all such rights
shall thereupon become vested in the Collateral Agent, which shall have the sole and exclusive right and authority to exercise such voting and other consensual rights and powers, provided that, unless otherwise directed by the Required
Lenders, the Collateral Agent shall have the right from time to time following and during the continuation of an Event of Default to permit the Grantors to exercise such rights. After all Events of Default have been cured or waived, the Grantors
shall have the right to exercise the voting and consensual rights and powers that they would otherwise be entitled to exercise pursuant to the terms of paragraph (a)(i) above. 
  
 (d) Any notice given by the Collateral Agent to the Grantors suspending their rights under paragraph (a) of this
Section 3.06 (i) may be given by telephone if promptly confirmed in writing, (ii) may be given to one or more of the Grantors at the same or different times and (iii) may suspend the rights of the Grantors under paragraph (a)(i)
or paragraph (a)(iii) of this Section 3.06 in part without suspending all such rights (as specified by the Collateral Agent in its sole and absolute discretion) and without waiving or otherwise affecting the Collateral Agent’s rights to
give additional notices from time to time suspending other rights so long as an Event of Default has occurred and is continuing. 
  
 ARTICLE IV 
  
 Security Interests in Personal Property 
  
 Section 4.01. Security Interest. (a) As security for the payment or performance, as applicable, in full of the Obligations, each Grantor hereby grants to the Collateral Agent, its successors and assigns,
for the ratable benefit of the Secured Parties, a security interest (the “Security Interest”) in all right, title or interest in or to any and all of the following assets and 
  

 -12- 

 properties now owned or at any time hereafter acquired by such Grantor or in which such Grantor now has or at any time in
the future may acquire any right, title or interest (collectively, the “Article 9 Collateral”): 
  
 (i) all Accounts; 
  
 (ii) all Chattel Paper; 
  
 (iii) all cash and Deposit Accounts; 
  
 (iv) all Documents; 
  
 (v) all Equipment; 
  
 (vi) all General Intangibles; 
  
 (vii) all Instruments; 
  
 (viii) all Inventory; 
  
 (ix) all Investment Property; 
  
 (x) all Letter-of-credit rights; 
  
 (xi) the commercial tort claims specified on Schedule IV; 
  
 (xii) all books and records pertaining to the Article 9 Collateral; and 
  
 (xiii) to the extent not otherwise included, all Proceeds
and products of any and all of the foregoing and all collateral security, supporting obligations and guarantees given by any Person with respect to any of the foregoing. 
  
 Notwithstanding the foregoing, the Article 9 Collateral shall not include (i) any Equipment that is subject to a purchase money lien or
capital lease permitted under the Credit Agreement to the extent the documents relating to such purchase money lien or capital lease would not permit such Equipment to be subject to the Security Interests created hereby and (ii) any property to
the extent that such grant of a security interest is prohibited by any Requirements of Law of any Governmental Authority or constitutes a breach or default under or results in termination of any contract, license, agreement, instrument or other
document evidencing or giving rise to such property or, in the case of any Investment Property or Pledged Securities, any applicable shareholder or similar agreement, except, in each case, to the extent that such Requirement of Law or the provision
of such contract, license, agreement instrument or other document or shareholder or similar agreement giving rise to such prohibition, breach, default or termination is ineffective under applicable law. 
  
 (b) Each Grantor hereby irrevocably authorizes the Collateral Agent at any
time and from time to time to file in any relevant jurisdiction any initial financing statements (including fixture filings) with respect to the Article 9 Collateral or any part thereof and 
  

 -13- 

 amendments thereto that (i) indicate the Collateral as “all assets” of such Grantor or such other
description as the Collateral Agent may determine and (ii) contain the information required by Article 9 of the Uniform Commercial Code of each applicable jurisdiction for the filing of any financing statement or amendment, including
(A) whether such Grantor is an organization, the type of organization and any organizational identification number issued to such Grantor and (B) in the case of a financing statement filed as a fixture filing or covering Article 9
Collateral constituting minerals or the like to be extracted or timber to be cut, a sufficient description of the real property to which such Article 9 Collateral relates. Each Grantor agrees to provide such information to the Collateral Agent
promptly upon request. 
  
 Each Grantor also ratifies its
authorization for the Collateral Agent to file in any relevant jurisdiction any initial financing statements (including fixture filings, as applicable) or other appropriate filings, recordings or registrations or amendments thereto if filed prior to
the date hereof. 
  
 The Collateral Agent is further authorized to
file with the United States Patent and Trademark Office or United States Copyright Office (or any successor office or any similar office in any other country) such documents as may be necessary or advisable for the purpose of perfecting, confirming,
continuing, enforcing or protecting the Security Interest granted by each Grantor, without the signature of any Grantor, and naming any Grantor or the Grantors as debtors and the Collateral Agent as secured party. 
  
 (c) The Security Interest is granted as security only and shall not subject
the Collateral Agent or any other Secured Party to, or in any way alter or modify, any obligation or liability of any Grantor with respect to or arising out of the Article 9 Collateral. 
  
 Section 4.02. Representations and Warranties. The Grantors jointly and
severally represent and warrant to the Collateral Agent and the other Secured Parties that: 
  
 (a) Each Grantor has good and valid rights in and title to the Article 9 Collateral and has full power and authority to grant to the Collateral Agent, for the ratable benefit of the Secured Parties, the Security
Interest in such Article 9 Collateral pursuant hereto and to execute, deliver and perform its obligations in accordance with the terms in this Agreement, without the consent or approval of any other Person other than any consent or approval
that has been obtained. 
  
 (b) The Perfection Certificate has
been duly prepared, completed and executed and the information set forth therein, including (x) the exact legal name of each Grantor and (y) the jurisdiction of organization of each Grantor, is correct and complete in all material respects
as of the Effective Date (except that the information referred to in the preceding clauses (x) and (y) shall not be subject to such materiality qualifier). The Uniform Commercial Code financing statements (including fixture filings, as
applicable) or other appropriate filings, recordings or registrations prepared by the Collateral Agent based upon the information provided to the Collateral Agent in the Perfection Certificate for filing in each governmental, municipal or other
office specified in Schedule 2 to the Perfection Certificate (or specified by notice from the Borrower to the Collateral Agent after the Effective Date in the case of filings, recordings or registrations required by Section 5.03(a),
5.03(b) or 5.12 of the Credit Agreement), are all the 
  

 -14- 

 filings, recordings and registrations (other than filings required to be made in the United States Patent and Trademark
Office and the United States Copyright Office in order to perfect the Security Interest in Article 9 Collateral consisting of United States Patents, United States registered Trademarks (and Trademarks for which United States registration
applications are pending) and United States registered Copyrights) that are necessary to publish notice of and protect the validity of and to establish a legal, valid and perfected security interest in favor of the Collateral Agent, for the ratable
benefit of the Secured Parties, in respect of all Article 9 Collateral in which the Security Interest may be perfected by filing, recording or registration in the United States (or any political subdivision thereof) and its territories and
possessions, and no further or subsequent filing, refiling, recording, rerecording, registration or reregistration is necessary in any such jurisdiction, except as provided under applicable law with respect to the filing of continuation statements.
Each Grantor represents and warrants that a fully executed agreement in the form hereof and containing a description of all Article 9 Collateral consisting of Intellectual Property with respect to United States Patents and United States
registered Trademarks (and Trademarks for which United States registration applications are pending) and United States registered Copyrights have been delivered to the Collateral Agent for recording by the United States Patent and Trademark Office
and the United States Copyright Office pursuant to 35 U.S.C. § 261, 15 U.S.C. § 1060 or 17 U.S.C. § 205 and the regulations thereunder, as applicable, and otherwise as may be required
pursuant to the laws of any other necessary jurisdiction, to protect the validity of and to establish a legal, valid and perfected security interest in favor of the Collateral Agent, for the ratable benefit of the Secured Parties, in respect of all
Article 9 Collateral consisting of United States Patents, United States registered Trademarks (and Trademarks for which United States registration applications are pending) and United States registered Copyrights in which a security interest
may be perfected by filing, recording or registration in the United States (or any political subdivision thereof) and its territories and possessions, and no further or subsequent filing, refiling, recording, rerecording, registration or
reregistration is necessary (other than such actions as are necessary to perfect the Security Interest with respect to any Article 9 Collateral consisting of United States Patents, United States registered Trademarks (and Trademarks for which
United States registration applications are pending) and United States registered Copyrights acquired or developed after the date hereof). 
  
