Document:

Exhibit 4.1

 

TRANSMERIDIAN
EXPLORATION INCORPORATED

 

AMENDED AND
RESTATED 2003 STOCK COMPENSATION PLAN

 

This
Amended and Restated 2003 Stock Compensation Plan amends the 2003 Stock
Compensation Plan of Transmeridian Exploration Incorporated to increase
the number of shares authorized for issuance under such Plan from 2,500,000
shares to 5,000,000 shares, and otherwise restates the remaining provisions of
such Plan, without further amendment, in its entirety.

 

SECTION 1. PURPOSE.

 

The purpose of this 2003 Stock
Compensation Plan (the “Plan”) of Transmeridian Exploration Incorporated
(together with any subsidiaries, affiliates or successor thereto, the “Company”)
is (a) to promote the identity of interests between shareholders,
employees, and directors of the Company by encouraging and creating significant
ownership of Common Stock of the Company by such officers, employees, and
directors of the Company and its subsidiaries; (b) to enable the Company
to attract and retain qualified officers, employees and directors who
contribute to the Company’s success by their ability, ingenuity and industry; (c) to
provide meaningful motivation and incentive for officers, employees, and
directors who are responsible for the success of the Company and who are in a
position to make significant contributions toward its objectives; and (d) to
provide a means to compensate officers, employees and directors of the Company
as well as to compensate consultants, advisors, and other third parties who
provide valuable services for the Company. Certain capitalized terms used in
this Agreement are defined either in the body of the Agreement or in Section 12,
“Definitions”.

 

Pursuant to the terms and
conditions of this Plan, the Company is authorized to issue shares of common
stock of the Company, $.0006 par value, under the Plan, including the issuance
of the following types of Awards:

 

• 
Restricted Stock
Awards

 

• 
Payments of Bonus
Awards in Shares

 

• 
Payment for
Services to Consultants in Shares

 

• 
Employer
Contributions to 401-K Plan

 

•  Stock Appreciation Rights

 

• 
Warrants to
purchase Shares

 

SECTION 2. SHARES
SUBJECT TO THE PLAN.

 

Subject to adjustment as
provided in Section 9, the total number of Shares reserved and available
for Awards under the Plan during the term hereof shall be
5,000,000 million shares. For purposes of this Section 2, the number
of and time at which Shares shall be deemed to be subject to Awards and
therefore counted against the number of Shares reserved and available under the
Plan shall be the earliest date at which the Committee can reasonably estimate
the number of Shares to be distributed in settlement of an Award or with
respect to which payments will be made; provided, however, that, subject to the
requirements of Rule 16b-3, the Committee may adopt procedures for
the counting of Shares relating to any Award for which the number of Shares to
be distributed or with respect to which payment will be made cannot be fixed at
the date of grant to ensure appropriate counting, avoid double counting (in the
case of tandem or substitute awards), and provide for adjustments in any case
in which the number of Shares actually distributed or with respect to which
payments are actually made differs from the number of Shares previously counted
in connection with such Award.

 

If any Shares to which an
Award relates are forfeited or the Award is settled or terminates without a
distribution of Shares (whether or not cash, other Awards, or other property is
distributed with respect to such 

 

 

Award), any Shares counted against the number of Shares reserved and
available under the Plan with respect to such Award shall, to the extent of any
such forfeiture, settlement or termination, again be available for Awards under
the Plan; provided, however, that such Shares shall be available for issuance
only to the extent that the related award would be exempt under Rule 16b-3.

 

SECTION 3. ELIGIBILITY.

 

Awards may be granted only
to individuals who are officers, employees (including employees who are also
directors), directors and Consultants of the Company or a Subsidiary; provided,
however, that no Award shall be granted to any member of the Committee.

 

SECTION 4. SPECIFIC
TERMS OF AWARDS.

 

4.01.    General.    Awards
may be granted on the terms and conditions set forth in this Section 4. In
addition, the Committee may impose on any Award or the exercise thereof, at the
date of grant or thereafter (subject to Section 10.02), such additional
terms and conditions, not inconsistent with the provisions of the Plan, as the
Committee shall determine, including without limitation the acceleration of
vesting of any Awards or alteration of terms requiring forfeiture of Awards in
the event of termination of employment by the Participant.

 

4.02.    Restricted Stock.    The
Committee is authorized to grant Restricted Stock to Participants on the
following terms and conditions:

 

(i)    Issuance and Restrictions. Restricted Stock
shall be subject to such restrictions on transferability and other restrictions
as the Committee may impose. The Committee shall have the authority to set the
period of time during which the restrictions shall apply and the vesting
provisions relating to such Restricted Stock. Such Restricted Stock shall vest
either: (x) if the Committee so determines, in full with respect to all
Shares underlying such Award of Restricted Stock at the expiration of the
restriction period; or (y) if the Committee so determines, proportionally
in installments of the Shares underlying such Award of Restricted Stock over
the restriction period, except that such restrictions may lapse earlier in the
event of death, disability, termination of employment, or retirement of an
awardee, on such terms as the Committee shall determine, or in accordance with Section 8
hereof. The Committee shall have the authority to accelerate the vesting of an
Award of Restricted Stock. The Committee shall have the authority to award
Restricted Stock without cash consideration or, if it so determines, for an
exercise price.

 

(ii)   Termination. The Committee shall have the authority
to determine the events giving rise to the termination of such Restricted Stock
and the terms and provisions relating to such Restricted Stock in the event of
the termination of any employee’s, officer’s, director’s, or Consultant’s
relationship with the Company. The Committee may provide, by rule or
regulation or in any Award Agreement, or may determine in any individual case
after the award has been made, that restrictions or forfeiture conditions
relating to Restricted Stock will be waived in whole or in part in the event of
terminations resulting from specified causes.

 

(iii)  Certificates of Shares. Restricted Stock granted under
the Plan may be evidenced in such manner as the Committee shall determine. The
Company, or if the Committee so designates, an escrow agent acting on behalf of
the Company, shall retain physical possession of the certificates until such
time as the shares are no longer restricted, and the Participant shall deliver
a stock power to the Company or such agent, endorsed in blank, relating to the
Restricted Stock.

 

(iv)  Restrictions on Transfer. Except as may be otherwise
expressly permitted by the Award Agreement, no right or interest of any
Participant in the Restricted Stock prior to vesting of such Restricted Stock
will be assignable or transferable, or subjected to any lien, either
voluntarily or involuntarily, directly or indirectly, by operation of law or
otherwise.

 

 

(v)   Ownership. During the restriction period relating
to the Restricted Stock, the Participant shall possess all incidents of
ownership of such shares, including the right to vote and to receive dividends,
subject to the restrictions set forth in this Plan, the Award Agreement, or as
otherwise determined by the Committee.

 

(vi)  Dividends and Distributions.    Unless
otherwise set forth in the Award Agreement, the Committee shall determine at
the time of the declaration of any dividends or distributions with respect to
shares of Common Stock subject to the unvested portion of an Award whether such
dividends or distributions will be subject to the same restrictions (including
risk of forfeiture) as the shares to which such dividends or distributions
relate. The Committee shall also determine whether the Company will withhold
any such dividends or distributions pending vesting of the shares to which it
relates and, in such event, the Committee will determine whether any interest
will be paid on such dividends or distributions.

 

4.03.    Bonus Awards.    The
Committee is authorized to grant Bonus Awards to Participants on the following
terms and conditions:

 

(i)    Awards and Conditions. A Bonus Award shall
confer upon the Participant rights, valued as determined by the Committee, and
payable to, or exercisable by, the Participant to whom the Bonus Award is granted,
in whole or in part, as determined by the Committee, conditioned upon, or in
recognition of, the achievement of any performance criteria determined by the
Committee.

 

(ii)   Performance Period. The period of time with
respect to which it is to be determined whether the performance criteria
applicable to a Bonus Award have been achieved shall be such period of time as
shall be determined by the Committee. A Bonus Award may be granted for past
performance by a Participant and may include discretionary criteria for such
performance as determined by the Committee. The vesting requirements, if any,
attributable to Bonus Awards shall be determined by the Committee.

 

(iii)  Other Terms. A Bonus Award shall be denominated in
Shares and may be payable in cash, Shares, other Awards, or other property, and
have such other terms as shall be determined by the Committee.

 

4.04    Payment for Services by
Consultants.    The Committee is authorized to
issue Shares of the Company as direct payment for services by Consultants. The
Committee shall establish the number of Shares to be issued to such Consultant
as equivalent value for the services rendered by such Consultants, and the
Committee shall otherwise make all determinations regarding the payment for
such services in the form of Shares.

 

4.05.    Employer Contributions to 401-K
Plan.    The Committee is authorized to issue
Shares under the Plan as employer contributions to any 401-K Plan
established by the Company. The Committee shall approve the terms of any such 401-K
Plan(s), including the employee contributions eligible for employer matching
contributions and the provisions of such matching contributions, including
vesting periods and terms of forfeiture.

 

4.06.    Stock Appreciation Rights.    The
Committee is authorized to grant Stock Appreciation Rights to Participants on
the following terms and conditions:

 

(i)    Right to Payment. A
Stock Appreciation Right shall confer on the Participant to whom it is granted
a right to receive, upon exercise thereof, the excess of (A) the Fair
Market Value of one Share on the date of exercise (or, if the Committee shall
so determine in the case of any such right, the Fair Market Value of one Share
at any time during a specified period before or after the date of exercise or
the Change of Control Price as defined in Section 8.03) over (B) the
base price of the Stock Appreciation Right as determined by the Committee as of
the date of grant of the Stock Appreciation Right, which shall be not less than
the Fair Market Value of one Share on the date of grant. On and  after the date of grant of a Stock
Appreciation Right hereunder, the Committee shall not have the authority to
reduce the base price of such Stock Appreciation Right, except as provided in Section 9
hereof.

 

 

(ii)   Other Terms. The Committee shall determine the
time or times at which a Stock Appreciation Right may be exercised in whole or
in part, the method of exercise, method of settlement, form of consideration
payable in settlement, method by which Shares will be delivered or deemed to be
delivered to Participants, and any other terms and conditions of any Stock
Appreciation Right.

 

4.07.    Warrants.    The
Committee is authorized to grant Warrants to purchase Shares of the Company.
The Committee shall establish the number of Shares to be exercised pursuant to
such Warrants, the terms and conditions applicable to the Warrants (including,
without limitation, the exercise price, which does not need to equal or exceed
the Fair Market Value of the Shares at the date of the grant of the Warrant,
and the period during which the Warrant is exercisable), and the criteria for
issuing such Warrants. The Committee shall make all determinations regarding
such Warrants and the rights thereto.

 

SECTION 5. ADMINISTRATION.

 

5.01.    Authority of the
Committee.    The Plan shall be administered by the
Committee. The Committee shall have full and final authority to take the
following actions, in each case subject to and consistent with the provisions
of the Plan:

 

(i)    to select and
designate Participants;

 

(ii)   to designate
Subsidiaries;

 

(iii)  to determine the type or
types of Awards to be granted to each Participant;

 

(iv)  to determine the number of Awards to be granted, the
number of Shares to which an Award will relate, the terms and conditions of any
Award granted under the Plan (including, but not limited to, any exercise
price, grant price, or purchase price, any restriction or condition, any schedule for
lapse of restrictions or conditions relating to transferability or forfeiture,
exercisability, or settlement of an Award, and waivers or accelerations
thereof, and waiver of performance conditions relating to an Award, based in
each case on such considerations as the Committee shall determine), and all
other matters to be determined in connection with an Award;

 

(v)   to determine whether, to what extent, and under
what circumstances an Award may be settled, or the exercise price of an Award
may be paid, in cash, Shares, other Awards, or other property, or an Award may
be cancelled, forfeited, or surrendered;

 

(vi)  to determine whether, to what
extent, and under what circumstances cash, Shares, other Awards, or other
property payable with respect to an Award will be deferred either
automatically, at the election of the Committee, or pursuant to an agreement
between the Company and the Participant;

 

(vii) to prescribe the form of each Award
Agreement, which need not be identical for each Participant;

 

(viii)   to adopt, amend,
suspend, waive, and rescind such rules and regulations and appoint such
agents as the Committee may deem necessary or advisable to administer the Plan;

 

(ix)  to correct any defect or supply any omission or
reconcile any inconsistency in the Plan and to construe and interpret the Plan
and any Award, rules and regulations, Award Agreement, or other instrument
hereunder;

 

(x)   to interpret and
administer the Plan and any instrument or agreement relating to, or Award
under, the Plan; and

 

 

(xi)  to make all other decisions
and determinations as may be required under the terms of the Plan or as the
Committee may deem necessary or advisable for the administration of the Plan.

 

5.02.    Manner of Exercise
of Committee Authority.    Unless authority is specifically
reserved to the Board under the terms of the Plan, or applicable law, the
Committee shall have sole discretion in exercising such authority under the
Plan. Any action of the Committee with respect to the Plan shall be final,
conclusive, and binding on all persons, including the Company, Subsidiaries,
Participants, any person claiming any rights under the Plan from or through any
Participant, and shareholders. The express grant of any specific power to the
Committee, and the taking of any action by the Committee, shall not be
construed as limiting any power or authority of the Committee. The Committee
may delegate to officers or managers of the Company or any Subsidiary the
authority, subject to such terms as the Committee shall determine, to perform administrative functions under the Plan.

 

5.03. Limitation of
Liability. Each member of the Committee shall be entitled to, in good faith,
rely or act upon any report or other information furnished to him by any
officer or other employee of the Company or any Subsidiary, the Company’s
independent certified public accountants, or any executive compensation
consultant or other professional retained by the Company to assist in the
administration of the Plan. No member of the Committee, nor any officer or
employee of the Company acting on behalf of the Committee, shall be personally
liable for any action, determination, or interpretation taken or made in good
faith with respect to the Plan, and all members of the Committee and any
officer or employee of the Company acting on their behalf, shall, to the extent
permitted by law, be fully indemnified and protected by the Company with
respect to any such action, determination, or interpretation.

 

SECTION 6. CERTAIN
PROVISIONS APPLICABLE TO AWARDS.

 

6.01.    Stand-Alone,
Additional, Tandem, and Substitute Awards.    Awards
granted under the Plan may, in the discretion of the Committee, be granted
either alone or in addition to or in tandem with any other Award granted under
the Plan or any award granted under any other plan of the Company, any
Subsidiary, or any business entity to be acquired by the Company or a
Subsidiary, or any other right of a Participant to receive payment from the
Company or any Subsidiary. Awards granted in addition to or in tandem with
other Awards or awards may be granted either as of the same time as or a
different time from the grant of such other Awards or awards.

 

6.02.    Exchange
Provisions.    The Committee may at any time offer to
exchange or buy out any previously granted Award for a payment in cash, Shares,
or other property based on such terms and conditions as the Committee shall
determine and communicate to the Participant at the time that such offer is
made.

 

6.03.    Term of
Awards.    The term of each Award shall be for such period
as may be determined by the Committee; provided, however, that in no event
shall the term of any Stock Appreciation Right granted in tandem therewith
exceed a period of ten years from the date of its grant (or such shorter period
as may be required under Section 422 of the Code).

 

6.04.    Form of
Payment under Awards.    Subject to the terms of the Plan
and any applicable Award Agreement, payments (if any) to be made by the Company
or a subsidiary upon the grant or exercise of an Award may be made in such
forms as the Committee shall determine, including without limitation, cash,
Shares, other Awards, or other property, and may be made in a single payment or
transfer, in installments, or on a deferred basis. Such payments may include,
without limitation, provisions for the payment or crediting of reasonable
interest on installment or deferred payments.

 

6.05.    Loan
Provisions.    With the consent of the Committee, and
subject to compliance with applicable laws and regulations, the Company may
make, guarantee, or arrange for, a loan or loans to a Participant with respect
to the exercise of any Option or other payment in connection with any Award,
including the payment by a Participant of any or all federal, state, or local
income or other taxes due in connection with any Award. Subject to such
limitations, the Committee shall have full authority to decide whether to make
a loan or loans hereunder and to determine the amount, terms, and provisions of
any such loan or loans, including the interest rate to be charged in respect of
any such loan or loans, whether the loan or loans are to be with or without
recourse against the borrower, 

 

 

the terms on which the loan is to be repaid and
conditions, if any, under which the loan or loans may be forgiven. Nothing in
this Section shall be construed as implying that the Committee shall or
will offer such loans.

 

SECTION 7. GENERAL
RESTRICTIONS APPLICABLE TO AWARDS.

 

7.01.    Restrictions Under Rule 16b-3.    If and
to the extent the Company is (or becomes) subject to Section 16 under the
Exchange Act, then at such time, the following provisions shall apply:

 

(i)    Six-Month Holding Period. Unless a
Participant could otherwise transfer an equity security, derivative security,
or Shares issued upon exercise of a derivative security granted under the Plan
without incurring liability under Section 16(b) of the Exchange Act, (i) an
equity security issued under the Plan, other than an equity security issued
upon exercise or conversion of a derivative security granted under the Plan,
shall be held for at least six months from the date of acquisition; (ii) with
respect to a derivative security issued under the Plan, at least six months
shall elapse from the date of acquisition of the derivative security to the
date of disposition of the derivative security (other than upon exercise or
conversion) or its underlying equity security; and (iii) any Award in the
nature of a Stock Appreciation Right must be held for six months from the date
of grant to the date of cash settlement.

 

(ii)   Non-transferability. Awards which constitute
derivative securities (including any option, stock appreciation right, or
similar right) shall not be transferable by a Participant except upon such
terms and conditions as the Committee may determine to an Immediate Family
Member of such Participant, or to a trust, partnership or limited liability
company all of whose beneficiaries, partners or members, as the case may be,
are Immediate Family Members, or by will or the laws of descent and
distribution (except pursuant to a beneficiary designation authorized under Section 7.02)
or, if then permitted under Rule 16b-3, pursuant to a qualified
domestic relations order as defined under the Code or Title I of the Employee
Retirement Income Security Act of 1974, as amended, or the rules thereunder,
and, in the case of an Incentive Stock Option as defined in the Code or, if
then required by Rule 16b-3, any other derivative security granted
under the Plan, shall be exercisable during the lifetime of a Participant only
by such Participant or his legal representative.

 

(iii)  Compliance with Rule 16b-3. It is the
intent of the Company that this Plan comply in all
respects with Rule 16b-3 in connection with any Award granted to a
person who is subject to Section 16 of the Exchange Act. Accordingly, if
any provision of this Plan or any Award Agreement does not comply with the
requirements of Rule 16b-3 as then applicable to any such person,
such provision shall be construed or deemed amended to the extent necessary to
conform to such requirements with respect to such person.

 

7.02.    Limits on Transfer
of Awards; Beneficiaries.    Except as provided in Section 7.01(ii),
no right or interest of a Participant in any Award shall be pledged, encumbered
or hypothecated to or in favor of any party (other than the Company or a Subsidiary),
or shall be subject to any lien, obligation, or liability of such Participant
to any party (other than the Company or a Subsidiary). Unless otherwise
determined by the Committee (subject to the requirements of Section 7.01(ii)),
no Award subject to any restriction shall be assignable or transferable by a
Participant otherwise than by will or the laws of descent and distribution
(except to the Company under the terms of the Plan); provided, however, that a
Participant may, in the manner established by the Committee, designate a
beneficiary or beneficiaries to exercise the rights of the Participant, and to
receive any distribution, with respect to any Award, upon the death of the
Participant. A beneficiary, guardian, legal representative, or other person
claiming any rights under the Plan from or through any Participant shall be
subject to all terms and conditions of the Plan and any Award Agreement
applicable to such Participant or other agreement applicable to such, except to
the extent the Plan and such Award Agreement or other agreement otherwise
provide with respect to such persons, and to any additional restrictions deemed
necessary or appropriate by the Committee.

 

7.03.    Registration and
Listing Compliance.    The Company shall not be obligated
to deliver any Award or distribute any Shares with respect to any Award in a
transaction subject to regulatory approval, registration, or any other
applicable requirement of federal or state law, or subject to a listing
requirement under any listing or similar agreement between the Company and any
national securities exchange, until such laws, regulations, and contractual 

 

 

obligations of the Company have been complied with in
full, although the Company shall be obligated to use its best efforts to obtain
any such approval and comply with such requirements as promptly as practicable.

 

7.04.    Share
Certificates.    All certificates for Shares delivered
under the Plan pursuant to any Award or the exercise thereof shall be subject
to such stop-transfer order and other restrictions as the Committee may deem
advisable under applicable federal or state laws, rules and regulations
thereunder, and the rules of any national securities exchange or the OTC
Bulletin Board on which Shares are listed. The Committee may cause a legend or
legends to be placed on any such certificates to make appropriate reference to
such restrictions or any other restrictions that may be applicable to Shares,
including under the terms of the Plan or any Award Agreement. In addition,
during any period in which Awards or Shares are subject to restrictions under
the terms of the Plan or any Award Agreement, or during any period during which
delivery or receipt of an Award or Shares has been deferred by the Committee or
a Participant, the Committee may require the Participant to enter into an
agreement providing that certificates representing Shares issuable or issued
pursuant to an Award shall remain in the physical custody of the Company or
such other person as the Committee may designate.

 

SECTION 8. CHANGE OF
CONTROL PROVISIONS.

 

Notwithstanding any other
provision of the Plan, the following acceleration and valuation provisions
shall apply in the event of a “Change of Control” as defined in this Section 8.

 

8.01.    Acceleration and Cash-Out
Rights.    In the event of a “Change of Control,” as
defined in Section 8.02, automatically in the case of all Participants:

 

(i)    The performance criteria of all Bonus Awards
shall be deemed fully achieved and all such Awards shall be fully earned and
vested, subject only to the restrictions on dispositions of equity securities
set forth in Section 7.01(i) and legal restrictions on the issuance
of Shares set forth in Sections 7.03 and 7.04;

 

(ii)   Any Stock Appreciation Right and other Award in
the nature of a right that may be exercised which was not previously
exercisable and vested shall become fully exercisable and vested, subject only
to the restrictions on disposition of equity securities set forth in Section 7.01(i) and
legal restrictions on the issuance of Shares set forth in Sections 7.03 and
7.04;

 

(iii)  The restrictions, deferral limitations, and forfeiture
conditions applicable to any other Award granted under the Plan shall lapse and
such Awards shall be deemed fully vested, subject only to the restrictions on
dispositions of equity securities set forth in Section 7.01(i) and
legal restrictions on the issuance of Shares set forth in Sections 7.03 and
7.04;

 

(iv)  In the sole discretion of the Committee, all
outstanding Awards may be cancelled and in such event a Participant holding any
such Award shall be paid in cash therefore on the basis of the “Change of
Control Price” (as defined in Section 8.03) as of the date that the Change
of Control occurs, or such other date as the Committee may determine prior to
the Change of Control; provided, however, that this Section 8.01(iv) shall
not apply in the case of any Award if the cancellation of and payment for such
Award would cause the Participant to incur actual short-swing profits liability
under Section 16(b) of the Exchange Act; and

 

(v)   To the extent Section 8.01(iv) of this Section 8
does not apply and at any time after the Change of Control the Shares are no
longer readily tradable on an established exchange or the OTC Bulletin Board, a
Participant shall, as of the date on which the Change of Control occurs, be
entitled to receive, consistent with Rule 16b-3, and the Company
shall use its best efforts to compel and obligate the surviving or resulting
company in the Change of Control and/or the other party to the agreement or
transaction resulting in the Change of Control to grant to the Participant,
substitute Stock Appreciation Rights and/or Restricted Stock, as the case may
be, in respect of the shares of common stock or other capital stock of such
surviving or resulting company, or such other party involved in the Change of
Control, on such terms and conditions, 

 

 

as
to the number of shares, pricing, vesting, exercisability and otherwise, which
shall substantially preserve the value, rights and benefits of any affected
Stock Appreciation Rights and/or Restricted Stock, as the case may be,
previously granted hereunder.

 

8.02.    Change of
Control.    For purposes of Section 8.01, a “Change of
Control” shall mean a change in ownership or control of the Company affected
through any of the following transactions:

 

(i)    the direct or indirect acquisition by any
person or related group of persons (other than by the Company or a person that
directly or indirectly controls, is controlled by, or is under common control
with, the Company) of beneficial ownership (within the meaning of Rule 13d-3
of the Exchange Act) of securities possessing more than 50% of the total
combined voting power of the Company’s outstanding securities pursuant to a
tender or exchange offer made directly to the Company’s shareholders, or other
transaction, in each case which the Board does not recommend such shareholders
to accept; or

 

(ii)   a change in the composition of the Board over a
period of 24 consecutive months or less such that a majority of the Board
members (rounded up to the next whole number) ceases, by reason of one or more
contested elections for Board membership, to be comprised of individuals who
either (i) have been Board members continuously since the beginning of
such period or (ii) have been elected or nominated for election as Board
members during such period by at least a majority of the Board members
described in clause (i) who were still in office at the time such
election or nomination was approved by the Board; or

 

(iii)  any Corporate Transaction.

 

8.03.    Change of Control
Price.    For purposes of this Section 8, “Change of
Control Price” means the highest price per share paid in any transaction
reported on the securities exchange or trading system on which the Shares are
then primarily listed or traded, or paid or offered in any transaction related
to a Change of Control of the Company at any time during the preceding 60-day
period as determined by the Committee, except that in the case of Stock
Appreciation Rights relating thereto, such price shall be based only on
transactions reported for the date on which the Committee decides to cash out
such Awards.

 

SECTION 9. ADJUSTMENT
PROVISIONS.

 

In the event that the
Committee shall determine that any dividend or other distribution (whether in
the form of cash, Shares, or other property), recapitalization, stock split,
reverse stock split, reorganization, merger, consolidation, spin-off,
combination, repurchase, or share exchange, or other similar corporate
transaction or event, affects the Shares such that an adjustment is determined
by the Committee to be appropriate in order to prevent dilution or enlargement
of the rights of Participants under the Plan, then the Committee shall, in such
manner as it may deem equitable, adjust any or all of (i) the number and
kind of Shares which may thereafter be issued in connection with Awards (ii) the
number and kind of Shares issued or issuable in respect of outstanding Awards,
and (iii) the exercise price, base price, or purchase price relating to
any Award or, if deemed appropriate, make provision for a cash payment with
respect to any outstanding Award. In addition, the Committee is authorized to
make adjustments in the terms and conditions of, and the criteria included in,
Awards in recognition of unusual or nonrecurring events (including, without
limitation, events described in the preceding sentence) affecting the Company
or any Subsidiary or the financial statements of the Company or any Subsidiary,
or in response to changes in applicable laws, regulations, or accounting
principles.

 

SECTION 10. CHANGES
TO THE PLAN AND AWARDS.

 

10.01.    Changes to the
Plan.    The Board may amend, alter, suspend, discontinue
or terminate the Plan without the consent of shareholders or Participants,
except that any such amendment, alteration, suspension, discontinuation, or
termination shall be subject to the approval of the Company’s shareholders
within one year after such Board action if such shareholder approval is
required by any federal or state law or regulation or the rules of any
stock exchange on which the Shares may be listed in order to maintain
compliance therewith, or if the Board in its discretion determines that
obtaining such shareholder approval is for any reason advisable; provided,
however, 

 

 

that, without the consent of an affected
Participant, no amendment, alteration, suspension, discontinuation, or
termination of the Plan after initial shareholder approval of the Plan may
materially impair the rights of such Participant under any Award theretofore
granted to him.

 

10.02.    Changes to
Awards.    The Committee may, unless otherwise expressly
prohibited by the Plan, waive any conditions or rights under, or amend, alter,
suspend, discontinue, or terminate, any Award theretofore granted and any Award
Agreement relating thereto; provided, however, that, without the consent of an
affected Participant, no such amendment, alteration, suspension,
discontinuation, or termination of any Award may materially impair the rights
of such Participant under such Award.

 

SECTION 11. GENERAL
PROVISIONS.

 

11.01.    No Rights to
Awards.    No Participant or employee shall have any claim
to be granted any Award under the Plan, and there is no obligation for
uniformity of treatment of Participants and employees.

 

11.02.    No Shareholder
Rights.    Except to the extent provided in this Plan, an
Award Agreement, or as otherwise designated by the Committee, no Award shall
confer on any Participant any of the rights of a shareholder of the Company
unless and until Shares are duly vested, issued or transferred to the
Participant in accordance with the terms of the Award. However, the Committee
may specifically convey such rights pursuant to an Award.

 

11.03.    Tax Withholding.    To
the extent and in the manner permitted by applicable law, the Company or any
Subsidiary is authorized to withhold from any Award granted (or from any
payment relating to an Award under the Plan), any amounts of withholding and
other taxes due with respect thereto, and to take such other action as the
Committee may deem necessary or advisable to enable the Company and
Participants to satisfy obligations for the payment of withholding taxes and
other tax liabilities relating to any Award. This authority shall include
authority to withhold or receive Shares or other property and to make cash
payments in respect thereof in satisfaction of the Participant’s tax
obligations. The Committee is also authorized to require any Participant
promptly to remit the amount necessary to satisfy any tax obligation to the
Company before taking any action under the Plan, including the issuance of any
Shares, with respect to an Award.

 

11.04.    No Right to
Employment.    Nothing contained in the Plan or any Award
Agreement shall confer, and no grant of an Award shall be construed as
conferring, upon any Participant any right to continue in the employment of the
Company or any Subsidiary or to interfere in any way with the right of the
Company or any Subsidiary to terminate such employment at any time or increase
or decrease such employee’s compensation from the rate in existence at the time
of granting of an Award.

 

11.05.    Unfunded Status of
Awards.    With respect to any payments not yet made to a
Participant pursuant to an Award the Plan constitutes a mere promise to make
the benefit payments provided for herein, and nothing contained in the Plan or
any Award shall give any such Participant any rights that are greater than
those of a general creditor of the Company; provided, however, that the
Committee may authorize the creation of trusts or make other arrangements to
meet the Company’s obligations under the Plan to deliver cash, Shares, other
Awards, or other property pursuant to any award, which trusts or other arrangements
shall be consistent with the unfunded status of the Plan.

 

11.06.    Other Compensatory
Arrangements.    The Company or any Subsidiary shall be
permitted to adopt other or additional compensation arrangements (which may
include arrangements which relate to Awards), and such arrangements may be
either generally applicable or applicable only in specific cases.

 

11.07.    Fractional
Shares.    No fractional Shares shall be issued or
delivered pursuant to the Plan or any Award. The Committee shall determined
whether cash, other Awards, or other property shall be issued or paid in lieu
of fractional Shares or whether such fractional Shares or any rights thereto
shall be forfeited or otherwise eliminated.

 

 

11.08.    Governing
Law.    The validity, construction, and effect of the Plan,
any rules and regulations relating to the Plan, and any Award Agreement
shall be determined in accordance with the laws of the State of Texas, without
giving effect to principles of conflicts of laws, and applicable federal law.

 

SECTION 12. DEFINITIONS.

 

In addition to the terms
defined elsewhere in the Plan, the following shall be defined terms under the
Plan:

 

12.01.   “Award”
means any Restricted Stock Award, Bonus Award, payment for services of a
Consultant, Stock Appreciation Right, warrant to purchase Shares, or any other
right or interest relating to Shares or cash, granted to a Participant under
the Plan.

 

12.02.   “Award
Agreement” means any written agreement, contract, or other instrument or
document evidencing an Award.

 

12.03.   “Board”
means the Board of Directors of the Company.

 

12.04   “Bonus
Award” means a right, granted to a Participant under Section 4.03, to
receive cash, Shares, other Awards, or other property.

 

12.05   “Corporate
Transaction” means any of the following shareholder-approved transactions to
which the Company is a party

 

(i)    a merger or consolidation in which the
Company is not the surviving entity, except for a transaction the principal
purpose of which is to change the jurisdiction in which the Company is
incorporated;

 

(ii)   the sale, transfer or
other disposition of all or substantially all of the assets of the Company in
complete liquidation or dissolution of the Company; or

 

(iii)  any reverse merger in which the Company is the surviving
entity but in which securities possessing more than 50% of the total combined
voting power of the Company’s outstanding securities are transferred to a
person or persons different from the persons holding those securities
immediately prior to such merger.

 

12.06.   “Code”
means the Internal Revenue Code of 1986, as amended from time to time.
References to any provision of the Code shall be deemed to include successor
provisions thereto and regulations thereunder.

 

12.07.   “Committee”
means the Compensation Committee of the Board, or such other Board committee as
may be designated by the Board to administer the Plan, or any subcommittee of
either; provided, however, that if and when the Company shall be or become
subject to Section 16 of the Exchange Act, then the Committee, and any
subcommittee thereof, shall consist of two or more directors (or such lesser
number as may be permitted by applicable law or rule), each of whom is a “disinterested
person” within the meaning of the applicable provisions of Rule 16b-3
under the Exchange Act.

 

12.08.   “Consultant”
means any person who is engaged by the Company or a Subsidiary to render
consulting, advisory or other services to the Company or a Subsidiary.

 

12.09.   “Disability”
shall mean the inability of a Grantee to perform his or her duties and
responsibilities for a period of 90 consecutive days or an aggregate period of
180 days in any two year period.

 

 

12.10.   “Exchange
Act” means the Securities Exchange Act of 1934, as amended from time to time.
References to any provision of the Exchange Act shall be deemed to include
successor provisions thereto and any rules and regulations thereunder.

 

12.11.   “Fair
Market Value” means, with respect to Shares, Awards, or other property, the
fair market value of such Shares, Awards, or other property determined by such
methods or procedures as shall be established from time to time by the
Committee. Unless otherwise determined by the Committee, the Fair Market Value
of Shares as of any date shall be the closing price of the Shares on the date
of the grant of the Award, as reported by the American Stock Exchange or other
national exchange on which the Shares are listed (or if not so reported, as
otherwise reported by the National Association of Securities Dealers Automated
Quotation System, Small Cap or National Markets, the National Association of
Securities Dealers OTC Bulletin Board or in The Wall Street Journal).

 

12.12.   “Immediate
Family Member” means, with respect to any Participant, any of such Participant’s
spouse, children, parents or siblings.

 

12.13.   “Participant”
shall mean any officer, director, employee, or Consultant of the Company who
has been granted an Award under the Plan.

 

12.14.   “Restricted
Stock” means Shares granted to a Participant under Section 4.02, that are
subject to certain restrictions and to a risk of forfeiture.

 

12.15.   “Rule 16b-3”
means Rule 16b-3, as from time to time amended and applicable to
Participants, promulgated by the Securities and Exchange Commission under Section 16
of the Exchange Act.

 

12.16.   “Shares”
means the Common Stock, $0.0006 par value per share, of the Company and such
other securities of the Company as may be substituted for Shares or such other
securities pursuant to the Plan.

 

12.17.   “Stock
Appreciation Right” means a right, granted to a Participant under Section 4.06,
to be paid an amount measured by the appreciation in the Fair Market Value of
Shares from the date of grant to the date of exercise of the right, with
payment to be made in cash, Shares, other Awards, or other property as
specified in the Award Agreement or determined by the Committee.

 

12.18.   “Subsidiary”
means any company (other than the Company) with respect to which the Company
owns, directly or indirectly, 50% or more of the total combined voting power
for all classes of stock. In addition, any other related entity may be
designated by the Board or the Committee as a Subsidiary, provided the Board or
the Committee determines that the Company has a substantial ownership interest
in such entity.

