Document:

Exhibit (10)-y

    
      
        

      

      Exhibit
        (10)-y

      

      
        	 	
                Allen
                  & Overy LLP

              
	 	
                 

                CONFORMED
                  COPY

              
	 	
                 

                AGREEMENT

              
	 	
                 

                 

                 

                 

                Arranged
                  by

                 

                CITIGROUP
                  GLOBAL MARKETS LIMITED

                 

                J.
                  P. MORGAN PLC

                 

                and

                 

                KEYBANC
                  CAPITAL MARKETS

                 

                with

                 

                CITIBANK
                  INTERNATIONAL PLC

                as
                  Facility Agent

                 

                 

                CREDIT
                  FACILITY

                US$375,000,000
                  for

                BAUSCH
                  & LOMB B.V.

              
	 	
                 

                29
                  November 2005

              

      

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

           

        

      

      Contents

      
        	
                Clause

              	 	
                Page

              
	 	 	 
	
                1.

                 

              	
                Interpretation

                 

              	
                1

                 

              
	
                2.

                 

              	
                Facility

                 

              	
                13

                 

              
	
                3.

                 

              	
                Purpose

                 

              	
                15

                 

              
	
                4.

                 

              	
                Conditions
                  Precedent

                 

              	
                15

                 

              
	
                5.

                 

              	
                Utilisation
                  - Loan

                 

              	
                16

                 

              
	
                6.

                 

              	
                Repayment

                 

              	
                17

                 

              
	
                7.

                 

              	
                Prepayment
                  and Cancellation or Assignment

                 

              	
                17

                 

              
	
                8.

                 

              	
                Interest

                 

              	
                20

                 

              
	
                9.

                 

              	
                Interest
                  Periods

                 

              	
                22

                 

              
	
                10.

                 

              	
                Market
                  Disruption

                 

              	
                22

                 

              
	
                11.

                 

              	
                Taxes

                 

              	
                23

                 

              
	
                12.

                 

              	
                Increased
                  Costs

                 

              	
                26

                 

              
	
                13.

                 

              	
                Mitigation

                 

              	
                26

                 

              
	
                14.

                 

              	
                Payments

                 

              	
                27

                 

              
	
                15.

                 

              	
                Guarantee
                  and Indemnity

                 

              	
                29

                 

              
	
                16.

                 

              	
                Representations
                  and Warranties

                 

              	
                32

                 

              
	
                17.

                 

              	
                Positive
                  Covenants

                 

              	
                35

                 

              
	
                18.

                 

              	
                Negative
                  Covenants and Financial Covenants

                 

              	
                38

                 

              
	
                19.

                 

              	
                Default

                 

              	
                41

                 

              
	
                20.

                 

              	
                The
                  Administrative Parties

                 

              	
                45

                 

              
	
                21.

                 

              	
                Evidence
                  and Calculations

                 

              	
                50

                 

              
	
                22.

                 

              	
                Fees

                 

              	
                51

                 

              
	
                23.

                 

              	
                Indemnities
                  and Break Costs

                 

              	
                51

                 

              
	
                24.

                 

              	
                Expenses

                 

              	
                53

                 

              
	
                25.

                 

              	
                Amendments
                  and Waivers

                 

              	
                53

                 

              
	
                26.

                 

              	
                Changes
                  to the Parties

                 

              	
                54

                 

              
	
                27.

                 

              	
                Disclosure
                  of Information

                 

              	
                59

                 

              
	
                28.

                 

              	
                Set-off

                 

              	
                60

                 

              
	
                29.

                 

              	
                Pro
                  Rata Sharing

                 

              	
                60

                 

              
	
                30.

                 

              	
                Severability

                 

              	
                61

                 

              
	
                31.

                 

              	
                Counterparts

                 

              	
                61

                 

              
	
                32.

                 

              	
                Notices

                 

              	
                61

                 

              
	
                33.

                 

              	
                Language

                 

              	
                64

                 

              
	
                34.

                 

              	
                Governing
                  Law

                 

              	
                64

                 

              
	
                35.

                 

              	
                Enforcement

                 

              	
                64

                 

              

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

           

        

      

      

      
        	
                Schedule

                 

              	
                Page

                 

              
	
                1.

                 

              	
                Original
                  Parties

                 

              	
                66

                 

              
	 	
                Part
                  1 Original
                  Lenders and Commitments

                 

              	
                66

                 

              
	 	
                Part
                  2 Mandated
                  Lead Arrangers

                 

              	
                67

                 

              
	
                2.

                 

              	
                Conditions
                  Precedent Documents

                 

              	
                68

                 

              
	
                3.

                 

              	
                Form
                  of Request

                 

              	
                69

                 

              
	
                4.

                 

              	
                Calculation
                  of the Mandatory Cost

                 

              	
                70

                 

              
	
                5.

                 

              	
                Forms
                  of Transfer Certificate

                 

              	
                73

                 

              
	 	
                Part
                  1 Form
                  for Transfers by Assignment

                 

              	
                73

                 

              
	 	
                Part
                  2 Form
                  for Transfers by Novation

                 

              	
                75

                 

              
	
                6.

                 

              	
                Material
                  Subsidiaries

                 

              	
                77

                 

              
	
                7.

                 

              	
                Form
                  of Standing Payment Instructions

                 

              	
                78

                 

              
	 	 	 
	
                Signatories

                 

              	 	
                79

                 

              

      

      

      

       

      	 	 

       

        THIS
        AGREEMENT
        is dated
        29
        November, 2005

       

        BETWEEN:

       

      	(1)  	
              BAUSCH
                & LOMB B.V. (the
                Company);

            

       

      	(2)  	
              BAUSCH
                & LOMB INCORPORATED,
                a
                New York corporation (the Guarantor);

            

       

      	(3)  	
              THE
                FINANCIAL INSTITUTIONS
                listed in Part
                2
                of
                Schedule
                1
                (Mandated Lead Arrangers) as Mandated
                Lead Arrangers;

            

       

      	(4)  	
              THE
                FINANCIAL INSTITUTIONS
                listed in Part 1 of Schedule
                1
                (Original Lenders and Commitments) as Original
                Lenders;

            

       

      	(5)  	
              CITIBANK
                INTERNATIONAL PLC
                as
                facility agent (in this capacity the Facility
                Agent).

            

       

        IT
        IS AGREED
        as
        follows:

       

      	1.  	
              INTERPRETATION

            

       

      	1.1  	
              Definitions

            

       

        In
        this
        Agreement:

       

        Administrative
        Party
        means
a
        Mandated
        Lead Arranger or the Facility Agent.

       

        Affiliate
        means,
        as to any person, any other person that, directly or indirectly, controls,
        is
        controlled by or is under common control with such person or is a director
        or
        officer of such person. For the purposes of this definition, the term
control
        (including the terms controlling,
        controlled
        by
        and
under
        common control with)
        of a
        person means the possession, direct or indirect, of the power to vote 5 per
        cent. or more of the Voting Stock of such person or to direct or cause the
        direction of the management and policies of such person, whether through
        the
        ownership of Voting Stock, by contract or otherwise.

       

        Availability
        Period
        means
        the period from and including the date of this Agreement to and including
        31
        December, 2005.

       

        Bankruptcy
        Code means
        the
        United States Bankruptcy Code 1978 or any other United States Federal or
        State
        bankruptcy, insolvency or similar law.

       

        Break
        Costs
        means
        the amount (if any) which a Lender is entitled to receive under
        Clause 23.3
        (Break
        Costs).

       

        Business
        Day
        means a
        day (other than a Saturday or a Sunday) on which banks are open for general
        business in London and New York.

       

        Commitment
        means:

       

      	(a)  	
              for
                an Original Lender, the amount set opposite its name in Part
                1
                of
                Schedule
                1
                (Original Lenders
                and Commitments)
                under the heading Commitment
                (US$)
                and the amount of any other Commitment it acquires;
                and

            

       

      	(b)  	
              for
                any other Lender, the amount of any Commitment it
                acquires,

            

       

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

       

        Consolidated
        refers
        to the consolidation of accounts in accordance with GAAP.

       

        Debt
        of
        any
        person means, without duplication:

       

      	(a)  	
              all
                indebtedness of such person for borrowed
                money;

            

       

      	(b)  	
              all
                obligations of such person for the deferred purchase price of property
                or
                services (other than trade payables not overdue by more than 60 days
                incurred in the ordinary course of such person's
                business);

            

       

      	(c)  	
              all
                obligations of such person evidenced by notes, bonds, debentures
                or other
                similar instruments;

            

       

      	(d)  	
              all
                obligations of such person created or arising under any conditional
                sale
                or other title retention agreement with respect to property acquired
                by
                such person (even though the rights and remedies of the seller or
                lender
                under such agreement in the event of default are limited to repossession
                or sale of such property);

            

       

      	(e)  	
              all
                obligations of such person as lessee under leases that have been
                or should
                be, in accordance with GAAP, recorded as capital
                leases;

            

       

      	(f)  	
              all
                obligations, contingent or otherwise, of such person in respect of
                acceptances, letters of credit or similar extensions of
                credit;

            

       

      	(g)  	
              all
                net obligations of such person in respect of Hedge
                Agreements;

            

       

      	(h)  	
              all
                Debt of others referred to in (a)
                through (g)
                above
                or
                (i)
                below
                guaranteed directly or indirectly in any manner by such person, or
                in
                effect guaranteed directly or indirectly by such person through an
                agreement: 

            

       

      	(i)  	
              to
                pay or purchase such Debt or to advance or supply funds for the payment
                or
                purchase of such Debt; 

            

       

      	(ii)  	
              to
                purchase, sell or lease (as lessee or lessor) property, or to purchase
                or
                sell services, primarily for the purpose of enabling the debtor to
                make
                payment of such Debt or to assure the holder of such Debt against
                loss;
                

            

       

      	(iii)  	
              to
                supply funds to or in any other manner invest in the debtor (including
                any
                agreement to pay for property or services irrespective of whether
                such
                property is received or such services are rendered), primarily for
                the
                purpose of enabling the debtor to make payment of such Debt or to
                assure
                the holder of such Debt against loss; or 

            

       

      	(iv)  	
              otherwise
                to assure a creditor against loss; and

            

       

      	(i)  	
              all
                Debt referred to in (a)
                through (h)
                above
                secured by (or for which the holder of such Debt has an existing
                right,
                contingent or otherwise, to be secured by) any Security Interest
                on
                property (including, without limitation, accounts and contract rights)
                owned by such person, even though such person has not assumed or
                become
                liable for the payment of such Debt.

            

       

        Debt
        for Borrowed Money of
        any
        person means all items that, in accordance with GAAP, would be classified
        as
        notes payable, long term debt or current portion of long term debt on a
        Consolidated balance sheet of such person.

       

        Default
        means:

       

      	(a)  	
              an
                Event of Default; or

            

       

      	(b)  	
              an
                event or circumstance which would be (with the expiry of a grace
                period,
                the giving of notice or the making of any determination under the
                Finance
                Documents or any combination of them) an Event of
                Default.

            

       

        Dutch
        Banking Act means
        the
        Dutch Act on the Supervision of the Credit System 1992 (Wet toezicht
        Kredietwezen 1992).

       

        Dutch
        Exemption Regulation means
        the
        Exemption Regulation of the Minister of Finance (Vrijstellingsregeling
        WtK 1992).

       

        EBITDA
        means,
        for any period, net income (or net loss) plus, to the extent deducted in
        calculating net income (or net loss) for such period, the sum of:

       

      	(a)  	
              interest
                expense;

            

       

      	(b)  	
              income
                tax expense;

            

       

      	(c)  	
              depreciation
                expense;

            

       

      	(d)  	
              amortisation
                expense;

            

       

      	(e)  	
              other
                non-cash non-recurring charges;

            

       

      	(f)  	
              extraordinary
                losses deducted in calculating net income less extraordinary gains
                added
                in calculating net income; and

            

       

      	(g)  	
              non-cash
                charges associated with expensing of stock
                options,

            

       

        in
        each
        case (unless otherwise specified) determined in accordance with GAAP for
        such
        period.

       

        Environmental
        Action
        means
        any action, suit, demand, demand letter, claim, notice of non-compliance
        or
        violation, notice of liability or potential liability, investigation,
        proceeding, consent order or consent agreement relating in any way to any
        Environmental Law, Environmental Permit or Hazardous Materials or arising
        from
        alleged injury or threat of injury to health, safety or the environment,
        including, without limitation: 

       

      
        	(a)  	
                by
                  any governmental or regulatory authority for enforcement, cleanup,
                  removal, response, remedial or other actions or damages; and
                  

              

      

       

      
        	(b)  	
                
                  by
                    any governmental or regulatory authority or any third party for
                    damages,
                    contribution, indemnification, cost recovery, compensation or
                    injunctive
                    relief.

                

              

      

       

        Environmental
        Law
        means
        any federal, state, local or foreign statute, law, ordinance, rule, regulation,
        code, order, judgment, decree or judicial or agency interpretation, policy
        or
        guidance relating to pollution or protection of the environment, health,
        safety
        or natural resources, including, without limitation, those relating to the
        use,
        handling, transportation, treatment, storage, disposal, release or discharge
        of
        Hazardous Materials.

       

        Environmental
        Permit
        means
        any permit, approval, identification number, licence or other authorisation
        required under any Environmental Law.

       

        ERISA
        means
        the U.S. Employee Retirement Income Security Act of 1974, as amended from
        time
        to time, and the regulations promulgated and rulings issued
        thereunder.

       

        ERISA
        Affiliate
        means
        any person that for purposes of Title IV of ERISA is a member of the
        Guarantor's controlled group, or under common control with the Guarantor,
        within
        the meaning of Section 414 of the U.S. Internal Revenue Code.

       

        ERISA
        Event means:

       

      
        	(a)  	(i)    the
                occurrence
                of a reportable event, within the meaning of Section 4043 of ERISA,
                with respect to any Plan unless the 30-day notice requirement with
                respect
                to such event has been waived by the PBGC;
                or

      

       

      
        	 	
                (ii)    the
                  requirements of subsection (1) of Section 4043(b) of ERISA (without
                  regard
                  to subsection (2) of such Section) are met with respect to a contributing
                  sponsor, as defined in Section 4001(a)(13) of ERISA, of a Plan,
                  and an
                  event described in paragraph (9), (10), (11), (12) or (13) of Section
                  4043(c) of ERISA is reasonably expected to occur with respect to
                  such Plan
                  within the following 30
                  days;

              

      

       

      	(b)  	
              the
                application for a minimum funding waiver with respect to a
                Plan;

            

       

      	(c)  	
              the
                provision by the administrator of any Plan of a notice of intent
                to
                terminate such Plan pursuant to Section 4041(a)(2) of ERISA
                (including any such notice with respect to a plan amendment referred
                to in
                Section 4041(e) of ERISA);

            

       

      	(d)  	
              the
                cessation of operations at a facility of the Guarantor or any ERISA
                Affiliate in the circumstances described in Section 4062(e) of
                ERISA;

            

       

      	(e)  	
              the
                withdrawal by the Guarantor or any ERISA Affiliate from a Multiple
                Employer Plan during a plan year for which it was a substantial employer,
                as defined in Section 4001(a)(2) of
                ERISA;

            

       

      	(f)  	
              the
                conditions for the imposition of a lien under Section 302(f) of ERISA
                shall have been met with respect to any
                Plan;

            

       

      	(g)  	
              the
                adoption of an amendment to a Plan requiring the provision of security
                to
                such Plan pursuant to Section 307 of ERISA;
                or

            

       

      	(h)  	
              the
                institution by the PBGC of proceedings to terminate a Plan pursuant
                to
                Section 4042 of ERISA, or the occurrence of any event or condition
                described in Section 4042 of ERISA that constitutes grounds for the
                termination of, or the appointment of a trustee to administer, a
                Plan.

            

       

        Event
        of Default
        means an
        event specified as such in Clause 19
        (Default).

       

        Existing
        Guarantor Credit Agreement means
        the
        US$400,000,000 credit agreement dated 26 July, 2005 between, among others,
        the
        Guarantor as borrower and Citibank, N.A. as administrative agent, including
        any
        extensions, renewals, amendments or modifications executed from time to
        time.

       

        Facility
        means
        the credit facility made available under this Agreement.

       

        Facility
        Office
        means
        the office(s) notified by a Lender to the Facility Agent:

       

      	(a)  	
              on
                or before the date it becomes a Lender;
                or

            

       

      	(b)  	
              by
                not less than five Business Days' notice,

            

       

        as
        the
        office(s) through which it will perform its obligations under this
        Agreement.

       

        Fee
        Letter
        means
        any letter entered into by reference to this Agreement between one or more
        Administrative Parties and the Company setting out the amount of certain
        fees
        referred to in this Agreement.

       

        Final
        Maturity Date
        means
the
        fifth
        anniversary of the Utilisation Date subject to any extension in accordance
        with
        Clause 2.3
        (Extension
        Option).

       

        Finance
        Document
        means:

       

      	(a)  	
              this
                Agreement;

            

       

      	(b)  	
              a
                Fee Letter;

            

       

      	(c)  	
              a
                Transfer Certificate; or

            

       

      	(d)  	
              any
                other document designated as such by the Facility Agent, the Company
                and
                the Guarantor.

            

       

        Finance
        Party
        means a
        Lender or an Administrative Party.

       

        Fitch
        means
        Fitch Ratings or any successor to its rating business.

       

        GAAP
        means
        generally accepted accounting principles consistent with those applied in
        the
        preparation of the Consolidated balance sheet of the Guarantor and its
        Subsidiaries as at 25 December, 2004, and the related Consolidated statements
        of
        income and cash flows of the Guarantor and its Subsidiaries for the fiscal
        year
        then ended and the Consolidated balance sheet of the Guarantor and its
        Subsidiaries as at 25 June, 2005 and the related Consolidated statements
        of
        income and cash flows of the Guarantor and its Subsidiaries for the six months
        then ended.

       

        Group
        means
        the
        Guarantor and its Subsidiaries.

       

        Hazardous
        Materials means:

       

      	(a)  	
              petroleum
                and petroleum products, byproducts or breakdown products, radioactive
                materials, asbestos-containing materials, polychlorinated biphenyls
                and
                radon gas; and

            

       

      	(b)  	
              any
                other chemicals, materials or substances designated, classified or
                regulated as hazardous or toxic or as a pollutant or contaminant
                under any
                Environmental Law.

            

       

        Hedge
        Agreements
        means
        interest rate swap, cap or collar agreements, interest rate future or option
        contracts, currency swap agreements, currency future or option contracts
        and
        other similar agreements.

       

        Increased
        Cost
        means:

       

      	(a)  	
              an
                additional or increased cost;

            

       

      	(b)  	
              a
                reduction in the rate of return from a Facility or on a Finance Party's
                overall capital; or

            

       

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

            

       

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

       

        Information
        Memorandum means
        the
        information memorandum prepared on behalf of, and approved by, the Company
        and
        the Guarantor in connection with this Agreement.

       

        Interest
        Period
        means
        each six-month period determined under this Agreement by reference to which
        interest on the Loan is calculated or such other period as the Facility Agent
        may select in accordance with this Agreement in respect of calculating interest
        on an overdue amount. 

       

        Legal
        Reservations means:

       

      	(a)  	
              the
                principle that equitable remedies may be granted or refused at the
                discretion of a court and the limitation of enforcement by laws relating
                to insolvency, reorganisation and other laws generally affecting
                the
                rights of creditors;

            

       

      	(b)  	
              the
                time barring of claims under the Limitation Acts or any equivalent
                legislation in other countries and defences of set-off or counterclaim;
                

            

       

      	(c)  	
              similar
                principles, rights and defences under the laws of any Relevant
                Jurisdiction; and

            

       

      	(d)  	
              any
                other general principles which are set out as qualifications as to
                matters
                of law in the legal opinions delivered to the Facility Agent in respect
                of
                any of the Finance Documents.

            

       

        Lender
        means:

       

      	(a)  	
              an
                Original Lender; or

            

       

      	(b)  	
              any
                person which becomes a Lender after the date of this
                Agreement.

            

       

        LIBOR
        means
        for an Interest Period of the Loan or overdue amount:

       

      	(a)  	
              the
                applicable Screen Rate; or

            

       

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

            

       

        as
        of
        11.00 a.m. on the Rate Fixing Day for the offering of deposits in the currency
        of the Loan or overdue amount for a period comparable to that Interest
        Period.

       

        Loan
        means,
        unless otherwise stated in this Agreement, the principal amount of the borrowing
        made or to be made under this Agreement or the principal amount outstanding
        for
        the time being of that borrowing.

       

        Majority
        Lenders
        means,
        at any time, Lenders:

       

      	(a)  	
              whose
                share in the outstanding Loans and whose undrawn Commitments then
                aggregate more than 50 per cent. of the aggregate of all the outstanding
                Loans and the undrawn Commitments of all the
                Lenders;

            

       

      	(b)  	
              if
                there is no Loan then outstanding, whose undrawn Commitments then
                aggregate more than 50 per cent. of the Total Commitments;
                or

            

       

      	(c)  	
              if
                there is no Loan then outstanding and the Total Commitments have
                been
                reduced to zero, whose Commitments aggregated more than 50 per cent.
                of
                the Total Commitments immediately before the
                reduction.

            

       

        Mandatory
        Cost
        means
        the percentage rate per annum calculated by the Facility Agent in accordance
        with Schedule
        4
        (Calculation
        of the Mandatory Cost).

       

        Margin
        means
        the
        rate
per
        annum
        calculated in accordance with Clause 8.3
        (Margin).

       

        Material
        Adverse Change
        means
        any material adverse change in the business, condition (financial or otherwise),
        operations, performance, properties or prospects of the Guarantor or the
        Group
        as a whole.

       

        Material
        Adverse Effect
        means a
        material adverse effect on:

       

      	(a)  	
              the
                business, condition (financial or otherwise), operations, performance,
                properties or prospects of the Guarantor or the Group as a
                whole;

            

       

      	(b)  	
              the
                ability of any Obligor to perform its obligations under this Agreement
                or
                a Fee Letter;

            

       

      	(c)  	
              the
                validity or enforceability of this Agreement or a Fee Letter;
                or

            

       

      	(d)  	
              any
                right or remedy of a Finance Party in respect of this Agreement or
                a Fee
                Letter.

            

       

        Material
        Subsidiary
        means,
        at any time, the Company and a Subsidiary of the Guarantor having:

       

      	(a)  	
              assets
                (excluding inter-company receivables) with a value that exceeds 5
                per
                cent. of the value of total assets shown on the Consolidated statement
                of
                financial condition of the Group; or

            

       

      	(b)  	
              net
                sales that exceed 5 per cent. of the Consolidated net sales of the
                Group,
                

            

       

        in
        each
        case as of the end of the most recently completed fiscal quarter of the
        Guarantor for which audited financial statements are available.

       

        If
        there
        is a dispute as to whether or not a member of the Group is a Material
        Subsidiary, a certificate of the auditors of the Guarantor will be, in the
        absence of manifest error, conclusive.

       

        Moody's
        means
        Moody's Investors Service, Inc. or any successor to its rating
        business.

       

        Multiemployer
        Plan
        means a
        multiemployer plan, as defined in Section 4001(a)(3) of ERISA, to which the
        Guarantor or any ERISA Affiliate is making or accruing an obligation to make
        contributions, or has within any of the preceding five plan years made or
        accrued an obligation to make contributions.

       

        Multiple
        Employer Plan
        means a
        single employer plan, as defined in Section 4001(a)(15) of ERISA,
        that:

       

      	(a)  	
              is
                maintained for employees of the Guarantor or any ERISA Affiliate
                and at
                least one person other than the Guarantor and the ERISA Affiliates;
                or
                

            

       

      	(b)  	
              was
                so maintained and in respect of which the Guarantor or any ERISA
                Affiliate
                could have liability under Section 4064 or 4069 of ERISA in the event
                such plan has been or were to be
                terminated.

            

       

        Obligor
        means
        the
        Company or the Guarantor.

       

        Original
        Financial Statements
        means
        the audited consolidated financial statements of the Guarantor for the year
        ended 25
        December, 2004.

       

        Participating
        Member State
        means a
        member state of the European Communities that adopts or has adopted the euro
        as
        its lawful currency under the legislation of the European Community for Economic
        Monetary Union.

       

        Party
        means
        a
        party to this Agreement.

       

        Patriot
        Act
        means
        the U.S. Uniting and Strengthening America by Providing Appropriate Tools
        Required to Intercept and Obstruct Terrorism Act of 2001, Pub. L. 107-56,
        signed
        into law 26 October, 2001.

       

        PBGC
        means
        the Pension Benefit Guaranty Corporation (or any successor).

       

        Permitted
        Security Interests
        means
        such of the following as to which no enforcement, collection, execution,
        levy or
        foreclosure proceeding shall have been commenced or as to which are not being
        contested by appropriate proceedings with appropriate reserves:

       

      	(a)  	
              Security
                Interests for taxes, assessments and governmental charges or levies
                to the
                extent not required to be paid under Clause 17.3
                (Payment
                of taxes)
                hereof;

            

       

      	(b)  	
              Security
                Interests imposed by law, such as materialmen's, mechanics', carriers',
                workmen's and repairmen's Security Interests and other similar Security
                Interests arising in the ordinary course of business securing obligations
                that are not overdue for a period of more than 30
                days;

            

       

      	(c)  	
              pledges
                or deposits to secure obligations under workers' compensation laws
                or
                similar legislation or to secure public or statutory obligations
                or bids
                or tenders or surety, appeal or performance bonds in the ordinary
                course
                of business; 

            

       

      	(d)  	
              easements,
                rights of way and other encumbrances on title to real property that
                do not
                render title to the property encumbered thereby unmarketable or materially
                adversely affect the use of such property for its present purposes;
                and

            

       

      	(e)  	
              any
                interests arising under clause 18
                of
                the general terms and conditions (Algemene
                Voorwaarden)
                of any member of the Dutch Bankers’ Association (Nederlandse
                Vereniging van Banken)
                or any similar term applied by a financial institution in the Netherlands
                pursuant to its general conditions.