 (c) The Security Interest constitutes (i) a legal and valid security interest in all the Article 9 Collateral securing the payment and
performance of the Obligations, (ii) subject to the filings described in Section 4.02(b), a perfected security interest in all Article 9 Collateral in which a security interest may be perfected by filing, recording or registering a
financing statement or analogous document in the United States (or any political subdivision thereof) and its territories and possessions pursuant to the Uniform Commercial Code or other applicable law in such jurisdictions and (iii) a security
interest that shall be perfected in all Article 9 Collateral in which a security interest may be perfected upon the receipt and recording of this Agreement with the United States Patent and Trademark Office and the United States Copyright
Office, as applicable, within the three-month period (commencing as of the date hereof) pursuant to 35 U.S.C. § 261 or 15 U.S.C. § 1060 or the one-month period (commencing as of the date hereof) pursuant to
17 U.S.C. § 205 and otherwise as may be required pursuant to the laws of any other necessary jurisdiction. The Security Interest is and shall be prior to any other Lien on any of the Article 9 Collateral, other than Permitted
Encumbrances and Liens that are permitted by the Credit Agreement and that have priority as a matter of applicable law. 
  

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 (d) The Article 9 Collateral is owned by the Grantors free and clear of any Lien, except for Liens
permitted pursuant to Section 6.02 of the Credit Agreement. None of the Grantors has filed or consented to the filing of (i) any financing statement or analogous document under the Uniform Commercial Code or any other applicable laws
covering any Article 9 Collateral, (ii) any assignment in which any Grantor assigns any Collateral or any security agreement or similar instrument covering any Article 9 Collateral with the United States Patent and Trademark Office or
the United States Copyright Office or (iii) any assignment in which any Grantor assigns any Article 9 Collateral or any security agreement or similar instrument covering any Article 9 Collateral with any foreign governmental,
municipal or other office, which financing statement or analogous document, assignment, security agreement or similar instrument is still in effect, except, in each case, for Liens permitted pursuant to Section 6.02 of the Credit Agreement.

  
 Section 4.03. Covenants. (a) Each Grantor agrees
promptly (but in no case more than 90 days) to notify the Collateral Agent in writing of any change (i) in its legal name, (ii) in the location of its chief executive office or its principal place of business, (iii) in its identity or
type of organization or corporate structure, (iv) in its Federal Taxpayer Identification Number or organizational identification number or (v) in its jurisdiction of organization. Each Grantor agrees to promptly provide the Collateral
Agent with certified organizational documents reflecting any of the changes described in the first sentence of this Section 4.03(a). Each Grantor agrees not to effect or permit any change referred to in the second preceding sentence unless all
filings have been made under the Uniform Commercial Code or otherwise that are required in order for the Collateral Agent to continue at all times following such change to have a valid, legal and perfected first priority security interest (subject
to Liens permitted under Section 6.02 of the Credit Agreement) in the Article 9 Collateral. Each Grantor agrees promptly to notify the Collateral Agent if any portion of the Article 9 Collateral material to a Grantor’s business
owned or held by such Grantor is damaged or destroyed. 
  
 (b)
Each Grantor agrees to maintain, at its own cost and expense, such complete and accurate records with respect to the Article 9 Collateral owned by it as is consistent with its current practices and in accordance with such standard practices
used in industries that are the same as or similar to those in which such Grantor is engaged, but in any event to include complete accounting records indicating all payments and proceeds received with respect to any part of the Article 9
Collateral, and, at such time or times as the Collateral Agent may reasonably request, promptly to prepare and deliver to the Collateral Agent a duly certified schedule or schedules in form and detail reasonably satisfactory to the Collateral Agent
showing the identity, amount and location of any and all Article 9 Collateral. 
  
 (c) Each year, at the time of delivery of annual financial statements with respect to the preceding fiscal year pursuant to Section 5.01(a) of the Credit Agreement, the Borrower shall deliver to the Collateral
Agent a certificate executed by a Financial Officer of the Borrower setting forth the information required pursuant to the Perfection Certificate or confirming that there has been no material change in such information since the date of the
Perfection Certificate delivered on the Effective Date or the date of the most recent certificate delivered pursuant to this Section 4.03(c). Each certificate delivered pursuant to this Section 4.03(c) shall identify in the format of
Schedule III all Intellectual Property of any Grantor in existence on the date thereof and not then listed on such Schedules or previously so identified to the Collateral Agent. 
  

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 (d) Each Grantor shall, at its own expense, take any and all actions necessary to defend title to the
Article 9 Collateral (other than Article 9 Collateral that is deemed by the board of directors of such Grantor to be immaterial to the conduct of its business) against all Persons and to defend the Security Interest of the Collateral Agent
in the Article 9 Collateral and the priority thereof against any Lien not expressly permitted pursuant to Section 6.02 of the Credit Agreement. Nothing in this Agreement shall prevent any Grantor from discontinuing the operation or
maintenance of any of its assets or properties if such discontinuance is (x) in the judgment of its board of directors, desirable in the conduct of its business and (y) permitted by the Credit Agreement. 
  
 (e) Each Grantor agrees, at its own expense, to execute, acknowledge, deliver
and cause to be duly filed all such further instruments and documents and take all such actions as the Collateral Agent may from time to time reasonably request to better assure, preserve, protect and perfect the Security Interest and the rights and
remedies created hereby, including the payment of any fees and taxes required in connection with the execution and delivery of this Agreement, the granting of the Security Interest and the filing of any financing statements (including fixture
filings) or other documents (including execution of agreements in the form of Exhibits IV, V and VI and filing such agreements with the United States Patent and Trademark Office or United States Copyright Office, as applicable) in connection
herewith or therewith. If any amount payable to any Grantor under or in connection with any of the Article 9 Collateral shall be or become evidenced by any promissory note or other instrument in excess of $1,000,000 or by any promissory note or
other instrument in an amount that when taken together with any promissory note or other instruments not previously pledged and endorsed to the Collateral Agent exceeds $5,000,000, such note or instrument shall be promptly pledged and delivered to
the Collateral Agent, duly endorsed in a manner satisfactory to the Collateral Agent. 
  
 (f) The Collateral Agent and such Persons as the Collateral Agent may reasonably designate shall have the right, at the Grantors’ own cost and expense, to inspect the Article 9 Collateral, all records
related thereto (and to make extracts and copies from such records) and the premises upon which any of the Article 9 Collateral is located, to discuss the Grantors’ affairs with the officers of the Grantors and their independent
accountants and to verify under reasonable procedures, in accordance with Section 5.09 of the Credit Agreement, the validity, amount, quality, quantity, value, condition and status of, or any other matter relating to, the Article 9 Collateral,
including, (upon the occurrence and during the continuation of a Default or with the consent of the applicable Grantor (not to be unreasonably withheld)) in the case of Accounts or other Article 9 Collateral in the possession of any third
person, by contacting Account Debtors or the third person possessing such Article 9 Collateral for the purpose of making such a verification. Subject to Section 9.12 of the Credit Agreement, the Collateral Agent shall have the absolute
right to share any information it gains from such inspection or verification with any Secured Party. 
  
 (g) At its option, the Collateral Agent may discharge past due Taxes, assessments, charges, fees or Liens at any time levied or placed on the
Article 9 Collateral and not permitted pursuant to Section 6.02 of the Credit Agreement, and may pay for the 
  

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 maintenance and preservation of the Article 9 Collateral to the extent any Grantor fails to do so as required by the
Credit Agreement or this Agreement, and each Grantor jointly and severally agrees to reimburse the Collateral Agent on demand for any payment made or any expense incurred by the Collateral Agent pursuant to the foregoing authorization,
provided that nothing in this paragraph shall be interpreted as excusing any Grantor from the performance of, or imposing any obligation on the Collateral Agent or any Secured Party to cure or perform, any covenants or other promises of any
Grantor with respect to Taxes, assessments, charges, fees, Liens and maintenance as set forth in this Agreement or in the other Loan Documents. 
  
 (h) If at any time any Grantor shall take a security interest in any property of an Account Debtor or any other Person with a value in excess of
$1,000,000 or with a value that when taken together with the value of any property of an Account Debtor or any other Person not previously assigned to the Collateral Agent exceeds $5,000,000, to secure payment and performance of an Account, such
Grantor shall promptly assign such security interest to the Collateral Agent. Such assignment need not be filed of public record unless necessary to continue the perfected status of the security interest against creditors of and transferees from the
Account Debtor or other Person granting the security interest. 
  
 (i) Each Grantor shall remain liable to observe and perform all the conditions and material obligations to be observed and performed by it under each contract, agreement or instrument relating to the Article 9 Collateral, all in
accordance with the terms and conditions thereof, and each Grantor jointly and severally agrees to indemnify and hold harmless the Collateral Agent and the other Secured Parties from and against any and all liability for such performance.