 

12.19.   “Year”
means a calendar year.Exhibit 10.1

 

 

[Published CUSIP Number:                          ]

 

 

CREDIT AGREEMENT

 

Dated as of July 15, 2005

 

among

 

AMPHENOL CORPORATION,

as a Borrower and a Guarantor

 

and

 

CERTAIN OF ITS SUBSIDIARIES,

as Designated Borrowers,

 

and

 

CERTAIN OF ITS SUBSIDIARIES,

as Guarantors

 

 

BANK OF AMERICA, N.A.,

as Administrative
Agent, Swing Line Lender

and

L/C Issuer,

 

and

 

The Other Lenders Party Hereto

 

 

BANC OF AMERICA SECURITIES LLC
and

WACHOVIA CAPITAL MARKETS, LLC

as

Joint Lead Arrangers and Joint Book Managers

 

and

 

DEUTSCHE BANK SECURITIES INC.

as Joint Book Manager

 

 

 

TABLE OF CONTENTS

 

	
  Section

  	
   

  
	
   

  	
   

  
	
  ARTICLE I DEFINITIONS AND
  ACCOUNTING TERMS

  	
   

  
	
  1.01

  	
  Defined Terms

  	
   

  
	
  1.02

  	
  Other
  Interpretive Provisions

  	
   

  
	
  1.03

  	
  Accounting Terms

  	
   

  
	
  1.04

  	
  Exchange
  Rates; Currency Equivalents

  	
   

  
	
  1.05

  	
  Additional
  Alternative Currencies

  	
   

  
	
  1.06

  	
  Change of Currency

  	
   

  
	
  1.07

  	
  Times of Day

  	
   

  
	
  1.08

  	
  Letter of Credit
  Amounts

  	
   

  
	
   

  	
   

  	
   

  
	
  ARTICLE II THE
  COMMITMENTS AND CREDIT EXTENSIONS

  	
   

  
	
  2.01

  	
  Committed Loans

  	
   

  
	
  2.02

  	
  Borrowings,
  Conversions and Continuations of Committed Loans

  	
   

  
	
  2.03

  	
  Letters of Credit

  	
   

  
	
  2.04

  	
  Swing Line Loans

  	
   

  
	
  2.05

  	
  Prepayments

  	
   

  
	
  2.06

  	
  Termination
  or Reduction of Commitments

  	
   

  
	
  2.07

  	
  Repayment of Loans

  	
   

  
	
  2.08

  	
  Interest

  	
   

  
	
  2.09

  	
  Fees

  	
   

  
	
  2.10

  	
  Computation
  of Interest and Fees

  	
   

  
	
  2.11

  	
  Evidence of Debt

  	
   

  
	
  2.12

  	
  Payments
  Generally; Administrative Agent’s Clawback

  	
   

  
	
  2.13

  	
  Sharing
  of Payments by Lenders

  	
   

  
	
  2.14

  	
  Designated
  Borrowers

  	
   

  
	
   

  	
   

  	
   

  
	
  ARTICLE III
  TAXES, YIELD PROTECTION AND ILLEGALITY

  	
   

  
	
  3.01

  	
  Taxes

  	
   

  
	
  3.02

  	
  Illegality

  	
   

  
	
  3.03

  	
  Inability to Determine Rates

  	
   

  
	
  3.04

  	
  Increased Costs

  	
   

  
	
  3.05

  	
  Compensation for Losses

  	
   

  
	
  3.06

  	
  Mitigation Obligations; Replacement of
  Lenders

  	
   

  
	
  3.07

  	
  Survival

  	
   

  
	
   

  	
   

  	
   

  
	
  ARTICLE IV GUARANTY

  	
   

  
	
  4.01

  	
  The Guaranty

  	
   

  
	
  4.02

  	
  Obligations Unconditional

  	
   

  
	
  4.03

  	
  Reinstatement

  	
   

  
	
  4.04

  	
  Certain Additional Waivers

  	
   

  
	
  4.05

  	
  Remedies

  	
   

  
	
  4.06

  	
  Rights of Contribution

  	
   

  
	
  4.07

  	
  Guarantee of Payment; Continuing
  Guarantee

  	
   

  
	
   

  	
   

  	
   

  
	
  ARTICLE V
  CONDITIONS PRECEDENT TO CREDIT EXTENSIONS

  	
   

  
	
  5.01

  	
  Conditions of Initial Credit Extension

  	
   

  

 

i

 

	
  5.02

  	
  Conditions to all Credit Extensions

  	
   

  
	
   

  	
   

  	
   

  
	
  ARTICLE VI
  REPRESENTATIONS AND WARRANTIES

  	
   

  
	
  6.01

  	
  Existence, Qualification and Power;
  Compliance with Laws

  	
   

  
	
  6.02

  	
  Authorization;
  No Contravention

  	
   

  
	
  6.03

  	
  Financial
  Statements; No Internal Control Event

  	
   

  
	
  6.04

  	
  No Material
  Adverse Effect

  	
   

  
	
  6.05

  	
  Ownership of
  Property; Liens

  	
   

  
	
  6.06

  	
  Litigation

  	
   

  
	
  6.07

  	
  Taxes

  	
   

  
	
  6.08

  	
  Government
  Regulation

  	
   

  
	
  6.09

  	
  Employee Benefit
  Plans

  	
   

  
	
  6.10

  	
  Environmental
  Protection

  	
   

  
	
  6.11

  	
  Disclosure

  	
   

  
	
  6.12

  	
  Representations
  as to Foreign Obligors

  	
   

  
	
   

  	
   

  	
   

  
	
  ARTICLE VII
  AFFIRMATIVE COVENANTS

  	
   

  
	
  7.01

  	
  Financial
  Statements and Other Reports

  	
   

  
	
  7.02

  	
  Preservation
  of Existence, Etc.

  	
   

  
	
  7.03

  	
  Payment of
  Taxes and Claims; Tax Consolidation

  	
   

  
	
  7.04

  	
  Maintenance
  of Properties; Insurance

  	
   

  
	
  7.05

  	
  Inspection Rights;
  Lender Meeting

  	
   

  
	
  7.06

  	
  Compliance with Laws

  	
   

  
	
  7.07

  	
  Additional
  Subsidiary Guarantors

  	
   

  
	
  7.08

  	
  Transactions
  with Affiliates

  	
   

  
	
  7.09

  	
  Conduct of Business

  	
   

  
	
  7.10

  	
  Fiscal Year

  	
   

  
	
  7.11

  	
  Use of Proceeds

  	
   

  
	
   

  	
   

  	
   

  
	
  ARTICLE VIII
  NEGATIVE COVENANTS

  	
   

  
	
  8.01

  	
  Indebtedness

  	
   

  
	
  8.02

  	
  Liens

  	
   

  
	
  8.03

  	
  Investments;
  Joint Ventures

  	
   

  
	
  8.04

  	
  Restricted Payments

  	
   

  
	
  8.05

  	
  Financial Covenants

  	
   

  
	
  8.06

  	
  Fundamental
  Changes; Asset Sales

  	
   

  
	
  8.07

  	
  Amendment of
  Certain Documents

  	
   

  
	
   

  	
   

  	
   

  
	
  ARTICLE IX
  EVENTS OF DEFAULT AND REMEDIES

  	
   

  
	
  9.01

  	
  Events of Default

  	
   

  
	
  9.02

  	
  Remedies Upon
  Event of Default

  	
   

  
	
  9.03

  	
  Application of Funds

  	
   

  
	
   

  	
   

  	
   

  
	
  ARTICLE X
  ADMINISTRATIVE AGENT

  	
   

  
	
  10.01

  	
  Appointment and
  Authority

  	
   

  
	
  10.02

  	
  Rights as a Lender

  	
   

  
	
  10.03

  	
  Exculpatory
  Provisions

  	
   

  
	
  10.04

  	
  Reliance by
  Administrative Agent

  	
   

  
	
  10.05

  	
  Delegation of Duties

  	
   

  
	
  10.06

  	
  Resignation
  of Administrative Agent

  	
   

  
	
  10.07

  	
  Non-Reliance
  on Administrative Agent and Other Lenders

  	
   

  

 

ii

 

	
  10.08

  	
  No Other Duties, Etc.

  	
   

  
	
  10.09

  	
  Administrative
  Agent May File Proofs of Claim

  	
   

  
	
  10.10

  	
  Guaranty Matters

  	
   

  
	
   

  	
   

  	
   

  
	
  ARTICLE XI
  MISCELLANEOUS

  	
   

  
	
  11.01

  	
  Amendments, Etc.

  	
   

  
	
  11.02

  	
  Notices;
  Effectiveness; Electronic Communication

  	
   

  
	
  11.03

  	
  No Waiver;
  Cumulative Remedies

  	
   

  
	
  11.04

  	
  Expenses;
  Indemnity; Damage Waiver

  	
   

  
	
  11.05

  	
  Payments Set Aside

  	
   

  
	
  11.06

  	
  Successors and
  Assigns

  	
   

  
	
  11.07

  	
  Treatment
  of Certain Information; Confidentiality

  	
   

  
	
  11.08

  	
  Right of Setoff

  	
   

  
	
  11.09

  	
  Interest Rate
  Limitation

  	
   

  
	
  11.10

  	
  Counterparts;
  Integration; Effectiveness

  	
   

  
	
  11.11

  	
  Survival of
  Representations and Warranties

  	
   

  
	
  11.12

  	
  Severability

  	
   

  
	
  11.13

  	
  Replacement of
  Lenders

  	
   

  
	
  11.14

  	
  Governing
  Law; Jurisdiction; Etc.

  	
   

  
	
  11.15

  	
  Waiver of Jury Trial

  	
   

  
	
  11.16

  	
  USA PATRIOT Act
  Notice

  	
   

  
	
  11.17

  	
  Judgment Currency

  	
   

  

 

iii

 

	
  SCHEDULES

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  1.01

  	
  Mandatory Cost Formulae

  	
   

  
	
  2.01

  	
  Commitments and Applicable Percentages

  	
   

  
	
  2.03

  	
  Existing Letters of Credit

  	
   

  
	
  6.01(c)

  	
  Subsidiaries

  	
   

  
	
  6.06

  	
  Litigation

  	
   

  
	
  8.01

  	
  Existing Indebtedness

  	
   

  
	
  8.03

  	
  Existing Investments

  	
   

  
	
  11.02

  	
  Administrative Agent’s Office; Certain Addresses for Notices

  	
   

  
	
  11.06

  	
  Processing and Recordation Fees

  	
   

  
	
   

  	
   

  	
   

  
	
  EXHIBITS

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Form of

  	
   

  
	
   

  	
   

  	
   

  
	
  A

  	
  Committed Loan Notice

  	
   

  
	
  B

  	
  Swing Line Loan Notice

  	
   

  
	
  C

  	
  Revolving Note

  	
   

  
	
  D

  	
  Swing Line Note

  	
   

  
	
  E

  	
  Compliance Certificate

  	
   

  
	
  F

  	
  Assignment and Assumption

  	
   

  
	
  G

  	
  Joinder Agreement

  	
   

  
	
  H

  	
  Designated Borrower Request and Assumption Agreement

  	
   

  
	
  I

  	
  Designated Borrower Notice

  	
   

  

 

iv

 

CREDIT AGREEMENT

 

This CREDIT AGREEMENT (this “Agreement”) is
entered into as of July 15, 2005, among AMPHENOL CORPORATION, a Delaware corporation (the “Company”), certain
Subsidiaries of the Company party hereto pursuant to Section 2.14
(each a “Designated Borrower” and, together with the Company, the “Borrowers”
and, each a “Borrower”), certain Subsidiaries of the Company from time
to time party hereto (each a “Subsidiary Guarantor” and together with
the Company, the “Guarantors”), each lender from time to time party
hereto (collectively, the “Lenders” and individually, a “Lender”),
and BANK OF AMERICA, N.A., as
Administrative Agent, Swing Line Lender and L/C Issuer.

 

The Company has requested that the Lenders provide a
revolving credit facility, and the Lenders are willing to do so on the terms
and conditions set forth herein.

 

In consideration of the mutual covenants and
agreements herein contained, the parties hereto covenant and agree as follows:

 

ARTICLE I

DEFINITIONS AND ACCOUNTING TERMS

 

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

 

“Accounts Receivable
Facility” means the Existing A/R Facility and any accounts receivable
financing program entered into by the Company and/or any of its Subsidiaries on
terms customary for accounts receivable financings; provided, in each
case, that there is no recourse thereunder against the Company or any of its
Subsidiaries for any default by any account obligor in the payment of its
obligations in connection with the accounts receivable subject to such program,
except to the extent that such recourse is limited substantially to the same
extent as under the Existing A/R Facility as in effect on the Closing Date; provided,
further, that any accounts receivable financing program shall cease to
constitute an “Accounts Receivable Facility” in the event the attributes
described in the foregoing proviso cease to exist with regard to such program.

 

“Accounts Receivable
Facility Amount” means,
at any time, the principal component of financing then outstanding under any
Accounts Receivable Facility.

 

“Acquisition” means the acquisition by the
Company or any of its Subsidiaries (by purchase or otherwise) in a single
transaction or in a series of related transactions, of all or substantially all
of the business, property or fixed assets of, or at least a majority of the
stock or other evidence of beneficial ownership of, any Person or any division,
business unit or line of business of any Person.

 

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

 

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

 

“Administrative Questionnaire” means an
Administrative Questionnaire in a form supplied by the Administrative Agent.

 

 

“Affiliate”, as applied to any Person, means
any other Person directly or indirectly controlling, controlled by, or under
common control with, that Person. For the purposes of this definition, “control”
(including, with correlative meanings, the terms “controlling”, “controlled by”
and “under common control with”), as applied to any Person, means the
possession, directly or indirectly, of the power to (i) vote 10% or more
of the Voting Stock of such Person or (ii) direct or cause the direction
of the management and policies of that Person, whether through the ownership of
voting securities or by contract or otherwise.

 

“Aggregate Commitments” means the Commitments
of all the Lenders.

 

“Agreement” means this Credit Agreement.

 

“Alternative Currency” means each of Euro,
Sterling, Yen and each other currency (other
than Dollars) that is approved in accordance with Section 1.05.

 

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

 

“Alternative Currency Sublimit” means an
amount equal to the lesser of the Aggregate Commitments and $100,000,000.  The Alternative Currency Sublimit is part of,
and not in addition to, the Aggregate Commitments.

 

“Applicable Foreign Obligor Documents” has
the meaning specified in Section 6.12(a).

 

“Applicable Percentage” means with respect to
any Lender at any time, the percentage of the Aggregate Commitments represented
by such Lender’s Commitment at such time. 
If the Commitment of each Lender to make Loans and the obligation of the
L/C Issuer to make L/C Credit Extensions have been terminated pursuant to Section 9.02
or if the Aggregate Commitments have expired, then the Applicable Percentage of
each Lender shall be determined based on the Applicable Percentage of such
Lender most recently in effect, giving effect to any subsequent assignments.  The initial Applicable Percentage of each
Lender is set forth opposite the name of such Lender on Schedule 2.01
or in the Assignment and Assumption pursuant to which such Lender becomes a
party hereto, as applicable.

 

“Applicable Rate” means, as of any date, the
following percentage per annum, based upon (a) the most recently publicly
announced Debt Rating or (b) the Consolidated Leverage Ratio as set forth
in the most recent Compliance Certificate received by the Administrative Agent
pursuant to Section 7.01(c) prior to such date, whichever
results in the lower Applicable Rate determined in accordance with the table
set forth below:

 

2

 

Applicable Rate

 

	
  Pricing

  Level

  	
   

  	
  Debt Rating

  or Consolidated

  Leverage Ratio

  	
   

  	
  Facility Fee

  	
   

  	
  Eurocurrency Rate

  Loans and Letter

  of Credit Fee

  	
   

  	
  Base Rate

  Loans

  	
   

  
	
  1

  	
   

  	
  > BBB / Baa2 or

  < 0.5:1.0

  	
   

  	
  0.125

  	
  %

  	
  0.500

  	
  %

  	
  0.00

  	
  %

  
	
  2

  	
   

  	
  BBB- / Baa3 or

  < 1.0:1.0 but

  > 0.5:1.0

  	
   

  	
  0.150

  	
  %

  	
  0.600

  	
  %

  	
  0.00

  	
  %

  
	
  3

  	
   

  	
  BB+ / Ba1 or

  < 2.0:1.0 but

  > 1.0:1.0

  	
   

  	
  0.200

  	
  %

  	
  0.675

  	
  %

  	
  0.00

  	
  %

  
	
  4

  	
   

  	
  BB / Ba2 or

  < 2.5:1.0 but

  > 2.0:1.0

  	
   

  	
  0.250

  	
  %

  	
  0.875

  	
  %

  	
  0.00

  	
  %

  
	
  5

  	
   

  	
  < BB/Ba2 or

  > 2.50:1.0

  	
   

  	
  0.300

  	
  %

  	
  1.075

  	
  %

  	
  0.00

  	
  %

  

 

The Applicable Rate as of any date shall be
determined based upon whichever of the Debt Rating or the Consolidated Leverage
Ratio as of such date results in the lower Applicable Rate.  Upon notice by the Company of a change in the
Debt Rating pursuant to Section 7.01(k)(i) or receipt by the
Administrative Agent of a Compliance Certificate pursuant to Section 7.01(c) indicating
a change in the Consolidated Leverage Ratio, the Applicable Rate shall be
determined based upon whichever of the most recently publicly announced Debt
Rating or the Consolidated Leverage Ratio identified in the most recently
delivered Compliance Certificate delivered pursuant to Section 7.01(c) results
in the lower Applicable Rate, and any change to the Applicable Rate as a result
thereof shall be effective as of the first Business Day immediately following
the date of delivery by the Company to the Administrative Agent of the notice
of a change in the Debt Rating pursuant to Section 7.01(k)(i) or
as of the first Business Day immediately following the date a Compliance
Certificate is delivered pursuant to Section 7.01(c), as the case
may be.  Notwithstanding the foregoing,
the Applicable Rate in effect from the Closing Date through the first Business
Day immediately following the earlier of (y) the date a Compliance Certificate
is required to be delivered pursuant to Section 7.01(c) for
the fiscal quarter ending June 30, 2005 or (z) the date of delivery by the
Company to the Administrative Agent of notice of a change in Debt Rating
pursuant to Section 7.01(k)(i) shall be determined based upon
Pricing Level 2.

 

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

 

“Applicant Borrower” has the meaning
specified in Section 2.14.

 

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

 

“Asset Sale” means the sale by the Company or
any of its Subsidiaries to any Third Party of (i) any of the stock or
other ownership interests of any of the Company’s Subsidiaries, (ii) substantially
all of the assets of any division or line of business of the Company or any of
its Subsidiaries, or (iii) any other assets (whether tangible or
intangible) of the Company or any of its Subsidiaries outside of the

 

3

 

ordinary
course of business (other than (a) accounts receivable sold pursuant to
any Accounts Receivable Facility permitted by Section 8.01(k) and (b) any
other such assets to the extent that the aggregate value of such assets sold in
any single transaction or related series of transactions is equal to $1,000,000
or less).

 

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

 

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

 

“Attributable Indebtedness” means, on any
date, (a) in respect of any Capital Lease of any Person, the capitalized
amount thereof that would appear on a balance sheet of such Person prepared as
of such date in accordance with GAAP, (b) in respect of any Synthetic
Lease Obligation, the capitalized amount of the remaining lease payments under
the relevant lease that would appear on a balance sheet of such Person prepared
as of such date in accordance with GAAP if such lease were accounted for as a
Capital Lease and (c) in respect of any Accounts Receivable Facility, the Accounts
Receivable Facility Amount.

 

“Audited Financial Statements” means the
audited consolidated balance sheet of the Company and its Subsidiaries for the
fiscal year ended December 31, 2004, and the related consolidated
statements of income or operations, shareholders’ equity and cash flows for
such fiscal year of the Company and its Subsidiaries, including the notes
thereto.

 

“Available Amount” means, as of any date of
determination, an amount equal to (i) the aggregate amount of net cash
proceeds received by the Company after the Closing Date in respect of any
equity contributions made to the Company by, or any Equity Issuances of capital
stock by the Company to, any Third Party other than an Unrestricted Subsidiary
(other than proceeds from purchases of capital stock of the Company to the
extent such purchases are financed with the proceeds of Investments permitted
under Section 8.03(b)) minus (ii) any proceeds received
by the Company from the issuance of new shares of its common stock to the
extent such proceeds are used as provided in Section 8.04(b).

 

“Available Amount Usage” means, as of any
date of determination, an amount equal to the sum of the aggregate amount of
Investments made pursuant to Section 8.03(g)(ii) as of such
date.

 

“Availability Period” means the period from
and including the Closing Date to the earliest of (a) the Maturity Date, (b) the
date of termination of the Aggregate Commitments pursuant to Section 2.06,
and (c) the date of termination of the commitment of each Lender to make
Loans and of the obligation of the L/C Issuer to make L/C Credit Extensions
pursuant to Section 9.02.

 

“Bank of America” means Bank of America, N.A.
and its successors.

 

“Base Rate” means for any day a fluctuating
rate per annum equal to the higher of (a) the Federal Funds Rate plus 1/2
of 1% and (b) the rate of interest in effect for such day as publicly
announced from time to time by Bank of America as its “prime rate.”  The “prime rate” is a rate set by Bank of
America based upon various factors including Bank of America’s costs and
desired return, general economic conditions and other factors, and is used as a
reference point for pricing some loans, which may be priced at, above, or below
such announced rate.  Any change in such
rate announced by Bank of America shall take effect at the opening of business
on the day specified in the public announcement of such change.

 

4

 

“Base Rate Committed Loan” means a Committed
Loan that is a Base Rate Loan.

 

“Base Rate Loan” means a Loan that bears interest based on the Base
Rate.  All Base Rate Loans shall be
denominated in Dollars.

 

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

 

“Borrower Materials” has the meaning
specified in Section 7.01.

 

“Borrowing” means a Committed Borrowing or a
Swing Line Borrowing, as the context may require.

 

“Business Day” means any day other than a
Saturday, Sunday or other day on which commercial banks are authorized to close
under the Laws of, or are in fact closed in, New York, New York or the state
where the Administrative Agent’s Office with respect to Obligations denominated
in Dollars is located and:

 

(a)                                  if such day relates to any interest rate
settings as to a Eurocurrency Rate Loan denominated in Dollars, any fundings,
disbursements, settlements and payments in Dollars in respect of any such Eurocurrency
Rate Loan, or any other dealings in Dollars to be carried out pursuant to this
Agreement in respect of any such Eurocurrency Rate Loan, means any such day on
which dealings in deposits in Dollars are conducted by and between banks in the
London interbank eurodollar market;

 

(b)                                 if such day relates to any interest rate
settings as to a Eurocurrency Rate Loan denominated in Euro, any fundings,
disbursements, settlements and payments in Euro in respect of any such
Eurocurrency Rate Loan, or any other dealings in Euro to be carried out
pursuant to this Agreement in respect of any such Eurocurrency Rate Loan, means
a TARGET Day;

 

(c)                                  if such day relates to any interest rate
settings as to a Eurocurrency Rate Loan denominated in a currency other than Dollars
or Euro, means any such day on which dealings in deposits in the relevant
currency are conducted by and between banks in the London or other applicable
offshore interbank market for such currency; and

 

(d)                                 if such day relates to any fundings, disbursements,
settlements and payments in a currency other than Dollars or Euro in respect of
a Eurocurrency Rate Loan denominated in a currency other than Dollars or Euro,
or any other dealings in any currency other than Dollars or Euro to be carried
out pursuant to this Agreement in respect of any such Eurocurrency Rate Loan
(other than any interest rate settings), means any such day on which banks are
open for foreign exchange business in the principal financial center of the
country of such currency.

 

“Capital Lease”, as applied to any Person,
means any lease of any property (whether real, personal or mixed) by that
Person as lessee that, in conformity with GAAP, is accounted for as a capital
lease on the balance sheet of that Person.

 

“Cash Collateralize” has the meaning
specified in Section 2.03(g).

 

“Cash Equivalents” means (i) marketable
securities (a) issued or directly and unconditionally guaranteed as to
interest and principal by the United States Government or (b) issued by
any agency of

 

5

 

the
United States the obligations of which are backed by the full faith and credit
of the United States, in each case maturing within 24 months after the date of
acquisition thereof; (ii) marketable direct obligations issued by any
state of the United States of America or any political subdivision of any such
state or any public instrumentality thereof, in each case maturing within 24
months after the date of acquisition thereof and having, at the time of the
acquisition thereof, an investment grade rating generally obtainable from
either S&P or Moody’s; (iii) commercial paper maturing no more than 12
months from the date of creation thereof and having, at the time of the
acquisition thereof, a rating of at least A-2 from S&P or at least P-2 from
Moody’s; (iv) domestic and Eurodollar certificates of deposit or bankers’
acceptances maturing within 24 months after the date of acquisition thereof and
issued or accepted by any Lender or by any other commercial bank that has combined
capital and surplus of not less than $250,000,000; (v) repurchase
agreements with a term of not more than 30 days for underlying securities of
the types described in clauses (i), (ii) and (iv) above entered into
with any commercial bank meeting the requirements specified in clause (iv) above
or with any securities dealer of recognized national standing, (vi) shares
of investment companies that are registered under the Investment Company Act of
1940 and that invest solely in one or more of the types of investments referred
to in clauses (i) through (v) above, and (vii) in the case of
any Foreign Subsidiary, high quality, short-term liquid Investments made by
such Foreign Subsidiary in the ordinary course of managing its surplus cash
position in a manner consistent with past practices.

 

“Change in Law” means the occurrence, after
the date of this Agreement (or, in the case of an Eligible Assignee, after the
date such Eligible Assignee becomes a party to this Agreement), of any of the
following: (a) the adoption or taking effect of any law, rule, regulation
or treaty, (b) any change in any law, rule, regulation or treaty or in the
administration, interpretation or application thereof by any Governmental
Authority or (c) the making or issuance of any request, guideline or
directive (whether or not having the force of law) by any Governmental
Authority.

 

“Change of Control” means an event or series
of events by which:

 

(a)                                  any “person” or “group” (as such terms are
used in Sections 13(d) and 14(d) of the Securities Exchange Act
of 1934, but excluding any employee benefit plan of such person or its
subsidiaries, and any person or entity acting in its capacity as trustee, agent
or other fiduciary or administrator of any such plan) becomes the “beneficial
owner” (as defined in Rules 13d-3 and 13d-5 under the Securities Exchange
Act of 1934, except that a person or group shall be deemed to have “beneficial
ownership” of all securities that such person or group has the right to acquire
(such right, an “option right”), whether such right is exercisable
immediately or only after the passage of time), directly or indirectly, of 35%
or more of the Voting Stock of the Company on a fully-diluted basis (and taking
into account all such securities that such person or group has the right to
acquire pursuant to any option right); or

 

(b)                                 during any period of 12 consecutive months, a
majority of the members of the board of directors or other equivalent governing
body of the Company cease to be composed of individuals (i) who were
members of that board or equivalent governing body on the first day of such
period, (ii) whose election or nomination to that board or equivalent
governing body was approved by individuals referred to in clause (i) above
constituting at the time of such election or nomination at least a majority of
that board or equivalent governing body or (iii) whose election or
nomination to that board or other equivalent governing body was approved by
individuals referred to in clauses (i) and (ii) above
constituting at the time of such election or nomination at least a majority of
that board or equivalent governing body.

 

“Closing Date” means July 15, 2005.

 

6

 

“Commitment” means, as to each Lender, its
obligation to (a) make Committed Loans to the Borrowers pursuant to Section 2.01,
(b) purchase participations in L/C Obligations, and (c) purchase
participations in Swing Line Loans, in an aggregate principal amount at any one
time outstanding not to exceed the Dollar amount set forth opposite such Lender’s
name on Schedule 2.01 or in the Assignment and Assumption pursuant
to which such Lender becomes a party hereto, as applicable, as such amount may
be adjusted from time to time in accordance with this Agreement.

 

“Committed Borrowing” means a borrowing
consisting of simultaneous Committed Loans of the same Type, in the same
currency and, in the case of Eurocurrency Rate Loans, having the same Interest
Period made by each of the Lenders pursuant to Section 2.01.

 

“Committed Loan” has the meaning specified in
Section 2.01.

 

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

 

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

 

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

 

“Consolidated Corporation” has the meaning
specified in Section 6.07.

 

“Consolidated EBITDA” means, for any period,
for the Company and its Subsidiaries on a consolidated basis, an amount equal
to Consolidated Net Income for such period plus (a) the following
to the extent deducted in calculating such Consolidated Net Income: (i) Consolidated
Interest Expense for such period, (ii) the provision for Federal, state,
local and foreign income taxes payable by the Company and its Subsidiaries for
such period, (iii) depreciation and amortization expense, (iv) other non-cash
charges for such period, (v) all non-cash losses for such period, (vi) any
expenses or charges incurred in connection with any Equity Issuances (including
upfront fees payable in respect of bank facilities), (vii) any
restructuring charges or reserves or non-recurring cash charges in an aggregate
amount in the case of the cash portion thereof not to exceed $5,000,000 in any
consecutive twelve month period ending on any date of determination, (viii) any
fees and expenses related to Acquisitions and Investments permitted hereunder
and (ix) any deduction for minority interest expense, minus (b) to
the extent included in calculating Consolidated Net Income for such period, all
non-cash income or gains for such period, all as determined in accordance with
GAAP.

 

“Consolidated Funded Indebtedness” means, without
duplication, as of any date of determination, (a) the aggregate stated
balance sheet amount of all Indebtedness of the Company and its Subsidiaries
under clauses (a), (b) and (c) of the definition of “Indebtedness”
(but only to the extent, in the case of said clause (c), of any drawings
honored under letters of credit and not yet reimbursed by the Company or any of
its Subsidiaries), as determined on a consolidated basis in accordance with
GAAP plus (b) the Accounts Receivable Facility Amount.

 

“Consolidated Interest Expense” means, for
any period, for the Company and its Subsidiaries on a consolidated basis, the
sum of all interest, premium payments, debt discount, fees, charges and related
expenses of the Company and its Subsidiaries in connection with borrowed money
(including capitalized interest and other fees and charges incurred under any Accounts
Receivable Facility) or in connection with the deferred purchase price of
assets, but excluding, however, any interest expense not payable in cash during
such period, in each case to the extent treated as interest in accordance with
GAAP.

 

7

 

“Consolidated Interest Coverage Ratio” means,
as of the last day of any fiscal quarter of the Company, the ratio of (a) Consolidated
EBITDA for the period of the four prior fiscal quarters ending on such date to (b) Consolidated
Interest Expense for such period, each as determined on a consolidated basis in
accordance with GAAP.

 

“Consolidated Leverage Ratio” means, as of
the last day of any fiscal quarter of the Company, the ratio of (a) Consolidated
Funded Indebtedness as of such date to (b) Consolidated EBITDA for the period of the four fiscal
quarters ended on such date.

 

“Consolidated Net Income” means, for any
period, for the Company and its Subsidiaries on a consolidated basis, the net
income of the Company and its Subsidiaries (excluding extraordinary gains and
extraordinary losses) for that period, determined on a consolidated basis in
accordance with GAAP.

 

“Consolidated Net Worth” means, as of any
date of determination, for the Company and its Subsidiaries on a consolidated
basis, Shareholders’ Equity of the Company and its Subsidiaries on that date
(excluding any accumulated other comprehensive gain or loss on the Company’s consolidated
balance sheet).

 

“Consolidated Total
Assets” means, as of any date of determination, all assets of the Company
and its Subsidiaries as determined in accordance with GAAP.  

 

“Contractual Obligation”, as applied to any
Person, means any provision of any security issued by that Person or of any
material indenture, mortgage, deed of trust, contract, undertaking, agreement
or other instrument to which that Person is a party or by which it or any of
its properties is bound or to which it or any of its properties is subject.

 

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

 

“Debt Rating” means, as of any date of
determination, the rating as determined by
the Ratings Agencies (collectively, the “Debt Ratings”) of the Company’s
non-credit-enhanced, senior unsecured long-term debt; provided that if a
Debt Rating is issued by each of the Rating Agencies and there is a split
rating, then the higher of such Debt Ratings shall apply (with the Debt Rating
for Pricing Level 1 being the highest and the Debt Rating for Pricing
Level 5 being the lowest), unless there is a split in Debt Ratings of more
than one level, in which case the Pricing Level that is one level lower than
the level of the higher Debt Rating shall apply.

 

“Debtor Relief Laws” means the Bankruptcy
Code of the United States, and all other liquidation, conservatorship,
bankruptcy, assignment for the benefit of creditors, moratorium, rearrangement,
receivership, insolvency, reorganization, or similar debtor relief Laws of the
United States or other applicable jurisdictions from time to time in effect and
affecting the rights of creditors generally.

 

“Declaration Date” has the meaning specified
in Section 8.04(d).

 

“Default” means any event or condition that
constitutes an Event of Default or that, with the giving of any notice, the
passage of time, or both, would be an Event of Default.

 

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

 

8

 

Mandatory
Cost) otherwise applicable to such Eurocurrency Rate Loan plus 2% per annum,
and (b) when used with respect to Letter of Credit Fees, a rate equal to
the Applicable Rate plus 2% per annum.

 

“Defaulting Lender” means any Lender that (a) has
failed to fund any portion of the Committed Loans, participations in L/C
Obligations or participations in Swing Line Loans required to be funded by it
hereunder within one Business Day of the date required to be funded by it
hereunder, (b) has otherwise failed to pay over to the Administrative
Agent or any other Lender any other amount required to be paid by it hereunder
within one Business Day of the date when due, unless the subject of a good
faith dispute, or (c) has been deemed insolvent or become the subject of a
bankruptcy or insolvency proceeding.

 

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

 

“Designated Borrower Notice” has the meaning
specified in Section 2.14.

 

“Designated Borrower Obligations” means all
advances to, and debts, liabilities, obligations, covenants and duties of, the
Designated Borrowers arising under any Loan Document or otherwise with respect
to any Loan or Letter of Credit, whether direct or indirect (including those
acquired by assumption), absolute or contingent, due or to become due, now
existing or hereafter arising and including interest and fees that accrue after
the commencement by or against any Designated Borrower or any Affiliate thereof
of any proceeding under any Debtor Relief Laws naming such Person as the debtor
in such proceeding, regardless of whether such interest and fees are allowed
claims in such proceeding.

 

“Designated Borrower Request and Assumption
Agreement” has the meaning specified in Section 2.14.

 

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

 

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

 

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

 

“Eligible Assignee” means (a) a Lender; (b) an
Affiliate of a Lender (unless a transfer to such Affiliate would result in
increased costs to any Borrower); (c) an Approved Fund; and (d) any
other Person (other than a natural person) approved by (i) the
Administrative Agent, the L/C Issuer and the Swing Line Lender, and (ii) unless
an Event of Default has occurred and is continuing, the Company (each such
approval not to be unreasonably withheld or delayed); provided that
notwithstanding the foregoing, “Eligible Assignee” shall not include the
Company or any of the Company’s Affiliates or Subsidiaries; and provided
further, however, that an Eligible Assignee shall include only a
Lender, an Affiliate of a Lender or another Person, which, through its Lending
Offices, is capable of lending the applicable Alternative Currencies to the
relevant Borrowers without the imposition of any additional Indemnified Taxes.

 

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

 

9

 

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

 

“Environmental Claims” means any and all
administrative, regulatory or judicial actions, suits, demands, demand letters,
claims, liens, notices of noncompliance or violation, investigations (other
than internal reports prepared by the Company or any of its Subsidiaries (i) in
the ordinary course of such Person’s business or (ii) as required in
connection with a financing transaction or an acquisition or disposition of
real estate) or proceedings relating in any way to any Environmental Law (for
purposes of this definition, “Claims”), including (a) any and all
Claims by governmental or regulatory authorities for enforcement, cleanup,
removal, response, remedial or other actions or damages pursuant to any
applicable Environmental Law and (b) any and all Claims by any Third Party
seeking damages, contribution, indemnification, cost recovery, compensation or
injunctive relief resulting from Hazardous Materials or arising from alleged
injury or threat of injury to health, safety or the environment.

 

“Environmental Laws” means any and all applicable
present and future laws, statutes, ordinances, rules, regulations,
requirements, restrictions, permits, orders, and determinations of any
governmental authority that have the force and effect of law, and that pertain
to pollution (including hazardous, toxic or dangerous substances), or
protection of natural resources or the environment, whether federal, state, or
local, domestic or foreign including environmental response laws such as the
Comprehensive Environmental Response, Compensation and Liability Act of 1980,
as amended by the Superfund Amendments and Reauthorization Act of 1986 and as
the same may be further amended (hereinafter collectively called “CERCLA”).

 

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

 

“Equity Issuance” means any issuance by the
Company or any Subsidiary to any Person of shares of its Equity Interests,
other than (a) any issuance of shares of its Equity Interests pursuant to
the exercise of options or warrants, (b) any issuance of shares of its
Equity Interests pursuant to the conversion of any debt securities to equity or
the conversion of any class equity securities to any other class of equity
securities, (c) any issuance of options or warrants relating to its Equity
Interests, (d) any issuance by the Company of shares of its Equity
Interests as consideration for a Permitted Acquisition and (e) any
issuance of shares of Equity Interests from a Subsidiary to the Company or any
other Subsidiary.  The term “Equity
Issuance” shall not be deemed to include any Asset Sale.

 

“ERISA” means the Employee Retirement Income
Security Act of 1974, as amended, and any regulations promulgated thereunder.

 

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

 

“ERISA Event” means any of the following
events or occurrences if such event or occurrence could, individually or in the
aggregate, reasonably be expected to have a Material Adverse Effect:  (i) the failure to make a required
contribution to a Pension Plan; (ii) a withdrawal by the Company, any of
its Subsidiaries or any ERISA Affiliate from a Pension Plan subject to Section 4063
of ERISA during a plan

 

10

 

year
in which it was a substantial employer (as defined in Section 4001(a)(2) of
ERISA), or a cessation of operation which is treated as such a withdrawal under
Section 4062(e) of ERISA; (iii) a complete or partial withdrawal
by the Company, any of its Subsidiaries or any ERISA Affiliate from a
Multiemployer Plan or notification that a Multiemployer Plan is in
reorganization or is insolvent pursuant to Section 4241 or 4245 of ERISA; (iv) the
filing of a notice of intent to terminate, the treatment of a Plan amendment as
a termination under Section 4041 or 4041A of ERISA, or the commencement of
proceedings by the PBGC to terminate, in each case with respect to a Pension
Plan or Multiemployer Plan; (v) an event or condition which might
reasonably be expected to constitute grounds under Section 4042 of ERISA
for the termination of, or the appointment of a trustee to administer, any
Pension Plan or Multiemployer Plan; (vi) the imposition of any liability
upon the Company, any of its Subsidiaries or any ERISA Affiliate under Title IV
of ERISA (other than with respect to PBGC premiums due but not delinquent under
Section 4007 of ERISA) upon the Company, any of its Subsidiaries or any
ERISA Affiliate; (vii) the imposition of a Lien pursuant to Section 401(a)(29)
or 412(n) of the Internal Revenue Code or pursuant to ERISA with respect to any
Pension Plan; (viii) receipt from the Internal Revenue Service of notice
of the failure of any Pension Plan (or any other Plan intended to qualify under
Section 401(a) of the Internal Revenue Code) to qualify under Section 401(a) of
the Internal Revenue Code, or the failure of any trust forming part of any
Pension Plan to qualify for exemption from taxation under Section 501(a) of
the Internal Revenue Code; or (ix) the violation of any applicable foreign
law, or an event or occurrence that is comparable to any of the foregoing
events or occurrences, in either case with respect to a Plan that is not
subject to regulation under ERISA by reason of Section 4(b)(4) of
ERISA.