            

       

        Plan
        means a
        Single Employer Plan or a Multiple Employer Plan.

       

        Professional
        Market Party
        means a
        professional market party (professionele
        marktpartij)
        under
        the Dutch Exemption Regulation.

       

        Pro
        Rata Share
        means:

       

      	(a)  	
              for
                the purpose of determining a Lender's share in the utilisation of
                the
                Facility, the proportion which its Commitment bears to the Total
                Commitments; and

            

       

      	(b)  	
              for
                any other purpose on a particular date:

            

       

      	(i)  	
              the
                proportion which a Lender's share of the Loan bears to all of the
                Loan;

            

       

      	(ii)  	
              if
                there is no Loan outstanding on that date, the proportion which its
                Commitment bears to the Total Commitments on that date;
                or

            

       

      	(iii)  	
              if
                the Total Commitments have been cancelled, the proportion which its
                Commitment bore to the Total Commitments immediately before being
                cancelled.

            

       

        Rate
        Fixing Day
        means
        the second Business Day before the first day of an Interest Period or such
        other
        day as is generally treated as the rate fixing day by market practice in
        the
        relevant interbank market.

       

        Rating
        Agency means
        Fitch, Moody's, S&P or any other rating agency approved by the Majority
        Lenders, the Company and the Guarantor.

       

        Reference
        Banks
        means
        the Facility Agent, J.P. Morgan plc and KeyBanc Capital Markets and any other
        bank or financial institution appointed as such by the Facility Agent under
        this
        Agreement.

       

        Relevant
        Jurisdiction
        means,
        in relation to an Obligor:

       

      	(a)  	
              its
                jurisdiction of incorporation; or

            

       

      	(b)  	
              any
                jurisdiction where it conducts its
                business.

            

       

        Repeating
        Representations
        means at
        any time the representations and warranties which are then made or deemed
        to be
        repeated under Clause 16.17
        (Times
        for
        making representations and warranties).

       

        Request
        means a
        request for the Loan, substantially in the form of Schedule
        3
        (Form
        of
        Request).

       

        S&P
        means
        Standard & Poor's Rating Services, a division of The McGraw-Hill Companies,
        Inc. or any successor to its rating business.

       

        Screen
        Rate
        means
        the British Bankers Association Interest Settlement Rate for the relevant
        currency and Interest Period displayed on the appropriate page of the Telerate
        screen. If the relevant page is replaced or the service ceases to be available,
        the Facility Agent (after consultation with the Company, the Guarantor and
        the
        Lenders) may specify another page or service displaying the appropriate
        rate.

       

        SEC
        means
        the
        U.S. Securities and Exchange Commission, or any governmental authority
succeeding to any of its principal functions.

       

        Security
        Interest
        means
        any mortgage, pledge, lien, charge, assignment, hypothecation, encumbrance
        or
        security interest or any other agreement or arrangement having a similar
        effect,
        including without limitation, the lien or retained security title of a
        conditional vendor but does not include, for the avoidance of doubt, any
        netting
        or set-off arrangement entered into by any member of the Group in the ordinary
        course of its banking arrangements for the purpose of netting debit and credit
        balances. 

       

        Single
        Employer Plan
        means a
        single employer plan, as defined in Section 4001(a)(15) of ERISA, that:

       

      	(a)  	
              is
                maintained for employees of the Guarantor or any ERISA Affiliate
                and no
                person other than the Guarantor and the ERISA Affiliates; or
                

            

       

      	(b)  	
              was
                so maintained and in respect of which the Guarantor or any ERISA
                Affiliate
                could have liability under Section 4069 of ERISA in the event such
                plan has been or were to be terminated.

            

       

        Subsidiary
        of any
        person means any corporation, partnership, joint venture, limited liability
        company, trust or estate of which (or in which) more than 50 per cent.
        of:

       

      	(a)  	
              the
                issued and outstanding capital stock having ordinary voting power
                to elect
                a majority of the board of directors of such corporation (irrespective
                of
                whether at the time capital stock of any other class or classes of
                such
                corporation shall or might have voting power upon the occurrence
                of any
                contingency);

            

       

      	(b)  	
              the
                interest in the capital or profits of such limited liability company,
                partnership or joint venture; or

            

       

      	(c)  	
              the
                beneficial interest in such trust or estate,

            

       

        is
        at the
        time directly or indirectly owned or controlled by such person, by such person
        and one or more of its other Subsidiaries or by one or more of such person's
        other Subsidiaries.

       

        Tax
        means
        any tax, levy, impost, duty or other charge or withholding of a similar nature
        (including any related penalty or interest).

       

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

       

        Tax
        Payment
        means a
        payment made by an Obligor to a Finance Party in any way relating to a Tax
        Deduction or under any indemnity given by that Obligor in respect of Tax
        under
        any Finance Document.

       

        Total
        Commitments
        means
        the aggregate of the Commitments of all the Lenders.

       

        Transfer
        Certificate
        means:

       

      	(a)  	
              for
                a transfer by assignment, a certificate, substantially in the form
                of
                Part
                1
                of
                Schedule
                5
                (Forms
                of Transfer Certificate);
                and

            

       

      	(b)  	
              for
                a transfer by novation, a certificate, substantially in the form
                of
                Part
                2
                of
                Schedule
                5
                (Forms
                of Transfer Certificate),

            

       

        in
        each
        case with such amendments as the Facility Agent may approve or reasonably
        require or any other form agreed between the Facility Agent, the Company
        and the
        Guarantor.

       

        U.K.
        means
        the United Kingdom.

       

        U.S.
        means
        the
        United States of America.

       

        US$
        means
        the
        lawful currency for the time being of the United States of America.

       

        Utilisation
        Date
        means
        the date on which the Facility is utilised and funds are advanced to the
        Company
        in accordance with the provisions of this Agreement.

       

        Voting
        Stock
        means
        capital stock issued by a corporation, or equivalent interests in any other
        person, the holders of which are ordinarily, in the absence of contingencies,
        entitled to vote for the election of directors (or persons performing similar
        functions) of such person, even if the right so to vote has been suspended
        by
        the happening of such a contingency.

       

      	1.2  	
              Construction

            

       

      	(a)  	
              In
                this Agreement, unless the contrary intention appears, a reference
                to:

            

       

      	(i)  	
              an
                amendment
                includes a supplement, novation, restatement or re-enactment and
                amended
                will be construed accordingly;

            

       

      	(ii)  	
              assets
                includes present and future properties, revenues and rights of every
                description;

            

       

      	(iii)  	
              an
                authorisation
                includes an authorisation, consent, approval, resolution, licence,
                exemption, filing, registration or
                notarisation;

            

       

      	(iv)  	
              disposal
                means a sale, transfer, grant, lease or other disposal, whether voluntary
                or involuntary, and dispose
                will be construed accordingly;

            

       

      	(v)  	
              indebtedness
                includes any obligation (whether incurred as principal or as surety)
                for
                the payment or repayment of money;

            

       

      	(vi)  	
              know
                your customer requirements
                are the identification checks that a Finance Party requests in order
                to
                meet its obligations under any applicable law or regulation to identify
                a
                person who is (or is to become) its
                customer;

            

       

      	(vii)  	
              an
                assignment or transfer by a Lender of its rights and obligations
                under
                this Agreement at
                par
                means an assignment or transfer of the principal amounts of a Lender's
                share in the Loan at par plus all other amounts accrued and/or owing
                under
                any Finance Document;

            

       

      	(viii)  	
              a
                person
                includes any individual, company, corporation, unincorporated association
                or body (including a partnership, trust, joint venture or consortium),
                government, state, agency, organisation or other entity whether or
                not
                having separate legal personality;

            

       

      	(ix)  	
              a
                regulation
                includes any regulation, rule, official directive, request or guideline
                (whether or not having the force of law but, if not having the force
                of
                law, being of a type with which any person to which it applies is
                accustomed to comply) of any governmental, inter-governmental or
                supranational body, agency, department or regulatory, self-regulatory
                or
                other authority or organisation;

            

       

      	(x)  	
              a
                currency is a reference to the lawful currency for the time being
                of the
                relevant country;

            

       

      	(xi)  	
              a
                Default being outstanding
                or
                continuing
                means
                that it has not been remedied or waived;

            

       

      	(xii)  	
              a
                provision of law is a reference to that provision as extended, applied,
                amended or re-enacted and includes any subordinate
                legislation;

            

       

      	(xiii)  	
              a
                Clause, a Subclause or a Schedule is a reference to a clause or subclause
                of, or a schedule to, this Agreement;

            

       

      	(xiv)  	
              a
                Party or any other person includes its successors in title, permitted
                assigns and permitted transferees;

            

       

      	(xv)  	
              a
                Finance Document or other document includes (without prejudice to
                any
                prohibition on amendments) all amendments however fundamental to
                that
                Finance Document or other document, including any amendment providing
                for
                any increase in the amount of a facility or any additional facility;
                and

            

       

      	(xvi)  	
              a
                time of day is a reference to London
                time.

            

       

      	(b)  	
              Unless
                the contrary intention appears, a reference to a month
                or
                months
                is
                a reference to a period starting on one day in a calendar month and
                ending
                on the numerically corresponding day in the next calendar month or
                the
                calendar month in which it is to end, except
                that:

            

       

      	(i)  	
              if
                the numerically corresponding day is not a Business Day, the period
                will
                end on the next Business Day in that month (if there is one) or the
                preceding Business Day (if there is not);

            

       

      	(ii)  	
              if
                there is no numerically corresponding day in that month, that period
                will
                end on the last Business Day in that month;
                and

            

       

      	(iii)  	
              notwithstanding
                subparagraph (i)
                above,
                a
                period which commences on the last Business Day of a month will end
                on the
                last Business Day in the next month or the calendar month in which
                it is
                to end, as appropriate.

            

       

      	(c)  	
              Unless
                expressly provided to the contrary in a Finance Document, a person
                who is
                not a party to a Finance Document may not enforce any of its terms
                under
                the Contracts (Rights of Third Parties) Act 1999 and, notwithstanding
                any
                term of any Finance Document, no consent of any third party is required
                for any amendment (including any release or compromise of any liability)
                or termination of any Finance Document.

            

       

      	(d)  	
              Unless
                the contrary intention appears:

            

       

      	(i)  	
              a
                reference to a Party will not include that Party if it has ceased
                to be a
                Party under this Agreement;

            

       

      	(ii)  	
              a
                word or expression used in any other Finance Document or in any notice
                given in connection with any Finance Document has the same meaning
                in that
                Finance Document or notice as in this Agreement;
                and

            

       

      	(iii)  	
              any
                obligation of an Obligor under the Finance Documents which is not
                a
                payment obligation remains in force for so long as any payment obligation
                of an Obligor is or may be outstanding under the Finance
                Documents.

            

       

      	(e)  	
              The
                headings in this Agreement do not affect its
                interpretation.

            

       

      	1.3  	
              Dutch
                terms

            

       

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

       

      	(a)  	
              duly
                authorised by all necessary corporate action
                where applicable, includes without
                limitation:

            

       

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

            

       

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

            

       

      	(b)  	
              a
                security interest
                includes any mortgage (hypotheek),
                pledge (pandrecht),
                retention of title arrangement (eigendomsvoorbehoud),
                privilege (voorrecht),
                right of retention (recht
                van retentie),
                right to reclaim goods (recht
                van reclame),
                and, in general, any right in
                rem
                (beperkt
                recht),
                created for the purpose of granting security (goederenrechtelijk
                zekerheidsrecht);
                

            

       

      	(c)  	
              (i)a
                winding-up
                or
                dissolution
                (and any of those terms) includes a Dutch entity being declared bankrupt
                (failliet
                verklaard)
                or dissolved (ontbonden);

            

       

      	(ii)  	
              any
                procedure
                taken in connection with insolvency proceedings includes a Dutch
                entity
                having filed a notice under section 36 of the Tax Collection Act
                of the
                Netherlands (Invorderingswet
                1990)
                or Section 16d of the Social Insurance Co-ordination Act of the
                Netherlands (Coördinatiewet
                Sociale Verzekeringen);
                and

            

       

      	(iii)  	
              a
                trustee
                in
                connection with insolvency proceedings includes a curator.

            

       

      	2.  	
              FACILITY

            

       

      	2.1  	
              Facility

            

       

        Subject
        to the terms of this Agreement, the Lenders make available to the Company
        a term
        loan facility in an aggregate amount equal to the Total
        Commitments.

       

      	2.2  	
              Nature
                of a Finance Party's rights and
                obligations

            

       

        Unless
        all the Finance Parties agree otherwise:

       

      	(a)  	
              the
                obligations of a Finance Party under the Finance Documents are
                several;

            

       

      	(b)  	
              failure
                by a Finance Party to perform its obligations does not affect the
                obligations of any other Party under the Finance
                Documents;

            

       

      	(c)  	
              no
                Finance Party is responsible for the obligations of any other Finance
                Party under the Finance Documents;

            

       

      	(d)  	
              the
                rights of a Finance Party under the Finance Documents are separate
                and
                independent rights;

            

       

      	(e)  	
              a
                Finance Party may, except as otherwise stated in the Finance Documents,
                separately enforce those rights; and

            

       

      	(f)  	
              a
                debt arising under the Finance Documents to a Finance Party is a
                separate
                and independent debt.

            

       

      	2.3  	
              Extension
                Option

            

       

      	(a)  	
              The
                Company may request that the Final Maturity Date be extended for
                a further
                period (the Relevant
                Period)
                from the then current Final Maturity Date by giving notice to the
                Facility
                Agent no more than 120 days nor less than 45 days before each of
                the first
                anniversary (the First
                Extension Request)
                and the second anniversary (the Second
                Extension Request)
                of the Utilisation Date.

            

       

      	(b)  	
              The
                Relevant Period will be:

            

       

      	(i)  	
              in
                the case of the First Extension Request, 364 days;
                and

            

       

      	(ii)  	
              in
                the case of the Second Extension Request:

            

       

      	(A)  	
              if
                the First Extension Request was made, then in respect of the Lenders
                who
                agreed to the First Extension Request, 364 days; and in respect of
                the
                Lenders who did not agree to the First Extension Request, 728 days;
                or

            

       

      	(B)  	
              if
                the First Extension Request was not made, 364 days or 728 days, at
                the
                option of the Company and as indicated in the Second Extension
                Request.

            

       

      	(c)  	
              Each
                Lender participating in the Facility shall notify the Facility Agent
                within 30 days after receiving the First Extension Request (or Second
                Extension Request, as the case may be) from the Company but in no
                event
                later than 10 days prior to the relevant anniversary of the Utilisation
                Date whether or not it agrees to the then current Final Maturity
                Date
                being extended for the Relevant Period. No Lender is under any obligation
                to extend the then current Final Maturity Date. If, by the date falling
                10
                days prior to the relevant anniversary of the Utilisation Date, no
                notice
                is received by the Facility Agent from a Lender which has confirmed
                receipt of the First Extension Request or Second Extension Request
                (as
                applicable) no less than 20 days prior to the relevant anniversary
                of the
                Utilisation Date, the then current Final Maturity Date shall automatically
                be extended for the Relevant Period with regard to such
                Lender.

            

       

      	(d)  	
              As
                soon as practicable after it establishes which of the relevant Lenders,
                if
                any, agree to extend the then current Final Maturity Date for the
                Relevant
                Period, the Facility Agent shall, by notice to the Company, the Guarantor
                and each Lender, confirm those Lenders which have agreed to extend
                the
                then current Final Maturity Date for the Relevant Period (each an
                Extending
                Lender),
                whereupon such extension shall become effective with regard to those
                Extending Lenders.

            

       

      	(e)  	
              At
                any time prior to the then current Final Maturity Date, the Company
                and/or
                the Guarantor will have the option to identify a Lender that is willing
                to
                accept an assignment or transfer of the rights and obligations under
                this
                Agreement from a Lender who does not agree to extend the Final Maturity
                Date, in which event, and at such time, the Lender who does not agree
                (or
                has not confirmed receipt of the First Extension Request or Second
                Extension Request (as applicable) pursuant to paragraph (c)
                above)
                to extend the Final Maturity Date shall assign or transfer its rights
                and
                obligations under this Agreement to the other Lender at
                par.

            

       

      	(f)  	
              Subject
                to (e)
                above,
                the share in the Loan of any Lender who does not agree to extend
                the Final
                Maturity Date applicable to it for the Relevant Period together with
                any
                other sums owed to any such Lender under this Agreement shall be
                repaid in
                full on or prior to the Final Maturity Date applicable to that
                Lender.

            

       

      	(g)  	
              No
                more than two requests for an extension under this Clause may be
                given,
                and any such request is irrevocable.

            

       

      	(h)  	
              For
                the avoidance of doubt, the Final Maturity Date cannot be after the
                seventh anniversary of the Utilisation
                Date.

            

       

      	3.  	
              PURPOSE

            

       

      	3.1  	
              Loans

            

       

        The
        Loan
        may only be used for the general
        corporate purposes of the Company, including, but not limited to, payment
        of
        dividends.

       

      	3.2  	
              No
                obligation to monitor

            

       

        No
        Finance Party is bound to monitor or verify the utilisation of the
        Facility.

       

      	4.  	
              CONDITIONS
                PRECEDENT

            

       

      	4.1  	
              Conditions
                precedent documents

            

       

        A
        Request
        may not be given until the Facility Agent has notified the Company and the
        Lenders that it has received all of the documents and evidence set out in
        Schedule
        2
        (Conditions
        Precedent Documents)
        in form
        and substance satisfactory to the Facility Agent. The Facility Agent must
        give
        this notification to the Company and the Lenders promptly upon being so
        satisfied.

       

      	4.2  	
              Further
                conditions precedent

            

       

        The
        obligations of each Lender to participate in the Loan are subject to the
        further
        conditions precedent that on both the date of the Request and the Utilisation
        Date for the Loan:

       

      	(a)  	
              the
                Repeating Representations are correct in all material respects;
                and

            

       

      	(b)  	
              no
                Default is outstanding or would result from the
                Loan.

            

       

      	4.3  	
              Maximum
                number

            

       

        Unless
        the Facility Agent agrees, a Request may not be given if, as a result, there
        would be more than 1
        Loan
        outstanding.

       

      	5.  	
              UTILISATION
                - LOAN

            

       

      	5.1  	
              Giving
                of Requests

            

       

      	(a)  	
              The
                Company may borrow the Loan by giving to the Facility Agent a duly
                completed Request.

            

       

      	(b)  	
              Unless
                the Facility Agent otherwise agrees, the latest time for receipt
                by the
                Facility Agent of the duly completed Request is 11.00 a.m. (London
                time)
                three Business Days before the proposed Utilisation
                Date.

            

       

      	(c)  	
              The
                Request is irrevocable.

            

       

      	5.2  	
              Completion
                of Requests

            

       

        The
        Request for the Loan will not be regarded as having been duly completed
        unless:

       

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

            

       

      	(b)  	
              the
                amount of the Loan requested is:

            

       

      	(i)  	
              a
                minimum of US$5,000,000
                and an integral multiple of US$1,000,000;

            

       

      	(ii)  	
              equal
                to or less than the Total Commitments; or

            

       

      	(iii)  	
              such
                other amount as the Facility Agent may agree;
                and

            

       

      	(c)  	
              the
                proposed Interest Period complies with this
                Agreement.

            

       

        Only
        one
        Loan may be requested in a Request and is available under this
        Facility.

       

      	5.3  	
              Advance
                of Loan

            

       

      	(a)  	
              The
                Facility Agent must promptly notify each Lender of the details of
                the
                requested Loan and the amount of its share in the
                Loan.

            

       

      	(b)  	
              The
                amount of each Lender’s share of the Loan will be its Pro Rata Share on
                the proposed Utilisation Date.

            

       

      	(c)  	
              No
                Lender is obliged to participate in the Loan if, as a
                result:

            

       

      	(i)  	
              its
                share in the Loan would exceed its Commitment;
                or

            

       

      	(ii)  	
              the
                Loan would exceed the Total Commitments.

            

       

      	(d)  	
              If
                the conditions set out in this Agreement have been met, each Lender
                must
                make its share in the Loan available to the Facility Agent for the
                Company
                through its Facility Office on the Utilisation
                Date.

            

       

      	6.  	
              REPAYMENT

            

       

        The
        Company must repay each Lender's share in the Loan in full on or before
the
        Final
        Maturity Date applicable to it.

       

      	7.  	
              PREPAYMENT
                AND CANCELLATION
                OR ASSIGNMENT

            

       

      	7.1  	
              Mandatory
                prepayment or
                assignment - illegality

            

       

      	(a)  	
              A
                Lender must notify the Facility Agent, the Company and the Guarantor
                promptly if it becomes aware that it is unlawful in any applicable
                jurisdiction for that Lender to perform any of its obligations under
                a
                Finance Document or to fund or maintain its share in the
                Loan.

            

       

      	(b)  	
              After
                notification under paragraph (a)
                above
                the Facility Agent must notify the Company and the Guarantor and,
                subject
                to paragraph (d)
                below:

            

       

      	(i)  	
              the
                Company must repay or prepay the share of that Lender in the Loan
                on the
                date specified in paragraph (c)
                below;
                and

            

       

      	(ii)  	
              the
                Commitment of that Lender will be immediately
                cancelled.

            

       

      	(c)  	
              The
                date for repayment or prepayment of a Lender's share in the Loan
                will
                be:

            

       

      	(i)  	
              the
                last day of the current Interest Period of the Loan;
                or

            

       

      	(ii)  	
              if
                earlier, the date specified by the Lender in the notification under
                paragraph (a)
                above
                and which must not be earlier than the last day of any applicable
                grace
                period allowed by law.

            

       

      	(d)  	
              At
                any time prior to the date for repayment or prepayment specified
                in
                paragraph (c)
                above,
                the Company and/or the Guarantor will have the option to identify
                a Lender
                that is willing to accept an assignment or transfer of the rights
                and
                obligations under this Agreement of a Lender who has made a notification
                under this Clause 7.1,
                in which event, and at such time, the Lender who has made such
                notification shall assign or transfer its rights and obligations
                under
                this Agreement to the other Lender at par (such assignment or transfer
                to
                be effective on or before the date for repayment or prepayment specified
                in paragraph (c)
                above).

            

       

      	(e)  	
              Unless
                the Facility Agent otherwise agrees, in the event that a transfer
                or
                assignment requested by the Company and/or the Guarantor under this
                Clause
                7.1 takes effect, the Company must pay to the Facility Agent for
                its own
                account a fee of US$3,500. 

            

       

      	7.2  	
              Voluntary
                prepayment

            

       

      	(a)  	
              The
                Company may, by giving not less than two
                Business Days' prior notice to the Facility Agent, prepay the Loan
                at any
                time in whole or in part.

            

       

      	(b)  	
              A
                prepayment of part of the Loan must be in a minimum amount of US$5,000,000
                and an integral multiple of US$1,000,000.

            

       

      	7.3  	
              Automatic
                cancellation

            

       

        The
        unutilised Commitment of each Lender will be automatically cancelled on the
        earlier of:

       

      	(i)  	
              the
                date of (and immediately following) the advance of the Loan; and
                

            

       

      	(ii)  	
              the
                close of business on the last day of the Availability
                Period.

            

       

      	7.4  	
              Voluntary
                cancellation

            

       

      	(a)  	
              The
                Company may, by giving not less than three
                Business Days' prior notice to the Facility Agent, cancel the unutilised
                amount of the Total Commitments in whole or in
                part.

            

       

      	(b)  	
              Partial
                cancellation of the Total Commitments must be in a minimum amount
                of
                US$5,000,000
                and an integral multiple of US$1,000,000.

            

       

      	(c)  	
              Any
                cancellation in part will be applied pro rata against the Commitment
                of
                each Lender.

            

       

      	7.5  	
              Right
                of repayment and cancellation of a single
                Lender

            

       

      	(a)  	
              If
                the Company is, or will be, required to pay to a Lender (the Notified
                Lender or
                that
                Lender):

            

       

      	(i)  	
              a
                Tax Payment; or

            

       

      	(ii)  	
              an
                Increased Cost,

            

       

        provided
        that no Default has occurred and is continuing, and the Company has satisfied
        all its obligations under this Agreement to that Lender, the Company may,
        while
        the requirement continues, give notice to the Facility Agent requesting
        assignment or prepayment and cancellation in respect of that
        Lender.

       

      	(b)  	
              After
                notification under paragraph (a)
                above
                and subject to paragraph (d)
                below:

            

       

      	(i)  	
              the
                Company must repay or prepay that Lender's share in the Loan on the
                date
                specified in paragraph (c)
                below;
                and

            

       

      	(ii)  	
              the
                Commitment of that Lender will be immediately
                cancelled.