  
 (j) None of the Grantors shall make or permit to be made an
assignment, pledge or hypothecation of the Article 9 Collateral or shall grant any other Lien in respect of the Article 9 Collateral, except as permitted by the Credit Agreement. Subject to the immediately following sentence, none of the
Grantors shall make or permit to be made any transfer of the Article 9 Collateral and each Grantor shall remain at all times in possession of the Article 9 Collateral owned by it, except as permitted by Sections 6.02 and 6.05 of the
Credit Agreement. Without limiting the generality of the foregoing, each Grantor agrees that it shall not permit any Inventory to be in the possession or control of any warehouseman, agent, bailee, or processor at any time unless such Person shall
have been notified of the Security Interest and shall have acknowledged in writing, in form and substance reasonably satisfactory to the Collateral Agent, that such warehouseman, agent, bailee or processor holds the Inventory for the benefit of the
Collateral Agent subject to the Security Interest and shall act upon the instructions of the Collateral Agent without further consent from the Grantor, and that such warehouseman, agent, bailee or processor further agrees to waive and release any
Lien held by it with respect to such Inventory, whether arising by operation of law or otherwise; provided that such notice and acknowledgement shall not be required if the aggregate fair value of Inventory in the possession of or subject to
the control of such warehouseman, agent, bailee or processor who has not been so notified and provided such acknowledgement is less than $1,000,000 and the aggregate fair value of Inventory in the possession of or subject to the control of all
warehousemen, agents, bailees and processors who have not been so notified and provided such acknowledgement is less than $5,000,000. 
  

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 (k) None of the Grantors will, without the Collateral Agent’s prior written consent, grant any
extension of the time of payment of any Accounts included in the Article 9 Collateral, compromise, compound or settle the same for less than the full amount thereof, release, wholly or partly, any Person liable for the payment thereof or allow
any credit or discount whatsoever thereon, other than compromises, compoundings, settlements and collections made in the ordinary course of business or in accordance with the reasonable business judgment of such Grantor. 
  
 (l) The Grantors, at their own expense, shall maintain or cause to be
maintained insurance covering physical loss or damage to the Inventory and Equipment in accordance with the requirements set forth in Section 5.07 of the Credit Agreement. Each Grantor irrevocably makes, constitutes and appoints the Collateral
Agent (and all officers, employees or agents designated by the Collateral Agent) as such Grantor’s true and lawful agent (and attorney-in-fact) for the purpose, upon the occurrence and during the continuation of an Event of Default, of making,
settling and adjusting claims in respect of Article 9 Collateral under policies of insurance, endorsing the name of such Grantor on any check, draft, instrument or other item of payment for the proceeds of such policies of insurance and for
making all determinations and decisions with respect thereto. In the event that any Grantor at any time or times shall fail to obtain or maintain any of the policies of insurance required under the Credit Agreement or to pay any premium in whole or
part relating thereto, the Collateral Agent may, without waiving or releasing any obligation or liability of the Grantors hereunder or any Event of Default, in its sole reasonable discretion, obtain and maintain such policies of insurance and pay
such premium and take any other actions with respect thereto as the Collateral Agent deems advisable. All sums disbursed by the Collateral Agent in connection with this paragraph, including reasonable attorneys’ fees, court costs, out-of-pocket
expenses and other charges relating thereto, shall be payable, upon demand, by the Grantors to the Collateral Agent and shall be additional Obligations secured hereby. 
  
 (m) Each Grantor shall maintain, in form and manner reasonably satisfactory to the Collateral Agent, records of its Chattel
Paper and its books, records and documents evidencing or pertaining thereto. 
  
 Section 4.04. Other Actions. In order to insure the attachment, perfection and priority of, and the ability of the Collateral Agent to enforce, the Security Interest, each Grantor agrees, in each case at such
Grantor’s own expense, to take the following actions with respect to the following Article 9 Collateral: 
  
 (a) Instruments and Tangible Chattel Paper. Each Grantor represents and warrants that each Instrument and each item of Tangible Chattel Paper with
a value in excess of $1,000,000 in existence on the date hereof has been properly endorsed, assigned and delivered to the Collateral Agent, accompanied by instruments of transfer or assignment duly executed in blank. If any Grantor shall at any time
hold or acquire any Instruments or Chattel Paper with a value in excess of $1,000,000 or any Instrument or Chattel Paper with a value that when taken together with the value of any Instrument or Chattel Paper not previously endorsed, assigned and
delivered to the Collateral Agent exceeds $5,000,000, such Grantor shall forthwith endorse, assign and deliver the same to the Collateral Agent, accompanied by such undated instruments of transfer or assignment duly executed in blank as the
Collateral Agent may from time to time reasonably request. 
  

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 (b) Electronic Chattel Paper and Transferable Records. If any Grantor at any time holds or
acquires an interest in any electronic chattel paper or any “transferable record,” as that term is defined in Section 201 of the Federal Electronic Signatures in Global and National Commerce Act, or in Section 16 of the Uniform
Electronic Transactions Act as in effect in any relevant jurisdiction, such Grantor shall promptly notify the Collateral Agent thereof and, at the request of the Collateral Agent, shall take such action as the Collateral Agent may reasonably request
to vest in the Collateral Agent control under New York UCC Section 9-105 of such electronic chattel paper or control under Section 201 of the Federal Electronic Signatures in Global and National Commerce Act or, as applicable,
Section 16 of the Uniform Electronic Transactions Act, as in effect in such jurisdiction, of such transferable record. The Collateral Agent agrees with such Grantor that the Collateral Agent will arrange, pursuant to procedures reasonably
satisfactory to the Collateral Agent and so long as such procedures will not result in the Collateral Agent’s loss of control, for the Grantor to make alterations to the electronic chattel paper or transferable record permitted under UCC
Section 9-105 or, as applicable, Section 201 of the Federal Electronic Signatures in Global and National Commerce Act or Section 16 of the Uniform Electronic Transactions Act for a party in control to allow without loss of control,
unless an Event of Default has occurred and is continuing or would occur after taking into account any action by such Grantor with respect to such electronic chattel paper or transferable record. 
  
 (c) Letter-of-Credit Rights. If any Grantor is at any time a
beneficiary under a letter of credit now or hereafter issued in favor of such Grantor in an amount in excess of $1,000,000 or in an amount that when taken together with the any letter of credit not previously assigned or transferred to the
Collateral Agent in pursuant to clauses (i) or (ii) of this Section 4.04(c) exceeds $5,000,000, such Grantor shall promptly notify the Collateral Agent thereof and, at the request and option of the Collateral Agent, such Grantor
shall, pursuant to an agreement in form and substance reasonably satisfactory to the Collateral Agent, either (i) arrange for the issuer and any confirmer of such letter of credit to consent to an assignment to the Collateral Agent of the
proceeds of any drawing under such letter of credit or (ii) arrange for the Collateral Agent to become the transferee beneficiary of such letter of credit, with the Collateral Agent agreeing, in each case, that the proceeds of any drawing under
such letter of credit are to be paid to the applicable Grantor unless an Event of Default has occurred or is continuing. 
  
 (d) Commercial Tort Claims. If any Grantor shall at any time hold or acquire a commercial tort claim in an amount reasonably estimated to exceed
$1,000,000 or in an amount that when taken together with any commercial tort claim in which the Collateral Agent has not previously been granted a security interest exceeds $5,000,000, the Grantor shall promptly notify the Collateral Agent thereof
in a writing signed by such Grantor including a summary description of such claim and grant to the Collateral Agent, for the ratable benefit of the Secured Parties, in such writing a security interest therein and in the proceeds thereof, all upon
the terms of this Agreement, with such writing to be in form and substance reasonably satisfactory to the Collateral Agent. 
  

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 Section 4.05. Covenants Regarding Patent, Trademark and Copyright Collateral. 
  
 (a) Each Grantor agrees that it will not do any act or omit to do any act
(and will exercise commercially reasonable efforts to prevent its licensees from doing any act or omitting to do any act) whereby any Patent that is material to the conduct of such Grantor’s business would become invalidated or dedicated to the
public, and agrees that it shall continue to mark any products covered by a Patent with the relevant patent number as necessary and sufficient in its reasonable judgment to establish and preserve its material rights under applicable patent laws.

  
 (b) Each Grantor (either itself or through its licensees or
its sublicensees) will, for each Trademark material to the conduct of such Grantor’s business, (i) maintain such Trademark in full force free from any claim of abandonment or invalidity for non-use, (ii) use commercially reasonable
efforts to maintain the quality of products and services offered under such Trademark, (iii) display such Trademark with notice of Federal or foreign registration (or, if such Trademark is unregistered, display such Trademark with notice as
required for unregistered Trademarks) to the extent necessary and sufficient to establish and preserve its maximum rights under applicable law and (iv) not knowingly use or knowingly permit the use of such Trademark in any violation of any
third party rights. 
  