 

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

 

“Eurocurrency Rate” means, for any Interest
Period with respect to a Eurocurrency Rate Loan, the rate per annum equal to
the British Bankers Association LIBOR Rate (“BBA LIBOR”), as published
by Reuters (or other commercially available source providing quotations of BBA
LIBOR as designated by the Administrative Agent from time to time) at
approximately 11:00 a.m., London time, two Business Days prior to the
commencement of such Interest Period, for deposits in the relevant currency
(for delivery on the first day of such Interest Period) with a term equivalent
to such Interest Period.  If such rate is
not available at such time for any reason, then the “Eurocurrency Rate” for
such Interest Period shall be the rate per annum determined by the
Administrative Agent to be the rate at which deposits in the relevant currency
for delivery on the first day of such Interest Period in Same Day Funds in the
approximate amount of the Eurocurrency Rate Loan being made, continued or
converted by Bank of America and with a term equivalent to such Interest Period
would be offered by Bank of America’s London Branch (or other Bank of America
branch or Affiliate) to major banks in the London or other offshore interbank
market for such currency at their request at approximately 11:00 a.m.
(London time) two Business Days prior to the commencement of such Interest
Period.

 

“Eurocurrency Rate Loan” means a Committed
Loan that bears interest at a rate based on the Eurocurrency Rate.  Eurocurrency Rate Loans may be denominated in
Dollars or in an Alternative Currency. 
All Committed Loans denominated in an Alternative Currency must be
Eurocurrency Rate Loans.

 

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

 

“Excluded Taxes” means, with respect to the
Administrative Agent, any Lender, the L/C Issuer or any other recipient of any
payment to be made by or on account of any obligation of any Borrower
hereunder, (a) taxes imposed on or measured by its overall net income
(however denominated), and franchise taxes imposed on it (in lieu of net income
taxes), by the jurisdiction (or any political subdivision thereof) under the
laws of which such recipient is organized or in which its principal office is
located or,

 

11

 

in
the case of any Lender, in which its applicable Lending Office is located, (b) any
branch profits taxes imposed by the United States or any similar tax imposed by
any other jurisdiction in which such Borrower is located and (c) except as
provided in the following sentence, in the case of a Foreign Lender (other than
an assignee pursuant to a request by the Company under Section 11.13),
any withholding tax that is imposed on amounts payable to such Foreign Lender
at the time such Foreign Lender becomes a party hereto (or designates a new
Lending Office) or is attributable to such Foreign Lender’s failure or
inability (other than as a result of a Change in Law) to comply with Section 3.01(e),
except to the extent that such Foreign Lender (or its assignor, if any) was
entitled, at the time of designation of a new Lending Office (or assignment),
to receive additional amounts from the applicable Borrower with respect to such
withholding tax pursuant to Section 3.01(a).  Notwithstanding anything to the contrary
contained in this definition, “Excluded Taxes” shall not include any
withholding tax imposed at any time on payments made by or on behalf of a
Foreign Obligor to any Lender hereunder or under any other Loan Document, provided
that such Lender shall have complied with the last paragraph of Section 3.01(e).

 

“Existing A/R Facility” means that certain
Amended and Restated Receivables Purchase Agreement dated as of May 19,
1997 by and among Amphenol Funding Corp., a Delaware corporation, as seller,
the Company, individually and as initial servicer, Pooled Accounts Receivable
Capital Corporation, as purchaser and Nesbitt Burns Securities, Inc., as
agent, as the same may be amended, modified or supplemented from time to time
in accordance with the terms hereof and thereof.

 

“Existing Credit Agreement” means that
certain Credit Agreement dated as of May 6, 2003 among the Company,
Deutsche Bank Trust Company Americas, as administrative agent and collateral
agent, and the other lenders party thereto.

 

“Existing Letters of Credit” means those
letters of credit identified on Schedule 2.03.

 

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

 

“Fee Letter” means the letter agreement,
dated May 25, 2005, among the Company, Bank of America, the Joint Lead
Arrangers and Wachovia Bank, National Association.

 

“Foreign Lender” means any Lender that is
organized under the laws of a jurisdiction other than that in which the applicable
Borrower is resident for tax purposes. 
For purposes of this definition, the United States, each State thereof
and the District of Columbia shall be deemed to constitute a single
jurisdiction.

 

“Foreign Obligor” means a Designated Borrower
that is a Foreign Subsidiary.

 

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

 

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

 

12

 

“Fully Satisfied” means, with respect to the
Obligations as of any date, that, as of such date, (a) all principal of
and interest accrued to such date which constitute Obligations shall have been
paid in full in cash, (b) all fees, expenses and other amounts then due
and payable which constitute Obligations shall have been paid in cash, (c) all
outstanding Letters of Credit shall have been (i) terminated, (ii) fully
Cash Collateralized or (iii) secured by one or more letters of credit on
terms and conditions, and with one or more financial institutions, reasonably
satisfactory to the L/C Issuer and (d) the Commitments shall have expired
or been terminated in full.

 

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

 

“GAAP” means generally accepted accounting
principles in the United States set forth in the opinions and pronouncements of
the Accounting Principles Board and the American Institute of Certified Public
Accountants and statements and pronouncements of the Financial Accounting
Standards Board or such other principles as may be approved by a significant
segment of the accounting profession in the United States, that are applicable
to the circumstances as of the date of determination, consistently applied.

 

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

 

“Guarantee” means, as to any Person, any obligation
of such Person guaranteeing or intended to guarantee any Indebtedness of any
other Person (the “Primary Obligor”) in any manner, whether directly or
indirectly, including, without limitation, any obligation of such Person,
whether or not contingent, (i) to purchase any such Indebtedness or any
property constituting direct or indirect security therefor, (ii) to
advance or supply funds (A) for the purchase or payment of any such
Indebtedness or (B) to maintain working capital or equity capital of the
Primary Obligor or otherwise to maintain the net worth or solvency of the
Primary Obligor, (iii) to purchase property, Equity Interests or services
primarily for the purpose of assuring the owner of any such Indebtedness of the
ability of the Primary Obligor to make payment of such Indebtedness or (iv) otherwise
to assure or hold harmless the owner of such Indebtedness against loss in
respect thereof; provided, however, that the term “Guarantee”
shall not include endorsements of instruments for deposit or collection in the
ordinary course of business.  The amount
of any Guarantee shall be deemed to be an amount equal to the stated or
determinable amount of the Indebtedness in respect of which such Guarantee is
made or, if not stated or determinable, the maximum reasonably anticipated
liability in respect thereof (assuming such Person is required to perform
thereunder) as determined by such Person in good faith.  The term “Guarantee” as a verb has a
corresponding meaning.

 

“Guarantors” means a collective reference to (a) the
Company, in its capacity as a guarantor of the Designated Borrower Obligations
and (b) the Subsidiary Guarantors.

 

“Guaranty” means the Guaranty made by the
Guarantors in favor of the Administrative Agent and the Lenders pursuant to Article IV
hereof.

 

“Hazardous Materials” means any substance
that is defined or listed as a hazardous, toxic or dangerous substance under
any present or future applicable Environmental Law or that is otherwise
regulated or prohibited or subject to investigation or remediation under any
present or future applicable

 

13

 

Environmental
Law because of its hazardous, toxic, or dangerous properties, including (i) any
substance that is a “hazardous substance” under CERCLA (as defined in the
definition of “Environmental Laws”) and (ii) petroleum wastes or
products.

 

“Indebtedness”, as applied to any Person at a
particular time, means without duplication, all of the following, whether or
not included as indebtedness or liabilities in accordance with GAAP:

 

(a)                                  all obligations of such Person for borrowed
money and all obligations of such Person evidenced by bonds, debentures, notes,
loan agreements or other similar instruments;

 

(b)                                 that portion of obligations with respect to
Capital Leases that is properly classified as a liability on a balance sheet of
such Person in conformity with GAAP,

 

(c)                                  any obligation incurred by such Person in
connection with banker’s acceptances and the maximum aggregate amount from time
to time available for drawing under all outstanding letters of credit issued
for the account of such Person together, without duplication, with the amount
of all honored but unreimbursed drawings thereunder;

 

(d)                                 all monetary obligations of such Person under
any Swap Contract;

 

(e)                                  all obligations of such Person to pay for all
or any part of the deferred purchase price of property or services (excluding
any such obligations incurred under ERISA, any trade accounts payable in the
ordinary course of business and earn out obligations related to any Permitted
Acquisitions), including, without limitation, purchase money Indebtedness,
which purchase price (a) is due more than six months from the date of
incurrence of the obligation in respect thereof and (b) would be shown on
the liability side of the balance sheet of such Person in accordance with GAAP;

 

(f)                                    all indebtedness referred to in clauses (a) through
(e) above secured by any Lien on any property or asset owned or held by
that Person regardless of whether the indebtedness secured thereby shall have
been assumed by that Person or is nonrecourse to the credit of that Person;

 

(g)                                 the Attributable Indebtedness of Synthetic
Lease Obligations and any Accounts Receivable Facility;

 

(h)                                 all Guarantees of such Person in respect of
any of the foregoing; and

 

(i)                                     all Indebtedness of the types referred to in
clauses (a) through (g) above of any partnership or joint venture
(other than a joint venture that is itself a corporation or limited liability
company) in which the Company or any Subsidiary is a general partner or a joint
venturer to the extent the Company or any Subsidiary is liable for such
Indebtedness pursuant to applicable Law.

 

“Indemnified Taxes” means Taxes other than
Excluded Taxes.

 

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

 

“Information” has the meaning specified in Section 11.07.

 

14

 

“Intellectual Property” means all patents,
trademarks, tradenames, copyrights, technology, know-how and processes used in
or necessary for the conduct of the business of the Company and its
Subsidiaries as currently conducted that are material to the condition
(financial or otherwise), business or operations of the Company and its
Subsidiaries, taken as a whole.

 

“Interest Payment Date” means, (a) as to
any Loan other than a Base Rate Loan, the last day of each Interest Period
applicable to such Loan and the Maturity Date; provided, however,
that if any Interest Period for a Eurocurrency Rate Loan exceeds three months,
the respective dates that fall every three months after the beginning of such
Interest Period shall also be Interest Payment Dates; and (b) as to any
Base Rate Loan (including a Swing Line Loan), the last Business Day of each
March, June, September and December and the Maturity Date.

 

“Interest Period” means, as to each
Eurocurrency Rate Loan, the period commencing on the date such Eurocurrency
Rate Loan is disbursed or converted to or continued as a Eurocurrency Rate Loan
and ending on the date one, two, three or six months thereafter, as selected by
the Company in its Committed Loan Notice or, nine or twelve months thereafter,
as requested by the Company and consented to by all Lenders; provided
that:

 

(i)                                     any Interest Period that would otherwise end
on a day that is not a Business Day shall be extended to the next succeeding
Business Day unless such Business Day falls in another calendar month, in which
case such Interest Period shall end on the next preceding Business Day;

 

(ii)                                  any Interest Period that begins on the last
Business Day of a calendar month (or on a day for which there is no numerically
corresponding day in the calendar month at the end of such Interest Period)
shall end on the last Business Day of the calendar month at the end of such
Interest Period; and

 

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

 

“Internal Revenue Code” means the Internal
Revenue Code of 1986, as amended to the Closing Date and from time to time
thereafter, and any successor statute.

 

“Investment” means (i) any purchase or
other acquisition by the Company or any of its Subsidiaries of, or of a
beneficial interest in, any Equity Interests of any other Person (other than a
Person that prior to such purchase or acquisition was a Subsidiary of the
Company), (ii) any loan, advance (other than advances to employees for
moving, entertainment and travel expenses, drawing accounts and similar
expenditures in the ordinary course of business) or capital contribution by the
Company or any of its Subsidiaries to any Third Party, including all
indebtedness and accounts receivable from that Third Party that are not current
assets or did not arise from sales to that Third Party in the ordinary course
of business, or (iii) the designation of any Person as an Unrestricted
Subsidiary.  The amount of any Investment
shall be (A) the original cost of such Investment (determined, in the case
of an Investment described in clause (iii) above, as provided in the
definition of “Subsidiary”), without any adjustments for increases or decreases
in value, or write-ups, write-downs or write-offs with respect to such
Investment, minus (B) the lesser of (1) the aggregate amount
of any repayments, redemptions, dividends or distributions thereon or proceeds
from the sale thereof, in each case to the extent of cash payments (including
any cash received by way of deferred payment pursuant to, or monetization of, a
note receivable or otherwise, but only as and when so received) actually
received by the Company or the applicable Subsidiary of the Company, and (2) the
aggregate amount described in the immediately preceding clause (A).

 

“IRS” means the United States Internal
Revenue Service.

 

15

 

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

 

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

 

“Joinder Agreement” means a joinder agreement
substantially in the form of Exhibit G executed and delivered by a
direct or indirect Domestic Subsidiary that is a Material Subsidiary in
accordance with the provisions of Section 7.07.

 

“Joint Lead Arrangers” means Banc of America
Securities LLC and Wachovia Capital Markets, LLC.

 

“Joint Venture” means a joint venture,
partnership or other similar arrangement, whether in corporate, partnership or
other legal form; provided that in no event shall any corporate Subsidiary
of any Person be considered to be a Joint Venture to which such Person is a
party.

 

“Laws” means as to any Person, any law,
treaty, executive order, rule or regulation or determination of an
arbitrator or a court or other Governmental Authority, in each case applicable
to or binding upon such Person or any of its property or to which such Person
or any of its property is subject.

 

“L/C Advance” means, with respect to each
Lender, such Lender’s funding of its participation in any L/C Borrowing in accordance
with its Applicable Percentage.  All L/C Advances shall be denominated in Dollars.

 

“L/C Borrowing” means an extension of credit
resulting from a drawing under any Letter of Credit which has not been
reimbursed on the date when made or refinanced as a Committed Borrowing.  All L/C
Borrowings shall be denominated in Dollars.

 

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

 

“L/C Issuer” means Bank of America in its
capacity as issuer of Letters of Credit hereunder, or any successor issuer of
Letters of Credit hereunder. 
Notwithstanding the foregoing, Deutsche Bank Trust Company Americas
shall be the L/C Issuer with respect to the Existing Letters of Credit
identified in Schedule 2.03.

 

“L/C Obligations” means, as at any date of
determination, the then Dollar Equivalent of the aggregate amount available to
be drawn under all outstanding Letters of Credit plus the aggregate of
all Unreimbursed Amounts, including all L/C Borrowings.  For purposes of computing the amount
available to be drawn under any Letter of Credit, the amount of such Letter of
Credit shall be determined in accordance with Section 1.08.  For all purposes of this Agreement, if on any
date of determination a Letter of Credit has expired by its terms but any
amount may still be drawn thereunder by reason of the operation of Rule 3.14
of the ISP, such Letter of Credit shall be deemed to be “outstanding” in the
amount so remaining available to be drawn.

 

“Lender” has the meaning specified in the
introductory paragraph hereto and, as the context requires, includes the L/C
Issuer and the Swing Line Lender.

 

16

 

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

 

“Letter of Credit” means any letter of credit
issued hereunder and shall include the Existing
Letters of Credit.  A Letter of Credit
may be a commercial Letter of Credit or a standby Letter of Credit.  Letters of Credit may be issued in Dollars or
in an Alternative Currency.

 

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

 

“Letter of Credit Expiration Date” means the
day that is five days prior to the Maturity Date then in effect (or, if such
day is not a Business Day, the next preceding Business Day).

 

“Letter of Credit Fee” has the meaning
specified in Section 2.03(i).

 

“Letter of Credit Sublimit” means an amount
equal to $75,000,000.  The Letter of
Credit Sublimit is part of, and not in addition to, the Aggregate Commitments.

 

“Lien” means any lien, mortgage,
hypothecation, pledge, assignment, security interest, charge or other similar
encumbrance of any kind (including any conditional sale or other title
retention agreement, any lease in the nature thereof, and any agreement to give
any security interest) and any other similar preferential arrangement having
the practical effect of any of the foregoing.

 

“Loan” means an extension of credit by a
Lender to a Borrower under Article II in the form of a Committed
Loan or a Swing Line Loan.

 

“Loan Documents” means this Agreement, each
Designated Borrower Request and Assumption Agreement, each Note, each Issuer
Document and the Fee Letter, each as amended, modified, supplemented, extended,
renewed, restated or substituted from time to time.

 

“Loan Party” means the Company, each
Designated Borrower and each Subsidiary Guarantor, and “Loan Parties” means all
such Persons, collectively.

 

“Mandatory Cost” means, with respect to any
period, the percentage rate per annum determined in accordance with Schedule 1.01.

 

“Margin Stock” has the meaning assigned to
that term in Regulation U of the Board of Governors of the Federal Reserve
System as in effect from time to time.

 

“Material Adverse Effect” means (a) a
material adverse change in, or a material adverse effect upon, the business,
assets, operations, properties or financial condition of the Company and its
Subsidiaries taken as a whole; (b) a material impairment of the ability of
the Loan Parties, taken as a whole, to perform their obligations under this
Agreement and the other Loan Documents; or (c) a material impairment of
the rights and remedies of the Administrative Agent and Lenders under this
Agreement and the other Loan Documents.

 

“Material Subsidiary” means any Subsidiary
with respect to which either of the following criteria has been met:  (a) the aggregate revenue generated by
such Subsidiary equals or exceeds an amount equal to five percent (5%) of the
consolidated aggregate revenues generated by the Company and its Subsidiaries
for the period of four consecutive fiscal quarters most recently ended or (b) the
aggregate

 

17

 

book
value of the assets of such Subsidiary equals or exceeds five percent (5%) of
the then current book value of all the assets of the Company and its
Subsidiaries.

 

“Maturity Date” means July 15, 2010.

 

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

 

“Multiemployer Plan” means a “multiemployer
plan”, within the meaning of Section 4001(a)(3) of ERISA, with
respect to which the Company, any of its Subsidiaries or any ERISA Affiliate
may have liability.

 

“Non-Consenting Lender” has the meaning
specified in Section 11.13.

 

“Note” means a Revolving Note or a Swing Line
Note, as the context may require.

 

“Obligations” means all advances to, and
debts, liabilities and obligations of, any Loan Party arising under any Loan
Document or otherwise with respect to any Loan or Letter of Credit, whether
direct or indirect (including those acquired by assumption), absolute or
contingent, due or to become due, now existing or hereafter arising and
including interest and fees that accrue after the commencement by or against any
Loan Party or any Affiliate thereof of any proceeding under any Debtor Relief
Laws naming such Person as the debtor in such proceeding, regardless of whether
such interest and fees are allowed claims in such proceeding.

 

“Organizational Documents” means the
documents (including Bylaws or limited liability company agreement, if
applicable) pursuant to which a Person that is a corporation, partnership,
trust or limited liability company is organized.

 

“Other Taxes” means all present or future
stamp or documentary taxes or any other excise or property taxes, charges or
similar levies arising from any payment made hereunder or under any other Loan
Document or from the execution, delivery or enforcement of, or otherwise with
respect to, this Agreement or any other Loan Document.

 

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

 

“Overnight Rate” means, for any day, (a) with
respect to any amount denominated in Dollars, the greater of (i) the Federal
Funds Rate and (ii) an overnight rate determined by the Administrative
Agent, the L/C Issuer, or the Swing Line Lender, as the case may be, in
accordance with banking industry rules on interbank compensation, and (b) with
respect to any amount denominated in an Alternative Currency, the rate of
interest per annum at which overnight deposits in the applicable Alternative
Currency, in an amount approximately equal to the amount with respect to which
such rate is being determined, would be offered for such day by a branch or
Affiliate of Bank of America in the applicable offshore interbank market for
such currency to major banks in such interbank market.

 

18

 

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

 

“Participating Member State” means each state
so described in any EMU Legislation.

 

“PBGC” means the Pension Benefit Guaranty
Corporation or any successor thereto.

 

“PBGC Agreements” means that certain
Settlement Agreement effective as of May 14, 1997, by and between the
Company and the PBGC, and that certain Negative Pledge Undertaking dated May 19,
1997, from the Company for the benefit of the PBGC, in each case as amended
from time to time after the Closing Date in accordance with Section 8.07(b).

 

“Pension Plan” means a pension plan as
defined in Section 3(2) of ERISA (other than a Multiemployer Plan),
with respect to which the Company, any of its Subsidiaries or any ERISA
Affiliate may have any liability.

 

“Permitted Acquisition” means any Acquisition
by the Company or any of its Subsidiaries that satisfies the following
conditions:

 

(a)                                  the Property acquired (or the Property of the
Person acquired) in such Acquisition is used or useful in a similar business;

 

(b)                                 in the case of an Acquisition of the Equity
Interest of any Person, the board of directors (or other comparable governing
body) of such other Person shall have approved the Acquisition; and

 

(c)                                  (i) no Default or Event of Default shall
exist and be continuing immediately before or immediately after giving effect
thereto, (ii) the representations and warranties made by the Loan Parties
in any Loan Document shall be true and correct in all material respects at and
as if made as of the date of such Acquisition (after giving effect thereto)
except to the extent such representations and warranties expressly relate to an
earlier date, (iii) upon giving effect to such Acquisition on a Pro Forma
Basis, the Loan Parties would be in compliance with the financial covenants set
forth in Section 8.05 as of the most recent fiscal quarter for
which the Company has delivered financial statements pursuant to Section 7.01(a) or
(b), and (iv) to the extent the aggregate consideration for such
Acquisition exceeds $50,000,000, the Company shall have delivered to the
Administrative Agent a certificate demonstrating that, upon giving effect to
such Acquisition on a Pro Forma Basis, the Loan Parties would be in compliance
with the financial covenants set forth in Section 8.05 as of the
most recent fiscal quarter for which the Company has delivered financial
statements pursuant to Section 7.01(a) or (b).

 

“Permitted Encumbrances” means the following
types of Liens:

 

(a)                                  Liens (other than any Lien imposed pursuant
to Section 401(a)(29) or 412(n) of the Internal Revenue Code or by ERISA
or any Lien in favor of the PBGC) for taxes, fees, assessments or other
governmental charges which are not delinquent or remain payable without
penalty, or to the extent that payment thereof is otherwise not, at the time,
required by Section 7.03;

 

(b)                                 Liens in respect of property or assets
imposed by law, such as carriers’, warehousemen’s, mechanics’, landlords’,
materialmen’s, repairmen’s or other similar Liens arising in the ordinary
course of business, in each case so long as such Liens do not, individually or
in the aggregate, have a Material Adverse Effect;

 

19

 

(c)                                  Liens (other than any Lien imposed pursuant
to Section 401(a)(29) or 412(n) of the Internal Revenue Code or by ERISA
or any Lien in favor of the PBGC) incurred or deposits made in the ordinary
course of business in connection with workers’ compensation, unemployment
insurance and other types of social security, or to secure the performance of
tenders, statutory obligations, surety and appeal bonds, bids, leases,
government contracts, performance and return-of-money bonds and other similar
obligations incurred in the ordinary course of business (exclusive of
obligations in respect of payments for borrowed money);

 

(d)                                 Liens incurred in the ordinary course of
business on securities to secure repurchase and reverse repurchase obligations
in respect of such securities;

 

(e)                                  Liens consisting of judgment or judicial
attachment liens in circumstances not constituting an Event of Default under Section 9.01(h);

 

(f)                                    easements, rights-of-way, restrictions, minor
defects or irregularities of title and other similar encumbrances not
interfering in any material respect with the business of the Company and its
Subsidiaries, taken as a whole;

 

(g)                                 Liens securing obligations in respect of
Capital Leases on the assets subject to such Capital Leases; provided
that such Capital Leases are otherwise permitted hereunder;

 

(h)                                 Liens arising solely by virtue of (i) any
statutory or common law provision relating to bankers’ liens, rights of set-off
or similar rights and remedies with respect to deposit accounts or other funds
maintained with a creditor depository institution or (ii) any contractual
netting arrangement with respect to deposit accounts maintained by any
Subsidiaries of the Company in the United Kingdom, to the extent such
arrangement secures the repayment of any overdraft charged against any such
account on a net credit/debit balance basis with the other such accounts; provided
that (in the case of both clause (i) and (ii) above) the applicable
deposit account is not a cash collateral account;

 

(i)                                     any interest or title of a lessor, or secured
by a lessor’s interest under, any lease permitted by this Agreement;

 

(j)                                     Liens in favor of customs and revenue
authorities arising as a matter of law to secure payment of customs duties in
connection with the importation of goods;

 

(k)                                  Liens on goods the purchase price of which is
financed by a commercial letter of credit issued for the account of the Company
or any of its Subsidiaries; provided that such Lien secures only the
obligations of the Company or such Subsidiary in respect of such commercial
letter of credit to the extent permitted under this Agreement;

 

(l)                                     leases or subleases granted to others not
interfering in any material respect with the business of the Company and its
Subsidiaries, taken as a whole; and

 

(m)                               Liens created or deemed to exist in
connection with an Accounts Receivable Facility permitted hereunder (including
any related filings of any UCC financing statements), but only to the extent
that any such Lien relates accounts receivables subject to such program, the
cash proceeds thereof, guarantees and contracts directly related to such
accounts receivable and/or rights to the goods sold thereby.

 

20

 

“Permitted Liens” means those Liens permitted
to exist pursuant to Section 8.02.

 

“Person” means and includes natural persons,
corporations, limited partnerships, general partnerships, limited liability
companies, limited liability partnerships, joint stock companies, Joint
Ventures, associations, companies, trusts, banks, trust companies, land trusts,
business trusts or other organizations, whether or not legal entities,
Governmental Authority or other entity.

 

“Plan” means an employee benefit plan (as
defined in Section 3(3) of ERISA) which Company or any of its
Subsidiaries sponsors or maintains, or to which Company or any of its
Subsidiaries makes, is making or is obligated to make contributions, or to
which Company or any of its Subsidiaries may have any liability, and includes
any Pension Plan.

 

“Platform” has the meaning specified in Section 7.01.

 

“Pro Forma Basis” means, for purposes of
calculating the financial covenants set forth in Section 8.05
(including for purposes of determining the Applicable Rate), that any Asset
Sale or Acquisition shall be deemed to have occurred as of the first day of the
most recent four fiscal quarter period preceding the date of such transaction
for which the Company has delivered financial statements pursuant to Section 7.01(a) or
(b).  In connection with the
foregoing, (a) with respect to any Asset Sale (i) income statement
and cash flow statement items (whether positive or negative) attributable to
the property disposed of shall be excluded to the extent relating to any period
occurring prior to the date of such transaction and (ii) Indebtedness
which is retired shall be excluded and deemed to have been retired as of the
first day of the applicable period and (b) with respect to any Acquisition
(i) income statement items (whether positive or negative) attributable to
the Person or property acquired shall be included to the extent relating to any
period applicable in such calculations to the extent (A) such items are
not otherwise included in such income statement items for the Company and its
Subsidiaries in accordance with GAAP or in accordance with any defined terms
set forth in Section 1.01 and (B) such items are supported by
audited or historical financial statements, or other information reasonably
satisfactory to the Administrative Agent, (ii) income statement items may
also be adjusted to reflect reasonably identifiable and supportable net cost
savings or a reasonably identifiable and supportable increase in sales volume
determined in good faith by the Company and reasonably satisfactory to the
Administrative Agent and (iii) any Indebtedness incurred or assumed by the
Company or any Subsidiary (including the Person or property acquired) in connection
with such transaction and any Indebtedness of the Person or property acquired
which is not retired in connection with such transaction (A) shall be
deemed to have been incurred as of the first day of the applicable period and (B) if
such Indebtedness has a floating or formula rate, shall have an implied rate of
interest for the applicable period for purposes of this definition determined
by utilizing the rate which is or would be in effect with respect to such
Indebtedness as at the relevant date of determination.

 

“Ratings Agencies” means S&P and Moody’s
and “Ratings Agency” means any one of them.

 

“Real Estate” has the meaning specified in Section 7.01(j).

 

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

 

“Related Parties” means, with respect to any
Person, such Person’s Affiliates and the partners, directors, officers,
employees, agents and advisors of such Person and of such Person’s Affiliates.

 

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

 

21

 

“Required Lenders” means, as of any date of
determination, Lenders having more than 50% of the Aggregate Commitments or, if
the commitment of each Lender to make Loans and the obligation of the L/C
Issuer to make L/C Credit Extensions have been terminated pursuant to Section 9.02,
Lenders holding in the aggregate more than 50% of the Total Outstandings (with
the aggregate amount of each Lender’s risk participation and funded
participation in L/C Obligations and Swing Line Loans being deemed “held” by
such Lender for purposes of this definition); provided that the
Commitment of, and the portion of the Total Outstandings held or deemed held
by, any Defaulting Lender shall be excluded for purposes of making a
determination of Required Lenders.

 

“Responsible Officer” means, with respect to
any Person, its chief executive officer, president or any vice president,
managing director, treasurer, controller or other officer of such Person having
substantially the same authority and responsibility; provided, that, with
respect to compliance with financial covenants, “Responsible Officer” means the
chief financial officer, treasurer or controller of the Company, or any other
officer of the Company having substantially the same authority and
responsibility.   Any document delivered
hereunder that is signed by a Responsible Officer of a Loan Party shall be
conclusively presumed to have been authorized by all necessary corporate,
partnership and/or other action on the part of such Loan Party, and such
Responsible Officer shall be conclusively presumed to have acted on behalf of
such Loan Party.

 

“Restricted Acquisition Subsidiary” means (i) a
Subsidiary of the Company that is or was (a) first created or acquired by
the Company or any of its Subsidiaries after the Closing Date in connection
with an Acquisition and (b) designated as a “Restricted Acquisition
Subsidiary” pursuant to a written notice delivered by the Company to the
Administrative Agent prior to the consummation of such Acquisition; provided
that the Company may, by written notice to the Administrative Agent,
redesignate any Restricted Acquisition Subsidiary as a Subsidiary that is not a
Restricted Acquisition Subsidiary so long as, after giving effect to the
aggregate principal amount of any outstanding Indebtedness of such Restricted
Acquisition Subsidiary that was originally incurred pursuant to Section 8.01(f) as
if such Indebtedness were being incurred by such Restricted Acquisition
Subsidiary as of the date of such redesignation, no Default or Event of Default
shall have occurred and be continuing or would result therefrom and (ii) any
Subsidiary of a Restricted Acquisition Subsidiary described in the foregoing
clause (i).

 

“Restricted Payment” means any dividend or
other distribution (whether in cash, securities or other property) with respect
to any capital stock or other Equity Interest of the Company or any Subsidiary (except
a dividend payable solely in shares of common stock of the Company payable
solely in shares of that class of stock to holders of that class), any payment
(whether in cash, securities or other property), including any sinking fund or
similar deposit, on account of the purchase, redemption, retirement,
acquisition, cancellation or termination of any such capital stock or other
Equity Interest, or on account of any return of capital to the Company’s
stockholders, partners or members (or the equivalent Person thereof) and any
payment made to retire, or to obtain the surrender of, any outstanding
warrants, options or other rights to acquire shares of any class of stock of
the Company now or hereafter outstanding.

 

“Revaluation Date” means (a) with
respect to any Loan denominated in an Alternative Currency, each of the
following:  (i) each date of a
Borrowing of a Eurocurrency Rate Loan denominated in such Alternative Currency,
(ii) each date of a continuation of a Eurocurrency Rate Loan denominated
in such Alternative Currency pursuant to Section 2.02, and (iii) such
additional dates as the Administrative Agent shall determine provided the Company
receives prompt notice thereof; and (b) with respect to any Letter of
Credit denominated in an Alternative Currency, each of the following:  (i) each date of issuance of a Letter of
Credit denominated in such Alternative Currency, (ii) each date of an amendment
of any such Letter of Credit having the effect of increasing the amount thereof
(solely with respect to the increased

 

22

 

amount),
(iii) each date of any payment by the L/C Issuer under any Letter of
Credit denominated in such Alternative Currency, (iv) in the case of any
Existing Letters of Credit denominated in such Alternative Currency, the
Closing Date, and (v) such additional dates as the Administrative Agent or
the L/C Issuer shall determine provided the Company receives prompt notice
thereof.

 

“Revolving Note” has the meaning specified in
Section 2.11.

 

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

 

“Same Day Funds” means (a) with respect
to disbursements and payments in Dollars, immediately available funds, and (b) with
respect to disbursements and payments in an Alternative Currency, same day or
other funds as may be determined by the Administrative Agent or the L/C Issuer,
as the case may be, to be customary in the place of disbursement or payment for
the settlement of international banking transactions in the relevant
Alternative Currency.

 

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

 

“Special Notice Currency” means at any time
an Alternative Currency, other than the currency of a country that is a member
of the Organization for Economic Cooperation and Development at such time located
in North America or Europe.

 

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

 

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

 

“Subordinated Indebtedness” means any
Indebtedness of the Company incurred from time to time and subordinated in
right of payment to the Obligations.

 

“Subsidiary” means, with respect to any
Person, any corporation, partnership, limited liability company, association,
joint venture or other business entity of which more than 50% of the total
voting power of shares of stock or other ownership interests entitled (without
regard to the occurrence of any contingency) to vote in the election of the
Person or Persons (whether directors, managers, trustees or other Persons
performing similar functions) having the power to direct or cause the direction
of the management and policies thereof is at the time owned or controlled, directly
or indirectly, by that Person or one or more of the other Subsidiaries of that
Person or a combination thereof; provided that, with respect to the
Company or any of its Subsidiaries, the term “Subsidiary” shall not include any
Unrestricted Subsidiary or any special purpose entity that is a party to any
Accounts Receivable Facility; and provided, further that the
Company shall be permitted from time to time to (i) designate any
Unrestricted Subsidiary as a “Subsidiary” of the Company hereunder by written
notice to Administrative Agent, so long as (a) no Default or Event of
Default shall have occurred and be continuing or shall be

 

23

 

caused
thereby and (b) the provisions of Section 7.07 shall have been
complied with in respect of such newly-designated Subsidiary, or (ii) designate
any Subsidiary of the Company, or any Person that, as a result of the
acquisition after the Closing Date by the Company or any of its Subsidiaries of
any equity securities of such Person, would otherwise be a Subsidiary of the
Company hereunder, to be an “Unrestricted Subsidiary” by written notice to the
Administrative Agent so long as (1) after giving effect to such
designation as an Investment in such Unrestricted Subsidiary (calculated as an
amount equal to the sum of (X) the net worth of the Subsidiary or other
Person so designated (the “Designated Person”) immediately prior to such
designation (such net worth to be calculated, in the case of a Designated
Person that is a Subsidiary of the Company, without regard to any Obligations
of such Subsidiary under the Subsidiary Guaranty) and (Y) the aggregate
principal amount of any Indebtedness owed by the Designated Person to the
Company or any of its Subsidiaries immediately prior to such designation, all
calculated, except as set forth in the parenthetical to clause (X) above, on a
consolidated basis in accordance with GAAP), the Company shall be in compliance
with the provisions of Section 8.03(g), (2) no Subsidiary is a
Subsidiary of such Unrestricted Subsidiary, (3) on or promptly after the
date of designation of such Person as such Unrestricted Subsidiary, such
Unrestricted Subsidiary shall enter into a tax sharing agreement with the
Company that provides (as determined by the Company in good faith) for an
appropriate allocation of tax liabilities and benefits, (4) no recourse
whatsoever (whether by contract or by operation of law or otherwise) may be had
to the Company or any of its Subsidiaries or any of their respective properties
or assets for any obligations of such Unrestricted Subsidiary except to the
extent that the aggregate maximum amount of such recourse constitutes (X) an
Investment permitted under Section 8.03(g) or (Y) a Guarantee
permitted hereunder and (5) no Default or Event of Default shall have
occurred and be continuing or shall be caused thereby.

 

“Subsidiary Guarantors” means each Domestic
Subsidiary that is a Material Subsidiary identified as a “Subsidiary Guarantor”
on the signature pages hereto and each other Domestic Subsidiary that is a
Material Subsidiary that joins as a Subsidiary Guarantor pursuant to Section 7.07.

 

“Swap Contract” means any and all rate swap
transactions, basis swaps, credit derivative transactions, forward rate
transactions, commodity swaps, commodity options, forward commodity contracts,
equity or equity index swaps or options, bond or bond price or bond index swaps
or options or forward bond or forward bond price or forward bond index
transactions, interest rate options, forward foreign exchange transactions, cap
transactions, floor transactions, collar transactions, currency swap
transactions, cross-currency rate swap transactions, currency options, spot
contracts, or any other similar transactions or any combination of any of the
foregoing (including any options to enter into any of the foregoing), whether
or not any such transaction is governed by or subject to any master agreement.

 

“Swing Line” means the revolving credit
facility made available by the Swing Line Lender pursuant to Section 2.04.

 

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

 

“Swing Line Lender” means Bank of America in
its capacity as provider of Swing Line Loans, or any successor swing line
lender hereunder.

 

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

 

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

 

“Swing Line Note” has the meaning specified
in Section 2.11.

 

24

 

“Swing Line Sublimit” means an amount equal
to the lesser of (a) $20,000,000 and (b) the Aggregate
Commitments.  The Swing Line Sublimit is
part of, and not in addition to, the Aggregate Commitments.

 

“Synthetic Lease Obligation” means the
monetary obligation of a Person under a so-called synthetic or off-balance
sheet lease which, upon the insolvency or bankruptcy of such Person, would be
characterized as the indebtedness of such Person (without regard to accounting
treatment).

 

“TARGET Day” means any day on which the Trans-European
Automated Real-time Gross Settlement Express Transfer (TARGET) payment system
(or, if such payment system ceases to be operative, such other payment system
(if any) determined by the Administrative Agent to be a suitable
replacement) is open for the settlement of payments in Euro.

 

“Taxes” means all present or future taxes,
levies, imposts, duties, deductions, withholdings, assessments, fees or other
charges imposed by any Governmental Authority, including any interest,
additions to tax or penalties applicable thereto.

 

“Third Party” means any Person other than the
Company or any of its Subsidiaries.