            

       

      	(c)  	
              The
                date for repayment or prepayment of that Lender's share in the Loan
                will
                be:

            

       

      	(i)  	
              the
                last day of the current Interest Period for the Loan;
                or

            

       

      	(ii)  	
              if
                earlier, the date specified by the Company in its
                notification.

            

       

      	(d)  	
              At
                any time prior to the date for repayment or prepayment specified
                in
                paragraph (c)
                above,
                the Company and/or the Guarantor will have the option to identify
                a Lender
                that is willing to accept an assignment or transfer of the rights
                and
                obligations under this Agreement of the Notified Lender, in which
                event,
                and at such time, the Notified Lender shall assign or transfer its
                rights
                and obligations under this Agreement to the other Lender at par (such
                assignment or transfer to be effective on or before the date for
                repayment
                or prepayment specified in paragraph (c)
                above).

            

       

      	(e)  	
              Unless
                the Facility Agent otherwise agrees, in the event that a transfer
                or
                assignment requested by the Company and/or the Guarantor under this
                Clause
                7.5
                takes effect, the Company must pay to the Facility Agent for its
                own
                account a fee of US$3,500.

            

       

      	7.6  	
              Mandatory
                Cost

            

       

      	(a)  	
              The
                Company will not be required to pay any Lender any amount in respect
                of
                any Mandatory Cost until after both:

            

       

      	(i)  	
              the
                rate of Mandatory Cost has increased from the rate in effect at the
                date
                of this Agreement; and 

            

       

      	(ii)  	
              that
                Lender has notified the Facility Agent that it requires the Company
                to pay
                Mandatory Cost.

            

       

      	(b)  	
              If
                any Lender provides a notification to the Facility Agent in accordance
                with (a)
                above,
                the Company may, provided that no Default has occurred and is continuing,
                and the Company has satisfied all its obligations under this Agreement
                to
                that Lender, while the requirement continues, give notice to the
                Facility
                Agent requesting assignment or prepayment and cancellation in respect
                of
                that Lender (the Notified
                Lender or
                that
                Lender).

            

       

      	(c)  	
              After
                notification by the Company to the Facility Agent under paragraph
                (b)
                above
                and subject to paragraph (e)
                below:

            

       

      	(i)  	
              the
                Company must repay or prepay that Lender's share in the Loan on the
                date
                specified in paragraph (d)
                below;
                and

            

       

      	(ii)  	
              the
                Commitment of that Lender will be immediately
                cancelled.

            

       

      	(d)  	
              The
                date for repayment or prepayment of a Lender's share in the Loan
                will
                be:

            

       

      	(i)  	
              the
                last day of the current Interest Period for the Loan;
                or

            

       

      	(ii)  	
              if
                earlier, the date specified by the Company in its
                notification.

            

       

      	(e)  	
              At
                any time prior to the date for repayment or prepayment specified
                in
                paragraph (d)
                above,
                the Company and/or the Guarantor will have the option to identify
                a Lender
                that is willing to accept an assignment or transfer of the rights
                and
                obligations under this Agreement of the Notified Lender, in which
                event,
                and at such time, the Notified Lender shall assign or transfer its
                rights
                and obligations under this Agreement to the other Lender at par (such
                assignment or transfer to be effective on or before the date for
                repayment
                or prepayment specified in paragraph (d)
                above).

            

       

      	(f)  	
              Unless
                the Facility Agent otherwise agrees, in the event that a transfer
                or
                assignment requested by the Company and/or the Guarantor under this
                Clause
                7.6
                takes effect, the Company must pay to the Facility Agent for its
                own
                account a fee of US$3,500.

            

       

      	7.7  	
              Partial
                prepayment of the
                Loan

            

       

        No
        amount
        of the Loan prepaid under this Agreement may subsequently be
        re-borrowed.

       

      	7.8  	
              Miscellaneous
                provisions

            

       

      	(a)  	
              Any
                notice of prepayment and/or cancellation under this Agreement is
                irrevocable and must specify the relevant date(s) and the affected
                Loan
                and Commitments. The Facility Agent must notify the Lenders promptly
                of
                receipt of any such notice.

            

       

      	(b)  	
              All
                prepayments under this Agreement must be made with accrued interest
                on the
                amount prepaid. No premium or penalty is payable in respect of any
                prepayment except for the Agent's fee in Clause 7.5(e) or Break
                Costs.

            

       

      	(c)  	
              The
                Majority Lenders may agree a shorter notice period for a voluntary
                prepayment or a voluntary cancellation.

            

       

      	(d)  	
              No
                prepayment or cancellation is allowed except in accordance with the
                express terms of this Agreement.

            

       

      	(e)  	
              No
                amount of the Total Commitments cancelled under this Agreement may
                subsequently be reinstated.

            

       

      	8.  	
              INTEREST

            

       

      	8.1  	
              Calculation
                of interest

            

       

        The
        rate
        of interest on the Loan for its Interest Period is the percentage rate per
        annum
        equal to the aggregate of the applicable:

       

      	(a)  	
              Margin;

            

       

      	(b)  	
              LIBOR;
                and

            

       

      	(c)  	
              Mandatory
                Cost, subject to the provisions of Clause 7.6(a) (Mandatory Cost)
                above.

            

       

      	8.2  	
              Payment
                of interest

            

       

        Except
        where it is provided to the contrary in this Agreement, the Company must
        pay
        accrued interest on the Loan made to it on the last day of each Interest
        Period.

       

      	8.3  	
              Margin

            

       

      	(a)  	
              In
                this Subclause:

            

       

        Quoting
        Rating Agency means
        at
        any time a Rating Agency which has a Debt Rating of the Guarantor (as defined
        in
        paragraph (b)
        below)
        at the
        relevant time.

       

      	(b)  	
              The
                Margin applicable to the Loan will be the percentage rate per annum
                specified in Column 3 below which corresponds to the criteria in
                relation
                to the long-term senior unsecured, non-credit enhanced debt rating
                assigned to the Guarantor in Column 2 below by Fitch, Moody's and/or
                S&P (as the case may be) (the Debt
                Rating of the Guarantor)
                at the relevant time.

            

      

      
        	
                 

                  Column
                  1

                 

                  Pricing
                  Level

              	
                 

                Column
                  2

                 

                Debt
                  Rating of the Guarantor

              	
                 

                  Column
                  3

                 

                  Margin
                  (per cent. per annum)

              
	 	
                Fitch

              	
                Moody's

              	
                S&P

              	 
	 	 	 	 	 
	
                I

              	
                ≥
                  A

              	
                ≥
                  A2

              	
                ≥
                  A

              	
                0.225

              
	
                II

              	
                A-

              	
                A3

              	
                A-

              	
                0.25

              
	
                III

              	
                BBB+

              	
                Baa1

              	
                BBB+

              	
                0.30

              
	
                IV

              	
                BBB

              	
                Baa2

              	
                BBB

              	
                0.35

              
	
                V

              	
                BBB-

              	
                Baa3

              	
                BBB-

              	
                0.425

              
	
                VI

              	
                ≤
                  BB+

              	
                ≤
                  Ba1

              	
                ≤
                  BB+

              	
                0.60

              

      

       

      	(c)  	
              (i)If
                the Debt Rating of the Guarantor is split, such that a different
                Margin is
                applicable to each Quoting Rating Agency's rating, the applicable
                Margin
                will be determined as follows:

            

       

      	(A)  	
              if
                the Debt Rating of the Guarantor is split and all three ratings fall
                in
                different pricing levels, the Margin applicable to the middle rating
                as
                set out in the table in paragraph (b)
                above
                shall apply; or

            

       

      	(B)  	
              if
                the Debt Rating of the Guarantor is split and two of the ratings
                fall in
                the same pricing level (the Majority
                Level) and
                the third rating falls in a different pricing level, the Margin applicable
                to the Majority Level as set out in the table in
                paragraph (b)
                above
                shall apply.

            

       

      	(ii)  	
              If
                only two Rating Agencies issue a Debt Rating of the Guarantor, the
                Margin
                applicable to the higher rating shall apply, provided that, if the
                higher
                rating is two or more pricing levels above the lower rating, the
                Margin
                applicable to the rating that is one pricing level higher than the
                lower
                of the split ratings as set out in the table in paragraph (b)
                above
                shall apply.

            

       

      	(iii)  	
              If
                only one Rating Agency issues a Debt Rating of the Guarantor, the
                Margin
                applicable to that rating as set out in the table in paragraph
                (b)
                above
                shall apply.

            

       

      	(iv)  	
              If
                no Rating Agency issues a Debt Rating of the Guarantor, the Margin
                applicable to Pricing Level VI as set out in the table in paragraph
                (b)
                above
                shall apply. 

            

       

      	(d)  	
              Any
                change in the Margin resulting from a publicly announced change in
                the
                Debt Rating of the Guarantor shall be effective, subject to paragraph
                (e)
                below,
                as of the date of such public
                announcement.

            

       

      	(e)  	
              For
                so long as an Event of Default is outstanding, the Margin will be
                increased by 2 per cent. per annum.

            

       

      	8.4  	
              Interest
                on overdue amounts

            

       

      	(a)  	
              If
                an Obligor fails to pay any amount payable by it under the Finance
                Documents, it must immediately on demand by the Facility Agent pay
                interest on the overdue amount from its due date up to the date of
                actual
                payment, before, on and after judgment.

            

       

      	(b)  	
              Interest
                on an overdue amount is payable at the rate which would have been
                payable
                (including any increase to the Margin under Clause 8.3(e)
                above)
                if the overdue amount had, during the period of non-payment, constituted
                the Loan in the currency of the overdue amount. For this purpose,
                the
                Facility Agent may (acting reasonably):

            

       

      	(i)  	
              select
                successive Interest Periods of any duration of up to six months;
                and

            

       

      	(ii)  	
              determine
                the appropriate Rate Fixing Day for that Interest
                Period.

            

       

      	(c)  	
              Notwithstanding
                paragraph (b)
                above,
                if the overdue amount is a principal amount of the Loan and becomes
                due
                and payable before the last day of its current Interest Period, then
                the
                first Interest Period for that overdue amount will be the unexpired
                portion of that Interest Period. After the expiry of the first Interest
                Period for that overdue amount, the rate on the overdue amount will
                be
                calculated in accordance with paragraph (b)
                above.

            

       

      	(d)  	
              Interest
                (if unpaid) on an overdue amount will be compounded with that overdue
                amount at the end of each of its Interest Periods but will remain
                immediately due and payable.

            

       

      	8.5  	
              Notification
                of rates of interest

            

       

        The
        Facility Agent must promptly notify each relevant Party of the determination
        of
        a rate of interest under this Agreement.

       

      	9.  	
              INTEREST
                PERIODs

            

       

      	9.1  	
              Selection

            

       

      	(a)  	
              The
                Loan has successive six month Interest
                Periods.

            

       

      	(b)  	
              Each
                Interest Period for the Loan will be six months, starting on the
                Utilisation Date or on the expiry of the preceding Interest Period,
                as the
                case may be.

            

       

      	9.2  	
              No
                overrunning the Final Maturity
                Date

            

       

        If
        an
        Interest Period would otherwise overrun the last applicable Final Maturity
        Date,
        it will be shortened so that it ends on the Final Maturity Date.

       

      	10.  	
              MARKET
                DISRUPTION

            

       

      	10.1  	
              Failure
                of a Reference Bank to supply a
                rate

            

       

        If
        LIBOR
        is to be calculated by reference to the Reference Banks but a Reference Bank
        does not supply a rate by 12.00 noon on a Rate Fixing Day, the applicable
        LIBOR
        will, subject as provided below, be calculated on the basis of the rates
        of the
        remaining Reference Banks.

       

      	10.2  	
              Market
                disruption

            

       

      	(a)  	
              In
                this Clause, each of the following events is a market
                disruption event:

            

       

      	(i)  	
              LIBOR
                is to be calculated by reference to the Reference Banks but no, or
                only
                one, Reference Bank supplies a rate by 12.00 noon on the Rate Fixing
                Day;
                or

            

       

      	(ii)  	
              the
                Facility Agent receives by close of business on the Rate Fixing Day
                notification from Lenders whose shares in the relevant Loan exceed
                50 per
                cent. of that Loan that the cost to them of obtaining matching deposits
                in
                the relevant interbank market is in excess of LIBOR for the relevant
                Interest Period.

            

       

      	(b)  	
              The
                Facility Agent must promptly notify the Company, the Guarantor and
                the
                Lenders of a market disruption event.

            

       

      	(c)  	
              After
                notification under paragraph (b)
                above,
                the rate of interest on each Lender's share in the affected Loan
                for the
                relevant Interest Period will be the aggregate of the
                applicable:

            

       

      	(i)  	
              Margin;

            

       

      	(ii)  	
              rate
                notified to the Facility Agent by that Lender as soon as practicable,
                and
                in any event within 10 Business Days after the start of that Interest
                Period, to be that which expresses as a percentage rate per annum
                the cost
                to that Lender of funding its share in that Loan from whatever source
                it
                may reasonably select, provided that in the absence of such notice
                the
                rate of interest in respect of that Lender's share in the Loan for
                that
                Interest Period will be the same rate of interest that was in effect
                for
                the immediately preceding Interest Period;
                and

            

       

      	(iii)  	
              Mandatory
                Cost.

            

       

      	10.3  	
              Alternative
                basis of interest or funding

            

       

      	(a)  	
              If
                a market disruption event occurs and the Facility Agent, the Company
                or
                the Guarantor so requires, the Company, the Guarantor and the Facility
                Agent must enter into negotiations for a period of not more than
                30 days
                with a view to agreeing an alternative basis for determining the
                rate of
                interest and/or funding for the affected
                Loan.

            

       

      	(b)  	
              Any
                alternative basis agreed will be, with the prior consent of all the
                Lenders, the Company and the Guarantor, binding on all the
                Parties.

            

       

      	11.  	
              TAXES

            

       

      	11.1  	
              General

            

       

        In
        this
        Clause:

       

        Obligor's
        Tax Jurisdiction
        means
        the jurisdiction in which the relevant Obligor is resident for Tax purposes.
        

       

        Qualifying
        Lender
        means a
        Lender which is:

       

      	(a)  	
              a
                Treaty Lender; or

            

       

      	(b)  	
              a
                Lender (other than a Lender within paragraph (a)
                above)
                that is entitled to receive interest in respect of an amount payable
                to
                that Lender under a Finance Document without a Tax Deduction imposed
                by
                the relevant Obligor's Tax Jurisdiction. 

            

       

        Tax
        Credit
        means a
        credit against any Tax or any relief or remission for Tax (or its
        repayment).

       

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

       

        Treaty
        Lender means
        a
        Lender which is:

       

      	(a)  	
              resident
                (as defined in the appropriate double taxation agreement) in a country
                with which the Obligor's Tax Jurisdiction has a double taxation agreement
                giving residents of that country full exemption from the taxation
                on
                interest imposed by that Obligor's Tax Jurisdiction;
                and

            

       

      	(b)  	
              does
                not carry on a business in the Obligor's Tax Jurisdiction through
                a
                permanent establishment with which the payment is effectively
                connected.

            

       

      	11.2  	
              Tax
                gross-up

            

       

      	(a)  	
              Each
                Obligor must make all payments to be made by it under the Finance
                Documents without any Tax Deduction, unless a Tax Deduction is required
                by
                law.

            

       

      	(b)  	
              If:

            

       

      	(i)  	
              a
                Lender is not, or ceases to be, a Qualifying Lender;
                or

            

       

      	(ii)  	
              an
                Obligor or a Lender is aware that an Obligor must make a Tax Deduction
                (or
                that there is a change in the rate or the basis of a Tax
                Deduction),

            

       

        it
        must
        promptly notify the Facility Agent. The Facility Agent must then promptly
        notify
        the affected Parties.

       

      	(c)  	
              Except
                as provided below, if a Tax Deduction is required by law to be made
                by an
                Obligor or the Facility Agent, the amount of the payment due from
                the
                Obligor will be increased to an amount which (after making the Tax
                Deduction) leaves an amount equal to the payment which would have
                been due
                if no Tax Deduction had been required.

            

       

      	(d)  	
              Except
                as provided below, an Obligor is not required to make an increased
                payment
                under paragraph (c)
                above
                for a Tax Deduction in respect of tax imposed by the Obligor's Tax
                Jurisdiction to a Lender that is not, or has ceased to be, a Qualifying
                Lender in excess of the amount that the Obligor would have had to
                pay had
                the Lender been, or not ceased to be, a Qualifying
                Lender.

            

       

      	(e)  	
              Paragraph
                (d)
                above
                will not apply if the Lender has ceased to be a Qualifying Lender
                by
                reason of any change after the date it became a Lender under this
                Agreement in (or in the interpretation, administration, or application
                of)
                any law or double taxation agreement or any published practice or
                concession of any relevant taxing
                authority.

            

       

      	(f)  	
              An
                Obligor is not required to make an increased payment to a Lender
                under
                paragraph (c)
                above
                for a Tax Deduction in respect of tax imposed by the Obligor's Tax
                Jurisdiction if that Lender is a Treaty Lender and the Obligor making
                the
                payment is able to demonstrate that the Tax Deduction would not have
                been
                required if the Lender had complied with its obligations under paragraph
                (i)
                below.

            

       

      	(g)  	
              If
                an Obligor is required to make a Tax Deduction, that Obligor must
                make the
                minimum Tax Deduction allowed by law and must make any payment required
                in
                connection with that Tax Deduction within the time allowed by
                law.

            

       

      	(h)  	
              Within
                30 days of making either a Tax Deduction or a payment required in
                connection with a Tax Deduction, the Obligor making that Tax Deduction
                or
                payment must deliver to the Facility Agent for the relevant Finance
                Party
                entitled to the payment an original receipt (or a certified copy
                thereof)
                satisfactory to that Finance Party (acting reasonably) that the Tax
                Deduction has been made or (as applicable) the appropriate payment
                has
                been paid to the relevant taxing
                authority.

            

       

      	(i)  	
              A
                Treaty Lender must co-operate with each Obligor by using its reasonable
                endeavours to complete any procedural formalities necessary for that
                Obligor to obtain authorisation to make that payment without a Tax
                Deduction.

            

       

      	11.3  	
              Tax
                indemnity

            

       

      	(a)  	
              Except
                as provided below, the Company must indemnify a Finance Party against
                any
                loss or liability which that Finance Party (in its reasonable discretion)
                determines will be or has been suffered (directly or indirectly)
                by that
                Finance Party for or on account of Tax in relation to a payment received
                or receivable (or any payment deemed to be received or receivable)
                under a
                Finance Document.

            

       

      	(b)  	
              Paragraph
                (a)
                above
                does not apply to any Tax assessed on a Finance Party under the laws
                of
                the jurisdiction in which:

            

       

      	(i)  	
              that
                Finance Party is incorporated or, if different, the jurisdiction
                (or
                jurisdictions) in which that Finance Party has a Facility Office
                and is
                treated as resident for tax purposes; or

            

       

      	(ii)  	
              that
                Finance Party's Facility Office is located in respect of amounts
                received
                or receivable in that jurisdiction,

            

       

        if
        that
        Tax is imposed on or calculated by reference to the net income received or
        receivable by that Finance Party. However, any payment deemed to be received
        or
        receivable, including any amount treated as income but not actually received
        by
        the Finance Party, such as a Tax Deduction, will not be treated as net income
        received or receivable for this purpose.

       

      	(c)  	
              A
                Finance Party making, or intending to make, a claim under paragraph
                (a)
                above
                must promptly notify the Company of the event which will give, or
                has
                given, rise to the claim.

            

       

      	11.4  	
              Tax
                Credit

            

       

        If
        an
        Obligor makes a Tax Payment and the relevant Finance Party (in its absolute
        discretion) determines that:

       

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

            

       

      	(b)  	
              that
                Finance Party has obtained, utilised and fully retained that Tax
                Credit on
                an affiliated group basis,

            

       

        the
        Finance Party must pay an amount to the Obligor which that Finance Party
        determines (in its absolute discretion) will leave it (after that payment)
        in
        the same after-Tax position as it would have been if the Tax Payment had
        not
        been required to be made by the Obligor.

       

      	11.5  	
              Stamp
                taxes

            

       

        The
        Company must pay and indemnify each Finance Party against any stamp duty,
        stamp
        duty land tax, registration or other similar Tax payable in connection with
        the
        entry into, performance or enforcement of any Finance Document, except for
        any
        such Tax payable in connection with the entry into a Transfer
        Certificate.

       

      	11.6  	
              Value
                added taxes

            

       

      	(a)  	
              Any
                amount payable under a Finance Document by an Obligor is exclusive
                of any
                value added tax or any other Tax of a similar nature which might
                be
                chargeable in connection with that amount. If any such Tax is chargeable,
                the Obligor must pay to the Finance Party (in addition to and at
                the same
                time as paying that amount) an amount equal to the amount of that
                Tax.

            

       

      	(b)  	
              Where
                a Finance Document requires any Party to reimburse a Finance Party
                for any
                costs or expenses, that Party must also at the same time pay and
                indemnify
                the Finance Party against all value added tax or any other Tax of
                a
                similar nature incurred by the Finance Party in respect of those
                costs or
                expenses but only to the extent that the Finance Party (acting reasonably)
                determines that it is not entitled to credit or repayment from the
                relevant tax authority in respect of the
                Tax.

            

       

      	12.  	
              INCREASED
                COSTS

            

       

      	12.1  	
              Increased
                Costs

            

       

        Except
        as
        provided below in this Clause, the Company must pay to a Finance Party the
        amount of any Increased Cost incurred by that Finance Party as a result
        of:

       

      	(a)  	
              the
                introduction of, or any change in, or any change in the interpretation,
                administration or application of, any law or regulation;
                or

            

       

      	(b)  	
              compliance
                with any law or regulation made after the date of this
                Agreement.

            

       

      	12.2  	
              Exceptions

            

       

        The
        Company need not make any payment for an Increased Cost to the extent that
        the
        Increased Cost is:

       

      	(a)  	
              compensated
                for under another Clause or would have been but for an exception
                to that
                Clause; 

            

       

      	(b)  	
              attributable
                to a Finance Party wilfully failing to comply with any law or regulation;
                or

            

       

      	(c)  	
              incurred
                more than six months prior to the date that such Finance Party notifies
                the Company of such Finance Party's intention to claim compensation
                therefore; provided that, if the circumstances giving rise to such
                claim
                have a retroactive effect, then such six-month period shall be extended
                to
                include the period of such retroactive
                effect.

            

       

      	12.3  	
              Claims

            

       

      	(a)  	
              A
                Finance Party intending to make a claim for an Increased Cost must
                notify
                the Facility Agent of the circumstances giving rise to and the amount
                of
                the claim, following which the Facility Agent will promptly notify
                the
                Company and the Guarantor.

            

       

      	(b)  	
              Each
                Finance Party must, as soon as practicable after a demand by the
                Facility
                Agent, provide a certificate confirming the amount of its Increased
                Cost.

            

       

      	13.  	
              MITIGATION

            

       

      	13.1  	
              Mitigation

            

       

      	(a)  	
              Each
                Finance Party must, in consultation with the Company and the Guarantor,
                take all reasonable steps to mitigate any circumstances which arise
                and
                which result or would result in:

            

       

      	(i)  	
              any
                Tax Payment or Increased Cost being payable to that Finance
                Party;

            

       

      	(ii)  	
              that
                Finance Party being able to exercise any right of prepayment and/or
                cancellation under this Agreement by reason of any illegality;
                or

            

       

      	(iii)  	
              that
                Finance Party incurring any cost of complying with the minimum reserve
                requirements of the European Central
                Bank,

            

       

        including
        transferring its rights and obligations under the Finance Documents to an
        Affiliate or changing its Facility Office.

       

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

            

       

      	(c)  	
              The
                Company must indemnify each Finance Party for all costs and expenses
                reasonably incurred by that Finance Party as a result of any step
                taken by
                it under this Subclause, provided that the Guarantor has been consulted
                with regard to such costs and expenses prior to their
                incurrence.

            

       

      	(d)  	
              A
                Finance Party is not obliged to take any step under this Subclause
                if, in
                the opinion of that Finance Party (acting reasonably), to do so might
                be
                prejudicial to it.

            

       

      	13.2  	
              Conduct
                of business by a Finance Party

            

       

        No
        term
        of this Agreement will:

       

      	(a)  	
              interfere
                with the right of any Finance Party to arrange its affairs (Tax or
                otherwise) in whatever manner it thinks
                fit;

            

       

      	(b)  	
              oblige
                any Finance Party to investigate or claim any credit, relief, remission
                or
                repayment available to it in respect of Tax or the extent, order
                and
                manner of any claim; or

            

       

      	(c)  	
              oblige
                any Finance Party to disclose any information relating to its affairs
                (Tax
                or otherwise) or any computation in respect of
                Tax.

            

       

      	14.  	
              PAYMENTS

            

       

      	14.1  	
              Place

            

       

        Unless
        a
        Finance Document specifies that payments under it are to be made in another
        manner, all payments by a Party (other than the Facility Agent) under the
        Finance Documents must be made to the Facility Agent to its account at such
        office or bank in New York, as it may notify to that Party for this purpose
        by
        not less than five Business Days' prior notice.

       

      	14.2  	
              Funds

            

       

        Payments
        under the Finance Documents to the Facility Agent must be made for value
        on the
        due date at such times and in such funds as the Facility Agent may specify
        to
        the Party concerned as being customary at the time for the settlement of
        transactions in that currency in the place for payment.