 (c) Each Grantor (either itself or through
its licensees or sublicensees) will, for each work covered by a Copyright material to the conduct of such Grantor’s business, continue to publish, reproduce, display, adopt and distribute the work with appropriate copyright notice as necessary
and sufficient in its reasonable judgment to establish and preserve its material rights under applicable copyright laws. 
  
 (d) Each Grantor shall notify the Collateral Agent promptly if it knows that any Patent, Trademark or Copyright material to the conduct of its business
could reasonably be expected to become abandoned, lost or dedicated to the public, or of any materially adverse determination or development (including the institution of, or any such determination or development in, any proceeding in the United
States Patent and Trademark Office, United States Copyright Office or any court or similar office of any country) regarding such Grantor’s ownership of any Patent, Trademark or Copyright, its right to register the same, or its right to keep and
maintain the same. 
  
 (e) In no event shall any Grantor, either
itself or through any agent, employee, licensee or designee, file an application with respect to any Patent, Trademark or Copyright (or for the registration of any Trademark or Copyright) with the United States Patent and Trademark Office, United
States Copyright Office or any office or agency in any political subdivision of the United States or in any other country or any political subdivision thereof, unless it promptly informs the Collateral Agent and, upon request of the Collateral
Agent, executes and delivers any and all agreements, instruments, documents and papers as the Collateral Agent may reasonably request to evidence the Collateral Agent’s security interest in such Patent, Trademark or Copyright, and each Grantor
hereby appoints the Collateral Agent as its attorney-in-fact to execute and file such writings as are reasonably necessary for the foregoing purposes, all acts of such attorney being hereby ratified and confirmed; such power, being coupled with an
interest, is irrevocable. 
  

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 (f) Each Grantor will take all reasonably necessary steps that are consistent with the practice in any
proceeding before the United States Patent and Trademark Office, United States Copyright Office or any office or agency in any political subdivision of the United States or in any other country or any political subdivision thereof, to maintain and
pursue each registration or application that is material to the conduct of such Grantor’s business relating to the Patents, Trademarks and/or Copyrights (and to obtain the relevant grant or registration) and to maintain each issued Patent and
each registration of the Trademarks and Copyrights that is material to the conduct of any Grantor’s business, including timely filings of applications for renewal, affidavits of use, affidavits of incontestability and payment of maintenance
fees, and, if consistent with good business judgment, to initiate opposition, interference and cancellation proceedings against third parties. 
  
 (g) In the event that any Grantor knows that any Article 9 Collateral consisting of a Patent, Trademark or Copyright material to the conduct of any
Grantor’s business has been or is about to be infringed, misappropriated or diluted by a third party, such Grantor promptly shall notify the Collateral Agent and shall, if consistent with good business judgment, promptly sue for infringement,
misappropriation or dilution and to recover any and all damages for such infringement, misappropriation or dilution (and take any actions required by applicable law prior to instituting such suit), and take such other actions as are appropriate
under the circumstances to protect such Article 9 Collateral. Nothing in this Agreement shall prevent any Grantor from discontinuing the use or maintenance of any Article 9 Collateral consisting of a Patent, Trademark or Copyright, or
require any Grantor to pursue any claim of infringement, misappropriation or dilution, if (x) such Grantor so determines in its good business judgment and (y) it is not prohibited by the Credit Agreement. 
  
 (h) Upon and during the continuation of an Event of Default, each Grantor
shall, at the request of the Collateral Agent, use its commercially reasonable efforts to obtain all requisite consents or approvals by the licensor of each Copyright License, Patent License or Trademark License to effect the assignment of all such
Grantor’s right, title and interest thereunder to the Collateral Agent or its designee. 
  
 Section 4.06. Cash Management System, Securities Accounts and Commodity Accounts. 
  
 (a) Deposit Accounts. As of the date hereof (i) each Grantor has neither opened nor maintains any Deposit Accounts other than the accounts
listed on Schedule V and (ii) each of the Deposit Accounts that is designated on such Schedule V as a controlled account is subject to the terms of a Deposit Account Control Agreement. No Grantor shall hereafter establish and maintain
any Deposit Account unless (1) the applicable Grantor shall have given the Collateral Agent 30 days’ prior written notice of its intention to establish such new Deposit Account with a Bank, (2) such Bank shall be reasonably acceptable
to the Collateral Agent and (3) such Bank and such Grantor shall have duly executed and delivered to the Collateral Agent a Deposit Account Control Agreement with respect to such Deposit Account. The Collateral Agent agrees with each Grantor
that the Collateral Agent shall not give any instructions directing the disposition of funds from time to time credited to any Deposit Account or withhold any withdrawal rights from such Grantor with respect to funds from time to time credited to
any Deposit Account except upon the occurrence and during the continuation of an Event of Default. No Grantor shall grant Control of any Deposit Account to any person other than the Collateral Agent. 
  

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 (b) Securities Accounts and Commodity Accounts. As of the date hereof each Grantor has no
Securities Accounts or Commodity Accounts other than those listed in Schedule V and the Collateral Agent has a perfected first priority security interest in such Securities Accounts and Commodity Accounts by Control. No Grantor shall
hereafter establish and maintain any Securities Account or Commodity Account with any Securities Intermediary or Commodity Intermediary unless (1) the applicable Grantor shall have given the Collateral Agent 30 days’ prior written notice
of its intention to establish such new Securities Account or Commodity Account with such Securities Intermediary or Commodity Intermediary, (2) such Securities Intermediary or Commodity Intermediary shall be reasonably acceptable to the
Collateral Agent and (3) such Securities Intermediary or Commodity Intermediary, as the case may be, and such Grantor shall have duly executed and delivered a Control Agreement with respect to such Securities Account or Commodity Account, as
the case may be. Each Grantor shall accept any cash and Investment Property in trust for the benefit of the Collateral Agent and within one (1) Business Day of actual receipt thereof, deposit any and all cash and Investment Property (other than
any Investment Property pledged pursuant to Section 3.02 received by it) into a Deposit Account or Securities Account subject to Collateral Agent’s Control. The Collateral Agent agrees with each Grantor that the Collateral Agent shall not
give any Entitlement Orders or instructions or directions to any issuer of uncertificated securities, Securities Intermediary or Commodity Intermediary, and shall not withhold its consent to the exercise of any withdrawal or dealing rights by such
Grantor, unless an Event of Default has occurred and is continuing or, after giving effect to any such investment and withdrawal rights, would occur. No Grantor shall grant control over any Investment Property to any person other than the Collateral
Agent. 
  
 (c) The provisions of this Section 4.06 shall not
apply to (x) any Excluded Accounts or (y) any other Deposit Accounts (including Medicare Deposit Accounts), Securities Accounts or Commodities Accounts opened or maintained by the Grantors (such accounts, “Non-Excluded
Accounts”) to the extent that the aggregate average available daily balance over the immediately preceding 12-month period for all such Non-Excluded Accounts shall not at any time exceed $3,000,000; provided that to the extent such
balance exceeds $3,000,000, the Grantors agree to promptly (but in no case longer than the greater of (i) 60 days or (ii) such longer period as agreed to by the Collateral Agent in its reasonable judgment) grant Control over certain
Non-Excluded Accounts not covered by Control Agreements, as selected by the Grantors, such that immediately after implementing Control Agreements, such balance as recalculated shall not exceed $3,000,000. For purposes of this clause (c),
“Excluded Accounts” includes (A) the LC Account or any Deposit Account for which the Collateral Agent is the Bank, (B) any Securities Account or Commodities Account for which the Collateral Agent is the Securities Intermediary or
the Commodity Intermediary, respectively, (C) any Deposit Account maintained solely for payroll purposes or holding solely restricted cash in connection with self-insurance programs, (D) Deposit Accounts, Securities Accounts and
Commodities Accounts that are subject to Control Agreements and (E) during a six-month period following any Permitted Acquisition, any Deposit Accounts, Securities Accounts and Commodities Accounts acquired by a Grantor in connection with such
Permitted Acquisition. 
  