 

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

 

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

 

“UCP” means the Uniform Customs and Practice
for Documentary Credits (1993 Revision), International Chamber of Commerce
Publication No. 500, as the same may be amended from time to time.

 

“Unfunded Pension Liability” with respect to
any Pension Plan, the amount of unfunded benefit liabilities of such Pension
Plan as defined in Section 4001(a)(18) of ERISA.

 

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

 

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

 

“Unrestricted Investment” has the meaning
specified in Section 8.03(g).

 

“Unrestricted Subsidiary” means any corporate
Subsidiary of the Company (determined without giving effect to the provisos set
forth in the definition of “Subsidiary”) that is designated by the Company as
an “Unrestricted Subsidiary” as provided in the definition of “Subsidiary”.

 

“Voting Stock” means, with respect to any
Person, securities of such Person having ordinary voting power (without regard
to the occurrence of any contingency) to vote in the election of directors of
such Person.

 

“Wholly Owned Subsidiary” means a Subsidiary
of the Company, the Equity Interest of which is 100% owned and controlled,
directly or indirectly, by the Company.

 

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

 

25

 

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

 

(a)                                  The definitions of terms herein shall apply
equally to the singular and plural forms of the terms defined.  Whenever the context may require, any pronoun
shall include the corresponding masculine, feminine and neuter forms.  The words “include,” “includes”
and “including” shall be deemed to be followed by the phrase “without
limitation.”  The word “will”
shall be construed to have the same meaning and effect as the word “shall.”  Unless the context requires otherwise, (i) any
definition of or reference to any agreement, instrument or other document
(including any Organization Document) shall be construed as referring to such
agreement, instrument or other document as from time to time amended,
supplemented or otherwise modified (subject to any restrictions on such
amendments, supplements or modifications set forth herein or in any other Loan
Document), (ii) any reference herein to any Person shall be construed to
include such Person’s successors and assigns, (iii) the words “herein,”
“hereof” and “hereunder,” and words of similar import when used
in any Loan Document, shall be construed to refer to such Loan Document in its
entirety and not to any particular provision thereof, (iv) all references
in a Loan Document to Articles, Sections, Exhibits and Schedules shall be
construed to refer to Articles and Sections of, and Exhibits and Schedules
to, the Loan Document in which such references appear, (v) any reference
to any law shall include all statutory and regulatory provisions consolidating,
amending, replacing or interpreting such law and any reference to any law or
regulation shall, unless otherwise specified, refer to such law or regulation
as amended, modified or supplemented from time to time, and (vi) the words
“asset” and “property” shall be construed to have the same
meaning and effect and to refer to any and all tangible and intangible assets
and properties, including cash, securities, accounts and contract rights.

 

(b)                                 In the computation of periods of time from a
specified date to a later specified date, the word “from” means “from
and including;” the words “to” and “until” each mean “to
but excluding;” and the word “through” means “to and including.”

 

(c)                                  Section headings herein and in the other
Loan Documents are included for convenience of reference only and shall not
affect the interpretation of this Agreement or any other Loan Document.

 

1.03                        Accounting
Terms.

 

(a)                                  Generally.  All accounting terms not
specifically or completely defined herein shall be construed in conformity
with, and all financial data (including financial ratios and other financial
calculations) required to be submitted pursuant to this Agreement shall be
prepared in conformity with, GAAP, as in effect from time to time, applied
consistently throughout the periods reflected therein, except as
otherwise specifically prescribed herein.

 

(b)                                 Changes in GAAP.  If
at any time any change in GAAP would affect the computation of any financial
ratio or requirement set forth in any Loan Document, and either the Company or
the Required Lenders shall so request, the Administrative Agent, the Lenders
and the Company shall negotiate in good faith to amend such ratio or
requirement to preserve the original intent thereof in light of such change in
GAAP (subject to the approval of the Required Lenders); provided  that,
until so amended, (i) such ratio or requirement shall continue to be
computed in accordance with GAAP prior to such change therein and (ii) the
Company shall provide to the Administrative Agent and the Lenders financial
statements and other documents required under this Agreement or as reasonably
requested

 

26

 

hereunder
setting forth a reconciliation between calculations of such ratio or
requirement made before and after giving effect to such change in GAAP.

 

(c)                                  Pro Forma Basis. 
Notwithstanding the above, the parties hereto acknowledge and agree that
all calculations of financial covenants in Section 8.05 (including
for purposes of determining the Applicable Rate) shall be made on a Pro Forma
Basis.

 

1.04                        Exchange
Rates; Currency Equivalents.

 

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

 

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

 

1.05                        Additional
Alternative Currencies.

 

(a)                                  The Company may from time to time request
that Eurocurrency Rate Loans be made and/or Letters of Credit be issued in a
currency other than those specifically listed in the definition of “Alternative
Currency;” provided that such requested currency is a lawful currency
(other than Dollars) that is readily available and freely transferable and
convertible into Dollars.  In the case of
any such request with respect to the making of Eurocurrency Rate Loans, such
request shall be subject to the approval of the Administrative Agent and the
Lenders; and in the case of any such request with respect to the issuance of
Letters of Credit, such request shall be subject to the approval of the
Administrative Agent and the L/C Issuer.

 

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

 

27

 

(c)                                  Any failure by a Lender or the L/C Issuer, as
the case may be, to respond to such request within the time period specified in
the preceding sentence shall be deemed to be a refusal by such Lender or the
L/C Issuer, as the case may be, to permit Eurocurrency Rate Loans to be made or
Letters of Credit to be issued in such requested currency.  If the Administrative Agent and all the
Lenders consent to making Eurocurrency Rate Loans in such requested currency,
the Administrative Agent shall so notify the Company, and such currency shall
thereupon be deemed for all purposes to be an Alternative Currency hereunder
for purposes of any Committed Borrowings of Eurocurrency Rate Loans; and if the
Administrative Agent and the L/C Issuer consent to the issuance of Letters of
Credit in such requested currency, the Administrative Agent shall so notify the
Company, and such currency shall thereupon be deemed for all purposes to be an
Alternative Currency hereunder for purposes of any Letter of Credit issuances.  If the Administrative Agent shall fail to
obtain consent to any request for an additional currency under this Section 1.05,
the Administrative Agent shall promptly so notify the Company.

 

1.06                        Change
of Currency.

 

(a)                                  Each obligation of the Borrowers to make a
payment denominated in the national currency unit of any member state of the
European Union that adopts the Euro as its lawful currency after the Closing
Date shall be redenominated into Euro at the time of such adoption (in
accordance with the EMU Legislation). 
If, in relation to the currency of any such member state, the basis of
accrual of interest expressed in this Agreement in respect of that currency
shall be inconsistent with any convention or practice in the London interbank
market for the basis of accrual of interest in respect of the Euro, such
expressed basis shall be replaced by such convention or practice with effect
from the date on which such member state adopts the Euro as its lawful
currency; provided that if any Committed Borrowing in the currency of
such member state is outstanding immediately prior to such date, such
replacement shall take effect, with respect to such Committed Borrowing, at the
end of the then current Interest Period.

 

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

 

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

 

1.07                        Times
of Day.  Unless otherwise specified, all references herein to times of day shall
be references to Eastern time (daylight or standard, as applicable).

 

1.08                        Letter
of Credit Amounts.  Unless otherwise specified herein, the amount
of a Letter of Credit at any time shall be deemed to be the Dollar Equivalent
of the stated amount of such Letter of Credit in effect at such time.

 

ARTICLE II

THE COMMITMENTS AND CREDIT EXTENSIONS

 

2.01                        Committed
Loans.

 

Subject to the terms and conditions set forth
herein, each Lender severally agrees to make loans (each such loan, a “Committed
Loan”) to the Borrowers in Dollars or in one or more Alternative

 

28

 

Currencies
from time to time, on any Business Day during the Availability Period, in an
aggregate amount not to exceed at any time outstanding the amount of such
Lender’s Commitment; provided, however, that after giving effect
to any Committed Borrowing, (i) the Total Outstandings shall not exceed
the Aggregate Commitments, (ii) the aggregate Outstanding Amount of the
Committed Loans of any Lender, plus such Lender’s Applicable Percentage
of the Outstanding Amount of all L/C Obligations, plus such Lender’s
Applicable Percentage of the Outstanding Amount of all Swing Line Loans shall
not exceed such Lender’s Commitment and (iii) the aggregate Outstanding
Amount of all Committed Loans denominated in an Alternative Currency plus the
aggregate Outstanding Amount of all L/C Obligations denominated in an
Alternative Currency shall not exceed the Alternative Currency Sublimit.  Within the limits of each Lender’s
Commitment, and subject to the other terms and conditions hereof, the Borrowers
may borrow under this Section 2.01, prepay under Section 2.05,
and reborrow under this Section 2.01.  Committed Loans may be Base Rate Loans or
Eurocurrency Rate Loans, as further provided herein.  All Committed Loans made on the Closing Date
shall be Base Rate Loans.

 

2.02                        Borrowings,
Conversions and Continuations of Committed Loans.

 

(a)                                  Each Committed Borrowing, each conversion of
Committed Loans from one Type to the other, and each continuation of
Eurocurrency Rate Loans shall be made upon the Company’s irrevocable notice to
the Administrative Agent, which may be given by telephone.  Each such notice must be received by the
Administrative Agent not later than 11:00 a.m. (i) three Business
Days prior to the requested date of any Borrowing of, conversion to or
continuation of Eurocurrency Rate Loans denominated in Dollars or of any
conversion of Eurocurrency Rate Loans denominated in Dollars to Base Rate
Committed Loans, (ii) four Business Days (or five Business Days in the
case of a Special Notice Currency) prior to the requested date of any Borrowing
or continuation of Eurocurrency Rate Loans denominated in Alternative
Currencies, and (iii) on the requested date of any Borrowing of Base Rate
Committed Loans; provided, however, that if the Company wishes to
request Eurocurrency Rate Loans having an Interest Period other than one, two,
three or six months in duration as provided in the definition of “Interest
Period”, the applicable notice must be received by the Administrative Agent not
later than 11:00 a.m. (i) four Business Days prior to the requested
date of such Borrowing, conversion or continuation of Eurocurrency Rate Loans
denominated in Dollars, or (ii) five Business Days (or six Business Days
in the case of a Special Notice Currency) prior to the requested date of such
Borrowing, conversion or continuation of Eurocurrency Rate Loans denominated in
Alternative Currencies, whereupon the Administrative Agent shall give prompt
notice to the Lenders of such request and determine whether the requested
Interest Period is acceptable to all of them. 
Each telephonic notice by the Company pursuant to this Section 2.02(a) must
be confirmed promptly by delivery to the Administrative Agent of a written
Committed Loan Notice, appropriately completed and signed by a Responsible
Officer of the Company.  Each Borrowing
of, conversion to or continuation of Eurocurrency Rate Loans shall be in a
principal amount of $5,000,000 or a whole multiple of $1,000,000 in excess
thereof.  Except as provided in Sections 2.03(c) and
2.04(c), each Committed Borrowing of or conversion to Base Rate
Committed Loans shall be in a principal amount of $1,000,000 or a whole
multiple of $100,000 in excess thereof. 
Each Committed Loan Notice (whether telephonic or written) shall specify
(i) whether the Company is requesting a Committed Borrowing, a conversion
of Committed Loans from one Type to the other, or a continuation of
Eurocurrency Rate Loans, (ii) the requested date of the Borrowing,
conversion or continuation, as the case may be (which shall be a Business Day),
(iii) the principal amount of Committed Loans to be borrowed, converted or
continued, (iv) the Type of Committed Loans to be borrowed or to which
existing Committed Loans are to be converted, (v) if applicable, the
duration of the Interest Period with respect thereto, (vi) the currency of
the Committed Loans to be borrowed, and (vii) if applicable, the
Designated Borrower.  If the Company
fails to specify a currency in a Committed Loan Notice requesting a Borrowing,
then the Committed Loans so requested shall be made in Dollars.  If the Company fails to specify a Type of
Committed Loan in a Committed Loan Notice or if the Company fails to give a
timely notice requesting a conversion or continuation, then the applicable
Committed Loans shall be made as, or

 

29

 

converted
to, Base Rate Loans; provided, however, that in the case of a
failure to timely request a continuation of Committed Loans denominated in an
Alternative Currency, such Loans shall be continued as Eurocurrency Rate Loans
in their original currency with an Interest Period of one month.  Any automatic conversion to Base Rate Loans
shall be effective as of the last day of the Interest Period then in effect
with respect to the applicable Eurocurrency Rate Loans.  If the Company requests a Borrowing of,
conversion to, or continuation of Eurocurrency Rate Loans in any such Committed
Loan Notice, but fails to specify an Interest Period, it will be deemed to have
specified an Interest Period of one month. 
No Committed Loan may be converted into or continued as a Committed Loan
denominated in a different currency, but instead must be prepaid in the
original currency of such Committed Loan and reborrowed in the other currency.

 

(b)                                 Following receipt of a Committed Loan Notice,
the Administrative Agent shall promptly notify each Lender of the amount (and
currency) of its Applicable Percentage of the applicable Committed Loans, and
if no timely notice of a conversion or continuation is provided by the Company,
the Administrative Agent shall notify each Lender of the details of any
automatic conversion to Base Rate Loans or continuation of Committed Loans
denominated in a currency other than Dollars, in each case as described in the preceding
subsection.  In the case of a Committed
Borrowing, each Lender shall make the amount of its Committed Loan available to
the Administrative Agent in Same Day Funds at the Administrative Agent’s Office
for the applicable currency not later than 1:00 p.m., in the case of any
Committed Loan denominated in Dollars, and not later than the Applicable Time
specified by the Administrative Agent in the case of any Committed Loan in an
Alternative Currency, in each case on the Business Day specified in the applicable
Committed Loan Notice.  Upon satisfaction
of the applicable conditions set forth in Section 5.02 (and, if
such Borrowing is the initial Credit Extension, Section 5.01), the
Administrative Agent shall make all funds so received available to the Company
or the other applicable Borrower in like funds as received by the
Administrative Agent either by (i) crediting the account of such Borrower
on the books of Bank of America with the amount of such funds or (ii) wire
transfer of such funds, in each case in accordance with instructions provided
to (and reasonably acceptable to) the Administrative Agent by the Company; provided,
however, that if, on the date the Committed Loan Notice with respect to
such Borrowing denominated in Dollars is given by the Company, there are L/C
Borrowings outstanding, then the proceeds of such Borrowing, first,
shall be applied to the payment in full of any such L/C Borrowings, and, second,
shall be made available to the applicable Borrower as provided above.

 

(c)                                  Except as otherwise provided herein, a
Eurocurrency Rate Loan may be continued or converted only on the last day of an
Interest Period for such Eurocurrency Rate Loan.  During the existence of a Default or an Event
of Default, if the Required Lenders so elect, (i) no Loans may be converted
to or continued as Eurocurrency Rate Loans (whether in Dollars or any
Alternative Currency) and (ii) any or all of the then outstanding
Eurocurrency Rate Loans denominated in an Alternative Currency shall be
prepaid, or redenominated into Dollars in the amount of the Dollar Equivalent
thereof, on the last day of the then current Interest Period with respect
thereto.

 

(d)                                 The Administrative Agent shall promptly
notify the Company and the Lenders of the interest rate applicable to any Interest
Period for Eurocurrency Rate Loans upon determination of such interest
rate.  At any time that Base Rate Loans
are outstanding, the Administrative Agent shall notify the Company and the
Lenders of any change in Bank of America’s prime rate used in determining the
Base Rate promptly following the public announcement of such change.

 

(e)                                  After giving effect to all Committed
Borrowings, all conversions of Committed Loans from one Type to the other, and
all continuations of Committed Loans as the same Type, there shall not be more
than fifteen Interest Periods in effect with
respect to Committed Loans.

 

30

 

(f)                                    The Company may at any time and from time to
time, upon prior written notice by the Company to the Administrative Agent,
increase the Aggregate Commitments (but not the Letter of Credit Sublimit and
Alternative Currency Sublimit) by up to $250,000,000 with additional
Commitments from any existing Lender or new Commitments from any other Person
selected by the Company and approved by the Administrative Agent; provided
that:

 

(i)                                     any such increase shall be in a minimum
principal amount of $10,000,000 and in integral multiples of $5,000,000 in
excess thereof and the Company may make a maximum of three requests;

 

(ii)                                  no Default or Event of Default shall exist
and be continuing at the time of any such increase;

 

(iii)                               no existing Lender shall be under any
obligation to increase its Commitment and any such decision whether to increase
its Commitment shall be in such Lender’s sole and absolute discretion;

 

(iv)                              any new Lender shall join this Agreement by
executing such joinder documents required by the Administrative Agent; and

 

(v)                                 as a condition precedent to such increase,
the Company shall deliver to the Administrative Agent a certificate dated as of
the date of such increase signed by a Responsible Officer of each Loan Party (A) certifying
and attaching the resolutions adopted by such Loan Party approving or
consenting to such increase or the resultant increased amount, (B) in the
case of any Borrower, certifying that, before and after giving effect to such
increase, (1) the representations and warranties contained in Article VI
and the other Loan Documents are true and correct in all material respects on and
as of the date of such increase, except to the extent that such representations
and warranties specifically refer to an earlier date, in which case they are
true and correct in all material respects as of such earlier date, and except
that for purposes of this Section 2.02(f), the representations and
warranties contained in subsections (a) and (b) of Section 6.03
shall be deemed to refer to the most recent statements furnished pursuant to
clauses (a) and (b), respectively, of Section 7.01, and (2) no
Default or Event of Default exists and (C) certifying that notice, if any,
required to be given to the PBCG under the PBGC Agreements has been properly
and timely given.

 

The Company shall prepay any Committed Loans owing
by it and outstanding on the date of any such increase (and pay any additional
amounts required pursuant to Section 3.05) to the extent necessary
to keep the outstanding Committed Loans ratable with any revised Commitments
arising from any nonratable increase in the Commitments under this Section.  In connection with any such increase in the
Aggregate Commitments, Schedule 2.01 shall be revised by the
Administrative Agent to reflect the new Commitments and distributed to the Company
and the Lenders.

 

2.03                        Letters
of Credit.

 

(a)                                  The Letter of Credit Commitment.

 

(i)                                     Subject to the terms and conditions set forth
herein, (A) the L/C Issuer agrees, in reliance upon the agreements of the
Lenders set forth in this Section 2.03, (1) from time to time
on any Business Day during the period from the Closing Date until the Letter of
Credit Expiration Date, to issue Letters of Credit denominated in Dollars or in
one or more Alternative Currencies for the account of the Company, and to amend or extend Letters of Credit previously issued by it,

 

31

 

in accordance with subsection (b) below,
and (2) to honor drawings under the Letters of Credit; and (B) the
Lenders severally agree to participate in Letters of Credit issued for the
account of the Company and any drawings thereunder; provided that after
giving effect to any L/C Credit Extension with respect to any Letter of Credit,
(v) the Total Outstandings shall not exceed the Aggregate Commitments,
(x) the aggregate Outstanding Amount of the Committed Loans of any Lender,
plus such Lender’s Applicable Percentage of the Outstanding Amount of
all L/C Obligations, plus such Lender’s Applicable Percentage of the
Outstanding Amount of all Swing Line Loans shall not exceed such Lender’s
Commitment, (y) the Outstanding Amount of the L/C Obligations shall not
exceed the Letter of Credit Sublimit and (z) the aggregate Outstanding Amount
of the L/C Obligations denominated in an Alternative Currency plus the
aggregate Outstanding Amount of Committed Loans denominated in an Alternative
Currency shall not exceed the Alternative Currency Sublimit.  Each request by the Company for the issuance
or amendment of a Letter of Credit shall be deemed to be a representation by
the Company that the L/C Credit Extension so requested complies with the
conditions set forth in the proviso to the preceding sentence.  Within the foregoing limits, and subject to
the terms and conditions hereof, the Company’s ability to obtain Letters of
Credit shall be fully revolving, and accordingly the Company may, during the
foregoing period, obtain Letters of Credit to replace Letters of Credit that
have expired or that have been drawn upon and reimbursed.  All Existing Letters of Credit shall be
deemed to have been issued pursuant hereto, and from and after the Closing Date
shall be subject to and governed by the terms and conditions hereof.

 

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

 

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

 

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

 

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

 

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

 

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

 

(C)                                except as otherwise agreed by the
Administrative Agent and the L/C Issuer or as identified on Schedule 2.03,
such Letter of Credit is in an initial stated amount less than $50,000, in the
case of a commercial Letter of Credit, or $100,000, in the case of a standby
Letter of Credit; or

 

32

 

(D)                               except as otherwise agreed by the
Administrative Agent and the L/C Issuer, such Letter of Credit is to be
denominated in a currency other than Dollars or an Alternative Currency.

 

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

 

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

 

(b)                                 Procedures for Issuance and Amendment of
Letters of Credit; Auto-Extension Letters of Credit.

 

(i)                                     Each Letter of Credit shall be issued or
amended, as the case may be, upon the request of the Company delivered to the
L/C Issuer (with a copy to the Administrative Agent) in the form of a Letter of
Credit Application, appropriately completed and signed by a Responsible Officer
of the Company.  Such Letter of Credit
Application must be received by the L/C Issuer and the Administrative Agent not
later than 11:00 a.m.  at least two
Business Days (or such later date and time as the Administrative Agent and the
L/C Issuer may agree in a particular instance in their sole discretion) prior
to the proposed issuance date or date of amendment, as the case may be.  In the case of a request for an initial
issuance of a Letter of Credit, such Letter of Credit Application shall specify
in form and detail reasonably satisfactory to the L/C Issuer: (A) the
proposed issuance date of the requested Letter of Credit (which shall be a
Business Day); (B) the amount and requested currency thereof and in the
absence of specification of currency shall be deemed a request for a Letter of
Credit denominated in Dollars; (C) whether such Letter of Credit shall be
a commercial Letter of Credit or a standby Letter of Credit, (D) the
expiry date thereof; (E) the name and address of the beneficiary thereof; (F) the
documents to be presented by such beneficiary in case of any drawing
thereunder; (G) the full text of any certificate to be presented by such
beneficiary in case of any drawing thereunder; and (H) such other matters
as the L/C Issuer may reasonably require. 
In the case of a request for an amendment of any outstanding Letter of
Credit, such Letter of Credit Application shall specify in form and detail
reasonably satisfactory to the L/C Issuer (A) the Letter of Credit to be
amended; (B) the proposed date of amendment thereof (which shall be a
Business Day); (C) the nature of the proposed amendment; and (D) such
other matters as the L/C Issuer may reasonably require.  Additionally, the Company shall furnish to
the L/C Issuer and the Administrative Agent such other documents and information
pertaining to such requested Letter of Credit issuance or amendment, including
any Issuer Documents, as the L/C Issuer or the Administrative Agent may reasonably
require.

 

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

 

33

 

received written notice from any Lender, the
Administrative Agent or any Loan Party, at least one Business Day prior to the
requested date of issuance or amendment of the applicable Letter of Credit,
that one or more applicable conditions contained in Article V shall
not then be satisfied, then, subject to the terms and conditions hereof, the
L/C Issuer shall, on the requested date, issue a Letter of Credit for the account
of the Company or enter into the applicable amendment, as the case may be, in
each case in accordance with the L/C Issuer’s usual and customary business
practices.  Immediately upon the issuance
of each Letter of Credit, each Lender shall be deemed to, and hereby
irrevocably and unconditionally agrees to, purchase from the L/C Issuer a risk
participation in such Letter of Credit in an amount equal to the product of
such Lender’s Applicable Percentage times the amount of such Letter of
Credit.

 

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

 

(iv)                              Promptly after its delivery of any Letter of
Credit or any amendment to a Letter of Credit to an advising bank with respect
thereto or to the beneficiary thereof, the L/C Issuer will also deliver to the Company
and the Administrative Agent a true and complete copy of such Letter of Credit
or amendment.

 

(c)                                  Drawings and Reimbursements; Funding of
Participations.

 

(i)                                     Upon receipt from the beneficiary of any
Letter of Credit of any notice of a drawing under such Letter of Credit, the
L/C Issuer shall notify the Company and the Administrative Agent thereof.  In the case of a Letter of Credit denominated
in an Alternative Currency, the Company shall reimburse the L/C Issuer in such
Alternative Currency, unless the Company shall have notified the L/C Issuer
promptly following receipt of the notice of drawing that the Company will
reimburse the L/C Issuer in Dollars.  In
the case of any such reimbursement in Dollars of a drawing under a Letter of
Credit denominated in an Alternative Currency, the L/C Issuer shall notify the
Company of the Dollar Equivalent of the amount of the drawing promptly
following the determination thereof.  Not
later than 3:00 p.m. on the date of any payment by the L/C Issuer under a
Letter of Credit to be reimbursed in Dollars if the L/C Issuer delivers notice
of such payment by 11:00 a.m. on such date (or, if notice of such payment
by the L/C Issuer is made after 11:00 a.m., not later than 10:00 a.m.
on the succeeding Business

 

34

 

Day), or the Applicable Time on the date of any
payment by the L/C Issuer (or the next succeeding Business Day, as the case may
be) under a Letter of Credit to be reimbursed in an Alternative Currency (each
such date, an “Honor Date”), the Company shall reimburse the L/C Issuer
through the Administrative Agent in an amount equal to the amount of such
drawing and in the applicable currency. 
If the Company fails to so reimburse the L/C Issuer by such time, the
Administrative Agent shall promptly notify each Lender of the Honor Date, the
amount of the unreimbursed drawing (expressed in Dollars in the amount of the
Dollar Equivalent thereof in the case of a Letter of Credit denominated in an
Alternative Currency) (the “Unreimbursed Amount”), and the amount of
such Lender’s Applicable Percentage thereof. 
In such event, the Company shall be deemed to have requested a Committed
Borrowing of Base Rate Loans to be disbursed on the Honor Date in an amount
equal to the Unreimbursed Amount, without regard to the minimum and multiples
specified in Section 2.02 for the principal amount of Base Rate
Loans, but subject to the amount of the unutilized portion of the Aggregate
Commitments and the conditions set forth in Section 5.02 (other
than the delivery of a Committed Loan Notice). 
Any notice given by the L/C Issuer or the Administrative Agent pursuant
to this Section 2.03(c)(i) may be given by telephone if
immediately confirmed in writing; provided that the lack of such an
immediate confirmation shall not affect the conclusiveness or binding effect of
such notice.

 

(ii)                                  Each Lender shall upon any notice pursuant to
Section 2.03(c)(i) make funds available to the Administrative
Agent for the account of the L/C Issuer, in Dollars, at the Administrative
Agent’s Office for Dollar-denominated payments in an amount equal to its
Applicable Percentage of the Unreimbursed Amount not later than 1:00 p.m.
on the Business Day specified in such notice by the Administrative Agent,
whereupon, subject to the provisions of Section 2.03(c)(iii), each
Lender that so makes funds available shall be deemed to have made a Base Rate
Committed Loan to the Company in such amount. 
The Administrative Agent shall remit the funds so received to the L/C
Issuer in Dollars.

 

(iii)                               With respect to any Unreimbursed Amount that
is not fully refinanced by a Committed Borrowing of Base Rate Loans because the
conditions set forth in Section 5.02 cannot be satisfied or for any
other reason, the Company shall be deemed to have incurred from the L/C Issuer
an L/C Borrowing in the amount of the Unreimbursed Amount that is not so
refinanced, which L/C Borrowing shall be due and payable on demand (together
with interest) and shall bear interest at the Default Rate.  In such event, each Lender’s payment to the
Administrative Agent for the account of the L/C Issuer pursuant to Section 2.03(c)(ii) shall
be deemed payment in respect of its participation in such L/C Borrowing and
shall constitute an L/C Advance from such Lender in satisfaction of its
participation obligation under this Section 2.03.

 

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

 

(v)                                 Each Lender’s obligation to make Committed
Loans or L/C Advances to reimburse the L/C Issuer for amounts drawn under
Letters of Credit, as contemplated by this Section 2.03(c), shall
be absolute and unconditional and shall not be affected by any circumstance,
including (A) any setoff, counterclaim, recoupment, defense or other right
which such Lender may have against the L/C Issuer, the Company, any Subsidiary
or any other Person for any reason whatsoever; (B) the occurrence or
continuance of a Default or Event of Default, or (C) any other occurrence,
event or condition, whether or not similar to any of the foregoing; provided,
however, that each Lender’s obligation to make Committed Loans pursuant
to this Section 2.03(c) is subject to the conditions set forth
in Section 5.02 (other than delivery by the

 

35

 

Company of a Committed Loan Notice).  No such making of an L/C Advance shall
relieve or otherwise impair the obligation of the Company to reimburse the L/C
Issuer for the amount of any payment made by the L/C Issuer under any Letter of
Credit, together with interest as provided herein.

 

(vi)                              If any Lender fails to make available to the
Administrative Agent for the account of the L/C Issuer any amount required to
be paid by such Lender pursuant to the foregoing provisions of this Section 2.03(c) by
the time specified in Section 2.03(c)(ii), the L/C Issuer shall be
entitled to recover from such Lender (acting through the Administrative Agent),
on demand, such amount with interest thereon for the period from the date such
payment is required to the date on which such payment is immediately available
to the L/C Issuer at a rate per annum equal to the applicable Overnight Rate
from time to time in effect.  A
certificate of the L/C Issuer submitted to any Lender (through the
Administrative Agent) with respect to any amounts owing under this clause (vi) shall
be conclusive absent manifest error.

 

(d)                                 Repayment of Participations.

 

(i)                                     At any time after the L/C Issuer has made a
payment under any Letter of Credit and has received from any Lender such Lender’s
L/C Advance in respect of such payment in accordance with Section 2.03(c),
if the Administrative Agent receives for the account of the L/C Issuer any
payment in respect of the related Unreimbursed Amount or interest thereon
(whether directly from the Company or otherwise, including proceeds of Cash
Collateral applied thereto by the Administrative Agent), the Administrative
Agent will distribute to such Lender its Applicable Percentage thereof
(appropriately adjusted, in the case of interest payments, to reflect the
period of time during which such Lender’s L/C Advance was outstanding) in
Dollars and in the same funds as those received by the Administrative Agent.

 

(ii)                                  If any payment received by the Administrative
Agent for the account of the L/C Issuer pursuant to Section 2.03(c)(i) is
required to be returned under any of the circumstances described in Section 11.05
(including pursuant to any settlement entered into by the L/C Issuer in its
discretion), each Lender shall pay to the Administrative Agent for the account
of the L/C Issuer its Applicable Percentage thereof on demand of the
Administrative Agent, plus interest thereon from the date of such demand to the
date such amount is returned by such Lender, at a rate per annum equal to the
applicable Overnight Rate from time to time in effect.  The obligations of the Lenders under this
clause shall survive the payment in full of the Obligations and the termination
of this Agreement.

 

(e)                                  Obligations Absolute.  The
obligation of the Company to reimburse the L/C Issuer for each drawing under
each Letter of Credit and to repay each L/C Borrowing shall be absolute,
unconditional and irrevocable, and shall be paid strictly in accordance with
the terms of this Agreement under all circumstances, including the following:

 

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

 

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

 

36

 

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

 

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

 

(v)                                 any adverse change in the relevant exchange
rates or in the availability of the relevant Alternative Currency to the
Company or any Subsidiary or in the relevant currency markets generally; or

 

(vi)                              any other circumstance or happening
whatsoever, whether or not similar to any of the foregoing, including any other
circumstance that might otherwise constitute a defense available to, or a
discharge of, the Company or any Subsidiary.

 

The Company shall promptly examine a copy of each
Letter of Credit and each amendment thereto that is delivered to it and, in the
event of any claim of noncompliance with the Company’s instructions or other
irregularity, the Company will immediately notify the L/C Issuer.

 

(f)                                    Role of L/C Issuer.  Each
Lender and the Company agree that, in paying any drawing under a Letter of
Credit, the L/C Issuer shall not have any responsibility to obtain any document
(other than any sight draft, certificates and documents expressly required by
the Letter of Credit) or to ascertain or inquire as to the validity or accuracy
of any such document or the authority of the Person executing or delivering any
such document.  None of the L/C Issuer,
the Administrative Agent, any of their respective Related Parties nor any
correspondent, participant or assignee of the L/C Issuer shall be liable to any
Lender for (i) any action taken or omitted in connection herewith at the
request or with the approval of the Lenders or the Required Lenders, as
applicable; (ii) any action taken or omitted in the absence of gross
negligence or willful misconduct; or (iii) the due execution,
effectiveness, validity or enforceability of any document or instrument related
to any Letter of Credit or Issuer Document. 
The Company hereby assumes all risks of the acts or omissions of any
beneficiary or transferee with respect to its use of any Letter of Credit; provided,
however, that this assumption is not intended to, and shall not,
preclude the Company’s pursuing such rights and remedies as it may have against
the beneficiary or transferee at law or under any other agreement.  None of the L/C Issuer, the Administrative
Agent, any of their respective Related Parties nor any correspondent,
participant or assignee of the L/C Issuer shall be liable or responsible for
any of the matters described in clauses (i) through (vi) of Section 2.03(e);
provided, however, that anything in such clauses to the contrary
notwithstanding, the Company may have a claim against the L/C Issuer, and the
L/C Issuer may be liable to the Company, to the extent, but only to the extent,
of any direct, as opposed to consequential or exemplary, damages suffered by
the Company which were caused by the L/C Issuer’s willful misconduct or gross
negligence or the L/C Issuer’s willful failure to pay under any Letter of
Credit after the presentation to it by the beneficiary of a sight draft and
certificate(s) strictly complying with the terms and conditions of a Letter of
Credit.  In furtherance and not in
limitation of the foregoing, the L/C Issuer may accept documents that appear on
their face to be in order, without responsibility for further investigation and
the L/C Issuer shall not be responsible for the validity or sufficiency of any
instrument transferring or assigning or purporting to transfer or assign a

 

37

 

Letter
of Credit or the rights or benefits thereunder or proceeds thereof, in whole or
in part, which may prove to be invalid or ineffective for any reason.

 

(g)                                 Cash Collateral.  (i) 
Upon the request of the Administrative Agent, (A) if the L/C Issuer has
honored any full or partial drawing request under any Letter of Credit and such
drawing has resulted in an L/C Borrowing, or (B) if, as of the Letter of
Credit Expiration Date, any L/C Obligation for any reason remains outstanding,
the Company shall, in each case, within two Business Days of the occurrence of
any event in (A) or (B) above, Cash Collateralize the then
Outstanding Amount of all L/C Obligations.

 

(ii)                                  In addition, if the Administrative Agent
notifies the Company at any time that the Outstanding Amount of all L/C
Obligations at such time exceeds 105% of the Letter
of Credit Sublimit then in effect, then, within two Business Days after receipt
of such notice, the Company shall Cash Collateralize the L/C Obligations in an
amount equal to the amount by which the Outstanding Amount of all L/C
Obligations exceeds the Letter of Credit Sublimit.

 

(iii)                               The Administrative Agent may, at any time and
from time to time after the initial deposit of Cash Collateral, request that
additional Cash Collateral be provided in order to protect against the results
of exchange rate fluctuations.

 

(iv)                              Sections 2.05 and 9.02(c) set forth certain
additional requirements to deliver Cash Collateral hereunder.  For purposes of this Section 2.03,
Section 2.05 and Section 9.02(c),
“Cash Collateralize” means to pledge and deposit with or deliver to the
Administrative Agent, for the benefit of the L/C Issuer and the Lenders, as
collateral for the L/C Obligations, cash or deposit account balances pursuant
to documentation in form and substance reasonably satisfactory to the
Administrative Agent and the L/C Issuer (which documents are hereby consented
to by the Lenders).  Derivatives of such
term have corresponding meanings.  The
Company hereby grants to the Administrative Agent, for the benefit of the L/C
Issuer and the Lenders, a security interest in all such cash, deposit accounts
and all balances therein and all proceeds of the foregoing.  Cash Collateral shall be maintained in
blocked deposit accounts at Bank of America.

 

(v)                                 Following the expiration, termination or
cancellation of any Letter of Credit that has been Cash Collateralized and the
satisfaction of all L/C Obligations related thereto, the Administrative Agent shall
return any Cash Collateral securing such Letter of Credit and related L/C
Obligations to the Company within five (5) Business Days.

 

(h)                                 Applicability of ISP and UCP.  Unless otherwise expressly agreed
by the L/C Issuer and the Company when a Letter of Credit is issued (including
any such agreement applicable to an Existing Letter of Credit), (i) the rules of
the ISP shall apply to each standby Letter of Credit, and (ii) the rules of
the Uniform Customs and Practice for Documentary Credits, as most recently
published by the International Chamber of Commerce at the time of issuance
shall apply to each commercial Letter of Credit and, in either case, to the
extent not inconsistent with and if requested by any Borrower in the applicable
Letter of Credit Application, the laws of the State of New York.

 

(i)                                     Letter of Credit Fees.  The
Company shall pay to the Administrative Agent for the account of each Lender in
accordance with its Applicable Percentage, in Dollars, a Letter of Credit fee
(the “Letter of Credit Fee”) for each
standby and each commercial Letter of Credit equal to the Applicable Rate times
the Dollar Equivalent of the daily amount available to be drawn under such
Letter of Credit.  For purposes of
computing the daily amount available to be drawn under any Letter of Credit,
the amount of such Letter of Credit shall be determined in accordance with Section 1.08.  Letter of Credit Fees shall be (i) computed
on a quarterly basis in arrears and (ii) due and payable on the last
Business

 

38

 

Day
of each March, June, September and December, commencing with the first
such date to occur after the issuance of such Letter of Credit, on the Letter
of Credit Expiration Date and thereafter on demand.  If there is any change in the Applicable Rate
during any quarter, the daily amount available to be drawn under each Letter of
Credit shall be computed and multiplied by the Applicable Rate separately for
each period during such quarter that such Applicable Rate was in effect.