       

      	14.3  	
              Distribution

            

       

      	(a)  	
              In
                this Subclause, Standing Payment Instruction
                means:

            

       

      	(i)  	
              in
                relation to a Lender which is a Lender on the date of this Agreement,
                payment instructions set below the name of that Lender in Schedule
                7
                (Form
                of Standing Payment Instructions);
                or

            

       

      	(ii)  	
              in
                relation to a Lender which becomes a Lender after the date of this
                Agreement, payment instructions set out in the Transfer Certificate
                to
                which that Lender is a party,

            

       

        or
        such
        other payment instructions the Lender may notify to the Facility Agent but
        not
        less than five Business Days' prior notice.

       

      	(b)  	
              Each
                payment received by the Facility Agent under the Finance Documents
                for
                another Party must, except as provided below, be made available by
                the
                Facility Agent to that Party by payment (as soon as practicable after
                receipt) to its account with such office or bank in New York, as
                it may
                notify to the Facility Agent for this purpose by not less than five
                Business Days' prior notice.

            

       

      	(c)  	
              Notwithstanding
                paragraph (a)
                above,
                any payment to be made under the Finance Documents by the Facility
                Agent
                to a Lender must be made in accordance with that Lender's Standing
                Payment
                Instruction.

            

       

      	(d)  	
              The
                Facility Agent may apply any amount received by it for an Obligor
                in or
                towards payment (on the date and in the currency and funds of receipt)
                of
                any amount due from that Obligor under the Finance Documents or in
                or
                towards the purchase of any amount of any currency to be so
                applied.

            

       

      	(e)  	
              Where
                a sum is paid to the Facility Agent under this Agreement for another
                Party, the Facility Agent is not obliged to pay that sum to that
                Party
                until it has established that it has actually received it. However,
                the
                Facility Agent may assume that the sum has been paid to it, and,
                in
                reliance on that assumption, make available to that Party a corresponding
                amount. If it transpires that the sum has not been received by the
                Facility Agent, that Party must immediately on demand by the Facility
                Agent refund any corresponding amount made available to it together
                with
                interest on that amount from the date of payment to the date of receipt
                by
                the Facility Agent at a rate calculated by the Facility Agent to
                reflect
                its cost of funds.

            

       

      	14.4  	
              Currency

            

       

      	(a)  	
              Unless
                a Finance Document specifies that payments under it are to be made
                in a
                different manner, the currency of each amount payable under the Finance
                Documents is determined under this
                Clause.

            

       

      	(b)  	
              Amounts
                payable in respect of Taxes, fees, costs and expenses are payable
                in the
                currency in which they are incurred.

            

       

      	(c)  	
              Each
                other amount payable under the Finance Documents is payable in
                US$.

            

       

      	(d)  	
              If
                a change in any currency of a country occurs, the Finance Documents
                will
                be amended in accordance with Clause 25.3 (Change of
                currency).

            

       

      	14.5  	
              No
                set-off or counterclaim

            

       

        All
        payments made by an Obligor under the Finance Documents must be calculated
        and
        made without (and free and clear of any deduction for) set-off or
        counterclaim.

       

      	14.6  	
              Business
                Days

            

       

      	(a)  	
              If
                a payment under the Finance Documents is due on a day which is not
                a
                Business Day, the due date for that payment will instead be the next
                Business Day in the same calendar month (if there is one) or the
                preceding
                Business Day (if there is not).

            

       

      	(b)  	
              During
                any extension of the due date for payment of any principal under
                this
                Agreement interest is payable on that principal at the rate payable
                on the
                original due date.

            

       

      	14.7  	
              Partial
                payments

            

       

      	(a)  	
              If
                any Administrative Party receives a payment insufficient to discharge
                all
                the amounts then due and payable by the Obligors under the Finance
                Documents, the Administrative Party must apply that payment towards
                the
                obligations of the Obligors under the Finance Documents in the following
                order:

            

       

      	(i)  	
              first,
                in or towards payment pro rata of any unpaid fees of the Administrative
                Parties as well as any costs and expenses of the Facility Agent payable
                in
                accordance with the terms of the Finance
                Documents;

            

       

      	(ii)  	
              secondly,
                in or towards payment pro rata of any accrued interest or fee due
                but
                unpaid under this Agreement;

            

       

      	(iii)  	
              thirdly,
                in or towards payment pro rata of any principal amount due but unpaid
                under this Agreement; and

            

       

      	(iv)  	
              fourthly,
                in or towards payment pro rata of any other sum due but unpaid under
                the
                Finance Documents.

            

       

      	(b)  	
              The
                Facility Agent must, if so directed by the Lenders, vary the order
                set out
                in subparagraphs (a)(ii)
                to
                (iv)
                above
                and promptly notify the Obligors of such
                change.

            

       

      	(c)  	
              This
                Subclause will override any appropriation made by an
                Obligor.

            

       

      	14.8  	
              Timing
                of payments

            

       

        If
        a
        Finance Document does not provide for when a particular payment is due, that
        payment will be due within ten Business Days of demand by the relevant Finance
        Party.

       

      	15.  	
              GUARANTEE
                AND INDEMNITY

            

       

      	15.1  	
              Guarantee
                and indemnity

            

       

        The
        Guarantor irrevocably and unconditionally:

       

      	(a)  	
              guarantees
                to each Finance Party punctual performance by the Company of all
                its
                obligations under the Finance Documents;

            

       

      	(b)  	
              undertakes
                with each Finance Party that, whenever the Company does not pay any
                amount
                when due under or in connection with any Finance Document, the Guarantor
                must within two Business Days of demand by the Facility Agent pay
                that
                amount as if it were the principal obligor in respect of that amount;
                and

            

       

      	(c)  	
              indemnifies
                each Finance Party immediately on demand against any cost, loss or
                liability suffered by that Finance Party if any obligation guaranteed
                by
                it is or becomes unenforceable, invalid or illegal; the amount of
                the
                cost, loss or liability under this indemnity will be equal to the
                amount
                the Finance Party would otherwise have been entitled to recover from
                the
                Company under the Finance Documents had such guaranteed obligation
                not
                been unenforceable, invalid or illegal.

            

       

      	15.2  	
              Continuing
                guarantee

            

       

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

       

      	15.3  	
              Reinstatement

            

       

      	(a)  	
              If
                any payment by an Obligor or any discharge given by a Finance Party
                (whether in respect of the obligations of an Obligor or any security
                for
                those obligations or otherwise) or arrangement is made in whole or
                in part
                on the faith of any payment, security or other disposition which
                is
                avoided or must be restored on insolvency, liquidation, administration
                or
                other similar event, the liability of the Guarantor under this Clause
                will
                continue or be reinstated as if the discharge or arrangement had
                not
                occurred.

            

       

      	(b)  	
              Each
                Finance Party may concede or compromise any claim that any payment,
                security or other disposition is liable to avoidance or
                restoration.

            

       

      	15.4  	
              Waiver
                of defences

            

       

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

       

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

            

       

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

            

       

      	(c)  	
              the
                taking, variation, compromise, exchange, renewal or release of, or
                refusal
                or neglect to perfect, take up or enforce, any rights against, or
                security
                over assets of, any Obligor or any other
                person;

            

       

      	(d)  	
              any
                non-presentation or non-observance of any formality or other requirement
                in respect of any instrument or any failure to realise the full value
                of
                any security;

            

       

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

            

       

      	(f)  	
              any
                amendment (however fundamental) or replacement of a Finance Document
                or
                any other document or security;

            

       

      	(g)  	
              any
                unenforceability, illegality, invalidity or non-provability of any
                obligation of any person under any Finance Document or any other
                document
                or security; or

            

       

      	(h)  	
              any
                insolvency or similar proceedings.

            

       

      	15.5  	
              Immediate
                recourse

            

       

      	(a)  	
              The
                Guarantor waives any right it may have of first requiring any Finance
                Party (or any trustee or agent on its behalf) to proceed against
                or
                enforce any other right or security or claim payment from any person
                before claiming from the Guarantor under this
                Clause.

            

       

      	(b)  	
              This
                waiver applies irrespective of any law or any provision of a Finance
                Document to the contrary.

            

       

      	15.6  	
              Appropriations

            

       

        Until
        all
        amounts which may be or become payable by the Obligors under or in connection
        with the Finance Documents have been irrevocably paid in full, each Finance
        Party (or any trustee or agent on its behalf) may without affecting the
        liability of the Guarantor under this Clause:

       

      	(a)  	
              (i)refrain
                from applying or enforcing any other moneys, security or rights held
                or
                received by that Finance Party (or any trustee or agent on its behalf)
                against those amounts; or

            

       

      	(ii)  	
              apply
                and enforce them in such manner and order as it sees fit (whether
                against
                those amounts or otherwise); and

            

       

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

            

       

      	15.7  	
              Non-competition

            

       

        Unless:

       

      	(a)  	
              all
                amounts which may be or become payable by the Obligors under or in
                connection with the Finance Documents have been irrevocably paid
                in full;
                or

            

       

      	(b)  	
              the
                Facility Agent otherwise directs,

            

       

        the
        Guarantor will not, after a claim has been made or by virtue of any payment
        or
        performance by it under this Clause:

       

      	(i)  	
              be
                subrogated to any rights, security or moneys held, received or receivable
                by any Finance Party (or any trustee or agent on its
                behalf);

            

       

      	(ii)  	
              be
                entitled to any right of contribution or indemnity in respect of
                any
                payment made or moneys received on account of the Guarantor's liability
                under this Clause;

            

       

      	(iii)  	
              claim,
                rank, prove or vote as a creditor of the Company or its estate in
                competition with any Finance Party (or any trustee or agent on its
                behalf)
                unless it immediately turns over to the Finance Parties any proceeds
                that
                it recovers as a creditor; or

            

       

      	(iv)  	
              receive,
                claim or have the benefit of any payment, distribution or security
                from or
                on account of the Company, or exercise any right of set-off as against
                the
                Company.

            

       

        The
        Guarantor must hold in trust for and immediately pay or transfer to the Facility
        Agent for the Finance Parties any payment or distribution or benefit of security
        received by it contrary to this Clause or in accordance with any directions
        given by the Facility Agent under this Clause.

       

      	15.8  	
              Additional
                security

            

       

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

       

      	16.  	
              REPRESENTATIONS
                AND WARRANTIES

            

       

      	16.1  	
              Representations
                and warranties

            

       

        The
        representations and warranties set out in this Clause are made by each Obligor
        or (if it so states) either one of them to each Finance Party and are subject
        to
        Clause 19.11 (BLIO Matters).

       

      	16.2  	
              Status

            

       

        It
        is a
        limited liability company or corporation duly organised, validly existing
        and in
        good standing under the laws of its jurisdiction of incorporation.

       

      	16.3  	
              Powers,
                authority and non-conflict

            

       

        The
        execution, delivery and performance by it of the Finance Documents to which
        it
        is a party, and the consummation of the transactions contemplated hereby,
        are
        within its corporate powers, have been duly authorised by all necessary
        corporate action, and do not contravene:

       

      	(a)  	
              any
                of its constitutional documents; or

            

       

      	(b)  	
              any
                law or contractual restriction binding on or affecting
                it.

            

       

      	16.4  	
              Authorisations

            

       

        No
        authorisation or approval or other action by, and no notice to or filing
        with,
        any governmental authority or regulatory body or any other third party is
        required for the due execution, delivery and performance by it of any Finance
        Document to which it is a party.

       

      	16.5  	
              Legal
                validity

            

       

        Each
        Finance Document to which it is a party has been duly executed and delivered
        by
        it. Subject to the Legal Reservations, each Finance Document to which it
        is a
        party, is its legal, valid and binding obligations enforceable against it
        in
        accordance with such Finance Document's respective terms.

       

      	16.6  	
              Financial
                statements

            

       

        The
        Guarantor represents and warrants that the Consolidated balance sheet of
        the
        Guarantor as at 25 December, 2004, and the related Consolidated statements
        of
        income and cash flows of the Group for the fiscal year then ended, accompanied
        by an opinion of PricewaterhouseCoopers LLP, independent public accountants,
        and
        the Consolidated balance sheet of the Group as at 25 June, 2005 and the related
        Consolidated statements of income and cash flows of the Group for the six
        months
        then ended, duly certified by the chief financial officer of the Guarantor,
        copies of which have been furnished to each Lender, fairly present, subject,
        in
        the case of said balance sheet as at 25 June, 2005 and said statements of
        income
        and cash flows for the six months then ended, to year-end audit adjustments,
        the
        Consolidated financial condition of the Group as at such dates and the
        Consolidated results of the operations of the Group for the periods ended
        on
        such dates, all in accordance with generally accepted accounting principles
        consistently applied. At the date of this Agreement there has been no Material
        Adverse Change since 25 December, 2004, other than as publicly disclosed
        prior
        to the date of this Agreement.

       

      	16.7  	
              Litigation

            

       

        At
        the
        date of this Agreement there is no pending or threatened action, suit,
        investigation, litigation or proceeding, including, without limitation, any
        Environmental Action, affecting any member of the Group before any court,
        governmental agency or arbitrator that:

       

      	(a)  	
              could
                be reasonably likely to have a Material Adverse Effect (other than
                matters
                as are identified in the periodic report of the Guarantor, which
                are filed
                prior to the date of this Agreement with the SEC);
                or

            

       

      	(b)  	
              purports
                to affect the legality, validity or enforceability of this Agreement
                or
                any other Finance Document or the consummation of the transactions
                contemplated hereby.

            

       

      	16.8  	
              Use
                of credit

            

       

        It
        is not
        engaged in the business of extending credit for the purpose of purchasing
        or
        carrying margin stock (within the meaning of Regulation U issued by the Board
        of
        Governors of the Federal Reserve System), and no proceeds of any Loan will
        be
        used to purchase or carry any margin stock or to extend credit to others
        for the
        purpose of purchasing or carrying any margin stock.

       

      	16.9  	
              Title
                to property

            

       

        The
        Company represents and warrants that it, and the Guarantor represents and
        warrants that each member of the Group has good title to, or valid leasehold
        interests in, all its real and personal property material to its business,
        except for defects in title that do not interfere with its ability to conduct
        its business as currently conducted or to utilise such properties for their
        intended purposes and that, individually or in the aggregate, could not
        reasonably be expected to result in a Material Adverse Effect.

       

      	16.10  	
              Intellectual
                property

            

       

        The
        Company represents and warrants that it, and the Guarantor represents and
        warrants that each member of the Group owns, or is licensed to use, all
        trademarks, trade names, copyrights, patents and other intellectual property
        material to its business, and the use thereof by each member of the Group
        does
        not infringe upon the rights of any other person, except for any such
        infringements that, individually or in the aggregate, could not reasonably
        be
        expected to result in a Material Adverse Effect.

       

      	16.11  	
              Compliance
                with laws

            

       

        The
        Company represents and warrants that it, and the Guarantor represents and
        warrants that each member of the Group is in compliance with all laws
        (including, without limitation, ERISA, Environmental Laws and the Patriot
        Act),
        regulations and orders of any governmental authority applicable to it or
        its
        property and all indentures, agreements and other instruments binding upon
        it or
        its property, except where the failure to do so, individually or in the
        aggregate, could not reasonably be expected to result in a Material Adverse
        Effect.

       

      	16.12  	
              Investment
                Company Act

            

       

        The
        Company represents and warrants that it is not, and the Guarantor represents
        and
        warrants that no member of the Group is:

       

      	(a)  	
              an
                "investment company" as defined in, or subject to regulation under,
                the
                Investment Company Act of 1940; or

            

       

      	(b)  	
              a
                "holding company" as defined in, or subject to regulation under,
                the
                Public Utility Holding Company Act of
                1935.

            

       

      	16.13  	
              Taxes

            

       

      	(a)  	
              The
                Company represents and warrants that it, and the Guarantor represents
                and
                warrants that each member of the Group has timely filed or caused
                to be
                filed all tax returns and reports required to have been filed and
                has paid
                or caused to be paid all taxes required to have been filed and has
                paid or
                caused to be paid all taxes required to have been paid by it,
                except:

            

       

      	(i)  	
              taxes
                that are being contested in good faith by appropriate proceedings
                and for
                which such person has set aside on its books reserves where required
                by
                GAAP; or

            

       

      	(ii)  	
              to
                the extent that the failure to do so could not reasonably be expected
                to
                result in a Material Adverse Effect.

            

       

      	(b)  	
              The
                Company represents and warrants that for Tax purposes, it is resident
                only
                in the jurisdiction of its incorporation.

            

       

      	16.14  	
              Ownership
                of the Company

            

       

        The
        Company is a wholly-owned Subsidiary of the Guarantor.

       

      	16.15  	
              Material
                Subsidiaries

            

       

        Attached
        hereto at Schedule
        6
        is a
        list of each Material Subsidiary on the date hereof.

       

      	16.16  	
              Dutch
                Banking Act

            

       

      	(a)  	
              If
                the Company is a credit institution (kredietinstelling)
                under the Dutch Banking Act, it is in compliance with the applicable
                provisions of the Dutch Banking Act and any implementing regulation,
                including the Dutch Exemption Regulation.

            

       

      	(b)  	
              On
                the date of this Agreement the Company has verified the status of
                each
                person which is a Lender under this Agreement either
                as:

            

       

      	(i)  	
              a
                Professional Market Party under the Dutch Exemption Regulation;
                or 

            

       

      	(ii)  	
              exempted
                from the requirement to be a Professional Market Party because it
                forms
                part of a closed circle (besloten
                kring)
                with the Company.

            

       

      	(c)  	
              The
                Company will be deemed to have complied with its verification obligation
                set out under (b)(i)
                above,
                if it could reasonably assume that the Lender concerned is a Professional
                Market Party on the basis of:

            

       

      	(i)  	
              information
                from public registers;

            

       

      	(ii)  	
              information
                from a recognised rating institution within the meaning of the Dutch
                capital adequacy rules for credit institutions as set out in the
                Credit
                System Supervision Manual (Handboek
                Wtk)
                part 9001-02;

            

       

      	(iii)  	
              information
                received from such Lender; or

            

       

      	(iv)  	
              an
                express confirmation from such Lender.

            

       

      	16.17  	
              Times
                for making representations and
                warranties

            

       

      	(a)  	
              The
                representations and warranties set out in this Clause are made by
                each
                Obligor on the date of this Agreement.

            

       

      	(b)  	
              Unless
                a representation and warranty is expressed to be given at a specific
                date,
                each representation and warranty is deemed to be repeated by each
                Obligor
                on the Utilisation Date and the first day of each Interest
                Period.

            

       

      	(c)  	
              When
                a representation and warranty is repeated, it is applied to the
                circumstances existing at the time of
                repetition.

            

       

      	17.  	
              POSITIVE
                COVENANTS

            

       

      	17.1  	
              General

            

       

        For
        so
        long as any amount is outstanding under any of the Finance Documents or any
        Lender shall have any Commitment under this Agreement, each Obligor agrees
        to be
        bound by the covenants set out in this Clause relating to it and, where the
        covenant is expressed to apply to each member of the Group, each Obligor
        must
        ensure that each of its Subsidiaries performs that covenant. Each covenant
        is
        subject to Clause 19.11 (BLIO Matters).

       

      	17.2  	
              Compliance
                with laws

            

       

        The
        Guarantor must comply, and cause each of its Subsidiaries to comply, with
        all
        applicable laws, rules, regulations and orders, such compliance to include,
        without limitation, compliance with ERISA, Environmental Laws and the Patriot
        Act to the extent that the failure to do so could reasonably be expected
        to
        result in a Material Adverse Effect.

       

      	17.3  	
              Payment
                of taxes

            

       

        The
        Guarantor must pay and discharge, and cause each of its Subsidiaries to pay
        and
        discharge, before the same shall become delinquent:

       

      	(a)  	
              all
                taxes, assessments and governmental charges or levies imposed upon
                it or
                upon its property; and

            

       

      	(b)  	
              all
                lawful claims that, if unpaid, might by law become a Security Interest
                upon its property,

            

       

        provided,
        however, that neither the Guarantor nor any of its Subsidiaries shall be
        required to pay or discharge any such tax, assessment, charge or claim that
        is
        being contested in good faith and by proper proceedings and as to which
        appropriate reserves are being maintained where required by GAAP, unless
        and
        until any Security Interest resulting therefrom attaches to its property
        and
        enforcement, collection, execution, levy or foreclosure proceedings shall
        have
        been commenced with respect to one or more such taxes, assessments, charges,
        levies or claims that, either individually or in the aggregate, could reasonably
        be expected to result in a Material Adverse Effect.

       

      	17.4  	
              Insurance

            

       

        The
        Guarantor must maintain, and cause each of its Subsidiaries to maintain,
        insurance with responsible and reputable insurance companies or associations
        in
        such amounts and covering such risks as is usually carried by companies engaged
        in similar businesses and owning similar properties in the same general areas
        in
        which the Guarantor or such Subsidiary operates.

       

      	17.5  	
              Preservation
                of corporate existence

            

       

        The
        Guarantor must preserve and maintain, and cause each of its Material
        Subsidiaries to preserve and maintain, its corporate existence, rights (charter
        and statutory) and franchises; provided, however, that the Guarantor and
        its
        Material Subsidiaries may consummate any merger or consolidation permitted
        under
        Clause 18.3
        (Mergers)
        and
        provided further that neither the Guarantor nor any of its Material Subsidiaries
        shall be required to preserve any right or franchise if the board of directors
        of the Guarantor or such Subsidiary shall reasonably determine that the
        preservation thereof is no longer desirable in the conduct of the business
        of
        the Guarantor or such Subsidiary, as the case may be, and that the loss thereof
        is not disadvantageous in any material respect to the Guarantor, such Subsidiary
        or the Lenders.

       

      	17.6  	
              Inspection
                rights

            

       

        The
        Guarantor must, at any reasonable time and from time to time upon no less
        than 5
        Business Days' prior notice to the Guarantor, permit the Facility Agent or
        any
        of the Lenders or any agents or representatives thereof, to examine and make
        copies of and abstracts from the records and books of account of, and visit
        the
        properties of, any member of the Group, and to discuss the affairs, finances
        and
        accounts of any member of the Group with any of their officers or directors
        and
        with their independent certified public accountants.

       

      	17.7  	
              Maintenance
                of accounts

            

       

        The
        Guarantor must keep, and cause each of its Material Subsidiaries to keep,
        proper
        books of record and account, in which full and correct entries shall be made
        of
        all financial transactions and the assets and business of the Guarantor and
        each
        such Subsidiary in accordance with generally accepted accounting principles
        in
        effect from time to time.

       

      	17.8  	
              Maintenance
                of properties

            

       

        The
        Guarantor must maintain and preserve, and cause each of its Material
        Subsidiaries to maintain and preserve, all of its properties that are used
        or
        useful in the conduct of its business in good working order and condition,
        ordinary wear and tear excepted.

       

      	17.9  	
              Ownership
                of the Company

            

       

        The
        Guarantor must maintain 100 per cent. direct or indirect ownership of the
        Company.

       

      	17.10  	
              Reporting
                requirements

            

       

      	(a)  	
              The
                Guarantor (or the Company in the case of (ii)
                below)
                must supply to the Facility Agent in sufficient copies for all the
                Lenders:

            

       

      	(i)  	
              as
                soon as available and in any event within 60 days after the end of
                each of
                the first three quarters of each fiscal year of the Guarantor, a
                Consolidated balance sheet of the Group as of the end of such quarter
                and
                Consolidated statements of income and cash flows of the Group for
                the
                period commencing at the end of the previous fiscal year and ending
                with
                the end of such quarter, duly certified (subject to year-end audit
                adjustments) by the chief financial officer, treasurer or controller
                of
                the Guarantor as having been prepared in accordance with GAAP and
                certificates of the chief financial officer, treasurer or controller
                of
                the Guarantor as to compliance with the terms of this Agreement and
                setting forth in reasonable detail the calculations necessary to
                demonstrate compliance with Clause 18.8
                (Financial
                covenants),
                provided that in the event of any change in GAAP used in the preparation
                of such financial statements, the Guarantor shall also provide, if
                necessary for the determination of compliance with
                Clause 18.8
                (Financial
                covenants),
                a statement of reconciliation conforming such financial statements
                to
                GAAP;

            

       

      	(ii)  	
              as
                soon as available and in any event within 60 days after the end of
                each of
                the first half of each fiscal year of the Company, interim financial
                statements of the Company;

            

       

      	(iii)  	
              as
                soon as available and in any event within 105 days after the end
                of each
                fiscal year of the Guarantor, a copy of the audited annual report
                for such
                year for the Group, containing a Consolidated balance sheet of the
                Group
                as of the end of such fiscal year and Consolidated statements of
                income
                and cash flows of the Group for such fiscal year, in each case accompanied
                by an opinion acceptable to the Majority Lenders by
                PricewaterhouseCoopers, LLP or other independent public accountants
                acceptable to the Majority Lenders and certificates of the chief
                financial
                officer, treasurer or controller of the Guarantor as to compliance
                with
                the terms of this Agreement and setting forth in reasonable detail
                the
                calculations necessary to demonstrate compliance with Clause 18.8
                (Financial
                covenants),
                provided that in the event of any change in GAAP used in the preparation
                of such financial statements, the Guarantor shall also provide, if
                necessary for the determination of compliance with Clause 18.8
                (Financial
                covenants),
                a statement of reconciliation conforming such financial statements
                to
                GAAP;

            

       

      	(iv)  	
              as
                soon as possible and in any event within five days after the occurrence
                of
                each Default continuing on the date of such statement, a statement
                of the
                chief financial officer, treasurer or controller of the Guarantor
                setting
                forth details of such Default and the action that the Guarantor has
                taken
                and proposes to take with respect
                thereto;

            

       

      	(v)  	
              promptly
                after the sending or filing thereof, copies of all reports that the
                Guarantor sends to any of its securityholders, and copies of all
                reports
                and registration statements that the Guarantor or any of its Subsidiaries
                files with the Securities and Exchange Commission or any national
                securities exchange;

            

       

      	(vi)  	
              promptly
                after the commencement thereof, notice of all actions and proceedings
                before any court, governmental agency or arbitrator affecting any
                member
                of the Group of the type described in Clause 16.7
                (Litigation);
                and

            

       

      	(vii)  	
              such
                other information respecting any member of the Group as any Lender
                through
                the Facility Agent may from time to time reasonably
                request.