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 ARTICLE V 
  
 Remedies 
  
 Section 5.01. Remedies upon Default. Upon the occurrence and during the continuation of an Event of Default, each Grantor agrees to deliver each
item of Collateral to the Collateral Agent on demand, and it is agreed that the Collateral Agent shall have the right to take any of or all the following actions at the same or different times: (a) with respect to any Article 9 Collateral
consisting of Intellectual Property, on demand, to cause the Security Interest to become an assignment, transfer and conveyance of any of or all such Article 9 Collateral by the applicable Grantors to the Collateral Agent, for the ratable
benefit of the Secured Parties, or to license or sublicense, whether general, special or otherwise, and whether on an exclusive or nonexclusive basis, any such Article 9 Collateral throughout the world on such terms and conditions and in such
manner as the Collateral Agent shall determine (other than in violation of any then-existing licensing arrangements to the extent that waivers cannot be obtained), and (b) with or without legal process and with or without prior notice or demand
for performance, to take possession of the Article 9 Collateral and without liability for trespass to enter any premises where the Article 9 Collateral may be located for the purpose of taking possession of or removing the Article 9
Collateral and, generally, to exercise any and all rights afforded to a secured party under the Uniform Commercial Code or other applicable law. Without limiting the generality of the foregoing, each Grantor agrees that the Collateral Agent shall
have the right, subject to the mandatory requirements of applicable law, to sell or otherwise dispose of all or any part of the Collateral at a public or private sale or at any broker’s board or on any securities exchange, for cash, upon credit
or for future delivery as the Collateral Agent shall deem appropriate. Each such purchaser at any sale of Collateral shall hold the property sold absolutely, free from any claim or right on the part of any Grantor, and each Grantor hereby waives (to
the extent permitted by law) all rights of redemption, stay and appraisal that such Grantor now has or may at any time in the future have under any rule of law or statute now existing or hereafter enacted. 
  
 The Collateral Agent shall give the applicable Grantors 10 days’
written notice (which each Grantor agrees is reasonable notice within the meaning of Section 9-611 of the New York UCC or its equivalent in other jurisdictions) of the Collateral Agent’s intention to make any sale of Collateral. Such
notice, in the case of a public sale, shall state the time and place for such sale and, in the case of a sale at a broker’s board or on a securities exchange, shall state the board or exchange at which such sale is to be made and the day on
which the Collateral, or portion thereof, will first be offered for sale at such board or exchange. Any such public sale shall be held at such time or times within ordinary business hours and at such place or places as the Collateral Agent may fix
and state in the notice (if any) of such sale. At any such sale, the Collateral, or portion thereof, to be sold may be sold in one lot as an entirety or in separate parcels, as the Collateral Agent may determine in its sole and absolute discretion.
The Collateral Agent shall not be obligated to make any sale of any Collateral if it shall determine not to do so, regardless of the fact that notice of sale of such Collateral shall have been given. The Collateral Agent may, without notice or
publication, adjourn any public or private sale or cause the same to be adjourned from time to time by announcement at the time and place fixed for sale, and such sale may, without further notice, be made at the time and place to which the same was
so 
  

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 adjourned. In case any sale of all or any part of the Collateral is made on credit or for future delivery, the Collateral
so sold may be retained by the Collateral Agent until the sale price is paid by the purchaser or purchasers thereof, but the Collateral Agent and the other Secured Parties shall not incur any liability in case any such purchaser or purchasers shall
fail to take up and pay for the Collateral so sold and, in case of any such failure, such Collateral may be sold again upon like notice. At any public (or, to the extent permitted by law, private) sale made pursuant to this Agreement, any Secured
Party may bid for or purchase, free (to the extent permitted by law) from any right of redemption, stay, valuation or appraisal on the part of any Grantor (all said rights being also hereby waived and released to the extent permitted by law), the
Collateral or any part thereof offered for sale and may make payment on account thereof by using any claim then due and payable to such Secured Party from any Grantor as a credit against the purchase price, and such Secured Party may, upon
compliance with the terms of sale, hold, retain and dispose of such property without further accountability to any Grantor therefor. For purposes hereof, a written agreement to purchase the Collateral or any portion thereof shall be treated as a
sale thereof; the Collateral Agent shall be free to carry out such sale pursuant to such agreement and no Grantor shall be entitled to the return of the Collateral or any portion thereof subject thereto, notwithstanding the fact that after the
Collateral Agent shall have entered into such an agreement, all Events of Default shall have been remedied and the Obligations paid in full. As an alternative to exercising the power of sale herein conferred upon it, the Collateral Agent may proceed
by a suit or suits at law or in equity to foreclose this Agreement and to sell the Collateral or any portion thereof pursuant to a judgment or decree of a court or courts having competent jurisdiction or pursuant to a proceeding by a court-appointed
receiver. Any sale pursuant to the provisions of this Section 5.01 shall be deemed to conform to the commercially reasonable standards as provided in Section 9-610(b) of the New York UCC or its equivalent in other jurisdictions.

  
 Section 5.02. Application of Proceeds. The Collateral
Agent shall apply the proceeds of any collection or sale of Collateral pursuant to this Article V, including any Collateral consisting of cash, as follows: 
  
 FIRST, to the payment of all costs and expenses incurred by the Collateral Agent and the Administrative
Agent in connection with such collection or sale or otherwise in connection with this Agreement, any other Loan Document or any of the Obligations, including all court costs and the fees and expenses of its agents and legal counsel, the repayment of
all advances made by the Collateral Agent hereunder or under any other Loan Document on behalf of any Grantor and any other costs or expenses incurred in connection with the exercise of any right or remedy hereunder or under any other Loan Document;

  
 SECOND, to the payment in full of the
Obligations (the amounts so applied to be distributed among the Secured Parties pro rata in accordance with the amounts of the Obligations owed to them on the date of any such distribution); and 
  
 THIRD, to the Grantors, their successors or assigns, or as a
court of competent jurisdiction may otherwise direct. 
  

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 The Collateral Agent shall have sole and absolute discretion as to the time of application of any such proceeds, moneys
or balances in accordance with this Agreement. Upon any sale of Collateral by the Collateral Agent (including pursuant to a power of sale granted by statute or under a judicial proceeding), the receipt of the Collateral Agent or of the officer
making the sale shall be a sufficient discharge to the purchaser or purchasers of the Collateral so sold and such purchaser or purchasers shall not be obligated to see to the application of any part of the purchase money paid over to the Collateral
Agent or such officer or be answerable in any way for the misapplication thereof. 
  
 Section 5.03. Grant of License To Use Intellectual Property. For the purpose of enabling the Collateral Agent to exercise rights and remedies under this Agreement at such time as the Collateral Agent shall be
lawfully entitled to exercise such rights and remedies, each Grantor hereby grants to the Collateral Agent an irrevocable, nonexclusive license (exercisable without payment of royalty or other compensation to the Grantors) to use, license or
sublicense any of the Article 9 Collateral consisting of Intellectual Property now owned or hereafter acquired by such Grantor, and wherever the same may be located, and including in such license reasonable access to all media in which any of
the licensed items may be recorded or stored and to all computer software and programs used for the compilation or printout thereof. The use of such license by the Collateral Agent shall be exercised, at the option of the Collateral Agent, only upon
the occurrence and during the continuation of an Event of Default, provided that any license, sublicense or other transaction entered into by the Collateral Agent in accordance herewith shall be binding upon the Grantors notwithstanding any
subsequent cure of an Event of Default. 
  
 Section 5.04.
Securities Act. In view of the position of the Grantors in relation to the Pledged Collateral, or because of other current or future circumstances, a question may arise under the Securities Act of 1933, as now or hereafter in effect, or any
similar statute hereafter enacted analogous in purpose or effect (such Act and any such similar statute as from time to time in effect being called the “Federal Securities Laws”) with respect to any disposition of the Pledged
Collateral permitted hereunder. Each Grantor understands that compliance with the Federal Securities Laws might very strictly limit the course of conduct of the Collateral Agent if the Collateral Agent were to attempt to dispose of all or any part
of the Pledged Collateral, and might also limit the extent to which or the manner in which any subsequent transferee of any Pledged Collateral could dispose of the same. Similarly, there may be other legal restrictions or limitations affecting the
Collateral Agent in any attempt to dispose of all or part of the Pledged Collateral under applicable Blue Sky or other state securities laws or similar laws analogous in purpose or effect. Each Grantor recognizes that in light of such restrictions
and limitations the Collateral Agent may, with respect to any sale of the Pledged Collateral, limit the purchasers to those who will agree, among other things, to acquire such Pledged Collateral for their own account, for investment, and not with a
view to the distribution or resale thereof. Each Grantor acknowledges and agrees that in light of such restrictions and limitations, the Collateral Agent, in its sole and absolute discretion (a) may proceed to make such a sale whether or not a
registration statement for the purpose of registering such Pledged Collateral or part thereof shall have been filed under the Federal Securities Laws and (b) may approach and negotiate with a single potential purchaser to effect such sale. Each
Grantor acknowledges and agrees that any such sale might result in prices and other terms less favorable to the seller than if such sale were a public sale without such restrictions. In the event of any such sale, the 
  

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 Collateral Agent shall incur no responsibility or liability for selling all or any part of the Pledged Collateral at a
price that the Collateral Agent, in its sole and absolute discretion, may in good faith deem reasonable under the circumstances, notwithstanding the possibility that a substantially higher price might have been realized if the sale were deferred
until after registration as aforesaid or if more than a single purchaser were approached. The provisions of this Section 5.04 will apply notwithstanding the existence of a public or private market upon which the quotations or sales prices may
exceed substantially the price at which the Collateral Agent sells. 
  