 

(j)                                     Fronting Fee and Documentary and Processing
Charges Payable to L/C Issuer.  The Company shall pay directly to the L/C
Issuer for its own account, in Dollars, a fronting fee (i) with respect to
each commercial Letter of Credit, at the rate per annum specified in the Fee
Letter computed on the Dollar Equivalent of the amount of such Letter of
Credit, and payable upon the issuance thereof, (ii) with respect to any
amendment of a commercial Letter of Credit increasing the amount of such Letter
of Credit, at a rate separately agreed between the Company and the L/C Issuer,
computed on the Dollar Equivalent of the amount of such increase, and payable
upon the effectiveness of such amendment, and (iii) with respect to each
standby Letter of Credit, at the rate per annum specified in the Fee Letter computed
on the Dollar Equivalent of the daily amount available to be drawn under such
Letter of Credit on a quarterly basis in arrears.  Such fronting fee shall be due and payable on
the last Business Day of each March, June, September and December in
respect of the most recently-ended quarterly period (or portion thereof, in the
case of the first payment), commencing with the first such date to occur after
the issuance of such Letter of Credit, on the Letter of Credit Expiration Date
and thereafter on demand.  For purposes
of computing the daily amount available to be drawn under any Letter of Credit,
the amount of such Letter of Credit shall be determined in accordance with Section 1.08.  In addition, the Company shall pay directly
to the L/C Issuer for its own account, in Dollars, the customary issuance,
presentation, amendment and other processing fees, and other standard costs and
charges, of the L/C Issuer relating to letters of credit as from time to time
in effect.  Such customary fees and
standard costs and charges are due and payable on demand and are nonrefundable.

 

(k)                                  Conflict with Issuer Documents.  In
the event of any conflict between the terms hereof and the terms of any Issuer
Document, the terms hereof shall control.

 

(l)                                     Letters of Credit Issued for Subsidiaries. 
Notwithstanding that a Letter of Credit issued or outstanding hereunder
is in support of any obligations of, or is for the account of, a Subsidiary,
the Company shall be obligated to reimburse the L/C Issuer hereunder for any
and all drawings under such Letter of Credit. 
The Company hereby acknowledges that the issuance of Letters of Credit
for the account of Subsidiaries inures to the benefit of the Company, and that
the Company’s business derives substantial benefits from the businesses of such
Subsidiaries.

 

2.04                        Swing
Line Loans.

 

(a)                                  The Swing Line. 
Subject to the terms and conditions set forth herein, the Swing Line
Lender agrees, in reliance upon the agreements of the other Lenders set forth
in this Section 2.04, to make loans in Dollars (each such loan, a “Swing
Line Loan”) to the Company from time to time on any Business Day during the
Availability Period in an aggregate amount not to exceed at any time
outstanding the amount of the Swing Line Sublimit, notwithstanding the fact
that such Swing Line Loans, when aggregated with the Applicable Percentage of
the Outstanding Amount of Committed Loans and L/C Obligations of the Lender
acting as Swing Line Lender, may exceed the amount of such Lender’s Commitment;
provided, however, that after giving effect to any Swing Line
Loan, (i) the Total Outstandings shall not exceed the Aggregate
Commitments, and (ii) the aggregate Outstanding Amount of the Committed
Loans of any Lender, plus such Lender’s Applicable Percentage of the
Outstanding Amount of all L/C Obligations, plus such Lender’s Applicable
Percentage of the Outstanding Amount of all Swing Line Loans shall not exceed
such Lender’s Commitment, and provided, further, that the Company
shall not use the proceeds of any Swing Line Loan to refinance any outstanding
Swing Line

 

39

 

Loan.  Within the foregoing limits, and subject to
the other terms and conditions hereof, the Company may borrow under this Section 2.04,
prepay under Section 2.05, and reborrow under this Section 2.04.  Each Swing Line Loan shall be a Base Rate
Loan.  Immediately upon the making of a
Swing Line Loan, each Lender shall be deemed to, and hereby irrevocably and
unconditionally agrees to, purchase from the Swing Line Lender a risk
participation in such Swing Line Loan in an amount equal to the product of such
Lender’s Applicable Percentage times the amount of such Swing Line Loan.

 

(b)                                 Borrowing Procedures.  Each
Swing Line Borrowing shall be made upon the Company’s irrevocable notice to the
Swing Line Lender and the Administrative Agent, which may be given by
telephone.  Each such notice must be
received by the Swing Line Lender and the Administrative Agent not later than
1:00 p.m.  on the requested
borrowing date, and shall specify (i) the amount to be borrowed, which
shall be a minimum of $100,000, and (ii) the requested borrowing date,
which shall be a Business Day.  Each such
telephonic notice must be confirmed promptly by delivery to the Swing Line
Lender and the Administrative Agent of a written Swing Line Loan Notice,
appropriately completed and signed by a Responsible Officer of the
Company.  Promptly after receipt by the
Swing Line Lender of any telephonic Swing Line Loan Notice, the Swing Line
Lender will confirm with the Administrative Agent (by telephone or in writing)
that the Administrative Agent has also received such Swing Line Loan Notice
and, if not, the Swing Line Lender will notify the Administrative Agent (by
telephone or in writing) of the contents thereof.  Unless the Swing Line Lender has received
notice (by telephone or in writing) from the Administrative Agent (including at
the request of any Lender) prior to 2:00 p.m. on the date of the proposed
Swing Line Borrowing (A) directing the Swing Line Lender not to make such
Swing Line Loan as a result of the limitations set forth in the proviso to the
first sentence of Section 2.04(a), or (B) that one or more of
the applicable conditions specified in Section 5.02 is not then
satisfied, then, subject to the terms and conditions hereof, the Swing Line
Lender will, not later than 3:00 p.m. on the borrowing date specified in
such Swing Line Loan Notice, make the amount of its Swing Line Loan available
to the Company at its office by crediting the account of the Company on the
books of the Swing Line Lender in Same Day Funds.

 

(c)                                  Refinancing of Swing Line Loans.

 

(i)                                     The Company agrees to repay all Swing Line
Loans within four Business Days of demand therefor by the Swing Line
Lender.  Any such demand by the Swing
Line Lender shall be in its sole and absolute discretion.  If the Company fails to repay the Swing Line
Loans within four Business Days of demand therefor, the Swing Line Lender shall
request, on behalf of the Company (which hereby irrevocably authorizes the
Swing Line Lender to so request on its behalf), that each Lender make a Base
Rate Committed Loan in an amount equal to such Lender’s Applicable Percentage
of the amount of Swing Line Loans then outstanding.  Such request shall be made in writing (which
written request shall be deemed to be a Committed Loan Notice for purposes
hereof) and in accordance with the requirements of Section 2.02,
without regard to the minimum and multiples specified therein for the principal
amount of Base Rate Loans, but subject to the unutilized portion of the
Aggregate Commitments and the conditions set forth in Section 5.02.  The Swing Line Lender shall furnish the
Company with a copy of the applicable Committed Loan Notice concurrently with delivering
such notice to the Administrative Agent. 
Each Lender shall make an amount equal to its Applicable Percentage of
the amount specified in such Committed Loan Notice available to the
Administrative Agent in Same Day Funds for the account of the Swing Line Lender
at the Administrative Agent’s Office for Dollar-denominated payments not later
than 1:00 p.m. on the day specified in such Committed Loan Notice,
whereupon, subject to Section 2.04(c)(ii), each Lender that so
makes funds available shall be deemed to have made a Base Rate Committed Loan
to the Company in such amount.  The
Administrative Agent shall remit the funds so received to the Swing Line
Lender.

 

40

 

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

 

(iii)                               If any Lender fails to make available to the
Administrative Agent for the account of the Swing Line Lender any amount
required to be paid by such Lender pursuant to the foregoing provisions of this
Section 2.04(c) by the time specified in Section 2.04(c)(i),
the Swing Line Lender shall be entitled to recover from such Lender (acting
through the Administrative Agent), on demand, such amount with interest thereon
for the period from the date such payment is required to the date on which such
payment is immediately available to the Swing Line Lender at a rate per annum
equal to the applicable Overnight Rate from time to time in effect.  A certificate of the Swing Line Lender
submitted to any Lender (through the Administrative Agent) with respect to any
amounts owing under this clause (iii) shall be conclusive absent
manifest error.

 

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

 

(d)                                 Repayment of Participations.

 

(i)                                     At any time after any Lender has purchased
and funded a risk participation in a Swing Line Loan, if the Swing Line Lender
receives any payment on account of such Swing Line Loan, the Swing Line Lender
will distribute to such Lender its Applicable Percentage of such payment
(appropriately adjusted, in the case of interest payments, to reflect the
period of time during which such Lender’s risk participation was funded) in the
same funds as those received by the Swing Line Lender.

 

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

 

(e)                                  Interest for Account of Swing Line Lender.  The
Swing Line Lender shall be responsible for invoicing the Company for interest
on the Swing Line Loans.  Until a Lender
funds its Base Rate

 

41

 

Committed
Loan or risk participation pursuant to this Section 2.04 to
refinance such Lender’s Applicable Percentage of any Swing Line Loan, interest
in respect of such Applicable Percentage shall be solely for the account of the
Swing Line Lender.

 

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

 

2.05                        Prepayments.

 

(a)                                  Each Borrower may, upon notice from the
Company to the Administrative Agent, at any time or from time to time
voluntarily prepay Committed Loans in whole or in part without premium or
penalty; provided that (i) such notice must be received by the
Administrative Agent not later than 11:00 a.m. (A) three Business
Days prior to any date of prepayment of Eurocurrency Rate Loans denominated in
Dollars, (B) four Business Days (or five, in the case of prepayment of
Loans denominated in Special Notice Currencies) prior to any date of prepayment
of Eurocurrency Rate Loans denominated in Alternative Currencies, and (C) on
the date of prepayment of Base Rate Committed Loans; (ii) any prepayment
of Eurocurrency Rate Loans denominated in Dollars shall be in a principal
amount of $5,000,000 or a whole multiple of $1,000,000 in excess thereof; (iii) any
prepayment of Eurocurrency Rate Loans denominated in Alternative Currencies
shall be in a minimum principal amount of $5,000,000 or a whole multiple of
$1,000,000 in excess thereof; and (iv) any prepayment of Base Rate
Committed Loans shall be in a principal amount of $1,000,000 or a whole
multiple of $100,000 in excess thereof or, in each case, if less, the entire
principal amount thereof then outstanding. 
Each such notice shall specify the date and amount of such prepayment
and the Type(s) of Committed Loans to be prepaid and, if Eurocurrency Loans are
to be prepaid, the Interest Period(s) of such Loans.  The Administrative Agent will promptly notify
each Lender of its receipt of each such notice, and of the amount of such
Lender’s Applicable Percentage of such prepayment.  If such notice is given by the Company, the
applicable Borrower shall make such prepayment and the payment amount specified
in such notice shall be due and payable on the date specified therein.  Any prepayment of a Eurocurrency Rate Loan
shall be accompanied by all accrued interest on the amount prepaid, together
with any additional amounts required pursuant to Section 3.05.  Each such prepayment shall be applied to the
Committed Loans of the Lenders in accordance with their respective Applicable
Percentages.

 

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

 

(c)                                  If for any reason the Total Outstandings at
any time exceed the Aggregate Commitments then in effect, the Company shall within
two Business Days prepay Loans and/or Cash Collateralize the L/C Obligations in
an aggregate amount equal to such excess; provided, however, that
the Company shall not be required to Cash Collateralize the L/C Obligations
pursuant to this Section 2.05(c) unless after the prepayment
in full of the Loans the Total Outstandings exceed the Aggregate Commitments
then in effect.  If for any reason the
Outstanding Amount of all Swing Line Loans exceeds the Swing Line Sublimit, the
Company shall within two Business Days prepay the Swing Line Loans in aggregate
amount equal to such excess.  The
Administrative Agent may, at any time and from time to time after the initial
deposit of such Cash Collateral, request that additional Cash Collateral be
provided in order to protect against the results of exchange rate fluctuations.

 

42

 

2.06                        Termination
or Reduction of Commitments.

 

The Company may, upon notice to the Administrative
Agent, terminate the Aggregate Commitments, or from time to time permanently
reduce the Aggregate Commitments; provided that (i) any such notice
shall be received by the Administrative Agent not later than 11:00 a.m. three
Business Days prior to the date of termination or reduction, (ii) any such
partial reduction shall be in an aggregate amount of $5,000,000 or any whole
multiple of $500,000 in excess thereof, (iii) the Company shall not
terminate or reduce the Aggregate Commitments if, after giving effect thereto
and to any concurrent prepayments hereunder, the Total Outstandings would
exceed the Aggregate Commitments, and (iv) if, after giving effect to any
reduction of the Aggregate Commitments, the Alternative Currency Sublimit, the
Letter of Credit Sublimit or the Swing Line Sublimit exceeds the amount of the
Aggregate Commitments, such Sublimit shall be automatically reduced by the
amount of such excess.  The
Administrative Agent will promptly notify the Lenders of any such notice of
termination or reduction of the Aggregate Commitments.  The amount of any such Aggregate Commitment
reduction shall not be applied to the Alternative Currency Sublimit, the Letter
of Credit Sublimit or the Swing Line Sublimit unless otherwise specified by the
Company.  Any reduction of the Aggregate
Commitments shall be applied to the Commitment of each Lender according to its
Applicable Percentage.  All fees accrued
until the effective date of any termination of the Aggregate Commitments shall
be paid on the effective date of such termination.

 

2.07                        Repayment
of Loans.

 

(a)                                  Each Borrower shall repay to the Lenders on
the Maturity Date the aggregate principal amount of Committed Loans made to
such Borrower outstanding on such date.

 

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

 

2.08                        Interest.

 

(a)                                  Subject to the provisions of subsection (b) below,
(i) each Eurocurrency Rate Loan shall bear interest on the outstanding
principal amount thereof for each Interest Period at a rate per annum equal to
the Eurocurrency Rate for such Interest Period plus the Applicable Rate plus
(in the case of a Eurocurrency Rate Loan of any Lender which is lent from a
Lending Office in the United Kingdom or a Participating Member State) the
Mandatory Cost; (ii) each Base Rate Committed Loan shall bear interest on
the outstanding principal amount thereof from the applicable borrowing date at
a rate per annum equal to the Base Rate plus the Applicable Rate; and (iii) each
Swing Line Loan shall bear interest on the outstanding principal amount thereof
from the applicable borrowing date at a rate per annum equal to the Base Rate plus
the Applicable Rate.

 

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

 

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

 

(c)                                  Interest on each Loan shall be due and
payable in arrears on each Interest Payment Date applicable thereto and at such
other times as may be specified herein. 
Interest hereunder shall be due and

 

43

 

payable
in accordance with the terms hereof before and after judgment, and before and
after the commencement of any proceeding under any Debtor Relief Law.

 

2.09                        Fees.

 

In addition to certain fees described in
subsections (i) and (j) of Section 2.03:

 

(a)                                  Facility Fee.  The
Company shall pay to the Administrative Agent for the account of each Lender in
accordance with its Applicable Percentage, a facility fee in Dollars equal to
the Applicable Rate times the actual daily amount of the Aggregate
Commitments (or, if the Aggregate Commitments have terminated, on the
Outstanding Amount of all Committed Loans, Swing Line Loans and L/C Obligations),
regardless of usage.  The facility fee
shall accrue at all times during the Availability Period (and thereafter so
long as any Committed Loans, Swing Line Loans or L/C Obligations remain
outstanding), including at any time during which one or more of the conditions
in Article V is not met, and shall be due and payable quarterly in
arrears on the last Business Day of each March, June, September and
December, commencing with the first such date to occur after the Closing Date,
and on the Maturity Date (and, if applicable, thereafter on demand).  The facility fee shall be calculated
quarterly in arrears, and if there is any change in the Applicable Rate during
any quarter, the actual daily amount shall be computed and multiplied by the
Applicable Rate separately for each period during such quarter that such
Applicable Rate was in effect.

 

(b)                                 Other Fees.  The Company shall pay to the
Joint Lead Arrangers and the Administrative Agent for their own respective
accounts, in Dollars, fees in the amounts and at the times specified in the Fee
Letter.  Such fees shall be fully earned
when paid and shall not be refundable for any reason whatsoever.

 

2.10                        Computation
of Interest and Fees.

 

All computations of interest for Base Rate Loans
when the Base Rate is determined by Bank of America’s “prime rate” shall be
made on the basis of a year of 365 or 366 days, as the case may be, and actual
days elapsed.  All other computations of
fees and interest shall be made on the basis of a 360-day year and actual days
elapsed (which results in more fees or interest, as applicable, being paid than
if computed on the basis of a 365-day year), or, in the case of interest in
respect of Committed Loans denominated in Alternative Currencies as to which
market practice differs from the foregoing, in accordance with such market
practice.  Interest shall accrue on each
Loan for the day on which the Loan is made, and shall not accrue on a Loan, or
any portion thereof, for the day on which the Loan or such portion is paid, provided
that any Loan that is repaid on the same day on which it is made shall, subject
to Section 2.12(a), bear interest for one day.  Each determination by the Administrative
Agent of an interest rate or fee hereunder shall be conclusive and binding for
all purposes, absent manifest error.

 

2.11                        Evidence
of Debt.

 

(a)                                  The Credit Extensions made by each Lender
shall be evidenced by one or more accounts or records maintained by such Lender
and by the Administrative Agent in the ordinary course of business.  The accounts or records maintained by the
Administrative Agent and each Lender shall be conclusive absent manifest error
of the amount of the Credit Extensions made by the Lenders to the Borrowers and
the interest and payments thereon.  Any
failure to so record or any error in doing so shall not, however, limit or
otherwise affect the obligation of the Borrowers hereunder to pay any amount
owing with respect to the Obligations. 
In the event of any conflict between the accounts and records maintained
by any Lender and the accounts and records of the Administrative Agent in
respect of such matters, the accounts and records of the Administrative Agent
shall control in the absence of manifest error. 
Upon the request

 

44

 

of
any Lender to a Borrower made through the Administrative Agent, such Borrower
shall execute and deliver to such Lender (through the Administrative Agent) a
Note, which shall evidence such Lender’s Loans to such Borrower in addition to
such accounts or records.  Each such Note
shall (i) in the case of Committed Loans, be in the form of Exhibit C
(a “Revolving Note”) and (ii) in the case of Swing Line Loans, be
in the form of Exhibit D (a “Swing Line Note”).  Each Lender may attach schedules to a Note
and endorse thereon the date, Type (if applicable), amount, currency and
maturity of its Loans and payments with respect thereto.

 

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

 

2.12                        Payments
Generally; Administrative Agent’s Clawback.

 

(a)                                  General.  All payments to be made by the
Borrowers shall be made without deduction for any counterclaim or setoff.  Except as otherwise expressly provided herein
and except with respect to principal of and interest on Loans denominated in an
Alternative Currency, all payments by the Borrowers hereunder shall be made to
the Administrative Agent, for the account of the respective Lenders to which
such payment is owed, at the applicable Administrative Agent’s Office in
Dollars and in Same Day Funds not later than 2:00 p.m. on the date
specified herein.  Except as otherwise
expressly provided herein, all payments by the Borrowers hereunder with respect
to principal and interest on Loans denominated in an Alternative Currency shall
be made to the Administrative Agent, for the account of the respective Lenders
to which such payment is owed, at the applicable Administrative Agent’s Office
in such Alternative Currency and in Same Day Funds not later than the
Applicable Time specified by the Administrative Agent on the dates specified
herein.  Without limiting the generality
of the foregoing, the Administrative Agent may, to the extent permitted by
applicable Law, require that any payments due under this Agreement be made in
the United States.  If, for any reason,
any Borrower is prohibited by any Law from making any required payment
hereunder in an Alternative Currency, such Borrower shall make such payment in
Dollars in the Dollar Equivalent of the Alternative Currency payment
amount.  The Administrative Agent will
promptly distribute to each Lender its Applicable Percentage (or other
applicable share as provided herein) of such payment in like funds as received
by wire transfer to such Lender’s Lending Office.  All payments received by the Administrative
Agent (i) after 2:00 p.m., in the case of payments in Dollars, or (ii) after
the Applicable Time specified by the Administrative Agent in the case of
payments in an Alternative Currency, shall in each case be deemed received on
the next succeeding Business Day and any applicable interest or fee shall
continue to accrue.  If any payment to be
made by any Borrower shall come due on a day other than a Business Day, payment
shall be made on the next following Business Day, and such extension of time
shall be reflected in computing interest or fees, as the case may be.

 

(b)                                 (i)                                     Funding by Lenders; Presumption by
Administrative Agent.  Unless the Administrative Agent shall have
received notice from a Lender prior to the proposed date of any Committed
Borrowing of Eurocurrency Rate Loans (or, in the case of any Committed
Borrowing of Base Rate Loans, prior to 12:00 noon on the date of such Committed
Borrowing) that such Lender will not make available to the Administrative Agent
such Lender’s share of such Committed Borrowing, the Administrative Agent may
assume that such Lender has made such share available on such date in
accordance with Section 2.02 (or, in the case of a Committed
Borrowing of Base Rate Loans, that such Lender has made such share available in
accordance with and at the time required by Section 2.02) and may,
in reliance upon such assumption, make available to the applicable Borrower a
corresponding

 

45

 

amount.  In such event, if a Lender has not in fact
made its share of the applicable Committed Borrowing available to the
Administrative Agent, then the applicable Lender agrees to pay to the
Administrative Agent forthwith on demand such corresponding amount in Same Day
Funds with interest thereon, for each day from and including the date such
amount is made available to such Borrower to but excluding the date of payment
to the Administrative Agent, at the Overnight Rate.  If such Lender’s share of the applicable
Committed Borrowing is not made available to the Administrative Agent by such
Lender within three Business Days of the date such amount is made available to
the applicable Borrower, the Administrative Agent shall also be entitled to
recover such amount with interest thereon at the rate per annum applicable to
Base Rate Loans hereunder, on demand, from the applicable Borrower.  If such Lender pays its share of the
applicable Committed Borrowing to the Administrative Agent, then the amount so
paid shall constitute such Lender’s Committed Loan included in such Committed
Borrowing.  Any payment by such Borrower
shall be without prejudice to any claim such Borrower may have against a Lender
that shall have failed to make such payment to the Administrative Agent.

 

(ii)                                  Payments by Borrowers; Presumptions by
Administrative Agent.  Unless the Administrative Agent shall have
received notice from a Borrower prior to the date on which any payment is due
to the Administrative Agent for the account of the Lenders or the L/C Issuer
hereunder that such Borrower will not make such payment, the Administrative
Agent may assume that such Borrower has made such payment on such date in
accordance herewith and may, in reliance upon such assumption, distribute to
the Lenders or the L/C Issuer, as the case may be, the amount due.  In such event, if such Borrower has not in
fact made such payment, then each of the Lenders or the L/C Issuer, as the case
may be, severally agrees to repay to the Administrative Agent forthwith on
demand the amount so distributed to such Lender or the L/C Issuer, in Same Day
Funds with interest thereon, for each day from and including the date such
amount is distributed to it to but excluding the date of payment to the
Administrative Agent, at the Overnight Rate.

 

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

 

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

 

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

 

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

 

46

 

2.13                        Sharing
of Payments by Lenders.

 

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

 

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

 

(ii)                                  the provisions of this Section shall not
be construed to apply to (x) any payment made by a Borrower pursuant to and in
accordance with the express terms of this Agreement or (y) any payment obtained
by a Lender as consideration for the assignment of or sale of a participation
in any of its Committed Loans or subparticipations in L/C Obligations or Swing
Line Loans to any assignee or participant, other than to the Company or any
Subsidiary thereof (as to which the provisions of this Section shall apply).

 

Each
Loan Party consents to the foregoing and agrees, to the extent it may
effectively do so under applicable law, that any Lender acquiring a
participation pursuant to the foregoing arrangements may exercise against such
Loan Party rights of setoff and counterclaim with respect to such participation
as fully as if such Lender were a direct creditor of such Loan Party in the
amount of such participation.

 

2.14                        Designated
Borrowers.

 

(a)                                  The Company may at any time, upon not less
than ten Business Days’ notice from the Company to the Administrative Agent (or
such shorter period as may be agreed by the Administrative Agent in its sole
discretion), designate any additional Wholly Owned Subsidiary
of the Company (an “Applicant Borrower”) as a Designated Borrower to
receive Loans hereunder by delivering to the Administrative Agent (which shall
promptly deliver counterparts thereof to each Lender) a duly executed notice
and agreement in substantially the form of Exhibit H (a “Designated
Borrower Request and Assumption Agreement”).  The parties hereto acknowledge and agree that
prior to any Applicant Borrower becoming entitled to utilize the credit
facilities provided for herein, the Administrative Agent and the Lenders shall
have received such supporting resolutions, incumbency certificates, opinions of
counsel and other documents or information, in form, content and scope
reasonably satisfactory to the Administrative Agent, as may be required by the
Administrative Agent in its reasonable discretion, and Notes signed by such new
Borrowers to the extent any Lenders so request. 
If the Administrative Agent and the Required Lenders agree that an
Applicant Borrower shall be entitled to receive Loans hereunder, then promptly
following receipt of all such requested resolutions, incumbency certificates,
opinions of counsel and other documents or information, the Administrative
Agent shall send a notice in substantially the form of Exhibit I (a
“Designated Borrower Notice”) to the Company and the Lenders
specifying the effective date upon which the Applicant Borrower shall
constitute a Designated Borrower for purposes hereof, whereupon each of the
Lenders agrees to permit such Designated Borrower to receive Loans hereunder,
on the terms and conditions set forth herein, and each of the parties agrees
that such

 

47

 

Designated
Borrower otherwise shall be a Borrower for all purposes of this Agreement; provided
that no Committed Loan Notice or Letter of Credit Application may be submitted
by or on behalf of such Designated Borrower until the date five Business Days
after such effective date.

 

(b)                                 The Obligations of the Company and each
Designated Borrower that is a Domestic Subsidiary shall be joint and several in
nature regardless of which such Person actually receives Credit Extensions
hereunder or the amount of such Credit Extensions received or the manner in
which the Administrative Agent or any Lender accounts for such Credit
Extensions on its books and records. 
Each of the obligations of the Company and each Designated Borrower that
is a Domestic Subsidiary with respect to Credit Extensions made to it, and each
such Borrower’s obligations arising as a result of the joint and several
liability of such Borrower hereunder, with respect to Credit Extensions made to
and other Obligations owing by the Company and the other Borrowers that are
Domestic Subsidiaries hereunder, shall be separate and distinct obligations,
but all such obligations shall be primary obligations of each such Borrower.

 

(c)                                  The Obligations of the Designated Borrowers
that are Foreign Subsidiaries shall be joint and several in nature (unless such
joint and several liability shall result in adverse tax consequences to any
such Designated Borrower, in which case, the liability of such Designated
Borrower shall be several in nature) regardless of which such Person actually
receives Credit Extensions hereunder or the amount of such Credit Extensions
received or the manner in which the Administrative Agent or any Lender accounts
for such Credit Extensions on its books and records.  Each of the obligations of each Designated
Borrower that is a Foreign Subsidiary with respect to Credit Extensions made to
it, and each such Borrower’s obligations arising as a result of the joint and
several liability (if any) of such Borrower hereunder, with respect to Credit
Extensions made to and other Obligations owing by the other Borrowers that are
Foreign Subsidiaries hereunder, shall be separate and distinct obligations, but
all such obligations shall be primary obligations of each such Borrower.

 

(d)                                 Each Subsidiary of the Company that is or becomes a “Designated Borrower” pursuant to this Section 2.14
hereby irrevocably appoints the Company as its agent for all purposes relevant
to this Agreement and each of the other Loan Documents, including (i) the
giving and receipt of notices, (ii) the execution and delivery of all
documents, instruments and certificates contemplated herein and all
modifications hereto, and (iii) the receipt of the proceeds of any Loans
made by the Lenders, to any such Designated Borrower hereunder.  Any acknowledgment, consent, direction,
certification or other action which might otherwise be valid or effective only
if given or taken by all Borrowers, or by each Borrower acting singly, shall be
valid and effective if given or taken only by the Company, whether or not any
such other Borrower joins therein.  Any
notice, demand, consent, acknowledgement, direction, certification or other
communication delivered to the Company in accordance with the terms of this
Agreement shall be deemed to have been delivered to each Designated Borrower.

 

(e)                                  The Company may from time to time, upon not
less than ten Business Days’ notice from the Company to the Administrative Agent
(or such shorter period as may be agreed by the Administrative Agent in its
sole discretion), terminate a Designated Borrower’s status as such, provided
that there are no outstanding Loans payable by such Designated Borrower, or
other amounts payable by such Designated Borrower on account of any Loans made
to it, as of the effective date of such termination.  The Administrative Agent will promptly notify
the Lenders of any such termination of a Designated Borrower’s status.

 

48

ARTICLE III

TAXES, YIELD PROTECTION AND ILLEGALITY

 

3.01        Taxes.

 

(a)           Payments Free of Taxes.  Any
and all payments by or on account of any obligation of the respective Borrowers
hereunder or under any other Loan Document shall be made free and clear of and
without reduction or withholding for any Indemnified Taxes or Other Taxes, provided
that if the applicable Borrower shall be required by applicable law to deduct
any Indemnified Taxes or any Other Taxes from such payments, then (i) the
sum payable shall be increased as necessary so that after making all required
deductions (including deductions applicable to additional sums payable under
this Section 3.01) the Administrative Agent, Lender or L/C Issuer,
as the case may be, receives an amount equal to the sum it would have received
had no such deductions been made, (ii) such Borrower shall make such
deductions and (iii) such Borrower shall timely pay the full amount
deducted to the relevant Governmental Authority in accordance with applicable
law.

 

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

 

(c)           Indemnification by the Borrowers.  Each
Borrower shall indemnify the Administrative Agent, each Lender and the L/C
Issuer, within 10 days after demand therefor, for the full amount of any
Indemnified Taxes or Other Taxes (including Indemnified Taxes or Other Taxes
imposed or asserted on or attributable to amounts payable under this Section 3.01)
paid by the Administrative Agent, such Lender or the L/C Issuer, as the case
may be, and any penalties, interest and reasonable expenses arising therefrom
or with respect thereto, whether or not such Indemnified Taxes or Other Taxes
were correctly or legally imposed or asserted by the relevant Governmental
Authority.  A certificate as to the
amount of such payment or liability delivered to a Borrower by a Lender or the
L/C Issuer (with a copy to the Administrative Agent), or by the Administrative
Agent on its own behalf or on behalf of a Lender or the L/C Issuer, shall be
conclusive absent manifest error.

 

(d)           Evidence of Payments.  As
soon as practicable after any payment of Indemnified Taxes or Other Taxes by
any Borrower to a Governmental Authority, such Borrower shall deliver to the
Administrative Agent the original or a certified copy of a receipt issued by
such Governmental Authority evidencing such payment or other evidence of such
payment reasonably satisfactory to the Administrative Agent.

 

(e)           Status of Lenders.  Any
Foreign Lender that is entitled to an exemption from or reduction of
withholding tax under the law of the jurisdiction in which a Borrower is
resident for tax purposes, or any treaty to which such jurisdiction is a party,
with respect to payments hereunder or under any other Loan Document shall
deliver to the Company (with a copy to the Administrative Agent), at the time
or times prescribed by applicable law or reasonably requested by the Company or
the Administrative Agent, such properly completed and executed documentation
prescribed by applicable law as will permit such payments to be made without
withholding or at a reduced rate of withholding.  In addition, any Lender, if requested by the
Company or the Administrative Agent, shall deliver such other documentation
prescribed by applicable law or reasonably requested by the Company or the
Administrative Agent as will enable the Company or the Administrative Agent to
determine whether or not such Lender, the Administrative Agent or the L/C
Issuer is subject to backup withholding or information reporting requirements.  Each Lender, the Administrative Agent or the
L/C Issuer shall promptly notify the Company at any time it determines that it
is no longer in a position to provide any previously delivered certificate or
form.

 

49

 

Without limiting the generality of the foregoing, in
the event that a Borrower is resident for tax purposes in the United States,
any Foreign Lender shall deliver to Company and the Administrative Agent (in
such number of copies as shall be requested by the recipient) on or prior to
the date on which such Foreign Lender becomes a Lender under this Agreement (and
from time to time thereafter upon the request of the Company or the
Administrative Agent, but only if such Foreign Lender is legally entitled to do
so), whichever of the following is applicable:

 

(i)            properly completed and duly executed copies
of Internal Revenue Service Form W-8BEN (or any subsequent versions
thereof or successors thereto) claiming eligibility for benefits of an income
tax treaty to which the United States is a party,

 

(ii)           properly completed and duly executed copies of Internal Revenue Service
Form W-8ECI (or any subsequent versions thereof or successors thereto)
claiming an exemption for effectively connected income,

 

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

 

(iv)          any other form prescribed by applicable law as a basis for claiming
exemption from or a reduction in United States Federal withholding tax properly
completed and duly executed together with such supplementary documentation as
may be prescribed by applicable law to permit the Company to determine the
withholding or deduction required to be made.

 

Without limiting the obligations of the Lenders set
forth above regarding delivery of certain forms and documents to establish each
Lender’s status for U.S.  withholding tax
purposes, each Lender agrees promptly to deliver to the Administrative Agent or
the Company, as the Administrative Agent or the Company shall reasonably
request, on or prior to the Closing Date, and in a timely fashion thereafter,
such other documents and forms required by any relevant taxing authorities
under the Laws of any other jurisdiction, duly executed and completed by such
Lender, as are required under such Laws to confirm such Lender’s entitlement to
any available exemption from, or reduction of, applicable withholding taxes in
respect of all payments to be made to such Lender outside of the U.S. by the
Borrowers pursuant to this Agreement or otherwise to establish such Lender’s
status for withholding tax purposes in such other jurisdiction.  Each Lender shall promptly (i) notify
the Administrative Agent of any change in circumstances which would modify or
render invalid any such claimed exemption or reduction, and (ii) take such
steps as shall not be materially disadvantageous to it, in the reasonable
judgment of such Lender, and as may be reasonably necessary (including the re-designation
of its Lending Office) to avoid any requirement of applicable Laws of any such
jurisdiction that any Borrower make any deduction or withholding for taxes from
amounts payable to such Lender. 
Additionally, each of the Borrowers shall promptly deliver to the
Administrative Agent or any Lender, as the Administrative Agent or such Lender
shall reasonably request, on or prior to the Closing Date, and in a timely
fashion thereafter, such documents and forms required by any relevant taxing
authorities under the Laws of any jurisdiction, duly executed and completed by
such Borrower, as are required to be furnished by such Lender or the
Administrative Agent under such Laws in connection with any payment by the
Administrative Agent or

 

50

 

any
Lender of Taxes or Other Taxes, or otherwise in connection with the Loan
Documents, with respect to such jurisdiction.

 

(f)            Treatment of Certain Refunds.  If
the Administrative Agent, any Lender or the L/C Issuer determines, in its sole
discretion exercised in good faith, that it has received a refund of any Taxes
or Other Taxes as to which it has been indemnified by any Borrower or with
respect to which any Borrower has paid additional amounts pursuant to this
Section, it shall pay to such Borrower an amount equal to such refund (but only
to the extent of indemnity payments made, or additional amounts paid, by such
Borrower under this Section with respect to the Taxes or Other Taxes
giving rise to such refund), net of all out-of-pocket expenses of the
Administrative Agent, such Lender or the L/C Issuer, as the case may be, and
without interest (other than any interest paid by the relevant Governmental
Authority with respect to such refund), provided that each Borrower,
upon the request of the Administrative Agent, such Lender or the L/C Issuer,
agrees to repay the amount paid over to such Borrower (plus any penalties,
interest or other charges imposed by the relevant Governmental Authority) to
the Administrative Agent, such Lender or the L/C Issuer in the event the
Administrative Agent, such Lender or the L/C Issuer is required to repay such refund
to such Governmental Authority.  This subsection shall
not be construed to require the Administrative Agent, any Lender or the L/C
Issuer to make available its tax returns (or any other information relating to
its taxes that it deems confidential) to any Borrower or any other Person.

 

3.02        Illegality.

 

If any Lender determines that as a result of any
Change in Law it becomes unlawful, or any Governmental Authority asserts that
it is unlawful, for any Lender or its applicable Lending Office to make, maintain
or fund Eurocurrency Rate Loans (whether denominated in Dollars or an
Alternative Currency), or to determine or charge interest rates based upon the
Eurocurrency Rate, or any Governmental Authority has imposed material
restrictions on the authority of such Lender to purchase or sell, or to take
deposits of, Dollars or any Alternative Currency in the applicable interbank
market, then, on notice thereof by such Lender to the Company through the
Administrative Agent, any obligation of such Lender to make or continue
Eurocurrency Rate Loans in the affected currency or currencies or, in the case
of Eurocurrency Rate Loans in Dollars, to convert Base Rate Committed Loans to
Eurocurrency Rate Loans, shall be suspended until such Lender notifies the
Administrative Agent and the Company that the circumstances giving rise to such
determination no longer exist.  Upon
receipt of such notice, the Borrowers shall, upon demand from such Lender (with
a copy to the Administrative Agent), prepay or, if applicable and such Loans
are denominated in Dollars, convert all such Eurocurrency Rate Loans of such
Lender to Base Rate Loans, either on the last day of the Interest Period
therefor, if such Lender may lawfully continue to maintain such Eurocurrency
Rate Loans to such day, or immediately, if such Lender may not lawfully
continue to maintain such Eurocurrency Rate Loans.  Upon any such prepayment or conversion, the
Borrowers shall also pay accrued interest on the amount so prepaid or
converted.