            

       

      	(b)  	
              Reports
                required to be delivered pursuant to (i),
                (iii),
                (v) and (vi) above shall be deemed to have been delivered on the
                date on
                which such report is posted on the SEC's website at www.sec.gov,
                and such
                posting shall be deemed to satisfy the reporting requirements of
                (i),
                (iii),
                (v) and (vi) above; provided that the Guarantor shall deliver paper
                copies
                of the certificate required by (i)
                and (iii)
                above to the Facility Agent and each of the Lenders until such time
                as the
                Facility Agent shall provide the Company or Guarantor written notice
                otherwise.

            

       

      	17.11  	
              Know
                your customer requirements

            

       

      	(a)  	
              Each
                Obligor must as soon as reasonably practicable following receipt
                of
                written request from any Finance Party supply to that Finance Party
                any
                documentation or other evidence which is reasonably requested by
                that
                Finance Party (whether for itself, on behalf of any Finance Party
                or any
                prospective new Lender) to enable a Finance Party or prospective
                new
                Lender to carry out and be satisfied with the results of all applicable
                know your customer requirements.

            

       

      	(b)  	
              Each
                Lender must promptly on the request of the Facility Agent supply
                to the
                Facility Agent any documentation or other evidence which is reasonably
                required by the Facility Agent to carry out and be satisfied with
                the
                results of all know your customer
                requirements.

            

       

      	18.  	
              NEGATIVE
                COVENANTS
                AND FINANCIAL COVENANTS

            

       

      	18.1  	
              General

            

       

        For
        so
        long as any amount is outstanding under any of the Finance Documents or any
        Lender shall have any Commitment under this Agreement, each Obligor agrees
        to be
        bound by the covenants set out in this Clause relating to it and, where the
        covenant is expressed to apply to each member of the Group, each Obligor
        must
        ensure that each of its Subsidiaries performs that covenant.

       

      	18.2  	
              Negative
                pledge

            

       

        The
        Guarantor must not create or suffer to exist, or permit any of its Subsidiaries
        to create or suffer to exist, any Security Interest on or with respect to
        any of
        its properties, whether now owned or hereafter acquired, or assign, or permit
        any of its Subsidiaries to assign, any right to receive income, other
        than:

       

      	(a)  	
              Permitted
                Security Interests;

            

       

      	(b)  	
              purchase
                money Security Interests upon or in any real property or equipment
                acquired or held by any member of the Group in the ordinary course
                of
                business to secure the purchase price of such property or equipment
                or to
                secure Debt incurred solely for the purpose of financing the acquisition
                of such property or equipment, or Security Interests existing on
                such
                property or equipment at the time of its acquisition (other than
                any such
                Security Interests created in contemplation of such acquisition that
                were
                not incurred to finance the acquisition of such property) or extensions,
                renewals or replacements of any of the foregoing for the same or
                a lesser
                amount, provided, however, that no such Security Interest shall extend
                to
                or cover any properties of any character other than the real property
                or
                equipment being acquired, and no such extension, renewal or replacement
                shall extend to or cover any properties not theretofore subject to
                the
                Security Interest being extended, renewed or replaced, provided further
                that the aggregate principal amount of the indebtedness secured by
                the
                Security Interests referred to in this paragraph shall not exceed
                US$100,000,000 at any time outstanding;

            

       

      	(c)  	
              Security
                Interests arising in connection with any court action or other legal
                proceeding so long as no Default under Clause 19.7
                (Final
                judgment)
                has occurred and is continuing;

            

       

      	(d)  	
              other
                Security Interests securing Debt in an aggregate principal amount
                not to
                exceed US$50,000,000 at any time outstanding;
                and

            

       

      	(e)  	
              the
                replacement, extension or renewal of any Security Interest permitted
                by
                paragraph (a)
                above
                upon or in the same property theretofore subject thereto or the
                replacement, extension or renewal (without increase in the amount
                or
                change in any direct or contingent obligor) of the Debt secured
                thereby.

            

       

      	18.3  	
              Mergers

            

       

        The
        Guarantor must not merge or consolidate with or into, or convey, transfer,
        lease
        or otherwise dispose of (whether in one transaction or in a series of
        transactions) all or substantially all of its assets (whether now owned or
        hereafter acquired) to, any person, or permit any of its Material Subsidiaries
        to do so, except that:

       

      	(a)  	
              any
                Material Subsidiary may merge or consolidate with or into, or dispose
                of
                assets to, any other Subsidiary of the
                Guarantor;

            

       

      	(b)  	
              any
                Subsidiary of the Guarantor may merge into or dispose of assets to
                the
                Guarantor or to the Company; and

            

       

      	(c)  	
              the
                Guarantor and/or the Company may merge with any other person so long
                as
                the Guarantor and/or the Company (as the case may be) is the surviving
                corporation, 

            

       

        provided,
        in each case, that no Default shall have occurred and be continuing at the
        time
        of such proposed transaction or would result therefrom.

       

      	18.4  	
              Accounting
                changes

            

       

        The
        Guarantor must not make or permit, or permit any of its Subsidiaries to make
        or
        permit, any change in accounting policies or reporting practices, except
        as
        required or permitted by generally accepted accounting principles.

       

      	18.5  	
              Change
                of business

            

       

        The
        Guarantor must not make, or permit any of its Material Subsidiaries to make,
        any
        material change in the nature of the business carried on at the date hereof
        by
        the Guarantor and its Material Subsidiaries, taken as a whole, provided that
        the
        Guarantor and its Material Subsidiaries may expand into other lines of business
        in the health products industry.

       

      	18.6  	
              Restrictive
                agreements

            

       

        The
        Guarantor must not directly or indirectly enter into, incur or permit to
        exist,
        or permit any of its Subsidiaries to enter into, incur or permit to exist,
        any
        agreement or other arrangement that prohibits, restricts or imposes any
        condition upon:

       

      	(a)  	
              the
                ability of the Guarantor or any of its Subsidiaries to create, incur
                or
                permit to exist any Security Interest upon any of its property or
                assets;
                or

            

       

      	(b)  	
              the
                ability of any Subsidiary of the Guarantor 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 Guarantor or any other Subsidiary
                of the
                Guarantor or to guarantee Debt of the Guarantor or any other Subsidiary
                of
                the Guarantor; 

            

       

        provided
        that:

       

      	(i)  	
              paragraph
                (a)
                above
                and this paragraph (b)
                shall not apply to restrictions and conditions imposed by law or
                by this
                Agreement or the Existing Guarantor Credit
                Agreement;

            

       

      	(ii)  	
              paragraph
                (a)
                above
                and this paragraph (b)
                shall not apply to restrictions and conditions that could not be
                reasonably expected to cause a material adverse effect on the ability
                of
                the Guarantor to perform any of its obligations under this
                Agreement;

            

       

      	(iii)  	
              paragraph
                (a)
                above
                and this paragraph (b)
                shall not apply to restrictions and conditions existing on the date
                hereof
                (but shall apply to any extension or renewal of, or any amendment
                or
                modification expanding the scope of, any such restriction or
                condition);

            

       

      	(iv)  	
              paragraph
                (a)
                above
                and this paragraph (b)
                shall not apply to customary restrictions and conditions contained
                in
                agreements relating to the sale of a Subsidiary of the Guarantor
                pending
                such sale, provided such restrictions and conditions apply only to
                the
                Subsidiary of the Guarantor that is to be sold and such sale is permitted
                hereunder;

            

       

      	(v)  	
              paragraph
                (a)
                above
                shall not apply to restrictions or conditions imposed by any agreement
                relating to secured Debt permitted by this Agreement if such restrictions
                or conditions apply only to the property or assets securing such
                Debt;
                and

            

       

      	(vi)  	
              paragraph
                (a)
                above
                shall not apply to customary provisions in leases and licences restricting
                the assignment thereof.

            

       

      	18.7  	
              Use
                of credit

            

       

        The
        Guarantor must not use, or permit any of its Subsidiaries to use, the proceeds
        of any Loan to purchase or carry margin stock (within the meaning of Regulation
        U of the Board of Governors of the Federal Reserve System) or to extend credit
        to others for the purpose of purchasing or carrying margin stock.

       

      	18.8  	
              Financial
                covenants

            

       

        So
        long
        as any Loan shall remain unpaid or any Lender shall have any Commitment
        hereunder, the Guarantor must:

       

      	(a)  	
              maintain
                a ratio of Consolidated Debt for Borrowed Money to Consolidated EBITDA
                of
                the Group for the four fiscal quarters most recently ended of not
                greater
                than 3.0:1.0; and

            

       

      	(b)  	
              maintain
                a ratio of Consolidated EBITDA of the Group for the four fiscal quarters
                most recently ended to interest payable on, and amortisation of debt
                discount in respect of, all Debt for Borrowed Money during such period,
                by
                the Group of not less than 4.0:1.0.

            

       

        The
        ratios referred to in this Clause 18.8 shall be tested by reference to the
        financial statements most recently delivered by the Guarantor to the Facility
        Agent in accordance with Clause 17.10(a)(i) and Clause
        17.10(a)(iii).

       

      	19.  	
              DEFAULT

            

       

      	19.1  	
              Events
                of Default

            

       

        Subject
        to Clause 19.11 (BLIO Matters) below, each of the events or circumstances
        set
        out in this Clause is an Event of Default.

       

      	19.2  	
              Non-payment

            

       

        An
        Obligor does not pay on the due date any amount payable pursuant to a Finance
        Document unless:

       

      	(i)  	
              its
                failure to pay is caused by administrative or technical error;
                and

            

       

      	(ii)  	
              payment
                is made within two Business Days of receiving notice that the payment
                was
                not made on its due date.

            

       

      	19.3  	
              Misrepresentation

            

       

        Any
        representation or warranty made by an Obligor herein or by an Obligor (or
        any of
        its officers) in connection with this Agreement shall prove to have been
        incorrect in any material respect when made.

       

      	19.4  	
              Breach
                of other obligations

            

       

      	(a)  	
              An
                Obligor shall fail to perform or observe any term, covenant or agreement
                contained in Clauses 17.5
                (Preservation
                of corporate existence),
                17.6
                (Inspection
                rights),
                17.10
                (Reporting
                requirements),
                or 18
                (Negative
                Covenants and Financial Covenants);
                or

            

       

      	(b)  	
              an
                Obligor shall fail to perform or observe any other term, covenant
                or
                agreement contained in this Agreement on its part to be performed
                or
                observed if such failure shall remain unremedied for 30 days after
                the
                earlier of:

            

       

      	(i)  	
              written
                notice thereof shall have been given to the Company and the Guarantor
                by
                the Facility Agent or any Lender; and

            

       

      	(ii)  	
              a
                responsible financial officer of the Company and the Guarantor otherwise
                becomes aware of such failure.

            

       

      	19.5  	
              Cross-default

            

       

      	(a)  	
              The
                Guarantor or any of its Subsidiaries shall fail to pay any principal
                of or
                premium or interest on any Debt that is outstanding in a principal
                or
                notional amount of at least US$50,000,000 in the aggregate (but excluding
                Debt outstanding hereunder) of the Guarantor or such Subsidiary (as
                the
                case may be), when the same becomes due and payable (whether by scheduled
                maturity, required prepayment, acceleration, demand or otherwise),
                and
                such failure shall continue after the applicable grace period, if
                any,
                specified in the agreement or instrument relating to such Debt;
                

            

       

      	(b)  	
              any
                other event shall occur or condition shall exist under any agreement
                or
                instrument relating to any such Debt and shall continue after the
                applicable grace period, if any, specified in such agreement or
                instrument, if the effect of such event or condition is to accelerate,
                or
                to permit the acceleration of, the maturity of such Debt; or
                

            

       

      	(c)  	
              any
                such Debt shall be declared to be due and payable, or required to
                be
                prepaid or redeemed (other than by a regularly scheduled required
                prepayment or redemption), purchased or defeased, or an offer to
                prepay,
                redeem, purchase or defease such Debt shall be required to be made,
                in
                each case prior to the stated maturity
                thereof.

            

       

      	19.6  	
              Insolvency

            

       

        Except
        as
        provided below, any of the following occurs in respect of the Guarantor or
        any
        of its Material Subsidiaries:

       

      	(a)  	
              it
                shall generally not pay its debts as such debts become
                due;

            

       

      	(b)  	
              it
                admits in writing its inability to pay its debts
                generally;

            

       

      	(c)  	
              it
                makes a general assignment for the benefit of its creditors;
                

            

       

      	(d)  	
              any
                proceeding shall be instituted by or against it:
                

            

       

      	(i)  	
              seeking
                to adjudicate it a bankrupt or insolvent;

            

       

      	(ii)  	
              seeking
                liquidation, winding up, reorganisation, arrangement, adjustment,
                protection, relief, or composition of it or its debts under any law
                relating to bankruptcy, insolvency or reorganisation or relief of
                debtors;
                or

            

       

      	(iii)  	
              seeking
                the entry of an order for relief or the appointment of a receiver,
                trustee, custodian or other similar official for it or for any substantial
                part of its property; and

            

       

        in
        the
        case of any such proceeding instituted against it (but not instituted by
        it):

       

      	(iv)  	
              either
                such proceeding shall remain undismissed or unstayed for a period
                of 60
                days; or

            

       

      	(v)  	
              any
                of the actions sought in such proceeding (including, without limitation,
                the entry of an order for relief against, or the appointment of a
                receiver, trustee, custodian or other similar official for, it or
                for any
                substantial part of its property) shall occur; or
                

            

       

      	(e)  	
              the
                Guarantor or any of its Material Subsidiaries shall take any corporate
                action to authorise any of the actions set forth above in this
                Clause.

            

       

      	19.7  	
              Final
                judgment

            

       

      	(a)  	
              Any
                judgments or orders for the payment of money in excess of US$25,000,000
                in
                the aggregate shall be rendered against the Guarantor or any of its
                Subsidiaries and either:

            

       

      	(i)  	
              enforcement
                proceedings shall have been commenced by any creditor upon such judgment
                or order; 

            

       

      	(ii)  	
              other
                than in respect of a settlement order, there shall be any period
                of 30
                consecutive days during which a stay of enforcement of such judgment
                or
                order, by reason of a pending appeal or otherwise, shall not be in
                effect;
                or

            

       

      	(iii)  	
              the
                Guarantor or any of its Subsidiaries shall be in default under a
                settlement order.

            

       

      	(b)  	
              Any
                non-monetary judgment or order shall be rendered against the Guarantor
                or
                any of its Subsidiaries that could be reasonably expected to have
                a
                Material Adverse Effect, and there shall be any period of 30 consecutive
                days during which a stay of enforcement of such judgment or order,
                by
                reason of a pending appeal or otherwise, shall not be in
                effect.

            

       

      	19.8  	
              Change
                of control

            

       

      	(a)  	
              Any
                person or two or more persons acting in concert shall have acquired
                beneficial ownership (within the meaning of Rule 13d-3 of the Securities
                and Exchange Commission under the U.S. Securities Exchange Act of
                1934),
                directly or indirectly, of Voting Stock of the Guarantor (or other
                securities convertible into such Voting Stock) representing 30 per
                cent.
                or more of the combined voting power of all Voting Stock of the Guarantor;
                

            

       

      	(b)  	
              during
                any period of up to 12 consecutive months, commencing before or after
                the
                date of this Agreement, individuals who at the beginning of such
                12-month
                period were directors of the Guarantor shall cease for any reason
                to
                constitute a majority of the board of directors of the Guarantor;
                or

            

       

      	(c)  	
              any
                person or two or more persons acting in concert shall have acquired
                by
                contract or otherwise, or shall have entered into a contract or
                arrangement that, upon consummation, will result in its or their
                acquisition of the power to exercise, directly or indirectly, a
                controlling influence over the management or policies of the
                Guarantor.

            

       

      	19.9  	
              ERISA

            

       

        The
        Guarantor or any of its ERISA Affiliates shall incur, or shall be reasonably
        likely to incur liability in excess of US$50,000,000 in the aggregate as
        a
        result of one or more of the following:

       

      	(a)  	
              the
                occurrence of any ERISA Event;

            

       

      	(b)  	
              the
                partial or complete withdrawal of the Guarantor or any of its ERISA
                Affiliates from a Multiemployer Plan; or

            

       

      	(c)  	
              the
                reorganisation or termination of a Multiemployer
                Plan.

            

       

      	19.10  	
              Acceleration

            

       

        If
        an
        Event of Default occurs, the Facility Agent shall at the request, or may
        with
        the consent, of the Majority Lenders, by notice to the Company and the
        Guarantor:

       

      	(a)  	
              declare
                the obligation of each Lender to advance Loans to be terminated,
                whereupon
                the same shall forthwith terminate; and

            

       

      	(b)  	
              declare
                the Loans, all interest thereon and all other amounts payable under
                this
                Agreement to be forthwith due and payable, whereupon the Loans, all
                such
                interest and all such amounts shall become and be forthwith due and
                payable, without presentment, demand, protest or further notice of
                any
                kind, all of which are hereby expressly waived by the Company; provided,
                however, that in the event of an actual or deemed entry of an order
                for
                relief with respect to the Guarantor under the Bankruptcy
                Code:

            

       

      	(i)  	
              the
                obligation of each Lender to make Loans shall automatically be terminated;
                and

            

       

      	(ii)  	
              the
                Loans, all such interest and all such amounts shall automatically
                become
                and be due and payable, without presentment, demand, protest or any
                notice
                of any kind, all of which are hereby expressly waived by the
                Company.

            

       

      	19.11  	
              BLIO
                Matters

            

       

      	(a)  	
              Solely
                for the Waiver Period, it is agreed that, the BLIO Matters described
                in
                the BLIO Announcements will not result in or constitute a breach
                of this
                Agreement (including, without limitation, any misrepresentation or
                breach
                of covenant) or an Event of Default) to the extent
                that:

            

       

      	(i)  	
              any
                restatements of the Guarantor's financial statements for prior financial
                periods do not result in reductions in profits after tax of the Guarantor
                of more than US$50,000,000 in the aggregate;
                and

            

       

      	(ii)  	
              with
                respect to any delay in delivery of financial statements required
                to be
                delivered under this Agreement, such delay does not extend beyond
                1 March,
                2006.

            

       

      	(b)  	
              In
                this Clause:

            

       

        BLIO
        Announcements
        means
        the Guarantor's:

       

      	(i)  	
              press
                releases dated 26 October, 2005 and 3 November, 2005;
                and

            

       

      	(ii)  	
              filings
                with the SEC on Form 8-K dated 27 October, 2005 and on Form 12(b)-25
                dated
                3 November, 2005,

            

       

        in
        each
        case relating to the Guarantor's Subsidiary, BL Industria Otica, Ltda
        (BLIO)
        and the
        Guarantor's related investigation.

       

        BLIO
        Matters
        means
        the events including, without limitation, the allegations of improper
        management, improper accounting and unpaid taxes of BLIO, and the Guarantor's
        related investigation, which may result in the need for the Guarantor
        to:

       

      	(i)  	
              delay
                delivery of its financial statements to the Facility Agent under
                this
                Agreement;

            

       

      	(ii)  	
              delay
                certain of its filings with the SEC; and

            

       

      	(iii)  	
              restate
                its financial statements for prior periods, and that such a restatement,
                if necessary, would also require unrelated out-of-period entries
                made in
                prior periods to be reclassified to the appropriate prior
                period.

            

       

        Waiver
        Period
        means
        the period beginning on the date of this Agreement and ending on the Waiver
        Termination Date.

       

        Waiver
        Termination Date
        means
        the date (if any) on which holders of any Debt owed by the Guarantor or any
        of
        its Subsidiaries in a principal or notional amount of at least US$50,000,000
        shall accelerate or give notice of acceleration of such Debt.

       

      	(c)  	
              Notwithstanding
                the foregoing, with respect to the BLIO Matters, nothing in this
                Clause
                19.11
                shall constitute an admission (i) of liability with respect to the
                BLIO
                Matters, (ii) that any misrepresentation or breach of warranty, covenant
                or other provision of this Agreement has occurred, or (iii) that
                an Event
                of Default has occurred under this
                Agreement.

            

       

      	(d)  	
              On
                the Waiver Termination Date, without any further action by any Finance
                Party, all of the terms and provisions set forth in this Agreement
                that
                are waived pursuant to this Clause 19.11
                and not cured prior to the Waiver Termination Date shall have the
                same
                force and effect as if this Clause 19.11
                did not exist, and the Finance Parties shall have all of the rights
                and
                remedies afforded to them under this Agreement with respect to any
                such
                waived terms and provisions as though this Clause 19.11
                did not exist.

            

       

      	20.  	
              THE
                ADMINISTRATIVE PARTIES

            

       

      	20.1  	
              Appointment
                of the Facility Agent

            

       

      	(a)  	
              Each
                Finance Party (other than the Facility Agent) irrevocably appoints
                the
                Facility Agent to act as its agent under and in connection with the
                Finance Documents.

            

       

      	(b)  	
              Each
                Finance Party irrevocably authorises the Facility Agent
                to:

            

       

      	(i)  	
              perform
                the duties and to exercise the rights, powers, authorities and discretions
                that are specifically given to it under or in connection with the
                Finance
                Documents, together with any other incidental rights, powers, authorities
                and discretions; and

            

       

      	(ii)  	
              execute
                each Finance Document expressed to be executed by the Facility
                Agent.

            

       

      	(c)  	
              The
                Facility Agent has only those duties which are expressly specified
                in the
                Finance Documents. Those duties are solely of a mechanical and
                administrative nature.

            

       

      	20.2  	
              Role
                of the Mandated Lead Arrangers

            

       

        Except
        as
        specifically provided in the Finance Documents, no
        Mandated Lead Arranger has any
        obligations of any kind to any other Party in connection with any Finance
        Document.

       

      	20.3  	
              No
                fiduciary duties

            

       

      	(a)  	
              Nothing
                in the Finance Documents makes an Administrative Party a trustee
                or
                fiduciary for any other Party or any other person;
                and

            

       

      	(b)  	
              no
                Administrative Party need hold in trust any moneys paid to it or
                recovered
                by it for a Party in connection with the Finance Documents or be
                liable to
                account for interest on those moneys.

            

       

      	20.4  	
              Individual
                position of an Administrative
                Party

            

       

      	(a)  	
              If
                it is also a Lender, each Administrative Party has the same rights
                and
                powers under the Finance Documents as any other Lender and may exercise
                those rights and powers as though it were not an Administrative
                Party.

            

       

      	(b)  	
              Each
                Administrative Party may:

            

       

      	(i)  	
              accept
                deposits from, lend money to and generally engage in any kind of
                banking
                or carry on any other business with an Obligor or its related entities
                (including acting as an agent or a trustee for any other financing);
                and

            

       

      	(ii)  	
              retain
                any profits or remuneration it receives under the Finance Documents
                or in
                relation to any other business it carries on with an Obligor or its
                related entities.

            

       

      	20.5  	
              Reliance

            

       

        The
        Facility Agent may:

       

      	(a)  	
              rely
                on any representation, notice or document believed by it to be genuine
                and
                correct and to have been signed by, or with the authority of, the
                proper
                person;

            

       

      	(b)  	
              rely
                on any statement made by any person regarding any matters which may
                reasonably be assumed to be within his knowledge or within his power
                to
                verify;

            

       

      	(c)  	
              assume,
                unless the context otherwise requires, that any communication made
                by an
                Obligor is made on behalf of and with the consent and knowledge of
                each
                Obligor;

            

       

      	(d)  	
              engage,
                pay for and rely on the advice or services of any professional advisers
                selected by it (including those representing a Party other than the
                Facility Agent); and

            

       

      	(e)  	
              act
                under the Finance Documents through its personnel and
                agents.

            

       

      	20.6  	
              Majority
                Lenders' instructions

            

       

      	(a)  	
              Unless
                any contrary indication appears in a Finance Document, the Facility
                Agent
                is fully protected if it acts (or refrains from taking action) on
                the
                instructions of the Majority Lenders in the exercise of any right,
                power,
                authority or discretion or any matter not expressly provided for
                in the
                Finance Documents. Unless any contrary indication appears in a Finance
                Document, any such instructions given by the Majority Lenders will
                be
                binding on all the Lenders. In the absence of instructions from the
                Majority Lenders (or if appropriate, the Lenders), the Facility Agent
                may
                act (or refrain from taking action) as it considers to be in the
                best
                interests of all the Lenders.

            

       

      	(b)  	
              The
                Facility Agent may assume that unless it has received notice to the
                contrary in its capacity as Facility Agent for the Lenders, any right,
                power, authority or discretion vested in any Party or the Majority
                Lenders
                has not been exercised.