 Section 5.05. Medicare/Medicaid. The parties hereto understand and agree that the exercise of remedies hereunder with respect to receivables from Medicare or Medicaid may be subject to applicable federal laws. 
  
 ARTICLE VI 
  
 Indemnity, Subrogation and Subordination 
  
 Section 6.01. Indemnity and Subrogation. In addition to all such rights of indemnity and subrogation as the
Guarantors may have under applicable law (but subject to Section 6.03), the Borrower agrees that (a) in the event a payment of any Obligation shall be made by any Guarantor under this Agreement, the Borrower shall indemnify such Guarantor
for the full amount of such payment and such Guarantor shall be subrogated to the rights of the Person to whom such payment shall have been made to the extent of such payment and (b) in the event any assets of any Grantor shall be sold pursuant
to this Agreement or any other Security Document to satisfy in whole or in part any Obligation owed to any Secured Party, the Borrower shall indemnify such Grantor in an amount equal to the fair value of the assets so sold. 
  
 Section 6.02. Contribution and Subrogation. Each Guarantor and Grantor
(a “Contributing Party”) agrees (subject to Section 6.03) that, in the event a payment shall be made by any other Guarantor hereunder in respect of any Obligation or assets of any other Grantor shall be sold pursuant to any
Security Document to satisfy any Obligation owed to any Secured Party and such other Guarantor or Grantor (the “Claiming Party”) shall not have been fully indemnified by the Borrower as provided in Section 6.01, the
Contributing Party shall indemnify the Claiming Party in an amount equal to the amount of such payment or the greater of the book value or the fair value of such assets, as applicable, in each case multiplied by a fraction of which the numerator
shall be the net worth of the Contributing Party on the date hereof and the denominator shall be the aggregate net worth of all the Guarantors and Grantors on the date hereof (or, in the case of any Guarantor or Grantor becoming a party hereto
pursuant to Section 7.14, the date of the supplement hereto executed and delivered by such Guarantor or Grantor). Any Contributing Party making any payment to a Claiming Party pursuant to this Section 6.02 shall be subrogated to the rights
of such Claiming Party under Section 6.01 to the extent of such payment. 
  
 Section 6.03. Subordination. Notwithstanding any provision in this Agreement to the contrary, all rights of the Guarantors and Grantors under Sections 6.01 and 6.02 and all other rights of indemnity,
contribution or subrogation under applicable law or otherwise shall be 
  

 -27- 

 fully subordinated to the indefeasible payment in full in cash of the Obligations. No failure on the part of the Borrower
or any Guarantor or Grantor to make the payments required by Sections 6.01 and 6.02 (or any other payments required under applicable law or otherwise) shall in any respect limit the obligations and liabilities of any Guarantor or Grantor with
respect to its Obligations hereunder, and each Guarantor and Grantor shall remain liable for the full amount of the Obligations of such Guarantor or Grantor hereunder. 
  
 ARTICLE VII 
  
 Miscellaneous 
  
 Section 7.01. Notices. All communications and notices hereunder shall (except as otherwise expressly permitted in this Agreement) be in writing and
given as provided in Section 9.01 of the Credit Agreement, provided that any communication or notice hereunder from the Collateral Agent to any Loan Party upon the occurrence and during the continuation of an Event of Default may be
given by telephone if promptly confirmed in writing. All communications and notices hereunder to any Subsidiary Loan Party shall be given to it in care of the Borrower as provided in Section 9.01 of the Credit Agreement. 
  
 Section 7.02. Waivers; Amendment. i) No failure or delay by any
Secured Party in exercising any right or power hereunder or under any other Loan Document shall operate as a waiver thereof, nor shall any single or partial exercise of any such right or power, or any abandonment or discontinuance of steps to
enforce such a right or power, preclude any other or further exercise thereof or the exercise of any other right or power. The rights and remedies of the Secured Parties hereunder and under the other Loan Documents are cumulative and are not
exclusive of any rights or remedies that they would otherwise have. No waiver of any provision in this Agreement or consent to any departure by any Loan Party therefrom shall in any event be effective unless the same shall be permitted by
paragraph (b) of this Section 7.02, and then such waiver or consent shall be effective only in the specific instance and for the purpose for which given. Without limiting the generality of the foregoing, the making of a Loan or issuance of
a Letter of Credit shall not be construed as a waiver of any Default, regardless of whether any Secured Party may have had notice or knowledge of such Default at the time. No notice or demand on any Loan Party in any case shall entitle any Loan
Party to any other or further notice or demand in similar or other circumstances. 
  
 (b) Neither this Agreement nor any provision hereof may be waived, amended or modified except pursuant to an agreement or agreements in writing entered into by the Collateral Agent and the Loan Party or Loan Parties
with respect to which such waiver, amendment or modification is to apply, subject to any consent required in accordance with Section 9.02 of the Credit Agreement. 
  
 Section 7.03. Collateral Agent’s Fees and Expenses; Indemnification. (a) The parties hereto agree that the
Collateral Agent shall be entitled to reimbursement of its reasonable out-of-pocket expenses incurred hereunder as provided in Section 9.03 of the Credit Agreement. 
  

 -28- 

 (b) Without limitation of its indemnification obligations under the other Loan Documents, each Grantor
and each Guarantor jointly and severally agrees to indemnify the Collateral Agent and the other Indemnitees (as defined in Section 9.03 of the Credit Agreement) against, and hold each Indemnitee harmless from, any and all losses, claims,
damages, liabilities and related out-of-pocket expenses, including the fees, charges and disbursements of any counsel for any Indemnitee, incurred by or asserted against any Indemnitee arising out of, in connection with, or as a result of, the
execution, delivery or performance of this Agreement or any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing agreements or instruments contemplated hereby, or to the Collateral, whether or not any
Indemnitee is a party thereto, provided that such indemnity shall not, as to any Indemnitee, be available to the extent that such losses, claims, damages, liabilities or related out-of-pocket expenses are determined by a court of competent
jurisdiction to have resulted from the gross negligence or wilful misconduct of such Indemnitee or any of its Related Parties. 
  
 (c) Any such amounts payable as provided hereunder shall be additional Obligations secured hereby and by the other Security Documents. The provisions of
this Section 7.03 shall remain operative and in full force and effect regardless of the termination of this Agreement or any other Loan Document, the consummation of the transactions contemplated hereby, the repayment of any of the Obligations,
the invalidity or unenforceability of any term or provision of this Agreement or any other Loan Document, or any investigation made by or on behalf of the Collateral Agent or any other Secured Party. All amounts due under this Section 7.03
shall be payable on written demand therefor. 
  
 Section 7.04.
Successors and Assigns. Whenever in this Agreement any of the parties hereto is referred to, such reference shall be deemed to include the permitted successors and assigns of such party; and all covenants, promises and agreements by or on
behalf of any Guarantor, Grantor or the Collateral Agent that are contained in this Agreement shall bind and inure to the benefit of their respective successors and assigns and shall inure to the benefit of the other Secured Parties and their
respective successors and assigns. 
  
 Section 7.05. Survival
of Agreement. All covenants, agreements, representations and warranties made by the Loan Parties in the Loan Documents and in the certificates or other instruments prepared or delivered in connection with or pursuant to this Agreement or any
other Loan Document shall be considered to have been relied upon by the Lenders and shall survive the execution and delivery of the Loan Documents and the making of any Loans and issuance of any Letters of Credit, regardless of any investigation
made by any Lender or on its behalf and notwithstanding that the Administrative Agent, the Collateral Agent, the Issuing Bank or any Lender may have had notice or knowledge of any Default or incorrect representation or warranty at the time any
credit is extended under the Credit Agreement, and shall continue in full force and effect as long as the principal of or any accrued interest on any Loan or any fee or any other amount payable under any Loan Document is outstanding and unpaid or
any Letter of Credit is outstanding and so long as the Commitments have not expired or terminated. 
  
 Section 7.06. Counterparts; Effectiveness; Several Agreement. This Agreement may be executed in counterparts, each of which shall constitute an
original but all of which, when taken together, shall constitute single contract. Delivery of an executed signature page to 
  

 -29- 

 this Agreement by facsimile transmission shall be as effective as delivery of a manually signed counterpart of this
Agreement. This Agreement shall become effective as to any Loan Party when a counterpart hereof executed on behalf of such Loan Party shall have been delivered to the Collateral Agent and a counterpart hereof shall have been executed on behalf of
the Collateral Agent, and thereafter shall be binding upon such Loan Party and the Collateral Agent and their respective permitted successors and assigns, and shall inure to the benefit of such Loan Party, the Administrative Agent, the Collateral
Agent and the other Secured Parties and their respective successors and assigns, except that no Loan Party shall have the right to assign or transfer its rights or obligations hereunder or any interest in this Agreement or in the Collateral (and any
such assignment or transfer shall be void) except as contemplated by this Agreement or the Credit Agreement. This Agreement shall be construed as a separate agreement with respect to each Loan Party and may be amended, modified, supplemented, waived
or released with respect to any Loan Party without the approval of any other Loan Party and without affecting the obligations of any other Loan Party hereunder. 
  