 

3.03        Inability
to Determine Rates.

 

If the Required Lenders determine that for any
reason in connection with any request for a Eurocurrency Rate Loan or a
conversion to or continuation thereof that (a) adequate and reasonable
means do not exist for determining the Eurocurrency Rate for any requested
Interest Period with respect to a proposed Eurocurrency Rate Loan (whether
denominated in Dollars or an Alternative Currency) or (b) the Eurocurrency
Rate for any requested Interest Period with respect to a proposed Eurocurrency
Rate Loan does not adequately and fairly reflect the cost to such Lenders of
funding such Eurocurrency Rate Loan, the Administrative Agent will promptly so
notify the Company and each Lender. 
Thereafter, the obligation of the Lenders to make or maintain Eurocurrency
Rate Loans in the affected currency or currencies shall be suspended until the
Administrative Agent (upon the instruction of the Required Lenders) revokes
such notice.  Upon receipt of such
notice, the Company may revoke any pending

 

51

 

request
for a Borrowing of, conversion to or continuation of Eurocurrency Rate Loans in
the affected currency or currencies or, failing that, will be deemed to have
converted such request into a request for a Committed Borrowing of Base Rate
Loans in the amount specified therein.

 

3.04        Increased
Costs.

 

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

 

(i)            impose, modify or deem applicable any
reserve, special deposit, compulsory loan, insurance charge or similar
requirement against assets of, deposits with or for the account of, or credit
extended or participated in by, any Lender (except (A) any reserve
requirement contemplated by Section 3.04(e) and (B) the
requirements of the Bank of England and the Financial Services Authority or the
European Central Bank reflected in the Mandatory Cost, other than as set forth
below) or the L/C Issuer;

 

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

 

(iii)          result in the Mandatory Cost, as calculated hereunder, not representing
the cost to any Lender of complying with the requirements of the Bank of
England and/or the Financial Services Authority or the European Central Bank in
relation to its making, funding or maintaining Eurocurrency Rate Loans; or

 

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

 

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

 

(b)           Capital Requirements.  If
any Lender or the L/C Issuer determines that any Change in Law affecting such
Lender or the L/C Issuer or any Lending Office of such Lender or such Lender’s
or the L/C Issuer’s holding company, if any, regarding capital requirements has
or would have the effect of reducing the rate of return on such Lender’s or the
L/C Issuer’s capital or on the capital of such Lender’s or the L/C Issuer’s
holding company, if any, as a consequence of this Agreement, the Commitments of
such Lender or the Loans made by, or participations in Letters of Credit held
by, such Lender, or the Letters of Credit issued by the L/C Issuer, to a level
below that which such Lender or the L/C Issuer or such Lender’s or the L/C
Issuer’s holding company could have achieved but for such Change in Law (taking
into consideration such Lender’s or the L/C Issuer’s policies and the policies
of such Lender’s or

 

52

 

the
L/C Issuer’s holding company with respect to capital adequacy), by an amount
deemed by such Lender to be material in its sole discretion then from time to
time the Company will pay (or cause the applicable Designated Borrower to pay)
to such Lender or the L/C Issuer, as the case may be, such additional amount or
amounts as will compensate such Lender or the L/C Issuer or such Lender’s or
the L/C Issuer’s holding company for any such reduction suffered.

 

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

 

(d)           Delay in Requests. 
Failure or delay on the part of any Lender or the L/C Issuer to demand
compensation pursuant to the foregoing provisions of this Section shall
not constitute a waiver of such Lender’s or the L/C Issuer’s right to demand
such compensation, provided that no Borrower shall be required to
compensate a Lender or the L/C Issuer pursuant to the foregoing provisions of
this Section for any increased costs incurred or reductions suffered more
than 120 days prior to the date that such Lender or the L/C Issuer, as the case
may be, notifies the Company of the Change in Law giving rise to such increased
costs or reductions and of such Lender’s or the L/C Issuer’s intention to claim
compensation therefor (except that, if the Change in Law giving rise to such
increased costs or reductions is retroactive, then the 120-day period referred
to above shall be extended to include the period of retroactive effect
thereof).

 

(e)           Additional Reserve Requirements.  The
Company shall pay (or cause the applicable Designated Borrower to pay) to each
Lender, (i) as long as such Lender shall
be required to maintain reserves with respect to liabilities or assets
consisting of or including Eurocurrency funds or deposits (currently known as “Eurocurrency
liabilities”), additional interest on the unpaid principal amount of each
Eurocurrency Rate Loan equal to the actual costs of such reserves allocated to
such Loan by such Lender (as determined by such Lender in good faith, which
determination shall be conclusive), and (ii) as long as such Lender shall
be required to comply with any reserve ratio requirement or analogous
requirement of any other central banking or financial regulatory authority
imposed in respect of the maintenance of the Commitments or the funding of the
Eurocurrency Rate Loans, such additional costs (expressed as a percentage per
annum and rounded upwards, if necessary, to the nearest five decimal places)
equal to the actual costs allocated to such Commitment or Loan by such Lender
(as determined by such Lender in good faith, which determination shall be
conclusive), which in each case shall be due and payable on each date on which
interest is payable on such Loan, provided the Company shall have received
at least 10 days’ prior notice (with a copy to the Administrative Agent) of
such additional interest or costs from such Lender.  If a Lender fails to give notice 10 days
prior to the relevant Interest Payment Date, such additional interest or costs
shall be due and payable 10 days from receipt of such notice.

 

3.05        Compensation
for Losses.

 

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

 

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

 

53

 

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

 

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

 

including
any loss of any foreign exchange losses and any loss or expense (but excluding loss
of margin) arising from the liquidation or reemployment of funds obtained by it
to maintain such Loan, from fees payable to terminate the deposits from which
such funds were obtained or from the performance of any foreign exchange
contract.

 

For
purposes of calculating amounts payable by the Company (or the applicable
Designated Borrower) to the Lenders under this Section 3.05, each
Lender shall be deemed to have funded each Eurocurrency Rate Loan made by it at
the Eurocurrency Rate for such Loan by a matching deposit or other borrowing in
the offshore interbank market for such currency for a comparable amount and for
a comparable period, whether or not such Eurocurrency Rate Loan was in fact so
funded.

 

3.06        Mitigation
Obligations; Replacement of Lenders.

 

(a)           Designation of a Different Lending Office.  If
any Lender requests compensation under Section 3.04, or any
Borrower is required to pay any additional amount to any Lender or any
Governmental Authority for the account of any Lender pursuant to Section 3.01,
or if any Lender gives a notice pursuant to Section 3.02, then such
Lender shall use reasonable efforts to designate a different Lending Office for
funding or booking its Loans hereunder or to assign its rights and obligations
hereunder to another of its offices, branches or affiliates, if, in the
reasonable judgment of such Lender, such designation or assignment (i) would
eliminate or reduce amounts payable pursuant to Section 3.01 or 3.04,
as the case may be, in the future, or eliminate the need for the notice
pursuant to Section 3.02, as applicable, and (ii) in each
case, would not subject such Lender to any unreimbursed cost or expense and
would not otherwise be disadvantageous to such Lender.  The Company hereby agrees to pay (or to cause
the applicable Designated Borrower to pay) all reasonable costs and expenses
incurred by any Lender in connection with any such designation or assignment.

 

(b)           Replacement of Lenders.  If
any Lender requests compensation under Section 3.04, if any
Borrower is required to pay any additional amount to any Lender or any
Governmental Authority for the account of any Lender pursuant to Section 3.01,
or if any Lender gives notice pursuant to Section 3.02, the Company
may replace such Lender in accordance with Section 11.13.

 

3.07        Survival.

 

All of the Borrowers’ obligations under Sections
3.01, 3.02, 3.04 and 3.05 shall survive termination of
the Aggregate Commitments and repayment of all other Obligations hereunder.

 

ARTICLE IV

GUARANTY

 

4.01        The
Guaranty.

 

(a)           Each of the Subsidiary Guarantors hereby
jointly and severally guarantees to each Lender and the Administrative Agent as
hereinafter provided, as primary obligor and not as surety, the prompt

 

54

 

payment
of the Obligations in full when due (whether at stated maturity, as a mandatory
prepayment, by acceleration, as a mandatory cash collateralization or
otherwise) strictly in accordance with the terms thereof.  The Subsidiary Guarantors hereby further
agree that if any of the Obligations are not paid in full when due (whether at
stated maturity, as a mandatory prepayment, by acceleration, as a mandatory
cash collateralization or otherwise), the Subsidiary Guarantors will, jointly
and severally, promptly pay the same, without any demand or notice whatsoever,
and that in the case of any extension of time of payment or renewal of any of
the Obligations, the same will be promptly paid in full when due (whether at
extended maturity, as a mandatory prepayment, by acceleration, as a mandatory
cash collateralization or otherwise) in accordance with the terms of such extension
or renewal.

 

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

 

(c)           Notwithstanding any provision to the contrary
contained herein or in any other of the Loan Documents, the obligations of each
Guarantor under this Agreement and the other Loan Documents shall be limited to
an aggregate amount equal to the largest amount that would not render such
obligations subject to avoidance under the Debtor Relief Laws or any comparable
provisions of any applicable state law.

 

4.02        Obligations
Unconditional.

 

(a)           The obligations of the Subsidiary Guarantors
under Section 4.01(a) are joint and several, absolute and
unconditional, irrespective of the value, genuineness, validity, regularity or
enforceability of any of the Loan Documents or any other agreement or instrument
referred to therein, or any substitution, release, impairment or exchange of
any other guarantee of or security for any of the Obligations, and, to the
fullest extent permitted by applicable law, irrespective of any other
circumstance whatsoever which might otherwise constitute a legal or equitable
discharge or defense of a surety or guarantor, it being the intent of this Section 4.02(a) that
the obligations of the Subsidiary Guarantors hereunder shall be absolute and
unconditional under any and all circumstances. 
Each Subsidiary Guarantor agrees that such Subsidiary Guarantor shall
have no right of subrogation, indemnity, reimbursement or contribution against
the Company or any other Subsidiary Guarantor for amounts paid under this Article IV
until such time as the Obligations have been Fully Satisfied.

 

(b)           The obligations of the Company under Section 4.01(b) are
absolute and unconditional, irrespective of the value, genuineness, validity,
regularity or enforceability of any of the Loan Documents or any other
agreement or instrument referred to therein, or any substitution, release,
impairment or exchange of any other guarantee of or security for any of the
Designated Borrower Obligations, and, to the fullest extent permitted by
applicable law, irrespective of any other circumstance whatsoever which might
otherwise constitute a legal or equitable discharge or defense of a surety or
guarantor, it being the intent of this Section 4.02(b) that
the obligations of the Company hereunder shall be absolute and unconditional
under any and all circumstances.  The
Company agrees that it shall have no right of subrogation, indemnity,
reimbursement or contribution against the any Designated Borrower for amounts
paid under this Article IV until such time as the Designated
Borrower Obligations have been Fully Satisfied.

 

55

 

(c)           Without limiting the generality of the
foregoing subsections (a) and (b), it is agreed that, to the fullest extent
permitted by law, the occurrence of any one or more of the following shall not
alter or impair the liability of any Guarantor hereunder which shall remain
absolute and unconditional as described above:

 

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

 

(ii)           any of the acts mentioned in any of the provisions of any of the Loan
Documents or any other agreement or instrument referred to in the Loan
Documents shall be done or omitted;

 

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

 

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

 

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

 

4.03        Reinstatement.

 

(a)           The obligations of the Subsidiary Guarantors
under this Article IV shall be automatically reinstated if and to
the extent that for any reason any payment by or on behalf of any Person in
respect of the Obligations is rescinded or must be otherwise restored by any
holder of any of the Obligations, whether as a result of any proceedings in
bankruptcy or reorganization or otherwise, and each Subsidiary Guarantor agrees
that it will indemnify the Administrative Agent and each Lender on demand for
all reasonable costs and expenses (including, without limitation, fees and
expenses of counsel) incurred by the Administrative Agent or such Lender in
connection with such rescission or restoration, including any such costs and
expenses incurred in defending against any claim alleging that such payment
constituted a preference, fraudulent transfer or similar payment under any
bankruptcy, insolvency or similar law.

 

(b)           The obligations of the Company under this Article IV
shall be automatically reinstated if and to the extent that for any reason any
payment by or on behalf of any Person in respect of the Designated Borrower
Obligations is rescinded or must be otherwise restored by any holder of any of
the Designated Borrower Obligations, whether as a result of any proceedings in
bankruptcy or reorganization or otherwise, and the Company agrees that it will
indemnify the Administrative Agent and each Lender on demand for all reasonable
costs and expenses (including, without limitation, fees and expenses of
counsel) incurred by the Administrative Agent or such Lender in connection with
such rescission or restoration, including any such costs and expenses incurred
in defending against any claim alleging that such payment constituted a
preference, fraudulent transfer or similar payment under any bankruptcy,
insolvency or similar law.

 

56

 

4.04        Certain
Additional Waivers.

 

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

 

4.05        Remedies.

 

(a)           The Subsidiary Guarantors agree that, to the
fullest extent permitted by law, as between the Subsidiary Guarantors, on the
one hand, and the Administrative Agent and the Lenders, on the other hand, the
Obligations may be declared to be forthwith due and payable as provided in Section 9.02
(and shall be deemed to have become automatically due and payable in the
circumstances provided in said Section 9.02) for purposes of Section 4.01(a) notwithstanding
any stay, injunction or other prohibition preventing such declaration (or preventing
the Obligations from becoming automatically due and payable) as against any
other Person and that, in the event of such declaration (or the Obligations
being deemed to have become automatically due and payable), the Obligations
(whether or not due and payable by any other Person) shall forthwith become due
and payable by the Subsidiary Guarantors for purposes of Section 4.01(a).

 

(b)           The Company agrees that, to the fullest
extent permitted by law, as between the Company, on the one hand, and the
Administrative Agent and the Lenders, on the other hand, the Designated
Borrower Obligations may be declared to be forthwith due and payable as
provided in Section 9.02 (and shall be deemed to have become
automatically due and payable in the circumstances provided in said Section 9.02)
for purposes of Section 4.01(b) notwithstanding any stay,
injunction or other prohibition preventing such declaration (or preventing the
Designated Borrower Obligations from becoming automatically due and payable) as
against any other Person and that, in the event of such declaration (or the
Designated Borrower Obligations being deemed to have become automatically due
and payable), the Designated Borrower Obligations (whether or not due and
payable by any other Person) shall forthwith become due and payable by the
Company for purposes of Section 4.01(b).

 

4.06        Rights
of Contribution.

 

The Subsidiary Guarantors hereby agree as among
themselves that, in connection with payments made hereunder, each Subsidiary
Guarantor shall have a right of contribution from each other Subsidiary
Guarantor in accordance with applicable Law. 
Such contribution rights shall be subordinate and subject in right of
payment to the Obligations until such time as the Obligations have been Fully
Satisfied, and none of the Subsidiary Guarantors shall exercise any such
contribution rights until the Obligations have been Fully Satisfied.

 

4.07        Guarantee
of Payment; Continuing Guarantee.

 

(a)           The guarantee given by the Subsidiary
Guarantors in this Article IV is a guaranty of payment and not of
collection, is a continuing guarantee, and shall apply to all Obligations
whenever arising.

 

(b)           The guarantee given by the Company in this Article IV
is a guaranty of payment and not of collection, is a continuing guarantee, and
shall apply to all Designated Borrower Obligations whenever arising.

 

57

 

ARTICLE V

CONDITIONS PRECEDENT TO CREDIT EXTENSIONS

 

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

 

(a)           Receipt by the Administrative Agent of the following:

 

(i)            executed counterparts of this Agreement and
the other Loan Documents, each properly executed by a Responsible Officer of
the signing Loan Party and, in the case of this Agreement, by each Lender;

 

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

 

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

 

(iv)          such documents and certifications as the Administrative Agent may
reasonably require to evidence that each Loan Party is duly organized or
formed, and that the Company and each Subsidiary Guarantor is validly existing,
in good standing and qualified to engage in business in its jurisdiction of
formation;

 

(v)           a favorable opinion of Simpson Thacher and Bartlett LLP, special counsel
to the Loan Parties and Edward C. Wetmore, general counsel for the Company,
addressed to the Administrative Agent and each Lender party to this Agreement
on the Closing Date;

 

(vi)          a certificate signed by a Responsible Officer of the Company certifying
(A) that the conditions specified in Sections 5.02(a) and
(b) have been satisfied; and (B) that there has been no event
or circumstance since the date of the Audited Financial Statements that has had
or could be reasonably expected to have, either individually or in the
aggregate, a Material Adverse Effect; and

 

(vii)         evidence that the Existing Credit Agreement has been or concurrently
with the Closing Date is being terminated, all loans thereunder shall have been
repaid and all Liens securing obligations under the Existing Credit Agreement
have been or concurrently with the Closing Date are being released; and

 

(b)           Any fees required to be paid on or before the Closing Date shall have
been paid.

 

(c)           Unless waived by the Administrative Agent, the Company shall have paid
all reasonable fees, charges and disbursements of counsel to the Administrative
Agent to the extent invoiced prior to or on the Closing Date.

 

58

 

5.02        Conditions
to all Credit Extensions.

 

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

 

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

 

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

 

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

 

(d)           If the applicable Borrower is a Designated Borrower, then the
conditions of Section 2.14 to the designation of such Borrower as a
Designated Borrower shall have been met to the satisfaction of the
Administrative Agent.

 

(e)           In the case of a Credit Extension to be denominated in an Alternative
Currency, there shall not have occurred any change in national or international
financial, political or economic conditions or currency exchange rates or
exchange controls which in the reasonable opinion of the Administrative Agent
(in the case of any Loans to be denominated in an Alternative Currency) or the
L/C Issuer (in the case of any Letter of Credit to be denominated in an
Alternative Currency) would make it impracticable for such Credit Extension to
be denominated in the relevant Alternative Currency.

 

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

 

ARTICLE VI

REPRESENTATIONS AND WARRANTIES

 

In order to induce the Lenders to enter into this
Agreement and to make the Loans, to induce the L/C Issuer to issue Letters of
Credit and to induce other Lenders to purchase participations therein, the
Borrowers represent and warrant to each Lender, on the date of this Agreement,
on each date of any Credit Extension, that the following statements are true,
correct and complete:

 

6.01        Existence,
Qualification and Power; Compliance with Laws.

 

(a)           Each Loan Party (i) is a corporation,
partnership, trust or limited liability company duly organized, validly
existing and in good standing under the Laws of its jurisdiction of
organization and

 

59

 

(ii) has
all requisite power and authority to own and operate its properties and to
carry on its business as now conducted and as proposed to be conducted.  Each Loan Party has all requisite power and
authority to enter into the Loan Documents to which it is a party and to carry
out the transactions contemplated thereby.

 

(b)           Each Loan Party is qualified to do business
and in good standing in every jurisdiction where its assets are located and
wherever necessary to carry out its business and operations, except to the
extent that the failure to be so qualified or in good standing has not had and
will not have a Material Adverse Effect.

 

(c)           All of the Subsidiaries of the Company as of
the Closing Date and their jurisdictions of organization are identified in Schedule 6.01(c) annexed
hereto.  The Equity Interests of each of
the Subsidiaries of the Company identified in Schedule 6.01(c) annexed
hereto is duly authorized, validly issued, fully paid and nonassessable and
none of the capital stock constitutes Margin Stock.  Schedule 6.01(c) annexed
hereto correctly sets forth, as of the Closing Date, the ownership interest of
the Company and each of its Subsidiaries in each of the Subsidiaries of the
Company identified therein.  To the best
knowledge of the Company, each Material Subsidiary as of the Closing Date has
been so designated on said Schedule 6.01(c).

 

6.02        Authorization;
No Contravention.

 

(a)           The execution, delivery and performance of
the Loan Documents have been duly authorized by all necessary corporate action
on the part of each Loan Party that is a party thereto.

 

(b)           The execution, delivery and performance by
Loan Parties of the Loan Documents to which they are parties and the
consummation of the transactions contemplated by the Loan Documents do not and
will not (i) violate any provision of any material law or any material
governmental rule or regulation applicable to the Company or any of its
Material Subsidiaries or any other Loan Party, the Organizational Documents of
the Company or any of its Subsidiaries, or any material order, judgment or
decree of any court or other agency of government binding on the Company or any
of its Material Subsidiaries or any other Loan Party, (ii) conflict with,
result in a breach of or constitute (with due notice or lapse of time or both)
a default under any Contractual Obligation of the Company or any of its
Material Subsidiaries or any other Loan Party, or (iii) result in or
require the creation or imposition of any Lien under any such Contractual
Obligation upon any of the properties or assets of the Company or any of its
Subsidiaries.

 

(c)           The execution, delivery and performance by
the Loan Parties of the Loan Documents to which they are parties and the
consummation of the transactions contemplated by the Loan Documents do not and
will not require any registration with, consent or approval of, or notice to,
or other action to, with or by, any federal, state or other governmental
authority or regulatory body except any thereof that have been obtained and are
in full force and effect.

 

(d)           Each of the Loan Documents has been duly
executed and delivered by each Loan Party that is a party thereto and is the
legally valid and binding obligation of such Loan Party, enforceable against
such Loan Party in accordance with its respective terms, except as may be
limited by bankruptcy, insolvency, reorganization, moratorium or similar laws
relating to or limiting creditors’ rights generally or by equitable principles
relating to enforceability.

 

60

 

6.03        Financial Statements.

 

(a)           The Audited Financial Statements (i) were
prepared in conformity with GAAP, except as otherwise noted therein and (ii) fairly
present, in all material respects, the financial position (on a consolidated
basis) of the entities described in such financial statements as at the
respective dates thereof and the results of operations and cash flows (on a
consolidated basis) of the entities described therein for each of the periods
then ended.

 

(b)           The unaudited consolidated balance sheet of
the Company and its Subsidiaries dated March 31, 2005, and the related
consolidated statements of income or operations, shareholders’ equity and cash
flows for the fiscal quarter ended on that date (i) were prepared in
accordance with GAAP consistently applied throughout the period covered
thereby, except as otherwise expressly noted therein, and (ii) fairly
present, in all material respects, the financial condition of the Company and
its Subsidiaries as of the date thereof and their results of operations for the
period covered thereby, subject, in the case of clauses (i) and (ii),
to the absence of footnotes and to normal year-end audit adjustments.

 

(c)           The consolidated operating and related
budgets of the Company and its Subsidiaries delivered pursuant to Section 7.01(i) were
prepared in good faith based upon assumptions believed by the Company to be
reasonable at the time when made and at the time when delivered pursuant to Section 7.01(i) (it
being understood that the forecasts contained therein are subject to
significant uncertainties and contingencies, many of which are beyond the
control of the Company, and no assurance can be given that the forecasts will
be realized).

 

6.04        No
Material Adverse Effect.

 

Since December 31, 2004, no event or change has
occurred that has caused or evidences, either in any case or in the aggregate,
a Material Adverse Effect.

 

6.05        Ownership
of Property; Liens.

 

The Company and each of its Subsidiaries have good
title to, or leasehold interests in, all properties that are necessary for the
conduct of their respective businesses as now conducted and as proposed to be
conducted, free and clear of all Liens (other than Permitted Liens), except
where the failure to have such good title or leasehold interests could not,
individually or in the aggregate, reasonably be expected to have a Material
Adverse Effect.

 

6.06        Litigation.

 

Except as set forth in Schedule 6.06
annexed hereto, there are no actions, suits, proceedings, arbitrations or
governmental investigations (whether or not purportedly on behalf of the
Company or any of its Subsidiaries) at law or in equity, or before or by any
federal, state, municipal or other governmental department, commission, board,
bureau, agency or instrumentality, domestic or foreign (including any
Environmental Claims) that are pending or, to the knowledge of the Company,
threatened against or affecting the Company or any of its Subsidiaries that,
individually or in the aggregate (taking into consideration, among other
things, the ability of the Company and its Subsidiaries to obtain
indemnification in respect thereof from Persons that are willing and able to
honor any existing indemnification obligations with respect thereto), could
reasonably be expected to result in a Material Adverse Effect.  For the avoidance of doubt, if any actions,
suits, proceedings, arbitrations or governmental investigations identified on Schedule 6.06
annexed hereto shall result in a Material Adverse Effect, the Loan Parties
hereby agree that the Lenders shall be under no obligation to make any Loan and
the L/C Issuers shall be under no obligation to issue or extend any Letter of
Credit hereunder.

 

61

 

6.07        Taxes.

 

Each of the Company, each of its Subsidiaries and
each other corporation (each a “Consolidated Corporation”) with whom the
Company or any of its Subsidiaries joins in the filing of a consolidated return
has filed all Federal income tax returns and other material tax returns and
reports, domestic and foreign, required to be filed by it, and has paid all
material taxes, assessments, fees and other governmental charges levied or
imposed upon it or its respective properties, income or assets to the extent
the same have become due and payable, except those which are not yet delinquent
or which are being contested in good faith. 
Each of the Company, each of its Subsidiaries and each Consolidated
Corporation has paid, or has provided adequate reserves (in the good faith judgment
of the management of the Company) in accordance with GAAP (or, in the case of a
Foreign Subsidiary, appropriate reserves under generally accepted accounting
principles in the applicable jurisdiction), for the payment of, all such
material taxes, assessments, fees and charges relating to all prior taxable
years and the current taxable year of the Company, each of its Subsidiaries and
each Consolidated Corporation.  To the
best knowledge of the Company, there is no proposed tax assessment against the
Company, any of its Subsidiaries or any Consolidated Corporation that could
reasonably be expected to have a Material Adverse Effect.

 

6.08        Government
Regulation.

 

Neither the making of any extension of credit
hereunder, nor the use of any of the proceeds thereof, will violate the
provisions of Regulation T, U or X of the Board of Governors of the Federal
Reserve System.  None of the Company, any
Person Controlling the Company, or any Subsidiary (i) is a “holding
company,” or a “subsidiary company” of a “holding company,” or an “affiliate”
of a “holding company” or of a “subsidiary company” of a “holding company,”
within the meaning of the Public Utility Holding Company Act of 1935, or (ii) is
or is required to be registered as an “investment company” under the Investment
Company Act of 1940.

 

6.09        Employee
Benefit Plans.

 

(a)           The Company and each of its Subsidiaries is
in compliance with all applicable provisions of ERISA, the Internal Revenue
Code and other applicable federal, state or foreign law with respect to each
Plan, and has performed all of its obligations under each Plan, except to the
extent that failure to comply, individually or in the aggregate, could not
reasonably be expected to have a Material Adverse Effect.  The Company, each of its Subsidiaries and
each ERISA Affiliate has made all required contributions to any Plan subject to
Section 412 of the Internal Revenue Code, except to the extent that a
failure to do so could not, individually or in the aggregate, reasonably be
expected to have a Material Adverse Effect, and no application for a funding
waiver or an extension of any amortization period pursuant to Section 412
of the Internal Revenue Code has been made with respect to any Plan.

 

(b)           There are no pending or, to the best
knowledge of the Company, threatened claims, actions or lawsuits, or action by
any Governmental Authority, with respect to any Pension Plan which,
individually or in the aggregate, have resulted or could reasonably be expected
to result in a Material Adverse Effect.

 

(c)           (i) No ERISA Event has occurred or is
reasonably expected to occur; (ii) no Pension Plan has any Unfunded
Pension Liability in an amount which, individually or in the aggregate for all
Pension Plans (excluding for purposes of such computation any Pension Plans
with respect to which assets exceed benefit liabilities), could reasonably be
expected to have a Material Adverse Effect if such Pension Plan or Pension
Plans were then terminated, unless such Pension Plan is not reasonably likely
to be terminated; and (iii) neither the Company nor any of its
Subsidiaries nor any ERISA Affiliate has engaged in a transaction that could be
subject to Section 4069 or 4212(c) of ERISA that, individually or in
the aggregate, could reasonably be expected to have a Material Adverse Effect.

 

62

 

6.10        Environmental
Protection.

 

The Company and each of its Subsidiaries is in
compliance with all applicable Environmental Laws in respect of the conduct of
its business and the ownership of its property, except such noncompliance as
could not, individually or in the aggregate, reasonably be expected to have a
Material Adverse Effect.  Without
limiting the effect of the preceding sentence:

 

(a)           neither the Company nor any of its Subsidiaries
has received a complaint, order, citation, notice or other written
communication with respect to the existence or alleged existence of a violation
of, or liability arising under, any Environmental Law, the outcome of which,
individually or in the aggregate, could reasonably be expected to have a
Material Adverse Effect; and

 

(b)           to the best of the Company’s knowledge, there
are no environmental, health or safety conditions, in each case relating to
exposure to, or release or threatened release of, Hazardous Materials existing
or reasonably expected to exist at any real property owned, operated or leased
by the Company or any of its Subsidiaries, including off-site waste treatment
or disposal facilities used by the Company or its Subsidiaries, which could
reasonably be expected to require any construction or other capital costs or
clean-up obligations to be incurred prior to the Maturity Date in order to
assure compliance with any applicable Environmental Law, including provisions
regarding clean-up, to the extent that any of such conditions, construction or
other capital costs or clean-up obligations, individually or in the aggregate,
could reasonably be expected to have a Material Adverse Effect.

 

6.11        Disclosure.

 

All factual information (taken as a whole) furnished
by or on behalf of the Company or any of its Subsidiaries to the Administrative
Agent or any Lender in writing on or before the Closing Date (including any
such information contained in the Confidential Information Memorandum or in any
Loan Document or any other document, certificate or written statement furnished
to the Lenders by or on behalf of the Company or any of its Subsidiaries) for
use in connection with the transactions contemplated by this Agreement is true
and correct in all material respects and does not omit to state a material fact
necessary in order to make the statements contained herein and therein, taken
as a whole, not misleading at such time in light of the circumstances in which
the same were made, it being understood that, for purposes of this Section 6.11,
such factual information does not include projections and pro forma financial
information.  Any projections and pro
forma financial information contained in such materials are based upon good
faith estimates and assumptions believed by the Company to be reasonable at the
time made, it being recognized by the Lenders that such projections as to
future events are not to be viewed as facts and that actual results during the
period or periods covered by any such projections may differ from the projected
results.

 

6.12        Representations
as to Foreign Obligors.

 

The Company and each Foreign Obligor represents and
warrants to the Administrative Agent and the Lenders that:

 

(a)           Such Foreign Obligor is subject to civil and commercial Laws with
respect to its obligations under this Agreement and the other Loan Documents to
which it is a party (collectively as to such Foreign Obligor, the “Applicable
Foreign Obligor Documents”), and the execution, delivery and performance by
such Foreign Obligor of the Applicable Foreign Obligor Documents constitute and
will constitute private and commercial acts and not public or governmental
acts.  Neither such Foreign Obligor nor
any of its property has any immunity from

 

63

 

jurisdiction of any court or from any legal process
(whether through service or notice, attachment prior to judgment, attachment in
aid of execution, execution or otherwise) under the laws of the jurisdiction in
which such Foreign Obligor is organized and existing in respect of its
obligations under the Applicable Foreign Obligor Documents.

 

(b)           The Applicable Foreign Obligor Documents are in proper legal form under
the Laws of the jurisdiction in which such Foreign Obligor is organized and
existing for the enforcement thereof against such Foreign Obligor under the
Laws of such jurisdiction, and to ensure the legality, validity,
enforceability, priority or admissibility in evidence of the Applicable Foreign
Obligor Documents.  It is not necessary
to ensure the legality, validity, enforceability, priority or admissibility in
evidence of the Applicable Foreign Obligor Documents that the Applicable
Foreign Obligor Documents be filed, registered or recorded with, or executed or
notarized before, any court or other authority in the jurisdiction in which
such Foreign Obligor is organized and existing or that any registration charge
or stamp or similar tax be paid on or in respect of the Applicable Foreign
Obligor Documents or any other document, except for (i) any such filing,
registration, recording, execution or notarization as has been made or is not
required to be made until the Applicable Foreign Obligor Document or any other
document is sought to be enforced and (ii) any charge or tax as has been
timely paid.

 

(c)           There is no tax, levy, impost, duty, fee, assessment or other
governmental charge, or any deduction or withholding, imposed by any
Governmental Authority in or of the jurisdiction in which such Foreign Obligor
is organized and existing either (i) on or by virtue of the execution or
delivery of the Applicable Foreign Obligor Documents or (ii) on any
payment to be made by such Foreign Obligor pursuant to the Applicable Foreign
Obligor Documents, except as has been disclosed to the Administrative Agent.

 

(d)           The execution, delivery and performance of the Applicable Foreign
Obligor Documents executed by such Foreign Obligor are, under applicable
foreign exchange control regulations of the jurisdiction in which such Foreign
Obligor is organized and existing, not subject to any notification or
authorization except (i) such as have been made or obtained or (ii) such
as cannot be made or obtained until a later date (provided that any
notification or authorization described in clause (ii) shall be made
or obtained as soon as is reasonably practicable).

 

ARTICLE VII

AFFIRMATIVE COVENANTS

 

The Company covenants and agrees that, so long as
any of the Commitments hereunder shall remain in effect and until payment in
full of all of the Loans and other Obligations and the cancellation or
expiration of all Letters of Credit, unless Required Lenders shall otherwise
give prior written consent, the Company shall perform, and shall cause each of
its Subsidiaries to perform, all covenants in this Article VII.