            

       

      	(c)  	
              The
                Facility Agent may refrain from acting in accordance with the instructions
                of the Majority Lenders (or, if appropriate, the Lenders) until it
                has
                received security satisfactory to it, whether by way of payment in
                advance
                or otherwise, against any liability or loss which it may incur in
                complying with the instructions.

            

       

      	(d)  	
              The
                Facility Agent is not authorised to act on behalf of a Lender (without
                first obtaining that Lender's consent) in any legal or arbitration
                proceedings in connection with any Finance
                Document.

            

       

      	20.7  	
              Responsibility

            

       

      	(a)  	
              No
                Administrative Party is responsible for the adequacy, accuracy and/or
                completeness of any statement or information (whether written or
                oral)
                supplied by an Administrative Party, an Obligor or any other person
                given
                in or in connection with any Finance Document including the Information
                Memorandum.

            

       

      	(b)  	
              No
                Administrative Party is responsible for the legality, validity,
                effectiveness, adequacy, completeness or enforceability of any Finance
                Document or any other agreement, arrangement or document entered
                into,
                made or executed in anticipation of or in connection with any Finance
                Document.

            

       

      	(c)  	
              Without
                affecting the responsibility of any Obligor for information supplied
                by it
                or on its behalf in connection with any Finance Document, each Lender
                confirms that it:

            

       

      	(i)  	
              has
                been, and will continue to be, solely responsible for making its
                own
                independent appraisal investigation of all risks arising under or
                in
                connection with the Finance Documents including but not limited
                to:

            

       

      	(A)  	
              the
                financial conditions, status and nature of each member of the
                Group;

            

       

      	(B)  	
              the
                legality, validity, effectiveness, adequacy or enforceability of
                any
                Finance Document and any other agreement, arrangement or document
                entered
                into, made or executed in anticipation of, under or in connection
                with any
                Finance Document;

            

       

      	(C)  	
              whether
                that Lender has recourse, and the nature and extent of that recourse,
                against any Party or any of its respective assets under or in connection
                with any Finance Document, the transactions contemplated by the Finance
                Documents or any other agreement, arrangement or document entered
                into,
                made or executed in anticipation of, under or in connection with
                any
                Finance Document; and

            

       

      	(D)  	
              the
                adequacy, accuracy and/or completeness of the Information Memorandum
                and
                any other information provided by the Facility Agent, any Party or
                by any
                other person under or in connection with any Finance Document, the
                transactions contemplated by the Finance Documents or any other agreement,
                arrangement or document entered into, made or executed in anticipation
                of,
                under or in connection with any Finance Document;
                and

            

       

      	(ii)  	
              has
                not relied exclusively on any information provided to it by any
                Administrative Party in connection with any Finance Document or agreement
                entered into in anticipation of or in connection with any Finance
                Document.

            

       

      	20.8  	
              Exclusion
                of liability

            

       

      	(a)  	
              Without
                limiting paragraph (b)
                below,
                the Facility Agent is not liable or responsible for any action taken
                or
                not taken by it under or in connection with any Finance Document,
                unless
                directly caused by its gross negligence or wilful
                misconduct.

            

       

      	(b)  	
              No
                Party (other than the relevant Administrative Party) may take any
                proceedings against any officers, employees or agents of another
                Administrative Party in respect of any claim it might have against
                that
                Administrative Party or in respect of any act or omission of any
                kind by
                that officer, employee or agent in connection with any Finance Document.
                Any officer, employee or agent of an Administrative Party may rely
                on this
                Subclause and enforce its terms under the Contracts (Rights of Third
                Parties) Act 1999.

            

       

      	(c)  	
              The
                Facility Agent is not liable for any delay (or any related consequences)
                in crediting an account with an amount required under the Finance
                Documents to be paid by the Facility Agent if the Facility Agent
                has taken
                all necessary steps as soon as reasonably practicable to comply with
                the
                regulations or operating procedures of any recognised clearing or
                settlement system used by the Facility Agent for that
                purpose.

            

       

      	(d)           
              (i)  	
              Nothing
                in this Agreement will oblige any Administrative Party to carry out
                any
                know your customer requirement or other checks in relation to any
                person
                on behalf of any Finance Party.

            

       

      	(ii)  	
              Each
                Finance Party confirms to each Administrative Party that it is solely
                responsible for any know your customer requirements or checks it
                is
                required to carry out and that it may not rely on any statement in
                relation to those requirements or checks made by any of the Administrative
                Parties.

            

       

      	20.9  	
              Default

            

       

      	(a)  	
              The
                Facility Agent is not obliged to monitor or enquire whether a Default
                has
                occurred. The Facility Agent is not deemed to have knowledge of the
                occurrence of a Default.

            

       

      	(b)  	
              If
                the Facility Agent:

            

       

      	(i)  	
              receives
                notice from a Party referring to this Agreement, describing a Default
                and
                stating that the circumstances described is a Default;
                or

            

       

      	(ii)  	
              is
                aware of the non-payment of any principal, interest or fee payable
                to a
                Finance Party (other than the Facility Agent or a Mandated Lead Arranger)
                under this Agreement,

            

       

        it
        must
        promptly notify the other Finance Parties.

       

      	20.10  	
              Information

            

       

      	(a)  	
              The
                Facility Agent must promptly forward to a Party the original or a
                copy of
                any document which is delivered to the Facility Agent by a Party
                for any
                other Party.

            

       

      	(b)  	
              Except
                where a Finance Document specifically provides otherwise, the Facility
                Agent is not obliged to review or check the adequacy, accuracy or
                completeness of any document it forwards to another
                Party.

            

       

      	(c)  	
              Except
                as provided above, the Facility Agent has no
                duty:

            

       

      	(i)  	
              either
                initially or on a continuing basis to provide any Lender with any
                credit
                or other information concerning the risks arising under or in connection
                with the Finance Documents (including any information relating to
                the
                financial condition or affairs of any Obligor or its related entities
                or
                the nature or extent of recourse against any Party or its assets)
                whether
                coming into its possession before, on or after the date of this Agreement;
                or

            

       

      	(ii)  	
              unless
                specifically requested to do so by a Lender in accordance with a
                Finance
                Document, to request any certificate or other document from any
                Obligor.

            

       

      	(d)  	
              In
                acting as Facility Agent for the Finance Parties, the agency division
                of
                the Facility Agent is treated as a separate entity from its other
                divisions and departments. If information is received by another
                division
                or department of the Facility Agent, it may be treated as confidential
                to
                that division or department and the Facility Agent shall not be deemed
                to
                have notice of it.

            

       

      	(e)  	
              The
                Facility Agent is not obliged to disclose to any person any confidential
                information supplied to it by or on behalf of a member of the Group
                solely
                for the purpose of evaluating whether any waiver or amendment is
                required
                in respect of any term of the Finance
                Documents.

            

       

      	(f)  	
              Each
                Obligor irrevocably authorises the Facility Agent to disclose to
                the other
                Finance Parties any information which, in its opinion, is received
                by it
                in its capacity as the Facility Agent.

            

       

      	20.11  	
              Indemnities

            

       

      	(a)  	
              Without
                limiting the liability of any Obligor under the Finance Documents,
                each
                Lender must indemnify the Facility Agent, within three Business Days
                of
                demand, for that Lender's Pro Rata Share of any cost, loss or liability
                incurred by the Facility Agent in acting as the Facility Agent under
                the
                Finance Documents (unless the Facility Agent has been reimbursed
                by an
                Obligor under a Finance Document), except to the extent that the
                cost,
                loss or liability is caused by the Facility Agent's gross negligence
                or
                wilful misconduct.

            

       

      	(b)  	
              If
                a Party owes an amount to the Facility Agent under the Finance Documents,
                the Facility Agent may, after giving notice to that
                Party:

            

       

      	(i)  	
              deduct
                from any amount received by it for that Party any amount due to the
                Facility Agent from that Party under a Finance Document but unpaid;
                and

            

       

      	(ii)  	
              apply
                that amount in or towards satisfaction of the owed
                amount.

            

       

        That
        Party will be regarded as having received the amount so deducted.

       

      	20.12  	
              Compliance

            

       

        Each
        Administrative Party may refrain from doing anything (including disclosing
        any
        information) which might, in its opinion, constitute a breach of any law
        or
        regulation or be otherwise actionable at the suit of any person, and may
        do
        anything which, in its opinion, is necessary or desirable to comply with
        any law
        or regulation.

       

      	20.13  	
              Resignation
                of the Facility Agent

            

       

      	(a)  	
              The
                Facility Agent may resign and appoint any of its Affiliates as successor
                Facility Agent by giving notice to the other Finance Parties, the
                Company
                and the Guarantor.

            

       

      	(b)  	
              Alternatively,
                the Facility Agent may resign by giving notice to the Finance Parties,
                the
                Company and the Guarantor, in which case the Majority Lenders may
                appoint
                a successor Facility Agent.

            

       

      	(c)  	
              If
                no successor Facility Agent has been appointed under
                paragraph (b)
                above
                within 30 days after notice of resignation was given, the Facility
                Agent may appoint a successor Facility
                Agent.

            

       

      	(d)  	
              The
                person(s) appointing a successor Facility Agent must, if practicable,
                consult with the Company and the Guarantor prior to the appointment.
                Any
                successor Facility Agent must have an office in the
                U.K.

            

       

      	(e)  	
              The
                resignation of the Facility Agent and the appointment of any successor
                Facility Agent will both become effective only when the successor
                Facility
                Agent notifies all the Parties that it accepts its appointment. On
                giving
                the notification, the successor Facility Agent will succeed to the
                position of the Facility Agent and the term Facility
                Agent
                will mean the successor Facility Agent.

            

       

      	(f)  	
              The
                retiring Facility Agent must, at its own cost, make available to
                the
                successor Facility Agent such documents and records and provide such
                assistance as the successor Facility Agent may reasonably request
                for the
                purposes of performing its functions as the Facility Agent under
                the
                Finance Documents.

            

       

      	(g)  	
              Upon
                its resignation becoming effective, this Clause will continue to
                benefit the retiring Facility Agent in respect of any action taken
                or not
                taken by it in connection with the Finance Documents while it was
                the
                Facility Agent, and, subject to paragraph (f)
                above,
                it will have no further obligations under any Finance
                Document.

            

       

      	20.14  	
              Relationship
                with Lenders

            

       

      	(a)  	
              The
                Facility Agent may treat each Lender as a Lender, entitled to payments
                under this Agreement and as acting through its Facility Office(s)
                unless
                it has received not less than five Business Days' prior notice from
                that
                Lender to the contrary in accordance with the terms of this
                Agreement.

            

       

      	(b)  	
              The
                Facility Agent may at any time, and must if requested to do so by
                the
                Majority Lenders, convene a meeting of the
                Lenders.

            

       

      	(c)  	
              The
                Facility Agent must keep a record of all the Parties and supply any
                other
                Party with a copy of the record on request. The record will include
                each
                Lender's Facility Office(s) and contact details for the purposes
                of this
                Agreement.

            

       

      	(d)  	
              Each
                Lender must supply the Facility Agent with any information required
                by the
                Facility Agent in order to calculate the Mandatory Cost in accordance
                with
                Schedule
                4
                (Calculation
                of the Mandatory Cost).

            

       

      	20.15  	
              Notice
                period

            

       

        Where
        this Agreement specifies a minimum period of notice to be given to the Facility
        Agent, the Facility Agent may, at its discretion, accept a shorter notice
        period.

       

      	20.16  	
              Deduction
                from amounts payable by the Facility
                Agent

            

       

        If
        any
        Party owes an amount to the Facility Agent under the Finance Documents the
        Facility Agent may, after giving notice to that Party, deduct an amount not
        exceeding that amount from any payment to that Party which the Facility Agent
        would otherwise be obliged to make under the Finance Documents and apply
        the
        amount deducted in or towards satisfaction of the amount owed. For the purposes
        of the Finance Documents that Party must be regarded as having received any
        amount so deducted.

       

      	21.  	
              EVIDENCE
                AND CALCULATIONS

            

       

      	21.1  	
              Accounts

            

       

        Accounts
        maintained by a Finance Party in connection with this Agreement are prima
        facie
        evidence of the matters to which they relate for the purpose of any litigation
        or arbitration proceedings.

       

      	21.2  	
              Certificates
                and determinations

            

       

        Any
        certification or determination by a Finance Party of a rate or amount under
        the
        Finance Documents will be, in the absence of manifest error, conclusive evidence
        of the matters to which it relates.

       

      	21.3  	
              Calculations

            

       

        Any
        interest or fee accruing under this Agreement accrues from day to day and
        is
        calculated on the basis of the actual number of days elapsed and a year of
        360
        days or if market practice differs, in accordance with market
        practice.

       

      	22.  	
              FEES

            

       

      	22.1  	
              Facility
                Agent's fee

            

       

        The
        Company must pay to the Facility Agent for its own account an agency fee
        in the
        manner agreed in the Fee Letter between the Facility Agent and the
        Company.

       

      	22.2  	
              Participation
                fees

            

       

        The
        Company must pay to the Mandated Lead Arrangers
        or the
        Facility Agent, as applicable, the participation fees in the manner agreed
        in
        the Fee Letter between the Mandated Lead Arrangers
        and the
        Company.

       

      	22.3  	
              Arrangement
                fees

            

       

        The
        Company must pay to each of the Mandated Lead Arrangers
        for
their
        own
        account the arrangement fees in the manner agreed in each Fee Letter between
        a
        Mandated Lead Arranger and the Company.

       

      	23.  	
              INDEMNITIES
                AND BREAK COSTS

            

       

      	23.1  	
              Currency
                indemnity

            

       

      	(a)  	
              The
                Company must, as an independent obligation, indemnify each Finance
                Party
                against any loss or liability which that Finance Party incurs as
                a
                consequence of:

            

       

      	(i)  	
              that
                Finance Party receiving an amount in respect of an Obligor's liability
                under the Finance Documents; or

            

       

      	(ii)  	
              that
                liability being converted into a claim, proof, judgment or
                order,

            

       

        in
        a
        currency other than the currency in which the amount is expressed to be payable
        under the relevant Finance Document.

       

      	(b)  	
              Unless
                otherwise required by law, each Obligor waives any right it may have
                in
                any jurisdiction to pay any amount under the Finance Documents in
                a
                currency other than that in which it is expressed to be
                payable.

            

       

      	23.2  	
              Other
                indemnities

            

       

      	(a)  	
              The
                Company must indemnify each Finance Party against any loss or liability
                which that Finance Party incurs as a consequence
                of:

            

       

      	(i)  	
              the
                occurrence of any Event of Default;

            

       

      	(ii)  	
              any
                failure by an Obligor to pay any amount due under a Finance Document
                on
                its due date, including any resulting from any distribution or
                redistribution of any amount among the Lenders under this
                Agreement;

            

       

      	(iii)  	
              (other
                than by reason of the gross negligence, wilful misfeasance or default
                by
                that Finance Party) the Loan not being made after the Request has
                been
                delivered;

            

       

      	(iv)  	
              the
                Loan (or part of the Loan) not being prepaid in accordance with this
                Agreement; or

            

       

      	(v)  	
              any
                representation made under Clause 16.16
                (Dutch
                Banking Act)
                or Clause 26.2
                (Assignments
                and transfers by Lenders)
                being incorrect when made or deemed to be made. A Lender which makes
                a
                representation which is untrue in relation to its status as a Professional
                Market Party or its status as part of a closed circle (besloten
                kring)
                cannot make a demand under this
                paragraph.

            

       

        The
        Company's liability in each case includes any loss or expense on account
        of
        funds borrowed, contracted for or utilised to fund any amount payable under
        any
        Finance Document or any Loan.

       

      	(b)  	
              The
                Company must indemnify the Facility Agent against any loss or liability
                incurred by the Facility Agent (acting reasonably) as a result
                of:

            

       

      	(i)  	
              investigating
                any event which the Facility Agent reasonably believes to be a Default;
                or

            

       

      	(ii)  	
              acting
                or relying on any notice which the Facility Agent reasonably believes
                to
                be genuine, correct and appropriately
                authorised.

            

       

      	23.3  	
              Break
                Costs

            

       

      	(a)  	
              The
                Company must pay to each Lender its Break Costs if the Loan or an
                overdue
                amount is repaid or prepaid other than on the last day of any Interest
                Period applicable to it.

            

       

      	(b)  	
              Break
                Costs are the amount (if any) determined by the relevant Lender acting
                reasonably, by which:

            

       

      	(i)  	
              the
                interest (excluding Margin) which that Lender would have received
                for the
                period from the date of receipt of any part of its share in the Loan
                or an
                overdue amount to the last day of the applicable Interest Period
                for that
                Loan or overdue amount if the principal or overdue amount received
                had
                been paid on the last day of that Interest
                Period;

            

       

        exceeds

       

      	(ii)  	
              the
                amount which that Lender would be able to obtain by placing an amount
                equal to the amount received by it on deposit with a leading bank
                in the
                appropriate interbank market for a period starting on the Business
                Day
                following receipt and ending on the last day of the applicable Interest
                Period.

            

       

      	(c)  	
              Each
                Lender must supply to the Facility Agent for the Company and the
                Guarantor
                details of the amount of any Break Costs claimed by it under this
                Subclause.

            

       

      	24.  	
              EXPENSES

            

       

      	24.1  	
              Initial
                costs

            

       

        The
        Company must pay to the Facility Agent the amount of all costs and expenses
        (including fees of legal counsel to the Facility Agent only) reasonably and
        properly incurred by it in connection with the negotiation, preparation,
        printing, entry into, syndication and execution of the Finance Documents
        provided that the Company and the Guarantor approved such costs and expenses
        prior to their being incurred.

       

      	24.2  	
              Subsequent
                costs

            

       

        The
        Company must pay to the Facility Agent the amount of all costs and expenses
        (including legal fees) reasonably incurred by it in connection
        with:

       

      	(a)  	
              the
                negotiation, preparation, printing and entry into of any Finance
                Document
                (other than a Transfer Certificate) executed after the date of this
                Agreement; 

            

       

      	(b)  	
              any
                amendment, waiver or consent requested by or on behalf of an Obligor
                provided that the Company and the Guarantor approved such costs and
                expenses prior to their being incurred;
                and

            

       

      	(c)  	
              any
                amendment, waiver or consent specifically allowed by this
                Agreement.

            

       

      	24.3  	
              Enforcement
                costs

            

       

        The
        Company must pay to each Finance Party the amount of all costs and expenses
        (including legal fees) incurred by it in connection with the enforcement
        of, or
        the preservation of any rights under, any Finance Document.

       

      	24.4  	
              Timing
                for payments of costs

            

       

        All
        payments under this Clause will be due within thirty days of demand by the
        relevant Finance Party. 

       

      	25.  	
              AMENDMENTS
                AND WAIVERS

            

       

      	25.1  	
              Procedure

            

       

      	(a)  	
              Except
                as provided in this Clause, any term of the Finance Documents may
                only be
                amended, replaced or waived with the agreement of the Company, the
                Guarantor and the Majority Lenders. The Facility Agent may effect,
                on
                behalf of any Finance Party, an amendment or waiver allowed under
                this
                Clause.

            

       

      	(b)  	
              The
                Facility Agent must promptly notify the other Parties of any amendment
                or
                waiver effected by it under paragraph (a)
                above.
                Any such amendment or waiver is binding on all the
                Parties.

            

       

      	25.2  	
              Exceptions

            

       

      	(a)  	
              An
                amendment or waiver which relates to:

            

       

      	(i)  	
              the
                definition of Majority
                Lenders
                in
                Clause 1.1
                (Definitions);

            

       

      	(ii)  	
              an
                extension of the date of payment of any amount to a Lender under
                the
                Finance Documents;

            

       

      	(iii)  	
              a
                reduction in the Margin or a reduction in the amount of any payment
                of
                principal, interest, fee or other amount payable to a Lender under
                the
                Finance Documents;

            

       

      	(iv)  	
              an
                increase in, or an extension of, a Commitment or the Total Commitments
                (except as expressly provided in Clause 2.3
                (Extension
                Option);

            

       

      	(v)  	
              a
                release of an Obligor other than in accordance with the terms of
                this
                Agreement; 

            

       

      	(vi)  	
              a
                term of a Finance Document which expressly requires the consent of
                each
                Lender;

            

       

      	(vii)  	
              the
                right of a Lender to assign or transfer its rights or obligations
                under
                the Finance Documents; or

            

       

      	(viii)  	
              this
                Clause,

            

       

        may
        only
        be made with the consent of all the Lenders.

       

      	(b)  	
              An
                amendment or waiver which relates to the rights or obligations of
                an
                Administrative Party may only be made with the consent of that
                Administrative Party.

            

       

      	(c)  	
              A
                Fee Letter may be amended or waived with the agreement of the
                Administrative Party that is a party to that Fee Letter and the Company
                and the Guarantor.

            

       

      	25.3  	
              Change
                of currency

            

       

        If
        a
        change in any currency of a country occurs (including where there is more
        than
        one currency or currency unit recognised at the same time as the lawful currency
        of a country), the Finance Documents will be amended to the extent the Facility
        Agent (acting reasonably and after consultation with the Company) determines
        is
        necessary to reflect the change.

       

      	25.4  	
              Waivers
                and remedies cumulative

            

       

        The
        rights and remedies of each Finance Party under the Finance
        Documents:

       

      	(a)  	
              may
                be exercised as often as necessary;

            

       

      	(b)  	
              are
                cumulative and not exclusive of its rights or remedies under the
                general
                law; and

            

       

      	(c)  	
              may
                be waived only in writing and
                specifically.

            

       

        Delay
        in
        exercising or non-exercise of any right or remedy is not a waiver of that
        right
        or remedy.

       

      	26.  	
              CHANGES
                TO THE PARTIES

            

       

      	26.1  	
              Assignments
                and transfers by Obligors

            

       

        Neither
        Obligor may assign or transfer any of its rights and obligations under the
        Finance Documents without the prior consent of all the Lenders.

       

      	26.2  	
              Assignments
                and transfers by Lenders

            

       

      	(a)  	
              A
                Lender (the Existing
                Lender)
                may, subject to the following provisions of this Subclause, at any
                time
                assign or transfer (including by way of novation) any of its rights
                and
                obligations under this Agreement to any other person (the New
                Lender).

            

       

      	(b)  	
              Unless
                the Guarantor and the Facility Agent otherwise agree and except as
                provided below, a transfer of part of a Commitment or part of its
                rights
                and obligations under this Agreement by the Existing Lender must
                be in a
                minimum amount of US$5,000,000 and an integral multiple of
                US$1,000,000.

            

       

      	(c)  	
              The
                consent of the Guarantor is required for any assignment or transfer
                unless:

            

       

      	(i)  	
              the
                assignment is by way of security to any U.S. Federal Reserve Bank;
                

            

       

      	(ii)  	
              the
                New Lender is another Lender or an Affiliate of a Lender, in which
                case
                prior written notice must be given by the Existing Lender to the
                Company,
                the Guarantor and the Facility Agent; or

            

       

      	(iii)  	
              an
                Event of Default is outstanding.

            

       

        The
        consent of the Guarantor must not be unreasonably withheld or delayed. The
        Guarantor will be deemed to have given its consent five Business Days after
        the
        Guarantor is given notice of the request unless it is expressly refused by
        the
        Guarantor within that time.

       

      	(d)  	
              The
                Facility Agent is not obliged to execute a Transfer Certificate or
                otherwise give effect to an assignment or transfer until it has completed
                all know your customer requirements to its satisfaction. The Facility
                Agent must promptly notify the Existing Lender and the New Lender
                if there
                are any such requirements.

            

       

      	(e)  	
              If
                the consent of the Guarantor is required for any assignment or transfer
                (irrespective of whether it may be unreasonably withheld or not),
                the
                Facility Agent is not obliged to execute a Transfer Certificate if
                the
                Guarantor withholds its consent.

            

       

      	(f)    (i)  	
              If,
                on the date of an assignment or transfer, it is a requirement of
                Dutch law
                that each Lender must be a Professional Market
                Party:

            

       

      	(A)  	
              unless
                the New Lender is a Professional Market Party, the consent of the
                Company
                is required for any assignment or
                transfer;

            

       

      	(B)  	
              the
                Company's consent must not be unreasonably withheld or
                delayed;

            

       

      	(C)  	
              the
                Company will be deemed to have given its consent five Business Days
                after
                the Company and the Guarantor are given written notice of the request
                together with a copy of a Transfer Certificate signed by the New
                Lender
                confirming that it is a Professional Market Party or forms part of
                a
                closed circle with the Company unless it is expressly refused by
                the
                Company within that time because either:

            

       

      	I.  	
              the
                proposed New Lender is not a Professional Market Party or does not
                form
                part of a closed circle (besloten
                kring)
                with the Company; or

            

       

      	II.  	
              the
                Company has demonstrated that it is in good faith unable to determine
                with
                certainty whether the proposed New Lender is a Professional Market
                Party
                or forms part of a closed circle (besloten
                kring)
                with the Company;

            

       

      	(D)  	
              the
                New Lender must comply with the obligations set out in paragraph
                (ii)
                below;

            

       

      	(E)  	
              the
                Company must make the representation set out in paragraph (iii)
                below;
                and

            

       

      	(F)  	
              no
                assignment or transfer will be effective unless both the New Lender
                and
                the Company have complied with the requirements of this
                Subclause.

            

       

      	(ii)  	
              On
                the date the assignment or transfer becomes effective the New Lender
                must
                make the representation on the terms set out in paragraph 3 of the
                Transfer Certificate.