Section 7.07. Severability. Any provision in this Agreement held to be invalid, illegal or unenforceable in any jurisdiction shall, as to such
jurisdiction, be ineffective to the extent of such invalidity, illegality or unenforceability without affecting the validity, legality and enforceability of the remaining provisions hereof; the invalidity of a particular provision in a particular
jurisdiction shall not invalidate such provision in any other jurisdiction. The parties shall endeavor in good-faith negotiations to replace the invalid, illegal or unenforceable provisions with valid provisions the economic effect of which comes as
close as possible to that of the invalid, illegal or unenforceable provisions. 
  
 Section 7.08. Right of Set-Off. If an Event of Default shall have occurred and be continuing, each Lender and each of its Affiliates is hereby authorized at any time and from time to time, to the fullest extent
permitted by law, to set off and apply any and all deposits (general or special, time or demand, provisional or final) at any time held and other obligations at any time owing by such Lender or Affiliate to or for the credit or the account of any
Loan Party against any of and all the obligations of such Loan Party now or hereafter existing under this Agreement owed to such Lender, irrespective of whether or not such Lender shall have made any demand under this Agreement and although such
obligations may be unmatured. The applicable Lender shall notify the Borrower, the Collateral Agent and the Administrative Agent of such set-off or application, provided that any failure to give or any delay in giving such notice shall not
affect the validity of any such set-off or application under this Section 7.08. The rights of each Lender under this Section 7.08 are in addition to other rights and remedies (including other rights of set-off) which such Lender may have.

  
 Section 7.09. Governing Law; Jurisdiction; Consent to
Service of Process. 
  
 (a) This Agreement shall be construed in
accordance with and governed by the law of the State of New York. 
  
 (b) Each of the parties hereto hereby irrevocably and unconditionally submits, for itself and its property, to the nonexclusive jurisdiction of the Supreme Court of the State of New York sitting in New York County and of the United
States District Court of the Southern District of New York, and any appellate court from any thereof, in any action or proceeding arising out of or relating to this Agreement or any other Loan 
  

 -30- 

 Document, or for recognition or enforcement of any judgment, and each of the parties hereto hereby irrevocably and
unconditionally agrees that all claims in respect of any such action or proceeding may be heard and determined in such New York State or, to the extent permitted by law, in such Federal court. Each of the parties hereto agrees that a final
judgment in any such action or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law. Nothing in this Agreement or any other Loan Document shall affect any right that
the Collateral Agent, the Issuing Bank, any Lender or any Loan Party may otherwise have to bring any action or proceeding relating to this Agreement or any other Loan Document in the courts of any jurisdiction. 
  
 (c) Each of the Loan Parties hereby irrevocably and unconditionally waives,
to the fullest extent it may legally and effectively do so, any objection that it may now or hereafter have to the laying of venue of any suit, action or proceeding arising out of or relating to this Agreement or any other Loan Document in any court
referred to in paragraph (b) of this Section 7.09. Each of the parties hereto hereby irrevocably waives, to the fullest extent permitted by law, the defense of an inconvenient forum to the maintenance of such action or proceeding in any
such court. 
  
 (d) Each party to this Agreement irrevocably
consents to service of process in the manner provided for notices in Section 7.01. Nothing in this Agreement or any other Loan Document will affect the right of any party to this Agreement to serve process in any other manner permitted by law.

  
 Section 7.10. WAIVER OF JURY TRIAL. EACH PARTY HERETO
HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT, ANY OTHER LOAN DOCUMENT OR THE TRANSACTIONS
CONTEMPLATED HEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY). EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN
THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS
SECTION 7.10. 
  
 Section 7.11. Headings. Article and
Section headings and the Table of Contents used in this Agreement are for convenience of reference only, are not part of this Agreement and are not to affect the construction of, or to be taken into consideration in interpreting, this Agreement.

  
 Section 7.12. Security Interest Absolute. All rights of
the Collateral Agent hereunder, the Security Interest, the grant of a security interest in the Pledged Collateral and all obligations of each Grantor and Guarantor hereunder shall be absolute and unconditional irrespective of (a) any lack of
validity or enforceability of the Credit Agreement, any other Loan 
  

 -31- 

 Document, any agreement with respect to any of the Obligations or any other agreement or instrument relating to any of
the foregoing, (b) any change in the time, manner or place of payment of, or in any other term of, all or any of the Obligations, or any other amendment or waiver of or any consent to any departure from the Credit Agreement, any other Loan
Document or any other agreement or instrument, (c) any exchange, release or non-perfection of any Lien on other collateral, or any release or amendment or waiver of or consent under or departure from any guarantee, securing or guaranteeing all
or any of the Obligations, or (d) any other circumstance that might otherwise constitute a defense available to, or a discharge of, any Grantor or Guarantor in respect of the Obligations or this Agreement. 
  
 Section 7.13. Termination or Release. (a) This Agreement and the
Guarantees made in this Agreement shall terminate and the Security Interest and all other security interests granted hereby shall be automatically released when all the Loan Document Obligations (other than wholly contingent indemnification
obligations not then due) have been indefeasibly paid in full and the Lenders have no further commitment to lend under the Credit Agreement, the LC Exposure has been reduced to zero and the Issuing Bank has no further obligations to issue Letters of
Credit under the Credit Agreement. 
  
 (b) A Person which was a
Loan Party immediately prior to the consummation of any transaction permitted by the Credit Agreement shall automatically be released from its obligations hereunder and the Security Interest in the Collateral of such Person shall be automatically
released upon the consummation of any transaction permitted by the Credit Agreement as a result of which such Person ceases to be a Loan Party. 
  
 (c) Upon any sale or other transfer by any Grantor of any Collateral that is permitted under the Credit Agreement, or upon the effectiveness of any
written consent to the release of the security interest granted hereby in any Collateral pursuant to Section 9.02 of the Credit Agreement, the security interest in such Collateral shall be automatically released. 
  
 (d) In connection with any termination or release pursuant to
paragraph (a), (b) or (c) of this Section 7.13, the Collateral Agent shall execute and deliver to any Person, at such Person’s expense, all documents that such Person shall reasonably request to evidence such termination or
release of its obligations or the Security Interests in its Collateral. Any execution and delivery of documents pursuant to this Section 7.13 shall be without recourse to or warranty by the Collateral Agent. Without limiting the provisions of
Section 7.03, the Borrower shall reimburse the Collateral Agent upon demand for all reasonable costs and out of pocket expenses, including the reasonable fees, charges and disbursements of counsel, incurred by it in connection with any action
contemplated by this Section 7.13. 
  
 Section 7.14.
Additional Subsidiaries. Pursuant to Section 5.12 of the Credit Agreement, each Subsidiary of a Loan Party (other than a Consolidated Practice) that was not in existence or not a Subsidiary on the date of the Credit Agreement and is not
(x) an Inactive Subsidiary (other than an Inactive Subsidiary that has satisfied the Collateral and Guarantee Requirement) or (y) a Permitted Joint Venture (other than a Permitted Joint Venture Loan Party) is required to enter in this
Agreement as a Subsidiary Loan Party upon becoming such a Subsidiary. Upon execution and delivery by the Collateral Agent and a Subsidiary of an instrument in the form of Exhibit I hereto, such Subsidiary shall become a Subsidiary Loan Party

  

 -32- 

 hereunder with the same force and effect as if originally named as a Subsidiary Loan Party in this Agreement. The
execution and delivery of any such instrument shall not require the consent of any other Loan Party hereunder. The rights and obligations of each Loan Party hereunder shall remain in full force and effect notwithstanding the addition of any new Loan
Party as a party to this Agreement. 
  