 

7.01        Financial
Statements and Other Reports.

 

The Company will deliver to the Administrative Agent
and each Lender, in form and detail satisfactory to the Administrative Agent
and the Required Lenders:

 

(a)           (i) no later than the date on which such
financial statements are filed with the SEC but in any event no later than 45
days after the end of each of the first three fiscal quarters of each fiscal
year, the consolidated balance sheet of the Company, its Subsidiaries and its
Unrestricted Subsidiaries as at the

 

64

 

end
of the first three fiscal quarters of each fiscal year and the related
consolidated statements of income, stockholders’ equity and cash flows of the
Company, its Subsidiaries and its Unrestricted Subsidiaries for such fiscal
quarter and for the period from the beginning of the then current fiscal year
to the end of such fiscal quarter, and (ii) promptly when available but in
any event no later than 45 days after the end of each of the first three fiscal
quarters of each fiscal year, the consolidated balance sheet of the Company and
its Subsidiaries as at the end of each fiscal quarter and the related
consolidated statements of income, stockholders’ equity and cash flows of the
Company and its Subsidiaries for such fiscal quarter and for the period from
the beginning of the then current fiscal year to the end of such fiscal
quarter, setting forth in each case (under both clauses (i) and (ii) above)
in comparative form the corresponding figures for the corresponding periods of
the previous fiscal year, all in reasonable detail and certified (in the case
of both clauses (i) and (ii) above) by the chief financial officer of
the Company that they fairly present, in all material respects, the financial
condition of the Company, its Subsidiaries and its Unrestricted Subsidiaries or
the Company and its Subsidiaries, as the case may be, as at the dates indicated
and the results of their operations and their cash flows for the periods
indicated, subject to changes resulting from audit and normal year-end
adjustments;

 

(b)           (i) no later than the date on which such
financial statements are filed with the SEC and in any event no later than 90
days after the end of each fiscal year, the audited consolidated balance sheet
of the Company, its Subsidiaries and its Unrestricted Subsidiaries as at the
end of each fiscal year and the related consolidated statements of income,
stockholders’ equity and cash flows of the Company, its Subsidiaries and its
Unrestricted Subsidiaries for such fiscal year, (ii) promptly when
available but in any event no later than 90 days after the end of each fiscal
year, the audited consolidated balance sheet of the Company and its
Subsidiaries as at the end of such fiscal year and the related consolidated
statements of income, stockholders’ equity and cash flows of the Company and
its Subsidiaries for such fiscal year, setting forth in each case (under both
clauses (i) and (ii) above) in comparative form the corresponding
figures for the previous fiscal year, all in reasonable detail and certified
(in the case of both clauses (i) and (ii) above) by the chief
financial officer of the Company that they fairly present, in all material
respects, the financial condition of the Company and its Subsidiaries as at the
end of such fiscal year and the results of their operations and their cash
flows for such fiscal year and (iii) in the case of both clauses (i) and
(ii) above, a report thereon of a firm of independent certified public
accountants of recognized national standing selected by the Company, which
report shall be unqualified as to the scope of audit or as to the going concern
status of the Company, its Subsidiaries and its Unrestricted Subsidiaries or
the Company and its Subsidiaries, as the case may be (in either case, taken as
a whole), and shall state that such consolidated financial statements fairly
present, in all material respects, the consolidated financial condition of the
Company, its Subsidiaries and its Unrestricted Subsidiaries or the Company and
its Subsidiaries, as the case may be, as at the end of such fiscal year and the
results of their operations and their cash flows for such fiscal year in
conformity with GAAP applied on a basis consistent with prior years (except as
otherwise disclosed in such financial statements) and that the examination by
such accountants in connection with such consolidated financial statements has
been made in accordance with generally accepted auditing standards;

 

(c)           together with each delivery of financial
statements of the Company and its Subsidiaries pursuant to subdivisions (a) and
(b) above, (i) an Officer’s Certificate of the Company stating that
the applicable Responsible Officer does not have knowledge of the existence, as
at the date of such Officer’s Certificate, of any condition or event that
constitutes a Default or Event of Default, or, if any such condition or event
exists, specifying the nature and period of existence thereof and what action
the Company has taken, is taking and proposes to take with respect thereto; (ii) a
Compliance Certificate demonstrating in reasonable detail compliance during and
at the end of the applicable accounting periods with the covenants set forth in
Section 8.05 and with any specific dollar amounts specified in
respect of any restrictions contained in any other provisions of Article VIII;
and (iii) in the event the identity of any of the Subsidiaries or
Unrestricted Subsidiaries of the Company has changed since the Closing Date
(or, if

 

65

 

applicable,
since the date of the most recent Officer’s Certificate delivered to Lenders in
accordance with this clause (c)), an Officer’s Certificate setting forth such
change;

 

(d)           together with each delivery of consolidated
financial statements of the Company and its Subsidiaries pursuant to Section 7.01(b) above,
a written statement by the independent certified public accountants giving the
report thereon stating whether, in connection with their audit examination, any
condition or event that constitutes an Event of Default under Section 8.05
has come to their attention and, if such a condition or event has come to their
attention, specifying the nature thereof, except to the extent that the
delivery of such statement would be prohibited by professional auditing
standards applicable to such matters;

 

(e)           promptly after the transmission thereof by
the Company or any of its Subsidiaries to the SEC, copies of any filings on Form 10-K,
10-Q, or 8-K and any effective registration statements (and, upon the
effectiveness thereof, any material amendments thereto) filed with the SEC (but
not any exhibits to any such registration statement or amendment (except as
provided below) or any registration statement on Form S-8), and copies of
all financial statements, proxy statements, notices and reports that the
Company or any of its Subsidiaries actually sends to the holders of any
publicly-issued securities of the Company or any of its Subsidiaries (including
the Subordinated Indebtedness) in their capacity as such holders (in each case
to the extent not theretofore delivered to Lenders pursuant to this Agreement
and in each case including, to the extent requested by Administrative Agent,
any schedules and exhibits thereto), in each case as so transmitted to the SEC;

 

(f)            promptly upon any Responsible Officer of the
Company obtaining actual knowledge of (i) any condition or event that
constitutes a Default or an Event of Default or (ii) any acceleration,
redemption or purchase demands or notices provided by the trustee for, or any
event of default under, any Subordinated Indebtedness, a written notice
specifying the nature and period of existence of such condition or event or
specifying the notice given by such trustee or the nature of such event of
default, and what action the Company has taken, is taking and proposes to take
with respect thereto;

 

(g)           promptly upon any Responsible Officer of the
Company obtaining actual knowledge of (i) the institution of any action,
suit, proceeding (whether administrative, judicial or otherwise), governmental
investigation or arbitration against or affecting the Company or any of its
Subsidiaries or any property of the Company or any of its Subsidiaries
(collectively, “Proceedings”) not previously disclosed in writing by the
Company to Lenders or any material development in any Proceeding that, in any
such case, could reasonably be expected to give rise to a Material Adverse
Effect, written notice thereof together with such other information as may be
reasonably available to the Company to enable Lenders and their counsel to
evaluate such matters;

 

(h)           promptly upon any Responsible Officer of the
Company obtaining knowledge of the occurrence or forthcoming occurrence of any
ERISA Event, a written notice specifying the nature thereof and what action the
Company, any of its Subsidiaries or any of their respective ERISA Affiliates
has taken, is taking or proposes to take with respect thereto; promptly upon
receipt thereof, copies of any notice received by the Company, any of its
Subsidiaries or any of their respective ERISA Affiliates from the Internal
Revenue Service, the Department of Labor or the PBGC or from a Multiemployer
Plan sponsor concerning any ERISA Event; concurrently with the delivery of such
notices to the PBGC, to the extent not otherwise delivered to Administrative
Agent under this Agreement, copies of all notices delivered to the PBGC
pursuant to Sections 3.3, 3.4 and 4.4 of the Settlement Agreement, effective as
of May 14, 1997, between Company and the PBGC; promptly upon execution
thereof, copies of all amendments, modifications, waivers or supplements to the
PBGC Agreements;

 

66

 

(i)            as soon as practicable and in any event no
later than 60 days after the beginning of each fiscal year, consolidated
operating and related budgets for the Company and its Subsidiaries for each
fiscal quarter of such fiscal year, in reasonable detail as customarily
prepared by management of the Company for its internal use and setting forth an
explanation of the principal assumptions on which such budgets are based;

 

(j)            promptly upon any Responsible Officer of the
Company obtaining knowledge of any one or more of the following environmental
matters the existence of which, either individually or when aggregated with all
other such matters, would reasonably be expected to result in a Material
Adverse Effect, a written notice specifying in reasonable detail the nature
thereof:

 

(i)            any pending or threatened Environmental Claim
against the Company or any of its Subsidiaries or any land, buildings and
improvements owned or leased by the Company or any of its Subsidiaries (but
excluding all operating fixtures and equipment, whether or not incorporated
into improvements) (collectively, “Real Estate”);

 

(ii)           any condition or occurrence that (x) results in noncompliance by the
Company or any of its Subsidiaries with any applicable Environmental Law or (y)
could reasonably be anticipated to form the basis of an Environmental Claim against
the Company or any of its Subsidiaries or any Real Estate;

 

(iii)          any condition or occurrence on any Real Estate that could reasonably be
anticipated to cause such Real Estate to be subject to any restrictions on the
ownership, occupancy, use or transferability of such Real Estate under any
Environmental Law; or

 

(iv)          the taking of any removal or remedial action in response to the actual
or alleged presence of any Hazardous Material on any Real Estate;

 

(k)           promptly upon any Responsible Officer of the
Company obtaining actual knowledge thereof, written notice of:

 

(i)            any announcement by Moody’s or S&P of any
change in a Debt Rating;

 

(ii)           any change in accounting policies or financial reporting practices by
the Company or any Subsidiary that has a material impact on the consolidated
financial statements of the Company and its Subsidiaries;

 

(iii)          of any matter that has resulted or could reasonably be expected to
result in a Material Adverse Effect, including (A) breach or non-performance
of, or any default under, a Contractual Obligation of the Company or any
Subsidiary; or (B) any dispute, litigation, investigation, proceeding or
suspension between the Company or any Subsidiary and any Governmental
Authority; and

 

(l)            with reasonable promptness, such other
information and data with respect to the Company or any of its Subsidiaries as
from time to time may be reasonably requested by the Administrative Agent on
its own behalf or on behalf of Required Lenders.

 

Each notice pursuant to this Section shall be
accompanied by a statement of a Responsible Officer of the Company setting
forth details of the occurrence referred to therein and stating what action the
Company has taken and proposes to take with respect thereto.  Each notice pursuant to this Section

 

67

 

shall
describe with particularity any and all provisions of this Agreement and any
other Loan Document that have been breached.

 

Documents required to be delivered pursuant to Section 7.01(a) or
(b) or Section 7.01(e) (to the extent any such
documents are included in materials otherwise filed with the SEC) may be
delivered electronically and if so delivered, shall be deemed to have been
delivered on the date (i) on which the Company posts such documents, or
provides a link thereto on the Company’s website on the Internet at the website
address listed on Schedule 11.02; or (ii) on which such
documents are posted on the Company’s behalf on an Internet or intranet
website, if any, to which each Lender and the Administrative Agent have access
(whether a commercial, third-party website or whether sponsored by the
Administrative Agent); provided that: (A) the Company shall deliver
paper copies of such documents to the Administrative Agent or any Lender that
requests the Company to deliver such paper copies until a written request to
cease delivering paper copies is given by the Administrative Agent or such
Lender and (B) the Company shall notify the Administrative Agent and each
Lender (by telecopier or electronic mail) of the posting of any such documents
and provide to the Administrative Agent by electronic mail electronic versions
(i.e., soft copies) of such documents. 
Notwithstanding anything contained herein, in every instance the Company
shall be required to provide paper copies of the Compliance Certificates
required by Section 7.01(c) to the Administrative Agent.  Except for such Compliance Certificates, the
Administrative Agent shall have no obligation to request the delivery or to
maintain copies of the documents referred to above, and in any event shall have
no responsibility to monitor compliance by the Company with any such request
for delivery, and each Lender shall be solely responsible for requesting
delivery to it or maintaining its copies of such documents.

 

Each Borrower hereby acknowledges that (a) the
Administrative Agent and/or the Joint Lead Arrangers will make available to the
Lenders and the L/C Issuer materials and/or information provided by or on
behalf of such Borrower hereunder (collectively, “Borrower Materials”)
by posting the Borrower Materials on IntraLinks or another similar electronic
system (the “Platform”) and (b) certain of the Lenders may be “public-side”
Lenders (i.e., Lenders that do not wish to
receive material non-public information with respect to any Borrower or its
securities) (each, a “Public Lender”). 
Each Borrower hereby agrees that (w) all Borrower Materials that are to
be made available to Public Lenders shall be clearly and conspicuously marked “PUBLIC”
which, at a minimum, shall mean that the word “PUBLIC” shall appear prominently
on the first page thereof; (x) by marking Borrower Materials “PUBLIC,” the
Borrowers shall be deemed to have authorized the Administrative Agent, the
Joint Lead Arranger, the L/C Issuer and the Lenders to treat such Borrower
Materials as not containing any material non-public information with respect to
the Borrowers or their respective securities for purposes of United States
Federal and state securities laws (provided, however, that to the
extent such Borrower Materials constitute Information, they shall be treated as
set forth in Section 11.07); (y) all Borrower Materials marked “PUBLIC”
are permitted to be made available through a portion of the Platform designated
“Public Investor;” and (z) the Administrative Agent and the Joint Lead
Arrangers shall be entitled to treat any Borrower Materials that are not marked
“PUBLIC” as being suitable only for posting on a portion of the Platform not
designated “Public Investor.”

 

7.02        Preservation
of Existence, Etc.

 

Except as permitted under Section 8.06,
the Company will, and will cause each of its Subsidiaries to, at all times
preserve and keep in full force and effect (i) its legal existence
(except, in the case of a Subsidiary of the Company only, to the extent that
failure to do so could not reasonably be expected to have a Material Adverse
Effect) and (ii) all rights and franchises material to its business
(except, in any case, to the extent that failure to do so could not reasonably
be expected to have a Material Adverse Effect).

 

68

 

7.03        Payment
of Taxes and Claims; Tax Consolidation.

 

The Company will, and will cause each of its
Subsidiaries to, pay all material taxes, assessments and other governmental
charges imposed upon it or any of its properties or assets or in respect of any
of its income, businesses or franchises before any material penalty accrues
thereon, and all lawful material claims (including claims for labor, services,
materials and supplies) for sums that have become due and payable and that by
law have become or could reasonably be expected to become a material Lien upon
any of the properties or assets of the Company or any of its Subsidiaries; provided
that no such charge or claim need be paid if it is being contested in good
faith and by proper proceedings, so long as it has maintained adequate reserves
(in the good faith judgment of the Company or such Subsidiary) with respect
thereto in accordance with GAAP.

 

7.04        Maintenance
of Properties; Insurance.

 

(a)           (i) The Company will, and will cause
each of its Subsidiaries to, maintain or cause to be maintained in good repair,
working order and condition, ordinary wear and tear excepted, all material
properties used or useful in the business of the Company and its Subsidiaries
(including all Intellectual Property) and (ii) from time to time will make
or cause to be made all appropriate repairs, renewals and replacements thereof,
in each case except to the extent that failure to do so could not reasonably be
expected to have a Material Adverse Effect.

 

(b)           The Company will, and will cause each of its
Material Subsidiaries to, at all times maintain in full force and effect, with
insurance companies which the Company believes (in the good faith judgment of
the Company’s management) are financially sound and responsible at the time the
relevant coverage is placed or renewed, insurance in at least such amounts and
against at least such risks (and with such risk retentions) as are usually insured
against in the same general area by companies engaged in the same or a similar
business.  The Company shall furnish to
Lenders, upon written request from the Administrative Agent, information
presented in reasonable detail as to the insurance so carried.

 

7.05        Inspection Rights.

 

The Company shall, and shall cause each of its
Material Subsidiaries to, permit any authorized representatives designated by
the Administrative Agent or Required Lenders to visit and inspect any of the
properties of the Company or of any of its Material Subsidiaries, to inspect,
copy and make abstracts from its and their financial and accounting records,
and to discuss its and their affairs, finances and accounts with its and their
officers and independent public accountants (provided that the Company may, if
it so chooses, be present at or participate in any such discussion), all upon
reasonable notice and at such reasonable times during normal business hours and
as often as may reasonably be requested.

 

7.06        Compliance with Laws.

 

The Company shall comply, and shall cause each of
its Subsidiaries to comply, in all material respects, with the requirements of
all applicable Laws, rules, regulations and orders (including all Environmental
Laws) of any governmental authority having jurisdiction over it, except such as
may be contested in good faith or as to which a bona fide dispute may exist and
except to the extent that noncompliance therewith could not reasonably be
expected to cause, individually or in the aggregate, a Material Adverse Effect.

 

69

 

7.07        Additional
Subsidiary Guarantors.

 

In the event that any Person (other than a
Restricted Acquisition Subsidiary or a Subsidiary that has incurred
Indebtedness permitted under Section 8.01(g)(ii)) becomes a
Domestic Subsidiary after the Closing Date, the Company will promptly notify
the Administrative Agent of that fact and cause such Domestic Subsidiary to
promptly thereafter (and in any event with 30 days) (a) execute and
deliver to the Administrative Agent a Joinder Agreement and (b) deliver to
the Administrative Agent documents of the types referred to in clauses (ii), (iii) and
(iv) of Section 5.01(a) and favorable opinions of counsel
to such Person (which shall cover, among other things, the legality, validity,
binding effect and enforceability of the documentation referred to in clause
(a)), all in form, content and scope reasonably satisfactory to the
Administrative Agent.

 

7.08        Transactions with Affiliates.

 

The Company shall, and shall cause each of its
Subsidiaries to, conduct all transactions with any of its Affiliates (other
than the Company or any of its Subsidiaries) upon terms that are substantially
as favorable to Company or such Subsidiary as it would obtain in a comparable
arm’s-length transaction with a Person not an Affiliate of the Company or such
Subsidiary; provided that the foregoing restrictions shall not apply to (a) reasonable
and customary fees paid to members of the board of directors of the Company and
its Subsidiaries, (b) transactions otherwise expressly permitted hereunder
between the Company or any of its Subsidiaries and any such Affiliate, and (c) transactions
between the Company or any of its Subsidiaries and any special purpose entity
established in connection with an Accounts Receivable Facility.

 

7.09        Conduct of Business.

 

From and after the Closing Date, the Company shall,
and shall cause its Subsidiaries (taken as a whole) to, engage primarily in (i) the
lines of business carried on by the Company and its Subsidiaries on the Closing
Date and (ii) other businesses or activities that are reasonably similar
thereto or that constitute a reasonable extension, development or expansion
thereof or that are ancillary or reasonably related thereto.

 

7.10        Fiscal Year.

 

The Company shall maintain its fiscal year-end at December 31
of each year; provided that the Company may, upon prior written notice
to the Administrative Agent, change such fiscal year-end.

 

7.11        Use
of Proceeds.

 

The Borrowers shall use the proceeds of the Credit
Extensions for general corporate purposes not in contravention of any Law or of
any Loan Document.

 

ARTICLE VIII

NEGATIVE COVENANTS

 

The Company covenants and agrees that, so long as
any of the Commitments hereunder shall remain in effect and until payment in
full of all of the Loans and other Obligations and the cancellation or
expiration of all Letters of Credit, unless Required Lenders shall otherwise
give prior written consent, the Company shall perform, and shall cause each of
its Subsidiaries to perform, all covenants in this Article VIII.

 

70

 

8.01        Indebtedness.

 

The Company shall not, and
shall not permit any of its Subsidiaries to, directly or indirectly, create,
incur, assume or guaranty, or otherwise become or remain directly or indirectly
liable with respect to, any Indebtedness, except:

 

(a)           Each Loan Party may become and remain liable with respect to the
Obligations;

 

(b)           the Company and its Subsidiaries may become and remain liable with
respect to Indebtedness in respect of Capital Leases in an aggregate amount not
to exceed at any time $50,000,000;

 

(c)           the Company may become and remain liable with respect to Indebtedness
to any of its Subsidiaries, and any Subsidiary of the Company may become and
remain liable with respect to Indebtedness to the Company or any other
Subsidiary of the Company;

 

(d)           the Company and its Subsidiaries, as applicable, may remain liable with
respect to Indebtedness described in Schedule 8.01 annexed hereto;

 

(e)           the Company and its Subsidiaries may become and remain liable with
respect to Indebtedness (i) incurred within 270 days of the acquisition,
construction or improvement of fixed or capital assets to finance the
acquisition, construction or improvement of such fixed or capital assets or (ii) otherwise
incurred in respect of capital expenditures;

 

(f)            any Person that becomes a Restricted
Acquisition Subsidiary (i) may remain liable with respect to (X)
Indebtedness of such Person existing at the time of consummation of a Permitted
Acquisition pursuant to which such Person becomes a Subsidiary of the Company
or (Y) Indebtedness secured by assets acquired by such Person in a Permitted
Acquisition at the time of consummation of such Permitted Acquisition; provided
that such Indebtedness was not incurred in contemplation of the Permitted
Acquisition referred to in clause (X) or the acquisition of such assets
referred to in clause (Y), as the case may be, and (ii) may become and
remain liable with respect to Indebtedness incurred to finance the Permitted
Acquisition pursuant to which such Person becomes a Subsidiary of the Company;

 

(g)           the Company and its Subsidiaries (i) may remain liable with
respect to (X) in the case of a Subsidiary, Indebtedness of such
Subsidiary existing at the time of consummation of a Permitted Acquisition
pursuant to which such Person becomes a Subsidiary of the Company or
(Y) Indebtedness secured by assets acquired by such Person in a Permitted
Acquisition at the time of consummation of such Permitted Acquisition; provided
that such Indebtedness was not incurred in contemplation of the Permitted
Acquisition referred to in clause (X) or the acquisition of such assets
referred to in clause (Y), as the case may be, and (ii) may become and
remain liable with respect to Indebtedness incurred to finance a Permitted
Acquisition consummated by such Person, including a Permitted Acquisition
pursuant to which such Person becomes a Subsidiary of the Company; provided
that the aggregate outstanding principal amount of all Indebtedness permitted
pursuant to this Section 8.01(g) shall at no time exceed
$200,000,000;

 

(h)           the Company and its Subsidiaries may become and remain liable with
respect to obligations (contingent or otherwise) of the Company or any
Subsidiary existing or arising under any Swap Contract, provided that (i) such
obligations are (or were) entered into by such Person in the ordinary course of
business for the purpose of directly mitigating risks associated with
liabilities, commitments, investments, assets, or property held or reasonably
anticipated by such

 

71

 

Person, or changes in the value of securities issued
by such Person, and not for purposes of speculation or taking a “market view;”
and (ii) such Swap Contract does not contain any provision exonerating the
non-defaulting party from its obligation to make payments on outstanding
transactions to the defaulting party (excluding customary setoff provisions);

 

(i)            the Company and its Subsidiaries may extend
the maturity of, and may become and remain liable with respect to Indebtedness
incurred to refinance, any Indebtedness permitted under clauses (d), (e),
(f), (g) and (m); provided that (i) the principal amount of
any such Indebtedness is not increased above the principal amount thereof
outstanding immediately prior to such extension or refinancing and (ii) the
direct and contingent obligors with respect to such Indebtedness are not
changed as a result of such extension or refinancing;

 

(j)            the Company and its Subsidiaries may enter
into and remain liable with respect to commodity consignment arrangements in
the ordinary course of business in an aggregate amount not to exceed at any
time $20,000,000;

 

(k)           the Company and its Subsidiaries may become and remain liable with
respect to non-recourse Indebtedness and obligations of the Company and its
Subsidiaries in connection with any Accounts Receivable Facility in an
aggregate outstanding principal amount not to exceed $100,000,000 at any time;

 

(l)            the Company and its Subsidiaries may become
and remain liable with respect to other Indebtedness in an aggregate principal
amount not to exceed $200,000,000 at any time outstanding;

 

(m)          the Company and its Subsidiaries may become and remain liable with
respect to Guarantees with respect to Indebtedness permitted under clauses (a) through
(l) of this Section 8.01; provided that the aggregate
principal amount of Guarantees with respect to Indebtedness provided for the
benefit of Third Parties shall not exceed $25,000,000; and

 

(n)           the Company and its Subsidiaries may become and remain liable with
respect to Guarantees in respect of customary indemnification and purchase
price adjustment obligations incurred in connection with Asset Sales or other
sales of assets permitted hereunder.

 

8.02        Liens.

 

The Company shall not, and shall not permit any of
its Subsidiaries to, directly or indirectly, create, incur, assume or permit to
exist any Lien on or with respect to any property or asset of any kind
(including any document or instrument in respect of goods or accounts
receivable) of the Company or any of its Subsidiaries, whether now owned or
hereafter acquired, except:

 

(a)           Permitted Encumbrances;

 

(b)           Liens existing on the Closing Date securing Indebtedness in an
aggregate principal amount not to exceed $20,000,000;

 

(c)           Liens placed on property, plant or equipment used in the ordinary
course of business of the Company or any of its Subsidiaries to secure
Indebtedness incurred to pay all or a portion of the purchase price thereof; provided
that (a) the Lien encumbering such property, plant or equipment does not
encumber any other asset of the Company or any of its Subsidiaries and (b) the
Indebtedness secured thereby is permitted under Section 8.01(e);

 

72

 

(d)           (i) Liens encumbering assets of a Restricted Acquisition
Subsidiary that are granted to secure Indebtedness permitted under Section 8.01(f) at
the time such Indebtedness is assumed by such Restricted Acquisition
Subsidiary; provided that such Liens are not granted in contemplation of
a Permitted Acquisition pursuant to which such Person becomes a Subsidiary of
the Company, and (ii) Liens encumbering the capital stock of a Restricted
Acquisition Subsidiary that are granted to secure Indebtedness permitted under Section 8.01(f)(ii);

 

(e)           (i) Liens encumbering assets of a Subsidiary of the Company that
are granted to secure Indebtedness permitted under Section 8.01(g) at
the time such Indebtedness is originally incurred and (ii) Liens
encumbering the capital stock of a Subsidiary of the Company that are granted
to secure Indebtedness permitted under Section 8.01(g)(ii); provided
that the aggregate outstanding principal amount of Indebtedness secured by all
Liens permitted pursuant to this Section 8.02(e) shall at no
time exceed $125,000,000, except to the extent that such Subsidiary has granted
a Lien on the assets securing any portion of such Indebtedness in excess of
$125,000,000 on an equal and ratable basis to the Administrative Agent on
behalf of the Lenders to secure the Obligations;

 

(f)            Liens on commodities subject to any
arrangement permitted under Section 8.01(j); and

 

(g)           Other Liens securing Indebtedness in an aggregate principal amount not
to exceed 5% of Consolidated Total Assets at any time outstanding.

 

8.03        Investments;
Joint Ventures.

 

The Company shall not, and shall not permit any of
its Subsidiaries to, directly or indirectly, make or own any Investment in any
Person, including any Joint Venture, except:

 

(a)           the Company and its Subsidiaries may make and own Investments in Cash
Equivalents;

 

(b)           the Company and its Subsidiaries may make loans and advances to
officers, directors and employees of the Company or any of its Subsidiaries (i) to
finance the purchase of capital stock of the Company and (ii) in an
aggregate principal amount not to exceed $5,000,000 at any time outstanding for
additional purposes not contemplated by the foregoing clause (i);

 

(c)           Permitted Acquisitions;

 

(d)           the Company and its Subsidiaries may make and own Investments
consisting of any non-cash proceeds received by the Company or any of its
Subsidiaries in connection with any Asset Sale permitted under Section 8.06(e);

 

(e)           the Company and its Subsidiaries may continue to own the Investments
owned by them and described in Schedule 8.03 annexed hereto and the
Company and its Subsidiaries may make and own Investments purchased with the
proceeds of the sale of any Investments permitted under this Section 8.03(e);

 

(f)            the Company and its Subsidiaries may make and
own Investments in special purpose entities established to purchase accounts
receivable from the Company or any of its

 

73

 

Subsidiaries pursuant to an Accounts Receivable
Facility permitted pursuant to Section 8.01(k); and

 

(g)           the Company and its Subsidiaries may make and own Investments
(collectively, “Unrestricted Investments”) in addition to those
permitted under clauses (a) through (f) above, including Investments
in Restricted Acquisition Subsidiaries and in Unrestricted Subsidiaries, as
follows: (i) Unrestricted Investments in an aggregate amount not to exceed
at any time (1) $50,000,000 for all such Unrestricted Investments in
Unrestricted Subsidiaries or (2) $100,000,000 for all such Unrestricted
Investments (including all such Unrestricted Investments in Restricted
Acquisition Subsidiaries and Unrestricted Subsidiaries) and (ii) Unrestricted
Investments in addition to the Unrestricted Investments permitted under the
preceding clause (i); provided that after giving effect to any such
additional Unrestricted Investment pursuant to this clause (ii) the
Available Amount Usage shall not exceed the Available Amount.

 

8.04        Restricted Payments.

 

The Company shall not, and shall not permit any of
its Subsidiaries to, directly or indirectly, declare, order, pay, make or set
apart any sum for any Restricted Payment except that, so long as no Default or
Event of Default has occurred and is continuing at the time of any action
described below or would be caused thereby, the Company may:

 

(a)           repurchase shares of its capital stock (together with options or
warrants in respect of any thereof) held by officers, directors and employees
of the Company so long as such repurchase is pursuant to, and in accordance
with the terms of, management and/or employee stock plans, stock subscription
agreements or shareholder agreements;

 

(b)           purchase, redeem or otherwise acquire shares of common stock of the
Company or warrants or options to acquire any such shares with proceeds
received by the Company from the substantially concurrent equity contributions
or issuances of new shares of its common stock;

 

(c)           redeem or exchange, in whole or in part, any capital stock of the
Company for shares of another class of capital stock of the Company or rights
to acquire shares of such other class of capital stock; provided that
such other class of capital stock contains terms and provisions (taken as a
whole, and taking into account the relative amounts of the shares of each class
of capital stock involved in such redemption or exchange) that are at least as
advantageous to Lenders as those contained in the capital stock redeemed or
exchanged therefor; and

 

(d)           make other Restricted Payments; provided that on the date (the “Declaration
Date”) of declaration of any dividend in respect of the Company’s
outstanding capital stock pursuant to the terms of this clause (d) or the
making of any other Restricted Payment pursuant to the terms of this clause (d),
the aggregate amount of any such Restricted Payments, when added to the
aggregate amount of all Restricted Payments previously declared or (without
duplication) paid by the Company pursuant to this clause (d) during the
period commencing on the Closing Date and ending on the Declaration Date does
not exceed the sum of $250,000,000 plus an amount equal to 50% of cumulative
Consolidated Net Income of the Company and its Subsidiaries for the period
commencing on the Closing Date and ending on the last day of the fiscal quarter
most recently ended.

 

74

 

8.05        Financial Covenants.

 

(a)           Consolidated Net Worth.  The
Company shall not permit Consolidated Net Worth at any time to be less than the
sum of (i) $400,000,000, increased on a cumulative basis as of the end of
each fiscal quarter of the Company, commencing with the fiscal quarter ending June 30,
2005 by (ii) an amount equal to 50% of the Consolidated Net Income, to the
extent positive with no deductions for losses, for the fiscal quarter then
ended plus an amount equal to 100% of the net cash proceeds from any Equity
Issuances.

 

(b)           Consolidated Interest Coverage Ratio.  The
Company shall not permit the Consolidated Interest Coverage Ratio as of the end
of any fiscal quarter of the Company to be less than 3.0 to 1.0

 

(c)           Consolidated Leverage Ratio.  The
Company shall not permit the Consolidated Leverage Ratio as of the end of any
fiscal quarter of the Company to be greater than (i) for any fiscal
quarter ending during the period from the Closing Date to and including December 31,
2006, 3.5 to 1.0 and (ii) for any fiscal quarter ending on and after March 31,
2007, 3.25 to 1.0.

 

All
calculations of financial covenants in this Section 8.05 (including
for purposes of determining the Applicable Rate) shall be made on a Pro Forma
Basis.

 

8.06        Fundamental
Changes; Asset Sales.

 

The Company shall not, and shall not permit any of
its Subsidiaries to, enter into any transaction of merger or consolidation, or
liquidate, wind up or dissolve itself (or suffer any liquidation or
dissolution), or convey, sell, lease or sub-lease (as lessor or sublessor),
transfer or otherwise dispose of, in one transaction or a series of
transactions, all or any part of its business, property or assets, whether now
owned or hereafter acquired, except:

 

(a)           any Subsidiary of the Company may be merged with or into the Company or
any other Subsidiary of the Company, and any Subsidiary of the Company may be
liquidated, wound up or dissolved, or all or any part of its business, property
or assets (including capital stock of any Subsidiary of the Company) may be
conveyed, sold, leased, transferred or otherwise disposed of, in one
transaction or a series of transactions, to the Company or any other Subsidiary
of the Company; provided that in the case of any such merger involving
the Company, the Company shall be the continuing or surviving corporation;

 

(b)           the Company or any Subsidiary may merge or consolidate with any Person
in connection with a Permitted Acquisition; provided that in the case of
any such merger involving the Company, the Company shall be the continuing or
surviving corporation;

 

(c)           the Company and its Subsidiaries may dispose of obsolete, worn out or
surplus property in the ordinary course of business and sell or discount
without recourse accounts receivable arising in the ordinary course of business
in connection with the compromise or collection thereof;

 

(d)           the Company and its Subsidiaries may sell or otherwise dispose of other
assets in transactions that do not constitute Asset Sales; and

 

(e)           the Company and its Subsidiaries may make Asset Sales of assets having
a fair value not in excess of $300,000,000 during the term of this Agreement; provided
that the consideration received in each such Asset Sale shall be in an amount
at least equal to the fair value of the assets being sold.

 

75

8.07        Amendment
of Certain Documents.

 

(a)           The Company shall not amend, modify or
change, nor shall it permit any Loan Party to amend, modify or change, its
Organizational Documents in any manner which could adversely affect the rights
of the Administrative Agent or the Lenders.

 

(b)           The Company shall not, and shall not permit
any of its Subsidiaries to, amend or otherwise change any of the terms of the
PBGC Agreements in any manner with respect to the granting, continuation or
termination of Liens on any of the assets of the Company or its Subsidiaries or
the priority of the PBGC or the Lenders with respect to any such Liens.

 

ARTICLE IX

EVENTS OF DEFAULT AND REMEDIES

 

9.01        Events of Default.

 

Any of the following shall constitute an Event of
Default:

 

(a)           Non-Payment.  (i) Failure by any
Borrower to pay any installment of principal of any Loan in the currency
required hereunder when due from such Borrower, whether at stated maturity, by
acceleration, by mandatory prepayment or otherwise or failure by any Borrower
to pay when due any L/C Obligation; or (ii) within five days after the
date due, failure by any Borrower to pay any interest on any Loan or on any L/C
Obligation; or (iii) failure by any Loan Party to pay any fee or any other
amount due from such Loan Party under this Agreement or under any other Loan
Document within five days after the date due; or

 

(b)           Cross-Default.  (i) Failure
of the Company or any of its Subsidiaries to pay when due any principal of or
interest on or any other amount payable in respect of one or more items of
Indebtedness (other than Indebtedness referred to in subsection (a) above)
with an aggregate principal amount of $30,000,000 or more beyond the end of any
grace or notice period provided therefor; or (ii) breach or default by the
Company or any of its Subsidiaries with respect to any other material term of (A) one
or more items of Indebtedness in the aggregate principal amount of $30,000,000
or (B) any loan agreement, mortgage, indenture or other agreement relating
to such item(s) of Indebtedness, if such breach or default continues after any
applicable grace or notice period provided therefor and the effect of such
breach or default is to cause, or to permit the holder or holders of that
Indebtedness (or a trustee on behalf of such holder or holders) to cause, that
Indebtedness to become or be declared due and payable prior to its stated
maturity or the stated maturity of any underlying obligation, as the case may
be; or

 

(c)           Specific Covenants.  Any
Loan Party fails to perform or observe any term, covenant or agreement
contained in any of Section 7.01(f) or Article VIII;
or

 

(d)           Representations and Warranties.  Any
representation, warranty, certification or other statement made by the Company
or any of its Subsidiaries in any Loan Document or in any statement or
certificate at any time given by the Company or any of its Subsidiaries in
writing pursuant hereto or thereto or in connection herewith or therewith shall
be false in any material respect on the date as of which made; or

 

76

 

(e)           Other Defaults.  Any
Loan Party shall default in the performance of or compliance with any term
contained in this Agreement or any of the other Loan Documents, other than any
such term referred to in any other subsection of this Article IX,
and such default shall not have been remedied or waived within 30 days after
receipt by the Company of notice from Administrative Agent or any Lender of
such default; or

 

(f)            Involuntary Bankruptcy; Appointment of
Receiver, Etc.  (i) A court having jurisdiction in the
premises shall enter a decree or order for relief in respect of the Company or
any of its Material Subsidiaries in an involuntary case under any Debtor Relief
Law, which decree or order is not stayed; or any other similar relief shall be
granted under any applicable federal, state or foreign law; or (ii) an
involuntary case shall be commenced against the Company or any of its Material
Subsidiaries under any Debtor Relied Law; or a decree or order of a court
having jurisdiction in the premises for the appointment of a receiver,
liquidator, sequestrator, trustee, custodian or other officer having similar
powers over the Company or any of its Material Subsidiaries, or over all or a
substantial part of its property, shall have been entered; or there shall have
occurred the involuntary appointment of an interim receiver, trustee or other
custodian of the Company or any of its Material Subsidiaries for all or a
substantial part of its property; or a warrant of attachment, execution or
similar process shall have been issued against any substantial part of the
property of the Company or any of its Material Subsidiaries, and any such event
described in this clause (ii) shall continue for 60 days unless dismissed
or discharged; or

 

(g)           Voluntary Bankruptcy; Appointment of
Receiver, Etc.  (i) The Company or any of its
Material Subsidiaries shall have an order for relief entered with respect to it
or commence a voluntary case under any Debtor Relief Law, or shall consent to
the entry of an order for relief in an involuntary case, or to the conversion
of an involuntary case to a voluntary case, under any such law, or shall
consent to the appointment of or taking possession by a receiver, trustee or
other custodian for all or a substantial part of its property; or the Company
or any of its Material Subsidiaries shall make any assignment for the benefit
of creditors; or (ii) the Company or any of its Material Subsidiaries
shall fail generally, or shall admit in writing its inability, to pay its debts
as such debts become due; or the board of directors of the Company or any of
its Material Subsidiaries (or any committee thereof) shall adopt any resolution
or otherwise authorize any action to approve any of the actions referred to in
clause (i) above or this clause (ii); or

 

(h)           Judgments and Attachments.  Any
money judgments, writs or warrants of attachment or similar processes involving
in the aggregate at any time an amount in excess of $30,000,000 (to the extent
such amount is not adequately covered by insurance as to which the insurance
company has not disputed coverage in writing) shall be entered or filed against
the Company or any of its Subsidiaries or any of their respective assets and
shall remain undischarged, unvacated or unstayed for a period of 60 days; or

 

(i)            ERISA.  An ERISA Event shall occur
with respect to a Pension Plan or Multiemployer Plan; or

 

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

 

(k)           Invalidity of Loan Documents.  At
any time after the execution and delivery thereof, (i) any material provision
of any Loan Document, at any time after its execution and delivery and for any
reason other than as expressly permitted hereunder or satisfaction in full of
all the Obligations, ceases to be in full force and effect; or (ii) any
Loan Party shall deny in writing its obligations under any Loan Document to
which it is a party.

 

77

 

9.02        Remedies
Upon Event of Default.

 

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

 

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

 

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

 

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

 

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

 

provided, however,
that upon the occurrence of an Event of Default under Section 9.01(f) or
an actual or deemed entry of an order for relief with respect to any Borrower
under the Debtor Relief Laws, the obligation of each Lender to make Loans and
any obligation of the L/C Issuer to make L/C Credit Extensions shall
automatically terminate, the unpaid principal amount of all outstanding Loans
and all interest and other amounts as aforesaid shall automatically become due
and payable, and the obligation of the Company to Cash Collateralize the L/C
Obligations as aforesaid shall automatically become effective, in each case
without further act of the Administrative Agent or any Lender.

 

9.03        Application of Funds.

 

After the exercise of remedies provided for in Section 9.02
(or after the Loans have automatically become immediately due and payable and
the L/C Obligations have automatically been required to be Cash Collateralized
as set forth in the proviso to Section 9.02), any amounts received
on account of the Obligations shall be applied by the Administrative Agent in
the following order:

 

First, to payment of that portion of the Obligations constituting fees,
indemnities, expenses and other amounts (including fees, charges and
disbursements of counsel to the Administrative Agent and amounts payable under Article III)
payable to the Administrative Agent in its capacity as such;

 

Second, to payment of that portion of the Obligations constituting fees,
indemnities and other amounts (other than principal, interest and Letter of
Credit Fees) payable to the Lenders and the L/C Issuer (including fees, charges
and disbursements of counsel to the respective Lenders and the L/C Issuer and
amounts payable under Article III), ratably among them in
proportion to the respective amounts described in this clause Second
payable to them;

 

Third, to payment of that portion of the Obligations constituting accrued
and unpaid Letter of Credit Fees and interest on the Loans, L/C Borrowings and
other Obligations, ratably among the Lenders and the L/C Issuer in proportion
to the respective amounts described in this clause Third payable to
them;

 

78

 

Fourth, to payment of that portion of the Obligations constituting unpaid
principal of the Loans and L/C Borrowings, ratably among the Lenders and the
L/C Issuer in proportion to the respective amounts described in this clause Fourth
held by them;

 

Fifth, to the Administrative Agent for the account of the L/C Issuer, to
Cash Collateralize that portion of L/C Obligations comprised of the aggregate
undrawn amount of Letters of Credit; and

 

Last, the balance, if any, after all of the Obligations have been
indefeasibly paid in full, to the Company or as otherwise required by Law.