            

       

      	(iii)  	
              On
                the date that a New Lender becomes party to this Agreement as a Lender
                the
                Company represents that on that date it has verified the status of
                that
                New Lender either as:

            

       

      	(A)  	
              a
                Professional Market Party under the Dutch Exemption
                Regulation; 

            

       

      	(B)  	
              exempted
                from the requirement to be a Professional Market Party because it
                forms
                part of a closed circle (besloten
                kring)
                with the Company; or

            

       

      	(C)  	
              The
                Company will be deemed to have complied with its verification obligation
                set out under (A)
                above,
                if it could reasonably assume that the New Lender concerned is a
                Professional Market Party on the basis
                of:

            

       

      	I.  	
              information
                from public registers;

            

       

      	II.  	
              information
                from a recognised rating institution within the meaning of the Dutch
                capital adequacy rules for credit institutions as set out in the
                Credit
                System Supervision Manual (Handboek
                Wtk)
                part 9001-02;

            

       

      	III.  	
              information
                received from such New Lender; or

            

       

      	IV.  	
              an
                express confirmation from such New
                Lender.

            

       

      	(g)  	
              An
                assignment of rights will only be effective if the New Lender confirms
                to
                the Facility Agent, the Company, and the Guarantor in form and substance
                satisfactory to the Facility Agent that it is bound by obligations
                to the
                other Finance Parties under this Agreement equivalent to those it
                would
                have been under if it were an Original
                Lender.

            

       

      	(h)  	
              A
                transfer of obligations will be effective only if
                either:

            

       

      	(i)  	
              rights
                are assigned and obligations released and equivalent obligations
                assumed
                in accordance with the following provisions of this Clause;
                or

            

       

      	(ii)  	
              the
                obligations are novated in accordance with the following provisions
                of
                this Clause.

            

       

      	(i)  	
              Unless
                the Facility Agent otherwise agrees, the New Lender must pay to the
                Facility Agent for its own account, on or before the date any assignment
                or transfer occurs, a fee of US$3,500.

            

       

      	(j)  	
              Any
                reference in this Agreement to a Lender includes a New Lender but
                excludes
                a Lender if no amount is or may be owed to or by it under this
                Agreement.

            

       

      	26.3  	
              Transfer
                Certificates

            

       

      	(a)  	
              In
                this Subclause:

            

       

        Transfer
        Date
        means,
        for a Transfer Certificate, the later of:

       

      	(i)  	
              the
                proposed Transfer Date specified in that Transfer
                Certificate;

            

       

      	(ii)  	
              the
                date on which the Facility Agent executes that Transfer Certificate;
                and

            

       

        a
        reference to an assignment includes any related release and
        assumption.

       

      	(b)  	
              An
                assignment or novation is effected if:

            

       

      	(i)  	
              the
                Existing Lender and the New Lender deliver to the Facility Agent
                a duly
                completed Transfer Certificate; and

            

       

      	(ii)  	
              the
                Facility Agent executes it.

            

       

        The
        Facility Agent must execute as soon as reasonably practicable a Transfer
        Certificate delivered to it and which appears on its face to be in
        order.

       

      	(c)  	
              Each
                Finance Party (other than the Existing Lender and the New Lender)
                irrevocably authorises the Facility Agent to execute any duly completed
                Transfer Certificate on its behalf.

            

       

      	(d)  	
              For
                a transfer by assignment on the Transfer
                Date:

            

       

      	(i)  	
              the
                Existing Lender will assign absolutely to the New Lender the Existing
                Lender's rights expressed to be the subject of the assignment in
                the
                Transfer Certificate;

            

       

      	(ii)  	
              the
                Existing Lender will be released from the obligations expressed to
                be the
                subject of the release in the Transfer Certificate;
                and

            

       

      	(iii)  	
              the
                New Lender will become a Lender under this Agreement and will be
                bound by
                obligations equivalent to those from which the Existing Lender is
                released
                under sub-paragraph (ii)
                above.

            

       

      	(e)  	
              For
                a transfer by novation on the Transfer
                Date:

            

       

      	(i)  	
              the
                New Lender will assume the rights and obligations of the Existing
                Lender
                expressed to be the subject of the novation in the Transfer Certificate
                in
                substitution for the Existing Lender;

            

       

      	(ii)  	
              the
                Existing Lender will be released from those obligations and cease
                to have
                those rights; and

            

       

      	(iii)  	
              the
                New Lender will become a Lender under this Agreement and be bound
                by the
                terms of this Agreement as a Lender.

            

       

      	(f)  	
              The
                Facility Agent must, as soon as reasonably practicable after it has
                executed a Transfer Certificate, send a copy of that Transfer Certificate
                to the Company and the Guarantor.

            

       

      	26.4  	
              Limitation
                of responsibility of Existing
                Lender

            

       

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

            

       

      	(i)  	
              the
                financial condition of an Obligor; or

            

       

      	(ii)  	
              the
                legality, validity, effectiveness, enforceability, adequacy, accuracy,
                completeness or performance of:

            

       

      	(A)  	
              any
                Finance Document or any other document;

            

       

      	(B)  	
              any
                statement or information (whether written or oral) made in or supplied
                in
                connection with any Finance Document, or

            

       

      	(C)  	
              any
                observance by any Obligor of its obligations under any Finance Document
                or
                any other documents,

            

       

        and
        any
        representations or warranties implied by law are excluded.

       

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

            

       

      	(i)  	
              has
                made, and will continue to make, its own independent appraisal of
                all
                risks arising under or in connection with the Finance Documents (including
                the financial condition and affairs of each Obligor and its related
                entities and the nature and extent of any recourse against any Party
                or
                its assets) in connection with its participation in this Agreement;
                and

            

       

      	(ii)  	
              has
                not relied exclusively on any information supplied to it by the Existing
                Lender in connection with any Finance
                Document.

            

       

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

            

       

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

            

       

      	(ii)  	
              support
                any losses incurred by the New Lender by reason of the non-performance
                by
                either Obligor of its obligations under any Finance Document or
                otherwise.

            

       

      	26.5  	
              Participations

            

       

        Any
        Lender may at any time, without the consent of the Company, the Guarantor
        or the
        Facility Agent and without notice to the Facility Agent, sell participations
        to
        any person in all or a portion of such Lender's rights and/or obligations
        under
        this Agreement (including all or a portion of its Commitment and/or the Loans
        owing to it) provided 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.

       

      	26.6  	
              Costs
                resulting from change of Lender or Facility
                Office

            

       

        If:

       

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

            

       

      	(b)  	
              as
                a result of circumstances existing at the date the assignment, transfer
                or
                change occurs, an Obligor would be obliged to pay a Tax Payment or
                an
                Increased Cost,

            

       

        then
        the
        relevant Obligor need only pay that Tax Payment or Increased Cost to the
        same
        extent that it would have been obliged to if no assignment, transfer or change
        had occurred.

       

      	26.7  	
              Changes
                to the Reference Banks

            

       

        If
        a
        Reference Bank (or, if a Reference Bank is not a Lender, the Lender of which
        it
        is an Affiliate) ceases to be a Lender, the Facility Agent must (in consultation
        with the Company and the Guarantor) appoint another Lender or an Affiliate
        of a
        Lender to replace that Reference Bank.

       

      	27.  	
              DISCLOSURE
                OF INFORMATION

            

       

      	(a)  	
              Each
                Finance Party must keep confidential any information supplied to
                it by or
                on behalf of any Obligor in connection with the Finance Documents.
                However, subject to the terms of any confidentiality agreement then
                binding between an Obligor and the Finance Party, a Finance Party
                is
                entitled to disclose information:

            

       

      	(i)  	
              which
                is publicly available, other than as a result of a breach by that
                Finance
                Party of this Clause;

            

       

      	(ii)  	
              in
                connection with any legal or arbitration proceedings provided that
                to the
                extent practicable under the circumstances and lawful, that Finance
                Party
                shall provide the Obligors with prompt notice of the requested disclosure
                so that any Obligor may seek an order protecting against or limiting
                such
                disclosure;

            

       

      	(iii)  	
              if
                required to do so under any law or
                regulation;

            

       

      	(iv)  	
              to
                a governmental, banking, taxation or other regulatory
                authority;

            

       

      	(v)  	
              to
                its professional advisers;

            

       

      	(vi)  	
              to
                any rating agency;

            

       

      	(vii)  	
              to
                the extent allowed under paragraph (b)
                below;

            

       

      	(viii)  	
              to
                another Obligor; or

            

       

      	(ix)  	
              with
                the agreement of the relevant Obligor.

            

       

      	(b)  	
              A
                Finance Party may disclose to an Affiliate or any person with whom
                it may
                enter, or has entered into, any kind of transfer, participation or
                other
                agreement in relation to this Agreement (a participant):

            

       

      	(i)  	
              a
                copy of any Finance Document; and

            

       

      	(ii)  	
              any
                information which that Finance Party has acquired under or in connection
                with any Finance Document.

            

       

        However,
        before a participant may receive any confidential information, it must agree
        with the relevant Finance Party to keep that information confidential on
        the
        terms of paragraph (a)
        above.

       

      	28.  	
              SET-OFF

            

       

        A
        Finance
        Party may set off any matured obligation owed to it by an Obligor under the
        Finance Documents (to the extent beneficially owned by that Finance Party)
        against any matured obligation owed by that Finance Party to an Obligor,
        regardless of the place of payment, booking branch or currency of either
        obligation. If the obligations are in different currencies, the Finance Party
        may convert either obligation at a market rate of exchange in its usual course
        of business for the purpose of the set-off.

       

      	29.  	
              PRO
                RATA SHARING

            

       

      	29.1  	
              Redistribution

            

       

        If
        any
        amount owing by an Obligor under this Agreement to a Finance Party (the
recovering
        Finance Party)
        is
        discharged by payment, set-off or any other manner other than in accordance
        with
        this Agreement (a recovery),
        then:

       

      	(a)  	
              the
                recovering Finance Party must, within three Business Days, supply
                details
                of the recovery to the Facility Agent;

            

       

      	(b)  	
              the
                Facility Agent must calculate whether the recovery is in excess of
                the
                amount which the recovering Finance Party would have received if
                the
                recovery had been received and distributed by the Facility Agent
                under
                this Agreement; and

            

       

      	(c)  	
              the
                recovering Finance Party must pay to the Facility Agent an amount
                equal to
                the excess (the redistribution).

            

       

      	29.2  	
              Effect
                of redistribution

            

       

      	(a)  	
              The
                Facility Agent must treat a redistribution as if it were a payment
                by the
                relevant Obligor under this Agreement and distribute it among the
                Finance
                Parties, other than the recovering Finance Party,
                accordingly.

            

       

      	(b)  	
              When
                the Facility Agent makes a distribution under paragraph (a)
                above,
                the recovering Finance Party will be subrogated to the rights of
                the
                Finance Parties which have shared in that
                redistribution.

            

       

      	(c)  	
              If
                and to the extent that the recovering Finance Party is not able to
                rely on
                any rights of subrogation under paragraph (b)
                above,
                the relevant Obligor will owe the recovering Finance Party a debt
                which is
                equal to the redistribution, immediately payable and of the type
                originally discharged.

            

       

      	(d)  	
              If:

            

       

      	(i)  	
              a
                recovering Finance Party must subsequently return a recovery, or
                an amount
                measured by reference to a recovery, to an Obligor;
                and

            

       

      	(ii)  	
              the
                recovering Finance Party has paid a redistribution in relation to
                that
                recovery,

            

       

        each
        Finance Party must reimburse the recovering Finance Party all or the appropriate
        portion of the redistribution paid to that Finance Party, together with interest
        for the period while it held the redistribution. In this event, the subrogation
        in paragraph (b)
        above
        will
        operate in reverse to the extent of the reimbursement.

       

      	29.3  	
              Exceptions

            

       

        Notwithstanding
        any other term of this Clause, a recovering Finance Party need not pay a
        redistribution to the extent that:

       

      	(a)  	
              it
                would not, after the payment, have a valid claim against the relevant
                Obligor in the amount of the redistribution;
                or

            

       

      	(b)  	
              it
                would be sharing with another Finance Party any amount which the
                recovering Finance Party has received or recovered as a result of
                legal or
                arbitration proceedings, where:

            

       

      	(i)  	
              the
                recovering Finance Party notified the Facility Agent of those proceedings;
                and

            

       

      	(ii)  	
              the
                other Finance Party had an opportunity to participate in those proceedings
                but did not do so or did not take separate legal or arbitration
                proceedings as soon as reasonably practicable after receiving notice
                of
                them.

            

       

      	30.  	
              SEVERABILITY

            

       

        If
        a term
        of a Finance Document is or becomes illegal, invalid or unenforceable in
        any
        respect under any jurisdiction, that will not affect:

       

      	(a)  	
              the
                legality, validity or enforceability in that jurisdiction of any
                other
                term of the Finance Documents; or

            

       

      	(b)  	
              the
                legality, validity or enforceability in other jurisdictions of that
                or any
                other term of the Finance Documents.

            

       

      	31.  	
              COUNTERPARTS

            

       

        Each
        Finance Document may be executed in any number of counterparts. This has
        the
        same effect as if the signatures on the counterparts were on a single copy
        of
        the Finance Document.

       

      	32.  	
              NOTICES

            

       

      	32.1  	
              In
                writing

            

       

      	(a)  	
              Any
                communication to be made under or in connection with a Finance Document
                must be in writing and, unless otherwise stated, may be
                given:

            

       

      	(i)  	
              in
                person, by post, fax; or

            

       

      	(ii)  	
              to
                the extent agreed by the Parties making and receiving communication,
                by
                e-mail or other electronic communication.

            

       

      	(b)  	
              For
                the purpose of the Finance Documents, an electronic communication
                will be
                treated as being in writing.

            

       

      	(c)  	
              Unless
                it is agreed to the contrary, any consent or agreement required under
                a
                Finance Document must be given in
                writing.

            

       

      	32.2  	
              Contact
                details

            

       

      	(a)  	
              Except
                as provided below, the contact details of each Party for all
                communications in connection with the Finance Documents are those
                notified
                by that Party for this purpose to the Facility Agent on or before
                the date
                it becomes a Party.

            

       

      	(b)  	
              The
                contact details of the Company for this purpose
                are:

            

       

        Address:Koolhovenlaan
        110, 1119 NH Schiphol-Rijk, The Netherlands

             Fax
        number: +31
        20
        6554 651

             Attention: Financial
        Controller.

       

      	(c)  	
              The
                contact details of the Guarantor for this purpose
                are:

            

       

        Address:One
        Bausch & Lomb Place, Rochester, New York 14604

             Fax
        number: +1
        585
        338 8188

             Attention: Corporate
        Treasury Operations.

       

      	(d)  	
              The
                contact details of the Facility Agent for this purpose
                are:

            

       

        Address:Citigroup
        Centre, 33 Canada Square, Canary Wharf, London E14 5LB

             Fax
        number: +44
        (0)
        20 8636 3825

             E-mail: julian.wheeler@citigroup.com

             Attention: Julian
        Wheeler.

       

      	(e)  	
              Any
                Party may change its contact details by giving five Business Days'
                notice
                to the Facility Agent or (in the case of the Facility Agent) to the
                other
                Parties.

            

       

      	(f)  	
              Where
                a Party nominates a particular department or officer to receive a
                communication, a communication will not be effective if it fails
                to
                specify that department or officer.

            

       

      	32.3  	
              Effectiveness

            

       

      	(a)  	
              Except
                as provided below, any communication in connection with a Finance
                Document
                will be deemed to be given as follows:

            

       

      	(i)  	
              if
                delivered in person, at the time of
                delivery;

            

       

      	(ii)  	
              if
                posted, when received;

            

       

      	(iii)  	
              if
                by fax, when received in legible form;
                and

            

       

      	(iv)  	
              if
                by e-mail or any other electronic communication, when received in
                legible
                form.

            

       

      	(b)  	
              A
                communication given under paragraph (a)
                above
                but received on a non-working day or after business hours in the
                place of
                receipt will only be deemed to be given on the next working day in
                that
                place.

            

       

      	(c)  	
              A
                communication to the Facility Agent will only be effective on actual
                receipt by it.

            

       

      	32.4  	
              Obligors

            

       

      	(a)  	
              All
                communications under the Finance Documents to or from an Obligor
                must be
                sent through the Facility Agent.

            

       

      	32.5  	
              Use
                of websites

            

       

      	(a)  	
              Except
                as provided below, the Company may deliver any information under
                this
                Agreement to those Lenders (the Website
                Lenders)
                who accept this method of communication by posting it on to an electronic
                website if:

            

       

      	(i)  	
              the
                Facility Agent and the Lender expressly agree (after consultation
                with
                each of the Lenders);

            

       

      	(ii)  	
              the
                Company and the Facility Agent designate an electronic website for
                this
                purpose (the Designated
                Website);

            

       

      	(iii)  	
              both
                the Company and the Facility Agent are aware of the address of and
                relevant password specifications for the Designated Website;
                and

            

       

      	(iv)  	
              the
                information posted is in a format previously agreed between the Company
                and the Facility Agent.

            

       

        The
        Facility Agent must supply each Website Lender, the Company and the Guarantor
        with the address of and any relevant password specifications for the Designated
        Website following designation of that website by the Company and the Facility
        Agent.

       

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

            

       

      	(c)  	
              The
                Company must, promptly upon becoming aware of its occurrence, notify
                the
                Facility Agent if:

            

       

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

            

       

      	(ii)  	
              the
                Company becomes aware that the Designated Website or any information
                posted on to the Designated Website is or has been infected by any
                electronic virus or similar software;

            

       

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

            

       

      	(iv)  	
              the
                password specifications for the Designated Website change;
                or

            

       

      	(v)  	
              any
                existing information which has been provided under this Agreement
                and
                posted on to the Designated Website is
                amended.

            

       

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

       

      	(d)  	
              Notwithstanding
                paragraphs (a),
                (b)
                and (c)
                above,
                the Company may deliver any information under this Agreement to a
                Lender
                and/or the Facility Agent by posting it on the SEC's website at
                www.sec.gov, and such posting shall be deemed to satisfy any requirement
                to deliver such information.

            

       

      	33.  	
              LANGUAGE

            

       

      	(a)  	
              Any
                notice given in connection with a Finance Document must be in
                English.

            

       

      	(b)  	
              Any
                other document provided in connection with a Finance Document must
                be:

            

       

      	(i)  	
              in
                English; or

            

       

      	(ii)  	
              (unless
                the Facility Agent otherwise agrees) accompanied by a certified English
                translation. In this case, the English translation prevails unless
                the
                document is a statutory or other official
                document.

            

       

      	34.  	
              GOVERNING
                LAW

            

       

        This
        Agreement is governed by English law.

       

      	35.  	
              ENFORCEMENT

            

       

      	35.1  	
              Jurisdiction

            

       

      	(a)  	
              The
                English courts have exclusive jurisdiction to settle any dispute
                in
                connection with any Finance Document.

            

       

      	(b)  	
              The
                English courts are the most appropriate and convenient courts to
                settle
                any such dispute in connection with any Finance Document. Each Party
                agrees not to argue to the contrary and waives objection to those
                courts
                on the grounds of inconvenient forum or otherwise in relation to
                proceedings in connection with any Finance
                Document.

            

       

      	(c)  	
              This
                Clause is for the benefit of the Finance Parties only. To the extent
                allowed by law, a Finance Party may take:

            

       

      	(i)  	
              proceedings
                in any other court; and

            

       

      	(ii)  	
              concurrent
                proceedings in any number of
                jurisdictions.

            

       

      	(d)  	
              References
                in this Clause to a dispute in connection with a Finance Document
                includes
                any dispute as to the existence, validity or termination of that
                Finance
                Document.

            

       

      	35.2  	
              Service
                of process

            

       

      	(a)  	
              Each
                Obligor not incorporated in England and Wales irrevocably appoints
                Bausch
                & Lomb Incorporated of 106 - 114 London Road, Kingston-upon-Thames,
                Surrey KT2 6QJ as its agent under the Finance Documents for service
                of
                process in any proceedings before the English courts in connection
                with
                any Finance Document.

            

       

      	(b)  	
              If
                any person appointed as process agent under this Clause is unable
                for any
                reason to so act, the Company (on behalf of the Obligors) must immediately
                (and in any event within five days of the event taking place) appoint
                another agent on terms acceptable to the Facility Agent. Failing
                this, the
                Facility Agent may appoint another process agent for this
                purpose.

            

       

      	(c)  	
              Each
                Obligor agrees that failure by a process agent to notify it of any
                process
                will not invalidate the relevant
                proceedings.

            

       

      	(d)  	
              This
                Clause does not affect any other method of service allowed by
                law.

            

       

      	35.3  	
              Waiver
                of immunity

            

       

        Each
        Obligor irrevocably and unconditionally:

       

      	(a)  	
              agrees
                not to claim any immunity from proceedings brought by a Finance Party
                against it in relation to a Finance Document and to ensure that no
                such
                claim is made on its behalf;

            

       

      	(b)  	
              consents
                generally to the giving of any relief or the issue of any process
                in
                connection with those proceedings; and

            

       

      	(c)  	
              waives
                all rights of immunity in respect of it or its
                assets.

            

       

      	35.4  	
              Waiver
                of trial by jury

            

       

        EACH
        PARTY WAIVES ANY RIGHT IT MAY HAVE TO A JURY TRIAL OF ANY CLAIM OR CAUSE
        OF
        ACTION IN CONNECTION WITH ANY FINANCE DOCUMENT OR ANY TRANSACTION CONTEMPLATED
        BY ANY FINANCE DOCUMENT. THIS AGREEMENT MAY BE FILED AS A WRITTEN CONSENT
        TO
        TRIAL BY COURT.

       

      	35.5  	
              Patriot
                Act 

            

       

        Each
        Lender that is subject to the Patriot Act and the Facility Agent (for itself
        and
        not on behalf of any Lender) hereby notifies each Obligor that pursuant to
        the
        requirements of the Patriot Act, it is required to obtain, verify and record
        information that identifies the Obligors, which information includes the
        name
        and address of each Obligor and other information that will allow such Lender
        or
        the Facility Agent, as applicable, to identify the Obligors in accordance
        with
        the Patriot Act.

       

        THIS
        AGREEMENT has
        been
        entered into on the date stated at the beginning of this Agreement.

       

        
          

        

      

      SCHEDULE
        1 

      ORIGINAL
        PARTIES

      PART
        1

       

      ORIGINAL
        LENDERS
        AND COMMITMENTS

       

      

      
        	
                 

                Original
                  Lender

              	
                 

                Commitment
                  (US$)

              
	
                 

                CITIBANK
                  INTERNATIONAL PLC

                 

                JPMORGAN
                  CHASE BANK, N.A.

                 

                KEYBANK
                  NATIONAL ASSOCIATION

                 

                 

                 

                BANK
                  OF TOKYO-MITSUBISHI TRUST COMPANY

                 

                MIZUHO
                  CORPORATE BANK, LTD.

                 

                SOCIÉTÉ
                  GÉNÉRALE

                 

                 

                 

                BARCLAYS
                  BANK PLC

                 

                USBANK

                 

                THE
                  NORTHERN TRUST COMPANY

              	
                 

                85,000,000

                 

                60,000,000

                 

                60,000,000

                 

                 

                 

                40,000,000

                 

                40,000,000

                 

                40,000,000

                 

                 

                 

                20,000,000

                 

                20,000,000

                 

                10,000,000

              
	
                 

                Total
                  Commitments

              	
                 

                  ___________

                 

                  US$375,000,000

                 

                     
                  ___________

              

      

       

       

        
          

        

      

      PART
        2  

       

      MANDATED
        LEAD ARRANGERS

       

        CITIGROUP
        GLOBAL MARKETS LIMITED

       

        J.
        P.
        MORGAN PLC

       

        KEYBANC
        CAPITAL MARKETS

       

      

       

        
          

        

      

      SCHEDULE
        2

       

      CONDITIONS
        PRECEDENT DOCUMENTS

       

      Obligors

       

      	1.  	
              A
                copy of the constitutional documents of each
                Obligor.

            

       

      	2.  	
              A
                copy of (or a certified copy of an extract of) a resolution of the
                board
                of directors of each Obligor approving the terms of, and the transactions
                contemplated by, this Agreement.

            

       

      	3.  	
              A
                specimen of the signature of each person authorised on behalf of
                an
                Obligor to enter into or witness the entry into of any Finance Document
                or
                to sign or send any document or notice in connection with any Finance
                Document.

            

       

      	4.  	
              A
                certificate of each Obligor (signed by a director in the case of
                the
                Company and the company secretary in the case of the Guarantor) confirming
                that borrowing or guaranteeing, as appropriate, the Total Commitments
                would not cause any borrowing, guarantee or similar limit binding
                on any
                Obligor to be exceeded.

            

       

      	5.  	
              A
                certificate of an authorised signatory of each Obligor certifying
                that
                each copy document specified in this Schedule that relates to it
                is
                correct, complete and in full force and effect as at a date no earlier
                than the date of this Agreement.

            

       

      	6.  	
              Evidence
                that the agent of the Obligors under the Finance Documents for service
                of
                process in England and Wales has accepted its
                appointment.

            

       

      	7.  	
              A
                copy of a resolution of the managing board/supervisory board/shareholders
                in general meeting of the Company approving the terms of, and the
                transactions contemplated by, this
                Agreement.