 Section 7.15.
Collateral Agent Appointed Attorney-in-Fact. Each Grantor hereby appoints the Collateral Agent the attorney-in-fact of such Grantor for the purpose of carrying out the provisions of this Agreement and taking any action and executing any
instrument that the Collateral Agent may deem necessary or advisable to accomplish the purposes hereof, which appointment is irrevocable and coupled with an interest. Without limiting the generality of the foregoing, the Collateral Agent shall have
the right, upon the occurrence and during the continuation of an Event of Default, with full power of substitution either in the Collateral Agent’s name or in the name of such Grantor(except to the extent such action would be prohibited by
applicable law with respect to Medicare and Medicaid receivables) (a) to receive, endorse, assign and/or deliver any and all notes, acceptances, checks, drafts, money orders or other evidences of payment relating to the Collateral or any part
thereof; (b) to demand, collect, receive payment of, give receipt for and give discharges and releases of all or any of the Collateral; (c) to sign the name of any Grantor on any invoice or bill of lading relating to any of the Collateral;
(d) to send verifications of Accounts Receivable to any Account Debtor; (e) to commence and prosecute any and all suits, actions or proceedings at law or in equity in any court of competent jurisdiction to collect or otherwise realize on
all or any of the Collateral or to enforce any rights in respect of any Collateral; (f) to settle, compromise, compound, adjust or defend any actions, suits or proceedings relating to all or any of the Collateral; (g) to notify, or to
require any Grantor to notify, Account Debtors to make payment directly to the Collateral Agent; and (h) to use, sell, assign, transfer, pledge, make any agreement with respect to or otherwise deal with all or any of the Collateral, and to do
all other acts and things necessary to carry out the purposes of this Agreement, as fully and completely as though the Collateral Agent were the absolute owner of the Collateral for all purposes, provided that nothing in this Agreement
contained shall be construed as requiring or obligating the Collateral Agent to make any commitment or to make any inquiry as to the nature or sufficiency of any payment received by the Collateral Agent, or to present or file any claim or notice, or
to take any action with respect to the Collateral or any part thereof or the moneys due or to become due in respect thereof or any property covered thereby. The Collateral Agent and the other Secured Parties shall be accountable only for amounts
actually received as a result of the exercise of the powers granted to them in this Agreement, and neither they nor their officers, directors, employees or agents shall be responsible to any Grantor for any act or failure to act hereunder, except
for their own gross negligence or wilful misconduct. 
  
 Section
7.16. Further Assurances. Notwithstanding anything to the contrary herein, the parties hereto agree to comply with the requirements set forth in Section 5.13 of the Credit Agreement. 
  
 [Signature Pages to Follow] 
  

 -33- 

 IN WITNESS WHEREOF, the parties hereto have duly executed this Agreement as of the day and year first
above written. 
  

			
	AMERIPATH HOLDINGS INC.,
		
	By:	 	 /s/ David L. Redmond

	Name:	 	David L. Redmond
	Title:	 	Executive Vice President
	
	AMERIPATH, INC.,
		
	By:	 	 /s/ David L. Redmond

	Name:	 	David L. Redmond
	Title:	 	Executive Vice President

  
 Signature Page to
Collateral Agreement 

	
	
	SUBSIDIARIES
	
	 AMERIPATH 5.01(a) CORPORATION
 (a Texas not-for-profit
corporation)

	
	 AMERIPATH CINCINNATI, INC.
 (an Ohio
corporation)

	
	 AMERIPATH CLEVELAND, INC.
 (an Ohio
corporation)

	
	 AMERIPATH CONSOLIDATED LABS, INC.
 (a Florida
corporation)

	
	 AMERIPATH FLORIDA, LLC
 (a Delaware limited liability
company)

	
	 AMERIPATH HOSPITAL SERVICES - FLORIDA, LLC
 (a
Delaware corporation)
  
 AMERIPATH INDIANA, LLC
 (an Indiana limited liability company)

	
	 AMERIPATH KENTUCKY, INC.
 (a Kentucky
corporation)

	
	 AMERIPATH LUBBOCK 5.01(a)
 CORPORATION

(a Texas not-for-profit corporation)

	
	 AMERIPATH MARKETING USA, INC.
 (a Florida
corporation)

	
	 AMERIPATH MICHIGAN, INC.
 (a Michigan
corporation)

	
	 AMERIPATH MISSISSIPPI, INC.
 (a Mississippi
corporation)

	
	 AMERIPATH NEW YORK, LLC
 (a Delaware
corporation)

	
	 AMERIPATH NORTH CAROLINA, INC.
 (a North Carolina
corporation)

	
	 AMERIPATH OHIO, INC.
 (a Delaware
corporation)

	
	 AMERIPATH PAT 5.01(a) CORPORATION
 (a Texas
not-for-profit corporation)

	
	 AMERIPATH PENNSYLVANIA, LLC
 (a Pennsylvania limited
liability company)

	
	 AMERIPATH PHILADELPHIA, INC.
 (a New Jersey
corporation)

  
 Signature Page to
Collateral Agreement 

	
	
	 AMERIPATH SAN ANTONIO 5.01(a) CORPORATION
 (a Texas not-for-profit corporation)

	
	 AMERIPATH SEVERANCE 5.01(a) CORPORATION
 (a Texas
not-for-profit corporation)

	
	 AMERIPATH WISCONSIN, LLC
 (a Wisconsin limited
liability company)

	
	 AMERIPATH YOUNGSTOWN LABS, INC.
 (an Ohio
corporation)

	
	 AMERIPATH YOUNGSTOWN, INC.
 (an Ohio
corporation)

	
	 AMERIPATH, LLC
 (a Delaware limited liability
company)

	
	 ANATOMIC PATHOLOGY SERVICES, INC.
 (an Oklahoma
corporation)

	
	 API NO. 2, LLC
 (a Delaware limited liability
company)

	
	 ARIZONA PATHOLOGY GROUP, INC.
 (an Arizona
corporation)

	
	 ARLINGTON PATHOLOGY ASSOCIATION 5.01(a) CORPORATION
 (a Texas not-for-profit corporation)

	
	 DERMATOPATHOLOGY SERVICES, INC.
 (an Alabama
corporation)

	
	 DFW 5.01(a) CORPORATION
 (a Texas not-for-profit
corporation)

	
	 DIAGNOSTIC PATHOLOGY MANAGEMENT SERVICES, LLC
 (an
Oklahoma limited liability company)

	
	 KAILASH B. SHARMA, M.D., INC.
 (a Georgia
corporation)

	
	 NAPA 5.01(a) CORPORATION
 (a Texas not-for-profit
corporation)

	
	 OCMULGEE MEDICAL PATHOLOGY ASSOCIATION, INC.
 (a
Georgia corporation)

	
	 O’QUINN MEDICAL PATHOLOGY ASSOCIATION, LLC
 (a Georgia limited liability company)

  
 Signature Page to
Collateral Agreement 

	
	
	 PCA OF DENVER, INC.
 (a Tennessee
corporation)

	
	 PCA OF NASHVILLE, INC.
 (a Tennessee
corporation)

	
	 PCA SOUTHEAST II, INC.
 (a Tennessee
corporation)

	
	 PETER G. KLACSMANN, M.D., INC.
 (a Georgia
corporation)

	
	 REGIONAL PATHOLOGY CONSULTANTS, LLC
 (a Utah limited
liability company)

	
	 ROCKY MOUNTAIN PATHOLOGY, L.L.C.
 (a Utah limited
liability company)

	
	 SHARON G. DASPIT, M.D., INC.
 (a Georgia
corporation)

	
	 SHOALS PATHOLOGY ASSOCIATES, INC.
 (an Alabama
corporation)

	
	 SIMPSON PATHOLOGY 5.01(a) CORPORATION
 (a Texas
not-for-profit corporation)

	
	 SPECIALTY LABORATORIES, INC.
 (a California
Corporation)

	
	 STRIGEN, INC.
 (a Utah corporation)

	
	 TID ACQUISITION CORP.
 (a Delaware
corporation)

	
	 TXAR 5.01(a) CORPORATION
 (a Texas not-for-profit
corporation)

  

			
	 By:
	 	 /s/ David L. Redmond

	 Name:
	 	 David L. Redmond

	 Title:
	 	 Vice President

  
 Signature Page to
Collateral Agreement 

			
	 AMERIPATH TEXAS, LP
 (a Delaware limited
partnership)

		
	By:	 	AmeriPath, LLC,
	 	 	its General Partner
		
	By:	 	 /s/ David L. Redmond

	Name:	 	David L. Redmond
	Title:	 	Vice President
	
	 NUCLEAR MEDICINE AND PATHOLOGY ASSOCIATES
 (a
Georgia general partnership)

		
	By:	 	Sharon G. Daspit, M.D.,
	 	 	a General Partner
		
	By:	 	 /s/ David L. Redmond

	Name:	 	David L. Redmond
	Title:	 	Vice President

  
 Signature Page to
Collateral Agreement 

			
	 WACHOVIA BANK, NATIONAL
 ASSOCIATION, AS
COLLATERAL AGENT,

		
	By:	 	 /s/ Scott Santa Cruz

	Name:	 	Scott Santa Cruz
	Title:	 	Director

  
 Signature Page to
Collateral Agreement

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