 

Subject
to Section 2.03(c), amounts used to Cash Collateralize the
aggregate undrawn amount of Letters of Credit pursuant to clause Fifth
above shall be applied to satisfy drawings under such Letters of Credit as they
occur.  If any amount remains on deposit
as Cash Collateral after all Letters of Credit have either been fully drawn or
expired, such remaining amount shall be applied to the other Obligations, if
any, in the order set forth above.

 

ARTICLE X

ADMINISTRATIVE AGENT

 

10.01      Appointment
and Authority.

 

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

 

10.02      Rights as a Lender.

 

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

 

10.03      Exculpatory
Provisions.

 

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

 

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

 

(b)           shall not have any duty to take any discretionary action or exercise
any discretionary powers, except discretionary rights and powers expressly
contemplated hereby or by

 

79

 

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

 

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

 

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

 

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

 

10.04      Reliance by
Administrative Agent.

 

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

 

80

 

10.05      Delegation of Duties.

 

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

 

10.06      Resignation
of Administrative Agent.

 

The Administrative Agent may at any time give notice
of its resignation to the Lenders, the L/C Issuer and the Company.  Upon receipt of any such notice of
resignation, the Required Lenders shall have the right, with the consent of the
Company (not to be unreasonably withheld), unless an Event of Default shall
have occurred and is continuing, in which case the consent of the Company shall
not be required, to appoint a successor, which shall be a bank with an office
in the United States, or an Affiliate of any such bank with an office in the
United States.  If no such successor
shall have been so appointed by the Required Lenders and shall have accepted
such appointment within 30 days after the retiring Administrative Agent
gives notice of its resignation, then the retiring Administrative Agent may on
behalf of the Lenders and the L/C Issuer, appoint a successor Administrative
Agent meeting the qualifications set forth above subject to the consent of the
Company (not to be unreasonably withheld), unless an Event of Default shall
have occurred and is continuing, in which case the consent of the Company shall
not be required; provided that if the Administrative Agent shall notify
the Company and the Lenders that no qualifying Person has accepted such
appointment or has been approved by the Company and the Lenders, then such
resignation shall nonetheless become effective in accordance with such notice
and (1) the retiring Administrative Agent shall be discharged from its
duties and obligations hereunder and under the other Loan Documents and (2) all
payments, communications and determinations provided to be made by, to or
through the Administrative Agent shall instead be made by or to each Lender and
the L/C Issuer directly, until such time as the Required Lenders appoint a
successor Administrative Agent as provided for above in this Section.  Upon the acceptance of a successor’s
appointment as Administrative Agent hereunder, such successor shall succeed to
and become vested with all of the rights, powers, privileges and duties of the
retiring (or retired) Administrative Agent, and the retiring Administrative
Agent shall be discharged from all of its duties and obligations hereunder or
under the other Loan Documents (if not already discharged therefrom as provided
above in this Section).  The fees payable
by the Company to a successor Administrative Agent shall be the same as those
payable to its predecessor unless otherwise agreed between the Company and such
successor.  After the retiring
Administrative Agent’s resignation hereunder and under the other Loan
Documents, the provisions of this Article and Section 11.04
shall continue in effect for the benefit of such retiring Administrative Agent,
its sub-agents and their respective Related Parties in respect of any actions
taken or omitted to be taken by any of them while the retiring Administrative
Agent was acting as Administrative Agent.

 

Any resignation by Bank of America as Administrative
Agent pursuant to this Section shall also constitute its resignation as
L/C Issuer and Swing Line Lender.  Upon
the acceptance of a successor’s appointment as Administrative Agent hereunder, (a) such
successor shall succeed to and become vested with all of the rights, powers,
privileges and duties of the retiring L/C Issuer and Swing Line Lender, (b) the
retiring L/C Issuer and Swing Line Lender shall be discharged from all of their
respective duties and obligations hereunder or under the other Loan Documents,
and (c) the successor L/C Issuer shall issue letters of credit in
substitution for the Letters of Credit, if any, outstanding at the time of such
succession or make other arrangements satisfactory to the retiring L/C Issuer
to effectively assume the obligations of the retiring L/C Issuer with respect
to such Letters of Credit.

 

81

 

10.07      Non-Reliance
on Administrative Agent and Other Lenders.

 

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

 

10.08      No Other Duties, Etc.

 

Anything herein to the contrary notwithstanding,
none of the Joint Book Managers, Joint Lead Arrangers or Co-Arranger listed on
the cover page hereof shall have any powers, duties or responsibilities
under this Agreement or any of the other Loan Documents, except in its
capacity, as applicable, as the Administrative Agent, a Lender or the L/C
Issuer hereunder.

 

10.09      Administrative
Agent May File Proofs of Claim.

 

In case of the pendency of any receivership,
insolvency, liquidation, bankruptcy, reorganization, arrangement, adjustment,
composition or other judicial proceeding relative to any Loan Party, the
Administrative Agent (irrespective of whether the principal of any Loan or L/C
Obligation shall then be due and payable as herein expressed or by declaration
or otherwise and irrespective of whether the Administrative Agent shall have
made any demand on any Borrower) shall be entitled and empowered, by
intervention in such proceeding or otherwise

 

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

 

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

 

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

 

Nothing contained herein shall be deemed to
authorize the Administrative Agent to authorize or consent to or accept or
adopt on behalf of any Lender or the L/C Issuer any plan of reorganization,

 

82

 

arrangement,
adjustment or composition affecting the Obligations or the rights of any Lender
or to authorize the Administrative Agent to vote in respect of the claim of any
Lender in any such proceeding.

 

10.10      Guaranty Matters.

 

The Lenders and the L/C Issuer irrevocably authorize
the Administrative Agent, at its option and in its discretion, to release any
Subsidiary Guarantor from its obligations under the Guaranty if such Person
ceases to be a Subsidiary as a result of a transaction permitted hereunder.

 

ARTICLE XI

MISCELLANEOUS

 

11.01      Amendments, Etc.

 

No amendment or waiver of any provision of this
Agreement or any other Loan Document, and no consent to any departure by the
Company or any other Loan Party therefrom, shall be effective unless in writing
signed by the Required Lenders and the Company or the applicable Loan Party, as
the case may be, and acknowledged by the Administrative Agent, and each such
waiver or consent shall be effective only in the specific instance and for the
specific purpose for which given; provided, however, that no such
amendment, waiver or consent shall:

 

(a)           extend or increase the Commitment of any Lender (or reinstate any
Commitment terminated pursuant to Section 9.02) without the written
consent of such Lender;

 

(b)           postpone any date fixed by this Agreement or any other Loan Document
for any payment of principal, interest, fees or other amounts due to the
Lenders (or any of them) hereunder or under any other Loan Document without the
written consent of each Lender directly affected thereby;

 

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

 

(d)           change Section 2.13 or Section 9.03 in a manner
that would alter the pro rata sharing of payments and Credit Extensions required
thereby in a manner adverse to any Lender without the written consent of such
Lender;

 

(e)           amend Section 1.05(a),  Section 1.06 or the
definition of “Alternative Currency” without the written consent of each
Lender;

 

(f)            change any provision of this Section or
the definition of “Required Lenders” or any other provision hereof specifying
the number or percentage of Lenders required to amend, waive or otherwise
modify any rights hereunder or make any determination or grant any consent
hereunder without the written consent of each Lender; or

 

83

 

(g)           release the Company or any Designated
Borrower or all or substantially all of the Subsidiary Guarantors, from its or
their obligations under the Loan Documents without the written consent of each
Lender directly affected thereby;

 

and,
provided  further, that (i) no amendment, waiver or consent
shall, unless in writing and signed by the L/C Issuer in addition to the
Lenders required above, affect the rights or duties of the L/C Issuer under
this Agreement or any Issuer Document relating to any Letter of Credit issued
or to be issued by it; (ii) no amendment, waiver or consent shall, unless
in writing and signed by the Swing Line Lender in addition to the Lenders
required above, affect the rights or duties of the Swing Line Lender under this
Agreement; (iii) no amendment, waiver or consent shall, unless in writing
and signed by the Administrative Agent in addition to the Lenders required
above, affect the rights or duties of the Administrative Agent under this Agreement
or any other Loan Document and (iv) the Fee Letter may be amended, or
rights or privileges thereunder waived, in a writing executed only by the
parties thereto.  Notwithstanding
anything to the contrary herein, no Defaulting Lender shall have any right to
approve or disapprove any amendment, waiver or consent hereunder, except that
the Commitment of such Lender may not be increased or extended without the
consent of such Lender.

 

11.02      Notices;
Effectiveness; Electronic Communication.

 

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

 

(i)            if to the Borrowers, the Administrative
Agent, the L/C Issuer or the Swing Line Lender, to the address, telecopier
number, electronic mail address or telephone number specified for such Person
on Schedule 11.02; and

 

(ii)           if to any other Lender, to the address, telecopier number, electronic
mail address or telephone number specified in its Administrative Questionnaire.

 

Notices
sent by hand or overnight courier service, or mailed by certified or registered
mail, shall be deemed to have been given when received; notices sent by
telecopier shall be deemed to have been given when sent (except that, if not
given during normal business hours for the recipient, shall be deemed to have
been given at the opening of business on the next business day for the
recipient).  Notices delivered through
electronic communications to the extent provided in subsection (b) below,
shall be effective as provided in such subsection (b).

 

(b)           Electronic Communications. 
Notices and other communications to the Lenders and the L/C Issuer
hereunder may be delivered or furnished by electronic communication (including
e-mail and Internet or intranet websites) pursuant to procedures approved by
the Administrative Agent, provided that the foregoing shall not apply to
notices to any Lender or the L/C Issuer pursuant to Article II if
such Lender or the L/C Issuer, as applicable, has notified the Administrative
Agent that it is incapable of receiving notices under such Article by
electronic communication.  The
Administrative Agent or the Company may, in its discretion, agree to accept
notices and other communications to it hereunder by electronic communications
pursuant to procedures approved by it, provided that approval of such
procedures may be limited to particular notices or communications.

 

84

 

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

 

(c)           The Platform.  THE
PLATFORM IS PROVIDED “AS IS” AND “AS AVAILABLE.”  THE AGENT PARTIES (AS DEFINED BELOW) DO NOT
WARRANT THE ACCURACY OR COMPLETENESS OF THE BORROWER MATERIALS OR THE ADEQUACY
OF THE PLATFORM, AND EXPRESSLY DISCLAIM LIABILITY FOR ERRORS IN OR OMISSIONS
FROM THE BORROWER MATERIALS.  NO WARRANTY
OF ANY KIND, EXPRESS, IMPLIED OR STATUTORY, INCLUDING ANY WARRANTY OF MERCHANTABILITY,
FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT OF THIRD PARTY RIGHTS OR
FREEDOM FROM VIRUSES OR OTHER CODE DEFECTS, IS MADE BY ANY AGENT PARTY IN
CONNECTION WITH THE BORROWER MATERIALS OR THE PLATFORM.  In no event shall the Administrative Agent or
any of its Related Parties (collectively, the “Agent Parties”) have any
liability to any Borrower, any Lender, the L/C Issuer or any other Person for
losses, claims, damages, liabilities or expenses of any kind (whether in tort,
contract or otherwise) arising out of any Borrower’s or the Administrative
Agent’s transmission of the items delivered by any Borrower to the
Administrative Agent pursuant to Sections 7.01, 7.02 or 7.03
or any other materials and/or information at the request of any Borrower through
the Internet, except to the extent that such losses, claims, damages,
liabilities or expenses result from the gross negligence or willful misconduct
of such Agent Party; provided, however, that in no event shall
any Agent Party have any liability to any Borrower, any Lender, the L/C Issuer
or any other Person for indirect, special, incidental, consequential or
punitive damages (as opposed to direct or actual damages).

 

(d)           Change of Address, Etc.  Each
of the Borrowers, the Administrative Agent, the L/C Issuer and the Swing Line
Lender may change its address, telecopier or telephone number for notices and
other communications hereunder by notice to the other parties hereto.  Each other Lender may change its address,
telecopier or telephone number for notices and other communications hereunder
by notice to the Company, the Administrative Agent, the L/C Issuer and the
Swing Line Lender.  In addition, each
Lender agrees to notify the Administrative Agent from time to time to ensure
that the Administrative Agent has on record (i) an effective address,
contact name, telephone number, telecopier number and electronic mail address
to which notices and other communications may be sent and (ii) accurate
wire instructions for such Lender.

 

(e)           Reliance by Administrative Agent, L/C Issuer
and Lenders.  The Administrative Agent, the L/C Issuer and
the Lenders shall be entitled to rely and act upon any notices (including
telephonic Committed Loan Notices and Swing Line Loan Notices) from a
Responsible Officer of any Borrower even if (i) such notices were not made
in a manner specified herein, were incomplete or were not preceded or followed
by any other form of notice specified herein, or (ii) the terms thereof,
as understood by the recipient, varied from any confirmation thereof.  All telephonic notices to and other
telephonic communications with the Administrative Agent may be recorded by the
Administrative Agent, and each of the parties hereto hereby consents to such
recording.

 

85

 

11.03      No Waiver;
Cumulative Remedies.

 

No failure by any Lender or the Administrative Agent
to exercise, and no delay by any such Person in exercising, any right, remedy,
power or privilege hereunder shall operate as a waiver thereof; nor shall any
single or partial exercise of any right, remedy, power or privilege hereunder
preclude any other or further exercise thereof or the exercise of any other
right, remedy, power or privilege.  The
rights, remedies, powers and privileges herein provided are cumulative and not
exclusive of any rights, remedies, powers and privileges provided by law.

 

11.04      Expenses;
Indemnity; Damage Waiver.

 

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

 

(b)           Indemnification by the Company.  The
Company shall indemnify the Administrative Agent, each Lender and the L/C
Issuer, and each Related Party of any of the foregoing Persons (each such Person
being called an “Indemnitee”) against, and hold each Indemnitee harmless
from, any and all losses, claims, damages, liabilities and related expenses
(including the reasonable fees, charges and disbursements of any counsel for
any Indemnitee), and shall indemnify and hold harmless each Indemnitee from all
fees and time charges and disbursements for attorneys who may be employees of
any Indemnitee, incurred by any Indemnitee or asserted against any Indemnitee
by any third party or by any Borrower or any other Loan Party arising out of,
in connection with, or as a result of (i) the execution or delivery of
this Agreement, any other Loan Document or any agreement or instrument
contemplated hereby or thereby, the performance by the parties hereto of their
respective obligations hereunder or thereunder, the consummation of the
transactions contemplated hereby or thereby, or, in the case of the
Administrative Agent and its Related Parties only, the administration of this
Agreement and the other Loan Documents, (ii) any Loan or Letter of Credit
or the use or proposed use of the proceeds therefrom (including any refusal by
the L/C Issuer to honor a demand for payment under a Letter of Credit if the
documents presented in connection with such demand do not strictly comply with
the terms of such Letter of Credit), (iii) any actual or alleged presence
or release of Hazardous Materials on or originating from any property owned or
operated by any Borrower or any of its Subsidiaries, or any Environmental Claim
against or affecting any Borrower or any of its Subsidiaries, or (iv) any
actual or prospective claim, litigation, investigation or proceeding relating
to any of the foregoing, whether based on contract, tort or any other theory,
whether brought by a third party or by the Company or any other Loan Party, and
regardless of whether any Indemnitee is a party thereto, in all cases, whether
or not caused by or arising, in whole or in part, out of the comparative,
contributory or sole negligence of the Indemnitee; provided that such
indemnity shall not, as to any Indemnitee, be available to the extent that such
losses, claims, damages, liabilities or related expenses (x) are
determined by a court of competent jurisdiction by final and nonappealable
judgment to have resulted from the gross negligence or willful misconduct of
such

 

86

 

Indemnitee,
(y) result from a claim brought by the Company or any other Loan Party
against an Indemnitee for breach in bad faith of such Indemnitee’s obligations
hereunder or under any other Loan Document, if the Company or such other Loan
Party has obtained a final and nonappealable judgment in its favor on such
claim as determined by a court of competent jurisdiction or (z) related to
Hazardous Materials that are unrelated to the Company or any of its
Subsidiaries and that are first used, released, disposed or otherwise emitted
by a Person other than the Company or any of its Subsidiaries at or on any
property after such property has been transferred to any Indemnitee or its
successors or assigns by foreclosure, deed-in-lieu of foreclosure or similar
transfer.

 

(c)           Reimbursement by Lenders.  To
the extent that the Company for any reason fails to indefeasibly pay any amount
required under subsection (a) or (b) of this Section to
be paid by it to the Administrative Agent, the L/C Issuer or any Related Party
of any of the foregoing, each Lender severally agrees to pay to the
Administrative Agent, the L/C Issuer or such Related Party, as the case may be,
such Lender’s Applicable Percentage (determined as of the time that the
applicable unreimbursed expense or indemnity payment is sought) of such unpaid
amount, provided that the unreimbursed expense or indemnified loss,
claim, damage, liability or related expense, as the case may be, was incurred
by or asserted against the Administrative Agent or the L/C Issuer in its
capacity as such, or against any Related Party of any of the foregoing acting
for the Administrative Agent or L/C Issuer in connection with such
capacity.  The obligations of the Lenders
under this subsection (c) are subject to the provisions of Section 2.12(d).

 

(d)           Waiver of Consequential Damages, Etc.  To
the fullest extent permitted by applicable law, no Loan Party shall assert, and
hereby waives, any claim against any Indemnitee, on any theory of liability,
for special, indirect, consequential or punitive damages (as opposed to direct
or actual damages) arising out of, in connection with, or as a result of, this
Agreement, any other Loan Document or any agreement or instrument contemplated
hereby, the transactions contemplated hereby or thereby, any Loan or Letter of
Credit or the use of the proceeds thereof. 
No Indemnitee referred to in subsection (b) above shall be
liable for any damages arising from the use by unintended recipients of any
information or other materials distributed by it through telecommunications,
electronic or other information transmission systems in connection with this
Agreement or the other Loan Documents or the transactions contemplated hereby
or thereby.

 

(e)           Payments.  All amounts due under this Section shall
be payable not later than ten Business Days after demand therefor.

 

(f)            Survival.  The agreements in this Section 11.04
shall survive the resignation of the Administrative Agent and the L/C Issuer,
the replacement of any Lender, the termination of the Aggregate Commitments and
the repayment, satisfaction or discharge of all the other Obligations.

 

11.05      Payments Set Aside.

 

To the extent that any payment by or on behalf of
any Borrower is made to the Administrative Agent, the L/C Issuer or any Lender,
or the Administrative Agent, the L/C Issuer or any Lender exercises its right
of setoff, and such payment or the proceeds of such setoff or any part thereof
is subsequently invalidated, declared to be fraudulent or preferential, set
aside or required (including pursuant to any settlement entered into by the
Administrative Agent, the L/C Issuer or such Lender in its discretion) to be
repaid to a trustee, receiver or any other party, in connection with any
proceeding under any Debtor Relief Law or otherwise, then (a) to the
extent of such recovery, the obligation or part thereof originally intended to
be satisfied shall be revived and continued in full force and effect as if such
payment had not been made or such setoff had not occurred, and (b) each
Lender and the L/C Issuer severally agrees to pay to the Administrative Agent
upon demand its applicable share (without duplication) of any amount so

 

87

 

recovered
from or repaid by the Administrative Agent, plus interest thereon from the date
of such demand to the date such payment is made at a rate per annum equal to
the applicable Overnight Rate from time to time in effect, in the applicable
currency of such recovery or payment. 
The obligations of the Lenders and the L/C Issuer under clause (b) of
the preceding sentence shall survive the payment in full of the Obligations and
the termination of this Agreement.

 

11.06      Successors
and Assigns.

 

(a)           Successors and Assigns Generally.  The
provisions of this Agreement shall be binding upon and inure to the benefit of
the parties hereto and their respective successors and assigns permitted
hereby, except that no Loan Party may assign or otherwise transfer any of its
rights or obligations hereunder without the prior written consent of the
Administrative Agent and each Lender and no Lender may assign or otherwise
transfer any of its rights or obligations hereunder except (i) to an Eligible
Assignee in accordance with the provisions of subsection (b) of this
Section, (ii) by way of participation in accordance with the provisions of
subsection (d) of this Section, or (iii) by way of pledge or
assignment of a security interest subject to the restrictions of subsection (f) of
this Section (and any other attempted assignment or transfer by any party
hereto shall be null and void).  Nothing
in this Agreement, expressed or implied, shall be construed to confer upon any
Person (other than the parties hereto, their respective successors and assigns
permitted hereby, Participants to the extent provided in subsection (d) of
this Section and, to the extent expressly contemplated hereby, the Related
Parties of each of the Administrative Agent, the L/C Issuer and the Lenders)
any legal or equitable right, remedy or claim under or by reason of this
Agreement.

 

(b)           Assignments by Lenders.  Any
Lender may at any time assign to one or more Eligible Assignees all or a
portion of its rights and obligations under this Agreement (including all or a
portion of its Commitment and the Loans (including for purposes of this subsection (b),
participations in L/C Obligations and in Swing Line Loans) at the time owing to
it); provided that:

 

(i)            except in the case of an assignment of the
entire remaining amount of the assigning Lender’s Commitment and the Loans at
the time owing to it or in the case of an assignment to a Lender or an
Affiliate of a Lender or an Approved Fund with respect to a Lender, the
aggregate amount of the Commitment (which for this purpose includes Loans
outstanding thereunder) or, if the Commitment is not then in effect, the
principal outstanding balance of the Loans of the assigning Lender subject to
each such assignment, determined as of the date the Assignment and Assumption
with respect to such assignment is delivered to the Administrative Agent or, if
“Trade Date” is specified in the Assignment and Assumption, as of the Trade
Date, shall not be less than $5,000,000 unless each of
the Administrative Agent and, so long as no Event of Default has occurred and
is continuing, the Company otherwise consents (each such consent not to be
unreasonably withheld or delayed); provided, however, that
concurrent assignments to members of an Assignee Group and concurrent
assignments from members of an Assignee Group to a single Eligible Assignee (or
to an Eligible Assignee and members of its Assignee Group) will be treated as a
single assignment for purposes of determining whether such minimum amount has
been met;

 

(ii)           any assignment of a Commitment must be approved by the Administrative
Agent, the L/C Issuer and the Swing Line Lender, such approval not to be
unreasonably withheld, unless the Person that is the proposed assignee is
itself a Lender (whether or not the proposed assignee would otherwise qualify
as an Eligible Assignee); and

 

(iii)          the parties to each
assignment shall execute and deliver to the Administrative Agent an Assignment
and Assumption, together with a processing and recordation fee in the

 

88

 

amount,
if any, required as set forth in Schedule 11.06, and the Eligible
Assignee, if it shall not be a Lender, shall deliver to the Administrative
Agent an Administrative Questionnaire.

 

Subject
to acceptance and recording thereof by the Administrative Agent pursuant to subsection (c) of
this Section, from and after the effective date specified in each Assignment
and Assumption, the Eligible Assignee thereunder shall be a party to this
Agreement and, to the extent of the interest assigned by such Assignment and
Assumption, have the rights and obligations of a Lender under this Agreement,
and the assigning Lender thereunder shall, to the extent of the interest
assigned by such Assignment and Assumption, be released from its obligations
under this Agreement (and, in the case of an Assignment and Assumption covering
all of the assigning Lender’s rights and obligations under this Agreement, such
Lender shall cease to be a party hereto) but shall continue to be entitled to
the benefits of Sections 3.01, 3.04, 3.05, and 11.04
with respect to facts and circumstances occurring prior to the effective date
of such assignment.  Upon request, each
Borrower (at its expense) shall execute and deliver a Note to the assignee
Lender.  Any assignment or transfer by a
Lender of rights or obligations under this Agreement that does not comply with
this subsection shall be treated for purposes of this Agreement as a sale
by such Lender of a participation in such rights and obligations in accordance
with subsection (d) of this Section.

 

(c)           Register.  The Administrative Agent,
acting solely for this purpose as an agent of the Borrowers, shall maintain at
the Administrative Agent’s Office a copy of each Assignment and Assumption delivered
to it and a register for the recordation of the names and addresses of the
Lenders, and the Commitments of, and principal amounts of the Loans and L/C
Obligations owing to, each Lender pursuant to the terms hereof from time to
time (the “Register”).  The
entries in the Register shall be conclusive, absent manifest error, and the
Borrowers, the Administrative Agent and the Lenders may treat each Person whose
name is recorded in the Register pursuant to the terms hereof as a Lender
hereunder for all purposes of this Agreement, notwithstanding notice to the
contrary.  The Register shall be
available for inspection by each of the Borrowers and the L/C Issuer at any
reasonable time and from time to time upon reasonable prior notice.  In addition, at any time that a request for a
consent for a material or substantive change to the Loan Documents is pending,
any Lender may request and receive from the Administrative Agent a copy of the
Register.

 

(d)           Participations.  Any
Lender may at any time, without the consent of, or notice to, any Borrower or
the Administrative Agent, sell participations to any Person (other than a
natural person or the Company or any of the Company’s Affiliates or
Subsidiaries) (each, a “Participant”) in all or a portion of such Lender’s
rights and/or obligations under this Agreement (including all or a portion of
its Commitment and/or the Loans (including such Lender’s participations in L/C
Obligations and/or Swing Line Loans) owing to it); provided that (i) such
Lender’s obligations under this Agreement shall remain unchanged, (ii) such
Lender shall remain solely responsible to the other parties hereto for the
performance of such obligations and (iii) the Borrowers, the
Administrative Agent, the Lenders and the L/C Issuer shall continue to deal
solely and directly with such Lender in connection with such Lender’s rights
and obligations under this Agreement.

 

Any agreement or instrument pursuant to which a
Lender sells such a participation shall provide that such Lender shall retain
the sole right to enforce this Agreement and to approve any amendment,
modification or waiver of any provision of this Agreement; provided that
such agreement or instrument may provide that such Lender will not, without the
consent of the Participant, agree to any amendment, waiver or other
modification described in the first proviso to Section 11.01 that
affects such Participant.  Subject to subsection (e) of
this Section, each Borrower agrees that each Participant shall be entitled to
the benefits of Sections 3.01, 3.04 and 3.05 to the same extent as if it were a Lender and had acquired
its interest by assignment pursuant to subsection (b) of this
Section.  To the extent permitted by law,
each Participant also shall be entitled to the benefits of Section 11.08 as though it were a Lender, provided such
Participant agrees to be subject to Section 2.13 as though it were
a Lender.

 

89

 

(e)           Limitation upon Participant Rights.  A
Participant shall not be entitled to receive any greater payment under Section 3.01,
3.04 or 3.05 than the applicable
Lender would have been entitled to receive with respect to the participation
sold to such Participant, unless the sale of the participation to such
Participant is made with the Company’s prior written consent.  A Participant that would be a Foreign Lender
if it were a Lender shall not be entitled to the benefits of Section 3.01
unless the Company is notified of the participation sold to such Participant
and such Participant agrees, for the benefit of the Borrowers, to comply with Section 3.01(e) as
though it were a Lender.

 

(f)            Certain Pledges.  Any
Lender may at any time pledge or assign a security interest in all or any
portion of its rights under this Agreement (including under its Note(s), if
any) to secure obligations of such Lender, including any pledge or assignment
to secure obligations to a Federal Reserve Bank; provided that no such
pledge or assignment shall release such Lender from any of its obligations
hereunder or substitute any such pledgee or assignee for such Lender as a party
hereto.

 

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

 

(h)           Resignation as L/C Issuer or Swing Line
Lender after Assignment.  Notwithstanding anything to the contrary
contained herein, if at any time Bank of America assigns all of its Commitment
and Loans pursuant to subsection (b) above, Bank of America may, (i) upon
30 days’ notice to the Company and the Lenders, resign as L/C Issuer and/or (ii) upon
30 days’ notice to the Company, resign as Swing Line Lender.  In the event of any such resignation as L/C
Issuer or Swing Line Lender, the Company shall be entitled to appoint from
among the Lenders a successor L/C Issuer or Swing Line Lender hereunder; provided,
however, that no failure by the Company to appoint any such successor
shall affect the resignation of Bank of America as L/C Issuer or Swing Line
Lender, as the case may be.  If Bank of
America resigns as L/C Issuer, it shall retain all the rights, powers,
privileges and duties of the L/C Issuer hereunder with respect to all Letters
of Credit outstanding as of the effective date of its resignation as L/C Issuer
and all L/C Obligations with respect thereto (including the right to require
the Lenders to make Base Rate Committed Loans or fund risk participations in
Unreimbursed Amounts pursuant to Section 2.03(c)).  If Bank of America resigns as Swing Line Lender,
it shall retain all the rights of the Swing Line Lender provided for hereunder
with respect to Swing Line Loans made by it and outstanding as of the effective
date of such resignation, including the right to require the Lenders to make
Base Rate Committed Loans or fund risk participations in outstanding Swing Line
Loans pursuant to Section 2.04(c). 
Upon the appointment of a successor L/C Issuer and/or Swing Line Lender,
(a) such successor shall succeed to and become vested with all of the
rights, powers, privileges and duties of the retiring L/C Issuer or Swing Line
Lender, as the case may be, and (b) the successor L/C Issuer shall issue
letters of credit in substitution for the Letters of Credit, if any,
outstanding at the time of such succession or make other arrangements
satisfactory to Bank of America to effectively assume the obligations of Bank
of America with respect to such Letters of Credit.

 

11.07      Treatment
of Certain Information; Confidentiality.

 

Each of the Administrative Agent, the Lenders and
the L/C Issuer agrees to maintain the confidentiality of the Information (as
defined below), except that Information may be disclosed (a) to its
Affiliates and to its and its Affiliates’ respective partners, directors,
officers, employees, agents, advisors

 

90

 

and
representatives (it being understood that the Persons to whom such disclosure
is made will be informed of the confidential nature of such Information and
instructed to keep such Information confidential), (b) to the extent
requested by any regulatory authority purporting to have jurisdiction over it
(including any self-regulatory authority, such as the National Association of
Insurance Commissioners); provided that unless specifically prohibited
by applicable law or court order, such Lender shall use its commercially
reasonable efforts to notify the Company of any request by any regulatory
authority or representative thereof of the National Association of Insurance
Commissioners (other than any such request in connection with any examination
of the financial condition of such Lender by such governmental agency or the
National Association of Insurance Commissioners) for disclosure of any such
non-public information prior to disclosure of such information, (c) to the
extent required by applicable laws or regulations or by any subpoena or similar
legal process, (d) to any other party hereto, (e) in connection with
the exercise of any remedies hereunder or under any other Loan Document or any
action or proceeding relating to this Agreement or any other Loan Document or
the enforcement of rights hereunder or thereunder, (f) subject to an
agreement containing provisions substantially the same as those of this
Section, to (i) any assignee of or Participant in, or any prospective
assignee of or Participant in, any of its rights or obligations under this
Agreement or (ii) any actual or prospective counterparty (or its advisors)
to any swap or derivative transaction relating to a Borrower and its
obligations, (g) with the consent of the Company or (h) to the extent
such Information (x) becomes publicly available other than as a result of a
breach of this Section or (y) becomes available to the Administrative
Agent, any Lender, the L/C Issuer or any of their respective Affiliates on a
nonconfidential basis from a source other than the Company.

 

For purposes of this Section, “Information”
means all information received from the Company or any Subsidiary relating to
the Company or any Subsidiary or any of their respective businesses, other than
any such information that is available to the Administrative Agent, any Lender
or the L/C Issuer on a nonconfidential basis prior to disclosure by the Company
or any Subsidiary, provided that, in the case of information received
from the Company or any Subsidiary after the date hereof, such information is
clearly identified at the time of delivery as confidential.  Any Person required to maintain the
confidentiality of Information as provided in this Section shall be
considered to have complied with its obligation to do so if such Person has
exercised the same degree of care to maintain the confidentiality of such
Information as such Person would accord to its own confidential information.

 

Each of the Administrative Agent, the Lenders and
the L/C Issuer acknowledges that (a) the Information may include material
non-public information concerning the Company or a Subsidiary, as the case may
be, (b) it has developed compliance procedures regarding the use of
material non-public information and (c) it will handle such material non-public
information in accordance with applicable Law, including Federal and state
securities Laws.

 

11.08      Right
of Setoff.

 

If an Event of Default shall have occurred and be
continuing, each Lender, the L/C Issuer and each of their respective Affiliates
is hereby authorized at any time and from time to time, to the fullest extent
permitted by applicable law, to set off and apply any and all deposits (general
or special, time or demand, provisional or final, in whatever currency) at any
time held and other obligations (in whatever currency) at any time owing by
such Lender, the L/C Issuer or any such Affiliate to or for the credit or the
account of any Borrower or any other Loan Party against any and all of the
obligations of such Borrower or such Loan Party then due and payable under this
Agreement or any other Loan Document to such Lender or the L/C Issuer,
irrespective of whether or not such Lender or the L/C Issuer shall have made
any demand under this Agreement or any other Loan Document.  The rights of each Lender, the L/C Issuer and
their respective Affiliates under this Section are in addition to other
rights and remedies (including other rights of setoff) that such Lender, the
L/C Issuer or their respective Affiliates may have.

 

91

 

Each
Lender and the L/C Issuer agrees to notify the Company and the Administrative
Agent promptly after any such setoff and application, provided that the
failure to give such notice shall not affect the validity of such setoff and
application.

 

11.09      Interest
Rate Limitation.

 

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

 

11.10      Counterparts;
Integration; Effectiveness.

 

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

 

11.11      Survival of
Representations and Warranties.

 

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

 

11.12      Severability.

 

If any provision of this Agreement or the other Loan
Documents is held to be illegal, invalid or unenforceable, (a) the
legality, validity and enforceability of the remaining provisions of this
Agreement and the other Loan Documents shall not be affected or impaired
thereby and (b) the parties shall endeavor in good faith negotiations to
replace the illegal, invalid or unenforceable provisions with valid provisions
the economic effect of which comes as close as possible to that of the illegal,
invalid or unenforceable provisions.  The
invalidity of a provision in a particular jurisdiction shall not invalidate or
render unenforceable such provision in any other jurisdiction.

 

92

 

11.13      Replacement
of Lenders.

 

If (a) any Lender requests compensation under Section 3.04,
(b) the Company is required to pay any additional amount to any Lender or
any Governmental Authority for the account of any Lender pursuant to Sections
3.01 or 3.04, (c) any Lender is subject to illegality under Section 3.02,
(d) a Lender (a “Non-Consenting Lender”) does not consent to a
proposed change, waiver, discharge or termination with respect to any Loan
Document that has been approved by the Required Lenders as provided in Section 11.01
but requires unanimous consent of all Lenders or all Lenders directly affected
thereby (as applicable) or (e) any Lender is a Defaulting Lender, then the
Company may, at its sole expense and effort, upon notice to such Lender and the
Administrative Agent, require such Lender to assign and delegate, without
recourse (in accordance with and subject to the restrictions contained in, and
consents required by, Section 11.06), all of its interests, rights
and obligations under this Agreement and the related Loan Documents to an
assignee that shall assume such obligations (which assignee may be another
Lender, if a Lender accepts such assignment), provided that:

 

(i)            Administrative Agent shall have received the
assignment fee specified in Section 11.06(b);

 

(ii)           such Lender shall have received payment of an amount equal to the
outstanding principal of its Loans and L/C Advances, accrued interest thereon,
accrued fees and all other amounts payable to it hereunder and under the other
Loan Documents (including any amounts under Section 3.05) from the
assignee (to the extent of such outstanding principal and accrued interest and
fees) or the Company or applicable Designated Borrower (in the case of all
other amounts);

 

(iii)          in the case of any such assignment resulting from a claim for
compensation under Section 3.04 or payments required to be made
pursuant to Section 3.01, such assignment will result in a
reduction in such compensation or payments thereafter; 

 

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

 

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

 

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

 

11.14      Governing
Law; Jurisdiction; Etc.

 

(a)           GOVERNING LAW.  THIS
AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF
THE STATE OF NEW YORK WITHOUT REGARD TO NEW YORK CONFLICTS OF LAWS PRINCIPLES.

 

93

 

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

 

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

 

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

 

11.15      Waiver of Jury Trial.

 

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

 

94

 

11.16      USA PATRIOT
Act Notice.

 

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

 

11.17      Judgment Currency.

 

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

 

95

 

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

 

	
  COMPANY:

  	
  AMPHENOL CORPORATION,

  
	
   

  	
  a Delaware corporation

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  	
   

  
	
   

  	
  Title:

  	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  SUBSIDIARY GUARANTORS:

  	
  AMPHENOL INTERCONNECT PRODUCTS CORPORATION,

  
	
   

  	
  a Delaware corporation

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  	
   

  
	
   

  	
  Title:

  	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  AMPHENOL INTERNATIONAL LTD,

  
	
   

  	
  a Delaware corporation

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  	
   

  
	
   

  	
  Title:

  	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  TIMES FIBER COMMUNICATIONS, INC.,

  
	
   

  	
  a Delaware corporation

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  	
   

  
	
   

  	
  Title:

  	
   

  	
   

  
					

 

96

 

	
   

  	
  BANK OF AMERICA, N.A., as

  
	
   

  	
  Administrative Agent

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  	
   

  
	
   

  	
  Title:

  	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  BANK OF AMERICA, N.A., as a Lender, L/C Issuer 

  and Swing Line Lender

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  	
   

  
	
   

  	
  Title:

  	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  WACHOVIA BANK, N.A., as a Lender

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  	
   

  
	
   

  	
  Title:

  	
   

  	
   

  
						

 

97

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00087-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00087-of-00352.parquet"}]]