            

       

      	8.  	
              An
                unconditional positive works council advice (advies)
                in respect of the transactions contemplated by this
                Agreement.

            

       

      	9.  	
              An
                extract of the registration of the Company in the trade register
                of the
                chamber of commerce.

            

       

      Legal
        opinions

       

      	10.  	
              A
                legal opinion of A. Robert D. Bailey, Vice President, Assistant General
                Counsel and Assistant Secretary to the Guarantor, addressed to the
                Finance
                Parties.

            

       

      	11.  	
              A
                legal opinion of Allen & Overy LLP, legal advisers in the Netherlands
                to the Mandated Lead Arrangers
                and the Facility Agent, addressed to the Finance
                Parties.

            

       

      	12.  	
              A
                legal opinion of Allen & Overy LLP, legal advisers in England to the
                Mandated Lead Arrangers
                and the Facility Agent, addressed to the Finance
                Parties.

            

       

      Other
        documents and evidence

       

      	13.  	
              Evidence
                that all fees and expenses then due and payable from the Company
                under
                this Agreement have been or will be paid by the first Utilisation
                Date.

            

       

      
        
          

        

      

      SCHEDULE
        3

       

      FORM
        OF REQUEST

       

        

       

        To:   
CITIBANK
        INTERNATIONAL PLC
        as
        Facility Agent

       

        From:  
[                               ]

       

        Date:    [                               ]

       

        

       

        BAUSCH
        & LOMB B.V. -
        US$375,000,000
        Credit Agreement

      dated
        29
        November, 2005 (the
        Agreement)

       

      	1.  	
              We
                refer to the Agreement. This is a
                Request.

            

       

      	2.  	
              We
                wish to borrow a Loan on the following
                terms:

            

       

      	(a)  	
              Utilisation
                Date:
                [                               ]

            

       

      	(b)  	
              Amount:
                [US$                                         ]

            

       

      	(c)  	
              Interest
                Period: 6 months.

            

       

      	3.  	
              Our
                payment instructions are:
                [                                    ].

            

       

      	4.  	
              We
                confirm that each condition precedent under the Agreement which must
                be
                satisfied on the date of this Request is so
                satisfied.

            

       

      	5.  	
              This
                Request is irrevocable.

            

       

        

       

        By:

       

        [                               ]

       

       

        
          

        

      

      SCHEDULE
        4

       

      CALCULATION
        OF THE MANDATORY COST

       

      	1.  	
              General

            

       

      	(a)  	
              The
                Mandatory Cost is to compensate a Lender for the cost of compliance
                with:

            

       

      	(i)  	
              the
                requirements of the Bank of England and/or the Financial Services
                Authority (or, in either case, any other authority which replaces
                any of
                its functions); or

            

       

      	(ii)  	
              the
                requirements of the European Central
                Bank.

            

       

      	(b)  	
              The
                Mandatory Cost is expressed as a percentage rate per
                annum.

            

       

      	(c)  	
              The
                Mandatory Cost is the weighted average (weighted in proportion to
                the
                percentage share of each Lender in the relevant Loan) of the rates
                for the
                Lenders calculated by the Facility Agent in accordance with this
                Schedule
                on the first day of an
                Interest Period
                (or as soon as possible after then).

            

       

      	(d)  	
              The
                Facility Agent must distribute each amount of Mandatory Cost among
                the
                Lenders on the basis of the rate for each
                Lender.

            

       

      	(e)  	
              Any
                determination by the Facility Agent pursuant to this Schedule will
                be, in
                the absence of manifest error, conclusive and binding on all the
                Parties.

            

       

      	2.  	
              For
                a Lender lending from a Facility Office in the
                U.K.

            

       

      	(a)  	
              The
                relevant rate for a Lender lending from a Facility Office in the
                U.K. is
                calculated in accordance with the following
                formula:

            

          

              Ex
        0.01 per cent. per annum

                
        300

          where
        on
        the day of application of the formula, E is calculated by the Facility Agent
        as
        being the average of the rates of  

           
charge under
        the
        fees rules supplied by the Reference Banks to the Facility Agent under paragraph
        (d)
        below
        and
        expressed 

           
in
        pounds per £1 million.

       

      	(b)  	
              For
                the purposes of this paragraph 2:

            

       

      	(i)  	
              fees
                rules
                means the then current rules on periodic fees in the Supervision
                Manual of
                the FSA Handbook or any other law or regulation as may then be in
                force
                for the payment of fees for the acceptance of
                deposits;

            

       

      	(ii)  	
              fee
                tariffs
                means the fee tariffs specified in the fees rules under fee-block
                Category
                A1 (Deposit acceptors) (ignoring any minimum fee or zero rated fee
                required pursuant to the fees rules but applying any applicable discount
                rate); and

            

       

      	(iii)  	
              tariff
                base
                has the meaning given to it in, and will be calculated in accordance
                with,
                the fees rules.

            

       

      	(c)  	
              Each
                rate calculated in accordance with the formula is, if necessary,
                rounded
                upward to four decimal places.

            

       

      	(d)  	
              If
                requested by the Facility Agent, each Reference Bank must, as soon
                as
                practicable after publication by the Financial Services Authority,
                supply
                to the Facility Agent the rate of charge payable by that Reference
                Bank to
                the Financial Services Authority under the fees rules for that financial
                year of the Financial Services Authority (calculated by that Reference
                Bank as being the average of the fee tariffs applicable to that Reference
                Bank for that financial year) and expressed in pounds per £1 million of
                the tariff base of that Reference Bank.

            

       

      	(e)  	
              Each
                Lender must supply to the Facility Agent the information required
                by it to
                make a calculation of the rate for that Lender. In particular, each
                Lender
                must supply the following information on or prior to the date on
                which it
                becomes a Lender:

            

       

      	(i)  	
              the
                jurisdiction of its Facility Office; and

            

       

      	(ii)  	
              any
                other information that the Facility Agent reasonably requires for
                that
                purpose.

               

            

              Each
        Lender must
        promptly notify the Facility Agent of any change to the information supplied
        to
        it under this paragraph.

       

      	(f)  	
              The
                rates of charge of each Reference Bank for the purpose of E above
                are
                determined by the Facility Agent based upon the information supplied
                to it
                under paragraphs (d)
                and (e)
                above.
                Unless a Lender notifies the Facility Agent to the contrary, the
                Facility
                Agent may assume that the Lender's obligations in respect of cash
                ratio
                deposits and special deposits are the same as those of a typical
                bank from
                its jurisdiction of incorporation with a Facility Office in the
                U.K.

            

       

      	(g)  	
              The
                Facility Agent has no liability to any Party if its calculation over
                or
                under compensates any Lender. The Facility Agent is entitled to assume
                that the information provided by any Lender or Reference Bank under
                this
                Schedule is true and correct in all
                respects.

            

       

      	3.  	
              For
                a Lender lending from a Facility Office in a Participating Member
                State

            

       

      	(a)  	
              The
                relevant rate for a Lender lending from a Facility Office in a
                Participating Member State is the percentage rate per annum notified
                by
                that Lender to the Facility Agent. This percentage rate per annum
                must be
                certified by that Lender in its notice to the Facility Agent as its
                reasonable determination of the cost (expressed as a percentage of
                that
                Lender's share in all Loans made from that Facility Office) of complying
                with the minimum reserve requirements of the European Central Bank
                in
                respect of Loans made from that Facility
                Office.

            

       

      	(b)  	
              If
                a Lender fails to specify a rate under paragraph (a)
                above,
                the Facility Agent will assume that the Lender has not incurred any
                such
                cost.

            

       

      	4.  	
              Changes

            

       

      	(a)  	
              The
                Facility Agent may, after consultation with the Company and the Lenders,
                determine and notify all the Parties of any amendment to this Schedule
                which is required to reflect:

            

       

      	(i)  	
              any
                change in law or regulation; or

            

       

      	(ii)  	
              any
                requirement imposed by the Bank of England, the Financial Services
                Authority or the European Central Bank (or, in any case, any successor
                authority).

            

       

      	(b)  	
              If
                the Facility Agent, after consultation with the Company, determines
                that
                the Mandatory Cost for a Lender lending from a Facility Office in
                the U.K.
                can be calculated by reference to a screen, the Facility Agent may
                notify
                all the Parties of any amendment to this Agreement which is required
                to
                reflect this.

            

       

       

        
          

        

      

      SCHEDULE
        5 

       

      FORMS
        OF TRANSFER CERTIFICATE

       

      PART
        1 

       

      FORM
        FOR TRANSFERS BY ASSIGNMENT

      

       

        To:CITIBANK
        INTERNATIONAL PLC as Facility Agent

       

      	
            	
              From:[THE
                EXISTING LENDER] (the Existing
                Lender)
                and [THE NEW LENDER] (the New
                Lender)

            

       

        Date:[            ]

       

        

        BAUSCH
        & LOMB B.V. - US$375,000,000 Credit Agreement

      dated
        29 November, 2005 (the
        Agreement)

       

        We
        refer
        to the Agreement. This is a Transfer Certificate. 

       

      	1.  	
              In
                accordance with the terms of the
                Agreement:

            

       

      	(a)  	
              the
                Existing Lender assigns absolutely to the New Lender all the rights
                of the
                Existing Lender under the Agreement specified in the
                Schedule;

            

       

      	(b)  	
              the
                Existing Lender is released from all its obligations under the Agreement
                which correspond to the Existing Lender's rights specified in the
                Schedule; and

            

       

      	(c)  	
              the
                New Lender becomes a Lender under the Agreement and is bound by
                obligations equivalent to those from which the Existing Lender is
                released
                under paragraph (b)
                above.

            

       

      	2.  	
              The
                proposed Transfer Date is
                [        ].

            

       

      	3.  	
              [On
                the Transfer Date, the New Lender represents to the Existing Lender,
                the
                other Finance Parties, Bausch & Lomb Incorporated and Bausch &
                Lomb B.V. that it is [a Professional Market Party under the Dutch
                Exemption Regulation] [exempted from the requirement to be a Professional
                Market Party because it forms part of a closed circle (besloten
                kring)
                with Bausch & Lomb B.V.].]

            

       

      	4.  	
              The
                administrative details of the New Lender for the purposes of the
                Agreement
                are set out in the Schedule.

            

       

      	5.  	
              [The
                New Lender is a Qualifying Lender.]1

            

       

      	6.  	
              This
                Transfer Certificate is governed by English law.

               

              1    Include
                if applicable.

            

       

       

        
          

        

      

        THE
        SCHEDULE

        Rights
        and obligations to be transferred by assignment

      [insert
        relevant details, including applicable Commitment (or part)]

       

        Administrative
        details of the New Lender

      [insert
        details of Facility Office, address for notices and payment details
        etc.]

       

       

        [EXISTING
        LENDER]                     
[NEW
        LENDER]

       

        By:                                By:

       

        The
        Transfer Date is confirmed by the Facility Agent as
        [            ].

       

        CITIBANK
        INTERNATIONAL PLC

      as
        Facility Agent, for and on behalf

      of
        each
        of the parties to the 

      Agreement
        (other than the Existing Lender and 

      the
        New
        Lender)

       

        By:

       

        

       

      	 	
              Note:
                It
                is the responsibility of each individual New Lender to ascertain
                whether
                any other document or formality is required to perfect the transfer
                contemplated by this Transfer
                Certificate.

            

       

        

       

        
          

        

      

      PART
        2

       

      FORM
        FOR TRANSFERS BY NOVATION

       

        To:CITIBANK
        INTERNATIONAL PLC
        as
        Facility Agent

       

      	 	
              From:[THE
                EXISTING LENDER] (the Existing Lender) and [THE NEW LENDER] (the
                New
                Lender)

            

       

        Date:[                         ]

       

        

       

        BAUSCH
        & LOMB B.V.
        - US$375,000,000
        Credit Agreement

      dated
        29
        November, 2005 (the
        Agreement)

       

        We
        refer
        to the Agreement. This is a Transfer Certificate.

       

      	1.  	
              The
                Existing Lender transfers by novation to the New Lender the Existing
                Lender's rights and obligations referred to in the Schedule below
                in
                accordance with the terms of the
                Agreement.

            

       

      	2.  	
              The
                proposed Transfer Date is
                [     ].

            

       

      	3.  	
              [On
                the Transfer Date, the New Lender represents to the Existing Lender,
                the
                other Finance Parties, Bausch & Lomb Incorporated and Bausch &
                Lomb B.V. that it is [a Professional Market Party under the Dutch
                Exemption Regulation] [exempted from the requirement to be a Professional
                Market Party because it forms part of a closed circle (besloten
                kring)
                with Bausch & Lomb B.V.].] 

            

       

      	4.  	
              The
                administrative details of the New Lender for the purposes of the
                Agreement
                are set out in the Schedule.

            

       

      	5.  	
              [The
                New Lender is a Qualifying Lender.]2

            

       

      	6.  	
              The
                New Lender expressly acknowledges the limitations on the Existing
                Lender's
                obligations in respect of this Transfer Certificate contained in
                the
                Agreement.

            

       

      	7.  	
              This
                Transfer Certificate may be executed in any number of counterparts
                and
                this has the same effect as if the signatures on the counterpart
                were on a
                single copy of the Transfer Certificate.

            

       

      	8.  	
              This
                Transfer Certificate is governed by English law.

               

              2    Include
                if applicable.

               

            

       

        
          

        

      

        THE
        SCHEDULE

       

        Rights
        and obligations to be transferred by novation

      [insert
        relevant details, including applicable Commitment (or part)]

       

        Administrative
        details of the New Lender

      [insert
        details of Facility Office, address for notices and payment details
        etc.]

       

        

       

        [EXISTING
        LENDER]                     
[NEW
        LENDER]

       

        By:                                By:

       

        The
        Transfer Date is confirmed by the Facility Agent as
        [                  ].

       

        CITIBANK
        INTERNATIONAL PLC

       

        By:

       

        

       

      	 	
              Note:It
                is the responsibility of each individual New Lender to ascertain
                whether
                any other document or formality is required to perfect the transfer
                contemplated by this Transfer
                Certificate.

            

       

       

        
          

        

      

      SCHEDULE
        6  

       

      MATERIAL
        SUBSIDIARIES

       

        Material
        Subsidiaries of Bausch & Lomb Incorporated

      stated
        in US$000s as of 25 December, 2004

       

      

         

          

        
          	
                   

                    Material
                    Subsidiary

                	
                   

                    Consolidated
                    Subsidiary assets (excluding inter-company
                    assets)

                	
                   

                    Per
                    cent. of total Consolidated assets

                	
                   

                    Net
                    Subsidiary sales (excluding inter-company sales)

                	
                   

                    Per
                    cent. of total Consolidated sales

                
	
                   

                    BLJ
                    Company Ltd

                	
                   

                    US$141,761

                	
                   

                    4.7%

                	
                   

                    US$226,554

                	
                   

                    10.1%

                
	
                   

                    B&L
                    France

                	
                   

                    US$378,993

                	
                   

                    12.5%

                	
                   

                    US$182,242

                	
                   

                    8.2%

                
	
                   

                    Dr.
                    Mann

                	
                   

                    US$164,538

                	
                   

                    5.4%

                	
                   

                    US$113,518

                	
                   

                    5.1%

                
	
                   

                    B&L
                    UK

                	
                   

                    US$81,912

                	
                   

                    2.7%

                	
                   

                    US$121,853

                	
                   

                    5.5%

                
	
                   

                    Bausch
                    & Lomb B.V.

                	
                   

                    US$183,232

                	
                   

                    6.1%

                	
                   

                    US$99,581

                	
                   

                    4.5%

                
	
                   

                    Bausch
                    & Lomb Ireland

                	
                   

                    US$230,450

                	
                   

                    7.6%

                	
                   

                    US$0

                	
                   

                    0%

                

        

      

        

       

       

        
          

        

      

      SCHEDULE
        7 

       

      FORM
        OF STANDING PAYMENT INSTRUCTIONS

       

        Bank
        Name:  []

       

        A/C
        Name:    [  
        ]

       

        A/C
        No:     
[  
]

       

        
          

        

      

      SIGNATORIES

       

       

        Company

       

        BAUSCH
        & LOMB B.V.

       

        By: 
        /s/
        Efrain Rivera

        EFRAIN
        RIVERA

       

        

        Guarantor

       

        BAUSCH
        & LOMB INCORPORATED

       

        By: 
        /s/
        Stephen C. McCluski

        STEPHEN
        C. MCCLUSKI

       

       

        Mandated
        Lead Arrangers

       

        CITIGROUP
        GLOBAL MARKETS LIMITED

       

        By: 
        /s/
        Paul Gibbs

        PAUL
        GIBBS

       

        

        J.
        P. MORGAN PLC

       

        By: 
        /s/
        Neville G. Crow

        NEVILLE
        G. CROW

       

        

        KEYBANC
        CAPITAL MARKETS

       

        By: 
        /s/
        Laurie Muller-Girard

        LAURIE
        MULLER-GIRARD

       

        

        Original
        Lenders

       

        BANK
        OF TOKYO-MITSUBISHI TRUST COMPANY

       

        By: 
        /s/
        Harumi Kambara

        HARUMI
        KAMBARA

       

        

        BARCLAYS
        BANK PLC

       

        By: 
        /s/
        Nicholas A. Bell

        NICHOLAS
        A. BELL

       

       

      CITIBANK
        INTERNATIONAL PLC

       

        By: 
        /s/
        Paul Gibbs

        PAUL
        GIBBS

       

       

      JPMORGAN
        CHASE BANK, N.A.

       

      By: 
/s/
        Alastair A. Stevenson

      ALASTAIR
        A. STEVENSON

       

      

      KEYBANK
        NATIONAL ASSOCIATION

       

      By: 
/s/
        Marianne Meil

      MARIANNE
        MEIL

       

       

      MIZUHO
        CORPORATE BANK, LTD.

       

      By: 
/s/
        Raymond Ventura

      RAYMOND
        VENTURA

       

       

      SOCIÉTÉ
        GÉNÉRALE

       

      By: 
/s/
        Mary Brickley

      MARY
        BRICKLEY

       

       

      THE
        NORTHERN TRUST COMPANY

       

      By: 
/s/
        Ashish S. Bhagwat

      ASHISH
        S.
        BHAGWAT

       

       

      USBANK

       

      By: 
/s/
        Michael P. Dickman

      MICHAEL
        P. DICKMAN

       

       

       

        Facility
        Agent

       

        CITIBANK
        INTERNATIONAL PLC

       

        By: 
        /s/
        Paul Gibbs

        PAUL
        GIBBSExhibit (10)-z

    
      
        

      

      Exhibit
        (10)-z

      

      EXECUTION
        COPY

       

      LETTER
        WAIVER

      

       

      Dated
        as
        of November 23, 2005

      

      To
        the
        banks, financial institutions

      and
        other
        institutional lenders

      (collectively,
        the "Lenders")

      parties
        to the Credit Agreement

      referred
        to below and to Citibank, N.A.,

      as
        agent
        (the "Agent")
        for
        the Lenders

       

      Ladies
        and Gentlemen:

       

      We
        refer
        to the Five Year Credit Agreement dated as of July 26, 2005 (the "Credit
        Agreement")
        among
        the undersigned and you. Capitalized terms not otherwise defined in this
        Letter
        Waiver have the same meanings as specified in the Credit Agreement.

       

      Reference
        is made to the Borrower's (1) press releases, dated October 26, 2005 and
        November 3, 2005, and (2) filings with the U.S. Securities and Exchange
        Commission on Form 8-K, dated October 27, 2005, and on Form 12(b)-25, dated
        November 3, 2005, related to its subsidiary, BL Industria Otica, Ltda
        ("BLIO")
        and
        the Borrower's related investigation (collectively the "BLIO
        Announcements").
        The
        events include, without limitation, allegations of improper management, improper
        accounting and unpaid taxes of BLIO, which may result in the need for the
        Borrower to
        delay
        delivery of its financial statements to you under the Credit Agreement, delay
        certain of its filings with the Securities and Exchange Commission and
to
        restate its financial statements for prior periods, and that such a restatement,
        if necessary, would also require that out-of-period entries made in prior
        periods, unrelated to the BLIO events, be reclassified to the appropriate
        prior
        period. The Borrower has requested, and the Required Lenders have agreed,
        to
        waive the impact of the matters described in the BLIO Announcements,
        including, without limitation, the impact of the events described in the
        foregoing sentence, to the extent that any restatements of the Borrower's
        financial statements for prior financial periods do not result in reductions
        in
        profits after tax of the Borrower of more than $50,000,000 in aggregate
and,
        with respect to the delay in delivery of the financial statements required
        to be
        delivered under the Credit Agreement, the extent that such delay does not
        extend
        beyond March 1, 2006 (the
        "Waived
        BLIO Matters").
        

       

      We
        hereby
        request that you evidence your agreement to waive, solely for the period
        commencing on the date first above written through Waiver Termination Date
        (as
        defined below), solely with respect to Waived BLIO Matters, any breach of
        the
        Credit Agreement (including, without limitation, any misrepresentation, any
        breach of covenant and any Event of Default) by execution of this Letter
        Waiver.

       

      On
        the
        Waiver Termination Date, without any further action by the Agent and the
        Lenders, all of the terms and provisions set forth in the Credit Agreement
        with
        respect to Defaults thereunder that are waived hereunder and not cured prior
        to
        the Waiver Termination Date shall have the same force and effect as if this
        Letter Waiver had not been entered into by the parties hereto, and the Agent
        and
        the Lenders shall have all of the rights and remedies afforded to them under
        the
        Credit Agreement with respect to any such Defaults as though no waiver had
        been
        granted by them hereunder. The "Waiver
        Termination Date"
        is the
        date, if any, that holders of any Debt outstanding in a principal or notional
        amount of at least $50,000,000 shall accelerate or give notice of acceleration
        of such Debt.

       

      This
        Letter Waiver shall become effective as of the date first above written when,
        and only when, the Agent shall have received counterparts of this Letter
        Waiver
        executed by us and the Required Lenders or, as to any of the Lenders, advice
        satisfactory to the Agent that such Lender has executed this Letter Waiver.
        The
        effectiveness of this Letter Waiver is conditioned upon the accuracy of the
        factual matters described herein in all material respects. This Letter Waiver
        is
        subject to the provisions of Section 8.01 of the Credit
        Agreement.

       

      The
        Credit Agreement and the Notes, except to the extent of the waiver specifically
        provided above, are and shall continue to be in full force and effect and
        are
        hereby in all respects ratified and confirmed. The execution, delivery and
        effectiveness of this Letter Waiver shall not, except as expressly provided
        herein, operate as a waiver of any right, power or remedy of any Lender or
        the
        Agent under the Credit Agreement, nor constitute a waiver of any provision
        of
        the Credit Agreement.

       

      If
        you
        agree to the terms and provisions of this Letter Waiver, please evidence
        such
        agreement by executing and returning at least two counterparts of this Letter
        Waiver to Susan Hobart, Shearman & Sterling LLP, 599 Lexington Avenue, New
        York, New York 10022.

       

      With
        respect to the Waived BLIO matters, nothing in this Letter Waiver shall
        constitute an admission (1) of liability with respect to the Waived BLIO
        matters, (2) that a breach of any representation, warranty, covenant or other
        provisions of the Credit Agreement has occurred or (3) that an Event of Default
        has occurred under the Credit Agreement.

       

      This
        Letter Waiver may be executed in any number of counterparts and by different
        parties hereto in separate counterparts, each of which when so executed shall
        be
        deemed to be an original and all of which taken together shall constitute
        one
        and the same agreement. Delivery of an executed counterpart of a signature
        page
        to this Letter Waiver by telecopier shall be effective as delivery of a manually
        executed counterpart of this Letter Waiver.

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      This
        Letter Waiver shall be governed by, and construed in accordance with, the
        laws
        of the State of New York.

       

      Very
        truly yours,

       

      BAUSCH
        & LOMB INCORPORATED

       

      By
        /s/
        Efrain Rivera

      Title:
        Vice President & Treasurer

       

      Agreed
        as
        of the date first above written:

       

      CITIBANK,
        NA.,

      as
        Agent
        and as Lender

       

      By
        /s/
        Robert A. Kane 

      Title:
        Managing Director

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      

      KEYBANK
        NATIONAL ASSOCIATION

      

      By
        /s/
        Marianne T. Meil

      Title:
        Vice President

      

      BARCLAYS
        BANK PLC

      

      By____________________________

      Title:
        

      

      THE
        BANK
        OF TOKYO-MITSUBISHI TRUST 

      COMPANY

      

      By
        /s/
        Harumi Kambara

      Title:
        Assistant Vice President

      

      JPMORGAN
        CHASE BANK, N.A.

      

      By
        /s/
        Bruce Yoder

      Title:
        Vice President

      

      MIZUHO
        CORPORATE BANK, LTD.

      

      By
        /s/
        Raymond Ventura

      Title:
        General Manager

      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      U.S.
        BANK
        NATIONAL ASSOCIATION

      

      By
        /s/
        David Dannemiller

      Title:
        Vice President

      

      ALLIED
        IRISH BANKS, P.L.C.

      

      By
        /s/
        Germaine Reusch     /s/
        Anthony O’Reilly

      Title:
        Director         Title:
        Senior Vice
        President

      

      HSBC
        BANK
        USA, NATIONAL ASSOCIATION

      

      By
        /s/
        John Carroll

      Title:
        Vice President

      

      THE
        NORTHERN TRUST COMPANY

      

      By
        /s/
        Ashish S. Bhagwat

      Title:
        Vice President

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